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Providence Bank

Winter Haven, FL · Cert 58043

FDIC

Q1 2009

$50.3MAssets
$35.3MLoans
$39.8MDeposits
$5.0MEquity
Loan mix
66%RE $22.0M34%C&I $11.2M0%Consumer $0.0MQ1 2008Q1 2009
Deposit mix
90%Interest-bearing $35.9M10%Noninterest $3.8MQ1 2008Q1 2009

NIM

6.52%Q1 ’075.80%Q1 ’084.69%Q1 ’09-33%-8%

Non-interest income vs. expense

7.18%Q1 ’075.92%Q1 ’083.88%Q1 ’09-18%-35%

Executive Summary

  • Earnings: ROA of -1.13%, up 254 bps year over year; NIM at 2.24%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.91%.
  • Funding: loans stand at 88.83% of deposits as of Q1 2009.

Financial Results

Return on Assets (YTD, annualized)

-1.13%+254 bps YoY

Net Interest Margin (YTD, annualized)

2.24%-20 bps YoY

Efficiency Ratio (YTD, annualized)

167.16%-6,634 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ1 2008Q2 2008Q3 2008Q4 2008Q1 2009YoY ΔTrend
Earnings
Return on Assets-3.66%-3.68%-3.05%-2.12%-1.13%+254 bps
Return on Equity-20.48%-23.06%-20.67%-15.01%-10.39%+1,009 bps
Net Interest Margin2.44%2.21%2.12%2.07%2.24%-20 bps
Efficiency Ratio234%225%195.29%185.27%167.16%-6,634 bps
Non-Interest Burden5.83%5.09%4.26%3.92%3.80%-203 bps
Growth
Asset Growth (YoY)59.55%79.12%79.89%51.85%59.84%+29 bps
Loan Growth (YoY)72.21%92.39%81.92%94.06%64.76%-745 bps
Deposit Growth (YoY)71.33%86.91%79.53%54.45%71.44%+11 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.00%0.00%0.01%0.06%0.91%+91 bps
Allowance / Loans1.35%1.33%1.44%1.58%1.39%+4 bps
Allowance Coverage of NPLsn/an/an/an/an/an/an/a
Capital
Tier 1 Leverage Ration/an/an/an/an/an/an/a
Total Risk-Based Capital25.11%20.15%18.58%16.13%14.22%-1,089 bps
Equity / Assets16.59%12.96%11.97%11.91%9.94%-665 bps
Liquidity & Funding
Loans / Deposits92.43%94.10%94.11%107.61%88.83%-360 bps
Liquid Assets / Assets12.31%11.06%15.07%8.68%16.80%+449 bps
CRE / Total Capitaln/an/an/an/an/an/an/a