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Florida Shores Bank - Southeast

Pompano Beach, FL · Cert 58331

FDIC

Q4 2013

$166.9MAssets
$125.0MLoans
$152.7MDeposits
$13.8MEquity
Loan mix
80%RE $77.1M19%C&I $18.0M1%Consumer $1.4MQ4 2012Q4 2013
Deposit mix
83%Interest-bearing $126.3M17%Noninterest $26.3MQ4 2012Q4 2013

NIM

4.17%Q4 ’114.06%Q4 ’124.26%Q4 ’13+5%+9%

Non-interest income vs. expense

3.50%Q4 ’113.64%Q4 ’123.79%Q4 ’13+9%-2%

Executive Summary

  • Earnings: ROA of -0.49%, up 61 bps year over year; NIM at 3.69%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 1.80%.
  • Funding: loans stand at 81.87% of deposits as of Q4 2013.

Financial Results

Return on Assets (YTD, annualized)

-0.49%+61 bps YoY

Net Interest Margin (YTD, annualized)

3.69%+30 bps YoY

Efficiency Ratio (YTD, annualized)

96.72%-1,060 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ4 2012Q1 2013Q2 2013Q3 2013Q4 2013YoY ΔTrend
Earnings
Return on Assets-1.11%0.25%-0.39%-0.79%-0.49%+61 bps
Return on Equity-13.29%3.03%-4.77%-9.71%-6.09%+720 bps
Net Interest Margin3.39%3.50%3.51%3.65%3.69%+30 bps
Efficiency Ratio107.32%91.22%94.77%95.40%96.72%-1,060 bps
Non-Interest Burden3.67%3.20%3.35%3.51%3.60%-7 bps
Growth
Asset Growth (YoY)1.45%-2.00%5.84%-3.40%-9.00%-1,045 bps
Loan Growth (YoY)19.08%15.22%3.08%2.91%1.12%-1,796 bps
Deposit Growth (YoY)1.71%-2.22%7.72%-2.71%-9.36%-1,108 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.87%4.53%3.01%2.55%1.80%+94 bps
Allowance / Loans2.70%1.55%1.58%1.63%1.67%-102 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 Capital11.70%12.66%12.39%11.55%11.91%+21 bps
Equity / Assets7.93%8.61%7.91%7.88%8.26%+33 bps
Liquidity & Funding
Loans / Deposits73.38%74.83%75.92%80.84%81.87%+849 bps
Liquid Assets / Assets9.03%5.00%4.10%2.73%6.18%-284 bps
CRE / Total Capitaln/an/an/an/an/an/an/a