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Apalachicola State Bank

Apalachicola, FL · Cert 9619

FDIC

Q2 2010

$377.5MAssets
$276.8MLoans
$370.0MDeposits
$5.4MEquity
Loan mix
90%RE $213.8M9%C&I $22.2M0%Consumer $0.8MQ2 2009Q2 2010
Deposit mix
94%Interest-bearing $346.2M6%Noninterest $23.8MQ2 2009Q2 2010

NIM

6.64%Q2 ’085.03%Q2 ’093.76%Q2 ’10-28%-15%

Non-interest income vs. expense

3.38%Q2 ’083.05%Q2 ’093.80%Q2 ’10-7%+30%

Executive Summary

  • Earnings: ROA of -2.99%, down 261 bps year over year; NIM at 2.08%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.02%.
  • Funding: loans stand at 74.81% of deposits as of Q2 2010.

Financial Results

Return on Assets (quarter, annualized)

-2.99%-261 bps YoY

Net Interest Margin (quarter, annualized)

2.08%-37 bps YoY

Efficiency Ratio (quarter, annualized)

140.57%+4,060 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ2 2009Q3 2009Q4 2009Q1 2010Q2 2010YoY ΔTrend
Earnings
Return on Assets-0.38%-4.87%-18.90%-1.68%-2.99%-261 bps
Return on Equity-4.54%-63.34%-387%-71.21%-167.68%-16,314 bps
Net Interest Margin2.45%2.25%2.04%1.90%2.08%-37 bps
Efficiency Ratio99.97%130.34%629%158.09%140.57%+4,060 bps
Non-Interest Burden2.44%3.15%9.42%3.12%3.17%+73 bps
Growth
Asset Growth (YoY)3.72%6.22%-0.23%-0.82%-1.20%-493 bps
Loan Growth (YoY)5.51%2.38%-1.43%-5.41%-9.03%-1,454 bps
Deposit Growth (YoY)16.57%15.17%14.52%5.75%6.06%-1,052 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.28%3.90%4.52%7.15%0.02%-26 bps
Allowance / Loans1.45%1.64%4.16%2.64%3.33%+188 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 Capital10.51%9.00%4.45%3.87%2.94%-757 bps
Equity / Assets8.32%7.04%2.60%2.13%1.43%-689 bps
Liquidity & Funding
Loans / Deposits87.21%87.70%83.86%77.94%74.81%-1,241 bps
Liquid Assets / Assets2.58%2.21%3.13%6.50%8.99%+641 bps
CRE / Total Capitaln/an/an/an/an/an/an/a