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| 1st Quarter Financial Highlights - 2007 |
Old Florida Bankshares, Inc, and Subsidiaries
Financial Highlights
(Dollars in thousands, except per share data;unaudited)
| At March 31st |
|
2007
|
|
2006
|
|
Variance
|
| Total Assets |
$ |
276,267 |
|
336,187 |
|
-17.82% |
| Federal Funds Sold |
|
7,916 |
|
26,500 |
|
-70.13% |
| Securities |
|
23,133 |
|
26,047 |
|
-11.19% |
| Loans, net of unearned income |
|
226,136 |
|
256,279 |
|
-11.76% |
| Reserve for Loan losses |
|
2,636 |
|
2,684 |
|
-1.78% |
| Deposits |
|
239,820 |
|
291,576 |
|
-17.75% |
| Borrowings |
|
5,301 |
|
15,316 |
|
-65.39% |
| Stockholders' equity |
|
28,369 |
|
25,817 |
|
9.89% |
| |
|
|
|
|
|
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| Book value per share |
$ |
14.11 |
|
12.84 |
|
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| Market value per share |
|
34.8 |
|
27.25 |
|
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| Common shares outstanding |
|
2,010,974 |
|
2,010,974 |
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0.00% |
| |
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| Non-performing Loans |
|
$ |
1,030 |
|
0 |
|
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| Reserve for loan losses/non-performing loans |
|
255.94% |
|
0.00% |
|
|
| Non-performing loans/loans |
|
0.46% |
|
0.00% |
|
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| Allowance for loan losses/total loans |
|
1.17% |
|
1.05% |
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| 1st Quarter Income Statement - 2007 |
OLD FLORIDA BANKSHARES, INC, AND SUBSIDIARIES
Income Statement
(Unaudited)
| |
|
|
Three Months Ended March 31st
|
| Earnings |
|
2007 |
|
2006 |
|
%Change |
| Net Interest Income |
$ |
2,457 |
|
2,877 |
|
-14.60% |
| Provision for loan losses |
|
0 |
|
16 |
|
-100.00% |
| Noninterest income |
|
265 |
|
216 |
|
22.86% |
| Other expense |
|
1,846 |
|
1,966 |
|
-6.09% |
| Provision for income tax |
|
321 |
|
395 |
|
-18.67% |
| Net Income |
|
555 |
|
716 |
|
-22.52% |
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| Share Data |
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| Earnings per share:* |
|
|
|
|
|
|
| |
Basic |
|
0.28 |
|
0.37 |
|
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| Weighted average shares outstanding: |
|
|
|
|
|
|
| |
Basic |
|
2,010,974 |
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1,952,544 |
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| Perfomance Ratios |
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| Based on net income: |
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Return on average assets |
|
0.68% |
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0.90% |
|
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Return on average equity |
|
6.94% |
|
11.53% |
|
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| Net interest margin |
|
3.77% |
|
3.24% |
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| Efficiency ratio |
|
71.40% |
|
63.30% |
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