Old Florida Bankshares, Inc, and Subsidiaries

Financial Highlights

(Dollars in thousands, except per share data; unaudited)

At June 30th

2004

2003

Variance

Total Assets

$

203,421

107,246

89.68%

Federal Funds Sold

7,998

1,439

455.80%

Securities

16,682

10,518

58.60%

Loans, net of unearned income

159,115

84,511

88.28%

Reserve for Loan losses

1,610

968

66.32%

Deposits

158,510

90,346

75.45%

Borrowings

22,620

4,354

419.52%

Stockholders' equity

21,054

12,137

73.47%

Book value per share

$

10.91

9.98

Market value per share

13.50

12.00

Common shares outstanding

1,929,595

1,216,595

58.61%

Non-performing loans

$

173

0

Reserve for loan losses/non-performing loans

930.64%

0.00%

Non-performing loans/loans

0.11%

0.00%

Allowance for loan losses/total loans

1.01%

1.15%

OLD FLORIDA BANKSHARES, INC, AND SUBSIDIARIES

Income Statement

(Unaudited)

Three Months Ended June 30th

Six Months Ended June 30th

Earnings

2004

2003

%Change

2004

2003

%Change

Net Interest Income

$

1,829

1,048

74.52%

3,426

2,140

60.09%

Provision for loan losses

120

0

100.00%

183

0

100.00%

Noninterest income

126

141

-10.64%

208

232

-10.34%

Other expense

1,621

1,068

51.78%

3,160

2,070

52.66%

Provision for income tax

87

47

85.11%

115

112

2.68%

Net Income

127

74

71.62%

176

190

-7.37%

Share Data

Earnings per share:*

Basic

0.07

0.06

8.20%

0.09

0.16

-41.60%

Diluted

0.06

0.06

8.57%

0.09

0.15

-41.38%

Weighted average shares outstanding:

Basic

1,929,786

1,216,595

58.62%

1,929,689

1,216,595

58.61%

Diluted

1,958,362

1,238,860

58.08%

1,957,719

1,238,860

58.03%

Performance Ratios

Based on net income:

Return on average assets

0.27%

0.27%

0.19%

0.18%

Return on average equity

2.36%

2.45%

1.64%

1.63%

Net interest margin

4.27%

4.32%

4.16%

4.37%

Efficiency ratio

81.61%

90.16%

78.37%

87.41%