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| 2nd Quarter Financial Highlights -
2005 |
Old Florida Bankshares, Inc, and Subsidiaries
Financial Highlights
(Dollars in thousands, except per share data; unaudited)
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At
June 30th
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2005
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2004
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Variance
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Total
Assets
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$
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277,506
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203,421
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36.42%
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Federal
Funds Sold
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16,024
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7,998
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100.35%
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Securities
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21,462
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16,682
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28.65%
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Loans,
net of unearned income
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216,662
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159,115
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36.17%
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Reserve
for Loan losses
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2,175
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1,610
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35.12%
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Deposits
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241,120
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158,510
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52.12%
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Borrowings
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3,327
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22,620
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-85.29%
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Stockholders'
equity
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22,868
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21,054
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8.62%
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Book
value per share
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$
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11.84
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10.91
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Market
value per share
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19.00
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13.50
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Common
shares outstanding
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1,931,263
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1,929,595
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0.09%
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$
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11
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173
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Reserve
for loan losses/non-performing loans
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19776.87%
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930.64%
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Non-performing
loans/loans
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0.01%
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0.11%
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Allowance
for loan losses/total loans
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1.00%
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1.01%
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| 2nd Quarter Income Statement -
2005 |
OLD FLORIDA BANKSHARES, INC, AND SUBSIDIARIES
Income Statement
(Unaudited)
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Three Months Ended June 30th |
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Six Months Ended June 30th |
Earnings |
2005 |
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2004 |
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%Change |
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2005 |
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2004 |
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%Change |
Net Interest Income $ |
2,368 |
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1,829 |
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29.47% |
$ |
4,473 |
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3,426 |
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30.56% |
Provision for loan losses |
140 |
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120 |
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16.67% |
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345 |
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183 |
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88.52% |
Noninterest income |
204 |
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126 |
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61.90% |
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380 |
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208 |
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82.69% |
Other expense |
1,633 |
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1,621 |
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0.74% |
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3,150 |
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3,160 |
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-0.32% |
Provision for income tax |
292 |
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87 |
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235.63% |
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495 |
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115 |
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330.43% |
Net Income |
507 |
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127 |
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299.21% |
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863 |
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176 |
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390.34% |
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| Share Data |
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Earnings per share:* |
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Basic |
0.26 |
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0.07 |
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298.70% |
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0.45 |
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0.09 |
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389.94% |
Weighted average shares outstanding: |
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Basic |
1,932,260 |
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1,929,786 |
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0.13% |
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1,931,263 |
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1,929,689 |
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0.08% |
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Performance Ratios |
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Based on net income: |
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Return on average assets |
0.76% |
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0.27% |
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0.68% |
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0.19% |
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Return on average equity |
9.01% |
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2.36% |
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7.76% |
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1.64% |
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Net interest margin |
3.53% |
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4.27% |
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3.49% |
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4.16% |
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Efficiency ratio |
63.51% |
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81.61% |
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64.90% |
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78.37% |
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