Old Florida Bankshares, Inc, and Subsidiaries

Financial Highlights

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

At September 30th

2004

2003

Variance

Total Assets

$

208,709

156,680

33.21%

Federal Funds Sold

8,022

4,464

79.70%

Securities

16,441

17,764

-7.45%

Loans, net of unearned income

165,202

117,975

40.03%

Reserve for Loan losses

1,655

1,527

8.38%

Deposits

164,628

120,852

36.22%

Borrowings

20,654

12,204

69.24%

Stockholders' equity

21,844

21,366

2.24%

Book value per share

$

11.32

15.98

Market value per share

14.90

13.50

Common shares outstanding

1,930,255

1,336,734

44.40%

Non-performing loans

$

173

1,031

Reserve for loan losses/non-performing loans

956.65%

148.11%

Non-performing loans/loans

0.10%

0.87%

Allowance for loan losses/total loans

1.00%

1.29%

OLD FLORIDA BANKSHARES, INC, AND SUBSIDIARIES

Income Statement

(Unaudited)

Nine Months Ended September 30th

Earnings

           2004

            2003

       %Change

          2004

           2003

       %Change

Net Interest Income

$

1,795

1,233

45.58%

5,207

3,364

54.79%

Provision for loan losses

45

0

100.00%

228

0

100.00%

Noninterest income

185

434

-57.37%

476

675

-29.48%

Other expense

1,620

1,267

27.86%

4,849

3,339

45.22%

Provision for income tax

118

153

-22.88%

233

264

-11.74%

Net Income

197

247

(1)

-20.24%

373

436

(1)

-14.45%

Share Data

Earnings per share:*

Basic

0.10

0.16

-34.99%

0.19

0.33

-40.75%

Weighted average shares outstanding:

Basic

1,929,879

1,573,095

22.68%

1,930,255

1,336,734

44.40%

Perfomance Ratios

Based on net income:

Return on average assets

0.26%

0.78%

0.38%

0.51%

Return on average equity

2.35%

7.37%

3.69%

2.38%

Net interest margin

4.09%

4.25%

3.82%

4.36%

Efficiency ratio

85.05%

76.03%

81.50%

82.66%

(1)

Includes sale of real estate of $297,000