----

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| FLORIDA                                                                                                                                                                                                                                                                                                                                                                                                                                    |                                                                                                                                         | 65-0655973                           |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------|--------------------------------------|
| (State or other jurisdiction of incorporation or organization)                                                                                                                                                                                                                                                                                                                                                                             |                                                                                                                                         | (I.R.S. Employer Identification No.) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                       |                                                                                                                                         |                                 |
| 599 9th STREET NORTH, SUITE 101, NAPLES, FLORIDA 34102-5624                                                                                                                                                                                                                                                                                                                                                                                |
| (Address of principal executive offices) (Zip Code)                                                                                                                                                                                                                                                                                                                                                                                        |
|                                                                                                                                                                                                                                                                                                                                                                                                                                       |                                                                                                                                         |                                 |
|                                                                                                                                                                                                                                                                                                                                                                                                                                       | (239) 263-3344                                                                                                                               |                                 |
| (Registrant’s telephone number, including area code)                                                                                                                                                                                                                                                                                                                                                                                 |
|                                                                                                                                                                                                                                                                                                                                                                                                                                       |                                                                                                                                         |                                 |
|                                                                                                                                                                                                                                                                                                                                                                                                                                       | Not Applicable                                                                                                                               |                                 |
| (Former name, former address and former fiscal year, if changed since last report)                                                                                                                                                                                                                                                                                                                                                         |
|                                                                                                                                                                                                                                                                                                                                                                                                                                       |                                                                                                                                         |                                 |
|                                                                                                                                                                                                                                                                                                                                                                                                                                       |                                                                                                                                         |                                 |
| Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.  TYes   £No                                         |
|                                                                                                                                                                                                                                                                                                                                                                                                                                       |
| Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).  £Yes   £No |
|                                                                                                                                                                                                                                                                                                                                                                                                                                       |                                                                                                                                         |                                 |
| Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See definitions of “accelerated filer”, “ large accelerated filer” and  “smaller reporting company” in Rule 12b-2 of the Exchange Act (Check one):                                                                                |
| £ Large accelerated filer                                                                                                                                                                                                                                                                                                                                                                                                             | £ Accelerated filer                                                                                                                     |                                 |
|                     T Non-accelerated filer                                                                                                                                                                                                                                                                                            |                   £ Smaller reporting company |                                 |
|                                                                                                                                                                                                                                                                                                                                                                                                                                       |                                                                                                                                         |                                 |
| Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).  £Yes    TNo                                                                                                                                                                                                                                                                           |
|                                                                                                                                                                                                                                                                                                                                                                                                                                       |                                                                                                                                         |                                 |
| Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date:                                                                                                                                                                                                                                                                                                        |
|                                                                                                                                                                                                                                                                                                                                                                                                                                       |                                                                                                                                         |                                 |
| Common Stock, $0.10 Par Value                                                                                                                                                                                                                                                                                                                                                                                                              |                                                                                                                                         | 14,887,922                           |
| Class                                                                                                                                                                                                                                                                                                                                                                                                                                      |                                                                                                                                         | Outstanding as of April 30, 2010     |

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| PART I.  FINANCIAL INFORMATION                                                                       |   |
|----------------------------------------------------------------------------------------------------------------|--------|
| Item 1.  Financial Statements                                                                        | 3      |
| Item 2.  Management’s Discussion and Analysis of Financial Condition and Results of Operations | 19     |
| Item 3.  Quantitative and Qualitative Disclosures About Market Risk                                  | 34     |
| Item 4.  Controls and Procedures                                                                     | 34     |
|                                                                                                           |   |
| PART II.  OTHER INFORMATION                                                                          |   |
| Item 1a. Risk Factors                                                                                          | 34     |
| Item 4.  Other Information                                                                           | 34     |
| Item 5.  Exhibits                                                                                    | 34     |

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| TIB FINANCIAL CORP.CONSOLIDATED BALANCE SHEETS                                                            (Dollars in thousands, except per share data) |   |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   | March 31, 2010 |   |   | December 31, 2009 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   | (Unaudited) |   |   |   |   |
| Assets                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |   |   |   |   |   |
| Cash and due from banks                                                                                                                                                                                                                                                                                                                                                                                                                                        |   | $ | 149,337 |   |   | $ | 167,402 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |   |   |   |   |   |   |   |
| Investment securities available for sale                                                                                                                                                                                                                                                                                                                                                                                                                       |   |   | 305,698 |   |   |   | 250,339 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |   |   |   |   |   |   |   |
| Loans, net of deferred loan costs and fees                                                                                                                                                                                                                                                                                                                                                                                                                     |   |   | 1,127,615 |   |   |   | 1,197,516 |   |
| Less: Allowance for loan losses                                                                                                                                                                                                                                                                                                                                                                                                                                |   |   | 27,829 |   |   |   | 29,083 |   |
| Loans, net                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |   | 1,099,786 |   |   |   | 1,168,433 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |   |   |   |   |   |   |   |
| Premises and equipment, net                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |   | 40,651 |   |   |   | 40,822 |   |
| Goodwill                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |   | 622 |   |   |   | 622 |   |
| Intangible assets, net                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |   | 6,277 |   |   |   | 6,667 |   |
| Other real estate owned                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |   | 41,078 |   |   |   | 21,352 |   |
| Accrued interest receivable and other assets                                                                                                                                                                                                                                                                                                                                                                                                                   |   |   | 47,208 |   |   |   | 49,770 |   |
| Total Assets                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   | $ | 1,690,657 |   |   | $ | 1,705,407 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |   |   |   |   |   |   |   |
| Liabilities and Shareholders’ Equity                                                                                                                                                                                                                                                                                                                                                                                                                     |   |   |   |   |   |   |   |   |
| Liabilities                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |   |   |   |   |   |   |   |
| Deposits:                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |   |   |   |   |   |   |   |
| Noninterest-bearing demand                                                                                                                                                                                                                                                                                                                                                                                                                                     |   | $ | 200,340 |   |   | $ | 171,821 |   |
| Interest-bearing                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |   | 1,168,650 |   |   |   | 1,197,563 |   |
| Total deposits                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |   | 1,368,990 |   |   |   | 1,369,384 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |   |   |   |   |   |   |   |
| Federal Home Loan Bank (FHLB) advances                                                                                                                                                                                                                                                                                                                                                                                                                         |   |   | 125,000 |   |   |   | 125,000 |   |
| Short-term borrowings                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |   | 69,693 |   |   |   | 80,475 |   |
| Long-term borrowings                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |   | 63,000 |   |   |   | 63,000 |   |
| Accrued interest payable and other liabilities                                                                                                                                                                                                                                                                                                                                                                                                                 |   |   | 13,188 |   |   |   | 12,030 |   |
| Total liabilities                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |   | 1,639,871 |   |   |   | 1,649,889 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |   |   |   |   |   |   |   |
| Shareholders’ equity                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |   |   |   |   |   |   |   |
| Preferred stock – $.10 par value: 5,000,000 shares authorized, 37,000 shares issued and outstanding, liquidation preference of $38,173 and $37,702, respectively                                                                                                                                                                                                                                                                                         |   |   | 33,919 |   |   |   | 33,730 |   |
| Common stock - $.10 par value: 100,000,000 shares authorized, 14,961,376 shares issued, 14,887,922 shares outstanding                                                                                                                                                                                                                                                                                                                                          |   |   | 1,496 |   |   |   | 1,496 |   |
| Additional paid in capital                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |   | 74,823 |   |   |   | 74,673 |   |
| Accumulated deficit                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |   | (55,234 | ) |   |   | (49,994 | ) |
| Accumulated other comprehensive loss                                                                                                                                                                                                                                                                                                                                                                                                                           |   |   | (3,649 | ) |   |   | (3,818 | ) |
| Treasury stock, at cost, 73,454 shares                                                                                                                                                                                                                                                                                                                                                                                                                         |   |   | (569 | ) |   |   | (569 | ) |
| Total shareholders’ equity                                                                                                                                                                                                                                                                                                                                                                                                                               |   |   | 50,786 |   |   |   | 55,518 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |   |   |   |   |   |   |   |
| Total Liabilities and Shareholders’ Equity                                                                                                                                                                                                                                                                                                                                                                                                               |   | $ | 1,690,657 |   |   | $ | 1,705,407 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |   |   |   |   |   |   |   |
| See accompanying notes to consolidated financial statements                                                                                                                                                                                                                                                                                                                                                                                                    |   |

----

|                                                                                                     |   | Three Months EndedMarch 31 |   |
|----------------------------------------------------------------------------------------------------------|--------|----------------------------|--------|
|                                                                                                     |   | 2010                       |   |   | 2009 |   |
| Interest and dividend income                                                                             |   |                       |   |   |   |   |
| Loans, including fees                                                                                    |   | $                          | 15,999 |   |   | $ | 17,839 |   |
| Investment securities:                                                                                   |   |                       |   |   |   |   |   |   |
| Taxable                                                                                                  |   |                       | 2,144  |   |   |   | 2,904 |   |
| Tax-exempt                                                                                               |   |                       | 67     |   |   |   | 75 |   |
| Interest-bearing deposits in other banks                                                                 |   |                       | 74     |   |   |   | 20 |   |
| Federal Home Loan Bank stock                                                                             |   |                       | 3      |   |   |   | (19 | ) |
| Federal funds sold and securities purchased under agreements to resell                                   |   |                       | -      |   |   |   | 3 |   |
| Total interest and dividend income                                                                       |   |                       | 18,287 |   |   |   | 20,822 |   |
|                                                                                                     |   |                       |   |   |   |   |   |   |
| Interest expense                                                                                         |   |                       |   |   |   |   |   |   |
| Deposits                                                                                                 |   |                       | 4,902  |   |   |   | 7,899 |   |
| Federal Home Loan Bank advances                                                                          |   |                       | 1,214  |   |   |   | 1,406 |   |
| Short-term borrowings                                                                                    |   |                       | 23     |   |   |   | 24 |   |
| Long-term borrowings                                                                                     |   |                       | 654    |   |   |   | 736 |   |
| Total interest expense                                                                                   |   |                       | 6,793  |   |   |   | 10,065 |   |
|                                                                                                     |   |                       |   |   |   |   |   |   |
| Net interest income                                                                                      |   |                       | 11,494 |   |   |   | 10,757 |   |
|                                                                                                     |   |                       |   |   |   |   |   |   |
| Provision for loan losses                                                                                |   |                       | 4,925  |   |   |   | 5,309 |   |
| Net interest income after provision for loan losses                                                      |   |                       | 6,569  |   |   |   | 5,448 |   |
|                                                                                                     |   |                       |   |   |   |   |   |   |
| Non-interest income                                                                                      |   |                       |   |   |   |   |   |   |
| Service charges on deposit accounts                                                                      |   |                       | 915    |   |   |   | 966 |   |
| Fees on mortgage loans originated and sold                                                               |   |                       | 283    |   |   |   | 115 |   |
| Investment advisory and trust fees                                                                       |   |                       | 307    |   |   |   | 193 |   |
| Loss on sale of indirect auto loans                                                                      |   |                       | (346   | ) |   |   | - |   |
| Other income                                                                                             |   |                       | 613    |   |   |   | 509 |   |
| Investment securities gains (losses), net                                                                |   |                       | 1,642  |   |   |   | 619 |   |
| Other-than-temporary impairment losses on investments prior to April 1, 2009 adoption of ASC 320-10-65-1 |   |                       | -      |   |   |   | (23 | ) |
| Other-than-temporary impairment losses on investments subsequent to April 1, 2009                        |   |                       |   |   |   |   |   |   |
| Gross impairment losses                                                                                  |   |                       | -      |   |   |   | N/A |   |
| Less: Impairments recognized in other comprehensive income                                               |   |                       | -      |   |   |   | N/A |   |
| Net impairment losses recognized in earnings subsequent to April 1, 2009                                 |   |                       | -      |   |   |   | N/A |   |
| Total non-interest income                                                                                |   |                       | 3,414  |   |   |   | 2,379 |   |
|                                                                                                     |   |                       |   |   |   |   |   |   |
| Non-interest expense                                                                                     |   |                       |   |   |   |   |   |   |
| Salaries and employee benefits                                                                           |   |                       | 6,836  |   |   |   | 7,380 |   |
| Net occupancy and equipment expense                                                                      |   |                       | 2,284  |   |   |   | 2,152 |   |
| Other expense                                                                                            |   |                       | 5,914  |   |   |   | 3,835 |   |
| Total non-interest expense                                                                               |   |                       | 15,034 |   |   |   | 13,367 |   |
|                                                                                                     |   |                       |   |   |   |   |   |   |
| Loss before income taxes                                                                                 |   |                       | (5,051 | ) |   |   | (5,540 | ) |
|                                                                                                     |   |                       |   |   |   |   |   |   |
| Income tax benefit                                                                                       |   |                       | -      |   |   |   | (2,082 | ) |
|                                                                                                     |   |                       |   |   |   |   |   |   |
| Net Loss                                                                                                 |   | $                          | (5,051 | ) |   | $ | (3,458 | ) |
| Preferred dividends earned by preferred shareholders and discount accretion                              |   |                       | 660    |   |   |   | 708 |   |
| Net loss allocated to common shareholders                                                                |   | $                          | (5,711 | ) |   | $ | (4,166 | ) |
|                                                                                                     |   |                       |   |   |   |   |   |   |
| Basic and diluted loss per common share                                                                  |   | $                          | (0.38  | ) |   | $ | (0.28 | ) |
|                                                                                                     |   |                       |   |   |   |   |   |   |

----

|                                                             |   |  PreferredShares |   |   |  PreferredStock |   |   | Common Shares |   |   | Common Stock |   |   | Additional Paid in Capital |   |   | Accumulated Deficit |   |   | Accumulated Other Comprehensive Income (Loss) |   |   | TreasuryStock |   |   | Total Shareholders’ Equity |   |
|------------------------------------------------------------------|--------|-----------------------|--------|--------|----------------------|--------|--------|---------------|--------|--------|--------------|--------|--------|----------------------------|--------|--------|---------------------|--------|--------|-----------------------------------------------|--------|--------|---------------|--------|--------|----------------------------------|--------|
| Balance, January 1, 2010                                         |   |                  | 37,000 |   |                 | $      | 33,730 |          |   |   | 14,887,922   |   |   | $                          | 1,496  |   |                | $      | 74,673 |                                          |   | $      | (49,994       | )      |   | $                                | (3,818 | ) |   | $ | (569 | ) |   | $ | 55,518 |   |
| Comprehensive loss:                                              |   |                  |   |   |                 |   |   |          |   |   |         |   |   |                       |   |   |                |   |   |                                          |   |   |          |   |   |                             |   |   |   |   |   |   |   |   |   |   |
| Net loss                                                         |   |                  |   |   |                 |   |   |          |   |   |         |   |   |                       |   |   |                |   |   |                                          |   |   | (5,051        | )      |   |                             |   |   |   |   |   |   |   |   | (5,051 | ) |
| Other comprehensive income                                       |   |                  |   |   |                 |   |   |          |   |   |         |   |   |                       |   |   |                |   |   |                                          |   |   |          |   |   |                             |   |   |   |   |   |   |   |   |   |   |
| Net market valuation adjustment on securities available for sale |   |                  |   |   |                 |   |   |          |   |   |         |   |   |                       |   |   |                |   |   |                                          |   |   |          |   |   |                             | 1,811  |   |   |   |   |   |   |   |   |   |
| Less: reclassification adjustment for gains                      |   |                  |   |   |                 |   |   |          |   |   |         |   |   |                       |   |   |                |   |   |                                          |   |   |          |   |   |                             | (1,642 | ) |   |   |   |   |   |   |   |   |
| Other comprehensive   income:                          |   |                  |   |   |                 |   |   |          |   |   |         |   |   |                       |   |   |                |   |   |                                          |   |   |          |   |   |                             |   |   |   |   |   |   |   |   | 169 |   |
| Comprehensive loss                                               |   |                  |   |   |                 |   |   |          |   |   |         |   |   |                       |   |   |                |   |   |                                          |   |   |          |   |   |                             |   |   |   |   |   |   |   |   | (4,882 | ) |
| Preferred stock discount accretion                               |   |                  |   |   |                 |   | 189    |          |   |   |         |   |   |                       |   |   |                |   |   |                                          |   |   | (189          | )      |   |                             |   |   |   |   |   |   |   |   | - |   |
| Stock-based compensation                                         |   |                  |   |   |                 |   |   |          |   |   |         |   |   |                       |   |   |                |   | 150    |                                          |   |   |          |   |   |                             |   |   |   |   |   |   |   |   | 150 |   |
| Balance, March 31, 2010                                          |   |                  | 37,000 |   |                 | $      | 33,919 |          |   |   | 14,887,922   |   |   | $                          | 1,496  |   |                | $      | 74,823 |                                          |   | $      | (55,234       | )      |   | $                                | (3,649 | ) |   | $ | (569 | ) |   | $ | 50,786 |   |
|                                                             |   |                  |   |   |                 |   |   |          |   |   |         |   |   |                       |   |   |                |   |   |                                          |   |   |          |   |   |                             |   |   |   |   |   |   |   |   |   |   |

----

|                                                                    |   |  PreferredShares |   |   |  PreferredStock |   |   | Common Shares |   |   | Common Stock |   |   | Additional Paid in Capital |   |   | Retained Earnings |   |   | Accumulated Other Comprehensive Income (Loss) |   |   | TreasuryStock |   |   | Total Shareholders’ Equity |   |
|-------------------------------------------------------------------------|--------|-----------------------|--------|--------|----------------------|--------|--------|---------------|--------|--------|--------------|--------|--------|----------------------------|--------|--------|-------------------|--------|--------|-----------------------------------------------|--------|--------|---------------|--------|--------|----------------------------------|--------|
| Balance, January 1, 2009                                                |   |                  | 37,000 |   |                 | $      | 32,920 |          |   |   | 14,895,143   |   |   | $                          | 1,497  |   |              | $      | 73,148 |                                          |   | $      | 14,737        |   |   | $                                | (619   | ) |   | $ | (569 | ) |   | $ | 121,114 |   |
| Comprehensive loss:                                                     |   |                  |   |   |                 |   |   |          |   |   |         |   |   |                       |   |   |              |   |   |                                          |   |   |          |   |   |                             |   |   |   |   |   |   |   |   |   |   |
| Net loss                                                                |   |                  |   |   |                 |   |   |          |   |   |         |   |   |                       |   |   |              |   |   |                                          |   |   | (3,458        | )      |   |                             |   |   |   |   |   |   |   |   | (3,458 | ) |
| Other comprehensive income, net of tax expense of $245                  |   |                  |   |   |                 |   |   |          |   |   |         |   |   |                       |   |   |              |   |   |                                          |   |   |          |   |   |                             |   |   |   |   |   |   |   |   |   |   |
| Net market valuation adjustment on securities available for sale        |   |                  |   |   |                 |   |   |          |   |   |         |   |   |                       |   |   |              |   |   |                                          |   |   |          |   |   |                             | 777    |   |   |   |   |   |   |   |   |   |
| Less: reclassification adjustment for gains, net of tax expense of $224 |   |                  |   |   |                 |   |   |          |   |   |         |   |   |                       |   |   |              |   |   |                                          |   |   |          |   |   |                             | (372   | ) |   |   |   |   |   |   |   |   |
| Other comprehensive income                                              |   |                  |   |   |                 |   |   |          |   |   |         |   |   |                       |   |   |              |   |   |                                          |   |   |          |   |   |                             |   |   |   |   |   |   |   |   | 405 |   |
| Comprehensive loss                                                      |   |                  |   |   |                 |   |   |          |   |   |         |   |   |                       |   |   |              |   |   |                                          |   |   |          |   |   |                             |   |   |   |   |   |   |   |   | (3,053 | ) |
| Issuance costs associated with preferred stock issued                   |   |                  |   |   |                 |   |   |          |   |   |         |   |   |                       |   |   |              |   | (48    | )                                             |   |   |          |   |   |                             |   |   |   |   |   |   |   |   | (48 | ) |
| Preferred stock discount accretion                                      |   |                  |   |   |                 |   | 246    |          |   |   |         |   |   |                       |   |   |              |   |   |                                          |   |   | (246          | )      |   |                             |   |   |   |   |   |   |   |   | - |   |
| Stock-based compensation and related tax effect                         |   |                  |   |   |                 |   |   |          |   |   |         |   |   |                       |   |   |              |   | 199    |                                          |   |   |          |   |   |                             |   |   |   |   |   |   |   |   | 199 |   |
| Common stock dividends declared, 1%                                     |   |                  |   |   |                 |   |   |          |   |   |         |   |   |                       |   |   |              |   | 469    |                                          |   |   | (469          | )      |   |                             |   |   |   |   |   |   |   |   | - |   |
| Cash dividends declared, preferred stock                                |   |                  |   |   |                 |   |   |          |   |   |         |   |   |                       |   |   |              |   |   |                                          |   |   | (360          | )      |   |                             |   |   |   |   |   |   |   |   | (360 | ) |
| Balance, March 31, 2009                                                 |   |                  | 37,000 |   |                 | $      | 33,166 |          |   |   | 14,895,143   |   |   | $                          | 1,497  |   |              | $      | 73,768 |                                          |   | $      | 10,204        |   |   | $                                | (214   | ) |   | $ | (569 | ) |   | $ | 117,852 |   |
|                                                                    |   |                  |   |   |                 |   |   |          |   |   |         |   |   |                       |   |   |              |   |   |                                          |   |   |          |   |   |                             |   |   |   |   |   |   |   |   |   |   |

----

| TIB FINANCIAL CORP.CONSOLIDATED STATEMENTS OF CASH FLOWSINCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS(Unaudited)(Dollars in thousands) |   |
|-------------------------------------------------------------------------------------------------------------------------------------------|--------|
|                                                                                                                                      |   | Three Months Ended March 31, |   |
|                                                                                                                                      |   | 2010 |   |   | 2009 |   |
| Cash flows from operating activities:                                                                                                     |   |   |   |   |   |   |
| Net loss                                                                                                                                  |   | $ | (5,051 | ) |   | $ | (3,458 | ) |
| Adjustments to reconcile net loss to net cash provided by operating activities:                                                           |   |   |   |   |   |   |   |   |
| Depreciation and amortization                                                                                                             |   |   | 1,123 |   |   |   | 999 |   |
| Provision for loan losses                                                                                                                 |   |   | 4,925 |   |   |   | 5,309 |   |
| Deferred income tax benefit (loss)                                                                                                        |   |   | - |   |   |   | (3,129 | ) |
| Investment securities net realized gains                                                                                                  |   |   | (1,641 | ) |   |   | (619 | ) |
| Net amortization of investment premium/discount                                                                                           |   |   | 761 |   |   |   | 261 |   |
| Write-down of investment securities                                                                                                       |   |   | - |   |   |   | 23 |   |
| Stock-based compensation                                                                                                                  |   |   | 150 |   |   |   | 204 |   |
| (Gain)/Loss on sales of OREO                                                                                                              |   |   | 125 |   |   |   | (3 | ) |
| Loss on the sale of indirect auto loans                                                                                                   |   |   | 346 |   |   |   | - |   |
| Other                                                                                                                                     |   |   | 328 |   |   |   | 129 |   |
| Mortgage loans originated for sale                                                                                                        |   |   | (16,304 | ) |   |   | (6,017 | ) |
| Proceeds from sales of mortgage loans                                                                                                     |   |   | 17,710 |   |   |   | 4,538 |   |
| Fees on mortgage loans sold                                                                                                               |   |   | (283 | ) |   |   | (98 | ) |
| Change in accrued interest receivable and other assets                                                                                    |   |   | 1,818 |   |   |   | 1,146 |   |
| Change in accrued interest payable and other liabilities                                                                                  |   |   | 1,405 |   |   |   | (159 | ) |
| Net cash provided by operating activities                                                                                                 |   |   | 5,412 |   |   |   | (874 | ) |
|                                                                                                                                      |   |   |   |   |   |   |   |   |
| Cash flows from investing activities:                                                                                                     |   |   |   |   |   |   |   |   |
| Purchases of investment securities available for sale                                                                                     |   |   | (158,600 | ) |   |   | (446,418 | ) |
| Sales of investment securities available for sale                                                                                         |   |   | 69,956 |   |   |   | 191,695 |   |
| Repayments of principal and maturities of investment securities available for sale                                                        |   |   | 34,335 |   |   |   | 47,629 |   |
| Net cash received in acquisition of operations - Riverside Bank of the Gulf Coast                                                         |   |   | - |   |   |   | 280,436 |   |
| Net (purchase) sale of FHLB stock                                                                                                         |   |   | - |   |   |   | (298 | ) |
| Principal repayments on loans, net of loans originated or acquired                                                                        |   |   | 20,487 |   |   |   | 1,294 |   |
| Purchases of premises and equipment                                                                                                       |   |   | (518 | ) |   |   | (455 | ) |
| Proceeds from sales of loans                                                                                                              |   |   | 20,569 |   |   |   | - |   |
| Proceeds from sale of OREO                                                                                                                |   |   | 1,741 |   |   |   | 111 |   |
| Net cash provided by (used in) investing activities                                                                                       |   |   | (12,030 | ) |   |   | 73,994 |   |
|                                                                                                                                      |   |   |   |   |   |   |   |   |
| Cash flows from financing activities:                                                                                                     |   |   |   |   |   |   |   |   |
| Net increase (decrease) in demand, money market and savings accounts                                                                      |   |   | (36,701 | ) |   |   | 54,683 |   |
| Net increase (decrease) in time deposits                                                                                                  |   |   | 65,799 |   |   |   | (19,181 | ) |
| Net change in brokered time deposits                                                                                                      |   |   | (29,763 | ) |   |   | (54,343 | ) |
| Net increase (decrease) in federal funds purchased and securities sold under agreements to repurchase                                     |   |   | (10,782 | ) |   |   | (2,233 | ) |
| Net change in short term FHLB advances                                                                                                    |   |   | - |   |   |   | (70,000 | ) |
| Income tax effect related to stock-based compensation                                                                                     |   |   | - |   |   |   | (5 | ) |
| Net proceeds from issuance costs of preferred stock and common warrants                                                                   |   |   | - |   |   |   | (48 | ) |
| Cash dividends paid to preferred shareholders                                                                                             |   |   | - |   |   |   | (360 | ) |
| Net cash provided by (used in) financing activities                                                                                       |   |   | (11,447 | ) |   |   | (91,487 | ) |
|                                                                                                                                      |   |   |   |   |   |   |   |   |
| Net increase in cash and cash equivalents                                                                                                 |   |   | (18,065 | ) |   |   | (18,367 | ) |
| Cash and cash equivalents at beginning of period                                                                                          |   |   | 167,402 |   |   |   | 73,734 |   |
| Cash and cash equivalents at end of period                                                                                                |   | $ | 149,337 |   |   | $ | 55,367 |   |
|                                                                                                                                      |   |   |   |   |   |   |   |   |
| Supplemental disclosures of cash paid:                                                                                                    |   |   |   |   |   |   |   |   |
| Interest                                                                                                                                  |   | $ | 5,830 |   |   | $ | 9,536 |   |
| Supplemental information:                                                                                                                 |   |   |   |   |   |   |   |   |
| Fair value of noncash assets acquired                                                                                                     |   | $ | - |   |   | $ | 39,413 |   |
| Fair value of liabilities assumed                                                                                                         |   |   | - |   |   |   | 320,594 |   |
| Transfer of loans to OREO                                                                                                                 |   |   | 21,975 |   |   |   | 928 |   |
| See accompanying notes to consolidated financial statements                                                                               |   |

----

| ·   | First and foremost, we continue to meet with potential investors in pursuit of additional capital. As recently announced, we have agreed on the terms for the placement of up to $25,000 to Patriot Financial Partners, L.P. as part of the offering of up to 600,000,000 shares of our common stock in a private placement of common and/or preferred shares with the intent of raising up to $200,000. It is the main focus of our Board of Directors and management team over the coming months and requires the approval of shareholders to increase the number of authorized shares of common stock and authorize the private placement of greater than 20% of the ownership of the outstanding common stock of the Company.  These requests for shareholder authorization were included in our proxy statement which was filed on April 29, 2010 and are scheduled to be voted on at the annual meeting of shareholders on May 25, 2010. |
|--------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| ·   | Second, to continue to operate the Company and attempt to maintain the bank at adequately capitalized until we complete our planned capital raise. This will most likely require us to reduce lending, potentially sell loans, and take significant operating expense reductions and other cost cutting measures aimed at lowering expenses. Additionally we may adjust the mix of our assets to reduce the total risk weight of our assets, reduce total assets over time and potentially sell branches, deposits and loans.  During the first quarter of 2010, we were able to sell $20,144 of indirect loans enabling us to reduce the amount of risk weighted assets. |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Third, in the event the issuance of additional capital is not possible in the near term, seek strategic alternatives including but not limited to the sale of certain assets, all or a portion of the Company, or seeking a complementary partner in a merger of equals or where the Company is acquired. |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

----

|                                                |   | March 31, 2010 |    |
|-----------------------------------------------------|--------|----------------|---------|
|                                                |   | Amortized Cost |    |   | Unrealized Gains |   |   | Unrealized Losses |   |   | Estimated Fair Value |   |
| U.S. Government agencies and corporations           |   | $              | 27,979  |   |   | $ | 55 |   |   | $ | 19 |   |   | $ | 28,015 |   |
| States and political subdivisions—tax exempt  |   |           | 4,509   |   |   |   | 94 |   |   |   | 2 |   |   |   | 4,601 |   |
| States and political subdivisions—taxable     |   |           | 2,312   |   |   |   | - |   |   |   | 161 |   |   |   | 2,151 |   |
| Marketable equity securities                        |   |           | 12      |   |   |   | 238 |   |   |   | - |   |   |   | 250 |   |
| Mortgage-backed securities -  residential |   |           | 267,036 |   |   |   | 1,472 |   |   |   | 587 |   |   |   | 267,921 |   |
| Corporate bonds                                     |   |           | 2,879   |   |   |   | - |   |   |   | 888 |   |   |   | 1,991 |   |
| Collateralized debt obligation                      |   |           | 4,992   |   |   |   | - |   |   |   | 4,223 |   |   |   | 769 |   |
|                                                |   | $              | 309,719 |   |   | $ | 1,859 |   |   | $ | 5,880 |   |   | $ | 305,698 |   |

|                                                |   | December 31, 2009 |    |
|-----------------------------------------------------|--------|-------------------|---------|
|                                                |   | Amortized Cost    |    |   | Unrealized Gains |   |   | Unrealized Losses |   |   | Estimated Fair Value |   |
| U.S. Government agencies and corporations           |   | $                 | 29,232  |   |   | $ | 24 |   |   | $ | 84 |   |   | $ | 29,172 |   |
| States and political subdivisions—tax exempt  |   |              | 7,754   |   |   |   | 307 |   |   |   | - |   |   |   | 8,061 |   |
| States and political subdivisions—taxable     |   |              | 2,313   |   |   |   | - |   |   |   | 101 |   |   |   | 2,212 |   |
| Marketable equity securities                        |   |              | 12      |   |   |   | - |   |   |   | 4 |   |   |   | 8 |   |
| Mortgage-backed securities -  residential |   |              | 207,344 |   |   |   | 2,083 |   |   |   | 1,312 |   |   |   | 208,115 |   |
| Corporate bonds                                     |   |              | 2,878   |   |   |   | - |   |   |   | 866 |   |   |   | 2,012 |   |
| Collateralized debt obligation                      |   |              | 4,996   |   |   |   | - |   |   |   | 4,237 |   |   |   | 759 |   |
|                                                |   | $                 | 254,529 |   |   | $ | 2,414 |   |   | $ | 6,604 |   |   | $ | 250,339 |   |

|                                     |   |         March 31, 2010 |    |
|------------------------------------------|--------|-----------------------------------------------------------|---------|
|                                     |   | Fair Value                                                |    |   | Amortized Cost |   |
| Due in one year or less                  |   | $                                                         | 276     |   |   | $ | 275 |   |
| Due after one year through five years    |   |                                                      | 15,162  |   |   |   | 15,047 |   |
| Due after five years through ten years   |   |                                                      | 12,191  |   |   |   | 12,166 |   |
| Due after ten years                      |   |                                                      | 9,898   |   |   |   | 15,183 |   |
| Marketable equity securities             |   |                                                      | 250     |   |   |   | 12 |   |
| Mortgage-backed securities - residential |   |                                                      | 267,921 |   |   |   | 267,036 |   |
|                                     |   | $                                                         | 305,698 |   |   | $ | 309,719 |   |
|                                     |   |                                                      |    |   |   |   |   |   |

----

|                                               |   | Less than 12 Months  |   |   | 12 Months or Longer |   |   | Total                |   |
|----------------------------------------------------|--------|----------------------|--------|--------|---------------------|--------|--------|----------------------|--------|
| March 31, 2010                                     |   | Estimated Fair Value |   |   | Unrealized Losses   |   |   | Estimated Fair Value |   |   | Unrealized Losses |   |   | Estimated Fair Value |   |   | Unrealized Losses |   |
| U.S. Government agencies and corporations          |   | $                    | 14,955 |   |                | $      | 19     |                 |   | $ | - |   |   | $ | - |   |   | $ | 14,955 |   |   | $ | 19 |   |
| States and political subdivisions—tax exempt |   |                 | 551    |   |                |   | 2      |                 |   |   | - |   |   |   | - |   |   |   | 551 |   |   |   | 2 |   |
| States and political subdivisions—taxable    |   |                 | -      |   |                |   | -      |                 |   |   | 2,151 |   |   |   | 161 |   |   |   | 2,151 |   |   |   | 161 |   |
| Mortgage-backed securities - residential           |   |                 | 68,590 |   |                |   | 587    |                 |   |   | - |   |   |   | - |   |   |   | 68,590 |   |   |   | 587 |   |
| Corporate bonds                                    |   |                 | -      |   |                |   | -      |                 |   |   | 1,991 |   |   |   | 888 |   |   |   | 1,991 |   |   |   | 888 |   |
| Collateralized debt obligation                     |   |                 | -      |   |                |   | -      |                 |   |   | 769 |   |   |   | 4,223 |   |   |   | 769 |   |   |   | 4,223 |   |
| Total temporarily impaired                         |   | $                    | 84,096 |   |                | $      | 608    |                 |   | $ | 4,911 |   |   | $ | 5,272 |   |   | $ | 89,007 |   |   | $ | 5,880 |   |
|                                               |   |                 |   |   |                |   |   |                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

|                                               |   | Less than 12 Months  |    |   | 12 Months or Longer |   |   | Total                |   |
|----------------------------------------------------|--------|----------------------|---------|--------|---------------------|--------|--------|----------------------|--------|
| December 31, 2009                                  |   | Estimated Fair Value |    |   | Unrealized Losses   |   |   | Estimated Fair Value |   |   | Unrealized Losses |   |   | Estimated Fair Value |   |   | Unrealized Losses |   |
| U.S. Government agencies and corporations          |   | $                    | 5,034   |   |                | $      | 84     |                 |   | $ | - |   |   | $ | - |   |   | $ | 5,034 |   |   | $ | 84 |   |
| States and political subdivisions—tax exempt |   |                 | -       |   |                |   | -      |                 |   |   | 275 |   |   |   | - |   |   |   | 275 |   |   |   | - |   |
| States and political subdivisions-taxable          |   |                 | -       |   |                |   | -      |                 |   |   | 2,212 |   |   |   | 101 |   |   |   | 2,212 |   |   |   | 101 |   |
| Marketable equity securities                       |   |                 | 8       |   |                |   | 4      |                 |   |   | - |   |   |   | - |   |   |   | 8 |   |   |   | 4 |   |
| Mortgage-backed securities - residential           |   |                 | 98,746  |   |                |   | 1,206  |                 |   |   | 10,542 |   |   |   | 106 |   |   |   | 109,288 |   |   |   | 1,312 |   |
| Corporate bonds                                    |   |                 | -       |   |                |   | -      |                 |   |   | 2,012 |   |   |   | 866 |   |   |   | 2,012 |   |   |   | 866 |   |
| Collateralized debt obligation                     |   |                 | -       |   |                |   | -      |                 |   |   | 759 |   |   |   | 4,237 |   |   |   | 759 |   |   |   | 4,237 |   |
| Total temporarily impaired                         |   | $                    | 103,788 |   |                | $      | 1,294  |                 |   | $ | 15,800 |   |   | $ | 5,310 |   |   | $ | 119,588 |   |   | $ | 6,604 |   |
|                                               |   |                 |    |   |                |   |   |                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

----

|                                        |   | Three Months Ended March 31, 2010 |   |
|---------------------------------------------|--------|-----------------------------------|--------|
| Beginning balance, January 1, 2010          |   | $                                 | 9,996  |   |
| Additions/Subtractions                      |   |                              |   |   |
| Credit losses recognized during the quarter |   |                              | -      |   |
| Ending balance, March 31, 2010              |   | $                                 | 9,996  |   |
|                                        |   |                              |   |   |

|                              |   | March 31, 2010 |      |   | December 31,2009 |   |
|-----------------------------------|--------|---------------------|-----------|--------|------------------|--------|
| Real estate mortgage loans:       |   |                |      |   |             |   |
| Commercial                        |   | $                   | 662,875   |   |             | $      | 680,409 |   |
| Residential                       |   |                | 234,608   |   |             |   | 236,945 |   |
| Farmland                          |   |                | 13,798    |   |             |   | 13,866 |   |
| Construction and vacant land      |   |                | 72,215    |   |             |   | 97,424 |   |
| Commercial and agricultural loans |   |                | 70,660    |   |             |   | 69,246 |   |
| Indirect auto loans               |   |                | 25,634    |   |             |   | 50,137 |   |
| Home equity loans                 |   |                | 37,226    |   |             |   | 37,947 |   |
| Other consumer loans              |   |                | 9,592     |   |             |   | 10,190 |   |
| Total loans                       |   |                | 1,126,608 |   |             |   | 1,196,164 |   |
|                              |   |                |      |   |             |   |   |   |
| Net deferred loan costs           |   |                | 1,007     |   |             |   | 1,352 |   |
| Loans, net of deferred loan costs |   | $                   | 1,127,615 |   |             | $      | 1,197,516 |   |

----

|                                         |   | Three Months EndedMarch 31, |   |
|----------------------------------------------|--------|-----------------------------|--------|
|                                         |   | 2010                        |   |   | 2009 |   |
| Balance, beginning of period                 |   | $                           | 29,083 |   |   | $ | 23,783 |   |
| Provision for loan losses charged to expense |   |                        | 4,925  |   |   |   | 5,309 |   |
| Loans charged off                            |   |                        | (6,353 | ) |   |   | (3,622 | ) |
| Recoveries of loans previously charged off   |   |                        | 174    |   |   |   | 18 |   |
| Balance, March 31                            |   | $                           | 27,829 |   |   | $ | 25,488 |   |

|   | Nonaccrual loans were as follows: |
|--------|-----------------------------------|

|                                   |   | As of March 31, 2010 |   |   | As of December 31, 2009 |   |
|----------------------------------------|--------|----------------------|--------|--------|-------------------------|--------|
| Collateral Type                        |   | Number ofLoans       |   |   | Outstanding Balance     |   |   | Number ofLoans |   |   | Outstanding Balance |   |
| Residential 1-4 family                 |   |                 | 33     |   |                    | $      | 9,278 |   |   |   | 36 |   |   | $ | 9,250 |   |
| Home equity loans                      |   |                 | 6      |   |                    |   | 1,012 |   |   |   | 8 |   |   |   | 1,488 |   |
| Commercial 1-4 family investment       |   |                 | 10     |   |                    |   | 5,443 |   |   |   | 19 |   |   |   | 8,733 |   |
| Commercial and agricultural            |   |                 | 5      |   |                    |   | 2,770 |   |   |   | 7 |   |   |   | 2,454 |   |
| Commercial real estate                 |   |                 | 25     |   |                    |   | 17,585 |   |   |   | 29 |   |   |   | 24,392 |   |
| Land development                       |   |                 | 17     |   |                    |   | 19,063 |   |   |   | 13 |   |   |   | 25,295 |   |
| Government guaranteed loans            |   |                 | 1      |   |                    |   | 137 |   |   |   | 2 |   |   |   | 143 |   |
| Indirect auto, auto and consumer loans |   |                 | 42     |   |                    |   | 409 |   |   |   | 97 |   |   |   | 1,078 |   |
|                                   |   |                 |   |   |                    | $      | 55,697 |   |   |   |   |   |   | $ | 72,833 |   |

|                                              |   | March 31, 2010 |    |   | December 31, 2009 |   |
|---------------------------------------------------|--------|----------------|---------|--------|-------------------|--------|
| Loans with no allocated allowance for loan losses |   | $              | 38,972  |   |              | $      | 60,629 |   |
| Loans with allocated allowance for loan losses    |   |           | 73,254  |   |              |   | 87,823 |   |
| Total                                             |   | $              | 112,226 |   |              | $      | 148,452 |   |
|                                              |   |           |    |   |              |   |   |   |
| Amount of the allowance for loan losses allocated |   | $              | 8,315   |   |              | $      | 9,040 |   |

|                                           |   | Three Months EndedMarch 31, |
|------------------------------------------------|--------|-----------------------------|
|                                           |   |                        | 2010 | 2009 |
| Anti-dilutive stock options                    |   |                        | 815,489 | 699,953 |
| Anti-dilutive unvested restricted stock awards |   |                        | 48,789 | 94,214 |
| Anti-dilutive warrants                         |   |                        | 2,380,213 | 2,380,213 |

----

|                                     |   | Well Capitalized Requirement |        |   | Adequately Capitalized Requirement |   |       | March 31,2010Actual |   |   | December 31, 2009Actual |   |
|------------------------------------------|--------|------------------------------|-------------|--------|------------------------------------|--------|------------|---------------------|--------|--------|-------------------------|--------|
| Tier 1 Capital (to Average Assets)       |   |                         |        |   |                               |   |       |                |   |   |                    |   |
| Consolidated                             |   |                         | N/A         |   |                               |   | 3 4.0 | %                   |   |   | 3.7                     | %      |   |   | 4.1 | % |
| TIB Bank                                 |   |                         | 3 5.0  | %      |                               |   | 3 4.0 | %                   |   |   | 4.7                     | %      |   |   | 4.8 | % |
|                                     |   |                         |        |   |                               |   |       |                |   |   |                    |   |   |   |   |   |
| Tier 1 Capital (to Risk Weighted Assets) |   |                         |        |   |                               |   |       |                |   |   |                    |   |   |   |   |   |
| Consolidated                             |   |                         | N/A         |   |                               |   | 3 4.0 | %                   |   |   | 5.5                     | %      |   |   | 5.7 | % |
| TIB Bank                                 |   |                         | 3 6.0  | %      |                               |   | 3 4.0 | %                   |   |   | 6.9                     | %      |   |   | 6.8 | % |
|                                     |   |                         |        |   |                               |   |       |                |   |   |                    |   |   |   |   |   |
| Total Capital (to Risk Weighted Assets)  |   |                         |        |   |                               |   |       |                |   |   |                    |   |   |   |   |   |
| Consolidated                             |   |                         | N/A         |   |                               |   | 3 8.0 | %                   |   |   | 8.1                     | %      |   |   | 8.1 | % |
| TIB Bank                                 |   |                         | 3 10.0 | %      |                               |   | 3 8.0 | %                   |   |   | 8.1                     | %      |   |   | 8.1 | % |
|                                     |   |                         |        |   |                               |   |       |                |   |   |                    |   |   |   |   |   |

----

|                                               |   |           |    |   | Fair Value Measurements at March 31, 2010 Using               |   |
|----------------------------------------------------|--------|----------------|---------|--------|---------------------------------------------------------------|--------|
|                                               |   | March 31, 2010 |    |   | Quoted Prices in Active Markets for Identical Assets(Level 1) |   |   | Significant Other Observable Inputs (Level 2) |   |   | Significant Unobservable Inputs(Level 3) |   |
| Assets:                                            |   |           |    |   |                                                          |   |   |   |   |   |   |   |
| U.S. Government agencies and corporations          |   | $              | 28,015  |   |                                                          | $      | - |   |   | $ | 28,015 |   |   | $ | - |   |
| States and political subdivisions—tax exempt |   |           | 4,601   |   |                                                          |   | - |   |   |   | 4,601 |   |   |   | - |   |
| States and political subdivisions—taxable    |   |           | 2,151   |   |                                                          |   | - |   |   |   | 2,151 |   |   |   | - |   |
| Marketable equity securities                       |   |           | 250     |   |                                                          |   | - |   |   |   | 250 |   |   |   | - |   |
| Mortgage-backed securities - residential           |   |           | 267,921 |   |                                                          |   | - |   |   |   | 267,921 |   |   |   | - |   |
| Corporate bonds                                    |   |           | 1,991   |   |                                                          |   | - |   |   |   | 1,991 |   |   |   | - |   |
| Collateralized debt obligations                    |   |           | 769     |   |                                                          |   | - |   |   |   | - |   |   |   | 769 |   |
| Available for sale securities                      |   | $              | 305,698 |   |                                                          | $      | - |   |   | $ | 304,929 |   |   | $ | 769 |   |
|                                               |   |           |    |   |                                                          |   |   |   |   |   |   |   |   |   |   |   |

----

|                                               |   |              |    |   | Fair Value Measurements at December 31, 2009 Using            |   |
|----------------------------------------------------|--------|-------------------|---------|--------|---------------------------------------------------------------|--------|
|                                               |   | December 31, 2009 |    |   | Quoted Prices in Active Markets for Identical Assets(Level 1) |   |   | Significant Other Observable Inputs (Level 2) |   |   | Significant Unobservable Inputs(Level 3) |   |
| Assets:                                            |   |              |    |   |                                                          |   |   |   |   |   |   |   |
| U.S. Government agencies and corporations          |   | $                 | 29,172  |   |                                                          | $      | - |   |   | $ | 29,172 |   |   | $ | - |   |
| States and political subdivisions—tax exempt |   |              | 8,061   |   |                                                          |   | - |   |   |   | 8,061 |   |   |   | - |   |
| States and political subdivisions—taxable    |   |              | 2,212   |   |                                                          |   | - |   |   |   | 2,212 |   |   |   | - |   |
| Marketable equity securities                       |   |              | 8       |   |                                                          |   | - |   |   |   | 8 |   |   |   | - |   |
| Mortgage-backed securities - residential           |   |              | 208,115 |   |                                                          |   | - |   |   |   | 208,115 |   |   |   | - |   |
| Corporate bonds                                    |   |              | 2,012   |   |                                                          |   | - |   |   |   | 2,012 |   |   |   | - |   |
| Collateralized debt obligations                    |   |              | 759     |   |                                                          |   | - |   |   |   | - |   |   |   | 759 |   |
| Available for sale securities                      |   | $                 | 250,339 |   |                                                          | $      | - |   |   | $ | 249,580 |   |   | $ | 759 |   |

|                                                         |   | Fair Value Measurements Using Significant Unobservable Inputs (Level 3)Collateralized Debt Obligations |   |
|--------------------------------------------------------------|--------|--------------------------------------------------------------------------------------------------------|--------|
|                                                         |   | 2010                                                                                                   |   |   | 2009 |   |
| Beginning balance, January 1,                                |   | $                                                                                                      | 759    |   |   | $ | 4,275 |   |
| Included in earnings – other than temporary impairment |   |                                                                                                   | -      |   |   |   | (23 | ) |
| Included in other comprehensive income                       |   |                                                                                                   | 10     |   |   |   | (294 | ) |
| Transfer in to Level 3                                       |   |                                                                                                   | -      |   |   |   | - |   |
| Ending balance March 31,                                     |   | $                                                                                                      | 769    |   |   | $ | 3,958 |   |
|                                                         |   |                                                                                                   |   |   |   |   |   |   |

|                                                                      |   |           |   |   | Fair Value Measurements at March 31, 2010 Using               |   |
|---------------------------------------------------------------------------|--------|----------------|--------|--------|---------------------------------------------------------------|--------|
|                                                                      |   | March 31, 2010 |   |   | Quoted Prices in Active Markets for Identical Assets(Level 1) |   |   | Significant Other Observable Inputs(Level 2) |   |   | Significant Unobservable Inputs(Level 3) |   |
| Assets:                                                                   |   |           |   |   |                                                          |   |   |   |   |   |   |   |
| Impaired loans with specific allocations of the allowance for loan losses |   | $              | 34,746 |   |                                                          | $      | - |   |   | $ | - |   |   | $ | 34,746 |   |
| Other real estate owned                                                   |   |           | 41,078 |   |                                                          |   | - |   |   |   | - |   |   |   | 41,078 |   |
| Other repossessed assets                                                  |   |           | 280    |   |                                                          |   | - |   |   |   | 280 |   |   |   | - |   |
|                                                                      |   |           |   |   |                                                          |   |   |   |   |   |   |   |   |   |   |   |

|                                                                      |   |              |   |   | Fair Value Measurements at December 31, 2009 Using            |   |
|---------------------------------------------------------------------------|--------|-------------------|--------|--------|---------------------------------------------------------------|--------|
|                                                                      |   | December 31, 2009 |   |   | Quoted Prices in Active Markets for Identical Assets(Level 1) |   |   | Significant Other Observable Inputs(Level 2) |   |   | Significant Unobservable Inputs(Level 3) |   |
| Assets:                                                                   |   |              |   |   |                                                          |   |   |   |   |   |   |   |
| Impaired loans with specific allocations of the allowance for loan losses |   | $                 | 52,122 |   |                                                          | $      | - |   |   | $ | - |   |   | $ | 52,122 |   |
| Other real estate owned                                                   |   |              | 21,352 |   |                                                          |   | - |   |   |   | - |   |   |   | 21,352 |   |
| Other repossessed assets                                                  |   |              | 326    |   |                                                          |   | - |   |   |   | 326 |   |   |   | - |   |
|                                                                      |   |              |   |   |                                                          |   |   |   |   |   |   |   |   |   |   |   |

----

|                                                             |   | March 31, 2010 |      |
|------------------------------------------------------------------|--------|----------------|-----------|
|                                                             |   | Carrying Value |      |   | Estimated Fair Value |   |
| Financial assets:                                                |   |           |      |   |   |   |
| Cash and cash equivalents                                        |   | $              | 149,337   |   |   | $ | 149,337 |   |
| Investment securities available for sale                         |   |           | 305,698   |   |   |   | 305,698 |   |
| Loans, net                                                       |   |           | 1,099,786 |   |   |   | 1,064,608 |   |
| Federal Home Loan Bank and Independent Bankers’ Bank stock |   |           | 10,735    |   |   | NM |   |
| Accrued interest receivable                                      |   |           | 5,595     |   |   |   | 5,595 |   |
|                                                             |   |           |      |   |   |   |   |   |
| Financial liabilities:                                           |   |           |      |   |   |   |   |   |
| Non-contractual deposits                                         |   | $              | 668,174   |   |   | $ | 668,174 |   |
| Contractual deposits                                             |   |           | 700,816   |   |   |   | 705,531 |   |
| Federal Home Loan Bank Advances                                  |   |           | 125,000   |   |   |   | 131,723 |   |
| Short-term borrowings                                            |   |           | 69,693    |   |   |   | 69,690 |   |
| Long-term repurchase agreements                                  |   |           | 30,000    |   |   |   | 30,544 |   |
| Subordinated debentures                                          |   |           | 33,000    |   |   |   | 11,943 |   |
| Accrued interest payable                                         |   |           | 6,420     |   |   |   | 6,420 |   |
|                                                             |   |           |      |   |   |   |   |   |

|                                                                     |   | 2010   |   |   | 2009   |   |
|--------------------------------------------------------------------------|--------|--------|--------|--------|--------|--------|
| Other real estate owned                                                  |   |   |   |   |   |   |
|    January 1,                                             |   | $      | 22,147 |   |   | $      | 5,582 |   |
| Real estate acquired                                                     |   |   | 21,975 |   |   |   | 928 |   |
| Properties sold                                                          |   |   | (1,741 | )      |   |   | (108 | ) |
| Other                                                                    |   |   | (145   | )      |   |   | (75 | ) |
| March 31,                                                                |   | $      | 42,236 |   |   | $      | 6,327 |   |
|                                                                     |   |   |   |   |   |   |   |   |
| Valuation allowance                                                      |   |   |   |   |   |   |   |   |
| January 1,                                                               |   | $      | (795   | )      |   | $      | (1,259 | ) |
| Additions charged to expense                                             |   |   | (637   | )      |   |   | (111 | ) |
| Relieved due to sale of property                                         |   |   | 274    |   |   |   | 75 |   |
| March 31,                                                                |   | $      | (1,158 | )      |   | $      | (1,295 | ) |
|                                                                     |   |   |   |   |   |   |   |   |
| Expenses related to foreclosed assets during the quarter ended March 31, |   |   |   |   |   |   |   |   |
| Net loss on sales                                                        |   | $      | 125    |   |   | $      | - |   |
| Provision for unrealized losses                                          |   |   | 512    |   |   |   | 111 |   |
| Operating expenses                                                       |   |   | 463    |   |   |   | 209 |   |
|                                                                     |   | $      | 1,100  |   |   | $      | 320 |   |
|                                                                     |   |   |   |   |   |   |   |   |

----

| ·   | First and foremost, we continue to meet with potential investors in pursuit of additional capital. As recently announced, we have agreed on the terms for the placement of up to $25 million to Patriot Financial Partners, L.P. as part of the offering of up to 600,000,000 shares of our common stock in private placement of common and/or preferred shares with the intent of raising up to $200 million. It is the main focus of our Board of Directors and management team over the coming months and requires the approval of shareholders to increase the number of authorized shares of common stock and authorize the private placement of greater than 20% of the ownership of the outstanding common stock of the Company. These requests for shareholder authorization were included in our proxy statement which was filed on April 29, 2010 and are scheduled to be voted on at the annual meeting of shareholders on May 25, 2010. |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Second, to continue to operate the Company and to attempt to maintain the Bank at adequately capitalized until we complete our planned capital raise. This will most likely require us to reduce lending, potentially sell loans, and affect significant operating expense reductions and other cost cutting measures aimed at lowering expenses. Additionally we may adjust the mix of our assets to reduce the total risk weight of our assets, reduce total assets over time and potentially sell branches, deposits and loans.  During the first quarter of 2010, we were able to sell $20.1 million of indirect auto loans enabling us to reduce the amount of risk weighted assets for regulatory capital purposes. |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Third, in the event the issuance of additional capital is not possible in the near term, seek strategic alternatives including but not limited to the sale of certain assets, all or a portion of the Company, or seeking a complementary partner in a merger of equals or where the Company is acquired. |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| ·   | Non-performing loans declined from $72.8 million at December 31, 2009 to $55.7 million at March 31, 2010. Approximately $22.0 million of this decline resulted from the transfer of some of these loans to other real estate owned. |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Our credit risk exposure in the construction and development loan portfolio declined significantly as this portfolio segment declined 49% and 26% from $142.2 million and $97.4 million as of March 31, 2009 and December 31, 2009, respectively.  At March 31, 2010,  this loan segment now represents $72.2 million and approximately 6% of our outstanding loans, down from approximately 12% of loans a year ago. |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Our indirect auto loan portfolio declined $24.5 million, or 49%, during the quarter to $25.6 million, or 2% of total loans due primarily to the sale of approximately $20.1 million in loans. Considering the related impact on the allowance for loan losses, we estimate that the transaction resulted in a small net positive impact on the income statement for the quarter. |
|--------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | The net interest margin increased 18 basis points to 2.94% during the quarter in comparison to 2.76% in the fourth quarter of 2009 due primarily to a $314,000 increase in net interest income. This increase is largely attributable to a 34 basis point decrease in the cost of interest bearing deposits since December 31, 2009 as we have been successful in repricing or replacing higher priced deposits with lower cost funding. We continue to maintain a higher level of short-term investments in light of the continuing economic uncertainty, which has a negative impact on the margin. |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Brokered deposits declined $29.8 million during the first quarter to $18.4 million, from $48.2 million at December 31, 2009. Brokered deposits have declined $136.3 million since December 2008. |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Our special asset workout group was able to work with borrowers to return $764,000 in nonperforming loans to performing status, achieve the pay off or pay down of approximately $2.6 million in nonaccrual loans, foreclose or negotiate deeds in lieu of foreclosure for approximately $22.0 million of nonaccrual loans and sell approximately $1.7 million of other real estate owned during the quarter. |
|--------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | We continue to focus on relationship-based lending and generated approximately $9 million of new commercial loans and originated $25 million of residential mortgages as well as approximately $5 million in consumer and indirect loans to prime borrowers during the quarter. |
|--------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Naples Capital Advisors and TIB Bank’s trust department continued to establish new investment management and trust relationships, increasing the market value of assets under management by $65 million or 66% from March 31, 2009. Assets under management increased by $18 million, or 12% during the quarter to $164 million as of March 31, 2010. |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

----

|                                                                                                                                                                                                                                                                                                                                                                                                             |   | 2010            |      |   | 2009           |   |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-----------------|-----------|--------|----------------|--------|
|  (Dollars in thousands)                                                                                                                                                                                                                                                                                                                                                                                     |   | AverageBalances |      |   | Income/Expense |   |   | Yields/Rates |   |   | AverageBalances |   |   | Income/Expense |   |   | Yields/Rates |   |
| Interest-earning assets:                                                                                                                                                                                                                                                                                                                                                                                         |   |            |      |   |           |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Loans (1)(2)                                                                                                                                                                                                                                                                                                                                                                                                     |   | $               | 1,178,851 |   |           | $      | 16,018 |   |   |   | 5.51 | % |   | $ | 1,223,542 |   |   | $ | 17,840 |   |   |   | 5.91 | % |
| Investment securities (2)                                                                                                                                                                                                                                                                                                                                                                                        |   |            | 283,694   |   |           |   | 2,244 |   |   |   | 3.21 | % |   |   | 287,829 |   |   |   | 2,913 |   |   |   | 4.10 | % |
| Money Market Mutual Funds                                                                                                                                                                                                                                                                                                                                                                                        |   |            | -         |   |           |   | - |   |   |   | - |   |   |   | 84,409 |   |   |   | 103 |   |   |   | 0.49 | % |
| Interest-bearing deposits in other banks                                                                                                                                                                                                                                                                                                                                                                         |   |            | 120,197   |   |           |   | 74 |   |   |   | 0.25 | % |   |   | 38,393 |   |   |   | 20 |   |   |   | 0.21 | % |
| Federal Home Loan Bank stock                                                                                                                                                                                                                                                                                                                                                                                     |   |            | 10,447    |   |           |   | 3 |   |   |   | 0.12 | % |   |   | 11,728 |   |   |   | (19 | ) |   |   | (0.67 | )% |
| Federal funds sold and securities sold under agreements to resell                                                                                                                                                                                                                                                                                                                                                |   |            | 13        |   |           |   | - |   |   |   | 0.00 | % |   |   | 7,564 |   |   |   | 3 |   |   |   | 0.16 | % |
| Total interest-earning assets                                                                                                                                                                                                                                                                                                                                                                                    |   |            | 1,593,202 |   |           |   | 18,339 |   |   |   | 4.67 | % |   |   | 1,653,465 |   |   |   | 20,860 |   |   |   | 5.12 | % |
|                                                                                                                                                                                                                                                                                                                                                                                                             |   |            |      |   |           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Non-interest-earning assets:                                                                                                                                                                                                                                                                                                                                                                                     |   |            |      |   |           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Cash and due from banks                                                                                                                                                                                                                                                                                                                                                                                          |   |            | 24,627    |   |           |   |   |   |   |   |   |   |   |   | 31,270 |   |   |   |   |   |   |   |   |   |
| Premises and equipment, net                                                                                                                                                                                                                                                                                                                                                                                      |   |            | 40,807    |   |           |   |   |   |   |   |   |   |   |   | 38,205 |   |   |   |   |   |   |   |   |   |
| Allowance for loan losses                                                                                                                                                                                                                                                                                                                                                                                        |   |            | (27,486   | )      |           |   |   |   |   |   |   |   |   |   | (23,352 | ) |   |   |   |   |   |   |   |   |
| Other assets                                                                                                                                                                                                                                                                                                                                                                                                     |   |            | 69,138    |   |           |   |   |   |   |   |   |   |   |   | 70,076 |   |   |   |   |   |   |   |   |   |
| Total non-interest-earning assets                                                                                                                                                                                                                                                                                                                                                                                |   |            | 107,086   |   |           |   |   |   |   |   |   |   |   |   | 116,199 |   |   |   |   |   |   |   |   |   |
| Total assets                                                                                                                                                                                                                                                                                                                                                                                                     |   | $               | 1,700,288 |   |           |   |   |   |   |   |   |   |   | $ | 1,769,664 |   |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                             |   |            |      |   |           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest-bearing liabilities:                                                                                                                                                                                                                                                                                                                                                                                    |   |            |      |   |           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest-bearing deposits:                                                                                                                                                                                                                                                                                                                                                                                       |   |            |      |   |           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| NOW accounts                                                                                                                                                                                                                                                                                                                                                                                                     |   | $               | 210,514   |   |           | $      | 192 |   |   |   | 0.37 | % |   | $ | 167,889 |   |   | $ | 329 |   |   |   | 0.79 | % |
| Money market                                                                                                                                                                                                                                                                                                                                                                                                     |   |            | 203,291   |   |           |   | 529 |   |   |   | 1.06 | % |   |   | 155,485 |   |   |   | 661 |   |   |   | 1.72 | % |
| Savings deposits                                                                                                                                                                                                                                                                                                                                                                                                 |   |            | 87,211    |   |           |   | 153 |   |   |   | 0.71 | % |   |   | 91,984 |   |   |   | 408 |   |   |   | 1.80 | % |
| Time deposits                                                                                                                                                                                                                                                                                                                                                                                                    |   |            | 689,850   |   |           |   | 4,028 |   |   |   | 2.37 | % |   |   | 746,393 |   |   |   | 6,501 |   |   |   | 3.53 | % |
| Total interest-bearing deposits                                                                                                                                                                                                                                                                                                                                                                                  |   |            | 1,190,866 |   |           |   | 4,902 |   |   |   | 1.67 | % |   |   | 1,161,751 |   |   |   | 7,899 |   |   |   | 2.76 | % |
|                                                                                                                                                                                                                                                                                                                                                                                                             |   |            |      |   |           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Other interest-bearing liabilities:                                                                                                                                                                                                                                                                                                                                                                              |   |            |      |   |           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Short-term borrowings and FHLB advances                                                                                                                                                                                                                                                                                                                                                                          |   |            | 194,095   |   |           |   | 1,237 |   |   |   | 2.58 | % |   |   | 252,160 |   |   |   | 1,430 |   |   |   | 2.30 | % |
| Long-term borrowings                                                                                                                                                                                                                                                                                                                                                                                             |   |            | 63,000    |   |           |   | 654 |   |   |   | 4.21 | % |   |   | 63,000 |   |   |   | 736 |   |   |   | 4.74 | % |
| Total interest-bearing liabilities                                                                                                                                                                                                                                                                                                                                                                               |   |            | 1,447,961 |   |           |   | 6,793 |   |   |   | 1.90 | % |   |   | 1,476,911 |   |   |   | 10,065 |   |   |   | 2.76 | % |
|                                                                                                                                                                                                                                                                                                                                                                                                             |   |            |      |   |           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Non-interest-bearing liabilities and shareholders’ equity:                                                                                                                                                                                                                                                                                                                                                 |   |            |      |   |           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Demand deposits                                                                                                                                                                                                                                                                                                                                                                                                  |   |            | 185,156   |   |           |   |   |   |   |   |   |   |   |   | 155,839 |   |   |   |   |   |   |   |   |   |
| Other liabilities                                                                                                                                                                                                                                                                                                                                                                                                |   |            | 11,565    |   |           |   |   |   |   |   |   |   |   |   | 15,597 |   |   |   |   |   |   |   |   |   |
| Shareholders’ equity                                                                                                                                                                                                                                                                                                                                                                                       |   |            | 55,606    |   |           |   |   |   |   |   |   |   |   |   | 121,317 |   |   |   |   |   |   |   |   |   |
| Total non-interest-bearing liabilities and shareholders’ equity                                                                                                                                                                                                                                                                                                                                            |   |            | 252,327   |   |           |   |   |   |   |   |   |   |   |   | 292,753 |   |   |   |   |   |   |   |   |   |
| Total liabilities and shareholders’ equity                                                                                                                                                                                                                                                                                                                                                                 |   | $               | 1,700,288 |   |           |   |   |   |   |   |   |   |   | $ | 1,769,664 |   |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                             |   |            |      |   |           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest rate spread  (tax equivalent basis)                                                                                                                                                                                                                                                                                                                                                           |   |            |      |   |           |   |   |   |   |   | 2.77 | % |   |   |   |   |   |   |   |   |   |   | 2.36 | % |
| Net interest income  (tax equivalent basis)                                                                                                                                                                                                                                                                                                                                                            |   |            |      |   |           | $      | 11,546 |   |   |   |   |   |   |   |   |   |   | $ | 10,795 |   |   |   |   |   |
| Net interest margin (3) (tax equivalent basis)                                                                                                                                                                                                                                                                                                                                                                   |   |            |      |   |           |   |   |   |   |   | 2.94 | % |   |   |   |   |   |   |   |   |   |   | 2.65 | % |
|                                                                                                                                                                                                                                                                                                                                                                                                             |   |            |      |   |           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| _______(1) Average loans include non-performing loans.(2) Interest income and rates include the effects of a tax equivalent adjustment using applicable statutory tax rates in adjusting tax exempt interest on tax    exempt investment securities and loans to a fully taxable basis.(3) Net interest margin is net interest income divided by average total interest-earning assets. |   |

----

|                                                                                                                                                                                                                  |   | 2010 Compared to 2009 (1)Due to Changes in |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------------------------------|--------|
| (Dollars in thousands)                                                                                                                                                                                                |   | AverageVolume                              |   |   | AverageRate |   |   | Net Increase(Decrease) |   |
| Interest income                                                                                                                                                                                                       |   |                                       |   |   |   |   |   |   |   |
| Loans (2)                                                                                                                                                                                                             |   | $                                          | (636   | ) |   | $ | (1,186 | ) |   | $ | (1,822 | ) |
| Investment securities (2)                                                                                                                                                                                             |   |                                       | (41    | ) |   |   | (628 | ) |   |   | (669 | ) |
| Money Market Mutual Funds                                                                                                                                                                                             |   |                                       | (103   | ) |   |   | - |   |   |   | (103 | ) |
| Interest-bearing deposits in other banks                                                                                                                                                                              |   |                                       | 50     |   |   |   | 4 |   |   |   | 54 |   |
| Federal Home Loan Bank stock                                                                                                                                                                                          |   |                                       | 2      |   |   |   | 20 |   |   |   | 22 |   |
| Federal funds sold and securities purchased under agreements to resell                                                                                                                                                |   |                                       | (3     | ) |   |   | - |   |   |   | (3 | ) |
| Total interest income                                                                                                                                                                                                 |   |                                       | (731   | ) |   |   | (1,790 | ) |   |   | (2,521 | ) |
|                                                                                                                                                                                                                  |   |                                       |   |   |   |   |   |   |   |   |   |   |
| Interest expense                                                                                                                                                                                                      |   |                                       |   |   |   |   |   |   |   |   |   |   |
| NOW accounts                                                                                                                                                                                                          |   |                                       | 69     |   |   |   | (206 | ) |   |   | (137 | ) |
| Money market                                                                                                                                                                                                          |   |                                       | 168    |   |   |   | (300 | ) |   |   | (132 | ) |
| Savings deposits                                                                                                                                                                                                      |   |                                       | (20    | ) |   |   | (235 | ) |   |   | (255 | ) |
| Time deposits                                                                                                                                                                                                         |   |                                       | (462   | ) |   |   | (2,011 | ) |   |   | (2,473 | ) |
| Short-term borrowings and FHLB advances                                                                                                                                                                               |   |                                       | (356   | ) |   |   | 163 |   |   |   | (193 | ) |
| Long-term borrowings                                                                                                                                                                                                  |   |                                       | -      |   |   |   | (82 | ) |   |   | (82 | ) |
| Total interest expense                                                                                                                                                                                                |   |                                       | (601   | ) |   |   | (2,671 | ) |   |   | (3,272 | ) |
|                                                                                                                                                                                                                  |   |                                       |   |   |   |   |   |   |   |   |   |   |
| Change in net interest income                                                                                                                                                                                         |   | $                                          | (130   | ) |   | $ | 881 |   |   | $ | 751 |   |
|                                                                                                                                                                                                                  |   |                                       |   |   |   |   |   |   |   |   |   |   |
| ________(1) The change in interest due to both rate and volume has been allocated to the volume and rate components in proportion to the relationship of the dollar amounts of the absolute change in each.           |   |
| (2) Interest income includes the effects of a tax equivalent adjustment using applicable statutory tax rates in adjusting tax exempt interest on tax exempt investment securities and loans to a fully taxable basis. |   |

----

| (Dollars in thousands)                         |   | 2010   |   |   | 2009   |   |
|------------------------------------------------|--------|--------|--------|--------|--------|--------|
| Service charges on deposit accounts            |   | $      | 915    |   |   | $      | 966 |   |
| Investment securities gains, net               |   |   | 1,642  |   |   |   | 596 |   |
| Fees on mortgage loans sold                    |   |   | 283    |   |   |   | 115 |   |
| Investment advisory fees                       |   |   | 307    |   |   |   | 193 |   |
| Loss on sale of indirect loans                 |   |   | (346   | )      |   |   | - |   |
| Debit card income                              |   |   | 344    |   |   |   | 184 |   |
| Earnings on bank owned life insurance policies |   |   | 100    |   |   |   | 130 |   |
| Other                                          |   |   | 169    |   |   |   | 195 |   |
| Total non-interest income                      |   | $      | 3,414  |   |   | $      | 2,379 |   |
|                                           |   |   |   |   |   |   |   |   |

|                                           |   |   |   |   | 2010                |   |   |                |   |   |   |   |   | 2009                |   |   |                |   |
|------------------------------------------------|--------|--------|--------|--------|---------------------|--------|--------|---------------------|--------|--------|--------|--------|--------|---------------------|--------|--------|---------------------|--------|
| (Dollars in thousands)                         |   | Total  |   |   | RiversideOperations |   |   | Excluding Riverside |   |   | Total  |   |   | RiversideOperations |   |   | Excluding Riverside |   |
| Salary and employee benefits                   |   | $      | 6,836  |   |                | $      | 474    |                |   | $      | 6,362  |   |   | $                   | 7,380  |   |                | $      | 315 |   |   | $ | 7,065 |   |
| Net occupancy expense                          |   |   | 2,284  |   |                |   | 367    |                |   |   | 1,917  |   |   |                | 2,152  |   |                |   | 213 |   |   |   | 1,939 |   |
| Legal, and other professional                  |   |   | 863    |   |                |   | 3      |                |   |   | 860    |   |   |                | 448    |   |                |   | 6 |   |   |   | 442 |   |
| Computer services                              |   |   | 722    |   |                |   | 178    |                |   |   | 544    |   |   |                | 625    |   |                |   | 88 |   |   |   | 537 |   |
| Collection costs                               |   |   | 43     |   |                |   | -      |                |   |   | 43     |   |   |                | 104    |   |                |   | - |   |   |   | 104 |   |
| Postage, courier and armored car               |   |   | 282    |   |                |   | 28     |                |   |   | 254    |   |   |                | 251    |   |                |   | 33 |   |   |   | 218 |   |
| Marketing and community relations              |   |   | 382    |   |                |   | 53     |                |   |   | 329    |   |   |                | 279    |   |                |   | 38 |   |   |   | 241 |   |
| Operating supplies                             |   |   | 145    |   |                |   | 23     |                |   |   | 122    |   |   |                | 142    |   |                |   | 24 |   |   |   | 118 |   |
| Directors’ fees                          |   |   | 195    |   |                |   | -      |                |   |   | 195    |   |   |                | 231    |   |                |   | - |   |   |   | 231 |   |
| Travel expenses                                |   |   | 82     |   |                |   | -      |                |   |   | 82     |   |   |                | 83     |   |                |   | 1 |   |   |   | 82 |   |
| FDIC and state assessments                     |   |   | 861    |   |                |   | 164    |                |   |   | 697    |   |   |                | 571    |   |                |   | 58 |   |   |   | 513 |   |
| Amortization of intangibles                    |   |   | 389    |   |                |   | 254    |                |   |   | 135    |   |   |                | 233    |   |                |   | 98 |   |   |   | 135 |   |
| Net gains on disposition of repossessed assets |   |   | (52    | )      |                |   | -      |                |   |   | (52    | )      |   |                | (69    | )      |                |   | - |   |   |   | (69 | ) |
| OREO write downs and expenses                  |   |   | 1,100  |   |                |   | -      |                |   |   | 1,100  |   |   |                | 320    |   |                |   | - |   |   |   | 320 |   |
| Other operating expense                        |   |   | 902    |   |                |   | 13     |                |   |   | 889    |   |   |                | 617    |   |                |   | 30 |   |   |   | 587 |   |
| Total non-interest expense                     |   | $      | 15,034 |   |                | $      | 1,557  |                |   | $      | 13,477 |   |   | $                   | 13,367 |   |                | $      | 904 |   |   | $ | 12,463 |   |
|                                           |   |   |   |   |                |   |   |                |   |   |   |   |   |                |   |   |                |   |   |   |   |   |   |   |

----

----

|                             |   | March 31, 2010              |    |   | December 31, 2009      |   |
|----------------------------------|--------|-----------------------------|---------|--------|------------------------|--------|
| (Dollars in thousands)           |   | Commercial Real Estate |    |   | Percentage Composition |   |   | Commercial Real Estate |   |   | Percentage Composition |   |
| Mixed Use Commercial/Residential |   | $                           | 101,488 |   |                   |   | 15 | % |   | $ | 102,901 |   |   |   | 15 | % |
| Office Buildings                 |   |                        | 102,282 |   |                   |   | 15 | % |   |   | 103,426 |   |   |   | 15 | % |
| Hotels/Motels                    |   |                        | 71,597  |   |                   |   | 11 | % |   |   | 78,992 |   |   |   | 12 | % |
| 1-4 Family and Multi Family      |   |                        | 67,944  |   |                   |   | 10 | % |   |   | 75,342 |   |   |   | 11 | % |
| Guesthouses                      |   |                        | 94,601  |   |                   |   | 14 | % |   |   | 94,663 |   |   |   | 14 | % |
| Retail Buildings                 |   |                        | 77,314  |   |                   |   | 12 | % |   |   | 78,852 |   |   |   | 12 | % |
| Restaurants                      |   |                        | 51,099  |   |                   |   | 8 | % |   |   | 50,395 |   |   |   | 7 | % |
| Marinas/Docks                    |   |                        | 21,077  |   |                   |   | 3 | % |   |   | 19,521 |   |   |   | 3 | % |
| Warehouse and Industrial         |   |                        | 30,481  |   |                   |   | 5 | % |   |   | 32,328 |   |   |   | 5 | % |
| Other                            |   |                        | 44,992  |   |                   |   | 7 | % |   |   | 43,989 |   |   |   | 6 | % |
| Total                            |   | $                           | 662,875 |   |                   |   | 100 | % |   | $ | 680,409 |   |   |   | 100 | % |
|                             |   |                        |    |   |                   |   |   |   |   |   |   |   |   |   |   |   |

----

|                                     |   | March 31, 2010               |   |   | December 31, 2009      |   |
|------------------------------------------|--------|------------------------------|--------|--------|------------------------|--------|
|                                     |   | Construction and Vacant Land |   |   | Percentage Composition |   |   | Construction and Vacant Land |   |   | Percentage Composition |   |
| Construction:                            |   |                         |   |   |                   |   |   |   |   |   |   |   |
| Residential – owner occupied       |   | $                            | 3,731  |   |                   |   | 5 | % |   | $ | 6,024 |   |   |   | 6 | % |
| Residential – commercial developer |   |                         | 1,669  |   |                   |   | 2 | % |   |   | 6,574 |   |   |   | 7 | % |
| Commercial structure                     |   |                         | 8,161  |   |                   |   | 12 | % |   |   | 13,127 |   |   |   | 13 | % |
|                                     |   |                         | 13,561 |   |                   |   | 19 | % |   |   | 25,725 |   |   |   | 26 | % |
| Land:                                    |   |                         |   |   |                   |   |   |   |   |   |   |   |   |   |   |   |
| Raw land                                 |   |                         | 15,773 |   |                   |   | 22 | % |   |   | 20,684 |   |   |   | 21 | % |
| Residential lots                         |   |                         | 18,413 |   |                   |   | 26 | % |   |   | 12,773 |   |   |   | 13 | % |
| Land development                         |   |                         | 9,023  |   |                   |   | 12 | % |   |   | 16,877 |   |   |   | 17 | % |
| Commercial lots                          |   |                         | 15,445 |   |                   |   | 21 | % |   |   | 21,365 |   |   |   | 23 | % |
| Total land                               |   |                         | 58,654 |   |                   |   | 81 | % |   |   | 71,699 |   |   |   | 74 | % |
|                                     |   |                         |   |   |                   |   |   |   |   |   |   |   |   |   |   |   |
| Total                                    |   | $                            | 72,215 |   |                   |   | 100 | % |   | $ | 97,424 |   |   |   | 100 | % |
|                                     |   |                         |   |   |                   |   |   |   |   |   |   |   |   |   |   |   |

| (Dollars in thousands)                                                                                                 |   | March 31, 2010 |   |   | December 31, 2009 |   |
|------------------------------------------------------------------------------------------------------------------------|--------|----------------|--------|--------|-------------------|--------|
| Total non-accrual loans                                                                                                |   | $              | 55,697 |   |              | $      | 72,833 |   |
| Accruing loans delinquent 90 days or more                                                                              |   |           | -      |   |              |   | - |   |
| Total non-performing loans                                                                                             |   |           | 55,697 |   |              |   | 72,833 |   |
|                                                                                                                   |   |           |   |   |              |   |   |   |
| Non-accrual investment securities                                                                                      |   |           | 769    |   |              |   | 759 |   |
| Repossessed personal property (primarily indirect auto loans)                                                          |   |           | 280    |   |              |   | 326 |   |
| Other real estate owned                                                                                                |   |           | 41,078 |   |              |   | 21,352 |   |
| Other assets (*)                                                                                                       |   |           | 2,093  |   |              |   | 2,090 |   |
| Total  non-performing assets                                                                                 |   | $              | 99,917 |   |              | $      | 97,360 |   |
|                                                                                                                   |   |           |   |   |              |   |   |   |
| Allowance for loan losses                                                                                              |   | $              | 27,829 |   |              | $      | 29,083 |   |
|                                                                                                                   |   |           |   |   |              |   |   |   |
| Loans in compliance with terms modified in troubled debt restructurings and not included in non-performing loans above |   | $              | 21,234 |   |              | $      | 35,906 |   |
|                                                                                                                   |   |           |   |   |              |   |   |   |
| Non-performing assets as a percent of total assets                                                                     |   |           | 5.91   | %      |              |   | 5.71 | % |
| Non-performing loans as a percent of gross loans                                                                       |   |           | 4.94   | %      |              |   | 6.08 | % |
| Allowance for loan losses as a percent of non-performing loans                                                         |   |           | 49.96  | %      |              |   | 39.93 | % |
| Annualized net charge-offs as a percent of average loans for the quarter ended                                         |   |           | 2.13   | %      |              |   | 6.40 | % |
|                                                                                                                   |   |           |   |   |              |   |   |   |

|   | (*) | In 1998, TIB Bank made a $10.0 million loan to construct a lumber mill in northern Florida. Of this amount, $6.4 million had been sold by the Bank to other lenders. The loan was 80% guaranteed as to principal and interest by the U.S. Department of Agriculture (USDA). In addition to business real estate and equipment, the loan was collateralized by the business owner’s interest in a trust. Under provisions of the trust agreement, beneficiaries cannot receive trust assets until November 2010. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| (Dollars in thousands)                 |   | March 31, 2010  |   |   | December 31, 2009 |
|----------------------------------------|--------|-----------------|--------|--------|-------------------|
| Collateral Description                 |   | Number of Loans |   |   |              |   Outstanding Balance |   |   | Number of Loans |   |   |   |   | Outstanding Balance |   |   |
| Residential  1-4 family      |   |            | 33     |   |              | $ | 9,278 |   |   |   | 36 |   |   | $ | 9,250 |   |
| Home equity loans                      |   |            | 6      |   |              |   | 1,012 |   |   |   | 8 |   |   |   | 1,488 |   |
| Commercial 1-4 family investment       |   |            | 10     |   |              |   | 5,443 |   |   |   | 19 |   |   |   | 8,733 |   |
| Commercial and agricultural            |   |            | 5      |   |              |   | 2,770 |   |   |   | 7 |   |   |   | 2,454 |   |
| Commercial real estate                 |   |            | 25     |   |              |   | 17,585 |   |   |   | 29 |   |   |   | 24,392 |   |
| Residential land development           |   |            | 17     |   |              |   | 19,063 |   |   |   | 13 |   |   |   | 25,295 |   |
| Government guaranteed loans            |   |            | 1      |   |              |   | 137 |   |   |   | 2 |   |   |   | 143 |   |
| Indirect auto, auto and consumer loans |   |            | 42     |   |              |   | 409 |   |   |   | 97 |   |   |   | 1,078 |   |
|                                   |   |            |   |   |              | $ | 55,697 |   |   |   |   |   |   | $ | 72,833 |   |

| Nonaccrual Loan Activity (Other Than Indirect Auto and Consumer) |   |
|------------------------------------------------------------------|--------|
| (Dollars in thousands)                                           |   |
|                                                             |   |   |   |
| Nonaccrual loans at December 31, 2009                            |   | $ | 71,755 |   |
| Returned to accrual                                              |   |   | (764 | ) |
| Net principal paid down on nonaccrual loans                      |   |   | (2,644 | ) |
| Charge-offs                                                      |   |   | (4,893 | ) |
| Loans  foreclosed – transferred to OREO          |   |   | (21,975 | ) |
| Loans placed on nonaccrual                                       |   |   | 13,809 |   |
| Nonaccrual loans at March 31, 2010                               |   | $ | 55,288 |   |
|                                                             |   |   |   |   |

| Significant Nonaccrual Loans (Other Than Indirect Auto and Consumer)                       |   |
|--------------------------------------------------------------------------------------------|--------|
| (Dollars in thousands)                                                                     |   |
| Collateral Description                                                                     |   | Original Loan Amount |   |   | Original Loan to Value (Based on Original Appraisal) |   |   | Current Loan Amount |   |   | Specific Allocation of Reserve in Allowance for Loan Losses at March 31, 2010 |   |   | Amount Charged Against Allowance for Loan Losses During the Quarter Ended March 31, 2010 |   |   | Impact on the Provision for Loan Losses During the Quarter Ended March 31, 2010 (1) |   |
| Arising in First Quarter 2010                                                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Commercial lots in SW Florida                                                              |   | $ | 3,840 |   |   |   | 54 | % |   | $ | 3,749 |   |   | $ | 713 |   |   | $ | - |   |   | $ | 713 |   |
| Commercial lots in SW Florida                                                              |   |   | 1,450 |   |   |   | 76 | % |   |   | 1,383 |   |   |   | 49 |   |   |   | - |   |   |   | 49 |   |
| Commercial 1-4 family residential                                                          |   |   | 1,391 |   |   |   | 73 | % |   |   | 1,228 |   |   |   | - |   |   |   | - |   |   |   | - |   |
| Commercial real estate SW Florida                                                          |   |   | 1,700 |   |   |   | 65 | % |   |   | 1,153 |   |   |   | 266 |   |   |   | - |   |   |   | 266 |   |
| Waterfront residential 1-4 family home                                                     |   |   | 1,050 |   |   |   | 32 | % |   |   | 1,023 |   |   |   | - |   |   |   | - |   |   |   | - |   |
| Office condos SW Florida                                                                   |   |   | 895 |   |   |   | 82 | % |   |   | 815 |   |   |   | 23 |   |   |   | - |   |   |   | 23 |   |
| Residential 1-4 family home                                                                |   |   | 743 |   |   |   | 71 | % |   |   | 734 |   |   |   | 89 |   |   |   | - |   |   |   | 89 |   |
| Numerous smaller balance primarily 1-4 family residential and commercial real estate loans |   |   |   |   |   |   |   |   |   |   | 2,788 |   |   |   | 262 |   |   |   | 377 |   |   |   | 322 |   |
|                                                                                       |   |   |   |   |   | Total |   |   | $ | 12,873 |   |   | $ | 1,402 |   |   | $ | 377 |   |   | $ | 1,462 |   |
|                                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Nonaccrual Prior to First Quarter 2010 Remaining on Nonaccrual at March 31, 2010           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Commercial 1-4 family residential                                                          |   | $ | 1,640 |   |   |   | 75 | % |   | $ | 1,337 |   |   | $ | 102 |   |   | $ | 20 |   |   | $ | (10 | ) |
| Commercial real estate, business assets and accounts receivable                            |   |   | 3,392 |   |   |   | 80 | % |   |   | 3,357 |   |   |   | 2,438 |   |   |   | - |   |   |   | 1,000 |   |
| Mixed use – developer                                                                |   |   | 3,602 |   |   |   | 80 | % |   |   | 2,300 |   |   |   | 17 |   |   |   | - |   |   |   | 17 |   |
| Commercial real estate                                                                     |   |   | 1,720 |   |   |   | 78 | % |   |   | 1,676 |   |   |   | 20 |   |   |   | 34 |   |   |   | 54 |   |
| Vacant land – residential development                                                |   |   | 10,000 |   |   |   | 61 | % |   |   | 5,198 |   |   |   | 188 |   |   |   | 414 |   |   |   | 414 |   |
| Two restaurants SW Florida                                                                 |   |   | 5,099 |   |   |   | 57-70 | % |   |   | 4,914 |   |   |   | 1,312 |   |   |   | - |   |   |   | 595 |   |
| Two office buildings – developer                                                     |   |   | 4,807 |   |   |   | 75 | % |   |   | 2,222 |   |   |   | 176 |   |   |   | 41 |   |   |   | 41 |   |
| Vacant land – residential development                                                |   |   | 4,750 |   |   |   | 42 | % |   |   | 4,795 |   |   |   | - |   |   |   | - |   |   |   | - |   |
| Office Building                                                                            |   |   | 1,118 |   |   |   | 66 | % |   |   | 1,116 |   |   |   | 12 |   |   |   | - |   |   |   | (8 | ) |
| Numerous smaller balance primarily 1-4 family residential and commercial real estate loans |   |   |   |   |   |   |   |   |   |   | 15,500 |   |   |   | 953 |   |   |   | 681 |   |   |   | 117 |   |
|                                                                                       |   |   |   |   |   |   |   |   |   | $ | 42,415 |   |   | $ | 5,218 |   |   | $ | 1,190 |   |   | $ | 2,220 |   |
|                                                                                       |   |   |   |   |   | Total |   |   | $ | 55,288 |   |   | $ | 6,620 |   |   | $ | 1,567 |   |   | $ | 3,682 |   |
|                                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

----

| OREO Activity                |   |
|------------------------------|--------|
| (Dollars in thousands)       |   |
|                         |   |   |   |
| OREO as of December 31, 2009 |   | $ | 21,352 |   |
| Real estate acquired         |   |   | 21,975 |   |
| Write-down of value          |   |   | (637 | ) |
| Properties sold              |   |   | (1,741 | ) |
| Other                        |   |   | 129 |   |
| OREO as of March 31, 2010    |   | $ | 41,078 |   |
|                         |   |   |   |   |

| OREO Analysis as of March 31, 2010                              |   |
|-----------------------------------------------------------------|--------|
| (Dollars in thousands)                                          |   |
| Property Description                                            |   | Original Loan Amount |   |   | Original LTV |   |   | Carrying Value at March 31, 2010 |   |
| Acquired in First Quarter of  2010                    |   |   |   |   |   |   |   |   |   |
| Luxury boutique hotel in Southwest Florida                      |   | $ | 9,775 |   |   |   | 88 | % |   | $ | 6,755 |   |
| Bayfront land in the Florida Keys                               |   |   | 5,622 |   |   |   | 54 | % |   |   | 5,592 |   |
| Vacant land in Southwest Florida                                |   |   | 5,826 |   |   |   | 60 | % |   |   | 5,014 |   |
| Commercial 1-4 family residential Southwest Florida             |   |   | 2,138 |   |   |   | 74 | % |   |   | 1,739 |   |
| Five commercial 1-4 family residential loans Southwest Florida  |   |   | 1,933 |   |   |   | 73-80 | % |   |   | 907 |   |
| Commercial real estate (1 loan)                                 |   |   |   |   |   |   |   |   |   |   | 865 |   |
| Other land (1 lot – 1 loan)                               |   |   |   |   |   |   |   |   |   |   | 68 |   |
| Other 1-4 family residential (2 loans)                          |   |   |   |   |   |   |   |   |   |   | 701 |   |
|                                                            |   |   |   |   |   |   |   |   |   | $ | 21,641 |   |
|                                                            |   |   |   |   |   |   |   |   |   |   |   |   |
| Acquired Prior to the First Quarter                             |   |   |   |   |   |   |   |   |   |   |   |   |
| Seven undeveloped commercial lots                               |   | $ | 13,500 |   |   |   | 50 | % |   | $ | 9,422 |   |
| Five 1-4 family residential condominiums (new construction unit |   |   | 7,066 |   |   |   | 72 | % |   |   | 4,134 |   |
| Luxury 1-4 family residential in Southwest Florida              |   |   | 2,493 |   |   |   | 67 | % |   |   | 2,494 |   |
| Commercial Real Estate (3 Loans)                                |   |   |   |   |   |   |   |   |   |   | 2,003 |   |
| Other Land (3 Lots – 2 Loans)                             |   |   |   |   |   |   |   |   |   |   | 1,177 |   |
| Other 1-4 Family Residential (1 Loan)                           |   |   |   |   |   |   |   |   |   |   | 207 |   |
|                                                            |   |   |   |   |   |   |   |   |   | $ | 19,437 |   |
| Total OREO                                                      |   |   |   |   |   |   |   |   |   | $ | 41,078 |   |

----

| (Dollars in thousands)                            |   | March 31, 2010 |    |   | December 31, 2009 |   |
|---------------------------------------------------|--------|----------------|---------|--------|-------------------|--------|
| Loans with no allocated allowance for loan losses |   | $              | 38,972  |   |              | $      | 60,629 |   |
| Loans with allocated allowance for loan losses    |   |           | 73,254  |   |              |   | 87,823 |   |
| Total                                             |   | $              | 112,226 |   |              | $      | 148,452 |   |
|                                              |   |           |    |   |              |   |   |   |
| Amount of the allowance for loan losses allocated |   | $              | 8,315   |   |              | $      | 9,040 |   |
|                                              |   |           |    |   |              |   |   |   |
| Amount of nonaccrual loans classified as impaired |   | $              | 55,288  |   |              | $      | 71,755 |   |
|                                              |   |           |    |   |              |   |   |   |

|                   |   | March 31, 2010             |    |
|------------------------|--------|----------------------------|---------|
| (Dollars in thousands) |   |  Total Impaired Loans |    |   | Impaired LoansWith Allocated Allowance |   |   | Amount of Allowance Allocated |   |   | Impaired Loans With No Allocated Allowance |   |
| Commercial             |   | $                          | 6,027   |   |   | $ | 3,798 |   |   | $ | 2,036 |   |   | $ | 2,229 |   |
| Commercial Real Estate |   |                       | 88,340  |   |   |   | 56,931 |   |   |   | 4,885 |   |   |   | 31,409 |   |
| Residential            |   |                       | 15,474  |   |   |   | 10,509 |   |   |   | 1,074 |   |   |   | 4,965 |   |
| Consumer               |   |                       | 690     |   |   |   | 690 |   |   |   | 255 |   |   |   | - |   |
| HELOC                  |   |                       | 1,695   |   |   |   | 1,326 |   |   |   | 65 |   |   |   | 369 |   |
| Total                  |   | $                          | 112,226 |   |   | $ | 73,254 |   |   | $ | 8,315 |   |   | $ | 38,972 |   |

|                   |   | December 31, 2009          |    |
|------------------------|--------|----------------------------|---------|
| (Dollars in thousands) |   |  Total Impaired Loans |    |   | Impaired Loans With Allocated Allowance |   |   | Amount of Allowance Allocated |   |   | Impaired Loans With No Allocated Allowance |   |
| Commercial             |   | $                          | 6,210   |   |   | $ | 4,847 |   |   | $ | 1,455 |   |   | $ | 1,363 |   |
| Commercial Real Estate |   |                       | 123,452 |   |   |   | 70,868 |   |   |   | 5,455 |   |   |   | 52,584 |   |
| Residential            |   |                       | 16,261  |   |   |   | 10,158 |   |   |   | 1,704 |   |   |   | 6,103 |   |
| Consumer               |   |                       | 699     |   |   |   | 699 |   |   |   | 274 |   |   |   | - |   |
| HELOC                  |   |                       | 1,830   |   |   |   | 1,251 |   |   |   | 152 |   |   |   | 579 |   |
| Total                  |   | $                          | 148,452 |   |   | $ | 87,823 |   |   | $ | 9,040 |   |   | $ | 60,629 |   |

----

----

----

| (Dollars in thousands)                   |   | 3 Monthsor Less |     |   | 4 to 6Months |   |     | 7 to 12Months |   |   | 1 to 5Years |   |   | Over 5Years |     |   | Total  |   |
|------------------------------------------|--------|-----------------|----------|--------|--------------|--------|----------|---------------|--------|--------|-------------|--------|--------|-------------|----------|--------|--------|--------|
| Interest-earning assets:                 |   |            |     |   |         |   |     |          |   |   |        |   |   |        |     |   |   |   |
| Loans                                    |   | $               | 362,726  |   |         | $      | 88,802   |          |   | $      | 69,932      |   |   | $           | 468,795  |   |   | $      | 136,353 |   |   | $ | 1,126,608 |   |
| Investment securities-taxable            |   |            | 5,135    |   |         |   | -        |          |   |   | 10,048      |   |   |        | 3,011    |   |   |   | 282,653 |   |   |   | 300,847 |   |
| Investment securities-tax exempt         |   |            | -        |   |         |   | -        |          |   |   | 276         |   |   |        | 2,103    |   |   |   | 2,222 |   |   |   | 4,601 |   |
| Marketable equity securities             |   |            | 250      |   |         |   | -        |          |   |   | -           |   |   |        | -        |   |   |   | - |   |   |   | 250 |   |
| FHLB stock                               |   |            | 10,447   |   |         |   | -        |          |   |   | -           |   |   |        | -        |   |   |   | - |   |   |   | 10,447 |   |
| Interest-bearing deposits in other banks |   |            | 129,051  |   |         |   | -        |          |   |   | -           |   |   |        | -        |   |   |   | - |   |   |   | 129,051 |   |
| Total interest-earning assets            |   |            | 507,609  |   |         |   | 88,802   |          |   |   | 80,256      |   |   |        | 473,909  |   |   |   | 421,228 |   |   |   | 1,571,804 |   |
|                                     |   |            |     |   |         |   |     |          |   |   |        |   |   |        |     |   |   |   |   |   |   |   |   |   |
| Interest-bearing liabilities:            |   |            |     |   |         |   |     |          |   |   |        |   |   |        |     |   |   |   |   |   |   |   |   |   |
| NOW accounts                             |   |            | 197,058  |   |         |   | -        |          |   |   | -           |   |   |        | -        |   |   |   | - |   |   |   | 197,058 |   |
| Money market                             |   |            | 192,127  |   |         |   | -        |          |   |   | -           |   |   |        | -        |   |   |   | - |   |   |   | 192,127 |   |
| Savings deposits                         |   |            | 78,649   |   |         |   | -        |          |   |   | -           |   |   |        | -        |   |   |   | - |   |   |   | 78,649 |   |
| Time deposits                            |   |            | 104,269  |   |         |   | 107,729  |          |   |   | 373,794     |   |   |        | 114,981  |   |   |   | 43 |   |   |   | 700,816 |   |
| Subordinated debentures                  |   |            | 25,000   |   |         |   | -        |          |   |   | -           |   |   |        | -        |   |   |   | 8,000 |   |   |   | 33,000 |   |
| Other borrowings                         |   |            | 99,693   |   |         |   | -        |          |   |   | 10,000      |   |   |        | 115,000  |   |   |   | - |   |   |   | 224,693 |   |
| Total interest-bearing liabilities       |   |            | 696,796  |   |         |   | 107,729  |          |   |   | 383,794     |   |   |        | 229,981  |   |   |   | 8,043 |   |   |   | 1,426,343 |   |
|                                     |   |            |     |   |         |   |     |          |   |   |        |   |   |        |     |   |   |   |   |   |   |   |   |   |
| Interest sensitivity gap                 |   | $               | (189,187 | )      |         | $      | (18,927  | )             |   | $      | (303,538    | )      |   | $           | 243,928  |   |   | $      | 413,185 |   |   | $ | 145,461 |   |
|                                     |   |            |     |   |         |   |     |          |   |   |        |   |   |        |     |   |   |   |   |   |   |   |   |   |
| Cumulative interest sensitivity gap      |   | $               | (189,187 | )      |         | $      | (208,114 | )             |   | $      | (511,652    | )      |   | $           | (267,724 | )      |   | $      | 145,461 |   |   | $ | 145,461 |   |
|                                     |   |            |     |   |         |   |     |          |   |   |        |   |   |        |     |   |   |   |   |   |   |   |   |   |
| Cumulative sensitivity ratio             |   |            | (12.0    | %)     |         |   | (13.2    | %)            |   |   | (32.6       | %)     |   |        | (17.0    | %)     |   |   | 9.3 | % |   |   | 9.3 | % |

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|                                                | March 31, 2010                         |       |   |
|-----------------------------------------------------|----------------------------------------|------------|--------|
|                                                |     Parallel Shift | Twist      |   |   |   |
| Twelve Month Period             | +2%                                    | +300%/100% |   |   |   |
|                                                |                                   |       |   |   |   |
| Percentage change in net interest  income |  -1%                              | -2%        |   |   |   |

|   | Exhibit 31.1 | -      | Chief Executive Officer’s certification required under Section 302 of Sarbanes-Oxley Act of 2002 |
|--------|--------------|--------|--------------------------------------------------------------------------------------------------------|
|   | Exhibit 31.2 | -      | Chief Financial Officer’s certification required under Section 302 of Sarbanes-Oxley Act of 2002 |
|   | Exhibit 32.1 | -      | Chief Executive Officer’s certification required under Section 906 of Sarbanes-Oxley Act of 2002 |
|   | Exhibit 32.2 | -      | Chief Financial Officer’s certification required under Section 906 of Sarbanes-Oxley Act of 2002 |
|   |         |   |                                                                                                   |

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|                                      |   | TIB FINANCIAL CORP.                                                                                              |
|-------------------------------------------|--------|------------------------------------------------------------------------------------------------------------------|
|   Date:  May 14, 2010 |   |     /s/ Thomas J. Longe                                                                      |
|                                      |   | Thomas J. LongeVice-Chairman, Chief Executive Officer and President                                              |
|                                      |   |                                                                                                             |
|   Date:  May 14, 2010 |   |     /s/ Stephen J. Gilhooly                                                                  |
|                                      |   | Stephen J. GilhoolyExecutive Vice President, Chief Financial Officer and Treasurer(Principal Accounting Officer) |

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