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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                                                                                                                |                                 |
|                     £ Non-accelerated filer                                                                                                                                                                                                                                                                                       |                   T 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                                                                                                                                                                                                                                                                                                                                                                                                              |                                                                                                                                    | 12,349,935                           |
| Class                                                                                                                                                                                                                                                                                                                                                                                                                                      |                                                                                                                                    | Outstanding as of April 30, 2011     |

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| PART I.  FINANCIAL INFORMATION                                                                       | 3      |
|----------------------------------------------------------------------------------------------------------------|--------|
|                                                                                                           |   |
| Item 1.  Financial Statements                                                                        | 3      |
| Item 2.  Management’s Discussion and Analysis of Financial Condition and Results of Operations | 18     |
| Item 3.  Quantitative and Qualitative Disclosures About Market Risk                                  | 28     |
| Item 4.  Controls and Procedures                                                                     | 29     |
|                                                                                                           |   |
| PART II.  OTHER INFORMATION                                                                          | 29     |
|                                                                                                           |   |
| Item 1.  Legal Proceedings                                                                           | 29     |
| Item 1a. Risk Factors                                                                                          | 29     |
| Item 2.  unregistered sales of equity securities and use of proceeds                                 | 29     |
| Item 3.  defaults upon senior securities                                                             | 29     |
| Item 4.  removed and reserved                                                                        | 29     |
| Item 5.  Other Information                                                                           | 29     |
| Item 6.  Exhibits                                                                                    | 29     |

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| TIB FINANCIAL CORP.CONSOLIDATED BALANCE SHEETS                                                                                   |   |
|----------------------------------------------------------------------------------------------------------------------------------|--------|
|   (Dollars and shares in thousands, except per share data)                                                                  |   | (Unaudited) |   |   |   |   |
|                                                                                                                             |   | March 31, 2011 |   |   | December 31, 2010 |   |
|                                                                                                                             |   |   |   |   |   |   |
| Assets                                                                                                                           |   |   |   |   |   |   |
| Cash and due from banks                                                                                                          |   | $ | 124,072 |   |   | $ | 153,794 |   |
|                                                                                                                             |   |   |   |   |   |   |   |   |
| Investment securities available for sale                                                                                         |   |   | 411,755 |   |   |   | 418,092 |   |
|                                                                                                                             |   |   |   |   |   |   |   |   |
| Loans, net of deferred loan costs and fees                                                                                       |   |   | 1,030,377 |   |   |   | 1,004,630 |   |
| Less: Allowance for loan losses                                                                                                  |   |   | 877 |   |   |   | 402 |   |
| Loans, net                                                                                                                       |   |   | 1,029,500 |   |   |   | 1,004,228 |   |
|                                                                                                                             |   |   |   |   |   |   |   |   |
| Premises and equipment, net                                                                                                      |   |   | 42,831 |   |   |   | 43,153 |   |
| Goodwill                                                                                                                         |   |   | 29,999 |   |   |   | 29,999 |   |
| Intangible assets, net                                                                                                           |   |   | 11,043 |   |   |   | 11,406 |   |
| Other real estate owned                                                                                                          |   |   | 19,504 |   |   |   | 25,673 |   |
| Deferred income tax asset                                                                                                        |   |   | 19,005 |   |   |   | 19,973 |   |
| Accrued interest receivable and other assets                                                                                     |   |   | 41,633 |   |   |   | 50,548 |   |
| Total Assets                                                                                                                     |   | $ | 1,729,342 |   |   | $ | 1,756,866 |   |
|                                                                                                                             |   |   |   |   |   |   |   |   |
| Liabilities and Shareholders’ Equity                                                                                       |   |   |   |   |   |   |   |   |
| Liabilities                                                                                                                      |   |   |   |   |   |   |   |   |
| Deposits:                                                                                                                        |   |   |   |   |   |   |   |   |
| Noninterest-bearing demand                                                                                                       |   | $ | 224,614 |   |   | $ | 198,092 |   |
| Interest-bearing                                                                                                                 |   |   | 1,115,600 |   |   |   | 1,168,933 |   |
| Total deposits                                                                                                                   |   |   | 1,340,214 |   |   |   | 1,367,025 |   |
|                                                                                                                             |   |   |   |   |   |   |   |   |
| Federal Home Loan Bank (FHLB) advances                                                                                           |   |   | 120,189 |   |   |   | 131,116 |   |
| Short-term borrowings                                                                                                            |   |   | 46,892 |   |   |   | 47,158 |   |
| Long-term borrowings                                                                                                             |   |   | 22,958 |   |   |   | 22,887 |   |
| Accrued interest payable and other liabilities                                                                                   |   |   | 12,108 |   |   |   | 11,930 |   |
| Total liabilities                                                                                                                |   |   | 1,542,361 |   |   |   | 1,580,116 |   |
|                                                                                                                             |   |   |   |   |   |   |   |   |
| Shareholders’ equity                                                                                                       |   |   |   |   |   |   |   |   |
| Common stock - $.10 par value per share: 50,000 shares authorized, 12,350 and 11,817 shares issued and outstanding, respectively |   |   | 1,235 |   |   |   | 1,182 |   |
| Additional paid in capital                                                                                                       |   |   | 185,039 |   |   |   | 177,316 |   |
| Retained earnings                                                                                                                |   |   | 1,628 |   |   |   | 560 |   |
| Accumulated other comprehensive loss                                                                                             |   |   | (921 | ) |   |   | (2,308 | ) |
| Total shareholders’ equity                                                                                                 |   |   | 186,981 |   |   |   | 176,750 |   |
|                                                                                                                             |   |   |   |   |   |   |   |   |
| Total Liabilities and Shareholders’ Equity                                                                                 |   | $ | 1,729,342 |   |   | $ | 1,756,866 |   |
|                                                                                                                             |   |   |   |   |   |   |   |   |
| See accompanying notes to consolidated financial statements                                                                      |   |

----

|                                                                        |   | Successor Company                 |   |   | Predecessor Company               |   |
|-----------------------------------------------------------------------------|--------|-----------------------------------|--------|--------|-----------------------------------|--------|
|                                                                        |   | Three Months Ended March 31, 2011 |   |   | Three Months Ended March 31, 2010 |   |
| Interest and dividend income                                                |   |                              |   |   |                              |   |
| Loans, including fees                                                       |   | $                                 | 13,398 |   |                              | $      | 15,999 |   |
| Investment securities:                                                      |   |                              |   |   |                              |   |   |   |
| Taxable                                                                     |   |                              | 2,336  |   |                              |   | 2,144 |   |
| Tax-exempt                                                                  |   |                              | 15     |   |                              |   | 67 |   |
| Interest-bearing deposits in other banks                                    |   |                              | 70     |   |                              |   | 74 |   |
| Federal Home Loan Bank stock                                                |   |                              | 25     |   |                              |   | 3 |   |
| Total interest and dividend income                                          |   |                              | 15,844 |   |                              |   | 18,287 |   |
|                                                                        |   |                              |   |   |                              |   |   |   |
| Interest expense                                                            |   |                              |   |   |                              |   |   |   |
| Deposits                                                                    |   |                              | 2,454  |   |                              |   | 4,902 |   |
| Federal Home Loan Bank advances                                             |   |                              | 237    |   |                              |   | 1,214 |   |
| Short-term borrowings                                                       |   |                              | 15     |   |                              |   | 23 |   |
| Long-term borrowings                                                        |   |                              | 456    |   |                              |   | 654 |   |
| Total interest expense                                                      |   |                              | 3,162  |   |                              |   | 6,793 |   |
|                                                                        |   |                              |   |   |                              |   |   |   |
| Net interest income                                                         |   |                              | 12,682 |   |                              |   | 11,494 |   |
|                                                                        |   |                              |   |   |                              |   |   |   |
| Provision for loan losses                                                   |   |                              | 485    |   |                              |   | 4,925 |   |
| Net interest income after provision for loan losses                         |   |                              | 12,197 |   |                              |   | 6,569 |   |
|                                                                        |   |                              |   |   |                              |   |   |   |
| Non-interest income                                                         |   |                              |   |   |                              |   |   |   |
| Service charges on deposit accounts                                         |   |                              | 813    |   |                              |   | 915 |   |
| Fees on mortgage loans originated and sold                                  |   |                              | 354    |   |                              |   | 283 |   |
| Investment advisory and trust fees                                          |   |                              | 387    |   |                              |   | 307 |   |
| Loss on sale of indirect auto loans                                         |   |                              | -      |   |                              |   | (346 | ) |
| Other income                                                                |   |                              | 1,205  |   |                              |   | 613 |   |
| Investment securities gains (losses), net                                   |   |                              | 12     |   |                              |   | 1,642 |   |
| Other-than-temporary impairment losses on investments                       |   |                              |   |   |                              |   |   |   |
| Gross impairment losses                                                     |   |                              | -      |   |                              |   | - |   |
| Less: Impairments recognized in other comprehensive income                  |   |                              | -      |   |                              |   | - |   |
| Net impairment losses recognized in earnings                                |   |                              | -      |   |                              |   | - |   |
| Total non-interest income                                                   |   |                              | 2,771  |   |                              |   | 3,414 |   |
|                                                                        |   |                              |   |   |                              |   |   |   |
| Non-interest expense                                                        |   |                              |   |   |                              |   |   |   |
| Salaries and employee benefits                                              |   |                              | 6,501  |   |                              |   | 6,836 |   |
| Net occupancy and equipment expense                                         |   |                              | 2,048  |   |                              |   | 2,284 |   |
| Foreclosed asset related expense                                            |   |                              | 522    |   |                              |   | 1,100 |   |
| Other expense                                                               |   |                              | 4,254  |   |                              |   | 4,814 |   |
| Total non-interest expense                                                  |   |                              | 13,325 |   |                              |   | 15,034 |   |
|                                                                        |   |                              |   |   |                              |   |   |   |
| Income (loss) before income taxes                                           |   |                              | 1,643  |   |                              |   | (5,051 | ) |
|                                                                        |   |                              |   |   |                              |   |   |   |
| Income tax expense                                                          |   |                              | 575    |   |                              |   | - |   |
|                                                                        |   |                              |   |   |                              |   |   |   |
| Net income (loss)                                                           |   | $                                 | 1,068  |   |                              | $      | (5,051 | ) |
| Preferred dividends earned by preferred shareholders and discount accretion |   |                              | -      |   |                              |   | 660 |   |
| Net loss allocated to common shareholders                                   |   | $                                 | 1,068  |   |                              | $      | (5,711 | ) |
|                                                                        |   |                              |   |   |                              |   |   |   |
| Basic income (loss) per common share                                        |   | $                                 | 0.09   |   |                              | $      | (38.36 | ) |
|                                                                        |   |                              |   |   |                              |   |   |   |
| Diluted income (loss) per common share                                      |   | $                                 | 0.07   |   |                              | $      | (38.36 | ) |
|                                                                        |   |                              |   |   |                              |   |   |   |

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| Successor Company                                                |   | Common Shares |   |   | Common Stock |   |   | Additional Paid in Capital |   |   | Retained Earnings |   |   | Accumulated Other Comprehensive (Loss) |   |   | Total Shareholders’ Equity |   |
|------------------------------------------------------------------|--------|---------------|--------|--------|--------------|--------|--------|----------------------------|--------|--------|-------------------|--------|--------|---------------------------------------------|--------|--------|----------------------------------|--------|
| Balance, January 1, 2011                                         |   |          | 11,817 |   |         | $      | 1,182  |                       |   | $      | 177,316           |   |   | $                                           | 560    |   |                             | $      | (2,308 | ) |   | $ | 176,750 |   |
| Comprehensive income:                                            |   |          |   |   |         |   |   |                       |   |   |              |   |   |                                        |   |   |                             |   |   |   |   |   |   |   |
| Net income                                                       |   |          |   |   |         |   |   |                       |   |   |              |   |   |                                        | 1,068  |   |                             |   |   |   |   |   | 1,068 |   |
| Net market valuation adjustment on securities available for sale |   |          |   |   |         |   |   |                       |   |   |              |   |   |                                        |   |   |                             |   | 1,399 |   |   |   |   |   |
| Less: reclassification adjustment for gains                      |   |          |   |   |         |   |   |                       |   |   |              |   |   |                                        |   |   |                             |   | (12 | ) |   |   |   |   |
| Other comprehensive income, net of tax expense of $837           |   |          |   |   |         |   |   |                       |   |   |              |   |   |                                        |   |   |                             |   |   |   |   |   | 1,387 |   |
| Comprehensive income                                             |   |          |   |   |         |   |   |                       |   |   |              |   |   |                                        |   |   |                             |   |   |   |   |   | 2,455 |   |
| Common stock issued in Rights Offering                           |   |          | 533    |   |         |   | 53     |                       |   |   | 7,723             |   |   |                                        |   |   |                             |   |   |   |   |   | 7,776 |   |
| Balance, March 31, 2011                                          |   |          | 12,350 |   |         | $      | 1,235  |                       |   | $      | 185,039           |   |   | $                                           | 1,628  |   |                             | $      | (921 | ) |   | $ | 186,981 |   |
|                                                             |   |          |   |   |         |   |   |                       |   |   |              |   |   |                                        |   |   |                             |   |   |   |   |   |   |   |

| Predecessor Company                                              |   |  PreferredShares |   |   |  PreferredStock |   | Common Shares |   | Common Stock |   | Additional Paid in Capital |   | Retained Earnings (Accumulated Deficit) |   | Accumulated Other Comprehensive (Loss) |   | TreasuryStock |   | Total Shareholders’ Equity |   |
|------------------------------------------------------------------|--------|-----------------------|--------|--------|----------------------|--------|---------------|--------|--------------|--------|----------------------------|--------|-----------------------------------------|--------|----------------------------------------|--------|---------------|--------|----------------------------------|--------|
| Balance, January 1, 2010                                         |   |                  | 37     |   |                 | $      | 33,730        |   |         | 149    |                       | $      | 15                                      |   | $                                      | 76,154 |          | $      | (49,994                          | )      | $ | (3,818 | ) | $ | (569 | ) | $ | 55,518 |   |
| Comprehensive loss:                                              |   |                  |   |   |                 |   |          |   |         |   |                       |   |                                    |   |                                   |   |          |   |                             |   |   |   |   |   |   |   |   |   |   |
| Net loss                                                         |   |                  |   |   |                 |   |          |   |         |   |                       |   |                                    |   |                                   |   |          |   | (5,051                           | )      |   |   |   |   |   |   |   | (5,051 | ) |
| Net market valuation adjustment on securities available for sale |   |                  |   |   |                 |   |          |   |         |   |                       |   |                                    |   |                                   |   |          |   |                             |   |   | 1,811 |   |   |   |   |   |   |   |
| Less: reclassification adjustment for gains                      |   |                  |   |   |                 |   |          |   |         |   |                       |   |                                    |   |                                   |   |          |   |                             |   |   | (1,642 | ) |   |   |   |   |   |   |
| Other comprehensive income, net of tax expense of $321           |   |                  |   |   |                 |   |          |   |         |   |                       |   |                                    |   |                                   |   |          |   |                             |   |   |   |   |   |   |   |   | 169 |   |
| Comprehensive loss                                               |   |                  |   |   |                 |   |          |   |         |   |                       |   |                                    |   |                                   |   |          |   |                             |   |   |   |   |   |   |   |   | (4,882 | ) |
| Preferred stock discount accretion                               |   |                  |   |   |                 |   | 189           |   |         |   |                       |   |                                    |   |                                   |   |          |   | (189                             | )      |   |   |   |   |   |   |   | - |   |
| Stock-based compensation and related tax effect                  |   |                  |   |   |                 |   |          |   |         |   |                       |   |                                    |   |                                   | 150    |          |   |                             |   |   |   |   |   |   |   |   | 150 |   |
| Balance, March 31, 2010                                          |   |                  | 37     |   |                 | $      | 33,919        |   |         | 149    |                       | $      | 15                                      |   | $                                      | 76,304 |          | $      | (55,234                          | )      | $ | (3,649 | ) | $ | (569 | ) | $ | 50,786 |   |
|                                                             |   |                  |   |   |                 |   |          |   |         |   |                       |   |                                    |   |                                   |   |          |   |                             |   |   |   |   |   |   |   |   |   |   |

----

| TIB FINANCIAL CORP.CONSOLIDATED STATEMENTS OF CASH FLOWSINCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS(Unaudited)(Dollars in thousands) |   |
|-------------------------------------------------------------------------------------------------------------------------------------------|--------|
|                                                                                                                                      |   | Successor Company |   |   | Predecessor Company |   |
|                                                                                                                                      |   | Three Months Ended March 31, 2011 |   |   | Three Months Ended March 31, 2010 |   |
| Cash flows from operating activities:                                                                                                     |   |   |   |   |   |   |
| Net income (loss)                                                                                                                         |   | $ | 1,068 |   |   | $ | (5,051 | ) |
| Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities:                                        |   |   |   |   |   |   |   |   |
| Accretion of acquired loans                                                                                                               |   |   | (12,541 | ) |   |   | - |   |
| Depreciation and amortization                                                                                                             |   |   | 190 |   |   |   | 1,123 |   |
| Provision for loan losses                                                                                                                 |   |   | 485 |   |   |   | 4,925 |   |
| Deferred income tax expense                                                                                                               |   |   | 575 |   |   |   | - |   |
| Investment securities net realized gains                                                                                                  |   |   | (12 | ) |   |   | (1,642 | ) |
| Net amortization of investment premium/discount                                                                                           |   |   | 1,579 |   |   |   | 761 |   |
| Stock-based compensation                                                                                                                  |   |   | - |   |   |   | 150 |   |
| (Gain)/Loss on sales of OREO                                                                                                              |   |   | - |   |   |   | 125 |   |
| OREO valuation adjustments                                                                                                                |   |   | - |   |   |   | 512 |   |
| Loss on the sale of indirect auto loans                                                                                                   |   |   | - |   |   |   | 346 |   |
| Other                                                                                                                                     |   |   | (610 | ) |   |   | 328 |   |
| Mortgage loans originated for sale                                                                                                        |   |   | (11,936 | ) |   |   | (16,304 | ) |
| Proceeds from sales of mortgage loans originated for sale                                                                                 |   |   | 18,739 |   |   |   | 17,710 |   |
| Fees on mortgage loans sold                                                                                                               |   |   | (354 | ) |   |   | (283 | ) |
| Change in accrued interest receivable and other assets                                                                                    |   |   | 2,019 |   |   |   | 1,819 |   |
| Change in accrued interest payable and other liabilities                                                                                  |   |   | 187 |   |   |   | 1,405 |   |
| Net cash (used in) provided by operating activities                                                                                       |   |   | (611 | ) |   |   | 5,924 |   |
|                                                                                                                                      |   |   |   |   |   |   |   |   |
| Cash flows from investing activities:                                                                                                     |   |   |   |   |   |   |   |   |
| Purchases of investment securities available for sale                                                                                     |   |   | (15,474 | ) |   |   | (158,600 | ) |
| Sales of investment securities available for sale                                                                                         |   |   | 2,319 |   |   |   | 69,956 |   |
| Repayments of principal and maturities of investment securities available for sale                                                        |   |   | 20,149 |   |   |   | 34,335 |   |
| Principal repayments on loans, net of loans originated or acquired                                                                        |   |   | (13,894 | ) |   |   | 20,487 |   |
| Purchases of premises and equipment                                                                                                       |   |   | (369 | ) |   |   | (518 | ) |
| Proceeds from sales of loans                                                                                                              |   |   | - |   |   |   | 20,569 |   |
| Proceeds from sale of OREO                                                                                                                |   |   | 7,459 |   |   |   | 1,229 |   |
| Net cash provided by (used  in) investing activities                                                                            |   |   | 190 |   |   |   | (12,542 | ) |
|                                                                                                                                      |   |   |   |   |   |   |   |   |
| Cash flows from financing activities:                                                                                                     |   |   |   |   |   |   |   |   |
| Net increase (decrease) in demand, money market and savings accounts                                                                      |   |   | 82,975 |   |   |   | (36,701 | ) |
| Net increase (decrease) in time deposits                                                                                                  |   |   | (109,563 | ) |   |   | 65,799 |   |
| Net change in brokered time deposits                                                                                                      |   |   | (223 | ) |   |   | (29,763 | ) |
| Net decrease in federal funds purchased and securities sold under agreements to repurchase                                                |   |   | (266 | ) |   |   | (10,782 | ) |
| Repayment of long term FHLB advances                                                                                                      |   |   | (10,000 | ) |   |   | - |   |
| Net proceeds from common stock rights offering                                                                                            |   |   | 7,776 |   |   |   | - |   |
| Net cash (used in) financing activities                                                                                                   |   |   | (29,301 | ) |   |   | (11,447 | ) |
|                                                                                                                                      |   |   |   |   |   |   |   |   |
| Net decrease in cash and cash equivalents                                                                                                 |   |   | (29,722 | ) |   |   | (18,065 | ) |
| Cash and cash equivalents at beginning of period                                                                                          |   |   | 153,794 |   |   |   | 167,402 |   |
| Cash and cash equivalents at end of period                                                                                                |   | $ | 124,072 |   |   | $ | 149,337 |   |
|                                                                                                                                      |   |   |   |   |   |   |   |   |
| Supplemental disclosures of cash paid:                                                                                                    |   |   |   |   |   |   |   |   |
| Interest                                                                                                                                  |   | $ | 3,897 |   |   | $ | 5,830 |   |
| Supplemental information:                                                                                                                 |   |   |   |   |   |   |   |   |
| Transfer of loans to OREO                                                                                                                 |   |   | 1,290 |   |   |   | 21,975 |   |
| See accompanying notes to consolidated financial statements                                                                               |   |

----

----

| •   | Commercial mortgage – owner occupied, office building, hotel or motel, guest houses, retail, multi-family, farmland, and other; |
|---------------------|---------------------------------------------------------------------------------------------------------------------------------------|

| •   | Residential mortgage – primary residence, second residence and investment; |
|---------------------|----------------------------------------------------------------------------------|

| •   | Construction and vacant land; |
|---------------------|-------------------------------|

| •   | Commercial and agricultural |
|---------------------|-----------------------------|

| •   | Indirect auto – prime and sub-prime; |
|---------------------|--------------------------------------------|

| •   | Home equity ; and |
|---------------------|-------------------|

| •   | Consumer |
|---------------------|----------|

| •   | Commercial and agricultural—industry specific economic trends and individual borrower financial condition |
|---------------------|-----------------------------------------------------------------------------------------------------------------|

| •   | Construction and vacant land, farmland and commercial mortgage loans—type of property (i.e., residential, commercial, industrial) and geographic concentrations and risks and individual borrower financial condition |
|---------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| •   | Residential mortgage, indirect auto and consumer—historical charge-offs and current trends in borrower's credit, property collateral, and loan characteristics |
|---------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|                                                  |   | Successor Company                 |   |   | Predecessor Company               |   |
|-------------------------------------------------------|--------|-----------------------------------|--------|--------|-----------------------------------|--------|
|                                                  |   | Three Months Ended March 31, 2011 |   |   | Three Months Ended March 31, 2010 |   |
| Weighted average number of common shares outstanding: |   |                              |   |   |                              |   |
| Basic                                                 |   |                              | 12,243 |   |                              |   | 148 |   |
| Dilutive effect of options outstanding                |   |                              | -      |   |                              |   | - |   |
| Dilutive effect of restricted shares                  |   |                              | -      |   |                              |   | - |   |
| Dilutive effect of warrants outstanding               |   |                              | 2,720  |   |                              |   | - |   |
| Diluted                                               |   |                              | 14,963 |   |                              |   | 148 |   |

|                                  |   | Successor Company                 |   |   | Predecessor Company               |   |
|---------------------------------------|--------|-----------------------------------|--------|--------|-----------------------------------|--------|
|                                  |   | Three Months Ended March 31, 2011 |   |   | Three Months Ended March 31, 2010 |   |
| Anti-dilutive stock options           |   |                              | 7      |   |                              |   | 8 |   |
| Anti-dilutive restricted stock awards |   |                              | -      |   |                              |   | - |   |
| Anti-dilutive warrants                |   |                              | 13     |   |                              |   | 24 |   |

----

|                                               |   | March 31, 2011 |    |
|----------------------------------------------------|--------|----------------|---------|
|                                               |   | Amortized Cost |    |   | Unrealized Gains |   |   | Unrealized Losses |   |   | Estimated Fair Value |   |
| U.S. Government agencies and corporations          |   | $              | 40,638  |   |   | $ | 9 |   |   | $ | 318 |   |   | $ | 40,329 |   |
| States and political subdivisions—tax exempt |   |           | 2,794   |   |   |   | 2 |   |   |   | 14 |   |   |   | 2,782 |   |
| Marketable equity securities                       |   |           | 102     |   |   |   | 37 |   |   |   | - |   |   |   | 139 |   |
| Mortgage-backed securities—residential       |   |           | 366,781 |   |   |   | 1,141 |   |   |   | 2,495 |   |   |   | 365,427 |   |
| Corporate bonds                                    |   |           | 2,113   |   |   |   | 174 |   |   |   | - |   |   |   | 2,287 |   |
| Collateralized debt obligation                     |   |           | 803     |   |   |   | - |   |   |   | 12 |   |   |   | 791 |   |
|                                               |   | $              | 413,231 |   |   | $ | 1,363 |   |   | $ | 2,839 |   |   | $ | 411,755 |   |

|                                               |   | December 31, 2010 |    |
|----------------------------------------------------|--------|-------------------|---------|
|                                               |   | Amortized Cost    |    |   | Unrealized Gains |   |   | Unrealized Losses |   |   | Estimated Fair Value |   |
| U.S. Government agencies and corporations          |   | $                 | 40,980  |   |   | $ | 15 |   |   | $ | 296 |   |   | $ | 40,699 |   |
| States and political subdivisions—tax exempt |   |              | 3,082   |   |   |   | 2 |   |   |   | 25 |   |   |   | 3,059 |   |
| States and political subdivisions—taxable    |   |              | 2,308   |   |   |   | - |   |   |   | 151 |   |   |   | 2,157 |   |
| Marketable equity securities                       |   |              | 102     |   |   |   | - |   |   |   | 28 |   |   |   | 74 |   |
| Mortgage-backed securities—residential       |   |              | 372,409 |   |   |   | 946 |   |   |   | 4,152 |   |   |   | 369,203 |   |
| Corporate bonds                                    |   |              | 2,104   |   |   |   | 1 |   |   |   | - |   |   |   | 2,105 |   |
| Collateralized debt obligation                     |   |              | 807     |   |   |   | - |   |   |   | 12 |   |   |   | 795 |   |
|                                               |   | $                 | 421,792 |   |   | $ | 964 |   |   | $ | 4,664 |   |   | $ | 418,092 |   |

----

|                                     |   | March 31, 2011 |    |
|------------------------------------------|--------|----------------|---------|
| Due in one year or less                  |   | $              | 276     |   |
| Due after one year through five years    |   |           | 18,132  |   |
| Due after five years through ten years   |   |           | 17,753  |   |
| Due after ten years                      |   |           | 10,028  |   |
| Marketable equity securities             |   |           | 139     |   |
| Mortgage-backed securities - residential |   |           | 365,427 |   |
|                                     |   | $              | 411,755 |   |
|                                     |   |           |    |   |

|                                               |   | Less than 12 Months  |    |   | 12 Months or Longer |   |   | Total                |   |
|----------------------------------------------------|--------|----------------------|---------|--------|---------------------|--------|--------|----------------------|--------|
| March 31, 2011                                     |   | Estimated Fair Value |    |   | Unrealized Losses   |   |   | Estimated Fair Value |   |   | Unrealized Losses |   |   | Estimated Fair Value |   |   | Unrealized Losses |   |
| U.S. Government agencies and corporations          |   | $                    | 6,949   |   |                | $      | 318    |                 |   |  $ | - |   |   |  $ | - |   |   | $ | 6,949 |   |   | $ | 318 |   |
| States and political subdivisions—tax exempt |   |                 | 1,969   |   |                |   | 14     |                 |   |   |   |   |   |   | - |   |   |   | 1,969 |   |   |   | 14 |   |
| States and political subdivisions-taxable          |   |                 | -       |   |                |   | -      |                 |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |
| Marketable equity securities                       |   |                 | -       |   |                |   | -      |                 |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |
| Mortgage-backed securities - residential           |   |                 | 188,962 |   |                |   | 2,495  |                 |   |   | - |   |   |   | - |   |   |   | 188,962 |   |   |   | 2,495 |   |
| Corporate bonds                                    |   |                 | -       |   |                |   | -      |                 |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |
| Collateralized debt obligation                     |   |                 | 791     |   |                |   | 12     |                 |   |   | - |   |   |   | - |   |   |   | 791 |   |   |   | 12 |   |
| Total temporarily impaired                         |   | $                    | 198,671 |   |                | $      | 2,839  |                 |   | $ | - |   |   | $ | - |   |   | $ | 198,671 |   |   | $ | 2,839 |   |
|                                               |   |                 |    |   |                |   |   |                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

|                                               |   | Less than 12 Months  |    |   | 12 Months or Longer |   |   | Total                |   |
|----------------------------------------------------|--------|----------------------|---------|--------|---------------------|--------|--------|----------------------|--------|
| December 31, 2010                                  |   | Estimated Fair Value |    |   | Unrealized Losses   |   |   | Estimated Fair Value |   |   | Unrealized Losses |   |   | Estimated Fair Value |   |   | Unrealized Losses |   |
| U.S. Government agencies and corporations          |   | $                    | 14,304  |   |                | $      | 296    |                 |   |  $ | - |   |   |  $ | - |   |   | $ | 14,304 |   |   | $ | 296 |   |
| States and political subdivisions—tax exempt |   |                 | 2,458   |   |                |   | 25     |                 |   |   |   |   |   |   | - |   |   |   | 2,458 |   |   |   | 25 |   |
| States and political subdivisions-taxable          |   |                 | 2,157   |   |                |   | 151    |                 |   |   | - |   |   |   | - |   |   |   | 2,157 |   |   |   | 151 |   |
| Marketable equity securities                       |   |                 | 74      |   |                |   | 28     |                 |   |   | - |   |   |   | - |   |   |   | 74 |   |   |   | 28 |   |
| Mortgage-backed securities - residential           |   |                 | 213,153 |   |                |   | 4,152  |                 |   |   | - |   |   |   | - |   |   |   | 213,153 |   |   |   | 4,152 |   |
| Corporate bonds                                    |   |                 | -       |   |                |   | -      |                 |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |
| Collateralized debt obligation                     |   |                 | 795     |   |                |   | 12     |                 |   |   | - |   |   |   | - |   |   |   | 795 |   |   |   | 12 |   |
| Total temporarily impaired                         |   | $                    | 232,941 |   |                | $      | 4,664  |                 |   | $ | - |   |   | $ | - |   |   | $ | 232,941 |   |   | $ | 4,664 |   |
|                                               |   |                 |    |   |                |   |   |                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

----

|                              |   | March 31, 2011 |      |   | December 31, 2010 |   |
|-----------------------------------|--------|----------------|-----------|--------|-------------------|--------|
| Real estate mortgage loans:       |   |           |      |   |              |   |
| Commercial                        |   | $              | 616,730   |   |              | $      | 612,455 |   |
| Residential                       |   |           | 232,347   |   |              |   | 225,850 |   |
| Construction and vacant land      |   |           | 40,503    |   |              |   | 38,956 |   |
| Commercial and agricultural loans |   |           | 60,219    |   |              |   | 60,642 |   |
| Indirect auto loans               |   |           | 40,653    |   |              |   | 28,038 |   |
| Home equity loans                 |   |           | 30,541    |   |              |   | 29,658 |   |
| Other consumer loans              |   |           | 8,471     |   |              |   | 8,730 |   |
| Total loans                       |   |           | 1,029,464 |   |              |   | 1,004,329 |   |
|                              |   |           |      |   |              |   |   |   |
| Net deferred loan costs           |   |           | 913       |   |              |   | 301 |   |
| Loans, net of deferred loan costs |   | $              | 1,030,377 |   |              | $      | 1,004,630 |   |

|                                            |   | Three Months Ended March 31, 2011 |    |
|-------------------------------------------------|--------|-----------------------------------|---------|
| Balance, beginning of period                    |   | $                                 | 263,381 |   |
| New loans purchased                             |   |                              | -       |   |
| Accretion of income                             |   |                              | (12,541 | ) |
| Reclassifications from nonaccretable difference |   |                              | -       |   |
| Disposals                                       |   |                              | -       |   |
| Balance, end of period                          |   | $                                 | 250,840 |   |

| ·   | the estimate of the remaining life of PCI loans which may change the amount of future interest income, and possibly principal, expected to be collected; |
|--------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | the estimate of the amount of contractually required principal and interest payments over the estimated life that will not be collected (the nonaccretable difference); and |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | indices for PCI loans with variable rates of interest. |
|--------------------|--------------------------------------------------------|

| Non-purchased credit impaired loans  |   | 30-89 Days Past Due |   |   | Greater than 90 Days Past Due and Still Accruing/Accreting |   |   | Nonaccrual |   |   | Total  |   |
|--------------------------------------|--------|---------------------|--------|--------|------------------------------------------------------------|--------|--------|------------|--------|--------|--------|--------|
| Real estate mortgage loans:          |   |                |   |   |                                                       |   |   |       |   |   |   |   |
| Owner occupied commercial            |   | $                   | -      |   |                                                       | $      | -      |       |   | $      | -      |   |   | $ | - |   |
| Office building                      |   |                | -      |   |                                                       |   | -      |       |   |   | -      |   |   |   | - |   |
| Hotel/motel                          |   |                | -      |   |                                                       |   | -      |       |   |   | -      |   |   |   | - |   |
| Guest houses                         |   |                | -      |   |                                                       |   | -      |       |   |   | -      |   |   |   | - |   |
| Retail                               |   |                | -      |   |                                                       |   | -      |       |   |   | -      |   |   |   | - |   |
| Multi-family                         |   |                | -      |   |                                                       |   | -      |       |   |   | -      |   |   |   | - |   |
| Other commercial                     |   |                | -      |   |                                                       |   | -      |       |   |   | -      |   |   |   | - |   |
| Primary residential                  |   |                | -      |   |                                                       |   | -      |       |   |   | -      |   |   |   | - |   |
| Secondary residential                |   |                | -      |   |                                                       |   | -      |       |   |   | -      |   |   |   | - |   |
| Investment residential               |   |                | -      |   |                                                       |   | -      |       |   |   | -      |   |   |   | - |   |
| Farmland                             |   |                | -      |   |                                                       |   | -      |       |   |   | -      |   |   |   | - |   |
| Land, lot and construction           |   |                | -      |   |                                                       |   | -      |       |   |   | -      |   |   |   | - |   |
| Acquired commercial and agricultural |   |                | -      |   |                                                       |   | -      |       |   |   | -      |   |   |   | - |   |
| Prime indirect auto loans            |   |                | -      |   |                                                       |   | -      |       |   |   | -      |   |   |   | - |   |
| Sub-prime indirect auto loans        |   |                | -      |   |                                                       |   | -      |       |   |   | -      |   |   |   | - |   |
| Acquired home equity loans           |   |                | -      |   |                                                       |   | -      |       |   |   | -      |   |   |   | - |   |
| Acquired other consumer loans        |   |                | 65     |   |                                                       |   | -      |       |   |   | -      |   |   |   | 65 |   |
| Total loans                          |   | $                   | 65     |   |                                                       | $      | -      |       |   | $      | -      |   |   | $ | 65 |   |

----

| Purchased credit impaired loans |   | 30-89 Days Past Due |   |   | Greater than 90 Days Past Due and Still Accruing/Accreting |   |   | Nonaccrual |   |   | Total  |   |
|---------------------------------|--------|---------------------|--------|--------|------------------------------------------------------------|--------|--------|------------|--------|--------|--------|--------|
| Real estate mortgage loans:     |   |                |   |   |                                                       |   |   |       |   |   |   |   |
| Owner occupied commercial       |   | $                   | 3,503  |   |                                                       | $      | 23,613 |       |   | $      | -      |   |   | $ | 27,116 |   |
| Office building                 |   |                | 2,669  |   |                                                       |   | 1,587  |       |   |   | -      |   |   |   | 4,256 |   |
| Hotel/motel                     |   |                | 5,126  |   |                                                       |   | 3,547  |       |   |   | -      |   |   |   | 8,673 |   |
| Guest houses                    |   |                | -      |   |                                                       |   | -      |       |   |   | -      |   |   |   | - |   |
| Retail                          |   |                | -      |   |                                                       |   | -      |       |   |   | -      |   |   |   | - |   |
| Multi-family                    |   |                | -      |   |                                                       |   | -      |       |   |   | -      |   |   |   | - |   |
| Other commercial                |   |                | 558    |   |                                                       |   | 9,672  |       |   |   | -      |   |   |   | 10,230 |   |
| Primary residential             |   |                | 907    |   |                                                       |   | 7,904  |       |   |   | -      |   |   |   | 8,811 |   |
| Secondary residential           |   |                | 1,020  |   |                                                       |   | 256    |       |   |   | -      |   |   |   | 1,276 |   |
| Investment residential          |   |                | -      |   |                                                       |   | 739    |       |   |   | -      |   |   |   | 739 |   |
| Farmland                        |   |                | 393    |   |                                                       |   | 1,099  |       |   |   | -      |   |   |   | 1,492 |   |
| Land, lot and construction      |   |                | 693    |   |                                                       |   | 8,270  |       |   |   | -      |   |   |   | 8,963 |   |
| Commercial and agricultural     |   |                | 153    |   |                                                       |   | 424    |       |   |   | -      |   |   |   | 577 |   |
| Prime indirect auto loans       |   |                | 118    |   |                                                       |   | 60     |       |   |   | -      |   |   |   | 178 |   |
| Sub-prime indirect auto loans   |   |                | 260    |   |                                                       |   | 56     |       |   |   | -      |   |   |   | 316 |   |
| Home equity loans               |   |                | 277    |   |                                                       |   | 873    |       |   |   | -      |   |   |   | 1,150 |   |
| Other consumer loans            |   |                | 132    |   |                                                       |   | 84     |       |   |   | -      |   |   |   | 216 |   |
| Total loans                     |   | $                   | 15,809 |   |                                                       | $      | 58,184 |       |   | $      | -      |   |   | $ | 73,993 |   |

| ·   | Pass – These loans range from superior quality with minimal credit risk to loans requiring heightened management attention but that are still an acceptable risk and continue to perform as contracted. |
|--------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Special Mention – Loans classified as special mention have a potential weakness that deserves management's close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of the institution's credit position at some future date. |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Substandard – Loans classified as substandard are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected. |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Doubtful – Loans classified as doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                          |   | Pass   |   |   | Special Mention |   |   | Substandard |   |   | Doubtful |   |   | Total  |   |
|-------------------------------|--------|--------|--------|--------|-----------------|--------|--------|-------------|--------|--------|----------|--------|--------|--------|--------|
| Real estate mortgage loans:   |   |   |   |   |            |   |   |        |   |   |     |   |   |   |   |
| Owner occupied commercial     |   | $      | 6,166  |   |            | $      | -      |        |   | $      | -        |   |   | $      | -      |   |   | $ | 6,166 |   |
| Office building               |   |   | -      |   |            |   | -      |        |   |   | -        |   |   |   | -      |   |   |   | - |   |
| Hotel/motel                   |   |   | -      |   |            |   | -      |        |   |   | -        |   |   |   | -      |   |   |   | - |   |
| Guest houses                  |   |   | 1,020  |   |            |   | -      |        |   |   | -        |   |   |   | -      |   |   |   | 1,020 |   |
| Retail                        |   |   | -      |   |            |   | -      |        |   |   | -        |   |   |   | -      |   |   |   | - |   |
| Multi-family                  |   |   | -      |   |            |   | -      |        |   |   | -        |   |   |   | -      |   |   |   | - |   |
| Other commercial              |   |   | 6,692  |   |            |   | -      |        |   |   | -        |   |   |   | -      |   |   |   | 6,692 |   |
| Primary residential           |   |   | 16,341 |   |            |   | -      |        |   |   | -        |   |   |   | -      |   |   |   | 16,341 |   |
| Secondary residential         |   |   | 12,066 |   |            |   | -      |        |   |   | -        |   |   |   | -      |   |   |   | 12,066 |   |
| Investment residential        |   |   | 186    |   |            |   | -      |        |   |   | -        |   |   |   | -      |   |   |   | 186 |   |
| Farmland                      |   |   | 736    |   |            |   | -      |        |   |   | -        |   |   |   | -      |   |   |   | 736 |   |
| Land, lot and construction    |   |   | 3,678  |   |            |   | -      |        |   |   | -        |   |   |   | -      |   |   |   | 3,678 |   |
| Commercial and agricultural   |   |   | 7,007  |   |            |   | -      |        |   |   | -        |   |   |   | -      |   |   |   | 7,007 |   |
| Prime indirect auto loans     |   |   | 22,281 |   |            |   | -      |        |   |   | -        |   |   |   | -      |   |   |   | 22,281 |   |
| Sub-prime indirect auto loans |   |   | 47     |   |            |   | -      |        |   |   | -        |   |   |   | -      |   |   |   | 47 |   |
| Home equity loans             |   |   | 10,462 |   |            |   | -      |        |   |   | -        |   |   |   | -      |   |   |   | 10,462 |   |
| Other consumer loans          |   |   | 5,090  |   |            |   | -      |        |   |   | 80       |   |   |   | -      |   |   |   | 5,170 |   |
| Total loans                   |   | $      | 91,772 |   |            | $      | -      |        |   | $      | 80       |   |   | $      | -      |   |   | $ | 91,852 |   |

----

|                                         |   | Successor Company                 |   |   | Predecessor Company               |   |
|----------------------------------------------|--------|-----------------------------------|--------|--------|-----------------------------------|--------|
|                                         |   | Three Months Ended March 31, 2011 |   |   | Three Months Ended March 31, 2010 |   |
| Balance, beginning of period                 |   | $                                 | 402    |   |                              | $      | 29,083 |   |
| Provision for loan losses charged to expense |   |                              | 485    |   |                              |   | 4,925 |   |
| Loans charged off                            |   |                              | (10    | )      |                              |   | (6,353 | ) |
| Recoveries of loans previously charged off   |   |                              | -      |   |                              |   | 174 |   |
| Balance, end of period                       |   | $                                 | 877    |   |                              | $      | 27,829 |   |

|                              |   | December 31, 2010 |   |   | Provision |   |   | Net Charge-offs |   |   | March 31, 2011 |   |
|-----------------------------------|--------|-------------------|--------|--------|-----------|--------|--------|-----------------|--------|--------|----------------|--------|
| Real estate mortgage loans:       |   |              |   |   |      |   |   |            |   |   |           |   |
| Commercial                        |   | $                 | 7      |   |      | $      | 151    |            |   | $      | -              |   |   | $ | 158 |   |
| Residential                       |   |              | 164    |   |      |   | 177    |            |   |   | -              |   |   |   | 341 |   |
| Construction and vacant land      |   |              | -      |   |      |   | 61     |            |   |   | -              |   |   |   | 61 |   |
| Commercial and agricultural loans |   |              | 24     |   |      |   | 31     |            |   |   | -              |   |   |   | 55 |   |
| Indirect auto loans               |   |              | 184    |   |      |   | 43     |            |   |   | (10            | )      |   |   | 217 |   |
| Home equity loans                 |   |              | 14     |   |      |   | 16     |            |   |   | -              |   |   |   | 30 |   |
| Other consumer loans              |   |              | 9      |   |      |   | 6      |            |   |   | -              |   |   |   | 15 |   |
| Total loans                       |   | $                 | 402    |   |      | $      | 485    |            |   | $      | (10            | )      |   | $ | 877 |   |

|                         |   | Allowance for Loan Losses             |   |   | Loans                                 |   |
|------------------------------|--------|---------------------------------------|--------|--------|---------------------------------------|--------|
|                         |   | Individually Evaluated for Impairment |   |   | Collectively Evaluated for Impairment |   |   | Purchased Credit-Impaired |   |   | Individually Evaluated for Impairment |   |   | Collectively Evaluated for Impairment (1) |   |   | Purchased Credit-Impaired |   |
| Real estate mortgage loans:  |   |                                  |   |   |                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Commercial                   |   | $                                     | -      |   |                                  | $      | 158 |   |   | $ | - |   |   | $ | - |   |   | $ | 14,451 |   |   | $ | 602,279 |   |
| Residential                  |   |                                  | -      |   |                                  |   | 341 |   |   |   | - |   |   |   | - |   |   |   | 28,882 |   |   |   | 203,465 |   |
| Construction and vacant land |   |                                  | -      |   |                                  |   | 61 |   |   |   | - |   |   |   | - |   |   |   | 3,678 |   |   |   | 36,825 |   |
| Commercial and agricultural  |   |                                  | -      |   |                                  |   | 55 |   |   |   | - |   |   |   | - |   |   |   | 7,449 |   |   |   | 52,770 |   |
| Indirect auto loans          |   |                                  | -      |   |                                  |   | 217 |   |   |   | - |   |   |   | - |   |   |   | 22,328 |   |   |   | 18,325 |   |
| Home equity loans            |   |                                  | -      |   |                                  |   | 30 |   |   |   | - |   |   |   | - |   |   |   | 10,462 |   |   |   | 20,079 |   |
| Other consumer loans         |   |                                  | -      |   |                                  |   | 15 |   |   |   | - |   |   |   | - |   |   |   | 4,602 |   |   |   | 3,869 |   |
| Total loans                  |   | $                                     | -      |   |                                  | $      | 877 |   |   | $ | - |   |   | $ | - |   |   | $ | 91,852 |   |   | $ | 937,612 |   |

|                                     |   | Well Capitalized Requirement |       |   | Adequately Capitalized Requirement |   |       | March 31, 2011 Actual |   |   | December 31, 2010 Actual |   |
|------------------------------------------|--------|------------------------------|------------|--------|------------------------------------|--------|------------|-----------------------|--------|--------|--------------------------|--------|
| Tier 1 Capital (to Average Assets)       |   |                         |       |   |                               |   |       |                  |   |   |                     |   |
| Consolidated                             |   |                         | N/A        |   |                               |   | 3 4.0 | %                     |   |   | 9.0                      | %      |   |   | 8.2 | % |
| TIB Bank                                 |   |                         | 3 5.0 | %      |                               |   | 3 4.0 | %                     |   |   | 8.4                      | %      |   |   | 8.1 | % |
|                                     |   |                         |       |   |                               |   |       |                  |   |   |                     |   |   |   |   |   |
| Tier 1 Capital (to Risk Weighted Assets) |   |                         |       |   |                               |   |       |                  |   |   |                     |   |   |   |   |   |
| Consolidated                             |   |                         | N/A        |   |                               |   | 3 4.0 | %                     |   |   | 14.2                     | %      |   |   | 13.3 | % |
| TIB Bank                                 |   |                         | 3 6.0 | %      |                               |   | 3 4.0 | %                     |   |   | 13.2                     | %      |   |   | 13.0 | % |
|                                     |   |                         |       |   |                               |   |       |                  |   |   |                     |   |   |   |   |   |
| Total Capital (to Risk Weighted Assets)  |   |                         |       |   |                               |   |       |                  |   |   |                     |   |   |   |   |   |
| Consolidated                             |   |                         | N/A        |   |                               |   | 3 8.0 | %                     |   |   | 14.3                     | %      |   |   | 13.4 | % |
| TIB Bank                                 |   |                         | 3 6.0 | %      |                               |   | 3 8.0 | %                     |   |   | 13.3                     | %      |   |   | 13.1 | % |
|                                     |   |                         |       |   |                               |   |       |                  |   |   |                     |   |   |   |   |   |

----

|                                               |   |           |    |   | Fair Value Measurements at March 31, 2011 Using               |   |
|----------------------------------------------------|--------|----------------|---------|--------|---------------------------------------------------------------|--------|
|                                               |   | March 31, 2011 |    |   | 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          |   | $              | 40,329  |   |                                                          | $      | - |   |   | $ | 40,329 |   |   | $ | - |   |
| States and political subdivisions—tax exempt |   |           | 2,782   |   |                                                          |   | - |   |   |   | 2,782 |   |   |   | - |   |
| Marketable equity securities                       |   |           | 139     |   |                                                          |   | 139 |   |   |   | - |   |   |   | - |   |
| Mortgage-backed securities—residential       |   |           | 365,427 |   |                                                          |   | - |   |   |   | 365,427 |   |   |   | - |   |
| Corporate bonds                                    |   |           | 2,287   |   |                                                          |   | - |   |   |   | 2,287 |   |   |   | - |   |
| Collateralized debt obligations                    |   |           | 791     |   |                                                          |   | - |   |   |   | - |   |   |   | 791 |   |
| Available for sale securities                      |   | $              | 411,755 |   |                                                          | $      | 139 |   |   | $ | 410,825 |   |   | $ | 791 |   |
|                                               |   |           |    |   |                                                          |   |   |   |   |   |   |   |   |   |   |   |

|                                               |   |              |    |   | Fair Value Measurements at December 31, 2010 Using            |   |
|----------------------------------------------------|--------|-------------------|---------|--------|---------------------------------------------------------------|--------|
|                                               |   | December 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          |   | $                 | 40,699  |   |                                                          | $      | - |   |   | $ | 40,699 |   |   | $ | - |   |
| States and political subdivisions—tax exempt |   |              | 3,059   |   |                                                          |   | - |   |   |   | 3,059 |   |   |   | - |   |
| States and political subdivisions—taxable    |   |              | 2,157   |   |                                                          |   | - |   |   |   | 2,157 |   |   |   | - |   |
| Marketable equity securities                       |   |              | 74      |   |                                                          |   | 74 |   |   |   | - |   |   |   | - |   |
| Mortgage-backed securities—residential       |   |              | 369,203 |   |                                                          |   | - |   |   |   | 369,203 |   |   |   | - |   |
| Corporate bonds                                    |   |              | 2,105   |   |                                                          |   | - |   |   |   | 2,105 |   |   |   | - |   |
| Collateralized debt obligations                    |   |              | 795     |   |                                                          |   | - |   |   |   | - |   |   |   | 795 |   |
| Available for sale securities                      |   | $                 | 418,092 |   |                                                          | $      | 74 |   |   | $ | 417,223 |   |   | $ | 795 |   |
|                                               |   |              |    |   |                                                          |   |   |   |   |   |   |   |   |   |   |   |

----

|                                                         |   | Fair Value Measurements Using Significant Unobservable Inputs (Level 3)Collateralized Debt Obligations |   |
|--------------------------------------------------------------|--------|--------------------------------------------------------------------------------------------------------|--------|
| Successor Company                                            |   | 2011                                                                                                   |   |
| Beginning balance, January 1,                                |   | $                                                                                                      | 795    |   |
| Included in earnings – other than temporary impairment |   |                                                                                                   | -      |   |
| Included in other comprehensive income                       |   |                                                                                                   | (4     | ) |
| Transfer in to Level 3                                       |   |                                                                                                   | -      |   |
| Ending balance March 31,                                     |   | $                                                                                                      | 791    |   |
|                                                         |   |                                                                                                   |   |   |

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

|                     |   |           |   |   | Fair Value Measurements at March 31, 2011 Using               |    |
|--------------------------|--------|----------------|--------|--------|---------------------------------------------------------------|---------|
|                     |   | March 31, 2011 |   |   | Quoted Prices in Active Markets for Identical Assets(Level 1) |    |   | Significant Other Observable Inputs(Level 2) |   |   | Significant Unobservable Inputs(Level 3) |   |
| Assets:                  |   |           |   |   |                                                          |    |   |   |   |   |   |   |
| Other real estate owned  |   |  $        | 16,885 |   |                                                          |  $ | - |   |   |  $ | - |   |   |  $ | 16,885 |   |
| Other repossessed assets |   |           | 108    |   |                                                          |    | - |   |   |   | 108 |   |   |   | - |   |
|                     |   |           |   |   |                                                          |    |   |   |   |   |   |   |   |   |   |   |

|                     |   |              |   |   | Fair Value Measurements at December 31, 2010 Using            |    |
|--------------------------|--------|-------------------|--------|--------|---------------------------------------------------------------|---------|
|                     |   | December 31, 2010 |   |   | Quoted Prices in Active Markets for Identical Assets(Level 1) |    |   | Significant Other Observable Inputs(Level 2) |   |   | Significant Unobservable Inputs(Level 3) |   |
| Assets:                  |   |              |   |   |                                                          |    |   |   |   |   |   |   |
| Other real estate owned  |   |  $           | 25,673 |   |                                                          |  $ | - |   |   |  $ | - |   |   |  $ | 25,673 |   |
| Other repossessed assets |   |              | 104    |   |                                                          |    | - |   |   |   | 104 |   |   |   | - |   |
|                     |   |              |   |   |                                                          |    |   |   |   |   |   |   |   |   |   |   |

----

|                                                             |   | March 31, 2011 |      |   | December 31, 2010    |   |
|------------------------------------------------------------------|--------|----------------|-----------|--------|----------------------|--------|
| Successor Company                                                |   | Carrying Value |      |   | Estimated Fair Value |   |   | Carrying Value |   |   | Estimated Fair Value |   |
| Financial assets:                                                |   |           |      |   |                 |   |   |   |   |   |   |   |
| Cash and cash equivalents                                        |   | $              | 124,072   |   |                 | $      | 124,072 |   |   | $ | 153,794 |   |   | $ | 153,794 |   |
| Investment securities available for sale                         |   |           | 411,755   |   |                 |   | 411,755 |   |   |   | 418,092 |   |   |   | 418,092 |   |
| Loans, net                                                       |   |           | 1,029,500 |   |                 |   | 992,031 |   |   |   | 1,004,228 |   |   |   | 995,744 |   |
| Federal Home Loan Bank and Independent Bankers’ Bank stock |   |           | 9,621     |   |                 | NM     |   |   |   | 9,621 |   |   | NM |   |
| Accrued interest receivable                                      |   |           | 5,160     |   |                 |   | 5,160 |   |   |   | 4,917 |   |   |   | 4,917 |   |
|                                                             |   |           |      |   |                 |   |   |   |   |   |   |   |   |   |   |   |
| Financial liabilities:                                           |   |           |      |   |                 |   |   |   |   |   |   |   |   |   |   |   |
| Non-contractual deposits                                         |   | $              | 730,995   |   |                 | $      | 730,995 |   |   | $ | 648,019 |   |   | $ | 648,019 |   |
| Contractual deposits                                             |   |           | 609,219   |   |                 |   | 609,975 |   |   |   | 719,006 |   |   |   | 719,328 |   |
| Federal Home Loan Bank Advances                                  |   |           | 120,189   |   |                 |   | 119,898 |   |   |   | 131,116 |   |   |   | 130,906 |   |
| Short-term borrowings                                            |   |           | 46,892    |   |                 |   | 46,890 |   |   |   | 47,158 |   |   |   | 47,156 |   |
| Subordinated debentures                                          |   |           | 22,958    |   |                 |   | 23,203 |   |   |   | 22,887 |   |   |   | 25,267 |   |
| Accrued interest payable                                         |   |           | 6,525     |   |                 |   | 6,525 |   |   |   | 7,260 |   |   |   | 7,260 |   |
|                                                             |   |           |      |   |                 |   |   |   |   |   |   |   |   |   |   |   |

|                         |   | Successor Company                 |   |   | Predecessor Company               |   |
|------------------------------|--------|-----------------------------------|--------|--------|-----------------------------------|--------|
|                         |   | Three Months Ended March 31, 2011 |   |   | Three Months Ended March 31, 2010 |   |
| Balance, beginning of period |   | $                                 | 25,673 |   |                              | $      | 21,352 |   |
| Real estate acquired         |   |                              | 1,290  |   |                              |   | 21,975 |   |
| Changes in valuation reserve |   |                              | -      |   |                              |   | (637 | ) |
| Property sold                |   |                              | (7,459 | )      |                              |   | (1,741 | ) |
| Other                        |   |                              | -      |   |                              |   | 129 |   |
| Balance, end of period       |   | $                                 | 19,504 |   |                              | $      | 41,078 |   |

----

----

----

| •   | TIB Bank, the Company’s subsidiary bank at March 31, 2011, reported leverage, tier 1 risk-based and total risk-based capital ratios of 8.4%, 13.2% and 13.3%, respectively, exceeding all regulatory requirements. |
|---------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| •   | The Company’s net income increased by 91% to $1.1 million and $0.07 per diluted common share as compared to the quarter ended December 31, 2010. |
|---------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------|

| •   | The net interest margin increased to 3.34% during the quarter due to continued favorable repricing of deposit liabilities coupled with redeployment of cash to investable securities.  There continues to be a high level of cash and highly liquid investment securities maintained during the quarter which is available to be redeployed to fund higher yielding assets as such opportunities arise; however, the margin and overall earning asset yield is unfavorably impacted by these lower yielding assets. |
|---------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| •   | The Company originated $33.9 million of residential mortgages, $18.5 million of commercial loans and $18.1 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 to $216 million as of March 31, 2011. |
|---------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

----

|                                                                                                                                                                                                                                                                                                                                                                                                |   | Successor Company |      |   | Predecessor Company |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------|-----------|--------|---------------------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                |   | 2011              |      |   | 2010                |   |
|  (Dollars in thousands)                                                                                                                                                                                                                                                                                                                                                                        |   | AverageBalances   |      |   | Income/Expense      |   |   | Yields/Rates |   |   | AverageBalances |   |   | Income/Expense |   |   | Yields/Rates |   |
| Interest-earning assets:                                                                                                                                                                                                                                                                                                                                                                            |   |              |      |   |                |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Loans (1)(2)                                                                                                                                                                                                                                                                                                                                                                                        |   | $                 | 1,013,147 |   |                | $      | 13,421 |   |   |   | 5.37 | % |   | $ | 1,178,851 |   |   | $ | 16,018 |   |   |   | 5.51 | % |
| Investment securities (2)                                                                                                                                                                                                                                                                                                                                                                           |   |              | 408,136   |   |                |   | 2,358 |   |   |   | 2.34 | % |   |   | 283,694 |   |   |   | 2,244 |   |   |   | 3.21 | % |
| Interest-bearing deposits in other banks                                                                                                                                                                                                                                                                                                                                                            |   |              | 112,602   |   |                |   | 70 |   |   |   | 0.25 | % |   |   | 120,197 |   |   |   | 74 |   |   |   | 0.25 | % |
| Federal Home Loan Bank stock                                                                                                                                                                                                                                                                                                                                                                        |   |              | 9,334     |   |                |   | 25 |   |   |   | 1.09 | % |   |   | 10,447 |   |   |   | 3 |   |   |   | 0.12 | % |
| Federal funds sold and securities sold under agreements to resell                                                                                                                                                                                                                                                                                                                                   |   |              | 3         |   |                |   | - |   |   |   | 0.00 | % |   |   | 13 |   |   |   | - |   |   |   | 0.00 | % |
| Total interest-earning assets                                                                                                                                                                                                                                                                                                                                                                       |   |              | 1,543,222 |   |                |   | 15,874 |   |   |   | 4.17 | % |   |   | 1,593,202 |   |   |   | 18,339 |   |   |   | 4.67 | % |
|                                                                                                                                                                                                                                                                                                                                                                                                |   |              |      |   |                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Non-interest-earning assets:                                                                                                                                                                                                                                                                                                                                                                        |   |              |      |   |                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Cash and due from banks                                                                                                                                                                                                                                                                                                                                                                             |   |              | 23,196    |   |                |   |   |   |   |   |   |   |   |   | 24,627 |   |   |   |   |   |   |   |   |   |
| Premises and equipment, net                                                                                                                                                                                                                                                                                                                                                                         |   |              | 42,992    |   |                |   |   |   |   |   |   |   |   |   | 40,807 |   |   |   |   |   |   |   |   |   |
| Allowance for loan losses                                                                                                                                                                                                                                                                                                                                                                           |   |              | (272      | )      |                |   |   |   |   |   |   |   |   |   | (27,486 | ) |   |   |   |   |   |   |   |   |
| Other assets                                                                                                                                                                                                                                                                                                                                                                                        |   |              | 115,581   |   |                |   |   |   |   |   |   |   |   |   | 69,138 |   |   |   |   |   |   |   |   |   |
| Total non-interest-earning assets                                                                                                                                                                                                                                                                                                                                                                   |   |              | 181,497   |   |                |   |   |   |   |   |   |   |   |   | 107,086 |   |   |   |   |   |   |   |   |   |
| Total assets                                                                                                                                                                                                                                                                                                                                                                                        |   | $                 | 1,724,719 |   |                |   |   |   |   |   |   |   |   | $ | 1,700,288 |   |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                |   |              |      |   |                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest-bearing liabilities:                                                                                                                                                                                                                                                                                                                                                                       |   |              |      |   |                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest-bearing deposits:                                                                                                                                                                                                                                                                                                                                                                          |   |              |      |   |                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| NOW accounts                                                                                                                                                                                                                                                                                                                                                                                        |   | $                 | 175,559   |   |                | $      | 130 |   |   |   | 0.30 | % |   | $ | 210,514 |   |   | $ | 192 |   |   |   | 0.37 | % |
| Money market                                                                                                                                                                                                                                                                                                                                                                                        |   |              | 203,172   |   |                |   | 368 |   |   |   | 0.73 | % |   |   | 203,291 |   |   |   | 529 |   |   |   | 1.06 | % |
| Savings deposits                                                                                                                                                                                                                                                                                                                                                                                    |   |              | 103,268   |   |                |   | 168 |   |   |   | 0.66 | % |   |   | 87,211 |   |   |   | 153 |   |   |   | 0.71 | % |
| Time deposits                                                                                                                                                                                                                                                                                                                                                                                       |   |              | 643,898   |   |                |   | 1,788 |   |   |   | 1.13 | % |   |   | 689,850 |   |   |   | 4,028 |   |   |   | 2.37 | % |
| Total interest-bearing deposits                                                                                                                                                                                                                                                                                                                                                                     |   |              | 1,125,897 |   |                |   | 2,454 |   |   |   | 0.88 | % |   |   | 1,190,866 |   |   |   | 4,902 |   |   |   | 1.67 | % |
|                                                                                                                                                                                                                                                                                                                                                                                                |   |              |      |   |                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Other interest-bearing liabilities:                                                                                                                                                                                                                                                                                                                                                                 |   |              |      |   |                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Short-term borrowings and FHLB advances                                                                                                                                                                                                                                                                                                                                                             |   |              | 171,660   |   |                |   | 251 |   |   |   | 0.59 | % |   |   | 194,095 |   |   |   | 1,237 |   |   |   | 2.58 | % |
| Long-term borrowings                                                                                                                                                                                                                                                                                                                                                                                |   |              | 22,911    |   |                |   | 456 |   |   |   | 8.07 | % |   |   | 63,000 |   |   |   | 654 |   |   |   | 4.21 | % |
| Total interest-bearing liabilities                                                                                                                                                                                                                                                                                                                                                                  |   |              | 1,320,468 |   |                |   | 3,161 |   |   |   | 0.97 | % |   |   | 1,447,961 |   |   |   | 6,793 |   |   |   | 1.90 | % |
|                                                                                                                                                                                                                                                                                                                                                                                                |   |              |      |   |                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Non-interest-bearing liabilities and shareholders’ equity:                                                                                                                                                                                                                                                                                                                                    |   |              |      |   |                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Demand deposits                                                                                                                                                                                                                                                                                                                                                                                     |   |              | 208,580   |   |                |   |   |   |   |   |   |   |   |   | 185,156 |   |   |   |   |   |   |   |   |   |
| Other liabilities                                                                                                                                                                                                                                                                                                                                                                                   |   |              | 11,048    |   |                |   |   |   |   |   |   |   |   |   | 11,565 |   |   |   |   |   |   |   |   |   |
| Shareholders’ equity                                                                                                                                                                                                                                                                                                                                                                          |   |              | 184,623   |   |                |   |   |   |   |   |   |   |   |   | 55,606 |   |   |   |   |   |   |   |   |   |
| Total non-interest-bearing liabilities and shareholders’ equity                                                                                                                                                                                                                                                                                                                               |   |              | 404,251   |   |                |   |   |   |   |   |   |   |   |   | 252,327 |   |   |   |   |   |   |   |   |   |
| Total liabilities and shareholders’ equity                                                                                                                                                                                                                                                                                                                                                    |   | $                 | 1,724,719 |   |                |   |   |   |   |   |   |   |   | $ | 1,700,288 |   |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                |   |              |      |   |                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest rate spread  (tax equivalent basis)                                                                                                                                                                                                                                                                                                                                              |   |              |      |   |                |   |   |   |   |   | 3.20 | % |   |   |   |   |   |   |   |   |   |   | 2.77 | % |
| Net interest income  (tax equivalent basis)                                                                                                                                                                                                                                                                                                                                               |   |              |      |   |                | $      | 12,713 |   |   |   |   |   |   |   |   |   |   | $ | 11,546 |   |   |   |   |   |
| Net interest margin (3) (tax equivalent basis)                                                                                                                                                                                                                                                                                                                                                      |   |              |      |   |                |   |   |   |   |   | 3.34 | % |   |   |   |   |   |   |   |   |   |   | 2.94 | % |
|                                                                                                                                                                                                                                                                                                                                                                                                |   |              |      |   |                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| _______(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. |   |

----

| (Dollars in thousands)                         |   | Successor Company |   |   | Predecessor Company |   |
|------------------------------------------------|--------|-------------------|--------|--------|---------------------|--------|
|                                           |   | 2011              |   |   | 2010                |   |
| Service charges on deposit accounts            |   | $                 | 813    |   |                | $      | 915 |   |
| Investment securities gains, net               |   |              | 12     |   |                |   | 1,642 |   |
| Fees on mortgage loans sold                    |   |              | 354    |   |                |   | 283 |   |
| Investment advisory fees                       |   |              | 387    |   |                |   | 307 |   |
| Debit card income                              |   |              | 413    |   |                |   | 344 |   |
| Earnings on bank owned life insurance policies |   |              | 101    |   |                |   | 100 |   |
| Loss on sale of indirect loans                 |   |              | -      |   |                |   | (346 | ) |
| Management fee income                          |   |              | 525    |   |                |   | - |   |
| Other                                          |   |              | 166    |   |                |   | 169 |   |
| Total non-interest income                      |   | $                 | 2,771  |   |                | $      | 3,414 |   |
|                                           |   |              |   |   |                |   |   |   |

| (Dollars in thousands)                         |   | Successor Company |   |   | Predecessor Company |   |
|------------------------------------------------|--------|-------------------|--------|--------|---------------------|--------|
|                                           |   | 2011              |   |   | 2010                |   |
| Salary and employee benefits                   |   | $                 | 6,501  |   |                | $      | 6,836 |   |
| Net occupancy expense                          |   |              | 2,048  |   |                |   | 2,284 |   |
| Foreclosed asset related expense               |   |              | 522    |   |                |   | 1,100 |   |
| Legal, and other professional                  |   |              | 884    |   |                |   | 863 |   |
| Computer services                              |   |              | 414    |   |                |   | 722 |   |
| Collection costs                               |   |              | (7     | )      |                |   | 43 |   |
| Postage, courier and armored car               |   |              | 268    |   |                |   | 282 |   |
| Marketing and community relations              |   |              | 205    |   |                |   | 382 |   |
| Operating supplies                             |   |              | 142    |   |                |   | 145 |   |
| Directors’ fees                          |   |              | 31     |   |                |   | 195 |   |
| Travel expenses                                |   |              | 39     |   |                |   | 82 |   |
| FDIC and state assessments                     |   |              | 1,121  |   |                |   | 861 |   |
| Amortization of intangibles                    |   |              | 364    |   |                |   | 389 |   |
| Net gains on disposition of repossessed assets |   |              | (14    | )      |                |   | (52 | ) |
| Insurance, non-building                        |   |              | 383    |   |                |   | 312 |   |
| Other operating expense                        |   |              | 424    |   |                |   | 590 |   |
| Total non-interest expense                     |   | $                 | 13,325 |   |                | $      | 15,034 |   |
|                                           |   |              |   |   |                |   |   |   |

----

|                             |   | March 31, 2011              |    |   | December 31, 2010      |   |
|----------------------------------|--------|-----------------------------|---------|--------|------------------------|--------|
| (Dollars in thousands)           |   | Commercial Real Estate |    |   | Percentage Composition |   |   | Commercial Real Estate |   |   | Percentage Composition |   |
| Mixed Use Commercial/Residential |   | $                           | 92,024  |   |                   |   | 15 | % |   | $ | 88,887 |   |   |   | 15 | % |
| Office Buildings                 |   |                        | 92,610  |   |                   |   | 15 | % |   |   | 92,310 |   |   |   | 15 | % |
| Hotels/Motels                    |   |                        | 69,003  |   |                   |   | 11 | % |   |   | 69,177 |   |   |   | 11 | % |
| 1-4 Family and Multi Family      |   |                        | 56,283  |   |                   |   | 9 | % |   |   | 57,645 |   |   |   | 9 | % |
| Guesthouses                      |   |                        | 90,217  |   |                   |   | 15 | % |   |   | 89,868 |   |   |   | 15 | % |
| Retail Buildings                 |   |                        | 68,160  |   |                   |   | 11 | % |   |   | 68,800 |   |   |   | 11 | % |
| Restaurants                      |   |                        | 39,932  |   |                   |   | 6 | % |   |   | 40,382 |   |   |   | 7 | % |
| Marinas/Docks                    |   |                        | 19,016  |   |                   |   | 3 | % |   |   | 19,224 |   |   |   | 3 | % |
| Warehouse and Industrial         |   |                        | 28,684  |   |                   |   | 5 | % |   |   | 28,833 |   |   |   | 5 | % |
| Farmland                         |   |                        | 12,538  |   |                   |   | 2 | % |   |   | 12,083 |   |   |   | 2 | % |
| Other                            |   |                        | 48,263  |   |                   |   | 8 | % |   |   | 45,246 |   |   |   | 7 | % |
| Total                            |   | $                           | 616,730 |   |                   |   | 100 | % |   | $ | 612,455 |   |   |   | 100 | % |
|                             |   |                        |    |   |                   |   |   |   |   |   |   |   |   |   |   |   |

----

| (Dollars in thousands)                                         |   | March 31, 2011 |   |   | December 31, 2010 |   |
|----------------------------------------------------------------|--------|----------------|--------|--------|-------------------|--------|
| Total non-accrual loans                                        |   | $              | -      |   |              | $      | - |   |
| Accruing loans delinquent 90 days or more                      |   |           | 58,184 |   |              |   | 56,337 |   |
| Total                                                          |   | $              | 58,184 |   |              | $      | 56,337 |   |
|                                                           |   |           |   |   |              |   |   |   |
| Non-accrual investment securities                              |   |           | 791    |   |              |   | 795 |   |
| Repossessed personal property (primarily indirect auto loans)  |   |           | 108    |   |              |   | 104 |   |
| Other real estate owned                                        |   |           | 19,504 |   |              |   | 25,673 |   |
| Other assets (*)                                               |   |           | 2,136  |   |              |   | 2,111 |   |
| Total  non-performing assets                         |   | $              | 80,723 |   |              | $      | 85,020 |   |
|                                                           |   |           |   |   |              |   |   |   |
| Allowance for loan losses                                      |   | $              | 877    |   |              | $      | 402 |   |
|                                                           |   |           |   |   |              |   |   |   |
| Non-performing assets as a percent of total assets             |   |           | 4.67   | %      |              |   | 4.84 | % |
| Non-performing loans as a percent of gross loans               |   |           | N/A    |   |              |   | N/A |   |
| Allowance for loan losses as a percent of non-performing loans |   |           | N/A    |   |              |   | N/A |   |
|                                                           |   |           |   |   |              |   |   |   |

|   | (*) | In 1998, TIB Bank made a loan to construct a lumber mill in northern Florida. 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. As of March 31, 2011, the trust is in the process of liquidation and determining the distributions payable to the trust’s beneficiaries. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| OREO Activity              |   |
|----------------------------|--------|
| (Dollars in thousands)     |   |
|                       |   |   |   |
| OREO as of January 1, 2011 |   | $ | 25,673 |   |
| Real estate acquired       |   |   | 1,290 |   |
| Properties sold            |   |   | (7,459 | ) |
| OREO as of March 31, 2011  |   | $ | 19,504 |   |
|                       |   |   |   |   |

----

| March 31, 2011 (Successor Company)       |   |
|------------------------------------------|--------|
| (Dollars in thousands)                   |   | 3 Monthsor Less |   |   | 4 to 6Months |   |   | 7 to 12Months |   |   | 1 to 5Years |   |   | Over 5Years |   |   | Total |   |
| Interest-earning assets:                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Loans                                    |   | $ | 331,109 |   |   | $ | 75,898 |   |   | $ | 99,388 |   |   | $ | 353,238 |   |   | $ | 169,831 |   |   | $ | 1,029,464 |   |
| Investment securities-taxable            |   |   | 35,667 |   |   |   | 11,044 |   |   |   | - |   |   |   | - |   |   |   | 362,123 |   |   |   | 408,834 |   |
| Investment securities-tax exempt         |   |   | - |   |   |   | - |   |   |   | 276 |   |   |   | 834 |   |   |   | 1,672 |   |   |   | 2,782 |   |
| Marketable equity securities             |   |   | 139 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 139 |   |
| FHLB stock                               |   |   | 9,334 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 9,334 |   |
| Interest-bearing deposits in other banks |   |   | 96,365 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 96,365 |   |
| Total interest-earning assets            |   |   | 472,614 |   |   |   | 86,942 |   |   |   | 99,664 |   |   |   | 354,072 |   |   |   | 533,626 |   |   |   | 1,546,918 |   |
|                                     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest-bearing liabilities:            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| NOW accounts                             |   |   | 180,204 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 180,204 |   |
| Money market                             |   |   | 214,532 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 214,532 |   |
| Savings deposits                         |   |   | 111,645 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 111,645 |   |
| Time deposits                            |   |   | 99,304 |   |   |   | 65,801 |   |   |   | 155,118 |   |   |   | 288,996 |   |   |   | - |   |   |   | 609,219 |   |
| Subordinated debentures                  |   |   | 14,106 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 8,852 |   |   |   | 22,958 |   |
| Other borrowings                         |   |   | 46,895 |   |   |   | - |   |   |   | 56,542 |   |   |   | 63,644 |   |   |   | - |   |   |   | 167,081 |   |
| Total interest-bearing liabilities       |   |   | 666,686 |   |   |   | 65,801 |   |   |   | 211,660 |   |   |   | 352,640 |   |   |   | 8,852 |   |   |   | 1,305,639 |   |
|                                     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest sensitivity gap                 |   | $ | (194,072 | ) |   | $ | 21,141 |   |   | $ | (111,996 | ) |   | $ | 1,432 |   |   | $ | 524,774 |   |   | $ | 241,279 |   |
|                                     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Cumulative interest sensitivity gap      |   | $ | (194,072 | ) |   | $ | (172,931 | ) |   | $ | (284,927 | ) |   | $ | (283,495 | ) |   | $ | 241,279 |   |   | $ | 241,279 |   |
|                                     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Cumulative sensitivity ratio             |   |   | (12.5 | %) |   |   | (11.2 | %) |   |   | (18.4 | %) |   |   | (18.3 | %) |   |   | 15.6 | % |   |   | 15.6 | % |
|                                     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

----

|                                          |   | March 31, 2011           |   |
|-----------------------------------------------|--------|--------------------------|--------|
|                                          |   | Immediate Parallel Shift |   |   | Ramped Parallel Shift |   |
| Twelve Month Period                           |   |                     | +2%    |   |   |   | +2% |   |
|                                          |   |                     |   |   |   |   |   |   |
| Percentage change in net interest income |   |                     | -2%    |   |   |   | +4% |   |

----

|   |   Exhibit  2.1  |   - |   Agreement of Merger of TIB Bank with and into NAFH National Bank, by and between NAFH National Bank and TIB Bank, dated as of April 27, 2011 (incorporated by reference to Exhibit 2.1 to the Company’s Current Report on Form 8-K filed with the SEC on May 3, 2011) |
|--------|-------------------------------------|----------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   | 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                                                                                                                                                                             |

----

|                                      |   | TIB FINANCIAL CORP.                                                          |
|-------------------------------------------|--------|------------------------------------------------------------------------------|
|   Date:  May 16, 2011 |   |     /s/ R. Eugene Taylor                                 |
|                                      |   | R. Eugene TaylorChairman and Chief Executive Officer                         |
|                                      |   |                                                                         |
|   Date:  May 16, 2011 |   |     /s/ Christopher G. Marshall                          |
|                                      |   | Christopher G. MarshallChief Financial Officer(Principal Accounting Officer) |