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Letter portraitLegal landscapeQuarterYTD

Citizens Trust Company

Coudersport, PA · Cert 11871

FDIC

Q1 2007

$143.8MAssets
$61.8MLoans
$100.7MDeposits
$18.3MEquity
Deposit mix
88%Interest-bearing $88.8M12%Noninterest $11.9MQ1 2006Q1 2007

NIM

4.91%Q1 ’055.16%Q1 ’065.61%Q1 ’07+0%+6%

Non-interest income vs. expense

2.47%Q1 ’052.59%Q1 ’062.48%Q1 ’07+9%-5%

Executive Summary

  • Earnings: ROA of 0.96%, up 8 bps year over year; NIM at 2.59%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.00%.
  • Funding: loans stand at 61.39% of deposits as of Q1 2007.

Financial Results

Return on Assets (YTD, annualized)

0.96%+8 bps YoY

Net Interest Margin (YTD, annualized)

2.59%+14 bps YoY

Efficiency Ratio (YTD, annualized)

67.66%-502 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ1 2006Q2 2006Q3 2006Q4 2006Q1 2007YoY ΔTrend
Earnings
Return on Assets0.88%0.95%1.00%1.02%0.96%+8 bps
Return on Equity7.10%7.67%8.08%8.15%7.54%+43 bps
Net Interest Margin2.45%2.45%2.49%2.50%2.59%+14 bps
Efficiency Ratio72.68%70.17%67.91%67.07%67.66%-502 bps
Non-Interest Burden1.48%1.40%1.34%1.32%1.40%-7 bps
Growth
Asset Growth (YoY)-0.07%0.49%-2.63%1.94%2.44%+251 bps
Loan Growth (YoY)1.25%0.47%2.10%3.15%4.48%+323 bps
Deposit Growth (YoY)2.75%1.73%0.03%6.23%6.38%+363 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.18%0.09%0.08%0.06%0.00%-18 bps
Allowance / Loans1.00%0.98%0.95%0.96%0.97%-3 bps
Allowance Coverage of NPLsn/an/an/an/an/an/an/a
Capital
Tier 1 Leverage Ration/an/an/an/an/an/an/a
Total Risk-Based Capital28.43%27.92%28.51%29.00%29.31%+89 bps
Equity / Assets12.54%12.17%12.59%12.78%12.74%+19 bps
Liquidity & Funding
Loans / Deposits62.50%61.96%61.95%60.34%61.39%-111 bps
Liquid Assets / Assets1.25%1.19%2.20%6.61%6.58%+533 bps
CRE / Total Capitaln/an/an/an/an/an/an/a