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Patrick Henry National Bank

Bassett, VA · Cert 22359

FDIC

Q3 2006

$396.3MAssets
$243.1MLoans
$369.4MDeposits
$24.6MEquity
Deposit mix
84%Interest-bearing $309.6M16%Noninterest $59.8MQ3 2005Q3 2006

NIM

4.42%Q3 ’044.62%Q3 ’055.17%Q3 ’06+2%+3%

Non-interest income vs. expense

1.94%Q3 ’042.06%Q3 ’052.11%Q3 ’06+10%+4%

Executive Summary

  • Earnings: ROA of 0.58%, up 6 bps year over year; NIM at 2.57%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.02%.
  • Funding: loans stand at 65.82% of deposits as of Q3 2006.

Financial Results

Return on Assets (YTD, annualized)

0.58%+6 bps YoY

Net Interest Margin (YTD, annualized)

2.57%+9 bps YoY

Efficiency Ratio (YTD, annualized)

73.49%-2 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ3 2005Q4 2005Q1 2006Q2 2006Q3 2006YoY ΔTrend
Earnings
Return on Assets0.52%0.50%0.65%0.58%0.58%+6 bps
Return on Equity8.48%8.19%10.64%9.37%9.37%+89 bps
Net Interest Margin2.49%2.47%2.66%2.59%2.57%+9 bps
Efficiency Ratio73.51%74.76%70.04%73.17%73.49%-2 bps
Non-Interest Burden1.74%1.76%1.77%1.82%1.81%+7 bps
Growth
Asset Growth (YoY)0.15%4.55%2.38%2.57%2.59%+243 bps
Loan Growth (YoY)3.90%13.44%11.14%11.61%11.11%+721 bps
Deposit Growth (YoY)-0.12%4.61%2.30%2.61%2.40%+252 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans-0.01%0.07%0.00%0.02%0.02%+3 bps
Allowance / Loans1.19%1.07%1.09%1.07%1.06%-13 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 Capital11.75%11.22%11.53%11.51%11.38%-37 bps
Equity / Assets6.14%6.00%6.26%6.26%6.22%+7 bps
Liquidity & Funding
Loans / Deposits60.66%62.31%63.79%65.25%65.82%+516 bps
Liquid Assets / Assets28.71%29.21%28.39%26.65%26.74%-197 bps
CRE / Total Capitaln/an/an/an/an/an/an/a