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Village Bank & Trust Company

Gilford, NH · Cert 23675

FDIC

Q3 2005

$77.1MAssets
$34.0MLoans
$67.4MDeposits
$6.5MEquity
Loan mix
80%RE $12.4M20%C&I $3.1M0%Consumer $0.0MQ3 2004Q3 2005
Deposit mix
83%Interest-bearing $55.7M17%Noninterest $11.7MQ3 2004Q3 2005

NIM

3.87%Q3 ’034.03%Q3 ’044.68%Q3 ’05+10%+15%

Non-interest income vs. expense

2.92%Q3 ’033.15%Q3 ’047.87%Q3 ’05+7%+182%

Executive Summary

  • Earnings: ROA of -2.98%, down 388 bps year over year; NIM at 4.22%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.06%.
  • Funding: loans stand at 50.42% of deposits as of Q3 2005.

Financial Results

Return on Assets (YTD, annualized)

-2.98%-388 bps YoY

Net Interest Margin (YTD, annualized)

4.22%+56 bps YoY

Efficiency Ratio (YTD, annualized)

165.98%+9,099 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ3 2004Q4 2004Q1 2005Q2 2005Q3 2005YoY ΔTrend
Earnings
Return on Assets0.90%0.91%0.89%0.96%-2.98%-388 bps
Return on Equity8.63%8.61%8.14%8.52%-28.25%-3,688 bps
Net Interest Margin3.66%3.72%4.00%4.06%4.22%+56 bps
Efficiency Ratio74.99%74.01%72.11%70.67%165.98%+9,099 bps
Non-Interest Burden2.61%2.62%2.76%2.73%7.35%+474 bps
Growth
Asset Growth (YoY)6.34%-2.25%4.78%-4.38%-10.69%-1,703 bps
Loan Growth (YoY)15.46%7.06%6.55%-4.43%-14.80%-3,026 bps
Deposit Growth (YoY)5.75%-3.81%5.17%-5.79%-11.98%-1,773 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.13%0.10%0.00%0.08%0.06%-7 bps
Allowance / Loans1.00%1.07%1.14%1.12%1.22%+23 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 Capital20.02%20.88%21.84%22.74%18.45%-157 bps
Equity / Assets9.95%11.21%10.72%11.81%8.46%-149 bps
Liquidity & Funding
Loans / Deposits52.08%58.24%52.86%56.09%50.42%-167 bps
Liquid Assets / Assets8.54%5.02%5.50%5.62%6.19%-235 bps
CRE / Total Capitaln/an/an/an/an/an/an/a