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First Community Bank

Woodstock, VT · Cert 32727

FDIC

Q3 2007

$72.8MAssets
$62.4MLoans
$60.7MDeposits
$8.1MEquity
Loan mix
81%RE $41.7M19%C&I $9.8M0%Consumer $0.0MQ3 2006Q3 2007
Deposit mix
92%Interest-bearing $56.1M8%Noninterest $4.7MQ3 2006Q3 2007

NIM

6.04%Q3 ’056.55%Q3 ’066.63%Q3 ’07-8%-2%

Non-interest income vs. expense

4.20%Q3 ’054.19%Q3 ’064.78%Q3 ’07+1%+16%

Executive Summary

  • Earnings: ROA of -0.42%, down 60 bps year over year; NIM at 3.82%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.00%.
  • Funding: loans stand at 102.80% of deposits as of Q3 2007.

Financial Results

Return on Assets (quarter, annualized)

-0.42%-60 bps YoY

Net Interest Margin (quarter, annualized)

3.82%-8 bps YoY

Efficiency Ratio (quarter, annualized)

109.41%+1,482 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ3 2006Q4 2006Q1 2007Q2 2007Q3 2007YoY ΔTrend
Earnings
Return on Assets0.19%0.04%0.03%0.05%-0.42%-60 bps
Return on Equity1.78%0.39%0.34%0.44%-3.79%-557 bps
Net Interest Margin3.90%3.69%3.46%3.56%3.82%-8 bps
Efficiency Ratio94.59%97.46%100.12%98.92%109.41%+1,482 bps
Non-Interest Burden3.66%3.58%3.47%3.51%4.23%+57 bps
Growth
Asset Growth (YoY)5.18%11.43%13.19%-0.43%-9.24%-1,442 bps
Loan Growth (YoY)1.94%4.24%0.84%-2.91%-1.66%-360 bps
Deposit Growth (YoY)7.60%16.20%18.63%-0.14%-8.84%-1,644 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.00%0.02%-0.01%0.00%0.00%0 bps
Allowance / Loans1.13%1.12%1.17%1.18%1.16%+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 Capital14.27%13.76%14.11%14.37%14.06%-22 bps
Equity / Assets10.11%9.76%9.92%10.90%11.14%+103 bps
Liquidity & Funding
Loans / Deposits95.29%92.63%90.27%99.53%102.80%+750 bps
Liquid Assets / Assets0.15%0.14%0.14%0.15%0.16%+1 bps
CRE / Total Capitaln/an/an/an/an/an/an/a