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Rockingham Heritage Bank

Harrisonburg, VA · Cert 33195

FDIC

Q2 2007

$427.4MAssets
$345.7MLoans
$349.6MDeposits
$60.1MEquity
Loan mix
77%RE $226.1M22%C&I $66.5M1%Consumer $3.0MQ2 2006Q2 2007
Deposit mix
85%Interest-bearing $298.7M15%Noninterest $50.9MQ2 2006Q2 2007

NIM

5.95%Q2 ’056.82%Q2 ’066.97%Q2 ’07+1%-2%

Non-interest income vs. expense

2.37%Q2 ’052.58%Q2 ’062.62%Q2 ’07+10%+1%

Executive Summary

  • Earnings: ROA of 1.14%, down 5 bps year over year; NIM at 3.92%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.05%.
  • Funding: loans stand at 98.90% of deposits as of Q2 2007.

Financial Results

Return on Assets (quarter, annualized)

1.14%-5 bps YoY

Net Interest Margin (quarter, annualized)

3.92%-10 bps YoY

Efficiency Ratio (quarter, annualized)

57.89%-30 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ2 2006Q3 2006Q4 2006Q1 2007Q2 2007YoY ΔTrend
Earnings
Return on Assets1.20%1.49%1.34%1.14%1.14%-5 bps
Return on Equity13.55%12.75%9.99%8.51%8.28%-527 bps
Net Interest Margin4.02%4.07%3.96%3.82%3.92%-10 bps
Efficiency Ratio58.18%56.98%53.10%56.96%57.89%-30 bps
Non-Interest Burden2.17%2.19%1.91%2.04%2.19%+2 bps
Growth
Asset Growth (YoY)18.26%65.14%63.54%59.80%51.94%+3,368 bps
Loan Growth (YoY)18.21%57.51%54.99%52.99%41.91%+2,371 bps
Deposit Growth (YoY)17.63%57.92%60.59%50.71%45.77%+2,813 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.00%-0.01%0.06%-0.02%0.05%+5 bps
Allowance / Loans0.75%0.82%0.84%0.85%0.87%+12 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 Capital11.18%12.15%12.10%12.16%13.12%+194 bps
Equity / Assets8.83%13.57%13.34%13.56%14.06%+523 bps
Liquidity & Funding
Loans / Deposits101.58%102.02%100.82%102.07%98.90%-268 bps
Liquid Assets / Assets2.13%1.82%0.74%0.72%0.67%-146 bps
CRE / Total Capitaln/an/an/an/an/an/an/a