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Community National Bank

Pulaski, VA · Cert 33930

FDIC

Q1 2004

$69.5MAssets
$40.1MLoans
$55.8MDeposits
$13.1MEquity
Loan mix
38%RE $13.9M61%C&I $22.1M1%Consumer $0.3MQ1 2003Q1 2004
Deposit mix
91%Interest-bearing $50.6M9%Noninterest $5.2MQ1 2003Q1 2004

NIM

5.87%Q1 ’024.80%Q1 ’034.46%Q1 ’04-15%+4%

Non-interest income vs. expense

3.25%Q1 ’023.22%Q1 ’033.26%Q1 ’04+2%+8%

Executive Summary

  • Earnings: ROA of 0.33%, up 25 bps year over year; NIM at 3.26%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.00%.
  • Funding: loans stand at 71.78% of deposits as of Q1 2004.

Financial Results

Return on Assets (quarter, annualized)

0.33%+25 bps YoY

Net Interest Margin (quarter, annualized)

3.26%+13 bps YoY

Efficiency Ratio (quarter, annualized)

80.60%-445 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ1 2003Q2 2003Q3 2003Q4 2003Q1 2004YoY ΔTrend
Earnings
Return on Assets0.08%10.15%0.23%0.00%0.33%+25 bps
Return on Equity0.90%0.99%1.10%0.00%1.75%+86 bps
Net Interest Margin3.14%-1.86%3.22%-0.85%3.26%+13 bps
Efficiency Ratio85.05%69.06%89.85%79.58%80.60%-445 bps
Non-Interest Burden2.57%-1.77%2.83%-0.83%2.78%+21 bps
Growth
Asset Growth (YoY)6.50%23.41%23.14%17.20%18.77%+1,228 bps
Loan Growth (YoY)24.83%26.02%25.68%17.54%-1.46%-2,628 bps
Deposit Growth (YoY)6.80%8.14%5.24%1.50%5.37%-143 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.11%-0.35%0.00%0.37%0.00%-11 bps
Allowance / Loans1.09%1.34%1.37%1.20%1.23%+14 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 Capital22.79%14.06%10.65%17.78%18.24%-455 bps
Equity / Assets9.14%20.35%21.59%19.09%18.83%+969 bps
Liquidity & Funding
Loans / Deposits76.75%71.66%75.35%77.16%71.78%-497 bps
Liquid Assets / Assets8.58%5.14%7.94%7.71%7.72%-86 bps
CRE / Total Capitaln/an/an/an/an/an/an/a