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Central National Bank

Lynchburg, VA · Cert 34200

FDIC

Q3 2006

$127.3MAssets
$73.6MLoans
$116.2MDeposits
$10.7MEquity
Deposit mix
81%Interest-bearing $94.2M19%Noninterest $22.0MQ3 2005Q3 2006

NIM

4.73%Q3 ’044.73%Q3 ’055.37%Q3 ’06-3%-10%

Non-interest income vs. expense

2.23%Q3 ’042.22%Q3 ’052.28%Q3 ’06+1%+2%

Executive Summary

  • Earnings: ROA of 0.43%, down 16 bps year over year; NIM at 2.58%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 0.10%.
  • Funding: loans stand at 63.32% of deposits as of Q3 2006.

Financial Results

Return on Assets (quarter, annualized)

0.43%-16 bps YoY

Net Interest Margin (quarter, annualized)

2.58%-27 bps YoY

Efficiency Ratio (quarter, annualized)

78.36%+812 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ3 2005Q4 2005Q1 2006Q2 2006Q3 2006YoY ΔTrend
Earnings
Return on Assets0.59%0.70%0.65%0.62%0.43%-16 bps
Return on Equity6.94%7.92%7.23%7.06%4.93%-201 bps
Net Interest Margin2.85%2.95%2.81%3.00%2.58%-27 bps
Efficiency Ratio70.24%69.94%71.20%71.67%78.36%+812 bps
Non-Interest Burden1.91%1.92%1.92%2.06%1.95%+4 bps
Growth
Asset Growth (YoY)14.02%4.94%12.36%4.87%5.58%-844 bps
Loan Growth (YoY)4.52%4.91%1.45%8.99%9.33%+480 bps
Deposit Growth (YoY)16.85%4.97%16.81%4.74%5.60%-1,125 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.64%0.02%-0.09%-0.13%-0.10%-74 bps
Allowance / Loans1.47%1.46%1.53%1.50%1.51%+4 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 Capital14.03%14.64%14.58%14.75%14.42%+40 bps
Equity / Assets8.30%9.38%8.57%9.00%8.41%+11 bps
Liquidity & Funding
Loans / Deposits61.16%70.61%61.47%67.31%63.32%+216 bps
Liquid Assets / Assets21.55%25.54%22.44%23.69%23.11%+156 bps
CRE / Total Capitaln/an/an/an/an/an/an/a