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Letter portraitLegal landscapeQuarterYTD

First-Citizens Bank, A Virginia Corporation

Roanoke, VA · Cert 34453

FDIC

Q1 2006

$204.3MAssets
$197.1MLoans
$993KDeposits
$68.2MEquity
Deposit mix
50%Interest-bearing $500K50%Noninterest $493KQ1 2005Q1 2006

NIM

7.68%Q1 ’048.28%Q1 ’059.42%Q1 ’06+2%+2%

Non-interest income vs. expense

17.53%Q1 ’0419.55%Q1 ’0521.53%Q1 ’06-120%+36%

Executive Summary

  • Earnings: ROA of 2.75%, up 2 bps year over year; NIM at 4.63%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 1.72%.
  • Funding: loans stand at 19848.44% of deposits as of Q1 2006.

Financial Results

Return on Assets (quarter, annualized)

2.75%+2 bps YoY

Net Interest Margin (quarter, annualized)

4.63%+9 bps YoY

Efficiency Ratio (quarter, annualized)

77.30%+422 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ1 2005Q2 2005Q3 2005Q4 2005Q1 2006YoY ΔTrend
Earnings
Return on Assets2.74%3.82%4.98%4.01%2.75%+2 bps
Return on Equity9.84%12.93%16.13%13.02%8.70%-114 bps
Net Interest Margin4.55%4.43%4.61%4.62%4.63%+9 bps
Efficiency Ratio73.09%68.70%65.28%68.20%77.30%+422 bps
Non-Interest Burden-2.65%-4.57%-6.05%-4.64%-1.69%+96 bps
Growth
Asset Growth (YoY)-2.99%-6.73%-5.77%1.47%-1.83%+116 bps
Loan Growth (YoY)4.52%1.34%1.27%3.32%-1.89%-640 bps
Deposit Growth (YoY)60.95%131.36%114.79%104.35%21.69%-3,926 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans2.31%2.43%2.28%2.46%1.72%-59 bps
Allowance / Loans7.41%7.42%7.57%6.84%7.60%+19 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 Capital30.55%31.72%33.34%31.91%35.25%+470 bps
Equity / Assets28.86%30.22%31.54%30.04%33.38%+452 bps
Liquidity & Funding
Loans / Deposits24618%17031%18169%21094%19848%-476,970 bps
Liquid Assets / Assets0.00%0.00%0.00%0.00%0.00%0 bps
CRE / Total Capitaln/an/an/an/an/an/an/a