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First National Exchange Bank

Roanoke, VA · Cert 34645

FDIC

Q3 2006

$213.2MAssets
$128.1MLoans
$192.5MDeposits
$20.0MEquity
Deposit mix
87%Interest-bearing $168.1M13%Noninterest $24.4MQ3 2005Q3 2006

NIM

5.04%Q3 ’044.83%Q3 ’055.12%Q3 ’06-12%-2%

Non-interest income vs. expense

2.09%Q3 ’042.35%Q3 ’052.55%Q3 ’06+15%+8%

Executive Summary

  • Earnings: ROA of 0.27%, down 12 bps year over year; NIM at 2.54%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 0.06%.
  • Funding: loans stand at 66.54% of deposits as of Q3 2006.

Financial Results

Return on Assets (YTD, annualized)

0.27%-12 bps YoY

Net Interest Margin (YTD, annualized)

2.54%-6 bps YoY

Efficiency Ratio (YTD, annualized)

89.65%+810 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ3 2005Q4 2005Q1 2006Q2 2006Q3 2006YoY ΔTrend
Earnings
Return on Assets0.39%0.37%0.24%0.27%0.27%-12 bps
Return on Equity4.58%4.25%2.57%2.87%2.84%-174 bps
Net Interest Margin2.60%2.65%2.46%2.55%2.54%-6 bps
Efficiency Ratio81.55%82.98%91.00%89.77%89.65%+810 bps
Non-Interest Burden2.07%2.14%2.21%2.25%2.24%+17 bps
Growth
Asset Growth (YoY)-8.36%-8.07%-7.16%-8.60%-2.05%+631 bps
Loan Growth (YoY)-4.64%-11.69%-7.07%-8.08%-5.91%-127 bps
Deposit Growth (YoY)-9.09%-9.12%-7.60%-9.13%-2.57%+652 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.07%0.07%-0.08%-0.07%-0.06%-14 bps
Allowance / Loans1.37%1.50%1.50%1.52%1.55%+18 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 Capital14.65%15.67%15.79%15.70%15.86%+121 bps
Equity / Assets8.91%9.32%9.40%9.46%9.37%+46 bps
Liquidity & Funding
Loans / Deposits68.90%66.08%67.51%67.80%66.54%-236 bps
Liquid Assets / Assets31.69%34.49%32.71%31.39%31.96%+27 bps
CRE / Total Capitaln/an/an/an/an/an/an/a