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Albemarle First Bank

Charlottesville, VA · Cert 34947

FDIC

Q2 2006

$122.2MAssets
$96.8MLoans
$102.2MDeposits
$12.2MEquity
Loan mix
64%RE $34.1M35%C&I $18.5M1%Consumer $0.4MQ2 2005Q2 2006
Deposit mix
86%Interest-bearing $88.2M14%Noninterest $14.1MQ2 2005Q2 2006

NIM

4.56%Q2 ’045.42%Q2 ’056.66%Q2 ’06+13%+20%

Non-interest income vs. expense

3.68%Q2 ’043.65%Q2 ’055.54%Q2 ’06+3%+63%

Executive Summary

  • Earnings: ROA of -1.08%, down 111 bps year over year; NIM at 4.39%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.34%.
  • Funding: loans stand at 94.66% of deposits as of Q2 2006.

Financial Results

Return on Assets (YTD, annualized)

-1.08%-111 bps YoY

Net Interest Margin (YTD, annualized)

4.39%+72 bps YoY

Efficiency Ratio (YTD, annualized)

117.80%+2,899 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ2 2005Q3 2005Q4 2005Q1 2006Q2 2006YoY ΔTrend
Earnings
Return on Assets0.03%0.07%0.20%0.25%-1.08%-111 bps
Return on Equity0.38%0.80%2.19%2.48%-10.65%-1,102 bps
Net Interest Margin3.68%3.79%4.05%4.03%4.39%+72 bps
Efficiency Ratio88.82%89.27%87.05%87.62%117.80%+2,899 bps
Non-Interest Burden3.22%3.33%3.46%3.49%5.23%+201 bps
Growth
Asset Growth (YoY)3.34%-0.02%-4.42%-0.48%0.58%-276 bps
Loan Growth (YoY)9.22%1.07%-5.79%2.17%3.32%-589 bps
Deposit Growth (YoY)8.36%4.33%-0.54%-0.58%0.85%-751 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.25%0.28%0.24%-0.02%0.34%+9 bps
Allowance / Loans1.43%1.44%1.50%1.42%1.67%+24 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 Capital12.09%12.44%13.83%12.90%12.58%+49 bps
Equity / Assets9.31%9.55%10.48%9.87%10.00%+69 bps
Liquidity & Funding
Loans / Deposits92.39%91.49%87.99%94.88%94.66%+227 bps
Liquid Assets / Assets0.32%0.21%0.39%0.13%0.16%-15 bps
CRE / Total Capitaln/an/an/an/an/an/an/a