PackageTrendsPeer
Letter portraitLegal landscapeQuarterYTD

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

4.75%Q2 ’045.66%Q2 ’057.21%Q2 ’06+11%+25%

Non-interest income vs. expense

3.84%Q2 ’043.79%Q2 ’057.36%Q2 ’06+4%+111%

Executive Summary

  • Earnings: ROA of -2.35%, down 232 bps year over year; NIM at 4.80%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.69%.
  • Funding: loans stand at 94.66% of deposits as of Q2 2006.

Financial Results

Return on Assets (quarter, annualized)

-2.35%-232 bps YoY

Net Interest Margin (quarter, annualized)

4.80%+97 bps YoY

Efficiency Ratio (quarter, annualized)

142.68%+5,446 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ2 2005Q3 2005Q4 2005Q1 2006Q2 2006YoY ΔTrend
Earnings
Return on Assets-0.04%0.15%0.60%0.25%-2.35%-232 bps
Return on Equity-0.41%1.58%6.05%2.48%-23.69%-2,328 bps
Net Interest Margin3.83%3.95%4.34%4.03%4.80%+97 bps
Efficiency Ratio88.23%90.12%80.97%87.62%142.68%+5,446 bps
Non-Interest Burden3.32%3.52%3.42%3.49%7.00%+368 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 / Loans0.34%0.34%0.08%-0.02%0.69%+35 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