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Shenandoah Valley National Bank

Winchester, VA · Cert 35107

FDIC

Q1 2007

$482.7MAssets
$377.7MLoans
$372.9MDeposits
$38.6MEquity
Deposit mix
93%Interest-bearing $346.1M7%Noninterest $26.9MQ1 2006Q1 2007

NIM

5.61%Q1 ’056.77%Q1 ’067.25%Q1 ’07+2%-9%

Non-interest income vs. expense

10.16%Q1 ’058.23%Q1 ’062.68%Q1 ’07-10%+27%

Executive Summary

  • Earnings: ROA of 0.64%, down 54 bps year over year; NIM at 3.20%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 0.01%.
  • Funding: loans stand at 101.27% of deposits as of Q1 2007.

Financial Results

Return on Assets (YTD, annualized)

0.64%-54 bps YoY

Net Interest Margin (YTD, annualized)

3.20%-31 bps YoY

Efficiency Ratio (YTD, annualized)

67.49%-1,290 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ1 2006Q2 2006Q3 2006Q4 2006Q1 2007YoY ΔTrend
Earnings
Return on Assets1.19%1.05%0.80%0.21%0.64%-54 bps
Return on Equity14.01%12.64%9.67%2.55%8.08%-593 bps
Net Interest Margin3.51%3.42%3.30%3.20%3.20%-31 bps
Efficiency Ratio80.39%81.16%83.59%91.86%67.49%-1,290 bps
Non-Interest Burden1.50%1.64%1.93%2.59%1.91%+41 bps
Growth
Asset Growth (YoY)39.99%45.14%31.48%20.59%19.10%-2,090 bps
Loan Growth (YoY)43.95%47.38%30.19%20.48%18.07%-2,588 bps
Deposit Growth (YoY)44.18%54.91%43.32%31.24%22.02%-2,216 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.07%0.05%0.06%0.08%-0.01%-8 bps
Allowance / Loans0.71%0.72%0.80%0.95%1.06%+35 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 Capital11.43%10.90%10.79%10.87%10.86%-58 bps
Equity / Assets8.48%8.07%8.01%7.93%8.00%-48 bps
Liquidity & Funding
Loans / Deposits104.66%106.57%95.06%95.89%101.27%-339 bps
Liquid Assets / Assets0.15%0.01%0.01%0.05%0.01%-14 bps
CRE / Total Capitaln/an/an/an/an/an/an/a