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Community First Bank

Lynchburg, VA · Cert 35277

FDIC

Q1 2006

$155.4MAssets
$137.3MLoans
$141.7MDeposits
$12.6MEquity
Loan mix
69%RE $43.6M31%C&I $19.9M0%Consumer $0.0MQ1 2005Q1 2006
Deposit mix
85%Interest-bearing $120.3M15%Noninterest $21.4MQ1 2005Q1 2006

NIM

5.57%Q1 ’045.79%Q1 ’056.65%Q1 ’06+8%+5%

Non-interest income vs. expense

2.84%Q1 ’043.30%Q1 ’0510.82%Q1 ’06+11%+267%

Executive Summary

  • Earnings: ROA of -5.27%, down 569 bps year over year; NIM at 3.93%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.90%.
  • Funding: loans stand at 96.88% of deposits as of Q1 2006.

Financial Results

Return on Assets (YTD, annualized)

-5.27%-569 bps YoY

Net Interest Margin (YTD, annualized)

3.93%+17 bps YoY

Efficiency Ratio (YTD, annualized)

259%+18,007 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ1 2005Q2 2005Q3 2005Q4 2005Q1 2006YoY ΔTrend
Earnings
Return on Assets0.42%0.56%0.57%0.64%-5.27%-569 bps
Return on Equity4.79%6.39%6.43%7.25%-61.07%-6,586 bps
Net Interest Margin3.76%3.73%3.72%3.76%3.93%+17 bps
Efficiency Ratio79.06%74.92%74.53%71.86%259%+18,007 bps
Non-Interest Burden2.88%2.68%2.66%2.57%10.57%+769 bps
Growth
Asset Growth (YoY)5.18%8.14%6.06%4.72%-2.34%-753 bps
Loan Growth (YoY)1.95%4.94%6.06%7.59%2.24%+29 bps
Deposit Growth (YoY)5.12%8.22%6.03%0.29%-2.13%-726 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.65%0.34%0.28%0.30%0.90%+25 bps
Allowance / Loans0.94%0.98%1.03%1.00%1.16%+22 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 Capital11.09%11.19%11.39%11.47%9.91%-118 bps
Equity / Assets8.70%8.71%8.99%9.11%8.12%-58 bps
Liquidity & Funding
Loans / Deposits92.73%92.60%93.63%98.62%96.88%+415 bps
Liquid Assets / Assets0.14%0.15%0.15%0.16%0.16%+1 bps
CRE / Total Capitaln/an/an/an/an/an/an/a