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Bank of Powhatan, National Association

Powhatan, VA · Cert 35346

FDIC

Q1 2007

$68.9MAssets
$57.8MLoans
$60.9MDeposits
$7.4MEquity
Loan mix
68%RE $35.9M32%C&I $17.2M0%Consumer $0.1MQ1 2006Q1 2007
Deposit mix
84%Interest-bearing $51.1M16%Noninterest $9.8MQ1 2006Q1 2007

NIM

6.30%Q1 ’057.43%Q1 ’067.72%Q1 ’07+12%-4%

Non-interest income vs. expense

9.39%Q1 ’059.46%Q1 ’065.49%Q1 ’07+37%+26%

Executive Summary

  • Earnings: ROA of -2.11%, down 319 bps year over year; NIM at 4.83%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 3.72%.
  • Funding: loans stand at 94.99% of deposits as of Q1 2007.

Financial Results

Return on Assets (YTD, annualized)

-2.11%-319 bps YoY

Net Interest Margin (YTD, annualized)

4.83%-22 bps YoY

Efficiency Ratio (YTD, annualized)

99.47%+1,114 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 Assets1.08%0.62%0.56%0.73%-2.11%-319 bps
Return on Equity10.59%6.19%5.50%7.11%-19.66%-3,025 bps
Net Interest Margin5.05%4.76%4.86%4.77%4.83%-22 bps
Efficiency Ratio88.34%92.81%89.04%85.99%99.47%+1,114 bps
Non-Interest Burden3.80%4.05%3.88%3.65%4.80%+100 bps
Growth
Asset Growth (YoY)-4.88%0.01%-0.71%-3.97%3.36%+824 bps
Loan Growth (YoY)5.13%5.66%18.72%16.02%11.28%+616 bps
Deposit Growth (YoY)-4.97%-2.27%-2.87%-7.99%5.03%+1,000 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.15%0.09%0.29%0.26%3.72%+358 bps
Allowance / Loans1.50%1.47%1.48%1.56%1.27%-23 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 Capital13.10%13.01%12.50%12.85%12.66%-44 bps
Equity / Assets10.85%9.93%10.41%10.70%10.75%-10 bps
Liquidity & Funding
Loans / Deposits89.65%82.58%93.76%94.99%94.99%+534 bps
Liquid Assets / Assets15.61%21.07%11.91%13.29%10.75%-486 bps
CRE / Total Capitaln/an/an/an/an/an/an/a