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Letter portraitLegal landscapeQuarterYTD

Citizens First Bank, Inc.

Ravenswood, WV · Cert 57163

FDIC

Q3 2008

$66.0MAssets
$45.9MLoans
$53.8MDeposits
$11.7MEquity
Deposit mix
84%Interest-bearing $45.5M16%Noninterest $8.4MQ3 2007Q3 2008

NIM

6.66%Q3 ’067.22%Q3 ’073.24%Q3 ’08-2%-45%

Non-interest income vs. expense

2.83%Q3 ’063.06%Q3 ’071.55%Q3 ’08+8%-53%

Executive Summary

  • Earnings: ROA of 0.74%, down 6 bps year over year; NIM at 2.28%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.24%.
  • Funding: loans stand at 85.29% of deposits as of Q3 2008.

Financial Results

Return on Assets (YTD, annualized)

0.74%-6 bps YoY

Net Interest Margin (YTD, annualized)

2.28%-184 bps YoY

Efficiency Ratio (YTD, annualized)

54.98%-1,102 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ3 2007Q4 2007Q1 2008Q2 2008Q3 2008YoY ΔTrend
Earnings
Return on Assets0.81%0.93%1.09%0.40%0.74%-6 bps
Return on Equity8.67%9.88%11.00%3.20%5.33%-334 bps
Net Interest Margin4.12%4.23%4.17%1.34%2.28%-184 bps
Efficiency Ratio66.00%66.45%63.96%63.42%54.98%-1,102 bps
Non-Interest Burden2.55%2.63%2.48%0.77%1.20%-135 bps
Growth
Asset Growth (YoY)-3.38%-4.95%-2.23%8.84%11.69%+1,508 bps
Loan Growth (YoY)2.79%0.12%-2.42%-1.61%-2.89%-568 bps
Deposit Growth (YoY)-4.60%-6.08%-3.10%-1.19%1.99%+659 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.03%0.09%-0.02%0.35%0.24%+21 bps
Allowance / Loans1.23%1.17%1.20%1.03%1.01%-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 Capital15.97%15.69%16.16%16.19%16.09%+12 bps
Equity / Assets10.06%9.90%9.88%17.31%17.76%+769 bps
Liquidity & Funding
Loans / Deposits89.58%87.89%83.28%81.83%85.29%-429 bps
Liquid Assets / Assets1.15%1.15%1.11%1.03%1.06%-9 bps
CRE / Total Capitaln/an/an/an/an/an/an/a