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First Brandon National Bank

Brandon, VT · Cert 6263

FDIC

Q1 2007

$100.7MAssets
$66.2MLoans
$86.6MDeposits
$11.0MEquity
Loan mix
89%RE $48.2M10%C&I $5.6M0%Consumer $0.1MQ1 2006Q1 2007
Deposit mix
85%Interest-bearing $73.2M15%Noninterest $13.4MQ1 2006Q1 2007

NIM

5.24%Q1 ’055.55%Q1 ’066.14%Q1 ’07-4%-2%

Non-interest income vs. expense

3.38%Q1 ’053.56%Q1 ’063.31%Q1 ’07+5%-6%

Executive Summary

  • Earnings: ROA of 1.14%, up 5 bps year over year; NIM at 4.17%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.05%.
  • Funding: loans stand at 76.43% of deposits as of Q1 2007.

Financial Results

Return on Assets (YTD, annualized)

1.14%+5 bps YoY

Net Interest Margin (YTD, annualized)

4.17%-9 bps YoY

Efficiency Ratio (YTD, annualized)

67.70%-252 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 Assets1.09%1.21%1.48%1.40%1.14%+5 bps
Return on Equity10.63%11.54%14.06%13.29%10.68%+5 bps
Net Interest Margin4.26%4.44%4.26%4.09%4.17%-9 bps
Efficiency Ratio70.22%67.83%68.16%67.90%67.70%-252 bps
Non-Interest Burden2.75%2.74%2.64%2.53%2.59%-16 bps
Growth
Asset Growth (YoY)-1.28%-0.72%2.81%5.30%7.10%+838 bps
Loan Growth (YoY)3.50%2.27%-2.25%-1.46%3.63%+13 bps
Deposit Growth (YoY)-1.15%0.43%5.61%7.55%8.90%+1,005 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.03%0.01%-0.02%-0.01%0.05%+2 bps
Allowance / Loans1.34%1.33%0.91%0.90%0.88%-47 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 Capital20.95%21.40%21.59%20.58%20.99%+4 bps
Equity / Assets10.70%10.86%10.75%10.40%10.96%+25 bps
Liquidity & Funding
Loans / Deposits80.31%81.29%75.47%73.87%76.43%-389 bps
Liquid Assets / Assets0.01%0.01%0.08%0.01%0.02%+1 bps
CRE / Total Capitaln/an/an/an/an/an/an/a