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Ontario National Bank

Clifton Springs, NY · Cert 7005

FDIC

Q3 2006

$93.2MAssets
$59.4MLoans
$80.5MDeposits
$9.4MEquity
Loan mix
88%RE $38.3M11%C&I $5.0M0%Consumer $0.2MQ3 2005Q3 2006
Deposit mix
83%Interest-bearing $66.7M17%Noninterest $13.9MQ3 2005Q3 2006

NIM

5.22%Q3 ’045.78%Q3 ’056.17%Q3 ’06+5%+0%

Non-interest income vs. expense

3.58%Q3 ’043.80%Q3 ’054.55%Q3 ’06+1%+30%

Executive Summary

  • Earnings: ROA of 0.35%, down 42 bps year over year; NIM at 4.17%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 0.03%.
  • Funding: loans stand at 73.73% of deposits as of Q3 2006.

Financial Results

Return on Assets (quarter, annualized)

0.35%-42 bps YoY

Net Interest Margin (quarter, annualized)

4.17%+2 bps YoY

Efficiency Ratio (quarter, annualized)

91.20%+1,650 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ3 2005Q4 2005Q1 2006Q2 2006Q3 2006YoY ΔTrend
Earnings
Return on Assets0.77%0.66%0.84%0.86%0.35%-42 bps
Return on Equity8.51%6.92%8.60%8.71%3.54%-497 bps
Net Interest Margin4.15%4.17%4.36%4.32%4.17%+2 bps
Efficiency Ratio74.70%78.37%75.25%75.04%91.20%+1,650 bps
Non-Interest Burden2.86%3.08%3.08%3.03%3.73%+87 bps
Growth
Asset Growth (YoY)-2.61%-3.51%-6.02%-3.16%-4.85%-224 bps
Loan Growth (YoY)-1.62%-7.68%-12.68%-15.74%-17.10%-1,549 bps
Deposit Growth (YoY)-2.93%-1.22%-0.63%2.92%0.97%+390 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.71%-0.02%0.23%0.72%-0.03%-74 bps
Allowance / Loans0.90%1.00%1.12%1.00%1.01%+11 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 Capital14.13%15.01%15.88%16.22%16.54%+241 bps
Equity / Assets9.23%9.71%9.90%9.78%10.12%+88 bps
Liquidity & Funding
Loans / Deposits89.80%85.96%76.74%72.22%73.73%-1,608 bps
Liquid Assets / Assets0.10%0.11%0.11%0.10%0.10%0 bps
CRE / Total Capitaln/an/an/an/an/an/an/a