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City National Bank and Trust Company

Gloversville, NY · Cert 7075

FDIC

Q4 2005

$397.9MAssets
$197.9MLoans
$334.0MDeposits
$38.9MEquity
Loan mix
88%RE $81.6M11%C&I $10.3M1%Consumer $0.5MQ4 2004Q4 2005
Deposit mix
86%Interest-bearing $288.0M14%Noninterest $46.0MQ4 2004Q4 2005

NIM

4.84%Q4 ’034.67%Q4 ’044.94%Q4 ’05+2%-1%

Non-interest income vs. expense

2.31%Q4 ’032.38%Q4 ’042.72%Q4 ’05+6%+11%

Executive Summary

  • Earnings: ROA of 0.44%, down 48 bps year over year; NIM at 3.33%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.14%.
  • Funding: loans stand at 59.26% of deposits as of Q4 2005.

Financial Results

Return on Assets (quarter, annualized)

0.44%-48 bps YoY

Net Interest Margin (quarter, annualized)

3.33%-3 bps YoY

Efficiency Ratio (quarter, annualized)

71.22%+764 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ4 2004Q1 2005Q2 2005Q3 2005Q4 2005YoY ΔTrend
Earnings
Return on Assets0.93%1.11%0.22%1.04%0.44%-48 bps
Return on Equity10.47%12.36%2.46%11.08%4.58%-590 bps
Net Interest Margin3.36%3.35%3.30%3.31%3.33%-3 bps
Efficiency Ratio63.58%62.29%96.03%60.02%71.22%+764 bps
Non-Interest Burden2.04%1.96%3.18%1.83%2.26%+23 bps
Growth
Asset Growth (YoY)6.71%7.02%7.89%-7.79%-5.56%-1,227 bps
Loan Growth (YoY)10.11%12.22%14.91%8.65%4.96%-514 bps
Deposit Growth (YoY)7.48%10.73%11.40%-6.42%0.28%-721 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.55%0.09%0.05%0.11%0.14%-41 bps
Allowance / Loans1.24%1.21%1.18%1.20%1.22%-2 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 Capital15.52%15.86%15.43%16.28%16.91%+139 bps
Equity / Assets9.03%8.97%9.16%9.59%9.77%+74 bps
Liquidity & Funding
Loans / Deposits56.61%57.35%58.68%60.49%59.26%+265 bps
Liquid Assets / Assets1.89%2.34%2.25%1.85%1.86%-3 bps
CRE / Total Capitaln/an/an/an/an/an/an/a