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Letter portraitLegal landscapeQuarterYTD

National Bank of Vernon, The

Vernon, NY · Cert 7334

FDIC

Q1 2007

$62.0MAssets
$26.7MLoans
$54.7MDeposits
$6.6MEquity
Loan mix
85%RE $17.1M15%C&I $2.9M0%Consumer $0.1MQ1 2006Q1 2007
Deposit mix
79%Interest-bearing $43.4M21%Noninterest $11.3MQ1 2006Q1 2007

NIM

5.14%Q1 ’055.21%Q1 ’065.38%Q1 ’07-8%-9%

Non-interest income vs. expense

4.48%Q1 ’054.54%Q1 ’065.75%Q1 ’07-3%+19%

Executive Summary

  • Earnings: ROA of -0.73%, up 66 bps year over year; NIM at 3.44%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 0.03%.
  • Funding: loans stand at 48.82% of deposits as of Q1 2007.

Financial Results

Return on Assets (quarter, annualized)

-0.73%+66 bps YoY

Net Interest Margin (quarter, annualized)

3.44%-34 bps YoY

Efficiency Ratio (quarter, annualized)

125.14%+2,294 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ1 2006Q2 2006Q3 2006Q4 2006Q1 2007YoY ΔTrend
Earnings
Return on Assets-1.40%0.11%0.28%-0.20%-0.73%+66 bps
Return on Equity-12.58%1.04%2.66%-1.84%-6.83%+575 bps
Net Interest Margin3.78%3.67%3.71%3.53%3.44%-34 bps
Efficiency Ratio102.20%97.64%99.86%116.19%125.14%+2,294 bps
Non-Interest Burden3.87%3.57%3.70%4.21%4.59%+72 bps
Growth
Asset Growth (YoY)3.44%2.51%3.96%3.77%0.83%-261 bps
Loan Growth (YoY)-7.93%-10.57%-13.27%-14.06%-15.57%-763 bps
Deposit Growth (YoY)5.55%4.81%4.81%4.55%0.73%-482 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.71%1.40%-0.01%0.24%-0.03%-74 bps
Allowance / Loans3.38%3.15%3.05%3.14%3.28%-10 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 Capital22.08%22.59%22.93%23.96%23.82%+174 bps
Equity / Assets10.75%10.64%10.41%10.82%10.70%-5 bps
Liquidity & Funding
Loans / Deposits58.24%56.42%51.06%50.66%48.82%-942 bps
Liquid Assets / Assets3.03%2.95%2.62%2.61%2.51%-52 bps
CRE / Total Capitaln/an/an/an/an/an/an/a