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Northern Neck State Bank

Warsaw, VA · Cert 9991

FDIC

Q3 2010

$342.0MAssets
$221.3MLoans
$294.4MDeposits
$33.3MEquity
Loan mix
96%RE $145.5M4%C&I $5.3M0%Consumer $0.2MQ3 2009Q3 2010
Deposit mix
90%Interest-bearing $264.2M10%Noninterest $30.1MQ3 2009Q3 2010

NIM

5.83%Q3 ’085.24%Q3 ’094.96%Q3 ’10-6%+17%

Non-interest income vs. expense

2.75%Q3 ’082.85%Q3 ’092.91%Q3 ’10+10%+7%

Executive Summary

  • Earnings: ROA of 0.95%, up 41 bps year over year; NIM at 3.70%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 0.02%.
  • Funding: loans stand at 75.20% of deposits as of Q3 2010.

Financial Results

Return on Assets (YTD, annualized)

0.95%+41 bps YoY

Net Interest Margin (YTD, annualized)

3.70%+54 bps YoY

Efficiency Ratio (YTD, annualized)

66.05%-630 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ3 2009Q4 2009Q1 2010Q2 2010Q3 2010YoY ΔTrend
Earnings
Return on Assets0.54%0.53%0.94%0.98%0.95%+41 bps
Return on Equity6.35%6.18%10.35%10.70%10.14%+379 bps
Net Interest Margin3.16%3.15%3.72%3.73%3.70%+54 bps
Efficiency Ratio72.35%71.70%68.14%65.71%66.05%-630 bps
Non-Interest Burden2.23%2.21%2.48%2.37%2.39%+15 bps
Growth
Asset Growth (YoY)4.00%1.59%-4.38%-2.99%-2.77%-677 bps
Loan Growth (YoY)-6.05%-9.76%-9.56%-7.19%-3.91%+214 bps
Deposit Growth (YoY)7.57%-0.03%-6.50%-4.64%-3.92%-1,149 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.09%0.71%-0.26%-0.07%-0.02%-11 bps
Allowance / Loans1.26%0.89%1.00%1.01%1.03%-23 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 Capital13.51%13.46%14.23%14.42%14.64%+113 bps
Equity / Assets8.85%8.75%9.36%9.50%9.73%+88 bps
Liquidity & Funding
Loans / Deposits75.19%72.65%75.11%75.23%75.20%0 bps
Liquid Assets / Assets0.05%0.11%0.04%0.10%0.06%+1 bps
CRE / Total Capitaln/an/an/an/an/an/an/a