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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

5.72%Q3 ’085.19%Q3 ’094.93%Q3 ’10-7%+15%

Non-interest income vs. expense

2.81%Q3 ’082.76%Q3 ’092.88%Q3 ’10+4%+14%

Executive Summary

  • Earnings: ROA of 0.87%, up 24 bps year over year; NIM at 3.69%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.10%.
  • Funding: loans stand at 75.20% of deposits as of Q3 2010.

Financial Results

Return on Assets (quarter, annualized)

0.87%+24 bps YoY

Net Interest Margin (quarter, annualized)

3.69%+47 bps YoY

Efficiency Ratio (quarter, annualized)

66.76%-206 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ3 2009Q4 2009Q1 2010Q2 2010Q3 2010YoY ΔTrend
Earnings
Return on Assets0.64%0.50%0.94%1.04%0.87%+24 bps
Return on Equity7.39%5.63%10.35%11.06%9.09%+171 bps
Net Interest Margin3.22%3.23%3.72%3.72%3.69%+47 bps
Efficiency Ratio68.82%69.81%68.14%63.30%66.76%-206 bps
Non-Interest Burden2.14%2.19%2.48%2.26%2.44%+30 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 / Loans0.11%2.55%-0.26%0.11%0.10%-1 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