Savannah Bancorp Reports 2.3 Percent Second Quarter EPS Increase and Declares Regular Quarterly Dividend


SAVANNAH, Ga., July 17, 2007 (PRIME NEWSWIRE) -- The Savannah Bancorp, Inc. (Nasdaq:SAVB) reported net income for the second quarter 2007 of $2,591,000, up 2.1 percent from $2,538,000 in the second quarter 2006. Net income per diluted share was 44 cents compared to 43 cents per diluted share in the second quarter of 2006, an increase of 2.3 percent. Second quarter 2007 earnings were up $280,000, or 12%, compared to first quarter 2007 earnings of $2,311,000. Prior period per share amounts have been restated to reflect the 5-for-4 stock split in December 2006.

Return on average equity was 14.94 percent, return on average assets was 1.23 percent and the efficiency ratio was 53.40 percent in the second quarter 2007.

Total assets increased 13 percent to $873 million at June 30, 2007, up $101 million from $772 million a year earlier. Loans, excluding loans held for sale, were $752 million compared to $657 million one year earlier, an increase of 14 percent. Deposits totaled $726 million and $642 million at June 30, 2007 and 2006, respectively, an increase of 13 percent.

John Helmken, President & CEO, said, "I am continually proud of the focus of our production teams, growing loans and deposits in excess of $95 million and $84 million, respectively, over the past year. During the current challenging interest rate and economic environment, it is a testament to the quality of our employees and customers that we have continued to produce above average loan growth while maintaining excellent credit quality. Our current and future success in growing our customer base, loans, deposits and the resulting earnings depends upon the retention and addition of exceptionally talented people who serve our customers well. We have been fortunate to enjoy a significant measure of success in these areas."

The Company continues to report nonperforming asset percentages and loan past dues that are better than industry averages. Nonperforming assets were $2,595,000 or 0.34 percent of total loans and other real estate at June 30, 2007 compared to $2,559,000 or 0.39 percent at June 30, 2006. Second quarter net credit losses were $98,000 for 2007 compared to net credit losses of $3,000 in the second quarter 2006. Provision for credit losses for the second quarter of 2007 was $395,000 compared to $360,000 for the second quarter of 2006. Net credit losses were $332,000 for the first six months of 2007 compared to net credit recoveries of $3,000 in the first six months of 2006. Provision for credit losses for the first six months of 2007 was $895,000 compared to $775,000 for the first six months of 2006.

For the first six months of 2007, net income was $4,902,000 versus $4,889,000 in the first six months of 2006. Earnings per diluted share were $0.83 in the first six months of 2007 and 2006. Return on average equity was 14.42 percent, return on average assets was 1.17 percent, net interest margin was 4.15 percent and the efficiency ratio was 54.58 percent in the first six months of 2007.

Net interest income increased 3.1 percent in the second quarter 2007 over the second quarter 2006. Second quarter net interest margin declined to 4.13 percent in 2007 from 4.51 percent in 2006 primarily due to higher funding costs. Noninterest income declined $86,000, or 7.9 percent in the first quarter of 2007 versus the same period in 2006 due to lower mortgage related income and lower service charges on deposit accounts. Noninterest expense increased $50,000 or 1.0 percent in the second quarter 2007 compared to the second quarter 2006. Higher personnel, occupancy, equipment and information technology costs were partially offset by lower other operating expenses.

Today, the Board of Directors approved a regular quarterly cash dividend of 12 cents per share payable on August 20, 2007 to shareholders of record on July 27, 2007.

The Savannah Bancorp, Inc. (SAVB), a bank holding company for The Savannah Bank, N.A., Bryan Bank & Trust (Richmond Hill, Georgia) and Harbourside Community Bank (Hilton Head Island, SC), is headquartered in Savannah, Georgia. SAVB began operations in 1990. Its primary businesses include deposit, credit, trust and mortgage origination services provided to local customers.

This press release may contain forward-looking statements as defined by federal securities law which involve significant risks and uncertainties. Actual results could differ materially from those contained in or implied by such statements for a variety of reasons including, but not limited to: changes in interest rates; changes in accounting principles, policies, or guidelines; significant changes in the economic scenario: significant changes in regulatory requirements; and significant changes in securities markets. The Savannah Bancorp, Inc. does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made. Any such statements are made in reliance on the safe harbor protections provided under the Private Securities Act of 1995.



              The Savannah Bancorp, Inc. and Subsidiaries
                  Second Quarter Financial Highlights
                        June 30, 2007 and 2006
                              (Unaudited)
                  ($ in thousands, except share data)
                              
                                                                  %
 Balance Sheet Data at June 30               2007        2006   Change
 ---------------------------------------------------------------------
 Total assets                            $872,664    $772,026       13
 Interest-earning assets                  829,589     734,420       13
 Loans                                    752,328     657,128       14
 Allowance for credit losses                9,517       8,591       11
 Non-accruing loans                         1,895       2,049     (7.5)
 Loans past due 90 days - accruing             44         510      (91)
 Other real estate owned                      656          --       --
 Deposits                                 726,013     642,393       13
 Interest-bearing liabilities             706,804     606,828       16
 Shareholders' equity                      70,025      61,018       15
 Allowance for credit losses to
  total loans                                1.27%       1.31%    (3.1)
 Nonperforming assets to total loans
  and OREO                                   0.34%       0.39%     (13)
 Loan to deposit ratio                     103.62%     102.29%     1.3
 Equity to assets                            8.02%       7.90%     1.5
 Tier 1 capital to risk-weighted
  assets                                    11.32%      11.47%    (1.3)
 Total capital to risk-weighted assets      12.57%      12.72%    (1.2)
 Book value per share (a)                $  12.00    $  10.60       13
 Outstanding shares (a)                     5,834       5,759      1.3
 Market value per share (a)              $  25.10    $  30.26      (17)
 ---------------------------------------------------------------------

 Performance Ratios for the Second Quarter
 ---------------------------------------------------------------------
 Net income                              $  2,591    $  2,538      2.1
 Return on average assets                    1.23%       1.33%    (7.5)
 Return on average equity                   14.94%      16.91%     (12)
 Net interest margin                         4.13%       4.51%    (8.4)
 Efficiency ratio                           53.40%      53.84%    (0.8)

 Per share data: (a)
 Net income - basic                      $   0.44    $   0.44       --
 Net income - diluted                    $   0.44    $   0.43      2.3
 Dividends                               $  0.120    $  0.112      7.1

 Average shares: (a)
 Basic                                      5,824       5,759      1.1
 Diluted                                    5,899       5,886      0.2
 ---------------------------------------------------------------------

 Performance Ratios for the First Six Months
 ---------------------------------------------------------------------
 Net income                              $  4,902    $  4,889      0.3
 Return on average assets                    1.17%       1.31%     (11)
 Return on average equity                   14.42%      16.53%     (13)
 Net interest margin                         4.15%       4.55%    (8.8)
 Efficiency ratio                           54.58%      54.16%     0.8

 Per share data: (a)
 Net income - basic                      $   0.84    $   0.85     (0.4)
 Net income - diluted                    $   0.83    $   0.83       --
 Dividends                               $  0.240    $  0.224      7.1

 Average shares: (a)
 Basic                                      5,803       5,759      0.8
 Diluted                                    5,895       5,890      0.1

 (a) Share and per share amounts have been restated to reflect the
     effect of a 5-for-4 stock split in December 2006.


             The Savannah Bancorp, Inc. and Subsidiaries
                     Consolidated Balance Sheets
                        June 30, 2007 and 2006
                             (Unaudited)
                 ($ in thousands, except share data)

                                                        June 30,
 ---------------------------------------------------------------------
                                                     2007         2006
 ---------------------------------------------------------------------
 Assets
 Cash and due from banks                         $ 23,093     $ 19,413
 Interest-bearing deposits                          8,777        4,400
 Federal funds sold                                 4,874       18,266
 ---------------------------------------------------------------------
   Cash and cash equivalents                       36,744       42,079
 Securities available for sale, at fair
  value (amortized cost of $64,379 in 2007
  and $52,268 in 2006)                             63,489       51,220
 Loans held for sale                                1,126        4,407
 Loans, net of allowance for credit losses
  of $9,517 in 2007 and $8,591 in 2006            742,811      648,537
 Premises and equipment, net                        6,198        5,714
 Other real estate owned                              656           --
 Bank-owned life insurance                          5,870        5,655
 Other assets                                      15,770       14,414
 ---------------------------------------------------------------------
     Total assets                                $872,664     $772,026
 =====================================================================

 Liabilities
 Deposits:
   Noninterest-bearing                           $ 89,098     $ 97,909
   Interest-bearing demand                        122,209       94,081
   Savings                                         18,627       18,540
   Money market                                   168,411      137,721
   Time deposits                                  327,668      294,142
 ---------------------------------------------------------------------
     Total deposits                               726,013      642,393
 Short-term borrowings                             56,437       36,560
 FHLB advances - long-term                          3,142       15,474
 Subordinated debt                                 10,310       10,310
 Other liabilities                                  6,737        6,271
 ---------------------------------------------------------------------
     Total liabilities                            802,639      711,008
 ---------------------------------------------------------------------

 Shareholders' equity
 Common stock, par value $1 per share:
  authorized 20,000,000 shares; issued
  5,833,860 and 4,607,647 shares in 2007
  and 2006, respectively                            5,834        4,608
 Preferred stock, par value $1 per share:
  authorized 10,000,000 shares, none issued            --           --
 Additional paid-in capital                        36,347       36,480
 Retained earnings                                 29,189       21,870
 Treasury stock, 318 and 267 shares in 2007
  and 2006, respectively                               (4)          (4)
 Accumulated other comprehensive loss, net         (1,341)      (1,936)
 ---------------------------------------------------------------------
     Total shareholders' equity                    70,025       61,018
 ---------------------------------------------------------------------
     Total liabilities and shareholders'
      equity                                     $872,664     $772,026
 =====================================================================


              The Savannah Bancorp, Inc. and Subsidiaries
                   Consolidated Statements of Income
            For the Six Months Ending June 30, 2007 and 2006
               ($ in thousands, except per share data)

 ----------------------------------------------------------------
                                         (Unaudited)
 ----------------------------------------------------------------
                                    For the Six Months Ended
 ----------------------------------------------------------------
                                             June 30,           %
                                        2007         2006      Chg
 ----------------------------------------------------------------
 Interest and dividend income
 Loans, including fees             $  29,224    $  24,269      20
 Loans held for sale                      69          441     (84)
 Investment securities                 1,346        1,068      26
 Deposits with banks                     201          102      97
 Federal funds sold                      296          275     7.6
 --------------------------------------------------------
   Total interest and dividend
    income                            31,136       26,155      19
 --------------------------------------------------------
 Interest expense
 Deposits                             12,571        8,336      51
 Short-term borrowings                 1,242          911      36
 FHLB advances                           319          444     (28)
 Subordinated debt                       416          389     6.9
 --------------------------------------------------------
   Total interest expense             14,548       10,080      44
 --------------------------------------------------------
 Net interest income                  16,588       16,075     3.2
 Provision for credit losses             895          775      15
 --------------------------------------------------------
 Net interest income after the
   provision for credit losses        15,693       15,300     2.6
 --------------------------------------------------------
 Noninterest income
 Service charges on deposits             695          753    (7.7)
 Mortgage related income, net            376          482     (22)
 Trust fees                              365          325      12
 Other operating income                  617          599     3.0
 --------------------------------------------------------
   Total noninterest income            2,053        2,159    (4.9)
 --------------------------------------------------------
 Noninterest expense
 Salaries and employee benefits        5,802        5,476     6.0
 Occupancy and equipment               1,540        1,397      10
 Information technology                  806          736      10
 Other operating expense               2,026        2,266     (11)
 --------------------------------------------------------
   Total noninterest expense          10,174        9,875     3.0
 --------------------------------------------------------
 Income before income taxes            7,572        7,584    (0.2)
 Income tax expense                    2,670        2,695    (0.9)
 --------------------------------------------------------
 Net income                        $   4,902    $   4,889     0.3
 ========================================================
 Net income per share: (a)
 Basic                             $     .84    $     .85    (1.2)
 ========================================================
 Diluted                           $     .83    $     .83      --
 ========================================================
 Average basic shares (000s) (a)       5,803        5,759     0.8
 Average diluted shares (000s) (a)     5,895        5,890     0.1

 Performance Ratios
 Return on average equity              14.42%       16.53%    (13)
 Return on average assets               1.17%        1.31%    (11)
 Net interest margin                    4.15%        4.55%   (8.8)
 Efficiency ratio                      54.58%       54.16%   (0.8)
 Average equity                       68,544       59,630      15
 Average assets                      845,071      750,955      13
 Average interest-earning assets     810,525      716,342      13


                 The Savannah Bancorp, Inc. and Subsidiaries
                     Consolidated Statements of Income
                For the Five Quarters Ending June 30, 2007 
 ---------------------------------------------------------------------
                                      (Unaudited)
 ---------------------------------------------------------------------
                          2007                   2006
                     ---------------- -------------------------- Q2-07/
                     Second    First   Fourth    Third   Second  Q2-06
                    Quarter  Quarter  Quarter  Quarter  Quarter    %
 ---------------------------------------------------------------------
 Interest and
  dividend income
 Loans, including
  fees             $ 14,872 $ 14,351 $ 14,063 $ 13,209 $ 12,548     19
 Loans held for
  sale                   35       34       52       64      233    (85)
 Investment
  securities            726      620      599      572      559     30
 Deposits with
  banks                 119       83      127       65       54    120
 Federal funds
  sold                  125      172      116      166      148    (16)
 --------------------------------------------------------------
   Total interest
    and dividend
    income           15,877   15,260   14,957   14,076   13,542     17
 --------------------------------------------------------------
 Interest expense
 Deposits             6,479    6,092    5,754    5,251    4,443     46
 Short-term
  borrowings            618      625      561      326      546     13
 FHLB advances          155      164      168      166      197    (21)
 Subordinated debt      213      203      214      214      200    6.5
 --------------------------------------------------------------
   Total interest
    expense           7,465    7,084    6,697    5,957    5,386     39
 --------------------------------------------------------------
 Net interest
  income              8,412    8,176    8,260    8,119    8,156    3.1
 Provision for
  credit losses         395      500      450      360      360    9.7
 --------------------------------------------------------------
 Net interest
  income after the
  provision for
  credit losses       8,017    7,676    7,810    7,759    7,796    2.8
 --------------------------------------------------------------
 Noninterest
  income
 Service charges
  on deposits           348      347      389      384      377   (7.7)
 Mortgage related
  income, net           166      210      200      203      252    (34)
 Trust fees             189      176      170      164      166     14
 Other operating
  income                297      319      331      305      291    2.1
 --------------------------------------------------------------
   Total noninterest
    income            1,000    1,052    1,090    1,056    1,086   (7.9)
 --------------------------------------------------------------
 Noninterest
  expense
 Salaries and
  employee benefits   2,838    2,964    2,659    2,717    2,785    1.9
 Occupancy and
  equipment             782      758      768      755      746    4.8
 Information
  technology            381      425      417      372      374    1.9
 Other operating
  expense             1,025    1,000    1,293    1,101    1,071   (4.3)
 --------------------------------------------------------------
   Total noninterest
    expense           5,026    5,147    5,137    4,945    4,976    1.0
 --------------------------------------------------------------
 Income before
  income taxes        3,991    3,581    3,763    3,870    3,906    2.2
 Income tax expense   1,400    1,270    1,240    1,280    1,368    2.3
 --------------------------------------------------------------
 Net income        $  2,591 $  2,311 $  2,523 $  2,590 $  2,538    2.1
 ==============================================================
 Net income per
  share: (a)
 Basic             $    .44 $    .40 $    .44 $    .45 $    .44     --
 ==============================================================
 Diluted           $    .44 $    .39 $    .43 $    .44 $    .43    2.3
 ==============================================================
 Average basic
  shares (000s) (a)   5,824    5,783    5,779    5,761    5,759    1.1
 Average diluted
  shares (000s) (a)   5,899    5,890    5,884    5,886    5,894    0.1

 Performance Ratios
 Return on average
  equity              14.94%   13.90%   15.33%   16.46%   16.91%   (12)
 Return on average
  assets               1.23%    1.12%    1.24%    1.34%    1.33%  (7.5)
 Net interest
  margin               4.13%    4.17%    4.26%    4.42%    4.51%  (8.4)
 Efficiency ratio     53.40%   55.78%   54.94%   53.90%   53.84%    .8
 Average equity      69,583   67,434   65,297   62,435   60,195     16
 Average assets     855,989  834,033  809,491  767,649  765,080     12
 Average
  interest-earning
  assets            821,253  799,678  772,192  732,405  729,101     13

 (a) Share and per share amounts have been restated to reflect the
     effect of a 5-for-4 stock split in December 2006.



                    The Savannah Bancorp, Inc. & Subsidiaries
                           Loan Concentration Schedule
                       June 30, 2007 and December 31, 2006

                                    % of              % of    % Dollar
 ($ in thousands)        6/30/07    Total  12/31/06   Total     Change
 ---------------------------------------------------------------------
 Non-residential real
  estate
  Owner-occupied        $113,298     15    $ 90,848      13       25
  Non owner-occupied      91,783     12      98,032      13       (6)
  Construction            25,333      3      22,128       3       14
  Commercial land and
   lot development        39,104      5      35,610       5       10
 -----------------------------------------------------------
 Total non-residential
  real estate            269,518     35     246,618      34        9
 -----------------------------------------------------------
 Residential real
  estate
  Owner-occupied -
   1-4 family             79,440     11      87,965      12      (10)
  Non owner-occupied -
   1-4 family            106,408     14  (a)101,397      14        5
  Construction            66,161      9  (a) 77,417      11      (15)
  Residential land and
   lot development       109,258     14      93,060      13       17
  Home equity lines       40,655      5      40,794       6        0
 -----------------------------------------------------------
 Total residential
  real estate            401,922     53     400,633      56        0
 -----------------------------------------------------------
 Total real estate
  loans                  671,440     89     647,251      90        4
 Commercial               61,898      8      57,740       8        7
 Consumer                 19,585      3      16,624       2       18
 Unearned fees, net         (599)    --        (693)     --      (14)
 -----------------------------------------------------------
 Total loans, net of
  unearned fees         $752,324    100    $720,922     100      4.4
 ===========================================================

 (a) -- includes a reclassification $33 million of completed 
 construction loans from the construction category to the non-owner 
 occupied 1-4 family category to conform to the June 30, 2007 
 presentation as required by regulatory guidelines.

During the first half of 2007, residential real estate loans have remained flat in total and non-residential real estate loans have increased by 9 percent. During 2006, decisions were made to de-emphasize construction loan growth as evidenced by the decline of 15 percent in the construction loan portfolio during 2007.

Commercial and residential land and lot development portfolios generally represent loans to experienced real estate developers and financially strong, long-term real estate investors who have the financial strength to service the debt during the slower real estate markets.



             The Savannah Bancorp, Inc. and Subsidiaries
           Average Balance Sheet and Rate/Volume Analysis -
                    Second Quarter, 2007 and 2006

                                               Taxable-Equivalent
  Average Balance  Average Rate                   Interest (a)
 ------------------------------                ------------------
      QTD       QTD   QTD   QTD                  QTD      QTD     Vari-
     2007      2006  2007  2006                 2007     2006     Ance
 ---------------------------------------------------------------------
 ($ in thousands)       (%)                   ($ in thousands)
                                Assets
                                Interest-bearing
 $  9,207  $  4,545  5.18  4.77  deposits     $  119  $    54  $    65
                                Investments
   56,757    48,609  5.01  4.35  - taxable       709      527      182
                                Investments
    2,060     2,500  7.79 11.39  - non-taxable    40       71      (31)
                                Federal funds
    9,408    12,188  5.33  4.87  sold            125      148      (23)
                                Loans held for
    2,063    13,394  6.80  6.98  sale             35      233     (198)
  741,758   647,865  8.05  7.77 Loans (b)     14,888   12,548    2,340
 ------------------                           ------------------------
                                Total interest-
                                 earning
  821,253   729,101  7.77  7.47  assets       15,916   13,581    2,335
                     ----------               ------------------------
                                Noninterest-
   34,736    35,979              earning assets
 ------------------
 $855,989  $765,080             Total assets
 ==================
                                Liabilities
                                 and equity
                                Deposits
 $120,092  $ 91,810  2.09  1.10  NOW accounts    625      252      373
                                 Savings
   18,799    19,901  1.02  1.01   accounts        48       50       (2)
                                 Money market
  162,397   129,841  4.41  3.52   accounts     1,784    1,138      646
                                 CDs, $100M or
  125,404   104,139  5.36  4.52   more         1,677    1,174      503
   68,149    78,931  4.78  3.70  CDs, broker     812      728       84
                                 Other time
  121,831   104,675  5.05  4.22   deposits     1,533    1,101      432
 ------------------                           ------------------------
                                Total interest-
                                 bearing
  616,672   529,297  4.21  3.37  deposits      6,479    4,443    2,036
                                FHLB advances
   12,095    15,904  5.14  4.97  - long term     155      197      (42)
                                Short-term
   48,122    43,962  5.14  4.98  borrowings      617      546       71
                                Subordinated
   10,310    10,310  8.33  7.78  debt            214      200       14
 ------------------                           ------------------------
                                Total interest-
                                 bearing
  687,199   599,473  4.36  3.60  liabilities   7,465    5,386    2,079
                     ----------               ------------------------
                                Noninterest-
   92,844    98,671              bearing deposits
    6,363     6,741             Other liabilities
   69,583    60,195             Shareholders' equity
 ------------------
                                Liabilities and
 $855,989  $765,080              equity
 ==================
                     3.41  3.87 Interest rate spread
                     ==========
                     4.13  4.51 Net interest margin
                     ==========
                                Net interest
                                 income       $8,451   $8,195  $   256
                                              ========================
 $134,054  $129,628             Net earning assets
 ==================
 $709,516  $627,968             Average deposits
 ==================
                                Average cost
                     3.66  2.84  of deposits
                     ==========
                                Average loan to
      105%      103%             deposit ratio
 ==================

 (a) The taxable equivalent adjustment results from tax exempt income
     less non-deductible TEFRA interest expense and was $39 in the
     second quarter 2007 and 2006.

 (b) Average nonaccruing loans have been excluded from total average
     loans and categorized in noninterest-earning assets.




             The Savannah Bancorp, Inc. and Subsidiaries
           Average Balance Sheet and Rate/Volume Analysis -
                    First Six Months 2007 and 2006

                                               Taxable-Equivalent
  Average Balance  Average Rate                   Interest (a)
 ------------------------------                ------------------
      YTD       YTD   YTD   YTD                     YTD     YTD  Vari-
     2007      2006  2007  2006                    2007    2006   Ance
 ---------------------------------------------------------------------
 ($ in thousands)       (%)                     ($ in thousands)
                                Assets
                                Interest-bearing
 $  7,710  $  4,458  5.26  4.61  deposits        $  201  $  102  $  99
                                Investments
   53,986    46,623  4.91  4.32  - taxable        1,314     998    316
                                Investments
    2,000     2,717  7.86 11.13  - non-taxable       78     150    (72)
   11,309    11,774  5.28  4.71 Federal funds sold  296     275     21
                                Loans held
    1,859    13,033  7.48  6.82  for sale            69     441   (372)
  733,661   637,737  8.04  7.67 Loans (b)        29,256  24,269  4,987
 ------------------                              ---------------------
                                Total interest-
  810,525   716,342  7.77  7.39  earning assets  31,214  26,235  4,979
                     ----------                  ---------------------
                                Noninterest-
   34,546    34,613              earning assets
 ------------------
 $845,071  $750,955             Total assets
 ==================

                                Liabilities
                                 and equity
                                Deposits
 $114,642  $ 90,116  2.05  1.08  NOW accounts     1,167     483    684
   18,596    19,890  1.01  0.99  Savings accounts    93      98     (5)
                                 Money market
  156,181   129,004  4.34  3.32   accounts        3,359   2,123  1,236
                                 CDs, $100M or
  121,312    98,089  5.30  4.33   more            3,189   2,106  1,083
   74,090    84,807  4.81  3.61  CDs, broker      1,768   1,519    249
                                 Other time
  120,588    99,546  5.01  4.07   deposits        2,995   2,007    988
 ------------------                              ---------------------
                                Total interest-
                                 bearing
  605,409   521,452  4.19  3.22  deposits        12,571   8,336  4,235
                                FHLB advances
   12,680    18,160  5.07  4.93  - long term        319     444   (125)
                                Short-term
   48,734    37,795  5.14  4.86  borrowings       1,242     911    331
   10,310    10,310  8.14  7.61 Subordinated debt   416     389     27
 ------------------                              ---------------------
                                Total interest-
                                 bearing
  677,133   587,717  4.33  3.46  liabilities     14,548  10,080  4,468
                     ----------                  ---------------------
                                Noninterest-
   92,988    96,050              bearing deposits
    6,406     7,558             Other liabilities
   68,544    59,630             Shareholders' equity
 ------------------
                                Liabilities
 $845,071  $750,955              and equity
 ==================
                     3.44  3.93 Interest rate spread
                     ==========
                     4.15  4.55 Net interest margin
                     ==========
                                Net interest
                                 income         $16,666 $16,155  $ 511
                                                ======================
 $133,392  $128,625             Net earning assets
 ==================
 $698,397  $617,502             Average deposits
 ==================
                                Average cost
                     3.63  2.72  of deposits
                     ==========
                                Average loan to
      105%      103%             deposit ratio
 ==================

 (a) The taxable equivalent adjustment results from tax exempt income
     less non-deductible TEFRA interest expense and was $78 and $80 in
     the first six months 2007 and 2006, respectively.

 (b) Average nonaccruing loans have been excluded from total average
     loans and categorized in noninterest-earning assets.


            

Mot-clé


Coordonnées