Exhibit 99.1
Tri City Bankshares Corporation
Quarterly Brochure Financial Data
INCOME STATEMENT (unaudited)
Nine Months Ended Three Months Ended
| | | 9/30/2009 | | | 9/30/2008 | | | 9/30/2009 | | | 9/30/2008 | |
| Interest Income | | $ | 30,163,912 | | | $ | 32,833,935 | | | $ | 10,013,754 | | | $ | 10,678,406 | |
| Interest Expense | | | 5,182,386 | | | | 7,447,075 | | | | 1,686,515 | | | | 2,204,491 | |
| Net Interest Income | | | 24,981,526 | | | | 25,386,860 | | | | 8,327,239 | | | | 8,473,915 | |
| Other Income | | | 10,759,000 | | | | 9,682,416 | | | | 3,438,841 | | | | 3,104,360 | |
| Less: Other Operating Expenses | | | 24,526,179 | | | | 22,701,620 | | | | 8,354,757 | | | | 7,511,890 | |
| Income Before Income Taxes | | | 11,214,347 | | | | 12,367,656 | | | | 3,411,323 | | | | 4,066,385 | |
| Provision for Income Taxes | | | 3,905,000 | | | | 3,964,500 | | | | 1,171,000 | | | | 1,357,000 | |
| Net Income | | $ | 7,309,347 | | | $ | 8,403,156 | | | $ | 2,240,323 | | | $ | 2,709,385 | |
| Net Income Per Common Share | | $ | 0.82 | | | $ | 0.94 | | | $ | 0.25 | | | $ | 0.30 | |
BALANCE SHEET (unaudited) September 30, 2009 and 2008
Assets 2009 2008 Liabilities & Equity 2009 2008
| Cash and Due from Banks | | $ | 24,223,168 | | | $ | 22,884,080 | | Non Interest Bearing | | $ | 25,858,448 | | | $ | 133,073,925 | |
| Investment Securities | | | 117,510,645 | | | | 110,304,495 | | Interest Bearing | | | 552,327,029 | | | | 530,863,542 | |
| Federal Funds Sold | | | 10,610,388 | | | | 17,626,070 | | Total Deposits | | | 678,185,477 | | | | 663,937,467 | |
| Total Loans | | | 601,160,367 | | | | 593,061,779 | | Short Term Debt | | | 553,106 | | | | 2,508,248 | |
| Allowance for Loan Losses | | | (5,996,702 | ) | | | (5,989,952 | ) | Other Liabilities | | | 2,627,154 | | | | 2,862,487 | |
| Net Loans | | | 595,163,665 | | | | 587,071,827 | | Total Liabilities | | | 681,365,737 | | | | 669,308,202 | |
| Bank Premises & Equipment | | | 20,410,150 | | | | 21,238,410 | | Common Stock | | | 8,904,915 | | | | 8,904,915 | |
| Cash surrender value of life insurance | | | 11,424,408 | | | | 10,931,603 | | Additional Paid-In Capital | | | 26,543,470 | | | | 26,543,470 | |
| Other Assets | | | 11,055,838 | | | | 7,882,043 | | Retained Earnings | | | 73,584,140 | | | | 73,181,941 | |
| | | | | | | | | | Total Stockholders' Equity | | | 109,032,525 | | | | 108,630,326 | |
| Total Assets | | $ | 790,398,262 | | | $ | 777,938,528 | | Total Liabilities & Equity | | $ | 790,398,262 | | | $ | 777,938,528 | |
MANAGEMENT COMMENTS
The Corporation posted net income of $7,309,347 for the first nine months of 2009, a decrease of $1.1 million (13.0%) compared to the first nine months of 2008. Non-recurring income received in 2008 accounts for part of the decrease, the remainder of the decrease attributable to an increase in the provision for loan losses in 2009. Non-recurring income in 2008 included a tax exempt death benefit from bank owned life insurance in the amount of $606,600 and a gain on sale of VISA stock following the Visa IPO in the amount of $108,600. The provision for loan losses increased pre-tax expense $650,000 (after tax increase of $445,000) for the nine months ending September 30, 2009 compared to the same period in 2008.
Earnings per share (EPS) decreased $0.12 to $0.82 for the nine months ending September 30, 2009 compared to the same period in 2008. EPS excluding non-recurring items, decreased $0.04 for the nine months ended September 30, 2009 compared to the nine months ending September 30, 2008.
