Follow-on Offering of Common Stock
$75,000,000
July 2010
Ticker: VCBI
www.vcbonline.com
Free
Writing
Prospectus
Filed
pursuant
to
Rule
433
Registration
Statement
No.
333-167263
July
19,
2010

1
Cautionary
Note
Regarding
Forward-Looking
Statements
This presentation contains forward-looking statements within the meaning of the Securities and Exchange Act of 1934, as
amended, including statements of goals, intentions, and expectations as to future trends, plans, events or results of
Company operations and policies, including but not limited to the Company’s outlook on earnings and the sufficiency of
the allowance for loan losses, and statements regarding asset quality, projected growth, capital position, the Company’s
plans regarding non-performing assets, business opportunities in the Company’s markets, potential benefits of the
offering to which this presentation relates, and general economic conditions.  When the Company uses words such as
“may,”
“will,”
“anticipates,”
“believes,”
“expects,”
“plans,”
“estimates,”
“potential,”
“continue,”
“should,”
and similar
words or phrases, you should consider them as identifying forward-looking statements. These statements are based upon
current and anticipated economic conditions, nationally and in the Company’s market, interest rates and interest rate
policy, competitive factors and other conditions which by their nature, are not susceptible to accurate forecast and are
subject to significant uncertainty. Because of these uncertainties and the assumptions on which this presentation and the
forward-looking statements are based, actual future operations and results may differ materially from those indicated
herein. For a discussion of certain factors, risks and uncertainties which could cause actual future operations and results
to differ from estimates and projections discussed in these forward-looking statements, please read the section entitled
“Risk Factors”
in the prospectus supplement relating to the offering and the documents incorporated by reference therein. 
You should not place undue reliance on any such forward-looking statements. These forward-looking statements are not
guarantees of future performance, and the Company’s past results are not necessarily indicative of future performance.
The Company does not undertake to publicly revise or update forward-looking statements in this presentation to reflect
events or circumstances that arise after the date of this presentation, except as may be required under applicable law.
Free
Writing
Prospectus
Statement
The Company has filed a registration statement (including a prospectus and a related prospectus supplement) with the
SEC for the offering.  Before you invest, you should read the prospectus and the prospectus supplement contained in that
registration
statement
and
other
documents
the
Company
has
filed
with
the
SEC
for
more
complete
information
about
the
Company and the offering.  You may get these documents for free by visiting EDGAR on the SEC website at
www.sec.gov .  Alternatively, the Company, any underwriter, or any dealer pa rticipating in the offering will arrange to
send
you
the
prospectus
and
prospectus
supplement
if
you
request
them
by
calling
Sandler
O’Neill
&
Partners,
L.P.
toll
free at (866) 805-4128.

2
Offering Terms
Virginia Commerce Bancorp, Inc.
Virginia Commerce Bancorp, Inc.
Follow-on Public Offering
Follow-on Public Offering
Common Stock
Common Stock
$75,000,000
$75,000,000
VCBI / NASDAQ Global Select
VCBI / NASDAQ Global Select
15%
15%
General corporate purposes, including continued organic
growth; intend to repay TARP preferred stock at
appropriate time subject to receipt of required approvals
General corporate purposes, including continued organic
growth; intend to repay TARP preferred stock at
appropriate time subject to receipt of required approvals
Sandler O'Neill + Partners, L.P.
Sandler O'Neill + Partners, L.P.
Stifel Nicolaus Weisel
Stifel Nicolaus Weisel
Issuer:
Type of Offering:
Type of Security:
Gross Proceeds:
Ticker/Exchange:
Over-Allotment Option:
Use of Proceeds:
Sole Book -
Runner:
Co-Manager:

Summary Statistics –
June 30, 2010
Assets:
$2.8  Billion
Loans:
$2.3  Billion
Deposits:
$2.3  Billion
Tangible Common Equity
(1)
:
$166  Million
TARP Preferred:
$71.0  Million
Tangible Common Book Value per Share
(2)
:
$5.91
Shares Outstanding:
26,949,173
Headquarters:
Arlington, Virginia
Bank Branches:
28 Branches
Market Capitalization (at July 15, 2010):
$186.5  Million
Insider Ownership:
25.2%
Member of Russell 3000:
Yes
3
NOTE:  Unaudited data at June 30, 2010 unless otherwise noted.
(1)
Calculation of Tangible Common Equity deducts the outstanding TARP preferred stock.  
(2)
Calculation of Tangible Book Value per Share deducts the liquidation amount of TARP.  
See appendix at page 33 for a reconciliation of non-GAAP financial measures.

Virginia Commerce Bank Locations
Headquarters
Branches
Wealth Management
Residential Mortgage
Branches by County/City:
Alexandria
5
Arlington
3
Fairfax
10
Falls Church
1
Fredericksburg
2
Loudoun
3
Manassas
2
Prince William
2
Total Branches
28
Residential Mortgage
1
Wealth Management
1
Total Offices
30
4

Experienced Senior Management Team 
Years
Years
in
with
Name
Title/Function
Banking
VCBI
Peter A. Converse
Chief Executive Officer
36
17
Richard B. Anderson, Jr.
EVP and Chief Lending Officer
33
14
William K. Beauchesne
EVP and CFO/COO
34
15
Steven A. Reeder
EVP and Chief Deposit Officer
21
5
Patricia M. Ostrander
EVP and Chief Administrative Officer
21
16
Dennis M. Coombe
EVP and Chief Credit Officer
38
1
5

Strategic Plan
Continue to improve asset quality
Re-engage growth engine
Expand C&I team with experienced bankers and potential “team lift-outs”
Continue to develop low cost deposits through relationship banking
Maintain strong net interest margin
Enhance non-interest income sources
Maintain expense control and low efficiency ratio
De novo branching to “fill in”
footprint and expand market share
Pay off TARP when appropriate
Drive profitability and stock price
6

Key Financial Attributes
VCBI
Peers
(¹)
6/30/2010
3/31/2010
3/31/2010
Growth Rates
(CAGR from 2000)
Loan Growth
23.47%
24.27%
12.00%
Deposit Growth
23.53%
24.15%
10.13%
Key Ratios
(Data is Quarterly)
Net Interest Margin
3.89%
3.79%
3.66%
Efficiency Ratio
(2)
50.28%
54.23%
65.03%
Non-Interest Expense/Average Assets
1.95%
1.99%
2.82%
NPAs
+ 90D Past Due/Assets
3.24%
3.88%
1.93%
Allowance Loan Losses/Gross Loans
2.77%
2.75%
1.41%
Reserves/NPLs
95.71%
75.60%
64.93%
Tangible Common Equity/Tangible Assets
(3)
5.86%
5.70%
7.33%
7
(1) Includes public banks/bank holding companies in PA, DE, VA, MD, DC, WV, NJ with assets of $1.0 billion to $5.0 billion. Source of Peer Data: SNL Financial
(2) See appendix page 34 for a reconciliation of non-GAAP financial measures, explaining the VCBI Adjusted Method for calculation of the efficiency ratio.  
(3) See appendix page 33 for a reconciliation of non-GAAP financial measures, explaining the VCBI Unadjusted Method for calculation of 
Tangible common equity/Tangible assets.

Consistent Balance Sheet Growth
NOTE: Includes public banks and bank holding companies in PA, DE, VA, MD, DC, WV, and NJ with assets of $1.0 billion to $5.0 billion
Source of Peer Data:  SNL Financial
Dollars in millions
Total Assets ($mm)
$0
$250
$500
$750
$1,000
$1,250
$1,500
$1,750
$2,000
$2,250
$2,500
$2,750
$3,000
8
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
3/31/10
6/30/10
Total
($mm)
$371
$490
$663
$882
$1,139
$1,518
$1,949
$2,340
$2,716
$2,725
$2,803
$2,827
2000-6/30/2010 CAGR
VCBI: 23.8%
2000-3/31/2010 CAGR
VCBI: 24.4%
Peers: 11.0%
Assets

9
Pre-Tax,
Pre-Provision
Earnings
1
NOTE:  Dollars in thousands
¹
Net
interest
income,
non-interest
income,
non-interest
expense
net
of
credit-related
expenses, provision for contingent liability, and securities impairment charges.
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
LTM
3/31/2010
LTM
6/30/2010
Pre-Tax, Pre Provision
Earnings ($000)
$5,878
$8,615
$13,247
$19,001
$24,619
$33,877
$41,839
$43,733
$44,693
$44,917
$47,818
$51,596
$0
$5,000
$10,000
$15,000
$20,000
$25,000
$30,000
$35,000
$40,000
$45,000
$50,000
$55,000

10
Pre-Tax,
Pre-Provision
Earnings
1
-
Quarterly
6/30/07
9/30/07
12/31/07
3/31/08
6/30/08
9/30/08
12/31/08
3/31/09
6/30/09
9/30/09
12/31/09
3/31/10
6/30/10
Pre-Tax Income
$10,434
$10,291
$8,379
$6,192
$7,581
$3,948
$1,594
($3,836)
($8,060)
($46,091)
$6,258
$6,478
$8,321
Provision
300
910
2,770
4,112
3,656
8,300
9,310
13,390
18,423
49,000
1,100
4,238
4,200
OREO Loss
0
0
0
0
0
0
0
0
0
9,085
867
918
1,060
Contingent Liability
0
0
0
0
0
0
0
0
0
0
2,960
0
0
Impairment on Securities
0
0
0
0
0
0
0
30
108
280
1,403
851
668
Pre-Tax, Pre-Provision Income
$10,734
$11,201
$11,149
$10,304
$11,237
$12,248
$10,904
$9,584
$10,471
$12,274
$12,588
$12,485
$14,249
$8,000
$9,000
$10,000
$11,000
$12,000
$13,000
$14,000
$15,000
NOTE:  Dollars in thousands
¹
Net
interest
income,
non-interest
income,
non-interest
expense
net
of
credit-related
expenses, provision for contingent liability, and securities impairment charges.

Strong Net Interest Margin
NOTE: Peer data includes public banks/bank holding companies in PA, DE, VA, MD, DC, WV, NJ with assets of $1.0 billion to $5.0 billion.
Source of Peer Data: SNL Financial. 
VCBI
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
QTR
3/31/10
QTR
6/30/10
Net Interest
Margin
4.54%
4.23%
4.48%
4.30%
4.23%
4.30%
4.07%
3.65%
3.30%
3.45%
3.79%
3.89%
Peer Data
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
QTR
3/31/10
Net Interest
Margin
4.32%
4.17%
4.21%
3.98%
3.86%
4.03%
3.97%
3.80%
3.79%
3.66%
3.66%
Net Interest Margin
0.00%
0.50%
1.00%
1.50%
2.00%
2.50%
3.00%
3.50%
4.00%
4.50%
5.00%
11

12
Efficiency Ratio
NOTE:
Includes
public
banks
and
bank
holding
companies
in
PA,
DE,
VA,
MD,
DC,
WV,
and
NJ
with
assets
of
$1.0
billion
to
$5.0
billion.
Source
of
Peer
Data:
SNL
Financial
See
appendix
page
34
for
a
reconciliation
of
non-GAAP
financial
measures,
explaining
the
VCBI
Adjusted
Method
for
calculation
of
the
efficiency
ratio.
VCBI
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
QTRA
3/31/10
QTRA
6/30/10
Efficiency
Ratio
64.4%
61.8%
56.5%
52.3%
48.1%
46.5%
45.0%
47.8%
50.1%
55.6%
54.2%
50.3%
NIE / AA
3.27%
3.16%
2.95%
2.66%
2.23%
2.18%
1.96%
1.86%
1.73%
2.08%
1.99%
1.95%
Peers
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
QTRA
3/31/10
NIE / AA
3.03%
2.96%
2.95%
2.86%
2.91%
2.89%
2.87%
2.88%
2.96%
2.85%
2.82%
40.0%
45.0%
50.0%
55.0%
60.0%
65.0%
1.50%
1.70%
1.90%
2.10%
2.30%
2.50%
2.70%
2.90%
3.10%
3.30%
3.50%
VCBI Efficiency Ratio
VCBI NIE / AA

Potential Earnings Enhancements
Reduce FDIC Insurance Premiums
•
23bps currently  
approx $5.3 million
•
Could improve to 15 bps  
approx $3.4 million
Estimated after-tax savings = $1.3 million
Payoff TARP
•
Dividend savings = $3.6 million
•
Discount amortization savings = $1.5 million
Total savings = $5.1 million
Credit Related Costs (consultants, fees, etc.)
•
Legal = $1.0 million
•
Consultants = $350 thousand
•
OREO expense = $1.7 million
Estimated after-tax savings = $2.0 million
13
Estimated After-Tax Savings = $8.4 million

Non-interest bearing checking accounts = 11.0% of Total Deposits
CDs = 37.4% of Total Deposits
Cost of Deposits for the six months ended June 30, 2010 = 1.58%
Deposit Composition
NOTE: Dollars in thousands
June 30, 2010
As % of
Cost of
Deposit Type
Deposits
Deposits
Deposits
Non-Interest Bearing
$254,475
11.0%
0.00%
Interest Bearing Transaction
370,078
16.0%
1.01%
Savings & Money Market
824,907
35.6%
1.55%
Total Demand and Savings
1,449,460
62.6%
1.14%
CDs, $100,000 or More
276,235
11.9%
2.52%
CDs, Less than $100,000
380,707
16.5%
2.55%
CDARS
147,622
6.4%
1.52%
Brokered CDs
60,062
2.6%
0.84%
Total CDs
864,626
37.4%
2.25%
Total Deposits
$2,314,086
100.0%
1.58%
Customer Repos
$108,456
0.60%
Brokered CDs
2.6%
CDARS
6.4%
Interest
Bearing
Transaction
16.0%
Non-Interest
Bearing
11.0%
Savings &
Money Market
35.6%
CDs, $100,000
or More
11.9%
CDs, Less than
$100,000
16.5%
14

Focus on acquisition and retention of non-interest bearing deposits and C&I loans with
coordinated and high-touch calling efforts by our sales force
8 Business Development Officers (BDOs) each lead a geographically-defined sales team
comprised of commercial lenders, mortgage lenders and branch managers in their
respective markets
BDOs and lenders also organized into teams focused on our “Big 7”
industry sectors,
including: government contracting, medical practices, professional practices, trade and
professional associations, property management/community associations, churches and
title companies
BDOs lead the Bank’s 6 Boards of Advisors comprised of “movers and shakers”
in each
of our Northern Virginia markets to enhance the Bank’s visibility in each community
and provide market feedback and business leads
Incentive plans integrated with strategic objectives to increase
core deposits --
with an
emphasis on non-interest bearing commercial operating funds --
and to expand the C&I
loan portfolio
Focus on relationships to increase customer wallet share and take market share from
regional/money center banks
Reduce reliance on CD funding
Relationship Banking Growth Strategy
15

Demand Deposit Growth
NOTE: Dollars in thousands
CAGR
% of
% of
% of
% of
2007 -
Deposits
Deposits
Deposits
Deposits
Deposits
Deposits
Deposits
Deposits
June 2010
Non-Interest Bearing
$213,820
11.44%
$194,791
8.97%
$239,604
10.75%
$254,475
11.00%
7.21%
Interest Bearing Transaction
156,946
8.40%
176,484
8.12%
262,071
11.76%
370,078
15.99%
40.93%
Savings & Money Market
360,219
19.27%
341,570
15.73%
723,081
32.43%
824,907
35.65%
39.29%
Total Demand and Savings
730,985
39.11%
712,845
32.82%
1,224,756
54.94%
1,449,460
62.64%
31.50%
CDs, $100,000 or More
572,485
30.63%
412,818
19.00%
298,567
13.39%
276,235
11.94%
-25.29%
CDs, Less than $100,000
442,886
23.69%
510,648
23.51%
417,875
18.74%
380,707
16.45%
-5.87%
CDARS
73,456
3.93%
367,523
16.92%
238,047
10.68%
147,622
6.38%
32.21%
Brokered CDs
49,353
2.64%
168,308
7.75%
50,082
2.25%
60,062
2.59%
8.17%
Total CDs
1,138,180
60.89%
1,459,297
67.18%
1,004,571
45.06%
864,626
37.36%
-10.41%
Total Deposits
$1,869,165
100.00%
$2,172,142
100.00%
$2,229,327
100.00%
$2,314,086
100.00%
8.92%
12/31/2007
6/30/2010
12/31/2009
12/31/2008
5,500
5,600
5,700
5,800
5,900
6,000
6,100
6,200
# of Commercial DDAs
5,553
5,615
5,666
5,833
5,921
6,023
6,085
Q4 '08
Q1 '09
Q2 '09
Q3 '09
Q4 '09
Q1 '10
Q2 '10
16

17
Deposit Market Share
Source:  FDIC data as of June 30, 2009, then adjusted for M&A activity through June 13, 2010
NOTE:  Companies shaded in gray denote those companies headquartered outside of Washington DC, Maryland or Virginia. 
Data excludes:  E* Trade Financial Corp. and UNIFI Mutual Holding Company whose deposits are substantially from outside of the defined market area.
*  NORTHERN
VIRGINIA:
Arlington,
Alexandria,
Fairfax,
Fairfax
(City),
Falls
Church,
Loudoun,
Prince
William,
Manassas,
Manassas
Park,
Fauquier,
Fredericksburg
(City),
Stafford,
Spotsylvania
Counties
NOTE: Dollars in thousands
Deposit
Market
Share
-
NORTHERN
VIRGINIA *
Branches
in
Rank
Ticker
Company Name
City
State
List
Balance
%
Balance
%
1
COF
Capital One Financial Corp.
McLean
VA
124
$20,386,346
30.84%
$13,037,265
23.84%
2
WFC
Wells Fargo & Co.
San Francisco
CA
164
9,024,703
13.65
8,195,776
14.98
3
BBT
BB&T Corp.
Winston-Salem
NC
162
7,957,317
12.04
6,402,381
11.70
4
BAC
Bank of America Corp.
Charlotte
NC
85
6,317,657
9.56
4,827,485
8.83
5
STI
SunTrust Banks Inc.
Atlanta
GA
108
5,385,361
8.15
4,391,867
8.03
6
VCBI
Virginia Commerce Bancorp Inc.
Arlington
VA
28
2,191,741
3.32
902,316
1.65
7
PNC
PNC Financial Services Group
Pittsburgh
PA
93
1,871,019
2.83
3,922,589
7.17
8
BHRB
Burke & Herbert Bank & Trust
Alexandria
VA
22
1,476,080
2.23
1,094,916
2.00
9
UBSI
United Bankshares
Inc.
Charleston
WV
37
1,306,785
1.98
1,203,166
2.20
10
CFNL
Cardinal Financial Corp.
McLean
VA
25
1,195,028
1.81
599,576
1.10
11
C
Citigroup Inc.
New York
NY
12
1,094,417
1.65
6,323,821
11.56
12
TD
Toronto-Dominion Bank
Toronto
NA
18
985,764
1.49
0
0.00
13
MBRG
Middleburg Financial Corp.
Middleburg
VA
10
838,366
1.27
418,013
0.76
14
MTB
M&T Bank Corp.
Buffalo
NY
72
667,098
1.01
476,588
0.87
15
UBSH
Union First Market Bkshs
Corp.
Richmond
VA
21
598,113
0.90
468,199
0.86
16
ANCX
Access National Corp.
Reston
VA
5
544,911
0.82
247,959
0.45
17
ABVA
Alliance Bankshares
Corp.
Chantilly
VA
7
516,585
0.78
388,489
0.71
18
HSBA
HSBC Holdings plc
London
NA
6
446,046
0.67
0
0.00
19
FBSS
Fauquier Bankshares
Inc.
Warrenton
VA
10
412,892
0.62
359,591
0.66
20
SONA
Southern National Bncp
of VA
McLean
VA
10
241,660
0.37
207,425
0.38
21
VGBK
Virginia Heritage Bank
Fairfax
VA
4
216,876
0.33
0
0.00
22
UFBC
United Financial Banking Co.
Vienna
VA
8
216,122
0.33
135,633
0.25
23
SASR
Sandy Spring Bancorp Inc.
Olney
MD
6
213,638
0.32
169,604
0.31
24
MBVA
Millennium Bankshares
Corp.
Sterling
VA
5
188,510
0.29
229,721
0.42
25
CARE
Carter Bank & Trust
Martinsville
VA
13
160,231
0.24
219,835
0.40
All Others
73
1,653,233
2.50
475,633
0.87
TOTAL
1,128
$66,106,499
100.00%
$54,697,848
100.00%
CAGR ('04 -
'09):  Northern Virginia
3.86%
CAGR ('04 -
'09):  VCBI
19.42%
Headquarters
Deposit Market Share
June 30, 2009
Deposit Market Share
June 30, 2004

18
Loan Portfolio Composition
6/30/2010  Loan Portfolio
Gross Loans: $2.3 Billion
NOTE:  June 30, 2010data  is unaudited
12/31/2007  Loan Portfolio
Gross Loans:  $2.0 Billion
Multifamily
2.92%
1-4 Family
9.15%
Commercial
12.22%
Farmland
0.08%
C&D
27.88%
CRE: Non-Owner
Occupied
24.55%
CRE: Owner
Occupied
18.23%
Consumer
0.45%
HELOCs
4.52%
HELOCs
6.01%
Consumer
0.44%
CRE: Owner
Occupied
21.43%
CRE: Non-Owner
Occupied
29.19%
C&D
16.81%
Farmland
0.10%
Commercial
9.66%
1-4 Family
12.60%
Multifamily
3.75%

19
Geographic Detail of CRE and ADC Loans
NOTE:  Unaudited data at June 30, 2010; Dollars in thousands
Non-Accrual
Loans at June 30, 2010
Percent of
Loans/
Residential
Commercial
Total
Non-Accrual
Total
Counties
ADC
ADC
CRE
Total
CRE/ADC
Loans
Loans
WASHINGTON, DC
Washington, DC
$4,523
$16,611
$76,241
$97,375
6.41%
$0
0.00%
MARYLAND
Montgomery
$6,459
$1,385
$36,032
$43,876
2.89%
$12,732
0.56%
Prince George's
21,830
12,175
59,064
93,069
6.12%
2,518
0.11%
Other
5,081
9,447
47,499
62,027
4.08%
0
0.00%
Total Maryland
33,370
23,007
142,595
198,972
13.09%
15,250
0.67%
VIRGINIA
Arlington/Alexandria
$36,958
$9,312
$182,539
$228,809
15.05%
$7,614
0.34%
Fairfax
48,462
20,994
275,441
344,897
22.69%
4,301
0.19%
Culpeper/Fauquier
4,453
3,020
6,189
13,662
0.90%
3,368
0.15%
Frederick
6,281
0
6,347
12,628
0.83%
6,250
0.28%
Henrico
0
833
30,860
31,693
2.09%
1,500
0.07%
Loudoun
27,784
32,749
111,867
172,400
11.34%
6,195
0.27%
Prince William
7,294
37,730
198,419
243,443
16.02%
4,528
0.20%
Spotsylvania
562
2,698
19,951
23,211
1.53%
0
0.00%
Stafford
22,684
30,026
21,950
74,660
4.91%
4,899
0.22%
Other
6,217
1,562
58,468
66,247
4.36%
226
0.01%
Total Virginia
160,695
138,924
912,031
1,211,650
79.72%
38,881
1.73%
OUTSIDE VA, MD and DC
Other
$1,166
$650
$10,122
$11,938
0.79%
$0
0.00%
TOTAL
$199,754
$179,192
$1,140,989
$1,519,935
100.00%
$54,131
2.40%

Credit Quality
NOTE:  Unaudited data at June 30, 2010; Dollars in thousands.
Loan
Percent of
Non-Performing Assets
NPLs/
Net
Portfolio
Total
Non-Accrual
90 Days
Total
Charge-Offs
6/30/2010
Loans
Loans
Past Due
Total
Loans
TDRs
YTD
Commercial & Industrial
$217,859
9.66%
$5,346
$264
$5,610
0.24%
$11,815
$3,748
Commercial Real Estate:
Owner Occupied
483,032
21.43%
8,045
0
8,045
0.35%
0
1,273
Non-owner occupied
657,957
29.19%
8,298
0
8,298
0.37%
31,193
1,336
Total Commercial Real Estate
1,140,989
50.62%
16,343
0
16,343
0.72%
31,193
2,609
Multifamily
84,453
3.75%
0
0
0
0.00%
0
0
Residential Mortgage
284,118
12.60%
4,369
280
4,649
0.21%
5,330
2,249
Construction:
Commercial
179,192
7.95%
6,911
0
6,911
0.31%
36,074
(283)
Residential-Owner Occupied
16,792
0.74%
0
0
0
0.00%
0
116
Residential-Builder
182,962
8.12%
30,877
0
30,877
1.37%
12,504
2,581
Total Construction
378,946
16.81%
37,788
0
37,788
1.68%
48,578
2,414
Home Equity
135,508
6.01%
630
0
630
0.03%
0
88
Other
12,268
0.55%
122
0
122
0.01%
60
138
Total Loans
2,254,141
100.00%
$64,598
$544
65,142
2.89%
$96,976
$11,246
Less: Unearned Income
3,884
OREO
26,477
Less: Allowance for Loan Losses
62,345
Total NPAs
$91,619
Net Loans
$2,187,912
Reserves / NPLs
95.71%
20

21
Credit Quality Trends
NPAs declined by 43.5% since peak in March 31, 2009
Reserve coverage improved to 96% of NPLs
(1)
Does
not
include
TDRs
NOTE:  Dollars in thousands
Data at or for the Quarter Ended
12/31/07
03/31/08
06/30/08
09/30/08
12/31/08
03/31/09
06/30/09
09/30/09
12/31/09
03/31/10
06/30/10
30-89 Days Past Due
$2,475
$18,264
$41,095
$16,426
$42,235
$55,730
$19,243
$30,877
$4,722
$13,501
$10,343
Nonperforming Assets:
Nonaccrual
$3,826
$17,480
$34,184
$71,678
$111,234
$125,814
$106,136
$85,193
$65,809
$82,232
$64,598
90 or More Days Past Due
579
2,000
3,641
7,581
6,118
23,790
5,232
1,905
3,826
318
544
Other Real Estate Owned
-
5,720
6,091
6,002
7,569
12,455
28,198
36,402
28,499
26,269
26,477
Total Nonperforming Assets
$4,405
$25,200
$43,916
$85,261
$124,921
$162,059
$139,566
$123,500
$98,134
$108,819
$91,619
NPAs+90 Days Past Due/Assets
(1)
0.19%
1.01%
1.65%
3.20%
4.60%
5.84%
5.17%
4.52%
3.60%
3.88%
3.24%
TDRs
$0
$0
$0
$0
$0
$0
$31,787
$37,425
$71,885
$80,993
$96,976
Reserves Ratios:
$22,260
$25,426
$26,103
$32,634
$36,475
$37,494
$38,978
$70,114
$65,152
$62,407
$62,345
Reserves/Loans
1.14%
1.20%
1.18%
1.44%
1.58%
1.64%
1.72%
3.15%
2.86%
2.75%
2.77%
Reserves/NPLs
505.3%
130.5%
69.0%
41.2%
31.1%
25.1%
35.0%
80.5%
93.6%
75.6%
95.7%
NCOs/Average Loans
0.01%
0.05%
0.14%
0.08%
0.24%
0.53%
0.74%
0.79%
0.27%
0.31%
0.19%

22
Overview of TDRs
TDRs split into “Permanent”
or “Reviewable”
TDRs
•
Permanent TDRs:
-
Are loans that have been restructured and include a permanent rate reduction
-
Could include temporary interest only modification, partial deferral of interest or principal, extension of term
-
Remain on TDR status until loan is paid off
•
Reviewable TDRs
-
Are loans that have been restructured at or will return to a market rate of interest
-
Could include temporary interest only modification, partial deferral of interest or principal, extension of term
-
Are moved to performing status upon six months of on-time payments following its return to a market rate of
interest,
but only in the fiscal year following the year in which the loan was restructured
•
All TDRs are performing loans on accrual
Overview of TDRs
•
43 loans have been restructured with $97.0 million in aggregate balances
•
88% of TDRs
were performing prior to restructuring
•
Restructurings by type: 
-
reduction of  interest rate = 20 loans
-
conversion to interest only loan = 1 loan
-
extension of term = 2 loans
-
deferment of interest or principal = 4 loans
-
combination of the above = 16 loans
•
Only 8 relationships with an aggregate of $7.1 million in balances have migrated to NPL since restructuring
NOTE:  Unaudited data at June 30, 2010.

23
TDR Trends
NOTE:  Unaudited data as of June 30, 2010.  Dollars in thousands.
Reviewable TDRs
Permanent TDRs
Total TDRs
As % of
As % of
As % of
Eligibility Date
# of
Reviewable
# of
Permanent
# of
Total
for Upgrade
Loans
Balance
TDRs
Maturity Date
Loans
Balance
TDRs
Quarter
Loans
Balance
TDRs
3Q2010
2
$2,468
4.5%
3Q2010
0
$0
0.0%
3Q2010
2
$2,468
2.5%
4Q2010
1
2,844
5.2%
4Q2010
1
$800
1.9%
4Q2010
2
$3,644
3.8%
1Q2011
9
8,403
15.2%
1Q2011
0
0
0.0%
1Q2011
9
8,403
8.7%
2Q2011
3
1,252
2.3%
2Q2011
3
15,888
38.0%
2Q2011
6
17,140
17.7%
3Q2011
5
21,761
39.4%
3Q2011
1
1,986
4.8%
3Q2011
6
23,747
24.5%
4Q2011
3
1,477
2.7%
4Q2011
0
0
0.0%
4Q2011
3
1,477
1.5%
1Q2012
2
923
1.7%
1Q2012
0
0
0.0%
1Q2012
2
923
1.0%
2Q2012
1
16,000
29.0%
2Q2012
2
4
0.0%
2Q2012
3
16,004
16.5%
3Q2012
1
68
0.1%
3Q2012
0
0
0.0%
3Q2012
1
68
0.1%
4Q2012
0
0
0.0%
4Q2012
3
9,382
22.5%
4Q2012
3
9,382
9.7%
2013 and Later
6
13,719
32.8%
2013 and Later
6
13,719
14.1%
Total
27
$55,196
100.0%
Total
16
$41,780
100.0%
Total
43
$96,976
100.0%
Permanent TDRs
Reviewable TDRs
Total TDRs
# of
As % of
# of
As % of
# of
As % of
Loan Type
Loans
Balance
TDRs
Loans
Balance
TDRs
Loans
Balance
TDRs
Residential
Construction
-
Owner
Occupied
0
$0
0.0%
0
$0
0.0%
0
$0
0.0%
Residential
Construction
-
Builder
4
10,036
10.3%
2
2,468
2.5%
6
12,504
12.9%
Commercial Construction/Farmland
3
20,074
20.7%
1
16,000
16.5%
4
36,074
37.2%
Residential Real Estate
0
0
0.0%
11
5,330
5.5%
11
5,330
5.5%
Multifamily
0
0
0.0%
0
0
0.0%
0
0
0.0%
Commercial Real Estate
2
5,142
5.3%
7
26,051
26.9%
9
31,193
32.2%
Commercial & Industrial
3
6,500
6.7%
5
5,315
5.5%
8
11,815
12.2%
Installment/Personal
4
28
0.0%
1
32
0.0%
5
60
0.1%
Total
16
$41,780
43.1%
27
$55,196
56.9%
43
$96,976
100.0%

Third Party Loan Review
VCBI engaged an independent, third party loan review firm
Reviewed 287 loans with aggregate balances of $1.1 billion; 51% of gross loans at April 30, 2010
Covered all loans over $2.5 million and all loans that were Past
Due, on the Watch List, TDRs, and on
Nonaccrual
Conclusions:
•
11 loans were downgraded and 2 were upgraded
•
Reviewed $82.3 million of TDRs
and nonaccrual loans and found the treatment of TDR and/or
nonaccrual loans to be prudent and within accepted parameters
•
Reviewer deems the reserve methodology to be credible and reasonable.  Therefore, the adequacy of
the reserve is supportable and believed to be capable of absorbing near term loan losses.
24

25
SCAP Analysis
(1) Loss rates sourced from the Federal Reserve
(2) Represents 8 quarters of Pre-Tax, Pre-Provision Net Revenue at Q2 2010 levels
(3) Assumes 20% risk weighting on new capital
Source: Federal Reserve.  Dollars in thousands.
Balance as of 6/30/10
SCAP Losses
Loss Rates (%)
¹
Potential Losses
Loan Type
Balance
(%)
Base
Severe
Base
Severe
Commercial & Industrial
217,859
9.66
3.50
6.50
7,625
14,161
CRE
Nonfarm, Non-residential
1,140,989
50.62
4.50
8.00
51,345
91,279
Construction & Development
378,946
16.81
10.00
16.50
37,895
62,526
Multifamily
84,453
3.75
5.00
10.50
4,223
8,868
First Lien Mortgages
284,118
12.60
5.50
7.75
15,626
22,019
HELOCs
135,508
6.01
7.00
9.50
9,486
12,873
Other Consumer
9,969
0.44
5.00
10.00
498
997
Other Loans
2,299
0.10
3.00
7.00
69
161
Aggregate
$2,254,141
100.00
$126,766
$212,884
% of Total Loans
5.6%
9.4%
Tangible Common Equity
165,612
165,612
Tangible Assets
2,826,807
2,826,807
Tier 1 Capital
291,616
291,616
Risk-Weighted Assets
2,405,010
2,405,010
Tangible Common Equity/Tangible Assets
5.86%
5.86%
Tier 1 Capital / Risk-Weighted Assets
12.13%
12.13%
Est. Remaining Loss Calculation
Est. Cumulative Loan Losses
126,766
212,884
Less: Reserves in Excess of 1.5% of 6/30/10 Gross Loans
28,533
28,533
Less: 2-year Est. Pre-Tax, Pre-Provision Net Revenue²
113,992
113,992
(15,759)
70,359
Estimated Capital Ratios
Est. Tangible Common Equity after Remaining Credit Losses
181,371
95,253
Est. Tangible Assets after Remaining Credit Losses
2,842,566
2,756,448
Est. Tangible Common Equity/Tangible Assets
6.38%
3.46%
Est. Tier 1 Capital after Remaining Credit Losses
307,375
221,257
Est. RWA after Remaining Credit Losses
2,420,768
2,334,651
Est. Tier 1 / RWA
12.70%
9.48%
Pro Forma Capital Ratios
Capital Required for Tier 1 / RWA of 6%
0
0
Tier 1 / RWA Pro Forma for Est. Remaining Losses³
12.70%
9.48%
Capital Required for TCE / TA of 4%
0
15,630
TCE / TA Pro Forma for Est. Remaining Losses
6.38%
4.00%
Financials at 6/30/2010  (see page 33 for Non - GAAP reconciliation)
Est. Remain.
Loan
Losses
in
Excess
of
ALLL
&
PPnR
(6/30/10
-
6/30/12)

Pro Forma Capital Ratios
5.86%
10.37%
12.13%
13.38%
8.15%
12.56%
14.97%
16.21%
0.0%
2.0%
4.0%
6.0%
8.0%
10.0%
12.0%
14.0%
16.0%
18.0%
TCE/TA (1)
Tier 1 Leverage Ratio
Tier 1 RB Capital Ratio
Total RB Capital Ratio
At June 30, 2010
Pro Forma 
26
(1) See appendix page 33 for a reconciliation of non-GAAP financial measures, explaining the VCBI Unadjusted Method for calculation of 
  Tangible Common Equity/Tangible assets. 
NOTE: Assumes net proceeds of $70.7 million that are invested in short term investments with a 20% risk weighting

Why Invest in VCBI?
Largest Independent Community Bank Headquartered in Northern
Virginia
Demographics -
One of Best Markets in U.S.
History of Leading Peer Group in Growth and Earnings
Strong Core Earnings
Improving Asset Quality and Strengthening Reserves
Attractive Core Deposits
Positioned to Take Advantage of Market Opportunity
Dedicated Board and Experienced Management Team
27

Appendices

29
Conservative Securities Portfolio
Portfolio had unrealized gain of
$5.5 million at June 30, 2010
No private label MBS or CMOs
Portfolio Mix:
•
33% Fixed Agency Bonds
•
22% Agency MBS
•
19% Agency CMOs
•
22% Municipals
•
4% Other
NOTE:  Dollars in thousands
Trust Preferred:
PRETSEL X B1
$868
PRETSEL VI Mezz
367
PRETSEL XXVI C2
1,784
PRETSEL XXVII B
2,862
Total
5,881
Impairment Taken
3,340
Original Face Amount
$9,221
June 30, 2010
Gross
Gross
Amortized
Unrealized
Unrealized
Fair
Security Type
Cost
Gains
(Losses)
Value
AVAILABLE FOR SALE:
US Government Agency Obligations
$269,612
$7,702
($32)
$277,282
Pooled Trust Preferred Secuities
5,881
0
(4,400)
1,481
Obligations of States and Political Subdivisions
56,088
1,324
(163)
57,249
Total Available For Sale
331,581
9,026
(4,595)
336,012
HELD-TO-MATURITY:
US Government Agency Obligations
9,556
362
0
9,918
Obligations of States and Political Subdivisions
33,644
673
0
34,317
Total Held-to-Maturity
43,200
1,035
0
44,235
Total Securities
$374,781
$10,061
($4,595)
$380,247
March 31, 2010
Gross
Gross
Amortized
Unrealized
Unrealized
Fair
Security Type
Cost
Gains
(Losses)
Value
AVAILABLE FOR SALE:
US Government Agency Obligations
$229,101
$6,016
($306)
$234,811
Pooled Trust Preferred Secuities
6,468
0
(4,696)
1,772
Obligations of States and Political Subdivisions
41,621
1,607
(19)
43,209
Total Available For Sale
277,190
7,623
(5,021)
279,792
HELD-TO-MATURITY:
US Government Agency Obligations
10,906
295
0
11,201
Obligations of States and Political Subdivisions
43,462
807
0
44,269
Total Held-to-Maturity
54,368
1,102
0
55,470
Total Securities
$331,558
$8,725
($5,021)
$335,262
December 31, 2009
Gross
Gross
Amortized
Unrealized
Unrealized
Fair
Security Type
Cost
Gains
(Losses)
Value
AVAILABLE FOR SALE:
US Government Agency Obligations
$242,129
$6,004
($999)
$247,134
Pooled Trust Preferred Secuities
7,241
0
(5,211)
2,030
Obligations of States and Political Subdivisions
41,610
873
(126)
42,357
Total Available For Sale
290,980
6,877
(6,336)
291,521
HELD-TO-MATURITY:
US Government Agency Obligations
12,323
430
0
12,753
Obligations of States and Political Subdivisions
44,741
821
0
45,562
Total Held-to-Maturity
57,064
1,251
0
58,315
Total Securities
$348,044
$8,128
($6,336)
$349,836

30
Historical Balance Sheet
December 31,
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
06/30/10
ASSETS
Cash and Cash Equivalents
$10,952
$15,155
$43,978
$54,056
$17,792
$33,642
$36,068
$35,341
$33,515
$25,211
$120,528
Available for Sale Secs
29,676
40,894
53,890
100,564
117,381
124,019
183,788
274,510
268,836
291,521
336,012
Held to Maturity Secs
14,464
10,941
15,550
46,513
42,593
45,260
45,884
45,599
56,907
57,064
43,200
Other Secs
1,114
1,179
1,791
2,168
3,258
3,774
4,531
6,128
11,076
11,751
11,752
Total Cash & Securities
56,206
68,169
115,209
203,301
181,024
206,695
270,271
361,578
370,334
385,547
511,492
Gross Loans
303,602
399,464
522,824
662,308
936,184
1,284,076
1,647,928
1,947,001
2,309,561
2,275,216
2,250,257
Loan Loss Reserve
2,803
4,356
5,924
7,457
10,402
13,821
18,101
22,260
36,475
65,152
62,345
Loans Held for Sale
4,918
15,842
18,948
3,513
9,662
12,548
7,796
4,339
6,221
6,492
9,620
Total Net Loans
305,717
410,950
535,848
658,364
935,444
1,282,803
1,637,623
1,929,080
2,279,307
2,216,556
2,197,532
Other Real Estate Owned, net
0
0
0
0
0
0
0
0
7,569
28,499
26,477
Intangible Assets
34
26
18
10
2
0
0
0
0
0
0
Total Other Assets
9,225
10,366
11,812
19,449
22,883
28,927
41,188
49,039
58,712
94,695
91,306
Total Assets
$371,182
$489,511
$662,887
$881,124
$1,139,353
$1,518,425
$1,949,082
$2,339,697
$2,715,922
$2,725,297
$2,826,807
LIABILITIES
Total Deposits
$310,935
$406,922
$566,996
$773,511
$970,968
$1,243,506
$1,605,941
$1,869,165
$2,172,142
$2,229,327
$2,314,086
Senior Debt
36,497
53,852
32,481
30,887
53,207
111,794
148,871
247,534
212,959
201,729
208,456
Trust Preferred Secs.
0
0
18,000
18,000
18,570
44,344
44,344
41,244
65,800
66,057
66,185
Total Other Liabilities
2,584
2,517
3,560
3,634
5,284
6,963
10,075
12,611
11,734
9,316
7,749
Total Liabilities
350,016
463,291
621,037
826,032
1,048,029
1,406,607
1,809,231
2,170,554
2,462,635
2,506,429
2,596,476
EQUITY
TARP Preferred
0
0
0
0
0
0
0
0
62,541
63,993
64,719
Common Equity
21,166
26,220
41,850
55,092
91,324
111,818
139,851
169,143
190,746
154,875
165,612
Equity Attributable to Parent Company
21,166
26,220
41,850
55,092
91,324
111,818
139,851
169,143
253,287
218,868
230,331
Total Liabilities and Equity
$371,182
$489,511
$662,887
$881,124
$1,139,353
$1,518,425
$1,949,082
$2,339,697
$2,715,922
$2,725,297
$2,826,807
Tangible Book Value Per Share
$1.10
$1.36
$1.98
$2.47
$3.64
$4.40
$5.39
$6.43
$6.86
$5.53
$5.91
Asset Growth
31.9%
35.4%
32.9%
29.3%
33.3%
28.4%
20.0%
16.1%
0.3%
4.7%
Deposit Growth
30.9%
39.3%
36.4%
25.5%
28.1%
29.1%
16.4%
16.2%
2.6%
5.6%
Loan / Deposit
99.2%
102.1%
95.6%
86.1%
97.4%
104.3%
103.1%
104.4%
106.6%
102.3%
97.7%
NOTE: See appendix page 33 for a reconciliation of non-GAAP financial measures, explaining the VCBI TARP Liquidation Method for calculation of 
             Tangible book value per share.
Dollars in thousands, except per share amounts

Historical Income Statement
NOTE: Dollars in thousands, except per share amounts
3 Months
Ended
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
06/30/10
INTEREST INCOME:
Interest & fees on loans
$23,215
$29,720
$35,491
$41,065
$51,814
$79,614
$115,405
$138,919
$143,501
$134,548
$33,236
Interest & dividends on investment securities
3,561
4,177
3,507
4,903
6,184
6,864
9,887
15,219
16,967
16,085
3,925
Total interest income
26,776
33,897
38,998
45,968
57,998
86,478
125,292
154,138
160,468
150,633
37,161
INTEREST EXPENSE:
Deposits
11,425
14,494
13,341
12,914
15,100
26,432
48,152
69,398
67,261
49,598
8,431
Secs. sold under agreement to repurch. and fed. funds purch.
1,076
976
245
123
325
1,710
4,730
6,259
5,534
3,475
1,010
Other borrowed funds
360
521
497
21
15
423
506
225
1,235
1,077
268
Trust preferred capital notes
0
0
45
835
891
1,246
3,099
3,099
3,400
5,079
1,231
Total interest expense
12,861
15,991
14,128
13,893
16,331
29,811
56,487
78,981
77,430
59,229
10,940
NET INTEREST INCOME
13,915
17,906
24,870
32,075
41,667
56,667
68,805
75,157
83,038
91,404
26,221
PROVISION FOR LOAN LOSSES
947
1,572
1,678
1,575
2,989
3,772
4,406
4,340
25,378
81,913
4,200
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES
12,968
16,334
23,192
30,500
38,678
52,895
64,399
70,817
57,660
9,491
22,021
NON-INTEREST INCOME (CHARGES):
Service charges and other fees
980
1,271
1,616
1,609
1,749
2,553
3,226
3,388
3,902
3,606
838
Non-deposit investment services commissions
0
0
14
202
427
456
621
770
702
600
178
Fees and net gains on loans held-for-sale
1,586
3,379
3,920
5,670
3,229
3,306
3,058
2,706
1,498
2,912
483
(Loss) gain on other real estate owned
0
0
0
0
0
0
0
638
0
(9,952)
(1,060)
0
13
(1)
0
0
0
0
(387)
0
(1,821)
(529)
Other
33
41
44
265
354
361
418
768
329
303
118
Total non-interest income (charges)
2,599
4,704
5,593
7,746
5,759
6,676
7,323
7,883
6,431
(4,352)
28
NON-INTEREST EXPENSE:
Salaries & employee benefits
5,812
8,130
10,159
12,562
13,478
17,321
19,911
22,536
23,362
23,040
5,991
Occupancy expense
1,946
2,337
2,915
3,190
3,240
4,479
5,448
7,031
8,857
10,253
2,410
FDIC insurance expense
123
62
75
97
120
142
166
758
1,500
5,411
1,332
Franchise tax
138
174
223
326
471
835
1,044
1,279
1,528
3,100
718
Data processing
750
902
1,079
1,239
1,314
1,553
1,954
1,940
2,166
2,436
579
Provision for unfunded commitments
0
0
0
0
0
0
0
0
0
2,960
0
Other operating expense
1,867
2,377
2,766
3,406
4,184
5,136
5,766
6,150
7,363
9,668
2,698
Total non-interest expense
10,636
13,982
17,217
20,820
22,807
29,466
34,289
39,694
44,776
56,868
13,728
INCOME/(LOSS) BEFORE TAXES
4,931
7,056
11,568
17,426
21,630
30,105
37,433
39,006
19,315
(51,729)
8,321
Provision (benefit) for income taxes
1,681
2,391
3,892
5,880
7,401
10,438
12,925
13,219
6,231
(18,404)
2,750
NET INCOME/(LOSS)
3,250
4,665
7,676
11,546
14,229
19,667
24,508
25,787
13,084
(33,325)
5,571
Effective dividend on preferred stock
0
0
0
0
0
0
0
0
258
4,539
1,251
NET INCOME/(LOSS) AVAILABLE TO COMMON STOCKHOLDERS
$3,250
$4,665
$7,676
$11,546
$14,229
$19,667
$24,508
$25,787
$12,826
($37,864)
$4,320
Earnings (loss) per common share, basic
$0.12
$0.18
$0.38
$0.52
$0.59
$0.77
$0.95
$0.98
$0.48
($1.42)
$0.16
Earnings (loss) per common share, diluted
$0.12
$0.17
$0.34
$0.47
$0.55
$0.72
$0.89
$0.95
$0.47
($1.42)
$0.15
(Loss) gain on securities available -for-sale
31

32
Demographic Information
NOTE:  VCBI Branch Markets defined as only those counties shown.
Washington
DC
Metro
Area
includes
the
following
jurisdictions:
DC-
Washington
DC;
VA
–
Arlington,
Alexandria,
Falls
Church,
Fairfax,
Fairfax
(City),
Loudoun,
Manassas,
Manassas
Park,
Prince
William;
MD
–
Montgomery,
Prince
George’s
Source: SNL Financial
County
State
Total
Population
2009
(actual)
Population
Change
2000
-
2009
(%)
Projected
Change
2009
-
2014
(%)
Total
Households
2009
(actual)
Median
HH Income
2009
($)
HH Income
Change
2000
-
2009
(%)
Projected HH
Income Change
2009
-
2014
(%)
Per Capita
Income
2009
($)
Alexandria (City)
VA
139,993
9.13
4.01
66,316
75,322
33.87
6.98
45,836
Arlington
VA
205,815
8.64
4.33
91,937
85,459
35.11
6.84
48,505
Fairfax
VA
1,029,078
6.12
1.92
374,165
109,067
36.11
6.50
49,304
Fairfax (City)
VA
23,404
8.87
4.37
8,743
89,673
32.18
6.27
40,669
Falls Church (City)
VA
11,159
7.54
3.89
4,790
104,222
39.11
5.15
59,966
Fredericksburg (City)
VA
22,234
15.33
6.77
9,631
46,263
33.40
7.88
28,565
Loudoun
VA
297,849
75.62
22.81
102,058
115,732
45.05
7.24
49,351
Manassas (City)
VA
37,234
5.97
1.03
12,388
79,757
32.17
6.05
31,425
Manassas Park (City)
VA
13,923
35.31
13.02
4,363
81,438
33.77
7.72
28,501
Prince William
VA
384,215
36.82
12.19
131,748
86,822
32.53
5.52
34,427
Fauquier
VA
68,725
24.64
8.69
24,403
82,771
32.90
6.11
35,339
Spotsylvania
VA
123,720
36.87
11.92
43,443
73,691
28.79
5.51
28,859
Stafford
VA
127,049
37.43
11.50
41,659
88,190
33.55
5.28
32,610
VCBI Branch Markets
2,484,398
15.33
6.77
915,644
85,459
33.55
6.27
35,339
Washington DC Metro Area
4,531,380
8.76
3.95
1,710,325
86,141
33.15
6.16
42,965
U.S. Aggregate
309,731,508
10.06
4.63
116,523,156
54,719
29.78
4.06
27,277

33
Non-GAAP Financial Measures
Tangible Common Equity Calculations
NOTE: Dollars in thousands, except per share amounts.
For Years Ended December 31,
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
03/31/10
06/30/10
VCBI TARP LIQUIDATION METHOD
Total stockholders' Equity
$21,166
$26,220
$41,850
$55,092
$91,324
$111,818
$139,851
$169,143
$253,287
$218,868
$224,259
$230,331
Less: TARP Liquidation Value
0
0
0
0
0
0
0
0
71,000
71,000
71,000
71,000
Common stockholders' equity
21,166
26,220
41,850
55,092
91,324
111,818
139,851
169,143
182,287
147,868
153,259
159,331
Less: Intangible assets
34
26
18
10
2
0
0
0
0
0
0
0
Tangible common equity
$21,132
$26,194
$41,832
$55,082
$91,322
$111,818
$139,851
$169,143
$182,287
$147,868
$153,259
$159,331
Book value per share
$1.10
$1.36
$1.98
$2.47
$3.64
$4.40
$5.39
$6.43
$6.86
$5.53
$5.69
$5.91
Less: Intangible assets per share
0.02
0.01
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Tangible book value per share
$1.10
$1.36
$1.98
$2.47
$3.64
$4.40
$5.39
$6.43
$6.86
$5.53
$5.69
$5.91
Tangible common equity/Tangible Assets
5.69%
5.35%
6.31%
6.25%
8.02%
7.36%
7.18%
7.23%
6.71%
5.43%
5.47%
5.64%
UNADJUSTED METHOD
Total stockholders' Equity
$21,166
$26,220
$41,850
$55,092
$91,324
$111,818
$139,851
$169,143
$253,287
$218,868
$224,259
$230,331
Less: TARP Sr. Pfd. Outstanding
0
0
0
0
0
0
0
0
62,541
63,993
64,356
64,719
Common stockholders' equity
21,166
26,220
41,850
55,092
91,324
111,818
139,851
169,143
190,746
154,875
159,903
165,612
Less: Intangible assets
34
26
18
10
2
0
0
0
0
0
0
0
Tangible common equity
$21,132
$26,194
$41,832
$55,082
$91,322
$111,818
$139,851
$169,143
$190,746
$154,875
$159,903
$165,612
Book value per share
$1.10
$1.36
$1.98
$2.47
$3.64
$4.40
$5.39
$6.43
$7.18
$5.79
$5.94
$6.15
Less: Intangible assets per share
0.02
0.01
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Tangible book value per share
$1.10
$1.36
$1.98
$2.47
$3.64
$4.40
$5.39
$6.43
$7.18
$5.79
$5.94
$6.15
Tangible common equity/Tangible Assets
5.69%
5.35%
6.31%
6.25%
8.02%
7.36%
7.18%
7.23%
7.02%
5.68%
5.70%
5.86%
CALCULATION OF TANGIBLE ASSETS
Total assets
$371,182
$489,511
$662,887
$881,124
$1,139,353
$1,518,425
$1,949,082
$2,339,697
$2,715,922
$2,725,297
$2,803,004
$2,826,807
Less: Intangible assets
34
26
18
10
2
0
0
0
0
0
0
0
Tangible assets
$371,148
$489,485
$662,869
$881,114
$1,139,351
$1,518,425
$1,949,082
$2,339,697
$2,715,922
$2,725,297
$2,803,004
$2,826,807
For Quarter Ended
Tangible common equity, tangible book value per common share and tangible assets are non-GAAP financial measures derived from GAAP-based
amounts. We calculate common stockholders’ equity by deducting either the TARP liquidation value or the amount of the outstanding TARP preferred
stock from total stockholders’ equity.  We calculate tangible common equity by excluding the balance of intangible assets from common stockholders’
equity. We calculate tangible book value per common share by dividing tangible common equity by common shares outstanding, as compared to book
value per common share, which we calculate by dividing common stockholder’s equity by common shares outstanding. We calculate tangible assets by
excluding the balance of intangible assets from total assets. We believe that this is consistent with the treatment by bank regulatory agencies, which
exclude intangible assets from the calculation of regulatory capital ratios. Accordingly, we believe that these non-GAAP financial measures provide
information that is important to investors and that is useful in understanding our capital position and ratios.  However, these non-GAAP financial
measures are supplemental and are not a substitute for an analysis based on GAAP measures. As other companies may use different calculations for
these measures, these measures may not be comparable to other similarly titled measures reported by other companies. A reconciliation of the non-
GAAP measures of tangible common equity, tangible book value per common share and tangible assets to the GAAP measures of common
stockholders’ equity, book value per common share and total assets is set forth below:

Non-GAAP Financial Measures
Efficiency Ratio Calculation
NOTE: Dollars in thousands
For Years Ended December 31,
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
03/31/10
06/30/10
VCBI ADJUSTED METHOD
Non-Interest Expense
$10,636
$13,982
$17,217
$20,820
$22,807
$29,466
$34,289
$39,694
$44,776
$56,868
$13,789
$13,728
Less Provision for Unfunded Commitments
0
0
0
0
0
0
0
0
0
2,960
0
0
Numerator
$10,636
$13,982
$17,217
$20,820
$22,807
$29,466
$34,289
$39,694
$44,776
$53,908
$13,789
$13,728
Net Interest Income
13,915
17,906
24,870
32,075
41,667
56,667
68,805
75,157
83,038
91,404
24,816
26,221
ADD: Non-Interest Income
2,599
4,704
5,593
7,746
5,759
6,676
7,323
7,883
6,431
(4,352)
(311)
28
ADD: Losses on OREO
0
0
0
0
0
0
0
0
0
9,952
918
1,060
Denominator
$16,514
$22,610
$30,463
$39,821
$47,426
$63,343
$76,128
$83,040
$89,469
$97,004
$25,423
$27,309
Efficiency Ratio
64.4%
61.8%
56.5%
52.3%
48.1%
46.5%
45.0%
47.8%
50.1%
55.6%
54.2%
50.3%
UNADJUSTED METHOD
Non-Interest Expense
$10,636
$13,982
$17,217
$20,820
$22,807
$29,466
$34,289
$39,694
$44,776
$56,868
$13,789
$13,728
Numerator
$10,636
$13,982
$17,217
$20,820
$22,807
$29,466
$34,289
$39,694
$44,776
$56,868
$13,789
$13,728
Net Interest Income
13,915
17,906
24,870
32,075
41,667
56,667
68,805
75,157
83,038
91,404
24,816
26,221
ADD: Non-Interest Income
2,599
4,704
5,593
7,746
5,759
6,676
7,323
7,883
6,431
(4,352)
(311)
28
Denominator
$16,514
$22,610
$30,463
$39,821
$47,426
$63,343
$76,128
$83,040
$89,469
$87,052
$24,505
$26,249
Efficiency Ratio
64.4%
61.8%
56.5%
52.3%
48.1%
46.5%
45.0%
47.8%
50.1%
65.3%
56.3%
52.3%
For Quarter Ended
34
The efficiency ratio is a non-GAAP financial measure.  The unadjusted method for computing the efficiency ratio is calculated by
dividing non-interest expense by the sum of net interest income on a tax equivalent basis and non-interest income.  The adjusted
method used by VCBI for calculating the efficiency ratio is computed by dividing non-interest expense, less the provision for
unfunded commitments, by the sum of net interest income on a tax equivalent basis and non-interest income before losses on
other real estate owned. We believe that this measure provides investors with important information about our operating
efficiency. Accordingly, we believe that these non-GAAP financial measures provide information that is important to investors
and that is useful in understanding  our operating efficiency. These non-GAAP financial measures are supplemental and are not a
substitute for analyses based on GAAP measures. As other companies may use different calculations for these measures, these
measures may not be comparable to other similarly titled measures reported by other companies. The efficiency ratio calculation
of the VCBI adjusted method and the unadjusted method for each of the years ended December 31, 2000 through 2009 and for
the quarters ended March 31, 2010 and June 30, 2010 is as follows:
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