First Capital Bancorp, Inc. announced today, a net loss of $731 thousand or $0.29 per diluted share for the three months ended June 30, 2009, compared to net income of $386 thousand for the same period in 2008. The net loss for the first six months of 2009 totaled $629 thousand or $0.26 per diluted share compared to net income of $801 thousand for the six months ended June 30, 2008.

John Presley, Managing Director and CEO of First Capital Bancorp, Inc., stated, "While we are encouraged by positive trends in net interest income, decreased funding cost and reductions in nonperforming assets and delinquencies, we continue to be cautious in our view of the economy and the effects on the portfolio."

A number of factors contributed to the decrease in second quarter earnings and year-to-date earnings compared to the same period in the prior year:

   --  $220 thousand in merger costs incurred in the second quarter of 2009       in the proposed merger with Eastern Virginia Bankshares, Inc. ("EVB").       The combined company (pending shareholder and regulatory approval)       will have $1.6 billion in total assets and 32 branches in the central       Virginia market.     --  $429 thousand ($283 thousand after tax) increase in the second quarter       of 2009 and $491 thousand year-to-date increase in FDIC premiums       including the special assessment ($226 thousand) in the second quarter       of 2009 as compared to the comparable periods in 2008.     --  $785 thousand ($518 thousand after tax) or 253.2% increase in the loan       loss provision in the second quarter of 2009 as compared to the second       quarter of 2008.  While nonperforming assets have decreased since the       first quarter and delinquencies have remained manageable, the economic       recession has impacted our asset quality resulting in an addition to       the allowance for loan losses.     --  $74 thousand ($49 thousand after tax) increase in the second quarter       of 2009 and $132 thousand year-to-date increase in Professional       services as compared to the comparable periods in 2008.  Increased       legal fees are primarily related to the resolution of various problem       loans.   

Nonperforming assets totaled $6.0 million at June 30, 2009 down from $8.2 million at March 31, 2009. Nonperforming assets consisted of nonaccrual loans of $2.9 million and other real estate owned of $3.0 million, represented 1.2% of assets at June 30, 2009 down from 1.7% of assets as of March 31, 2009 and 1.5% of assets as of December 31, 2008. There was one loan 90 days past due and still accruing at June 30, 2009 totaling $146 thousand. Total loans more than thirty days delinquent and still accruing, decreased from 1.29% at December 31, 2008 to 0.85% at June 30, 2009. Nonperforming assets totaled $81 thousand at June 30, 2008. The majority of nonperforming assets are secured by and relate to real estate.

Loans charged-off totaled $130 thousand during the second quarter of 2009 as compared to no charge-offs in the quarter ended June 30, 2008. The allowance for loan losses stood at 1.55% as of June 30, 2009 compared to .93% at June 30, 2008 reflecting the banks concern about continued deterioration of the economy and the potential effect on the bank's customers and loan portfolio. The provision for loans losses was $1.1 million in the second quarter of 2009 and $1.3 million for the six months ending June 30, 2009 as compared to $310 thousand and $635 thousand in the respective periods of the previous year.