Cardinal Reports Asset Quality Continues to Be Exceptional

Capital Remains Strong; Net Interest Margin Improves
TYSONS CORNER, Va.--(Business Wire)--
Cardinal Financial Corporation (NASDAQ:CFNL) (the "Company") today
reported earnings of $2.1 million and $4.1 million, equivalent to
$0.08 and $0.16 per diluted share, for the three and six month periods
ended June 30, 2008, respectively, excluding a one time nonrecurring
net expense incurred during the current quarter of $1.8 million
pretax, or $1.2 million after tax, related to a settlement agreement
between its mortgage subsidiary and one of its major mortgage
investors. After the one time expense, the Company reported GAAP net
income of $874 thousand, or $0.04 per diluted share, for the current
quarter. This compares to net income of $1.9 million, or $0.08 per
diluted share, for the same period of 2007.

Selected Highlights

-- Asset quality continues to be exceptional and is one of the
best in the industry. The bank had no nonaccrual loans or
other real estate owned at period-end, and net loan charge
offs during the quarter were only 0.06% of loans outstanding.
The allowance for loan losses increased from 1.12% to 1.16% of
total loans held for investment and the provision for loan
losses increased to $769 thousand versus $475 thousand
compared to the same quarter last year.

-- The net interest margin increased to 2.85% from 2.64% compared
to the year ago quarter. Net interest income increased to
$11.0 million from $10.2 million. From the first quarter 2008,
the net interest margin improved by 16 basis points.

-- The bank's loan portfolio grew 15% compared to a year ago.
Mortgage loans "held for sale" decreased by 56%. Consolidated
assets at period-end were $1.73 billion versus $1.69 billion
at March 31, 2008.

-- The Company continues to be "well-capitalized" exceeding all
regulatory standards.

For the quarter ended June 30, 2008, net income from commercial
banking operations was $2.7 million versus $1.8 million for the same
quarter in 2007. The increase is primarily a result of improved net
interest income. The bank has maintained a balance sheet position that
favored decreases in interest rates. Additionally, the quality of the
Bank's loan portfolio has remained among the industry leaders.

The one time nonrecurring settlement expense between George Mason
Mortgage, LLC, ("GMM"), a mortgage banking subsidiary of Cardinal
Bank, and one of its major mortgage correspondents related to the loan
purchase arrangement between such parties. Generally, the settlement
agreement provided for the release of known and unknown claims by the
correspondent in exchange for a $2.8 million payment to the
correspondent. GMM also entered into similar agreements with certain
third party mortgage companies relating to loan purchase agreements
between such parties. These settlement agreements provided for a total
payment of $1.0 million to GMM by those third party mortgage
companies.

MANAGEMENT COMMENTS

Bernard H. Clineburg, Chairman and Chief Executive Officer of the
Company, said:

"As evidenced by the quality of the bank's loan portfolio, we have
and will continue to adhere to our consistent and prudent credit
underwriting practices ensuring we operate a safe and sound financial
institution. The economic conditions are challenging and we are not
immune to what is happening in the mortgage industry but have taken
steps to significantly reduce our exposure. We believe our approach to
building quality long term customer relationships will continue to
strengthen Cardinal today and in the future.

"We are well positioned as a safe and sound bank to help the
consumers and businesses in the communities we serve while staying
true to our shareholders by maximizing the strength and value of the
Cardinal franchise."

CAUTION ABOUT FORWARD-LOOKING STATEMENTS

This press release contains "forward-looking statements" within
the meaning of the federal securities laws. These forward-looking
statements contain information related to matters such as the
Company's intent, belief or expectation with regard to such matters as
financial and operational performance, credit quality and branch
expansion. Such statements are necessarily based on management's
assumptions and estimates and are inherently subject to a variety of
risks and uncertainties concerning the Company's operations and
business environment, which are difficult to predict and beyond the
control of the Company. Such risks and uncertainties could cause
actual results of the Company to differ materially from those matters
expressed or implied in such forward-looking statements. For an
explanation of the risks and uncertainties associated with
forward-looking statements, please refer to the Company's Annual
Report on Form 10-K for the year ended December 31, 2007 and other
reports filed with and furnished to the Securities and Exchange
Commission.

About Cardinal Financial Corporation: Cardinal Financial
Corporation, a financial holding company headquartered in Tysons
Corner, Virginia with assets of $1.73 billion at June 30, 2008, serves
the Washington Metropolitan region through its wholly-owned
subsidiary, Cardinal Bank, with 25 conveniently located banking
offices. Cardinal also operates several other subsidiaries: George
Mason Mortgage, LLC, a residential mortgage lending company based in
Fairfax, with seven offices throughout the Washington Metropolitan
region; Cardinal Trust and Investment Services, a trust division;
Cardinal Wealth Services, Inc., a full-service brokerage company; and
Wilson/Bennett Capital Management, Inc., an asset management company.
The Company's stock is traded on NASDAQ (CFNL). For additional
information please visit our Web site at www.cardinalbank.com or call
(703) 584-3400.

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Cardinal Financial Corporation and Subsidiaries
Summary Statements of Condition
June 30, 2008, December 31, 2007 and June 30, 2007
(Dollars in thousands)

(Unaudited) (Unaudited) % Change
June 30, December 31, June 30, Current Year Over
2008 2007 2007 Year Year
----------- ------------ ----------- ------- ---------
Cash and due
from banks $ 18,731 $ 20,622 $ 17,034 -9.2% 10.0%
Federal funds
sold 11,299 1,799 8,549 528.1% 32.2%

Investment
securities
available-for-
sale 318,015 285,998 285,996 11.2% 11.2%
Investment
securities
held-to-
maturity 55,550 78,948 88,497 -29.6% -37.2%
----------- ------------ ----------- ------- ---------
Total
investment
securities 373,565 364,946 374,493 2.4% -0.2%

Other
investments 16,383 14,188 11,221 15.5% 46.0%
Loans held for
sale 156,077 170,487 352,927 -8.5% -55.8%

Loans
receivable,
net of fees 1,070,754 1,039,684 928,648 3.0% 15.3%
Allowance for
loan losses (12,390) (11,641) (10,358) 6.4% 19.6%
----------- ------------ ----------- ------- ---------
Loans
receivable,
net 1,058,364 1,028,043 918,290 2.9% 15.3%

Premises and
equipment, net 17,418 18,463 19,617 -5.7% -11.2%
Goodwill and
intangibles,
net 17,113 17,239 17,366 -0.7% -1.5%
Bank-owned life
insurance 32,891 32,316 31,503 1.8% 4.4%
Other assets 24,492 21,928 26,888 11.7% -8.9%

----------- ------------ ----------- ------- ---------
TOTAL ASSETS $1,726,333 $ 1,690,031 $1,777,888 2.1% -2.9%
=========== ============ =========== ======= =========

Non-interest
bearing
deposits $ 138,524 $ 123,994 $ 139,178 11.7% -0.5%
Interest
bearing
deposits 975,069 972,931 1,046,655 0.2% -6.8%
----------- ------------ ----------- ------- ---------
Total deposits 1,113,593 1,096,925 1,185,833 1.5% -6.1%

Other borrowed
funds 425,495 400,060 371,617 6.4% 14.5%
Mortgage
funding checks 7,912 9,403 33,888 -15.9% -76.7%
Escrow
liabilities 1,423 1,016 2,990 40.1% -52.4%
Other
liabilities 18,308 23,164 28,722 -21.0% -36.3%

Shareholders'
equity 159,602 159,463 154,838 0.1% 3.1%
----------- ------------ ----------- ------- ---------

TOTAL
LIABILITIES &
SHAREHOLDERS'
EQUITY $1,726,333 $ 1,690,031 $1,777,888 2.1% -2.9%
=========== ============ =========== ======= =========
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Cardinal Financial Corporation and Subsidiaries
Summary Income Statements
Three and Six Months Ended June 30, 2008 and 2007
(Dollars in thousands, except share and per share data)
(Unaudited)

For the Three Months Ended
June 30,
2008 2007 % Change
------------ ------------ ---------
Net interest income $ 11,045 $ 10,232 7.9%
Provision for loan losses (769) (475) 61.9%
------------ ------------ ---------
Net interest income after
provision for loan losses 10,276 9,757 5.3%

Service charges on deposit
accounts 535 502 6.6%
Loan service charges 354 436 -18.8%
Investment fee income 922 1,111 -17.0%
Realized and unrealized gains on
mortgage banking activities 1,576 2,435 -35.3%
Management fee income 302 348 -13.2%
Other non-interest income 686 477 43.8%
------------ ------------ ---------
Total non-interest income 4,375 5,309 -17.6%

Net interest income and non-
interest income 14,651 15,066 -2.8%

Salaries and benefits 5,493 6,049 -9.2%
Occupancy 1,377 1,337 3.0%
Depreciation 593 797 -25.6%
Data processing 413 355 16.3%
Telecommunications 252 286 -11.9%
Settlement with mortgage
correspondent 1,800 - 100.0%
Other operating expense 3,711 3,484 6.5%
------------ ------------ ---------
Total non-interest expense 13,639 12,308 10.8%
Net income before income taxes 1,012 2,758 -63.3%
------------ ------------ ---------
Provision for income taxes 138 816 -83.1%
-----------------------------------
NET INCOME $ 874 $ 1,942 -55.0%
===================================

Earnings per common share - basic $ 0.04 $ 0.08 -54.9%
===================================
Earnings per common share -
diluted $ 0.04 $ 0.08 -54.8%
===================================
Weighted-average common shares
outstanding - basic 24,370,905 24,448,103 -0.3%
===================================
Weighted-average common shares
outstanding - diluted 24,858,450 24,975,595 -0.5%
===================================

Reconciliation of Non-GAAP
measures:
----------------------------------

GAAP net income reported above $ 874 $ 1,942
After tax impact on:
- Settlement with mortgage
correspondent 1,179 -

-----------------------------------
Operating earnings, excluding
nonrecurring expenses reported
above: $ 2,053 $ 1,942 5.7%
===================================

Operating earnings per common
share - diluted (excluding
nonrecurring expenses reported
above) $ 0.08 $ 0.08 6.2%
===================================

For the Six Months Ended
June 30,
2008 2007 % Change
------------ ------------ ---------
Net interest income $ 21,379 $ 20,068 6.5%
Provision for loan losses (1,089) (755) 44.2%
------------ ------------ ---------
Net interest income after
provision for loan losses 20,290 19,313 5.1%

Service charges on deposit
accounts 1,062 968 9.7%
Loan service charges 664 822 -19.2%
Investment fee income 1,823 2,135 -14.6%
Realized and unrealized gains on
mortgage banking activities 3,893 5,065 -23.1%
Management fee income 386 670 -42.4%
Other non-interest income 1,159 959 20.9%
------------ ------------ ---------
Total non-interest income 8,987 10,619 -15.4%

Net interest income and non-
interest income 29,277 29,932 -2.2%

Salaries and benefits 11,495 12,645 -9.1%
Occupancy 2,776 2,627 5.7%
Depreciation 1,239 1,597 -22.4%
Data processing 855 699 22.3%
Telecommunications 486 578 -15.9%
Settlement with mortgage
correspondent 1,800 - 100.0%
Other operating expense 6,810 6,526 4.4%
------------ ------------ ---------
Total non-interest expense 25,461 24,672 3.2%
Net income before income taxes 3,816 5,260 -27.5%
------------ ------------ ---------
Provision for income taxes 900 1,553 -42.0%
-----------------------------------
NET INCOME $ 2,916 $ 3,707 -21.3%
===================================

Earnings per common share - basic $ 0.12 $ 0.15 -21.2%
===================================
Earnings per common share -
diluted $ 0.12 $ 0.15 -20.9%
===================================
Weighted-average common shares
outstanding - basic 24,426,234 24,478,817 -0.2%
===================================
Weighted-average common shares
outstanding - diluted 24,867,818 25,000,523 -0.5%
===================================

Reconciliation of Non-GAAP
measures:
----------------------------------

GAAP net income reported above $ 2,916 $ 3,707
After tax impact on:
- Settlement with mortgage
correspondent 1,179 -

-----------------------------------
Operating earnings, excluding
nonrecurring expenses reported
above: $ 4,095 $ 3,707 10.5%
===================================

Operating earnings per common
share - diluted (excluding
nonrecurring expenses reported
above) $ 0.16 $ 0.15 11.1%
===================================
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Cardinal Financial Corporation and Subsidiaries
Selected Financial Information
(Dollars in thousands, except per share data and ratios)
(Unaudited)

For the Three Months For the Six Months
Ended Ended
June 30, June 30,
2008 2007 2008 2007
-----------------------------------------------
Income Statements:
Interest income $ 22,177 $ 25,048 $ 45,331 $ 48,993
Interest expense 11,132 14,816 23,952 28,925
----------------------------------------------------------------------
Net interest income 11,045 10,232 21,379 20,068
Provision for loan
losses 769 475 1,089 755
----------------------------------------------------------------------
Net interest income
after provision for
loan losses 10,276 9,757 20,290 19,313
Non-interest income 4,375 5,309 8,987 10,619
Non-interest expense 13,639 12,308 25,461 24,672
----------------------------------------------------------------------
Net income before
income taxes 1,012 2,758 3,816 5,260
Provision for income
taxes 138 816 900 1,553
----------------------------------------------------------------------
Net income $ 874 $ 1,942 $ 2,916 $ 3,707
======================================================================

Balance Sheet Data: June 30, June 30,
2008 2007
Total assets $1,726,333 $1,777,888
Loans receivable,
net of fees 1,070,754 928,648
Allowance for loan
losses (12,390) (10,358)
Loans held for sale 156,077 352,927
Total investment
securities 373,565 374,493
Total deposits 1,113,593 1,185,833
Other borrowed funds 425,495 371,617
Total shareholders'
equity 159,602 154,838

Common shares
outstanding 24,107 24,250

For the Three Months For the Six Months
Ended June 30, Ended June 30,
Selected Average
Balances: 2008 2007 2008 2007
Total assets $1,652,870 $1,646,822 $1,644,318 $1,630,399
Loans receivable,
net of fees 1,052,938 894,360 1,047,954 874,617
Allowance for loan
losses (12,005) (10,022) (11,903) (9,884)
Loans held for sale 141,583 302,075 140,459 275,665
Total investment
securities 328,767 349,371 332,257 343,510
Interest earning
assets 1,569,702 1,565,432 1,560,532 1,547,734
Total deposits 1,122,712 1,195,067 1,118,898 1,215,709
Other borrowed funds 347,775 272,844 343,719 236,486
Total shareholders'
equity 163,385 158,155 162,374 157,576
Weighted Average:
----------------------
Common shares
outstanding - basic 24,371 24,448 24,426 24,479
Common shares
outstanding -
diluted 24,858 24,976 24,868 25,001

Per Common Share Data:
Basic net income $ 0.04 $ 0.08 $ 0.12 $ 0.15
Fully diluted net
income 0.04 0.08 0.12 0.15
Book value 6.62 6.39 6.62 6.39
Tangible book value
(1) 6.00 5.85 6.00 5.85

Performance Ratios:
Return on average
assets 0.21% 0.47% 0.35% 0.45%
Return on average
equity 2.14% 4.91% 3.59% 4.71%
Net interest margin
(2) 2.85% 2.64% 2.77% 2.62%
Efficiency ratio (3) 76.78% 79.20% 77.92% 80.40%
Non-interest income
to average assets 1.06% 1.29% 1.09% 1.30%
Non-interest expense
to average assets 3.30% 2.99% 3.10% 3.03%

Asset Quality Data:
Annualized net
charge-offs to
average loans
receivable, net of
fees 0.06% 0.01%
Nonaccrual loans to
loans receivable,
net of fees 0.00% 0.05%
Nonaccrual loans to
total assets 0.00% 0.03%
Allowance for loan
losses to loans
receivable, net of
fees 1.16% 1.12%
Allowance for loan
losses to
nonperforming loans 0.00% 2071.6%

Capital Ratios:
Tier 1 risk-based
capital 11.95% 12.20%
Total risk-based
capital 12.87% 13.00%
Leverage capital
ratio 10.06% 9.93%
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(1) Tangible book value is calculated as total shareholders' equity,
adjusted for changes in other comprehensive income, less goodwill
and other intangible assets, divided by common shares
outstanding.

(2) Net interest margin is calculated as net interest income divided
by total average earning assets and reported on a tax equivalent
basis at a rate of 34%.

(3) Efficiency ratio is calculated as total non-interest expense (less
nonrecurring expense) divided by the total of net interest income
and non-interest income.
*T

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Cardinal Financial Corporation and Subsidiaries
Average Statements of Condition and Yields on Earning Assets and
Interest-Bearing Liabilities
Three and Six Months Ended June 30, 2008 and 2007
(Dollars in thousands)
(Unaudited)

For the Three Months Ended
June 30, 2008 June 30, 2007
Average Average Average Average
Balance Yield Balance Yield
----------- ------- ----------- -------
Interest-earning assets:
Loans receivable, net of fees
(1)
Commercial and industrial $ 126,374 5.96% $ 108,566 7.60%
Real estate - commercial 428,435 6.55% 353,679 6.70%
Real estate - construction 191,377 5.85% 160,565 8.40%
Real estate - residential 213,725 5.58% 199,420 5.48%
Home equity lines 90,352 4.66% 64,210 7.39%
Consumer 2,675 5.85% 7,920 8.28%
----------- ------- ----------- -------
Total loans 1,052,938 5.99% 894,360 6.90%
----------- ------- ----------- -------

Loans held for sale 141,583 5.52% 302,075 7.04%
Investment securities -
trading - 0.00% - 0.00%
Investment securities -
available-for-sale (1) 269,136 5.31% 257,238 4.91%
Investment securities - held-
to-maturity 59,631 4.21% 92,133 4.17%
Other investments 15,066 5.72% 9,985 5.99%
Federal funds sold (1) 31,348 2.29% 9,641 5.75%
----------- ------- ----------- -------
Total interest-earning
assets 1,569,702 5.69% 1,565,432 6.43%

Non-interest earning assets:
Cash and due from banks 6,710 6,883
Premises and equipment, net 17,743 19,989
Goodwill and intangibles, net 17,147 17,401
Accrued interest and other
assets 53,573 47,139
Allowance for loan losses (12,005) (10,022)

----------- -----------
TOTAL ASSETS $1,652,870 $1,646,822
=========== ===========

Interest-bearing liabilities:
Interest-bearing deposits $ 997,955 3.16% $1,070,945 4.40%
Other borrowed funds 347,775 3.77% 272,844 4.52%
----------- ------- ----------- -------
Total interest-bearing
liabilities 1,345,730 3.32% 1,343,789 4.42%

Noninterest-bearing
liabilities:
Noninterest-bearing deposits 124,757 124,122
Other liabilities 18,998 20,756

Shareholders' equity 163,385 158,155

----------- -----------
TOTAL LIABILITIES &
SHAREHOLDERS' EQUITY $1,652,870 $1,646,822
=========== ===========

NET INTEREST MARGIN (1) 2.85% 2.64%

For the Six Months Ended
June 30, 2008 June 30, 2007
Average Average Average Average
Balance Yield Balance Yield
----------- ------- ----------- -------
Interest-earning assets:
Loans receivable, net of fees
(1)
Commercial and industrial $ 131,455 6.45% $ 106,001 7.57%
Real estate - commercial 422,046 6.57% 339,127 6.64%
Real estate - construction 191,130 6.30% 160,456 8.42%
Real estate - residential 212,845 5.62% 198,605 5.45%
Home equity lines 87,761 5.06% 64,019 7.40%
Consumer 2,717 6.59% 6,409 8.08%
----------- ------- ----------- -------
Total loans 1,047,954 6.18% 874,617 6.87%
----------- ------- ----------- -------

Loans held for sale 140,459 5.81% 275,665 7.04%
Investment securities -
trading - 0.00% 22 4.58%
Investment securities -
available-for-sale (1) 267,192 5.22% 249,354 4.85%
Investment securities - held-
to-maturity 65,065 4.23% 94,134 4.17%
Other investments 14,840 5.84% 9,360 5.91%
Federal funds sold (1) 25,022 2.54% 44,582 5.26%
----------- ------- ----------- -------
Total interest-earning
assets 1,560,532 5.84% 1,547,734 6.36%

Non-interest earning assets:
Cash and due from banks 7,671 8,130
Premises and equipment, net 18,011 20,084
Goodwill and intangibles, net 17,180 17,435
Accrued interest and other
assets 52,827 46,900
Allowance for loan losses (11,903) (9,884)

----------- -----------
TOTAL ASSETS $1,644,318 $1,630,399
=========== ===========

Interest-bearing liabilities:
Interest-bearing deposits $ 995,315 3.48% $1,091,863 4.40%
Other borrowed funds 343,719 3.95% 236,486 4.36%
----------- ------- ----------- -------
Total interest-bearing
liabilities 1,339,034 3.60% 1,328,349 4.39%

Noninterest-bearing
liabilities:
Noninterest-bearing deposits 123,583 123,846
Other liabilities 19,327 20,628

Shareholders' equity 162,374 157,576

----------- -----------
TOTAL LIABILITIES &
SHAREHOLDERS' EQUITY $1,644,318 $1,630,399
=========== ===========

NET INTEREST MARGIN (1) 2.77% 2.62%
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(1) The average yields for loans receivable, investment securities
available-for-sale and fed funds sold (which includes investments
in money market preferred stock) are reported on a fully taxable-
equivalent basis at a rate of 34%.
*T

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Cardinal Financial Corporation and Subsidiaries
Segment Reporting at and for the Three and Six Months Ended June 30,
2008 and 2007
(Dollars in thousands)
(Unaudited)

At and for the Three Months Ended June 30, 2008:

Wealth
Management
&
Commercial Mortgage Trust
Banking Banking Services
---------- --------- -----------
Net interest income $ 10,437 $ 884 $ -
Provision for loan losses 605 164 -
Non-interest income 1,358 2,088 922
Non-interest expense 7,355 4,694 844
Provision for income taxes 1,105 (649) 27
---------- --------- -----------
Net income (loss) $ 2,730 $ (1,237) $ 51
========== ========= ===========
Reconciliation of Non-GAAP measures:
After tax impact on:
- Settlement with mortgage
correspondent $ - $ 1,179 $ -
---------- --------- -----------
Operating earnings, excluding
nonrecurring expenses reported above $ 2,730 $ (58) $ 51
========== ========= ===========

Average Assets $1,645,803 $147,394 $ 3,630

Intersegment
Other Elimination Consolidated
--------- ------------ ------------
Net interest income $ (276) $ - $ 11,045
Provision for loan losses - - 769
Non-interest income 7 - 4,375
Non-interest expense 746 - 13,639
Provision for income taxes (345) - 138
--------- ------------ ------------
Net income (loss) $ (670) $ - $ 874
========= ============ ============
Reconciliation of Non-GAAP
measures:
After tax impact on:
- Settlement with mortgage
correspondent $ - $ - $ 1,179
--------- ------------ ------------
Operating earnings, excluding
nonrecurring expenses reported
above $ (670) $ - $ 2,053
========= ============ ============

Average Assets $178,222 $ (322,179) $ 1,652,870

At and for the Three Months Ended June 30, 2007:

Wealth
Management
&
Commercial Mortgage Trust
Banking Banking Services
---------- --------- -----------
Net interest income $ 9,720 $ 801 $ -
Provision for loan losses 475 - -
Non-interest income 1,027 3,159 1,111
Non-interest expense 7,671 3,155 863
Provision for income taxes 851 288 (14)
---------- --------- -----------
Net income (loss) $ 1,750 $ 517 $ 262
========== ========= ===========

Average Assets $1,636,066 $303,576 $ 4,460

Intersegment
Other Elimination Consolidated
--------- ------------ ------------
Net interest income $ (289) $ - $ 10,232
Provision for loan losses - - 475
Non-interest income 12 - 5,309
Non-interest expense 619 - 12,308
Provision for income taxes (309) - 816
--------- ------------ ------------
Net income (loss) $ (587) $ - $ 1,942
========= ============ ============

Average Assets $172,103 $ (469,383) $ 1,646,822

At and for the Six Months Ended June 30, 2008:

Wealth
Management
&
Commercial Mortgage Trust
Banking Banking Services
---------- --------- -----------
Net interest income $ 20,390 $ 1,632 $ -
Provision for loan losses 925 164 -
Non-interest income 2,423 4,723 1,822
Non-interest expense 15,069 7,250 1,716
Provision for income taxes 1,923 (364) 38
---------- --------- -----------
Net income (loss) $ 4,896 $ (695) $ 68
========== ========= ===========
Reconciliation of Non-GAAP measures:
After tax impact on:
- Settlement with mortgage
correspondent $ - $ 1,179 $ -
---------- --------- -----------
Operating earnings, excluding
nonrecurring expenses reported above $ 4,896 $ 484 $ 68
========== ========= ===========

Average Assets $1,635,886 $145,197 $ 3,677

Intersegment
Other Elimination Consolidated
--------- ------------ ------------
Net interest income $ (643) $ - $ 21,379
Provision for loan losses - - 1,089
Non-interest income 19 - 8,987
Non-interest expense 1,426 - 25,461
Provision for income taxes (697) - 900
--------- ------------ ------------
Net income (loss) $ (1,353) $ - $ 2,916
========= ============ ============
Reconciliation of Non-GAAP
measures:
After tax impact on:
- Settlement with mortgage
correspondent $ - $ - $ 1,179
--------- ------------ ------------
Operating earnings, excluding
nonrecurring expenses reported
above $ (1,353) $ - $ 4,095
========= ============ ============

Average Assets $177,964 $ (318,406) $ 1,644,318

At and for the Six Months Ended June 30, 2007:

Wealth
Management
&
Commercial Mortgage Trust
Banking Banking Services
---------- --------- -----------
Net interest income $ 19,086 $ 1,552 $ -
Provision for loan losses 755 - -
Non-interest income 2,025 6,435 2,135
Non-interest expense 15,160 6,347 1,904
Provision for income taxes 1,650 587 (61)
---------- --------- -----------
Net income (loss) $ 3,546 $ 1,053 $ 292
========== ========= ===========

Average Assets $1,617,736 $278,475 $ 4,900

Intersegment
Other Elimination Consolidated
--------- ------------ ------------
Net interest income $ (570) $ - $ 20,068
Provision for loan losses - - 755
Non-interest income 24 - 10,619
Non-interest expense 1,261 - 24,672
Provision for income taxes (623) - 1,553
--------- ------------ ------------
Net income (loss) $ (1,184) $ - $ 3,707
========= ============ ============

Average Assets $167,955 $ (438,667) $ 1,630,399
*T

Cardinal Financial Corporation
Bernard H. Clineburg
Chairman, Chief Executive Officer
or
Mark A. Wendel
EVP, Chief Financial Officer
703-584-3400

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