Exhibit 99.2

QUARTERLY PERFORMANCE SUMMARY

StellarOne Corporation (NASDAQ: STEL)

(Dollars in thousands, except per share data)

	For the Three Months Ended						Percent Increase (Decrease)
	3/31/2008			3/31/2007
INCOME STATEMENT
Interest income - taxable equivalent	$	31,114		$	25,496		22.03	%
Interest expense		13,113			10,592		23.80	%
Net interest income - taxable equivalent		18,001			14,904		20.78	%
Less: taxable equivalent adjustment		486			549		-11.48	%
Net interest income		17,515			14,355		22.01	%
Provision for loan and lease losses		953			165		>100.00	%
Net interest income after provision for loan and lease losses		16,562			14,190		16.72	%
Noninterest income		5,165			3,828		34.93	%
Noninterest expense		19,038			12,287		54.94	%
Provision for income taxes		602			1,713		-64.86	%
Net income	$	2,087		$	4,018		-48.06	%
PER SHARE DATA
Basic earnings	$	0.14		$	0.37		-62.16	%
Diluted earnings	$	0.14		$	0.37		-62.16	%
Shares outstanding		22,577,687			10,791,669
Weighted average shares -
Basic		15,077,544			10,789,966
Diluted		15,156,260			10,820,955
Dividends paid on common shares	$	0.16		$	0.16
PERFORMANCE RATIOS
Return on average assets		0.40	%		1.01	%	-60.40	%
Return on average equity		3.81	%		10.77	%	-64.62	%
Return on average realized equity (A)		3.85	%		10.72	%	-64.09	%
Net interest margin (taxable equivalent)		3.75	%		4.05	%	-7.41	%
Efficiency (taxable equivalent) (B)		80.41	%		65.58	%	22.61	%
ASSET QUALITY
Allowance for loan losses
Beginning of period	$	15,082		$	14,500
Provision for loan losses		953			165
Charge offs		(618	)		(211	)
Recoveries		81			47
Net charge-offs		(537	)		(164	)
Allowance acquired via acquisition		11,539
End of period	$	27,037		$	14,501
Non-performing assets:
Non-accrual loans	$	24,959		$	2,709
Loans 90+ days past due and still accruing		327			-
Foreclosed assets		5,617			38
Troubled debt restructurings		789			-
Total non-performing assets	$	31,692		$	2,747
to total assets:		1.02	%		0.17	%
to total loans plus foreclosed assets:		1.37	%		0.23	%
Allowance for loan losses to total loans		1.17	%		1.19	%
Net charge-offs (recoveries)	$	537		$	164
Net charge-offs to average loans outstanding		0.13	%		0.05	%

NOTES:

(A) Excludes the effect on average stockholders’ equity of unrealized gains (losses) that result from changes in market values of securities and other comprehensive pension expense.

(B) Computed by dividing non-interest expense by the sum of net interest income and non- interest income, net of gains or losses on securities, fixed assets and foreclosed assets. This is a non-GAAP financial measure, which we believe provides investors with important information regarding our operational efficiency. Comparison of our efficiency ratio with those of other companies may not be possible, because other companies may calculate the efficiency ratio differently.

(C) Individual amounts shown above are calculated from actual, not rounded amounts in the thousands, which appear above.

QUARTERLY PERFORMANCE SUMMARY

StellarOne Corporation (NASDAQ: STEL)

(Dollars in thousands, except per share data)

							Percent Increase (Decrease)
	3/31/2008			3/31/2007
SELECTED BALANCE SHEET DATA
(Dollars in thousands)
End of period balances
Cash and cash equivalents	$	121,198		$	36,749		>100.00	%
Securities available for sale		417,022			256,578		62.53	%
Securities held to maturity		3,594			3,331		7.90	%
Total securities		420,616			259,909		61.83	%
Real estate - construction		392,546			225,350		74.19	%
Real estate - 1-4 family residential		732,319			313,012		133.96	%
Real estate - commercial and multifamily		850,530			528,702		60.87	%
Commercial, financial and agricultural		230,783			112,455		105.22	%
Consumer loans		83,386			31,176		167.47	%
All other loans		20,759			6,305		229.25	%
Total loans		2,310,323			1,217,000		89.84	%
Deferred loan costs		46			935		-95.08	%
Allowance for loan losses		(27,037	)		(14,501	)	86.45	%
Net loans		2,283,332			1,203,434		89.73	%
Core deposit intangibles, net		11,673			3,707		>100.00	%
Goodwill		75,041			13,896		>100.00	%
Bank owned life insurance		27,882			10,350		>100.00	%
Other assets		173,548			73,108		>100.00	%
Total assets		3,113,290			1,601,153		94.44	%
Noninterest bearing deposits		337,354			240,649		40.19	%
Money market & interest checking		655,297			320,953		>100.00	%
Savings		215,475			96,479		>100.00	%
CD’s and other time deposits		1,160,341			619,674		87.25	%
Total deposits		2,368,467			1,277,755		85.36	%
Federal funds purchased and securities sold under agreements to repurchase		1,136			18,000		-93.69	%
Federal Home Loan Bank advances		240,958			55,000		>100.00	%
Subordinated debt		32,991			20,619		60.00	%
Commercial paper		74,309			63,788		16.49	%
Other borrowed funds		350			493		-29.01	%
Other liabilities		26,492			12,115		>100.00	%
Total liabilities		2,744,703			1,447,770		89.58	%
Total stockholders’ equity	$	368,587		$	153,383		>100.00	%
Accumulated comprehensive loss	$	1,869		$	(686	)	>(100.00	%)
Average balances
	For the Three Months Ended						Percent Increase (Decrease)
	3/31/2008			3/31/2007
Total assets	$	2,100,220		$	1,606,052		30.77	%
Total stockholders’ equity	$	220,319		$	151,311		45.61	%
OTHER DATA
End of period full time employees		908			578

QUARTERLY PERFORMANCE SUMMARY

StellarOne Corporation (NASDAQ: STEL)

(Dollars in thousands)

	For the Three Months Ended					Percent Increase (Decrease)
	3/31/2008			3/31/2007
Interest Income
Loans, including fees	$	27,262		$	21,985	24.00	%
Deposits in other banks		3			6	-50.00	%
Investment securities:
Taxable		2,062			1,834	12.43	%
Tax-exempt		837			943	-11.24	%
Dividends		268			126	>100.00	%
Federal funds sold		196			53	>100.00	%
Total interest income		30,628			24,947	22.77	%
Interest Expense
Deposits		10,205			8,531	19.62	%
Federal funds repurchased and securities sold under agreements to repurchase		55			108	-49.07	%
Federal Home Loan Bank advances		1,907			777	>100.00	%
Subordinated debt		467			417	11.99	%
Commercial paper		479			754	-36.47	%
Other borrowings		—			5	-100.00	%
Total interest expense		13,113			10,592	23.80	%
Net interest income		17,515			14,355	22.01	%
Provision for loan losses		953			165	>100.00	%
Net interest income after provision for loan losses		16,562			14,190	16.72	%
Noninterest Income
Retail banking fees		2,567			1,743	47.27	%
Commissions and fees from fiduciary activities		803			828	-3.02	%
Brokerage fee income		414			256	61.72	%
Other operating income		978			402	>100.00	%
Gains on securities available for sale		32			—	N/A
Losses on sales of foreclosed assets		(500	)		—	N/A
Mortgage banking-related fees		871			599	45.41	%
Total noninterest income		5,165			3,828	34.93	%
Noninterest Expense
Compensation and employee benefits		11,168			6,819	63.78	%
Net occupancy		1,160			874	32.72	%
Supplies and equipment		1,541			1,121	37.47	%
Amortization-intangible assets		161			164	-1.83	%
Marketing		417			249	67.47	%
State franchise taxes		395			244	61.89	%
Data processing		1,084			468	>100.00	%
Telecommunications		289			238	21.43	%
Professional fees		574			150	>100.00	%
Other operating expenses		2,249			1,960	14.74	%
Total noninterest expense		19,038			12,287	54.94	%
Income before income taxes		2,689			5,731	-53.08	%
Income tax expense		602			1,713	-64.86	%
Net income	$	2,087		$	4,018	-48.06	%

STELLARONE CORPORATION

CONSOLIDATED AVERAGE BALANCES, YIELDS AND RATES

THREE MONTHS ENDED MARCH 31, 2008 AND 2007

(Dollars in thousands)

	Three months ended March 31,
	2008						2007
	Average		Interest		Average		Average		Interest		Average
Dollars in thousands	Balance		Inc/Exp		Rates		Balance		Inc/Exp		Rates
Assets
Loans receivable, net	$	1,627,999	$	27,300	6.73	%	$	1,219,094	$	22,026	7.33	%
Investment securities
Taxable		202,373		2,341	4.58	%		174,839		1,960	4.48	%
Tax exempt		84,337		1,287	6.04	%		94,854		1,451	6.12	%
Total investments		286,710		3,628	5.01	%		269,693		3,411	5.05	%
Interest bearing deposits		375		3	3.16	%		626		6	3.83	%
Federal funds sold		17,396		183	4.16	%		3,831		53	5.53	%
		304,481		3,814	4.96	%		274,150		3,470	5.05	%
Total earning assets		1,932,480		31,114	6.46	%		1,493,244		25,496	6.92	%
				31,114
Total nonearning assets		167,740						112,808
Total assets	$	2,100,220					$	1,606,052
Liabilities and Stockholders’ Equity
Interest-bearing deposits
Interest checking	$	305,030	$	1,096	1.44	%	$	159,417	$	63	0.16	%
Money market		131,175		665	2.03	%		179,678		1,256	2.83	%
Savings		127,065		338	1.07	%		96,518		302	1.27	%
Time deposits:
Less than $100,000		513,723		5,298	4.14	%		414,884		4,435	4.34	%
$100,000 and more		255,407		2,808	4.41	%		213,672		2,475	4.70	%
Total interest-bearing deposits		1,332,400		10,205	3.07	%		1,064,169		8,531	3.25	%
Federal funds purchased and securities sold under agreements to repurchase		5,444		54	3.92	%		7,883		108	5.48	%
Federal Home Loan Bank advances		185,516		1,908	4.07	%		62,205		777	5.00	%
Subordinated debt		24,426		463	7.50	%		20,619		417	8.09	%
Commercial paper		74,261		479	2.55	%		63,805		754	4.73	%
Other borrowings		782		4	2.02	%		345		5	5.80	%
		290,429		2,908	3.96	%		154,857		2,061	5.32	%
Total interest-bearing liabilities		1,622,829		13,113	3.23	%		1,219,026		10,592	3.51	%
Total noninterest-bearing liabilities		257,072						235,715
Total liabilities		1,876,094						1,454,741
Stockholders’ equity		220,319						151,311
Total liabilities and stockholders’ equity	$	2,100,220					$	1,606,052
Net interest income (tax equivalent)			$	18,001					$	14,904
Average interest rate spread					3.23	%					3.41	%
Interest expense as percentage of average earning assets					2.71	%					2.88	%
Net interest margin					3.75	%					4.05	%