Exhibit 99.2

Typical Community Bank Shareholder

Profile vs. NWFI

	Institutional Holders	Retail Holders	Insiders2
New England Banks & Thrifts1	23.6%	60.2%	11.3%
Peer Group1	13.8%	72.5%	11.6%
NWFI	18.9%	64.1%	17.0%

1 - Median values for each group are shown above.

2 - Includes stock options.

Average Daily Trading Volume (over 1 year)

	New England Banks & Thrifts	Peer Group	NWFI
Shares	9,569	2,428	508
% of Shares Outstanding	0.12%	0.05%	0.03%

Average Shares Held per Shareholder

	New England Banks & Thrifts	Peer Group	NWFI1
Shares	6,841	5,015	1,321
% of Shares Outstanding	0.08%	0.11%	0.09%

1 - If we eliminate holders under 20 shares, then this becomes 1,478 and 0.10%, respectively.

Local Ownership

Most of the peer group members ($500 million - $1.3 billion) have 75% - 80% held by local investors. This is comparable to Northway’s 58% position. Typically, larger banks start to experience declines in local ownership composition as the size exceeds $2 billion in assets, dropping to 70% held by local investors.

Largest Holders/ Concentrations

Using the most recent proxy statements of each bank and thrift in Northway’s peer group, we found that almost half of the banks and thrifts do not have any principal holders (which own 5% or more of the company’s stock), excluding management and directors. The table on the following page shows the percentages held by non-insider, principal holders, as well as the number of non-insider, principal holders, of each company’s stock.

Peer Group for Northway Financial

 

Peer Group for Northway Financial (continued)

   

Principal Holders