COMMUNITY BANK LANDSCAPE Minnesota 1St Quarter 2019

COMMUNITY BANK LANDSCAPE Minnesota 1st Quarter 2019

RESEARCH | INVESTMENT BANKING | EQUITY SALES & TRADING | FIXED INCOME | CORPORATE & PRIVATE CLIENT SERVICES TABLE OF CONTENTS

SECTION DESCRIPTION

I. MINNESOTA BANK REGULATORY DATA

II. FIG PARTNERS UPDATE

2 I. MINNESOTA BANK REGULATORY DATA OVERVIEW – MINNESOTA BANK REGULATORY DATA

METHODOLOGY ▪ 7 county regions separated by geographic relevance Northwest

Northeast ▪ Data as of most recent available quarter as of March 31, 2019

▪ Regulatory call report data shown for all banks West Central

Central KEY STATE OBSERVATIONS Twin Cities ▪ Median loan growth of 0.72%

Southwest ▪ Median NIM of 3.87% Southeast

NOTES FOR ALL REGIONS: Note: Texas Ratio = (NPAs + Loans 90+ PD)/ (TCE+LLR) NPAs = Nonaccrual Loans + (Loans 90+ PD ) + Restructured Loans + OREO Nonaccrual loans, Loans 90+ PD and OREO are adjusted to exclude the FDIC guaranteed portion of these assets Source: S&P Global Market Intelligence, Most Recent Available Quarter 4 NORTHWEST MINNESOTA BANKS

Company Information Balance Sheet Highlights Capital Adequacy Asset Quality Financial Performance Total Total MRQ Total MRQ Lns / Leverage RBC NPA/ NPA ex Restr/ Texas LLR/ NCOs/ MRQ MRQ MRQ MRQ Assets Lns Growth Deposits Growth Dep. Ratio Ratio Assets Assets Ratio Loans Loans Net Inc. ROAA N.I.M. Efficiency Name City ($M) ($M) (%) ($M) (%) (%) (%) (%) (%) (%) (%) (%) (%) ($000) (%) (%) (%)

American State Bank of Grygla Grygla $55 $36 14.0 % $49 15.4 % 74.2 % 10.55 % 16.62 % 2.06 % 2.06 % 18.9 % 0.96 % 0.00 % $168 1.26 % 4.02 % 70.0 %

Border State Bank Greenbush 594 452 4.9 514 0.0 88.0 9.58 13.25 1.22 0.77 11.8 1.12 (0.01) 1,338 0.90 3.78 72.6

Citizens State Bank of Roseau Roseau 214 116 (8.7) 186 5.8 62.2 13.21 17.47 1.82 1.46 13.5 1.32 0.00 636 1.21 3.15 63.3

Ctzns Natl Bk of Park Rapids Park Rapids 253 212 (1.6) 220 (20.3) 96.8 11.25 16.29 0.63 0.59 5.0 1.37 0.02 892 1.38 3.95 61.4

First National Bank of Bagley Bagley 87 60 (7.2) 79 1.8 76.0 8.22 12.74 0.42 0.42 4.7 1.32 (0.18) 187 0.86 3.88 74.8

First National Bank of Bemidji Bemidji 668 412 (4.2) 506 4.3 81.5 13.67 19.02 1.04 0.42 7.3 0.58 0.06 2,648 1.63 3.28 53.8

First National Bk of McIntosh McIntosh 26 10 (7.0) 19 (9.0) 51.7 25.83 70.49 0.05 0.05 0.2 2.59 0.00 34 0.51 2.97 82.5

Gary State Bank Gary 14 10 (11.9) 11 3.0 93.8 14.06 19.81 0.01 0.01 0.1 2.69 (0.04) 54 1.58 4.93 70.2

Marshall County State Bank Newfolden 32 7 (17.4) 26 (17.8) 25.9 17.35 95.15 0.71 0.71 3.8 4.87 0.00 84 1.02 2.72 60.2

Northern Sky Bank Crookston 76 41 (4.3) 70 14.1 59.0 8.73 17.72 0.00 0.00 0.0 0.94 0.00 208 1.15 3.14 65.4

Northern State Bank Thief River Falls 334 138 (4.4) 299 14.7 46.0 10.20 26.84 0.31 0.31 2.9 1.73 (0.02) 1,147 1.39 2.86 53.7

Northern State Bank of Gonvick Gonvick 37 7 (17.8) 31 (26.8) 23.4 16.61 96.88 0.49 0.49 2.6 9.52 0.00 96 0.98 3.06 60.5

Northwoods Bank of Minnesota Park Rapids 117 66 8.1 97 (21.9) 67.9 10.74 17.94 1.60 0.97 14.0 1.13 (0.01) 327 1.11 3.74 70.4

Prime Security Bank Karlstad 82 68 (1.4) 70 11.3 97.8 9.38 12.68 1.03 1.03 10.7 0.76 0.00 235 1.18 4.22 71.5

Red River State Bank Halstad 89 68 (8.2) 79 (28.7) 85.9 9.84 15.20 0.47 0.47 4.6 0.90 (0.08) 349 1.60 4.13 60.2

Security Bank USA Bemidji 159 122 (5.2) 134 40.3 90.6 9.29 13.63 0.48 0.43 4.9 1.35 (0.07) 531 1.41 4.38 69.4

Security State Bank of Oklee Oklee 32 12 3.1 27 (18.6) 45.3 15.74 50.07 0.79 0.79 4.6 3.08 (0.06) 62 0.75 2.74 74.1

Security State Bank of Warroad Warroad 98 49 1.5 80 13.7 61.1 18.60 24.07 2.51 2.31 13.0 2.86 0.89 77 0.32 3.77 75.1

Ultima Bank Minnesota Winger 175 169 0.6 151 (12.7) 111.4 10.58 13.44 0.56 0.54 4.8 1.25 0.01 1,062 2.43 4.99 53.1

Average 165 108 (3.5) 139 (1.6) 70.4 12.81 29.96 0.85 0.73 6.69 2.12 0.03 533 1.19 3.67 66.4 Median 89 66 (4.3) 79 1.8 74.2 10.74 17.72 0.63 0.54 4.79 1.32 0.00 235 1.18 3.77 69.4

Source: S&P Global Market Intelligence, Most Recent Available Quarter 5 NORTHEAST MINNESOTA BANKS

American Bank of the North Nashwauk $535 $400 (4.1) % $464 (1.9) % 86.2 % 10.78 % 15.60 % 3.81 % 2.61 % 31.1 % 1.88 % 0.09 % $1,282 0.96 % 3.79 % 68.2 %

Boundary Waters Bank Ely 108 92 (9.6) 76 (34.0) 121.4 12.32 13.82 2.39 2.39 18.7 0.77 (0.03) 208 0.80 4.48 74.9

First National Bank of Buhl Mountain Iron 26 21 (11.1) 23 (13.5) 89.0 7.72 13.81 2.75 2.14 32.7 0.97 0.00 16 0.25 4.36 94.3

First National Bank of Gilbert Gilbert 43 30 14.6 40 20.5 75.4 7.82 15.43 0.03 0.03 0.4 0.88 (0.03) 91 0.87 3.94 77.9

First National Bank of Proctor Proctor 24 13 (1.9) 21 6.0 62.4 10.30 25.59 1.41 1.41 13.2 0.78 0.00 14 0.24 3.74 91.6

First National Bk of Chisholm Chisholm 72 14 (19.4) 66 (2.6) 21.9 9.44 25.15 0.30 0.30 3.2 1.53 0.00 37 0.21 3.24 93.8

First National Bk of Coleraine Coleraine 86 35 0.6 78 (34.1) 44.2 8.24 18.22 0.00 0.00 0.0 0.92 0.00 132 0.62 2.86 74.5

First Natl Bk of Moose Lake Moose Lake 106 82 (6.7) 92 (3.8) 88.5 12.97 17.10 0.95 0.67 6.9 1.02 0.00 502 1.89 4.43 60.4

First State Bank of Bigfork Bigfork 81 65 (5.3) 67 15.0 95.7 10.59 17.06 4.55 4.55 39.6 1.35 0.02 153 0.77 4.42 70.5

Grand Marais State Bank Grand Marais 88 53 (0.2) 76 (15.3) 69.4 8.03 15.67 0.02 0.02 0.2 1.01 0.00 318 1.45 3.52 62.1

Grand Rapids State Bank Grand Rapids 214 143 11.3 179 (5.7) 80.0 10.00 13.84 0.00 0.00 0.0 0.75 0.01 404 0.74 3.76 80.4

Grand Timber Bank McGregor 43 28 7.3 36 (11.3) 78.1 14.07 22.13 4.00 2.46 27.6 2.79 0.51 225 2.36 4.72 58.9

Lake Bank Two Harbors 136 98 (2.6) 122 2.7 80.4 9.37 16.11 0.52 0.52 5.2 1.25 (0.02) 569 1.68 3.72 55.5

Miners NB of Eveleth Eveleth 67 30 3.6 60 (10.4) 49.7 8.13 18.99 0.42 0.42 4.7 0.81 0.00 132 0.79 4.00 80.5

North Shore Bank of Commerce Duluth 272 184 (4.3) 245 (7.2) 75.2 8.94 16.63 0.55 0.06 5.8 1.02 0.00 934 1.39 4.47 76.4

Northern State Bk of Virginia Virginia 72 50 4.2 63 (3.9) 79.4 9.48 15.80 0.02 0.00 0.2 0.97 (0.06) 232 1.31 4.83 66.4

Park State Bank Duluth 134 111 3.4 111 (15.1) 100.5 10.11 14.72 0.36 0.36 3.3 0.38 0.00 646 1.79 5.41 53.2

Republic Bank Inc. Duluth 418 368 (6.3) 321 (1.5) 114.6 11.03 13.13 0.84 0.22 7.1 0.89 (0.01) 1,068 1.02 3.91 62.9

Security State Bank of Aitkin Aitkin 98 57 10.5 85 (10.0) 67.8 12.53 20.55 0.13 0.07 1.0 1.64 0.11 384 1.56 4.25 59.9

Security State Bank of Hibbing Hibbing 133 64 (2.0) 120 (18.6) 53.9 10.33 20.20 2.15 0.98 21.1 1.12 0.11 302 0.90 4.13 64.8

Western National Bank Duluth 110 82 17.7 96 2.9 84.8 10.44 15.33 1.41 1.41 13.3 0.92 0.00 250 0.92 4.40 75.7

Average 136 96 (0.0) 116 (6.8) 77.1 10.13 17.38 1.27 0.98 11.20 1.13 0.03 376 1.07 4.11 71.6 Median 98 64 (1.9) 78 (5.7) 79.4 10.11 16.11 0.55 0.42 5.83 0.97 0.00 250 0.92 4.13 70.5

Source: S&P Global Market Intelligence, Most Recent Available Quarter 6 WEST CENTRAL MINNESOTA BANKS

Community Development Bank FSB Ogema $164 $105 (9.8) % $142 (6.2) % 74.0 % 9.89 % 14.63 % 1.73 % 1.66 % 16.9 % 1.27 % (0.01) % $189 0.46 % 3.77 % 75.8 %

Eagle Bank Glenwood 150 97 (4.9) 128 0.2 75.4 14.23 21.98 0.02 0.02 0.1 2.16 0.00 600 1.61 3.87 62.3

Farmers & Mrchnt State Bk New York Mills 60 28 (26.2) 50 (15.3) 55.7 16.03 29.97 0.00 0.00 0.0 1.54 (0.14) 133 0.88 3.33 73.6

Farmers State Bank of Hoffman Hoffman 29 15 (29.1) 23 (14.2) 62.4 14.08 26.02 0.19 0.19 1.3 1.37 0.00 51 0.71 3.28 78.7

Farmers State Bk of Underwood Underwood 70 51 (6.7) 62 (12.9) 82.8 9.25 13.79 0.31 0.31 3.1 1.36 0.26 353 2.01 4.97 58.6

First National Bank of Henning Ottertail 205 137 (2.3) 178 (4.0) 76.7 12.59 19.56 0.47 0.41 3.5 1.19 0.02 748 1.47 3.66 60.4

First National Bank of Osakis Osakis 68 42 17.1 57 14.5 74.1 13.23 22.05 2.22 1.58 16.2 1.19 0.15 156 0.95 3.72 71.4

First State Bank of Ashby Ashby 35 22 (2.4) 30 (30.6) 72.1 7.67 12.57 0.45 0.45 6.0 0.17 0.00 86 0.98 3.97 62.2

Glenwood State Bank Glenwood 297 275 23.1 250 (8.8) 110.2 9.76 11.12 1.91 1.06 17.9 1.05 (0.01) 1,038 1.41 3.85 65.2

Hometown Community Bank Cyrus 62 49 (2.7) 55 (2.2) 89.7 9.70 13.97 0.13 0.13 1.4 0.47 (0.02) 156 1.02 3.55 42.5

Kensington Bank Kensington 282 206 (6.8) 231 (2.1) 89.0 8.79 11.14 0.85 0.69 9.5 0.51 0.00 426 0.61 4.11 76.3

Lowry State Bank Lowry 52 46 9.3 40 5.2 113.6 11.45 14.14 1.00 0.77 8.4 0.99 0.00 290 2.33 4.87 53.2

Midwest Bank Detroit Lakes 470 429 9.8 393 (13.9) 109.0 9.90 11.46 1.47 1.02 13.9 0.97 0.00 2,649 2.31 4.96 47.1

Northwestern Bank NA Dilworth 140 106 6.1 124 7.5 85.7 10.45 13.79 0.92 0.92 8.4 1.38 0.12 126 0.37 4.24 92.8

Security State Bk Fergus Falls Fergus Falls 127 90 9.0 98 (15.3) 92.2 10.01 12.80 1.00 0.93 9.3 1.01 0.01 368 1.18 3.68 64.7

State Bank of Lake Park Lake Park 38 23 (14.9) 34 7.4 68.3 10.54 20.04 2.36 1.37 19.9 2.03 0.00 143 1.50 4.36 64.9

State Bank of Wheaton Wheaton 82 65 3.6 62 (22.1) 105.1 24.15 30.26 1.53 1.53 6.0 1.76 0.00 520 2.55 4.25 40.7

Union State Bk Browns Vallley Browns Valley 22 8 13.2 19 (17.4) 43.9 10.94 18.93 0.00 0.00 0.0 1.32 0.00 62 1.13 2.81 58.4

United Community Bank Perham 244 159 9.4 213 (4.6) 74.8 11.68 18.05 1.16 0.43 9.2 1.87 (0.01) 592 0.97 3.85 74.2

Valley Premier Bank Hawley 107 64 (5.5) 96 (23.3) 66.2 10.52 17.94 0.32 0.21 3.0 1.01 0.00 305 1.12 3.59 69.5

Vantage Bank Alexandria 28 24 (5.5) 25 (7.3) 95.6 8.99 11.80 0.00 0.00 0.0 1.24 0.00 29 0.42 4.03 88.1

Vergas State Bank Vergas 47 19 (21.9) 40 (3.1) 47.6 15.84 37.08 0.82 0.82 4.9 2.06 (0.02) 69 0.58 2.80 73.6

Viking Bank Alexandria 174 139 2.6 131 (7.0) 105.8 11.22 14.02 0.28 0.28 2.4 1.02 0.00 638 1.45 3.49 56.5

Average 128 96 (1.5) 108 (7.6) 81.3 11.78 18.14 0.83 0.64 7.01 1.26 0.02 423 1.22 3.87 65.7 Median 82 64 (2.4) 62 (7.0) 76.7 10.54 14.63 0.82 0.45 5.99 1.24 0.00 290 1.12 3.85 64.9

Source: S&P Global Market Intelligence, Most Recent Available Quarter 7 CENTRAL MINNESOTA BANKS (1 OF 2)

American Heritage National Bk Long Prairie $352 $256 (3.9) % $307 (12.5) % 83.3 % 10.94 % 15.76 % 0.15 % 0.08 % 1.3 % 1.54 % 0.00 % $1,221 1.36 % 3.70 % 49.6 %

American National Bank of MN Brainerd 293 232 0.4 238 4.1 97.7 10.92 16.06 1.88 1.56 15.3 1.67 0.05 570 0.77 4.14 81.3

Bank of Elk River Elk River 435 290 5.7 394 8.9 73.5 9.42 14.58 0.26 0.25 2.6 1.08 (0.14) 1,381 1.28 3.97 69.8

BankVista Sartell 313 273 14.3 266 42.9 102.8 8.60 10.73 0.88 0.72 9.3 1.37 0.03 548 0.73 3.80 72.3

BANKWEST Rockford 145 97 2.4 129 (10.9) 75.1 10.29 16.67 0.00 0.00 0.0 1.28 0.03 557 1.56 4.34 67.2

Bonanza Valley State Bank Brooten 64 54 7.8 55 8.3 98.0 8.80 11.44 0.64 0.64 6.6 0.89 0.03 93 0.58 4.17 82.8

Brainerd S&L Association Brainerd 68 50 (13.4) 53 4.6 94.0 7.59 12.85 3.13 3.13 39.8 0.80 (0.02) (75) (0.45) 3.49 117.4

Cambridge State Bank Cambridge 77 46 (9.3) 68 (14.7) 66.7 11.45 19.48 1.77 1.69 15.0 0.68 (0.01) 165 0.85 3.99 76.9

Citizens State Bank of Waverly Waverly 75 49 10.0 64 (10.1) 76.3 8.54 13.84 0.00 0.00 0.0 1.10 0.00 312 1.65 4.30 60.6

Community First Bank Menahga 87 49 (7.8) 72 (11.6) 68.0 15.26 27.25 0.00 0.00 0.0 1.34 (0.02) 382 1.76 3.97 59.6

Deerwood Bank Waite Park 713 537 2.9 637 (1.8) 84.4 8.48 11.54 1.01 0.52 11.9 0.43 (0.03) 2,319 1.31 4.54 58.6

Falcon National Bank Foley 493 406 27.9 440 18.8 92.3 9.72 12.32 0.20 0.20 1.9 1.84 0.17 875 0.72 4.58 69.8

Farmers & Merchants State Bank Pierz 221 163 3.0 198 (3.9) 82.2 10.29 14.79 2.62 0.43 24.1 1.15 0.05 965 1.74 4.31 54.8

First National Bank North Walker 543 354 0.7 479 (0.3) 73.8 11.10 18.71 0.25 0.16 2.1 1.44 0.12 2,755 2.07 4.12 52.1

First National Bank of Cokato Cokato 62 42 2.2 57 (1.6) 73.3 8.82 14.77 0.00 0.00 0.0 1.45 0.00 284 1.84 4.22 57.9

First National Bank of Milaca Milaca 210 129 (0.9) 184 (14.8) 69.8 11.66 22.09 1.04 0.71 8.2 1.32 (0.01) 846 1.59 3.81 63.6

First National Bk of Elk River Elk River 270 154 (7.2) 210 5.7 73.6 11.20 16.01 0.49 0.38 4.3 1.00 0.10 318 0.47 3.28 87.2

First State Bank of Swanville Swanville 25 17 (8.0) 21 (14.7) 81.2 15.60 24.26 2.38 0.00 14.4 1.34 (0.02) 34 0.54 4.58 88.3

First State Bank of Wyoming Wyoming 182 65 (1.9) 150 (18.9) 43.6 17.03 38.03 1.45 0.94 8.0 2.69 (0.01) 479 1.05 3.04 61.2

First State Bk of Sauk Centre Sauk Centre 108 81 11.8 93 (15.5) 86.9 12.39 18.23 0.01 0.01 0.0 0.94 0.26 491 1.82 3.87 49.4

Freeport State Bank Freeport 115 89 1.8 99 (0.4) 89.4 10.01 13.34 0.49 0.29 4.6 0.84 (0.02) 285 0.99 4.44 71.3

Granite Community Bank Cold Spring 118 91 (4.5) 106 23.2 85.9 8.58 10.75 1.11 0.46 12.3 1.11 0.00 261 0.93 3.77 73.1

Harvest Bank Kimball 145 107 18.4 130 0.4 82.4 9.18 13.89 1.00 1.00 9.8 1.29 0.00 496 1.38 3.84 63.5

Highland Bank Saint Michael 522 344 14.1 399 3.8 86.3 9.64 13.52 0.00 0.00 0.0 1.37 (0.04) 1,324 1.02 3.85 69.9

Lake Area Bank Lindstrom 333 232 (4.5) 278 11.0 83.2 10.06 13.49 3.17 1.69 30.4 0.86 (0.11) 889 1.08 3.68 79.4

Source: S&P Global Market Intelligence, Most Recent Available Quarter 8 CENTRAL MINNESOTA BANKS (2 OF 2)

Lake Central Bank Annandale 150 77 12.8 129 (11.0) 59.8 12.97 18.27 0.00 0.00 0.0 1.32 (0.01) 859 2.29 3.76 56.2

Liberty Bank Minnesota Saint Cloud 219 106 (6.4) 191 16.7 55.3 11.96 24.65 0.00 0.00 0.0 1.09 0.06 610 1.15 3.29 74.5

Mid-Central FSB Wadena 117 104 (5.4) 103 12.8 101.1 9.06 15.38 0.00 0.00 0.0 0.84 0.11 195 0.68 3.75 83.7

Minnesota Lakes Bank Delano 98 63 19.3 84 (8.8) 75.5 9.63 13.45 0.00 0.00 0.0 0.84 0.00 78 0.32 4.42 85.4

Minnesota National Bank Sauk Centre 201 135 (0.7) 168 (14.9) 80.4 10.32 14.92 0.41 0.30 3.8 1.34 0.03 623 1.25 3.84 69.5

Neighborhood National Bank Mora 219 153 (3.5) 188 (13.1) 81.4 11.59 16.76 0.54 0.54 4.4 1.29 (0.02) 658 1.21 4.05 71.3

Northview Bank Sandstone 318 240 5.6 273 (1.6) 88.0 11.69 15.80 1.57 1.14 12.5 1.25 0.02 1,387 1.77 4.60 64.7

Pine Country Bank Little Falls 169 123 (1.2) 152 (8.0) 81.2 9.63 13.19 2.20 1.46 21.8 1.11 0.21 486 1.15 4.31 65.4

Pine River State Bank Pine River 112 71 4.8 101 (13.8) 69.6 8.89 15.79 1.18 0.60 12.2 1.11 0.00 284 1.00 4.10 74.9

Randall State Bank Randall 46 34 (9.3) 39 (0.9) 88.6 11.41 17.10 3.36 1.91 27.4 1.17 0.00 198 1.72 5.04 62.7

RiverWood Bank Baxter 423 318 7.8 371 13.1 85.7 8.40 12.09 2.37 2.36 25.9 1.27 0.03 787 0.75 3.63 71.8

Sentry Bank Saint Joseph 225 150 (0.0) 178 (7.0) 84.5 8.36 13.36 1.51 1.51 16.9 1.24 0.01 731 1.29 3.66 49.3

Sherburne State Bank Becker 122 88 6.5 112 3.2 78.8 7.73 11.04 2.49 1.66 28.2 1.69 0.22 371 1.23 4.35 62.9

St. Martin National Bank Saint Martin 22 12 (15.1) 19 (7.6) 64.7 14.75 30.74 0.00 0.00 0.0 1.55 0.00 94 1.76 3.60 63.4

Star Bank Maple Lake 288 238 (1.7) 248 (5.0) 95.9 9.81 12.80 0.00 0.00 0.0 1.26 0.01 1,136 1.58 4.33 65.0

State Bank of Cold Spring Cold Spring 61 37 (1.2) 55 (20.8) 67.4 9.60 17.34 1.73 1.30 17.0 0.79 0.00 235 1.50 3.37 61.4

Stearns Bank Holdingford NA Holdingford 92 75 12.8 76 34.2 98.3 17.83 21.08 0.49 0.49 2.7 1.65 0.46 124 0.57 3.29 32.2

Stearns Bank NA Saint Cloud 2,067 1,978 - 1,598 (6.1) 123.8 20.57 21.93 1.34 1.20 5.7 3.23 0.57 12,458 2.45 6.62 50.7

Stearns Bank Upsala NA Upsala 72 59 (1.8) 60 25.1 97.2 17.20 20.62 0.63 0.63 3.6 1.43 0.69 160 0.92 3.22 35.5

Wadena State Bank Wadena 175 109 1.9 155 14.2 70.2 10.87 16.31 0.00 0.00 0.0 1.08 (0.67) 749 1.80 4.10 57.9

Western Natl Bk of Cass Lake Cass Lake 32 18 8.2 29 (40.7) 63.5 8.62 18.52 0.37 0.37 3.9 1.15 (0.04) (4) (0.05) 3.68 101.5

Woodlands National Bank Onamia 201 119 11.7 171 39.1 69.9 12.98 20.42 1.53 1.28 11.9 1.32 0.01 536 1.14 4.29 64.7

Average 243 181 2.3 205 (0.0) 80.9 11.05 16.94 0.97 0.67 8.94 1.27 0.04 862 1.19 4.02 67.3 Median 169 106 0.7 150 (1.6) 81.4 10.29 15.79 0.63 0.46 4.59 1.26 0.00 496 1.21 3.97 65.0

Source: S&P Global Market Intelligence, Most Recent Available Quarter 9 SOUTHWEST MINNESOTA BANKS (1 OF 2)

Adrian State Bank Adrian $49 $41 1.9 % $44 (6.1) % 92.2 % 9.45 % 12.15 % 0.27 % 0.27 % 2.7 % 1.03 % (0.02) % $226 1.85 % 4.26 % 54.6 %

CenBank Buffalo Lake 69 44 18.9 62 (10.3) 70.7 7.83 11.50 0.04 0.04 0.5 1.00 (0.07) 185 1.08 3.85 69.9

Center National Bank Litchfield 194 111 (0.9) 161 (9.7) 68.8 11.58 16.53 0.00 0.00 0.0 1.14 0.00 601 1.24 3.51 66.1

Citizens Alliance Bk Clara City 793 565 11.9 696 3.6 81.1 7.96 10.36 0.79 0.77 9.2 1.31 0.00 3,316 1.71 3.68 56.3

Citizens B&TC Hutchinson 207 144 5.0 189 1.6 76.3 9.14 13.94 2.84 1.02 29.2 1.65 0.00 804 1.56 3.91 57.9

Citizens State Bk of Tyler Inc Tyler 22 5 6.1 20 (27.2) 23.1 9.68 38.13 0.71 0.24 6.7 3.08 (0.53) 36 0.64 3.04 65.3

Concorde Bank Blomkest 59 43 1.6 53 11.5 82.5 10.45 14.43 3.06 2.54 25.9 2.33 (0.03) 167 1.18 4.77 69.3

Currie State Bank Currie 79 75 1.8 69 (10.2) 108.1 9.56 11.79 0.75 0.75 7.0 1.38 (0.04) 283 1.44 5.22 58.3

F & M Bank Minnesota Olivia 125 80 (11.4) 98 (19.3) 81.9 8.81 12.15 1.07 0.83 10.7 1.25 (0.23) 399 1.28 3.87 63.3

Farmers & Merchants State Bank Alpha 41 26 (30.8) 37 (63.6) 71.6 11.10 17.79 2.79 2.79 23.9 1.17 0.00 59 0.58 3.17 75.5

Farmers & Merchants State Bank Sacred Heart 26 14 (4.3) 23 6.1 59.8 10.90 19.98 0.16 0.00 1.3 1.43 0.00 49 0.74 3.34 75.8

Farmers & Merchants State Bk Appleton 44 34 (19.1) 37 (22.6) 90.6 14.02 17.33 1.39 1.39 8.7 2.16 0.00 236 2.11 4.79 46.9

Farmers State Bank of Watkins Watkins 44 20 (6.5) 38 2.2 53.1 12.92 24.38 0.28 0.28 2.2 1.23 0.06 189 1.77 3.93 57.2

Financial Security Bank Kerkhoven 99 84 5.8 75 15.2 111.3 9.62 11.58 0.98 0.89 9.7 0.81 0.00 171 0.71 3.73 79.3

First Community Bank Lester Prairie 61 31 13.2 54 (8.0) 57.2 10.39 18.78 1.21 1.21 11.0 1.28 0.00 117 0.77 3.51 78.7

First Independent Bank Russell 272 205 (13.7) 227 1.8 90.1 11.44 14.61 2.59 2.19 19.8 1.83 0.01 1,146 1.66 4.07 55.7

First National Bank of Fairfax Fairfax 30 18 (6.3) 19 (27.0) 95.3 37.52 38.28 2.42 2.42 6.0 3.02 (0.02) 327 4.20 3.58 36.3

First Security Bank - Canby Canby 68 43 (27.1) 56 (31.4) 77.2 13.39 20.53 0.00 0.00 0.0 1.19 0.00 304 1.77 4.19 52.4

First Security Bank-Hendricks Hendricks 31 13 13.4 28 14.2 47.9 11.55 24.81 0.03 0.03 0.2 2.05 0.00 104 1.32 3.26 63.5

First State Bank of Grove City Grove City 25 15 (6.8) 19 (8.5) 80.3 23.33 43.28 1.15 1.15 4.9 0.63 0.26 79 1.30 4.18 71.1

First State Bank Southwest Worthington 260 148 (1.4) 212 (17.6) 69.6 11.24 18.70 0.36 0.27 3.0 1.64 (0.01) 1,009 1.56 3.86 64.9

Franklin State Bank Franklin 30 19 14.3 25 (6.3) 76.1 15.89 26.19 1.06 0.03 6.5 0.88 0.00 69 0.92 3.34 63.4

Frst Farmers & Mrchnt Natl Bk Luverne 179 159 8.0 147 (4.2) 108.0 16.65 17.24 4.50 3.57 25.5 1.37 0.00 943 2.13 4.89 50.3

Granite Falls Bank Granite Falls 137 71 17.7 102 (14.4) 68.9 10.86 16.77 0.65 0.04 5.4 1.19 (0.06) 581 1.73 3.60 52.2

Heritage Bank NA Spicer 428 334 (11.9) 372 (8.8) 89.7 9.21 12.88 1.84 1.84 18.0 1.31 0.35 747 0.71 4.02 83.7

Source: S&P Global Market Intelligence, Most Recent Available Quarter 10 SOUTHWEST MINNESOTA BANKS (2 OF 2)

Home State Bank Litchfield 150 85 13.8 127 1.7 67.2 10.78 15.84 0.23 0.21 2.0 1.34 0.18 440 1.16 3.71 76.0

HomeTown Bank Redwood Falls 322 232 1.0 264 2.3 87.7 10.05 14.68 0.33 0.33 3.0 1.68 (0.02) 875 1.10 4.34 66.9

Integrity Bank Plus Wabasso 59 44 8.4 51 8.1 86.0 12.61 18.18 2.16 2.16 15.3 2.52 (0.93) 240 1.64 4.86 64.8

Jackson FS&LA Jackson 38 18 5.4 25 2.3 71.6 23.34 40.59 3.15 3.15 13.3 1.58 0.00 37 0.39 2.84 90.6

Lake Region Bank New London 113 59 3.2 100 (6.4) 58.7 9.96 18.96 1.67 1.67 15.8 0.91 (0.10) 323 1.15 4.32 77.5

Minnwest Bank Redwood Falls 1,983 1,654 1.7 1,690 (8.6) 97.9 10.71 13.37 1.40 0.63 11.8 1.51 0.13 4,827 0.97 3.99 61.5

Perennial Bank Darwin 109 32 4.4 99 0.5 32.5 8.71 23.84 0.26 0.26 2.8 1.78 (0.05) 292 1.07 2.99 64.5

Prairie Sun Bank Milan 34 25 7.4 28 (13.4) 87.6 8.32 10.19 0.55 0.55 6.1 1.04 (0.02) 108 1.29 4.77 64.1

PrinsBank Prinsburg 137 98 (1.0) 114 (9.9) 86.0 16.24 22.09 1.80 1.79 9.4 4.55 (1.25) 1,799 5.37 5.77 35.9

Red Rock Bank Sanborn 38 23 (16.8) 32 (20.9) 71.6 7.70 13.95 0.00 0.00 0.0 1.17 0.00 118 1.25 3.77 63.2

Security B&TC Glencoe 514 322 8.5 464 (0.6) 69.4 9.92 16.06 1.74 1.08 16.4 1.72 (0.05) 1,448 1.16 2.89 65.8

State Bank of Bellingham Bellingham 52 44 (26.3) 37 (4.5) 118.8 10.90 15.63 2.04 2.04 16.8 1.10 0.13 375 2.81 4.06 34.3

State Bank of Danvers Benson 45 20 (29.8) 38 (51.5) 52.6 12.54 22.78 0.23 0.23 1.6 2.84 (0.91) 201 1.71 3.52 52.1

State Bank of Jeffers Jeffers 27 17 11.0 24 (11.9) 72.1 12.56 16.51 0.08 0.08 0.6 1.02 0.02 49 0.71 3.37 67.8

State Bank of Lismore Lismore 61 53 (9.4) 46 2.7 116.7 10.44 11.87 0.28 0.28 2.6 0.77 0.00 227 1.52 4.33 62.4

State Bank of Taunton Taunton 50 34 7.8 43 14.7 79.8 10.22 15.12 0.44 0.44 4.1 1.30 (0.09) 78 0.64 3.67 85.1

United Minnesota Bank New London 31 24 3.9 28 (2.0) 86.2 7.61 12.51 0.61 0.61 7.1 1.08 0.00 111 1.44 4.47 67.8

United Prairie Bank Mountain Lake 592 471 (3.1) 504 (3.8) 93.4 9.28 11.47 1.89 1.89 18.9 1.22 0.06 2,294 1.56 4.21 67.3

United Southwest Bank Cottonwood 46 17 (15.4) 42 (20.8) 41.0 8.49 16.62 0.12 0.12 1.3 1.22 0.00 55 0.47 3.27 84.1

Wanda State Bank Wanda 132 90 11.6 108 (14.7) 83.4 16.81 23.14 0.12 0.12 0.7 1.99 0.00 391 1.19 3.15 55.0

Worthington FSB Worthington 76 53 (0.5) 63 6.1 84.3 16.29 39.50 0.31 0.31 1.9 0.41 0.00 139 0.74 3.16 65.4

Average 173 125 (0.8) 148 (8.0) 77.7 12.13 19.07 1.09 0.92 8.47 1.52 (0.07) 578 1.42 3.89 63.9 Median 64 44 1.8 55 (6.4) 80.0 10.75 16.58 0.73 0.58 6.30 1.31 0.00 238 1.27 3.86 64.7

Source: S&P Global Market Intelligence, Most Recent Available Quarter 11 TWIN CITIES REGION BANKS (1 OF 2)

21st Century Bank Loretto $503 $401 7.3 % $444 17.1 % 90.4 % 11.52 % 16.27 % 2.51 % 2.43 % 21.4 % 0.54 % 0.01 % $67 0.05 % 3.30 % 95.7 %

Alliance Bank Saint Paul 603 502 8.6 525 11.7 95.7 11.00 12.77 1.67 1.37 14.0 1.38 (0.06) 4,065 2.71 4.08 67.9

American Equity Bank Minnetonka 47 43 74.2 36 14.4 120.5 14.15 17.11 4.53 4.53 31.7 1.51 0.00 (82) (0.75) 4.11 118.9

American Investors Bank & Mrtg Eden Prairie 74 56 14.5 56 44.7 99.5 12.28 17.82 0.15 0.15 1.2 1.47 (0.03) 88 0.48 3.26 78.6

Ameriprise Bank FSB Minneapolis 25 - NA 1 - 0.0 94.56 333.40 0.00 0.00 0.0 NA NA (1,815) (30.12) 2.90 240.3

Bank of Maple Plain Maple Plain 84 42 (21.2) 68 (17.6) 61.7 13.22 25.00 1.53 1.11 10.9 1.14 (0.01) 358 1.66 3.06 50.1

BankCherokee Saint Paul 271 171 14.1 247 5.5 69.4 8.58 13.62 0.40 0.40 4.4 1.17 0.16 429 0.64 3.82 78.5

Bremer Bank NA Saint Paul 12,560 8,333 8.6 10,480 (3.1) 79.5 9.25 13.24 0.66 0.51 7.0 1.30 0.00 37,580 1.22 3.31 60.7

Bridgewater Bk Bloomington 2,045 1,719 14.1 1,689 20.4 101.8 10.88 12.83 0.09 0.08 0.8 1.20 0.01 7,226 1.44 3.55 43.2

Castle Rock Bank Castle Rock 197 98 10.4 166 (6.9) 58.7 15.19 28.40 1.06 0.82 6.5 2.26 (0.06) 722 1.46 2.83 43.1

Citizens Independent Bank Saint Louis Park 273 182 (5.0) 239 (2.2) 76.1 12.34 18.95 1.17 0.70 8.8 1.71 (0.17) 300 0.44 3.58 85.9

Citizens State Bank Norwood Young America 82 58 3.2 70 0.4 82.7 11.21 16.14 3.87 3.87 33.5 1.12 0.00 408 1.98 5.09 58.7

Commerce Bank Edina 210 178 4.0 172 24.3 103.7 13.13 15.93 1.69 1.32 12.2 1.71 0.03 546 1.09 3.46 55.9

Crown Bank Edina 196 164 (7.2) 166 29.0 99.1 11.08 13.56 0.24 0.08 2.0 1.16 (0.02) (2,584) (5.35) 4.16 214.1

Drake Bank Saint Paul 125 109 (0.4) 95 37.5 114.3 9.16 11.73 3.11 2.89 32.1 0.91 (0.01) 42 0.14 3.52 89.4

Eagle Community Bank Maple Grove 25 21 (11.3) 23 10.1 89.1 8.66 13.86 2.33 2.33 25.4 0.81 0.00 34 0.54 4.71 87.2

Farmers State Bank of Hamel Hamel 133 49 (10.5) 118 1.1 41.1 10.47 24.65 0.00 0.00 0.0 1.37 0.00 357 1.09 2.97 64.2

Fidelity Bank Edina 474 364 39.1 361 (22.2) 100.8 12.50 16.31 0.14 0.14 1.1 1.14 0.14 2,548 2.14 5.88 59.0

First Minnesota Bank Minnetonka 347 124 (2.1) 280 (9.1) 44.4 15.79 28.30 0.56 0.11 3.4 1.43 (0.03) 1,030 1.18 3.36 70.4

First Minnetonka City Bank Minnetonka 220 122 16.7 197 15.0 62.1 10.80 18.67 0.55 0.54 4.9 0.83 0.00 624 1.14 3.35 67.1

First Resource Bank Lino Lakes 190 162 18.3 142 (5.3) 114.2 10.08 14.45 0.20 0.12 1.8 1.09 0.00 461 0.97 3.80 71.5

First State Bank & Trust Bayport 258 181 (7.7) 230 8.2 78.5 8.85 15.21 0.10 0.05 1.1 1.00 0.09 855 1.34 3.73 73.7

First State Bank of Rosemount Rosemount 70 37 5.5 66 (5.8) 56.9 6.58 11.92 1.18 0.60 16.6 0.76 0.38 61 0.34 3.30 84.4

Flagship Bank Minnesota Wayzata 222 184 5.7 197 (10.5) 93.7 9.76 13.13 0.75 0.32 7.0 0.62 (0.05) 639 1.13 4.29 60.6

Gateway Bank Mendota Heights 182 149 19.5 159 5.3 93.7 9.85 13.18 0.00 0.00 0.0 1.34 0.00 686 1.53 3.95 57.6

Key Community Bank Inver Grove Heights 48 29 3.0 43 (15.2) 67.1 10.79 18.47 0.00 0.00 0.0 1.41 0.00 93 0.78 3.95 80.5

Lake Community Bank Long Lake 120 88 19.3 105 6.1 83.6 12.56 16.24 1.10 0.92 8.2 1.57 0.00 372 1.25 3.86 58.8

Source: S&P Global Market Intelligence, Most Recent Available Quarter 12 TWIN CITIES REGION BANKS (2 OF 2)

Lake Elmo Bank Lake Elmo 374 262 14.0 333 5.9 78.6 9.92 15.64 0.61 0.22 5.9 1.42 (0.15) 1,522 1.67 3.88 60.9

Lakeview Bank Lakeville 96 77 (11.8) 81 29.3 94.9 9.51 12.83 0.88 0.88 8.6 1.34 (0.04) 238 1.02 4.36 68.7

Maple Bank Champlin 53 40 (2.7) 42 (17.3) 94.5 11.58 16.04 2.34 0.03 16.2 1.30 0.00 (21) (0.16) 3.91 105.3

MidCountry Bank Minneapolis 806 656 11.1 600 14.6 109.4 12.04 13.52 2.02 0.99 17.2 0.24 0.00 1,316 0.66 4.67 79.5

Minnesota Bank & Trust Edina 657 456 (11.2) 547 (9.8) 83.5 10.59 13.68 1.40 1.40 13.3 1.22 0.00 1,454 0.89 4.21 65.6

New Market Bank Elko New Market 114 72 21.5 104 2.2 69.0 8.20 12.65 1.95 1.15 28.5 1.11 (0.01) 74 0.27 4.10 90.0

North American Banking Co. Roseville 538 359 1.1 487 (25.2) 73.9 9.66 13.39 0.17 0.17 1.7 1.11 0.43 2,729 2.05 3.51 52.5

North Star Bank Roseville 283 191 (1.0) 254 (2.7) 75.0 10.50 14.02 1.46 1.02 13.5 1.10 0.23 802 1.13 3.90 67.2

Northeast Bank Minneapolis 479 403 16.7 390 (0.2) 103.5 10.56 12.87 0.22 0.22 2.0 1.10 (0.05) 2,091 1.75 4.30 59.2

Platinum Bank Oakdale 247 214 (12.5) 199 (30.5) 107.2 9.24 12.78 0.39 0.16 3.7 1.44 0.00 1,086 1.76 4.22 55.4

Premier Bank Maplewood 797 636 14.7 699 21.5 91.0 10.37 12.67 1.11 1.07 10.3 1.10 (0.01) 3,656 1.90 4.01 40.4

Premier Bank Minnesota Farmington 246 197 6.5 217 10.5 90.5 9.98 12.78 1.28 0.90 12.0 1.25 0.06 527 0.87 4.21 74.4

Riverland Bank Jordan 144 128 (6.2) 118 5.2 108.5 12.83 16.24 0.66 0.66 4.7 1.24 0.00 311 0.87 4.11 77.3

Securian Trust Co. NA Saint Paul 15 - NA - NA NA 89.68 101.93 0.00 0.00 0.0 NA NA 30 0.82 3.36 96.4

Security State Bank of Marine Marine On Saint Croix 143 99 (13.5) 128 (2.1) 77.8 10.26 17.58 0.73 0.18 6.5 1.40 (0.01) 787 2.21 4.87 53.7

State Bank of Belle Plaine Belle Plaine 121 52 (3.4) 108 (20.0) 48.3 10.13 21.83 0.23 0.23 2.2 0.84 0.96 223 0.73 3.17 72.6

State Bank of Hamburg Hamburg 25 11 (3.1) 23 (31.3) 47.5 8.24 17.83 1.30 0.04 14.9 1.00 0.00 37 0.59 3.28 80.0

Sunrise Banks NA Saint Paul 1,129 831 8.6 1,030 (1.3) 80.7 8.77 13.26 0.43 0.43 4.4 1.56 0.01 2,255 0.79 4.47 75.6

Tradition Capital Bank Wayzata 800 668 20.5 654 18.8 102.1 8.58 10.38 0.33 0.17 3.6 1.16 0.02 1,151 0.59 3.31 68.2

U.S. Bank NA Minneapolis 467,322 290,342 2.2 359,152 3.2 80.8 8.69 12.31 0.91 0.32 10.1 1.37 0.51 1,698,967 1.49 3.18 53.4

Union B&TC Minneapolis 158 46 15.8 145 21.3 31.7 9.15 21.38 0.00 0.00 0.0 1.57 0.00 242 0.68 3.07 81.2

United Bankers' Bank Bloomington 846 647 (1.3) 733 10.9 88.3 11.87 14.54 0.65 0.41 5.0 1.23 0.01 1,380 0.64 2.90 80.3

Vermillion State Bank Vermillion 560 306 1.0 473 2.2 64.8 15.72 26.87 0.90 0.63 5.6 1.41 (0.01) 3,401 2.48 3.40 29.5

Village Bank Saint Francis 290 223 (19.0) 252 (4.0) 88.8 8.78 12.03 2.46 1.50 25.4 1.12 (0.01) 632 0.86 4.15 81.0

VisionBank Saint Louis Park 88 77 0.7 78 18.4 98.8 10.58 15.40 0.23 0.00 1.9 1.18 0.00 385 1.75 3.89 55.7

Average 9,537 5,972 5.4 7,370 3.4 81.7 13.84 23.76 1.00 0.73 9.10 1.22 0.05 34,238 0.36 3.80 75.8 Median 215 163 3.6 184 2.2 83.6 10.53 14.88 0.70 0.40 6.16 1.21 0.00 537 1.00 3.84 69.6

Source: S&P Global Market Intelligence, Most Recent Available Quarter 13 SOUTHEAST MINNESOTA BANKS (1 OF 3)

1st United Bank Faribault $145 $75 20.9 % $125 4.5 % 59.7 % 10.71 % 16.22 % 0.49 % 0.31 % 4.7 % 0.82 % 0.00 % $466 1.30 % 3.80 % 62.7 %

Americana Community Bank Sleepy Eye 119 91 2.9 104 13.0 87.5 8.18 11.34 2.61 0.91 28.8 1.32 (0.10) 131 0.45 3.98 85.4

Arlington State Bank Arlington 52 22 23.3 45 (23.6) 49.4 10.84 21.43 2.31 2.31 21.0 1.53 0.00 149 1.15 3.59 68.6

Bank of Zumbrota Zumbrota 165 122 (4.3) 135 15.4 90.3 12.71 13.63 1.03 0.71 7.7 1.17 (0.04) 373 0.92 3.59 69.1

Citizens Bank Minnesota New Ulm 410 285 1.8 340 (10.5) 83.9 10.11 11.99 0.57 0.00 5.4 0.82 0.00 672 0.66 3.08 73.5

Citizens State Bk of Glenville Glenville 41 14 (26.2) 36 (2.8) 38.3 11.38 29.70 0.00 0.00 0.0 2.03 0.00 101 0.99 2.95 66.7

Citizens State Bk of Hayfield Hayfield 93 69 (11.6) 83 (15.0) 83.8 8.26 11.98 4.58 4.33 48.7 1.65 0.01 107 0.46 3.97 75.3

Community Bank Mankato Vernon Center 305 276 10.2 272 0.4 101.5 8.56 11.05 1.51 1.51 16.1 1.01 0.01 861 1.14 3.89 59.0

Community Bank Owatonna Owatonna 57 40 8.9 51 4.0 79.2 9.33 12.83 0.58 0.17 5.8 1.08 0.00 50 0.35 3.50 86.1

Community Resource Bank Northfield 304 242 3.5 249 (18.0) 97.4 12.09 16.09 1.08 0.09 8.3 1.30 0.05 944 1.24 4.04 59.9

CornerStone State Bank Montgomery 171 112 (1.2) 150 (6.1) 74.5 11.63 17.77 1.51 1.45 12.4 1.38 (0.03) 632 1.49 3.78 61.5

Elysian Bank Elysian 49 27 (23.5) 44 6.1 62.5 11.10 19.18 1.30 1.03 10.9 1.79 (0.20) 253 2.09 4.35 53.0

ESB Bank Caledonia 110 80 (13.5) 90 (4.5) 89.2 9.68 14.01 2.09 2.09 19.9 1.29 0.00 384 1.40 3.65 61.3

F & M Community Bank NA Preston 136 103 9.1 112 (3.3) 92.1 11.28 14.06 0.19 0.04 1.6 1.39 (0.01) 321 0.97 4.17 75.2

Farmers & Merchants State Bank Springfield 119 89 5.4 100 (22.9) 88.9 8.38 12.09 2.10 1.98 22.7 1.23 0.00 367 1.22 3.94 65.3

Farmers & Merchants State Bank Blooming Prairie 83 65 (3.1) 75 4.9 86.4 8.34 12.89 1.52 1.02 16.6 1.15 0.00 469 2.27 4.44 52.4

Farmers State Bank of Hartland Hartland 156 111 1.8 137 7.3 81.0 11.12 15.36 0.00 0.00 0.0 1.23 0.00 590 1.56 4.20 59.2

Farmers State Bank of Trimont Trimont 62 34 44.6 50 7.7 69.5 15.94 22.14 8.57 8.57 50.9 1.49 (0.10) 292 1.88 3.59 45.9

First Bank Blue Earth Blue Earth 224 154 (12.3) 200 (22.1) 77.1 10.49 15.05 0.36 0.35 3.0 2.00 (1.07) 860 1.52 3.35 56.6

First Farmers & Merchants Bank Cannon Falls 313 227 0.0 264 (18.5) 86.1 13.87 17.96 1.14 1.14 7.8 1.04 (0.01) 1,692 2.16 4.57 55.1

First Farmers & Mrchnt Natl Bk Fairmont 107 88 5.3 80 2.5 109.6 14.52 17.11 3.87 1.82 25.4 1.28 0.00 380 1.45 4.17 63.4

First Financial Bk Winnebago Winnebago 47 32 21.0 34 (7.3) 94.9 14.81 19.62 2.51 2.01 16.1 0.89 0.00 147 1.25 3.66 64.5

First National Bank Minnesota Saint Peter 214 168 10.2 178 (2.4) 94.5 10.94 14.10 1.31 0.90 11.0 1.43 0.02 943 1.78 4.48 64.2

First National Bank of Waseca Waseca 135 110 (2.4) 117 (4.0) 93.8 9.45 12.88 0.36 0.36 3.5 1.31 0.00 496 1.47 4.47 67.8

First National Bk of Le Center Le Center 133 78 (1.9) 117 96.3 66.6 11.57 19.18 1.00 0.92 9.7 1.21 (0.03) 429 1.54 3.47 56.1

First Natl Bk of Northfield Northfield 206 157 (2.0) 181 (5.3) 86.8 9.57 14.00 0.00 0.00 0.0 1.32 0.09 645 1.27 3.77 66.4

First Security Bank Byron 70 46 5.0 63 1.2 72.9 8.46 13.39 0.39 0.39 4.3 1.41 (0.05) 153 0.88 3.61 75.4

First Security Bank-Sleepy Eye Sleepy Eye 181 130 (19.8) 156 (14.7) 83.4 12.28 17.50 0.97 0.97 7.3 1.17 4.25 (441) (0.96) 4.21 57.5

Source: S&P Global Market Intelligence, Most Recent Available Quarter 14 SOUTHEAST MINNESOTA BANKS (2 OF 3)

First Southeast Bank Harmony 100 87 (3.1) 75 (27.4) 116.5 9.08 11.82 2.11 1.69 20.2 1.65 0.00 239 0.97 3.91 73.3

First State Bank Minnesota Le Roy 65 48 14.0 57 (16.8) 83.5 11.13 16.65 3.31 1.52 26.3 1.97 0.00 180 1.10 3.65 68.4

First State Bank of Fountain Fountain 33 17 9.1 28 (18.3) 60.2 9.86 16.94 0.39 0.39 3.6 1.09 0.00 (8) (0.10) 2.78 110.3

First State Bank of Kiester Kiester 19 10 (20.8) 16 (21.0) 62.9 9.67 19.05 0.43 0.43 3.4 1.18 1.19 (59) (1.22) 3.56 149.5

First State Bank of Le Center Le Center 84 61 13.4 73 (9.3) 83.8 11.40 16.86 1.49 0.78 12.2 1.13 0.07 914 4.34 4.24 38.7

First State Bank of Red Wing Red Wing 78 24 15.3 71 (10.4) 34.1 8.70 23.60 0.08 0.08 0.9 0.77 0.00 9 0.05 2.23 97.0

Foresight Bank Plainview 249 191 10.8 209 13.6 91.5 9.46 13.50 2.25 0.38 21.4 1.12 0.00 735 1.20 3.29 63.9

Frandsen Bank & Trust Lonsdale 1,676 1,117 (1.2) 1,433 (5.4) 78.0 8.37 11.37 0.72 0.41 8.7 1.18 (0.03) 6,522 1.55 4.21 66.7

Frost State Bank Frost 50 42 32.5 44 (4.7) 96.8 12.57 16.33 2.65 2.65 18.8 1.70 1.14 105 0.83 3.17 40.4

Frst Farmers & Mrchnt State Bk Brownsdale 75 52 (29.1) 60 (13.8) 85.6 17.97 22.86 0.00 0.00 0.0 1.32 (0.01) 283 1.49 4.40 67.5

Frst Farmers & Mrchnt State Bk Grand Meadow 68 54 2.7 54 5.7 100.2 11.29 14.66 0.00 0.00 0.0 1.42 0.01 210 1.26 4.26 68.4

Frst Natl Bk at Saint James Saint James 30 23 (5.2) 27 (7.1) 84.3 8.51 12.86 0.31 0.31 3.3 1.37 0.07 50 0.65 4.50 84.9

Heritage Bank Minnesota West Concord 52 42 0.8 47 (11.9) 89.5 10.53 16.67 0.49 0.11 4.2 1.46 0.14 83 0.63 4.33 83.2

Home FSB Rochester 722 611 8.4 633 3.2 96.6 11.27 14.31 0.37 0.30 3.0 1.42 0.03 1,762 0.97 4.01 71.4

Janesville State Bank Janesville 68 53 (4.1) 56 (12.5) 95.9 12.96 17.33 0.00 0.00 0.0 1.37 0.01 306 1.80 3.89 53.1

Lake City Federal Bank Lake City 70 51 (5.6) 59 (12.3) 86.7 12.32 22.18 0.22 0.22 1.6 2.27 (0.05) 98 0.56 3.45 78.8

Lake Country Community Bank Morristown 26 14 (12.9) 23 (12.8) 58.4 9.77 18.41 3.73 0.00 34.4 1.71 (0.06) 38 0.58 3.67 78.8

Merchants Bank NA Winona 1,733 1,460 4.6 1,459 5.9 100.1 12.03 13.80 0.00 0.00 0.0 1.31 0.01 4,075 0.94 4.16 70.4

MinnStar Bank NA Lake Crystal 130 110 (1.5) 111 (40.7) 98.7 9.30 12.52 1.17 1.17 11.3 1.36 0.37 179 0.56 4.11 82.9

MN Frst Crdt & Svgs Inc. Rochester 27 23 (6.6) 21 6.0 109.8 15.53 22.78 0.53 0.53 3.1 1.81 (0.34) 35 0.53 5.28 89.0

Nicollet Cnty Bk Saint Peter Saint Peter 168 77 (18.4) 150 (27.1) 51.0 8.06 17.28 0.55 0.25 6.5 1.38 0.45 444 1.06 2.91 61.4

Odin State Bank Odin 45 34 (13.8) 38 (5.8) 88.8 10.62 14.47 6.32 6.32 52.7 1.57 0.18 55 0.48 3.68 67.2

ONB Bank Rochester 97 82 6.1 69 (25.3) 117.9 11.91 14.09 0.00 0.00 0.0 1.14 0.28 307 1.26 4.30 70.2

Ormsby State Bank Ormsby 26 11 13.8 22 (9.0) 51.0 15.10 28.24 0.00 0.00 0.0 1.76 0.00 84 1.29 2.95 60.0

Peoples State Bank of Wells Wells 53 46 (6.6) 47 (16.1) 97.6 10.37 13.24 0.30 0.30 2.7 0.75 0.00 191 1.41 4.12 62.4

Peoples State Bk of Plainview Plainview 262 187 3.2 221 (12.5) 84.4 8.75 13.21 0.71 0.46 7.4 1.04 0.00 878 1.33 3.70 62.8

Pine Island Bank Pine Island 101 81 (5.5) 80 (15.5) 101.8 10.07 15.37 0.20 0.20 1.8 1.17 0.00 620 2.48 3.73 41.3

Source: S&P Global Market Intelligence, Most Recent Available Quarter 15 SOUTHEAST MINNESOTA BANKS (3 OF 3)

Pioneer Bank Mapleton 484 388 (2.7) 422 41.0 92.0 9.61 13.06 1.19 0.90 12.2 1.11 0.75 1,019 0.89 4.22 65.3

Premier Bank Rochester Rochester 221 187 17.9 198 21.5 94.3 10.75 12.10 0.69 0.13 6.6 0.83 0.20 758 1.49 3.89 58.8

Produce State Bank Hollandale 61 36 (24.8) 54 (23.0) 66.9 10.47 17.26 0.00 0.00 0.0 1.18 0.00 292 1.86 3.68 52.6

Profinium Inc. Truman 381 292 (3.2) 325 6.9 90.0 10.27 13.70 1.20 0.86 11.1 1.23 (0.37) 761 0.82 3.73 70.9

ProGrowth Bank Nicollet 118 78 0.2 103 (75.4) 76.2 9.29 16.15 1.74 1.58 16.6 1.36 (0.01) 250 0.82 4.20 72.7

Reliance Bank Faribault 146 119 6.8 121 10.4 97.9 9.96 13.28 2.08 2.08 18.2 1.73 0.26 133 0.36 3.64 65.7

Root River State Bank Chatfield 69 35 (5.2) 61 2.1 58.1 12.51 20.93 0.00 0.00 0.0 0.70 (0.01) 68 0.40 2.93 85.0

Roundbank Waseca 318 231 9.8 252 3.4 91.6 10.84 14.51 1.42 0.90 12.0 1.30 (0.74) 1,545 1.98 3.94 70.3

Rushford State Bank (Inc.) Rushford 53 43 (0.5) 48 (7.8) 89.7 8.90 12.95 2.54 0.70 25.2 1.54 (0.02) 124 0.93 4.54 76.0

Security Bank Minnesota Albert Lea 129 109 3.5 114 (1.3) 95.7 9.74 12.27 0.77 0.77 6.9 1.46 (0.48) 537 1.66 4.47 56.0

Security State Bank of Kenyon Kenyon 56 46 (4.6) 49 (14.9) 94.1 10.99 14.89 8.72 8.45 66.4 1.95 0.00 81 0.56 4.45 81.0

Security State Bk of Wanamingo Wanamingo 65 44 11.2 56 (24.1) 78.3 11.99 17.88 0.05 0.05 0.4 1.83 0.01 261 1.63 3.91 59.3

St. Clair State Bank Saint Clair 96 73 1.7 84 13.2 86.0 11.79 11.43 0.08 0.08 0.6 1.92 0.03 495 2.11 3.57 39.5

State Bank of Ceylon Ceylon 14 3 (23.4) 12 49.1 25.7 13.17 39.36 2.72 2.72 20.9 3.88 (0.26) (19) (0.60) 2.60 132.5

State Bank of Chandler Chandler 44 33 29.4 38 (5.5) 86.3 12.70 17.83 0.29 0.29 2.1 1.61 0.00 122 1.11 4.09 64.0

State Bank of Easton Easton 20 12 (28.1) 15 (6.1) 81.2 12.12 19.13 1.52 1.45 10.7 3.11 (0.51) 56 1.09 3.33 72.7

State Bank of Fairmont Fairmont 113 88 23.7 94 (0.2) 93.5 10.97 14.66 2.92 1.87 24.3 1.71 (0.03) 406 1.46 3.77 55.1

State Bank of Faribault Faribault 208 131 5.5 184 (1.8) 71.2 10.45 13.86 0.92 0.76 7.9 1.75 0.17 296 0.57 4.03 85.9

State Bank of New Richland New Richland 110 93 (4.5) 75 12.8 124.8 9.25 12.06 0.00 0.00 0.0 0.97 (0.01) 592 2.17 3.54 43.7

Sterling State Bank Austin 348 200 8.4 246 (7.7) 81.3 8.78 15.94 0.19 0.14 2.0 1.79 (0.01) 412 0.47 3.11 86.5

Think Mutual Bank Rochester 1,683 1,048 1.3 1,402 8.8 74.8 16.31 28.59 0.00 0.00 0.0 0.40 0.04 3,081 0.75 3.09 74.2

Triumph State Bank Trimont 75 41 (22.1) 67 54.1 61.9 9.07 14.84 1.15 0.91 11.7 1.45 0.00 107 0.57 3.87 74.9

United Farmers State Bank Adams 150 136 0.4 118 (1.8) 114.9 12.21 13.62 0.13 0.13 0.9 1.69 0.01 794 2.12 4.19 47.8

Welcome State Bank Welcome 31 24 (9.7) 27 1.3 89.0 11.03 15.17 0.08 0.08 0.7 1.29 (0.07) 195 2.56 4.30 49.9

WNB Financial NA Winona 415 248 81.1 357 143.6 69.7 9.86 16.08 0.00 0.00 0.0 1.07 0.00 922 0.88 3.77 77.5

Average 197 142 1.6 166 (1.5) 83.4 10.94 16.33 1.28 0.98 10.93 1.41 0.07 551 1.13 3.82 68.6 Median 104 78 0.6 81 (5.0) 86.4 10.73 14.97 0.71 0.40 7.09 1.34 0.00 301 1.13 3.88 66.7

Source: S&P Global Market Intelligence, Most Recent Available Quarter 16 RECENT MIDWESTERN TRANSACTIONS

Sorted by date announced Terms of the Transaction Target Financials Deal Purchase Price to Core Dep. Total NPA/ TCE/ LTM Date Considr Value Tg. Bk Erngs Assets Premium Assets Assets TA ROAA Announced Buyer St. Seller City St. Type ($M) (%) (x) (%) (%) ($M) (%) (%) (%)

05/08/19 Citizens Bancshares Co. MO Summit Bank of Kansas City Lee's Summit MO Mix NA NA NM NA NA $45.4 4.44 11.17 -0.14 05/03/19 Time FSB WI River Cities Bancshares Inc. Wisconsin Rapids WI Mix NA NA NM NA NA $256.3 0.87 15.17 1.55 05/02/19 INTRUST Financial Corp. KS First Newton Bankshares Inc. Newton KS -- NA NA NM NA NA $188.2 1.98 10.25 1.19 05/01/19 First State BancShares Inc. WI Pioneer Bancorp Inc. Auburndale WI -- NA NA NM NA NA $156.2 1.12 10.73 0.91 04/26/19 Pvt Invr - Davis & Minnich OH Anchor Bancorp. Inc. Anchor IL -- NA NA NM NA NA $15.0 0.00 12.43 0.70 04/22/19 Merchants Financial Group Inc MN First Natl Bk of Northfield Northfield MN Cash NA NA NM NA NA $205.6 0.00 9.49 1.21 04/17/19 Lake Shore III Corp. WI First American Bank NA Hudson WI Mix NA NA NM NA NA $124.8 0.60 13.87 0.76 04/10/19 Central Bancompany Inc. MO Liberty Bancorp Inc. Kansas City MO -- $104.8 NA NM 19.4 NA $540.6 NA NA NA 04/10/19 Walsh Financial Inc. MN First National Bank of Buhl Mountain Iron MN Cash NA NA NM NA NA $26.3 2.25 7.47 0.09 04/02/19 Midland States Bancorp Inc. IL HomeStar Financial Group Inc. Manteno IL -- $9.9 95.0 7.1 2.6 0.0 $375.4 1.28 7.98 1.16 03/30/19 First Hldg Co of Cavalier Inc ND Northern Sky Bank Crookston MN Mix NA NA NM NA NA $73.7 0.00 8.62 1.31 03/25/19 ChoiceOne Financial Services MI County Bank Corp Lapeer MI -- $89.0 150.5 NM 14.4 5.7 $616.6 NA NA NA 03/15/19 Old O'Brien Banc Shares Inc. IA R & J Financial Corp. Inc. Elma IA -- NA NA NM NA NA $77.3 0.00 10.75 2.09 03/11/19 Bethany Bankshares Inc. MO Fairport Bancshares Inc. Maysville MO Cash NA NA NM NA NA NA 0.04 NA -0.29 03/05/19 Katz Capital FL Camp Grove Bancorp Inc. Camp Grove IL Cash NA NA NM NA NA $19.3 2.72 12.75 -0.31 03/05/19 Pella Financial Group Inc. IA Iowa State SB Knoxville IA Mix NA NA NM NA NA $168.3 1.10 8.99 1.47 02/27/19 Sword Financial Corp. WI Markesan Bancshares Inc. Markesan WI -- $6.0 NA NM 4.7 -4.4 $126.8 20.97 8.15 -1.70 02/21/19 German American Bancorp Inc. IN Citizens First Corp. Bowling Green KY -- $68.1 147.9 14.1 14.3 6.8 $476.0 0.30 9.72 1.01 02/20/19 Wintrust Financial Corp. IL Rush-Oak Corp. Chicago IL Mix $46.0 158.1 NM 23.5 16.3 $195.5 1.74 18.13 0.75 02/19/19 Midstates Bancshares Inc. IA Kingsley State Bank Kingsley IA Mix NA NA NM NA NA $191.1 0.76 11.85 1.04 02/12/19 Waterman Acquisition Group IL Waterman State Bank Waterman IL Cash NA NA NM NA NA $35.5 1.84 8.87 1.14 02/01/19 Valley Central MHC OH American SB Middletown OH -- NA NA NM NA NA $42.5 1.15 18.40 0.05

Avg. 54.0 137.9 10.6 13.2 4.9 188.4 2.16 11.31 0.70 Median 57.1 149.2 10.6 14.4 5.7 156.2 1.11 10.73 0.96

Note: Transactions since February 1, 2019 Note: Includes whole bank transactions where 100% equity was acquired; Data as of May 13, 2019 Note: Midwest consists of OH, KY, IN, MI, WI, IL, MO, IA, ND, SD, KS, NE, MN Source: S&P Global Market Intelligence 17 II. FIG PARTNERS UPDATE FIG PARTNERS MISSION

“WE ARE DEDICATED TO COMMUNITY BANKS AND WE EXIST TO BE THE TRUSTED ADVISOR FOR COMMUNITY BANKS AND THEIR INVESTORS ”

Founded in 2003, FIG Partners is a recognized Industry Specific, Client Focused industry expert in our five primary services: M&A

Capital Strategic Raising Advisory

Market Valuation Makers Services

www.figpartners.com Fixed Equity Income Capital Markets

Equity Sales & Research Trading

19 INVESTMENT BANKING AND CAPITAL MARKETS

Capital Mergers & Advisory Markets Acquisitions Services

• Public Equity & Debt • Whole Bank Sales • Valuation Services Offerings • Branch Divestitures • Strategic Planning • Private Placements of Debt & • Acquisition Analysis • Fairness Opinions Equity • Merger of Equals • Distressed Asset Sales • Private Equity Transactions • Change of Control • Succession Planning • Recapitalizations Transactions • Capital Advisory

▪ Providing guidance and maximizing value for clients:1 • Participated in 143 equity capital offerings, helping raise > $4.7 billion of equity capital since inception • Participated in 35 debt capital offerings, helping raise > $800 million of debt capital since inception • Advised on 120 whole bank transactions, totaling > $8.0 billion in transaction value since inception ▪ A seasoned team of more than 17 experienced and veteran professionals: • Involved in over $5.0 billion of equity raises • More than 275 bank transactions throughout the nation • Combined experience of more than 225 years

(1) Updated as of May 8, 2019 Source: S&P Global Market Intelligence, FIG Partners 20 RECENT FIG PARTNERS TRANSACTIONS

Agreed to be Agreed to Acquire Acquired by $31,050,000 $13,000,000 $26,250,000 Initial Public Common Stock Common Stock Offering Offering Offering Financial Advisor Lead Book Runner Sole Placement Agent Sole Placement Agent Financial Advisor May 2019 May 2019 April 2019 April 2019 March 2019

Agreed to Acquire $3,000,000 $16,000,000 $23,000,000 $81,900,000 Subordinated Debt Common Stock Common Stock Offering Offering Offering Initial Public Offering Sole Placement Agent Sole Placement Agent Lead Manager Financial Advisor Co-Manager March 2019 February 2019 February 2019 January 2019 December 2018

Agreed to Merge with Agreed to be $1,500,000 Agreed to be Agreed to Acquire Acquired by Acquired by Subordinated Debt Offering Financial Advisor Sole Placement Agent Financial Advisor Financial Advisor Financial Advisor December 2018 December 2018 December 2018 December 2018 December 2018

Note: Dates are as of announcement date for M&A transactions, unless noted otherwise 21 A NATIONALLY RECOGNIZED CAPITAL RAISING LEADER

▪ Since January 1, 2017, FIG has helped Capital Offerings League Tables < $1.0 Billion Assets¹ Number of raise more than $1.2 billion of equity Rank Advisor Offerings capital, and more than $190 million of National debt capital, successfully completing 40 1FIG Partners LLC 65 equity capital raises and 13 debt capital 2Sandler O'Neill 42 3Stifel / KBW 28 raises

2 ▪ Since Inception, FIG has helped raise more Capital Offerings League Tables < $50.0 Million Offered Capital Offerings League Tables < $1.0 Billion Assets¹ Number of than $4.7 billion of equity capital, and Rank Advisor Offerings more than $800 million of debt capital, National successfully completing 143 equity capital 1Sandler O'Neill 94 raises and 35 debt capital raises 2Stifel / KBW 75 3FIG Partners, LLC 71

$31.1 Million $26.3 Million $63.3 Million $45.0 Million $72.1 Million

Initial Public Common Stock Common Stock Common Stock Initial Public Offering Offering Offering Offering Offering Lead Book Runner Sole Placement Agent Sole Book Runner Sole Placement Agent Lead Book Runner May 2019 April 2019 August 2018 August 2018 May 2018

(1) Preferred and common stock offerings from January 1, 2009 to May 8, 2019 (2) Preferred and common stock offerings < $50M, from January 1, 2011 to May 8, 2019 Source: S&P Global Market Intelligence, FIG Partners 22 A STRONG HISTORY OF CAPITAL RAISING EFFORTS

Date of Company State Symbol Offering/Role Offering Size Offering ▪ Specialization Most Recent FIG Partners Capital Raises Red River Bancshares, Inc. LA RRBI Lead Book Runner $31.1 M May-19 FIG is among the premier investment banking and capital BankFirst Capital Corporation MS Private Sole Placement Agent $13.0 M Apr-19 markets firms focused on serving the needs of small-cap United Bancorporation of Alabama, Inc. AL UBAB Sole Placement Agent $26.3 M Apr-19 financial institutions. Victory Bancorp, Inc. PA VTYB Sub Debt $3.0 M Mar-19 First Southern Bank GA Private Sole Placement Agent $16.0 M Feb-19 FNCB Bancorp, Inc. PA FNCB Lead Manager $23.0 M Feb-19 ▪ Institutional Distribution Mercantil Bank Holding Corporation FL AMTB Co-Manager $81.9 M Dec-18 Grand Mountain Bancshares, Inc. CO GMBB Sub Debt $1.5 M Dec-18 Our Equity Capital Markets team has excellent long-term Embassy Bancshares, Inc. GA Private Sub Debt $5.0 M Dec-18 relationships with leading institutions focused on investing in GrandSouth Bancorporation SC GRRB Sub Debt $10.0 M Nov-18 Pilot Bancshares, Inc. FL PLBN Sole Placement Agent $10.0 M Oct-18 small- and mid-cap banks. Revere Bank MD REVB Co-Manager $47.1 M Sep-18 HarborOne Bancorp, Inc. (MHC) MA HONE Sub Debt $35.0 M Aug-18 ▪ Accredited Investor and Retail Network Select Bancorp, Inc. NC SLCT Sole Book Runner $63.3 M Aug-18 MainStreet Bancshares, Inc. VA MNSB Sole Placement Agent $45.0 M Aug-18 FIG has a deep stable of high net worth and home office Freedom Bancorp, Inc. NJ Private Sub Debt $12.0 M Jun-18 Citizens Community Bancorp, Inc. WI CZWI Senior Placement Agent $65.0 M Jun-18 investors to ensure success on smaller market cap names. First Mid-Illinois Bancshares, Inc. IL FMBH Lead Book Runner $36.0 M Jun-18 First Internet Bancorp, Inc. IN INBK Co-Manager $57.5 M Jun-18 ▪ After Market Support Studio Bank TN Private Sole Placement Agent $46.0 M Jun-18 BayCom Corp. CA BCML Lead Book Runner $72.1 M May-18 Our Sales and Trading desk is a leading market maker in small- Gateway Bank, F.S.B. CA Private Sole Placement Agent $10.5 M May-18 Porter Bancorp, Inc. KY PBIB Financial Advisor $15.0 M Mar-18 cap stocks, often trading far more shares than any of the other Village Bank and Trust Financial Corp. VA VBFC Sub Debt $5.7 M Mar-18 financial institution “boutique” firms. SB Financial Group, Inc. OH SBFG Sole Book Runner $30.0 M Feb-18 First Capital Bancshares, Inc. NC FCPB Financial Advisor $30.0 M Feb-18 Ben Franklin Financial, Inc. IL BFFI Sole Placement Agent $4.5 M Feb-18 ▪ Research Capabilities McHenry Bancorp, Inc. IL Private Sole Placement Agent $23.0 M Jan-18 Coastal Bank & Trust NC Private Sole Placement Agent $8.0 M Jan-18 FIG Research team is a leading provider to community banks First Bancshares, Inc. MS FBMS Co-Manager $58.4 M Oct-17 with coverage of over 100 banks, mostly small-cap, Eagle Bancorp Montana, Inc. MT EBMT Co-Manager $21.7 M Oct-17 FFBW, Inc. WI FFBW Sole Placement Agent $29.5 M Oct-17 throughout the entire nation. Gold Coast Bancorp NY GLDT Sub Debt $13.5 M Sep-17 Fidelity Financial Corporation KS Private Sub Debt $42.0 M Sep-17 ▪ Experienced Deal Team Pilot Bancshares, Inc. FL PLBN Sole Placement Agent $7.5 M Sep-17 First Internet Bancorp IN INBK Co-Manager $55.0 M Sep-17 We will devote significant investment banking resources to FS Bancorp, Inc. WA FSBW Co-Manager $27.6 M Sep-17 ensure the highest level of execution. Our investment bankers Grand Mountain Bancshares, Inc. CO Private Sole Placement Agent $5.6 M Sep-17 Bay Banks of Virginia, Inc. VA BAYK Sole Placement Agent $35.0 M Aug-17 have a tremendous amount of experience leading equity Citizens Community Bancorp, Inc. WI CZWI Sub Debt $15.0 M Aug-17 capital transactions for our clients. Bank of Fincastle VA BFTL Sole Placement Agent $14.3 M Jul-17 RBB Bancorp CA RBB Co-Manager $86.3 M Jul-17 Metropolitan Capital Bancorp, Inc. IL Private Sub Debt $6.0 M Jul-17 Coastal Carolina Bancshares SC CCNB Sole Placement Agent $16.5 M Jun-17 Sussex Bancorp NJ SBBX Co-Manager $30.0 M Jun-17 23 A NATIONALLY RECOGNIZED, LEADING M&A ADVISOR

1 ▪ Since January 1, 2017, FIG has U.S. Bank M&A Advisory League Tables Number of advised on 45 M&A transactions, Rank Advisor Transactions

totaling approximately $4.7 billion Since January 1, 2017 in transaction value 1Sandler O'Neill 117

2Stifel / KBW 95 ▪ Since Inception, FIG has advised 3Hovde Group, LLC 58 on 120 M&A transactions, totaling more than $8.0 billion in 4FIG Partners, LLC 45 transaction value 5Stephens Inc. 39

$751 Million $305 Million $80 Million $1.4 Billion $117 Million

Agreed to be Agreed to Acquire Agreed to Acquire Agreed to be Agreed to Acquire Acquired by Acquired by

Financial Advisor Financial Advisor Financial Advisor Financial Advisor Financial Advisor December 2018 August 2018 July 2018 May 2018 April 2018

(1) Data as of May 8, 2019 Source: S&P Global Market Intelligence, FIG Partners 24 FIG PARTNERS HISTORICAL WHOLE BANK TRANSACTIONS Since its inception in 2003, FIG Partners has advised on 120 community bank deals nationwide. This represents over $8.0 billion in deal value.

Announcement Deal Value Total Assets Announcement Deal Value Total Assets Date Buyer Seller ($M) ($M) Date Buyer Seller ($M) ($M)

05/08/19 Southern States Bancshares, Inc. East Alabama Financial Group, Inc. -- 241.1 06/28/17 Bank of McKenney CCB Bankshares Inc. 19.0 216.1 03/19/19 First Bank Grand Bank NA 19.4 196.9 06/26/17 BayCom Corp. Plaza Bank 10.6 69.7 01/22/19 Citizens Community Bancorp, Inc. F. & M. Bancorp of Tomah Inc. 21.6 194.6 06/01/17 Charter Financial Corporation Resurgens Bancorp 26.3 166.8 12/20/18 CCF Holding Company Heritage Bncp, Inc./ Providence Bk 105.0 628.7 05/04/17 Trona Valley Community Federal Credit Union State Bank -- 37.0 12/17/18 Ameris Bancorp Fidelity Southern Corp. 750.7 4,812.1 05/04/17 Seacoast Banking Corporation of Florida Palm Beach Community Bank 71.3 346.0 12/13/18 Delmar Bancorp Virginia Partners Bank 55.1 420.1 04/24/17 Sierra Bancorp OCB Bancorp 35.5 270.3 12/12/18 Morris State Bancshares, Inc. FMB Equibanc Inc. 23.6 193.0 03/28/17 FNS Bancshares, Inc. Commerce Bancshares Inc. 21.8 159.1 12/10/18 BayCom Corp Uniti Financial Corp. 63.9 325.4 03/17/17 Citizens Community Bancorp, Inc. Wells Financial Corp. 40.2 268.5 11/15/18 BankFirst Capital Corporation FNB Bcshs of Central AL Inc. 47.4 273.2 02/17/17 West Town Bancorp, Inc. Sound Banking Co. 22.9 185.3 09/13/18 Park National Corporation CAB Financial Corp. 141.8 730.7 02/06/17 First Busey Corporation First Community Finl Partners 242.0 1,268.2 08/23/18 Lakeland Bancorp, Inc. Highlands Bancorp Inc. 56.7 487.9 12/15/16 BayCom Corp. First ULB Corp. 36.9 452.6 08/22/18 First Busey Corporation Banc Ed Corp. 304.9 1,853.1 12/13/16 Southern National Bancorp of Virginia, Inc. Eastern Virginia Bankshares 180.9 1,314.9 08/13/18 BayCom Corp Bethlehem Financial Corp 23.5 156.8 11/15/16 Little Bank, Inc. Union Banc Corp. 30.7 299.5 07/24/18 First Bancshares, Inc. FMB Banking Corp. 80.0 480.4 11/03/16 Bay Banks of Virginia, Inc. Virginia BanCorp Inc. 31.6 323.6 06/21/18 Citizens Community Bancorp, Inc. United Bank 50.7 280.8 10/20/16 Independent Bank Corp. Island Bancorp Inc 24.5 194.1 06/15/18 Carolina Trust BancShares, Inc. Clover Community Bkshs Inc. 21.5 130.2 07/01/16 North Shore Bank, FSB Layton Park Financial Grp Inc 5.7 122.9 06/12/18 First Mid-Illinois Bancshares, Inc. SCB Bancorp Inc. 70.4 437.8 06/08/16 Farmers & Merchants Bancorp Delta National Bancorp 7.2 106.0 06/07/18 First Midwest Bancorp, Inc. Northern States Financial Corp 91.0 487.1 05/12/16 Coastal Carolina Bancshares, Inc. VistaBank 12.2 110.1 05/18/18 Citizens Bancshares Corporation Regional Bankshares Inc. 11.3 117.0 04/26/16 First Mid-Illinois Bancshares, Inc. First Clover Leaf Fin Corp. 89.5 636.9 05/13/18 Cadence Bancorporation State Bank Finl Corp. 1,373.7 4,892.3 03/14/16 First Community Financial Partners, Inc. Mazon State Bank 8.5 84.6 05/10/18 Stifel Financial Corp. Bus. Bancshares Inc. 127.4 619.5 01/04/16 Sierra Bancorp Coast Bancorp 13.8 146.9 04/23/18 RBB Bancorp First American Intl Corp 116.8 873.4 12/17/15 Pacific Commerce Bancorp ProAmérica Bank 29.8 211.1 04/19/18 Premier Financial Bancorp, Inc. First Bank of Charleston Inc. 27.8 189.2 12/03/15 First Busey Corporation Pulaski Financial Corp. 211.6 1,521.7 03/14/18 HarborOne Bancorp, Inc. (MHC) Coastway Bncp, Inc. 125.6 738.9 12/03/15 Charter Financial Corporation CBS Financial Corp. 58.7 368.7 12/20/17 Heritage Commerce Corp Tri-Valley Bank 31.1 147.2 11/23/15 BNH Financial Community Guaranty Corp. 12.9 115.1 12/13/17 South Atlantic Bancshares, Inc. Atlantic Bancshares Inc. 18.1 87.0 11/10/15 RBB Bancorp TFC Holding Co. 83.2 486.9 12/11/17 Union Savings and Loan Association Hibernia Bancorp Inc 28.0 136.5 10/26/15 Fidelity Southern Corporation American Enterprise Bkshs Inc 26.9 205.4 12/11/17 First Mid-Illinois Bancshares, Inc. First BancTrust Corp. 73.8 465.6 10/21/15 Southern BancShares (N.C.), Inc. Heritage Bankshares Inc. 50.2 340.9 10/24/17 Bangor Bancorp, MHC First Colebrook Bancorp Inc. 45.0 262.4 10/19/15 Bank of the Ozarks, Inc. Community & Southern Hldgs Inc 799.5 3,859.5 09/27/17 Old Line Bancshares, Inc. Bay Bancorp Inc. 127.6 645.9 10/14/15 NCAL Bancorp Commercial Bank of California -- 328.2 09/25/17 First Reliance Bancshares, Inc. Independence Bancshares Inc. 2.6 89.8 08/24/15 Avadian Credit Union American Bank of Huntsville 9.2 123.1 09/18/17 First American Bank Corporation Southport Financial Corp. 44.0 285.3 08/14/15 BNC Bancorp Southcoast Financial Corp. 95.5 505.6 08/16/17 National Commerce Corporation FirstAtlantic Finl Hldgs Inc 107.9 462.4 07/30/15 Glacier Bancorp, Inc. Cañon Bank Corp. 31.7 253.1 08/01/17 PB Financial Corporation CB Financial Corp. 11.2 106.8 07/20/15 HCBF Holding Company, Inc. OGS Investments Inc. 23.5 231.1 07/21/17 Delmar Bancorp Liberty Bell Bank 16.8 147.8 05/14/15 FNB Bancorp America California Bank 21.5 132.6

Source: S&P Global Market Intelligence, FIG Partners 25 We are Dedicated to the Success of Community Banks and Their Investors

RESEARCH | INVESTMENT BANKING | EQUITY SALES & TRADING | FIXED INCOME | CORPORATE & PRIVATE CLIENT SERVICES

ATLANTA – HEADQUARTERS 1475 Peachtree Street NE⚫ Suite 800 ⚫ Atlanta, GA 30309 www.figpartners.com CHICAGO NEW JERSEY WASHINGTON, D.C. LOS ANGELES 20 N Wacker Drive, Suite 2035 75 W. Front Street, Suite 5 6010 Executive Blvd., Suite 503 350 S. Figueroa Street, Suite 550 Chicago, IL 60606 Red Bank, New Jersey 07701 Rockville, MD 20852 Los Angeles, CA 90071

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