COMMUNITY BANK LANDSCAPE South Carolina 1St Quarter 2019

COMMUNITY BANK LANDSCAPE South Carolina 1st Quarter 2019

SECTION DESCRIPTION

I. SOUTH CAROLINA BANK REGULATORY DATA

II. FIG PARTNERS UPDATE

2 I. SOUTH CAROLINA BANK REGULATORY DATA OVERVIEW – SOUTH CAROLINA BANK REGULATORY DATA

METHODOLOGY ▪ 3 county regions separated by geographic relevance Upstate ▪ Data as of most recent available quarter as of March 31, 2019

Midlands ▪ Regulatory call report data shown for all banks

Lowcountry KEY STATE OBSERVATIONS ▪ Median loan growth of 4.79%

▪ Median NIM of 3.67%

NOTES FOR ALL REGIONS: 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 UPSTATE REGION BANKS

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

Abbeville First Bank Abbeville $77 $46 (2.5) % $57 (0.8) % 81.0 % 10.72 % 22.08 % 1.94 % 1.35 % 0.09 % $125 0.65 % 3.38 % 81.1 %

Arthur State Bank Union 505 350 0.9 453 3.5 77.3 9.56 14.89 1.67 0.82 (0.03) 1,356 1.08 4.19 71.1

Bank of Travelers Rest Travelers Rest 762 482 4.1 677 17.3 71.2 9.91 15.47 0.45 1.81 0.06 2,331 1.25 3.50 66.5

Bank of York York 220 88 3.6 188 (26.3) 46.5 12.20 25.37 1.24 0.81 0.17 698 1.26 3.61 58.7

Blue Ridge Bank Walhalla 132 65 15.4 119 (8.0) 54.2 9.61 20.49 1.93 1.88 0.00 232 0.70 3.54 79.2

Carolina Alliance Bank Spartanburg 757 591 (2.3) 632 (2.0) 93.5 10.64 12.71 0.66 0.93 0.00 562 0.29 3.51 86.5

Citizens Building and Loan SSB Greer 136 94 14.6 99 24.7 94.8 21.33 41.79 0.03 0.92 (0.01) 218 0.65 3.22 72.5

Commercial Bank Honea Path 189 67 (0.2) 162 9.6 41.4 14.66 37.96 1.29 1.63 0.03 648 1.40 3.17 57.8

Community First Bank Walhalla 392 281 2.4 342 13.0 82.1 8.85 12.72 1.01 1.28 (0.01) 321 0.33 3.75 89.7

Countybank Greenwood 420 262 1.4 348 10.1 75.4 8.38 13.43 1.05 0.95 (0.02) 929 0.91 3.74 85.0

First South Bank Spartanburg 236 183 5.2 208 (5.2) 88.0 10.51 13.73 4.06 1.26 (0.04) 432 0.73 3.77 80.4

Frst Piedmont FS&LA of Gaffney Gaffney 418 300 6.0 301 11.1 99.6 25.21 38.55 0.31 0.66 0.00 1,728 1.70 5.08 55.4

GrandSouth Bank Greenville 829 676 7.7 731 27.5 92.5 10.57 13.37 0.84 1.40 0.25 2,303 1.16 5.40 64.5

Oconee FS&LA (MHC) Seneca 512 360 3.8 410 7.9 88.0 15.34 28.85 1.08 0.36 0.00 1,027 0.80 3.14 69.0

Peoples Bank Iva 288 155 (4.6) 240 19.6 64.5 12.33 19.40 2.67 1.29 (0.01) 851 1.22 3.60 70.5

Pickens S&L Association FA Pickens 93 52 (9.2) 74 2.2 70.5 11.64 22.85 0.99 1.63 (0.01) 156 0.68 3.43 77.5

Southern First Bank Greenville 2,021 1,743 13.5 1,779 29.4 98.0 9.86 12.08 0.64 0.92 0.00 6,185 1.29 3.53 56.2

Spratt S&L Association Chester 120 35 7.2 91 4.5 38.5 24.36 68.32 0.22 3.33 0.00 183 0.62 2.72 71.7

Woodruff FS&LA Woodruff 90 59 7.8 56 8.9 104.9 33.96 66.81 2.36 1.17 0.00 170 0.73 3.00 66.5

Average 431 310 3.9 367 7.7 76.9 14.19 26.36 1.29 1.28 0.02 1,077 0.92 3.65 71.6 Median 288 183 3.8 240 8.9 81.0 10.72 20.49 1.05 1.26 0.00 648 0.80 3.53 71.1

Source: S&P Global Market Intelligence, Most Recent Available Quarter 5 MIDLANDS REGION BANKS

Anderson Brothers Bank Mullins $812 $674 12.9 % $730 28.1 % 92.3 % 9.43 % 12.55 % 1.02 % 1.81 % 1.57 % $2,030 1.01 % 7.04 % 63.7 %

Bank of Clarendon Manning 281 149 (6.7) 237 12.3 62.7 14.28 23.54 0.66 1.15 (0.01) 990 1.43 3.79 57.3

Carolina Bank & Trust Co. Florence 473 339 4.8 409 (3.7) 83.0 12.31 19.02 1.53 1.37 0.14 1,252 1.03 3.67 61.9

Citizens Bank Olanta 556 374 1.9 487 15.2 76.7 9.67 14.48 0.61 0.88 0.05 1,471 1.08 4.05 68.5

Dedicated Community Bank Darlington 71 45 (5.5) 60 17.4 75.1 9.09 14.42 1.72 0.69 (0.01) 79 0.45 3.76 84.3

Enterprise Bk of SC Ehrhardt 336 190 4.2 312 5.5 61.0 7.55 14.23 5.21 1.52 (0.17) 1,306 1.56 3.61 66.3

Farmers & Merchants Bank of SC Holly Hill 352 91 (5.9) 305 (38.6) 29.9 11.94 45.40 2.05 1.53 0.68 1,170 1.17 3.14 57.3

First Community Bank Lexington 1,097 726 2.2 925 (2.8) 78.5 10.19 14.16 0.57 0.88 0.01 2,688 0.99 3.70 68.9

First National Bank of SC Holly Hill 196 80 9.1 167 6.2 48.2 13.02 30.53 1.13 2.03 0.19 357 0.74 3.66 76.1

First Palmetto Bank Camden 713 482 (3.0) 630 11.7 76.5 11.28 17.65 0.80 1.32 0.00 1,981 1.14 3.34 56.8

First Reliance Bank Florence 602 461 16.0 515 29.7 89.6 9.48 11.64 0.99 0.70 (0.06) 983 0.68 4.11 81.8

Home FS&LA Bamberg 41 34 (3.6) 34 12.0 101.1 13.07 23.08 1.35 0.23 0.17 48 0.48 3.83 89.2

Mutual SB Hartsville 48 33 16.9 34 60.5 96.0 30.91 38.88 0.76 0.62 0.00 (15) (0.14) 3.76 103.7

Pee Dee FSB Marion 37 12 (11.1) 30 4.1 39.1 17.56 42.94 1.13 7.40 0.00 63 0.69 4.07 83.3

Security Federal Bank Aiken 937 438 (1.0) 794 11.5 55.2 9.78 17.38 0.75 2.01 0.44 2,245 0.98 3.43 72.5

Optus Bank Columbia 64 44 8.8 57 10.9 77.8 10.57 17.06 1.47 1.17 (0.16) 40 0.25 3.97 94.3

South State Bank Columbia 15,403 11,179 5.0 11,940 9.3 93.6 10.37 13.17 0.38 0.51 0.02 44,591 1.20 3.89 60.6

Average 1,295 903 2.6 1,039 11.1 72.7 12.38 21.77 1.30 1.52 0.17 3,605 0.87 3.93 73.3 Median 352 190 2.2 312 11.5 76.7 10.57 17.38 1.02 1.17 0.01 1,170 0.99 3.76 68.9

Source: S&P Global Market Intelligence, Most Recent Available Quarter 6 LOWCOUNTRY REGION BANKS

Bank of Greeleyville Greeleyville $91 $60 (3.7) % $80 (14.1) % 74.8 % 11.72 % 19.19 % 1.01 % 0.98 % 0.03 % $385 1.69 % 4.62 % 65.9 %

Bank of South Carolina Charleston 432 278 2.4 376 (7.3) 73.7 11.13 16.58 0.14 1.44 0.34 1,759 1.66 4.43 54.3

Bank of the Lowcountry Walterboro 225 121 10.0 192 16.4 63.0 10.64 18.04 2.03 1.22 0.04 545 1.00 3.67 65.1

Beacon Community Bank Charleston 86 60 163.2 55 149.2 108.5 37.53 50.19 0.00 1.19 0.00 (724) (3.77) 3.31 188.2

CresCom Bank Charleston 3,841 2,615 11.6 2,841 15.4 92.1 12.63 16.32 0.36 0.57 0.02 15,182 1.59 3.95 55.0

Conway National Bank Conway 1,203 511 7.6 961 1.0 53.2 10.01 19.52 0.28 1.24 (0.02) 3,361 1.13 3.17 59.6

Coastal Carolina National Bank Myrtle Beach 395 308 25.9 346 21.8 89.0 10.22 13.36 0.54 0.83 0.00 499 0.52 3.66 78.2

CoastalStates Bank Hilton Head Island 614 465 54.0 543 22.1 85.6 8.97 10.64 1.47 0.63 0.58 29 0.02 4.26 89.3

First Federal of SC FSB (MHC) Walterboro 96 77 27.7 82 37.2 94.0 9.25 17.25 0.05 1.14 0.02 (118) (0.51) 4.03 110.6

Kingstree FS&LA Kingstree 34 23 0.1 28 34.6 81.2 16.84 36.78 1.55 0.85 0.00 33 0.40 2.84 84.6

Palmetto State Bank Hampton 558 193 14.3 455 6.0 42.4 16.31 34.25 1.21 2.14 (0.32) 2,040 1.46 3.44 51.3

Sandhills Bank North Myrtle Beach 176 133 10.9 151 7.3 87.8 10.10 15.29 0.33 0.97 0.00 108 0.25 3.66 90.6

South Atlantic Bank Myrtle Beach 675 549 15.5 589 33.4 93.2 9.21 10.84 0.16 0.83 (0.01) 1,312 0.81 4.24 76.0

Average 648 415 26.1 515 24.8 79.9 13.43 21.40 0.70 1.08 0.05 1,878 0.48 3.79 82.2 Median 395 193 11.6 346 16.4 85.6 10.64 17.25 0.36 0.98 0.00 499 0.81 3.67 76.0

Source: S&P Global Market Intelligence, Most Recent Available Quarter 7 PUBLICLY TRADED SOUTH CAROLINA BANKS

Sorted by Market Capitalization Market Data Financial Highlights

Price to: Div. Weekly Short Insider Institut. LTM Total Total TCE NPAs/ LTM LTM Mkt Cap Closing Tg Bk EPS Yield Volume Interest Own. Own. Return Assets Loans /TA Assets ROAA ROAE Ticker Institution City State Exchange ($M) Price (%) (x) (%) (%) (%) (%) (%) (%) ($M) ($M) (%) (%) (%) (%)

SSB South State Corporation Columbia SC NASDAQ $2,637.1 $75.30 202.7 % 15.2 x 2.1 % 2.4 % 4.1 % 1.9 % 80.5 % -12.4 % $15,406.9 $11,179.4 9.2 0.27 1.24 7.68

CARO Carolina Financial Corp. Charleston SC NASDAQ 832.2 $37.51 187.6 13.9 1.0 1.7 2.0 6.2 56.2 -5.2 3,842.2 2,614.4 12.1 0.34 1.62 10.90

SFST Southern First Bancshares Inc Greenville SC NASDAQ 277.0 $36.90 152.9 12.3 -- 1.0 0.6 7.9 65.7 -21.2 2,014.4 1,743.4 9.0 0.64 1.26 13.79

FCCO First Community Corp. Lexington SC NASDAQ 140.1 $18.28 140.2 12.8 2.4 1.1 1.3 6.6 46.2 -19.8 1,097.4 725.7 9.2 0.56 1.01 10.09

CNBW CNB Corp. Conway SC OTC Pink 120.5 $74.50 103.7 9.3 3.4 0.0 -- 12.1 -- 5.4 1,188.0 501.6 9.7 0.31 1.10 11.51

BKSC Bank of South Carolina Corp. Charleston SC NASDAQ 107.7 $19.52 227.5 15.6 3.3 0.3 0.0 20.9 11.7 -2.7 431.8 277.5 11.0 0.14 1.63 15.82

SFDL Security Federal Corp. Aiken SC OTC Pink 96.0 $32.49 114.3 13.3 1.1 0.0 0.0 56.2 -- 7.6 937.2 438.1 9.0 0.64 0.84 9.61

SABK South Atlantic Bancshares Inc. Myrtle Beach SC OTCQX 93.2 $12.50 125.0 24.0 -- 0.2 0.0 14.3 5.8 -17.2 680.1 552.4 11.1 NA 0.62 5.06

GRRB GrandSouth Bancorporation Greenville SC OTCQX 87.3 $16.85 128.7 12.0 0.0 0.1 0.0 35.2 9.7 5.3 828.5 676.0 8.0 0.57 0.93 12.35

COSO CoastalSouth Bancshares Inc. Hilton Head Island SC OTCQX 61.9 $12.50 NA NA -- 0.0 0.0 87.0 4.5 -32.4 584.1 409.4 10.7 1.63 -0.02 -0.14

FSRL First Reliance Bcshs Florence SC OTC Pink 58.6 $7.05 113.3 18.6 -- 0.2 0.0 17.5 4.8 -2.8 604.4 461.2 8.6 0.98 0.54 5.93

CCNB Coastal Carolina Bcshs Inc. Myrtle Beach SC OTCQX 48.3 $7.85 118.1 24.0 -- 0.1 0.0 21.8 4.7 -2.1 397.5 307.5 NA 0.28 0.59 4.97

FCPB First Capital Bancshares Inc. Bennettsville SC OTC Pink 35.1 $6.90 NA NA 0.0 0.0 0.0 5.9 -- -13.8 88.9 67.0 NA NA NA NA

CFOK Community First Bancorporation Seneca SC OTC Pink 29.8 $7.15 88.0 6.6 -- 0.1 0.0 36.5 0.4 -8.9 381.7 278.9 8.8 1.03 1.28 14.49

Avg. 330.3 141.8 14.8 1.7 0.5 0.6 23.6 26.4 -8.6 2,034.5 1,445.2 9.7 0.62 0.97 9.39 Median 94.6 126.8 13.6 1.6 0.2 0.0 15.9 9.7 -7.1 754.3 481.4 9.2 0.56 1.01 10.09

Note: Market Data as of May 8, 2019 Source: S&P Global Market Intelligence, Most Recent Available Quarter 8 RECENT SOUTHEAST 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 Southern States Bancshares, Inc. AL East Alabama Financial Grp, Inc. Wedowee AL Mix NA NA NM NA NA $241.1 0.99 15.07 1.09

05/06/19 Banco Bradesco SA -- BAC Florida Bank Coral Gables FL Cash 500.0 258.9 16.8 22.0 33.7 2,274.8 1.57 8.49 1.37

05/03/19 MIDFLORIDA Credit Union FL Community Bank & Trust of FL Ocala FL Mix NA NA NM NA NA 733.3 0.09 9.16 1.10

04/30/19 Hancock Whitney Corp. MS MidSouth Bancorp Inc. Lafayette LA Mix 217.0 158.4 NM 12.5 5.8 1,743.4 1.82 8.03 -1.50

04/24/19 CBS Banc-Corp. AL PrimeSouth Bank Tallassee AL Cash NA NA NM NA NA 253.2 0.65 10.04 1.08

04/24/19 First Citizens BancShares Inc. NC Entegra Financial Franklin NC Cash 213.7 154.2 15.2 13.3 8.0 1,636.4 0.91 8.41 0.86

04/24/19 Chambers Bancshares Inc. AR Bank of Dardanelle Bkshs Inc. Dardanelle AR Mix NA NA NM NA NA 134.5 3.61 12.68 0.90

04/18/19 Big Creek Bancshares Inc AR Tyronza Bancshares Inc. Marked Tree AR Mix NA NA NM NA NA 59.6 0.22 10.62 0.83

03/29/19 Dancar Bus. Corp FL Citizens B&TC Atwood TN Cash NA NA NM NA NA 25.3 0.37 9.17 0.73

03/27/19 Power Financial Credit Union FL TransCapital Bank Sunrise FL Cash NA NA NM NA NA 204.1 1.50 18.00 2.44

03/05/19 BancorpSouth Bank MS Summit Financial Entrprs Inc. Panama City FL Mix 100.3 173.1 14.3 21.3 11.5 471.9 0.75 11.71 1.58

03/01/19 F & M Bancshares Inc. TN Chester County Bancshares Inc. Henderson TN Cash NA NA NM NA NA 111.9 NA 11.08 NA

02/26/19 Commerce Bancorp Inc MS Peoples Commerce Corp. North Carrollton MS Stock NA NA NM NA NA 71.7 0.00 15.15 1.24

02/25/19 Investor Group FL First City Bank of Florida Fort Walton Beach FL Cash NA NA NM NA NA 157.9 23.31 2.50 -0.54

02/25/19 Stone Bancshares Inc. AR DBT Financial Corp. De Witt AR Mix NA NA NM NA NA 94.4 6.14 16.49 2.60

02/19/19 FAIRWINDS CU FL Friends Bank New Smyrna Beach FL Mix NA NA NM NA NA 95.3 1.56 10.83 1.27

02/07/19 BB&T Corp. NC SunTrust Banks Inc. Atlanta GA Stock 28,188.3 178.3 11.0 13.1 8.1 215,543.0 1.35 7.56 1.34

02/05/19 United Community Banks Inc. GA First Madison Bank & Trust Athens GA Cash 52.0 171.5 11.4 20.1 14.2 258.3 0.00 11.74 1.96

01/25/19 NB Holdings LLC AL Merit Bancorporation Inc. Huntsville AL Cash 4.3 130.1 NM 14.8 4.1 28.8 3.64 11.35 0.35

01/24/19 Central Florida Educators FCU FL Fidelity Bank of Florida NA Merritt Island FL Cash NA NA NM NA NA 174.4 0.87 17.04 -0.88

Avg. 4,182.2 174.9 13.7 16.7 12.2 11,215.7 2.60 11.26 0.94 Median 213.7 171.5 14.3 14.8 8.1 189.3 0.99 10.96 1.09

Note: Includes whole bank transactions where 100% equity was acquired; Data as of May 8, 2019 Note: Most recent 20 transactions in the Southeast; Southeast consists of AL, AR, FL, GA, LA, MS, NC, SC and TN Source: S&P Global Market Intelligence 9 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

11 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 12 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 13 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 14 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 15 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 16 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 17 We are Dedicated to the Success of Community Banks and Their Investors

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