Regional Bank M&A Activity

Regional Bank M&A Activity March 26, 2018 Financial Institutions M&A Activity

Last Twelve Months Summary Data As Of: March 23, 2018 Data based on sellers' headquarters

No. of Transaction Value Price/ Tangible Book Price/ LTM Earnings Price/ Assets Trans- ($mm) (%) (x) (%) actions Total Avg. Med. Max. Min. Med. Max. Min. Med. Max. Min. Med. Max. Min.

National 252 21,618.1 140.4 57.0 2,189.5 0.2 166.5 404.0 59.9 20.2 39.3 0.0 16.6 44.6 0.5 Southeast 71 10,559.8 199.2 71.3 2,189.5 1.9 165.1 271.2 59.9 21.1 38.6 4.0 16.9 26.9 2.8 Mid-Atlantic 21 1,563.6 86.9 31.8 488.9 2.7 126.7 214.5 82.6 28.3 39.3 7.8 14.3 44.6 4.2 Northeast 11 480.4 68.6 45.0 209.2 10.2 158.3 184.9 109.2 20.8 36.2 14.6 15.2 17.2 9.4 Midwest 86 3,708.4 109.1 49.5 1,005.6 0.2 158.2 404.0 71.6 18.3 34.0 7.2 15.8 28.9 0.5 Southwest 33 1,196.8 74.8 53.6 224.2 14.6 193.0 241.2 115.6 17.8 33.0 10.8 16.3 22.2 12.2 West 30 4,109.3 158.1 62.0 878.3 10.6 204.8 278.2 120.3 23.5 37.6 4.2 18.7 30.1 11.8

No. of Transaction Value Price/ Tangible Book Price/ LTM Earnings Price/ Assets Trans- ($mm) (%) (x) (%) actions Total Avg. Med. Max. Min. Med. Max. Min. Med. Max. Min. Med. Max. Min. Regional Group 117 12,104.6 157.2 59.3 2,189.5 0.2 165.5 271.2 59.9 20.6 39.3 4.0 16.6 44.6 0.5

Alabama 7 359.8 89.9 72.1 195.0 20.6 163.7 169.2 100.9 20.0 23.1 12.9 15.8 20.7 11.5 Arkansas 4 396.8 198.4 198.4 391.3 5.5 131.9 201.2 62.7 18.0 18.0 18.0 10.1 17.5 2.8 Florida 17 3,659.3 244.0 113.6 852.1 29.9 176.0 268.7 136.8 24.8 38.6 16.7 19.1 26.9 14.1 Georgia 8 466.9 155.6 34.9 405.7 26.3 164.5 216.4 154.3 20.1 23.8 17.5 17.8 22.9 15.8 Kentucky 2 NA NA NA NA NA NA NA NA NA NA NA NA 0.0 0.0 Louisiana 4 181.6 45.4 42.2 NA NA 165.9 227.0 131.9 10.7 20.6 9.6 16.7 20.5 13.0 Maryland 4 330.1 82.5 82.0 163.3 2.7 116.0 191.5 93.9 33.8 39.3 28.3 16.1 19.8 4.2 Mississippi 1 NA NA NA NA NA NA NA NA NA NA NA NA 0.0 0.0 Missouri 15 43.2 8.6 7.4 16.0 0.2 138.0 255.2 71.6 16.5 30.8 14.3 11.1 16.3 0.5 North Carolina 10 3,810.7 381.1 143.1 2,189.5 11.2 190.0 241.4 116.2 24.7 31.2 16.4 18.9 26.0 10.1 Pennsylvania 7 242.1 40.4 38.2 90.5 3.5 128.3 214.5 94.8 32.6 38.1 15.8 15.7 44.6 10.1 South Carolina 5 196.1 39.2 25.9 83.3 2.6 165.7 183.3 139.2 10.9 34.6 4.5 16.9 20.8 2.9 Tennessee 6 112.6 37.5 31.8 59.0 21.8 153.2 185.1 116.2 14.8 15.7 4.0 13.0 13.7 12.3 Texas 18 929.4 103.3 85.0 224.2 25.0 194.2 241.2 156.4 18.6 33.0 12.3 18.7 22.2 13.8 Virginia 5 1,226.5 306.6 259.4 699.8 8.0 129.9 271.2 99.0 17.3 26.4 9.8 18.9 24.3 8.8 West Virginia 4 149.6 49.9 49.9 97.8 1.9 156.0 157.0 59.9 NA NA NA 14.5 14.8 7.2 Source: S&P Global Market Intelligence 2 Financial Institutions M&A Activity – Summary Detail

Last Twelve Months Summary Data As Of: March 23, 2018 Data based on sellers' headquarters No. of Transaction Value Price/ Tangible Book Price/ LTM Earnings Price/ Assets Regional Bank and Thrift Mergers Trans- ($mm) (%) (x) (%) actions Total Avg. Med. Max. Min. Med. Max. Min. Med. Max. Min. Med. Max. Min.

Ranked by NPAs/ Total Assets NPAs/ Assets < 1% 57 7,866.7 212.6 84.2 2,189.5 3.5 190.5 271.2 94.8 21.7 38.6 9.8 17.1 44.6 8.8 NPAs/ Assets 1-2% 28 2,787.8 146.7 59.9 852.1 2.7 162.2 262.9 93.9 17.1 34.6 9.6 16.9 26.0 4.2 NPAs/ Assets 2-3% 9 776.8 129.5 82.0 417.5 4.6 124.7 209.2 71.6 33.8 39.3 28.3 16.1 22.1 2.5 NPAs/ Assets > 3% 14 244.3 34.9 5.5 146.1 0.2 159.8 255.2 59.9 4.5 24.8 4.0 7.2 17.2 0.5 NPAs/Assets is NA 9 429.1 53.6 41.4 107.9 11.2 156.0 181.3 135.2 19.7 19.7 19.7 15.9 23.3 10.5

Ranked by Last 12 Months ROAA LTM ROAA < 0% 14 180.9 25.8 2.7 163.3 NA 93.9 255.2 59.9 NA NA NA 2.9 16.8 0.5 LTM ROAA 0%-0.5% 28 1,450.1 80.6 36.5 417.5 NA 144.2 235.3 94.8 31.0 38.6 24.6 16.1 26.0 8.8 LTM ROAA 0.5%-1.0% 38 5,530.9 230.5 84.6 2,189.5 NA 184.1 271.2 126.7 24.3 39.3 12.9 16.4 24.3 10.1 LTM ROAA > 1.0% 33 4,713.2 188.5 75.0 852.1 0.2 188.5 268.7 100.7 16.4 38.1 4.0 17.7 44.6 12.8 LTM ROAA is NA 4 229.5 76.5 97.8 113.6 18.1 157.2 157.4 157.0 NA NA NA 17.8 17.8 17.8

Ranked by TCE Ratio TCE Ratio < 8% 10 1,134.6 162.1 59.0 852.1 2.7 162.6 262.9 62.7 16.7 32.6 15.7 11.4 19.4 2.8 TCE Ratio 8%-10% 33 3,550.2 142.0 66.2 693.9 0.2 169.2 271.2 71.6 20.0 35.0 4.5 15.0 24.3 0.5 TCE Ratio 10%-12% 39 5,742.7 239.3 84.6 2,189.5 2.6 185.3 268.7 116.2 22.5 39.3 4.0 18.2 26.9 2.9 TCE Ratio > 12% 30 1,441.4 84.8 31.3 699.8 1.9 139.2 214.5 59.9 20.3 38.1 9.8 20.1 44.6 7.2 TCE Ratio is NA 5 235.7 58.9 59.9 97.8 18.1 157.2 157.4 157.0 19.6 19.6 19.6 15.1 20.8 12.8

Source: S&P Global Market Intelligence 3 Financial Institutions M&A Activity – Summary Detail

Ranked by Announced Transaction Value Transaction Value < $10mm 9 36.4 4.0 3.5 8.0 0.2 94.8 255.2 59.9 20.3 30.8 9.8 4.2 16.6 0.5 Transaction Value $10mm - $25mm 11 195.3 17.8 17.1 22.1 11.2 139.1 214.5 99.0 18.6 38.1 4.0 13.2 44.6 8.8 Transaction Value $25mm - $50mm 14 478.1 34.1 32.3 49.9 25.9 153.2 191.7 124.7 23.8 38.6 14.8 15.5 20.5 10.1 Transaction Value $50mm - $100mm 18 1,319.4 73.3 73.2 97.8 51.9 185.3 235.3 130.0 17.9 35.0 4.5 16.9 26.0 12.3 Transaction Value > $100mm 25 10,075.4 403.0 224.2 2,189.5 107.9 196.2 271.2 100.9 22.1 39.3 10.1 20.4 26.9 14.5

Ranked by Seller Total Assets Assets < $250mm 69 622.5 157.2 19.8 51.9 0.2 139.2 255.2 59.9 21.6 38.6 4.0 13.9 44.6 0.5 Assets $250mm - $500mm 16 903.6 255.2 59.6 107.9 40.1 182.3 235.3 126.7 17.9 33.0 4.5 17.4 26.0 10.1 Assets $500mm - $1B 17 2,181.8 341.2 124.6 195.0 75.0 186.5 239.6 100.9 19.8 39.3 9.6 16.8 21.8 12.8 Assets > $1B - $10B 13 6,207.1 599.8 417.5 852.1 161.6 216.4 271.2 155.6 21.7 27.4 10.1 21.6 26.9 14.5 Assets >$10B 1 2,189.5 2,189.5 2,189.5 2,189.5 2,189.5 209.6 209.6 209.6 28.2 28.2 28.2 21.7 21.7 21.7

Most Recent Transactions Announced in Last 90 Days 20 770.6 96.3 64.2 405.7 12.6 202.4 235.3 116.2 31.9 38.1 20.1 20.8 44.6 10.1

Source: S&P Global Market Intelligence 4 National Merger Fundamentals - P/TBV Multiples

Total Assets TCE Ratio Total Assets 200 TCE Ratio 250

185.1 177.5

200 212.8 209.6 150 161.5

181.3 185.3 142.7

150 140.1 100

100

Transaction Transaction Value/TBV (%) Transaction Transaction Value/TBV (%)

N/A 0.0 0 0 Total Assets Total Assets Total Assets Total Assets Total Assets TCE Ratio TCE Ratio TCE Ratio TCE Ratio TCE Ratio < $250mm $250mm-$500mm $500mm-$1B $1B-$10B >$10B < 8% 8-10% 10-12% > 12% NA #:143 #:53 #:25 #:28 #:1 #:20 #:90 #:72 #:61 #:9

LTMLTM ROAA ROAA 200 NPAs/Assets 200 NPAs/ Assets

192.3 189.4 185.1

162.2 163.8 150 150 148.4

126.1 119.0 100 105.3 100 103.8

50 50

Transaction Transaction Value/TBV (%) Transaction Transaction Value/TBV (%)

0 0 LTM ROAA LTM ROAA LTM ROAA LTM ROAA LTM ROAA NPAs/Assets NPAs/Assets NPAs/Assets NPAs/Assets NPAs/Assets < 0% 0-0.50% 0.50-0.75% 0.75-1.00% >1.00% < 1% 1-2% 2-3% 3-5% >5% #:22 #:58 #:42 #:41 #:75 #:111 #:52 #:16 #:17 #:8 Transaction Value/TBV figures are medians for all transactions announced in the US during the last 12 months Financial data is as of announcement; Data is unavailable for targets with TCE Ratio NA Source: S&P Global Market Intelligence 5 National Merger Fundamentals - P/E Multiples

Total Assets TCE Ratio Total Assets TCETCE Ratio Ratio 35.0 Total Assets 25.0

30.0 22.5 20.0 28.2 19.8 20.2 25.0 17.8 22.8 15.0 20.0 21.7 20.6 19.4 15.0 10.0

10.0 5.0 5.0 N/A

Transaction Transaction Value/LTM Eanings (x) 0.0 Transaction Transaction Value/LTM Eanings (x) 0.0 0.0 Total Assets Total Assets Total Assets Total Assets Total Assets TCE Ratio TCE Ratio TCE Ratio TCE Ratio TCE Ratio < $250mm $250mm-$500mm $500mm-$1B $1B-$10B >$10B < 8% 8-10% 10-12% > 12% NA #:143 #:53 #:25 #:28 #:1 #:20 #:90 #:72 #:61 #:9

LTM ROAA NPAs/ Assets 35.0 LTMLTM ROAA ROAA 25.0 NPAs/AssetsNPAs/Assets 23.7

30.0 31.0 21.9 20.0 28.3 20.0 25.0

23.5 15.0 20.0 14.4

15.0 16.7 10.0

10.0 5.0

5.0 4.5 Transaction Transaction Value/LTM Eanings (x) Transaction Transaction Value/LTM Eanings (x) N/A 0.0 0.0 0.0 LTM ROAA LTM ROAA LTM ROAA LTM ROAA LTM ROAA NPAs/Assets NPAs/Assets NPAs/Assets NPAs/Assets NPAs/Assets < 0% 0-0.50% 0.50-0.75% 0.75-1.00% >1.00% < 1% 1-2% 2-3% 3-5% >5% #:22 #:58 #:42 #:41 #:75 #:111 #:52 #:16 #:17 #:8 Transaction Value/LTM Earnings figures are medians for all transactions announced in the US during the last 12 months Financial data is as of announcement; Data is unavailable for targets with TCE Ratio NA and LTM ROAA less than 0% Source: S&P Global Market Intelligence 6 M&A Activity - Per State, Last 12 Months

Alabama

Transaction Value/ Trans- LTM Total Total TCE NPAs/ LTM Trans- action Con- Tang. Earn- Assets Assets Ratio Assets ROAA Announce action Completion Value sider- Book ings Assets Acquirer Ticker ($mm) Seller Ticker City ($mm) (%) (%) (%) Date Status Date ($mm) ation (%) (x) (%)

Number of Transactions: 7 Medians: 72.1 163.7 20.0 15.8

BOLC Corp. 140.0 North Alabama Bancshares, Inc. Hazel Green 92.8 12.9 5.41 0.31 3/21/18 A NA U NA NA NA First Bancshares, Inc. FBMS 1,789.6 Southwest Banc Shares, Inc. Mobile 398.4 9.7 1.63 1.10 10/24/17 C 3/1/18 59.9 M 165.9 23.1 15.0 Henderson Bancshares, Inc. 852.8 First Brundidge Bancshares, Inc. Brundidge 93.6 14.6 0.90 0.63 10/2/17 A NA U NA NA NA

FSB LLC NA First Southern Bancshares, Inc. Florence 212.3 9.2 0.96 0.78 6/27/17 C 11/9/17 20.6 C 169.2 12.9 11.5 State Bank Financial Corp. STBZ 4,202.7 AloStar Bank of Commerce Birmingham 944.2 20.5 1.61 1.10 6/15/17 C 9/30/17 195.0 C 100.9 17.1 20.7 Firstbanc of Alabama, Inc. 399.8 Swann Bancshares, Inc. Wedowee 131.6 11.1 2.37 0.83 5/25/17 C 10/1/17 NA U NA NA NA SmartFinancial, Inc. SMBK 1,051.1 Capstone Bancshares, Inc. Tuscaloosa 510.8 10.1 0.65 0.82 5/22/17 C 11/1/17 84.2 M 161.5 23.0 16.5

Arkansas

Number of Transactions: 4 Medians: 198.4 131.9 18.0 10.1

Capital Bancorp, Inc. 160.9 Evergreen Bancshares, Inc. Crossett 35.7 14.3 2.72 0.59 1/10/18 A NA U NA NA NA Simmons First National Corp. SFNC 9,068.3 Heartland Bank Little Rock 199.2 4.4 12.22 -9.53 8/28/17 C 8/28/17 5.5 M 62.7 NA 2.8 Arvest Bank Group, Inc. 17,311.8 Bear State Financial, Inc. BSF Little Rock 2,239.1 8.9 0.84 1.02 8/22/17 A 391.3 M 201.2 18.0 17.5 First National Corp. of Wynne 282.7 Bank of McCrory McCrory 75.6 11.0 3.66 0.50 7/17/17 C 10/31/17 NA U NA NA NA

Source: S&P Global Market Intelligence 7 M&A Activity - Per State, Last 12 Months, continued

Florida

Number of Transactions: 17 Medians: 113.6 176.0 24.8 19.1

National Commerce Corp. NCOM 2,737.7 Premier Community Bank of Florida Bradenton 201.2 12.9 0.80 0.20 3/20/18 A 51.9 M 199.9 NA 25.8 Achieva Credit Union NA Preferred Community Bank Fort Myers 117.6 11.4 0.54 0.37 2/14/18 A NA U NA NA NA First Citizens BancShares, Inc. FCNCA 34,584.2 HomeBancorp, Inc. Tampa 954.9 7.5 0.13 NA 12/18/17 A 113.6 M NA NA NA First Bancshares, Inc. FBMS 1,788.0 Sunshine Financial, Inc. SSNF Tallahassee 194.1 11.4 NA 0.33 12/6/17 A 32.9 M 148.4 NA 16.9 Banco de Credito e Inversiones SA BCI 32,760.6 TotalBank Miami 3,041.6 11.8 0.79 0.78 12/1/17 A 528.0 C 155.6 22.6 17.4 FCB Financial Holdings, Inc. FCB 10,229.3 Floridian Community Holdings, Inc. Davie 545.1 8.5 0.32 0.69 11/27/17 C 3/1/18 89.2 M 185.3 35.0 16.4 Ameris Bancorp ABCB 7,649.8 Atlantic Coast Financial Corp. ACFC Jacksonville 921.9 9.9 3.81 0.66 11/17/17 A 146.1 M 159.8 24.8 15.9 IBERIABANK Corp. IBKC 27,976.6 Gibraltar Private Bank & Trust Co. Coral Gables 1,578.6 9.1 1.09 0.33 10/19/17 C 3/23/18 228.3 M 159.0 NA 14.5 National Commerce Corp. NCOM 2,418.1 FirstAtlantic Financial Holdings, Inc. FFHD Jacksonville 462.4 12.9 NA 0.84 8/16/17 C 1/1/18 107.9 M 181.3 28.4 23.3 CenterState Bank Corp. CSFL 6,767.5 HCBF Holding Company, Inc. Fort Pierce 1,886.4 10.7 2.17 0.41 8/14/17 C 1/1/18 417.5 M 209.2 NA 22.1 CenterState Bank Corp. CSFL 6,767.5 Sunshine Bancorp, Inc. SBCP Plant City 955.9 10.1 0.14 0.40 8/14/17 C 1/1/18 178.7 M 189.4 NA 18.7 Lake Michigan Credit Union 5,180.3 Encore Bank Naples 396.8 8.6 0.31 0.56 8/7/17 A NA U NA NA NA Valley National Bancorp VLY 23,449.4 USAmeriBancorp, Inc. USAB Clearwater 4,382.9 7.6 1.12 1.15 7/26/17 C 1/1/18 852.1 M 262.9 16.7 19.4 Seacoast Banking Corp. of Florida SBCF 4,769.8 NorthStar Banking Corp. Tampa 211.8 10.2 0.00 0.46 5/18/17 C 10/20/17 29.9 M 136.8 38.6 14.1 Seacoast Banking Corp. of Florida SBCF 4,769.8 Palm Beach Community Bank West Palm Beach 346.0 12.1 1.49 1.66 5/4/17 C 11/3/17 71.3 M 170.8 20.0 20.6 National Commerce Corp. NCOM 2,445.1 Patriot Bank Trinity 155.6 12.4 1.24 0.83 4/24/17 C 8/31/17 31.3 M 162.2 25.0 20.1 Home BancShares, Inc. HOMB 9,808.5 Stonegate Bank SGBK Pompano Beach 2,901.6 10.2 0.70 1.13 3/27/17 C 9/26/17 780.6 M 268.7 22.9 26.9

Georgia

Number of Transactions: 8 Medians: 34.9 164.5 20.1 17.8

LGE Community Credit Union 1,243.9 Georgia Heritage Bank Dallas 94.7 11.7 3.35 4.97 3/22/18 A NA U NA NA NA Ameris Bancorp ABCB 7,649.8 Hamilton State Bancshares, Inc. HMBH Hoschton 1,770.7 10.7 0.39 1.05 1/26/18 A 405.7 M 216.4 20.1 22.9 SRP Federal Credit Union 851.1 Southern Bank Sardis 80.3 11.6 3.97 0.37 11/29/17 A NA U NA NA NA Georgia's Own Credit Union 2,267.1 State Bank of Georgia Fayetteville 95.7 13.3 0.58 1.32 11/10/17 A NA U NA NA NA Entegra Financial Corp. ENFC 1,384.3 Chattahoochee Bank of Georgia Gainesville 196.8 11.5 0.00 0.78 6/27/17 C 10/1/17 34.9 M 154.3 23.8 17.8 WB&T Bankshares, Inc. 585.9 Pelham Banking Company Pelham 78.8 14.1 0.01 1.27 6/15/17 8/25/17 NA NA NA NA Charter Financial Corp. CHFN 1,484.8 Resurgens Bancorp Tucker 166.8 11.0 0.00 1.44 6/1/17 C 9/1/17 26.3 M 164.5 17.5 15.8 Jones Bancshares, L.P. 370.6 Atlantic National Bank Brunswick 165.1 10.9 0.70 1.17 3/27/17 C 9/9/17 NA U NA NA NA

Source: S&P Global Market Intelligence 8 M&A Activity - Per State, Last 12 Months, continued

Kentucky

Evansville Teachers Federal Credit Union 1,456.3 American Founders Bank, Inc. Louisville 113.4 10.7 5.73 -0.01 3/12/18 A NA U NA NA NA Monticello Bankshares, Inc. 693.3 Bluegrass Bancorp, Inc. Danville 56.2 10.1 1.94 -1.17 2/15/18 A NA U NA NA NA

Louisiana

Number of Transactions: 4 Medians: 42.2 165.9 10.7 16.7

Union Savings and Loan Association 82.7 Hibernia Bancorp, Inc. HIBE New Orleans 136.5 15.2 NA 0.26 12/11/17 A 28.0 M 135.2 NA 20.5 Business First Bancshares, Inc. 1,169.1 Minden Bancorp, Inc. MDNB Minden 322.9 15.1 1.02 1.63 10/6/17 C 1/1/18 56.4 M 196.6 10.7 18.6 Home Bancorp, Inc. HBCP 1,574.2 Saint Martin Bancshares, Inc. Saint Martinville 596.4 9.2 1.73 2.10 8/23/17 C 12/6/17 75.0 M 227.0 9.6 13.0 Investar Holding Corp. ISTR 1,225.5 BOJ Bancshares, Inc. Jackson 150.1 12.9 1.95 1.35 8/7/17 C 12/1/17 22.1 M 131.9 20.6 14.7

Maryland

Number of Transactions: 4 Medians: 82.0 116.0 33.8 16.1

MFB Acquisition Corp. NA Maryland Financial Bank Towson 63.8 7.3 1.51 -0.82 12/8/17 A 2.7 C 93.9 NA 4.2 Old Line Bancshares, Inc. OLBK 1,794.3 Bay Bancorp, Inc. BYBK Columbia 645.9 10.4 2.17 0.57 9/27/17 A 127.6 M 191.5 39.3 19.8 Howard Bancorp, Inc. HBMD 1,104.3 1st Mariner Bank Baltimore 975.2 8.8 2.07 -0.25 8/15/17 C 3/1/18 163.3 M 116.0 NA 16.8 Community Financial Corp. TCFC 1,392.7 County First Bank CUMD La Plata 236.2 NA 2.97 0.57 7/31/17 C 1/1/18 36.4 M NA 28.3 15.4

Source: S&P Global Market Intelligence 9 M&A Activity - Per State, Last 12 Months, continued

Mississippi

Commerce Bancorp, Inc 394.9 Tallahatchie Holding Company Charleston 57.9 10.7 0.84 0.62 12/21/17 C 3/1/18 NA U NA NA NA

Missouri

Number of Transactions: 15 Medians: 7.4 138.0 16.5 11.1

Stark Bancshares Inc. NA Farmers Financial Corp. Bolivar 62.9 17.0 3.27 0.36 2/27/18 A NA U NA NA NA OakStar Bancshares, Inc. 715.0 First National Bank Camdenton 194.2 17.7 1.29 0.68 2/21/18 A NA U NA NA NA Liberty Bancorp, Inc. LBCP 452.3 Lawson Financial Corp. Lawson 125.5 10.4 0.37 0.50 1/12/18 A NA U NA NA NA Caldwell County Bancshares, Inc. 127.3 Horizon State Bank Cameron 20.2 7.9 1.73 0.73 12/29/17 C 3/9/18 NA U NA NA NA Community Bancorp, Inc. 955.6 Shelbank Corp. Nevada 139.0 9.5 0.10 1.06 12/22/17 A NA U NA NA NA Equity Bancshares, Inc. EQBK 2,405.4 Adams Dairy Bancshares, Inc. Blue Springs 126.7 9.2 1.52 0.87 12/18/17 A 16.0 M 158.4 16.5 12.7 Grok Bancshares, Inc. NA Clifford Bancshares, Inc. Troy NA NA NA NA 12/6/17 A NA U NA NA NA Guaranty Federal Bancshares, Inc. GFED 759.3 Hometown Bancshares, Inc. Carthage 182.6 9.0 2.34 -0.01 12/1/17 A 4.6 C 71.6 NA 2.5 Reliable Community Bancshares, Inc. 1,377.5 Martinsburg Bancorp, Inc. Martinsburg 200.1 13.5 0.73 1.27 11/2/17 C 2/9/18 NA U NA NA NA Lincoln County Bancorp, Inc. NA New Frontier Bancshares, Inc. Saint Charles 91.5 8.5 4.85 -1.69 10/10/17 C 12/6/17 0.2 C 255.2 NA 0.5 Southern Missouri Bancorp, Inc. SMBC 1,707.7 Southern Missouri Bancshares, Inc. Marshfield 91.1 11.4 0.60 1.15 8/18/17 C 2/23/18 14.9 M 138.0 14.3 16.3 Ozarks Heritage Financial Group, Inc 163.0 Financial Enterprises, Inc. Clinton 70.0 13.0 1.84 0.45 7/11/17 C 10/4/17 7.4 M 111.4 30.8 11.1 Paramount Financial Group, LLC NA Superior Bank Hazelwood 26.4 7.0 9.58 0.15 5/1/17 C 11/10/17 NA U NA NA NA M1 Bancshares, Inc. NA Bank of Macks Creek Macks Creek 23.4 9.8 0.95 0.84 4/14/17 C 7/3/17 NA U NA NA NA Home Savings & Loan Assoc. of Carroll County, F.A. 74.8 Carroll County Savings & Loan Assoc. Carrollton 19.8 17.1 0.65 0.37 4/4/17 C 7/1/17 NA U NA NA NA

Source: S&P Global Market Intelligence 10 M&A Activity - Per State, Last 12 Months, continued

North Carolina

Number of Transactions: 10 Medians: 143.1 190.0 24.7 18.9

Parkway Acquisition Corp. PKKW 548.0 Great State Bank GSTB Wilkesboro 138.7 8.7 0.95 0.34 3/1/18 A 14.1 S 116.2 31.2 10.1 Park National Corp. PRK 7,537.6 NewDominion Bank NDMN Charlotte 321.9 11.1 1.13 0.40 1/23/18 A 76.6 M 235.3 NA 26.0 PB Financial Corp. NA CB Financial Corp. CBFA Wilson 106.8 7.5 NA 0.16 8/1/17 A 11.2 C 140.1 NA 10.5 Select Bancorp, Inc. SLCT 879.6 Premara Financial, Inc. PARA Charlotte 259.2 9.4 0.48 0.31 7/21/17 C 12/15/17 40.1 M 165.1 NA 15.5 United Community Banks, Inc. UCBI 10,731.8 Four Oaks Fincorp, Inc. FOFN Four Oaks 736.7 9.4 0.95 1.00 6/27/17 C 11/1/17 124.6 M 179.2 16.4 16.9 Carolina Financial Corp. CARO 2,182.1 First South Bancorp, Inc. FSBK Washington 1,039.4 8.1 0.61 0.75 6/12/17 C 11/1/17 161.6 M 193.5 21.7 15.5 First Horizon National Corp. FHN 29,618.6 Capital Bank Financial Corp. CBF Charlotte 10,098.0 10.6 0.78 0.81 5/4/17 C 11/30/17 2,190 M 209.6 28.2 21.7 First Bancorp FBNC 4,441.8 ASB Bancorp, Inc. ASBB Asheville 803.5 11.7 1.28 0.24 5/1/17 C 10/1/17 174.8 M 186.5 NA 21.8 South State Corp. SSB 11,150.1 Park Sterling Corp. PSTB Charlotte 3,308.8 8.9 0.46 0.77 4/27/17 C 11/30/17 693.9 M 241.4 27.4 21.0 TowneBank TOWN 7,973.9 Paragon Commercial Corp. PBNC Raleigh 1,503.8 9.1 0.46 0.95 4/27/17 C 1/26/18 324.4 M 238.3 22.1 21.6

Pennsylvania

Number of Transactions: 7 Medians: 38.2 128.3 32.6 15.7

Mid Penn Bancorp, Inc. MPB 1,153.4 First Priority Financial Corp. FPBK Malvern 612.0 7.8 0.37 0.52 1/16/18 A 90.5 M 205.0 32.6 14.8 Juniata Valley Financial Corp. JUVF 599.9 Liverpool Community Bank Liverpool 46.4 21.0 0.33 1.16 12/29/17 A 12.6 M 214.5 38.1 44.6 Advantage Bank NA First Bank of Lilly Lilly 21.0 17.6 0.48 0.19 7/14/17 A 3.5 M 94.8 NA 16.6 Penn Community Mutual Holdings Inc. 1,960.0 Chelten Hills Savings Bank Abington 25.7 13.9 0.14 -0.19 6/2/17 C 10/1/17 NA U NA NA NA Riverview Financial Corp. RIVE 543.0 CBT Financial Corp. CBTC Clearfield 488.1 8.1 1.21 0.66 4/20/17 C 10/1/17 49.2 S 126.7 15.8 10.1 First Bank FRBA 1,073.3 Bucks County Bank BKCS Doylestown 197.8 11.0 2.16 0.29 3/29/17 C 9/15/17 27.2 M 124.7 NA 13.8 Mid Penn Bancorp, Inc. MPB 1,032.6 Scottdale Bank & Trust Company SDLJ Scottdale 263.3 17.3 0.31 0.21 3/29/17 C 1/8/18 59.1 M 130.0 NA 22.5

Source: S&P Global Market Intelligence 11 M&A Activity - Per State, Last 12 Months, continued

South Carolina

Number of Transactions: 5 Medians: 25.9 165.7 10.9 16.9

South Atlantic Bancshares, Inc. SABK 511.7 Atlantic Bancshares, Inc. ATBA Bluffton 87.0 NA NA NA 12/13/17 A 18.1 M 157.4 NA 20.8 First Federal Bancorp, MHC 2,947.5 Coastal Banking Company, Inc. CBCO Beaufort 650.8 NA NA 1.32 11/7/17 A 83.3 M NA 10.9 12.8 First Reliance Bancshares, Inc. FSRL 436.5 Independence Bancshares, Inc. IEBS Greenville 89.8 10.1 3.14 -2.58 9/25/17 C 1/23/18 2.6 M 174.0 NA 2.9 United Community Banks, Inc. UCBI 10,731.8 HCSB Financial Corp. HCFB Loris 384.0 9.4 5.54 2.57 4/20/17 C 7/31/17 66.2 S 183.3 4.5 17.2 First Community Corp. FCCO 914.9 Cornerstone Bancorp CTOT Easley 152.8 12.8 1.68 0.50 4/12/17 C 10/20/2017 25.9 M 139.2 34.6 16.9

Tennessee

Number of Transactions: 6 Medians: 31.8 153.2 14.8 13.0

SmartFinancial, Inc. SMBK 1,135.8 Tennessee Bancshares, Inc. Tullahoma 243.9 10.4 0.59 0.94 12/12/17 A 31.8 S 153.2 14.8 13.0 F & M Bancshares, Inc. 370.1 Merchants & Planters Bancshares, Inc. Bolivar 87.1 12.9 1.22 0.72 9/21/17 A NA U NA NA NA Reliant Bancorp Inc. RBNC 1,004.0 Community First, Inc. Columbia 479.6 6.7 1.27 0.80 8/23/17 C 1/1/18 59.0 S 185.1 15.7 12.3 Commercial Bancgroup, Inc. 932.1 Citizens Bancorp, Inc. New Tazewell 196.8 8.1 1.43 0.67 8/15/17 C 1/1/18 NA U NA NA NA Southeastern Bancorp, Inc. 515.7 Cumberland Bancorp, Inc. Clarksville 175.1 11.9 0.85 1.00 7/21/17 C 1/1/18 NA U NA NA NA FNS Bancshares, Inc. 373.1 Commerce Bancshares, Inc. CBCB Nolensville 159.1 11.8 4.18 3.54 3/28/17 C 8/1/17 21.8 C 116.2 4.0 13.7

Source: S&P Global Market Intelligence 12 M&A Activity - Per State, Last 12 Months, continued

Texas

Charis Holdings, Inc. NA Justin State Bank Justin 71.4 11.8 1.15 1.16 2/24/18 A NA U NA NA NA Hilltop Holdings Inc. HTH 13,373.0 Bank of River Oaks Houston 454.4 10.2 1.84 0.58 2/13/18 A 85.0 C 184.1 33.0 18.7 Guaranty Bancshares, Inc. GNTY 1,962.6 Westbound Bank Katy 228.0 10.7 0.00 0.75 1/29/18 A 34.3 M 191.7 21.6 15.5 BOH Holdings, Inc. NA Dublin National Bank Dublin 29.5 12.1 0.00 0.44 1/10/18 A NA U NA NA NA AIM Bancshares, Inc. 1,045.6 Platinum Bancshares of Texas, Inc. Lubbock 219.3 12.6 2.46 0.58 12/19/17 A NA U NA NA NA Heartland Financial USA, Inc. HTLF 9,755.6 First Bank Lubbock Bancshares, Inc. Lubbock 929.2 10.4 0.84 2.35 12/12/17 A 185.6 M 239.6 15.1 20.0 Louise Bancshares, Inc. 385.1 First National Bank of Woodsboro Woodsboro 62.7 8.7 1.14 -0.08 11/30/17 A NA U NA NA NA Independent Bank Group, Inc. IBTX 8,891.1 Integrity Bancshares, Inc. Houston 804.9 10.1 0.21 1.28 11/28/17 A 161.5 M 199.0 22.5 20.1 First Financial Bankshares, Inc. FFIN 6,947.4 Commercial Bancshares, Inc. Kingwood 351.5 12.2 0.07 1.26 10/12/17 C 1/1/18 59.3 S 198.7 14.6 17.7 Aob Ventures, Inc. NA Brush Country Bank Freer 38.6 9.5 0.12 0.13 10/11/17 A NA U NA NA NA Henderson Citizens Bancshares, Inc. 1,768.4 Union State Bancshares, Inc. Florence 470.8 9.3 0.71 0.71 9/22/17 C 1/11/18 NA U NA NA NA ANB Corp. 2,668.4 G-6 Corp. Mesquite 174.2 9.7 1.59 -0.93 9/21/17 C 1/12/18 NA U NA NA NA Susser Bank Holdings , LLC NA BancAffiliated, Inc. BAFI Arlington 620.1 10.1 0.83 1.23 9/21/17 A 90.9 M 193.7 15.8 19.5 Veritex Holdings, Inc. VBTX 1,508.6 Liberty Bancshares, Inc. Fort Worth 459.3 8.9 0.39 0.87 8/1/17 C 12/1/17 63.6 M 194.2 20.0 13.9 D2 Alliances, LLC NA Grandview Bancshares, Inc. Grandview 181.4 9.0 0.07 1.32 7/3/17 C 9/30/17 25.0 C 156.4 12.3 13.8 Southside Bancshares, Inc. SBSI 5,656.2 Diboll State Bancshares, Inc. Diboll 1,010.7 9.2 0.82 1.20 6/12/17 C 11/30/17 224.2 M 241.2 18.6 22.2 Noble BanCorp., Inc. NA Falcon BanCorp. Inc. Memphis 65.5 11.2 0.00 1.45 6/2/17 A NA U NA NA NA Maple Financial Holdings, Inc. NA First National Bank of Edgewood Edgewood 25.2 7.9 0.00 -0.06 3/26/17 C 10/31/17 NA U NA NA NA

Virginia

Number of Transactions: 5 Medians: 259.4 129.9 17.3 18.9

Old Point Financial Corp. OPOF 954.5 Citizens National Bank CNBV Windsor 50.0 15.8 0.66 1.64 10/30/17 A 8.0 M 100.7 9.8 15.9 Atlantic Bay Mortgage Group LLC NA Virginia Community Bank Louisa 238.4 10.3 1.69 0.80 7/25/17 A NA U NA NA NA Bank of McKenney BOMK 230.9 CCB Bankshares, Inc. CZYB South Hill 216.1 8.9 0.84 0.37 6/28/17 C 11/10/17 19.0 S 99.0 24.6 8.8 Union Bankshares Corp. UBSH 8,669.9 Xenith Bankshares, Inc. XBKS Richmond 3,198.6 13.9 1.82 2.16 5/22/17 C 1/1/18 699.8 M 159.1 10.1 21.9 Sandy Spring Bancorp, Inc. SASR 5,201.2 WashingtonFirst Bankshares, Inc. WFBI Reston 2,059.0 9.0 0.37 0.99 5/16/17 C 1/1/18 499.8 M 271.2 26.4 24.3

Source: S&P Global Market Intelligence 13 M&A Activity - Per State, Last 12 Months, continued

West Virginia

Number of Transactions: 4 Medians: 49.9 156.0 NA 14.5

CB Financial Services, Inc. CBFV 908.3 First West Virginia Bancorp, Inc. FWVB Wheeling 343.1 9.4 NA 0.16 11/16/17 A 49.9 M 156.0 NA 14.5 WesBanco, Inc. WSBC 9,918.3 First Sentry Bancshares, Inc. FTSB Huntington 661.9 NA NA NA 11/13/17 97.8 M 157.0 NA 14.8 First Mutual Holding Co. 1,679.6 Doolin Security Savings Bank, FSB New Martinsville 47.6 10.6 0.16 -0.63 5/11/17 C 1/1/18 NA U NA NA NA Emclaire Financial Corp EMCF 706.3 Northern Hancock Bank & Trust Company Newell 26.7 12.0 4.05 -0.76 5/4/17 C 9/30/17 1.9 M 59.9 NA 7.2

Source: S&P Global Market Intelligence 14 Definitions

Deal Status Definitions Definitive Agreement A Completion C Renegotiation R Nonbinding Letter of Intent L

Consideration Definitions Cash C Stock S Mix M Unknown * U

Regional Definitions Regional Group: AL AR FL GA KY LA MD MS MO NC PA SC TN TX VA WV Mid-Atlantic: DE DC NJ NY PA PR Midwest: IL IN IA KS MI MN MO NE ND OH SD WI Northeast: CT ME MA NH RI VT Southeast: AL AR FL GA KY LA MD MS NC SC TN VA WV Southwest: CO NM OK TX UT West: AL AZ CA HI ID MT NV OR WA WY Guam

* "Unknown" designation is used when reported cash and stock considerations do not equal total reported deal value Deal values that are "NA" are counted as zeros in determining aggregates

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