2Nd Quarter 2019

2nd Quarter 2019

DFLORIDAISCUSSIONCOMMUNITYMATERIALSBANK LANDSCAPE

Financial Institutions Group Table of Contents

SECTION DESCRIPTION

I. Florida Bank Regulatory Data

II. Janney Montgomery Scott LLC

Disclaimer Janney Montgomery Scott LLC prohibits its employees from directly or indirectly offering a favorable research rating or specific price target, or offering to change a rating or price target, as consideration or inducement either for the receipt of business or for compensation.

2 I. FLORIDA BANK REGULATORY DATA Overview – Florida Bank Regulatory Data

Panhandle

North METHODOLOGY

. 8 county regions separated by geographic relevance Tampa Bay Central Atlantic . Data as of most recent available quarter – Coast June 30, 2019

. Regulatory call report data shown for all Southwest banks

Sunshine KEY STATE OBSERVATIONS Coast

. Median loan growth of 5.13%

South . Median NIM of 3.60%

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 Florida Panhandle 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) (%) (%) (%)

Bank of Pensacola Pensacola $89 $44 24.7 % $77 22.2 % 56.7 % 13.66 % 30.02 % 0.00 % 0.97 % 0.00 % $73 0.35 % 2.64 % 80.7 %

Bank of the South Pensacola 77 25 10.0 63 (4.8) 40.5 18.55 57.42 0.00 1.02 0.00 38 0.20 2.53 90.9

Beach Community Bank Fort Walton Beach 487 299 40.9 383 13.6 78.2 11.55 17.79 8.06 0.80 (0.06) 362 0.30 3.28 94.1

Capital City Bank Tallahassee 2,995 1,845 9.6 2,599 (7.2) 71.0 10.15 16.38 0.84 0.79 0.04 7,950 1.06 3.91 71.8

First City Bank of Florida Fort Walton Beach 149 93 (10.8) 135 (18.0) 69.2 2.42 4.47 25.45 2.72 0.64 (277) (0.73) 4.24 120.8

First Florida Bank Destin 451 254 27.8 387 25.7 65.7 12.30 23.20 0.14 1.36 (0.01) 1,625 1.49 3.64 57.2

FNBT Bank Fort Walton Beach 462 175 20.5 376 15.8 46.5 11.07 20.48 0.58 2.69 0.03 2,079 1.85 3.26 63.9

Frst Natl Bk NW FL Panama City 177 66 (11.0) 158 7.9 41.9 10.13 36.40 0.00 1.89 0.00 635 1.41 3.14 55.5

Peoples Bank of Graceville Graceville 98 42 3.3 86 (5.8) 48.6 12.09 42.22 0.88 0.94 0.00 308 1.30 2.84 58.2

PNB Community Bank Niceville 104 59 (5.0) 92 0.4 64.0 11.36 22.96 1.79 1.04 0.95 123 0.48 4.33 85.7

Prime Meridian Bank Tallahassee 451 310 14.3 405 18.8 76.5 9.10 13.94 0.58 1.29 (0.04) 865 0.79 3.66 68.7

Summit Bank NA Panama City 522 285 4.7 453 3.5 62.8 11.53 17.94 0.37 1.52 0.00 2,355 1.81 3.59 47.1

Warrington Bank Pensacola 81 28 12.0 65 (23.9) 43.5 19.14 45.60 0.00 1.03 0.00 86 0.42 2.66 80.7

Average 472 271 10.8 406 3.7 58.8 11.77 26.83 2.98 1.39 0.12 1,248 0.83 3.36 75.0 Median 177 93 10.0 158 3.5 62.8 11.53 22.96 0.58 1.04 0.00 362 0.79 3.28 71.8

Source: S&P Global Market Intelligence, Most Recent Available Quarter 5 North Florida Banks

Citizens State Bank Perry $273 191 (10.6) % 232 (11.4) % 82.2 % 11.06 % 15.63 % 0.37 % 1.01 % 0.55 % $1,281 1.87 % 4.17 % 52.1 %

Columbia Bank Lake City 210 155 10.2 186 (8.3) 83.2 10.85 15.36 4.03 1.61 (0.14) 229 0.43 3.73 89.4

Community Bank & Trust of FL Ocala 755 300 (7.4) 682 11.6 43.9 9.34 16.62 0.05 1.35 (0.04) 1,758 0.97 3.21 68.3

Community State Bank Starke 128 63 22.2 116 (45.6) 54.2 8.91 16.70 1.86 0.98 (0.14) 137 0.43 4.35 87.7

Drummond Community Bank Chiefland 638 379 5.9 563 11.8 67.4 11.05 18.03 0.89 2.13 0.05 1,775 1.13 4.43 66.7

First Federal Bank Lake City 2,059 1,181 45.9 1,602 (6.6) 73.8 10.56 17.28 0.63 0.48 0.04 8,231 1.67 4.00 72.9

Florida Capital Bank N.A. Jacksonville 455 379 36.3 287 (14.7) 132.3 8.38 11.21 1.10 0.58 0.03 2,023 1.86 3.40 77.4

Lafayette State Bank Mayo 108 65 5.0 99 (16.5) 65.5 7.83 13.75 5.48 0.91 0.02 404 1.57 4.95 75.4

Madison County Community Bank Madison 125 67 24.6 113 (4.7) 59.6 9.24 17.02 1.57 1.31 0.00 319 1.03 3.71 64.2

TIAA FSB Jacksonville 39,815 33,497 21.5 25,425 19.4 131.8 7.90 13.23 1.23 0.45 0.12 39,506 0.41 2.39 74.8

Average 4,456 3,628 15.4 2,930 (6.5) 79.4 9.51 15.48 1.72 1.08 0.05 5,566 1.14 3.83 72.9 Median 364 245 15.8 259 (7.5) 70.6 9.29 16.13 1.16 1.00 0.03 1,520 1.08 3.87 73.9

Source: S&P Global Market Intelligence, Most Recent Available Quarter 6 Atlantic Coast Florida Banks

Cogent Bank Orange City $207 $148 112.1 % $164 9.5 % 90.2 % 17.68 % 23.89 % 1.10 % 1.78 % (0.03) % ($497) (0.99) % 3.53 % 124.7 %

Community Bank of the South Merritt Island 155 50 (28.3) 136 (10.2) 36.6 10.49 27.10 0.44 1.43 (0.13) 419 1.08 3.56 61.1

Fidelity Bank of Florida NA Merritt Island 169 117 (7.2) 137 (2.1) 85.5 14.40 21.86 1.95 1.90 (0.05) (185) (0.44) 4.46 133.2

Florida Bus. Bank Melbourne 138 101 9.9 117 (2.7) 85.7 13.87 18.25 0.00 1.32 0.57 360 1.05 3.89 63.1

Friends Bank New Smyrna Beach 98 71 (21.0) 87 (0.9) 82.3 10.23 16.99 1.36 1.90 0.00 52 0.22 3.83 94.5

Intracoastal Bank Palm Coast 335 227 1.9 303 (0.6) 75.0 8.84 11.93 0.08 1.26 0.00 1,567 1.88 4.01 52.2

Mainstreet Community Bk of FL Deland 435 343 3.2 393 6.5 87.3 8.51 11.03 0.60 1.36 (0.01) 1,162 1.07 4.49 63.1

Marine B&TC Vero Beach 273 223 (5.9) 248 (9.4) 89.9 8.74 14.65 0.35 1.14 (0.01) 438 0.63 3.91 78.4

Seacoast National Bank Stuart 6,825 4,906 5.2 5,541 (4.7) 88.5 11.04 14.39 0.71 0.68 0.15 24,012 1.43 3.97 52.7

Sunrise Bank Cocoa Beach 226 166 9.1 190 2.0 87.5 11.37 15.24 0.00 0.92 0.00 794 1.39 4.26 67.4

Surety Bank Deland 123 73 (4.5) 106 37.0 68.9 11.39 18.98 1.31 1.30 (0.07) 420 1.39 3.97 75.2

Average 817 584 6.8 675 2.2 79.8 11.51 17.66 0.72 1.36 0.04 2,595 0.79 3.99 78.7 Median 207 148 1.9 164 (0.9) 85.7 11.04 16.99 0.60 1.32 (0.01) 420 1.07 3.97 67.4

Source: S&P Global Market Intelligence, Most Recent Available Quarter 7 Central Florida Banks

Axiom Bank, NA Maitland $683 $541 10.6 % $510 (3.0) % 106.1 % 13.19 % 17.57 % 1.83 % 0.95 % 0.16 % $327 0.20 % 4.34 % 91.6 %

Bank of Central Florida Lakeland 519 348 (3.8) 471 1.1 74.0 8.40 14.01 0.01 0.90 (0.02) 2,311 1.68 3.33 55.2

CenterState Bank NA Winter Haven 17,023 11,808 162.4 13,218 142.2 89.3 10.32 12.49 0.29 0.34 0.07 55,600 1.33 4.42 59.2

Citizens Bank & Trust Lake Wales 657 383 (3.5) 575 (6.6) 66.6 7.52 12.66 0.69 0.95 0.04 2,079 1.26 3.72 71.8

Citizens Bank of Florida Oviedo 338 220 (0.8) 303 24.9 72.4 8.75 12.39 0.77 1.39 0.00 649 0.80 3.80 72.9

Citizens First Bank The Villages 2,384 797 9.7 1,878 3.8 42.5 11.07 17.05 0.17 1.15 0.00 10,633 1.82 2.98 41.6

Commerce National Bank & Trust Winter Park 121 90 (4.6) 99 17.3 90.1 12.50 18.61 0.44 2.15 0.00 256 0.89 3.90 77.8

First Colony Bank of Florida Maitland 225 168 (8.7) 199 2.3 84.4 10.10 13.42 1.23 1.42 0.00 1,208 2.18 4.22 47.7

First NB of Mount Dora Mount Dora 243 103 (13.2) 201 11.6 51.2 15.45 27.02 1.77 2.56 0.12 1,096 1.84 3.78 63.6

One Florida Bank Orlando 251 131 730.1 152 442.5 86.3 47.96 65.56 0.22 0.98 (0.01) (1,833) (3.65) 2.92 187.0

Seaside National Bank & Trust Orlando 1,850 1,292 (18.3) 1,520 (10.6) 85.0 8.25 12.11 0.10 1.06 (0.02) 4,770 1.01 2.71 59.6

United Southern Bank Umatilla 534 303 3.4 476 1.9 63.7 9.82 15.74 1.01 2.26 0.00 1,258 0.94 3.98 71.7

Winter Park National Bank Winter Park 341 176 56.9 297 106.8 59.4 13.36 21.64 0.00 1.27 0.00 968 1.27 2.99 46.7

Average 1,936 1,258 70.8 1,531 56.5 74.7 13.59 20.02 0.66 1.34 0.03 6,102 0.89 3.62 72.8 Median 519 303 (0.8) 471 3.8 74.0 10.32 15.74 0.44 1.15 0.00 1,208 1.26 3.78 63.6

Source: S&P Global Market Intelligence, Most Recent Available Quarter 8 Tampa Bay Banks

Bank of Tampa Tampa $1,734 $1,199 14.8 % $1,511 (20.2) % 79.3 % 9.88 % 12.68 % 0.30 % 1.12 % 0.28 % $6,065 1.43 % 4.08 % 63.8 %

Brannen Bank Inverness 535 310 3.4 499 5.6 62.1 6.61 16.16 0.82 1.04 (0.03) 2,722 2.06 3.90 52.5

Central Bank Tampa 178 145 19.7 156 (2.7) 93.1 8.05 10.58 0.67 1.54 0.00 191 0.44 3.52 82.1

Century Bank of Florida Tampa 84 54 (8.1) 68 (4.2) 79.4 8.53 14.24 0.72 1.16 (0.02) 152 0.71 3.97 81.1

First Citrus Bank Tampa 396 312 9.0 325 (0.9) 96.3 9.77 12.40 0.33 0.87 0.00 1,031 1.04 3.95 65.3

First Home Bank Saint Petersburg 460 368 18.4 387 39.5 95.1 10.93 17.47 0.84 2.50 1.50 1,335 1.24 4.39 71.3

First National Bank of Pasco Dade City 177 124 20.3 149 (19.3) 82.9 10.69 15.81 0.90 1.83 0.04 280 0.62 4.37 77.7

Flagship Community Bk Clearwater 121 91 (2.3) 104 (3.7) 87.2 13.54 17.82 1.16 1.00 (0.03) 112 0.37 3.61 87.6

Freedom Bank Saint Petersburg 344 238 (19.2) 315 61.9 75.6 9.03 11.29 0.29 1.14 (0.05) 1,676 2.23 4.27 54.1

Hillsboro Bank Plant City 153 82 (21.6) 131 22.5 62.9 13.19 23.71 0.19 1.26 0.00 582 1.55 4.14 50.4

Pilot Bank Tampa 403 321 26.9 337 16.1 95.2 9.86 12.33 1.00 0.61 0.01 504 0.51 3.24 76.0

TCM Bank NA Tampa 312 288 34.7 246 46.4 117.1 16.70 18.41 0.89 3.16 2.77 768 1.00 8.60 74.2

Average 408 294 8.0 352 11.7 85.5 10.57 15.24 0.68 1.44 0.37 1,285 1.10 4.34 69.7 Median 328 263 11.9 281 2.3 85.0 9.87 15.03 0.77 1.15 0.00 675 1.02 4.03 72.7

Source: S&P Global Market Intelligence, Most Recent Available Quarter 9 Southwest Florida Banks

Charlotte State Bank & Trust Port Charlotte $374 $214 12.9 % $335 2.5 % 63.8 % 10.04 % 18.97 % 0.63 % 1.91 % (1.01) % $2,149 2.32 % 3.85 % 59.1 %

Edison National Bank Fort Myers 316 143 (10.5) 277 (24.4) 51.7 8.04 19.60 0.00 1.42 0.00 961 1.19 3.34 66.6

Englewood Bank & Trust Englewood 310 192 7.3 279 0.3 68.7 9.47 17.01 0.75 1.75 0.00 1,761 2.27 4.07 53.1

FineMark National Bk & Tr Fort Myers 1,986 1,461 9.1 1,529 (14.1) 95.5 9.51 16.25 0.06 1.04 0.00 3,974 0.82 2.54 68.0

First Bank Clewiston 400 274 11.8 362 18.9 75.7 9.32 13.94 0.21 1.49 0.05 988 1.02 4.05 68.0

First Florida Integrity Bank Naples 1,476 1,106 (0.2) 1,205 (5.2) 91.8 8.95 11.67 0.00 0.88 (0.01) 4,012 1.08 3.49 60.0

First National Bk of Wauchula Wauchula 71 50 4.7 60 (5.2) 82.2 12.04 20.12 5.52 1.87 0.00 69 0.38 4.84 92.1

Crews Bank & Trust Arcadia 160 81 7.3 141 6.1 57.6 11.44 23.85 1.02 3.39 (0.04) 396 1.00 3.93 78.0

Gulfside Bank Sarasota 72 15 232.3 50 149.6 29.9 33.68 70.53 0.00 1.25 0.00 (513) (3.22) 2.60 209.4

Heartland National Bank Sebring 414 155 (11.4) 362 14.6 42.8 9.61 21.74 0.27 1.52 (0.02) 1,340 1.33 3.34 51.9

Sabal Palm Bank Sarasota 234 175 4.0 212 (13.5) 82.9 8.55 13.74 0.00 1.25 (0.01) 468 0.79 3.91 72.6

Sanibel Captiva Community Bank Sanibel 462 397 7.0 398 (9.3) 99.7 7.21 10.69 1.62 0.86 0.03 1,735 1.56 4.60 55.8

Wauchula State Bank Wauchula 700 445 (0.2) 606 12.7 73.4 12.23 20.07 1.84 1.81 0.08 4,330 2.51 4.52 47.5

Average 536 362 21.1 447 10.2 70.4 11.55 21.40 0.92 1.57 (0.07) 1,667 1.00 3.78 75.5 Median 374 192 7.0 335 0.3 73.4 9.51 18.97 0.27 1.49 0.00 1,340 1.08 3.91 66.6

Source: S&P Global Market Intelligence, Most Recent Available Quarter 10 Sunshine Coast Florida Banks

American National Bank Oakland Park $320 $235 (3.5) % $272 (3.8) % 86.4 % 13.94 % 18.02 % 0.05 % 1.03 % 0.00 % $969 1.22 % 4.18 % 55.0 %

Anchor Bank Juno Beach 145 115 4.0 115 20.1 100.0 9.56 12.76 0.06 0.76 (0.01) (67) (0.19) 3.08 110.3

Bank of Belle Glade Belle Glade 104 36 7.8 94 (6.2) 38.4 9.27 26.21 1.03 1.11 0.00 250 0.96 3.09 60.9

BankFlorida Jupiter 95 72 51.7 68 1.3 106.4 9.54 12.31 1.42 0.82 (0.14) (340) (1.60) 3.26 171.4

Desjardins Bank NA Hallandale 218 167 (2.9) 170 (23.4) 98.1 14.83 30.73 0.65 1.38 0.00 263 0.50 4.58 88.0

First Bank of the Palm Beaches West Palm Beach 183 145 (7.8) 166 (4.7) 87.2 8.76 13.21 0.15 0.75 (0.02) 296 0.65 4.15 77.0

Flagler Bank West Palm Beach 311 225 (0.5) 241 (3.5) 93.3 9.93 15.34 0.14 0.75 (0.01) 1,417 1.81 3.31 46.8

Home Federal Bank of Hollywood Hallandale Beach 52 38 30.7 39 (11.1) 99.6 13.51 21.32 0.43 0.72 0.00 (221) (1.68) 3.32 145.5

Legacy Bank of Florida Boca Raton 444 385 20.4 343 (3.2) 112.2 10.65 11.97 0.00 0.67 0.07 1,037 0.93 3.22 65.6

Natbank NA Hollywood 165 141 (1.4) 116 (36.6) 121.1 18.30 33.89 0.87 0.60 0.00 229 0.56 4.24 86.3

OptimumBank Plantation 110 83 11.8 86 24.0 96.3 10.31 14.62 0.84 2.48 (0.03) (48) (0.18) 3.18 105.3

Paradise Bank Boca Raton 326 210 0.3 288 17.3 73.1 11.38 17.81 0.23 0.68 0.33 1,774 2.23 4.92 60.1

TransCapital Bank Sunrise 204 160 (0.8) 160 2.6 99.9 18.42 25.08 1.47 0.98 0.08 1,415 2.77 4.18 40.0

Average 206 155 8.4 166 (2.1) 93.2 12.18 19.48 0.56 0.98 0.02 536 0.61 3.75 85.5 Median 183 145 0.3 160 (3.5) 98.1 10.65 17.81 0.43 0.76 0.00 263 0.65 3.32 77.0

Source: S&P Global Market Intelligence, Most Recent Available Quarter 11 South Florida Banks (1 of 2)

Amerant Bank NA Coral Gables $7,916 $5,813 4.8 % $5,874 (3.2) % 99.0 % 10.66 % 13.89 % 0.39 % 0.99 % 0.11 % $16,410 0.83 % 2.99 % 73.0 %

Apollo Bank Miami 729 526 18.7 640 25.1 82.3 9.85 13.75 0.80 1.04 0.00 1,744 0.99 3.54 62.0

BAC Florida Bank Coral Gables 2,352 1,734 (10.0) 1,903 12.2 91.1 9.76 17.55 1.59 1.01 (0.03) 7,924 1.40 3.17 50.6

Banco Do Brasil Americas Miami 647 472 2.5 573 (10.9) 82.5 9.28 18.85 0.76 1.04 0.59 1,130 0.70 3.42 80.3

Banesco USA Coral Gables 1,379 990 13.1 1,210 8.8 81.8 9.39 NA 0.21 1.12 0.03 2,481 0.75 3.56 80.7

BankUnited NA Miami Lakes 33,012 22,817 7.7 24,110 3.1 94.6 9.28 13.37 0.53 0.49 0.00 86,276 1.06 2.51 52.0

Brickell Bank Miami 410 324 (19.2) 348 (25.6) 93.1 5.40 11.58 2.70 1.13 (0.01) (1,048) (0.98) 3.08 131.3

City National Bank of Florida Miami 15,052 10,636 10.3 11,806 12.7 90.1 10.45 13.94 0.24 0.40 0.01 39,255 1.04 2.85 45.5

Continental National Bank Miami 476 320 (22.5) 417 10.4 76.9 8.33 13.73 0.25 1.18 (0.01) 509 0.43 3.34 91.4

Eastern National Bank Miami 369 316 (15.7) 329 1.3 96.3 9.11 11.98 3.71 2.00 0.41 (483) (0.52) 3.46 116.5

Executive National Bank Miami 455 383 14.0 384 1.0 99.8 11.27 16.88 0.45 1.29 0.01 1,017 0.90 3.79 68.1

First National Bk South Miami South Miami 797 560 2.8 671 12.3 83.4 9.83 15.42 0.37 1.39 0.00 1,750 0.89 3.38 67.9

First State Bk of the FL Keys Key West 953 651 (0.7) 741 (5.6) 87.8 8.91 16.40 1.20 1.11 (0.09) 3,188 1.34 3.59 66.2

Grove Bank & Trust Miami 659 285 (6.1) 538 4.2 53.0 17.93 30.46 0.37 2.71 0.00 476 0.30 2.88 91.1

Helm Bank USA Miami 860 532 (0.2) 742 24.1 71.7 11.51 28.46 1.80 1.91 0.04 1,819 0.85 3.54 69.9

South Florida banks list continued on following page

Source: S&P Global Market Intelligence, Most Recent Available Quarter 12 South Florida Banks (2 of 2)

Intercredit Bank NA Miami 379 292 4.3 299 14.4 97.8 10.21 NA 1.35 1.78 0.02 (426) (0.46) 2.86 102.8

International Finance Bank Miami 717 557 34.5 647 28.4 86.0 6.87 10.96 0.34 1.10 0.00 977 0.56 3.58 73.0

Marquis Bank Coral Gables 680 564 11.6 560 7.4 100.8 9.64 11.72 0.27 0.93 0.00 1,679 1.02 3.53 55.7

Ocean Bank Miami 4,309 3,194 3.1 3,694 17.7 86.5 10.73 14.47 0.91 1.49 (0.07) 8,030 0.76 3.68 74.4

Pacific National Bank Miami 533 369 14.9 397 25.2 93.0 13.54 18.95 0.33 0.74 0.00 790 0.62 3.29 69.9

Plus International Bank Miami 79 63 83.8 65 (49.0) 97.5 17.57 27.80 0.00 1.25 0.00 (63) (0.31) 3.49 106.6

Professional Bank Coral Gables 890 722 43.7 758 22.9 95.2 8.74 12.97 0.16 0.84 0.00 677 0.32 3.41 81.3

Sunstate Bank Miami 444 231 (8.1) 347 1.7 66.5 9.28 12.54 0.25 0.75 0.01 1,699 1.55 3.43 53.3

Terrabank N.A. Miami 415 280 17.1 375 23.3 74.7 9.31 14.78 0.00 1.08 0.00 560 0.56 3.45 79.9

U.S. Century Bank Doral 1,262 914 10.8 987 18.6 92.6 9.34 12.97 0.41 1.27 (0.09) 2,318 0.76 3.30 71.2

Average 3,031 2,142 8.6 2,337 7.2 87.0 10.25 16.24 0.77 1.20 0.04 7,148 0.61 3.32 76.6 Median 717 532 4.8 640 10.4 90.1 9.64 13.94 0.39 1.11 0.00 1,679 0.76 3.42 73.0

State of Florida Summary Statistics

Max. $39,815 $33,497 730.1 % $25,425 442.5 % 132.3 % 47.96 % 70.53 % 25.45 % 3.39 % 2.77 % $86,276 2.77 % 8.60 % 209.4 % Min. 52 15 (28.3) 39 (49.0) 29.9 2.42 4.47 0.00 0.34 (1.01) (1,833) (3.65) 2.39 40.0 Average 1,593 1,149 18.0 1,205 10.6 79.4 11.30 18.94 1.08 1.29 0.07 3,659 0.84 3.69 76.0 Median 376 237 5.1 320 1.9 82.7 10.14 16.39 0.58 1.14 0.00 969 0.97 3.60 71.3

Source: S&P Global Market Intelligence, Most Recent Available Quarter 13 Florida Publicly Traded Banks (Incl. OTC)

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 Exchange ($M) Price (%) (x) (%) (%) (%) (%) (%) (%) ($M) ($M) (%) (%) (%) (%)

BKU BankUnited Inc. Miami Lakes NYSE $3,067.3 $32.18 111.4 % 11.3 x 2.6 % 4.5 % 2.6 % 0.8 % 101.1 % -17.3 % $33,092.3 $22,816.6 NA 0.45 0.93 9.87

CSFL CenterState Bank Corp. Winter Haven NASDAQ 2,885.0 22.36 183.5 12.2 2.0 2.3 1.9 2.9 66.4 -21.8 17,036.6 11,807.9 10.0 0.24 1.44 8.88

SBCF Seacoast Banking Corp. of FL Stuart NASDAQ 1,293.5 25.28 185.2 16.4 0.0 2.4 4.6 2.0 86.0 -13.4 6,824.9 4,905.7 10.6 0.71 1.20 9.35

AMTB Amerant Bancorp Inc. Coral Gables NASDAQ 715.7 17.82 98.0 14.7 -- 0.8 2.7 29.6 15.6 -1.0 7,926.8 5,812.8 9.9 0.41 0.64 6.83

CCBG Capital City Bank Group Inc. Tallahassee NASDAQ 407.3 24.32 177.2 14.6 1.8 0.6 2.2 37.2 40.2 2.6 3,017.7 1,845.1 7.8 0.84 0.97 9.24

FNBT FineMark Holdings Inc. Fort Myers OTCQX 222.7 25.15 130.6 16.2 -- 0.1 0.0 0.0 24.1 -16.2 1,997.9 1,463.3 8.5 0.02 0.75 8.82

TSHR Three Shores Bancorp. Inc. Orlando OTC Pink 217.3 9.05 140.6 15.3 -- 0.0 -- 0.0 0.8 -17.7 1,849.7 NA 6.9 0.10 0.74 9.70

TGRF TGR Financial Inc. Naples OTCQX 195.6 11.30 151.2 13.3 -- 0.1 0.0 5.0 2.7 -11.8 1,478.5 1,105.9 8.8 0.00 1.15 12.68

FMIA First Miami Bancorp Inc. South Miami OTC Pink 113.4 1,299.99 111.2 NA 0.4 0.0 0.0 76.4 -- 6.6 770.4 556.8 13.2 NA 0.38 2.86

PFHD Professional Holding Corp. Coral Gables OTC Pink 65.0 18.50 NA NA -- 0.2 0.0 19.4 -- 2.5 729.5 607.2 NA NA NA NA

PMHG Prime Meridian Holding Co. Tallahassee OTCQX 62.1 19.75 117.2 15.8 0.6 0.1 0.0 20.7 11.6 -11.7 450.7 310.2 11.8 0.44 0.94 7.79

FCIT First Citrus Bancorp. Inc. Tampa OTC Pink 53.7 26.50 152.0 12.8 -- 0.1 0.0 24.2 1.2 2.2 396.4 311.6 8.9 0.60 1.07 12.34

PLBN Pilot Bancshares Inc. Tampa OTCQX 43.4 3.50 NA NA 0.0 0.1 0.0 49.8 -- -7.7 361.4 291.2 NA NA NA NA

FRIE Friends Bank New Smyrna Beach OTC Pink 18.2 8.60 169.8 15.1 0.0 0.1 0.0 16.6 -- 68.6 97.6 71.4 11.0 1.36 1.24 11.75

OPHC OptimumBank Holdings Inc. Fort Lauderdale NASDAQ 5.6 3.02 108.5 4.7 -- 1.1 0.2 41.6 5.2 -40.9 106.7 80.5 4.8 NA 0.97 19.09

Avg. 624.4 141.3 13.5 0.9 0.8 1.0 21.7 32.3 -5.1 5,075.8 3,713.3 9.4 0.47 0.96 9.94 Median 195.6 140.6 14.6 0.5 0.1 0.0 19.4 15.6 -11.7 1,478.5 856.5 9.4 0.44 0.97 9.35

Note: Market data as of August 6, 2019 Source: S&P Global Market Intelligence, Most Recent Available Quarter 14 Recent Florida M&A 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) (%) (%) (%) 07/22/19 First Bancshares Inc. MS First Florida Bancorp Inc. Destin FL Mix $85.0 178.1 17.5 18.9 14.0 $451.0 0.14 11.74 1.24 05/30/19 West Florida Banking Corp. FL Flagship Community Bk Clearwater FL Mix NA NA NM NA NA 122.0 1.25 13.36 1.31 05/15/19 First American Bank Corp. IL Continental National Bank Miami FL Cash NA NA NM NA NA 478.5 0.24 7.75 -0.80 05/14/19 Banesco USA FL Brickell Bank Miami FL Mix NA NA NM NA NA 439.8 2.48 5.25 -0.82 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 Cash NA NA NM NA NA 733.3 0.09 9.16 1.10 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 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 02/19/19 FAIRWINDS CU FL Friends Bank New Smyrna Beach FL Mix NA NA NM NA NA 95.3 1.56 10.83 1.27 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 01/14/19 VyStar CU FL Citizens State Bank Perry FL Cash NA NA NM NA NA 279.7 0.44 9.74 1.30 11/16/18 First Citizens BancShares Inc. NC Biscayne Bancshares Inc. Coconut Grove FL Cash 119.5 178.8 11.2 12.1 10.1 989.9 0.26 8.45 1.36 08/08/18 Investor group -- One South Bank Chipley FL Mix NA NA NM NA NA 46.9 1.18 12.87 0.67 07/26/18 IBM Southeast Employees' CU FL Oculina Bank Vero Beach FL Mix NA NA NM NA NA 358.6 0.16 8.70 1.07 07/24/18 First Bancshares Inc. MS FMB Banking Corp. Monticello FL Mix 80.3 207.1 21.3 16.7 11.2 480.4 2.45 8.51 1.09 07/24/18 Synovus Financial Corp. GA FCB Financial Holdings Inc. Weston FL Stock 2,868.9 228.6 20.6 23.5 23.3 12,192.3 0.22 9.88 1.24 07/23/18 Drummond Banking Co. FL PSB BancGroup Inc. Lake City FL Cash NA NA NM NA NA 86.9 3.81 8.68 0.35 06/11/18 Seacoast Banking Corp. of FL FL First Green Bancorp Inc. Mount Dora FL Stock 135.1 178.3 NM 18.5 13.3 730.9 0.07 10.48 0.91 04/09/18 Private Investor-David Bolger -- Beach Community Bank Fort Walton Beach FL Cash 0.9 6.1 NM 0.2 NM 496.0 32.52 2.83 -0.86

Avg. 486.2 176.1 17.0 16.6 16.7 1,063.2 3.74 9.80 0.72 Median 109.9 178.5 17.2 18.7 13.3 445.4 1.03 9.45 1.10

Note: Includes whole bank transactions where 100% equity was acquired; Data as of July 31, 2019 Source: S&P Global Market Intelligence 15 II. JANNEY MONTGOMERY SCOTT LLC Expanding Breadth of Capabilities & Expertise

. Janney recently completed its acquisition of FIG Partners LLC, an Atlanta-based investment banking and research firm focused exclusively on community banks

. The experienced team at FIG Partners brings nationally recognized expertise within the community bank sector to Janney’s existing financial institutions sector coverage

. The addition gives Janney a total of more than 200 capital markets professionals, who provide investment banking, equity, and fixed income expertise to corporate, institutional and municipal clients

FIG PARTNERS BY THE NUMBERS COMMUNITY BANK M&A LEAGUE TABLE(1) # Of Deal Value . 49 M&A transactions, totaling approximately $4.8 billion in Rank Adviser transaction value since 2017 Deals ($M) 1 Keefe, Bruyette & Woods 61 $2,824 . $1.2 billion of equity capital and more than $225.0 million of debt 2 Sandler O'Neill & Partners, L.P. 72 2,585 capital raised since 2017 3 FIG Partners, LLC 41 1,390 4 Hovde Group, LLC 51 1,183 . Over 25 investment bankers 5 D.A. Davidson & Co. 31 1,030 . Research coverage of 130 community bank stocks 6 Boenning & Scattergood, Inc. 24 860 7 Stephens Inc. 20 844 . Market maker for over 800 bank and thrift stocks 8 Raymond James & Associates, Inc. 22 841 9 Piper Jaffray & Co. 19 789 10 Banks Street Partners, LLC 23 724 11 ProBank Austin 27 528 12 Vining-Sparks IBG, L.P. 16 461 13 Sheshunoff & Co. Investment Banking LP 22 436 14 Performance Trust Capital Partners, LLC 21 414 15 FinPro, Inc. 10 307

(1) For banks with total assets <$500 million Source: S&P Global Market Intelligence 17 A Leading Middle Market Investment Bank…

. Janney has completed its 186th year of providing financial advice and superior By-the-Numbers service to individuals, families, corporations and institutions 1832 Janney Founded – 12th largest full-service U.S. brokerage firm – 1,975 employees in 118 offices across 21 states 836 Financial Advisors . Janney continues to demonstrate profitability in times of market turbulence 250+ Capital Markets Professionals – $705 million of LTM Revenue – 69 transactions representing $6.8+ billion in aggregate transaction value in 2018 187 Companies Under Coverage – 125 consecutive quarters of profitability $88B Assets under Management . Janney’s strategy is focused on growth – Private Client Group 69 2018 Banking Transactions . 2019 Q1: Recruited 14 Financial Advisors with $1.1 billion in assets under 13 Capital Markets Offices management at hire – Capital Markets 10 Publishing Analysts . Recently completed acquisition of FIG Partners, an Atlanta-based investment banking and research firm focused exclusively on community banks 6 Dedicated Industry Groups . 2019 Q1: 47 new professionals and 44 promoted 1 Firm Approach . Janney is an independent subsidiary of Penn Mutual, one of the largest and oldest mutual insurance companies in the United States – Assets in excess of $25.8 billion and 2018 Revenue of $3.2 billion – Superior ratings profile: A.M. Best: A+ | S&P: A+ | Moody’s: Aa3

The stability of Janney’s platform allows us to be completely focused on our clients and transactions

18 … With the Benefit of Full-Service Capabilities

JANNEY’S CAPABILITIES JANNEY’S GEOGRAPHIC FOOTPRINT

. 447 transactions aggregating $52.0+ billion in . Janney has 118 offices in over 21 states across the Investment transaction value since 2013 United States Banking . 6 targeted industry coverage sectors with an additional dedicated Financial Sponsors effort . Institutional sales force across 13 institutional offices with over 100 equity and fixed income sales Private Client . 836 financial advisors with approximately $87.6 professionals throughout Janney’s geographic Services billion of client assets under management footprint

Municipal . 43 professionals and 2,800+ transactions Finance totaling $185.0 billion from 2010 – 2017

Asset . 15 person team with discretionary investment Management management of $3.9 billion in client assets

Fixed Income . 100+ sales and trading professionals covering Sales & Trading 1,000+ accounts

Equity . 11 professionals covering 500+ accounts and Sales & Trading market makers in 1,300+ stocks

Equity . 25 person research team with 10 publishing Research analysts who combined cover 187 companies

Janney’s investment banking team has access to the Firm’s full-service capabilities

19 A Comprehensive Investment Banking Platform

CAPITAL MARKETS INVESTMENT BANKING INDUSTRY GROUPS

Investment Business Financial Banking Equity Services Institutions Research

Private Client Equity Sales Industry Services & Trading Basic Healthcare Industries Coverage Groups

Municipal Fixed Income Finance Sales & Trading Asset Real Estate Infrastructure Management

INVESTMENT BANKING SERVICES INVESTMENT BANKING PRODUCTS . Capital Markets – Initial Public Offerings – Subordinated Debt – Follow-on Offerings – Convertible Securities – – PIPEs & High-Grade and High-Yield Debt Share Repurchases Public / Private Mergers & Financial Registered – At-the-Market-Offerings (ATMs) Equity Acquisitions Sponsors Directs Coverage . Mergers & Acquisitions M&A and – Exclusive Sales & Exit Planning – Leveraged & Management Buyouts Equity / Debt Sponsor – Acquisition Advisory – Fairness Opinions & Corporate Defense Capital Markets Coverage . Private Placements Financial Proprietary – – PIPEs & Registered Directs Private Debt Senior / Mezzanine / Advisory & Deal – Private Equity – Convertible & Preferred Securities Structured Debt Junior Capital Restructuring Sourcing . Financial Advisory & Restructuring – Valuations – Loan Workouts & Debt Restructurings – Capital Structure Optimization – Distressed Asset Sales – Board Advisory & Dispute Services – Special Situations 20 Positioned to Deliver Results for Our Clients

Service offerings: Bulge Bracket Boutique

Highly experienced executives

“Hands-on” senior team

Resources of a large corporation

Full-service advisory practice

Advice free of conflicts

Committed to smaller clients

Janney is uniquely positioned with the capabilities of a “bulge bracket” investment bank while providing the highly focused attention of a boutique

21 A Nationally Recognized, Leading Bank M&A Advisor

. Since January 1, 2017, the Financial U.S. Bank M&A Advisory League Tables1 Number of Institutions Group in place has advised Rank Advisor Transactions on 51 M&A transactions, totaling Since January 1, 2017 approximately $4.8 billion in 1 Sandler O'Neill 132 transaction value 2 Stifel / KBW 107 . The Financial Institutions Group has 3 Hovde Group, LLC 63 advised on 125 M&A transactions, totaling more than $8.3 billion in 4 Janney Montgomery Scott 51 transaction value 5 D.A. Davidson & Co. 44

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

Agreed to be Acquired Agreed to Acquire Agreed to Acquire Agreed to be Acquired Agreed to Acquire by 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 July 31, 2019 Source: S&P Global Market Intelligence, Janney Montgomery Scott, LLC 22 Historical Whole Bank Transactions Advised by FIG Group

The Financial Institutions Group has advised on 126 community bank deals Nationwide This represents over $8.3 billion in deal value

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

7/31/2019 Investar Holding Corp. Bank of York 15.0 99.5 09/27/17 Old Line Bancshares, Inc. Bay Bancorp Inc. 127.6 645.9 07/22/19 First Bancshares, Inc. First Florida Bancorp Inc. 85.0 451.0 09/18/17 First American Bank Corporation Southport Financial Corp. 44.0 285.3 07/01/19 BayCom Corp TIG Bancorp 39.4 228.9 08/16/17 National Commerce Corporation FirstAtlantic Finl Hldgs Inc 107.9 462.4 06/18/19 Verve Credit Union South Central Bank NA -- 295.9 08/01/17 PB Financial Corporation CB Financial Corp. 11.2 106.8 05/28/19 Santa Cruz County Bank Lighthouse Bank 68.9 314.4 07/21/17 Delmar Bancorp Liberty Bell Bank 16.8 147.8 05/21/19 Citizens Holding Company Charter Bank 20.0 160.5 06/28/17 Bank of McKenney CCB Bankshares Inc. 19.0 216.1 05/08/19 Southern States Bancshares, Inc. East Alabama Financial Group, Inc. -- 241.1 06/26/17 BayCom Corp. Plaza Bank 10.6 69.7 03/19/19 First Bank Grand Bank NA 19.4 196.9 06/01/17 Charter Financial Corporation Resurgens Bancorp 26.3 166.8 01/22/19 Citizens Community Bancorp, Inc. F. & M. Bancorp of Tomah Inc. 21.6 194.6 05/04/17 Trona Valley Community Federal Credit Union State Bank -- 37.0 12/20/18 CCF Holding Company Heritage Bncp, Inc./ Providence Bk 105.0 628.7 05/04/17 Seacoast Banking Corporation of Florida Palm Beach Community Bank 71.3 346.0 12/17/18 Ameris Bancorp Fidelity Southern Corp. 750.7 4,812.1 04/24/17 Sierra Bancorp OCB Bancorp 35.5 270.3 12/13/18 Delmar Bancorp Virginia Partners Bank 55.1 420.1 03/28/17 FNS Bancshares, Inc. Commerce Bancshares Inc. 21.8 159.1 12/12/18 Morris State Bancshares, Inc. FMB Equibanc Inc. 23.6 193.0 03/17/17 Citizens Community Bancorp, Inc. Wells Financial Corp. 40.2 268.5 12/10/18 BayCom Corp Uniti Financial Corp. 63.9 325.4 02/17/17 West Town Bancorp, Inc. Sound Banking Co. 22.9 185.3 11/15/18 BankFirst Capital Corporation FNB Bcshs of Central AL Inc. 47.4 273.2 02/06/17 First Busey Corporation First Community Finl Partners 242.0 1,268.2 09/13/18 Park National Corporation CAB Financial Corp. 141.8 730.7 12/15/16 BayCom Corp. First ULB Corp. 36.9 452.6 08/23/18 Lakeland Bancorp, Inc. Highlands Bancorp Inc. 56.7 487.9 12/13/16 Southern National Bancorp of Virginia, Inc. Eastern Virginia Bankshares 180.9 1,314.9 08/22/18 First Busey Corporation Banc Ed Corp. 304.9 1,853.1 11/15/16 Little Bank, Inc. Union Banc Corp. 30.7 299.5 08/13/18 BayCom Corp Bethlehem Financial Corp 23.5 156.8 11/03/16 Bay Banks of Virginia, Inc. Virginia BanCorp Inc. 31.6 323.6 07/24/18 First Bancshares, Inc. FMB Banking Corp. 80.0 480.4 10/20/16 Independent Bank Corp. Island Bancorp Inc 24.5 194.1 06/21/18 Citizens Community Bancorp, Inc. United Bank 50.7 280.8 07/01/16 North Shore Bank, FSB Layton Park Financial Grp Inc 5.7 122.9 06/15/18 Carolina Trust BancShares, Inc. Clover Community Bkshs Inc. 21.5 130.2 06/08/16 Farmers & Merchants Bancorp Delta National Bancorp 7.2 106.0 06/12/18 First Mid-Illinois Bancshares, Inc. SCB Bancorp Inc. 70.4 437.8 05/12/16 Coastal Carolina Bancshares, Inc. VistaBank 12.2 110.1 06/07/18 First Midwest Bancorp, Inc. Northern States Financial Corp 91.0 487.1 04/26/16 First Mid-Illinois Bancshares, Inc. First Clover Leaf Fin Corp. 89.5 636.9 05/18/18 Citizens Bancshares Corporation Regional Bankshares Inc. 11.3 117.0 03/14/16 First Community Financial Partners, Inc. Mazon State Bank 8.5 84.6 05/13/18 Cadence Bancorporation State Bank Finl Corp. 1,373.7 4,892.3 01/04/16 Sierra Bancorp Coast Bancorp 13.8 146.9 05/10/18 Stifel Financial Corp. Bus. Bancshares Inc. 127.4 619.5 12/17/15 Pacific Commerce Bancorp ProAmérica Bank 29.8 211.1 04/23/18 RBB Bancorp First American Intl Corp 116.8 873.4 12/03/15 First Busey Corporation Pulaski Financial Corp. 211.6 1,521.7 04/19/18 Premier Financial Bancorp, Inc. First Bank of Charleston Inc. 27.8 189.2 12/03/15 Charter Financial Corporation CBS Financial Corp. 58.7 368.7 03/14/18 HarborOne Bancorp, Inc. (MHC) Coastway Bncp, Inc. 125.6 738.9 11/23/15 BNH Financial Community Guaranty Corp. 12.9 115.1 12/20/17 Heritage Commerce Corp Tri-Valley Bank 31.1 147.2 11/10/15 RBB Bancorp TFC Holding Co. 83.2 486.9 12/13/17 South Atlantic Bancshares, Inc. Atlantic Bancshares Inc. 18.1 87.0 10/26/15 Fidelity Southern Corporation American Enterprise Bkshs Inc 26.9 205.4 12/11/17 Union Savings and Loan Association Hibernia Bancorp Inc 28.0 136.5 10/21/15 Southern BancShares (N.C.), Inc. Heritage Bankshares Inc. 50.2 340.9 12/11/17 First Mid-Illinois Bancshares, Inc. First BancTrust Corp. 73.8 465.6 10/19/15 Bank of the Ozarks, Inc. Community & Southern Hldgs Inc 799.5 3,859.5 10/24/17 Bangor Bancorp, MHC First Colebrook Bancorp Inc. 45.0 262.4 10/14/15 NCAL Bancorp Commercial Bank of California -- 328.2

Note: Data as of July 31, 2019 Source: S&P Global Market Intelligence, Janney Montgomery Scott, LLC 23 A Nationally Recognized Capital Raising Leader

. Since January 1, 2017, the Financial Institutions Capital Offerings League Tables < $1.0 Billion Assets¹ Group has helped raise more than $1.3 billion of Rank Advisor Number of Offerings equity capital, and more than $225 million of debt National capital, successfully completing 42 equity capital 1 Janney Montgomery Scott 67 raises and 14 debt capital raises 2 Sandler O'Neill 45 3 Stifel / KBW 29

Capital Offerings League Tables < $50.0 Million Offered2 Capital Offerings League Tables < $1.0 Billion Assets¹ . The Financial Institutions Group has helped raise Number of more than $4.7 billion of equity capital, and more Rank Advisor Offerings than $825 million of debt capital, successfully National completing 144 equity capital raises and 36 debt 1 Sandler O'Neill 95 2 Stifel / KBW 75 capital raises 3 Janney Montgomery Scott 72

$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 July 31, 2019 (2) Preferred and common stock offerings from January 1, 2011 to July 31, 2019 24 Source: S&P Global Market Intelligence, Janney Montgomery Scott, LLC Strong History of Capital Raising Efforts

Date of Company State Symbol Offering/Role Offering Size Offering . Specialization Most Recent FIG Partners Capital Raises Eureka Homestead Bancorp, Inc. WI ERKH IPO-Conversion $14.3 M Jul-19 BankGuam Holding Company GU BKGM.F Sub Debt $15.0 M Jun-19 FIG is among the premier investment banking and capital markets firms First Internet Bancorp IN INBK Sub Debt $35.0 M Jun-19 focused on serving the needs of small-cap financial institutions. Home Bancorp Wisconsin, Inc. WI HWIS Sole Placement Agent $4.1 M Jun-19 Red River Bancshares, Inc. LA RRBI Lead Book Runner $31.1 M May-19 BankFirst Capital Corporation MS Private Sole Placement Agent $13.0 M Apr-19 . Institutional Distribution United Bancorporation of Alabama, Inc. AL UBAB Sole Placement Agent $26.3 M Apr-19 Victory Bancorp, Inc. PA VTYB Sub Debt $3.0 M Mar-19 Our Equity Capital Markets team has excellent long-term relationships 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 with leading institutions focused on investing in small- and mid-cap Mercantil Bank Holding Corporation FL AMTB Co-Manager $81.9 M Dec-18 banks. Grand Mountain Bancshares, Inc. CO GMBB Sub Debt $1.5 M Dec-18 Embassy Bancshares, Inc. GA Private Sub Debt $5.0 M Dec-18 GrandSouth Bancorporation SC GRRB Sub Debt $10.0 M Nov-18 . Accredited Investor and Retail Network Pilot Bancshares, Inc. FL PLBN Sole Placement Agent $10.0 M Oct-18 Revere Bank MD REVB Co-Manager $47.1 M Sep-18 FIG has a deep stable of high net worth and home office investors to HarborOne Bancorp, Inc. (MHC) MA HONE Sub Debt $35.0 M Aug-18 Select Bancorp, Inc. NC SLCT Sole Book Runner $63.3 M Aug-18 ensure success on smaller market cap names. MainStreet Bancshares, Inc. VA MNSB Sole Placement Agent $45.0 M Aug-18 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 . After Market Support 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 Our Sales and Trading desk is a leading market maker in small-cap Studio Bank TN Private Sole Placement Agent $46.0 M Jun-18 BayCom Corp. CA BCML Lead Book Runner $72.1 M May-18 stocks, often trading far more shares than any of the other financial Gateway Bank, F.S.B. CA Private Sole Placement Agent $10.5 M May-18 institution “boutique” firms. Porter Bancorp, Inc. KY PBIB Financial Advisor $15.0 M Mar-18 Village Bank and Trust Financial Corp. VA VBFC Sub Debt $5.7 M Mar-18 SB Financial Group, Inc. OH SBFG Sole Book Runner $30.0 M Feb-18 . Research Capabilities 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 FIG Research team is a leading provider to community banks with 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 coverage of over 100 banks, mostly small-cap, throughout the entire First Bancshares, Inc. MS FBMS Co-Manager $58.4 M Oct-17 nation. 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 Gold Coast Bancorp NY GLDT Sub Debt $13.5 M Sep-17 . Experienced Deal Team Fidelity Financial Corporation KS Private Sub Debt $42.0 M Sep-17 Pilot Bancshares, Inc. FL PLBN Sole Placement Agent $7.5 M Sep-17 We will devote significant investment banking resources to ensure the First Internet Bancorp IN INBK Co-Manager $55.0 M Sep-17 FS Bancorp, Inc. WA FSBW Co-Manager $27.6 M Sep-17 highest level of execution. Our investment bankers have a tremendous 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 amount of experience leading equity capital transactions for our clients. Citizens Community Bancorp, Inc. WI CZWI Sub Debt $15.0 M Aug-17 Bank of Fincastle VA BFTL Sole Placement Agent $14.3 M Jul-17

25 Recent Financial Institutions Group Transactions

Agreed to Purchase Agreed to Acquire Agreed to Agreed to Acquire 4 Branches from TIG Bancorp Subordinated Debt Offering Acquire Holding Company for $15,000,000 6.35% Fixed to Floating rate Financial Advisor July 2019 Financial Advisor Financial Advisor Financial Advisor Sole Placement Agent July 2019 July 2019 July 2019 June 2019

Agreed to Sell A Agreed to be $35,000,000 Single Branch to Agreed to Acquire Acquired by $4,075,000 Subordinated Debt Offering Common Stock Offering

Financial Advisor Co-Manager Financial Advisor Sole Placement Agent Financial Advisor June 2019 June 2019 June 2019 June 2019 May 2019

Agreed to be Acquired by Agreed to Acquire Agreed to be Acquired by $31,050,000 $13,000,000 Initial Public Common Stock Offering Offering

Financial Advisor Financial Advisor Financial Advisor Lead Book Runner Sole Placement Agent May 2019 May 2019 May 2019 May 2019 April 2019

Note: Dates are as of announcement date for M&A transactions, unless noted otherwise 26 Janney Florida Team

Lozan Aleksandrov’s primary responsibilities include advising community banks on capital raising, providing and evaluating strategic alternatives, advising on buy-side and sell-side merger & acquisition transactions, branch sales and other strategic transactions. He also specializes in providing fairness opinions and various bank valuation services. Lozan joined Janney in 2019. Prior to that, Lozan joined FIG Partners in 2005 and spent two years as an equity research associate, actively following 46 small- and mid-cap banks and thrifts, before joining the investment Lozan Aleksandrov, CFA banking team. Mr. Aleksandrov has an MBA degree from Tulane University and is a CFA Managing Director, Equity Capital charterholder. At Tulane University, Mr. Aleksandrov served as an Associate Director for the Markets, Financial Institutions Group Burkenroad Reports Program, a student-run equity research shop. Direct (404) 601-7211 Mobile (404) 202-4663 [email protected]

27 Janney Florida Team

Prior to joining Janney in 2019, Matt Veneri joined FIG Partners in 2005 and has 20 years of financial services experience. He co-leads the investment banking team and serves as a strategic advisor to financial institutions. Matt focuses on M&A transactions, bank and thrift valuations and capital offerings. He has extensive experience working with community banks and has served as an advisor on more than 75 bank transactions totaling more than $3 billion. Before joining FIG, he was Vice President at Hovde Group, where he worked with financial institutions located across the Southeast, Texas, and the Rocky Mountain regions. Before that, Matt worked at Ambassador Matt Veneri Financial Group, (formerly Danielson Associates, Inc.), a regional investment banking firm that Managing Director, Co-Head of served community bank clients in the Southeast and Mid-Atlantic states. Matt received a Investment Banking Direct (404) 601-7222 Bachelor of Business Administration degree in Economics from the University of Pennsylvania. Mobile (202) 258-2450 [email protected]

John Schramm has an extensive investment banking background focused on community banks. John joined Janney in 2019. Most recently he was a Managing Director with Ranieri Partners. Prior to that he was a Managing Director in the investment banking group at Howe Barnes Hoefer & Arnett, where he co-led Howe Barnes’ expansion in the Southeast. In 2002, John co-founded the Financial Institutions Group at Triangle Capital Partners. From 1987-2002 he worked at Trident Securities, a division of McDonald Investments. John began his career as a management information systems consultant with Arthur Andersen & Co. He has a BA in Economics from John Schramm Northwestern University and an MBA in Finance from Duke University. Managing Director, Financial Institutions Group Mobile (919) 349-8541 [email protected]

28 Disclaimer

The information in this presentation is based upon various sources of information which have been supplied to Janney and reflects prevailing conditions and Janney’s views as of this date, all of which are accordingly subject to change. This information is from third party sources which are deemed reliable but Janney makes no representations or warranties as to the accuracy or completeness of this information. Any Janney estimates constitute Janney's judgment and should be regarded as indicative, preliminary and for illustrative purposes only. In preparing this presentation, relied, without independent investigation, upon the accuracy and completeness of all financial and other information provided to us or which is publicly available. Janney’s analysis is not and does not purport to be appraisals of the assets, stock or business of the any company or any other entity. Janney does not make representations as to the actual value which may be received in connection with a transaction nor the legal, tax or accounting effects of consummating a transaction. Unless expressly contemplated hereby, the information in this presentation does not take into account the effects of a possible transaction or transactions involving an actual or potential change of control, which may have significant valuation and other effects. This presentation does not represent a fairness opinion, recommendation, valuation or opinion of any kind. The information contained herein, as well as any other advice, services or other information provided to you by Janney, is being provided in for informational purposes only and may not be used or relied upon in any manner, nor are any duties or obligations created with respect thereto, except and to the extent specifically set forth in a written engagement letter or other agreement with Janney. This presentation does not constitute a commitment by Janney or any of its affiliates to underwrite, subscribe for or place any securities to extend or arrange credit or to provide any other service. Janney policy mandates that no Janney employee may directly or indirectly offer a Company favorable research or threaten to change research as consideration or inducement for the receipt of business or compensation. Member: NYSE, FINRA, SIPC

29 Financial Institutions Group