SANDLER Research Department SANDLER O’NEILL PARTNERS O’NEILL+ + PARTNERS

Mark Fitzgibbon, CFA Richard Repetto, CFA Jeffery J. Harte Principal & Principal Principal Director of Research

+ Northeast Banks & Thrifts + Asset Manager Mark Fitzgibbon, CFA 212-466-7925 Michael S. Kim 212-466-7722

Frank Schiraldi, CFA 212-466-7931 Andrew Disdier 212-466-7805 Casey Orr 212-466-8061 Alex Twerdahl 212-466-7916 + eFinance Anna Barnard 212-466-7921 Richard Repetto, CFA 212-466-7906 2015 Bank & Thrift Robert Haderer, CFA 212-466-7923 Michael Adams, CFA 212-466-7962 Nicholas Cucharale 212-466-7922 Collin Cook 212-466-8065 Sm-All Stars

+ Midwest Banks & Thrifts R. Scott Siefers 212-466-7924 + Financial Technology & Brad J. Milsaps, CFA 404-442-2857 Specialty Finance Andrew Liesch, CFA 415-978-5031 Christopher Donat, CFA 212-466-8068 Access National Corporation ~ ANCX National Penn Bancshares, Inc. ~ NPBC Matt Forgotson 212-466-8064 Crispin Love 212-466-7938 Bank of the James Financial Group, Inc. ~ BOTJ NewBridge Bancorp ~ NBBC Peter Ruiz 404-442-2886 BofI Holding, Inc. ~ BOFI Oritani Financial Corp. ~ ORIT Brendan Nosal 212-466-7918 Cardinal Financial Corporation ~ CFNL Pacific Premier Bancorp, Inc. ~ PPBI + Insurance Cathay General Bancorp ~ CATY Patriot National Bancorp, Inc. ~ PNBK

2015 Paul Newsome 312-281-3445 CB Financial Services, Inc. ~ CBFV Peapack‐Gladstone Financial Corporation ~ PGC + Southeast/Southwest Banks & Thrifts John Barnidge 312-281-3412 Eagle Bancorp, Inc. ~ EGBN Pinnacle Financial Partners, Inc. ~ PNFP Enterprise Financial Services Corp ~ EFSC Preferred Bank ~ PFBC Brad J. Milsaps, CFA 404-442-2857 Stars Sm-All Thrift & Bank First of Long Island Corporation ~ FLIC S&T Bancorp, Inc. ~ STBA Stephen Scouten, CFA 404-442-2882 + Investment, Global, and Trust Banks Casey Orr 212-466-8061 Flushing Financial Corporation ~ FFIC ServisFirst Bancshares, Inc. ~ SFBS FS Bancorp, Inc. ~ FSBW Southern First Bancshares, Inc.~ SFST Robert Haderer, CFA 212-466-7923 Jeffery Harte 312-281-3443 Sumeet Mody 312-281-3414 Guaranty Bancorp ~ GBNK Southern Missouri Bancorp, Inc. ~ SMBC Heritage Commerce Corp ~ HTBK Stonegate Bank ~ SGBK Hilltop Holdings Inc. ~ HTH Suffolk Bancorp ~ SUBK + West Coast Banks & Thrifts + Real Estate HomeStreet, Inc. ~ HMST Texas Capital Bancshares, Inc. ~ TCBI Tim O’Brien 415-978-5033 Alexander Goldfarb 212-466-7937 MainSource Financial Group, Inc.~ MSFG United Community Banks, Inc. ~ UCBI Monarch Financial Holdings, Inc. ~ MNRK West Bancorporation, Inc. ~ WTBA Aaron Deer 415-978-5032 Ryan Peterson 212-466-7927 Brad J. Milsaps, CFA 404-442-2857 Andrew Liesch, CFA 415-978-5031 Alexander Morris 415-978-5034

© Sandler O'Neill + Partners, L.P. All rights reserved. Sandler O'Neill does and seeks to do business with companies covered in its research reports. As a result, investors should be aware that NewYork + Atlanta + Boston + Chicago + San Francisco Sandler O'Neill may have a conflict of interest that could affect the objectivity of the report. Investors should consider this report as only a single factor in making their investment decision. Please see "Important Disclosures" and the analyst certifications in the Appendix of this report. Sandler O’Neill Sm-All Stars: Class of 2015

We are pleased to announce the 34 banks and thrifts that comprise the Sandler O’Neill Sm-All Stars Class of 2015. This year’s class admits 13 new members and welcomes back 21 alumni. The objective of the Sm-All Stars remains the same: to identify the top performing small-cap banks and thrifts in the country. In doing this, we hope to uncover the next crop of stellar mid-cap banks before they are discovered by the rest of the world.

To identify the small-cap companies that stand out from the pack, we evaluated all 435 publicly traded banks and thrifts with a market cap below $2.5 bil. To incorporate a liquidity restraint, we placed a $25 million cutoff at the low-end of the market cap range. Companies then needed to clear numerous hurdles to earn Sm-All Star status. Specifically, our evaluation focused on growth, profitability, credit quality, and capital strength. In addition to exceeding the industry medians in each of the five metrics we outline below, companies needed to report a NCO ratio over the last twelve months of less than 25 bps and a TCE ratio of above 7% at 6/30/15. In all, our screening methodology (detailed on page 3) eliminated 401 institutions, or 92% of the institutions being evaluated. The performance metrics of the remaining 34 institutions are outstanding, with the Class of 2015 delivering bottom line results that are markedly better than the industry as a whole, as shown below.

Performance Metrics: 2015 Sm-All Stars vs. Industry Medians Sm-All All Banks & Stars Thrifts Last Twelve Months Median Median EPS Growth 22.1% 6.6% Loan Growth 19.0% 9.2% Deposit Growth 14.3% 6.5% ROAE 10.1% 7.9% NPAs 1 / Loans and OREO 0.5% 1.0% 1 Accruing TDRs are excluded from NPAs

Source: SNL Financial and Sandler O'Neill

Banks in the Mid-Atlantic region have held the dominant share in each Sm-All Star class since the downturn, and that continued to be the case this year, with 38% of the group hailing from Maryland, New Jersey, New York, Pennsylvania, and Virginia. We also continued to see the resurgence of the West Coast banks, with California banks occupying the most seats of any state in the class (5). Finally, we believe it is worth noting the improvement in the performance metrics of the industry this year, and the resulting higher hurdles these banks needed to cross. Performance measures industry-wide improved across the board - most notably, EPS growth picked up to 7% versus 3% last year and while the median ROE for the group remained lower than historical norms, we saw a modest improvement to 7.9% from 7.4%.

While other factors, such as valuation and risk, should be used in making investment decisions, we believe that the Sm-All Stars approach represents a valid starting point in identifying high quality small-cap companies before they are discovered by Wall Street.

Mark Fitzgibbon, CFA, Principal & Director of Research Casey Orr, Associate Director 212-466-7925 212-466-8061 [email protected] [email protected]

1 Class of 2015 Sm-All Stars

Past Sm-All Stars Assets Market Cap 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 Company Name Ticker Industry City State ($M) ($M) Access National Corporation ANCX Bank Reston VA 1,166 215 Bank of the James Financial Group, Inc. BOTJ Bank Lynchburg VA 493 38 BofI Holding, Inc. BOFI Thrift San Diego CA 5,824 1,896 Cardinal Financial Corporation CFNL Bank McLean VA 3,765 735 Cathay General Bancorp CATY Bank Los Angeles CA 11,918 2,471 CB Financial Services, Inc. CBFV Bank Carmichaels PA 837 87 Eagle Bancorp, Inc. EGBN Bank Bethesda MD 5,754 1,435 Enterprise Financial Services Corp EFSC Bank Clayton MO 3,371 485 First of Long Island Corporation FLIC Bank Glen Head NY 2,829 373 Flushing Financial Corporation FFIC Bank Uniondale NY 5,360 574 FS Bancorp, Inc. FSBW Thrift Mountlake Terrace WA 569 76 Guaranty Bancorp GBNK Bank Denver CO 2,270 367 Heritage Commerce Corp HTBK Bank San Jose CA 1,680 364 Hilltop Holdings Inc. HTH Bank Dallas TX 12,477 2,008 HomeStreet, Inc. HMST Thrift Seattle WA 4,866 495 MainSource Financial Group, Inc. MSFG Bank Greensburg IN 3,240 458 Monarch Financial Holdings, Inc. MNRK Bank Chesapeake VA 1,171 136 National Penn Bancshares, Inc. NPBC Bank Allentown PA 9,604 1,652 NewBridge Bancorp NBBC Bank Greensboro NC 2,779 326 Oritani Financial Corp. ORIT Thrift Township of Washington NJ 3,353 674 Pacific Premier Bancorp, Inc. PPBI Bank Irvine CA 2,637 448 Patriot National Bancorp, Inc. PNBK Bank Stamford CT 629 66 Peapack-Gladstone Financial Corporation PGC Bank Bedminster NJ 3,118 329 Pinnacle Financial Partners, Inc. PNFP Bank Nashville TN 6,517 1,789 Preferred Bank PFBC Bank Los Angeles CA 2,170 426 S&T Bancorp, Inc. STBA Bank Indiana PA 6,134 1,101 ServisFirst Bancshares, Inc. SFBS Bank Birmingham AL 4,493 1,073 Southern First Bancshares, Inc. SFST Bank Greenville SC 1,119 123 Southern Missouri Bancorp, Inc. SMBC Bank Poplar Bluff MO 1,300 155 Stonegate Bank SGBK Bank Pompano Beach FL 2,272 403 Suffolk Bancorp SUBK Bank Riverhead NY 1,998 324 Texas Capital Bancshares, Inc. TCBI Bank Dallas TX 17,817 2,406 United Community Banks, Inc. UCBI Bank Blairsville GA 8,246 1,416 West Bancorporation, Inc. WTBA Bank West Des Moines IA 1,654 307

Source: SNL Financial and Sandler O'Neill

2 Sm-All Star Screening Methodology Companies were evaluated based on seven financial variables. To incorporate fundamental momentum in our evaluation, we included year-over-year growth trends in (1) EPS, (2) loans, and (3) deposits. As a measure of profitability, we included the last twelve months (4) ROAE. Asset quality measures included the (5) nonperforming assets to loans plus OREO ratio and the (6) net charge-off ratio. Finally, we included the (7) TCE/TA ratio as an indicator of capital levels. We note that we have excluded accruing TDRs from our calculation of NPAs as this data was unavailable for a large number of companies. To earn Sm-All Star status, the companies needed to be at or above the peer median for all banks and thrifts for each of the first five metrics surveyed. In addition, companies needed to report a NCO ratio over the last 12 months measuring under 25 bps of average loans and a TCE ratio of above 7% at 6/30/15. Finally, companies needed to have a market cap below $2.5 bil. To incorporate a liquidity constraint, we placed a $25 mil. cutoff at the low-end of the market cap range as well.

We note that the above methodology incorporates a few changes from years past pertaining to credit and capital. First, historically we required banks to have a Tier 1 ratio above the regulatory minimum, while this year in addition companies needed to have a TCE ratio of above 7%, which we believe to a certain degree normalizes capital for the ROE calculation. Additionally, we removed the requirement for banks to be above the industry median for its reserves/NPA ratio as we didn’t feel that this was as important of a metric for determining credit quality and capital levels. Finally, with industry medians for NCO ratios approaching zero, we didn't want to penalize banks for just missing the industry median. Therefore, we thought it was more appropriate to use a 25 bps threshold for the NCO ratio instead.

Sm-All Stars Covered by Sandler O'Neill

Company Name Ticker SOP Analyst Rating 1 BofI Holding, Inc. BOFI Andrew Liesch HOLD 2 Cardinal Financial Corporation CFNL Casey Orr HOLD 3 Cathay General Bancorp CATY Aaron Deer BUY 4 Eagle Bancorp, Inc. EGBN Casey Orr HOLD 5 Enterprise Financial Services Corp EFSC Andrew Liesch BUY 6 First of Long Island Corporation FLIC Alexander Twerdahl BUY 7 Flushing Financial Corporation FFIC Mark Fitzgibbon HOLD 8 Guaranty Bancorp GBNK Tim O'Brien HOLD 9 Heritage Commerce Corp HTBK Tim O'Brien BUY 10 MainSource Financial Group, Inc. MSFG Scott Siefers BUY 11 National Penn Bancshares, Inc. NPBC Frank Schiraldi BUY 12 NewBridge Bancorp NBBC Stephen Scouten HOLD 13 Oritani Financial Corp. ORIT Frank Schiraldi BUY 14 Pacific Premier Bancorp, Inc. PPBI Andrew Liesch BUY 15 Peapack-Gladstone Financial Corporation PGC Anna Barnard BUY 16 Pinnacle Financial Partners, Inc. PNFP Stephen Scouten BUY 17 Preferred Bank PFBC Aaron Deer BUY 18 ServisFirst Bancshares, Inc. SFBS Brad Milsaps BUY 19 Southern First Bancshares, Inc. SFST Casey Orr HOLD 20 Southern Missouri Bancorp, Inc. SMBC Andrew Liesch BUY 21 Stonegate Bank SGBK Anna Barnard HOLD 22 Suffolk Bancorp SUBK Alexander Twerdahl BUY 23 Texas Capital Bancshares, Inc. TCBI Brad Milsaps HOLD 24 United Community Banks, Inc. UCBI Brad Milsaps BUY 25 West Bancorporation, Inc. WTBA Andrew Liesch HOLD

Note: SOP ratings as of 9/21/15 Source: Sandler O'Neill

3 Sm-All Stars: Valuation Metrics

Average Price / Price / Daily 2016E Tangible Core Market Cap Volume EPS 1 Book Deposit Company Name Ticker ($M) (Shares) (x) (%) Premium HomeStreet, Inc. HMST 495 144,975 7.8 116 2% CB Financial Services, Inc. CBFV 87 4,068 9.3 117 2% Southern Missouri Bancorp, Inc. SMBC 155 4,059 9.5 149 6% Monarch Financial Holdings, Inc. MNRK 136 8,538 10.3 121 3% Hilltop Holdings Inc. HTH 2,008 428,621 11.0 148 11% MainSource Financial Group, Inc. MSFG 458 37,553 11.8 158 7% Southern First Bancshares, Inc. SFST 123 8,296 11.8 140 5% NewBridge Bancorp NBBC 326 98,386 12.3 144 6% Pacific Premier Bancorp, Inc. PPBI 448 89,509 12.8 201 12% First of Long Island Corporation FLIC 373 22,047 12.9 156 7% Flushing Financial Corporation FFIC 574 88,026 13.1 129 4% Enterprise Financial Services Corp EFSC 485 55,188 13.4 163 8% United Community Banks, Inc. UCBI 1,416 342,947 13.4 156 7% West Bancorporation, Inc. WTBA 307 17,697 13.6 211 12% Preferred Bank PFBC 426 37,889 13.8 170 11% S&T Bancorp, Inc. STBA 1,101 117,365 13.9 233 14% Peapack-Gladstone Financial Corporation PGC 329 34,503 14.3 129 3% Cathay General Bancorp CATY 2,471 616,763 14.4 178 18% Guaranty Bancorp GBNK 367 46,453 14.4 177 10% National Penn Bancshares, Inc. NPBC 1,652 1,638,035 14.6 200 13% Texas Capital Bancshares, Inc. TCBI 2,406 536,138 14.7 174 8% Stonegate Bank SGBK 403 40,275 14.9 189 12% Access National Corporation ANCX 215 55,639 15.4 208 16% Cardinal Financial Corporation CFNL 735 152,035 15.4 204 16% ServisFirst Bancshares, Inc. SFBS 1,073 144,737 15.6 270 20% Pinnacle Financial Partners, Inc. PNFP 1,789 169,873 15.9 290 24% Suffolk Bancorp SUBK 324 26,585 16.1 170 9% Heritage Commerce Corp HTBK 364 83,119 16.4 199 12% Eagle Bancorp, Inc. EGBN 1,435 113,766 16.4 246 19% Oritani Financial Corp. ORIT 674 180,650 17.6 131 10% BofI Holding, Inc. BOFI 1,896 288,105 17.8 356 33%

No First Call consensus estimates for the following companies: Bank of the James Financial Group, Inc. BOTJ 38 2,835 NA 106 1% FS Bancorp, Inc. FSBW 75 4,767 NA 106 1% Patriot National Bancorp, Inc. PNBK 67 6,403 NA 111 2%

1 Factset consensus estimates

Source: SNL Financial and Sandler O'Neill

4 Sm-All Stars: Performance Metrics

Deposit NPAs 1 / Loans NCOs / Avg Company Name Ticker Industry EPS Growth Loan Growth Growth ROAE and OREO Loans TCE Ratio LTM LTM LTM LTM At 6/30/15 LTM At 6/30/15 (%) (%) (%) (%) (%) (%) (%) Access National Corporation ANCX Bank 39.1 12.7 14.4 16.0 0.9 (0.02) 8.8 Bank of the James Financial Group, Inc. BOTJ Bank 22.2 14.7 11.3 10.8 0.9 0.19 7.3 BofI Holding, Inc. BOFI Thrift 39.5 39.6 46.4 18.2 0.6 0.03 9.1 Cardinal Financial Corporation CFNL Bank 113.4 16.9 20.5 12.2 0.0 0.01 9.7 Cathay General Bancorp CATY Bank 18.0 11.0 8.8 9.5 0.9 0.02 11.6 CB Financial Services, Inc. CBFV Bank 12.2 71.2 46.5 10.2 0.5 0.06 9.0 Eagle Bancorp, Inc. EGBN Bank 21.2 38.8 43.3 11.5 0.5 0.18 10.3 Enterprise Financial Services Corp EFSC Bank 25.0 11.0 9.2 10.1 0.7 0.10 8.9 First of Long Island Corporation FLIC Bank 8.9 25.7 15.7 10.4 0.2 0.02 8.4 Flushing Financial Corporation FFIC Bank 8.3 14.1 14.2 10.0 0.8 0.03 8.3 FS Bancorp, Inc. FSBW Thrift 120.9 32.7 33.8 11.5 0.2 0.17 12.5 Guaranty Bancorp GBNK Bank 6.8 16.0 12.2 7.9 0.9 (0.04) 9.2 Heritage Commerce Corp HTBK Bank 22.5 14.5 14.1 8.5 0.5 (0.03) 9.1 Hilltop Holdings Inc. HTH Bank 51.9 19.5 10.4 13.0 0.5 0.03 11.2 HomeStreet, Inc. HMST Thrift 124.1 59.5 37.4 9.3 0.8 (0.01) 8.8 MainSource Financial Group, Inc. MSFG Bank 7.1 17.3 12.4 9.1 0.9 0.07 9.2 Monarch Financial Holdings, Inc. MNRK Bank 18.6 13.3 9.8 11.7 0.2 0.10 9.6 National Penn Bancshares, Inc. NPBC Bank 9.0 14.0 10.2 9.1 0.7 0.20 8.9 NewBridge Bancorp NBBC Bank 78.6 16.1 7.5 8.1 0.3 0.10 8.2 Oritani Financial Corp. ORIT Thrift 17.0 9.9 24.1 9.1 0.6 0.03 15.4 Pacific Premier Bancorp, Inc. PPBI Bank 16.5 44.4 45.0 8.3 0.2 0.06 8.6 Patriot National Bancorp, Inc. PNBK Bank NM 21.1 7.3 28.4 0.1 0.05 9.6 Peapack-Gladstone Financial Corporation PGC Bank 24.8 46.2 25.9 8.2 0.3 0.01 8.2 Pinnacle Financial Partners, Inc. PNFP Bank 26.9 11.9 7.4 10.1 0.5 0.13 9.5 Preferred Bank PFBC Bank 22.1 21.7 14.1 11.5 0.5 (0.24) 11.5 S&T Bancorp, Inc. STBA Bank 7.9 28.8 25.7 9.1 0.4 0.09 8.1 ServisFirst Bancshares, Inc. SFBS Bank 8.4 26.5 18.1 13.6 0.4 0.15 8.9 Southern First Bancshares, Inc. SFST Bank 28.4 18.5 19.7 10.2 1.0 0.23 7.8 Southern Missouri Bancorp, Inc. SMBC Bank 23.4 31.6 34.3 10.7 0.8 0.01 8.1 Stonegate Bank SGBK Bank 76.8 46.9 36.5 8.5 0.4 (0.01) 9.6 Suffolk Bancorp SUBK Bank 13.4 23.5 9.6 9.2 0.4 (0.06) 9.5 Texas Capital Bancshares, Inc. TCBI Bank 11.0 24.7 31.9 10.4 0.8 0.06 7.8 United Community Banks, Inc. UCBI Bank 22.1 17.2 10.5 9.4 0.4 0.20 9.7 West Bancorporation, Inc. WTBA Bank 19.8 13.1 8.3 15.2 0.4 (0.03) 8.8

Sm-All Star Median 22.1 19.0 14.3 10.1 0.5 0.04 9.0 All Banks and Thrifts Median 6.6 9.2 6.5 7.9 1.0 < 0.25% > 7%

Note: EPS, loan and deposit growth for all banks and thrifts excludes companies with growth of over 50% from calculation of median 1 Accruing TDRs are excluded from NPAs

Source: SNL Financial and Sandler O'Neill

5 2015 Sm-All Star State-by-State Breakdown

FSBW HMST

FFIC FLIC SUBK BOFI CATY CBFV PNBK - CT HTBK WTBA NPBC ORIT PFBC STBA NJ PPBI MSFG PGC

GBNK EGBN - MD EFSC ANCX SMBC BOTJ CFNL VA NBBC MNRK PNFP

SFST

UCBI SFBS HTH TCBI

SGBK

6 Sm-All Star Directory

Company Profiles Page Access National Corporation 8 Bank of the James Financial Group, Inc. 10 BofI Holding, Inc. 12 Cardinal Financial Corporation 14 Cathay General Bancorp 16 CB Financial Services, Inc. 18 Eagle Bancorp, Inc. 20 Enterprise Financial Services Corp 22 First of Long Island Corporation 24 Flushing Financial Corporation 26 FS Bancorp, Inc. 28 Guaranty Bancorp 30 Heritage Commerce Corp 32 Hilltop Holdings Inc. 34 HomeStreet, Inc. 36 MainSource Financial Group, Inc. 38 Monarch Financial Holdings, Inc. 40 National Penn Bancshares, Inc. 42 NewBridge Bancorp 44 Oritani Financial Corp. 46 Pacific Premier Bancorp, Inc. 48 Patriot National Bancorp, Inc. 50 Peapack-Gladstone Financial Corporation 52 Pinnacle Financial Partners, Inc. 54 Preferred Bank 56 S&T Bancorp, Inc. 58 ServisFirst Bancshares, Inc. 60 Southern First Bancshares, Inc. 62 Southern Missouri Bancorp, Inc. 64 Stonegate Bank 66 Suffolk Bancorp 68 Texas Capital Bancshares, Inc. 70 United Community Banks, Inc. 72 West Bancorporation, Inc. 74

Important Disclosures 76

Note: Priced as of September 21, 2015.

7 Access National Corporation NASDAQ: ANCX - $20.41 Access National Corporation Statistics: Market Cap: $214.7 million CEO: Michael W. Clarke Assets: $1,166 million CEO Age: 53 Employees: 233 Headquarters: Reston, VA Full-Service Offices: 5 Primary Markets: VA ------Key "Sm-All Stars" Stats------EPS Growth Loan Growth Deposit Growth ROAE Median 6.6% 9.2% 6.5% 7.9% ANCX 39.1% 12.7% 14.4% 16.0%

NPAs 1 / Loans and OREO NCOs / Avg. Loans TCE / TA Median 1.0% < 0.25% > 7.0% ANCX 0.9% -0.02% 8.8% Company Description Access National Corporation is the parent company of Access National Bank, an independent, nationally chartered bank serving the business community of the greater Washington DC Metropolitan area with 5 full service branches. As of 6/30, the company has $1.2 bil. in assets and $905 mil. in deposits.

Stock Price History LTM P/E History 2

Source: SNL Financial Source: SNL Financial

52-Week Range $16 - $23 Annual Dividend $0.60 3-Mo Avg. Daily Vol. 55,639 Yield 2.9% Stated Book Value $9.94 Price/Book 205% Tangible Book Value $9.79 Price/Tangible Book 208%

EOP Loans (as of 6/30/2015) EOP Deposits (as of 6/30/2015)

Owner- Non Owner- Occupied Occupied CDARS CRE CRE 12% Consumer 26% 16% Brokered 13% Demand 1% 37%

Residential Real Estate Real Estate Time 24% Interest- Construction 13% Savings & Bearing 6% Money Commercial Demand 27% Market 13% 12%

1 Accruing TDRs are excluded from NPAs 2 P/E multiples above 40x are excluded from chart

Source: Sandler O'Neill + Partners, L.P. and SNL Financial. 8 Access National Corporation ANCX Quarterly Snapshot 0.23 2Q15 1Q15 4Q14 3Q14 2Q14 Per Share Data: Diluted EPS $0.38 $0.34 $0.34 $0.47 $0.29 Core EPS $0.38 $0.34 $0.34 $0.47 $0.29 Book Value Per Share $9.94 $9.75 $9.45 $9.55 $9.22 Tangible Book Value Per Share $9.79 $9.61 $9.30 $9.40 $9.08 Dividend Per Share $0.15 $0.14 $0.49 $0.13 $0.12 Period End Stock Price $19.44 $18.74 $16.92 $16.23 $15.16 Average Diluted Shares (millions) 10.6 10.5 10.5 10.5 10.5 Shares Outstanding (millions) 10.5 10.5 10.5 10.4 10.4

Performance Ratios: ROA (Core) 1.44% 1.36% 1.39% 1.97% 1.29% ROE (Core) 15.5% 14.2% 14.0% 20.3% 12.9% NIM 3.67% 3.74% 3.84% 3.79% 3.80% Efficiency Ratio 63.0% 64.9% 63.6% 46.8% 65.9% Fee Income/ Operating Revenue 41.9% 40.0% 37.1% 36.3% 38.0% Effective Tax Rate 34.5% 35.0% 34.8% 35.2% 35.6% Dividend Payout Ratio 39.5% 41.2% 144.1% 27.7% 41.4%

Balance Sheet Ratios: Loans/ Deposits 92.1% 101.0% 102.8% 99.3% 93.5% Loans/ Earning Assets 75.0% 78.6% 77.1% 74.8% 78.1% Tangible Equity/ Assets 8.8% 9.5% 9.3% 9.7% 9.5% Securities/ Assets 13.8% 13.5% 14.1% 14.8% 13.2%

Asset Quality Ratios: NPAs/ Assets 0.88% 0.80% 0.26% 0.29% 0.25% Reserve/ Loans 1.53% 1.57% 1.63% 1.72% 1.67% Reserve/ NPAs 132% 156% 490% 455% 535% NCOs/ Average Loans -0.01% 0.03% -0.08% -0.02% -0.02%

Annualized Growth Rates: Gross Loans HFI 20.2% 9.1% 27.2% -7.0% 13.0% Deposits 20.2% 9.1% 27.2% -7.0% 13.0% EPS 47.1% 0.0% -110.6% 248.3% 104.3%

Annual Snapshot 2014 2013 2012 2011 2010 Per Share Data: Diluted EPS $1.33 $1.27 $1.71 $1.10 $0.72 Core EPS $1.33 $1.27 $1.71 $1.10 $0.71 Book Value Per Share $9.45 $8.79 $8.85 $8.12 $6.96 Tangible Book Value Per Share $9.30 $8.79 $8.85 $8.12 $6.96 Dividend Per Share $0.85 $1.11 $0.95 $0.13 $0.04 Period End Stock Price $16.92 $14.95 $13.00 $8.80 $6.46 Average Diluted Shares (millions) 10.5 10.4 10.4 10.3 10.5 Shares Outstanding (millions) 10.5 10.4 10.3 10.2 10.4

Performance Ratios: ROA (Core) 1.45% 1.55% 2.15% 1.50% 0.96% ROE (Core) 14.4% 14.0% 19.7% 14.8% 10.7% NIM 3.81% 3.85% 3.94% 3.85% 3.41% Efficiency Ratio 60.5% 65.0% 65.3% 71.4% 69.8% Fee Income/ Operating Revenue 35.3% 46.7% 63.5% 56.4% 57.9% Effective Tax Rate 35.3% 35.4% 37.7% 35.6% 37.4% Dividend Payout Ratio 63.9% 87.4% 55.6% 11.8% 5.6%

Balance Sheet Ratios: Loans/ Deposits 102.8% 119.9% 91.9% 88.3% 78.3% Loans/ Earning Assets 77.1% 82.7% 83.1% 80.9% 68.1% Tangible Equity/ Assets 9.3% 10.8% 10.6% 10.2% 8.7% Securities/ Assets 14.1% 12.0% 9.9% 11.1% 15.5%

Asset Quality Ratios: NPAs/ Assets 0.26% 0.35% 0.37% 0.85% 1.28% Reserve/ Loans 1.63% 1.85% 1.72% 1.77% 1.83% Reserve/ NPAs 490% 444% 387% 171% 99% NCOs/ Average Loans -0.03% 0.01% 0.11% -0.01% 0.26%

Annual Growth Rates: Gross Loans HFI 13.0% 11.4% 8.4% 15.8% 1.0% Deposits 31.8% -14.7% 4.1% 2.7% 34.5% EPS 4.7% -25.7% 55.5% 52.8% -21.7%

3-Year EPS CAGR 6.5% 5-Year EPS CAGR 7.6% Note: All data as calculated by SNL Financial Source: SNL Financial

9 Bank of the James Financial Group, Inc. NASDAQ: BOTJ - $11.21 Bank of the James Financial Group, Inc. Statistics: Market Cap: $37.8 million CEO: Robert R. Chapman III Assets: $493 million CEO Age: 52 Employees: 122 Headquarters: Lynchburg, VA Full-Service Offices: 9 Primary Markets: VA ------Key "Sm-All Stars" Stats------EPS Growth Loan Growth Deposit Growth ROAE Median 6.6% 9.2% 6.5% 7.9% BOTJ 22.2% 14.7% 11.3% 10.8%

NPAs 1 / Loans and OREO NCOs / Avg. Loans TCE / TA Median 1.0% < 0.25% > 7.0% BOTJ 0.9% 0.19% 7.3% Company Description Bank of the James, a wholly owned subsidiary of Bank of the James Financial Group, Inc., serves the greater Lynchburg, VA MSA, often referred to as Region 2000, and other markets in and around Central VA. The bank operates 9 full service locations, 1 limited service branch, 2 loan production offices, and an investment services division.

Stock Price History LTM P/E History 2

Source: SNL Financial Source: SNL Financial

52-Week Range $9 - $13 Annual Dividend $0.24 3-Mo Avg. Daily Vol. 2,346 Yield 2.1% Stated Book Value $10.62 Price/Book 106% Tangible Book Value $10.62 Price/Tangible Book 106%

EOP Loans (as of 6/30/2015) EOP Deposits (as of 6/30/2015) Noninterest- Bearing Demand Commercial CRE Time 19% 16% 52% 32%

Residential NOW, MM, 13% Consumer & Savings 19% 49%

1 Accruing TDRs are excluded from NPAs 2 P/E multiples above 40x are excluded from chart

Source: Sandler O'Neill + Partners, L.P. and SNL Financial. 10 Bank of the James Financial Group, Inc. BOTJ Quarterly Snapshot 0.21 2Q15 1Q15 4Q14 3Q14 2Q14 Per Share Data: Diluted EPS $0.28 $0.27 $0.28 $0.27 $0.25 Core EPS $0.28 $0.26 $0.27 $0.27 $0.23 Book Value Per Share $10.62 $10.60 $10.31 $9.94 $9.70 Tangible Book Value Per Share $10.62 $10.60 $10.31 $9.94 $9.70 Dividend Per Share $0.11 $0.05 $0.05 $0.05 $0.05 Period End Stock Price $11.36 $11.02 $10.30 $9.00 $8.90 Average Diluted Shares (millions) 3.4 3.4 3.4 3.4 3.4 Shares Outstanding (millions) 3.4 3.4 3.4 3.4 3.4

Performance Ratios: ROA (Core) 0.78% 0.76% 0.80% 0.80% 0.70% ROE (Core) 10.6% 10.3% 10.7% 10.9% 9.6% NIM 3.79% 3.76% 4.08% 4.00% 3.95% Efficiency Ratio 72.2% 71.8% 78.5% 73.4% 74.4% Fee Income/ Operating Revenue 19.9% 18.0% 17.8% 18.2% 17.8% Effective Tax Rate 32.1% 32.0% 16.0% 31.7% 31.1% Dividend Payout Ratio 39.3% 18.5% 17.9% 18.5% 20.0%

Balance Sheet Ratios: Loans/ Deposits 93.6% 93.1% 100.0% 94.8% 90.8% Loans/ Earning Assets 84.4% 83.2% 86.0% 83.3% 81.1% Tangible Equity/ Assets 7.3% 7.3% 7.5% 7.4% 7.3% Securities/ Assets 6.8% 5.7% 6.2% 8.4% 9.0%

Asset Quality Ratios: NPAs/ Assets 0.98% 0.94% 1.05% 1.10% 1.13% Reserve/ Loans 1.09% 1.16% 1.20% 1.28% 1.41% Reserve/ NPAs 95% 104% 99% 98% 103% NCOs/ Average Loans 0.21% 0.14% 0.09% 0.32% 0.09%

Annualized Growth Rates: Gross Loans HFI 8.5% 9.0% 22.3% 16.1% 10.4% Deposits 8.5% 9.0% 22.3% 16.1% 10.4% EPS 14.8% -14.3% 14.8% 32.0% 76.2%

Annual Snapshot 2014 2013 2012 2011 2010 Per Share Data: Diluted EPS $1.01 $0.91 $0.64 $0.18 $0.55 Core EPS $0.98 $0.82 $0.51 ($0.05) $0.48 Book Value Per Share $10.31 $8.85 $8.83 $8.02 $7.67 Tangible Book Value Per Share $10.31 $8.85 $8.83 $8.02 $7.67 Dividend Per Share $0.15 $0.00 $0.00 $0.00 $0.00 Period End Stock Price $10.30 $9.29 $5.70 $4.40 $6.50 Average Diluted Shares (millions) 3.4 3.4 3.3 3.3 3.3 Shares Outstanding (millions) 3.4 3.4 3.4 3.3 3.3

Performance Ratios: ROA (Core) 0.74% 0.64% 0.39% -0.04% 0.38% ROE (Core) 10.0% 9.2% 6.2% -0.6% 6.3% NIM 3.97% 4.08% 4.03% 3.89% 3.94% Efficiency Ratio 75.5% 74.9% 72.3% 71.9% 72.5% Fee Income/ Operating Revenue 17.4% 15.9% 15.8% 14.0% 17.2% Effective Tax Rate 27.4% 25.4% 20.3% -18.3% 25.2% Dividend Payout Ratio 14.9% 0.0% 0.0% 0.0% 0.0%

Balance Sheet Ratios: Loans/ Deposits 100.0% 89.1% 81.6% 86.7% 88.5% Loans/ Earning Assets 86.0% 78.9% 73.0% 75.0% 76.9% Tangible Equity/ Assets 7.5% 6.9% 6.7% 6.3% 6.1% Securities/ Assets 6.2% 11.8% 12.4% 13.7% 13.1%

Asset Quality Ratios: NPAs/ Assets 1.05% 1.17% 2.05% 3.37% 4.01% Reserve/ Loans 1.20% 1.49% 1.70% 1.73% 1.68% Reserve/ NPAs 99% 102% 61% 39% 33% NCOs/ Average Loans 0.12% 0.27% 0.73% 1.44% 0.49%

Annual Growth Rates: Gross Loans HFI 15.7% 6.1% 0.3% -0.6% 1.1% Deposits 3.1% -2.9% 6.6% 1.6% -2.0% EPS 11.0% 42.2% 255.6% -67.3% NM

3-Year EPS CAGR 77.7% 5-Year EPS CAGR NM Note: All data as calculated by SNL Financial Source: SNL Financial

11 BofI Holding, Inc. NASDAQ: BOFI - $121.21 SOP Analyst: Andrew Liesch, CFA BofI Holding, Inc. Statistics: Market Cap: $1,895.8 million CEO: Gregory Garrabrants Assets: $5,824 million CEO Age: 43 Employees: 467 Headquarters: San Diego, CA Full-Service Offices: 1 Primary Markets: CA, MO ------Key "Sm-All Stars" Stats------EPS Growth Loan Growth Deposit Growth ROAE Median 6.6% 9.2% 6.5% 7.9% BOFI 39.5% 39.6% 46.4% 18.2%

NPAs 1 / Loans and OREO NCOs / Avg. Loans TCE / TA Median 1.0% < 0.25% > 7.0% BOFI 0.6% 0.03% 9.1% Company Description BofI Holding, Inc. is the holding company for BofI Federal Bank, a nationwide bank that provides financing for single and multifamily residential properties, small-to-medium size businesses in target sectors, and selected specialty finance receivables. With over $5.8 bil. in assets, BofI Federal Bank provides consumer and business banking products through its low-cost distribution channels and affinity partners. BofI Holding, Inc.’s common stock is listed on the NASDAQ Global Select Market under the symbol “BOFI” and is a component of the Russell 2000® Index and the S&P SmallCap 600® Index.

Stock Price History LTM P/E History 2

Source: SNL Financial Source: SNL Financial

52-Week Range $65 - $135 Annual Dividend $0.00 3-Mo Avg. Daily Vol. 288,105 Yield 0.0% Stated Book Value $34.05 Price/Book 356% Tangible Book Value $34.05 Price/Tangible Book 356%

EOP Loans (as of 6/30/2015) EOP Deposits (as of 6/30/2015) Single Family Mortgage Time > Noninterest- 60% $100k Bearing 16% 7% Interest- Time < Bearing $100k Demand 2% 27% C&I 5%

Factoring 2% Single Family Multi-Family Warehouse & Savings CRE 24% Other 48% 1% 8%

1 Accruing TDRs are excluded from NPAs 2 P/E multiples above 40x are excluded from chart

Source: Sandler O'Neill + Partners, L.P. and SNL Financial. 12 BofI Holding, Inc. BOFI Quarterly Snapshot 1 2Q15 1Q15 4Q14 3Q14 2Q14 Per Share Data: Diluted EPS $1.54 $1.35 $1.26 $1.20 $1.09 Core EPS $1.55 $1.38 $1.25 $1.25 $1.12 Book Value Per Share $34.05 $32.12 $29.65 $27.57 $25.31 Tangible Book Value Per Share $34.05 $32.12 $29.65 $27.57 $25.31 Dividend Per Share $0.00 $0.00 $0.00 $0.00 $0.00 Period End Stock Price $105.71 $93.04 $77.81 $72.71 $73.47 Average Diluted Shares (millions) 15.8 15.6 15.3 14.8 14.7 Shares Outstanding (millions) 15.5 15.3 15.0 14.8 14.5

Performance Ratios: ROA (Core) 1.73% 1.62% 1.51% 1.63% 1.61% ROE (Core) 18.8% 18.1% 18.7% 19.3% 18.4% NIM 3.97% 3.85% 3.85% 3.98% 4.02% Efficiency Ratio 31.6% 34.1% 34.7% 34.0% 34.4% Fee Income/ Operating Revenue 15.9% 15.2% 11.7% 12.6% 11.7% Effective Tax Rate 41.8% 41.1% 41.2% 40.9% 41.1% Dividend Payout Ratio 0.0% 0.0% 0.0% 0.0% 0.0%

Balance Sheet Ratios: Loans/ Deposits 111.3% 106.8% 108.0% 122.0% 116.8% Loans/ Earning Assets 86.5% 86.0% 85.4% 84.0% 83.4% Tangible Equity/ Assets 9.2% 9.0% 8.7% 8.5% 8.4% Securities/ Assets 8.0% 8.2% 9.0% 10.5% 11.7%

Asset Quality Ratios: NPAs/ Assets 0.64% 0.76% 0.81% 0.63% 0.62% Reserve/ Loans 0.56% 0.53% 0.52% 0.50% 0.50% Reserve/ NPAs 88% 70% 64% 80% 80% NCOs/ Average Loans 0.00% 0.06% 0.02% 0.04% -0.02%

Annualized Growth Rates: Gross Loans HFI 23.8% 28.4% 38.0% 41.6% 63.4% Deposits 7.6% 36.3% 91.2% 29.0% 29.4% EPS 56.3% 28.6% 20.0% 40.4% 36.0%

Annual Snapshot 2014 2013 2012 2011 2010 Per Share Data: Diluted EPS $3.85 $2.89 $2.33 $1.87 $2.22 Core EPS $3.97 $3.04 $2.48 $1.82 $1.73 Book Value Per Share $25.31 $19.16 $15.82 $13.67 $12.25 Tangible Book Value Per Share $25.31 $19.16 $15.82 $13.67 $12.25 Dividend Per Share $0.00 $0.00 $0.00 $0.00 $0.00 Period End Stock Price $73.47 $45.82 $19.76 $14.41 $14.12 Average Diluted Shares (millions) 14.4 13.8 12.5 10.9 9.4 Shares Outstanding (millions) 14.5 13.7 11.5 10.4 10.2

Performance Ratios: ROA (Core) 1.63% 1.54% 1.43% 1.22% 1.23% ROE (Core) 18.2% 17.5% 16.8% 14.4% 15.7% NIM 3.95% 3.79% 3.70% 3.67% 3.83% Efficiency Ratio 37.0% 40.4% 36.7% 37.2% 30.1% Fee Income/ Operating Revenue 15.4% 23.4% 19.5% 10.8% 2.5% Effective Tax Rate 40.6% 40.9% 40.5% 39.8% 41.1% Dividend Payout Ratio 0.0% 0.0% 0.0% 0.0% 0.0%

Balance Sheet Ratios: Loans/ Deposits 116.8% 108.6% 107.1% 99.4% 80.6% Loans/ Earning Assets 83.4% 75.6% 75.5% 69.5% 55.1% Tangible Equity/ Assets 8.4% 8.7% 8.7% 7.6% 9.1% Securities/ Assets 11.7% 16.1% 21.1% 27.7% 41.2%

Asset Quality Ratios: NPAs/ Assets 0.52% 0.77% 1.09% 1.42% 1.28% Reserve/ Loans 0.50% 0.60% 0.53% 0.55% 0.75% Reserve/ NPAs 80% 59% 37% 27% 32% NCOs/ Average Loans 0.04% 0.14% 0.36% 0.42% 0.69%

Annual Growth Rates: Gross Loans HFI 56.4% 31.3% 29.8% 70.7% 25.9% Deposits 45.4% 29.5% 20.5% 38.4% 49.3% EPS 33.2% 24.0% 24.6% -15.8% 188.3%

3-Year EPS CAGR 27.2% 5-Year EPS CAGR 37.9% Note: All data as calculated by SNL Financial Note: Data reflects calendar year (BOFI's fiscal year ends June 30) Source: SNL Financial

13 Cardinal Financial Corporation NASDAQ: CFNL - $22.82 SOP Analyst: Casey Orr Cardinal Financial Corporation Statistics: Market Cap: $735.0 million CEO: Bernard H. Clineburg Assets: $3,765 million CEO Age: 66 Employees: 808 Headquarters: McLean, VA Full-Service Offices: 31 Primary Markets: VA, DC, MD ------Key "Sm-All Stars" Stats------EPS Growth Loan Growth Deposit Growth ROAE Median 6.6% 9.2% 6.5% 7.9% CFNL 113.4% 16.9% 20.5% 12.2%

NPAs 1 / Loans and OREO NCOs / Avg. Loans TCE / TA Median 1.0% < 0.25% > 7.0% CFNL 0.0% 0.01% 9.7% Company Description Cardinal Financial Corporation, a financial holding company headquartered in Tysons Corner, VA with assets of $3.8 bil. at 6/30, serves the Washington Metropolitan region through its wholly-owned subsidiary, Cardinal Bank. Cardinal also operates several other subsidiaries: George Mason Mortgage, LLC, a residential mortgage lending company based in Fairfax, Virginia and Cardinal Wealth Services, Inc., a wealth management services company.

Stock Price History LTM P/E History 2

Source: SNL Financial Source: SNL Financial

52-Week Range $16 - $24 Annual Dividend $0.44 3-Mo Avg. Daily Vol. 152,035 Yield 1.9% Stated Book Value $12.32 Price/Book 185% Tangible Book Value $11.17 Price/Tangible Book 204%

EOP Loans (as of 6/30/2015) EOP Deposits (as of 6/30/2015)

CRE Brokered Construction 36% CDs Demand 17% 17% 21%

Interest Checking 15%

C&I, Govern. Residential Contracting, CDs Money Mortgage, & Owner- 24% Market & Home Equity, Occupied Statement & Consumer Real Estate Savings 19% 28% 23%

1 Accruing TDRs are excluded from NPAs 2 P/E multiples above 40x are excluded from chart

Source: Sandler O'Neill + Partners, L.P. and SNL Financial. 14 Cardinal Financial Corporation CFNL Quarterly Snapshot 0.13 2Q15 1Q15 4Q14 3Q14 2Q14 Per Share Data: Diluted EPS $0.40 $0.42 $0.32 $0.29 $0.26 Core EPS $0.35 $0.43 $0.31 $0.28 $0.31 Book Value Per Share $12.32 $12.11 $11.76 $11.49 $11.30 Tangible Book Value Per Share $11.17 $10.95 $10.60 $10.34 $10.13 Dividend Per Share $0.11 $0.11 $0.10 $0.08 $0.08 Period End Stock Price $21.79 $19.98 $19.83 $17.07 $18.46 Average Diluted Shares (millions) 33.2 33.1 33.0 32.9 32.9 Shares Outstanding (millions) 32.2 32.2 32.1 32.0 32.0

Performance Ratios: ROA (Core) 1.31% 1.66% 1.24% 1.13% 1.28% ROE (Core) 11.8% 14.4% 10.9% 9.9% 11.2% NIM 3.40% 3.45% 3.48% 3.66% 3.65% Efficiency Ratio 52.9% 51.9% 60.9% 60.9% 57.7% Fee Income/ Operating Revenue 30.4% 38.8% 26.5% 21.8% 30.3% Effective Tax Rate 34.2% 33.9% 30.6% 33.3% 34.0% Dividend Payout Ratio 27.5% 26.2% 31.3% 27.6% 30.8%

Balance Sheet Ratios: Loans/ Deposits 95.2% 99.3% 101.8% 102.7% 98.2% Loans/ Earning Assets 85.7% 84.6% 84.5% 83.8% 83.2% Tangible Equity/ Assets 9.7% 10.3% 10.1% 10.1% 10.0% Securities/ Assets 9.5% 9.9% 10.7% 10.9% 11.2%

Asset Quality Ratios: NPAs/ Assets NA NA NA NA NA Reserve/ Loans 0.93% 0.98% 0.98% 1.05% 1.07% Reserve/ NPAs NA NA NA NA NA NCOs/ Average Loans 0.01% -0.07% 0.10% 0.00% 0.02%

Annualized Growth Rates: Gross Loans HFI 26.0% 6.9% 14.8% 16.2% 7.9% Deposits 26.0% 6.9% 14.8% 16.2% 7.9% EPS -19.0% 125.0% 41.4% 46.2% 400.0%

Annual Snapshot 2014 2013 2012 2011 2010 Per Share Data: Diluted EPS $1.00 $0.82 $1.51 $0.94 $0.62 Core EPS $1.11 $0.83 $1.51 $0.94 $0.67 Book Value Per Share $11.76 $10.57 $10.19 $8.83 $7.75 Tangible Book Value Per Share $10.60 $10.23 $9.85 $8.47 $7.38 Dividend Per Share $0.34 $0.23 $0.20 $0.12 $0.08 Period End Stock Price $19.83 $17.99 $16.30 $10.74 $11.63 Average Diluted Shares (millions) 32.8 31.1 30.0 29.8 29.6 Shares Outstanding (millions) 32.1 30.3 30.2 29.2 28.8

Performance Ratios: ROA (Core) 1.13% 0.93% 1.70% 1.27% 1.00% ROE (Core) 9.8% 8.1% 16.0% 11.6% 9.2% NIM 3.59% 3.52% 3.61% 3.81% 3.68% Efficiency Ratio 60.9% 68.1% 50.1% 54.5% 56.9% Fee Income/ Operating Revenue 26.1% 24.4% 40.3% 28.7% 27.9% Effective Tax Rate 32.9% 32.3% 33.3% 33.5% 30.3% Dividend Payout Ratio 34.0% 28.0% 13.2% 12.8% 12.9%

Balance Sheet Ratios: Loans/ Deposits 101.8% 99.1% 80.4% 91.9% 100.4% Loans/ Earning Assets 84.5% 82.6% 84.4% 82.2% 77.1% Tangible Equity/ Assets 10.1% 10.8% 9.8% 9.5% 10.3% Securities/ Assets 10.7% 13.1% 9.9% 12.6% 17.5%

Asset Quality Ratios: NPAs/ Assets NA 0.16% 0.49% 1.27% 0.42% Reserve/ Loans 0.98% 1.15% 1.06% 1.21% 1.50% Reserve/ NPAs NA 609% 183% 79% 276% NCOs/ Average Loans 0.06% -0.02% 0.27% 0.29% 0.32%

Annual Growth Rates: Gross Loans HFI 26.5% 13.1% 10.5% 15.8% 9.0% Deposits 23.1% -8.2% 26.4% 26.5% 8.2% EPS 22.0% -45.7% 60.6% 51.6% 67.6%

3-Year EPS CAGR 2.1% 5-Year EPS CAGR 22.0% Note: All data as calculated by SNL Financial Source: SNL Financial

15 Cathay General Bancorp NASDAQ: CATY - $30.11 SOP Analyst: Aaron Deer Cathay General Bancorp Statistics: Market Cap: $2,470.8 million CEO: Dunson K. Cheng Assets: $11,918 million CEO Age: 70 Employees: 1,042 Headquarters: Los Angeles, CA Full-Service Offices: 54 Primary Markets: CA, NY, IL, WA, TX ------Key "Sm-All Stars" Stats------EPS Growth Loan Growth Deposit Growth ROAE Median 6.6% 9.2% 6.5% 7.9% CATY 18.0% 11.0% 8.8% 9.5%

NPAs 1 / Loans and OREO NCOs / Avg. Loans TCE / TA Median 1.0% < 0.25% > 7.0% CATY 0.9% 0.02% 11.6% Company Description Cathay General Bancorp is the holding company for Cathay Bank, a CA state-chartered bank. Founded in 1962, Cathay Bank offers a wide range of financial services. Cathay Bank currently operates 33 branches in CA, 9 branches in NY, 3 in the Chicago, IL area, 3 in WA, 2 in TX, 1 in MA, 1 in NV, 1 in NJ, 1 in Hong Kong, and a representative office in Shanghai and in Taipei.

Stock Price History LTM P/E History 2

Source: SNL Financial Source: SNL Financial

52-Week Range $23 - $35 Annual Dividend $0.56 3-Mo Avg. Daily Vol. 616,763 Yield 1.9% Stated Book Value $20.86 Price/Book 144% Tangible Book Value $16.88 Price/Tangible Book 178%

EOP Loans (as of 6/30/2015) EOP Deposits (as of 6/30/2015) Noninterest- Residential Bearing Commercial Mortgage Demand Real Estate 25% 18% 18% Construction 4% Time 49% NOW 9%

Equity Lines Commercial Money 2% Mortgage Savings Market 51% 6% 18%

1 Accruing TDRs are excluded from NPAs 2 P/E multiples above 40x are excluded from chart

Source: Sandler O'Neill + Partners, L.P. and SNL Financial. 16 Cathay General Bancorp CATY Quarterly Snapshot 0.39 2Q15 1Q15 4Q14 3Q14 2Q14 Per Share Data: Diluted EPS $0.56 $0.45 $0.44 $0.45 $0.44 Core EPS $0.59 $0.45 $0.44 $0.45 $0.44 Book Value Per Share $20.86 $20.45 $20.08 $19.70 $19.31 Tangible Book Value Per Share $16.88 $16.47 $16.10 $15.71 $15.33 Dividend Per Share $0.14 $0.10 $0.10 $0.07 $0.07 Period End Stock Price $32.45 $28.45 $25.59 $24.83 $25.56 Average Diluted Shares (millions) 80.7 80.3 80.2 80.2 80.0 Shares Outstanding (millions) 80.0 79.9 79.8 79.7 79.7

Performance Ratios: ROA (Core) 1.63% 1.29% 1.28% 1.28% 1.27% ROE (Core) 11.4% 8.9% 9.0% 9.2% 9.2% NIM 3.50% 3.37% 3.38% 3.34% 3.36% Efficiency Ratio 47.5% 45.0% 43.4% 45.5% 45.4% Fee Income/ Operating Revenue 8.6% 8.9% 8.4% 9.0% 9.0% Effective Tax Rate 17.7% 37.3% 37.1% 38.3% 37.2% Dividend Payout Ratio 25.0% 22.2% 22.7% 15.6% 15.9%

Balance Sheet Ratios: Loans/ Deposits 101.6% 101.1% 101.3% 101.7% 99.7% Loans/ Earning Assets 78.6% 76.4% 76.2% 75.2% 72.9% Tangible Equity/ Assets 11.6% 11.4% 11.5% 11.1% 10.9% Securities/ Assets 13.1% 10.3% 11.8% 11.9% 11.8%

Asset Quality Ratios: NPAs/ Assets 1.59% 1.78% 1.80% 1.87% 1.93% Reserve/ Loans 1.62% 1.69% 1.81% 1.91% 1.98% Reserve/ NPAs 81% 74% 78% 78% 76% NCOs/ Average Loans 0.02% 0.01% 0.26% -0.24% -0.17%

Annualized Growth Rates: Gross Loans HFI 12.1% 14.0% 2.5% 13.7% 12.7% Deposits 12.1% 14.0% 2.5% 13.7% 12.7% EPS 97.8% 9.1% -8.9% 9.1% 51.3%

Annual Snapshot 2014 2013 2012 2011 2010 Per Share Data: Diluted EPS $1.72 $1.43 $1.28 $1.06 ($0.06) Core EPS $1.67 $1.24 $1.22 $0.93 ($0.17) Book Value Per Share $20.08 $18.33 $17.35 $15.97 $15.03 Tangible Book Value Per Share $16.10 $14.35 $13.27 $11.81 $10.79 Dividend Per Share $0.29 $0.08 $0.04 $0.04 $0.04 Period End Stock Price $25.59 $26.73 $19.53 $14.93 $16.70 Average Diluted Shares (millions) 80.1 79.1 78.7 78.6 77.1 Shares Outstanding (millions) 79.8 79.6 78.8 78.7 78.5

Performance Ratios: ROA (Core) 1.22% 1.03% 1.07% 0.85% 0.03% ROE (Core) 8.7% 7.0% 7.2% 6.1% 0.2% NIM 3.35% 3.33% 3.28% 3.21% 2.77% Efficiency Ratio 46.4% 52.9% 47.2% 48.9% 49.3% Fee Income/ Operating Revenue 9.0% 9.2% 8.1% 8.7% 4.4% Effective Tax Rate 37.3% 36.3% 35.9% 33.7% NM Dividend Payout Ratio 16.9% 5.6% 3.1% 3.8% NM

Balance Sheet Ratios: Loans/ Deposits 101.3% 101.1% 100.5% 97.5% 98.1% Loans/ Earning Assets 76.2% 72.3% 68.2% 65.0% 62.1% Tangible Equity/ Assets 11.5% 10.7% 12.6% 11.5% 10.5% Securities/ Assets 11.8% 14.7% 19.8% 23.6% 27.0%

Asset Quality Ratios: NPAs/ Assets 1.80% 2.31% 2.76% 3.90% 4.26% Reserve/ Loans 1.81% 2.15% 2.47% 2.93% 3.57% Reserve/ NPAs 78% 69% 62% 50% 53% NCOs/ Average Loans 0.02% 0.08% 0.21% 0.95% 1.83%

Annual Growth Rates: Gross Loans HFI 10.3% 8.8% 5.2% 2.8% -0.4% Deposits 10.1% 8.1% 2.1% 3.4% -6.8% EPS 20.3% 11.7% 20.8% NM NM

3-Year EPS CAGR 17.5% 5-Year EPS CAGR NM Note: All data as calculated by SNL Financial Source: SNL Financial

17 CB Financial Services, Inc. NASDAQ: CBFV - $21.31 CB Financial Services, Inc. Statistics: Market Cap: $86.8 million CEO: Barron P. McCune Jr. Assets: $837 million CEO Age: 61 Employees: 193 Headquarters: Carmichaels, PA Full-Service Offices: 16 Primary Markets: PA ------Key "Sm-All Stars" Stats------EPS Growth Loan Growth Deposit Growth ROAE Median 6.6% 9.2% 6.5% 7.9% CBFV 12.2% 71.2% 46.5% 10.2%

NPAs 1 / Loans and OREO NCOs / Avg. Loans TCE / TA Median 1.0% < 0.25% > 7.0% CBFV 0.5% 0.06% 9.0% Company Description CB Financial Services, Inc. is the bank holding company for Community Bank, a PA-chartered commercial bank. Community Bank operates 16 offices in Greene, Allegheny, Washington, Fayette, and Westmoreland Counties in southwestern PA. Community Bank offers a broad array of retail and commercial lending and deposit services and provides commercial and personal insurance brokerage services through Exchange Underwriters, Inc., its wholly owned subsidiary.

Stock Price History LTM P/E History 2

Source: SNL Financial Source: SNL Financial

52-Week Range $19 - $25 Annual Dividend $0.84 3-Mo Avg. Daily Vol. 4,068 Yield 3.9% Stated Book Value $20.80 Price/Book 102% Tangible Book Value $18.28 Price/Tangible Book 117%

EOP Loans (as of 6/30/2015) EOP Deposits (as of 6/30/2015)

Residential Real Estate 42% Demand Time Brokered 22% 22% 2% Other 1% CRE 29% NOW 14% Savings Consumer Accounts 18% 14% C&I Real Estate Money 12% Construction Market 2% 22%

1 Accruing TDRs are excluded from NPAs 2 P/E multiples above 40x are excluded from chart

Source: Sandler O'Neill + Partners, L.P. and SNL Financial. 18 CB Financial Services, Inc. CBFV Quarterly Snapshot 0.46 2Q15 1Q15 4Q14 3Q14 2Q14 Per Share Data: Diluted EPS $0.55 $0.56 $0.50 $0.32 $0.31 Core EPS $0.57 $0.58 $0.69 $0.41 $0.49 Book Value Per Share $20.80 $20.55 $20.12 $19.00 $18.91 Tangible Book Value Per Share $18.28 $18.00 $17.53 $18.09 $17.99 Dividend Per Share $0.21 $0.21 $0.21 $0.21 $0.21 Period End Stock Price $19.90 $19.76 $19.90 $20.00 $19.75 Average Diluted Shares (millions) 4.1 4.1 2.3 2.3 2.4 Shares Outstanding (millions) 4.1 4.1 4.1 2.3 2.3

Performance Ratios: ROA (Core) 1.10% 1.12% 1.36% 0.70% 0.86% ROE (Core) 11.0% 11.5% 15.1% 8.5% 10.5% NIM 3.77% 3.84% 3.92% 3.35% 3.39% Efficiency Ratio 58.3% 59.1% 62.1% 66.5% 66.0% Fee Income/ Operating Revenue 19.9% 19.7% 18.4% 16.4% 15.6% Effective Tax Rate 29.2% 29.1% 33.5% 26.6% 18.7% Dividend Payout Ratio 38.2% 37.5% 42.0% 65.6% 67.7%

Balance Sheet Ratios: Loans/ Deposits 95.4% 93.7% 98.3% 81.7% 81.6% Loans/ Earning Assets 78.7% 80.7% 80.5% 71.4% 71.2% Tangible Equity/ Assets 9.0% 8.7% 8.5% 7.7% 7.9% Securities/ Assets NA NA 12.9% 19.3% 21.1%

Asset Quality Ratios: NPAs/ Assets 0.90% 0.87% 0.82% 0.83% 0.84% Reserve/ Loans 0.86% 0.79% 0.76% 1.33% 1.38% Reserve/ NPAs 76% 74% 75% 116% 118% NCOs/ Average Loans 0.10% 0.01% 0.10% 0.00% 0.03%

Annualized Growth Rates: Gross Loans HFI -1.1% -12.0% 284.1% 14.0% 2.1% Deposits -1.1% -12.0% 284.1% 14.0% 2.1% EPS -7.1% 48.0% 225.0% 12.9% -130.4%

Annual Snapshot 2014 2013 2012 2011 2010 Per Share Data: Diluted EPS $1.63 $1.72 $1.70 $1.78 $1.69 Core EPS $2.13 $1.73 $1.71 $1.79 $1.69 Book Value Per Share $20.12 $18.24 $18.19 $17.41 $16.10 Tangible Book Value Per Share $17.53 $17.36 $17.29 $16.47 $15.12 Dividend Per Share $0.84 $0.84 $0.84 $0.83 $0.81 Period End Stock Price $19.90 $19.75 $19.00 $21.00 $19.00 Average Diluted Shares (millions) 2.6 2.5 2.5 2.5 2.5 Shares Outstanding (millions) 4.1 2.5 2.4 2.4 2.4

Performance Ratios: ROA (Core) 0.94% 0.80% 0.79% 0.89% 0.88% ROE (Core) 11.2% 9.5% 9.7% 10.9% 10.9% NIM 3.47% 3.23% 3.27% 3.61% 3.54% Efficiency Ratio 65.4% 67.4% 64.8% 62.3% 64.7% Fee Income/ Operating Revenue 16.6% 17.0% 18.5% 17.0% 17.2% Effective Tax Rate 27.3% 21.4% 19.7% 16.9% 16.8% Dividend Payout Ratio 51.5% 48.8% 49.4% 46.6% 47.9%

Balance Sheet Ratios: Loans/ Deposits 98.3% 78.9% 74.0% 75.6% 77.3% Loans/ Earning Assets 80.5% 68.7% 63.0% 63.1% 62.6% Tangible Equity/ Assets 8.5% 7.9% 7.8% 7.5% 7.3% Securities/ Assets 12.9% 25.0% 29.0% 25.7% 27.2%

Asset Quality Ratios: NPAs/ Assets 0.82% 0.78% 1.23% 1.14% 0.53% Reserve/ Loans 0.76% 1.42% 1.70% 1.73% 1.67% Reserve/ NPAs 75% 127% 88% 97% 199% NCOs/ Average Loans 0.04% 0.17% 0.12% 0.11% 0.19%

Annual Growth Rates: Gross Loans HFI 80.8% 8.9% 2.3% 8.2% 7.5% Deposits 45.2% 2.2% 4.4% 10.7% 5.2% EPS -5.2% 1.2% -4.5% 5.3% 19.0%

3-Year EPS CAGR -2.9% 5-Year EPS CAGR 2.8% Note: All data as calculated by SNL Financial Source: SNL Financial

19 Eagle Bancorp, Inc. NASDAQ: EGBN - $42.96 SOP Analyst: Casey Orr Eagle Bancorp, Inc. Statistics: Market Cap: $1,435.0 million CEO: Ronald D. Paul Assets: $5,754 million CEO Age: 59 Employees: 447 Headquarters: Bethesda, MD Full-Service Offices: 22 Primary Markets: VA, MD, DC ------Key "Sm-All Stars" Stats------EPS Growth Loan Growth Deposit Growth ROAE Median 6.6% 9.2% 6.5% 7.9% EGBN 21.2% 38.8% 43.3% 11.5%

NPAs 1 / Loans and OREO NCOs / Avg. Loans TCE / TA Median 1.0% < 0.25% > 7.0% EGBN 0.5% 0.18% 10.3% Company Description The Company is the holding company for EagleBank, which commenced operations in 1998. The Bank is headquartered in Bethesda, MD, and operates through 22 branch offices, located in Montgomery County, MD, Washington, D.C. and Northern VA. The Company focuses on building relationships with businesses, professionals and individuals in its marketplace.

Stock Price History LTM P/E History 2

Source: SNL Financial Source: SNL Financial

52-Week Range $31 - $47 Annual Dividend $0.00 3-Mo Avg. Daily Vol. 113,766 Yield 0.0% Stated Book Value $20.76 Price/Book 207% Tangible Book Value $17.47 Price/Tangible Book 246%

EOP Loans (as of 6/30/2015) EOP Deposits (as of 6/30/2015) Income- Home Equity Wholesale Wholesale Producing Money 3% CRE CDs C&I Market 5% Noninterest- 21% 41% 7% Bearing 28% Core CDs 11%

Core Owner- Commercial Residential Savings & Interest- Occupied & Residential Real Estate Money Bearing CRE Construction Mortgage Market Transaction 11% 20% 3% 44% 5%

1 Accruing TDRs are excluded from NPAs 2 P/E multiples above 40x are excluded from chart

Source: Sandler O'Neill + Partners, L.P. and SNL Financial. 20 Eagle Bancorp, Inc. EGBN Quarterly Snapshot 0.47 2Q15 1Q15 4Q14 3Q14 2Q14 Per Share Data: Diluted EPS $0.61 $0.61 $0.49 $0.52 $0.48 Core EPS $0.61 $0.57 $0.57 $0.54 $0.50 Book Value Per Share $20.76 $20.11 $18.21 $14.83 $14.25 Tangible Book Value Per Share $17.47 $16.82 $14.57 $14.72 $14.13 Dividend Per Share $0.00 $0.00 $0.00 $0.00 $0.00 Period End Stock Price $43.96 $38.40 $35.52 $31.82 $33.75 Average Diluted Shares (millions) 34.0 31.8 29.6 26.7 26.6 Shares Outstanding (millions) 33.4 33.3 30.1 26.0 26.0

Performance Ratios: ROA (Core) 1.51% 1.38% 1.40% 1.45% 1.39% ROE (Core) 11.1% 11.0% 12.1% 13.5% 12.7% NIM 4.35% 4.38% 4.50% 4.56% 4.59% Efficiency Ratio 41.4% 45.6% 44.9% 48.2% 45.7% Fee Income/ Operating Revenue 9.8% 9.3% 9.3% 9.6% 8.3% Effective Tax Rate 37.9% 37.7% 38.8% 36.4% 37.0% Dividend Payout Ratio 0.0% 0.0% 0.0% 0.0% 0.0%

Balance Sheet Ratios: Loans/ Deposits 94.3% 97.0% 100.0% 97.1% 97.4% Loans/ Earning Assets 80.7% 81.2% 82.3% 82.4% 83.8% Tangible Equity/ Assets 11.6% 11.7% 9.9% 10.6% 10.8% Securities/ Assets 7.7% 6.4% 7.7% 9.4% 10.0%

Asset Quality Ratios: NPAs/ Assets 0.68% 0.82% 0.94% 1.10% 1.00% Reserve/ Loans 1.04% 1.06% 1.06% 1.29% 1.31% Reserve/ NPAs 125% 105% 94% 98% 111% NCOs/ Average Loans 0.20% 0.15% 0.26% 0.08% 0.20%

Annualized Growth Rates: Gross Loans HFI 9.5% 12.3% 102.5% 18.7% 28.1% Deposits 9.5% 12.3% 102.5% 18.7% 28.1% EPS 0.0% 98.0% -23.1% 33.3% 8.5%

Annual Snapshot 2014 2013 2012 2011 2010 Per Share Data: Diluted EPS $1.95 $1.76 $1.46 $1.04 $0.70 Core EPS $2.07 $1.77 $1.47 $1.07 $0.67 Book Value Per Share $18.21 $13.03 $11.62 $9.57 $8.40 Tangible Book Value Per Share $14.57 $12.90 $11.47 $9.39 $8.22 Dividend Per Share $0.00 $0.00 $0.00 $0.00 $0.00 Period End Stock Price $35.52 $30.63 $18.15 $13.22 $13.12 Average Diluted Shares (millions) 27.6 26.4 23.7 22.3 22.0 Shares Outstanding (millions) 30.1 25.9 25.3 21.9 21.7

Performance Ratios: ROA (Core) 1.39% 1.37% 1.18% 0.98% 0.82% ROE (Core) 12.6% 12.6% 11.7% 10.6% 8.0% NIM 4.51% 4.36% 4.38% 4.05% 4.09% Efficiency Ratio 47.5% 49.1% 50.6% 54.6% 59.0% Fee Income/ Operating Revenue 9.3% 14.6% 14.3% 10.9% 9.3% Effective Tax Rate 37.1% 37.6% 37.2% 35.9% 35.3% Dividend Payout Ratio 0.0% 0.0% 0.0% 0.0% 0.0%

Balance Sheet Ratios: Loans/ Deposits 100.0% 91.3% 86.1% 86.0% 97.0% Loans/ Earning Assets 82.3% 78.4% 78.9% 78.1% 83.1% Tangible Equity/ Assets 9.9% 10.4% 10.2% 9.3% 9.6% Securities/ Assets 7.7% 10.3% 9.1% 11.4% 11.4%

Asset Quality Ratios: NPAs/ Assets 0.94% 1.11% 1.50% 1.76% 1.68% Reserve/ Loans 1.06% 1.37% 1.38% 1.33% 1.41% Reserve/ NPAs 94% 98% 73% 59% 70% NCOs/ Average Loans 0.17% 0.23% 0.34% 0.31% 0.34%

Annual Growth Rates: Gross Loans HFI 46.4% 18.1% 21.2% 22.7% 19.7% Deposits 33.7% 11.3% 21.1% 38.5% 18.3% EPS 10.8% 20.2% 41.2% 48.1% 40.0%

3-Year EPS CAGR 23.5% 5-Year EPS CAGR 31.3% Note: All data as calculated by SNL Financial Source: SNL Financial

21 Enterprise Financial Services Corp NASDAQ: EFSC - $24.32 SOP Analyst: Andrew Liesch, CFA Enterprise Financial Services Corp Statistics: Market Cap: $485.4 million CEO: Peter F. Benoist Assets: $3,371 million CEO Age: 67 Employees: 456 Headquarters: Clayton, MO Full-Service Offices: 15 Primary Markets: MO, KS, AZ ------Key "Sm-All Stars" Stats------EPS Growth Loan Growth Deposit Growth ROAE Median 6.6% 9.2% 6.5% 7.9% EFSC 25.0% 11.0% 9.2% 10.1%

NPAs 1 / Loans and OREO NCOs / Avg. Loans TCE / TA Median 1.0% < 0.25% > 7.0% EFSC 0.7% 0.10% 8.9% Company Description Enterprise Financial Services Corp operates commercial banking and wealth management businesses in metropolitan St. Louis, Kansas City, and Phoenix. The Company is primarily focused on serving the needs of privately held businesses, their owner families, executives and professionals.

Stock Price History LTM P/E History 2

Source: SNL Financial Source: SNL Financial

52-Week Range $16 - $25 Annual Dividend $0.28 3-Mo Avg. Daily Vol. 55,188 Yield 1.2% Stated Book Value $16.67 Price/Book 146% Tangible Book Value $14.96 Price/Tangible Book 163%

EOP Loans (as of 6/30/2015) EOP Deposits (as of 6/30/2015)

C&I 53% Other CDs Demand CDs > Consumer & 4% 25% Other $100k 3% 15%

Savings 3%

CRE: Residential Investor- Interest- Real Estate Owned Bearing Construction CRE: Owner- Money 7% & Land 16% Transaction Occupied Market 19% Develop. 15% 34% 6%

1 Accruing TDRs are excluded from NPAs 2 P/E multiples above 40x are excluded from chart

Source: Sandler O'Neill + Partners, L.P. and SNL Financial. 22 Enterprise Financial Services Corp EFSC Quarterly Snapshot 0.30 2Q15 1Q15 4Q14 3Q14 2Q14 Per Share Data: Diluted EPS $0.43 $0.46 $0.30 $0.41 $0.36 Core EPS $0.44 $0.47 $0.34 $0.42 $0.37 Book Value Per Share $16.67 $16.36 $15.94 $15.61 $15.26 Tangible Book Value Per Share $14.96 $14.64 $14.20 $13.85 $13.48 Dividend Per Share $0.06 $0.05 $0.05 $0.05 $0.05 Period End Stock Price $22.77 $20.66 $19.73 $16.72 $18.06 Average Diluted Shares (millions) 20.2 20.2 20.1 20.0 20.0 Shares Outstanding (millions) 19.9 19.9 19.8 19.8 19.8

Performance Ratios: ROA (Core) 1.08% 1.16% 0.84% 1.06% 0.94% ROE (Core) 10.8% 11.8% 8.6% 11.0% 9.9% NIM 3.84% 3.87% 4.16% 3.78% 4.02% Efficiency Ratio 54.0% 59.5% 65.1% 64.3% 61.2% Fee Income/ Operating Revenue 16.5% 10.9% 13.6% 13.6% 8.6% Effective Tax Rate 35.3% 35.0% 32.0% 34.9% 33.9% Dividend Payout Ratio 14.0% 11.4% 17.5% 12.8% 14.6%

Balance Sheet Ratios: Loans/ Deposits 97.7% 94.6% 101.7% 96.0% 96.1% Loans/ Earning Assets 77.2% 76.5% 76.4% 74.2% 73.7% Tangible Equity/ Assets 8.9% 9.0% 8.7% 8.6% 8.5% Securities/ Assets 13.8% 14.3% 14.1% 14.7% 14.6%

Asset Quality Ratios: NPAs/ Assets 0.58% 0.52% 0.74% 0.63% 0.85% Reserve/ Loans 1.65% 1.65% 1.80% 1.84% 1.94% Reserve/ NPAs 223% 244% 189% 220% 171% NCOs/ Average Loans 0.11% 0.24% 0.10% -0.05% 0.15%

Annualized Growth Rates: Gross Loans HFI 15.8% -0.4% 20.6% 6.6% 11.6% Deposits 15.8% -0.4% 20.6% 6.6% 11.6% EPS -26.1% 213.3% -107.3% 55.6% 80.0%

Annual Snapshot 2014 2013 2012 2011 2010 Per Share Data: Diluted EPS $1.35 $1.73 $1.37 $1.34 $0.21 Core EPS $1.42 $1.87 $1.47 $1.32 $0.14 Book Value Per Share $15.94 $14.47 $13.09 $11.61 $9.89 Tangible Book Value Per Share $14.20 $12.62 $10.99 $9.38 $9.67 Dividend Per Share $0.21 $0.21 $0.21 $0.21 $0.21 Period End Stock Price $19.73 $20.42 $13.07 $14.80 $10.46 Average Diluted Shares (millions) 20.1 19.8 19.3 18.1 14.7 Shares Outstanding (millions) 19.8 19.3 18.0 17.8 14.9

Performance Ratios: ROA (Core) 0.91% 1.15% 0.90% 0.81% 0.19% ROE (Core) 9.5% 13.9% 11.5% 11.8% 2.5% NIM 4.07% 4.78% 4.94% 3.92% 3.76% Efficiency Ratio 62.4% 56.9% 54.2% 57.6% 60.1% Fee Income/ Operating Revenue 11.4% 3.0% 3.9% 12.6% 16.2% Effective Tax Rate 33.8% 33.9% 33.9% 33.5% 22.6% Dividend Payout Ratio 15.6% 12.1% 15.3% 15.7% 100.0%

Balance Sheet Ratios: Loans/ Deposits 101.7% 89.9% 86.8% 78.7% 82.2% Loans/ Earning Assets 76.4% 71.0% 68.8% 64.5% 66.6% Tangible Equity/ Assets 8.7% 7.8% 6.0% 6.0% 6.3% Securities/ Assets 14.1% 14.1% 19.7% 18.0% 13.4%

Asset Quality Ratios: NPAs/ Assets 0.74% 0.90% 1.44% 1.72% 2.59% Reserve/ Loans 1.80% 1.87% 1.98% 1.80% 2.26% Reserve/ NPAs 189% 150% 95% 68% 59% NCOs/ Average Loans 0.07% 0.30% 0.64% 0.99% 1.91%

Annual Growth Rates: Gross Loans HFI 11.2% -1.3% 5.0% 16.4% 3.0% Deposits -1.7% -4.7% -4.7% 21.5% 18.4% EPS -22.0% 26.3% 2.2% 538.1% NM

3-Year EPS CAGR 0.2% 5-Year EPS CAGR NM Note: All data as calculated by SNL Financial Source: SNL Financial

23 First of Long Island Corporation NASDAQ: FLIC - $26.57 SOP Analyst: Alexander Twerdahl First of Long Island Corporation Statistics: Market Cap: $372.8 million CEO: Michael N. Vittorio Assets: $2,829 million CEO Age: 62 Employees: 290 Headquarters: Glen Head, NY Full-Service Offices: 41 Primary Markets: NY ------Key "Sm-All Stars" Stats------EPS Growth Loan Growth Deposit Growth ROAE Median 6.6% 9.2% 6.5% 7.9% FLIC 8.9% 25.7% 15.7% 10.4%

NPAs 1 / Loans and OREO NCOs / Avg. Loans TCE / TA Median 1.0% < 0.25% > 7.0% FLIC 0.2% 0.02% 8.4% Company Description The First of Long Island Corporation is a one-bank holding company organized under the laws of the State of NY. Its primary business is the operation of its sole subsidiary, The First National Bank of Long Island. The Bank was organized in 1927 under national banking laws and became the sole subsidiary of the Corporation under a plan of reorganization effected April 30, 1984. The Bank is a full service commercial bank which provides a broad range of financial services to individual, professional, corporate, institutional and government customers through its branch system on Long Island and in Manhattan.

Stock Price History LTM P/E History 2

Source: SNL Financial Source: SNL Financial

52-Week Range $22 - $29 Annual Dividend $0.80 3-Mo Avg. Daily Vol. 22,047 Yield 3.0% Stated Book Value $17.08 Price/Book 156% Tangible Book Value $17.07 Price/Tangible Book 156%

EOP Loans (as of 6/30/2015) EOP Deposits (as of 6/30/2015) Multi-Family 28% Other Commercial Time > Other Time Mortgages $100k 6% C&I 12% 9% Checking 4% 32%

Owner- Occupied CRE 6%

Revolving Savings, Home Equity NOW, & Closed-End Money 4% Residential Market 46% 53%

1 Accruing TDRs are excluded from NPAs 2 P/E multiples above 40x are excluded from chart

Source: Sandler O'Neill + Partners, L.P. and SNL Financial. 24 First of Long Island Corporation FLIC Quarterly Snapshot 0.43 2Q15 1Q15 4Q14 3Q14 2Q14 Per Share Data: Diluted EPS $0.44 $0.46 $0.39 $0.43 $0.40 Core EPS $0.44 $0.46 $0.39 $0.43 $0.40 Book Value Per Share $17.08 $17.19 $16.80 $16.67 $16.38 Tangible Book Value Per Share $17.07 $17.17 $16.78 $16.65 $16.37 Dividend Per Share $0.19 $0.19 $0.19 $0.19 $0.17 Period End Stock Price $27.72 $25.50 $28.37 $22.97 $26.05 Average Diluted Shares (millions) 14.1 14.1 14.0 14.0 13.9 Shares Outstanding (millions) 14.0 14.0 13.9 13.8 13.8

Performance Ratios: ROA (Core) 0.89% 0.94% 0.83% 0.95% 0.89% ROE (Core) 10.4% 11.0% 9.3% 10.6% 9.9% NIM 2.94% 2.92% 2.97% 3.08% 3.03% Efficiency Ratio 49.4% 51.8% 56.0% 48.3% 50.9% Fee Income/ Operating Revenue 9.5% 9.9% 9.1% 10.4% 9.7% Effective Tax Rate 27.0% 21.0% 13.7% 23.4% 21.6% Dividend Payout Ratio 43.2% 41.3% 48.7% 43.4% 43.3%

Balance Sheet Ratios: Loans/ Deposits 89.3% 88.3% 90.9% 84.8% 82.2% Loans/ Earning Assets 69.1% 66.9% 65.8% 64.0% 61.7% Tangible Equity/ Assets 8.4% 8.6% 8.6% 9.0% 8.9% Securities/ Assets 26.3% 28.7% 30.1% 32.3% 33.9%

Asset Quality Ratios: NPAs/ Assets 0.24% 0.08% 0.09% 0.12% 0.08% Reserve/ Loans 1.24% 1.25% 1.29% 1.34% 1.35% Reserve/ NPAs 361% NM 964% 730% 990% NCOs/ Average Loans 0.01% 0.01% 0.01% 0.04% 0.10%

Annualized Growth Rates: Gross Loans HFI 19.0% 17.4% 35.2% 23.0% 21.5% Deposits 19.0% 17.4% 35.2% 23.0% 21.5% EPS -17.4% 71.8% -37.2% 30.0% -25.0%

Annual Snapshot 2014 2013 2012 2011 2010 Per Share Data: Diluted EPS $1.65 $1.55 $1.51 $1.46 $1.53 Core EPS $1.64 $1.55 $1.52 $1.45 $1.44 Book Value Per Share $16.80 $15.06 $15.21 $14.35 $12.00 Tangible Book Value Per Share $16.78 $15.05 $15.19 $14.34 $11.98 Dividend Per Share $0.72 $0.68 $0.64 $0.60 $0.56 Period End Stock Price $28.37 $28.58 $18.88 $17.55 $19.17 Average Diluted Shares (millions) 14.0 13.8 13.5 13.3 12.0 Shares Outstanding (millions) 13.9 13.7 13.5 13.2 13.1

Performance Ratios: ROA (Core) 0.91% 0.95% 1.00% 1.05% 1.04% ROE (Core) 10.2% 10.5% 10.3% 11.1% 12.2% NIM 3.03% 3.18% 3.34% 3.63% 3.81% Efficiency Ratio 51.8% 51.9% 51.1% 51.6% 53.5% Fee Income/ Operating Revenue 9.8% 10.1% 9.9% 9.7% 10.0% Effective Tax Rate 20.9% 21.2% 19.7% 20.3% 22.6% Dividend Payout Ratio 43.8% 44.0% 42.3% 41.1% 36.5%

Balance Sheet Ratios: Loans/ Deposits 90.9% 82.9% 70.3% 65.6% 69.8% Loans/ Earning Assets 65.8% 61.1% 53.9% 48.4% 52.4% Tangible Equity/ Assets 8.6% 8.6% 9.7% 9.4% 9.1% Securities/ Assets 30.1% 34.9% 41.5% 47.9% 43.7%

Asset Quality Ratios: NPAs/ Assets 0.09% 0.21% 0.29% 0.34% 0.37% Reserve/ Loans 1.29% 1.41% 1.62% 1.68% 1.55% Reserve/ NPAs 964% 414% 308% 238% 220% NCOs/ Average Loans 0.05% 0.06% 0.15% 0.16% 0.04%

Annual Growth Rates: Gross Loans HFI 22.1% 28.8% 16.4% 9.2% 9.1% Deposits 11.4% 9.1% 8.7% 16.2% 1.2% EPS 6.7% 2.2% 3.7% -4.8% 25.0%

3-Year EPS CAGR 4.2% 5-Year EPS CAGR 6.1% Note: All data as calculated by SNL Financial Source: SNL Financial

25 Flushing Financial Corporation NASDAQ: FFIC - $19.84 SOP Analyst: Mark Fitzgibbon, CFA Flushing Financial Corporation Statistics: Market Cap: $573.9 million CEO: John R. Buran Assets: $5,360 million CEO Age: 65 Employees: 436 Headquarters: Uniondale, NY Full-Service Offices: 18 Primary Markets: NY ------Key "Sm-All Stars" Stats------EPS Growth Loan Growth Deposit Growth ROAE Median 6.6% 9.2% 6.5% 7.9% FFIC 8.3% 14.1% 14.2% 10.0%

NPAs 1 / Loans and OREO NCOs / Avg. Loans TCE / TA Median 1.0% < 0.25% > 7.0% FFIC 0.8% 0.03% 8.3% Company Description Flushing Financial Corporation is the holding company for Flushing Bank, a NY State-chartered commercial bank insured by the FDIC. The Bank serves consumers, businesses, and public entities by offering a full complement of deposit, loan, and cash management services through its 18 banking offices located in Queens, Brooklyn, Manhattan, and Nassau County. The Bank also operates an online banking division, iGObanking.com®, which offers competitively priced deposit products to consumers nationwide.

Stock Price History LTM P/E History 2

Source: SNL Financial Source: SNL Financial

52-Week Range $18 - $22 Annual Dividend $0.64 3-Mo Avg. Daily Vol. 88,026 Yield 3.2% Stated Book Value $15.98 Price/Book 124% Tangible Book Value $15.42 Price/Tangible Book 129%

EOP Loans (as of 6/30/2015) EOP Deposits (as of 6/30/2015) Multi-Family Residential Noninterest- 50% Bearing 7% NOW CDs Commercial 37% 38% Business & CRE Other 18% 12%

Taxi Medallion 1-4 Family - Money 1% 1-4 Family - Mixed-Use Market Residential Property 11% Savings 5% 14% 7%

1 Accruing TDRs are excluded from NPAs 2 P/E multiples above 40x are excluded from chart

Source: Sandler O'Neill + Partners, L.P. and SNL Financial. 26 Flushing Financial Corporation FFIC Quarterly Snapshot 0.34 2Q15 1Q15 4Q14 3Q14 2Q14 Per Share Data: Diluted EPS $0.51 $0.30 $0.38 $0.38 $0.39 Core EPS $0.36 $0.30 $0.43 $0.26 $0.39 Book Value Per Share $15.98 $15.84 $15.52 $15.26 $15.26 Tangible Book Value Per Share $15.42 $15.29 $14.97 $14.72 $14.72 Dividend Per Share $0.16 $0.16 $0.15 $0.15 $0.15 Period End Stock Price $21.01 $20.07 $20.27 $18.27 $20.55 Average Diluted Shares (millions) 29.3 29.4 29.4 29.8 30.1 Shares Outstanding (millions) 28.9 29.4 29.4 29.6 30.2

Performance Ratios: ROA (Core) 0.79% 0.68% 1.02% 0.64% 0.97% ROE (Core) 9.1% 7.6% 11.1% 6.9% 10.3% NIM 3.03% 3.09% 3.19% 2.77% 3.22% Efficiency Ratio 58.2% 64.4% 54.7% 62.2% 52.4% Fee Income/ Operating Revenue 8.1% 4.9% 4.5% 5.6% 5.1% Effective Tax Rate 39.1% 38.8% 38.7% 38.7% 39.4% Dividend Payout Ratio 31.4% 53.3% 39.5% 39.5% 38.5%

Balance Sheet Ratios: Loans/ Deposits 109.0% 110.9% 108.6% 108.4% 109.1% Loans/ Earning Assets 74.9% 75.5% 74.7% 74.1% 72.3% Tangible Equity/ Assets 8.3% 8.6% 8.7% 8.9% 9.2% Securities/ Assets 20.4% 20.1% 20.1% 21.1% 22.9%

Asset Quality Ratios: NPAs/ Assets 1.03% 1.12% 1.27% 1.39% 1.54% Reserve/ Loans 0.57% 0.60% 0.66% 0.78% 0.83% Reserve/ NPAs 55% 54% 52% 56% 54% NCOs/ Average Loans 0.05% 0.03% 0.01% 0.03% -0.01%

Annualized Growth Rates: Gross Loans HFI 3.5% 19.9% 18.4% 13.1% 3.9% Deposits 10.2% 11.1% 17.2% 15.4% -13.3% EPS 280.0% -84.2% 0.0% -10.3% 58.8%

Annual Snapshot 2014 2013 2012 2011 2010 Per Share Data: Diluted EPS $1.48 $1.26 $1.13 $1.15 $1.28 Core EPS $1.42 $1.24 $1.16 $1.19 $1.33 Book Value Per Share $15.52 $14.36 $14.39 $13.49 $12.48 Tangible Book Value Per Share $14.97 $13.82 $13.85 $12.94 $11.92 Dividend Per Share $0.60 $0.52 $0.52 $0.52 $0.52 Period End Stock Price $20.27 $20.70 $15.34 $12.63 $14.00 Average Diluted Shares (millions) 29.8 30.1 30.4 30.7 30.4 Shares Outstanding (millions) 29.4 30.1 30.7 30.9 31.3

Performance Ratios: ROA (Core) 0.88% 0.81% 0.80% 0.85% 0.95% ROE (Core) 9.4% 8.6% 8.2% 9.1% 10.7% NIM 3.11% 3.37% 3.65% 3.61% 3.43% Efficiency Ratio 56.4% 50.7% 49.2% 46.9% 46.4% Fee Income/ Operating Revenue 4.9% 5.2% 6.1% 7.4% 6.9% Effective Tax Rate 39.2% 37.8% 38.9% 39.9% 29.1% Dividend Payout Ratio 40.5% 41.3% 46.0% 45.2% 40.6%

Balance Sheet Ratios: Loans/ Deposits 108.6% 106.2% 107.3% 102.6% 102.7% Loans/ Earning Assets 74.7% 72.3% 72.3% 74.8% 75.3% Tangible Equity/ Assets 8.7% 8.8% 9.6% 9.4% 8.6% Securities/ Assets 20.1% 22.6% 22.3% 19.7% 19.3%

Asset Quality Ratios: NPAs/ Assets 0.96% 1.40% 2.55% 3.20% 2.99% Reserve/ Loans 0.66% 0.93% 0.96% 0.94% 0.85% Reserve/ NPAs 52% 48% 27% 22% 21% NCOs/ Average Loans 0.02% 0.41% 0.64% 0.59% 0.42%

Annual Growth Rates: Gross Loans HFI 11.0% 6.2% 0.2% -1.4% 1.7% Deposits 8.5% 7.2% -4.2% -1.4% 18.5% EPS 17.5% 11.5% -1.7% -10.2% 40.7%

3-Year EPS CAGR 8.8% 5-Year EPS CAGR 10.2% Note: All data as calculated by SNL Financial Source: SNL Financial

27 FS Bancorp, Inc. NASDAQ: FSBW - $23.60 FS Bancorp, Inc. Statistics: Market Cap: $76.5 million CEO: Joseph C. Adams Assets: $569 million CEO Age: 55 Employees: 217 Headquarters: Mountlake Terrace, WA Full-Service Offices: 7 Primary Markets: WA ------Key "Sm-All Stars" Stats------EPS Growth Loan Growth Deposit Growth ROAE Median 6.6% 9.2% 6.5% 7.9% FSBW 120.9% 32.7% 33.8% 11.5%

NPAs 1 / Loans and OREO NCOs / Avg. Loans TCE / TA Median 1.0% < 0.25% > 7.0% FSBW 0.2% 0.17% 12.5% Company Description FS Bancorp, Inc., a WA corporation, is the holding company for 1st Security Bank of Washington. The Bank provides loan and deposit services to customers who are predominantly small and middle-market businesses and individuals in western WA through its 7 branches in suburban communities in the greater Puget Sound area. The Bank services home mortgage customers throughout Washington State with an emphasis in the Puget Sound and Tri-Cities home lending markets.

Stock Price History LTM P/E History 2

Source: SNL Financial Source: SNL Financial

52-Week Range $16 - $24 Annual Dividend $0.28 3-Mo Avg. Daily Vol. 4,821 Yield 1.2% Stated Book Value $21.86 Price/Book 108% Tangible Book Value $21.86 Price/Tangible Book 108%

EOP Loans (as of 6/30/2015) EOP Deposits (as of 6/30/2015) Construction Noninterest- Interest- Home Equity & Develop. CDs btwn CDs > Bearing Bearing 4% 1-4 Family 14% $100k and $250k Checking Checking 15% CRE $250k 7% 14% 7% 10% 18% Savings 5% Multi-Family 5%

Indirect CDs < Commercial Home $100k Business 13% Other Improv. 17% Solar Money Consumer Marine 23% 5% 6% Market 1% 35%

1 Accruing TDRs are excluded from NPAs 2 P/E multiples above 40x are excluded from chart

Source: Sandler O'Neill + Partners, L.P. and SNL Financial. 28 FS Bancorp, Inc. FSBW Quarterly Snapshot 0.29 2Q15 1Q15 4Q14 3Q14 2Q14 Per Share Data: Diluted EPS $0.93 $0.70 $0.52 $0.39 $0.33 Core EPS $0.93 $0.68 $0.52 $0.40 $0.33 Book Value Per Share $21.86 $21.08 $20.35 $19.78 $19.40 Tangible Book Value Per Share $21.86 $21.08 $20.35 $19.78 $19.40 Dividend Per Share $0.07 $0.06 $0.06 $0.06 $0.06 Period End Stock Price $22.45 $19.36 $18.25 $17.10 $17.40 Average Diluted Shares (millions) 3.0 3.0 2.9 2.9 3.0 Shares Outstanding (millions) 3.2 3.2 3.2 3.2 3.2

Performance Ratios: ROA (Core) 1.99% 1.54% 1.25% 1.02% 0.91% ROE (Core) 16.3% 12.2% 9.4% 7.5% 6.2% NIM 5.13% 5.00% 5.12% 5.33% 5.07% Efficiency Ratio 59.7% 64.4% 74.1% 73.1% 75.2% Fee Income/ Operating Revenue 43.4% 38.9% 33.7% 29.4% 32.0% Effective Tax Rate 35.1% 33.8% 22.1% 33.0% 33.6% Dividend Payout Ratio 7.5% 8.6% 11.5% 15.4% 18.2%

Balance Sheet Ratios: Loans/ Deposits 93.3% 96.8% 93.5% 94.8% 94.1% Loans/ Earning Assets 83.4% 83.5% 81.3% 81.9% 78.6% Tangible Equity/ Assets 12.5% 12.6% 12.9% 13.6% 14.4% Securities/ Assets 9.1% 8.6% 9.9% 10.9% 13.8%

Asset Quality Ratios: NPAs/ Assets 0.31% 0.34% 0.24% 0.25% 0.27% Reserve/ Loans 1.44% 1.40% 1.45% 1.49% 1.60% Reserve/ NPAs 392% 347% 501% 484% 470% NCOs/ Average Loans 0.07% 0.26% 0.17% 0.20% 0.18%

Annualized Growth Rates: Gross Loans HFI 15.8% 29.7% 36.5% 35.5% 50.8% Deposits 15.8% 29.7% 36.5% 35.5% 50.8% EPS 131.4% 138.5% 133.3% 72.7% 55.2%

Annual Snapshot 2014 2013 2012 2011 2010 Per Share Data: Diluted EPS $1.52 $1.29 $1.76 NA NA Core EPS $1.53 $1.20 $1.70 NA NA Book Value Per Share $20.35 $19.23 $18.49 NA NA Tangible Book Value Per Share $20.35 $19.23 $18.49 NA NA Dividend Per Share $0.23 $0.15 $0.00 NA NA Period End Stock Price $18.25 $17.15 $12.97 NA NA Average Diluted Shares (millions) 3.0 3.0 3.0 NA NA Shares Outstanding (millions) 3.2 3.2 3.2 NA NA

Performance Ratios: ROA (Core) 1.01% 0.94% 1.57% 0.52% 0.33% ROE (Core) 7.2% 6.0% 12.4% 5.8% 3.9% NIM 5.12% 5.33% 5.43% 5.19% 5.32% Efficiency Ratio 74.0% 70.3% 69.2% 71.1% 72.1% Fee Income/ Operating Revenue 31.3% 30.3% 26.4% 15.2% 16.5% Effective Tax Rate 29.8% 34.0% -65.6% 0.0% 0.0% Dividend Payout Ratio 15.1% 11.6% 0.0% NA NA

Balance Sheet Ratios: Loans/ Deposits 93.5% 84.9% 96.8% 89.9% 97.0% Loans/ Earning Assets 81.3% 70.1% 79.3% 76.9% 79.4% Tangible Equity/ Assets 12.9% 14.9% 16.7% 9.4% 8.5% Securities/ Assets 9.9% 13.8% 12.6% 10.1% 3.2%

Asset Quality Ratios: NPAs/ Assets 0.24% 0.96% 1.79% 3.53% 3.94% Reserve/ Loans 1.45% 1.71% 1.63% 1.96% 2.49% Reserve/ NPAs 501% 127% 73% 43% 51% NCOs/ Average Loans 0.23% 0.60% 1.03% 1.80% 2.10%

Annual Growth Rates: Gross Loans HFI 37.4% 2.3% 26.3% -6.4% -0.9% Deposits 24.8% 16.6% 17.3% 1.0% 5.6% EPS 17.8% -26.7% NA NA NA

3-Year EPS CAGR NA 5-Year EPS CAGR NA Note: All data as calculated by SNL Financial Source: SNL Financial

29 Guaranty Bancorp NASDAQ: GBNK - $16.89 SOP Analyst: Tim O'Brien Guaranty Bancorp Statistics: Market Cap: $349.8 million CEO: Paul W. Taylor Assets: $2,270 million CEO Age: 54 Employees: 358 Headquarters: Denver, CO Full-Service Offices: 26 Primary Markets: CO ------Key "Sm-All Stars" Stats------EPS Growth Loan Growth Deposit Growth ROAE Median 6.6% 9.2% 6.5% 7.9% GBNK 6.8% 16.0% 12.2% 7.9%

NPAs 1 / Loans and OREO NCOs / Avg. Loans TCE / TA Median 1.0% < 0.25% > 7.0% GBNK 0.9% -0.04% 9.2% Company Description Guaranty Bancorp is a $2.3 bil. financial services company that operates as the bank holding company for Guaranty Bank and Trust Company, a premier CO community bank. The Bank provides comprehensive financial solutions to consumers and small to medium-sized businesses that value local and personalized service. In addition to loans and depository services, the Bank also offers wealth management solutions, including trust and investment management services.

Stock Price History LTM P/E History 2

Source: SNL Financial Source: SNL Financial

52-Week Range $13 - $18 Annual Dividend $0.40 3-Mo Avg. Daily Vol. 46,453 Yield 2.4% Stated Book Value $9.84 Price/Book 172% Tangible Book Value $9.56 Price/Tangible Book 177%

EOP Loans (as of 6/30/2015) EOP Deposits (as of 6/30/2015) Commercial & Residential Noninterest- Time Real Estate Bearing 13% 69% Demand Other 36% 2% Savings 8%

Consumer Money Interest- 4% Commercial Construction Market Bearing 20% 5% 21% Demand & NOW 22%

1 Accruing TDRs are excluded from NPAs 2 P/E multiples above 40x are excluded from chart

Source: Sandler O'Neill + Partners, L.P. and SNL Financial. 30 Guaranty Bancorp GBNK Quarterly Snapshot 0.17 2Q15 1Q15 4Q14 3Q14 2Q14 Per Share Data: Diluted EPS $0.26 $0.24 $0.06 $0.22 $0.19 Core EPS $0.28 $0.26 $0.08 $0.24 $0.21 Book Value Per Share $9.84 $9.71 $9.57 $9.46 $9.27 Tangible Book Value Per Share $9.56 $9.41 $9.24 $9.10 $9.03 Dividend Per Share $0.10 $0.10 $0.05 $0.05 $0.05 Period End Stock Price $16.51 $16.96 $14.44 $13.51 $13.90 Average Diluted Shares (millions) 21.2 21.2 21.1 21.1 21.1 Shares Outstanding (millions) 21.7 21.7 21.6 21.7 21.7

Performance Ratios: ROA (Core) 1.07% 1.03% 0.33% 1.00% 0.91% ROE (Core) 11.0% 10.3% 3.2% 10.0% 9.1% NIM 3.73% 3.87% 3.71% 3.77% 3.72% Efficiency Ratio 60.2% 63.3% 88.1% 63.7% 66.8% Fee Income/ Operating Revenue 18.9% 18.0% 21.6% 19.6% 18.4% Effective Tax Rate 33.8% 33.5% 19.5% 33.2% 31.5% Dividend Payout Ratio 38.5% 41.7% 83.3% 22.7% 26.3%

Balance Sheet Ratios: Loans/ Deposits 95.8% 90.3% 91.5% 89.2% 92.6% Loans/ Earning Assets 72.8% 71.7% 71.8% 70.6% 69.8% Tangible Equity/ Assets 9.2% 9.6% 9.4% 9.5% 9.6% Securities/ Assets 19.5% 21.1% 21.2% 22.0% 22.9%

Asset Quality Ratios: NPAs/ Assets 1.18% 1.37% 1.37% 1.66% 1.30% Reserve/ Loans 1.37% 1.45% 1.46% 1.51% 1.54% Reserve/ NPAs 85% 76% 78% 65% 83% NCOs/ Average Loans -0.06% -0.01% -0.04% -0.05% -0.17%

Annualized Growth Rates: Gross Loans HFI 29.3% 3.4% 16.0% 12.4% 22.2% Deposits 29.3% 3.4% 16.0% 12.4% 22.2% EPS 33.3% 1,200.0% -290.9% 63.2% 47.1%

Annual Snapshot 2014 2013 2012 2011 2010 Per Share Data: Diluted EPS $0.64 $0.67 $0.72 ($1.04) ($3.58) Core EPS $0.72 $0.76 $0.82 $0.29 ($3.05) Book Value Per Share $9.57 $8.89 $8.89 $8.11 $8.92 Tangible Book Value Per Share $9.24 $8.58 $8.45 $7.64 $7.60 Dividend Per Share $0.20 $0.08 $0.00 $0.00 $0.00 Period End Stock Price $14.44 $14.05 $9.75 $7.35 $7.10 Average Diluted Shares (millions) 21.1 21.0 20.9 13.0 10.3 Shares Outstanding (millions) 21.6 21.3 21.2 21.1 10.7

Performance Ratios: ROA (Core) 0.76% 0.85% 0.99% 0.47% -1.30% ROE (Core) 7.6% 8.4% 9.6% 5.0% -13.6% NIM 3.73% 3.71% 3.75% 3.67% 3.54% Efficiency Ratio 72.2% 69.7% 74.0% 76.1% 72.3% Fee Income/ Operating Revenue 19.5% 17.8% 15.5% 14.6% 14.9% Effective Tax Rate 31.6% 31.2% -26.7% 0.0% NA Dividend Payout Ratio 31.3% 11.2% 0.0% NA NA

Balance Sheet Ratios: Loans/ Deposits 91.5% 86.4% 79.7% 83.6% 82.4% Loans/ Earning Assets 71.8% 68.3% 60.6% 63.7% 63.6% Tangible Equity/ Assets 9.4% 9.6% 9.5% 9.6% 7.9% Securities/ Assets 21.2% 23.2% 24.3% 22.9% 22.4%

Asset Quality Ratios: NPAs/ Assets 1.37% 1.37% 1.97% 3.30% 5.96% Reserve/ Loans 1.46% 1.59% 2.17% 3.16% 3.86% Reserve/ NPAs 78% 80% 68% 62% 42% NCOs/ Average Loans -0.10% 0.36% 0.68% 1.55% 2.85%

Annual Growth Rates: Gross Loans HFI 16.8% 13.9% 5.5% -8.8% -20.7% Deposits 10.3% 5.1% 10.7% -10.2% -13.6% EPS -4.5% -6.9% NM NM NM

3-Year EPS CAGR NM 5-Year EPS CAGR NM Note: All data as calculated by SNL Financial Source: SNL Financial

31 Heritage Commerce Corp NASDAQ: HTBK - $11.35 SOP Analyst: Tim O'Brien Heritage Commerce Corp Statistics: Market Cap: $364.0 million CEO: Walter T. Kaczmarek Assets: $1,680 million CEO Age: 63 Employees: 243 Headquarters: San Jose, CA Full-Service Offices: 11 Primary Markets: CA ------Key "Sm-All Stars" Stats------EPS Growth Loan Growth Deposit Growth ROAE Median 6.6% 9.2% 6.5% 7.9% HTBK 22.5% 14.5% 14.1% 8.5%

NPAs 1 / Loans and OREO NCOs / Avg. Loans TCE / TA Median 1.0% < 0.25% > 7.0% HTBK 0.5% -0.03% 9.1% Company Description Heritage Commerce Corp, a bank holding company established in February 1998, is the parent company of Heritage Bank of Commerce, established in 1994 and headquartered in San Jose with full-service branches in Danville, Fremont, Gilroy, Hollister, Los Altos, Los Gatos, Morgan Hill, Pleasanton, Sunnyvale, and Walnut Creek. Heritage Bank of Commerce is an SBA Preferred Lender. Bay View Funding, a subsidiary of Heritage Bank of Commerce, is based in Santa Clara and provides business ‑essential working capital factoring financing to various industries throughout the US.

Stock Price History LTM P/E History 2

Source: SNL Financial Source: SNL Financial

52-Week Range $8 - $12 Annual Dividend $0.32 3-Mo Avg. Daily Vol. 83,119 Yield 2.8% Stated Book Value $6.30 Price/Book 180% Tangible Book Value $5.70 Price/Tangible Book 199%

EOP Loans (as of 6/30/2015) EOP Deposits (as of 6/30/2015) CDARS - Time > Brokered Money Commercial $250k Time Market & Noninterest- 42% 11% 2% Time Bearing 1% Demand Time < 40% Consumer $250k 1% 4%

Savings & Home Equity Commercial 6% Money Interest- Land & & Residential Market Bearing Construction Real Estate 26% Demand 6% 45% 16%

1 Accruing TDRs are excluded from NPAs 2 P/E multiples above 40x are excluded from chart

Source: Sandler O'Neill + Partners, L.P. and SNL Financial. 32 Heritage Commerce Corp HTBK Quarterly Snapshot 0.10 2Q15 1Q15 4Q14 3Q14 2Q14 Per Share Data: Diluted EPS $0.14 $0.13 $0.11 $0.11 $0.10 Core EPS $0.16 $0.14 $0.13 $0.12 $0.11 Book Value Per Share $6.30 $6.31 $6.22 $6.20 $6.14 Tangible Book Value Per Share $5.70 $5.70 $5.60 $6.15 $6.09 Dividend Per Share $0.08 $0.08 $0.05 $0.05 $0.04 Period End Stock Price $9.61 $9.13 $8.83 $8.21 $8.17 Average Diluted Shares (millions) 26.8 26.7 26.6 26.5 26.5 Shares Outstanding (millions) 26.6 26.5 26.5 26.4 26.4

Performance Ratios: ROA (Core) 1.17% 1.06% 1.01% 0.94% 0.99% ROE (Core) 10.4% 9.4% 8.9% 8.0% 8.2% NIM 4.65% 4.52% 4.36% 3.96% 4.06% Efficiency Ratio 59.9% 63.6% 63.6% 63.0% 64.2% Fee Income/ Operating Revenue 10.9% 10.3% 10.1% 11.5% 13.0% Effective Tax Rate 37.5% 37.0% 35.6% 36.5% 35.6% Dividend Payout Ratio 57.1% 61.5% 45.5% 45.5% 40.0%

Balance Sheet Ratios: Loans/ Deposits 78.3% 77.4% 78.4% 76.7% 78.1% Loans/ Earning Assets 66.9% 66.0% 66.6% 65.3% 66.2% Tangible Equity/ Assets 10.3% 10.4% 10.5% 11.7% 12.2% Securities/ Assets 19.0% 18.5% 19.3% 19.1% 24.8%

Asset Quality Ratios: NPAs/ Assets 0.32% 0.52% 0.41% 0.46% 0.59% Reserve/ Loans 1.65% 1.68% 1.69% 1.80% 1.87% Reserve/ NPAs 347% 217% 277% 259% 211% NCOs/ Average Loans -0.07% -0.09% 0.02% 0.01% 0.01%

Annualized Growth Rates: Gross Loans HFI 11.5% 4.9% 22.9% 15.9% 20.6% Deposits 11.5% 4.9% 22.9% 15.9% 20.6% EPS 30.8% 72.7% 0.0% 40.0% 0.0%

Annual Snapshot 2014 2013 2012 2011 2010 Per Share Data: Diluted EPS $0.42 $0.36 $0.27 $0.28 ($3.64) Core EPS $0.46 $0.37 $0.29 $0.28 ($1.94) Book Value Per Share $6.22 $5.84 $5.71 $5.30 $4.73 Tangible Book Value Per Share $5.60 $5.78 $5.63 $5.20 $4.61 Dividend Per Share $0.18 $0.06 $0.00 $0.00 $0.00 Period End Stock Price $8.83 $8.24 $6.98 $4.74 $4.50 Average Diluted Shares (millions) 26.5 26.4 26.3 26.3 16.0 Shares Outstanding (millions) 26.5 26.4 26.3 26.3 26.2

Performance Ratios: ROA (Core) 0.95% 0.83% 0.71% 0.89% -2.14% ROE (Core) 8.0% 6.9% 5.6% 6.0% -15.8% NIM 4.10% 3.84% 3.88% 3.94% 3.69% Efficiency Ratio 64.4% 69.2% 68.2% 69.5% 83.2% Fee Income/ Operating Revenue 11.8% 12.5% 13.1% 14.7% 11.3% Effective Tax Rate 36.0% 35.0% 35.6% 1.7% NA Dividend Payout Ratio 42.9% 16.7% 0.0% 0.0% NA

Balance Sheet Ratios: Loans/ Deposits 78.4% 71.1% 54.9% 72.9% 85.1% Loans/ Earning Assets 66.6% 60.8% 47.6% 57.7% 67.4% Tangible Equity/ Assets 10.5% 11.5% 9.9% 15.0% 14.4% Securities/ Assets 19.3% 25.9% 25.4% 29.9% 19.4%

Asset Quality Ratios: NPAs/ Assets 0.41% 0.76% 1.18% 1.39% 2.78% Reserve/ Loans 1.69% 2.09% 2.33% 2.70% 2.94% Reserve/ NPAs 277% 170% 95% 114% 73% NCOs/ Average Loans 0.05% -0.11% 0.57% 1.12% 3.13%

Annual Growth Rates: Gross Loans HFI 19.0% 12.6% 6.2% -9.6% -20.9% Deposits 7.9% -13.1% 41.0% 5.6% -8.8% EPS 16.7% 33.3% -3.6% NM NM

3-Year EPS CAGR 14.5% 5-Year EPS CAGR NM Note: All data as calculated by SNL Financial Source: SNL Financial

33 Hilltop Holdings Inc. NYSE: HTH - $20.18 Hilltop Holdings Inc. Statistics: Market Cap: $2,008.3 million CEO: Jeremy B. Ford Assets: $12,477 million CEO Age: 41 Employees: 5,400 Headquarters: Dallas, TX Full-Service Offices: NA Primary Markets: TX ------Key "Sm-All Stars" Stats------EPS Growth Loan Growth Deposit Growth ROAE Median 6.6% 9.2% 6.5% 7.9% HTH 51.9% 19.5% 10.4% 13.0%

NPAs 1 / Loans and OREO NCOs / Avg. Loans TCE / TA Median 1.0% < 0.25% > 7.0% HTH 0.5% 0.03% 11.2% Company Description Hilltop Holdings is a Dallas-based financial holding company. Through its wholly owned subsidiary, PlainsCapital Corporation, a regional commercial banking franchise, it has 2 operating subsidiaries: PlainsCapital Bank and PrimeLending. Under Hilltop Securities Holdings LLC, First Southwest, Southwest Securities and SWS Financial Services provide a full complement of securities brokerage, institutional and investment banking services in addition to clearing services and retail financial advisory. Through Hilltop Holdings’ other wholly owned subsidiary, National Lloyds Corporation, it provides property and casualty insurance through 2 insurance companies, National Lloyds Insurance Company and American Summit Insurance Company. At 6/30, Hilltop employed ~5,400 people and operated ~450 locations in 44 states.

Stock Price History LTM P/E History 2

Source: SNL Financial Source: SNL Financial

52-Week Range $17 - $25 Annual Dividend $0.00 3-Mo Avg. Daily Vol. 428,621 Yield 0.0% Stated Book Value $16.82 Price/Book 120% Tangible Book Value $13.67 Price/Tangible Book 148%

EOP Loans (as of 6/30/2015) EOP Deposits (as of 6/30/2015)

Secured C&I Time Noninterest- 39% 20% Bearing Unsecured Demand C&I 32% 2% Savings 4% Covered Loans 9% CRE 27% Interest- Bearing Commercial Demand Construction 6% & Land Residential Money NOW Develop. Real Estate Market 17% 8% 13% 19%

1 Accruing TDRs are excluded from NPAs 2 P/E multiples above 40x are excluded from chart

Source: Sandler O'Neill + Partners, L.P. and SNL Financial.

34 Hilltop Holdings Inc. HTH Quarterly Snapshot 0.26 2Q15 1Q15 4Q14 3Q14 2Q14 Per Share Data: Diluted EPS $0.30 $1.11 $0.35 $0.26 $0.30 Core EPS $0.34 $0.64 $0.38 $0.28 $0.32 Book Value Per Share $16.82 $16.60 $14.93 $14.51 $14.22 Tangible Book Value Per Share $13.67 $13.42 $11.47 $11.03 $10.70 Dividend Per Share $0.00 $0.00 $0.00 $0.00 $0.00 Period End Stock Price $24.09 $19.44 $19.95 $20.05 $21.26 Average Diluted Shares (millions) 100.4 100.6 90.6 90.6 90.6 Shares Outstanding (millions) 99.5 100.3 90.2 90.2 90.2

Performance Ratios: ROA (Core) 1.10% 2.41% 1.61% 1.17% 1.36% ROE (Core) 8.2% 16.2% 9.8% 7.5% 8.8% NIM 3.74% 3.48% 4.76% 4.41% 5.16% Efficiency Ratio 86.0% 83.5% 79.1% 84.5% 82.1% Fee Income/ Operating Revenue 75.0% 74.1% 70.0% 71.2% 67.4% Effective Tax Rate 37.3% 12.0% 38.5% 35.8% 36.2% Dividend Payout Ratio 0.0% 0.0% 0.0% 0.0% 0.0%

Balance Sheet Ratios: Loans/ Deposits 80.2% 75.6% 71.6% 72.5% 74.1% Loans/ Earning Assets 54.7% 52.4% 63.3% 62.8% 63.3% Tangible Equity/ Assets 11.2% 11.9% 12.9% 12.5% 11.9% Securities/ Assets 11.5% 11.3% 13.4% 15.2% 14.9%

Asset Quality Ratios: NPAs/ Assets 0.27% 0.28% 0.28% 0.30% 0.30% Reserve/ Loans 0.60% 0.62% 0.71% 0.74% 0.68% Reserve/ NPAs 122% 114% 159% 156% 143% NCOs/ Average Loans -0.04% 0.03% 0.01% 0.13% 0.20%

Annualized Growth Rates: Gross Loans HFI 4.8% 72.2% 3.8% -3.5% 0.0% Deposits 4.8% 72.2% 3.8% -3.5% 0.0% EPS -291.9% 868.6% 138.5% -53.3% 61.5%

Annual Snapshot 2014 2013 2012 2011 2010 Per Share Data: Diluted EPS $1.17 $1.40 ($0.10) NA NA Core EPS $1.25 $1.34 ($0.01) NA NA Book Value Per Share $14.93 $13.27 $12.34 NA NA Tangible Book Value Per Share $11.47 $9.70 $8.37 NA NA Dividend Per Share $0.00 $0.00 $0.00 NA $0.00 Period End Stock Price $19.95 $23.13 $13.54 NA $9.92 Average Diluted Shares (millions) 90.6 90.3 58.8 NA NA Shares Outstanding (millions) 90.2 90.2 83.5 NA NA

Performance Ratios: ROA (Core) 1.34% 1.59% NA NA NA ROE (Core) 8.6% 10.1% NA NA NA NIM 4.74% 4.50% 2.35% NA NA Efficiency Ratio 81.9% 79.6% 97.6% NA NA Fee Income/ Operating Revenue 68.9% 73.8% 88.6% NA NA Effective Tax Rate 36.8% 35.8% NA NA NA Dividend Payout Ratio 0.0% 0.0% NA NA NA

Balance Sheet Ratios: Loans/ Deposits 71.6% 67.2% 67.1% NA NA Loans/ Earning Assets 63.3% 62.8% 62.5% NA NA Tangible Equity/ Assets 12.9% 11.5% 11.7% NA NA Securities/ Assets 13.4% 14.6% 15.3% NA NA

Asset Quality Ratios: NPAs/ Assets 0.28% 0.33% 0.18% NA NA Reserve/ Loans 0.71% 0.61% 0.07% NA NA Reserve/ NPAs 159% 117% 25% NA NA NCOs/ Average Loans 0.09% 0.15% NA NA NA

Annual Growth Rates: Gross Loans HFI 0.9% 43.4% NA NA NA Deposits -5.3% 43.0% NA NA NA EPS -16.4% NA NA NA NA

3-Year EPS CAGR NA 5-Year EPS CAGR NA Note: All data as calculated by SNL Financial Source: SNL Financial

35 HomeStreet, Inc. NASDAQ: HMST - $22.41 HomeStreet, Inc. Statistics: Market Cap: $494.6 million CEO: Mark K. Mason Assets: $4,866 million CEO Age: 55 Employees: 1,964 Headquarters: Seattle, WA Full-Service Offices: 41 Primary Markets: WA, CA, HI, OR ------Key "Sm-All Stars" Stats------EPS Growth Loan Growth Deposit Growth ROAE Median 6.6% 9.2% 6.5% 7.9% HMST 124.1% 59.5% 37.4% 9.3%

NPAs 1 / Loans and OREO NCOs / Avg. Loans TCE / TA Median 1.0% < 0.25% > 7.0% HMST 0.8% -0.01% 8.8% Company Description HomeStreet, Inc. is a diversified financial services company headquartered in Seattle, WA and is the holding company for HomeStreet Bank, a state-chartered, FDIC-insured savings bank. HomeStreet offers consumer, commercial and private banking services and investment products in WA, OR, CA and HI, property and casualty insurance products in WA, OR, CA and AZ, and originates residential and commercial mortgages and construction loans for borrowers located in the Western United States and HI.

Stock Price History LTM P/E History 2

Source: SNL Financial Source: SNL Financial

52-Week Range $16 - $24 Annual Dividend $0.44 3-Mo Avg. Daily Vol. 144,975 Yield 0.0% Stated Book Value $20.29 Price/Book 110% Tangible Book Value $19.35 Price/Tangible Book 116%

EOP Loans (as of 6/30/2015) EOP Deposits (as of 6/30/2015) Noninterest- Single-Family Home Equity Noninterest- Bearing: 40% & Other Bearing: Checking & Consumer Other Savings 7% CDs 9% 12% 23% NOW 13%

CRE 19% Commercial Business Construction 6% Statement & Land Multi-Family Money Savings Develop. 12% Market 9% 16% 34%

1 Accruing TDRs are excluded from NPAs 2 P/E multiples above 40x are excluded from chart

Source: Sandler O'Neill + Partners, L.P. and SNL Financial. 36 HomeStreet, Inc. HMST Quarterly Snapshot 0.15 2Q15 1Q15 4Q14 3Q14 2Q14 Per Share Data: Diluted EPS $0.56 $0.59 $0.38 $0.33 $0.63 Core EPS $0.59 $0.80 $0.37 $0.34 $0.66 Book Value Per Share $20.29 $19.94 $20.34 $19.83 $19.41 Tangible Book Value Per Share $19.35 $18.97 $19.39 $18.86 $18.42 Dividend Per Share $0.00 $0.00 $0.00 $0.00 $0.00 Period End Stock Price $22.82 $18.32 $17.41 $17.09 $18.37 Average Diluted Shares (millions) 22.3 17.4 15.0 15.0 15.0 Shares Outstanding (millions) 22.1 22.0 14.9 14.9 14.8

Performance Ratios: ROA (Core) 1.11% 1.46% 0.63% 0.63% 1.28% ROE (Core) 11.4% 15.0% 7.1% 7.0% 13.7% NIM 3.63% 3.59% 3.56% 3.49% 3.47% Efficiency Ratio 81.4% 77.2% 87.0% 89.0% 80.7% Fee Income/ Operating Revenue 64.9% 69.1% 64.7% 64.2% 69.9% Effective Tax Rate 32.7% 24.4% 42.0% 28.6% 32.3% Dividend Payout Ratio 0.0% 0.0% 0.0% 0.0% 0.0%

Balance Sheet Ratios: Loans/ Deposits 88.1% 85.3% 86.7% 81.9% 75.9% Loans/ Earning Assets 79.7% 80.3% 77.1% 76.8% 73.2% Tangible Equity/ Assets 8.8% 9.1% 8.2% 8.1% 8.5% Securities/ Assets 11.4% 11.2% 13.9% 14.0% 15.2%

Asset Quality Ratios: NPAs/ Assets 2.80% 2.99% 3.71% 4.01% 4.58% Reserve/ Loans 0.66% 0.67% 0.80% 0.81% 0.92% Reserve/ NPAs 24% 22% 22% 20% 20% NCOs/ Average Loans -0.03% -0.01% 0.01% 0.01% 0.03%

Annualized Growth Rates: Gross Loans HFI 19.4% 143.1% 8.6% 50.9% 19.8% Deposits -2.6% 147.0% 3.3% 1.3% 7.8% EPS -20.3% 221.1% 60.6% -190.5% 1,280.0%

Annual Snapshot 2014 2013 2012 2011 2010 Per Share Data: Diluted EPS $1.49 $1.61 $5.98 $2.80 ($6.34) Core EPS $1.52 $1.73 $5.91 $2.96 ($7.04) Book Value Per Share $20.34 $17.97 $18.34 $15.99 $10.88 Tangible Book Value Per Share $19.39 $17.00 $18.31 NA NA Dividend Per Share $0.11 $0.33 $0.00 NA NA Period End Stock Price $17.41 $20.00 $25.55 NA NA Average Diluted Shares (millions) 15.0 14.8 13.7 5.7 5.4 Shares Outstanding (millions) 14.9 14.8 14.4 5.4 5.4

Performance Ratios: ROA (Core) 0.71% 0.94% 3.38% 0.74% -1.32% ROE (Core) 7.8% 10.3% 38.4% 24.9% -42.6% NIM 3.51% 3.17% 2.89% 2.36% 1.50% Efficiency Ratio 87.9% 84.0% 58.0% 64.7% 75.5% Fee Income/ Operating Revenue 65.0% 71.7% 79.6% 66.5% 68.3% Effective Tax Rate 33.2% 31.6% 20.8% -1.3% NA Dividend Payout Ratio 7.4% 20.5% 0.0% NA NA

Balance Sheet Ratios: Loans/ Deposits 86.7% 85.7% 67.6% 66.9% 75.3% Loans/ Earning Assets 77.1% 70.4% 73.6% 64.7% 71.2% Tangible Equity/ Assets 8.2% 8.2% 10.0% NA NA Securities/ Assets 13.9% 17.5% 17.3% 16.2% 14.1%

Asset Quality Ratios: NPAs/ Assets 2.89% 3.79% 5.37% 9.71% 12.69% Reserve/ Loans 0.80% 1.10% 1.41% 2.86% 3.54% Reserve/ NPAs 22% 21% 20% 19% 20% NCOs/ Average Loans 0.02% 0.24% 1.60% 1.56% 4.18%

Annual Growth Rates: Gross Loans HFI 11.9% 41.8% -0.5% -16.2% -22.7% Deposits 10.6% 11.8% -1.6% -5.6% -8.7% EPS -7.5% -73.1% 113.6% NM NM

3-Year EPS CAGR -19.0% 5-Year EPS CAGR NM Note: All data as calculated by SNL Financial Source: SNL Financial

37 MainSource Financial Group, Inc. NASDAQ: MSFG - $21.16 SOP Analyst: Scott Siefers MainSource Financial Group, Inc. Statistics: Market Cap: $457.6 million CEO: Archie M. Brown Jr. Assets: $3,240 million CEO Age: 54 Employees: 806 Headquarters: Greensburg, IN Full-Service Offices: 81 Primary Markets: IN, OH, IL, KY ------Key "Sm-All Stars" Stats------EPS Growth Loan Growth Deposit Growth ROAE Median 6.6% 9.2% 6.5% 7.9% MSFG 7.1% 17.3% 12.4% 9.1%

NPAs 1 / Loans and OREO NCOs / Avg. Loans TCE / TA Median 1.0% < 0.25% > 7.0% MSFG 0.9% 0.07% 9.2% Company Description MainSource Financial Group is a community-focused, financial holding company with assets of approximately $3.2 bil. The Company operates 81 full-service offices throughout IN, IL, KY and OH through its banking subsidiary, MainSource Bank, headquartered in Greensburg, IN. Through its non-banking subsidiary, MainSource Title LLC, the Company provides various related financial services.

Stock Price History LTM P/E History 2

Source: SNL Financial Source: SNL Financial

52-Week Range $17 - $23 Annual Dividend $0.56 3-Mo Avg. Daily Vol. 37,553 Yield 2.6% Stated Book Value $17.02 Price/Book 124% Tangible Book Value $13.42 Price/Tangible Book 158%

EOP Loans (as of 6/30/2015) EOP Deposits (as of 6/30/2015) Agricultural Hotel CRE Construction Other CDs C&I Farm CRE Noninterest- 2% 3% & Develop. & Time 17% 4% Bearing CRE 10% Demand 4% CDs > $250k 22% Consumer 3% 2%

Savings Other CRE 23% 33% Interest- Home Equity Bearing 14% 1-4 Family Demand 21% 42%

1 Accruing TDRs are excluded from NPAs 2 P/E multiples above 40x are excluded from chart

Source: Sandler O'Neill + Partners, L.P. and SNL Financial. 38 MainSource Financial Group, Inc. MSFG Quarterly Snapshot 0.30 2Q15 1Q15 4Q14 3Q14 2Q14 Per Share Data: Diluted EPS $0.44 $0.35 $0.30 $0.41 $0.38 Core EPS $0.45 $0.35 $0.40 $0.42 $0.40 Book Value Per Share $17.02 $17.01 $16.63 $16.26 $16.00 Tangible Book Value Per Share $13.42 $13.40 $13.01 $12.90 $12.62 Dividend Per Share $0.13 $0.13 $0.11 $0.11 $0.10 Period End Stock Price $21.95 $19.64 $20.92 $17.25 $17.25 Average Diluted Shares (millions) 21.9 21.9 21.7 20.6 20.6 Shares Outstanding (millions) 21.6 21.7 21.7 20.5 20.5

Performance Ratios: ROA (Core) 1.23% 0.96% 1.14% 1.22% 1.13% ROE (Core) 10.7% 8.3% 10.1% 10.6% 10.1% NIM 3.74% 3.76% 3.77% 3.83% 3.83% Efficiency Ratio 63.2% 70.8% 63.9% 63.5% 64.6% Fee Income/ Operating Revenue 33.6% 30.2% 32.1% 32.7% 32.3% Effective Tax Rate 22.7% 18.6% 22.6% 22.9% 20.9% Dividend Payout Ratio 29.5% 37.1% 36.7% 26.8% 26.3%

Balance Sheet Ratios: Loans/ Deposits 78.7% 79.6% 79.3% 78.9% 75.4% Loans/ Earning Assets 61.4% 62.7% 62.5% 60.1% 59.1% Tangible Equity/ Assets 9.2% 9.5% 9.3% 9.3% 9.2% Securities/ Assets 26.9% 28.1% 28.2% 29.5% 30.3%

Asset Quality Ratios: NPAs/ Assets 0.68% 0.63% 1.01% 1.23% 1.29% Reserve/ Loans 1.12% 1.14% 1.18% 1.40% 1.40% Reserve/ NPAs 102% 114% 74% 69% 65% NCOs/ Average Loans 0.03% 0.13% 0.27% -0.16% 0.97%

Annualized Growth Rates: Gross Loans HFI 5.2% 2.4% 46.7% 12.3% 3.1% Deposits 5.2% 2.4% 46.7% 12.3% 3.1% EPS 102.9% 66.7% -107.3% 31.6% 106.7%

Annual Snapshot 2014 2013 2012 2011 2010 Per Share Data: Diluted EPS $1.39 $1.26 $1.30 $1.03 $0.58 Core EPS $1.56 $1.32 $1.28 $0.73 $0.52 Book Value Per Share $16.63 $14.96 $15.21 $13.87 $12.24 Tangible Book Value Per Share $13.01 $11.53 $11.72 $10.45 $8.71 Dividend Per Share $0.42 $0.28 $0.08 $0.04 $0.04 Period End Stock Price $20.92 $18.03 $12.67 $8.83 $10.41 Average Diluted Shares (millions) 20.9 20.4 20.3 20.2 20.2 Shares Outstanding (millions) 21.7 20.4 20.3 20.2 20.1

Performance Ratios: ROA (Core) 1.11% 0.99% 1.02% 0.63% 0.47% ROE (Core) 9.9% 8.7% 8.4% 5.5% 4.5% NIM 3.81% 3.91% 4.07% 4.23% 4.11% Efficiency Ratio 64.9% 67.4% 63.0% 67.3% 61.3% Fee Income/ Operating Revenue 31.5% 31.9% 31.8% 26.9% 27.5% Effective Tax Rate 21.2% 16.8% 18.1% 13.6% 1.6% Dividend Payout Ratio 30.2% 22.2% 6.2% 3.9% 6.9%

Balance Sheet Ratios: Loans/ Deposits 79.3% 76.0% 71.1% 71.0% 76.0% Loans/ Earning Assets 62.5% 58.4% 56.1% 55.5% 60.0% Tangible Equity/ Assets 9.3% 8.5% 9.4% 10.0% 8.6% Securities/ Assets 28.2% 31.8% 33.1% 32.4% 29.8%

Asset Quality Ratios: NPAs/ Assets 1.01% 1.08% 2.07% 2.81% 3.68% Reserve/ Loans 1.18% 1.65% 2.05% 2.57% 2.53% Reserve/ NPAs 74% 90% 56% 52% 42% NCOs/ Average Loans 0.33% 0.57% 1.13% 1.27% 2.21%

Annual Growth Rates: Gross Loans HFI 17.1% 7.6% 1.2% -8.7% -10.8% Deposits 12.2% 0.7% 1.2% -2.3% -2.6% EPS 10.3% -3.1% 26.2% 77.6% NM

3-Year EPS CAGR 10.5% 5-Year EPS CAGR NM Note: All data as calculated by SNL Financial Source: SNL Financial

39 Monarch Financial Holdings, Inc. NASDAQ: MNRK - $12.62 Monarch Financial Holdings, Inc. Statistics: Market Cap: $136.0 million CEO: Brad E. Schwartz Assets: $1,171 million CEO Age: 52 Employees: 645 Headquarters: Chesapeake, VA Full-Service Offices: 12 Primary Markets: VA, NC ------Key "Sm-All Stars" Stats------EPS Growth Loan Growth Deposit Growth ROAE Median 6.6% 9.2% 6.5% 7.9% MNRK 18.6% 13.3% 9.8% 11.7%

NPAs 1 / Loans and OREO NCOs / Avg. Loans TCE / TA Median 1.0% < 0.25% > 7.0% MNRK 0.2% 0.10% 9.6% Company Description Monarch Financial Holdings, Inc. is the one-bank holding company for Monarch Bank. Monarch Bank is a community bank with 10 banking offices in Chesapeake, Virginia Beach, Norfolk, and Williamsburg, VA. Monarch Bank also has loan production offices in Newport News and Richmond, VA. OBX Bank, a division of Monarch Bank, operates offices in Kitty Hawk and Nags Head, NC. Monarch Mortgage and its affiliated mortgage companies have over 30 offices with locations in VA, NC, MD, and SC.

Stock Price History LTM P/E History 2

Source: SNL Financial Source: SNL Financial

52-Week Range $12 - $15 Annual Dividend $0.36 3-Mo Avg. Daily Vol. 8,538 Yield 2.9% Stated Book Value $10.52 Price/Book 120% Tangible Book Value $10.45 Price/Tangible Book 121%

EOP Loans (as of 6/30/2015) EOP Deposits (as of 6/30/2015)

Real Estate Construction Noninterest- 22% Time Bearing Commercial 24% Demand 18% 1-4 Family 30% 15%

Home Equity Consumer & 8% Interest- Installment Money Multi-Family Bearing 1% CRE Market 2% Demand 34% 39% Savings 2% 5%

1 Accruing TDRs are excluded from NPAs 2 P/E multiples above 40x are excluded from chart

Source: Sandler O'Neill + Partners, L.P. and SNL Financial. 40 Monarch Financial Holdings, Inc. MNRK Quarterly Snapshot 0.24 2Q15 1Q15 4Q14 3Q14 2Q14 Per Share Data: Diluted EPS $0.32 $0.32 $0.25 $0.26 $0.30 Core EPS $0.31 $0.31 $0.25 $0.26 $0.29 Book Value Per Share $10.52 $10.37 $10.09 $9.87 $9.67 Tangible Book Value Per Share $10.45 $10.30 $10.01 $9.80 $9.59 Dividend Per Share $0.09 $0.08 $0.08 $0.08 $0.08 Period End Stock Price $12.55 $12.51 $13.75 $12.56 $11.72 Average Diluted Shares (millions) 10.8 10.8 10.7 10.7 10.7 Shares Outstanding (millions) 10.8 10.6 10.7 10.6 10.6

Performance Ratios: ROA (Core) 1.21% 1.28% 1.05% 1.13% 1.29% ROE (Core) 12.1% 12.6% 10.1% 10.8% 12.7% NIM 4.27% 4.26% 4.46% 4.22% 4.17% Efficiency Ratio 83.3% 82.2% 84.2% 83.2% 81.4% Fee Income/ Operating Revenue 67.8% 67.6% 62.2% 64.8% 65.9% Effective Tax Rate 36.1% 36.3% 37.2% 36.4% 34.9% Dividend Payout Ratio 28.1% 25.0% 32.0% 30.8% 26.7%

Balance Sheet Ratios: Loans/ Deposits 81.0% 75.9% 84.0% 80.7% 78.6% Loans/ Earning Assets 83.7% 79.8% 85.6% 82.9% 82.9% Tangible Equity/ Assets 9.6% 9.3% 10.0% 10.3% 10.0% Securities/ Assets 2.0% 2.1% 2.6% 2.9% 2.7%

Asset Quality Ratios: NPAs/ Assets 0.38% 0.57% 0.52% 0.70% 0.80% Reserve/ Loans 0.88% 0.91% 0.97% 1.05% 1.06% Reserve/ NPAs 193% 130% 160% 126% 111% NCOs/ Average Loans 0.09% 0.25% 0.01% 0.04% 0.07%

Annualized Growth Rates: Gross Loans HFI 3.0% 7.5% 33.0% 7.7% -8.4% Deposits 3.0% 7.5% 33.0% 7.7% -8.4% EPS 0.0% 112.0% -15.4% -53.3% 100.0%

Annual Snapshot 2014 2013 2012 2011 2010 Per Share Data: Diluted EPS $1.05 $1.08 $1.25 $0.70 $0.62 Core EPS $1.04 $0.98 $1.17 $0.66 $0.60 Book Value Per Share $10.09 $9.29 $8.80 $7.81 $7.20 Tangible Book Value Per Share $10.01 $9.20 $8.68 $7.64 $7.00 Dividend Per Share $0.31 $0.24 $0.16 $0.13 $0.12 Period End Stock Price $13.75 $12.31 $8.22 $6.41 $6.50 Average Diluted Shares (millions) 10.7 10.3 10.3 10.2 7.0 Shares Outstanding (millions) 10.7 10.5 8.6 7.2 7.2

Performance Ratios: ROA (Core) 1.13% 1.08% 1.27% 0.89% 0.78% ROE (Core) 11.0% 12.0% 15.9% 9.7% 8.7% NIM 4.25% 4.13% 4.29% 4.51% 4.22% Efficiency Ratio 82.7% 82.6% 79.3% 78.9% 77.3% Fee Income/ Operating Revenue 63.0% 63.8% 68.9% 61.8% 63.7% Effective Tax Rate 36.2% 34.5% 35.0% 31.1% 36.3% Dividend Payout Ratio 29.5% 22.2% 12.7% 19.0% 18.8%

Balance Sheet Ratios: Loans/ Deposits 84.0% 79.8% 73.3% 82.1% 79.2% Loans/ Earning Assets 85.6% 79.2% 88.1% 89.2% 88.0% Tangible Equity/ Assets 10.0% 9.5% 7.2% 8.3% 8.5% Securities/ Assets 2.6% 5.2% 2.3% 1.8% 3.3%

Asset Quality Ratios: NPAs/ Assets 0.52% 0.68% 0.40% 1.01% 1.17% Reserve/ Loans 0.97% 1.12% 1.01% 1.21% 1.23% Reserve/ NPAs 160% 130% 223% 108% 94% NCOs/ Average Loans 0.01% 0.21% 0.42% 0.77% 1.29%

Annual Growth Rates: Gross Loans HFI 8.4% 7.8% 8.8% 8.7% 3.9% Deposits 2.9% -1.0% 21.8% 4.9% 30.7% EPS -2.8% -13.6% 78.6% 12.9% 12.7%

3-Year EPS CAGR 14.5% 5-Year EPS CAGR 13.8% Note: All data as calculated by SNL Financial Source: SNL Financial

41 National Penn Bancshares, Inc. NASDAQ: NPBC - $11.78 SOP Analyst: Frank Schiraldi, CFA National Penn Bancshares, Inc. Statistics: Market Cap: $1,651.7 million CEO: Scott V. Fainor Assets: $9,604 million CEO Age: 53 Employees: 1,573 Headquarters: Allentown, PA Full-Service Offices: 124 Primary Markets: PA, NJ, MD ------Key "Sm-All Stars" Stats------EPS Growth Loan Growth Deposit Growth ROAE Median 6.6% 9.2% 6.5% 7.9% NPBC 9.0% 14.0% 10.2% 9.1%

NPAs 1 / Loans and OREO NCOs / Avg. Loans TCE / TA Median 1.0% < 0.25% > 7.0% NPBC 0.7% 0.20% 8.9% Company Description National Penn Bancshares, Inc., with approximately $9.6 bil. in assets, is a bank holding company headquartered in Allentown, PA. National Penn Bank operates 124 branch offices throughout PA, NJ and MD. National Penn’s financial services affiliates are National Penn Wealth Management, N.A., including its National Penn Investors Trust Company division; Institutional Advisors LLC; and National Penn Insurance Services Group, Inc.

Stock Price History LTM P/E History 2

Source: SNL Financial Source: SNL Financial

52-Week Range $9 - $13 Annual Dividend $0.44 3-Mo Avg. Daily Vol. 1,638,035 Yield 3.7% Stated Book Value $8.12 Price/Book 145% Tangible Book Value $5.90 Price/Tangible Book 200%

EOP Loans (as of 6/30/2015) EOP Deposits (as of 6/30/2015)

C&I 43% Noninterest- Time > Bearing NOW $100k 18% CRE - 28% Permanent 5% 21%

Time < All Other $100k Money Consumer CRE - 13% Market 5% Construction 26% Home Equity Residential 2% Savings 15% Mortgages 10% 14%

1 Accruing TDRs are excluded from NPAs 2 P/E multiples above 40x are excluded from chart

Source: Sandler O'Neill + Partners, L.P. and SNL Financial. 42 National Penn Bancshares, Inc. NPBC Quarterly Snapshot 0.16 2Q15 1Q15 4Q14 3Q14 2Q14 Per Share Data: Diluted EPS $0.19 $0.19 $0.17 $0.18 $0.19 Core EPS $0.19 $0.19 $0.19 $0.18 $0.19 Book Value Per Share $8.12 $8.08 $8.08 $7.95 $7.91 Tangible Book Value Per Share $5.90 $5.86 $5.96 $6.06 $6.02 Dividend Per Share $0.11 $0.11 $0.11 $0.10 $0.10 Period End Stock Price $11.28 $10.77 $10.53 $9.71 $10.58 Average Diluted Shares (millions) 140.8 143.5 145.9 139.8 139.7 Shares Outstanding (millions) 140.2 140.1 147.1 139.3 139.2

Performance Ratios: ROA (Core) 1.14% 1.14% 1.16% 1.20% 1.25% ROE (Core) 9.6% 9.5% 9.2% 9.3% 9.8% NIM 3.23% 3.32% 3.36% 3.45% 3.42% Efficiency Ratio 56.3% 56.3% 54.1% 56.4% 56.2% Fee Income/ Operating Revenue 26.5% 25.0% 25.7% 26.3% 27.9% Effective Tax Rate 25.5% 25.8% 25.5% 25.4% 25.6% Dividend Payout Ratio 57.9% 57.9% 64.7% 55.6% 52.6%

Balance Sheet Ratios: Loans/ Deposits 91.5% 91.4% 91.3% 86.9% 88.5% Loans/ Earning Assets 63.7% 63.3% 62.5% 62.7% 62.1% Tangible Equity/ Assets 8.9% 8.8% 9.3% 10.1% 10.0% Securities/ Assets 26.2% 26.5% 25.9% 27.7% 28.2%

Asset Quality Ratios: NPAs/ Assets 0.54% 0.66% 0.66% 0.51% 0.52% Reserve/ Loans 1.37% 1.46% 1.48% 1.63% 1.66% Reserve/ NPAs 162% 141% 142% 200% 199% NCOs/ Average Loans 0.38% 0.13% 0.12% 0.14% 0.25%

Annualized Growth Rates: Gross Loans HFI 2.5% -1.4% 49.5% 4.6% 2.3% Deposits 2.5% -1.4% 49.5% 4.6% 2.3% EPS 0.0% 47.1% -22.2% -21.1% 75.0%

Annual Snapshot 2014 2013 2012 2011 2010 Per Share Data: Diluted EPS $0.70 $0.37 $0.66 $0.56 $0.10 Core EPS $0.73 $0.70 $0.68 $0.60 $0.16 Book Value Per Share $8.08 $7.76 $8.00 $7.77 $7.23 Tangible Book Value Per Share $5.96 $5.94 $6.15 $5.97 $5.18 Dividend Per Share $0.41 $0.30 $0.41 $0.09 $0.04 Period End Stock Price $10.53 $11.33 $9.32 $8.44 $8.03 Average Diluted Shares (millions) 141.8 146.0 150.9 151.7 128.2 Shares Outstanding (millions) 147.1 145.8 145.2 151.9 136.8

Performance Ratios: ROA (Core) 1.18% 1.22% 1.20% 1.07% 0.31% ROE (Core) 9.2% 9.0% 8.5% 8.0% 2.6% NIM 3.40% 3.51% 3.50% 3.52% 3.45% Efficiency Ratio 56.3% 56.7% 55.5% 58.0% 58.4% Fee Income/ Operating Revenue 26.5% 27.8% 27.2% 25.7% 25.8% Effective Tax Rate 25.3% 15.2% 24.9% 22.3% 34.9% Dividend Payout Ratio 58.6% 81.1% 62.1% 16.1% 40.0%

Balance Sheet Ratios: Loans/ Deposits 91.3% 87.8% 88.1% 88.1% 87.7% Loans/ Earning Assets 62.5% 61.4% 60.7% 60.2% 59.2% Tangible Equity/ Assets 9.3% 10.4% 10.8% 11.0% 10.0% Securities/ Assets 25.9% 28.0% 27.5% 27.4% 25.7%

Asset Quality Ratios: NPAs/ Assets 0.66% 0.63% 0.67% 0.88% 1.01% Reserve/ Loans 1.48% 1.81% 2.12% 2.44% 2.82% Reserve/ NPAs 142% 179% 195% 170% 168% NCOs/ Average Loans 0.21% 0.38% 0.46% 0.74% 1.57%

Annual Growth Rates: Gross Loans HFI 15.2% 2.0% 1.0% -2.6% -11.5% Deposits 10.8% 2.3% 1.0% -3.0% -10.1% EPS 89.2% -43.9% 17.9% 460.0% NM

3-Year EPS CAGR 7.7% 5-Year EPS CAGR NM Note: All data as calculated by SNL Financial Source: SNL Financial

43 NewBridge Bancorp NASDAQ: NBBC - $8.34 SOP Analyst: Stephen Scouten, CFA NewBridge Bancorp Statistics: Market Cap: $299.3 million CEO: Pressley A. Ridgill Assets: $2,779 million CEO Age: 62 Employees: 491 Headquarters: Greensboro, NC Full-Service Offices: 42 Primary Markets: NC, SC ------Key "Sm-All Stars" Stats------EPS Growth Loan Growth Deposit Growth ROAE Median 6.6% 9.2% 6.5% 7.9% NBBC 78.6% 16.1% 7.5% 8.1%

NPAs 1 / Loans and OREO NCOs / Avg. Loans TCE / TA Median 1.0% < 0.25% > 7.0% NBBC 0.3% 0.10% 8.2% Company Description NewBridge Bancorp is the holding company for NewBridge Bank, a $2.8 bil. community-focused bank headquartered in Greensboro, NC. Through 42 branches, NewBridge Bank provides a comprehensive array of personal financial solutions including banking, lending and wealth management services. The Bank's commercial teams provide customized lending services, including SBA loans, along with sophisticated deposit and treasury management solutions to small businesses and middle market corporations. With continuous operations dating back to 1910 in the Piedmont Triad Region of NC (Greensboro-Winston-Salem-High Point), NewBridge Bank's served markets have expanded to also include Charlotte-Gastonia-Concord, Raleigh-Durham-Chapel Hill, and Wilmington in NC, and Greenville-Spartanburg and Charleston in SC.

Stock Price History LTM P/E History 2

Source: SNL Financial Source: SNL Financial

52-Week Range $7 - $9 Annual Dividend $0.06 3-Mo Avg. Daily Vol. 98,386 Yield 0.7% Stated Book Value $6.54 Price/Book 128% Tangible Book Value $5.79 Price/Tangible Book 144%

EOP Loans (as of 6/30/2015) EOP Deposits (as of 6/30/2015) Owner- Other Non- Occupied Farm Non- Noninterest- Non-Farm Residential Time Bearing 18% Non- 24% Other C&I 27% Residential 11% 17%

1-4 Family Construction 2% NOW 28% Multi-Family Other 4% 1-4 Family Construction Savings & Lines of 1-4 Family & Land Money Credit Closed-End Develop. Market 11% 21% 8% 27%

1 Accruing TDRs are excluded from NPAs 2 P/E multiples above 40x are excluded from chart

Source: Sandler O'Neill + Partners, L.P. and SNL Financial. 44 NewBridge Bancorp NBBC Quarterly Snapshot 0.11 2Q15 1Q15 4Q14 3Q14 2Q14 Per Share Data: Diluted EPS $0.15 $0.10 $0.11 $0.14 $0.03 Core EPS $0.15 $0.15 $0.12 $0.15 $0.13 Book Value Per Share $6.54 $6.44 $6.22 $6.14 $6.05 Tangible Book Value Per Share $5.79 $5.68 $5.50 $5.41 $5.31 Dividend Per Share $0.02 $0.02 $0.00 $0.00 $0.00 Period End Stock Price $8.93 $8.92 $8.71 $7.59 $8.06 Average Diluted Shares (millions) 39.5 38.3 37.7 37.6 37.4 Shares Outstanding (millions) 39.1 39.0 37.2 37.2 37.1

Performance Ratios: ROA (Core) 0.90% 0.85% 0.74% 0.89% 0.82% ROE (Core) 9.7% 9.3% 8.1% 9.5% 8.6% NIM 3.63% 3.64% 3.72% 3.69% 3.69% Efficiency Ratio 64.1% 65.8% 69.1% 64.6% 66.3% Fee Income/ Operating Revenue 16.2% 16.8% 16.1% 16.7% 17.2% Effective Tax Rate 35.1% 35.5% 36.6% 35.5% 36.1% Dividend Payout Ratio 10.0% 15.0% 0.0% 0.0% 0.0%

Balance Sheet Ratios: Loans/ Deposits 100.5% 96.1% 98.5% 94.3% 93.0% Loans/ Earning Assets 72.1% 71.1% 71.2% 69.9% 70.6% Tangible Equity/ Assets 8.2% 8.2% 8.2% 8.3% 8.2% Securities/ Assets 19.1% 19.6% 19.8% 20.4% 19.3%

Asset Quality Ratios: NPAs/ Assets 0.32% 0.35% 0.45% 0.53% 0.72% Reserve/ Loans 1.06% 1.12% 1.22% 1.30% 1.32% Reserve/ NPAs 241% 231% 194% 175% 132% NCOs/ Average Loans 0.12% 0.07% 0.10% 0.12% 0.48%

Annualized Growth Rates: Gross Loans HFI 11.5% 31.8% 19.4% -1.3% 78.3% Deposits 11.5% 31.8% 19.4% -1.3% 78.3% EPS 200.0% -36.4% -85.7% 1,466.7% -290.9%

Annual Snapshot 2014 2013 2012 2011 2010 Per Share Data: Diluted EPS $0.38 $0.65 ($1.80) $0.11 $0.03 Core EPS $0.51 $0.70 ($1.70) $0.06 ($0.08) Book Value Per Share $6.22 $5.33 $5.60 $7.13 $7.31 Tangible Book Value Per Share $5.50 $5.04 $5.40 $6.89 $7.02 Dividend Per Share $0.00 $0.00 $0.00 $0.00 $0.00 Period End Stock Price $8.71 $7.43 $4.63 $3.87 $4.70 Average Diluted Shares (millions) 35.5 29.1 15.7 16.6 16.1 Shares Outstanding (millions) 37.2 28.5 15.7 15.7 15.7

Performance Ratios: ROA (Core) 0.80% 1.25% -1.37% 0.22% 0.09% ROE (Core) 8.7% 12.6% -14.2% 2.3% 1.0% NIM 3.70% 3.89% 4.06% 4.22% 4.00% Efficiency Ratio 67.4% 71.6% 67.0% 65.4% 65.9% Fee Income/ Operating Revenue 17.5% 20.9% 21.0% 19.6% 20.3% Effective Tax Rate 35.9% -18.3% NA 23.6% -7.9% Dividend Payout Ratio 0.0% 0.0% NA 0.0% 0.0%

Balance Sheet Ratios: Loans/ Deposits 98.5% 91.2% 86.7% 84.6% 86.8% Loans/ Earning Assets 71.2% 71.4% 67.1% 68.5% 72.7% Tangible Equity/ Assets 8.2% 8.1% 11.3% 9.2% 8.9% Securities/ Assets 19.8% 18.8% 23.1% 19.5% 18.0%

Asset Quality Ratios: NPAs/ Assets 0.45% 0.98% 1.63% 4.38% 4.27% Reserve/ Loans 1.22% 1.73% 2.29% 2.39% 2.15% Reserve/ NPAs 194% 128% 95% 38% 37% NCOs/ Average Loans 0.20% 0.38% 3.24% 1.31% 2.01%

Annual Growth Rates: Gross Loans HFI 27.4% 22.6% -3.7% -4.8% -13.5% Deposits 17.9% 16.6% -6.1% -2.4% -3.1% EPS -41.5% NM NM 266.7% NM

3-Year EPS CAGR 51.2% 5-Year EPS CAGR NM Note: All data as calculated by SNL Financial Source: SNL Financial

45 Oritani Financial Corp. NASDAQ: ORIT - $15.35 SOP Analyst: Frank Schiraldi, CFA Oritani Financial Corp. Statistics: Market Cap: $674.4 million CEO: Kevin J. Lynch Assets: $3,353 million CEO Age: 68 Employees: 209 Headquarters: Township of Washington, NJ Full-Service Offices: 25 Primary Markets: NJ ------Key "Sm-All Stars" Stats------EPS Growth Loan Growth Deposit Growth ROAE Median 6.6% 9.2% 6.5% 7.9% ORIT 17.0% 9.9% 24.1% 9.1%

NPAs 1 / Loans and OREO NCOs / Avg. Loans TCE / TA Median 1.0% < 0.25% > 7.0% ORIT 0.6% 0.03% 15.4% Company Description Oritani Financial Corp. is the holding company for Oritani Bank, a NJ state chartered bank offering a full range of retail and commercial loan and deposit products. Oritani Bank is dedicated to providing exceptional personal service to its individual and business customers. The Bank currently operates its main office and 24 full service branches in the NJ Counties of Bergen, Hudson, Essex and Passaic.

Stock Price History LTM P/E History 2

Source: SNL Financial Source: SNL Financial

52-Week Range $14 - $16 Annual Dividend $0.70 3-Mo Avg. Daily Vol. 180,650 Yield 4.6% Stated Book Value $11.76 Price/Book 131% Tangible Book Value $11.76 Price/Tangible Book 131%

EOP Loans (as of 6/30/2015) EOP Deposits (as of 6/30/2015)

Residential Checking CRE 22% 44% Residential Time 7% 40%

Money Credit / Market Grocery Other CRE Savings 30% Retail CRE 32% 8% 17%

1 Accruing TDRs are excluded from NPAs 2 P/E multiples above 40x are excluded from chart

Source: Sandler O'Neill + Partners, L.P. and SNL Financial. 46 Oritani Financial Corp. ORIT Quarterly Snapshot 0.25 2Q15 1Q15 4Q14 3Q14 2Q14 Per Share Data: Diluted EPS $0.37 $0.26 $0.24 $0.24 $0.23 Core EPS $0.22 $0.22 $0.24 $0.24 $0.23 Book Value Per Share $11.76 $11.51 $11.42 $11.60 $11.57 Tangible Book Value Per Share $11.76 $11.51 $11.42 $11.60 $11.57 Dividend Per Share $0.18 $0.18 $0.43 $0.18 $0.18 Period End Stock Price $16.05 $14.55 $15.40 $14.09 $15.39 Average Diluted Shares (millions) 42.5 42.3 42.7 43.2 44.2 Shares Outstanding (millions) 44.0 44.0 44.5 44.8 45.5

Performance Ratios: ROA (Core) 1.14% 1.12% 1.24% 1.27% 1.30% ROE (Core) 7.4% 7.2% 7.7% 7.8% 7.6% NIM 3.05% 3.07% 3.29% 3.16% 3.27% Efficiency Ratio 39.4% 41.3% 38.4% 38.2% 38.7% Fee Income/ Operating Revenue 6.8% 5.4% 6.7% 7.7% 5.5% Effective Tax Rate 36.3% 36.2% 35.3% 35.3% 34.2% Dividend Payout Ratio 47.3% 67.3% 177.1% 72.9% 76.1%

Balance Sheet Ratios: Loans/ Deposits 142.0% 140.8% 147.7% 155.5% 160.4% Loans/ Earning Assets 82.4% 82.3% 80.7% 80.4% 79.9% Tangible Equity/ Assets 15.4% 15.3% 15.6% 16.2% 16.8% Securities/ Assets 12.1% 12.3% 13.9% 14.5% 14.8%

Asset Quality Ratios: NPAs/ Assets 0.51% 0.58% 0.67% 0.71% 0.69% Reserve/ Loans 1.11% 1.13% 1.18% 1.21% 1.24% Reserve/ NPAs 181% 161% 143% 138% 144% NCOs/ Average Loans 0.00% 0.06% 0.05% 0.01% 0.00%

Annualized Growth Rates: Gross Loans HFI 6.1% 14.6% 5.8% 11.9% 19.1% Deposits 6.1% 14.6% 5.8% 11.9% 19.1% EPS 169.2% 33.3% 0.0% 17.4% -32.0%

Annual Snapshot 2014 2013 2012 2011 2010 Per Share Data: Diluted EPS $0.94 $0.92 $0.71 $0.54 $0.15 Core EPS $0.94 $0.90 $0.70 $0.54 $0.15 Book Value Per Share $11.57 $11.43 $11.30 $11.63 $11.45 Tangible Book Value Per Share $11.57 $11.43 $11.30 $11.63 $11.45 Dividend Per Share $0.95 $1.03 $0.50 $0.38 $0.18 Period End Stock Price $15.39 $15.68 $14.39 $12.79 $10.00 Average Diluted Shares (millions) 43.7 43.0 44.4 52.9 53.6 Shares Outstanding (millions) 45.5 45.4 45.2 55.5 56.2

Performance Ratios: ROA (Core) 1.40% 1.40% 1.20% 1.13% 0.42% ROE (Core) 7.8% 7.5% 5.9% 4.4% 3.3% NIM 3.50% 3.69% 3.55% 3.36% 3.25% Efficiency Ratio 38.2% 37.1% 37.1% 34.6% 61.7% Fee Income/ Operating Revenue 5.2% 3.7% 4.8% 5.6% 8.2% Effective Tax Rate 34.4% 35.7% 36.8% 37.3% 46.6% Dividend Payout Ratio 101.1% 111.4% 70.4% 69.4% 122.2%

Balance Sheet Ratios: Loans/ Deposits 160.4% 162.5% 145.6% 123.0% 118.8% Loans/ Earning Assets 79.9% 80.6% 74.1% 65.0% 61.2% Tangible Equity/ Assets 16.8% 18.3% 18.9% 24.9% 26.0% Securities/ Assets 14.8% 14.2% 21.3% 25.6% 21.3%

Asset Quality Ratios: NPAs/ Assets 0.69% 0.98% 0.97% 0.80% 1.66% Reserve/ Loans 1.24% 1.36% 1.54% 1.56% 1.69% Reserve/ NPAs 144% 113% 119% 128% 63% NCOs/ Average Loans 0.03% 0.17% 0.21% 0.54% 0.35%

Annual Growth Rates: Gross Loans HFI 9.9% 14.0% 19.1% 10.9% 17.9% Deposits 11.4% 2.2% 0.6% 7.1% 14.4% EPS 2.2% 29.6% 31.5% 260.0% 50.0%

3-Year EPS CAGR 20.3% 5-Year EPS CAGR 56.5% Note: All data as calculated by SNL Financial Note: Data reflects calendar year (ORIT's fiscal year ends June 30) Source: SNL Financial

47 Pacific Premier Bancorp, Inc. NASDAQ: PPBI - $20.85 SOP Analyst: Andrew Liesch, CFA Pacific Premier Bancorp, Inc. Statistics: Market Cap: $448.5 million CEO: Steven R. Gardner Assets: $2,637 million CEO Age: 54 Employees: 329 Headquarters: Irvine, CA Full-Service Offices: 16 Primary Markets: CA ------Key "Sm-All Stars" Stats------EPS Growth Loan Growth Deposit Growth ROAE Median 6.6% 9.2% 6.5% 7.9% PPBI 16.5% 44.4% 45.0% 8.3%

NPAs 1 / Loans and OREO NCOs / Avg. Loans TCE / TA Median 1.0% < 0.25% > 7.0% PPBI 0.2% 0.06% 8.6% Company Description Pacific Premier Bancorp, Inc. is the holding company for Pacific Premier Bank, one of the largest community banks headquartered in Southern CA. Pacific Premier Bank is a business bank primarily focused on serving small and middle market business in the counties of Los Angeles, Orange, Riverside, San Bernardino and San Diego, CA. Pacific Premier Bank offers a diverse range of lending products including commercial, CRE, construction, residential warehouse and SBA loans, as well as specialty banking products for homeowners associations and franchise lending nationwide. Pacific Premier Bank serves its customers through its 16 full-service depository branches in Southern CA located in the cities of Corona, Encinitas, Huntington Beach, Irvine, Los Alamitos, Newport Beach, Palm Desert, Palm Springs, Riverside, San Bernardino, San Diego, Seal Beach and Tustin.

Stock Price History LTM P/E History 2

Source: SNL Financial Source: SNL Financial

52-Week Range $14 - $21 Annual Dividend $0.00 3-Mo Avg. Daily Vol. 89,509 Yield 0.0% Stated Book Value $13.09 Price/Book 159% Tangible Book Value $10.36 Price/Tangible Book 201%

EOP Loans (as of 6/30/2015) EOP Deposits (as of 6/30/2015) Commercial Owner- C&I Occupied Noninterest- SBA Time 22% 18% Bearing 2% 25% Checking 30% Warehouse Facilities 9%

Savings Construction Commercial 4% Interest- 6% Non Owner- 1-4 Family Money Bearing Multi-Family Occupied 4% Market Checking 19% 19% 34% 7%

1 Accruing TDRs are excluded from NPAs 2 P/E multiples above 40x are excluded from chart

Source: Sandler O'Neill + Partners, L.P. and SNL Financial. 48 Pacific Premier Bancorp, Inc. PPBI Quarterly Snapshot 0.15 2Q15 1Q15 4Q14 3Q14 2Q14 Per Share Data: Diluted EPS $0.36 $0.09 $0.23 $0.31 $0.27 Core EPS $0.37 $0.23 $0.30 $0.27 $0.28 Book Value Per Share $13.09 $12.78 $11.81 $11.59 $11.26 Tangible Book Value Per Share $10.36 $10.01 $10.12 $9.90 $9.56 Dividend Per Share $0.00 $0.00 $0.00 $0.00 $0.00 Period End Stock Price $16.96 $16.19 $17.33 $14.05 $14.09 Average Diluted Shares (millions) 21.8 20.4 17.2 17.3 17.5 Shares Outstanding (millions) 21.5 21.4 16.9 17.1 17.1

Performance Ratios: ROA (Core) 1.20% 0.73% 1.02% 0.98% 1.08% ROE (Core) 11.5% 7.5% 10.2% 9.6% 10.0% NIM 4.22% 3.92% 4.03% 4.15% 4.22% Efficiency Ratio 53.7% 64.4% 57.7% 59.4% 56.6% Fee Income/ Operating Revenue 14.6% 7.6% 18.5% 13.6% 11.8% Effective Tax Rate 37.0% 37.1% 42.6% 38.5% 38.1% Dividend Payout Ratio 0.0% 0.0% 0.0% 0.0% 0.0%

Balance Sheet Ratios: Loans/ Deposits 101.1% 104.3% 99.9% 100.3% 101.5% Loans/ Earning Assets 79.9% 77.0% 79.4% 75.7% 75.9% Tangible Equity/ Assets 8.6% 7.9% 8.5% 8.4% 8.6% Securities/ Assets 11.5% 11.3% 10.7% 14.8% 13.2%

Asset Quality Ratios: NPAs/ Assets 0.19% 0.21% 0.12% 0.13% 0.14% Reserve/ Loans 0.71% 0.64% 0.75% 0.70% 0.66% Reserve/ NPAs 294% 240% 492% 420% 357% NCOs/ Average Loans 0.07% 0.08% 0.00% 0.07% -0.01%

Annualized Growth Rates: Gross Loans HFI -2.4% 123.5% 20.8% 22.2% 42.7% Deposits -2.4% 123.5% 20.8% 22.2% 42.7% EPS 1,200.0% -243.5% -103.2% 59.3% 320.0%

Annual Snapshot 2014 2013 2012 2011 2010 Per Share Data: Diluted EPS $0.96 $0.54 $1.44 $0.99 $0.38 Core EPS $1.02 $0.79 $1.07 $0.72 $0.38 Book Value Per Share $11.81 $10.52 $9.85 $8.39 $7.83 Tangible Book Value Per Share $10.12 $9.08 $9.65 $8.19 $7.83 Dividend Per Share $0.00 $0.00 $0.00 $0.00 $0.00 Period End Stock Price $17.33 $15.74 $10.24 $6.34 $6.48 Average Diluted Shares (millions) 17.3 16.6 11.0 10.6 11.1 Shares Outstanding (millions) 16.9 16.7 13.7 10.3 10.0

Performance Ratios: ROA (Core) 0.96% 0.92% 1.13% 0.82% 0.54% ROE (Core) 9.3% 8.2% 12.1% 9.5% 5.6% NIM 4.15% 4.15% 4.58% 4.51% 3.72% Efficiency Ratio 60.1% 64.2% 57.2% 58.6% 64.1% Fee Income/ Operating Revenue 13.9% 11.5% 10.6% 3.2% -3.7% Effective Tax Rate 39.2% 38.3% 38.8% 37.7% 33.0% Dividend Payout Ratio 0.0% 0.0% 0.0% 0.0% 0.0%

Balance Sheet Ratios: Loans/ Deposits 99.9% 94.9% 108.6% 89.1% 85.6% Loans/ Earning Assets 79.4% 72.2% 83.4% 76.2% 67.5% Tangible Equity/ Assets 8.5% 8.9% 11.3% 8.8% 9.5% Securities/ Assets 10.7% 15.9% 8.1% 13.4% 20.4%

Asset Quality Ratios: NPAs/ Assets 0.12% 0.21% 0.36% 0.73% 0.37% Reserve/ Loans 0.75% 0.66% 0.81% 1.15% 1.57% Reserve/ NPAs 492% 231% 187% 122% 290% NCOs/ Average Loans 0.05% 0.16% 0.16% 0.52% 0.38%

Annual Growth Rates: Gross Loans HFI 31.3% 26.3% 33.0% 30.9% -1.9% Deposits 24.8% 44.4% 9.2% 25.7% 6.5% EPS 77.8% -62.5% 45.5% 160.5% NM

3-Year EPS CAGR -1.0% 5-Year EPS CAGR NM Note: All data as calculated by SNL Financial Source: SNL Financial

49 Patriot National Bancorp, Inc. NASDAQ: PNBK - $16.80 Patriot National Bancorp, Inc. Statistics: Market Cap: $66.4 million CEO: Kenneth T. Neilson Assets: $629 million CEO Age: 66 Employees: 89 Headquarters: Stamford, CT Full-Service Offices: 10 Primary Markets: CT, NY ------Key "Sm-All Stars" Stats------EPS Growth 1 Loan Growth Deposit Growth ROAE Median 6.6% 9.2% 6.5% 7.9% PNBK NM 21.1% 7.3% 28.4%

NPAs 2 / Loans and OREO NCOs / Avg. Loans TCE / TA Median 1.0% < 0.25% > 7.0% PNBK 0.1% 0.05% 9.6% Company Description Patriot National Bancorp, Inc. operates as the holding company for Patriot National Bank, which provides commercial and consumer banking services. The Company's lending activities are conducted principally in Fairfield and New Haven Counties in CT and Westchester County in NY. The Bank currently operates 10 full service branches, 8 in CT and 2 in NY. Both the Bank and the Company are headquartered in Stamford, CT.

Stock Price History LTM P/E History 3

Source: SNL Financial Source: SNL Financial

52-Week Range $14 - $20 Annual Dividend $0.00 3-Mo Avg. Daily Vol. 6,217 Yield 0.0% Stated Book Value $15.19 Price/Book 111% Tangible Book Value $15.19 Price/Tangible Book 111%

EOP Loans (as of 6/30/2015) EOP Deposits (as of 6/30/2015) Noninterest- Bearing CRE 17% 55% Brokered Commercial 10% 11% Time > $100k NOW 19% 7%

Construction Consumer 2% 10% Time < Savings Construction $100k 21% Residential to Permanent 21% Money 20% 2% Market 5%

1 PNBK had positive EPS of $4.16 for the 12 months ended 6/30/15, vs. negative EPS of ($0.16) for the 12 months ended 6/30/14 2 Accruing TDRs are excluded from NPAs 3 P/E multiples above 40x are excluded from chart Source: Sandler O'Neill + Partners, L.P. and SNL Financial. 50 Patriot National Bancorp, Inc. PNBK Quarterly Snapshot 0.08 2Q15 1Q15 4Q14 3Q14 2Q14 Per Share Data: Diluted EPS $0.18 $0.07 ($0.62) $4.53 $0.13 Core EPS $0.18 $0.07 ($0.47) $4.53 $0.13 Book Value Per Share $15.19 $15.00 $14.87 $15.50 $11.06 Tangible Book Value Per Share $15.19 $15.00 $14.87 $15.50 $11.06 Dividend Per Share $0.00 $0.00 $0.00 $0.00 $0.00 Period End Stock Price $15.61 $15.43 $16.42 $17.40 $14.20 Average Diluted Shares (millions) 3.9 4.0 3.9 3.9 3.9 Shares Outstanding (millions) 4.0 4.0 4.0 3.9 3.9

Performance Ratios: ROA (Core) 0.44% 0.18% -1.16% 12.68% 0.39% ROE (Core) 4.6% 1.9% -12.2% 157.3% 4.9% NIM 3.72% 3.44% 3.53% 3.40% 3.30% Efficiency Ratio 80.7% 86.5% 89.8% 90.8% 89.0% Fee Income/ Operating Revenue 7.6% 7.2% 8.9% 12.0% 13.1% Effective Tax Rate 39.6% 41.0% NA NA 0.0% Dividend Payout Ratio 0.0% 0.0% NA 0.0% 0.0%

Balance Sheet Ratios: Loans/ Deposits 108.0% 109.2% 107.6% 110.1% 95.7% Loans/ Earning Assets 77.9% 76.6% 74.8% 73.7% 73.2% Tangible Equity/ Assets 9.6% 9.2% 9.3% 9.7% 7.8% Securities/ Assets 7.1% 7.1% 7.4% 7.5% 8.3%

Asset Quality Ratios: NPAs/ Assets NA NA 0.32% 1.60% 2.90% Reserve/ Loans 1.05% 1.04% 1.03% 1.06% 1.28% Reserve/ NPAs NA NA 247% 49% 33% NCOs/ Average Loans -0.01% -0.02% -0.01% 0.29% 0.26%

Annualized Growth Rates: Gross Loans HFI -4.4% 18.8% 11.3% 54.7% -12.0% Deposits -4.4% 18.8% 11.3% 54.7% -12.0% EPS 628.6% -445.2% -454.7% 13,538.5% 250.0%

Annual Snapshot 2014 2013 2012 2011 2010 Per Share Data: Diluted EPS $4.08 ($1.90) ($0.14) ($4.00) ($13.00) Core EPS $4.23 ($1.12) ($0.13) ($3.68) ($12.99) Book Value Per Share $14.87 $10.79 $12.88 $13.18 $17.51 Tangible Book Value Per Share $14.87 $10.79 $12.88 $13.17 $17.50 Dividend Per Share $0.00 $0.00 $0.00 $0.00 $0.00 Period End Stock Price $16.42 $10.40 $12.50 $17.50 $21.00 Average Diluted Shares (millions) 3.9 3.8 3.8 3.8 1.2 Shares Outstanding (millions) 4.0 3.9 3.8 3.8 3.8

Performance Ratios: ROA (Core) 2.91% -0.76% -0.08% -2.11% -1.89% ROE (Core) 34.2% -9.7% -1.0% -25.4% -37.9% NIM 3.37% 3.13% 2.91% 3.14% 2.91% Efficiency Ratio 90.5% 109.7% 114.6% 123.6% 121.1% Fee Income/ Operating Revenue 11.6% 12.4% 11.7% 10.4% 9.6% Effective Tax Rate NA NA NA NA NA Dividend Payout Ratio 0.0% NA NA NA NA

Balance Sheet Ratios: Loans/ Deposits 107.6% 98.5% 93.5% 93.7% 85.0% Loans/ Earning Assets 74.8% 77.5% 74.7% 75.7% 68.8% Tangible Equity/ Assets 9.3% 7.7% 8.0% 7.6% 8.6% Securities/ Assets 7.4% 8.8% 8.3% 11.4% 6.3%

Asset Quality Ratios: NPAs/ Assets 0.32% 2.46% 4.73% 5.94% 14.29% Reserve/ Loans 1.03% 1.34% 1.29% 1.84% 2.80% Reserve/ NPAs 247% 43% 21% 24% 14% NCOs/ Average Loans 0.18% 0.29% 0.20% 1.52% 1.32%

Annual Growth Rates: Gross Loans HFI 12.5% -8.8% -9.0% -7.1% -16.8% Deposits 3.0% -13.5% -8.7% -15.8% -15.0% EPS NM NM NM NM NM

3-Year EPS CAGR NM 5-Year EPS CAGR NM Note: All data as calculated by SNL Financial Source: SNL Financial

51 Peapack-Gladstone Financial Corporation NASDAQ: PGC - $21.09 SOP Analyst: Anna Barnard Peapack-Gladstone Financial Corporation Statistics: Market Cap: $328.8 million CEO: Douglas L. Kennedy Assets: $3,118 million CEO Age: 58 Employees: 327 Headquarters: Bedminster, NJ Full-Service Offices: 23 Primary Markets: NJ ------Key "Sm-All Stars" Stats------EPS Growth Loan Growth Deposit Growth ROAE Median 6.6% 9.2% 6.5% 7.9% PGC 24.8% 46.2% 25.9% 8.2%

NPAs 1 / Loans and OREO NCOs / Avg. Loans TCE / TA Median 1.0% < 0.25% > 7.0% PGC 0.3% 0.01% 8.2% Company Description Peapack-Gladstone Financial Corporation is a NJ bank holding company with total assets of $3.1 bil. Founded in 1921, Peapack-Gladstone Bank is a commercial bank that provides innovative private banking services to businesses, non-profits and consumers, which help them to establish, maintain and expand their legacy. Through its private banking locations in Bedminster, Morristown, Princeton and Teaneck, its wealth management division, and its branch network and online platforms, Peapack-Gladstone Bank offers an unparalleled commitment to client service.

Stock Price History LTM P/E History 2

Source: SNL Financial Source: SNL Financial

52-Week Range $17 - $23 Annual Dividend $0.20 3-Mo Avg. Daily Vol. 34,503 Yield 0.9% Stated Book Value $16.54 Price/Book 128% Tangible Book Value $16.32 Price/Tangible Book 129%

EOP Loans (as of 6/30/2015) EOP Deposits (as of 6/30/2015) Interest- Noninterest- Bearing CDs - Demand - Bearing Residential Brokered Demand Mortgage Multi-Family Brokered 4% 14% Interest- 17% 50% 11% Bearing CDs - Retail Checking 14% 25%

Home Equity Lines of Credit Money Savings 2% Commercial CRE Market 16% 14% 27% 5%

1 Accruing TDRs are excluded from NPAs 2 P/E multiples above 40x are excluded from chart

Source: Sandler O'Neill + Partners, L.P. and SNL Financial. 52 Peapack-Gladstone Financial Corporation PGC Quarterly Snapshot 0.26 2Q15 1Q15 4Q14 3Q14 2Q14 Per Share Data: Diluted EPS $0.34 $0.33 $0.32 $0.32 $0.32 Core EPS $0.33 $0.32 $0.32 $0.32 $0.32 Book Value Per Share $16.54 $16.15 $15.99 $15.31 $15.00 Tangible Book Value Per Share $16.32 $16.11 $15.95 $15.26 $14.96 Dividend Per Share $0.05 $0.05 $0.05 $0.05 $0.05 Period End Stock Price $22.22 $21.60 $18.56 $17.50 $21.21 Average Diluted Shares (millions) 15.2 15.1 13.2 12.0 11.8 Shares Outstanding (millions) 15.6 15.4 15.2 12.3 12.2

Performance Ratios: ROA (Core) 0.68% 0.68% 0.63% 0.62% 0.66% ROE (Core) 8.1% 7.8% 8.0% 8.3% 8.3% NIM 2.80% 2.88% 2.89% 2.89% 3.14% Efficiency Ratio 60.7% 62.0% 65.7% 66.3% 65.5% Fee Income/ Operating Revenue 23.7% 21.5% 22.2% 22.6% 23.8% Effective Tax Rate 37.5% 40.0% 38.2% 38.2% 40.1% Dividend Payout Ratio 14.7% 15.2% 15.6% 15.6% 15.6%

Balance Sheet Ratios: Loans/ Deposits 102.9% 96.8% 97.9% 92.6% 88.6% Loans/ Earning Assets 87.3% 84.4% 82.7% 80.6% 77.6% Tangible Equity/ Assets 8.2% 8.6% 8.9% 7.5% 7.6% Securities/ Assets 8.4% 10.0% 12.7% 11.1% 9.8%

Asset Quality Ratios: NPAs/ Assets 0.70% 0.73% 0.81% 0.91% 0.85% Reserve/ Loans 0.84% 0.85% 0.87% 0.90% 0.92% Reserve/ NPAs 106% 99% 89% 80% 85% NCOs/ Average Loans 0.01% 0.00% 0.01% 0.01% 0.11%

Annualized Growth Rates: Gross Loans HFI 49.1% 34.1% 41.1% 35.4% 25.3% Deposits 49.1% 34.1% 41.1% 35.4% 25.3% EPS 12.1% 12.5% 0.0% 0.0% 92.3%

Annual Snapshot 2014 2013 2012 2011 2010 Per Share Data: Diluted EPS $1.22 $1.01 $1.05 $1.25 $0.68 Core EPS $1.21 $0.95 $0.88 $1.14 $0.74 Book Value Per Share $15.99 $14.48 $13.69 $12.34 $11.03 Tangible Book Value Per Share $15.95 $14.43 $13.62 $12.28 $10.97 Dividend Per Share $0.20 $0.20 $0.20 $0.20 $0.20 Period End Stock Price $18.56 $19.10 $14.08 $10.75 $13.05 Average Diluted Shares (millions) 12.2 9.2 8.8 8.7 8.8 Shares Outstanding (millions) 15.2 11.8 8.9 8.8 8.8

Performance Ratios: ROA (Core) 0.63% 0.50% 0.52% 0.73% 0.55% ROE (Core) 7.9% 6.9% 7.1% 9.6% 7.1% NIM 3.01% 3.26% 3.50% 3.46% 3.64% Efficiency Ratio 66.6% 74.2% 67.0% 66.9% 65.8% Fee Income/ Operating Revenue 23.1% 27.2% 25.5% 24.0% 23.1% Effective Tax Rate 38.7% 37.3% 39.8% 13.0% 29.7% Dividend Payout Ratio 16.4% 19.8% 19.0% 16.0% 29.4%

Balance Sheet Ratios: Loans/ Deposits 97.9% 95.6% 74.7% 71.9% 69.0% Loans/ Earning Assets 82.7% 79.5% 68.6% 64.5% 61.4% Tangible Equity/ Assets 8.9% 8.7% 7.3% 7.7% 7.8% Securities/ Assets 12.7% 14.2% 18.5% 26.5% 27.9%

Asset Quality Ratios: NPAs/ Assets 0.81% 1.00% 1.30% 2.08% 1.85% Reserve/ Loans 0.87% 0.98% 1.10% 1.27% 1.53% Reserve/ NPAs 89% 78% 59% 40% 51% NCOs/ Average Loans 0.04% 0.06% 0.80% 0.86% 0.93%

Annual Growth Rates: Gross Loans HFI 42.9% 39.0% 9.1% 11.4% -4.8% Deposits 39.5% 8.6% 5.0% 6.8% 0.1% EPS 20.8% -3.8% -16.0% 83.8% 6.3%

3-Year EPS CAGR -0.8% 5-Year EPS CAGR 13.8% Note: All data as calculated by SNL Financial Source: SNL Financial

53 Pinnacle Financial Partners, Inc. NASDAQ: PNFP - $47.95 SOP Analyst: Stephen Scouten, CFA Pinnacle Financial Partners, Inc. Statistics: Market Cap: $1,789.4 million CEO: M. Terry Turner Assets: $6,517 million CEO Age: 60 Employees: 801 Headquarters: Nashville, TN Full-Service Offices: 34 Primary Markets: TN ------Key "Sm-All Stars" Stats------EPS Growth Loan Growth Deposit Growth ROAE Median 6.6% 9.2% 6.5% 7.9% PNFP 26.9% 11.9% 7.4% 10.1%

NPAs 1 / Loans and OREO NCOs / Avg. Loans TCE / TA Median 1.0% < 0.25% > 7.0% PNFP 0.5% 0.13% 9.5% Company Description The firm began operations in a single downtown Nashville location in October 2000 and has since grown to approximately $6.5 bil. in assets. At 6/30, Pinnacle is the 2nd-largest bank holding company headquartered in TN with 29 offices in 8 Middle TN counties and 5 offices in Knoxville. The firm expanded to West TN in April 2015 with a loan-production office in Memphis. Additionally, Great Place to Work® named Pinnacle one of the best workplaces in the US on its 2014 Best Small & Medium Workplaces list published in FORTUNE magazine. The American Banker also recognized Pinnacle as the 2nd best bank to work for in the country.

Stock Price History LTM P/E History 2

Source: SNL Financial Source: SNL Financial

52-Week Range $34 - $56 Annual Dividend $0.48 3-Mo Avg. Daily Vol. 169,873 Yield 1.0% Stated Book Value $23.39 Price/Book 205% Tangible Book Value $16.56 Price/Tangible Book 290%

EOP Loans (as of 6/30/2015) EOP Deposits (as of 6/30/2015)

CRE Noninterest- 34% Time 8% Bearing 30% Construction 8%

Other 6%

Savings & Interest- Money Bearing Market Cons. 21% C&I 41% Mortgage 37% 15%

1 Accruing TDRs are excluded from NPAs 2 P/E multiples above 40x are excluded from chart

Source: Sandler O'Neill + Partners, L.P. and SNL Financial. 54 Pinnacle Financial Partners, Inc. PNFP Quarterly Snapshot 0.47 2Q15 1Q15 4Q14 3Q14 2Q14 Per Share Data: Diluted EPS $0.64 $0.62 $0.53 $0.52 $0.49 Core EPS $0.56 $0.57 $0.53 $0.53 $0.50 Book Value Per Share $23.39 $22.98 $22.46 $21.93 $21.47 Tangible Book Value Per Share $16.56 $16.12 $15.57 $15.01 $14.53 Dividend Per Share $0.12 $0.12 $0.08 $0.08 $0.08 Period End Stock Price $54.37 $44.46 $39.54 $36.10 $39.48 Average Diluted Shares (millions) 35.6 35.4 35.3 35.2 35.1 Shares Outstanding (millions) 36.0 35.9 35.7 35.7 35.6

Performance Ratios: ROA (Core) 1.25% 1.30% 1.28% 1.28% 1.22% ROE (Core) 9.4% 9.8% 9.4% 9.5% 9.2% NIM 3.60% 3.67% 3.74% 3.76% 3.64% Efficiency Ratio 54.6% 54.4% 54.0% 53.6% 55.9% Fee Income/ Operating Revenue 22.7% 23.0% 21.9% 20.2% 21.1% Effective Tax Rate 33.2% 33.0% 33.7% 33.1% 33.1% Dividend Payout Ratio 18.8% 19.4% 15.1% 15.4% 16.3%

Balance Sheet Ratios: Loans/ Deposits 96.7% 97.0% 96.0% 94.8% 92.8% Loans/ Earning Assets 73.9% 73.2% 75.7% 74.9% 74.1% Tangible Equity/ Assets 9.5% 9.5% 9.6% 9.5% 9.3% Securities/ Assets NA NA 13.4% 13.4% 14.1%

Asset Quality Ratios: NPAs/ Assets 0.51% 0.56% 0.60% 0.72% 0.63% Reserve/ Loans 1.35% 1.42% 1.46% 1.49% 1.54% Reserve/ NPAs 198% 186% 186% 157% 184% NCOs/ Average Loans 0.16% 0.12% 0.08% 0.14% 0.08%

Annualized Growth Rates: Gross Loans HFI 15.9% 4.8% 15.3% 9.8% 12.8% Deposits 15.9% 4.8% 15.3% 9.8% 12.8% EPS 12.9% 67.9% 7.7% 24.5% 17.0%

Annual Snapshot 2014 2013 2012 2011 2010 Per Share Data: Diluted EPS $2.01 $1.67 $1.10 $1.09 ($0.93) Core EPS $2.02 $1.74 $1.15 $1.12 ($0.93) Book Value Per Share $22.46 $20.55 $19.57 $18.66 $17.32 Tangible Book Value Per Share $15.57 $13.52 $12.39 $11.33 $9.80 Dividend Per Share $0.32 $0.08 $0.00 $0.00 $0.00 Period End Stock Price $39.54 $32.53 $18.84 $16.15 $13.58 Average Diluted Shares (millions) 35.1 34.5 34.5 34.1 32.8 Shares Outstanding (millions) 35.7 35.2 34.7 34.4 33.9

Performance Ratios: ROA (Core) 1.24% 1.15% 0.90% 0.93% -0.49% ROE (Core) 9.2% 8.5% 6.3% 6.4% -3.5% NIM 3.70% 3.71% 3.71% 3.48% 3.18% Efficiency Ratio 54.8% 55.3% 59.6% 63.2% 64.6% Fee Income/ Operating Revenue 21.2% 21.6% 20.2% 19.5% 18.7% Effective Tax Rate 33.3% 32.8% 33.0% -53.5% NA Dividend Payout Ratio 15.9% 4.8% 0.0% 0.0% NA

Balance Sheet Ratios: Loans/ Deposits 96.0% 91.4% 92.5% 90.1% 83.8% Loans/ Earning Assets 75.7% 73.8% 73.5% 67.4% 64.7% Tangible Equity/ Assets 9.6% 9.0% 9.0% 9.9% 9.1% Securities/ Assets 13.4% 13.8% 14.6% 19.4% 21.6%

Asset Quality Ratios: NPAs/ Assets 0.60% 0.96% 1.37% 2.28% 3.29% Reserve/ Loans 1.46% 1.63% 1.85% 2.22% 2.56% Reserve/ NPAs 186% 127% 101% 67% 51% NCOs/ Average Loans 0.10% 0.24% 0.29% 0.94% 1.88%

Annual Growth Rates: Gross Loans HFI 10.8% 11.6% 12.8% 2.5% -9.8% Deposits 5.5% 12.9% 9.9% -4.7% 0.2% EPS 20.4% 51.8% 0.9% NM NM

3-Year EPS CAGR 22.6% 5-Year EPS CAGR NM Note: All data as calculated by SNL Financial Source: SNL Financial

55 Preferred Bank NASDAQ: PFBC - $30.92 SOP Analyst: Aaron Deer Preferred Bank Statistics: Market Cap: $425.7 million CEO: Li Yu Assets: $2,170 million CEO Age: 74 Employees: 166 Headquarters: Los Angeles, CA Full-Service Offices: 12 Primary Markets: CA ------Key "Sm-All Stars" Stats------EPS Growth Loan Growth Deposit Growth ROAE Median 6.6% 9.2% 6.5% 7.9% PFBC 22.1% 21.7% 14.1% 11.5%

NPAs 1 / Loans and OREO NCOs / Avg. Loans TCE / TA Median 1.0% < 0.25% > 7.0% PFBC 0.5% -0.24% 11.5% Company Description As one of the larger independent commercial banks in CA, the Company conducts its banking business from its main office in Los Angeles, CA, and through 11 full-service branch banking offices in Alhambra, Century City, City of Industry, Torrance, Arcadia, Irvine, Diamond Bar, Anaheim, Pico Rivera, Tarzana and San Francisco. Preferred Bank offers a broad range of deposit and loan products and services to both commercial and consumer customers. Although originally founded as a Chinese-American Bank, Preferred Bank now derives most of its customers from the diversified mainstream market but does continue to benefit from the significant migration to CA of ethnic Chinese from China and other areas of East Asia.

Stock Price History LTM P/E History 2

Source: SNL Financial Source: SNL Financial

52-Week Range $22 - $33 Annual Dividend $0.48 3-Mo Avg. Daily Vol. 37,889 Yield 1.6% Stated Book Value $18.16 Price/Book 170% Tangible Book Value $18.16 Price/Tangible Book 170%

EOP Loans (as of 6/30/2015) EOP Deposits (as of 6/30/2015) Real Estate Real Estate Mini-Perm - Noninterest- Mini-Perm - Commercial Bearing Other Time Residential 41% 28% 27% 17%

Real Estate Construction Trade - Residential Finance 4% 2% Real Estate Time > Interest- Construction $250k Bearing C&I Savings - Commercial 14% Demand 33% 1% 3% 30%

1 Accruing TDRs are excluded from NPAs 2 P/E multiples above 40x are excluded from chart

Source: Sandler O'Neill + Partners, L.P. and SNL Financial. 56 Preferred Bank PFBC Quarterly Snapshot 0.38 2Q15 1Q15 4Q14 3Q14 2Q14 Per Share Data: Diluted EPS $0.55 $0.48 $0.50 $0.46 $0.45 Core EPS $0.55 $0.48 $0.50 $0.46 $0.45 Book Value Per Share $18.16 $17.77 $17.40 $16.97 $16.56 Tangible Book Value Per Share $18.16 $17.77 $17.40 $16.97 $16.56 Dividend Per Share $0.12 $0.12 $0.10 $0.10 $0.00 Period End Stock Price $30.05 $27.47 $27.89 $22.52 $23.64 Average Diluted Shares (millions) 13.7 13.8 13.7 13.6 13.6 Shares Outstanding (millions) 13.8 13.7 13.5 13.5 13.4

Performance Ratios: ROA (Core) 1.43% 1.27% 1.38% 1.30% 1.39% ROE (Core) 12.2% 11.1% 11.6% 11.2% 11.4% NIM 4.00% 3.78% 4.02% 3.81% 3.92% Efficiency Ratio 41.2% 41.9% 39.8% 40.8% 42.9% Fee Income/ Operating Revenue 5.2% 4.3% 3.7% 4.9% 5.1% Effective Tax Rate 40.4% 39.8% 40.3% 40.1% 39.5% Dividend Payout Ratio 21.8% 25.0% 20.0% 21.7% 0.0%

Balance Sheet Ratios: Loans/ Deposits 92.8% 89.9% 90.2% 88.5% 87.0% Loans/ Earning Assets 79.7% 77.2% 77.1% 75.4% 75.0% Tangible Equity/ Assets 11.5% 11.4% 11.4% 11.5% 11.7% Securities/ Assets 8.1% 8.4% 8.0% 8.9% 10.1%

Asset Quality Ratios: NPAs/ Assets 0.37% 0.79% 0.84% 0.56% 1.09% Reserve/ Loans 1.36% 1.40% 1.43% 1.49% 1.24% Reserve/ NPAs 299% 138% 133% 203% 86% NCOs/ Average Loans 0.03% 0.02% 0.05% -1.17% 0.86%

Annualized Growth Rates: Gross Loans HFI 18.9% 16.7% 20.9% 24.2% 19.7% Deposits 18.9% 16.7% 20.9% 24.2% 19.7% EPS 58.3% -16.0% 34.8% 8.9% 73.7%

Annual Snapshot 2014 2013 2012 2011 2010 Per Share Data: Diluted EPS $1.78 $1.42 $1.78 $0.93 ($6.21) Core EPS $1.78 $1.52 $1.75 $0.93 ($2.44) Book Value Per Share $17.40 $15.58 $14.19 $11.95 $10.72 Tangible Book Value Per Share $17.40 $15.58 $14.19 $11.95 $10.72 Dividend Per Share $0.20 $0.00 $0.00 $0.00 $0.00 Period End Stock Price $27.89 $20.05 $14.20 $7.45 $8.80 Average Diluted Shares (millions) 13.6 13.4 13.2 13.0 6.8 Shares Outstanding (millions) 13.5 13.3 13.2 13.2 13.2

Performance Ratios: ROA (Core) 1.31% 1.25% 1.65% 0.99% -1.23% ROE (Core) 11.0% 10.4% 13.2% 8.2% -13.0% NIM 3.89% 3.95% 3.96% 3.69% 2.98% Efficiency Ratio 42.0% 45.3% 44.7% 53.6% 68.8% Fee Income/ Operating Revenue 4.9% 6.0% 5.2% 5.9% 7.1% Effective Tax Rate 39.8% 39.7% NA -70.3% NA Dividend Payout Ratio 11.2% 0.0% 0.0% 0.0% NA

Balance Sheet Ratios: Loans/ Deposits 90.2% 86.4% 82.3% 84.9% 84.4% Loans/ Earning Assets 77.1% 74.2% 71.7% 71.4% 71.0% Tangible Equity/ Assets 11.4% 11.7% 12.1% 12.1% 11.3% Securities/ Assets 8.0% 8.4% 13.9% 13.2% 14.9%

Asset Quality Ratios: NPAs/ Assets 0.84% 1.13% 3.55% 7.72% 13.53% Reserve/ Loans 1.43% 1.47% 1.82% 2.49% 3.59% Reserve/ NPAs 133% 97% 37% 23% 19% NCOs/ Average Loans -0.01% 0.36% 2.25% 1.65% 2.71%

Annual Growth Rates: Gross Loans HFI 21.3% 18.2% 17.8% 3.9% -12.5% Deposits 16.1% 12.7% 21.4% 3.4% -6.8% EPS 25.4% -20.2% 91.4% NM NM

3-Year EPS CAGR 24.2% 5-Year EPS CAGR NM Note: All data as calculated by SNL Financial Source: SNL Financial

57 S&T Bancorp, Inc. NASDAQ: STBA - $31.63 S&T Bancorp, Inc. Statistics: Market Cap: $1,101.1 million CEO: Todd D. Brice Assets: $6,134 million CEO Age: 52 Employees: 1,071 Headquarters: Indiana, PA Full-Service Offices: 64 Primary Markets: PA ------Key "Sm-All Stars" Stats------EPS Growth Loan Growth Deposit Growth ROAE Median 6.6% 9.2% 6.5% 7.9% STBA 7.9% 28.8% 25.7% 9.1%

NPAs 1 / Loans and OREO NCOs / Avg. Loans TCE / TA Median 1.0% < 0.25% > 7.0% STBA 0.4% 0.09% 8.1% Company Description S&T Bancorp, Inc. is a $6.1 billion bank holding company that is headquartered in Indiana, PA. Its principal subsidiary, S&T Bank, was established in 1902 and operates in 16 counties across southwestern and southcentral PA, with loan production offices in northeast and central OH, and western NY.

Stock Price History LTM P/E History 2

Source: SNL Financial Source: SNL Financial

52-Week Range $23 - $33 Annual Dividend $0.72 3-Mo Avg. Daily Vol. 117,365 Yield 2.3% Stated Book Value $22.15 Price/Book 143% Tangible Book Value $13.57 Price/Tangible Book 233%

EOP Loans (as of 6/30/2015) EOP Deposits (as of 6/30/2015) Noninterest- CRE Bearing Installment & 43% Brokered Demand Other 8% 24% Consumer CDs 2% 23%

C&I Interest- 26% Bearing Home Equity Demand Savings 10% Money 14% Residential Commercial 23% Mortgage Construction Market 12% 7% 8%

1 Accruing TDRs are excluded from NPAs 2 P/E multiples above 40x are excluded from chart

Source: Sandler O'Neill + Partners, L.P. and SNL Financial. 58 S&T Bancorp, Inc. STBA Quarterly Snapshot 0.47 2Q15 1Q15 4Q14 3Q14 2Q14 Per Share Data: Diluted EPS $0.52 $0.41 $0.49 $0.49 $0.49 Core EPS $0.55 $0.47 $0.51 $0.50 $0.50 Book Value Per Share $22.15 $21.91 $20.42 $20.33 $20.04 Tangible Book Value Per Share $13.57 $13.32 $14.43 $14.34 $14.04 Dividend Per Share $0.18 $0.18 $0.18 $0.17 $0.17 Period End Stock Price $29.59 $28.38 $29.81 $23.46 $24.85 Average Diluted Shares (millions) 34.7 31.3 29.7 29.7 29.7 Shares Outstanding (millions) 34.8 34.8 29.8 29.8 29.8

Performance Ratios: ROA (Core) 1.27% 1.10% 1.22% 1.24% 1.27% ROE (Core) 10.0% 8.8% 9.9% 9.9% 10.1% NIM 3.66% 3.43% 3.46% 3.52% 3.55% Efficiency Ratio 53.5% 57.6% 56.8% 55.4% 59.8% Fee Income/ Operating Revenue 21.6% 23.1% 22.8% 24.1% 24.1% Effective Tax Rate 26.3% 26.7% 21.5% 25.1% 24.9% Dividend Payout Ratio 34.6% 43.9% 36.7% 34.7% 34.7%

Balance Sheet Ratios: Loans/ Deposits 98.7% 97.0% 99.0% 97.4% 96.4% Loans/ Earning Assets 77.8% 77.9% 77.2% 76.8% 77.1% Tangible Equity/ Assets 8.1% 8.2% 9.0% 9.0% 9.1% Securities/ Assets 11.5% 11.5% 13.5% 13.2% 12.9%

Asset Quality Ratios: NPAs/ Assets 0.86% 0.94% 1.00% 1.04% 1.10% Reserve/ Loans 1.01% 1.03% 1.24% 1.24% 1.25% Reserve/ NPAs 93% 86% 97% 93% 89% NCOs/ Average Loans 0.11% 0.10% 0.05% 0.08% -0.12%

Annualized Growth Rates: Gross Loans HFI 9.8% 84.3% 7.1% 8.2% 10.7% Deposits 9.8% 84.3% 7.1% 8.2% 10.7% EPS 107.3% -65.3% 0.0% 0.0% 17.0%

Annual Snapshot 2014 2013 2012 2011 2010 Per Share Data: Diluted EPS $1.95 $1.70 $1.18 $1.41 $1.34 Core EPS $1.99 $1.69 $1.28 $1.52 $1.43 Book Value Per Share $20.42 $19.21 $18.08 $17.44 $16.91 Tangible Book Value Per Share $14.43 $13.17 $11.98 $11.36 $10.73 Dividend Per Share $0.68 $0.61 $0.60 $0.60 $0.60 Period End Stock Price $29.81 $25.31 $18.07 $19.55 $22.59 Average Diluted Shares (millions) 29.7 29.7 29.0 28.0 27.8 Shares Outstanding (millions) 29.8 29.7 29.7 28.1 28.0

Performance Ratios: ROA (Core) 1.24% 1.12% 0.86% 1.20% 1.12% ROE (Core) 9.9% 9.2% 7.2% 8.3% 8.1% NIM 3.50% 3.50% 3.57% 3.83% 4.05% Efficiency Ratio 57.6% 59.3% 60.1% 54.0% 50.4% Fee Income/ Operating Revenue 23.8% 25.8% 26.4% 24.3% 24.3% Effective Tax Rate 23.2% 22.3% 17.5% 23.6% 24.9% Dividend Payout Ratio 34.9% 35.9% 50.8% 42.6% 44.8%

Balance Sheet Ratios: Loans/ Deposits 99.0% 97.1% 92.0% 93.8% 101.1% Loans/ Earning Assets 77.2% 77.9% 73.7% 75.1% 80.8% Tangible Equity/ Assets 9.0% 9.0% 8.2% 8.1% 10.3% Securities/ Assets 13.5% 11.8% 10.4% 9.4% 7.8%

Asset Quality Ratios: NPAs/ Assets 1.00% 1.37% 2.15% 2.67% 1.75% Reserve/ Loans 1.24% 1.30% 1.38% 1.56% 1.53% Reserve/ NPAs 97% 74% 48% 44% 72% NCOs/ Average Loans 0.00% 0.25% 0.78% 0.56% 1.11%

Annual Growth Rates: Gross Loans HFI 8.5% 6.6% 6.9% -6.7% -1.3% Deposits 6.4% 0.9% 9.1% 0.6% 0.4% EPS 14.7% 44.1% -16.3% 5.2% NM

3-Year EPS CAGR 11.4% 5-Year EPS CAGR 94.5% Note: All data as calculated by SNL Financial Source: SNL Financial

59 ServisFirst Bancshares, Inc. NASDAQ: SFBS - $41.42 SOP Analyst: Brad Milsaps, CFA ServisFirst Bancshares, Inc. Statistics: Market Cap: $1,072.6 million CEO: Thomas Ashford Broughton III Assets: $4,493 million CEO Age: 60 Employees: 371 Headquarters: Birmingham, AL Full-Service Offices: 16 Primary Markets: AL, GA, FL, SC, TN ------Key "Sm-All Stars" Stats------EPS Growth Loan Growth Deposit Growth ROAE Median 6.6% 9.2% 6.5% 7.9% SFBS 8.4% 26.5% 18.1% 13.6%

NPAs 1 / Loans and OREO NCOs / Avg. Loans TCE / TA Median 1.0% < 0.25% > 7.0% SFBS 0.4% 0.15% 8.9% Company Description ServisFirst Bancshares, Inc. is a bank holding company based in Birmingham, AL. Through its subsidiary ServisFirst Bank, ServisFirst Bancshares, Inc. provides business and personal financial services from locations in Birmingham, Huntsville, Montgomery, Mobile and Dothan, AL, Pensacola, FL, Atlanta, GA, Charleston, SC and Nashville, TN.

Stock Price History LTM P/E History 2

Source: SNL Financial Source: SNL Financial

52-Week Range $25 - $43 Annual Dividend $0.24 3-Mo Avg. Daily Vol. 144,737 Yield 0.6% Stated Book Value $16.04 Price/Book 258% Tangible Book Value $15.34 Price/Tangible Book 270%

EOP Loans (as of 6/30/2015) EOP Deposits (as of 6/30/2015)

Construction C&I Real Estate 43% Noninterest- 6% Bearing 25%

CDs 13% Owner- NOW, Non Owner- Money Consumer Occupied Occupied Market & Mortgage CRE CRE Savings 10% 24% 16% 62%

1 Accruing TDRs are excluded from NPAs 2 P/E multiples above 40x are excluded from chart

Source: Sandler O'Neill + Partners, L.P. and SNL Financial. 60 ServisFirst Bancshares, Inc. SFBS Quarterly Snapshot 0.51 2Q15 1Q15 4Q14 3Q14 2Q14 Per Share Data: Diluted EPS $0.54 $0.49 $0.58 $0.54 $0.46 Core EPS $0.54 $0.54 $0.58 $0.54 $0.46 Book Value Per Share $16.04 $15.64 $14.80 $14.24 $13.73 Tangible Book Value Per Share $15.34 $14.93 $14.80 $14.24 $13.73 Dividend Per Share $0.06 $0.06 $0.05 $0.05 $0.05 Period End Stock Price $37.57 $32.99 $32.95 $28.80 $28.81 Average Diluted Shares (millions) 26.4 26.2 25.7 25.7 24.8 Shares Outstanding (millions) 25.8 25.7 24.8 24.8 24.7

Performance Ratios: ROA (Core) 1.32% 1.37% 1.48% 1.47% 1.27% ROE (Core) 13.0% 13.6% 15.0% 14.5% 13.4% NIM 3.87% 3.75% 3.61% 3.68% 3.72% Efficiency Ratio 40.1% 40.6% 32.9% 40.9% 42.6% Fee Income/ Operating Revenue 8.1% 7.6% 8.4% 8.5% 8.7% Effective Tax Rate 32.5% 31.1% 30.6% 23.3% 32.1% Dividend Payout Ratio 11.1% 12.2% 8.6% 9.3% 10.9%

Balance Sheet Ratios: Loans/ Deposits 103.6% 99.2% 98.9% 94.2% 96.7% Loans/ Earning Assets 85.5% 81.7% 81.4% 79.5% 80.8% Tangible Equity/ Assets 9.8% 9.7% 9.9% 9.9% 10.1% Securities/ Assets 7.6% 7.8% 8.1% 8.5% 8.7%

Asset Quality Ratios: NPAs/ Assets 0.55% 0.58% 0.59% 0.63% 0.72% Reserve/ Loans 1.03% 1.03% 1.06% 1.09% 1.08% Reserve/ NPAs 162% 148% 147% 137% 122% NCOs/ Average Loans 0.15% 0.08% 0.19% 0.17% 0.16%

Annualized Growth Rates: Gross Loans HFI 28.4% 29.5% 25.3% 13.9% 15.8% Deposits 28.4% 29.5% 25.3% 13.9% 15.8% EPS 40.8% -62.1% 29.6% 69.6% -36.8%

Annual Snapshot 2014 2013 2012 2011 2010 Per Share Data: Diluted EPS $2.09 $1.90 $1.66 $1.18 $0.95 Core EPS $2.09 $1.89 $1.66 $1.16 $0.94 Book Value Per Share $14.80 $11.67 $10.28 $8.78 $7.06 Tangible Book Value Per Share $14.80 $11.67 $10.28 $8.78 $7.06 Dividend Per Share $0.15 $0.22 $0.17 NA $0.00 Period End Stock Price $32.95 NA NA NA NA Average Diluted Shares (millions) 24.8 21.8 20.8 20.2 18.9 Shares Outstanding (millions) 24.8 22.1 18.8 17.8 16.6

Performance Ratios: ROA (Core) 1.39% 1.32% 1.31% 1.10% 1.03% ROE (Core) 14.6% 15.6% 16.0% 14.6% 15.8% NIM 3.68% 3.80% 3.80% 3.79% 3.94% Efficiency Ratio 38.9% 37.1% 38.3% 44.2% 41.9% Fee Income/ Operating Revenue 8.2% 8.2% 9.4% 7.6% 7.7% Effective Tax Rate 29.2% 32.8% 33.2% 34.6% 35.0% Dividend Payout Ratio 7.2% 11.4% 10.0% NA 0.0%

Balance Sheet Ratios: Loans/ Deposits 98.9% 94.7% 94.1% 85.4% 79.3% Loans/ Earning Assets 81.4% 80.7% 81.5% 74.5% 71.8% Tangible Equity/ Assets 9.9% 8.4% 8.0% 8.0% 6.1% Securities/ Assets 8.1% 8.6% 9.1% 12.7% 14.8%

Asset Quality Ratios: NPAs/ Assets 0.59% 0.91% 1.02% 1.24% 1.23% Reserve/ Loans 1.06% 1.07% 1.10% 1.19% 1.29% Reserve/ NPAs 147% 95% 89% 72% 76% NCOs/ Average Loans 0.17% 0.33% 0.24% 0.32% 0.54%

Annual Growth Rates: Gross Loans HFI 17.5% 21.0% 29.1% 31.3% 15.6% Deposits 12.5% 20.2% 17.2% 21.9% 22.8% EPS 10.2% 14.0% 41.4% 24.3% 178.4%

3-Year EPS CAGR 21.1% 5-Year EPS CAGR 43.8% Note: All data as calculated by SNL Financial Source: SNL Financial

61 Southern First Bancshares, Inc. NASDAQ: SFST - $19.71 SOP Analyst: Casey Orr Southern First Bancshares, Inc. Statistics: Market Cap: $122.9 million CEO: R. Arthur Seaver Jr. Assets: $1,119 million CEO Age: 51 Employees: 169 Headquarters: Greenville, SC Full-Service Offices: 9 Primary Markets: SC ------Key "Sm-All Stars" Stats------EPS Growth Loan Growth Deposit Growth ROAE Median 6.6% 9.2% 6.5% 7.9% SFST 28.4% 18.5% 19.7% 10.2%

NPAs 1 / Loans and OREO NCOs / Avg. Loans TCE / TA Median 1.0% < 0.25% > 7.0% SFST 1.0% 0.23% 7.8% Company Description Southern First Bancshares, Inc., Greenville, SC is a registered bank holding company incorporated under the laws of SC. The Company consists of Southern First Bank, the 5th largest bank headquartered in SC. Southern First Bancshares has been providing financial services since 1999 and now operates in 9 locations in the Greenville, Columbia, and Charleston markets of SC.

Stock Price History LTM P/E History 2

Source: SNL Financial Source: SNL Financial

52-Week Range $14 - $21 Annual Dividend $0.00 3-Mo Avg. Daily Vol. 8,296 Yield 0.0% Stated Book Value $14.06 Price/Book 140% Tangible Book Value $14.06 Price/Tangible Book 140%

EOP Loans (as of 6/30/2015) EOP Deposits (as of 6/30/2015) Non Owner- Owner- Occupied Time & Out- Occupied Noninterest- CRE of-Market > CRE $100k Bearing 22% Commercial Other 24% 26% 18% Consumer Construction 2% 3% Time < $100k 7% NOW 20% Commercial Consumer Business Construction 17% Savings 4% Home Equity Consumer 1% Money 11% Real Estate Market 17% 28%

1 Accruing TDRs are excluded from NPAs 2 P/E multiples above 40x are excluded from chart

Source: Sandler O'Neill + Partners, L.P. and SNL Financial. 62 Southern First Bancshares, Inc. SFST Quarterly Snapshot 0.22 2Q15 1Q15 4Q14 3Q14 2Q14 Per Share Data: Diluted EPS $0.39 $0.31 $0.30 $0.31 $0.26 Core EPS $0.39 $0.28 $0.30 $0.31 $0.26 Book Value Per Share $14.06 $13.70 $13.34 $12.91 $12.56 Tangible Book Value Per Share $14.06 $13.70 $13.34 $12.91 $12.56 Dividend Per Share $0.00 $0.00 $0.00 $0.00 $0.00 Period End Stock Price $17.90 $17.00 $17.02 $13.94 $13.46 Average Diluted Shares (millions) 6.5 6.5 5.8 5.0 5.0 Shares Outstanding (millions) 6.2 6.2 6.2 4.8 4.8

Performance Ratios: ROA (Core) 0.94% 0.71% 0.79% 0.75% 0.67% ROE (Core) 11.6% 8.7% 9.5% 9.9% 8.8% NIM 3.72% 3.67% 3.75% 3.69% 3.65% Efficiency Ratio 56.3% 60.8% 58.3% 59.2% 64.1% Fee Income/ Operating Revenue 18.0% 17.2% 16.4% 15.5% 13.8% Effective Tax Rate 35.4% 35.1% 31.9% 31.4% 32.6% Dividend Payout Ratio 0.0% 0.0% 0.0% 0.0% 0.0%

Balance Sheet Ratios: Loans/ Deposits 107.7% 106.9% 110.5% 107.8% 108.8% Loans/ Earning Assets 86.2% 85.2% 84.8% 82.7% 83.8% Tangible Equity/ Assets 7.8% 8.0% 8.1% 7.3% 7.4% Securities/ Assets 5.1% 5.0% 6.0% 6.3% 6.7%

Asset Quality Ratios: NPAs/ Assets 1.58% 1.63% 1.80% 1.86% 2.07% Reserve/ Loans 1.32% 1.32% 1.33% 1.34% 1.35% Reserve/ NPAs 73% 70% 63% 60% 55% NCOs/ Average Loans 0.13% 0.06% 0.21% 0.54% 0.28%

Annualized Growth Rates: Gross Loans HFI 23.8% 17.4% 18.6% 9.8% 19.1% Deposits 23.8% 17.4% 18.6% 9.8% 19.1% EPS 103.2% 13.3% -12.9% 76.9% 72.7%

Annual Snapshot 2014 2013 2012 2011 2010 Per Share Data: Diluted EPS $1.10 $0.98 $0.64 $0.22 ($0.06) Core EPS $1.10 $0.98 $0.56 $0.22 ($0.18) Book Value Per Share $13.34 $11.66 $11.26 $10.93 $10.25 Tangible Book Value Per Share $13.34 $11.66 $11.26 $10.93 $10.25 Dividend Per Share $0.00 $0.00 $0.00 $0.00 $0.00 Period End Stock Price $17.02 $13.28 $8.45 $5.91 $5.60 Average Diluted Shares (millions) 5.2 4.5 4.3 4.3 4.2 Shares Outstanding (millions) 6.2 4.3 4.2 4.2 4.2

Performance Ratios: ROA (Core) 0.69% 0.61% 0.47% 0.28% 0.06% ROE (Core) 8.9% 7.9% 5.7% 3.4% 0.7% NIM 3.68% 3.71% 3.61% 3.30% 2.91% Efficiency Ratio 61.7% 65.1% 62.5% 64.2% 70.0% Fee Income/ Operating Revenue 14.4% 11.6% 11.6% 10.7% 10.3% Effective Tax Rate 32.0% 32.1% 32.2% 28.5% 17.8% Dividend Payout Ratio 0.0% 0.0% 0.0% 0.0% NA

Balance Sheet Ratios: Loans/ Deposits 110.5% 107.8% 111.7% 106.3% 106.7% Loans/ Earning Assets 84.8% 81.8% 80.0% 77.1% 76.8% Tangible Equity/ Assets 8.1% 7.4% 8.0% 8.1% 8.0% Securities/ Assets 6.0% 8.2% 10.8% 14.1% 9.8%

Asset Quality Ratios: NPAs/ Assets 1.80% 1.97% 2.42% 2.78% 2.03% Reserve/ Loans 1.33% 1.39% 1.41% 1.49% 1.47% Reserve/ NPAs 63% 58% 47% 42% 56% NCOs/ Average Loans 0.33% 0.34% 0.71% 0.81% 0.86%

Annual Growth Rates: Gross Loans HFI 18.8% 13.9% 7.6% 4.6% -0.3% Deposits 16.0% 18.0% 2.4% 5.0% 8.5% EPS 12.2% 53.1% 190.9% NM NM

3-Year EPS CAGR 71.0% 5-Year EPS CAGR 76.8% Note: All data as calculated by SNL Financial Source: SNL Financial

63 Southern Missouri Bancorp, Inc. NASDAQ: SMBC - $20.91 SOP Analyst: Andrew Liesch, CFA Southern Missouri Bancorp, Inc. Statistics: Market Cap: $155.2 million CEO: Greg A. Steffens Assets: $1,300 million CEO Age: 48 Employees: 318 Headquarters: Poplar Bluff, MO Full-Service Offices: 32 Primary Markets: MO, AR ------Key "Sm-All Stars" Stats------EPS Growth Loan Growth Deposit Growth ROAE Median 6.6% 9.2% 6.5% 7.9% SMBC 23.4% 31.6% 34.3% 10.7%

NPAs 1 / Loans and OREO NCOs / Avg. Loans TCE / TA Median 1.0% < 0.25% > 7.0% SMBC 0.8% 0.01% 8.1% Company Description Southern Missouri Bancorp, Inc. is a bank holding company headquartered in Poplar Bluff, MO, with roots going back to 1887. Its operating subsidiary, Southern Bank, has $1.3 bil. in assets and operates 32 branches located throughout Southern MO and Northeastern and North Central AR.

Stock Price History LTM P/E History 2

Source: SNL Financial Source: SNL Financial

52-Week Range $18 - $22 Annual Dividend $0.36 3-Mo Avg. Daily Vol. 4,059 Yield 1.7% Stated Book Value $15.18 Price/Book 138% Tangible Book Value $14.02 Price/Tangible Book 149%

EOP Loans (as of 6/30/2015) EOP Deposits (as of 6/30/2015)

Residential Construction Noninterest- Real Estate Real Estate Bearing 35% 6% Fixed-Rate 11% CDs NOW 38% 32%

Commercial CRE Money 18% Consumer 37% Market 4% 6% Savings 13%

1 Accruing TDRs are excluded from NPAs 2 P/E multiples above 40x are excluded from chart

Source: Sandler O'Neill + Partners, L.P. and SNL Financial. 64 Southern Missouri Bancorp, Inc. SMBC Quarterly Snapshot 0.32 2Q15 1Q15 4Q14 3Q14 2Q14 Per Share Data: Diluted EPS $0.47 $0.44 $0.45 $0.45 $0.39 Core EPS $0.51 $0.47 $0.50 $0.48 $0.42 Book Value Per Share $15.18 $15.24 $14.83 $14.39 $13.64 Tangible Book Value Per Share $14.02 $14.03 $13.59 $13.10 $13.05 Dividend Per Share $0.09 $0.09 $0.09 $0.09 $0.08 Period End Stock Price $18.85 $18.87 $18.99 $17.94 $17.85 Average Diluted Shares (millions) 7.5 7.6 7.6 7.3 6.9 Shares Outstanding (millions) 7.4 7.4 7.4 7.4 6.7

Performance Ratios: ROA (Core) 1.20% 1.11% 1.20% 1.18% 1.19% ROE (Core) 11.7% 10.9% 12.1% 12.0% 10.9% NIM 3.85% 3.89% 4.03% 3.93% 3.79% Efficiency Ratio 53.8% 56.0% 55.1% 54.8% 55.7% Fee Income/ Operating Revenue 17.5% 15.2% 15.2% 15.2% 16.3% Effective Tax Rate 32.5% 30.8% 29.8% 29.5% 26.3% Dividend Payout Ratio 18.1% 19.3% 19.1% 19.1% 20.5%

Balance Sheet Ratios: Loans/ Deposits 100.9% 100.3% 96.4% 100.7% 103.0% Loans/ Earning Assets 81.2% 80.7% 78.4% 78.6% 78.6% Tangible Equity/ Assets 9.6% 9.6% 9.4% 9.0% 10.5% Securities/ Assets 10.5% 10.8% 11.7% 12.6% 13.3%

Asset Quality Ratios: NPAs/ Assets 1.14% 0.93% 0.95% 1.21% 0.91% Reserve/ Loans 1.15% 1.11% 1.07% 0.98% 1.14% Reserve/ NPAs 83% 97% 89% 64% 100% NCOs/ Average Loans 0.04% 0.02% 0.01% -0.01% 0.01%

Annualized Growth Rates: Gross Loans HFI 1.7% 13.8% -1.5% 108.6% 17.9% Deposits 1.7% 13.8% -1.5% 108.6% 17.9% EPS 27.3% -4.5% 0.0% 56.4% 87.5%

Annual Snapshot 2014 2013 2012 2011 2010 Per Share Data: Diluted EPS $1.45 $1.44 $1.66 $2.56 $0.98 Core EPS $1.66 $1.49 $1.72 $1.62 $1.02 Book Value Per Share $13.64 $12.42 $11.49 $11.02 $8.68 Tangible Book Value Per Share $13.05 $12.26 $11.27 $10.58 $8.29 Dividend Per Share $0.32 $0.30 $0.24 $0.24 $0.24 Period End Stock Price $17.85 $12.84 $10.75 $10.39 $7.51 Average Diluted Shares (millions) 6.8 6.8 5.8 4.3 4.2 Shares Outstanding (millions) 6.7 6.6 6.5 4.2 4.2

Performance Ratios: ROA (Core) 1.24% 1.36% 1.40% 1.18% 0.91% ROE (Core) 10.9% 10.5% 12.6% 14.9% 10.9% NIM 3.81% 4.02% 4.12% 3.92% 3.27% Efficiency Ratio 54.7% 51.1% 49.0% 50.0% 61.9% Fee Income/ Operating Revenue 15.5% 13.6% 12.2% 13.1% 16.3% Effective Tax Rate 27.1% 28.2% 31.3% 34.2% 24.6% Dividend Payout Ratio 22.1% 20.8% 14.5% 9.4% 24.6%

Balance Sheet Ratios: Loans/ Deposits 103.0% 103.6% 101.0% 100.4% 100.1% Loans/ Earning Assets 78.6% 81.5% 79.1% 81.1% 76.0% Tangible Equity/ Assets 10.5% 12.7% 12.6% 7.8% 8.0% Securities/ Assets 13.3% 10.4% 10.6% 9.7% 12.7%

Asset Quality Ratios: NPAs/ Assets 0.91% 1.20% 0.96% 0.28% 0.35% Reserve/ Loans 1.14% 1.28% 1.27% 1.14% 1.07% Reserve/ NPAs 100% 88% 106% 332% 231% NCOs/ Average Loans 0.10% 0.13% 0.13% 0.09% 0.10%

Annual Growth Rates: Gross Loans HFI 23.6% 10.9% 5.0% 32.9% 13.5% Deposits 24.3% 8.1% 4.4% 32.5% 35.6% EPS 0.7% -13.3% -35.2% 162.6% 16.8%

3-Year EPS CAGR -17.3% 5-Year EPS CAGR 11.7% Note: All data as calculated by SNL Financial Note: Data reflects calendar year (SMBC's fiscal year ends June 30) Source: SNL Financial

65 Stonegate Bank NASDAQ: SGBK - $31.87 SOP Analyst: Anna Barnard Stonegate Bank Statistics: Market Cap: $403.1 million CEO: David Seleski Assets: $2,272 million CEO Age: 50 Employees: 256 Headquarters: Pompano Beach, FL Full-Service Offices: 21 Primary Markets: FL ------Key "Sm-All Stars" Stats------EPS Growth Loan Growth Deposit Growth ROAE Median 6.6% 9.2% 6.5% 7.9% SGBK 76.8% 46.9% 36.5% 8.5%

NPAs 1 / Loans and OREO NCOs / Avg. Loans TCE / TA Median 1.0% < 0.25% > 7.0% SGBK 0.4% -0.01% 9.6% Company Description Stonegate Bank is a full-service commercial bank, providing a wide range of business and consumer financial products and services through its 21 banking offices in its target marketplaces of South and West FL, which are comprised primarily of Broward, Charlotte, Collier, Hillsborough, Lee, Miami-Dade, Palm Beach and Sarasota Counties in FL.

Stock Price History LTM P/E History 2

Source: SNL Financial Source: SNL Financial

52-Week Range $25 - $32 Annual Dividend $0.16 3-Mo Avg. Daily Vol. 40,275 Yield 0.5% Stated Book Value $21.14 Price/Book 151% Tangible Book Value $16.88 Price/Tangible Book 189%

EOP Loans (as of 6/30/2015) EOP Deposits (as of 6/30/2015)

Owner- Non Owner- Time Noninterest- Occupied Occupied CRE 10% Bearing CRE Savings Consumer & 26% Demand 25% 5% Other 21% 4%

Multi-Family 6% NOW 15% Construction Commercial 7% Money 11% HELOCs & First Land Develop. Market Equity Mortgages 49% 4% 14% 3%

1 Accruing TDRs are excluded from NPAs 2 P/E multiples above 40x are excluded from chart

Source: Sandler O'Neill + Partners, L.P. and SNL Financial. 66 Stonegate Bank SGBK Quarterly Snapshot 0.21 2Q15 1Q15 4Q14 3Q14 2Q14 Per Share Data: Diluted EPS $0.46 $0.39 $0.49 $0.34 $0.18 Core EPS $0.53 $0.45 $0.52 $0.38 $0.35 Book Value Per Share $21.14 $20.67 $18.37 $17.88 $17.55 Tangible Book Value Per Share $16.88 $16.38 $16.63 $16.08 $15.71 Dividend Per Share $0.04 $0.04 $0.04 $0.04 $0.04 Period End Stock Price $29.67 $30.19 $29.62 $25.75 $25.20 Average Diluted Shares (millions) 13.0 12.7 10.6 10.4 10.4 Shares Outstanding (millions) 12.6 12.6 10.3 10.2 10.2

Performance Ratios: ROA (Core) 1.23% 1.07% 1.29% 0.95% 0.87% ROE (Core) 10.2% 8.7% 11.1% 8.2% 7.8% NIM 4.29% 4.10% 3.81% 3.70% 3.60% Efficiency Ratio 50.0% 56.5% 54.4% 57.6% 64.1% Fee Income/ Operating Revenue 7.0% 6.9% 7.5% 7.0% 7.0% Effective Tax Rate 36.3% 36.8% 36.3% 36.0% 24.5% Dividend Payout Ratio 8.7% 10.3% 8.2% 11.8% 22.2%

Balance Sheet Ratios: Loans/ Deposits 92.2% 91.0% 90.1% 87.4% 85.7% Loans/ Earning Assets 77.8% 76.3% 75.3% 72.8% 72.3% Tangible Equity/ Assets 9.6% 10.0% 10.7% 10.7% 10.5% Securities/ Assets 4.9% 4.8% 4.9% 5.8% 5.2%

Asset Quality Ratios: NPAs/ Assets 0.81% 0.67% 0.81% 0.91% 1.22% Reserve/ Loans 0.98% 0.97% 1.27% 1.49% 1.51% Reserve/ NPAs 95% 110% 119% 121% 91% NCOs/ Average Loans -0.02% -0.03% 0.07% -0.04% -0.10%

Annualized Growth Rates: Gross Loans HFI 11.0% 129.5% 24.4% 7.1% 10.5% Deposits 11.0% 129.5% 24.4% 7.1% 10.5% EPS 71.8% -81.6% 176.5% 355.6% -57.1%

Annual Snapshot 2014 2013 2012 2011 2010 Per Share Data: Diluted EPS $1.22 $1.10 $1.08 $1.41 $0.49 Core EPS $1.53 $1.12 $0.87 ($0.11) $0.39 Book Value Per Share $18.37 $15.96 $15.38 $14.33 $12.43 Tangible Book Value Per Share $16.63 $15.82 $15.22 $14.13 $12.33 Dividend Per Share $0.16 $0.16 $0.08 $0.00 $0.00 Period End Stock Price $29.62 $22.95 $17.25 $14.05 $14.10 Average Diluted Shares (millions) 10.4 8.5 8.4 8.2 7.2 Shares Outstanding (millions) 10.3 8.2 8.2 8.2 7.7

Performance Ratios: ROA (Core) 0.95% 0.88% 0.80% -0.12% 0.47% ROE (Core) 8.4% 7.3% 6.0% -0.9% 3.1% NIM 3.68% 3.74% 4.29% 4.19% 4.23% Efficiency Ratio 60.4% 57.9% 57.8% 69.9% 62.6% Fee Income/ Operating Revenue 7.5% 9.2% 8.4% 7.3% 10.9% Effective Tax Rate 34.8% 36.2% 37.6% 27.5% 35.6% Dividend Payout Ratio 13.1% 14.5% 7.4% 0.0% 0.0%

Balance Sheet Ratios: Loans/ Deposits 90.1% 86.7% 98.1% 89.1% 89.1% Loans/ Earning Assets 75.3% 71.4% 76.2% 69.0% 64.9% Tangible Equity/ Assets 10.7% 11.7% 13.3% 13.6% 14.9% Securities/ Assets 4.9% 6.6% 12.2% 16.4% 22.4%

Asset Quality Ratios: NPAs/ Assets 0.81% 1.86% 2.71% 3.79% 2.75% Reserve/ Loans 1.27% 2.13% 2.17% 2.40% 2.50% Reserve/ NPAs 119% 83% 62% 44% 60% NCOs/ Average Loans -0.03% 0.14% 0.43% 1.56% 0.65%

Annual Growth Rates: Gross Loans HFI 61.3% 10.9% 21.8% 42.6% 16.2% Deposits 55.2% 25.4% 10.7% 42.6% 10.5% EPS 10.9% 1.9% -23.4% 187.8% -69.9%

3-Year EPS CAGR -4.7% 5-Year EPS CAGR -5.6% Note: All data as calculated by SNL Financial Source: SNL Financial

67 Suffolk Bancorp NASDAQ: SUBK - $27.50 SOP Analyst: Alexander Twerdahl Suffolk Bancorp Statistics: Market Cap: $323.9 million CEO: Howard C. Bluver Assets: $1,998 million CEO Age: 59 Employees: 335 Headquarters: Riverhead, NY Full-Service Offices: 27 Primary Markets: NY ------Key "Sm-All Stars" Stats------EPS Growth Loan Growth Deposit Growth ROAE Median 6.6% 9.2% 6.5% 7.9% SUBK 13.4% 23.5% 9.6% 9.2%

NPAs 1 / Loans and OREO NCOs / Avg. Loans TCE / TA Median 1.0% < 0.25% > 7.0% SUBK 0.4% -0.06% 9.5% Company Description Suffolk Bancorp is a one-bank holding company engaged in the commercial banking business through Suffolk County National Bank, a full service commercial bank headquartered in Riverhead, NY and Suffolk Bancorp's wholly owned subsidiary. Organized in 1890, the Bank has 27 branch offices in Nassau, Suffolk and Queens Counties, NY.

Stock Price History LTM P/E History 2

Source: SNL Financial Source: SNL Financial

52-Week Range $19 - $30 Annual Dividend $0.40 3-Mo Avg. Daily Vol. 26,585 Yield 1.5% Stated Book Value $16.23 Price/Book 169% Tangible Book Value $16.16 Price/Tangible Book 170%

EOP Loans (as of 6/30/2015) EOP Deposits (as of 6/30/2015)

Home Equity 3% CRE 41% Time C&I 14% 13% Demand 45%

Savings, Consumer NOW & 1% Multi-Family Money Residential Real Estate Mixed Use 25% Market Mortgages Construction Commercial 41% 12% 2% 3%

1 Accruing TDRs are excluded from NPAs 2 P/E multiples above 40x are excluded from chart

Source: Sandler O'Neill + Partners, L.P. and SNL Financial. 68 Suffolk Bancorp SUBK Quarterly Snapshot 0.32 2Q15 1Q15 4Q14 3Q14 2Q14 Per Share Data: Diluted EPS $0.43 $0.34 $0.35 $0.32 $0.32 Core EPS $0.42 $0.34 $0.35 $0.32 $0.30 Book Value Per Share $16.23 $16.00 $15.66 $15.70 $15.47 Tangible Book Value Per Share $16.16 $15.93 $15.59 $15.63 $15.40 Dividend Per Share $0.06 $0.06 $0.06 $0.06 $0.00 Period End Stock Price $25.66 $23.76 $22.71 $19.41 $22.31 Average Diluted Shares (millions) 11.8 11.8 11.7 11.7 11.6 Shares Outstanding (millions) 11.8 11.7 11.7 11.7 11.7

Performance Ratios: ROA (Core) 1.04% 0.84% 0.88% 0.84% 0.81% ROE (Core) 10.6% 8.6% 8.8% 8.2% 8.0% NIM 4.20% 3.96% 3.99% 4.03% 4.12% Efficiency Ratio 63.8% 67.0% 69.9% 69.5% 70.3% Fee Income/ Operating Revenue 9.6% 11.1% 13.6% 14.0% 14.3% Effective Tax Rate 23.6% 23.6% 14.5% 19.0% 21.7% Dividend Payout Ratio 14.0% 17.6% 17.1% 18.8% 0.0%

Balance Sheet Ratios: Loans/ Deposits 85.9% 86.8% 87.1% 79.8% 76.2% Loans/ Earning Assets 73.3% 72.5% 72.2% 69.7% 67.1% Tangible Equity/ Assets 9.5% 9.9% 9.6% 10.2% 10.2% Securities/ Assets 17.2% 19.1% 19.5% 20.9% 21.9%

Asset Quality Ratios: NPAs/ Assets 0.78% 1.15% 1.18% 1.27% 1.34% Reserve/ Loans 1.36% 1.40% 1.39% 1.49% 1.54% Reserve/ NPAs 128% 89% 86% 82% 78% NCOs/ Average Loans -0.21% 0.04% -0.05% -0.02% -0.17%

Annualized Growth Rates: Gross Loans HFI 27.3% 7.9% 29.6% 22.3% 23.3% Deposits 27.3% 7.9% 29.6% 22.3% 23.3% EPS 105.9% -11.4% 37.5% 0.0% 0.0%

Annual Snapshot 2014 2013 2012 2011 2010 Per Share Data: Diluted EPS $1.31 $1.10 ($0.17) ($0.01) $0.65 Core EPS $1.24 $0.67 ($0.16) ($0.06) $0.62 Book Value Per Share $15.66 $14.45 $14.18 $14.04 $14.12 Tangible Book Value Per Share $15.59 $14.38 $14.11 $13.96 $14.03 Dividend Per Share $0.12 $0.00 $0.00 $0.00 $0.81 Period End Stock Price $22.71 $20.80 $13.10 $10.79 $24.68 Average Diluted Shares (millions) 11.7 11.6 10.2 9.7 9.7 Shares Outstanding (millions) 11.7 11.6 11.6 9.7 9.7

Performance Ratios: ROA (Core) 0.82% 0.47% -0.10% -0.03% 0.35% ROE (Core) 8.1% 4.7% -1.1% -0.3% 4.2% NIM 4.07% 3.91% 4.19% 4.97% 5.05% Efficiency Ratio 70.4% 80.9% 84.1% 71.1% 54.7% Fee Income/ Operating Revenue 13.9% 16.2% 16.4% 12.1% 12.1% Effective Tax Rate 19.6% 22.6% NA NA -26.4% Dividend Payout Ratio 9.2% 0.0% NA NA 124.6%

Balance Sheet Ratios: Loans/ Deposits 87.1% 70.8% 54.6% 73.9% 79.3% Loans/ Earning Assets 72.2% 62.3% 47.7% 63.6% 68.1% Tangible Equity/ Assets 9.6% 9.8% 10.1% 9.2% 8.5% Securities/ Assets 19.5% 24.4% 25.5% 21.0% 25.6%

Asset Quality Ratios: NPAs/ Assets 1.18% 1.52% 1.78% 5.66% 2.90% Reserve/ Loans 1.39% 1.61% 2.27% 4.12% 2.55% Reserve/ NPAs 86% 67% 62% 48% 61% NCOs/ Average Loans -0.08% 0.20% 3.57% 1.31% 1.42%

Annual Growth Rates: Gross Loans HFI 26.8% 36.9% -19.5% -12.8% -4.1% Deposits 3.0% 5.5% 9.1% -6.5% 1.3% EPS 19.1% NM NM NM -72.2%

3-Year EPS CAGR NM 5-Year EPS CAGR -10.9% Note: All data as calculated by SNL Financial Source: SNL Financial

69 Texas Capital Bancshares, Inc. NASDAQ: TCBI - $52.51 SOP Analyst: Brad Milsaps, CFA Texas Capital Bancshares, Inc. Statistics: Market Cap: $2,406.0 million CEO: C. Keith Cargill Assets: $17,817 million CEO Age: 62 Employees: 1,224 Headquarters: Dallas, TX Full-Service Offices: 12 Primary Markets: TX ------Key "Sm-All Stars" Stats------EPS Growth Loan Growth Deposit Growth ROAE Median 6.6% 9.2% 6.5% 7.9% TCBI 11.0% 24.7% 31.9% 10.4%

NPAs 1 / Loans and OREO NCOs / Avg. Loans TCE / TA Median 1.0% < 0.25% > 7.0% TCBI 0.8% 0.06% 7.8% Company Description Texas Capital Bancshares, Inc., a member of the Russell 2000® Index and the S&P SmallCap 600®, is the parent company of Texas Capital Bank, a commercial bank that delivers highly personalized financial services to businesses and entrepreneurs. Headquartered in Dallas, the bank has full-service locations in Austin, Dallas, Fort Worth, Houston and San Antonio.

Stock Price History LTM P/E History 2

Source: SNL Financial Source: SNL Financial

52-Week Range $40 - $64 Annual Dividend $0.00 3-Mo Avg. Daily Vol. 536,138 Yield 0.0% Stated Book Value $30.66 Price/Book 171% Tangible Book Value $30.22 Price/Tangible Book 174%

EOP Loans (as of 6/30/2015) EOP Deposits (as of 6/30/2015) Interest- Commercial Bearing in Foreign 40% Noninterest- Branches Bearing 1% Leases Interest- 46% 1% Bearing 53%

Mortgage Real Estate Finance 18% Construction 30% 11%

1 Accruing TDRs are excluded from NPAs 2 P/E multiples above 40x are excluded from chart

Source: Sandler O'Neill + Partners, L.P. and SNL Financial. 70 Texas Capital Bancshares, Inc. TCBI Quarterly Snapshot 0.6 2Q15 1Q15 4Q14 3Q14 2Q14 Per Share Data: Diluted EPS $0.76 $0.70 $0.78 $0.78 $0.71 Core EPS $0.76 $0.70 $0.78 $0.78 $0.71 Book Value Per Share $30.66 $29.89 $29.17 $26.59 $25.82 Tangible Book Value Per Share $30.22 $29.44 $28.72 $26.10 $25.33 Dividend Per Share $0.00 $0.00 $0.00 $0.00 $0.00 Period End Stock Price $62.24 $48.65 $54.33 $57.68 $53.95 Average Diluted Shares (millions) 46.4 46.4 45.1 43.8 43.8 Shares Outstanding (millions) 45.8 45.8 45.7 43.2 43.1

Performance Ratios: ROA (Core) 0.83% 0.83% 1.04% 1.08% 1.09% ROE (Core) 9.9% 9.4% 11.0% 11.6% 10.8% NIM 3.19% 3.15% 3.56% 3.78% 3.83% Efficiency Ratio 52.4% 54.2% 53.8% 53.2% 55.7% Fee Income/ Operating Revenue 8.2% 8.6% 8.1% 7.6% 8.4% Effective Tax Rate 36.0% 36.0% 35.0% 36.1% 35.9% Dividend Payout Ratio 0.0% 0.0% 0.0% 0.0% 0.0%

Balance Sheet Ratios: Loans/ Deposits 113.0% 114.5% 112.5% 114.9% 119.5% Loans/ Earning Assets 89.4% 92.8% 89.1% 93.7% 94.3% Tangible Equity/ Assets 8.6% 8.7% 9.2% 9.0% 9.2% Securities/ Assets 0.8% 0.7% 0.7% 0.7% 1.0%

Asset Quality Ratios: NPAs/ Assets 0.77% 0.43% 0.32% 0.30% 0.33% Reserve/ Loans 0.74% 0.67% 0.71% 0.72% 0.71% Reserve/ NPAs 96% 156% 221% 240% 214% NCOs/ Average Loans 0.10% 0.09% 0.03% 0.02% 0.08%

Annualized Growth Rates: Gross Loans HFI -3.8% 53.8% 23.7% 18.9% 42.9% Deposits 1.9% 45.7% 32.7% 35.6% 42.3% EPS 34.3% -41.0% 0.0% 39.4% 73.3%

Annual Snapshot 2014 2013 2012 2011 2010 Per Share Data: Diluted EPS $2.88 $2.72 $3.00 $1.98 $1.00 Core EPS $2.89 $2.84 $3.08 $1.99 $1.01 Book Value Per Share $29.17 $23.06 $20.53 $16.36 $14.30 Tangible Book Value Per Share $28.72 $22.54 $20.04 $15.82 $14.04 Dividend Per Share $0.00 $0.00 $0.00 $0.00 $0.00 Period End Stock Price $54.33 $62.20 $44.82 $30.61 $21.34 Average Diluted Shares (millions) 44.0 41.8 40.2 38.3 37.3 Shares Outstanding (millions) 45.7 41.0 40.7 37.7 37.0

Performance Ratios: ROA (Core) 1.05% 1.22% 1.38% 1.12% 0.63% ROE (Core) 10.8% 12.6% 17.3% 13.5% 7.3% NIM 3.75% 4.18% 4.37% 4.63% 4.22% Efficiency Ratio 55.2% 53.5% 49.4% 53.2% 55.2% Fee Income/ Operating Revenue 8.2% 9.5% 10.2% 9.6% 11.8% Effective Tax Rate 35.8% 35.5% 36.0% 35.8% 34.5% Dividend Payout Ratio 0.0% 0.0% 0.0% 0.0% 0.0%

Balance Sheet Ratios: Loans/ Deposits 112.5% 121.7% 133.9% 137.7% 108.3% Loans/ Earning Assets 89.1% 95.5% 93.8% 93.2% 90.6% Tangible Equity/ Assets 9.2% 9.2% 7.8% 7.3% 8.1% Securities/ Assets 0.7% 1.0% 1.9% 2.6% 3.1%

Asset Quality Ratios: NPAs/ Assets 0.29% 0.34% 0.78% 1.42% 2.47% Reserve/ Loans 0.71% 0.78% 0.75% 0.92% 1.21% Reserve/ NPAs 221% 222% 90% 61% 45% NCOs/ Average Loans 0.05% 0.05% 0.07% 0.46% 0.95%

Annual Growth Rates: Gross Loans HFI 26.5% 13.1% 30.2% 29.6% 14.7% Deposits 36.9% 24.4% 33.9% 1.8% 32.4% EPS 5.9% -9.3% 51.5% 98.0% 81.8%

3-Year EPS CAGR 13.3% 5-Year EPS CAGR 39.2% Note: All data as calculated by SNL Financial Source: SNL Financial

71 United Community Banks, Inc. NASDAQ: UCBI - $19.83 SOP Analyst: Brad Milsaps, CFA United Community Banks, Inc. Statistics: Market Cap: $1,251.6 million CEO: Jimmy Carl Tallent Assets: $8,246 million CEO Age: 62 Employees: 1,644 Headquarters: Blairsville, GA Full-Service Offices: 114 Primary Markets: GA, SC, NC, TN ------Key "Sm-All Stars" Stats------EPS Growth Loan Growth Deposit Growth ROAE Median 6.6% 9.2% 6.5% 7.9% UCBI 22.1% 17.2% 10.5% 9.4%

NPAs 1 / Loans and OREO NCOs / Avg. Loans TCE / TA Median 1.0% < 0.25% > 7.0% UCBI 0.4% 0.20% 9.7% Company Description United Community Banks, Inc. is a bank holding company based in Blairsville, GA, with $8.2 bil. in assets. The company's banking subsidiary, United Community Bank, is one of the Southeast's largest full-service banks, operating 114 offices in GA, SC, NC and TN. The bank specializes in personalized community banking services for individuals, small businesses and corporations. A full range of consumer and commercial banking services includes mortgage, advisory, treasury management and other products.

Stock Price History LTM P/E History 2

Source: SNL Financial Source: SNL Financial

52-Week Range $15 - $22 Annual Dividend $0.24 3-Mo Avg. Daily Vol. 342,947 Yield 1.2% Stated Book Value $13.03 Price/Book 152% Tangible Book Value $12.71 Price/Tangible Book 156%

EOP Loans (as of 6/30/2015) EOP Deposits (as of 6/30/2015) Income Owner- Producing Time > Occupied Brokered CRE $100k CRE 8% Demand 13% C&I Time < 7% 24% 27% 15% $100k 11% Indirect Auto 7%

Commercial Consumer Construction Savings Installment Home Equity 5% 5% NOW 2% Residential Lines of Residential Money 21% Construction Credit Mortgage Market 6% 10% 18% 21%

1 Accruing TDRs are excluded from NPAs 2 P/E multiples above 40x are excluded from chart

Source: Sandler O'Neill + Partners, L.P. and SNL Financial. 72 United Community Banks, Inc. UCBI Quarterly Snapshot 0.25 2Q15 1Q15 4Q14 3Q14 2Q14 Per Share Data: Diluted EPS $0.28 $0.29 $0.30 $0.29 $0.27 Core EPS $0.32 $0.28 $0.31 $0.29 $0.23 Book Value Per Share $13.03 $12.66 $12.27 $12.22 $12.00 Tangible Book Value Per Share $12.71 $12.61 $12.21 $12.16 $11.96 Dividend Per Share $0.05 $0.05 $0.05 $0.03 $0.03 Period End Stock Price $20.87 $18.88 $18.94 $16.46 $16.37 Average Diluted Shares (millions) 62.6 60.9 60.8 60.8 60.7 Shares Outstanding (millions) 62.7 60.3 60.3 60.2 60.1

Performance Ratios: ROA (Core) 1.01% 0.91% 0.98% 0.97% 0.75% ROE (Core) 10.0% 9.2% 10.1% 9.8% 7.8% NIM 3.29% 3.26% 3.33% 3.34% 3.20% Efficiency Ratio 57.0% 58.6% 56.2% 57.1% 61.4% Fee Income/ Operating Revenue 22.1% 19.8% 20.1% 20.3% 15.1% Effective Tax Rate 38.4% 37.0% 37.2% 36.2% 37.0% Dividend Payout Ratio 17.9% 17.2% 16.7% 10.3% 11.1%

Balance Sheet Ratios: Loans/ Deposits 76.0% 74.4% 73.9% 73.3% 71.6% Loans/ Earning Assets 62.5% 62.1% 61.4% 60.4% 59.6% Tangible Equity/ Assets 9.8% 9.9% 9.7% 9.7% 9.8% Securities/ Assets 28.5% 29.0% 29.3% 29.9% 30.0%

Asset Quality Ratios: NPAs/ Assets 1.30% 1.34% 1.33% 1.38% 1.47% Reserve/ Loans 1.35% 1.46% 1.53% 1.57% 1.65% Reserve/ NPAs 65% 68% 71% 69% 68% NCOs/ Average Loans 0.08% 0.22% 0.22% 0.28% 0.38%

Annualized Growth Rates: Gross Loans HFI 32.2% 9.6% 9.0% 14.3% 3.5% Deposits 32.2% 9.6% 9.0% 14.3% 3.5% EPS -13.8% -13.3% 13.8% 29.6% 32.0%

Annual Snapshot 2014 2013 2012 2011 2010 Per Share Data: Diluted EPS $1.11 $4.44 $0.38 ($5.97) ($27.09) Core EPS $1.08 $4.44 $0.38 ($5.93) ($18.34) Book Value Per Share $12.27 $11.34 $6.69 $6.63 $15.45 Tangible Book Value Per Share $12.21 $11.28 $6.59 $6.48 $14.85 Dividend Per Share $0.11 $0.00 $0.00 $0.00 $0.00 Period End Stock Price $18.94 $17.75 $9.44 $6.99 $9.75 Average Diluted Shares (millions) 60.6 58.8 57.9 39.9 18.9 Shares Outstanding (millions) 60.3 59.4 57.7 57.6 18.9

Performance Ratios: ROA (Core) 0.89% 3.86% 0.49% -3.13% -4.43% ROE (Core) 9.1% 37.3% 5.8% -40.4% -41.1% NIM 3.26% 3.30% 3.51% 3.52% 3.59% Efficiency Ratio 58.2% 59.9% 59.5% 63.5% 60.2% Fee Income/ Operating Revenue 18.5% 20.1% 17.7% 15.7% 15.5% Effective Tax Rate 36.8% NA 3.0% NA NA Dividend Payout Ratio 9.9% 0.0% 0.0% NA NA

Balance Sheet Ratios: Loans/ Deposits 73.9% 70.1% 70.7% 68.3% 72.2% Loans/ Earning Assets 61.4% 58.1% 61.3% 59.0% 63.2% Tangible Equity/ Assets 9.7% 10.7% 8.5% 8.1% 6.3% Securities/ Assets 29.3% 31.3% 30.8% 30.7% 21.0%

Asset Quality Ratios: NPAs/ Assets 1.33% 1.48% 3.69% 3.81% 5.57% Reserve/ Loans 1.53% 1.76% 2.53% 2.73% 3.71% Reserve/ NPAs 71% 70% 43% 43% 43% NCOs/ Average Loans 0.31% 2.22% 1.69% 7.33% 4.18%

Annual Growth Rates: Gross Loans HFI 7.5% 3.4% 1.1% -10.9% -10.8% Deposits 2.0% 4.2% -2.4% -5.7% -2.4% EPS -75.0% NM NM NM NM

3-Year EPS CAGR NM 5-Year EPS CAGR NM Note: All data as calculated by SNL Financial Source: SNL Financial

73 West Bancorporation, Inc. NASDAQ: WTBA - $19.09 SOP Analyst: Andrew Liesch, CFA West Bancorporation, Inc. Statistics: Market Cap: $306.6 million CEO: David D. Nelson Assets: $1,654 million CEO Age: 54 Employees: 173 Headquarters: West Des Moines, IA Full-Service Offices: 11 Primary Markets: IA, MN ------Key "Sm-All Stars" Stats------EPS Growth Loan Growth Deposit Growth ROAE Median 6.6% 9.2% 6.5% 7.9% WTBA 19.8% 13.1% 8.3% 15.2%

NPAs 1 / Loans and OREO NCOs / Avg. Loans TCE / TA Median 1.0% < 0.25% > 7.0% WTBA 0.4% -0.03% 8.8% Company Description West Bancorporation, Inc. is headquartered in West Des Moines, IA. Serving Iowans since 1893, West Bank, a wholly-owned subsidiary of West Bancorporation, Inc., is a community bank that focuses on lending, deposit services, and trust services for consumers and small- to medium-sized businesses. West Bank has 8 offices in the Des Moines metropolitan area; 1 in Iowa City, IA; 1 in Coralville, IA; and 1 office in Rochester, MN.

Stock Price History LTM P/E History 2

Source: SNL Financial Source: SNL Financial

52-Week Range $14 - $21 Annual Dividend $0.64 3-Mo Avg. Daily Vol. 17,697 Yield 3.4% Stated Book Value $9.05 Price/Book 211% Tangible Book Value $9.05 Price/Tangible Book 211%

EOP Loans (as of 6/30/2015) EOP Deposits (as of 6/30/2015)

Construction, Noninterest- Land & Land Time > Other Time Bearing Commercial Develop. $250k 8% Demand 27% 12% 1% 31% 1-4 Family 4%

Home Equity Consumer & 2% Savings Other 43% Interest- 1% CRE Bearing 54% Demand 17%

1 Accruing TDRs are excluded from NPAs 2 P/E multiples above 40x are excluded from chart

Source: Sandler O'Neill + Partners, L.P. and SNL Financial. 74 West Bancorporation, Inc. WTBA Quarterly Snapshot 0.27 2Q15 1Q15 4Q14 3Q14 2Q14 Per Share Data: Diluted EPS $0.33 $0.32 $0.36 $0.32 $0.30 Core EPS $0.33 $0.32 $0.34 $0.31 $0.30 Book Value Per Share $9.05 $8.96 $8.75 $8.47 $8.25 Tangible Book Value Per Share $9.05 $8.96 $8.75 $8.47 $8.25 Dividend Per Share $0.16 $0.14 $0.14 $0.12 $0.12 Period End Stock Price $19.84 $19.89 $17.02 $14.13 $15.23 Average Diluted Shares (millions) 16.1 16.1 16.1 16.0 16.0 Shares Outstanding (millions) 16.1 16.0 16.0 16.0 16.0

Performance Ratios: ROA (Core) 1.27% 1.26% 1.39% 1.30% 1.26% ROE (Core) 14.5% 14.4% 15.9% 14.7% 14.6% NIM 3.58% 3.54% 3.65% 3.59% 3.54% Efficiency Ratio 46.9% 48.2% 49.3% 48.3% 48.5% Fee Income/ Operating Revenue 12.4% 12.5% 14.7% 16.5% 16.1% Effective Tax Rate 30.9% 30.8% 2.5% 31.8% 31.5% Dividend Payout Ratio 48.5% 43.8% 38.9% 37.5% 40.0%

Balance Sheet Ratios: Loans/ Deposits 89.1% 86.7% 93.2% 89.9% 85.2% Loans/ Earning Assets 72.9% 71.2% 72.7% 70.5% 69.6% Tangible Equity/ Assets 8.8% 8.7% 8.7% 8.9% 8.6% Securities/ Assets 18.7% 19.9% 21.0% 23.2% 22.8%

Asset Quality Ratios: NPAs/ Assets 0.45% 0.36% 0.35% 0.85% 0.88% Reserve/ Loans 1.18% 1.17% 1.15% 1.23% 1.23% Reserve/ NPAs 262% 323% 326% 144% 139% NCOs/ Average Loans -0.09% -0.09% 0.08% -0.01% 0.08%

Annualized Growth Rates: Gross Loans HFI 11.1% -0.2% 37.8% 2.0% 23.0% Deposits 0.3% 29.9% 21.6% -18.1% 8.5% EPS 12.5% -44.4% 50.0% 26.7% 44.4%

Annual Snapshot 2014 2013 2012 2011 2010 Per Share Data: Diluted EPS $1.25 $1.02 $0.92 $0.74 $0.64 Core EPS $1.20 $1.02 $0.89 $0.72 $0.64 Book Value Per Share $8.75 $7.74 $7.73 $7.09 $6.37 Tangible Book Value Per Share $8.75 $7.74 $7.73 $7.09 $6.37 Dividend Per Share $0.49 $0.42 $0.36 $0.17 $0.05 Period End Stock Price $17.02 $15.82 $10.78 $9.58 $7.79 Average Diluted Shares (millions) 16.0 16.6 17.4 17.4 17.4 Shares Outstanding (millions) 16.0 16.0 17.4 17.4 17.4

Performance Ratios: ROA (Core) 1.27% 1.17% 1.16% 1.16% 0.86% ROE (Core) 14.6% 13.2% 11.9% 11.1% 9.5% NIM 3.59% 3.48% 3.42% 3.58% 3.04% Efficiency Ratio 49.9% 52.5% 51.5% 49.6% 47.4% Fee Income/ Operating Revenue 15.5% 15.7% 19.5% 17.5% 19.5% Effective Tax Rate 24.9% 30.2% 29.7% 28.5% 28.5% Dividend Payout Ratio 39.2% 41.2% 39.1% 23.0% 7.8%

Balance Sheet Ratios: Loans/ Deposits 93.2% 85.2% 81.7% 87.6% 91.4% Loans/ Earning Assets 72.7% 68.3% 63.6% 65.5% 67.4% Tangible Equity/ Assets 8.7% 8.6% 9.3% 9.7% 11.1% Securities/ Assets 21.0% 24.8% 21.0% 23.2% 20.6%

Asset Quality Ratios: NPAs/ Assets 0.26% 0.73% 1.17% 1.80% 2.55% Reserve/ Loans 1.15% 1.39% 1.67% 1.99% 2.14% Reserve/ NPAs 326% 131% 92% 73% 57% NCOs/ Average Loans 0.09% 0.09% 0.22% 0.34% 0.63%

Annual Growth Rates: Gross Loans HFI 19.4% 6.9% 10.5% -5.6% -12.9% Deposits 9.2% 2.6% 18.5% -1.5% -22.0% EPS 22.5% 10.9% 24.3% 15.6% NM

3-Year EPS CAGR 19.1% 5-Year EPS CAGR NM Note: All data as calculated by SNL Financial Source: SNL Financial

75 APPENDIX

We attest that all of the views expressed in this report accurately reflect our personal views about the securities covered by this report as of the date of this report, and that no part of our compensation was, is or will be, directly or indirectly, related to the specific recommendations or views expressed by us in this report. S/ Mark Fitzgibbon, S/ Casey Orr

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76

Mark Fitzgibbon, CFA Richard Repetto, CFA Jeffery J. Harte Principal & Principal Principal Director of Research

+ Northeast Banks & Thrifts + Asset Manager Mark Fitzgibbon, CFA 212-466-7925 Michael S. Kim 212-466-7722 Frank Schiraldi, CFA 212-466-7931 Andrew Disdier 212-466-7805 Casey Orr 212-466-8061 Alex Twerdahl 212-466-7916 + eFinance Anna Barnard 212-466-7921 Richard Repetto, CFA 212-466-7906 Robert Haderer, CFA 212-466-7923 Michael Adams, CFA 212-466-7962 Nicholas Cucharale 212-466-7922 Collin Cook 212-466-8065

+ Midwest Banks & Thrifts + Financial Technology & R. Scott Siefers 212-466-7924 Brad J. Milsaps, CFA 404-442-2857 Specialty Finance Andrew Liesch, CFA 415-978-5031 Christopher Donat, CFA 212-466-8068 Matt Forgotson 212-466-8064 Crispin Love 212-466-7938 Peter Ruiz 404-442-2886 Brendan Nosal 212-466-7918 + Insurance Paul Newsome 312-281-3445 + Southeast/Southwest Banks & Thrifts John Barnidge 312-281-3412 Brad J. Milsaps, CFA 404-442-2857 Stephen Scouten, CFA 404-442-2882 + Investment, Global, and Trust Banks Casey Orr 212-466-8061 Jeffery Harte 312-281-3443 Robert Haderer, CFA 212-466-7923 Sumeet Mody 312-281-3414 + West Coast Banks & Thrifts + Real Estate Tim O’Brien 415-978-5033 Aaron Deer 415-978-5032 Alexander Goldfarb 212-466-7937 Brad J. Milsaps, CFA 404-442-2857 Ryan Peterson 212-466-7927 Andrew Liesch, CFA 415-978-5031 Alexander Morris 415-978-5034