4Th Quarter 2019

4th Quarter 2019

DCISCUSSIONALIFORNIA MCOMMUNITYATERIALS BANK LANDSCAPE

Financial Institutions Group Table of Contents

SECTION DESCRIPTION

I. California Bank Regulatory Data

II. Overview – Janney Montgomery Scott LLC

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

2 I. CALIFORNIA BANK REGULATORY DATA Overview - California Bank Regulatory Data

Northern California METHODOLOGY . 7 county regions separated by geographic relevance Sacramento Valley . Data as of most recent available quarter as of December 31, 2019

. Regulatory call report data shown for all banks

Bay Area San Joaquin Valley KEY STATE OBSERVATIONS & Central Sierra . Median loan growth of 8.54%

Central Southern . Median NIM of 3.93% Coast California

Southern Border

Source: S&P Global Market Intelligence 4 Northern California Region

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

Plumas Bank Quincy 865 623 11.9 748 (14.8) 83.3 10.35 14.17 0.00 1.16 0.38 4,016 1.84 4.71 47.6

Redwood Capital Bank Eureka 368 278 6.3 331 (9.2) 84.1 9.42 13.86 0.13 1.51 0.00 1,029 1.11 3.99 63.9

Savings Bank of Mendocino County Ukiah 1,104 531 (2.4) 910 (3.4) 58.4 16.93 28.58 0.31 2.19 0.01 3,450 1.24 3.76 57.4

Average 736 405 2.0 620 (6.3) 71.2 13.18 21.22 0.22 1.85 0.01 2,240 1.18 3.88 60.7 Median 736 405 2.0 620 (6.3) 71.2 13.18 21.22 0.22 1.85 0.01 2,240 1.18 3.88 60.7

Source: S&P Global Market Intelligence, Most Recent Available Quarter 5 Sacramento Valley Region

American River Bank Rancho Cordova 721 399 25.5 605 (5.1) 65.9 9.25 16.11 0.94 1.29 (0.01) 1,646 0.91 3.64 63.3

Bank of Feather River Yuba City 145 111 (9.2) 115 34.5 96.5 10.76 13.72 0.00 1.31 0.00 388 1.09 4.51 69.3

Cornerstone Community Bank Red Bluff 288 242 14.3 254 (24.9) 95.3 10.05 12.46 0.03 1.00 0.01 964 1.27 4.20 56.6

El Dorado Savings Bank, F.S.B. Placerville 2,184 597 10.8 1,921 4.1 31.1 11.30 37.38 0.36 0.82 0.01 4,810 0.88 2.35 62.9

Five Star Bank Rancho Cordova 1,480 1,187 14.5 1,316 25.8 90.2 9.25 11.26 0.08 1.26 0.32 8,200 2.29 4.21 36.6

Golden Pacific Bank, National Association Sacramento 134 105 15.3 118 8.8 89.0 10.01 16.27 0.81 1.26 0.09 97 0.29 4.67 92.5

Golden Valley Bank Chico 357 184 29.6 295 (12.6) 62.3 8.40 13.91 0.02 1.25 0.00 804 0.93 3.41 62.3

Northern California National Bank Chico 275 113 36.4 249 18.3 45.5 9.31 20.60 0.18 1.69 (0.01) 636 0.95 3.24 54.7

Merchants Bank of Commerce Redding 1,478 1,035 - 1,273 2.0 81.3 11.58 15.48 0.70 1.18 0.02 4,893 1.32 3.93 55.0

River City Bank Sacramento 2,545 1,944 27.0 2,145 21.0 90.7 9.46 12.31 0.00 2.14 (0.04) 5,842 0.94 2.68 36.8

River Valley Community Bank Yuba City 442 203 16.7 338 29.5 60.2 8.20 12.51 0.07 1.25 (0.03) 1,029 0.96 3.14 56.7

Tri Counties Bank Chico 6,469 4,313 11.7 5,372 5.4 80.3 11.47 14.98 0.36 0.71 0.06 23,528 1.45 4.45 57.4

Average 1,377 869 16.0 1,167 8.9 74.0 9.92 16.42 0.30 1.26 0.04 4,403 1.11 3.70 58.7 Median 582 320 14.9 471 7.1 80.8 9.74 14.45 0.13 1.26 0.01 1,338 0.96 3.79 57.0

Source: S&P Global Market Intelligence, Most Recent Available Quarter 6 Bay Area Region (1 of 2)

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

Avidbank San Jose 1,129 889 (9.0) 986 40.8 90.2 11.14 12.43 0.34 1.27 (0.02) 3,488 1.26 4.53 61.0

Bank of Marin Novato 2,707 1,843 9.9 2,346 19.1 78.6 11.29 14.63 0.42 0.90 0.01 9,305 1.42 3.89 48.9

Bank of San Francisco San Francisco 397 321 13.4 353 44.1 91.0 10.84 16.48 0.00 1.35 0.00 1,184 1.26 4.27 56.3

Bank of the Orient San Francisco 894 749 (2.7) 772 (13.8) 97.1 9.86 14.12 0.53 2.05 3.91 (6,144) (2.70) 3.75 72.7

Bank of the West San Francisco 92,969 62,690 (3.4) 70,483 4.1 88.9 10.01 13.28 0.54 0.99 0.39 102,709 0.45 2.72 69.5

Beacon Business Bank NA San Francisco 156 95 (7.8) 136 51.4 69.8 12.35 20.34 0.44 3.13 0.00 24 0.07 4.08 98.4

Beneficial State Bank Oakland 1,037 740 (5.0) 834 (8.9) 88.8 10.69 15.28 0.65 2.16 0.15 413 0.16 4.09 93.9

California Bank of Commerce Lafayette 1,152 952 7.1 991 27.8 96.1 10.44 11.79 0.29 1.16 0.14 709 0.25 3.91 82.2

California Pacific Bank San Francisco 77 55 (3.8) 43 25.3 127.3 41.36 51.16 8.20 7.57 0.00 203 1.02 5.83 67.7

Community Bank of the Bay Oakland 494 400 4.5 399 (1.5) 100.1 11.57 14.65 0.04 1.03 0.00 1,064 0.88 4.24 67.3

Exchange Bank Santa Rosa 2,670 1,581 0.6 2,356 10.4 67.1 10.39 15.79 0.34 2.52 (0.08) 9,070 1.38 3.82 58.1

First FS&LA of San Rafael San Rafael 201 191 (6.4) 150 (4.4) 127.6 20.35 26.16 0.00 0.49 0.00 159 0.32 3.33 87.1

First Northern Bank of Dixon Dixon 1,293 785 7.6 1,142 0.3 68.8 9.95 15.83 0.31 1.57 (0.04) 3,611 1.11 3.89 63.4

First Repub Bank San Francisco 116,264 90,820 20.8 90,133 20.6 100.8 8.39 12.73 0.13 0.55 0.00 246,330 0.87 2.67 63.3

Fremont Bank Fremont 4,378 3,527 20.2 3,990 (13.2) 88.4 7.55 11.00 0.41 1.34 0.00 14,786 1.34 3.71 71.9

Gateway Bank F.S.B. Oakland 129 85 34.5 96 45.5 88.4 12.86 27.18 3.21 1.87 0.00 84 0.27 3.53 98.3

Heritage Bank of Commerce San Jose 4,108 2,535 139.6 3,435 107.1 73.8 10.19 13.90 0.24 0.92 0.95 6,869 0.65 4.27 67.2

Liberty Bank South San Francisco 277 218 17.0 239 9.6 90.9 12.58 14.08 0.96 1.32 0.00 45 0.07 3.64 98.5

Luther Burbank Savings Santa Rosa 7,043 6,231 (1.8) 5,279 (9.3) 118.0 10.57 19.94 0.11 0.58 (0.01) 14,014 0.79 2.04 42.3

Mechanics Bank Walnut Creek 17,204 10,166 7.7 14,594 (2.0) 69.7 8.45 13.67 0.53 0.37 0.30 40,753 0.96 3.95 58.9

Source: S&P Global Market Intelligence, Most Recent Available Quarter 7 Bay Area Region (2 of 2)

Metropolitan Bank Oakland 181 137 2.0 150 (0.3) 90.8 12.47 20.26 1.38 1.92 (0.48) 1,300 2.88 3.94 41.3

Mission National Bank San Francisco 250 185 (7.3) 215 12.3 86.1 13.32 21.26 0.00 1.59 0.05 344 0.57 3.66 89.0

Pacific Coast Bankers Bank Walnut Creek 723 236 (35.4) 581 (57.5) 40.7 11.34 20.42 0.00 1.57 (0.01) 4,015 1.89 2.05 71.4

Pinnacle Bk Gilroy 420 330 8.7 357 17.6 92.6 12.91 15.19 0.03 1.19 (0.04) 1,405 1.35 5.47 64.1

Poppy Bank Santa Rosa 2,534 1,996 22.8 2,156 34.5 92.6 11.03 16.70 0.44 1.21 (0.34) 12,247 2.00 3.25 35.9

Santa Cruz County Bank Santa Cruz 1,071 758 198.1 904 172.9 83.8 11.60 16.27 0.07 1.36 0.00 3,016 1.12 4.40 61.2

Silicon Valley Bank Santa Clara 69,943 33,149 27.1 62,944 16.6 52.7 7.30 12.00 0.19 0.92 0.18 253,519 1.49 3.30 50.4

Summit Bank Oakland 258 177 8.4 216 11.2 81.8 13.39 17.19 0.08 1.96 0.00 966 1.50 5.15 60.7

Summit State Bank Santa Rosa 696 583 16.2 574 (20.7) 101.7 9.26 12.36 0.42 1.16 (0.01) 1,835 1.09 3.74 59.2

United Business Bank Walnut Creek 1,993 1,460 72.0 1,702 53.3 85.8 10.98 14.75 0.36 0.51 (0.01) 4,712 0.95 4.18 66.9

WestAmerica Bank San Rafael 5,599 1,127 (2.3) 4,815 1.4 23.4 7.60 12.58 0.14 1.73 0.12 20,857 1.49 3.00 46.9

Average 10,911 7,258 17.8 8,818 19.2 85.6 12.00 17.21 0.67 1.56 0.17 24,287 0.91 3.82 66.9 Median 1,071 758 7.6 904 11.2 88.8 10.98 15.19 0.34 1.32 0.00 3,016 1.02 3.89 64.1

Source: S&P Global Market Intelligence, Most Recent Available Quarter 8 Central Coast Region

1st Capital Bank Salinas 645 511 13.5 572 4.5 89.3 10.90 15.29 0.02 1.29 (0.01) 1,735 1.12 3.90 61.3

American Riviera Bank Santa Barbara 719 578 22.3 621 11.9 93.1 10.04 12.40 0.01 1.10 (0.01) 1,569 0.88 4.14 68.0

Community Bank of Santa Maria Santa Maria 263 186 7.7 235 2.8 78.9 10.17 13.66 0.23 1.09 (0.01) 808 1.21 4.52 63.6

Community West Bank NA Goleta 914 776 (7.0) 752 (5.5) 103.2 9.06 11.41 0.76 1.12 (0.03) 2,828 1.27 4.10 63.9

Montecito Bank & Trust Santa Barbara 1,609 1,040 9.1 1,412 20.6 73.7 10.61 14.92 0.59 1.26 0.00 1,683 0.43 3.70 87.2

Monterey County Bank Monterey 167 91 2.9 133 (27.6) 68.7 11.18 14.38 10.56 1.03 0.56 558 1.35 4.26 100.8

Pacific Valley Bank Salinas 351 271 29.1 314 13.6 86.3 10.67 14.37 0.30 1.73 (0.01) 677 0.81 3.94 68.8

Average 667 493 11.0 577 2.9 84.7 10.38 13.78 1.78 1.23 0.07 1,408 1.01 4.08 73.4 Median 645 511 9.1 572 4.5 86.3 10.61 14.37 0.30 1.12 (0.01) 1,569 1.12 4.10 68.0

Source: S&P Global Market Intelligence, Most Recent Available Quarter 9 San Joaquin Valley & Central Sierra Region

BAC Community Bank Stockton 625 451 0.8 549 (14.3) 82.2 10.54 14.97 0.48 1.33 0.13 2,031 1.27 3.95 68.0

Bank of Stockton Stockton 3,358 1,905 0.5 2,599 5.5 73.3 17.40 15.68 0.36 3.02 0.10 22,386 2.70 3.92 53.7

Bank of the Sierra Porterville 2,593 1,765 (7.8) 2,173 (5.8) 81.3 11.73 15.25 0.56 0.56 0.40 9,735 1.49 4.20 55.4

Central Valley Community Bank Fresno 1,596 943 0.4 1,335 7.1 70.7 11.27 15.66 0.23 0.97 0.37 4,540 1.15 4.44 60.7

Farmers & Mrchnt Bk Central CA Lodi 3,723 2,673 8.5 3,281 17.8 81.5 9.89 12.33 0.35 2.06 (0.01) 14,980 1.64 4.16 49.7

Fresno First Bank Fresno 538 376 14.9 484 (2.7) 77.8 9.36 16.10 0.10 1.21 0.00 2,576 1.90 4.55 48.2

Mission Bank Bakersfield 847 653 24.3 760 23.5 86.0 9.61 12.01 0.11 1.23 0.04 3,347 1.62 4.54 46.7

Murphy Bank Fresno 308 265 0.2 265 (2.2) 99.7 10.92 14.59 0.28 1.01 0.12 1,271 1.65 4.13 53.4

Oak Valley Community Bank Oakdale 1,148 750 10.3 1,020 17.2 73.5 9.45 12.34 0.10 1.22 0.04 3,348 1.19 3.97 59.5

Premier Valley Bank Fresno 903 539 (2.8) 708 (6.3) 76.2 10.43 13.21 0.16 0.72 0.01 3,299 1.47 4.42 53.0

Suncrest Bank Visalia 985 667 6.2 829 (7.0) 80.6 10.91 14.77 0.56 0.82 0.61 3,036 1.22 4.20 51.3

United Security Bank Fresno 956 597 19.0 821 (0.8) 72.6 12.83 17.78 2.18 1.33 0.23 3,296 1.39 4.14 53.3

Valley Republic Bank Bakersfield 939 625 24.2 831 11.1 75.2 10.41 13.12 0.00 1.34 0.00 2,680 1.17 3.51 49.7

Average 1,425 939 7.6 1,204 3.3 79.3 11.13 14.45 0.42 1.29 0.16 5,887 1.53 4.16 54.0 Median 956 653 6.2 829 (0.8) 77.8 10.54 14.77 0.28 1.22 0.10 3,299 1.47 4.16 53.3

Source: S&P Global Market Intelligence, Most Recent Available Quarter 10 Southern California Region (1 of 3)

American Business Bank Los Angeles 2,402 1,487 16.2 2,165 12.5 68.7 8.66 13.82 0.09 1.40 0.00 5,989 0.99 3.47 58.8

American Continental Bank City of Industry 270 199 (1.7) 234 2.4 85.3 12.96 17.65 0.03 1.60 (0.02) 646 0.97 3.15 59.4

American Plus Bank N.A. Arcadia 563 489 5.4 469 (7.0) 104.2 14.54 16.23 0.23 1.24 0.00 2,402 1.71 3.39 32.8

Asian Pacific National Bank San Gabriel 57 22 12.7 46 5.4 47.6 17.56 31.39 0.00 2.45 0.00 10 0.07 2.72 97.6

Banc of California NA Santa Ana 7,802 5,975 (27.0) 5,502 (24.2) 108.6 12.00 17.46 0.64 0.96 0.17 16,164 0.81 3.19 72.5

Bank of Hemet Riverside 692 568 5.0 583 (33.8) 97.5 11.04 14.47 0.00 1.31 0.01 4,503 2.47 4.34 43.6

Bank of Hope Los Angeles 15,667 12,330 6.4 12,566 10.1 98.1 12.29 14.44 0.77 0.76 0.02 46,665 1.23 3.30 52.5

Bank of Santa Clarita Santa Clarita 304 235 9.9 232 (19.9) 101.4 12.21 15.56 0.54 1.00 0.00 658 0.87 3.21 59.0

Bank of Whittier NA Whittier 74 28 (30.3) 60 (1.0) 46.2 17.19 25.56 0.00 4.20 (0.13) 202 1.08 1.85 67.4

Broadway Federal Bank F.S.B. Los Angeles 438 401 38.5 301 24.5 133.3 11.56 18.29 1.08 0.79 (0.07) 92 0.09 2.78 87.9

California Business Bank Irvine 83 67 18.3 56 2.2 120.5 14.94 22.09 0.00 2.70 0.00 (163) (0.79) 3.76 118.5

California First National Bank Irvine 139 77 (87.9) 65 (37.5) 119.2 49.54 65.49 0.00 1.33 0.02 1,167 3.30 5.52 43.5

California Intl Bank NA Westminster 43 33 31.4 22 (33.0) 147.9 30.04 41.90 0.00 7.44 (0.02) (324) (2.95) 4.75 158.8

Calwest Bank Irvine 234 180 14.4 203 14.7 88.7 9.07 11.97 0.08 1.38 (0.03) 158 0.27 3.99 84.9

Cathay Bank Los Angeles 18,067 15,122 7.8 14,726 0.9 102.7 11.23 13.81 0.49 0.81 (0.06) 70,190 1.57 3.41 45.6

Chino Commercial Bank N.A. Chino 229 144 41.5 182 (13.2) 78.9 10.62 16.82 0.59 1.66 0.01 544 0.92 3.71 69.2

Citizens Bus. Bank Ontario 11,279 7,565 3.7 8,736 (4.1) 86.6 12.19 15.83 0.11 0.91 0.00 52,812 1.86 4.26 37.3

CommerceWest Bank Irvine 883 441 0.3 812 175.0 54.4 9.67 12.29 0.01 1.31 0.05 2,114 1.36 3.77 49.9

Commercial Bank of California Irvine 1,084 779 17.5 967 29.2 80.6 9.88 12.73 0.19 1.33 0.24 3,780 1.45 4.18 63.4

Commonwealth Business Bank Los Angeles 1,163 936 (4.8) 974 (6.5) 96.1 12.55 16.08 0.77 1.13 0.04 3,028 1.04 3.79 62.4

Source: S&P Global Market Intelligence, Most Recent Available Quarter 11 Southern California Region (2 of 3)

Community Commerce Bank Claremont 280 209 12.3 186 5.8 112.6 19.10 25.21 0.96 1.08 0.03 581 0.83 3.41 65.7

CTBC Bank Corp. (USA) Los Angeles 3,674 3,015 14.2 3,110 13.6 97.0 14.41 20.86 0.31 1.07 0.00 11,268 1.24 3.16 58.4

East West Bank Pasadena 44,182 34,779 8.9 37,526 7.3 92.7 10.28 13.91 0.43 1.03 0.10 191,898 1.73 3.51 43.0

Eastern International Bank Los Angeles 129 93 16.1 108 22.5 86.2 15.87 22.35 0.00 1.22 0.00 97 0.30 3.41 97.9

EH National Bank Beverly Hills 250 194 13.6 164 28.1 118.2 13.32 16.16 0.00 1.80 (0.14) 93 0.16 3.98 94.4

EverTrust Bank Pasadena 945 683 15.0 743 4.2 91.9 17.04 19.61 1.99 1.39 0.00 2,623 1.13 3.50 47.2

F&M Bank of Long Beach Long Beach 7,606 4,422 3.2 5,828 (1.4) 75.9 13.99 20.64 0.10 1.41 0.00 18,658 0.97 3.29 66.5

First Choice Bank Cerritos 1,690 1,382 16.2 1,314 (7.7) 105.2 12.01 14.03 0.57 0.98 0.01 6,126 1.45 4.93 52.2

First Credit Bank Los Angeles 435 276 (52.8) 228 (20.3) 121.0 44.59 55.62 0.00 3.18 0.00 8,489 7.63 8.43 (0.3)

First Foundation Bank Irvine 6,298 5,051 14.3 4,907 (21.5) 102.9 8.22 11.12 0.26 0.41 0.03 15,767 1.00 2.98 52.1

First General Bank Rowland Heights 977 906 (6.3) 795 (11.7) 113.9 14.23 17.81 0.18 0.91 0.00 4,680 1.90 3.99 36.5

Friendly Hills Bk Whittier 159 94 (34.7) 118 (5.4) 79.5 11.68 18.32 0.21 1.42 1.30 170 0.42 3.74 76.1

GBC International Bank Los Angeles 609 506 4.8 490 14.6 103.4 10.79 14.51 0.00 0.90 (0.01) 1,700 1.14 3.63 63.2

Golden State Bank Glendale 350 254 (5.4) 296 2.5 85.8 9.32 12.29 2.18 1.33 0.00 (98) (0.11) 4.14 105.6

Hanmi Bank Los Angeles 5,531 4,616 3.5 4,716 1.6 97.9 11.56 14.64 1.15 1.33 0.00 5,247 0.38 3.51 61.1

Infinity Bank Santa Ana 117 74 235.7 89 34.8 83.0 24.13 29.57 0.00 1.25 0.00 (407) (1.52) 4.10 115.3

International City Bank Long Beach 367 126 19.8 252 41.1 50.0 8.54 19.87 0.00 1.17 (0.12) 1,134 1.31 2.26 64.6

Malaga Bank F.S.B. Palos Verdes Estates 1,247 1,143 5.7 807 14.1 141.7 12.70 22.88 0.04 0.31 0.00 4,424 1.44 2.95 31.2

Manufacturers Bank Los Angeles 4,387 2,137 9.0 3,770 (13.1) 56.7 8.54 13.94 0.11 1.65 0.02 6,306 0.57 2.11 63.9

Mega Bank San Gabriel 390 292 32.2 325 64.1 90.0 11.91 18.03 0.00 1.03 0.00 5 0.01 2.42 101.8

Source: S&P Global Market Intelligence, Most Recent Available Quarter 12 Southern California Region (3 of 3)

Mission Valley Bank Sun Valley 355 266 29.2 306 20.4 87.0 11.74 15.52 0.32 1.40 0.60 767 0.86 4.66 67.1

Nano Banc Irvine 815 725 38.5 669 (76.4) 108.3 9.35 11.40 0.00 0.79 0.00 2,056 1.04 4.70 71.3

New OMNI Bank NA Alhambra 460 366 14.7 377 6.7 97.1 14.46 24.10 0.00 1.29 0.00 1,418 1.17 3.79 57.4

Open Bank Los Angeles 1,179 992 11.4 1,023 9.6 97.0 11.95 14.96 0.09 1.01 0.00 4,255 1.48 4.02 55.7

Opus Bank Irvine 7,992 5,901 6.8 6,484 12.9 91.0 9.70 15.08 0.07 0.69 0.11 20,289 1.03 2.77 60.8

Pacific Alliance Bank Rosemead 269 214 33.3 221 (14.5) 96.6 14.18 18.07 0.00 1.59 0.00 492 0.72 2.93 71.2

Pacific City Bank Los Angeles 1,746 1,453 17.7 1,482 13.2 98.0 13.06 16.71 0.20 0.99 0.78 4,286 1.00 3.99 51.8

Pacific Enterprise Bank Irvine 488 381 7.6 394 (19.4) 96.7 11.00 15.18 0.24 1.05 (0.03) 765 0.66 5.19 82.2

Pacific Mercantile Bank Costa Mesa 1,415 1,131 (11.7) 1,207 (4.5) 93.7 11.01 13.84 1.11 1.20 0.77 807 0.23 3.66 66.9

Pacific Premier Bank Irvine 11,778 8,724 (1.9) 8,927 1.7 97.7 12.39 13.83 0.10 0.41 0.11 44,490 1.54 4.55 49.0

Pacific Western Bank Beverly Hills 26,732 18,846 2.4 19,345 (10.0) 97.4 10.95 11.74 0.32 0.74 0.02 119,102 1.82 4.46 43.3

Partners Bank of California Mission Viejo 308 240 8.1 235 (10.0) 102.2 11.74 14.64 0.19 1.50 0.03 702 0.99 4.07 62.1

Preferred Bank Los Angeles 4,630 3,742 5.4 3,984 11.8 93.9 10.25 13.63 0.05 0.93 (0.01) 19,616 1.75 3.70 32.5

Provident SB F.S.B. Riverside 1,107 949 7.5 849 (0.1) 111.8 10.24 17.65 1.46 0.73 (0.01) 2,595 0.94 3.66 66.7

Royal Bus. Bank Los Angeles 2,783 2,371 (9.9) 2,285 (1.5) 103.8 15.23 21.86 0.20 0.79 0.20 12,127 1.73 3.79 41.6

Sunwest Bank Irvine 1,435 1,207 29.6 1,058 9.4 114.2 13.18 14.14 0.68 2.07 (0.01) 5,235 1.53 4.33 49.6

Tustin Community Bank Tustin 75 58 1.5 60 14.1 96.0 14.56 18.65 0.05 3.74 0.74 197 1.06 6.15 72.1

United Pacific Bank City of Industry 149 118 (5.3) 112 28.5 104.9 16.75 21.91 0.03 2.32 0.00 266 0.73 3.49 79.4

Average 3,531 2,673 10.1 2,822 4.5 95.8 14.03 19.11 0.33 1.45 0.08 12,567 1.04 3.79 64.5 Median 754 537 8.0 626 2.3 97.1 12.10 16.20 0.11 1.23 0.00 2,258 1.02 3.71 62.2

Source: S&P Global Market Intelligence, Most Recent Available Quarter 13 Southern Border Region

Axos Bank San Diego 11,551 10,182 11.9 10,149 38.7 100.3 9.16 12.25 0.52 0.58 0.18 45,235 1.66 4.08 43.8

Balboa T&LA Chula Vista 324 304 4.2 282 (2.6) 108.1 12.63 14.48 0.43 1.65 1.97 459 0.57 6.65 55.6

Bank of Southern California NA San Diego 830 677 (4.7) 672 (12.1) 100.7 12.81 16.23 0.12 0.79 (0.01) 1,636 0.80 4.04 67.0

C3bank National Association Encinitas 356 273 (5.9) 302 27.7 90.3 13.13 16.67 0.00 1.33 0.00 1,071 1.29 3.93 64.3

CalPrivate Bank La Jolla 1,066 886 31.5 854 12.5 103.7 10.61 12.58 0.00 0.97 0.00 2,256 0.88 4.64 69.2

Community Valley Bank El Centro 202 162 23.4 171 28.9 94.8 11.67 14.98 0.65 1.18 0.15 523 1.09 4.70 59.5

Endeavor Bank San Diego 125 101 85.6 101 17.2 100.1 14.76 15.47 0.00 1.72 0.00 (741) (2.49) 3.87 127.9

Home Bank of California San Diego 177 163 4.7 129 3.1 126.5 13.88 18.54 0.00 0.86 0.00 1,179 2.69 4.72 41.2

Neighborhood National Bank San Diego 67 43 (26.3) 50 (10.3) 87.1 17.24 29.03 0.33 2.82 (0.05) (609) (3.66) 4.19 165.6

Seacoast Commerce Bank San Diego 1,131 946 10.6 959 49.9 98.6 8.86 14.91 0.19 0.64 0.00 3,872 1.39 5.89 68.9

Average 1,583 1,374 13.5 1,367 15.3 101.0 12.48 16.51 0.22 1.25 0.22 5,488 0.42 4.67 76.3 Median 340 288 7.6 292 14.9 100.2 12.72 15.23 0.15 1.08 0.00 1,125 0.99 4.42 65.7

Source: S&P Global Market Intelligence, Most Recent Available Quarter 14 Recent Western Transactions

Sorted by date announced Terms of the Transaction Target Financials Deal Purchase Price to Core Dep. Total NPA/ TCE/ LTM Date Considr Value Tg. Bk Erngs Assets Premium Assets Assets TA ROAA Announced Buyer St. Seller City St. Type ($M) (%) (x) (%) (%) ($M) (%) (%) (%) 10/21/19 Bank of Southern California NACA CalWest Bancorp Rancho Santa Margarita CA Cash 32.0 182.5 NM 13.6 7.2 234.4 NA 7.44 0.67 09/30/19 Glacier Bancorp Inc. MT State Bank Corp Lake Havasu City AZ Mix 135.3 212.1 15.6 19.9 NA 678.6 NA 9.47 1.31 09/23/19 American Bancor Ltd. ND Beartooth Financial Corp. Billings MT Mix NA NA NM NA NA 46.7 1.21 17.06 1.11 08/09/19 Eagle Bancorp Montana Inc. MT Western Hldg Co. of Wolf Point Wolf Point MT Mix 13.5 119.1 16.1 13.4 3.5 100.2 0.00 10.95 1.28 07/24/19 Banner Corp. WA AltaPacific Bancorp Santa Rosa CA Mix 87.6 168.0 17.4 20.1 11.3 434.7 NA NA 1.23 07/03/19 Bridger Co. MT Valley Bk Glasgow/Frst Sec Bk Glasgow/Malta MT Cash NA NA NM NA NA 75.6 NA NA NA 06/03/19 American Bancor Ltd. ND Prairie Mountain Bank Great Falls MT Stock NA NA NM NA NA 93.7 0.86 10.67 1.18 05/28/19 Santa Cruz County Bank CA Lighthouse Bank Santa Cruz CA Stock 68.9 164.7 12.7 21.9 13.5 314.4 0.00 12.81 1.79 05/16/19 Heritage Commerce Corp CA Presidio Bank San Francisco CA Mix 197.6 202.8 15.3 21.8 14.2 906.1 0.41 10.22 1.49 04/03/19 Glacier Bancorp Inc. MT Heritage Bancorp Reno NV Mix 240.8 239.6 12.9 28.7 20.8 840.5 0.75 13.05 2.37 03/15/19 Mechanics Bank CA Rabobank NA Roseville CA Mix 2,100.0 156.9 14.5 15.1 8.2 13,870.1 1.91 9.85 1.07 01/31/19 Lewis & Clark Bank OR Clatsop Community Bank Seaside OR Mix 14.9 130.8 15.1 15.7 4.4 95.3 0.00 11.99 1.02

Max $2,100.0 239.6 17.4 28.7 20.8 $13,870.1 1.91 17.06 2.37 Min 13.5 119.1 12.7 13.4 3.5 46.7 0.00 7.44 0.67 Avg. 321.2 175.2 14.9 18.9 10.4 1,474.2 0.64 11.35 1.32 Median 87.6 168.0 15.2 19.9 9.8 274.4 0.58 10.81 1.23

Note: Transactions announced since 1/1/2019 Note: Includes whole bank transactions where 100% equity was acquired; Data as of February 3, 2020 Note: Most recent 20 transactions in the West; West consists of CA, ID, MT, NV, OR, WA, and WY Source: S&P Global Market Intelligence 15 II. OVERVIEW – JANNEY MONTGOMERY SCOTT LLC A Leading Middle Market Investment Bank…

. Janney has completed its 187th year of providing comprehensive financial advice By-the-Numbers and superior service to individuals, families, corporations and institutions – 12th largest U.S. brokerage firm 1832 Janney Founded – 2,091+ employees in 119 offices across 21 states 850 Financial Advisors . Janney continues to demonstrate profitability in times of market turbulence – LTM Revenue of $757 million 250+ Capital Markets Professionals – 94 total investment banking transactions representing more than $14.6 billion in aggregate transaction value in 2019 326 Companies Under Coverage – 125 consecutive quarters of profitability $97.5B Assets under Management . Janney’s strategy is focused on growth – 2019 Q4: 52 new professionals and 28 promoted 94 2018 Banking Transactions – Private Client Group: . 2019 YTD: Recruited 44 Financial Advisors with a total of $3.3 billion in assets 13 Capital Markets Offices under management at hire 14 Publishing Analysts – Capital Markets: . Recently acquired FIG Partners, an Atlanta-based investment banking and 6 Dedicated Industry Groups research firm focused on community banks 1 Firm Approach . Janney is an independent subsidiary of Penn Mutual, one of the largest and oldest mutual insurance companies in the U.S. – Assets of $25.8 billion and 2018 Revenue of $3.2 billion – Superior ratings profile: . Penn Mutual: S&P: A+ | Moody’s: Aa3 | KBRA: AA . Janney: KBRA: A+

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

17 … With the Benefit of Full-Service Capabilities

JANNEY’S CAPABILITIES JANNEY’S GEOGRAPHIC FOOTPRINT . Janney has 119 offices in over 21 states across the . 493 transactions aggregating over $65 billion United States Investment in transaction value since 2013 Banking . 6 targeted industry coverage sectors . Institutional sales force across 13 institutional offices with over 100 equity and fixed income sales Private Client . 850 financial advisors with approximately $97.5 professionals throughout Janney’s geographic Services billion of client assets under management footprint

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

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

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

Equity . 23 professionals covering 500+ accounts and Sales & Trading market makers in 1,300+ stocks

Equity . 33 person research team with 14 publishing Research analysts who combined cover 326 companies

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

18 A Comprehensive Investment Banking Platform

CAPITAL MARKETS INVESTMENT BANKING INDUSTRY GROUPS

Investment Business Financial Banking Equity Services Institutions Research

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

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

INVESTMENT BANKING SERVICES INVESTMENT BANKING PRODUCTS . Capital Markets – Initial Public Offerings – Subordinated Debt – Follow-on Offerings – Convertible Securities – – PIPEs & High-Grade and High-Yield Debt Share Repurchases Public / Private Mergers & Financial Registered – At-the-Market-Offerings (ATMs) Equity Acquisitions Sponsors Directs Coverage . Mergers & Acquisitions M&A and – Exclusive Sales & Exit Planning – Leveraged & Management Buyouts Equity / Debt Sponsor – Acquisition Advisory – Fairness Opinions & Corporate Defense Capital Markets Coverage . Private Placements Financial Proprietary – – PIPEs & Registered Directs Private Debt Senior / Mezzanine / Advisory & Deal – Private Equity – Convertible & Preferred Securities Structured Debt Junior Capital Restructuring Sourcing . Financial Advisory & Restructuring – Valuations – Loan Workouts & Debt Restructurings – Capital Structure Optimization – Distressed Asset Sales – Board Advisory & Dispute Services – Special Situations 19 Positioned to Deliver Results for Our Clients

Service offerings: Bulge Bracket Boutique

Highly experienced executives

“Hands-on” senior team

Resources of a large corporation

Full-service advisory practice

Advice free of conflicts

Committed to smaller clients

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

20 A Nationally Recognized Capital Raising Leader

. Since January 1, 2017, the Financial Institutions Capital Offerings League Tables < $1.0 Billion Assets¹ Group has helped raise more than $1.8 billion of Rank Advisor Number of Offerings equity capital, and more than $317 million of debt National capital, successfully completing 45 equity capital 1 Janney Montgomery Scott 67 raises and 17 debt capital raises 2 Piper / Sandler 48 3 Stifel / KBW 29

Capital Offerings League Tables < $50.0 Million Offered2 Capital Offerings League Tables < $1.0 Billion Assets¹ . The Financial Institutions Group has helped raise Number of more than $4.9 billion of equity capital, and more Rank Advisor Offerings than $845 million of debt capital, successfully National completing 148 equity capital raises and 38 debt 1 Piper / Sandler 103 2 Stifel / KBW 75 capital raises 3 Janney Montgomery Scott 73

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

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

(1) Preferred and common stock offerings from January 1, 2009 to February 7, 2020 (2) Preferred and common stock offerings from January 1, 2011 to February 7, 2020 21 Source: S&P Global Market Intelligence, Janney Montgomery Scott, LLC Strong History of Capital Raising Efforts

Date of Company State Symbol Offering/Role Offering Size Offering . Specialization Most Recent Janney FIG Group Capital Raises FFBW Inc. WI FFBW Lead Book Runner $42.7 M Jan-20 Investar Holding Corporation LA ISTR Lead Book Runner $30.0 M Dec-19 Janney is among the premier investment banking and capital markets PB Financial Corporation NC PBNC Sub Debt $12.0 M Dec-19 firms focused on serving the needs of small-cap financial institutions. Customers Bancorp, Inc. PA CUBI Sub Debt $65.0 M Dec-19 Bancorp South Bank MS BXS Co Manager $150.0 M Nov-19 Eureka Homestead Bancorp, Inc. LA ERKH IPO-Conversion $14.3 M Jul-19 . Institutional Distribution BankGuam Holding Company GU BKGM.F Sub Debt $15.0 M Jun-19 First Internet Bancorp IN INBK Sub Debt $35.0 M Jun-19 Our Equity Capital Markets team has excellent long-term relationships Home Bancorp Wisconsin, Inc. WI HWIS Sole Placement Agent $4.1 M Jun-19 Red River Bancshares, Inc. LA RRBI Lead Book Runner $31.1 M May-19 with leading institutions focused on investing in small- and mid-cap BankFirst Capital Corporation MS Private Sole Placement Agent $13.0 M Apr-19 United Bancorporation of Alabama, Inc. AL UBAB Sole Placement Agent $26.3 M Apr-19 banks. Victory Bancorp, Inc. PA VTYB Sub Debt $3.0 M Mar-19 First Southern Bank GA Private Sole Placement Agent $16.0 M Feb-19 . Accredited Investor and Retail Network FNCB Bancorp, Inc. PA FNCB Lead Manager $23.0 M Feb-19 Mercantil Bank Holding Corporation FL AMTB Co-Manager $81.9 M Dec-18 Grand Mountain Bancshares, Inc. CO GMBB Sub Debt $1.5 M Dec-18 Janney has a deep stable of high net worth and home office investors Embassy Bancshares, Inc. GA Private Sub Debt $5.0 M Dec-18 GrandSouth Bancorporation SC GRRB Sub Debt $10.0 M Nov-18 to ensure success on smaller market cap names. Pilot Bancshares, Inc. FL PLBN Sole Placement Agent $10.0 M Oct-18 Revere Bank MD REVB Co-Manager $47.1 M Sep-18 . After Market Support HarborOne Bancorp, Inc. (MHC) MA HONE Sub Debt $35.0 M Aug-18 Select Bancorp, Inc. NC SLCT Sole Book Runner $63.3 M Aug-18 MainStreet Bancshares, Inc. VA MNSB Sole Placement Agent $45.0 M Aug-18 Our Sales and Trading desk is a leading market maker in small-cap Freedom Bancorp, Inc. NJ Private Sub Debt $12.0 M Jun-18 stocks, often trading far more shares than any of the other financial Citizens Community Bancorp, Inc. WI CZWI Senior Placement Agent $65.0 M Jun-18 First Mid-Illinois Bancshares, Inc. IL FMBH Lead Book Runner $36.0 M Jun-18 institution “boutique” firms. First Internet Bancorp, Inc. IN INBK Co-Manager $57.5 M Jun-18 Studio Bank TN Private Sole Placement Agent $46.0 M Jun-18 BayCom Corp. CA BCML Lead Book Runner $72.1 M May-18 . Research Capabilities Gateway Bank, F.S.B. CA Private Sole Placement Agent $10.5 M May-18 Porter Bancorp, Inc. KY PBIB Financial Advisor $15.0 M Mar-18 Janney FIG Research team is a leading provider to community banks Village Bank and Trust Financial Corp. VA VBFC Sub Debt $5.7 M Mar-18 SB Financial Group, Inc. OH SBFG Sole Book Runner $30.0 M Feb-18 with coverage of over 100 banks, mostly small-cap, throughout the First Capital Bancshares, Inc. NC FCPB Financial Advisor $30.0 M Feb-18 entire nation. Ben Franklin Financial, Inc. IL BFFI Sole Placement Agent $4.5 M Feb-18 McHenry Bancorp, Inc. IL Private Sole Placement Agent $23.0 M Jan-18 Coastal Bank & Trust NC Private Sole Placement Agent $8.0 M Jan-18 . Experienced Deal Team First Bancshares, Inc. MS FBMS Co-Manager $58.4 M Oct-17 Eagle Bancorp Montana, Inc. MT EBMT Co-Manager $21.7 M Oct-17 FFBW, Inc. WI FFBW Sole Placement Agent $29.5 M Oct-17 We will devote significant investment banking resources to ensure the Gold Coast Bancorp NY GLDT Sub Debt $13.5 M Sep-17 highest level of execution. Our investment bankers have a tremendous Fidelity Financial Corporation KS Private Sub Debt $42.0 M Sep-17 Pilot Bancshares, Inc. FL PLBN Sole Placement Agent $7.5 M Sep-17 amount of experience leading equity capital transactions for our clients. First Internet Bancorp IN INBK Co-Manager $55.0 M Sep-17

22 A Nationally Recognized, Leading Bank M&A Advisor

. Since January 1, 2017, the Financial U.S. Bank M&A Advisory League Tables1 Number of Institutions Group in place has advised Rank Advisor Transactions on 61 M&A transactions, totaling Since January 1, 2017 approximately $5.3 billion in 1 Piper / Sandler 186 transaction value 2 Stifel / KBW 126 . The Financial Institutions Group has 3 Hovde Group, LLC 70 advised on 136 M&A transactions, totaling more than $8.5 billion in 4 Janney Montgomery Scott 61 transaction value 5 D.A. Davidson & Co. 48

$86 Million $875 Million $81 Million $261 Million $834 Million

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

Financial Advisor Financial Advisor Financial Advisor Financial Advisor Financial Advisor August 2019 July 2019 July 2019 January 2019 January 2019

(1) Data as of February 7, 2020 Note: Completion metrics shown unless unavailable Source: S&P Global Market Intelligence, Janney Montgomery Scott, LLC 23 Historical Whole Bank Transactions Advised by FIG Group

The Financial Institutions Group has advised on 136 community bank deals Nationwide This represents over $8.5 billion in deal value

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

2/7/2020 SB Financial Group, Inc. Edon State Bank Company of Edon OH 15.5 61.8 05/18/18 Citizens Bancshares Corporation Regional Bankshares Inc. 11.3 117.0 1/21/2020 Pinnacle Bankshares Corp. Virginia Bank Bankshares Inc. 29.0 221.4 05/13/18 Cadence Bancorporation State Bank Finl Corp. 1,373.7 4,892.3 1/14/2020 Bristol County Savings Bank Freedom National Bank 20.0 123.0 05/10/18 Stifel Financial Corp. Bus. Bancshares Inc. 127.4 619.5 12/20/2019 Investar Holding Corp. Cheaha Financial Group Inc. 41.1 206.7 04/23/18 RBB Bancorp First American Intl Corp 116.8 873.4 12/17/2019 Bangor Bancorp, MHC Damariscotta Bankshares Inc. 35.0 193.3 04/19/18 Premier Financial Bancorp, Inc. First Bank of Charleston Inc. 27.8 189.2 11/4/2019 BayCom Corp Grand Mountain Bancshares Inc. 13.9 130.6 03/14/18 HarborOne Bancorp, Inc. (MHC) Coastway Bncp, Inc. 125.6 738.9 10/21/2019 Banc of Southern California CalWest Bancorp 32.0 234.4 12/20/17 Heritage Commerce Corp Tri-Valley Bank 31.1 147.2 9/18/2019 Citizens Financial Services MidCoast Community Bancorp 31.2 268.5 12/13/17 South Atlantic Bancshares, Inc. Atlantic Bancshares Inc. 18.1 87.0 9/6/2019 RBB Bancorp PGB Holdings 33.0 223.3 12/11/17 Union Savings and Loan Association Hibernia Bancorp Inc 28.0 136.5 8/12/2019 Professional Holding Corp. Marquis Bancorp, Inc. 86.3 680.3 12/11/17 First Mid-Illinois Bancshares, Inc. First BancTrust Corp. 73.8 465.6 7/31/2019 Investar Holding Corp. Bank of York 15.0 99.5 10/24/17 Bangor Bancorp, MHC First Colebrook Bancorp Inc. 45.0 262.4 07/22/19 First Bancshares, Inc. First Florida Bancorp Inc. 85.0 451.0 09/27/17 Old Line Bancshares, Inc. Bay Bancorp Inc. 127.6 645.9 07/16/19 Corporate America Family Credit Union Ben Franklin Financial Inc. 14.2 97.8 09/18/17 First American Bank Corporation Southport Financial Corp. 44.0 285.3 07/01/19 BayCom Corp TIG Bancorp 39.4 228.9 08/16/17 National Commerce Corporation FirstAtlantic Finl Hldgs Inc 107.9 462.4 06/18/19 Verve Credit Union South Central Bank NA -- 295.9 08/01/17 PB Financial Corporation CB Financial Corp. 11.2 106.8 05/28/19 Santa Cruz County Bank Lighthouse Bank 68.9 314.4 07/21/17 Delmar Bancorp Liberty Bell Bank 16.8 147.8 05/21/19 Citizens Holding Company Charter Bank 20.0 160.5 06/28/17 Bank of McKenney CCB Bankshares Inc. 19.0 216.1 05/08/19 Southern States Bancshares, Inc. East Alabama Financial Group, Inc. -- 241.1 06/26/17 BayCom Corp. Plaza Bank 10.6 69.7 03/19/19 First Bank Grand Bank NA 19.4 196.9 06/01/17 Charter Financial Corporation Resurgens Bancorp 26.3 166.8 01/22/19 Citizens Community Bancorp, Inc. F. & M. Bancorp of Tomah Inc. 21.6 194.6 05/04/17 Trona Valley Community Federal Credit Union State Bank -- 37.0 12/20/18 CCF Holding Company Heritage Bncp, Inc./ Providence Bk 105.0 628.7 05/04/17 Seacoast Banking Corporation of Florida Palm Beach Community Bank 71.3 346.0 12/17/18 Ameris Bancorp Fidelity Southern Corp. 750.7 4,812.1 04/24/17 Sierra Bancorp OCB Bancorp 35.5 270.3 12/13/18 Delmar Bancorp Virginia Partners Bank 55.1 420.1 03/28/17 FNS Bancshares, Inc. Commerce Bancshares Inc. 21.8 159.1 12/12/18 Morris State Bancshares, Inc. FMB Equibanc Inc. 23.6 193.0 03/17/17 Citizens Community Bancorp, Inc. Wells Financial Corp. 40.2 268.5 12/10/18 BayCom Corp Uniti Financial Corp. 63.9 325.4 02/17/17 West Town Bancorp, Inc. Sound Banking Co. 22.9 185.3 11/15/18 BankFirst Capital Corporation FNB Bcshs of Central AL Inc. 47.4 273.2 02/06/17 First Busey Corporation First Community Finl Partners 242.0 1,268.2 09/13/18 Park National Corporation CAB Financial Corp. 141.8 730.7 12/15/16 BayCom Corp. First ULB Corp. 36.9 452.6 08/23/18 Lakeland Bancorp, Inc. Highlands Bancorp Inc. 56.7 487.9 12/13/16 Southern National Bancorp of Virginia, Inc. Eastern Virginia Bankshares 180.9 1,314.9 08/22/18 First Busey Corporation Banc Ed Corp. 304.9 1,853.1 11/15/16 Little Bank, Inc. Union Banc Corp. 30.7 299.5 08/13/18 BayCom Corp Bethlehem Financial Corp 23.5 156.8 11/03/16 Bay Banks of Virginia, Inc. Virginia BanCorp Inc. 31.6 323.6 07/24/18 First Bancshares, Inc. FMB Banking Corp. 80.0 480.4 10/20/16 Independent Bank Corp. Island Bancorp Inc 24.5 194.1 06/21/18 Citizens Community Bancorp, Inc. United Bank 50.7 280.8 07/01/16 North Shore Bank, FSB Layton Park Financial Grp Inc 5.7 122.9 06/15/18 Carolina Trust BancShares, Inc. Clover Community Bkshs Inc. 21.5 130.2 06/08/16 Farmers & Merchants Bancorp Delta National Bancorp 7.2 106.0 06/12/18 First Mid-Illinois Bancshares, Inc. SCB Bancorp Inc. 70.4 437.8 05/12/16 Coastal Carolina Bancshares, Inc. VistaBank 12.2 110.1 06/07/18 First Midwest Bancorp, Inc. Northern States Financial Corp 91.0 487.1 04/26/16 First Mid-Illinois Bancshares, Inc. First Clover Leaf Fin Corp. 89.5 636.9

Note: Data as of February 7, 2020 Source: S&P Global Market Intelligence, Janney Montgomery Scott, LLC 24 Recent Financial Institutions Group Transactions

Agreed to be Acquired Subordinated Debt Offering Agreed to Acquire Agreed to Merge with Second Step Mutual by $12,000,000 Holding Conversion 5.375% Fixed to Floating Sole Marketing Agent Rate & Financial Advisor Financial Advisor Financial Advisor Financial Advisor Sole Placement Agent February 2020 January 2020 January 2020 January 2020 December 2019

Agreed to Purchase 3 Subordinated Debt Offering Agreed to Acquire Private Placement of Branches from Agreed to Acquire $65,000,000 Common Stock 5.375% Fixed to Floating $30,000,000 Rate Lead Book Runner Joint Book Runner Financial Advisor Financial Advisor Financial Advisor December 2019 December 2019 December 2019 December 2019 December 2019

Preferred Stock Offering Agreed to be Acquired $150,000,000 Agreed to be Acquired Agreed to be by by Agreed to Acquire 5.50% Series A Non- Acquired by Cumulative

Co-Manager Financial Advisor Financial Advisor Financial Advisor Financial Advisor November 2019 November 2019 October 2019 September 2019 September 2019

Note: Dates are as of announcement date for M&A transactions, unless noted otherwise 25 Disclaimer

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

26 Financial Institutions Group