Exhibit 99.2
| INVESTOR PRESENTATION First Quarter 2026 |
| 2 CAUTIONARY STATEMENTS This presentation contains “forward-looking statements” within the meaning of, and subject to the protections of, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In addition, certain statements may be contained in Colony Bankcorp, Inc.’s (the “Company” or “Colony”) future filings with the Securities and Exchange Commission (the “SEC”), in press releases, and in oral and written statements made by or with the approval of the Company that are not statements of historical fact and constitute “forward-looking statements” within the meaning of, and subject to the protections of, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Examples of forward-looking statements include, but are not limited to: (i) projections and/or expectations of revenues, income or loss, earnings or loss per share, the payment or nonpayment of dividends, capital structure and other financial items; (ii) statement of plans and objectives of Colony Bankcorp, Inc. or its management or Board of Directors, including those relating to products or services; (iii) statements of future economic performance; (iv) statements regarding growth strategy, capital management, liquidity and funding, and future profitability; (v) statements relating to the timing, benefits, costs, and synergies of the recently completed acquisition of TC Bancshares, Inc. (“TC Bancshares”) (the “Merger”), and (vi) statements of assumptions underlying such statements. Words such as “may”, “will”, “anticipate”, “assume”, “should”, “support”, “indicate”, “would”, “believe”, “contemplate”, “expect”, “estimate”, “continue”, “further”, “plan”, “point to”, “project”, “could”, “intend”, “target” and similar expressions are intended to identify forward-looking statements but are not the exclusive means of identifying such statements. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve known and unknown risks and uncertainties. Factors that might cause such differences include, but are not limited to: the impact of current and future economic conditions, particularly those affecting the financial services industry, including the effects of declines in the real estate market, tariffs or trade wars (including the resulting reduced consumer spending, lower economic growth or recession, reduced demand for U.S. exports, disruptions to supply chains, and decreased demand for other banking products and services), high unemployment rates, inflationary pressures, changes in interest rates (including the impact of volatile interest rates on our financial projections and models) and slowdowns in economic growth, as well as the financial stress on borrowers as a result of the foregoing; the risk of reductions in benchmark interest rates and the resulting impacts on net interest income; potential impacts of adverse developments in the banking industry highlighted by high-profile bank failures, including impacts on customer confidence, deposit outflows, liquidity and the regulatory response thereto; risks arising from negative media coverage and perceived instability in the banking industry and the banking sector; the risks of changes in interest rates and their effects on the level, cost, and composition of, and competition for, deposits, loan demand and timing of payments, the values of loan collateral, securities, and interest sensitive assets and liabilities; the ability to attract new or retain existing deposits, to retain or grow loans or additional interest and fee income, or to control noninterest expense; the effect of pricing pressures on the Company’s net interest margin; the failure of assumptions underlying the establishment of reserves for possible credit losses, fair value for loans and other real estate owned; changes in real estate values; the Company’s ability to implement its various strategic and growth initiatives; increased competition in the financial services industry, particularly from regional and national institutions, as well as fintech companies and other non-bank financial service providers offering digital, automated or alternative financial products and services; economic conditions, either nationally or locally, in areas in which the Company conducts operations being less favorable than expected; changes in the prices, values and sales volumes of residential and commercial real estate; developments in our mortgage banking business, including loan modifications, general demand, and the effects of judicial or regulatory requirements or guidance; legislation or regulatory changes which adversely affect the ability of the consolidated Company to conduct business combinations or new operations; adverse results from current or future litigation, regulatory examinations or other legal and/or regulatory actions, including as a result of the Company’s participation in and execution of government programs, those related to credit card interest rates, and legislative, regulatory or supervisory actions related to so-called "de-banking," including any new prohibitions, requirements or enforcement priorities that could affect customer relationships, compliance obligations, or operational practices; significant turbulence or a disruption in the capital or financial markets and the effect of a fall in the stock market prices on our investment securities; significant volatility in the markets for equity, fixed income and other asset classes globally or within specific markets; the effects of |
| 3 CAUTIONARY STATEMENTS war or other conflicts, including the ongoing conflicts in the Middle East; major political shifts domestically or internationally (including the potential for retaliatory actions by governments, market participants or clients based on diverging perspectives or otherwise and, separately, the recent shutdown of the U.S. federal government); general risks related to the Company's merger and acquisition activity, Including risks associated with integrating and realizing the expected financial benefits of previous or pending acquisitions, and the Company’s pursuit of future acquisitions; risks associated with the Merger, including (a) the risk that the cost savings and any revenue synergies may not be realized or take longer than anticipated to be realized, (b) disruption with customers, suppliers, employee or other business partners relationships, (c) the risk of successful integration of TC Bancshares' business into the Company, (d) the risk of successful integration of TC Bancshares’ business into the Company, (e) the reaction of each of the Company's and TC Bancshares' customers, suppliers, employees or other business partners to the Merger, (f) the risk that the integration of TC Bancshares' operations into the operations of the Company will be materially delayed or will be more costly or difficult that expected, (g) the timing and achievement of expected cost reductions following the Merger, and (h) the timing and achievement of the recovery of the reduction of tangible book value resulting from the Merger; general competitive, economic, political, and market conditions; the impact of emerging technologies, such as generative artificial intelligence; fraud or misconduct by internal or external actors, and system failures, cybersecurity threats or security breaches and the cost of defending against them; a deterioration of the credit rating for U.S. long-term sovereign debt, actions that the U.S. government may take to avoid exceeding the debt ceiling, and uncertainties surrounding debt ceiling and the federal budget; and general competitive, economic, political and market conditions or other unexpected factors or events. These and other factors, risks and uncertainties could cause the actual results, performance or achievements of the Company to be materially different from the future results, performance or achievements expressed or implied by such forward-looking statements. Many of these factors are beyond the Company’s ability to control or predict. Forward-looking statements speak only as of the date on which such statements are made. These forward-looking statements are based upon information presently known to the Company’s management and are inherently subjective, uncertain and subject to change due to any number of risks and uncertainties, including, without limitation, the risks and other factors set forth in the Company’s filings with the Securities and Exchange Commission, the Company’s Annual Report on Form 10-K for the year ended December 31, 2024, under the captions “Cautionary Note Regarding Forward-Looking Statements” and “Risk Factors,” and in the Company’s quarterly reports on Form 10-Q and current reports on Form 8-K. The Company undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made, or to reflect the occurrence of unanticipated events, except as required by applicable law. Readers are cautioned not to place undue reliance on these forward-looking statements. |
| 4 NON-GAAP FINANCIAL MEASURES Statements included in this presentation include non-GAAP financial measures and should be read along with the accompanying tables, which provide a reconciliation of non-GAAP financial measures to GAAP financial measures. The non-GAAP financial measures used in this presentation include the following: operating noninterest income, operating noninterest expense, operating net income, operating earnings per diluted share, operating return on average assets, operating return on average equity, operating return on average tangible equity, tangible book value per common share, tangible equity to tangible assets, operating efficiency ratio, operating net noninterest expense to average assets and pre-provision net revenue. The most comparable GAAP measures are noninterest income, noninterest expense, net income, diluted earnings per share, return on average assets, return on average equity, book value per common share, total equity to total assets, efficiency ratio, net noninterest expense to average assets and net interest income before provision for credit losses, respectively. Operating noninterest income excludes loss on sales of securities. Operating noninterest expense excludes severance costs, acquisition-related expenses and loss related to wire fraud incident. Operating net income, operating return on average assets, operating return on average equity, operating return on average tangible equity and operating efficiency ratio all exclude severance costs, acquisition-related expenses, loss on sales of securities, and loss related to wire fraud incident from net income, return on average assets, return on average equity and efficiency ratio, respectively. Operating net noninterest expense to average assets ratio excludes from net noninterest expense, severance costs, acquisition-related expenses, loss on sales of securities, and loss related to wire fraud incident. Acquisition-related expenses includes fees associated with acquisitions and vendor contract buyouts. Severance costs includes costs associated with termination and retirement of employees. Operating earnings per diluted share includes the adjustments to operating net income. Tangible book value per common share, tangible equity to tangible assets and operating return on average tangible equity exclude goodwill and other intangibles from book value per common share, total equity to total assets and return on average equity, respectively. Pre-provision net revenue is calculated by adding noninterest income to net interest income before provision for credit losses, and subtracting noninterest expense. Management uses these non-GAAP financial measures in its analysis of the Company's performance and believes these presentations provide useful supplemental information, and a clearer understanding of the Company’s performance, and if not provided would be requested by the investor community. The Company believes the non-GAAP measures enhance investors' understanding of the Company's business and performance. These measures are also useful in understanding performance trends and facilitate comparisons with the performance of other financial institutions. The limitations associated with operating measures are the risk that persons might disagree as to the appropriateness of items comprising these measures and that different companies might calculate these measures differently. Non-GAAP financial measures should not be considered as an alternative to any measure of performance or financial condition as promulgated under GAAP, and investors should consider Colony Bankcorp, Inc. performance and financial condition as reported under GAAP and all other relevant information when assessing the performance or financial condition of Colony Bankcorp, Inc. Non-GAAP financial measures have limitations as analytical tools, and investors should not consider them in isolation or as a substitute for analysis of the results or financial condition as reported under GAAP. |
| 5 • $3.7 billion in assets as of March 31, 2026 • 37 locations in Georgia, 1 in Alabama and 5 in Florida • Diversified and scalable revenue streams • Proven history of consistent organic growth • Strong core deposit funding COMPANY PROFILE |
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| 8 Name Position Years In Banking Years With Colony T. Heath Fountain Chief Executive Officer 26 7 R. Dallis "D" Copeland, Jr. President 34 4 Derek Shelnutt EVP, Chief Financial Officer 12 5 Edward "Lee" Bagwell EVP, Chief Risk Officer and General Counsel 22 22 Leonard H. "Lenny" Bateman EVP, Chief Credit Officer 29 18* Ed Canup EVP, Chief Banking Officer 43 3 Kimberly Dockery EVP, Chief of Staff 19 7 Daniel Rentz EVP, Chief Information Officer 19 19 Laurie Senn EVP, Chief Administrative Officer 23 5 Greg Eiford EVP, Chief Community Banking Officer 17 17* *Executives joining Colony through mergers include prior organization service EXECUTIVE LEADERSHIP TEAM |
| 9 FIRST QUARTER FINANCIAL HIGHLIGHTS • Operating net income(1) of $9.5 million • Sixth consecutive quarter of net interest margin expansion to 3.48% • Operating return on average assets(1) of 1.04% • Operating earnings per share(1) of $0.45 • Operating return on average equity(1) of 10.13% and operating return on average tangible equity(1) of 12.49% • Loans increased $32.2 million • Decrease in total deposits of $19.1 million • 1.73% cost of deposits • Operating net noninterest expenses to average assets(1) of 1.68% • Tangible book value per common share(1) of $14.65 Reported Operating(1) Net Income ($mm) $8.20 $9.49 Earnings Per Share $0.39 $0.45 Return on Average Assets 0.90% 1.04% Return on Average Total Equity 8.77% 10.13% Return on Average Tangible Equity 10.80% 12.49% Net Interest Margin 3.48% 3.48% (1) Non-GAAP financial measure. See non-GAAP reconciliations within this presentation. |
| 10 QUARTERLY FINANCIAL HIGHLIGHTS (1) Non-GAAP financial measure. See non-GAAP reconciliations within this presentation. $ in thousands, except per share data 1Q26 4Q25 1Q25 Net Income $8,204 $7,843 $6,613 Operating net income(1) $9,485 $8,905 $6,613 Earnings per share $0.39 $0.42 $0.38 Operating earnings per share(1) $0.45 $0.48 $0.38 Pre-Provision Net Revenue(1) $12,221 $11,203 $9,775 Operating Pre-Provision Net Revenue(1) $13,858 $12,534 $9,775 Return on average assets 0.90% 0.93% 0.85% Operating return on average assets(1) 1.04% 1.05% 0.85% Net interest margin 3.48% 3.32% 2.93% Operating net noninterest expense to average assets(1) 1.68% 1.58% 1.44% Book value per common share $17.98 $17.69 $16.41 Tangible book value per common share(1) $14.65 $14.31 $13.46 • Increase in earnings led by another consecutive quarter of net interest margin expansion • Continued increase in Operating Pre-Provision Net Revenue(1) • Consistent growth in tangible book value per common share(1) • Sustained operating efficiency by maintaining net noninterest expense to average assets below peer median |
| 11 DELIVERING SHAREHOLDER VALUE (1) Non-GAAP financial measure. See non-GAAP reconciliations within this presentation. $0.38 $0.46 $0.47 $0.48 $0.45 1Q25 2Q25 3Q25 4Q25 1Q26 Operating Earnings Per Share(1) $6.6 $8.0 $8.2 $8.9 $9.5 1Q25 2Q25 3Q25 4Q25 1Q26 Operating Net Income in million(1) 0.85% 1.02% 1.06% 1.05% 1.04% 1Q25 2Q25 3Q25 4Q25 1Q26 Operating Return on Average Assets(1) 2.93% 3.12% 3.17% 3.32% 3.48% 1Q25 2Q25 3Q25 4Q25 1Q26 Net Interest Margin 7.54% 7.81% 8.00% 8.30% 8.49% 1Q25 2Q25 3Q25 4Q25 1Q26 Tangible Equity to Tangible Assets(1) |
| 12 OBJECTIVES AND FOCUS • Achieve performance objectives in complementary lines of business • Maintain noninterest expense discipline to align with growth expectations • Achieve return on assets target of 1.20% • Focus on growing core deposits and customer relationships • Growing wallet share and revenue per customer using data advancements Short-Term Objectives Long-Term Objectives • 5 complementary lines of business > $1 million in net income • Improve efficiency through economies of scale • Return on assets in top quartile of peers • Continue to benefit from industry consolidation • Grow our customer base by 8 - 12% per year |
| 13 ORGANIC GROWTH • Presence in dynamic growth markets of Atlanta, Augusta, Birmingham, Jacksonville, Tallahassee, the Florida Panhandle, and Savannah provides opportunity for above average growth • Second-tier MSA markets of Albany, Columbus, Macon, Valdosta, and Tifton have significant market share held by large regional and national banks, creating the opportunity for growth in market share • Smaller markets where Colony has stable deposits and significant market shares creates the opportunity to grow insurance, wealth management and other complementary lines of business • Industry consolidation is creating favorable opportunities for us to leverage our scale, strengthen market position, and drive disciplined growth. • Utilization of data improves the effectiveness of marketing and business development activity • Proactive calling effort by bankers, including executive and senior management, to develop new business and deepen relationships • Long term organic growth target of 8 - 12% |
| 14 M&A STRATEGY • Colony seeks to benefit from industry consolidation and become the acquirer of choice in Georgia and contiguous states • 358 banks under $1 billion • 76 banks between $1 billion and $2.5 billion • Proactive outreach effort to generate opportunities • Management team with deep M&A experience |
| 15 EFFICIENCY AND SCALING • Focused on process improvement and ensuring it is easy to do business with Colony Bank • Hired a Director of Optimization with experience from a large regional bank to oversee process improvement and customer experience • Utilization of Robotic Process Automation ("RPA") and other innovative technology to improve the customer experience • Leveraging AI to streamline workflows, reduce manual processes, and scale operations efficiently • Implementation of cross functional teams to reduce friction and improve the customer experience • Building operational capacity in order to maintain efficiency through organic growth and M&A |
| 16 INNOVATION AND DATA STRATEGY • Investing in Innovation: Participating in fintech funds that connect us with leading technology partners and emerging solutions shaping the future of banking • Expanding Through Fintech Partnerships: Partnering with innovative fintechs to deliver modern products and services that allow us to compete with regional and national banks • Building a Data-Driven Foundation: Implementing a data warehouse to unify information across the organization and deliver smarter, faster decisions • Turning Insights into Growth: Leveraging data and advanced analytics to deepen relationships and drive targeted market disruption campaigns • Enhancing the Customer Experience: Using technology to deliver greater convenience while maintaining the personal touch that defines us |
| 17 COMPLEMENTARY LINES OF BUSINESS 1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026 (Dollars in thousands) Pre-tax Profit/Loss Pre-tax Profit/Loss Pre-tax Profit/Loss Pre-tax Profit/Loss Pre-tax Profit/Loss Mortgage $ 31 $ 317 $ (153) $ 382 $ 222 SBSL 492 362 362 672 95 Marine/RV Lending 236 349 448 538 459 Merchant Services (14) 25 99 116 120 Colony Financial Advisors 35 35 80 66 103 Colony Insurance 66 67 94 (31) 104 TOTAL $ 846 $ 1,155 $ 930 $ 1,743 $ 1,103 |
| 18 SMALL BUSINESS SPECIALTY LENDING GROUP (Dollars in millions) Production and Sales Volume Loan Portfolio Breakdown - $83.3 million $15.4 $15.8 $28.4 $29.1 $13.1 $12.1 $17.9 $18.2 $16.8 $10.4 1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026 Production Sales |
| 19 MORTGAGE DIVISION (Dollars in millions) • Stable production and sales volumes relative to changing market rates • Remain focused on secondary market products and gain on sale of mortgage loans • Continue to adjust staffing levels, delivery models and product set to maintain profitability Production and Sales Volume $72.0 $94.9 $87.3 $89.5 $88.5 $55.9 $65.3 $65.1 $68.1 $61.4 1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026 Production Sales |
| 20 COLONY FINANCIAL ADVISORS (Dollars in millions) Experienced and knowledgeable team Our financial advisor team is well established and experienced, further strengthened by the recent addition of two seasoned advisors who bring deep client relationships and proven advisory expertise. Attractive opportunities for growth in key markets of Atlanta, Jacksonville, Savannah, and Tallahassee Investing in talent to drive long-term growth and performance Focused on attracting and recruiting top financial advisors to continue building a strong, experienced team that drives client growth, deepens relationships, and supports long-term business line performance. $198 $219 $206 $462 $555 1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026 Assets Under Management |
| 21 COLONY INSURANCE • Premium rate increases have presented some retention challenges, though moderation in rate adjustments is expected during 2026 • Investment in both internal and external lead generation to support consistent growth • Bank referrals increased 20% in 2025, reflective of improved team coordination and a sales-focused culture (1) The Company acquired the Ellerbee Insurance Agency on April 1, 2025. 11,756 21,102 20,596 20,309 20,072 1Q 2025 2Q 2025(1) 3Q 2025 4Q 2025 1Q 2026 Items In Force $18.9 $34.2 $34.6 $34.4 $34.2 1Q 2025 2Q 2025(1) 3Q 2025 4Q 2025 1Q 2026 Premiums In Force (Dollars in millions) |
| 22 The current indicated annual rate is $0.48 per share, equating to a yield of 2.3%.(2) SHAREHOLDER FOCUSED DIVIDEND POLICY (1) The Board of Directors declared a dividend to be paid on its common stock on May 20, 2026, to shareholders of record as of the close of business on May 6, 2026. (2) Yield is based on closing stock price on April 20, 2026 of $21.23. $0.1075 $0.1100 $0.1125 $0.1150 $0.1200 2022 2023 2024 2025 2026(1) Quarterly Dividend Payment |
| 23 CAPITAL RATIOS 9.4% 9.6% 9.9% 10.8% 9.8% 13.8% 13.4% 13.4% 13.6% 13.4% 16.5% 16.1% 16.0% 16.0% 15.8% 12.6% 12.3% 12.4% 12.7% 12.5% 1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026 Tier One Leverage Ratio Tier One Ratio Total Risk-based Capital Ratio Common Equity Tier One Capital Ratio |
| 24 STRENGTH IN OUR LIQUIDITY POSITION Significant liquidity sources (dollars in millions) FRB Reserves $ 242.8 Other Cash and Due from Banks 51.6 Unencumbered Securities 369.9 FHLB Borrowing Capacity 921.2 Fed Fund Lines 143.0 FRB Discount Window 121.8 Total Liquidity Sources $ 1,850.3 Debt Funding* (dollars in millions) *Reported as of last day of each period As of March 31, 2026 $24.2 $24.2 $24.2 $24.2 $24.2 $38.8 $38.9 $38.9 $38.9 $38.9 $185.0 $185.0 $185.0 $195.0 $195.0 1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026 Trust Preferred Securities Subordinated Debentures FHLB Borrowings |
| 25 ANNUAL NONINTEREST INCOME MIX 35% 30% 31% 34% 30% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% 2021 2022 2023 2024 2025 Service Charges & Fees Mortgage Loans & Related Fees SBA & Related Fees Insurance Division Merchant Services Wealth Management Interchange Income Other Total Non Int Inc/Total Income |
| 26 QUARTERLY NONINTEREST INCOME MIX 30% 31% 31% 30% 27% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% 1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026 Service Charges & Fees Mortgage Loans & Related Fees SBA & Related Fees Insurance Division Merchant Services Wealth Management Interchange Income Other Total Non Int Inc/Total Income |
| 27 ANNUAL DEPOSIT MIX AND PRICING 0.19% 0.32% 1.76% 2.42% 2.15% 2021 2022 2023 2024 2025 Noninterest-bearing Interest-bearing Savings/money market Time Cost of interest-bearing deposits |
| 28 QUARTERLY DEPOSIT MIX AND PRICING 2.22% 2.18% 2.14% 2.07% 2.05% 1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026 Noninterest-bearing Interest-bearing Savings/money market Time Cost of interest-bearing deposits |
| 29 DEPOSIT BALANCE DATA • Commercial/business is 15.1% of accounts and represents 42.1% of total deposits balance • Consumer is 84.9% of accounts and represents 57.9% of total deposits balance As of March 31, 2026 (excludes brokered and reciprocal deposits) (Dollars in thousands) $13.2 $12.9 $13.2 $14.6 $14.3 $22.2 $21.5 $21.3 $22.9 $21.9 $39.1 $39.4 $38.4 $39.9 $41.7 $52.0 $52.8 $53.4 $55.8 $56.4 1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026 AVERAGE DEPOSIT BALANCE PER ACCOUNT Noninterest-bearing Interest-bearing Savings/money market Time |
| 30 DIVERSITY OF BUSINESS DEPOSIT BASE As determined by customer provided NAICS Codes As of March 31, 2026 |
| 31 LOAN PORTFOLIO BREAKDOWN As of March 31, 2026 $2,413.5 million $2,032.6 million |
| 32 LOAN PORTFOLIO 5.71% 5.85% 5.89% 5.84% 5.88% 15.59% 15.43% 15.16% 14.39% 13.48% 9.84% 9.84% 9.84% 8.54% 8.67% 10.94% 10.94% 10.89% 11.09% 11.42% 1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026 Loan Yields by Department/Product Bank-Internally Originated Third Party Originators-Upstart SBSL-7a SBSL-Express/Flash/Lightning $(250,000) $- $250,000 $500,000 $750,000 $1,000,000 1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026 Net Credit Losses by Department/Product Bank-Internally Originated Third Party Originators-Upstart SBSL-7a SBSL-Express/Flash/Lightning |
| 33 CREDIT MIGRATION $- $5,000,000 $10,000,000 $15,000,000 $20,000,000 $25,000,000 1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026 Classified Loans Newly Identified Loans Resolutions/Payoffs/Upgrades $- $10,000,000 $20,000,000 $30,000,000 $40,000,000 $50,000,000 1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026 Criticized Loans Newly Identified Loans Resolutions/Payoffs/Upgrades |
| 34 LOAN PORTFOLIO (Dollars in millions) Commercial Real Estate Production 7.72% 7.78% 7.83% 7.33% 7.11% 1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026 Organic Loan Growth Organic Purchased Loans Weighted average rate on new & renewed loans $56.4 $49.8 $38.1 $34.7 $43.0 $31.5 $47.1 $34.8 $14.1 $20.6 $48.0 $24.7 $24.0 $18.9 $2.9 1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026 Permanent NOO CRE Commercial, Construction and Development Residential Construction $11.9 $6.0 $6.6 $14.7 $18.1 $44.4 $43.8 $31.5 $20.0 $24.9 1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026 Residential Construction Loan Originations by Quarter Consumer Commercial |
| 35 COMMERCIAL REAL ESTATE BY TYPE Type Outstanding Balance Average Deal Size Retail $ 172,830 $ 1,217 Multifamily 106,660 1,159 Office 127,761 926 Industrial & Warehouse 75,396 1,216 Hotel/Motel 104,825 2,496 Convenience Store 9,732 811 Daycare 23,101 1,283 Civic/Event Center 27,844 2,320 Mini-warehouse 56,488 1,822 Government Guaranteed:SBSL 9,517 1,057 Specialty and Other 38,024 905 (Dollars in thousands) As of March 31, 2026 |
| 36 REPRICING SCHEDULE Quarterly Fiscal Year 2028 & (Dollars in millions) 2Q 2026 3Q 2026 4Q 2026 1Q 2027 2026 2027 Beyond Loan Maturity & Repricing Schedule: Fixed Rate Loans $ 75 $ 50 $ 22 $ 28 $ 147 $ 244 $ 1,020 Weighted Average Rate 6.87 % 6.34 % 4.97 % 5.72 % 6.37 % 5.29 % 5.68 % Adjustable & Variable Rate Loans $ 660 $ 10 $ 26 $ 26 $ 696 $ 54 $ 252 Weighted Average Rate 7.07 % 5.74 % 6.20 % 6.15 % 7.50 % 6.13 % 6.14 % Securities Principal Cash Flow and Rolloff Yield: Investments $ 12 $ 16 $ 9 $ 8 $ 37 $ 79 $ 631 Weighted Average Rate 3.88 % 2.79 % 2.77 % 2.93 % 3.14 % 1.91 % 2.46 % |
| 37 INVESTMENT SECURITIES As of: Average Life Effective Duration Book Yield 03/31/2025 6.46 4.76 2.53% 6/30/2025 6.20 4.50 2.48% 9/30/2025 6.00 4.60 2.32% 12/31/2025 5.60 4.30 2.52% 3/31/2026 5.90 4.40 2.53% Other Portfolio Metrics Pre-tax Unrealized Losses on Securities (in millions) Current base case assumptions and modeling suggest principal and interest cash flow from the investment portfolio estimated to be between $13 million and $22 million per quarter for the next 4 quarters 0% 25% 50% 75% 100% 1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026 AFS/HTM Available for Sale Held to Maturity $38.6 $37.1 $31.5 $29.5 $29.9 $41.4 $40.5 $35.6 $32.4 $33.9 1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026 AFS HTM |
| 38 INVESTMENT CONSIDERATIONS • Premier Southeast community bank located in growing markets • Core deposit funded with minimal reliance on wholesale funding • Diversified sources of revenue • Improving earnings outlook as new business lines and markets mature • Upside potential to tangible book value as unrealized losses recover • Deep leadership bench with a proven track record • Focused on scalability and efficiency • Investing in technology and leveraging data for revenue growth • Positioned to be the acquirer of choice in the Southeast |
| 39 RECONCILIATION OF NON-GAAP MEASURES (dollars in thousands, except per share data) Operating noninterest income reconciliation Noninterest income (GAAP) $ 10,692 $ 11,047 $ 10,091 $ 10,098 $ 9,044 Loss on sales of securities — — 1,039 — — Operating noninterest income $ 10,692 $ 11,047 $ 11,130 $ 10,098 $ 9,044 Operating noninterest expense reconciliation Noninterest expense (GAAP) $ 27,674 $ 25,709 $ 24,612 $ 22,004 $ 20,221 Acquisition-related expenses (1,637) (1,331) (732) — — Loss related to wire fraud incident — — (1,252) — — Operating noninterest expense $ 26,037 $ 24,378 $ 22,628 $ 22,004 $ 20,221 Operating net income reconciliation Net income (GAAP) $ 8,204 $ 7,843 $ 5,819 $ 7,978 $ 6,613 Acquisition-related expenses 1,637 1,331 732 — — Loss related to wire fraud incident — — 1,252 — — Loss on sales of securities — — 1,039 — — Income tax benefit (356) (269) (612) — — Operating net income $ 9,485 $ 8,905 $ 8,230 $ 7,978 $ 6,613 Weighted average diluted shares 21,222,237 18,729,511 17,461,434 17,448,945 17,509,059 Operating earnings per diluted share $ 0.45 $ 0.48 $ 0.47 $ 0.46 $ 0.38 Operating return on average assets reconciliation Return on average assets (GAAP) 0.90 % 0.93 % 0.75 % 1.02 % 0.85 Acquisition-related expenses 0.18 0.15 0.10 — — Loss related to wire fraud incident — — 0.16 — — Loss on sales of securities — — 0.13 — — Tax effect of adjustment items (0.04) (0.03) (0.08) — — Operating return on average assets 1.04 % 1.05 % 1.06 % 1.02 % 0.85 Operating return on average equity reconciliation Return on average equity (GAAP) 8.77 % 9.49 % 7.80 % 11.14 % 9.63 Acquisition-related expenses 1.74 1.62 0.98 — — Loss related to wire fraud incident — — 1.68 — — Loss on sales of securities — — 1.39 — — Tax effect of adjustment items (0.38) (0.33) (0.82) — — Operating return on average equity 10.13 % 10.78 % 11.03 % 11.14 % 9.63 2026 2025 First Fourth Third Second First Q uarter Q uarter Q uarter Q uarter Q uarter |
| 40 RECONCILIATION OF NON-GAAP MEASURES (dollars in thousands, except per share data) Operating return on average tangible equity reconciliation Return on average tangible equity 10.80 % 11.63 % 9.56 % 13.70 % 11.83 % Acquisition-related expenses 2.16 1.97 1.20 — — Loss related to wire fraud incident — — 2.06 — — Loss on sales of securities — — 1.71 — — Tax effect of adjustment items (0.47) (0.40) (1.01) — — Operating return on average tangible equity 12.49 % 13.20 % 13.52 % 13.70 % 11.83 % Tangible book value per common share reconciliation Book value per common share (GAAP) $ 17.98 $ 17.69 $ 17.31 $ 16.87 $ 16.41 Effect of goodwill and other intangibles (3.33) (3.38) (3.11) (3.14) (2.95) Tangible book value per common share $ 14.65 $ 14.31 $ 14.20 $ 13.73 $ 13.46 Tangible equity to tangible assets reconciliation Equity to assets (GAAP) 10.22 % 10.06 % 9.59 % 9.43 % 9.05 % Effect of goodwill and other intangibles (1.73) (1.76) (1.59) (1.62) (1.51) Tangible equity to tangible assets 8.49 % 8.30 % 8.00 % 7.81 % 7.54 % Operating efficiency ratio calculation Efficiency ratio (GAAP) 69.37 % 69.65 % 75.06 % 67.74 % 67.41 % Acquisition-related expenses (4.10) (3.61) (1.98) — — Loss related to wire fraud incident — — (3.38) — — Loss on sales of securities — — (2.81) — — Operating efficiency ratio 65.27 % 66.04 % 66.89 % 67.74 % 67.41 % Operating net noninterest expense(1) to average assets calculation Net noninterest expense to average assets 1.86 % 1.73 % 1.86 % 1.52 % 1.44 % Acquisition-related expenses (0.18) (0.15) (0.09) — — Loss related to wire fraud incident — — (0.16) — — Loss on sales of securities — — (0.13) — — Operating net noninterest expense to average assets 1.68 % 1.58 % 1.48 % 1.52 % 1.44 % Pre-provision net revenue Net interest income before provision for credit losses $ 29,203 $ 25,865 $ 22,699 $ 22,385 $ 20,952 Noninterest income 10,692 11,047 10,091 10,098 9,044 Total income 39,895 36,912 32,790 32,483 29,996 Noninterest expense 27,674 25,709 24,612 22,004 20,221 Pre-provision net revenue $ 12,221 $ 11,203 $ 8,178 $ 10,479 $ 9,775 Operating pre-provision net revenue Net interest income before provision for credit losses $ 29,203 $ 25,865 $ 22,699 $ 22,385 $ 20,952 Operating noninterest income 10,692 11,047 11,130 10,098 9,044 Total operating income 39,895 36,912 33,829 32,483 29,996 Operating noninterest expense 26,037 24,378 22,628 22,004 20,221 Operating pre-provision net revenue $ 13,858 $ 12,534 $ 11,201 $ 10,479 $ 9,775 (1) Net noninterest expense is define as noninterest expense less noninterest income 2026 2025 First Fourth Third Second First Quarter Quarter Quarter Quarter Quarter |
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