2020 Annual Report

(1) Includes shares of common stock and non-voting common stock. On October 25, 2018, the Company exchanged shares of common stock for all of the outstanding shares of non-voting common stock. Following the exchange, no shares of non-voting common stock were outstanding. (2) Represents a non-GAAP financial measure. See "GAAP Reconciliation and Management Explanation of Non-GAAP Financial Measures" for further details. (3) Ratio excludes the amortization of tax credit investments, FHLB prepayment fees and represents a non-GAAP financial measure. See "GAAP Reconciliation and Management Explanation of Non-GAAP Financial Measures" for further details (4) Amounts calculated on a tax-equivalent basis using the statutory federal tax rate of 21% beginning in 2018 and 35% for 2017 and 2016. (5) Nonperforming assets are defined as nonaccrual loans plus loans 90 days past due plus foreclosed assets. (6) ROA and ROE, excluding a one-time additional expense of $2.0 million related to the revaluation of the deferred tax asset, would have been 1.30% and 14.75%, respectively for the year ended December 31, 2017. Selected Balance Sheet Data Total Assets. . . . . . . . . . . . . . . . . . . . . . . . . . . $ 2,927,345 $ 2,268,830 $ 1,973,741 $ 1,616,612 $ 1,260,394 Total Loans, Gross . . . . . . . . . . . . . . . . . . . . . 2,326,428 1,912,038 1,664,931 1,347,113 1,000,739 Allowance for Loan Losses . . . . . . . . . . . . . . 34,841 22,526 20,031 16,502 12,333 Securities Available for Sale . . . . . . . . . . . . . 390,629 289,877 253,378 229,491 217,083 Goodwill and Other Intangibles. . . . . . . . . . . 3,296 3,487 3,678 3,869 4,060 Deposits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,501,636 1,823,310 1,560,934 1,339,350 1,023,508 Federal Funds Purchased . . . . . . . . . . . . . . . . — — 18,000 23,000 44,000 FHLB Advances and Notes Payable . . . . . . . 68,500 149,500 139,000 85,000 72,000 — Tangible Common Equity (1) . . . . . . . . . . . . . 262,109 241,307 217,320 133,293 111,306 Total Shareholders' Equity . . . . . . . . . . . . . . . 265,405 244,794 220,998 137,162 115,366 Average Total Assets . . . . . . . . . . . . . . . . . . . 2,617,579 2,114,211 1,777,592 1,451,732 1,098,654 Average Common Equity. . . . . . . . . . . . . . . . 258,736 232,539 194,083 128,123 102,588 As of and for the year ended December 31, (dollars in thousands) 2020 2019 2018 2017 2016 Subordinated Debentures, Net of Issuance Costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 73,739 24,733 24,630 24,527 Selected Income Statement Data Interest Income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 114,826 $ 103,778 $ 85,226 66,346 $ 50,632 Interest Expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26,862 29,646 20,488 12,173 8,514 Net Interest Income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 87,964 74,132 64,738 54,173 42,118 Provision for Loan Losses . . . . . . . . . . . . . . . . . . . . . . . . . . 12,750 2,700 3,575 4,175 3,250 Net Interest Income after Provision for Loan Losses . . . 75,214 71,432 61,163 49,998 38,868 Noninterest Income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5,839 3,826 2,543 2,536 2,567 Noninterest Expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 45,387 36,932 31,562 25,496 20,168 Income Before Income Taxes . . . . . . . . . . . . . . . . . . . . . . 35,666 38,326 32,144 27,038 21,267 Provision for Income Taxes . . . . . . . . . . . . . . . . . . . . . . . . . 8,472 6,923 5,224 10,149 8,052 Net Income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 27,194 $ 31,403 $ 26,920 $ 16,889 $ 13,215 (1) Represents a non-GAAP financial measure. See “GAAP Reconciliation and Management Explanation of Non-GAAP Financial Measures” for further details. For the year ended December 31, (dollars in thousands) 2020 2019 2018 2017 2016

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