CommunityOne Bancorp      July 29, 2014   Investor Presentation
 Forward Looking Statements & Other Information              Forward Looking Statements   This presentation contains certain forward-looking statements within the safe harbor rules of the federal securities laws.   These statements generally relate to COB’s financial condition, results of operations, plans, objectives, future   performance or business. They usually can be identified by the use of forward-looking terminology, such as “believes,”   “expects,” or “are expected to,” “plans,” “projects,” “goals,” “estimates,” “may,” “should,” “could,” “would,” “intends to,”   “outlook” or “anticipates,” or variations of these and similar words, or by discussions of strategies that involve risks and   uncertainties. Forward looking statements are subject to risks and uncertainties, including but not limited to, those risks   described in COB’s Annual Report on Form 10-K for the year ended December 31, 2013 under the section entitled   “Item 1A, Risk Factors,” and in the Quarterly Reports of Form 10-Q and other reports that are filed by COB with the   Securities and Exchange Commission. You are cautioned not to place undue reliance on these forward-looking   statements, which are subject to numerous assumptions, risks and uncertainties, and which change over time. These   forward-looking statements speak only as of the date of this presentation. Actual results may differ materially from   those expressed in or implied by any forward looking statements contained in this presentation. We assume no duty to   revise or update any forward-looking statements, except as required by applicable law.   Non-GAAP Financial Measures   In addition to the results of operations presented in accordance with Generally Accepted Accounting Principles (GAAP),   COB management uses and this presentation contains or references, certain non-GAAP financial measures, such as   core earnings and core noninterest expense to average assets and tangible book value. COB believes these non-   GAAP financial measures provide information useful to investors in understanding our underlying operational   performance and our business and performance trends as they facilitate comparisons with the performance of others in   the financial services industry; however, these non-GAAP financial measures should not be considered an alternative   to GAAP. The non-GAAP financial measures contained within this presentation should be read in conjunction with the   audited financial statements and analysis as presented in COB’s Annual Report on Form 10-K as well as the unaudited   financial statements and analyses as presented in COB’s Quarterly Reports on Form 10-Q. A reconciliation of non-   GAAP measures to the most directly comparable GAAP measure is included within tables in the presentation or with   the appendix to this presentation.     2
 3   – Contributed $310 million in new capital   – Merged CommunityOne Bancorp and Bank of Granite Corp   – Installed new experienced management team and Board    – Reorganized into lines of business around customer needs   – Implemented revised credit policies and processes   – Preserved DTA        Recapitalization and merger   in 2011         – Returned to profitability in 2nd half of 2013 - $6.3 million in net   income   – Executed Bank merger and achieved targeted synergies     – Resolved all legacy enforcement actions    – Exceeded asset quality goals with minimal credit cost    Achieved or exceeded   turnaround goals for 2013         – CommunityOne Bank founded in 1907 as First National Bank of   Asheboro   – Bank of Granite founded in 1906   – High quality, low cost deposit franchises   – Multi-generational customer relationships       Long history of performance         CommunityOne at a Glance   3
 4   – Strategic initiatives drive loans to deposits ratio from 69% to 75%   – Grow loans 8%+ through share gains and expansion into new markets    – 3% deposit growth aided by investments in Treasury Management and   online/mobile banking infrastructure   – 4% core expense savings invested in Strategic Initiatives   – Continued improvements in asset quality and reduced credit costs   – Pursue growth through acquisitions    Key objectives for 2014         Driving Financial Performance   4   – Grow net interest income at above peer rates    Generate above peer loan growth by adding banking talent and   expanding into new geographic markets via LPOs    Rotate asset mix from overweight securities     Grow earning assets   – Reduce expenses through branch consolidation, automation and   staffing, regulatory cost reduction, and vendor contract renegotiation   – Fee income growth from existing investments in Wealth, Mortgage and   Treasury Management platforms    Path to Enhanced   Profitability         – Stock trades at a discount to DTA and AFS Mark adjusted TBV (82% at   7/25/14), a significant discount to peer valuation metrics   – Acquisition platform       Investment Thesis
 Attractive Franchise    Attractive community banking   franchise in North Carolina       High quality, low cost core   deposit base       Experienced origination teams   in key lending markets   – Metro Charlotte   – Piedmont Triad   – Legacy markets of Hickory   and Asheboro   – Commercial Real Estate   – Raleigh Loan Production   Office       Full range of capabilities   – Commercial banking, small   business banking, treasury   services, consumer banking,   auto finance, mortgage   banking, wealth   management, and trust      5
 Experienced Leadership and Board   6   Executive Officers Experience   Brian Simpson   Chief Executive Officer   Bob Reid   President   Dave Nielsen   Chief Financial Officer   Beth DeSimone   General Counsel and Chief Risk Officer   Neil Machovec   Chief Credit Officer   Non-Management Directors Experience   Chan Martin   Chairman   John Bresnan1   Director   Scott Kauffman   Director   Jerry Licari   Audit Committee Chair   Gray McCaskill   Director   Ray McKenney   Compensation and Nominating Committee Chair   Boyd Wilson   Risk Management Committee Chair   20 years of banking experience as senior executive and Operating Committee member at First Union, including   Head of Structured Products, Real Estate Capital Markets and Leasing and Head of Balance Sheet Management.    33 years of banking experience as senior executive at First Union/Wachovia/Wells Fargo including President of TN,   PA/DE and NY/NJ/CT regions, President of Retirement & Investment Products and Head of Real Estate.   25 years of banking and financial services experience at KPMG, First Union/Wachovia/Wells Fargo including   Wholesale Integration Manager for the Wells Fargo/Wachovia Merger, and COO of Corporate and Investment   Banking.   25 years at Arnold & Porter in the Corporate and Financial Institution area.  DeSimone's practice concentrated on   regulatory matters, mergers and acquisitions and consumer banking issues.   President of MBM Auto Management, a multi-franchise automobile and powersports management company which   he founded in 1981.   1 John Redett, a managing director of The Carlyle Group, LP, w as elected to serve as a director of CommunityOne at the 2014 Annual Meeting of Shareholders in place of John Bresnan as the Carlyle-designated   director.  His qualif ication to serve is subject to regulatory non-objection, w hich is pending.  Mr. Redett has almost 15 years experience in the investment services business, focusing on opportunities in the f inancial   services sector.   34 years of banking experience, including Small Business Risk Management Executive and Commercial Card Risk   Executive at Bank of America and Director of Credit Policy and Risk Management at HSBC Mortgage Services.   Retired banking and financial services executive at Bank of America including Treasurer, Enterprise Market and   Operational Risk Executive and Global and Corporate Banking Risk Executive.  Board member at CNL Healthcare.   Retired banking and financial services executive, including CRO for Corporate and Investment Banking at First   Union/Wachovia and Managing Director of Credit at Lehman Brothers.   18 years of banking and financial services experience, including Principal in the Business and Financial Services   Group at Oak Hill Capital and Co-COO for the America's Financial Institutions Group at Goldman Sachs.   Retired Engagement Partner and SEC Reviewing Partner for insurance and bank clients and Partner in Charge of   the US Banking Practice and the Financial Risk Management Practice.   CEO of Senn Dunn Insurance, the largest privately-owned insurance agency in NC, specializing in business   insurance, employee benefits and personal insurance.   EVP of Broyhill Investments, a family office, and CFO of BMC Fund, a registered investment company.
 Sustained Profitability    Four consecutive profitable quarters    NIBT of $3.0 million in 2Q   – Increase of 133% from 1Q 2014,   $6.0 million better than prior year   – Core earnings grew 55% in 2Q   2014 to $2.6 million    Loan growth was strong and broad   based across all lines of business   – Portfolio grew $50.1 million in 2Q,   16% annualized growth rate    Positive credit performance   – NPA’s fell to 2.7% of assets    – Provision recovery of $1.7 million   – 7 bps YTD annualized net   charge-offs    Net interest income grew 2% in 2Q   – Net of non-cash accretion, net   interest income grew 9% year   over year and at an 11%   annualized rate in 2Q 2014   – NIM of 3.40%    $5.4 million (22%) reduction in year   over year NIE   – Core NIE fell 2% from 1Q 2014   – NIE to average assets at 3.47%   – $0.4 million US Treasury sale   expenses in 2Q   7   Quarterly Performance Metrics   Dollars in thousands except per share data 2Q 2013 3Q 2013 4Q 2013 1Q 2014 2Q 2014   Net income (loss) before taxes (2,947)$          4,292$          1,241$           1,300$          3,028              Net income (loss) (3,183)            4,006            2,290             1,277             2,792              Net income (loss) per share (0.15)              0.18               0.11               0.06               0.13                 Return on average assets (0.62%) 0.79% 0.45% 0.26% 0.56%   Return on average equity (14.5%) 21.0% 11.0% 6.2% 12.7%   Net interest margin 3.27% 3.76% 3.52% 3.43% 3.40%   Core noninterest expense to average assets   1   3.59% 3.42% 3.34% 3.59% 3.47%   Loans held for investment 1,189,413     1,195,142    1,212,248     1,219,785     1,269,865      Deposits 1,811,485     1,790,608    1,748,705     1,767,930     1,763,765      NPA's to total assets 4.7% 4.1% 3.2% 2.9% 2.7%   1 Non-GAAP measure.  See page 9 for reconciliation to GAAP presentation.   Quart rly Results   Results of Operatio   Dollars in thousands 2Q 2013 3Q 2013 4Q 2013 1Q 2014 2Q 2014   N t interest income 5 14$         17 382$        16 464$        15 479$        15 18$         Recovery f Provision (Provision) for loan losses 1,057             350                (1,8 0)            684                1,685              Noninterest income 5,247             4,487            4,147             3,943             4,893              Noninterest expense (24,665)          (17,927)         (17,550)         (18,806)         (19,268)           Net income (loss) before tax (2,947)            4,292            1,241             1,300             3,028              Income tax benefit (expense) (236)               (286)              1,049             (23)                 (236)                Net income (loss) (3,183)            4,006            2,290             1,277             2,792              Core Earnings   1   1,821$           4,698$          3,808$           1,642$          2,551$                1  Non-GAAP measure.  See Appendix for reconciliation to GAAP presentation.
 8    Almost 5% loan growth year to date   – Loans held for investment grew $50.1 million (4%) in 2Q; Annualized   growth of over 16%   – Organic loan growth of $34.8 million; annualized growth of 14%   – Growth rate and loan to deposit ratio of 72% both ahead of plan   – Growth across all business lines, especially commercial, and does not   reflect impact of recent LPO and staff additions   – Asset resolution is less a headwind          Grow loans          Deposits up $15.1 million, or 1%, since year end, 2% annualized growth rate   – Deposits were lower in 2Q by $4.2 million   – Core deposits fell 2.1% in the quarter on seasonal declines in interest   bearing DDA accounts and declines in money market accounts   – Treasury Management product and mobile banking infrastructure   investments on track   – Noninterest bearing deposits up $6.3 million in 2Q    Grow core deposits          Credit resolution activities are ahead of schedule   – Reduced NPAs by 9% in 2Q;  NPA ratio of 2.7% vs year end goal of 2.3%   – Reduced classified assets by $22 million YTD; 2014 goal of $40 million   – Bank classified asset ratio at 56%, down from 67% last quarter             Resolve remaining credit   issues          Year over year reduction in core noninterest expenses of 6%   – YTD expenses are lower than our internal plans.  Significant vendor   contract related savings beginning in the second half of 2014   – 11% year over year reduction in FTEs   – Expect annual run rate decline of over $1.0 million in regulatory costs based   on improvements in capital, earnings and asset quality   – Core NIE to average assets ratio of 3.47% better than goal    Invest in new businesses   while maintaining focus on   expenses         Key Objectives for 2014 and Progress To Date   8
 9    Hired 2 experienced commercial and real estate bankers to start a Raleigh Loan   Production Office in June   – Raleigh is NC’s 2nd largest and fastest growing economic hub   – Expect to hire 1-2 additional commercial bankers    Hired team of 4 experienced commercial and real estate bankers in Greensboro   in July   – New Regional Banking President and new Greensboro Market President   – Greensboro is the largest city in the Piedmont Triad, the 3rd largest   market in NC    Hired team of 2 commercial and real estate bankers to start a Winston-Salem   Loan Production Office   – Winston-Salem is the 2nd largest city in the Triad    Distinctive lending model driving success   – Experienced and focused C&I and CRE bankers provide more insightful   advice and better solutions than generalists   – Deal team approach ensures responsiveness          Accelerate loan growth by   expanding commercial and   real estate resources and   geographic reach         Loan Growth Initiatives   9    Hired experienced mortgage executive to lead new non-branch origination   channel   – Charlotte, Raleigh and Piedmont Triad   – Focused on realtors and builders    Expanding existing indirect auto finance business with platform investments                Accelerate loan growth in   consumer and mortgage   lending
 Growing Net Interest Income    Net interest income grew 2% in   2Q   – Net of non-cash accretion, net   interest income grew 9% year   over year and at an 11%   annualized rate in 2Q 2014    Net interest margin improved 13   bps year over year from 2Q 2013;    3 bps decline from 1Q to 3.40%     Average earning assets grew   $24.3 million during 2Q 2014 on   strong loan growth   – Average loans grew $29.1   million     Earning asset yield fell 3 bps in   2Q on reduced loan accretion   – Loan yield excluding accretion   was flat at 4.39%   – Loan accretion on purchased   impaired loans was $0.7   million in 2Q 2014 , $0.9   million in 1Q 2014 and $1.7   million in 2Q 2013    2Q cost of interest bearing   deposits was flat at 48 bps    Liability costs rose 2 bps as a   result of 1Q actions to hedge and   extend duration    10   Quarterly Loan and Securities Yields Quarterly Margin and Cost of Deposits   0.0%   1.0%   2.0%   3.0%   4.0%   5.0%   6.0%   2Q 2013 3Q 2013 4Q 2013 1Q 2014 2Q 2014   Yield on Loans Yield on Investment Securities   0.0%   0.5%   1.0%   1.5%   2.0%   2.5%   3.0%   3.5%   4.0%   2Q 2013 3Q 2013 4Q 2013 1Q 2014 2Q 2014   Cost of Interest Bearing Deposits N t Interest Margin   Quarterly Results   Average Balances, Yields and Net Interest Margin   Dollars in thousands 2Q 2013 3Q 2013 4Q 2013 1Q 2014 2Q 2014   Average loans (includes loans held for sale) 1,114,841$   1,188,357$  1,199,309$   1,209,714$  1,238,847$       Average yield 5.21% 5.35% 4.97% 4.73% 4.66%   Average loans and securities 1,692,304     1,784,130    1,785,541     1,770,270     1,788,879      Average earning assets 1,895,137     1,839,359    1,859,379     1,830,822     1,855,092         Average yield 3.85% 4.29% 4.05% 3.98% 3.95%   Average interest bearing liabilities 1,675,133     1,606,302    1,611,915     1,585,272     1,581,777         Average rate 0.65% 0.61% 0.61% 0.63% 0.65%      Average cost of interest bearing deposits 0.54% 0.51% 0.50% 0.48% 0.48%   Net interest margin 3.27% 3.76% 3.52% 3.43% 3.40%   Net interest rate spread 3.20% 3.68% 3.44% 3.35% 3.31%   Net interest income 15,414$         17,382$        16,464$        15,479$        15,718$
 1,197,876 1,214,083 1,221,746   1,271,630   -16.00%   -12.00%   -8.00%   -4.00%   0.00%   4.00%   8.00%   12.00%   16.00%   200,000   400,000   600,000   800,000   1,000,000   1,200,000   1,400,000   2Q 2013 3Q 2013 4Q 2013 1Q 2014 2Q 2014   Commercial RE Construction Consumer/HELOC   1-4 Family Residential Purchased Residential Non pass loans   Total Loans Organic Growth Rate Annualized   1,193,489   Accelerating Loan Growth    Total loans including LHFS   grew $49.9 million in 2Q 2014;    annualized growth rate of 16%   – All lines of business grew   loans during the quarter    Total pass rated loans grew by   $63.1 million; annualized   growth rate of 23%   – Credit headwinds abating   – Includes purchase of   residential mortgage loan   pool of $19.6 million to offset   runoff in the purchased   mortgage portfolio    Organic loans (excluding   purchased resi loans) grew   $34.8 million; 14% annualized   growth rate    Non-pass rated loans fell by   $13.2 million, or 10%    Loan portfolio composition   balanced between consumer   and commercial exposure    1-4 family residential mortgage   loans held for investment   stable at 40% of loans    11   Quarterly Loan Portfolio Mix   Loan Portfolio Growth Rates By Category   Dollars in thousands 2Q 2013 1Q 2014 2Q 2014 $ % Annual %   Commercial and Commercial Real Estate 363,025      381,733      397,905      16,172        4% 17%   RE Construction 46,440        54,331       61,125        6,794         13% 50%   Consumer/HELOC 185,787      191,030      200,336      9,306         5% 19%   1-4 Family Residential 237,000      252,996      268,656      15,660        6% 25%   Pass Rated Organic Loans 832,252      880,089      928,022      47,932        5% 22%   Purchased Resi Mortgage Loans 193,273      207,590      222,723      15,133        7% 29%   Non Pass Rated Organic Loans 167,964      134,067      120,886      (13,181)       (10%) (39%)   Total Loans 1,193,489    1,221,746   1,271,630   49,884        4% 16%   Total Organic Loans 1,000,216    1,014,156   1,048,907   34,751        3% 14%   Total Pass Rated Loans 1,025,525    1,087,679   1,150,744   63,065        6% 23%   2Q Growth
 $59   $51   $35 $34 $32   $36   $33   $28   $25   $22   $0   $10   $20   $30   $40   $50   $60   $70   $80   $90   $100   2Q 2013 3Q 2013 4Q 2013 1Q 2014 2Q 2014   M   ill   io   ns    o   f   D   ol   la   rs   Nonperforming loans OREO and foreclosed assets   $47 $44 $46 $43 $41   $121   $115   $96   $91   $80   $0   $25   $50   $75   $100   $125   $150   $175   $200   $225   $250   2Q 2013 3Q 2013 4Q 2013 1Q 2014 2Q 2014   M   ill   io   ns    o   f   D   ol   la   rs   Special Menti n Loans Classified Loans   Aggressive Credit Resolution    Asset quality improvements   continue to be ahead of plan   – Classified loans decreased   by $11.1 million (12%)   – Nonperforming loans   reduced to 2.5% of total   loans, from 5% a year ago   – NPA’s reduced to 2.7% of   assets, from 6.6% at the   end of 2012    The ALL has been reduced to   $24.0 million from $26.0 million   at end of Q1, reflecting the    improved asset quality and   lower annualized charge-off   rates    ALL is 1.89% of loans held for   investment    $0.4 million of 2Q net charge-   offs; annualized net charge-off   rate of 12 bps for the quarter   and 7 bps 2014 year to date   12   Quarterly Asset Quality Trends   28% decline 44% decline   Quarterly Asset Quality   Dollars in thousands 2Q 2013 3Q 2013 4Q 2013 1Q 2014 2Q 2014   Allowance for loan losses (ALL) 25,085$         25,387$        26,785$        26,039$        23,975$          Nonperforming loans to Total loans 5.0% 4.3% 2.9% 2.8% 2.5%   N nperforming assets to Total assets 4.7% 4.1% 3.2% 2.9% 2.7%   Annualized net charge-offs to Average loans 1.26% (0.22%) 0.14% 0.02% 0.12%   Allowance for loan loss to Total loans 2.11% 2.12% 2.21% 2.13% 1.89%   Bank Classified Assets to Tier 1 Capital + ALL 93% 86% 70% 65% 56%
 Valuable Deferred Tax Asset    Consolidated net deferred tax   asset of $150.4 million at 2Q   2014   – $5.2 million currently   reflected on balance sheet   and in equity   – $145.2 million remaining   DTA valuation allowance     The Company evaluates each   quarter the continued need for   the valuation allowance on the   deferred tax assets      13   Deferred Tax Asset Rollforward   Dollars in Millions Net DTA   DTA   Valuation   Allowance   Unreserved   Net DTA   Beginning Balance, March 31, 2014   156.2$           148.0$          8.2$                 Net income, tax strategies and other adjustments (5.8)                (2.8)                (3.0)                  Ending Balance, June 30, 2014 150.4$           145.2$          5.2$
 Questions   14
 Appendix   15
 Non-GAAP Measures    Reconciliation of non-   GAAP measures to the   most directly comparable   GAAP measure   16   Reconciliation of Non-GAAP Measures   Dollars in thousands 2Q 2013 3Q 2013 4Q 2013 1Q 2014 2Q 2014   Total shareholders' equity 76,046$      80,802$      80,361$      85,331$      92,697$        Less:       Goodwill (4,205)         (4,205)        (4,205)         (4,205)        (4,205)              Core deposit and other intangibles (7,403)         (7,196)        (6,914)         (6,597)        (6,296)          Tangible shareholders' equity 64,438$      69,401$      69,242$      74,529$      82,196$        Reconciliation of Non-GAAP Measures   Dollars in thousands 2Q 2013 3Q 2013 4Q 2013 1Q 2014 2Q 2014   Net income (loss) (3,183)$       4,006$       2,290$        1,277$        2,792$         Less taxes, credit costs and nonrecurring items:       Income tax benefit (expense) (236)            (286)           1,049          (23)             (236)                 Gain on sales of securities 345             50              -                 -                720                  Other real estate owned expense (3,332)         98              (21)             (261)           (954)                 Recovery of (Provision for) loan losses 1,057          350            (1,820)         684            1,685               Mortgage and litigation accruals 370             117            -                 75              (7)                    Loan collection expense (1,146)         (1,120)        (548)           (657)           (551)                 Branch closure and restructuring expenses (15)             105            (178)           (183)           (7)                    US Treasury sale expenses -                 -                -                 -                (409)                 Rebranding expense (58)             (6)              -                 -                -                      Merger-related expense (1,989)         -                -                 -                -                  Core Earnings 1,821$        4,698$       3,808$        1,642$        2,551$
 17   Investor Contacts      Brian Simpson   Chief Executive Officer      Bob Reid   President      Dave Nielsen   Chief Financial Officer      Neil Machovec   Chief Credit Officer      1017 East Morehead Street   Suite 200   Charlotte, NC 28204   800-873-1172   www.community1.com