|                                                                |  |                                      |  |  |  |  |  |  |
|----------------------------------------------------------------|--|--------------------------------------|--|--|--|--|--|--|
| Mississippi                                                    |  | 64-0655312                           |
| (State or other Jurisdiction of Incorporation or Organization) |  | (I.R.S. Employer Identification No.) |

|                     |  |                |  |                                           |  |  |  |  |  |  |  |  |  |  |
|---------------------|--|----------------|--|-------------------------------------------|--|--|--|--|--|--|--|--|--|--|
| Title of each class |  | Trading Symbol |  | Name of each exchange on which registered |
| None                |  | N/A        |  | N/A                                   |

|                         |         |  |                           |         |  |  |  |  |  |  |  |  |  |  |
|-------------------------|---------|--|---------------------------|---------|--|--|--|--|--|--|--|--|--|--|
| Large accelerated filer | ☐ |  | Accelerated filer         | ☐ |
| Non-accelerated filer   | ☒ |  | Smaller reporting company | ☐ |
|                         |         |  | Emerging growth company   | ☒ |

----

|                                                             |      |  |  |  |  |
|-------------------------------------------------------------|------|--|--|--|--|
|                                                             | Page |
| Explanatory Note                                            | 3    |
|                                                             |      |
| Report of the Independent Registered Public Accounting Firm | 4    |
|                                                             |      |
| Consolidated Balance Sheets                                 | 5    |
|                                                             |      |
| Consolidated Statements of Income                           | 6    |
|                                                             |      |
| Consolidated Statements of Comprehensive Income             | 7    |
|                                                             |      |
| Consolidated Statements of Stockholders' Equity             | 8    |
|                                                             |      |
| Consolidated Statements of Cash Flows                       | 9    |
|                                                             |      |
| Notes to Consolidated Financial Statements                  | 11   |
|                                                             |      |
| Signatures                                                  | 53   |
|                                                             |      |
| Exhibits                                                    | 55   |

----

----

----

|                                                                                                                                                                                        |                  |                 |                  |                 |               |                 |        |  |  |  |  |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------------|-----------------|------------------|-----------------|---------------|-----------------|--------|--|--|--|--|
|                                                                                                                                                                                        | December 31,2019 |                 | December 31,2018 |
| Assets:                                                                                                                                                                            |                  |                 |                  |
| Cash and due from banks                                                                                                                                                                | $                | 45,475     |             |                 | $             | 51,504     |   |
| Interest bearing deposits with banks                                                                                                                                                   | 267,497     |            |                  | 93,693     |          |
| Total cash and cash equivalents                                                                                                                                                        | 312,972     |            |                  | 145,197    |          |
| Securities available for sale                                                                                                                                                          | 201,073     |            |                  | 89,295     |          |
| Securities held to maturity - fair value: $179,225 - 2019; $291,226 - 2018                                                                                                     | 177,854     |            |                  | 292,601    |          |
| Loans held for sale                                                                                                                                                                    | 16,092      |            |                  | 8,906      |          |
|                                                                                                                                                                                        |                  |                 |                  |
| Loans                                                                                                                                                                                  | 2,078,997   |            |                  | 2,074,721  |          |
| Less: Allowance for loan losses                                                                                                                                                    | 21,500      |            |                  | 24,500     |          |
| Net loans                                                                                                                                                                              | 2,057,497   |            |                  | 2,050,221  |          |
|                                                                                                                                                                                        |                  |                 |                  |
| Premises and equipment                                                                                                                                                                 | 75,072      |            |                  | 75,986     |          |
| Operating lease right-of-use asset                                                                                                                                                     | 39,194      |            |                  |                 | —  |            |
| Accrued interest receivable                                                                                                                                                            | 11,509      |            |                  | 11,924     |          |
| Goodwill                                                                                                                                                                               | 2,616       |            |                  |                 | 2,616    |            |
| Other assets                                                                                                                                                                           | 85,185      |            |                  | 97,208     |          |
|                                                                                                                                                                                        | $                | 2,979,064  |             |                 | $             | 2,773,954  |   |
| Liabilities:                                                                                                                                                                       |                  |                 |                  |
| Deposits                                                                                                                                                                               | $                | 2,592,065  |             |                 | $             | 2,453,412  |   |
|                                                                                                                                                                                        |                  |                 |                  |
| Advances from Federal Home Loan Bank and other borrowings                                                                                                                              | 37,652      |            |                  | 41,432     |          |
| Subordinated debentures payable to statutory trusts                                                                                                                                    | 41,238      |            |                  | 41,238     |          |
| Operating lease liabilities                                                                                                                                                            | 43,578      |            |                  |                 | —  |            |
| Accrued interest payable                                                                                                                                                               | 1,083       |            |                  | 1,035      |          |
| Other liabilities                                                                                                                                                                      | 11,937      |            |                  | 6,775      |          |
| Total liabilities                                                                                                                                                                      | 2,727,553   |            |                  | 2,543,892  |          |
|                                                                                                                                                                                        |                  |                 |                  |
| Redeemable common stock owned by the ESOP                                                                                                                                              | 79,308      |            |                  | 70,507     |          |
| Stockholders' equity:                                                                                                                                                              |                  |                 |                  |
| Common Stock, par value $1.00 per share.   40,000,000 and zero authorized; 7,652,957 and zero issued and outstanding   at December 31, 2019, and 2018, respectively                | 7,653       |            |                  | —    |          |
| Class A voting common stock, par value $1.00 per share.     Zero and 9,876,950 authorized; zero and 7,476,989 issued and outstanding   at December 31, 2019 and 2018, respectively | —     |            |                  | 7,477      |          |
| Class B non-voting common stock, par value $1.00 per share.     Zero and 123,050 authorized; zero and 115,005 issued and outstanding   at December 31, 2019 and 2018, respectively | —     |            |                  | 115        |          |
| Unearned Employee Stock Ownership Plan compensation                                                                                                                                    | (4,476)          |            |                  | (2,962)         |          |
| Additional paid-in capital                                                                                                                                                             | 811              |                 | 180         |            |
| Retained earnings                                                                                                                                                                      | 247,241     |            |                  | 225,723    |          |
| Accumulated other comprehensive income (loss), net                                                                                                                                     | 282         |            |                  | (471)           |          |
|                                                                                                                                                                                        | 251,511     |            |                  | 230,062    |          |
| Less: Redeemable common stock owned by the ESOP                                                                                                                                    | (79,308)         |            |                  | (70,507)        |          |
|  Total stockholders' equity                                                                                                                                                       | 172,203     |            |                  | 159,555    |          |
|                                                                                                                                                                                        | $                | 2,979,064  |             |                 | $             | 2,773,954  |   |

----

|                                                     |                             |               |                             |               |        |               |        |  |  |  |  |
|-----------------------------------------------------|-----------------------------|---------------|-----------------------------|---------------|--------|---------------|--------|--|--|--|--|
|                                                     | Year Ended December 31,2019 |               | Year Ended December 31,2018 |
| Interest income:                                |                             |               |                             |
| Interest and fees on loans                          | $                           | 111,369  |                        |               | $      | 100,323  |   |
| Taxable securities                                  | 5,055                  |          |                             | 5,868    |   |
| Tax-exempt securities                               | 3,583                  |          |                             | 3,993    |   |
| Interest bearing bank balances and other            | 4,401                  |          |                             | 1,067    |   |
| Total interest income                               | 124,408                |          |                             | 111,251  |   |
| Interest expense:                               |                             |               |                             |
| Deposits                                            | 18,438                 |          |                             | 8,201    |   |
| Short-term borrowings                               | —                |          |                             | 90       |   |
| Advances from Federal Home Loan Bank                | 324                    |          |                             | 1,905    |   |
| Other borrowings                                    | 2,336                  |          |                             | 2,346    |   |
| Total interest expense                              | 21,098                 |          |                             | 12,542   |   |
| Net interest income                                 | 103,310                |          |                             | 98,709   |   |
| Provision for loan losses                           | 586                    |          |                             | 15,227   |   |
| Net interest income after provision for loan losses | 102,724                |          |                             | 83,482   |   |
|                                                     |                             |               |                             |
| Other operating income:                         |                             |               |                             |
| Service charges on deposit accounts                 | 28,039                 |          |                             | 28,923   |   |
| Mortgage origination income                         | 4,569                  |          |                             | 3,608    |   |
| Debit card interchange                              | 6,263                  |          |                             | 6,083    |   |
| Securities gains, net                               | 76                     |          |                             | 25       |   |
| Other income                                        | 18,806                 |          |                             | 19,056   |   |
| Total other operating income                        | 57,753                 |          |                             | 57,695   |   |
|                                                     |                             |               |                             |
| Other operating expenses:                       |                             |               |                             |
| Salaries and employee benefits                      | 65,855                 |          |                             | 62,747   |   |
| Net occupancy expenses                              | 11,653                 |          |                             | 10,771   |   |
| Furniture, equipment and data processing expenses   | 15,702                 |          |                             | 13,324   |   |
| Other expenses                                      | 21,874                 |          |                             | 41,733   |   |
| Total other operating expenses                      | 115,084                |          |                             | 128,575  |   |
|                                                     |                             |               |                             |
| Income before income taxes                          | 45,393                 |          |                             | 12,602   |   |
| Income tax expense                                  | 8,993                  |          |                             | 189      |   |
| Net income                                          | $                           | 36,400   |                        |               | $      | 12,413   |   |
|                                                     |                             |               |                             |
| Earnings per common share - basic                   | $                           | 4.83     |                        |               | $      | 1.66     |   |
| Earnings per common share - diluted                 | $                           | 4.78     |                        |               | $      | 1.64     |   |

----

|                                                             |                             |              |                             |           |        |              |        |  |  |  |  |
|-------------------------------------------------------------|-----------------------------|--------------|-----------------------------|-----------|--------|--------------|--------|--|--|--|--|
|                                                             | Year Ended December 31,2019 |              | Year Ended December 31,2018 |
|                                                             |                             |              |                             |
| Net income                                                  | $                           | 36,400  |                        |           | $      | 12,413  |   |
| Other comprehensive income, net of tax:                 |                             |              |                             |
| Change in unrealized gains on securities available for sale | 1,003                  |         |                             | 171  |   |
| Reclassification adjustment - legislative rate change       | —                |         |                             | (99)      |   |
| Tax effect                                                  | (250)                       |         |                             | (43)      |   |
| Total other comprehensive income, net of  tax               | 753                    |         |                             | 29   |   |
| Comprehensive income                                        | $                           | 37,153  |                        |           | $      | 12,442  |   |

----

|                                                                                      |                 |        |                     |               |                     |                 |               |                           |               |                           |                  |                                            |                                                  |                           |               |        |               |        |               |        |               |        |               |           |               |               |               |        |       |           |        |          |          |        |               |               |        |  |  |  |  |  |  |  |
|--------------------------------------------------------------------------------------|-----------------|--------|---------------------|---------------|---------------------|-----------------|---------------|---------------------------|---------------|---------------------------|------------------|--------------------------------------------|--------------------------------------------------|---------------------------|---------------|--------|---------------|--------|---------------|--------|---------------|--------|---------------|-----------|---------------|---------------|---------------|--------|-------|-----------|--------|----------|----------|--------|---------------|---------------|--------|--|--|--|--|--|--|--|
|                                                                                      | Common Stock    |        | Class ACommon Stock |               | Class BCommon Stock |                 |               | UnearnedESOP Compensation |               | AdditionalPaid-In Capital | RetainedEarnings | AccumulatedOtherComprehensiveIncome (Loss) | Less:Redeemablecommon stockowned by the ESOP | Total Stockholders'Equity |
|                                                                                      | Shares          | Amount | Shares              | Amount        | Shares              | Amount          |               |                           |               |                           |                  |                                            |                                                  |                           |
| January 1, 2018                                                                      | —    |   | $                   | —  |                | 7,464,296  |          | $                         | 7,464    |                      | 115,005     |                                       | $                                                | 115                  |          |        |               | $      | (3,948)       |   |               | $      | —  |      | $             | 222,231  |          | $      | (500) |      | $      | (73,247) |     | $      | 152,115  |          |
|                                                                                      |                 |        |                     |               |                     |                 |               |                           |               |                           |                  |                                            |                                                  |                           |               |        |
| Net income                                                                           | —    |   | —        |          | —        |            | —  |                      | —  |                      | —     |                                       |                                                  | —              |          |        | —  |   | 12,413   |   | —  |   | —  |      | 12,413   |          |
| Other comprehensive income, net                                                      | —    |   | —        |          | —        |            | —  |                      | —  |                      | —     |                                       |                                                  | —              |          |        | —  |   | —  |   | 128      |   | —  |      | 128      |          |
| Stock based compensation                                                             | —    |   | —        |          | 12,693         |            | 13       |                      | —  |                      | —     |                                       |                                                  | —              |          |        | 180      |   | —  |   | —  |   | —  |      | 193      |          |
| Net change fair value of ESOP shares                                                 | —    |   | —        |          | —        |            | —  |                      | —  |                      | —     |                                       |                                                  | —              |          |        | —  |   | —  |   | —  |   | 2,740    |      | 2,740    |          |
| Common stock released by ESOP                                                        | —    |   | —        |          | —        |            | —  |                      | —  |                      | —     |                                       |                                                  | 986                  |          |        | —  |   | —  |   | —  |   | —  |      | 986      |          |
| Reclass stranded tax effects of rate change                                          | —    |   | —        |          | —        |            | —  |                      | —  |                      | —     |                                       |                                                  | —              |          |        | —  |   | 99       |   | (99)          |   | —  |      | —  |          |
| Dividends declared:                                                              |                 |        |                     |               |                     |                 |               |                           |               |                           |                  |                                            |                                                  |                           |               |        |
| Class A common ($1.20 per share)                                                     | —    |   | —        |          | —        |            | —  |                      | —  |                      | —     |                                       |                                                  | —              |          |        | —  |   | (8,876)       |   | —  |   | —  |      | (8,876)       |          |
| Class B common ($1.25 per share)                                                     | —    |   | —        |          | —        |            | —  |                      | —  |                      | —     |                                       |                                                  | —              |          |        | —  |   | (144)         |   | —  |   | —  |      | (144)         |          |
| December 31, 2018                                                                    | —    |   | —        |          | 7,476,989      |            | 7,477    |                      | 115,005  |                      | 115         |                                       |                                                  | (2,962)                   |          |        | 180      |   | 225,723  |   | (471)         |   | (70,507)      |      | 159,555  |          |
| Net income                                                                           | —    |   | —        |          | —        |            | —  |                      | —  |                      | —     |                                       |                                                  |                           | —  |   |               |        | —  |   | 36,400   |   | —  |      | —  |          | 36,400   |   |
| Impact of adoption of ASU 2016-02 related to leases                                  | —    |   | —        |          | —        |            | —  |                      | —  |                      | —     |                                       |                                                  |                           | —  |   |               |        | —  |   | (5,240)       |   | —  |      | —  |          | (5,240)       |   |
| Conversion of Class A and B Common Stock to Common Stock                             | 7,591,994  |   | 7,592          |          | (7,476,989)         |            | (7,477)       |                      | (115,005)     |                      | (115)            |                                       |                                                  |                           | —  |   |               |        | —  |   | —  |   | —  |      | —  |          | —  |   |
| Other comprehensive income, net                                                      | —    |   | —        |          | —        |            | —  |                      | —  |                      | —     |                                       |                                                  |                           | —  |   |               |        | —  |   | —  |   | 753      |      | —  |          | 753      |   |
| Issuance of restricted stock                                                         | 61,880     |   | 62             |          | —        |            | —  |                      | —  |                      | —     |                                       |                                                  |                           | —  |   |               |        | (62)          |   | —  |   | —  |      | —  |          | —  |   |
| Shares withheld to satisfy withholding obligation in the vesting of restricted stock | (917)           |   | (1)                 |          | —        |            | —  |                      | —  |                      | —     |                                       |                                                  |                           | —  |   |               |        | (45)          |   | —  |   | —  |      | —  |          | (46)          |   |
| Stock based compensation                                                             | —    |   | —        |          | —        |            | —  |                      | —  |                      | —     |                                       |                                                  |                           | —  |   |               |        | 738      |   | —  |   | —  |      | —  |          | 738      |   |
| Net change fair value of ESOP shares                                                 | —    |   | —        |          | —        |            | —  |                      | —  |                      | —     |                                       |                                                  |                           | —  |   |               |        | —  |   | —  |   | —  |      | (8,801)       |          | (8,801)       |   |
| Common stock acquired by ESOP                                                        | —    |   | —        |          | —        |            | —  |                      | —  |                      | —     |                                       |                                                  |                           | (2,499)       |   |               |        | —  |   | —  |   | —  |      | —  |          | (2,499)       |   |
| Common stock released by ESOP                                                        | —    |   | —        |          | —        |            | —  |                      | —  |                      | —     |                                       |                                                  |                           | 985      |   |               |        | —  |   | —  |   | —  |      | —  |          | 985      |   |
| Dividends declared ($1.28 per share)                                                 | —    |   | —        |          | —        |            | —  |                      | —  |                      | —     |                                       |                                                  |                           | —  |   |               |        | —  |   | (9,642)       |   | —  |      | —  |          | (9,642)       |   |
| December 31, 2019                                                                    | 7,652,957  |   | $                   | 7,653    |                | —    |          | $                         | —  |                      | —     |                                       | $                                                | —              |          |        |               | $      | (4,476)       |   |               |        | $             | 811  |          | $             | 247,241  |   | $     | 282  |   | $        | (79,308) |   | $             | 172,203  |   |

----

|                                                                                |                             |              |                             |               |           |              |        |  |  |  |  |
|--------------------------------------------------------------------------------|-----------------------------|--------------|-----------------------------|---------------|-----------|--------------|--------|--|--|--|--|
|                                                                                | Year Ended December 31,2019 |              | Year Ended December 31,2018 |
|                                                                                |                             |              |                             |
| Cash flows from operating activities:                                      |                             |              |                             |
| Net income per consolidated statements of income                               | $                           | 36,400  |                        |               | $         | 12,413  |   |
| Adjustments to reconcile net income to net cash from operating activities: |                             |              |                             |
| Provision for loan losses                                                      | 586                    |         |                             | 15,227   |      |
| Depreciation and amortization                                                  | 5,180                  |         |                             | 5,134    |      |
| Net loss on sales of premises and equipment                                    | 816                    |         |                             | 478      |      |
| Net (gain) loss on sales of other real estate                                  | (311)                       |         |                             | 2,091    |      |
| Write-downs of other real estate                                               | 75                     |         |                             | 20,526   |      |
| Deferred income tax (benefit) expense                                          | 5,130                  |         |                             | (6,057)       |      |
| Federal Home Loan Bank stock dividends                                         | (84)                        |         |                             | (262)         |      |
| Common stock released by ESOP                                                  | 985                    |         |                             | 986      |      |
| Stock based compensation expense                                               | 738                    |         |                             | 193      |      |
| Origination of loans held for sale                                             | (222,655)                   |         |                             | (164,582)     |      |
| Proceeds from loans held for sale                                              | 215,469                |         |                             | 168,475  |      |
| Earnings on bank-owned life insurance                                          | (1,628)                     |         |                             | (1,648)       |      |
| Net change in:                                                             |                             |              |                             |
| Accrued interest receivable and other assets                                   | 2,961                  |         |                             | (664)         |      |
| Accrued interest payable and other liabilities                                 | 5,211                  |         |                             | 340      |      |
| Net cash from operating activities                                             | 48,873                 |         |                             | 52,650   |      |
|                                                                                |                             |              |                             |
| Cash flows from investing activities:                                      |                             |              |                             |
| Purchases of securities available for sale                                     | (202,691)                   |         |                             | —  |      |
| Maturities and calls of securities available for sale                          | 91,318                 |         |                             | 87,504   |      |
| Purchases of securities held to maturity                                       | (20,343)                    |         |                             | (22,134)      |      |
| Maturities, prepayments and calls of securities held to maturity               | 134,650                |         |                             | 62,823   |      |
| Net increase in loans                                                          | (10,854)                    |         |                             | (178,583)     |      |
| Purchases of premises and equipment                                            | (6,237)                     |         |                             | (5,126)       |      |
| Proceeds from sales of premises and equipment                                  | 507                    |         |                             |               | 270  |         |
| Proceeds from sales of other real estate                                       | 10,667                 |         |                             | 9,427    |      |
| Investment in unconsolidated entities, net                                     | (801)                       |         |                             | (470)         |      |
| Proceeds from redemptions of Federal Home Loan Bank stock                      | —                |         |                             | 10,815   |      |
| Net cash used in investing activities                                          | (3,784)                     |         |                             | (35,474)      |      |
|                                                                                |                             |              |                             |

----

|                                                          |                             |               |                             |               |               |               |        |  |  |  |  |
|----------------------------------------------------------|-----------------------------|---------------|-----------------------------|---------------|---------------|---------------|--------|--|--|--|--|
|                                                          | Year Ended December 31,2019 |               | Year Ended December 31,2018 |
|                                                          |                             |               |                             |
|                                                          |                             |               |                             |
| Cash flows from financing activities:                |                             |               |                             |
| Net increase (decrease) in:                          |                             |               |                             |
| Noninterest-bearing deposits                             | $                           | 11,188   |                        |               | $             | 16,509   |   |
| Money market, NOW and savings deposits                   | 138,568                |          |                             | 290,633  |          |
| Certificates of deposit                                  | (11,103)                    |          |                             | 25,965   |          |
| Short-term borrowings                                    | —                |          |                             | (100,112)     |          |
| Proceeds from long-term FHLB advances                    | —                |          |                             | 60,852   |          |
| Payments on long-term FHLB advances                      | (280)                       |          |                             | (235,425)     |          |
| Payments on other borrowings                             | (3,500)                     |          |                             | (3,500)       |          |
| Common stock acquired by ESOP                            | (2,499)                     |          |                             |               | —  |          |
| Shares withheld to pay taxes on restricted stock vesting | (46)                        |          |                             |               | —  |          |
| Cash dividends paid on common stock                      | (9,642)                     |          |                             | (9,020)       |          |
| Net cash from financing activities                       | 122,686                |          |                             | 45,902   |          |
|                                                          |                             |               |                             |
| Net change in cash and cash equivalents                  | 167,775                |          |                             | 63,078   |          |
|                                                          |                             |               |                             |
| Cash and cash equivalents at beginning of year           | 145,197                |          |                             | 82,119   |          |
|                                                          |                             |               |                             |
| Cash and cash equivalents at end of year                 | $                           | 312,972  |                        |               | $             | 145,197  |   |
|                                                          |                             |               |                             |
| Supplemental cash flow information:                  |                             |               |                             |
| Interest paid                                            | $                           | 21,050   |                        |               | $             | 12,227   |   |
| Federal and state income tax payments                    | 1,500                  |          |                             | 8,300    |          |
| Acquisition of real estate in non-cash foreclosures      | 3,366                  |          |                             | 8,236    |          |

----

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|                                       |                   |              |                   |                 |        |              |        |  |  |  |  |
|---------------------------------------|-------------------|--------------|-------------------|-----------------|--------|--------------|--------|--|--|--|--|
|                                       | December 31, 2019 |              | December 31, 2018 |
| Net income                            | $                 | 36,400  |              |                 | $      | 12,413  |   |
|                                       |                   |              |                   |                 |        |
| Common stock                          | 7,534,302    |         |                   | 7,497,081  |   |
| Diluted effect of unallocated stock   | 81,656       |         |                   | 92,166     |   |
| Total weighted average diluted shares | 7,615,958    |         |                   | 7,589,247  |   |
|                                       |                   |              |                   |
| Basic earnings per common shares      | $                 | 4.83    |              |                 | $      | 1.66    |   |
| Diluted earnings per common shares    | $                 | 4.78    |              |                 | $      | 1.64    |   |

----

|                                        |                |               |                  |  |               |        |               |        |               |        |   |           |               |        |  |   |               |        |  |  |  |  |  |
|----------------------------------------|----------------|---------------|------------------|--|---------------|--------|---------------|--------|---------------|--------|---|-----------|---------------|--------|--|---|---------------|--------|--|--|--|--|--|
|                                        | Amortized Cost |               | Gross Unrealized |  |               |        | Fair Value    |
|                                        |                |               | Gains            |  | Losses        |        |               |
| December 31, 2019                      |                |               |                  |  |               |        |               |
| U.S. Government agencies               | $              | 17,999   |             |  |               | $      | 104      |   |               |        | $ | 1    |          |        |  | $ | 18,102   |   |
| Residential mortgage-backed securities | 175,696   |          |                  |  | 693      |   |               |        | 510      |   |   |           | 175,879  |   |
| Commercial mortgage-backed securities  | 3,002     |          |                  |  | 8        |   |               |        | —  |   |   |           | 3,010    |   |
| Corporate investments                  | 4,000     |          |                  |  | 82       |   |               |        | —  |   |   |           | 4,082    |   |
| Total available for sale               | $              | 200,697  |             |  |               | $      | 887      |   |               |        | $ | 511  |          |        |  | $ | 201,073  |   |
|                                        |                |               |                  |  |               |        |               |
| December 31, 2018                      |                |               |                  |  |               |        |               |        |               |        |   |           |               |        |
| U.S. Government agencies               | $              | 81,895   |             |  |               | $      | —  |   |               |        | $ | 618  |          |        |  | $ | 81,277   |   |
| Residential mortgage-backed securities | 3,704     |          |                  |  | 52       |   |               |        | 163      |   |   |           | 3,593    |   |
| Commercial mortgage-backed securities  | 323       |          |                  |  | —  |   |               |        | 4        |   |   |           | 319      |   |
| Corporate investments                  | 4,000     |          |                  |  | 106      |   |               |        | —  |   |   |           | 4,106    |   |
| Total available for sale               | $              | 89,922   |             |  |               | $      | 158      |   |               |        | $ | 785  |          |        |  | $ | 89,295   |   |

|                                        |                |               |                  |  |             |        |               |        |               |        |   |               |               |        |  |   |               |        |  |  |  |  |  |
|----------------------------------------|----------------|---------------|------------------|--|-------------|--------|---------------|--------|---------------|--------|---|---------------|---------------|--------|--|---|---------------|--------|--|--|--|--|--|
|                                        | Amortized Cost |               | Gross Unrealized |  |             |        | Fair Value    |
|                                        |                |               | Gains            |  | Losses      |        |               |
| December 31, 2019                      |                |               |                  |  |             |        |               |
| U.S. Government agencies               | $              | 5,000    |             |  |             | $      | 3        |   |               |        | $ | —  |          |        |  | $ | 5,003    |   |
| Residential mortgage-backed securities | 1,071     |          |                  |  | 41     |   |               |        | —  |   |   |               | 1,112    |   |
| States and political subdivisions      | 171,783   |          |                  |  | 1,339  |   |               |        | 12       |   |   |               | 173,110  |   |
| Total held to maturity                 | $              | 177,854  |             |  |             | $      | 1,383    |   |               |        | $ | 12       |          |        |  | $ | 179,225  |   |
|                                        |                |               |                  |  |             |        |               |        |               |        |   |               |               |        |
| December 31, 2018                      |                |               |                  |  |             |        |               |        |               |        |   |               |               |        |
| U.S. Government agencies               | $              | 92,945   |             |  |             | $      | —  |   |               |        | $ | 896      |          |        |  | $ | 92,049   |   |
| Residential mortgage-backed securities | 1,208     |          |                  |  | 23     |   |               |        | 21       |   |   |               | 1,210    |   |
| States and political subdivisions      | 198,448   |          |                  |  | 674    |   |               |        | 1,155    |   |   |               | 197,967  |   |
| Total held to maturity                 | $              | 292,601  |             |  |             | $      | 697      |   |               |        | $ | 2,072    |          |        |  | $ | 291,226  |   |

----

|                                        |                     |               |                   |           |                   |               |                   |        |              |             |                   |               |              |          |        |           |              |              |        |  |             |               |        |  |  |   |             |        |  |  |  |  |  |  |  |
|----------------------------------------|---------------------|---------------|-------------------|-----------|-------------------|---------------|-------------------|--------|--------------|-------------|-------------------|---------------|--------------|----------|--------|-----------|--------------|--------------|--------|--|-------------|---------------|--------|--|--|---|-------------|--------|--|--|--|--|--|--|--|
|                                        | Less Than 12 Months |               |                   |           | 12 Months or More |               |                   |        | Total        |             |                   |
|                                        | Fair Value          |               | Unrealized Losses |           | Fair Value        |               | Unrealized Losses |        | Fair Value   |             | Unrealized Losses |
|                                        |                     |               |                   |           |                   |               |                   |        |              |             |                   |
| December 31, 2019:                 |                     |               |                   |           |                   |               |                   |        |              |             |                   |
| Available for sale:                |                     |               |                   |           |                   |               |                   |        |              |             |                   |
| U. S. Government agencies              | $                   | —  |              |           | $                 | —  |              |        | $            | 4,999  |              |               | $            | 1   |   |           | $            | 4,999   |   |  | $           | 1        |   |
| Residential mortgage-backed securities | 92,323         |          |                   | 466  |              |               | 2,240        |   |              | 44     |              |               | 94,563  |     |        | 510  |         |
|                                        | $                   | 92,323   |              |           | $                 | 466      |              |        | $            | 7,239  |              |               | $            | 45  |   |           | $            | 99,562  |   |  | $           | 511      |   |
| Held to maturity:                  |                     |               |                   |           |                   |               |                   |        |              |             |                   |
| States and political subdivisions      | $                   | 2,656    |              |           | $                 | 8        |              |        | $            | 2,766  |              |               | $            | 4   |   |           | $            | 5,422   |   |  | $           | 12       |   |
|                                        |                     |               |                   |           |                   |               |                   |        |              |             |                   |               |              |          |        |           |              |              |        |  |             |               |
| December 31, 2018:                 |                     |               |                   |           |                   |               |                   |        |              |             |                   |               |              |          |        |           |              |              |        |  |             |               |
| Available for sale:                |                     |               |                   |           |                   |               |                   |        |              |             |                   |               |              |          |        |           |              |              |        |  |             |               |
| U. S. Government agencies              | $                   | 7,893    |              |           |                   | $             | 86           |   |              |             | $                 | 73,384   |         |          |        | $         | 532     |         |        |  | $           | 81,277   |   |  |  | $ | 618    |   |
| Residential mortgage-backed securities | —        |          |                   |           | —      |          |                   |        | 2,672   |        |                   |               | 163     |     |        |           | 2,672   |         |        |  | 163    |          |
| Commercial mortgage-backed securities  | —        |          |                   |           | —      |          |                   |        | 319     |        |                   |               | 4       |     |        |           | 319     |         |        |  | 4      |          |
|                                        | $                   | 7,893    |              |           |                   | $             | 86           |   |              |             | $                 | 76,375   |         |          |        | $         | 699     |         |        |  | $           | 84,268   |   |  |  | $ | 785    |   |
| Held to maturity:                  |                     |               |                   |           |                   |               |                   |        |              |             |                   |               |              |          |        |           |              |              |        |  |             |               |
| U.S Government agencies                | $                   | 14,819   |              |           |                   | $             | 172          |   |              |             | $                 | 72,230   |         |          |        | $         | 724     |         |        |  | $           | 87,049   |   |  |  | $ | 896    |   |
| Residential mortgage-backed securities | —        |          |                   |           | —      |          |                   |        | 791     |        |                   |               | 21      |     |        |           | 791     |         |        |  | 21     |          |
| States and political subdivisions      | 24,459         |          |                   |           | 399          |          |                   |        | 38,504  |        |                   |               | 756     |     |        |           | 62,963  |         |        |  | 1,155  |          |
|                                        | $                   | 39,278   |              |           |                   | $             | 571          |   |              |             | $                 | 111,525  |         |          |        | $         | 1,501   |         |        |  | $           | 150,803  |   |  |  | $ | 2,072  |   |

----

|                              |                    |               |            |               |                  |               |               |        |               |               |        |               |               |               |        |   |               |        |  |  |  |  |  |
|------------------------------|--------------------|---------------|------------|---------------|------------------|---------------|---------------|--------|---------------|---------------|--------|---------------|---------------|---------------|--------|---|---------------|--------|--|--|--|--|--|
|                              | Available for Sale |               |            |               | Held to Maturity |               |               |
|                              | Amortized Cost     |               | Fair Value |               | Amortized Cost   |               | Fair Value    |
| December 31, 2019:       |                    |               |            |               |                  |               |               |
| One year or less             | $                  | 10,000   |       |               | $                | 9,999    |          |        | $             | 23,318   |   |               | $             | 23,375   |   |
| After one through five years | 11,999        |          |            | 12,185   |             |               | 68,804   |   |               | 69,035   |   |
| After five through ten years | —       |          |            | —  |             |               | 67,411   |   |               | 68,091   |   |
| After ten years              | —       |          |            | —  |             |               | 17,250   |   |               | 17,612   |   |
|                              | 21,999        |          |            | 22,184   |             |               | 176,783  |   |               | 178,113  |   |
| Mortgage-backed investments  | 178,698       |          |            | 178,889  |             |               | 1,071    |   |               | 1,112    |   |
|                              | $                  | 200,697  |       |               | $                | 201,073  |          |        | $             | 177,854  |   |               | $             | 179,225  |   |
| December 31, 2018:       |                    |               |            |               |                  |               |               |
| One year or less             | $                  | 63,918   |       |               |                  | $             | 63,497   |   |               |               | $      | 69,065   |          |               |        | $ | 68,929   |   |
| After one through five years | 13,998        |          |            |               | 13,993      |          |               |        | 123,525  |          |        |               | 122,793  |          |
| After five through ten years | 7,979         |          |            |               | 7,893       |          |               |        | 75,656   |          |        |               | 75,460   |          |
| After ten years              | —       |          |            |               | —     |          |               |        | 23,147   |          |        |               | 22,834   |          |
|                              | 85,895        |          |            |               | 85,383      |          |               |        | 291,393  |          |        |               | 290,016  |          |
| Mortgage-backed investments  | 4,027         |          |            |               | 3,912       |          |               |        | 1,208    |          |        |               | 1,210    |          |
|                              | $                  | 89,922   |       |               |                  | $             | 89,295   |   |               |               | $      | 292,601  |          |               |        | $ | 291,226  |   |

|                   |                    |               |            |  |                  |               |            |  |   |               |        |  |   |               |        |  |  |  |  |  |  |  |  |
|-------------------|--------------------|---------------|------------|--|------------------|---------------|------------|--|---|---------------|--------|--|---|---------------|--------|--|--|--|--|--|--|--|--|
|                   | Available for Sale |               |            |  | Held to Maturity |               |            |
|                   | Amortized Cost     |               | Fair Value |  | Amortized Cost   |               | Fair Value |
|                   |                    |               |            |  |                  |               |            |
| December 31, 2019 | $                  | 124,854  |       |  | $                | 125,103  |       |  | $ | 123,978  |   |  | $ | 125,241  |   |
|                   |                    |               |            |  |                  |               |            |
| December 31, 2018 | $                  | 56,927   |       |  | $                | 56,441   |       |  | $ | 186,476  |   |  | $ | 185,393  |   |

----

|                                                    |                   |                 |                   |                 |        |                 |        |  |  |  |  |
|----------------------------------------------------|-------------------|-----------------|-------------------|-----------------|--------|-----------------|--------|--|--|--|--|
|                                                    | December 31, 2019 |                 | December 31, 2018 |
| Secured by real estate:                        |                   |                 |                   |
| Residential properties                             | $                 | 555,413    |              |                 | $      | 568,806    |   |
| Construction and land development                  | 230,931      |            |                   | 221,990    |   |
| Farmland                                           | 162,991      |            |                   | 156,539    |   |
| Other commercial                                   | 664,145      |            |                   | 664,219    |   |
| Total real estate                                  | 1,613,480    |            |                   | 1,611,554  |   |
| Commercial and industrial loans                    | 333,834      |            |                   | 321,166    |   |
| Agricultural production and other loans to farmers | 70,145       |            |                   | 76,151     |   |
| Consumer and other loans                           | 61,538       |            |                   | 65,850     |   |
|                                                    |                   |                 |                   |
| Total loans before allowance for loan losses       | $                 | 2,078,997  |              |                 | $      | 2,074,721  |   |

----

|                                                    |                   |              |                   |               |          |              |        |  |  |  |  |
|----------------------------------------------------|-------------------|--------------|-------------------|---------------|----------|--------------|--------|--|--|--|--|
|                                                    | December 31, 2019 |              | December 31, 2018 |
| Secured by real estate:                        |                   |              |                   |
| Residential properties                             | $                 | 2,419   |              |               | $        | 1,606   |   |
| Construction and land development                  | 390          |         |                   | 50       |     |
| Farmland                                           | —      |         |                   | 390      |     |
| Other commercial                                   | 9,034        |         |                   | 9,238    |     |
| Total real estate                                  | 11,843       |         |                   | 11,284   |     |
| Commercial and industrial loans                    | 67           |         |                   | 320      |     |
| Agricultural production and other loans to farmers | 62           |         |                   |               | 85  |         |
| Consumer and other loans                           | 187          |         |                   | —  |     |
|                                                    |                   |              |                   |
| Total non-accrual loans                            | $                 | 12,159  |              |               | $        | 11,689  |   |

----

|                                                    |                     |              |                          |               |                |             |              |        |             |                 |                                       |  |                 |                 |        |               |        |                 |        |  |   |             |        |  |  |  |  |  |  |  |  |  |  |  |  |
|----------------------------------------------------|---------------------|--------------|--------------------------|---------------|----------------|-------------|--------------|--------|-------------|-----------------|---------------------------------------|--|-----------------|-----------------|--------|---------------|--------|-----------------|--------|--|---|-------------|--------|--|--|--|--|--|--|--|--|--|--|--|--|
|                                                    | Past Due 30-89 Days |              | Past Due 90 Days or more |               | Total Past Due |             | Current      |        | Total Loans |                 | Past Due 90 days or more and Accruing |
|                                                    |                     |              |                          |               |                |             |              |        |             |                 |                                       |
|                                                    |                     |              |                          |               |                |             |              |        |             |                 |                                       |
| December 31, 2019                                  |                     |              |                          |               |                |             |              |        |             |                 |                                       |
| Secured by real estate:                        |                     |              |                          |               |                |             |              |        |             |                 |                                       |
| Residential properties                             | $                   | 6,262   |                     |               | $              | 2,610  |         |        | $           | 8,872      |                                  |  | $               | 546,541    |   |               | $      | 555,413    |   |  | $ | 1,745  |   |
| Construction and land development                  | 688            |         |                          | —  |           |             | 688     |   |             | 230,243    |                                  |  | 230,931    |            |        | —  |   |
| Farmland                                           | 253            |         |                          | 149      |           |             | 402     |   |             | 162,589    |                                  |  | 162,991    |            |        | 149      |   |
| Other commercial                                   | 1,227          |         |                          | 724      |           |             | 1,951   |   |             | 662,194    |                                  |  | 664,145    |            |        | 418      |   |
| Total real estate                                  | 8,430          |         |                          | 3,483    |           |             | 11,913  |   |             | 1,601,567  |                                  |  | 1,613,480  |            |        | 2,312    |   |
| Commercial and industrial loans                    | 375            |         |                          | 255      |           |             | 630     |   |             | 333,204    |                                  |  | 333,834    |            |        | 235      |   |
| Agricultural production and other loans to farmers | 400            |         |                          | 20       |           |             | 420     |   |             | 69,725     |                                  |  | 70,145     |            |        | 20       |   |
| Consumer loans                                     | 795            |         |                          | 51       |           |             | 846     |   |             | 60,692     |                                  |  | 61,538     |            |        | 51       |   |
|                                                    |                     |              |                          |               |                |             |              |        |             |                 |                                       |
| Total                                              | $                   | 10,000  |                     |               | $              | 3,809  |         |        | $           | 13,809     |                                  |  | $               | 2,065,188  |   |               | $      | 2,078,997  |   |  | $ | 2,618  |   |

|                                                    |                     |              |                          |             |                |             |              |        |             |                 |                                       |  |                 |                 |        |             |        |                 |        |  |   |             |        |  |  |  |  |  |  |  |  |  |  |  |  |
|----------------------------------------------------|---------------------|--------------|--------------------------|-------------|----------------|-------------|--------------|--------|-------------|-----------------|---------------------------------------|--|-----------------|-----------------|--------|-------------|--------|-----------------|--------|--|---|-------------|--------|--|--|--|--|--|--|--|--|--|--|--|--|
|                                                    | Past Due 30-89 Days |              | Past Due 90 Days or more |             | Total Past Due |             | Current      |        | Total Loans |                 | Past Due 90 days or more and Accruing |
|                                                    |                     |              |                          |             |                |             |              |        |             |                 |                                       |
|                                                    |                     |              |                          |             |                |             |              |        |             |                 |                                       |
| December 31, 2018                                  |                     |              |                          |             |                |             |              |        |             |                 |                                       |
| Secured by real estate:                        |                     |              |                          |             |                |             |              |        |             |                 |                                       |
| Residential properties                             | $                   | 6,321   |                     |             | $              | 3,876  |         |        | $           | 10,197     |                                  |  | $               | 558,609    |   |             | $      | 568,806    |   |  | $ | 2,866  |   |
| Construction and land development                  | 705            |         |                          | 70     |           |             | 775     |   |             | 221,215    |                                  |  | 221,990    |            |        | 21     |   |
| Farmland                                           | 324            |         |                          | 613    |           |             | 937     |   |             | 155,602    |                                  |  | 156,539    |            |        | 223    |   |
| Other commercial                                   | 2,356          |         |                          | 465    |           |             | 2,821   |   |             | 661,398    |                                  |  | 664,219    |            |        | 433    |   |
| Total real estate                                  | 9,706          |         |                          | 5,024  |           |             | 14,730  |   |             | 1,596,824  |                                  |  | 1,611,554  |            |        | 3,543  |   |
| Commercial and industrial loans                    | 1,556          |         |                          | 163    |           |             | 1,719   |   |             | 319,447    |                                  |  | 321,166    |            |        | 128    |   |
| Agricultural production and other loans to farmers | 476            |         |                          | 122    |           |             | 598     |   |             | 75,553     |                                  |  | 76,151     |            |        | 37     |   |
| Consumer loans                                     | 1,066          |         |                          | 109    |           |             | 1,175   |   |             | 64,675     |                                  |  | 65,850     |            |        | 109    |   |
|                                                    |                     |              |                          |             |                |             |              |        |             |                 |                                       |
| Total                                              | $                   | 12,804  |                     |             | $              | 5,418  |         |        | $           | 18,222     |                                  |  | $               | 2,056,499  |   |             | $      | 2,074,721  |   |  | $ | 3,817  |   |

----

|                                                    |                   |              |                      |               |                   |              |                    |        |                     |               |        |  |               |              |        |  |   |           |        |  |  |  |  |  |  |  |  |  |  |
|----------------------------------------------------|-------------------|--------------|----------------------|---------------|-------------------|--------------|--------------------|--------|---------------------|---------------|--------|--|---------------|--------------|--------|--|---|-----------|--------|--|--|--|--|--|--|--|--|--|--|
|                                                    | December 31, 2019 |              |                      |               |                   |              |                    |        |                     |
|                                                    | Principal Balance |              | Recorded Balance (1) |               | Related Allowance |              | Average Investment |        | Interest Recognized |
| Impaired loans with no related allowance:      |                   |              |                      |               |                   |              |                    |        |                     |
| Secured by real estate:                        |                   |              |                      |               |                   |              |                    |        |                     |
| Residential properties                             | $                 | 4,789   |                 |               | $                 | 3,789   |               |        | $                   | —  |   |  | $             | 3,879   |   |  | $ | 85   |   |
| Construction and land development                  | 3,919        |         |                      | 2,009    |              |              | —       |   |                     | 2,135    |   |  | 175      |         |
| Farmland                                           | 10,993       |         |                      | 10,937   |              |              | —       |   |                     | 2,831    |   |  | 12       |         |
| Other commercial                                   | 3,893        |         |                      | 2,400    |              |              | —       |   |                     | 3,799    |   |  | 96       |         |
| Total real estate                                  | 23,594       |         |                      | 19,135   |              |              | —       |   |                     | 12,644   |   |  | 368      |         |
| Commercial and industrial                          | 384          |         |                      | 67       |              |              | —       |   |                     | 190      |   |  | —  |         |
| Agricultural production and other loans to farmers | 75           |         |                      | 62       |              |              | —       |   |                     | 74       |   |  | —  |         |
| Consumer and other loans                           | 211          |         |                      | 187      |              |              | —       |   |                     | 93       |   |  | —  |         |
|                                                    |                   |              |                      |               |                   |              |                    |        |                     |
| Total                                              | 24,264       |         |                      | 19,451   |              |              | —       |   |                     | 13,001   |   |  | 368      |         |
|                                                    |                   |              |                      |               |                   |              |                    |        |                     |
| Impaired loans with related allowance:         |                   |              |                      |               |                   |              |                    |        |                     |
| Secured by real estate:                        |                   |              |                      |               |                   |              |                    |        |                     |
| Residential properties                             | 1,127        |         |                      | 1,127    |              |              | 11            |   |                     | 1,134    |   |  | 66       |         |
| Construction and land development                  | —      |         |                      | —  |              |              | —       |   |                     | —  |   |  | —  |         |
| Farmland                                           | —      |         |                      | —  |              |              | —       |   |                     | —  |   |  | —  |         |
| Other commercial                                   | 10,114       |         |                      | 10,076   |              |              | 3,325         |   |                     | 8,383    |   |  | 12       |         |
| Total real estate                                  | 11,241       |         |                      | 11,203   |              |              | 3,336         |   |                     | 9,517    |   |  | 78       |         |
| Commercial and industrial                          | 427          |         |                      | 427      |              |              | 34            |   |                     | 434      |   |  | 30       |         |
| Agricultural production and other loans to farmers | —      |         |                      | —  |              |              | —       |   |                     | —  |   |  | —  |         |
| Consumer and other loans                           | —      |         |                      | —  |              |              | —       |   |                     | —  |   |  | —  |         |
|                                                    |                   |              |                      |               |                   |              |                    |        |                     |
| Total                                              | 11,668       |         |                      | 11,630   |              |              | 3,370         |   |                     | 9,951    |   |  | 108      |         |
|                                                    |                   |              |                      |               |                   |              |                    |        |                     |
| Total impaired loans                               | $                 | 35,932  |                 |               | $                 | 31,081  |               |        | $                   | 3,370    |   |  | $             | 22,952  |   |  | $ | 476  |   |

----

|                                                    |                   |              |                      |               |                   |              |                    |        |                     |               |        |  |               |              |        |  |   |           |        |  |  |  |  |  |  |  |  |  |  |
|----------------------------------------------------|-------------------|--------------|----------------------|---------------|-------------------|--------------|--------------------|--------|---------------------|---------------|--------|--|---------------|--------------|--------|--|---|-----------|--------|--|--|--|--|--|--|--|--|--|--|
|                                                    | December 31, 2018 |              |                      |               |                   |              |                    |        |                     |
|                                                    | Principal Balance |              | Recorded Balance (1) |               | Related Allowance |              | Average Investment |        | Interest Recognized |
| Impaired loans with no related allowance:      |                   |              |                      |               |                   |              |                    |        |                     |
| Secured by real estate:                        |                   |              |                      |               |                   |              |                    |        |                     |
| Residential properties                             | $                 | 3,588   |                 |               | $                 | 2,906   |               |        | $                   | —  |   |  | $             | 3,413   |   |  | $ | 133  |   |
| Construction and land development                  | 5,295        |         |                      | 2,432    |              |              | —       |   |                     | 4,700    |   |  | 234      |         |
| Farmland                                           | 446          |         |                      | 390      |              |              | —       |   |                     | 533      |   |  | —  |         |
| Other commercial                                   | 5,714        |         |                      | 4,486    |              |              | —       |   |                     | 5,808    |   |  | 289      |         |
| Total real estate                                  | 15,043       |         |                      | 10,214   |              |              | —       |   |                     | 14,454   |   |  | 656      |         |
| Commercial and industrial                          | 552          |         |                      | 320      |              |              | —       |   |                     | 429      |   |  | —  |         |
| Agricultural production and other loans to farmers | 85           |         |                      | 85       |              |              | —       |   |                     | 17       |   |  | —  |         |
| Consumer loans                                     | —      |         |                      | —  |              |              | —       |   |                     | —  |   |  | —  |         |
|                                                    |                   |              |                      |               |                   |              |                    |        |                     |
| Total                                              | 15,680       |         |                      | 10,619   |              |              | —       |   |                     | 14,900   |   |  | 656      |         |
|                                                    |                   |              |                      |               |                   |              |                    |        |                     |
| Impaired loans with related allowance:         |                   |              |                      |               |                   |              |                    |        |                     |
| Secured by real estate:                        |                   |              |                      |               |                   |              |                    |        |                     |
| Residential properties                             | 1,145        |         |                      | 1,145    |              |              | 13            |   |                     | 1,090    |   |  | 67       |         |
| Construction and land development                  | —      |         |                      | —  |              |              | —       |   |                     | 4,138    |   |  | —  |         |
| Farmland                                           | —      |         |                      | —  |              |              | —       |   |                     | —  |   |  | —  |         |
| Other commercial                                   | 8,492        |         |                      | 8,492    |              |              | 5,614         |   |                     | 2,123    |   |  | —  |         |
| Total real estate                                  | 9,637        |         |                      | 9,637    |              |              | 5,627         |   |                     | 7,351    |   |  | 67       |         |
| Commercial and industrial                          | 445          |         |                      | 445      |              |              | 30            |   |                     | 658      |   |  | 28       |         |
| Agricultural production and other loans to farmers | —      |         |                      | —  |              |              | —       |   |                     | —  |   |  | —  |         |
| Consumer loans                                     | —      |         |                      | —  |              |              | —       |   |                     | —  |   |  | —  |         |
|                                                    |                   |              |                      |               |                   |              |                    |        |                     |
| Total                                              | 10,082       |         |                      | 10,082   |              |              | 5,657         |   |                     | 8,009    |   |  | 95       |         |
|                                                    |                   |              |                      |               |                   |              |                    |        |                     |
| Total impaired loans                               | $                 | 25,762  |                 |               | $                 | 20,701  |               |        | $                   | 5,657    |   |  | $             | 22,909  |   |  | $ | 751  |   |

----

|                             |                 |        |                      |  |                     |             |        |  |             |        |             |        |  |  |  |  |  |
|-----------------------------|-----------------|--------|----------------------|--|---------------------|-------------|--------|--|-------------|--------|-------------|--------|--|--|--|--|--|
|                             | Number of Loans |        | Balance Prior to TDR |  | Balance at Year End |
| December 31, 2019           |                 |        |                      |  |                     |
| Secured by real estate: |                 |        |                      |  |                     |
| Other commercial            | 2          |   |                      |  | $                   | 7,493  |   |  |             | $      | 7,454  |   |
| Total real estate           | 2          |   |                      |  | 7,493          |        |        |  | 7,454  |   |
| Consumer and other loans    | 1          |   |                      |  | $                   | 188    |   |  |             | $      | 187    |   |
|                             |                 |        |                      |  |                     |             |        |  |             |        |
| Total                       | 3          |   |                      |  | $                   | 7,681  |   |  |             | $      | 7,641  |   |
|                             |                 |        |                      |  |                     |             |        |  |             |        |
| December 31, 2018           |                 |        |                      |  |                     |             |        |  |             |        |
| Secured by real estate: |                 |        |                      |  |                     |             |        |  |             |        |
| Other commercial            | 1          |   |                      |  | $                   | 308    |   |  |             | $      | 125    |   |
|                             |                 |        |                      |  |                     |             |        |  |             |        |
| Total                       | 1          |   |                      |  | $                   | 308    |   |  |             | $      | 125    |   |

----

----

|                                                    |                 |                 |              |               |              |           |              |        |       |               |        |  |                 |               |        |  |   |                 |        |  |  |  |  |  |  |  |  |  |  |
|----------------------------------------------------|-----------------|-----------------|--------------|---------------|--------------|-----------|--------------|--------|-------|---------------|--------|--|-----------------|---------------|--------|--|---|-----------------|--------|--|--|--|--|--|--|--|--|--|--|
|                                                    | Risk Grades 1-6 |                 | Risk Grade 7 |               | Risk Grade 8 |           | Risk Grade 9 |        | Total |
| December 31, 2019                                  |                 |                 |              |               |              |           |              |        |       |
| Secured by real estate:                        |                 |                 |              |               |              |           |              |        |       |
| Residential properties                             | $               | 540,933    |         |               | $            | 177  |         |        | $     | 14,303   |   |  | $               | —  |   |  | $ | 555,413    |   |
| Construction and land development                  | 229,933    |            |              | 388      |         |           | 610     |   |       | —  |   |  | 230,931    |          |
| Farmland                                           | 151,354    |            |              | —  |         |           | 11,637  |   |       | —  |   |  | 162,991    |          |
| Other commercial                                   | 645,891    |            |              | —  |         |           | 18,254  |   |       | —  |   |  | 664,145    |          |
| Total real estate                                  | 1,568,111  |            |              | 565      |         |           | 44,804  |   |       | —  |   |  | 1,613,480  |          |
| Commercial and industrial                          | 331,693    |            |              | —  |         |           | 2,060   |   |       | 81       |   |  | 333,834    |          |
| Agricultural production and other loans to farmers | 69,854     |            |              | —  |         |           | 291     |   |       | —  |   |  | 70,145     |          |
| Consumer and other loans                           | 61,220     |            |              | —  |         |           | 318     |   |       | —  |   |  | 61,538     |          |
| Total                                              | $               | 2,030,878  |         |               | $            | 565  |         |        | $     | 47,473   |   |  | $               | 81       |   |  | $ | 2,078,997  |   |

|                                                    |                 |                 |              |               |              |               |              |        |       |               |        |  |                 |               |        |  |   |                 |        |  |  |  |  |  |  |  |  |  |  |
|----------------------------------------------------|-----------------|-----------------|--------------|---------------|--------------|---------------|--------------|--------|-------|---------------|--------|--|-----------------|---------------|--------|--|---|-----------------|--------|--|--|--|--|--|--|--|--|--|--|
|                                                    | Risk Grades 1-6 |                 | Risk Grade 7 |               | Risk Grade 8 |               | Risk Grade 9 |        | Total |
| December 31, 2018                                  |                 |                 |              |               |              |               |              |        |       |
| Secured by real estate:                        |                 |                 |              |               |              |               |              |        |       |
| Residential properties                             | $               | 553,889    |         |               | $            | —  |         |        | $     | 14,917   |   |  | $               | —  |   |  | $ | 568,806    |   |
| Construction and land development                  | 220,486    |            |              | —  |         |               | 1,504   |   |       | —  |   |  | 221,990    |          |
| Farmland                                           | 155,613    |            |              | —  |         |               | 926     |   |       | —  |   |  | 156,539    |          |
| Other commercial                                   | 648,211    |            |              | —  |         |               | 16,008  |   |       | —  |   |  | 664,219    |          |
| Total real estate                                  | 1,578,199  |            |              | —  |         |               | 33,355  |   |       | —  |   |  | 1,611,554  |          |
| Commercial and industrial                          | 318,879    |            |              | 61       |         |               | 2,209   |   |       | 17       |   |  | 321,166    |          |
| Agricultural production and other loans to farmers | 75,451     |            |              | —  |         |               | 700     |   |       | —  |   |  | 76,151     |          |
| Consumer and other loans                           | 65,641     |            |              | —  |         |               | 209     |   |       | —  |   |  | 65,850     |          |
| Total                                              | $               | 2,038,170  |         |               | $            | 61       |         |        | $     | 36,473   |   |  | $               | 17       |   |  | $ | 2,074,721  |   |

----

|                                       |                           |               |                        |                 |                   |                 |                    |        |             |               |        |  |               |               |        |                 |        |               |        |  |   |                 |        |  |  |  |  |  |  |  |  |  |  |  |  |
|---------------------------------------|---------------------------|---------------|------------------------|-----------------|-------------------|-----------------|--------------------|--------|-------------|---------------|--------|--|---------------|---------------|--------|-----------------|--------|---------------|--------|--|---|-----------------|--------|--|--|--|--|--|--|--|--|--|--|--|--|
|                                       | Commercial and Industrial |               | Commercial Real Estate |                 |  Residential |                 | Consumer and other |        | Unallocated |               | Total  |
| December 31, 2019                     |                           |               |                        |                 |                   |                 |                    |        |             |               |        |
| Allowance for loan losses:        |                           |               |                        |                 |                   |                 |                    |        |             |               |        |
| Balance, beginning of year            | $                         | 3,203    |                   |                 | $                 | 12,920     |               |        | $           | 5,358    |   |  | $             | 1,134    |   |                 | $      | 1,885    |   |  | $ | 24,500     |   |
| Provision for loan losses             | (386)                     |          |                        | (1,758)         |              |                 | 1,064         |   |             | 2,293    |   |  | (627)         |          |        | 586        |   |
| Recoveries on loans                   | 428                  |          |                        | 633        |              |                 | 529           |   |             | 3,236    |   |  | —  |          |        | 4,826      |   |
| Loans charged off                     | (472)                     |          |                        | (1,029)         |              |                 | (1,383)            |   |             | (5,528)       |   |  | —  |          |        | (8,412)         |   |
|                                       |                           |               |                        |                 |                   |                 |                    |        |             |               |        |
| Balance, end of year                  | $                         | 2,773    |                   |                 | $                 | 10,766     |               |        | $           | 5,568    |   |  | $             | 1,135    |   |                 | $      | 1,258    |   |  | $ | 21,500     |   |
|                                       |                           |               |                        |                 |                   |                 |                    |        |             |               |        |
| Allowance Balances:               |                           |               |                        |                 |                   |                 |                    |        |             |               |        |
| Individually evaluated for impairment | $                         | 34       |                   |                 | $                 | 3,325      |               |        | $           | 11       |   |  | $             | —  |   |                 | $      | —  |   |  | $ | 3,370      |   |
| Collectively evaluated for impairment | 2,739                |          |                        | 7,441      |              |                 | 5,557         |   |             | 1,135    |   |  | 1,258    |          |        | 18,130     |   |
|                                       |                           |               |                        |                 |                   |                 |                    |        |             |               |        |
| Ending balance                        | $                         | 2,773    |                   |                 | $                 | 10,766     |               |        | $           | 5,568    |   |  | $             | 1,135    |   |                 | $      | 1,258    |   |  | $ | 21,500     |   |
|                                       |                           |               |                        |                 |                   |                 |                    |        |             |               |        |
| Loan Balances:                    |                           |               |                        |                 |                   |                 |                    |        |             |               |        |
| Individually evaluated for impairment | $                         | 494      |                   |                 | $                 | 25,422     |               |        | $           | 4,916    |   |  | $             | 249      |   |                 | $      | —  |   |  | $ | 31,081     |   |
| Collectively evaluated for impairment | 333,340              |          |                        | 1,032,645  |              |                 | 550,497       |   |             | 131,434  |   |  | —  |          |        | 2,047,916  |   |
|                                       |                           |               |                        |                 |                   |                 |                    |        |             |               |        |
| Ending balance                        | $                         | 333,834  |                   |                 | $                 | 1,058,067  |               |        | $           | 555,413  |   |  | $             | 131,683  |   |                 | $      | —  |   |  | $ | 2,078,997  |   |

----

|                                       |                           |               |                        |             |                 |              |                    |        |               |             |        |               |               |             |        |              |               |             |        |  |                 |               |        |  |  |   |                 |        |  |  |  |  |  |  |  |
|---------------------------------------|---------------------------|---------------|------------------------|-------------|-----------------|--------------|--------------------|--------|---------------|-------------|--------|---------------|---------------|-------------|--------|--------------|---------------|-------------|--------|--|-----------------|---------------|--------|--|--|---|-----------------|--------|--|--|--|--|--|--|--|
|                                       | Commercial and Industrial |               | Commercial Real Estate |             | Residential     |              | Consumer and other |        | Unallocated   |             | Total  |
| December 31, 2018:                |                           |               |                        |             |                 |              |                    |        |               |             |        |
| Allowance for loan losses:        |                           |               |                        |             |                 |              |                    |        |               |             |        |
| Balance, beginning of year            | $                         | 2,856    |                   |             | $               | 7,700   |               |        | $             | 6,000  |   |               | $             | 782    |   |              | $             | 1,662  |   |  | $               | 19,000   |   |
| Provision for loan losses             | 1,577                |          |                        | 9,866  |            |              | 411           |   |               | 3,150  |   |               | 223      |        |        | 15,227  |          |
| Recoveries on loans                   | 264                  |          |                        | 511    |            |              | 268           |   |               | 2,818  |   |               | —  |        |        | 3,861   |          |
| Loans charged off                     | (1,494)                   |          |                        | (5,157)     |            |              | (1,321)            |   |               | (5,616)     |   |               | —  |        |        | (13,588)     |          |
|                                       |                           |               |                        |             |                 |              |                    |        |               |             |        |
| Balance, end of year                  | $                         | 3,203    |                   |             | $               | 12,920  |               |        | $             | 5,358  |   |               | $             | 1,134  |   |              | $             | 1,885  |   |  | $               | 24,500   |   |
|                                       |                           |               |                        |             |                 |              |                    |        |               |             |        |
| Allowance Balances:               |                           |               |                        |             |                 |              |                    |        |               |             |        |               |               |             |        |              |               |
| Individually evaluated for impairment | $                         | 30       |                   |             |                 | $            | 5,614         |   |               |             | $      | 13       |          |             |        | $            | —  |        |        |  | $               | —  |   |  |  | $ | 5,657      |   |
| Collectively evaluated for impairment | 3,173                |          |                        |             | 7,306      |         |                    |        | 5,345    |        |        |               | 1,134    |        |        |              | 1,885    |        |        |  | 18,843     |          |
|                                       |                           |               |                        |             |                 |              |                    |        |               |             |        |               |               |             |        |              |               |             |        |  |                 |               |
| Ending balance                        | $                         | 3,203    |                   |             |                 | $            | 12,920        |   |               |             | $      | 5,358    |          |             |        | $            | 1,134    |        |        |  | $               | 1,885    |   |  |  | $ | 24,500     |   |
|                                       |                           |               |                        |             |                 |              |                    |        |               |             |        |               |               |             |        |              |               |             |        |  |                 |               |
| Loan Balances:                    |                           |               |                        |             |                 |              |                    |        |               |             |        |               |               |             |        |              |               |             |        |  |                 |               |
| Individually evaluated for impairment | $                         | 765      |                   |             |                 | $            | 15,800        |   |               |             | $      | 4,051    |          |             |        | $            | 85       |        |        |  | $               | —  |   |  |  | $ | 20,701     |   |
| Collectively evaluated for impairment | 320,401              |          |                        |             | 1,026,948  |         |                    |        | 564,755  |        |        |               | 141,916  |        |        |              | —  |        |        |  | 2,054,020  |          |
|                                       |                           |               |                        |             |                 |              |                    |        |               |             |        |               |               |             |        |              |               |             |        |  |                 |               |
| Ending balance                        | $                         | 321,166  |                   |             |                 | $            | 1,042,748     |   |               |             | $      | 568,806  |          |             |        | $            | 142,001  |        |        |  | $               | —  |   |  |  | $ | 2,074,721  |   |

|                                                |                  |              |                   |               |        |              |        |  |  |  |  |
|------------------------------------------------|------------------|--------------|-------------------|---------------|--------|--------------|--------|--|--|--|--|
|                                                | December 31,2019 |              | December 31, 2018 |
|                                                |                  |              |                   |
| Land                                           | $                | 20,208  |              |               | $      | 21,546  |   |
| Bank premises                                  | 54,895      |         |                   | 56,154   |   |
| Leasehold improvements                         | 13,092      |         |                   | 11,716   |   |
| Data processing equipment                      | 33,915      |         |                   | 32,371   |   |
| Furniture and other equipment                  | 40,491      |         |                   | 40,242   |   |
|                                                | 162,601     |         |                   | 162,029  |   |
| Less accumulated depreciation and amortization | (87,529)         |         |                   | (86,043)      |   |
|                                                |                  |              |                   |
|                                                | $                | 75,072  |              |               | $      | 75,986  |   |

----

|                                                   |                  |              |                  |              |        |              |        |  |  |  |  |
|---------------------------------------------------|------------------|--------------|------------------|--------------|--------|--------------|--------|--|--|--|--|
|                                                   | December 31,2019 |              | December 31,2018 |
|                                                   |                  |              |                  |
| Amortized intangible assets                       | $                | 366     |             |              | $      | 975     |   |
| Other real estate owned                           | 4,851       |         |                  | 11,916  |   |
| Cash value of life insurance                      | 61,220      |         |                  | 59,592  |   |
| Federal Home Loan Bank stock                      | 2,585       |         |                  | 2,501   |   |
| Deferred income tax                               | 409         |         |                  | 5,789   |   |
| Investment in MS ECD LIHTC Fund 1                 | 1,054       |         |                  | 1,197   |   |
| Investment in Pharos Capital Partners III-A, L.P. | 3,226       |         |                  | 2,271   |   |
| Investment in statutory trusts                    | 1,238       |         |                  | 1,238   |   |
| Other                                             | 10,236      |         |                  | 11,729  |   |
|                                                   | $                | 85,185  |             |              | $      | 97,208  |   |

----

|                                 |                       |             |                         |             |                     |             |               |        |   |               |        |  |  |  |  |  |  |
|---------------------------------|-----------------------|-------------|-------------------------|-------------|---------------------|-------------|---------------|--------|---|---------------|--------|--|--|--|--|--|--|
|                                 | GrossIntangibleAssets |             | AccumulatedAmortization |             | NetIntangibleAssets |
| December 31, 2019               |                       |             |                         |             |                     |
| Core deposit intangibles        | $                     | 855    |                    |             | $                   | 855    |          |        | $ | —  |   |
| Acquired customer relationships | 1,415            |        |                         | 1,049  |                |             | 366      |   |
| Non-compete agreements          | 90               |        |                         | 90     |                |             | —  |   |
|                                 | $                     | 2,360  |                    |             | $                   | 1,994  |          |        | $ | 366      |   |

|                                 |             |             |        |           |        |             |               |        |   |               |        |  |  |  |  |  |  |
|---------------------------------|-------------|-------------|--------|-----------|--------|-------------|---------------|--------|---|---------------|--------|--|--|--|--|--|--|
| December 31, 2018               |             |             |        |           |        |
| Core deposit intangibles        | $           | 855    |   |           | $      | 855    |          |        | $ | —  |   |
| Acquired customer relationships | 1,415  |        |        | 440  |   |             | 975      |   |
| Non-compete agreements          | 90     |        |        | 90   |   |             | —  |   |
|                                 | $           | 2,360  |   |           | $      | 1,385  |          |        | $ | 975      |   |

|            |           |           |        |  |  |
|------------|-----------|-----------|--------|--|--|
| 2020       | $         | 39   |   |
| 2021       | 39   |      |
| 2022       | 39   |      |
| 2023       | 39   |      |
| 2024       | 39   |      |
| After 2024 | 171  |      |
|            | $         | 366  |   |

----

|                                                                  |  |             |        |  |  |  |  |  |
|------------------------------------------------------------------|--|-------------|--------|--|--|--|--|--|
| Lease weighted averages:                                     |  |             |
| Weighted average remaining lease term (years) - operating leases |  | 16.27  |   |
| Weighted average discount rate - operating leases                |  | 5.00   | %      |

|                          |  |                   |             |        |  |  |  |  |
|--------------------------|--|-------------------|-------------|--------|--|--|--|--|
|                          |  | Year Ended        |
|                          |  | December 31, 2019 |
| Lease expense:       |  |                   |
| Operating lease expense  |  | $                 | 5,122  |   |
| Variable lease expense   |  | 419          |        |
| Short-term lease expense |  | 65           |        |
| Sublease income          |  | (35)              |        |
| Total lease expense      |  | $                 | 5,571  |   |

|                            |  |                   |              |        |  |  |  |  |
|----------------------------|--|-------------------|--------------|--------|--|--|--|--|
|                            |  | December 31, 2019 |
| Year 1                     |  | $                 | 4,620   |   |
| Year 2                     |  | 4,632        |         |
| Year 3                     |  | 4,551        |         |
| Year 4                     |  | 4,448        |         |
| Year 5                     |  | 4,328        |         |
| Thereafter                 |  | 45,070       |         |
| Total lease payments       |  | 67,649       |         |
| Less: Imputed interest |  | (24,071)          |         |
| Total lease obligation     |  | $                 | 43,578  |   |

----

|                                                                                       |  |                   |              |        |  |  |  |  |
|---------------------------------------------------------------------------------------|--|-------------------|--------------|--------|--|--|--|--|
|                                                                                       |  | Year Ended        |
|                                                                                       |  | December 31, 2019 |
| Cash paid for amounts included in the measurement of operating lease liabilities: |  |                   |
| Operating cash flow from operating leases                                             |  | $                 | 4,950   |   |
| ROU assets obtained in exchange for lease obligations:                            |  |                   |              |
| Operating leases                                                                      |  | $                 | 43,070  |   |
| Reduction to ROU assets resulting from reductions to lease obligations:           |  |                   |              |
| Operating leases                                                                      |  | $                 | 3,876   |   |

|                          |                   |              |                   |             |        |              |        |  |  |  |  |
|--------------------------|-------------------|--------------|-------------------|-------------|--------|--------------|--------|--|--|--|--|
|                          | December 31, 2019 |              | December 31, 2018 |
|                          |                   |              |                   |
| Beginning balance        | $                 | 11,916  |              |             | $      | 35,724  |   |
| Additions                | 3,366        |         |                   | 8,236  |   |
| Proceeds from sales      | (10,667)          |         |                   | (9,427)     |   |
| Write-downs              | (75)              |         |                   | (20,526)    |   |
| Net gain (loss) on sales | 311          |         |                   | (2,091)     |   |
| Balance at end of period | $                 | 4,851   |              |             | $      | 11,916  |   |

|                                         |                   |                 |                   |                 |        |                 |        |  |  |  |  |
|-----------------------------------------|-------------------|-----------------|-------------------|-----------------|--------|-----------------|--------|--|--|--|--|
|                                         | December 31, 2019 |                 | December 31, 2018 |
| Noninterest-bearing                     | $                 | 637,377    |              |                 | $      | 626,189    |   |
| Interest bearing:                   |                   |                 |                   |
| Money market, NOW and savings accounts  | 1,569,970    |            |                   | 1,431,402  |   |
| Certificates of deposit of $250 or more | 110,291      |            |                   | 118,391    |   |
| Other certificates of deposit           | 274,427      |            |                   | 277,430    |   |
| Total interest bearing                  | 1,954,688    |            |                   | 1,827,223  |   |
| Total deposits                          | $                 | 2,592,065  |              |                 | $      | 2,453,412  |   |

----

|            |                   |               |        |  |  |
|------------|-------------------|---------------|--------|--|--|
|            | December 31, 2019 |
| 2020       | $                 | 264,814  |   |
| 2021       | 82,750       |          |
| 2022       | 24,226       |          |
| 2023       | 7,964        |          |
| 2024       | 4,964        |          |
| After 2024 | —      |          |
|            | $                 | 384,718  |   |

|                                               |                      |               |              |               |              |               |                       |        |              |               |        |  |               |        |  |               |        |  |  |  |  |  |  |  |  |  |  |  |  |
|-----------------------------------------------|----------------------|---------------|--------------|---------------|--------------|---------------|-----------------------|--------|--------------|---------------|--------|--|---------------|--------|--|---------------|--------|--|--|--|--|--|--|--|--|--|--|--|--|
|                                               | Balances Outstanding |               |              |               |              |               | Weighted Average Rate |        |              |
|                                               | MaximumMonth End     |               | AverageDaily |               | AtPeriod End |               | DuringPeriod          |        | AtPeriod End |
| December 31, 2019:                        |                      |               |              |               |              |               |                       |        |              |
| Federal funds purchased                       | $                    | —  |         |               | $            | —  |                  |        | $            | —  |   |  | —  | %      |  | —  |   |
| Securities sold underagreements to repurchase | —         |          |              | —  |         |               | —          |   |              | —  | %      |  | —  |   |
|                                               |                      |               |              |               |              |               |                       |        |              |
|                                               | $                    | —  |         |               | $            | —  |                  |        | $            | —  |   |  |               |        |  |

|                                               |              |              |        |              |        |              |               |        |   |               |        |  |               |   |  |               |        |  |  |  |  |  |  |  |  |  |  |  |  |
|-----------------------------------------------|--------------|--------------|--------|--------------|--------|--------------|---------------|--------|---|---------------|--------|--|---------------|---|--|---------------|--------|--|--|--|--|--|--|--|--|--|--|--|--|
| December 31, 2018:                        |              |              |        |              |        |              |               |        |   |
| Federal funds purchased                       | $            | 1,351   |   |              | $      | 1,108   |          |        | $ | —  |   |  | 2.45     | % |  | —  |   |
| Securities sold underagreements to repurchase | 93,454  |         |        | 38,980  |   |              | —  |   |   | 0.16     | %      |  | —  | % |
|                                               |              |              |        |              |        |              |               |        |   |
|                                               | $            | 94,805  |   |              | $      | 40,088  |          |        | $ | —  |   |  |               |   |  |

----

|                              |                     |              |                   |             |                     |              |        |  |  |  |  |
|------------------------------|---------------------|--------------|-------------------|-------------|---------------------|--------------|--------|--|--|--|--|
|                              | December 31, 2019   |              | December 31, 2018 |
| Balance:                 |                     |              |                   |
| Single payment advances      | $                   | 20,000  |              |             | $                   | 20,000  |   |
| Amortizing advances          | 1,027          |         |                   | 1,307  |                |
|                              |                     |              |                   |
|                              | $                   | 21,027  |              |             | $                   | 21,307  |   |
|                              |                     |              |                   |
| Range of interest rates: |                     |              |                   |
| Single payment advances      | 1.42% - 1.53%  |         |                   |             | 1.42% - 1.53%  |         |
| Amortizing advances          | 1.10% - 2.94%  |         |                   |             | 1.10% - 2.94%  |         |
|                              |                     |              |                   |
| Range of maturities:     |                     |              |                   |
| Single payment advances      | 2027                |              | 2027              |
| Amortizing advances          | 2020 - 2028         |              | 2019 - 2028       |

----

|            |                   |              |                   |              |        |              |        |  |  |  |  |
|------------|-------------------|--------------|-------------------|--------------|--------|--------------|--------|--|--|--|--|
|            | December 31, 2019 |              | December 31, 2018 |
| 2020       | $                 | 3,647   |              |              | $      | 3,508   |   |
| 2021       | 13,307       |         |                   | 3,692   |   |
| 2022       | 433          |         |                   | 13,440  |   |
| 2023       | 157          |         |                   | 471     |   |
| 2024       | —      |         |                   | 203     |   |
| Thereafter | 20,108       |         |                   | 20,118  |   |
|            | $                 | 37,652  |              |              | $      | 41,432  |   |

|                              |                 |  |                           |  |                  |              |                  |              |        |              |        |  |  |  |  |  |  |  |  |  |  |  |  |
|------------------------------|-----------------|--|---------------------------|--|------------------|--------------|------------------|--------------|--------|--------------|--------|--|--|--|--|--|--|--|--|--|--|--|--|
|                              | Year ofMaturity |  | InterestRate              |  | December 31,2019 |              | December 31,2018 |
| BancPlus Statutory Trust II  | 2036            |  | 3 month LIBOR, plus 1.50% |  | $                | 20,619  |             |              | $      | 20,619  |   |
| BancPlus Statutory Trust III | 2037            |  | 3 month LIBOR, plus 1.35% |  | 20,619      |         |                  | 20,619  |   |
|                              |                 |  |                           |  | $                | 41,238  |             |              | $      | 41,238  |   |

----

|                                                     |                             |              |                             |             |        |              |        |  |  |  |  |
|-----------------------------------------------------|-----------------------------|--------------|-----------------------------|-------------|--------|--------------|--------|--|--|--|--|
|                                                     | Year Ended December 31,2019 |              | Year Ended December 31,2018 |
| Income from fiduciary activities                    | $                           | 4,709   |                        |             | $      | 4,883   |   |
| ATM income                                          | 4,548                  |         |                             | 4,396  |   |
| Brokerage and insurance fees and commissions        | 3,516                  |         |                             | 3,862  |   |
| Other real estate income and gains                  | 1,028                  |         |                             | 370    |   |
| Life insurance income                               | 1,628                  |         |                             | 1,648  |   |
| Community Development Financial Institutions grants | 960                    |         |                             | 1,317  |   |
| Other                                               | 2,417                  |         |                             | 2,580  |   |
|                                                     | $                           | 18,806  |                        |             | $      | 19,056  |   |

|                                       |                             |              |                             |              |        |              |        |  |  |  |  |
|---------------------------------------|-----------------------------|--------------|-----------------------------|--------------|--------|--------------|--------|--|--|--|--|
|                                       | Year Ended December 31,2019 |              | Year Ended December 31,2018 |
| Advertising and marketing             | $                           | 3,518   |                        |              | $      | 3,617   |   |
| Other real estate expenses and losses | 1,250                  |         |                             | 23,373  |   |
| FDIC and State insurance assessments  | 851                    |         |                             | 1,147   |   |
| Professional fees                     | 1,991                  |         |                             | 2,140   |   |
| Security expense                      | 1,045                  |         |                             | 1,110   |   |
| Supplies                              | 805                    |         |                             | 888     |   |
| Other                                 | 10,999                 |         |                             | 9,458   |   |
|                                       | $                           | 21,874  |                        |              | $      | 41,733  |   |

----

|                               |                  |             |                  |                 |        |             |        |  |  |  |  |
|-------------------------------|------------------|-------------|------------------|-----------------|--------|-------------|--------|--|--|--|--|
|                               | December 31,2019 |             | December 31,2018 |
| Allocated shares              | 1,355,699   |        |                  | 1,410,132  |   |
| Unearned shares               | 78,926      |        |                  | 76,712     |   |
| Total ESOP shares             | 1,434,625   |        |                  | 1,486,844  |   |
|                               |                  |             |                  |
| Fair value of unearned shares | $                | 4,617  |             |                 | $      | 3,836  |   |

----

|               |                   |             |                   |             |        |             |        |  |  |  |  |
|---------------|-------------------|-------------|-------------------|-------------|--------|-------------|--------|--|--|--|--|
|               | December 31, 2019 |             | December 31, 2018 |
| Current:  |                   |             |                   |
| Federal       | $                 | 3,095  |              |             | $      | 5,050  |   |
| State         | 768          |        |                   | 1,196  |   |
|               | 3,863        |        |                   | 6,246  |   |
| Deferred: |                   |             |                   |
| Federal       | 4,152        |        |                   | (4,773)     |   |
| State         | 978          |        |                   | (1,284)     |   |
|               | 5,130        |        |                   | (6,057)     |   |
|               | $                 | 8,993  |              |             | $      | 189    |   |

|                                                                          |                  |             |                  |          |        |             |        |  |  |  |  |
|--------------------------------------------------------------------------|------------------|-------------|------------------|----------|--------|-------------|--------|--|--|--|--|
|                                                                          | December 31,2019 |             | December 31,2018 |
| Amount computed on earnings before income taxes                          | $                | 9,532  |             |          | $      | 2,562  |   |
| Tax effect of:                                                       |                  |             |                  |
| Income from tax-exempt investments, net of disallowed interest deduction | (701)            |        |                  | (789)    |   |
| State income taxes, net of Federal tax benefit                           | 1,380       |        |                  | (70)     |   |
| Life insurance income                                                    | (341)            |        |                  | (345)    |   |
| Qualified School Construction Bond credits                               | (854)            |        |                  | (854)    |   |
| Low Income Housing Tax credits                                           | (221)            |        |                  | (221)    |   |
| Non-deductible expense                                                   | 337         |        |                  | 73  |   |
| Other, net                                                               | (139)            |        |                  | (167)    |   |
|                                                                          |                  |             |                  |
|                                                                          | $                | 8,993  |             |          | $      | 189    |   |

----

|                                                  |                  |             |                  |              |               |             |        |  |  |  |  |
|--------------------------------------------------|------------------|-------------|------------------|--------------|---------------|-------------|--------|--|--|--|--|
|                                                  | December 31,2019 |             | December 31,2018 |
| Deferred tax assets:                         |                  |             |                  |
| Allowance for loan losses                        | $                | 5,481  |             |              | $             | 6,421  |   |
| Other real estate                                | 1,488       |        |                  | 5,970   |          |
| Amortization of intangibles                      | 187         |        |                  | 67      |          |
| Restricted stock                                 | 131         |        |                  |              | —  |        |
| Unrealized loss on securities available for sale | —     |        |                  | 156     |          |
| Accrued expenses                                 | 443         |        |                  | 178     |          |
| Total deferred tax assets                        | 7,730       |        |                  | 12,792  |          |
|                                                  |                  |             |                  |
| Deferred tax liabilities:                    |                  |             |                  |
| Depreciation of premises and equipment           | (5,918)          |        |                  | (5,878)      |          |
| Federal Home Loan Bank stock dividends           | (85)             |        |                  | (66)         |          |
| Investment securities                            | (56)             |        |                  | (54)         |          |
| Partnership income                               | (70)             |        |                  | (82)         |          |
| Prepaid expenses                                 | (1,079)          |        |                  | (904)        |          |
| Unrealized gain on securities available for sale | (94)             |        |                  |              | —  |        |
| Other                                            | (19)             |        |                  | (19)         |          |
| Total deferred tax liabilities                   | (7,321)          |        |                  | (7,003)      |          |
|                                                  |                  |             |                  |
| Net deferred tax assets (liabilities)            | $                | 409    |             |              | $             | 5,789  |   |
|                                                  |                  |             |                  |

----

|                                   |                  |               |                  |             |        |               |        |  |  |  |  |
|-----------------------------------|------------------|---------------|------------------|-------------|--------|---------------|--------|--|--|--|--|
|                                   | December 31,2019 |               | December 31,2018 |
| Loan commitments to extend credit | $                | 476,936  |             |             | $      | 465,075  |   |
| Standby letters of credit         | 4,853       |          |                  | 4,047  |   |

----

|                                        |                |               |        |             |                                       |   |               |        |                                 |             |       |            |               |        |                |               |        |               |        |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|----------------------------------------|----------------|---------------|--------|-------------|---------------------------------------|---|---------------|--------|---------------------------------|-------------|-------|------------|---------------|--------|----------------|---------------|--------|---------------|--------|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
|                                        | Actual         |               |        |             | Minimum requirement Phase-In Schedule |   |               |        | Required to be Well Capitalized |             |       |
|                                        |                |               |        |             |                                       |   |               |        |                                 |             |       |
|                                        | Capital Amount |               | Ratio  |             | Capital Amount                        |   | Ratio         |        | Capital Amount                  |             | Ratio |
| December 31, 2019:                 |                |               |        |             |                                       |   |               |        |                                 |             |       |
| Company:                           |                |               |        |             |                                       |   |               |        |                                 |             |       |
| CET1 Capital to Risk-Weighted Assets   | $              | 248,247  |   |             | 10.86                            | % |               | $      | 160,002                    |        |       | 7.00  | %             |        | n/a   |          |        | n/a  |   |
| Tier 1 Capital to Risk-Weighted Assets | 288,247   |          |        | 12.61  | %                                     |   | 194,288  |   |                                 | 8.50   | %     |            | n/a  |   |                | n/a  |   |
| Total Capital to Risk-Weighted Assets  | 309,747   |          |        | 13.55  | %                                     |   | 240,003  |   |                                 | 10.50  | %     |            | n/a  |   |                | n/a  |   |
| Tier 1 Capital to Average Assets       | 288,247   |          |        | 9.74   | %                                     |   | 118,373  |   |                                 | 4.00   | %     |            | n/a  |   |                | n/a  |   |
|                                        |                |               |        |             |                                       |   |               |        |                                 |             |       |
| Bank:                              |                |               |        |             |                                       |   |               |        |                                 |             |       |
| CET1 Capital to Risk-Weighted Assets   | $              | 284,513  |   |             | 12.49                            | % |               | $      | 159,469                    |        |       | 7.00  | %             |        | $148,078  |          |        | 6.50     | %      |
| Tier 1 Capital to Risk-Weighted Assets | 284,513   |          |        | 12.49  | %                                     |   | 193,641  |   |                                 | 8.50   | %     |            | 182,250  |   |                | 8.00     | %      |
| Total Capital to Risk-Weighted Assets  | 306,013   |          |        | 13.43  | %                                     |   | 239,203  |   |                                 | 10.50  | %     |            | 227,813  |   |                | 10.00    | %      |
| Tier 1 Capital to Average Assets       | 284,513   |          |        | 9.63   | %                                     |   | 118,134  |   |                                 | 4.00   | %     |            | 147,668  |   |                | 5.00     | %      |

----

|                                        |               |               |        |             |             |   |               |        |               |            |   |            |               |        |                |               |        |               |        |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|----------------------------------------|---------------|---------------|--------|-------------|-------------|---|---------------|--------|---------------|------------|---|------------|---------------|--------|----------------|---------------|--------|---------------|--------|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
| December 31, 2018:                 |               |               |        |             |             |   |               |        |               |            |   |
| Company:                           |               |               |        |             |             |   |               |        |               |            |   |
| CET1 Capital to Risk-Weighted Assets   | $             | 226,942  |   |             | 9.80   | % |               | $      | 147,650  |       |   | 6.38  | %             |        | n/a   |          |        | n/a  |   |
| Tier 1 Capital to Risk-Weighted Assets | 266,942  |          |        | 11.53  | %           |   | 182,391  |   |               | 7.88  | % |            | n/a  |   |                | n/a  |   |
| Total Capital to Risk-Weighted Assets  | 291,442  |          |        | 12.58  | %           |   | 228,712  |   |               | 9.88  | % |            | n/a  |   |                | n/a  |   |
| Tier 1 Capital to Average Assets       | 266,942  |          |        | 9.88   | %           |   | 10,807   |   |               | 4.00  | % |            | n/a  |   |                | n/a  |   |
|                                        |               |               |        |             |             |   |               |        |               |            |   |
| Bank:                              |               |               |        |             |             |   |               |        |               |            |   |
| CET1 Capital to Risk-Weighted Assets   | $             | 262,579  |   |             | 11.37  | % |               | $      | 147,234  |       |   | 6.38  | %             |        | $144,933  |          |        | 6.50     | %      |
| Tier 1 Capital to Risk-Weighted Assets | 262,579  |          |        | 11.37  | %           |   | 181,877  |   |               | 7.88  | % |            | 17,838   |   |                | 8.00     | %      |
| Total Capital to Risk-Weighted Assets  | 287,079  |          |        | 12.43  | %           |   | 228,068  |   |               | 9.88  | % |            | 222,974  |   |                | 10.00    | %      |
| Tier 1 Capital to Average Assets       | 262,579  |          |        | 9.79   | %           |   | 107,332  |   |               | 4.00  | % |            | 134,277  |   |                | 5.00     | %      |

----

----

|                                        |               |               |                               |               |         |               |               |        |   |               |        |  |   |               |        |  |  |  |  |  |  |  |  |
|----------------------------------------|---------------|---------------|-------------------------------|---------------|---------|---------------|---------------|--------|---|---------------|--------|--|---|---------------|--------|--|--|--|--|--|--|--|--|
|                                        | FairValue     |               | Fair Value Measurements Using |               |         |               |               |
|                                        |               |               | Level 1                       |               | Level 2 |               | Level 3       |
| December 31, 2019                      |               |               |                               |               |         |               |               |
| U.S. Government agencies               | $             | 18,102   |                          |               | $       | —  |          |        | $ | 18,102   |   |  | $ | —  |   |
| Residential mortgage-backed securities | 175,879  |          |                               | —  |    |               | 175,879  |   |   | —  |   |
| Commercial mortgage-backed securities  | 3,010    |          |                               | —  |    |               | 3,010    |   |   | —  |   |
| Corporate investments                  | 4,082    |          |                               | —  |    |               | 4,082    |   |   | —  |   |
| Total securities available for sale    | $             | 201,073  |                          |               | $       | —  |          |        | $ | 201,073  |   |  | $ | —  |   |

|                                        |             |              |        |               |        |               |             |        |   |               |        |  |   |               |        |  |  |  |  |  |  |  |  |
|----------------------------------------|-------------|--------------|--------|---------------|--------|---------------|-------------|--------|---|---------------|--------|--|---|---------------|--------|--|--|--|--|--|--|--|--|
| December 31, 2018                      |             |              |        |               |        |               |             |
| U.S. Government agencies               | $           | 81,277  |   |               | $      | —  |        |        | $ | 81,277   |   |  | $ | —  |   |
| Residential mortgage-backed securities | 3,593  |         |        | —  |   |               | 3,593  |   |   | —  |   |
| Commercial mortgage-backed securities  | 319    |         |        | —  |   |               | 319    |   |   | —  |   |
| Corporate investments                  | 4,106  |         |        | —  |   |               | 4,106  |   |   | —  |   |
| Total securities available for sale    | $           | 89,295  |   |               | $      | —  |        |        | $ | 89,295   |   |  | $ | —  |   |

|                                                       |            |              |                               |  |         |               |         |  |   |               |        |  |   |              |        |  |  |  |  |  |  |  |  |
|-------------------------------------------------------|------------|--------------|-------------------------------|--|---------|---------------|---------|--|---|---------------|--------|--|---|--------------|--------|--|--|--|--|--|--|--|--|
|                                                       | Fair Value |              | Fair Value Measurements Using |  |         |               |         |
|                                                       |            |              | Level 1                       |  | Level 2 |               | Level 3 |
| Impaired loans, net of allowance for loan losses: |            |              |                               |  |         |               |         |
| December 31, 2019                                     | $          | 27,711  |                          |  | $       | —  |    |  | $ | —  |   |  | $ | 27,711  |   |
| December 31, 2018                                     | $          | 15,044  |                          |  | $       | —  |    |  | $ | —  |   |  | $ | 15,044  |   |
|                                                       |            |              |                               |  |         |               |         |
| Other real estate:                                |            |              |                               |  |         |               |         |
| December 31, 2019                                     | $          | 4,851   |                          |  | $       | —  |    |  | $ | —  |   |  | $ | 4,851   |   |
| December 31, 2018                                     | $          | 11,916  |                          |  | $       | —  |    |  | $ | —  |   |  | $ | 11,916  |   |

----

|                                           |                                                               |              |                                                                        |  |                                     |  |                 |        |                |        |  |  |  |  |  |  |  |  |  |  |  |  |  |
|-------------------------------------------|---------------------------------------------------------------|--------------|------------------------------------------------------------------------|--|-------------------------------------|--|-----------------|--------|----------------|--------|--|--|--|--|--|--|--|--|--|--|--|--|--|
|                                           | Qualitative Information about Level 3 Fair Value Measurements |              |                                                                        |  |                                     |  |                 |
|                                           | Carrying Value                                                |              | Valuation Methods                                                      |  | Unobservable Inputs                 |  | Range           |
|                                           |                                                               |              |                                                                        |  |                                     |  |                 |
| December 31, 2019                         |                                                               |              |                                                                        |  |                                     |  |                 |
| Impaired loans, net of specific allowance | $                                                             | 27,711  |                                                                   |  | Third-party appraisals              |  | Selling costs   |        | 5% - 10%  |   |
|                                           |                                                               |              | Internal evaluations of real estate, accounts receivable and inventory |  | Discount of book value              |  | 15% - 50%  |   |
|                                           |                                                               |              |                                                                        |  |                                     |  |                 |
| Other real estate                         | $                                                             | 4,851   |                                                                   |  | Third-party and in-house appraisals |  | Selling costs   |        | 5% - 10%  |   |

|                                           |   |              |                                                                        |  |                                     |  |                 |        |                |        |  |  |  |  |  |  |  |  |  |  |  |  |  |
|-------------------------------------------|---|--------------|------------------------------------------------------------------------|--|-------------------------------------|--|-----------------|--------|----------------|--------|--|--|--|--|--|--|--|--|--|--|--|--|--|
| December 31, 2018                         |   |              |                                                                        |  |                                     |  |                 |
| Impaired loans, net of specific allowance | $ | 15,044  |                                                                   |  | Third-party appraisals              |  | Selling costs   |        | 5% - 10%  |   |
|                                           |   |              | Internal evaluations of real estate, accounts receivable and inventory |  | Discount of book value              |  | 15% - 50%  |   |
|                                           |   |              |                                                                        |  |                                     |  |                 |
| Other real estate                         | $ | 11,916  |                                                                   |  | Third-party and in-house appraisals |  | Selling costs   |        | 5% - 10%  |   |

----

|                                         |                   |               |            |                 |                   |               |                 |        |   |                 |        |  |   |               |        |  |  |  |  |  |  |  |  |
|-----------------------------------------|-------------------|---------------|------------|-----------------|-------------------|---------------|-----------------|--------|---|-----------------|--------|--|---|---------------|--------|--|--|--|--|--|--|--|--|
|                                         | December 31, 2019 |               |            |                 | December 31, 2018 |               |                 |
|                                         | Carrying Value    |               | Fair Value |                 | Carrying Value    |               | Fair Value      |
| Financial assets:                   |                   |               |            |                 |                   |               |                 |
| Level 1 inputs:                     |                   |               |            |                 |                   |               |                 |
| Cash and cash equivalents               | $                 | 312,972  |       |                 | $                 | 312,972  |            |        | $ | 145,197    |   |  | $ | 145,197  |   |
| Level 2 inputs:                     |                   |               |            |                 |                   |               |                 |
| Securities held to maturity             | 177,854      |          |            | 179,225    |              |               | 292,601    |   |   | 291,226    |   |
| Federal Home Loan Bank stock            | 2,585        |          |            | 2,585      |              |               | 2,501      |   |   | 2,501      |   |
| Accrued interest receivable             | 11,509       |          |            | 11,509     |              |               | 11,924     |   |   | 11,924     |   |
| Level 3 inputs:                     |                   |               |            |                 |                   |               |                 |
| Loans held for sale                     | 16,092       |          |            | 16,092     |              |               | 8,906      |   |   | 8,906      |   |
| Loans, net                              | 2,057,497    |          |            | 2,050,169  |              |               | 2,050,221  |   |   | 2,030,852  |   |
|                                         |                   |               |            |                 |                   |               |                 |
| Financial liabilities:              |                   |               |            |                 |                   |               |                 |
| Level 2 inputs:                     |                   |               |            |                 |                   |               |                 |
| Deposits                                | 2,592,065    |          |            | 2,593,910  |              |               | 2,453,412  |   |   | 2,454,417  |   |
| Advances from FHLB and other borrowings | 37,652       |          |            | 37,298     |              |               | 41,432     |   |   | 40,380     |   |
| Subordinated debentures                 | 41,238       |          |            | 41,238     |              |               | 41,238     |   |   | 41,238     |   |
| Accrued interest payable                | 1,083        |          |            | 1,083      |              |               | 1,035      |   |   | 1,035      |   |

|                   |                   |              |                   |  |             |        |              |        |  |  |  |
|-------------------|-------------------|--------------|-------------------|--|-------------|--------|--------------|--------|--|--|--|
|                   | December 31, 2019 |              | December 31, 2018 |
| Beginning balance | $                 | 16,886  |              |  |             | $      | 21,806  |   |
| Advances          | 6,145        |         |                   |  | 7,642  |   |
| Payments          | (5,227)           |         |                   |  | (12,562)    |   |
| Ending balance    | $                 | 17,804  |              |  |             | $      | 16,886  |   |

----

|                   |               |                  |  |                                        |             |        |  |  |  |  |  |
|-------------------|---------------|------------------|--|----------------------------------------|-------------|--------|--|--|--|--|--|
|                   |               | Number of Shares |  | Weighted Average Grant Date Fair Value |
| January 1, 2018   | —  |             |  | —                           |        |
| Granted           | 12,693   |             |  | $                                      | 53.00  |   |
| Vested            | —  |             |  | —                           |        |
| Forfeited         | —  |             |  | —                           |        |
| December 31, 2018 | 12,693   |             |  | 53.00                             |        |
| Granted           | 61,880   |             |  | 53.75                             |        |
| Vested            | (5,480)       |             |  | 53.00                             |        |
| Forfeited         | —  |             |  | —                           |        |
| December 31, 2019 | 69,093   |             |  | $                                      | 53.67  |   |

----

|                                                            |                   |               |                   |               |        |               |        |  |  |  |  |
|------------------------------------------------------------|-------------------|---------------|-------------------|---------------|--------|---------------|--------|--|--|--|--|
|                                                            | December 31, 2019 |               | December 31, 2018 |
| Assets                                                     |                   |               |                   |
| Cash                                                       | $                 | 14,028   |              |               | $      | 11,618   |   |
| Investment in banking subsidiary                           | 287,777      |          |                   | 265,699  |   |
| Due from Oakhurst Development, Inc.                        | 31,898       |          |                   | 34,185   |   |
| Equity in undistributed loss of Oakhurst Development, Inc. | (26,253)          |          |                   | (22,133)      |   |
| Investment in statutory trusts                             | 1,238        |          |                   | 1,238    |   |
| Other assets                                               | 919          |          |                   | 1,781    |   |
|                                                            | $                 | 309,607  |              |               | $      | 292,388  |   |
| Liabilities and Stockholders' Equity                       |                   |               |                   |
| Liabilities:                                           |                   |               |                   |
| Subordinated debentures payable to statutory trusts        | $                 | 41,238   |              |               | $      | 41,238   |   |
| Accrued interest payable                                   | 88           |          |                   | 106      |   |
| Deferred income taxes                                      | —      |          |                   | 1        |   |
| Note payable                                               | 16,625       |          |                   | 20,125   |   |
| Other liabilities                                          | 145          |          |                   | 856      |   |
| Total liabilities                                          | 58,096       |          |                   | 62,326   |   |
| Redeemable common stock owned by ESOP                      | 79,308       |          |                   | 70,507   |   |
| Stockholders' equity, net of ESOP owned shares             | 172,203      |          |                   | 159,555  |   |
|                                                            | $                 | 309,607  |              |               | $      | 292,388  |   |

|                                                            |                              |              |                              |              |        |              |        |  |  |  |  |
|------------------------------------------------------------|------------------------------|--------------|------------------------------|--------------|--------|--------------|--------|--|--|--|--|
|                                                            | Year Ended December 31, 2019 |              | Year Ended December 31, 2018 |
| Income:                                                |                              |              |                              |
| Dividends from banking subsidiary                          | $                            | 18,000  |                         |              | $      | 16,200  |   |
| Equity in undistributed income of banking subsidiary       | 22,078                  |         |                              | 4,188   |   |
| Equity in undistributed loss of Oakhurst Development, Inc. | (265)                        |         |                              | (5,852)      |   |
| Other income                                               | 48                      |         |                              | 44      |   |
| Total income                                               | 39,861                  |         |                              | 14,580  |   |
|                                                            |                              |              |                              |
| Expenses:                                              |                              |              |                              |
| Interest expense                                           | 719                     |         |                              | 850     |   |
| Other expenses                                             | 3,461                   |         |                              | 2,021   |   |
| Total expenses                                             | 4,180                   |         |                              | 2,871   |   |
|                                                            |                              |              |                              |
| Income before income taxes                                 | 35,681                  |         |                              | 11,709  |   |
| Income tax benefit                                         | 719                     |         |                              | 704     |   |
| Net Income                                                 | $                            | 36,400  |                         |              | $      | 12,413  |   |

----

|                                                                      |                              |              |                              |           |        |              |        |  |  |  |  |
|----------------------------------------------------------------------|------------------------------|--------------|------------------------------|-----------|--------|--------------|--------|--|--|--|--|
|                                                                      | Year Ended December 31, 2019 |              | Year Ended December 31, 2018 |
|                                                                      |                              |              |                              |
| Net income                                                           | $                            | 36,400  |                         |           | $      | 12,413  |   |
|                                                                      |                              |              |                              |
| Other comprehensive income, net of tax:                          |                              |              |                              |
| Change in unrealized gains (losses) on securities available for sale | 1,003                   |         |                              | 171  |   |
| Reclassification adjustment-legislative rate change                  | —                 |         |                              | (99)      |   |
| Tax effect                                                           | (250)                        |         |                              | (43)      |   |
| Total other comprehensive income, net of tax                         | 753                     |         |                              | 29   |   |
| Comprehensive income                                                 | $                            | 37,153  |                         |           | $      | 12,442  |   |

----

|                                                                                |                              |              |                              |               |               |              |        |  |  |  |  |
|--------------------------------------------------------------------------------|------------------------------|--------------|------------------------------|---------------|---------------|--------------|--------|--|--|--|--|
|                                                                                | Year Ended December 31, 2019 |              | Year Ended December 31, 2018 |
| Cash flows from operating activities:                                      |                              |              |                              |
| Net income                                                                     | $                            | 36,400  |                         |               | $             | 12,413  |   |
| Adjustments to reconcile net income to net cash from operating activities: |                              |              |                              |
| Common stock released by ESOP                                                  | 985                     |         |                              | 986      |          |
| Stock based compensation expense                                               | 105                     |         |                              | 193      |          |
| Equity in undistributed income of banking subsidiary                           | (22,078)                     |         |                              | (4,188)       |          |
| Equity in undistributed loss of Oakhurst Development, Inc.                     | 265                     |         |                              | 5,852    |          |
| Other, net                                                                     | 108                     |         |                              | (797)         |          |
| Net cash from operating activities                                             | 15,785                  |         |                              | 14,459   |          |
|                                                                                |                              |              |                              |
| Cash flows from investing activities:                                      |                              |              |                              |
| Investment in Oakhurst Development, Inc.                                       | 2,312                   |         |                              | 3,017    |          |
| Net cash from investing activities                                             | 2,312                   |         |                              | 3,017    |          |
|                                                                                |                              |              |                              |
| Cash flows from financing activities:                                      |                              |              |                              |
| Payments on other borrowings                                                   | (3,500)                      |         |                              | (3,500)       |          |
| Common stock acquired by ESOP                                                  | (2,499)                      |         |                              |               | —  |         |
| Shares withheld to pay taxes on restricted stock vesting                       | (46)                         |         |                              | —  |          |
| Cash dividends paid on common stock                                            | (9,642)                      |         |                              | (9,020)       |          |
| Net cash used in financing activities                                          | (15,687)                     |         |                              | (12,520)      |          |
|                                                                                |                              |              |                              |
| Net change in cash and cash equivalents                                        | 2,410                   |         |                              | 4,956    |          |
|                                                                                |                              |              |                              |
| Cash at beginning of year                                                      | 11,618                  |         |                              | 6,662    |          |
|                                                                                |                              |              |                              |
| Cash at end of year                                                            | $                            | 14,028  |                         |               | $             | 11,618  |   |

----

|                |                 |              |                     |              |            |              |                    |        |         |             |        |  |            |            |        |  |   |            |        |  |  |  |  |  |  |  |  |  |  |
|----------------|-----------------|--------------|---------------------|--------------|------------|--------------|--------------------|--------|---------|-------------|--------|--|------------|------------|--------|--|---|------------|--------|--|--|--|--|--|--|--|--|--|--|
|                | Interest Income |              | Net Interest Income |              | Net Income |              | Earnings Per Share |        |         |
|                |                 |              |                     |              |            |              | Basic              |        | Diluted |
| 2019           |                 |              |                     |              |            |              |                    |        |         |
| First Quarter  | $               | 30,464  |                |              | $          | 25,537  |               |        | $       | 9,737  |   |  | $          | 1.29  |   |  | $ | 1.28  |   |
| Second Quarter | 31,121     |         |                     | 25,630  |       |              | 9,201         |   |         | 1.22   |   |  | 1.21  |       |
| Third Quarter  | 31,400     |         |                     | 25,876  |       |              | 8,777         |   |         | 1.17   |   |  | 1.15  |       |
| Fourth Quarter | 31,424     |         |                     | 26,267  |       |              | 8,685         |   |         | 1.15   |   |  | 1.14  |       |

|                |                 |              |                     |              |            |              |                    |        |         |             |        |  |            |            |        |  |   |            |        |  |  |  |  |  |  |  |  |  |  |
|----------------|-----------------|--------------|---------------------|--------------|------------|--------------|--------------------|--------|---------|-------------|--------|--|------------|------------|--------|--|---|------------|--------|--|--|--|--|--|--|--|--|--|--|
|                | Interest Income |              | Net Interest Income |              | Net Income |              | Earnings Per Share |        |         |
|                |                 |              |                     |              |            |              | Basic              |        | Diluted |
| 2018           |                 |              |                     |              |            |              |                    |        |         |
| First Quarter  | $               | 26,171  |                |              | $          | 23,473  |               |        | $       | 7,195  |   |  | $          | 0.97  |   |  | $ | 0.95  |   |
| Second Quarter | 27,193     |         |                     | 24,236  |       |              | 8,184         |   |         | 1.09   |   |  | 1.08  |       |
| Third Quarter  | 28,541     |         |                     | 25,237  |       |              | 9,331         |   |         | 1.24   |   |  | 1.23  |       |
| Fourth Quarter | 29,346     |         |                     | 25,763  |       |              | (12,297)           |   |         | (1.64)      |   |  | (1.62)     |       |

----

|                |  |         |                                       |  |  |  |  |  |  |  |  |
|----------------|--|---------|---------------------------------------|--|--|--|--|--|--|--|--|
| March 17, 2020 |  | By: | /s/ William A. Ray            |
|                |  |         | William A. Ray                        |
|                |  |         | President and Chief Executive Officer |

|                                |  |                                                                   |  |                |  |  |  |  |  |  |  |  |  |  |
|--------------------------------|--|-------------------------------------------------------------------|--|----------------|--|--|--|--|--|--|--|--|--|--|
| Signature                      |  | Title                                                             |  | Date           |
| /s/ William A. Ray     |  | President, Chief Executive Officer, and Director                  |  | March 17, 2020 |
| William A. Ray                 |  | (Principal Executive Officer)                                     |  |                |
|                                |  |                                                                   |  |                |
| /s/ M. Ann Southerland |  | Executive Vice President and Chief Financial Officer              |  | March 17, 2020 |
| M. Ann Southerland             |  | (Principal Financial Officer)                                     |  |                |
|                                |  |                                                                   |  |                |
| /s/ Karlen Turbeville  |  | Senior Vice President and Controller                              |  | March 17, 2020 |
| Karlen Turbeville              |  | (Principal Accounting Officer)                                    |  |                |
|                                |  |                                                                   |  |                |
| /s/ Max S. Yates       |  | Senior Executive Vice President, Chief Risk Officer, and Director |  | March 17, 2020 |
| Max S. Yates                   |  |                                                                   |  |                |
|                                |  |                                                                   |  |                |
|                                |  |                                                                   |  |                |

----

|                                  |  |          |  |                |  |  |  |  |  |  |  |  |  |  |
|----------------------------------|--|----------|--|----------------|--|--|--|--|--|--|--|--|--|--|
|                                  |  |          |  |                |
|                                  |  |          |  |                |
|                                  |  |          |  |                |
| /s/ Kennith W. Helton    |  | Director |  | March 17, 2020 |
| Kennith W. Helton                |  |          |  |                |
|                                  |  |          |  |                |
| /s/ Randall E. Howard    |  | Director |  | March 17, 2020 |
| Randall E. Howard                |  |          |  |                |
|                                  |  |          |  |                |
| /s/ B. Bryan Jones III   |  | Director |  | March 17, 2020 |
| B. Bryan Jones III               |  |          |  |                |
|                                  |  |          |  |                |
| /s/ R. Eason Leake       |  | Director |  | March 17, 2020 |
| R. Eason Leake                   |  |          |  |                |
|                                  |  |          |  |                |
| /s/ Carl R. Montgomery   |  | Director |  | March 17, 2020 |
| Carl R. Montgomery               |  |          |  |                |
|                                  |  |          |  |                |
| /s/ R. Hal Parker        |  | Director |  | March 17, 2020 |
| R. Hal Parker                    |  |          |  |                |
|                                  |  |          |  |                |
| /s/ John F. Phillips III |  | Director |  | March 17, 2020 |
| John F. Phillips III             |  |          |  |                |

----

|             |  |                                                                                                                                                                                |  |  |  |  |  |  |
|-------------|--|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--|--|--|--|--|--|
| Exhibit No. |  | Description                                                                                                                                                                    |
| 31.1        |  | Certification by Chief Executive Officer pursuant to Rule 13a-14(a) and Rule 15d-14(a).                                                                                        |
| 31.2        |  | Certification by Chief Financial Officer pursuant to Rule 13a-14(a) and Rule 15d-14(a).                                                                                        |
| 32.1        |  | Certification by Chief Executive Officer and Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. |