# EDGAR Filing Document

**Accession Number:** 0001419536
**File Stem:** 0001419536-25-000077
**Filing Date:** 2025-7
**Character Count:** 134273
**Document Hash:** bce023081b5db3bb2259ceadfa2813b6
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001419536-25-000077.hdr.sgml**: 20250728

**ACCESSION NUMBER**: 0001419536-25-000077

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 36

**CONFORMED PERIOD OF REPORT**: 20250728

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Other Events

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250728

**DATE AS OF CHANGE**: 20250728

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Capital Bancorp Inc
- **CENTRAL INDEX KEY:** 0001419536
- **STANDARD INDUSTRIAL CLASSIFICATION:** NATIONAL COMMERCIAL BANKS [6021]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 522083046
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-38671
- **FILM NUMBER:** 251155479

**BUSINESS ADDRESS:**
- **STREET 1:** One Church Street
- **STREET 2:** Suite 300
- **CITY:** Rockville
- **STATE:** MD
- **ZIP:** 20850
- **BUSINESS PHONE:** (301) 868-8848

**MAIL ADDRESS:**
- **STREET 1:** One Church Street
- **STREET 2:** Suite 300
- **CITY:** Rockville
- **STATE:** MD
- **ZIP:** 20850

?xml version='1.0' encoding='ASCII'? cbnk-20250728

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

**PURSUANT TO SECTION 13 OR 15(d) OF THE** 

**SECURITIES EXCHANGE ACT OF 1934**

Date of Report (Date of earliest event reported): July 28, 2025

**<u>CAPITAL BANCORP, INC.</u>**

(Exact name of registrant as specified in its charter)

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| | | |
|:---|:---|:---|
| &nbsp;&nbsp;<u>Maryland</u> | &nbsp;&nbsp;<u>001-38671</u> | &nbsp;&nbsp;<u>52-2083046</u> |
| &nbsp;&nbsp;(State or other jurisdiction of incorporation or organization) | &nbsp;&nbsp;(Commission file number) | &nbsp;&nbsp;(IRS Employer Identification No.) |

---

<u>2275 Research Boulevard, Suite 600, Rockville, Maryland 20850</u> 

(Address of principal executive offices) (Zip Code)

<u>(301) 468-8848</u> 

Registrant's telephone number, including area code

<u>Not Applicable</u>

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions:

☐&nbsp;&nbsp;&nbsp;&nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐&nbsp;&nbsp;&nbsp;&nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐&nbsp;&nbsp;&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐&nbsp;&nbsp;&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| Title of Each Class | Trading Symbol | Name of Each Exchange on Which Registered |
| Common Stock, par value $0.01 per share | CBNK | NASDAQ Stock Market |

---

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**Item 2.02 Results of Operations and Financial Disclosure**

On July 28, 2025, Capital Bancorp, Inc. (the "Company") issued a press release announcing the Company's unaudited financial results for the three and six months ended June 30, 2025. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and hereby incorporated by reference. A presentation regarding the Company's financial results for the three and six months ended June 30, 2025 is furnished as Exhibit 99.2 and incorporated herein by reference.

The information furnished under Item 2.02 and Item 9.01 of this Current Report on Form 8-K, including Exhibit 99.1 and Exhibit 99.2 to this Current Report on Form 8-K, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to liabilities under that Section, nor shall it be deemed incorporated by reference in any registration statement or other filings of the Company under the Securities Act of 1933, as amended, except as shall be set forth by specific reference in such filing.

**Item 8.01. Other Events**

On July 25, 2025, the Company's Board of Directors declared a $0.12 per share dividend, a 20% increase from the prior quarterly dividend. The dividend is payable on August 27, 2025 to stockholders of record on August 11, 2025.

**Item 9.01. Financial Statements and Exhibits**

**(d) Exhibits**

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| | |
|:---|:---|
| 99.1 | <u>[Press Release, dated July 28, 2025.](earningsrelease6302025.htm)</u> |
| 99.2 | <u>[Investor Presentation June 2025.](investoroverview06302025.htm)</u> |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

---

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**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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| | |
|:---|:---|
| | **CAPITAL BANCORP, INC.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;** |
| Date: July 28, 2025 | By: <u>/s/ Dominic C. Canuso</u> |
|  | Name: Dominic C. Canuso |
|  | Title: Chief Financial Officer |

---

## Exhibit 99.1

![capitalbancorplogoa21.jpg](capitalbancorplogoa21.jpg)

**CBNK Reports 2Q ROA of 1.60% and EPS of $0.78**

**Growth across Loans, Deposits, and Cards accompanied** 

**by Improving Credit Delivers Strong Profitability**

**<u>Second Quarter 2025 Highlights</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• GAAP Net Income of $13.1 million, or $0.78 per share, and return on average assets ("ROA") of 1.60%

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ Core net income<sup>(1)</sup> of $14.2 million, or $0.85 per share, and core ROA<sup>(1)</sup> of 1.73%

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Book value per common share of $22.92 at June 30, 2025, increased $0.73 compared to 1Q 2025, and increased $3.66 when compared to 2Q 2024

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ Tangible book value per share<sup>(1)</sup> of $20.64, increased 4.2% (not annualized), or $0.83 as compared to 1Q 2025, and increased 7.2%, or $1.38 compared to 2Q 2024

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Return on average equity ("ROE") of 14.17%, and return on average tangible common equity ("ROTCE")<sup>(1)</sup> of 16.10%

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ Core ROE<sup>(1)</sup> of 15.33%, and core ROTCE<sup>(1)</sup> of 17.39%

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Gross Loans<sup>(2)</sup> grew $61.4 million, or 9.2% (annualized), during 2Q 2025, and growth of $718.2 million year-over-year including $344.7 million from organic growth and $373.5 million from the IFH acquisition

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Total deposits grew $49.4 million, or 6.9% (annualized), from 1Q 2025. Year-over-year growth of $840.3 million includes $381.3 million from organic growth, and $459.0 million from the acquisition of IFH, or 44.2% from 2Q 2024

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ Customer Deposit<sup>3</sup> growth of $87.1 million, or 13.5% (annualized) from 1Q 2025, and $725.3 million year-over-year, or 37.3% from 2Q 2024, including $431.8 million of organic growth, and $293.5 million from the acquisition of IFH

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Net Interest Income increased $1.6 million, or 3.5% (not annualized), from 1Q 2025 due to strong balance sheet growth from the Commercial Bank , and increased $10.6 million, or 28.6%, year-over-year, primarily driven by strong organic growth and the acquisition of IFH

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Net Interest Margin ("NIM") of 6.04% decreased 1 bps compared to 1Q 2025 and decreased 42 bps compared to 2Q 2024 due to the acquisition of commercial loans from IFH, diluting the impact from OpenSky<sup>™</sup>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ Commercial Bank NIM<sup>(1)</sup> of 4.36% increased by 4 bps, or 7 bps when excluding purchase accounting accretion ("PAA"), when compared to 1Q 2025, and 46 bps,or 30 bps excluding PAA, compared to 2Q 2024

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ 2Q 2025 net PAA of $1.3 million, or 16 bps of NIM and Commercial Bank NIM<sup>(1)</sup>, decreased $0.2 million, or 3 bps, compared to 1Q 2025

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The allowance for credit losses to total loans ("ACL Coverage Ratio") equaled 1.73% at June 30, 2025 down 8 bps from March 31, 2025 and up 20 bps from June 30, 2024, primarily due to the acquisition of IFH loans. The Commercial Bank ACL Coverage Ratio<sup>(1)</sup> equaled 1.56% at June 30, 2025, compared to 1.67% at March 31, 2025

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Fee Revenue (noninterest income) totaled $13.1 million, or 21.6% of total revenue for 2Q 2025, an increase of $0.6 million, from 1Q 2025 and an increase of $6.2 million, from 2Q 2024

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Cash Dividend of $0.12 per share declared by the Board of Directors, an increase of 20% from 1Q 2025

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Shares repurchased and retired during the three months ended June 30, 2025, as part of the Company's stock repurchase program, totaled 93,170 shares at an average price of $26.66, for a total cost of $2.5 million including commissions

<sup>(1)</sup> As used in this press release, core net income, core ROA, core ROE, ROTCE, core ROTCE, Commercial Bank NIM, Commercial Bank ACL Coverage Ratio, and Tangible Book Value are non–U.S. generally accepted accounting principles ("GAAP") financial measures. These non-GAAP financial metrics exclude merger-related expenses and other certain one-time non-recurring pre-tax adjustments and tax impacts of such adjustments. Reconciliations of these and other non–GAAP measures to their comparable GAAP measures are set forth in the Appendix at the end of this press release.

<sup>(2)</sup> Gross loans represent portfolio loans receivable, net of deferred fees and costs

<sup>(3)</sup> Customer Deposits represents total deposits excluding brokered deposits

------

Rockville, Maryland, July 28, 2025 (GLOBE NEWSWIRE) – Capital Bancorp, Inc. (the "Company") (NASDAQ: CBNK), the holding company for Capital Bank, N.A. (the "Bank"), today reported net income of $13.1 million, or $0.78 per diluted share, for 2Q 2025, compared to net income of $13.9 million, or $0.82 per diluted share, for 1Q 2025, and $8.2 million, or $0.59 per diluted share, for 2Q 2024. Core net income<sup>(1)</sup> for 2Q 2025 of $14.2 million, or $0.85 per diluted share, compared to $14.9 million, or $0.88 per diluted share in 1Q 2025.

The Company also declared a cash dividend on its common stock of $0.12 per share, a 20% increase from the prior quarterly dividend. The dividend is payable on August 27, 2025 to shareholders of record on August 11, 2025.

"We are pleased with the significant progress we are making on our Strategic Plan, demonstrated by our record results for the first half of 2025" said Ed Barry, CEO of the Company and the Bank. "Our teams continue to unlock the value of our acquisition of IFH, grow the franchise, and strengthen our diversified business model."

"Although earnings did not advance quarter over quarter, our continued focus on growing commercial and industrial loans, our success at building core deposits, and our strong net interest margin have the Commercial Bank well-positioned for profitable growth," said Steven J. Schwartz, Chairman of the Company. "As the integration of the IFH transaction progresses, we are pleased that we have been able to maintain our fee revenue above 20% of total revenue. And, in the absence of any unexpected headwinds, which do not appear to be materializing at present, our multiple growth levers provide the means to achieve robust EPS and TBV growth. This marks the 4th consecutive year that we have increased our dividend payout. Our consistent dividend payments and continued stock buybacks evidence our sustained commitment to reward our shareholders."

**<u>Reconciliation of GAAP Net Income to Core (Non-GAAP) Net Income</u>**

The following table provides a reconciliation of the Company's net income under GAAP to Core net income (non-GAAP) results excluding merger-related expenses and other one-time non-recurring transactions.

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Second Quarter 2025** | **Second Quarter 2025** | **Second Quarter 2025** | **Second Quarter 2025** | **First Quarter 2025** | **First Quarter 2025** | **First Quarter 2025** | **First Quarter 2025** |
| (in thousands, except per share data) | **Income Before Income Taxes** | **Income Tax Expense** | **Net Income** | **Diluted Earnings per Share** | **Income Before Income Taxes** | **Income Tax Expense** | **Net Income** | **Diluted Earnings per Share** |
| **GAAP Net Income** | $17099 | $3963 | $13136 | $0.78 | $18297 | $4365 | $13932 | $0.82 |
| Add: Merger-Related Expenses | 1398 | 328 | 1070 |  | 1266 | 302 | 964 |  |
| **Core Net Income**<sup>(1)</sup> | $18497 | $4291 | $14206 | $0.85 | $19563 | $4667 | $14896 | $0.88 |

---

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| | | | | |
|:---|:---|:---|:---|:---|
| | **Six Months Ended June 30, 2025** | **Six Months Ended June 30, 2025** | **Six Months Ended June 30, 2025** | **Six Months Ended June 30, 2025** |
| (in thousands except per share data) | **Income Before Income Taxes** | **Income Tax Expense** | **Net Income** | **Diluted Earnings per Share** |
| **GAAP Earnings** | $35396 | $8328 | $27068 | $1.60 |
| Add: Merger-Related Expenses | 2664 | 630 | 2034 |  |
| **Core Net Income**<sup>(1)</sup> | $38060 | $8958 | $29102 | $1.72 |

---

Note: The income tax expense reflects the non-deductibility of certain merger-related expenses.

<sup>1</sup> As used in this press release, core net income is a non-GAAP financial measure. This non-GAAP financial metric excludes merger-related expenses and other certain one-time non-recurring pre-tax adjustments and tax impacts of such adjustments. Reconciliations of this and other non–GAAP measures to their comparable GAAP measures are set forth in the Appendix at the end of this press release.

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**<u>Second Quarter 2025 Results</u>**

**<u>Earnings Summary</u>**

Net income of $13.1 million, or $0.78 per diluted share, compared to net income of $13.9 million, or $0.82 per diluted share, for 1Q 2025, and $8.2 million or $0.59 per diluted share, for 2Q 2024. 2Q 2025 core net income<sup>(1)</sup> of $14.2 million, or $0.85 per diluted share, compared to 1Q 2025 of $14.9 million, or $0.88 per diluted share.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Net interest income of $47.6 million increased $1.6 million, or 3.5% (not annualized), compared to 1Q 2025, and increased $10.6 million, or 28.6%, year-over-year.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ Interest income of $64.6 million increased $1.8 million, or 2.9% (not annualized), over 1Q 2025, and increased $14.0 million, or 27.6%, year-over-year. The increase quarter-over-quarter was driven by an increase from Commercial Bank loan interest income due to portfolio growth, while the increase year-over-year was primarily driven by organic growth and the acquisition of IFH.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ Interest income included $0.4 million from net purchase accounting accretion in 2Q 2025, flat compared to 1Q 2025. There was no impact related to purchase accounting during 2Q 2024.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ Interest expense of $16.9 million increased $0.2 million, or 1.4% (not annualized) compared to 1Q 2025, and increased $3.4 million, or 24.9%, year-over-year. The increase quarter-over-quarter was mainly due to a lower benefit from net purchase accounting accretion, as higher deposit volumes were offset by lower deposit rates. The increase year-over-year was driven by organic growth and the acquisition of IFH.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ Interest expense included a $0.9 million benefit from net purchase accounting accretion in 2Q 2025 compared to a $1.1 million benefit in 1Q 2025. There was no impact related to purchase accounting during 2Q 2024.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The 2Q 2025 provision for credit losses was $4.1 million, an increase of $1.8 million from 1Q 2025. The increase over the prior quarter was primarily driven by $1.1 million from OpenSky<sup>™</sup> due to higher volumes in both the secured and unsecured portfolio, and $0.7 million from the Commercial Bank due to higher charge-offs not previously provided for. Net charge-offs totaled $5.1 million, or 0.75% of portfolio loans (annualized), including $3.0 million from the Commercial Bank and $2.1 million from OpenSky<sup>™</sup> loans. The Commercial Bank charge-offs were driven by $2.1 million from balances charged off from the acquired IFH portfolio, including a loan sale resulting in a charge-off of $1.5 million. Net charge-offs for 1Q 2025 totaled $2.4 million, or 0.38% of portfolio loans (annualized), mainly driven by $2.3 million from OpenSky<sup>™</sup> loans.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ At June 30, 2025, the ACL Coverage Ratio was 1.73%, down 8 bps from the ratio of 1.81% at March 31, 2025, primarily due to the sale during the quarter of a purchase credit deteriorated ("PCD") loan acquired from IFH .

<sup>1</sup> As used in this press release, core net income is a non-GAAP financial measure. This non-GAAP financial metric excludes merger-related expenses and other certain one-time non-recurring pre-tax adjustments and tax impacts of such adjustments. Reconciliations of this and other non–GAAP measures to their comparable GAAP measures are set forth in the Appendix at the end of this press release.

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**<u>Earnings Summary (Continued)</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Fee Revenue of $13.1 million increased $0.6 million, compared to 1Q 2025 and increased $6.2 million year-over-year primarily due to the contributions made by the businesses IFH brought to the merged entity. During 2Q 2025, core fee revenue<sup>(1)</sup> of $13.1 million increased $0.6 million as a result of $2.0 million higher government lending revenue (net gain on sale), $0.6 million higher credit card fees from OpenSky<sup>™</sup>, and $0.1 million higher government loan servicing revenue (Windsor Advantage<sup>™</sup>), offset by a $1.1 million negative impact from the fair value adjustment related to the loan servicing portfolio, and $1.0 million lower other income. Core fee revenue mix was 21.6% of total revenue for 2Q 2025, compared to 21.4% during 1Q 2025, and 15.7% during 2Q 2024.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Noninterest expense of $39.6 million increased $1.5 million compared to 1Q 2025 and $10.1 million compared to 2Q 2024. Core noninterest expense<sup>(1)</sup> of $38.2 million increased $1.4 million compared to 1Q 2025 and $8.8 million compared to 2Q 2024. Core comparisons include:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ The increase of $1.4 million quarter-over-quarter was driven by an increase from personnel expenses, growth from business related activities including costs associated with servicing the USDA portfolio, and continued investments in technology including the implementation of a new digital banking solution.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ Year-over-year expense growth of $8.8 million was primarily due to the acquisition of IFH.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Income tax expense of $4.0 million, or 23.2% of pre-tax income for 2Q 2025, decreased $0.4 million from $4.4 million, or 23.9% of pre-tax income for 1Q 2025. The core effective income tax rate<sup>(1)</sup> for 2Q 2025 and 1Q 2025 would have been 23.2% and 23.7%, respectively.

<sup>1</sup> As used in this press release, core fee revenue, core noninterest expense, and core effective income tax rate are non-GAAP financial measures. These non-GAAP financial metrics exclude merger-related expenses and other certain one-time non-recurring pre-tax adjustments and tax impacts of such adjustments. Reconciliations of these and other non–GAAP measures to their comparable GAAP measures are set forth in the Appendix at the end of this press release.

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**<u>Balance Sheet</u>**

Total assets of $3.4 billion at June 30, 2025 increased $38.9 million, or 4.7% (annualized), from March 31, 2025. Total assets growth year-over-year of $1.0 billion, or 39.0%, included $559.4 million acquired with the IFH acquisition, net of purchase accounting, and $440.6 million of organic growth.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The $38.9 million growth in total assets quarter-over-quarter is primarily driven by Gross Loan growth of $61.4 million, Investment portfolio growth of $15.5 million, partially offset by decreases in total Cash of $19.4 million and Loans Held for Sale of $13.7 million.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Gross Loans of $2.74 billion at June 30, 2025 increased $61.4 million, or 9.2% (annualized), from March 31, 2025 and increased $718.2 million year-over-year including $373.5 million from the acquisition of IFH and $344.7 million of organic growth.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ Compared to March 31, 2025, the growth of $61.4 million was primarily driven by $26.7 million from commercial real estate, $17.1 million from residential real estate, $12.3 million from OpenSky<sup>™</sup>, and $9.3 million from lender finance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ Commercial and industrial loans, plus owner-occupied commercial real estate loans totaled 37.6% of total portfolio loans at June 30, 2025, consistent with the prior quarter, and 28.4% at June 30, 2024.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Total deposits of $2.94 billion at June 30, 2025 increased $49.4 million, or 6.9% (annualized), from March 31, 2025, and increased $840.3 million, or 40.0% (annualized) from June 30, 2024. The increase quarter-over-quarter includes $47.8 million of growth in customer money market deposits, $24.8 million of noninterest-bearing deposits, and $23.0 million from interest-bearing demand accounts, partially offset by a decrease in brokered time deposits of $37.7 million and $8.6 million of customer time deposits. The increase of $840.3 million year-over-year is driven by $459.0 million from the acquisition of IFH and $381.3 million from organic growth.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ Insured and protected<sup>1</sup> deposits were approximately $2.1 billion as of June 30, 2025 representing 69.9% of the Company's deposit portfolio.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ Low-and-no interest-bearing DDA deposits of $1.2 billion, or 39.8% of deposits, increased $47.8 million, or 17.1% (annualized) from 1Q 2025, and increased $214.4 million, or 22.4% year-over-year, including $122.9 million of organic growth, and $91.5 million from the acquisition of IFH.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ The average rate on the low-and-no interest-bearing deposits was 0.14% for 2Q 2025, a decrease of 1 bps from 1Q 2025 and an increase of 8 bps year-over-year.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The average portfolio loans-to-deposit ratio was 96.2% for 2Q 2025, compared to 95.2% for 1Q 2025, and 99.1% for 2Q 2024.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The investment securities portfolio continues to be classified as available-for-sale and had a fair market value of $228.9 million, or 6.8% of total assets, an effective duration of 2.7 years, with U.S. Treasury Securities representing 60% of the overall investment portfolio at June 30, 2025. The accumulated other comprehensive income (loss) on the investment securities portfolio improved $1.1 million during the quarter to negative $8.1 million after-tax as of June 30, 2025, which represents 2.1% of total stockholders' equity. The Company does not have a held-to-maturity investment securities portfolio.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• *Liquidity* **–** The Company maintains stable and reliable sources of available borrowings, generally consistent with prior quarter. Sources of available borrowings at June 30, 2025 totaled $834.8 million, compared to $820.9 from 1Q 2025. During 2Q 2025, available collateralized lines of credit totaled $750.6 million, unsecured lines of credit with other banks totaled $76.0 million and unpledged investment securities available as collateral for potential additional borrowings of $8.2 million.

<sup>1</sup> Protected deposits includes deposits that are indirectly protected under the product terms

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• *Capital Positions* **–** As of June 30, 2025, the Company reported a Common Equity Tier-1 capital ratio of 13.58%, compared to 13.24% at March 31, 2025. At June 30, 2025, the Company and the Bank maintained regulatory capital ratios that exceed all capital adequacy requirements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ Shares repurchased and retired during the three months ended June 30, 2025, as part of the Company's stock repurchase program, totaled 93,170 shares at an average price of $26.66, for a total cost of $2.5 million including commissions. There is $11.9 million remaining to be repurchased under the authorized and approved stock repurchase plan. The stock repurchase program will expire on February 28, 2026*.*

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**<u>Financial Metrics</u>**

**Net Interest Margin –** NIM of 6.04% for 2Q 2025, decreased 1 bps compared to the prior quarter, and decreased 42 bps year-over-year. Commercial Bank NIM<sup>(1)</sup>, of 4.36% increased 4 bps, compared to the prior quarter, and increased 46 bps year-over-year. Net purchase accounting accretion for 2Q 2025 was 16 bps for NIM and Commercial Bank NIM<sup>(1)</sup>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The average yield on interest earning assets of 8.19% decreased 5 bps compared to the prior quarter, due to minor changes in portfolio mix, and decreased 63 bps year-over-year primarily due to the acquisition of commercial loans diluting the positive impact from OpenSky<sup>™</sup>. The Commercial Bank Loan Yield<sup>(1)</sup> of 7.14% for 2Q 2025 was flat compared to 1Q 2025, and increased 10 bps year-over-year.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The total cost of deposits of 2.36% for 2Q 2025 decreased 6 bps compared to the prior quarter due to lower rates on most products and mix shift and decreased 25 bps year-over-year. The total cost of interest-bearing deposits decreased 8 bps quarter-over-quarter, and 57 bps year-over-year, to 3.29% for 2Q 2025 primarily due to changes in product mix.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Net purchase accounting accretion of $1.3 million during 2Q 2025, decreased $0.2 million from 1Q 2025. There was no impact from purchase accounting during 2Q 2024.

**Fee Revenue Mix –** The fee revenue mix was 21.6% of total revenue for 2Q 2025, compared to 21.4% during 1Q 2025, and 15.7% during 2Q 2024. The core fee revenue mix<sup>(1)</sup> was consistent with fee revenue mix for these periods.

**Credit Metrics and Asset Quality –** The ACL Coverage Ratio equaled 1.73% at June 30, 2025, a decrease of 8 bps from March 31, 2025, and an increase of 20 bps year-over-year driven by the acquisition of IFH.

Nonperforming assets decreased 17 bps to 1.11% of total assets at June 30, 2025 compared to March 31, 2025, primarily due to the sale of a PCD loan acquired from IFH during the quarter, and increased 53 bps year-over-year. Total nonaccrual loans at June 30, 2025 decreased $5.4 million to $37.5 million compared to March 31, 2025, and increased $23.5 million year-over-year, mainly due to the acquisition of IFH. At June 30, 2025, special mention loans totaled $54.2 million, or 2.0% of total portfolio loans, compared to $63.0 million, or 2.4% of total portfolio loans, at March 31, 2025, and $23.3 million, or 1.2% of total portfolio loans, at June 30, 2024. At June 30, 2025, substandard loans totaled $44.6 million, or 1.7% of total portfolio loans, compared to $48.4 million, or 1.8% of total portfolio loans, at March 31, 2025 and $22.1 million, or 1.2% of total portfolio loans, at June 30, 2024.

**Efficiency Ratios –** The efficiency ratio was 65.1% for 2Q 2025, compared to 64.9% for 1Q 2025 and 67.1% for 2Q 2024. The core efficiency ratio<sup>(1)</sup> was 62.8%, for 2Q 2025, which was flat compared to the prior quarter, and 66.9% for 2Q 2024.

<sup>1</sup> As used in this press release, Commercial Bank NIM, Commercial Bank Loan Yield, core fee revenue mix and core efficiency ratio are non-GAAP financial measures. These non-GAAP financial metrics exclude merger-related expenses and other certain one-time non-recurring pre-tax adjustments and tax impacts of such adjustments. Reconciliations of these and other non–GAAP measures to their comparable GAAP measures are set forth in the Appendix at the end of this press release.

------

**<u>Financial Metrics (Continued)</u>**

**Performance Ratios –** ROA was 1.60% for 2Q 2025, compared to 1.75% for 1Q 2025, and 1.40% for 2Q 2024. As of June 30, 2024, the Company did not have goodwill or other intangible assets. Core ROA<sup>(1)</sup> for 2Q 2025 was 1.73%, compared to 1.87% for 1Q 2025, and 1.41% for 2Q 2024.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ROE was 14.17% for 2Q 2025, compared to 15.56% for 1Q 2025, and 12.53% for 2Q 2024. As of June 30, 2024, the Company did not have goodwill or other intangible assets. Core ROE<sup>(1)</sup> was 15.33% for 2Q 2025, compared to 16.64% for 1Q 2025, and 12.62% for 2Q 2024.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**•** ROTCE was 16.10% for 2Q 2025, compared to 17.57% for 1Q 2025, and 12.53% for 2Q 2024. As of June 30, 2024, the Company did not have goodwill or other intangible assets. Core ROTCE<sup>(1)</sup> for 2Q 2025 was 17.39%, compared to 18.77% for 1Q 2025, and 12.62% for 2Q 2024.

**Book Value and Tangible Book Value –** Book value per common share of $22.92 at June 30, 2025, increased $0.73 when compared to March 31, 2025, and increased $3.66 when compared to June 30, 2024. Tangible book value per common share<sup>(1)</sup> increased $0.83, or 4.2%, to $20.64 at June 30, 2025 when compared to March 31, 2025, and increased $1.39, or 7.2%, when compared to June 30, 2024. Tangible book value was impacted by the purchase accounting adjustments required as part of the IFH acquisition. Tangible book value per share<sup>(1)</sup> was equal to book value per share for periods prior to 4Q 2024.

<sup>1</sup> As used in this press release, core ROA, core ROE, ROTCE, core ROTCE, and Tangible Book Value are non-GAAP financial measures. These non-GAAP financial metrics exclude merger-related expenses and other certain one-time non-recurring pre-tax adjustments and tax impacts of such adjustments. Reconciliations of these and other non–GAAP measures to their comparable GAAP measures are set forth in the Appendix at the end of this press release.

------

**<u>Commercial Bank</u>**

**Loan Growth –** Portfolio loans<sup>(1)</sup> increased $52.0 million at June 30, 2025 compared to March 31, 2025, driven by $10.9 million from CRE owner and non-owner occupied, $17.1 million from residential real estate, and $9.3 million from lender finance loans. Historical gross portfolio loan balances are disclosed in the *Composition of Loans* table within the *Historical Financial Highlights.*

**Net Interest Income –** Interest income of $49.9 million increased $1.8 million from the prior quarter, primarily driven by loan growth and slightly higher loan yields. Interest expense of $16.9 million increased $0.2 million, primarily due to lower benefit from purchase accounting adjustments in 2Q 2025.

**Credit Metrics –** Nonperforming assets, comprised solely of nonaccrual loans, decreased 17 bps to 1.11% of total assets at June 30, 2025 compared to March 31, 2025. Total nonaccrual loans at June 30, 2025 decreased to $37.5 million compared to $42.9 million at March 31, 2025.

**Classified and Criticized Loans –** At June 30, 2025, special mention loans totaled $54.2 million, or 2.0% of total portfolio loans, compared to $63.0 million, or 2.4% of total portfolio loans, at March 31, 2025. At June 30, 2025, substandard loans totaled $44.6 million, or 1.7% of total portfolio loans, compared to $45.7 million, or 1.7% of total portfolio loans, at March 31, 2025.

**<u>OpenSky</u>**<sup>™</sup>

**Accounts –** During 2Q 2025, credit card accounts of 585.4 thousand increased by 21.7 thousand, or 3.8% (not annualized) from March 31, 2025, and increased 47.6 thousand, or 8.9% year-over-year.

**Loan and Deposit Balances –** Secured and unsecured loan balances, net of reserves, of $131.0 million at June 30, 2025 increased by $12.3 million, or 10.4% (not annualized), compared to March 31, 2025. Deposit balances of $168.9 million for 2Q 2025 remained flat compared to 1Q 2025. Gross unsecured loan balances of $46.4 million at June 30, 2025 increased $7.4 million, or 18.9% (not annualized), compared to $39.0 million at March 31, 2025, and increased $12.8 million year-over-year. Gross secured loan balances of $86.4 million at June 30, 2025 increased $5.1 million, or 6.3% (not annualized), compared to $81.3 million at March 31, 2025, and decreased $4.6 million, or 5.0% (not annualized) year-over-year.

**Net Interest Income –** Interest income of $14.5 million was in-line with the prior quarter. Average OpenSky credit card loan balances, net of reserves and deferred fees of $121.4 million for 2Q 2025, increased $2.7 million, or 2.3% (not annualized), compared to 1Q 2025.

**Fee Revenue -** Total fee revenue of $4.3 million increased $0.6 million from the prior quarter primarily driven by interchange income due to higher volume and other credit-card related fees.

**Noninterest Expense –** Total noninterest expense of $13.1 million remained generally consistent with the prior quarter.

**OpenSky**<sup>™</sup> **Credit –** Portfolio credit metrics continued to be consistent with modeled expectations during 2Q 2025. The provision for credit losses of $2.9 million increased $1.1 million when compared to the prior quarter mainly due to growth in the secured and unsecured portfolio. OpenSky's unsecured loan product continues to be offered exclusively to current and former secured card customers to retain customers who have successfully improved their credit profiles. Unsecured loans have been offered by OpenSky since the fourth quarter of 2021 and have generally performed in accordance with management expectations over that time period.

<sup>(1)</sup> Portfolio loans represents portfolio loans receivable excluding deferred origination fees

------

**<u>Capital Bank Home Loans</u>**

Originations of loans held for sale totaled $80.3 million during 2Q 2025, with $59.7 million of mortgage loans sold resulting in a gain on sale of loans of $1.6 million, representing a 2.68% gain on sale as a percentage of total loans sold. Originations of loans held for sale totaled $65.8 million during 1Q 2025, with $54.1 million of mortgage loans sold resulting in a gain on sale of loans of $1.7 million, representing a 3.07% gain on sale as a percentage of total loans sold.

**<u>Windsor Advantage</u>**<sup>™</sup>

Gross government loan servicing revenue totaled $4.7 million, including $1.1 million of Capital Bank related servicing fees, during 2Q 2025. Gross government loan servicing revenue totaled $4.6 million, including $1.0 million of Capital Bank related servicing fees, during 1Q 2025. Windsor's<sup>™</sup> total servicing portfolio was $2.9 billion at June 30, 2025, and $2.7 billion at March 31, 2025.

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **<u>COMPARATIVE FINANCIAL HIGHLIGHTS - Unaudited</u>** | **<u>COMPARATIVE FINANCIAL HIGHLIGHTS - Unaudited</u>** | **<u>COMPARATIVE FINANCIAL HIGHLIGHTS - Unaudited</u>** | **<u>COMPARATIVE FINANCIAL HIGHLIGHTS - Unaudited</u>** | **<u>COMPARATIVE FINANCIAL HIGHLIGHTS - Unaudited</u>** | | | |
| | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **2Q25 vs 1Q25** | **2Q25 vs 1Q25** | **2Q25 vs 2Q24** | **2Q25 vs 2Q24** |
| (in thousands, except per share data) | **June 30, 2025** | **March 31, 2025** | **June 30, 2024** | **$ Change** | **% Change** | **$ Change** | **% Change** |
| **Earnings Summary** |  |  |  |  |  |  |  |
| Interest income | $64586 | $62760 | $50615 | $1826 | 2.9% | $13971 | 27.6% |
| Interest expense | 16940 | 16713 | 13558 | 227 | 1.4% | 3382 | 24.9% |
| &nbsp;&nbsp;&nbsp;Net interest income | 47646 | 46047 | 37057 | 1599 | 3.5% | 10589 | 28.6% |
| Provision for credit losses | 4081 | 2246 | 3417 | 1835 | 81.7% | 664 | 19.4% |
| Provision for credit losses on unfunded commitments |  |  | 104 |  | —% | (104) | (100.0)% |
| Noninterest income | 13106 | 12549 | 6890 | 557 | 4.4% | 6216 | 90.2% |
| Noninterest expense | 39572 | 38053 | 29493 | 1519 | 4.0% | 10079 | 34.2% |
| &nbsp;&nbsp;&nbsp;Income before income taxes | 17099 | 18297 | 10933 | (1198) | (6.5)% | 6166 | 56.4% |
| Income tax expense | 3963 | 4365 | 2728 | (402) | (9.2)% | 1235 | 45.3% |
| &nbsp;&nbsp;&nbsp;Net income | $13136 | $13932 | $8205 | $(796) | (5.7)% | $4931 | 60.1% |
| Pre-tax pre-provision net revenue ("PPNR") <sup>(1)</sup> | $21180 | $20543 | $14454 | $637 | 3.1% | $6726 | 46.5% |
| Core PPNR<sup>(1)</sup> | $22578 | $21809 | $14537 | $769 | 3.5% | $8041 | 55.3% |
| **Common Share Data** |  |  |  |  |  |  |  |
| Earnings per share - Basic | $0.79 | $0.84 | $0.59 | $(0.05) | (6.0)% | $0.20 | 33.9% |
| Earnings per share - Diluted | $0.78 | $0.82 | $0.59 | $(0.04) | (4.9)% | $0.19 | 32.2% |
| Core earnings per share - Diluted<sup>(1)</sup> | $0.85 | $0.88 | $0.59 | $(0.03) | (3.4)% | $0.26 | 44.1% |
| Weighted average common shares - Basic | 16584 | 16666 | 13895 |  |  |  |  |
| Weighted average common shares - Diluted | 16802 | 16925 | 13895 |  |  |  |  |
| **Return Ratios** |  |  |  |  |  |  |  |
| Return on average assets (annualized) | 1.60% | 1.75% | 1.40% |  |  |  |  |
| Core return on average assets (annualized)<sup>(1)</sup> | 1.73% | 1.87% | 1.41% |  |  |  |  |
| Return on average equity (annualized) | 14.17% | 15.56% | 12.53% |  |  |  |  |
| Core return on average equity (annualized)<sup>(1)</sup> | 15.33% | 16.64% | 12.62% |  |  |  |  |
| Return on average tangible common equity (annualized)<sup>(1)</sup> | 16.10% | 17.57% | 12.53% |  |  |  |  |
| Core return on average tangible common equity (annualized)<sup>(1)</sup> | 17.39% | 18.77% | 12.62% |  |  |  |  |

---

______________

<sup>(1)</sup> Refer to Appendix for reconciliation of non-GAAP measures.

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| | | | | |
|:---|:---|:---|:---|:---|
| **<u>COMPARATIVE FINANCIAL HIGHLIGHTS - Unaudited (Continued)</u>** | **<u>COMPARATIVE FINANCIAL HIGHLIGHTS - Unaudited (Continued)</u>** | **<u>COMPARATIVE FINANCIAL HIGHLIGHTS - Unaudited (Continued)</u>** | **<u>COMPARATIVE FINANCIAL HIGHLIGHTS - Unaudited (Continued)</u>** | |
| | **Six Months Ended** | **Six Months Ended** | | |
| | **June 30,** | **June 30,** | | |
| (in thousands, except per share data) | **2025** | **2024** | **$ Change** | **% Change** |
| **Earnings Summary** |  |  |  |  |
| Interest income | $127346 | $98984 | $28362 | 28.7% |
| Interest expense | 33653 | 26919 | 6734 | 25.0% |
| &nbsp;&nbsp;&nbsp;Net interest income | 93693 | 72065 | 21628 | 30.0% |
| Provision for credit losses | 6327 | 6144 | 183 | 3.0% |
| Provision for credit losses on unfunded commitments |  | 246 | (246) | (100.0)% |
| Noninterest income | 25655 | 12862 | 12793 | 99.5% |
| Noninterest expense | 77625 | 58980 | 18645 | 31.6% |
| &nbsp;&nbsp;&nbsp;Income before income taxes | 35396 | 19557 | 15839 | 81.0% |
| Income tax expense | 8328 | 4790 | 3538 | 73.9% |
| &nbsp;&nbsp;&nbsp;Net income | $27068 | $14767 | $12301 | 83.3% |
| Pre-tax pre-provision net revenue ("PPNR") <sup>(1)</sup> | $41723 | $25947 | $15776 | 60.8% |
| Core PPNR<sup>(1)</sup> | $44387 | $26742 | $17645 | 66.0% |
| **Common Share Data** |  |  |  |  |
| Earnings per share - Basic | $1.63 | $1.06 | $0.57 | 53.8% |
| Earnings per share - Diluted | $1.60 | $1.06 | $0.54 | 50.9% |
| Core earnings per share - Diluted<sup>(1)</sup> | $1.72 | $1.10 |  |  |
| Weighted average common shares - Basic | 16624 | 13907 |  |  |
| Weighted average common shares - Diluted | 16872 | 13907 |  |  |
| **Return Ratios** |  |  |  |  |
| Return on average assets (annualized) | 1.68% | 1.28% |  |  |
| Core return on average assets (annualized)<sup>(1)</sup> | 1.80% | 1.33% |  |  |
| Return on average equity (annualized) | 14.85% | 11.37% |  |  |
| Core return on average equity (annualized)<sup>(1)</sup> | 15.97% | 11.83% |  |  |
| Return on average tangible common equity (annualized)<sup>(1)</sup> | 16.82% | 11.37% |  |  |
| Core return on average tangible common equity (annualized)<sup>(1)</sup> | 18.07% | 11.83% |  |  |

---

______________

<sup>(1)</sup> Refer to Appendix for reconciliation of non-GAAP measures.

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **<u>COMPARATIVE FINANCIAL HIGHLIGHTS - Unaudited (Continued)</u>** | **<u>COMPARATIVE FINANCIAL HIGHLIGHTS - Unaudited (Continued)</u>** | **<u>COMPARATIVE FINANCIAL HIGHLIGHTS - Unaudited (Continued)</u>** | **<u>COMPARATIVE FINANCIAL HIGHLIGHTS - Unaudited (Continued)</u>** | **<u>COMPARATIVE FINANCIAL HIGHLIGHTS - Unaudited (Continued)</u>** | | |
| | **Quarter Ended** | **Quarter Ended** | | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** |
| | **June 30,** | **June 30,** | | **March 31,** | **December 31,** | **September 30,** |
| (in thousands, except per share data) | **2025** | **2024** | **% Change** | **2025** | **2024** | **2024** |
| **Balance Sheet Highlights** |  |  |  |  |  |  |
| Assets | $3388662 | $2438583 | 39.0% | $3349805 | $3206911 | $2560788 |
| Investment securities available-for-sale | 228923 | 207917 | 10.1% | 213452 | 223630 | 208700 |
| Mortgage loans held for sale | 20925 | 19219 | 8.9% | 34656 | 21270 | 19554 |
| Portfolio loans receivable <sup>(2)</sup> | 2739808 | 2021588 | 35.5% | 2678406 | 2630163 | 2107522 |
| Allowance for credit losses | 47447 | 30832 | 53.9% | 48454 | 48652 | 31925 |
| Deposits | 2940738 | 2100428 | 40.0% | 2891333 | 2761939 | 2186224 |
| FHLB borrowings | 22000 | 32000 | (31.3)% | 22000 | 22000 | 52000 |
| Other borrowed funds | 12062 | 12062 | —% | 12062 | 12062 | 12062 |
| Total stockholders' equity | 380035 | 267854 | 41.9% | 369577 | 355139 | 280111 |
| Tangible common equity <sup>(1)</sup> | 342262 | 267854 | 27.8% | 329936 | 318196 | 280111 |
| Common shares outstanding | 16582 | 13910 | 19.2% | 16657 | 16663 | 13918 |
| Book value per share | $22.92 | $19.26 | 19.0% | $22.19 | $21.31 | $20.13 |
| Tangible book value per share <sup>(1)</sup> | $20.64 | $19.26 | 7.2% | $19.81 | $19.10 | $20.13 |
| Dividends per share | $0.10 | $0.08 | 25.0% | $0.10 | $0.10 | $0.10 |

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______________

<sup>(1)</sup> Refer to Appendix for reconciliation of non-GAAP measures.

<sup>(2)</sup> Loans are reflected net of deferred fees and costs.

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **<u>Consolidated Statements of Income (Unaudited)</u>** | **<u>Consolidated Statements of Income (Unaudited)</u>** | **<u>Consolidated Statements of Income (Unaudited)</u>** | **<u>Consolidated Statements of Income (Unaudited)</u>** | **<u>Consolidated Statements of Income (Unaudited)</u>** | **<u>Consolidated Statements of Income (Unaudited)</u>** | | |
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Six Months Ended** | **Six Months Ended** |
| (in thousands) | **June 30, 2025** | March 31, 2025 | December 31, 2024 | September 30, 2024 | June 30, 2024 | **June 30, 2025** | June 30, 2024 |
| **Interest income** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Loans, including fees | $**60810** | $58691 | $58602 | $50047 | $48275 | $**119501** | $94266 |
| &nbsp;&nbsp;&nbsp;Investment securities available-for-sale | **1582** | 1861 | 1539 | 1343 | 1308 | **3443** | 2559 |
| &nbsp;&nbsp;&nbsp;Federal funds sold and other | **2194** | 2208 | 1566 | 1220 | 1032 | **4402** | 2159 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest income | **64586** | 62760 | 61707 | 52610 | 50615 | **127346** | 98984 |
| **Interest expense** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Deposits | **16722** | 16512 | 16385 | 13902 | 13050 | **33234** | 25883 |
| &nbsp;&nbsp;&nbsp;Borrowed funds | **218** | 201 | 995 | 354 | 508 | **419** | 1036 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest expense | **16940** | 16713 | 17380 | 14256 | 13558 | **33653** | 26919 |
| **Net interest income** | **47646** | 46047 | 44327 | 38354 | 37057 | **93693** | 72065 |
| &nbsp;&nbsp;&nbsp;Provision for credit losses | **4081** | 2246 | 7828 | 3748 | 3417 | **6327** | 6144 |
| &nbsp;&nbsp;&nbsp;Provision for credit losses on unfunded commitments | **—** |  | 122 | 17 | 104 | **—** | 246 |
| **Net interest income after provision for credit losses** | **43565** | 43801 | 36377 | 34589 | 33536 | **87366** | 65675 |
| **Noninterest income** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Service charges on deposits | **262** | 258 | 241 | 235 | 200 | **520** | 407 |
| &nbsp;&nbsp;&nbsp;Credit card fees | **4298** | 3722 | 3733 | 4055 | 4330 | **8020** | 8211 |
| &nbsp;&nbsp;&nbsp;Mortgage banking revenue | **1754** | 1831 | 1821 | 1882 | 1990 | **3585** | 3443 |
| &nbsp;&nbsp;&nbsp;Government lending revenue | **3112** | 1096 | 2301 |  |  | **4208** |  |
| &nbsp;&nbsp;&nbsp;Government loan servicing revenue | **3644** | 3568 | 3993 |  |  | **7212** |  |
| &nbsp;&nbsp;&nbsp;Loan servicing rights (government guaranteed) | **(590)** | 472 | 1013 |  |  | **(118)** |  |
| &nbsp;&nbsp;&nbsp;Non-recurring equity and debt investment write-down | **—** |  | (2620) |  |  | **—** |  |
| &nbsp;&nbsp;&nbsp;Other income | **626** | 1602 | 1431 | 463 | 370 | **2228** | 801 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total noninterest income | **13106** | 12549 | 11913 | 6635 | 6890 | **25655** | 12862 |
| **Noninterest expenses** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Salaries and employee benefits | **18460** | 18067 | 16513 | 13345 | 13272 | **36527** | 26179 |
| &nbsp;&nbsp;&nbsp;Occupancy and equipment | **2995** | 2910 | 2976 | 1791 | 1864 | **5905** | 3477 |
| &nbsp;&nbsp;&nbsp;Professional fees | **2422** | 2112 | 2150 | 1980 | 1769 | **4534** | 3716 |
| &nbsp;&nbsp;&nbsp;Data processing | **7520** | 7112 | 7210 | 6930 | 6788 | **14632** | 13549 |
| &nbsp;&nbsp;&nbsp;Advertising | **1371** | 1779 | 1032 | 1223 | 2072 | **3150** | 4104 |
| &nbsp;&nbsp;&nbsp;Loan processing | **979** | 743 | 969 | 615 | 476 | **1722** | 847 |
| &nbsp;&nbsp;&nbsp;Foreclosed real estate expenses, net | **—** | 1 |  | 1 |  | **1** | 1 |
| &nbsp;&nbsp;&nbsp;Merger-related expenses | **1398** | 1266 | 2615 | 520 | 83 | **2664** | 795 |
| &nbsp;&nbsp;&nbsp;Operational losses | **933** | 903 | 993 | 1008 | 782 | **1836** | 1713 |
| &nbsp;&nbsp;&nbsp;Regulatory assessment expenses | **884** | 889 | 554 | 483 | 427 | **1773** | 900 |
| &nbsp;&nbsp;&nbsp;Other operating | **2610** | 2271 | 2502 | 1829 | 1960 | **4881** | 3699 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total noninterest expenses | **39572** | 38053 | 37514 | 29725 | 29493 | **77625** | 58980 |
| Income before income taxes | **17099** | 18297 | 10776 | 11499 | 10933 | **35396** | 19557 |
| Income tax expense | **3963** | 4365 | 3243 | 2827 | 2728 | **8328** | 4790 |
| **Net income** | $**13136** | $13932 | $7533 | $8672 | $8205 | $**27068** | $14767 |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **<u>Consolidated Balance Sheets</u>** | | | | | |
|  | **(unaudited)** | (unaudited) | (audited) | (unaudited) | (unaudited) |
| (in thousands, except share data) | **June 30, 2025** | March 31, 2025 | December 31, 2024 | September 30, 2024 | June 30, 2024 |
| **Assets** |  |  |  |  |  |
| Cash and due from banks | $**26843** | $27836 | $25433 | $23462 | $19294 |
| Interest-bearing deposits at other financial institutions | **247704** | 266092 | 179841 | 133180 | 117160 |
| Federal funds sold | **59** | 59 | 58 | 58 | 57 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total cash and cash equivalents | **274606** | 293987 | 205332 | 156700 | 136511 |
| Investment securities available-for-sale | **228923** | 213452 | 223630 | 208700 | 207917 |
| Restricted investments | **7043** | 7031 | 4479 | 5895 | 4930 |
| Loans held for sale | **20925** | 34656 | 21270 | 19554 | 19219 |
| Portfolio loans receivable, net of deferred fees and costs | **2739808** | 2678406 | 2630163 | 2107522 | 2021588 |
| &nbsp;&nbsp;&nbsp;&nbsp;Less allowance for credit losses | **(47447)** | (48454) | (48652) | (31925) | (30832) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total portfolio loans held for investment, net | **2692361** | 2629952 | 2581511 | 2075597 | 1990756 |
| Premises and equipment, net | **14863** | 15085 | 15525 | 5959 | 5551 |
| Accrued interest receivable | **15149** | 19458 | 16664 | 12468 | 12162 |
| Goodwill | **22478** | 24085 | 21126 |  |  |
| Intangible assets | **13668** | 13861 | 14072 |  |  |
| Core deposit intangibles | **1627** | 1695 | 1745 |  |  |
| Loan servicing assets | **2221** | 2244 | 5511 |  |  |
| Deferred tax asset | **15667** | 15902 | 16670 | 10748 | 12150 |
| Bank owned life insurance | **44721** | 44335 | 43956 | 38779 | 38414 |
| Other assets | **34410** | 34062 | 35420 | 26388 | 10973 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | $**3388662** | $3349805 | $3206911 | $2560788 | $2438583 |
| **Liabilities** |  |  |  |  |  |
| Deposits |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Noninterest-bearing | $**836979** | $812224 | $810928 | $718120 | $684574 |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest-bearing | **2103759** | 2079109 | 1951011 | 1468104 | 1415854 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total deposits | **2940738** | 2891333 | 2761939 | 2186224 | 2100428 |
| Federal Home Loan Bank advances | **22000** | 22000 | 22000 | 52000 | 32000 |
| Other borrowed funds | **12062** | 12062 | 12062 | 12062 | 12062 |
| Accrued interest payable | **8158** | 9995 | 9393 | 8503 | 6573 |
| Other liabilities | **25669** | 44838 | 46378 | 21888 | 19666 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | **3008627** | 2980228 | 2851772 | 2280677 | 2170729 |
| **Stockholders' equity** |  |  |  |  |  |
| Common stock | **166** | 167 | 167 | 139 | 139 |
| Additional paid-in capital | **126888** | 128692 | 128598 | 55585 | 55005 |
| Retained earnings | **261093** | 249925 | 237843 | 232995 | 225824 |
| Accumulated other comprehensive loss | **(8112)** | (9207) | (11469) | (8608) | (13114) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total stockholders' equity | **380035** | 369577 | 355139 | 280111 | 267854 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities and stockholders' equity | $**3388662** | $3349805 | $3206911 | $2560788 | $2438583 |

---

------

The following tables show the average outstanding balance of each principal category of our assets, liabilities and stockholders' equity, together with the average yields on our assets and the average costs of our liabilities for the periods indicated. Such yields and costs are calculated by dividing the annualized income or expense by the average daily balances of the corresponding assets or liabilities for the same period.

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended<br>June 30, 2025** | **Three Months Ended<br>June 30, 2025** | **Three Months Ended<br>June 30, 2025** | Three Months Ended<br>March 31, 2025 | Three Months Ended<br>March 31, 2025 | Three Months Ended<br>March 31, 2025 | Three Months Ended<br>June 30, 2024 | Three Months Ended<br>June 30, 2024 | Three Months Ended<br>June 30, 2024 |
| | **Average <br>Outstanding <br>Balance** | **Interest Income/ <br>Expense** | **Average <br>Yield/ <br>Rate**<sup>(1)</sup> | Average <br>Outstanding <br>Balance | Interest Income/ <br>Expense | Average <br>Yield/ <br>Rate<sup>(1)</sup> | Average <br>Outstanding <br>Balance | Interest Income/ <br>Expense | Average <br>Yield/ <br>Rate<sup>(1)</sup> |
| | **(in thousands)** | **(in thousands)** | **(in thousands)** | **(in thousands)** | **(in thousands)** | **(in thousands)** | **(in thousands)** | **(in thousands)** | **(in thousands)** |
| **Assets** |  |  |  |  |  |  |  |  |  |
| Interest earning assets: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest-bearing deposits | $**182192** | $**2065** | **4.55%** | $203053 | $2138 | 4.27% | $77069 | $937 | 4.89% |
| &nbsp;&nbsp;&nbsp;&nbsp;Federal funds sold | **59** | **—** | **—** | 58 | 1 | 6.99 | 56 | 1 | 7.18 |
| &nbsp;&nbsp;&nbsp;&nbsp;Investment securities available-for-sale | **230317** | **1582** | **2.76** | 235605 | 1861 | 3.20 | 223973 | 1308 | 2.35 |
| &nbsp;&nbsp;&nbsp;&nbsp;Restricted investments | **7038** | **129** | **7.35** | 5761 | 69 | 4.86 | 5435 | 94 | 6.96 |
| &nbsp;&nbsp;&nbsp;&nbsp;Loans held for sale | **9950** | **163** | **6.57** | 9356 | 238 | 10.32 | 7907 | 132 | 6.71 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio loans receivable<sup>(2)(3)</sup> | **2733865** | **60647** | **8.90** | 2634110 | 58453 | 9.00 | 1992630 | 48143 | 9.72 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest earning assets | **3163421** | **64586** | **8.19** | 3087943 | 62760 | 8.24 | 2307070 | 50615 | 8.82 |
| Noninterest earning assets | **129112** |  |  | 134021 |  |  | 46798 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total assets | $**3292533** |  |  | $3221964 |  |  | $2353868 |  |  |
| **Liabilities and Stockholders' Equity** |  |  |  |  |  |  |  |  |  |
| Interest-bearing liabilities: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest-bearing demand accounts | $**281878** | **391** | **0.56** | $242355 | 368 | 0.62 | $216247 | 148 | 0.28 |
| &nbsp;&nbsp;&nbsp;&nbsp;Savings | **13043** | **16** | **0.49** | 13204 | 18 | 0.55 | 4409 | 1 | 0.09 |
| &nbsp;&nbsp;&nbsp;&nbsp;Money market accounts | **924784** | **8022** | **3.48** | 869978 | 7399 | 3.45 | 671240 | 7032 | 4.21 |
| &nbsp;&nbsp;&nbsp;&nbsp;Time deposits | **816809** | **8293** | **4.07** | 859729 | 8727 | 4.12 | 465822 | 5869 | 5.07 |
| &nbsp;&nbsp;&nbsp;&nbsp;Borrowed funds | **34062** | **218** | **2.57** | 34062 | 201 | 2.39 | 54863 | 508 | 3.72 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest-bearing liabilities | **2070576** | **16940** | **3.28** | 2019328 | 16713 | 3.36 | 1412581 | 13558 | 3.86 |
| Noninterest-bearing liabilities: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Noninterest-bearing liabilities | **45523** |  |  | 56503 |  |  | 24844 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Noninterest-bearing deposits | **804639** |  |  | 783018 |  |  | 653018 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Stockholders' equity | **371795** |  |  | 363115 |  |  | 263425 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities and stockholders' equity | $**3292533** |  |  | $3221964 |  |  | $2353868 |  |  |
| Net interest spread |  |  | **4.91%** |  |  | 4.88% |  |  | 4.96% |
| Net interest income |  | $**47646** |  |  | $46047 |  |  | $37057 |  |
| Net interest margin<sup>(4)</sup> |  |  | **6.04%** |  |  | 6.05% |  |  | 6.46% |

---

_______________

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<sup>(1)</sup>Annualized.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<sup>(2)</sup>Includes nonaccrual loans.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<sup>(3)</sup>For the three months ended June 30, 2025, March 31, 2025, and June 30, 2024, collectively, Commercial Bank Loan Yield was 7.14%, 7.14% and 7.04%, respectively.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<sup>(4)</sup>For the three months ended June 30, 2025, March 31, 2025, and June 30, 2024, collectively, Commercial Bank Net Interest Margin was 4.36%, 4.32% and 3.90%, respectively.

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Six Months Ended June 30,** | **Six Months Ended June 30,** | **Six Months Ended June 30,** | **Six Months Ended June 30,** | **Six Months Ended June 30,** | **Six Months Ended June 30,** |
| | **2025** | **2025** | **2025** | 2024 | 2024 | 2024 |
| | **Average <br>Outstanding <br>Balance** | **Interest Income/ <br>Expense** | **Average <br>Yield/ <br>Rate**<sup>(1)</sup> | Average <br>Outstanding <br>Balance | Interest Income/ <br>Expense | Average <br>Yield/ <br>Rate<sup>(1)</sup> |
| | **(in thousands)** | **(in thousands)** | **(in thousands)** | **(in thousands)** | **(in thousands)** | **(in thousands)** |
| **Assets** |  |  |  |  |  |  |
| Interest earning assets: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest-bearing deposits | $**192565** | $**4203** | **4.40%** | $80800 | $1986 | 4.94% |
| &nbsp;&nbsp;&nbsp;&nbsp;Federal funds sold | **59** | **1** | **3.42** | 56 | 2 | 7.18 |
| &nbsp;&nbsp;&nbsp;&nbsp;Investment securities available-for-sale | **232947** | **3443** | **2.98** | 228602 | 2559 | 2.25 |
| &nbsp;&nbsp;&nbsp;&nbsp;Restricted investments | **6403** | **198** | **6.24** | 5018 | 171 | 6.85 |
| &nbsp;&nbsp;&nbsp;&nbsp;Loans held for sale | **9654** | **401** | **8.38** | 6390 | 215 | 6.77 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio loans receivable<sup>(2)(3)</sup> | **2684263** | **119100** | **8.95** | 1960001 | 94051 | 9.65 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest earning assets | **3125891** | **127346** | **8.22** | 2280867 | 98984 | 8.73 |
| Noninterest earning assets | **131552** |  |  | 45684 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total assets | $**3257443** |  |  | $2326551 |  |  |
| **Liabilities and Stockholders' Equity** |  |  |  |  |  |  |
| Interest-bearing liabilities: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest-bearing demand accounts | $**262226** | $**759** | **0.58%** | $199732 | $258 | 0.26% |
| &nbsp;&nbsp;&nbsp;&nbsp;Savings | **13123** | **34** | **0.52** | 4625 | 2 | 0.09 |
| &nbsp;&nbsp;&nbsp;&nbsp;Money market accounts | **897532** | **15421** | **3.46** | 676827 | 14168 | 4.21 |
| &nbsp;&nbsp;&nbsp;&nbsp;Time deposits | **838151** | **17020** | **4.09** | 457892 | 11455 | 5.03 |
| &nbsp;&nbsp;&nbsp;&nbsp;Borrowed funds | **34062** | **419** | **2.48** | 56913 | 1036 | 3.66 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest-bearing liabilities | **2045094** | **33653** | **3.32** | 1395989 | 26919 | 3.88 |
| Noninterest-bearing liabilities: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Noninterest-bearing liabilities | **50982** |  |  | 24332 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Noninterest-bearing deposits | **793888** |  |  | 645071 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Stockholders' equity | **367479** |  |  | 261159 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities and stockholders' equity | $**3257443** |  |  | $2326551 |  |  |
| Net interest spread |  |  | **4.90%** |  |  | 4.85% |
| Net interest income |  | $**93693** |  |  | $72065 |  |
| Net interest margin<sup>(4)</sup> |  |  | **6.04%** |  |  | 6.35% |

---

<sup>(1)</sup> Annualized.

<sup>(2)</sup> Includes nonaccrual loans.

<sup>(3)</sup> For the years ended June 30, 2025 and 2024, collectively. Commercial Bank Loan Yield was 7.14% and 7.00%, respectively.

<sup>(4)</sup> For the years ended June 30, 2025 and 2024, collectively. Commercial Bank Net Interest Margin was 4.33% and 3.84%, respectively.

------

The Company's reportable segments represent business units with discrete financial information whose results are regularly reviewed by management. The four segments include Commercial Banking, OpenSky<sup>™</sup> (the Company's credit card division), Windsor Advantage<sup>™</sup> and Capital Bank Home Loans (the Company's mortgage loan division).

Prior to March 31, 2025, the Company disclosed Corporate as a reportable segment. The Company has determined that what was previously deemed the Corporate reportable segment consists of other business activities that are associated with the Commercial Bank and are reflected in the tabular disclosures that follow. It should be noted that such restructuring of the tabular disclosure did not result in any changes to the Company's revenue and expense allocation methodology. The Company restructured prior period tabular disclosures to achieve appropriate comparability.

The following schedules reported internally for performance assessment by the chief operating decision maker presents financial information for each reportable segment for the periods indicated. Total assets are presented as of June 30, 2025, March 31, 2025, and June 30, 2024.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Segments** | | | | | | |
| **<u>For the three months ended June 30, 2025</u>** | **<u>For the three months ended June 30, 2025</u>** | **<u>For the three months ended June 30, 2025</u>** | **<u>For the three months ended June 30, 2025</u>** | **<u>For the three months ended June 30, 2025</u>** | | |
| (in thousands) | **Commercial Bank** |  | **OpenSky**<sup>™</sup> | **Windsor Advantage**<sup>™</sup> | **CBHL** | **Consolidated** |
| Interest income | $**49929** |  | $**14494** | $**—** | $**163** | $**64586** |
| Interest expense | **16856** |  |  | **—** | **84** | **16940** |
| &nbsp;&nbsp;&nbsp;**Net interest income** | **33073** |  | **14494** | **—** | **79** | **47646** |
| Provision for credit losses | **1159** |  | **2922** | **—** | **—** | **4081** |
| Provision for credit losses on unfunded commitments | **—** |  | **—** | **—** | **—** | **—** |
| &nbsp;&nbsp;&nbsp;**Net interest income after provision** | **31914** |  | **11572** | **—** | **79** | **43565** |
| **Noninterest income** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Service charges on deposits | **262** |  | **—** | **—** | **—** | **262** |
| &nbsp;&nbsp;&nbsp;Credit card fees | **—** |  | **4298** | **—** | **—** | **4298** |
| &nbsp;&nbsp;&nbsp;Mortgage banking revenue | **465** |  | **—** | **—** | **1289** | **1754** |
| &nbsp;&nbsp;&nbsp;Government lending revenue | **3112** |  | **—** | **—** | **—** | **3112** |
| &nbsp;&nbsp;&nbsp;Government loan servicing revenue<sup>(1)</sup> | **(1052)** |  | **—** | **4696** | **—** | **3644** |
| &nbsp;&nbsp;&nbsp;Loan servicing rights (government guaranteed)<sup>(2)</sup> | **(590)** |  | **—** | **—** | **—** | **(590)** |
| &nbsp;&nbsp;&nbsp;Other income | **349** |  | **25** | **—** | **252** | **626** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total noninterest income | **2546** | **2546000** | **4323** | **4696** | **1541** | **13106** |
| **Noninterest expenses** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Salaries and employee benefits  | **11090** |  | **3403** | **2509** | **1458** | **18460** |
| &nbsp;&nbsp;&nbsp;Occupancy and equipment | **1903** |  | **573** | **368** | **151** | **2995** |
| &nbsp;&nbsp;&nbsp;Professional fees | **1572** |  | **552** | **71** | **227** | **2422** |
| &nbsp;&nbsp;&nbsp;Data processing | **454** |  | **6897** | **133** | **36** | **7520** |
| &nbsp;&nbsp;&nbsp;Advertising | **795** |  | **470** | **35** | **71** | **1371** |
| &nbsp;&nbsp;&nbsp;Loan processing | **650** |  | **24** | **54** | **251** | **979** |
| &nbsp;&nbsp;&nbsp;Foreclosed real estate expenses, net | **—** |  | **—** | **—** | **—** | **—** |
| &nbsp;&nbsp;&nbsp;Merger-related expenses | **1398** |  | **—** | **—** | **—** | **1398** |
| &nbsp;&nbsp;&nbsp;Operational losses | **100** |  | **833** | **—** | **—** | **933** |
| &nbsp;&nbsp;&nbsp;Regulatory assessment expenses | **860** |  | **15** | **6** | **3** | **884** |
| &nbsp;&nbsp;&nbsp;Other operating | **1817** |  | **338** | **354** | **101** | **2610** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total noninterest expenses | **20639** |  | **13105** | **3530** | **2298** | **39572** |
| &nbsp;&nbsp;&nbsp;**Net income (loss) before taxes** | $**13821** |  | $**2790** | $**1166** | $**(678)** | $**17099** |
| **Total assets** | $**3211421** |  | $**129397** | $**25936** | $**21908** | $**3388662** |

---

________________________

<sup>(1) &nbsp;&nbsp;&nbsp;&nbsp;</sup>Gross government loan servicing revenue totaled $4.7 million, including $1.1 million of servicing fees earned from the Commercial Bank by Windsor, for the three months ended June 30, 2025.

<sup>(2) &nbsp;&nbsp;&nbsp;&nbsp;</sup>Loan servicing revenue of negative $0.6 million for the Commercial Bank includes a $1.1 million negative fair value adjustment associated with loan servicing portfolio

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Segments** | | | | | |
| **<u>For the three months ended March 31, 2025</u>** | **<u>For the three months ended March 31, 2025</u>** | **<u>For the three months ended March 31, 2025</u>** | **<u>For the three months ended March 31, 2025</u>** | | |
| (in thousands) | **Commercial Bank** | **OpenSky**<sup>™</sup> | **Windsor Advantage**<sup>™</sup> | **CBHL** | **Consolidated** |
| Interest income | $**48164** | $**14444** | $**—** | $**152** | $**62760** |
| Interest expense | **16649** | **—** | **—** | **64** | **16713** |
| &nbsp;&nbsp;&nbsp;**Net interest income** | **31515** | **14444** | **—** | **88** | **46047** |
| Provision for credit losses | **446** | **1800** | **—** | **—** | **2246** |
| Provision for credit losses on unfunded commitments | **—** | **—** | **—** | **—** | **—** |
| &nbsp;&nbsp;&nbsp;**Net interest income after provision** | **31069** | **12644** | **—** | **88** | **43801** |
| **Noninterest income** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Service charges on deposits | **258** | **—** | **—** | **—** | **258** |
| &nbsp;&nbsp;&nbsp;Credit card fees | **—** | **3722** | **—** | **—** | **3722** |
| &nbsp;&nbsp;&nbsp;Mortgage banking revenue | **263** | **—** | **—** | **1568** | **1831** |
| &nbsp;&nbsp;&nbsp;Government lending revenue | **1096** | **—** | **—** | **—** | **1096** |
| &nbsp;&nbsp;&nbsp;Government loan servicing revenue<sup>(1)</sup> | **(1038)** | **—** | **4606** | **—** | **3568** |
| &nbsp;&nbsp;&nbsp;Loan servicing rights (government guaranteed) | **472** | **—** | **—** | **—** | **472** |
| &nbsp;&nbsp;&nbsp;Other income | **1423** | **11** | **—** | **168** | **1602** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total noninterest income | **2474** | **3733** | **4606** | **1736** | **12549** |
| **Noninterest expenses** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Salaries and employee benefits  | **10626** | **3345** | **2406** | **1690** | **18067** |
| &nbsp;&nbsp;&nbsp;Occupancy and equipment | **1577** | **488** | **711** | **134** | **2910** |
| &nbsp;&nbsp;&nbsp;Professional fees | **1151** | **591** | **120** | **250** | **2112** |
| &nbsp;&nbsp;&nbsp;Data processing | **440** | **6582** | **53** | **37** | **7112** |
| &nbsp;&nbsp;&nbsp;Advertising | **718** | **874** | **104** | **83** | **1779** |
| &nbsp;&nbsp;&nbsp;Loan processing | **477** | **19** | **7** | **240** | **743** |
| &nbsp;&nbsp;&nbsp;Foreclosed real estate expenses, net | **1** | **—** | **—** | **—** | **1** |
| &nbsp;&nbsp;&nbsp;Merger-related expenses | **1266** | **—** | **—** | **—** | **1266** |
| &nbsp;&nbsp;&nbsp;Operational losses | **31** | **872** | **—** | **—** | **903** |
| &nbsp;&nbsp;&nbsp;Regulatory assessment expenses | **865** | **15** | **5** | **4** | **889** |
| &nbsp;&nbsp;&nbsp;Other operating | **1408** | **516** | **254** | **93** | **2271** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total noninterest expenses | **18560** | **13302** | **3660** | **2531** | **38053** |
| &nbsp;&nbsp;&nbsp;**Net income (loss) before taxes** | $**14983** | $**3075** | $**946** | $**(707)** | $**18297** |
| **Total assets** | $**3192327** | $**119636** | $**23750** | $**14092** | $**3349805** |

---

________________________

<sup>(1) &nbsp;&nbsp;&nbsp;&nbsp;</sup>Gross government loan servicing revenue totaled $4.6 million, including $1.0 million of servicing fees earned from the Commercial Bank by Windsor, for the three months ended March 31, 2025.

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Segments** | | | | | |
| **<u>For the three months ended June 30, 2024</u>** | **<u>For the three months ended June 30, 2024</u>** | **<u>For the three months ended June 30, 2024</u>** | **<u>For the three months ended June 30, 2024</u>** | | |
| (in thousands) | **Commercial Bank** | **OpenSky**<sup>™</sup> | **Windsor Advantage**<sup>™</sup> | **CBHL** | **Consolidated** |
| Interest income | $**34698** | $**15785** | $**—** | $**132** | $**50615** |
| Interest expense | **13475** | **—** | **—** | **83** | **13558** |
| &nbsp;&nbsp;&nbsp;**Net interest income** | **21223** | **15785** | **—** | **49** | **37057** |
| Provision for credit losses | **1118** | **2299** | **—** | **—** | **3417** |
| Provision for credit losses on unfunded commitments | **104** | **—** | **—** | **—** | **104** |
| &nbsp;&nbsp;&nbsp;**Net interest income after provision** | **20001** | **13486** | **—** | **49** | **33536** |
| **Noninterest income** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Service charges on deposits | **200** | **—** | **—** | **—** | **200** |
| &nbsp;&nbsp;&nbsp;Credit card fees | **—** | **4330** | **—** | **—** | **4330** |
| &nbsp;&nbsp;&nbsp;Mortgage banking revenue | **334** | **—** | **—** | **1656** | **1990** |
| &nbsp;&nbsp;&nbsp;Other income | **143** | **38** | **—** | **189** | **370** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total noninterest income | **677** | **4368** | **—** | **1845** | **6890** |
| **Noninterest expense** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Salaries and employee benefits  | **8595** | **3086** | **—** | **1591** | **13272** |
| &nbsp;&nbsp;&nbsp;Occupancy and equipment | **1221** | **499** | **—** | **144** | **1864** |
| &nbsp;&nbsp;&nbsp;Professional fees | **855** | **675** | **—** | **239** | **1769** |
| &nbsp;&nbsp;&nbsp;Data processing | **145** | **6597** | **—** | **46** | **6788** |
| &nbsp;&nbsp;&nbsp;Advertising | **404** | **1576** | **—** | **92** | **2072** |
| &nbsp;&nbsp;&nbsp;Loan processing | **233** | **16** | **—** | **227** | **476** |
| &nbsp;&nbsp;&nbsp;Foreclosed real estate expenses, net | **—** | **—** | **—** | **—** | **—** |
| &nbsp;&nbsp;&nbsp;Merger-related expenses | **83** | **—** | **—** | **—** | **83** |
| &nbsp;&nbsp;&nbsp;Operational losses | **—** | **782** | **—** | **—** | **782** |
| &nbsp;&nbsp;&nbsp;Regulatory assessment expenses | **427** | **—** | **—** | **—** | **427** |
| &nbsp;&nbsp;&nbsp;Other operating | **1255** | **544** | **—** | **161** | **1960** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total noninterest expenses | **13218** | **13775** | **—** | **2500** | **29493** |
| &nbsp;&nbsp;&nbsp;**Net income (loss) before taxes** | $**7460** | $**4079** | $**—** | $**(606)** | $**10933** |
| **Total assets** | $**2303368** | $**115593** | $**—** | $**19622** | $**2438583** |

---

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Segments** | | | | | |
| **<u>For the six months ended June 30, 2025</u>** | **<u>For the six months ended June 30, 2025</u>** | **<u>For the six months ended June 30, 2025</u>** | **<u>For the six months ended June 30, 2025</u>** | | |
| (in thousands) | **Commercial Bank** | **OpenSky**<sup>™</sup> | **Windsor Advantage**<sup>™</sup> | **CBHL** | **Consolidated** |
| Interest income | $**98093** | $**28938** | $**—** | $**315** | $**127346** |
| Interest expense | **33505** | **—** | **—** | **148** | **33653** |
| &nbsp;&nbsp;&nbsp;**Net interest income** | **64588** | **28938** | **—** | **167** | **93693** |
| Provision for credit losses | **1605** | **4722** | **—** | **—** | **6327** |
| Provision for credit losses on unfunded commitments | **—** | **—** | **—** | **—** | **—** |
| &nbsp;&nbsp;&nbsp;**Net interest income after provision** | **62983** | **24216** | **—** | **167** | **87366** |
| **Noninterest income** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Service charges on deposits | **520** | **—** | **—** | **—** | **520** |
| &nbsp;&nbsp;&nbsp;Credit card fees | **—** | **8020** | **—** | **—** | **8020** |
| &nbsp;&nbsp;&nbsp;Mortgage banking revenue | **728** | **—** | **—** | **2857** | **3585** |
| &nbsp;&nbsp;&nbsp;Government lending revenue | **4208** | **—** | **—** | **—** | **4208** |
| &nbsp;&nbsp;&nbsp;Government loan servicing revenue<sup>(1)</sup> | **(2090)** | **—** | **9302** | **—** | **7212** |
| &nbsp;&nbsp;&nbsp;Loan servicing rights (government guaranteed) | **(118)** | **—** | **—** | **—** | **(118)** |
| &nbsp;&nbsp;&nbsp;Other income | **1772** | **36** | **—** | **420** | **2228** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total noninterest income | **5020** | **8056** | **9302** | **3277** | **25655** |
| **Noninterest expenses** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Salaries and employee benefits  | **21716** | **6748** | **4915** | **3148** | **36527** |
| &nbsp;&nbsp;&nbsp;Occupancy and equipment | **3480** | **1061** | **1079** | **285** | **5905** |
| &nbsp;&nbsp;&nbsp;Professional fees | **2723** | **1143** | **191** | **477** | **4534** |
| &nbsp;&nbsp;&nbsp;Data processing | **894** | **13479** | **186** | **73** | **14632** |
| &nbsp;&nbsp;&nbsp;Advertising | **1513** | **1344** | **139** | **154** | **3150** |
| &nbsp;&nbsp;&nbsp;Loan processing | **1127** | **43** | **61** | **491** | **1722** |
| &nbsp;&nbsp;&nbsp;Foreclosed real estate expenses, net | **1** | **—** | **—** | **—** | **1** |
| &nbsp;&nbsp;&nbsp;Merger-related expenses | **2664** | **—** | **—** | **—** | **2664** |
| &nbsp;&nbsp;&nbsp;Operational losses | **131** | **1705** | **—** | **—** | **1836** |
| &nbsp;&nbsp;&nbsp;Regulatory assessment expenses | **1725** | **30** | **11** | **7** | **1773** |
| &nbsp;&nbsp;&nbsp;Other operating | **3225** | **854** | **608** | **194** | **4881** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total noninterest expenses | **39199** | **26407** | **7190** | **4829** | **77625** |
| &nbsp;&nbsp;&nbsp;**Net income (loss) before taxes** | $**28804** | $**5865** | $**2112** | $**(1385)** | $**35396** |
| **Total assets** | $**3211421** | $**129397** | $**25936** | $**21908** | $**3388662** |

---

________________________

<sup>(1) &nbsp;&nbsp;&nbsp;&nbsp;</sup>Gross government loan servicing revenue totaled $9.3 million, including $2.1 million of servicing fees earned from the Commercial Bank by Windsor, for the six months ended June 30, 2025.

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Segments** | | | | | |
| **<u>For the six months ended June 30, 2024</u>** | **<u>For the six months ended June 30, 2024</u>** | **<u>For the six months ended June 30, 2024</u>** | **<u>For the six months ended June 30, 2024</u>** | | |
| (in thousands) | **Commercial Bank** | **OpenSky™** | **Windsor Advantage**<sup>™</sup> | **CBHL** | **Consolidated** |
| Interest income | $**68063** | $**30706** | $**—** | $**215** | $**98984** |
| Interest expense | **26795** | **—** | **—** | **124** | **26919** |
| &nbsp;&nbsp;&nbsp;**Net interest income** | **41268** | **30706** | **—** | **91** | **72065** |
| Provision for credit losses | **2286** | **3858** | **—** | **—** | **6144** |
| Provision for credit losses on unfunded commitments | **246** | **—** | **—** | **—** | **246** |
| &nbsp;&nbsp;&nbsp;**Net interest income after provision** | **38736** | **26848** | **—** | **91** | **65675** |
| **Noninterest income** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Service charges on deposits | **407** | **—** | **—** | **—** | **407** |
| &nbsp;&nbsp;&nbsp;Credit card fees | **—** | **8211** | **—** | **—** | **8211** |
| &nbsp;&nbsp;&nbsp;Mortgage banking revenue | **622** | **—** | **—** | **2821** | **3443** |
| &nbsp;&nbsp;&nbsp;Other income | **353** | **72** | **—** | **376** | **801** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total noninterest income | **1382** | **8283** | **—** | **3197** | **12862** |
| **Noninterest expenses** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Salaries and employee benefits  | **17304** | **5898** | **—** | **2977** | **26179** |
| &nbsp;&nbsp;&nbsp;Occupancy and equipment | **2265** | **933** | **—** | **279** | **3477** |
| &nbsp;&nbsp;&nbsp;Professional fees | **1656** | **1616** | **—** | **444** | **3716** |
| &nbsp;&nbsp;&nbsp;Data processing | **461** | **13004** | **—** | **84** | **13549** |
| &nbsp;&nbsp;&nbsp;Advertising | **786** | **3168** | **—** | **150** | **4104** |
| &nbsp;&nbsp;&nbsp;Loan processing | **392** | **29** | **—** | **426** | **847** |
| &nbsp;&nbsp;&nbsp;Foreclosed real estate expenses, net | **1** | **—** | **—** | **—** | **1** |
| &nbsp;&nbsp;&nbsp;Merger-related expenses | **795** | **—** | **—** | **—** | **795** |
| &nbsp;&nbsp;&nbsp;Operational losses | **5** | **1708** | **—** | **—** | **1713** |
| &nbsp;&nbsp;&nbsp;Regulatory assessment expenses | **900** | **—** | **—** | **—** | **900** |
| &nbsp;&nbsp;&nbsp;Other operating | **2436** | **1018** | **—** | **245** | **3699** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total noninterest expenses | **27001** | **27374** | **—** | **4605** | **58980** |
| &nbsp;&nbsp;&nbsp;**Net income (loss) before taxes** | $**13117** | $**7757** | $**—** | $**(1317)** | $**19557** |
| **Total assets** | $**2303368** | $**115593** | $**—** | $**19622** | $**2438583** |

---

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **<u>HISTORICAL FINANCIAL HIGHLIGHTS - Unaudited</u>** | **<u>HISTORICAL FINANCIAL HIGHLIGHTS - Unaudited</u>** | **<u>HISTORICAL FINANCIAL HIGHLIGHTS - Unaudited</u>** | **<u>HISTORICAL FINANCIAL HIGHLIGHTS - Unaudited</u>** | **<u>HISTORICAL FINANCIAL HIGHLIGHTS - Unaudited</u>** | **<u>HISTORICAL FINANCIAL HIGHLIGHTS - Unaudited</u>** |
| | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** |
| (in thousands, except per share data) | **June 30,<br>2025** | **March 31, 2025** | **December 31,<br>2024** | **September 30,<br>2024** | **June 30,<br>2024** |
| **<u>Earnings:</u>** |  |  |  |  |  |
| Net income | $13136 | $13932 | $7533 | $8672 | $8205 |
| Earnings per common share, diluted | 0.78 | 0.82 | 0.45 | 0.62 | 0.59 |
| Net interest margin | 6.04% | 6.05% | 5.87% | 6.41% | 6.46% |
| Commercial Bank net interest margin<sup>(2)</sup> | 4.36% | 4.32% | 3.99% | 4.01% | 3.90% |
| Return on average assets<sup>(1)</sup> | 1.60% | 1.75% | 0.96% | 1.42% | 1.40% |
| Return on average equity<sup>(1)</sup> | 14.17% | 15.56% | 8.50% | 12.59% | 12.53% |
| Efficiency ratio | 65.14% | 64.94% | 66.70% | 66.07% | 67.11% |
| **<u>Balance Sheet:</u>** |  |  |  |  |  |
| Total portfolio loans receivable, net deferred fees | $2739808 | $2678406 | $2630163 | $2107522 | $2021588 |
| Total deposits | 2940738 | 2891333 | 2761939 | 2186224 | 2100428 |
| Total assets | 3388662 | 3349805 | 3206911 | 2560788 | 2438583 |
| Total stockholders' equity | 380035 | 369577 | 355139 | 280111 | 267854 |
| Total average portfolio loans receivable, net deferred fees | 2733865 | 2634110 | 2592960 | 2053619 | 1992630 |
| Total average deposits | 2841153 | 2768284 | 2611994 | 2091294 | 2010736 |
| Portfolio loans-to-deposit ratio (period-end balances) | 93.17% | 92.64% | 95.23% | 96.40% | 96.25% |
| Portfolio loans-to-deposit ratio (average balances) | 96.22% | 95.15% | 99.27% | 98.20% | 99.10% |
| **<u>Asset Quality Ratios:</u>** |  |  |  |  |  |
| Nonperforming assets to total assets | 1.11% | 1.28% | 0.94% | 0.60% | 0.58% |
| Nonperforming loans to total loans | 1.37% | 1.60% | 1.15% | 0.73% | 0.70% |
| Net charge-offs to average portfolio loans <sup>(1)</sup> | 0.75% | 0.38% | 0.37% | 0.51% | 0.39% |
| Allowance for credit losses to total loans | 1.73% | 1.81% | 1.85% | 1.51% | 1.53% |
| Allowance for credit losses to non-performing loans | 126.51% | 119.73% | 160.88% | 206.50% | 219.40% |
| **<u>Bank Capital Ratios:</u>** |  |  |  |  |  |
| Total risk based capital ratio | 13.13% | 12.93% | 12.79% | 13.76% | 14.51% |
| Tier-1 risk based capital ratio | 11.87% | 11.67% | 11.54% | 12.50% | 13.25% |
| Leverage ratio | 9.39% | 9.27% | 9.17% | 9.84% | 10.36% |
| Common Equity Tier-1 capital ratio | 11.87% | 11.67% | 11.54% | 12.50% | 13.25% |
| Tangible common equity | 8.84% | 8.66% | 9.31% | 9.12% | 9.53% |
| **<u>Holding Company Capital Ratios:</u>** |  |  |  |  |  |
| Total risk based capital ratio | 15.30% | 14.97% | 15.48% | 16.65% | 16.98% |
| Tier-1 risk based capital ratio | 13.66% | 13.32% | 13.83% | 14.88% | 15.19% |
| Leverage ratio | 10.90% | 10.68% | 11.07% | 11.85% | 11.93% |
| Common Equity Tier-1 capital ratio | 13.58% | 13.24% | 13.74% | 14.78% | 15.08% |
| Tangible common equity | 10.22% | 9.94% | 11.07% | 10.94% | 10.98% |

---

_______________

<sup>(1)</sup> Annualized.

<sup>(2)</sup> Refer to Appendix for reconciliation of non-GAAP measures.

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **<u>HISTORICAL FINANCIAL HIGHLIGHTS - Unaudited (Continued)</u>** | **<u>HISTORICAL FINANCIAL HIGHLIGHTS - Unaudited (Continued)</u>** | **<u>HISTORICAL FINANCIAL HIGHLIGHTS - Unaudited (Continued)</u>** | **<u>HISTORICAL FINANCIAL HIGHLIGHTS - Unaudited (Continued)</u>** | **<u>HISTORICAL FINANCIAL HIGHLIGHTS - Unaudited (Continued)</u>** | **<u>HISTORICAL FINANCIAL HIGHLIGHTS - Unaudited (Continued)</u>** |
| | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** |
| (in thousands, except per share data) | **June 30,<br>2025** | **March 31, 2025** | **December 31,<br>2024** | **September 30,<br>2024** | **June 30,<br>2024** |
| **<u>Composition of Loans:</u>** |  |  |  |  |  |
| Commercial real estate, non owner-occupied | $495341 | $484399 | $471329 | $403487 | $397080 |
| Commercial real estate, owner-occupied | 436421 | 420643 | 440026 | 351462 | 319370 |
| Residential real estate | 710730 | 693597 | 688552 | 623684 | 601312 |
| Construction real estate | 343189 | 343280 | 321252 | 301909 | 294489 |
| Commercial and industrial | 593279 | 594331 | 554550 | 271811 | 255686 |
| Lender finance | 32494 | 23165 | 28574 | 29546 | 33294 |
| Business equity lines of credit | 2853 | 3468 | 3090 | 2663 | 2989 |
| Credit card, net of reserve<sup>(3)</sup> | 131029 | 118709 | 127766 | 127098 | 122217 |
| Other consumer loans | 2727 | 2200 | 2089 | 2045 | 1930 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio loans receivable | $2748063 | $2683792 | $2637228 | $2113705 | $2028367 |
| Deferred origination fees, net | (8255) | (5386) | (7065) | (6183) | (6779) |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio loans receivable, net | $2739808 | $2678406 | $2630163 | $2107522 | $2021588 |
| **<u>Composition of Deposits:</u>** |  |  |  |  |  |
| Noninterest-bearing | $836979 | $812224 | $810928 | $718120 | $684574 |
| Interest-bearing demand | 319431 | 296455 | 238881 | 266493 | 266070 |
| Savings | 12879 | 12819 | 13488 | 3763 | 4270 |
| Money markets | 960237 | 912418 | 816708 | 686526 | 672455 |
| Customer time deposits | 541079 | 549630 | 548901 | 358300 | 317911 |
| Brokered time deposits | 270133 | 307787 | 333033 | 153022 | 155148 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total deposits | $2940738 | $2891333 | $2761939 | $2186224 | $2100428 |
| **<u>Capital Bank Home Loan Metrics:</u>** |  |  |  |  |  |
| Origination of loans held for sale | $80334 | $65815 | $89998 | $74690 | $82363 |
| Mortgage loans sold | 59663 | 54144 | 77399 | 67296 | 66417 |
| Gain on sale of loans | 1597 | 1664 | 1897 | 1644 | 1732 |
| Purchase volume as a % of originations | 91.61% | 90.73% | 90.42% | 90.98% | 96.48% |
| Gain on sale as a % of loans sold<sup>(4)</sup> | 2.68% | 3.07% | 2.45% | 2.44% | 2.61% |
| Mortgage commissions | $501 | $545 | $620 | $598 | $582 |
| **<u>OpenSk</u>y**<sup>™</sup> **<u>Portfolio Metrics:</u>** |  |  |  |  |  |
| Open customer accounts | 585372 | 563718 | 552566 | 548952 | 537734 |
| Secured credit card loans, gross | $86400 | $81252 | $87226 | $89641 | $90961 |
| Unsecured credit card loans, gross | 46352 | 38987 | 42430 | 39730 | 33560 |
| Noninterest secured credit card deposits | 168936 | 168796 | 166355 | 170750 | 173499 |

---

_______________

<sup>(3)</sup> Credit card loans are presented net of reserve for interest and fees.

<sup>(4)</sup> Gain on sale percentage is calculated as gain on sale of loans divided by mortgage loans sold.

------

Appendix

**Reconciliation of Non-GAAP Measures**

The Company has presented the following non-GAAP (U.S. Generally Accepted Accounting Principles) financial measures because it believes that these measures provide useful and comparative information to assess trends in the Company's results of operations and financial condition. Presentation of these non-GAAP financial measures is consistent with how the Company evaluates its performance internally and these non-GAAP financial measures are frequently used by securities analysts, investors and other interested parties in the evaluation of companies in the Company's industry. Investors should recognize that the Company's presentation of these non-GAAP financial measures might not be comparable to similarly-titled measures of other companies. These non-GAAP financial measures should not be considered a substitute for GAAP basis measures and the Company strongly encourages a review of its condensed consolidated financial statements in their entirety.

------

Appendix

**Reconciliation of Non-GAAP Measures**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Core Earnings Metrics** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** |
| (in thousands, except per share data) | **June 30, 2025** | **March 31, 2025** | **December 31, 2024** | **September 30, 2024** | **June 30, 2024** |
| **Net Income** | $13136 | $13932 | $7533 | $8672 | $8205 |
| Add: Merger-Related Expenses, Net of Tax | 1070 | 964 | 2151 | 557 | 62 |
| Add: Non-Recurring Equity and Debt Investment Write-Down |  |  | 2620 |  |  |
| Add: IFH ACL Provision, Net of Tax |  |  | 3169 |  |  |
| **Core Net Income** | $14206 | $14896 | $15473 | $9229 | $8267 |
| **Weighted Average Common Shares - Diluted** | 16802 | 16925 | 16729 | 13951 | 13895 |
| **Earnings per Share - Diluted** | $0.78 | $0.82 | $0.45 | $0.62 | $0.59 |
| **Core Earnings per Share - Diluted** | $0.85 | $0.88 | $0.92 | $0.66 | $0.59 |
| **Average Assets** | $3292533 | $3221964 | $3120107 | $2437870 | $2353868 |
| **Return on Average Assets**<sup>(1)</sup> | 1.60% | 1.75% | 0.96% | 1.42% | 1.40% |
| **Core Return on Average Assets**<sup>(1)</sup> | 1.73% | 1.87% | 1.97% | 1.51% | 1.41% |
| **Average Equity** | $371795 | $363115 | $352537 | $274087 | $263425 |
| **Return on Average Equity**<sup>(1)</sup> | 14.17% | 15.56% | 8.50% | 12.59% | 12.53% |
| **Core Return on Average Equity**<sup>(1)</sup> | 15.33% | 16.64% | 17.46% | 13.40% | 12.62% |
| **Net Interest Income (a)** | $47646 | $46047 | $44327 | $38354 | $37057 |
| **Noninterest Income** | 13106 | 12549 | 11913 | 6635 | 6890 |
| **Total Revenue** | $60752 | $58596 | $56240 | $44989 | $43947 |
| **Noninterest Expense** | $39572 | $38053 | $37514 | $29725 | $29493 |
| **Efficiency Ratio**<sup>(2)</sup> | 65.1% | 64.9% | 66.7% | 66.1% | 67.1% |
| **Noninterest Income** | $13106 | $12549 | $11913 | $6635 | $6890 |
| Add: Non-Recurring Equity and Debt Investment Write-Down |  |  | 2620 |  |  |
| **Core Fee Revenue (b)** | $13106 | $12549 | $14533 | $6635 | $6890 |
| **Core Revenue (a) + (b)** | $60752 | $58596 | $58860 | $44989 | $43947 |
| **Noninterest Expense** | $39572 | $38053 | $37514 | $29725 | $29493 |
| Less: Merger-Related Expenses | 1398 | 1266 | 2615 | 520 | 83 |
| **Core Noninterest Expense** | $38174 | $36787 | $34899 | $29205 | $29410 |
| **Core Efficiency Ratio**<sup>(2)</sup> | 62.8% | 62.8% | 59.3% | 64.9% | 66.9% |

---

_______________

<sup>(1)</sup> Annualized.

<sup>(2)</sup> The efficiency ratio is calculated by dividing noninterest expense by total revenue (net interest income plus noninterest income).

------

Appendix

**Reconciliation of Non-GAAP Measures**

---

| | | |
|:---|:---|:---|
| **Core Earnings Metrics** | **Six Months Ended** | **Six Months Ended** |
| (in thousands, except per share data) | **June 30, 2025** | **June 30, 2024** |
| **Net Income** | $27068 | $14767 |
| Add: Merger-Related Expenses, Net of Tax | 2034 | 600 |
| Add: Non-Recurring Equity and Debt Investment Write-Down |  |  |
| Add: IFH ACL Provision, Net of Tax |  |  |
| **Core Net Income** | $29102 | $15367 |
| **Weighted Average Common Shares - Diluted** | 16872 | 13907 |
| **Earnings per Share - Diluted** | $1.60 | $1.06 |
| **Core Earnings per Share - Diluted** | $1.72 | $1.10 |
| **Average Assets** | $3257443 | $2326551 |
| **Return on Average Assets**<sup>(1)</sup> | 1.68% | 1.28% |
| **Core Return on Average Assets** | 1.80% | 1.33% |
| **Average Equity** | $367479 | $261159 |
| **Return on Average Equity**<sup>(1)</sup> | 14.85% | 11.37% |
| **Core Return on Average Equity** | 15.97% | 11.83% |
| **Net Interest Income (a)** | $93693 | $72065 |
| **Noninterest Income** | 25655 | 12862 |
| **Total Revenue** | $119348 | $84927 |
| **Noninterest Expense** | $77625 | $58980 |
| **Efficiency Ratio**<sup>(2)</sup> | 65.0% | 69.4% |
| **Noninterest Income** | $25655 | $12862 |
| Add: Non-Recurring Equity and Debt Investment Write-Down |  |  |
| **Core Fee Revenue (b)** | $25655 | $12862 |
| **Core Revenue (a) + (b)** | $119348 | $84927 |
| **Noninterest Expense** | $77625 | $58980 |
| Less: Merger-Related Expenses | 2664 | 795 |
| **Core Noninterest Expense** | $74961 | $58185 |
| **Core Efficiency Ratio**<sup>(2)</sup> | 62.8% | 68.5% |

---

_______________

<sup>(1)</sup> Annualized.

<sup>(2)</sup> The efficiency ratio is calculated by dividing noninterest expense by total revenue (net interest income plus noninterest income).

------

Appendix

**Reconciliation of Non-GAAP Measures**

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Commercial Bank Net Interest Margin** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** |
| (in thousands) | **June 30, 2025** | **June 30, 2025** | **March 31, 2025** | **March 31, 2025** | **December 31, 2024** | **December 31, 2024** | **September 30, 2024** | **September 30, 2024** | **June 30, 2024** | **June 30, 2024** |
| **Commercial Bank Net Interest Income** | $| 33073 | $| 31515 | $| 28812 | $| 22676 | $| 21223 |
| Average Interest Earning Assets | 3176544 | 3176544 | 3087943 | 3087943 | 3003081 | 3003081 | 2380946 | 2380946 | 2307070 | 2307070 |
| &nbsp;&nbsp;Less: Average Non-Commercial Bank Interest Earning Assets | 132196 | 132196 | 128278 | 128278 | 133401 | 133401 | 129906 | 129906 | 119801 | 119801 |
| **Average Commercial Bank Interest Earning Assets** | $| 3044348 | $| 2959665 | $| 2869680 | $| 2251040 | $| 2187269 |
| **Commercial Bank Net Interest Margin** | 4.36% | 4.36% | 4.32% | 4.32% | 3.99% | 3.99% | 4.01% | 4.01% | 3.90% | 3.90% |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Commercial Bank Net Interest Margin** | **Six Months Ended** | **Six Months Ended** | **Six Months Ended** | **Six Months Ended** |
| (in thousands) | **June 30, 2025** | **June 30, 2025** | **June 30, 2024** | **June 30, 2024** |
| **Commercial Bank Net Interest Income** | $| 64588 | $| 41268 |
| Average Interest Earning Assets | 3138661 | 3138661 | 2280867 | 2280867 |
| &nbsp;&nbsp;Less: Average Non-Commercial Bank Interest Earning Assets | 130248 | 130248 | 118000 | 118000 |
| **Average Commercial Bank Interest Earning Assets** | $| 3008413 | $| 2162867 |
| **Commercial Bank Net Interest Margin** | 4.33% | 4.33% | 3.84% | 3.84% |

---

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Commercial Bank Portfolio Loans Receivable Yield** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** |
| (in thousands) | **June 30, 2025** | **June 30, 2025** | **March 31, 2025** | **March 31, 2025** | **December 31, 2024** | **December 31, 2024** | **September 30, 2024** | **September 30, 2024** | **June 30, 2024** | **June 30, 2024** |
| **Portfolio Loans Receivable Interest Income** | $| 60647 | $| 58453 | $| 58409 | $| 49886 | $| 48143 |
| &nbsp;&nbsp;Less: Credit Card Loan Income | 14116 | 14116 | 14148 | 14148 | 15022 | 15022 | 15137 | 15137 | 15205 | 15205 |
| **Commercial Bank Portfolio Loans Receivable Interest Income** | $| 46531 | $| 44305 | $| 43387 | $| 34749 | $| 32938 |
| Average Portfolio Loans Receivable | 2733865 | 2733865 | 2634110 | 2634110 | 2592960 | 2592960 | 2053619 | 2053619 | 1992630 | 1992630 |
| &nbsp;&nbsp;Less: Average Credit Card Loans | 121414 | 121414 | 118723 | 118723 | 120993 | 120993 | 119458 | 119458 | 111288 | 111288 |
| **Total Commercial Bank Average Portfolio Loans Receivable** | $| 2612451 | $| 2515387 | $| 2471967 | $| 1934161 | $| 1881342 |
| **Commercial Bank Portfolio Loans Receivable Yield** | 7.14% | 7.14% | 7.14% | 7.14% | 6.98% | 6.98% | 7.15% | 7.15% | 7.04% | 7.04% |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Commercial Bank Portfolio Loans Receivable Yield** | **Six Months Ended** | **Six Months Ended** | **Six Months Ended** | **Six Months Ended** |
| (in thousands) | **June 30, 2025** | **June 30, 2025** | **June 30, 2024** | **June 30, 2024** |
| **Portfolio Loans Receivable Interest Income** | $| 119100 | $| 94051 |
| &nbsp;&nbsp;Less: Credit Card Loan Income | 28264 | 28264 | 29662 | 29662 |
| **Commercial Bank Portfolio Loans Receivable Interest Income** | $| 90836 | $| 64389 |
| Average Portfolio Loans Receivable | 2684263 | 2684263 | 1960001 | 1960001 |
| &nbsp;&nbsp;Less: Average Credit Card Loans | 120076 | 120076 | 110885 | 110885 |
| **Total Commercial Bank Average Portfolio Loans Receivable** | $| 2564187 | $| 1849116 |
| **Commercial Bank Portfolio Loans Receivable Yield** | 7.14% | 7.14% | 7.00% | 7.00% |

---

------

Appendix

**Reconciliation of Non-GAAP Measures**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Pre-tax, Pre-Provision Net Revenue ("PPNR")** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** |
| (in thousands) | **June 30, 2025** | **March 31, 2025** | **December 31, 2024** | **September 30, 2024** | **June 30, 2024** |
| **Net Income** | $13136 | $13932 | $7533 | $8672 | $8205 |
| &nbsp;&nbsp;Add: Income Tax Expense | 3963 | 4365 | 3243 | 2827 | 2728 |
| &nbsp;&nbsp;Add: Provision for Credit Losses | 4081 | 2246 | 7828 | 3748 | 3417 |
| &nbsp;&nbsp;Add: Provision for Credit Losses on Unfunded Commitments |  |  | 122 | 17 | 104 |
| **Pre-tax, Pre-Provision Net Revenue ("PPNR")** | $21180 | $20543 | $18726 | $15264 | $14454 |

---

---

| | | |
|:---|:---|:---|
| **Pre-tax, Pre-Provision Net Revenue ("PPNR")** | **Six Months Ended** | **Six Months Ended** |
| (in thousands) | **June 30, 2025** | **June 30, 2024** |
| **Net Income** | $27068 | $14767 |
| &nbsp;&nbsp;Add: Income Tax Expense | 8328 | 4790 |
| &nbsp;&nbsp;Add: Provision for Credit Losses | 6327 | 6144 |
| &nbsp;&nbsp;Add: Provision for Credit Losses on Unfunded Commitments |  | 246 |
| **Pre-tax, Pre-Provision Net Revenue ("PPNR")** | $41723 | $25947 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Core PPNR** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** |
| (in thousands) | **June 30, 2025** | **March 31, 2025** | **December 31, 2024** | **September 30, 2024** | **June 30, 2024** |
| **Net Income** | $13136 | $13932 | $7533 | $8672 | $8205 |
| &nbsp;&nbsp;Add: Income Tax Expense | 3963 | 4365 | 3243 | 2827 | 2728 |
| &nbsp;&nbsp;Add: Provision for Credit Losses | 4081 | 2246 | 7828 | 3748 | 3417 |
| &nbsp;&nbsp;Add: Provision for Credit Losses on Unfunded Commitments |  |  | 122 | 17 | 104 |
| &nbsp;&nbsp;Add: Merger-Related Expenses | 1398 | 1266 | 2615 | 520 | 83 |
| &nbsp;&nbsp;Add: Non-Recurring Equity and Debt Investment Write-Down |  |  | 2620 |  |  |
| **Core PPNR** | $22578 | $21809 | $23961 | $15784 | $14537 |

---

---

| | | |
|:---|:---|:---|
| **Core PPNR** | **Six Months Ended** | **Six Months Ended** |
| (in thousands) | **June 30, 2025** | **June 30, 2024** |
| **Net Income** | $27068 | $14767 |
| &nbsp;&nbsp;Add: Income Tax Expense | 8328 | 4790 |
| &nbsp;&nbsp;Add: Provision for Credit Losses | 6327 | 6144 |
| &nbsp;&nbsp;Add: Provision for Credit Losses on Unfunded Commitments |  | 246 |
| &nbsp;&nbsp;Add: Merger-Related Expenses | 2664 | 795 |
| &nbsp;&nbsp;Add: Non-Recurring Equity and Debt Investment Write-Down |  |  |
| **Core PPNR** | $44387 | $26742 |

---

------

Appendix

**Reconciliation of Non-GAAP Measures**

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Allowance for Credit Losses to Total Portfolio Loans** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** |
| (in thousands) | **June 30, 2025** | **June 30, 2025** | **March 31, 2025** | **March 31, 2025** | **December 31, 2024** | **December 31, 2024** | **September 30, 2024** | **September 30, 2024** | **June 30, 2024** | **June 30, 2024** |
| **Allowance for Credit Losses** | $| 47447 | $| 48454 | $| 48652 | $| 31925 | $| 30832 |
| **Total Portfolio Loans** | 2739808 | 2739808 | 2678406 | 2678406 | 2630163 | 2630163 | 2107522 | 2107522 | 2021588 | 2021588 |
| **Allowance for Credit Losses to Total Portfolio Loans** | 1.73% | 1.73% | 1.81% | 1.81% | 1.85% | 1.85% | 1.51% | 1.51% | 1.53% | 1.53% |

---

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Commercial Bank Allowance for Credit Losses to Commercial Bank Portfolio Loans** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** |
| (in thousands) | **June 30, 2025** | **June 30, 2025** | **March 31, 2025** | **March 31, 2025** | **December 31, 2024** | **December 31, 2024** | **September 30, 2024** | **September 30, 2024** | **June 30, 2024** | **June 30, 2024** |
| **Allowance for Credit Losses** | $| 47447 | $| 48454 | $| 48652 | $| 31925 | $| 30832 |
| &nbsp;&nbsp;Less: Credit Card Allowance for Credit Losses | 6762 | 6762 | 5905 | 5905 | 6402 | 6402 | 7339 | 7339 | 6768 | 6768 |
| **Commercial Bank Allowance for Credit Losses** | 40685 | 40685 | 42549 | 42549 | 42250 | 42250 | 24586 | 24586 | 24064 | 24064 |
| **Total Portfolio Loans** | 2739808 | 2739808 | 2678406 | 2678406 | 2630163 | 2630163 | 2107522 | 2107522 | 2021588 | 2021588 |
| &nbsp;&nbsp;Less: Gross Credit Card Loans | 126233 | 126233 | 115991 | 115991 | 122928 | 122928 | 121718 | 121718 | 116180 | 116180 |
| **Commercial Bank Portfolio Loans** | 2613575 | 2613575 | 2562415 | 2562415 | 2507235 | 2507235 | 1985804 | 1985804 | 1905408 | 1905408 |
| **Commercial Bank Allowance for Credit Losses to Total Portfolio Loans** | 1.56% | 1.56% | 1.67% | 1.67% | 1.70% | 1.70% | 1.24% | 1.24% | 1.26% | 1.26% |

---

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Nonperforming Assets to Total Assets** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** |
| (in thousands) | **June 30, 2025** | **June 30, 2025** | **March 31, 2025** | **March 31, 2025** | **December 31, 2024** | **December 31, 2024** | **September 30, 2024** | **September 30, 2024** | **June 30, 2024** | **June 30, 2024** |
| **Total Nonperforming Assets** | $| 37505 | $| 42934 | $| 30241 | $| 15460 | $| 14053 |
| **Total Assets** | 3388662 | 3388662 | 3349805 | 3349805 | 3206911 | 3206911 | 2560788 | 2560788 | 2438583 | 2438583 |
| **Nonperforming Assets to Total Assets** | 1.11% | 1.11% | 1.28% | 1.28% | 0.94% | 0.94% | 0.60% | 0.60% | 0.58% | 0.58% |

---

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Nonperforming Loans to Total Portfolio Loans** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** |
| (in thousands) | **June 30, 2025** | **June 30, 2025** | **March 31, 2025** | **March 31, 2025** | **December 31, 2024** | **December 31, 2024** | **September 30, 2024** | **September 30, 2024** | **June 30, 2024** | **June 30, 2024** |
| **Total Nonperforming Loans** | $| 37505 | $| 42934 | $| 30241 | $| 15460 | $| 14053 |
| **Total Portfolio Loans** | 2739808 | 2739808 | 2678406 | 2678406 | 2630163 | 2630163 | 2107522 | 2107522 | 2021588 | 2021588 |
| **Nonperforming Loans to Total Portfolio Loans** | 1.37% | 1.37% | 1.60% | 1.60% | 1.15% | 1.15% | 0.73% | 0.73% | 0.70% | 0.70% |

---

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Net Charge-Offs to Average Portfolio Loans** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** |
| (in thousands) | **June 30, 2025** | **June 30, 2025** | **March 31, 2025** | **March 31, 2025** | **December 31, 2024** | **December 31, 2024** | **September 30, 2024** | **September 30, 2024** | **June 30, 2024** | **June 30, 2024** |
| **Total Net Charge-Offs** | $| 5088 | $| 2444 | $| 2427 | $| 2655 | $| 1935 |
| **Total Average Portfolio Loans** | 2733865 | 2733865 | 2634110 | 2634110 | 2592960 | 2592960 | 2053619 | 2053619 | 1992630 | 1992630 |
| **Net Charge-Offs to Average Portfolio Loans, Annualized** | 0.75% | 0.75% | 0.38% | 0.38% | 0.37% | 0.37% | 0.51% | 0.51% | 0.39% | 0.39% |

---

------

Appendix

**Reconciliation of Non-GAAP Measures**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Tangible Book Value per Share** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** |
| (in thousands, except share and per share data) | **June 30, 2025** | **March 31, 2025** | **December 31, 2024** | **September 30, 2024** | **June 30, 2024** |
| **Total Stockholders' Equity** | $380035 | $369577 | $355139 | $280111 | $267854 |
| &nbsp;&nbsp;Less: Preferred Equity |  |  |  |  |  |
| &nbsp;&nbsp;Less: Intangible Assets | 37773 | 39641 | 36943 |  |  |
| **Tangible Common Equity** | $342262 | $329936 | $318196 | $280111 | $267854 |
| Period End Shares Outstanding | 16581990 | 16657168 | 16662626 | 13917891 | 13910467 |
| **Tangible Book Value per Share** | $20.64 | $19.81 | $19.10 | $20.13 | $19.26 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Return on Average Tangible Common Equity** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** |
| (in thousands) | **June 30, 2025** | **March 31, 2025** | **December 31, 2024** | **September 30, 2024** | **June 30, 2024** |
| **Net Income** | $13136 | $13932 | $7533 | $8672 | $8205 |
| &nbsp;&nbsp;Add: Intangible Amortization, Net of Tax | 200 | 199 | 198 |  |  |
| **Net Tangible Income** | $13336 | $14131 | $7731 | $8672 | $8205 |
| **Average Equity** | 371795 | 363115 | 352537 | 274087 | 263425 |
| &nbsp;&nbsp;Less: Average Intangible Assets | 39552 | 36896 | 22890 |  |  |
| **Net Average Tangible Common Equity** | $332243 | $326219 | $329647 | $274087 | $263425 |
| **Return on Average Equity** | 14.17% | 15.56% | 8.50% | 12.59% | 12.53% |
| **Return on Average Tangible Common Equity** | 16.10% | 17.57% | 9.33% | 12.59% | 12.53% |

---

---

| | | |
|:---|:---|:---|
| **Return on Average Tangible Common Equity** | **Six Months Ended** | **Six Months Ended** |
| (in thousands) | **June 30, 2025** | **June 30, 2024** |
| **Net Income** | $27068 | $14767 |
| &nbsp;&nbsp;Add: Intangible Amortization, Net of Tax | 399 |  |
| **Net Tangible Income** | $27467 | $14767 |
| **Average Equity** | 367479 | 261159 |
| &nbsp;&nbsp;Less: Average Intangible Assets | 38232 |  |
| **Net Average Tangible Common Equity** | $329247 | $261159 |
| **Return on Average Equity** | 14.85% | 11.37% |
| **Return on Average Tangible Common Equity** | 16.82% | 11.37% |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Core Return on Average Tangible Common Equity** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** |
| (in thousands) | **June 30, 2025** | **March 31, 2025** | **December 31, 2024** | **September 30, 2024** | **June 30, 2024** |
| **Net Income, as Adjusted** | $14206 | $14896 | $15473 | $9229 | $8267 |
| &nbsp;&nbsp;Add: Intangible Amortization, Net of Tax | 200 | 199 | 198 |  |  |
| **Core Net Tangible Income** | $14406 | $15095 | $15671 | $9229 | $8267 |
| **Core Return on Average Tangible Common Equity** | 17.39% | 18.77% | 18.91% | 13.40% | 12.62% |

---

---

| | | |
|:---|:---|:---|
| **Core Return on Average Tangible Common Equity** | **Six Months Ended** | **Six Months Ended** |
| (in thousands) | **June 30, 2025** | **June 30, 2024** |
| **Net Income, as Adjusted** | $29102 | $15367 |
| &nbsp;&nbsp;Add: Intangible Amortization, Net of Tax | 399 |  |
| **Core Net Tangible Income** | $29501 | $15367 |
| **Core Return on Average Tangible Common Equity** | 18.07% | 11.83% |

---

------

**ABOUT CAPITAL BANCORP, INC.**

Capital Bancorp, Inc., Rockville, Maryland is a registered bank holding company incorporated under the laws of Maryland. Capital Bancorp has been providing financial services since 1999 and now operates bank branches in four locations in the Washington, D.C., Baltimore, other Maryland markets, one bank branch in Fort Lauderdale, Florida, one bank branch in Chicago, Illinois and one bank branch in Raleigh, North Carolina. Capital Bancorp had assets of approximately $3.4 billion at June 30, 2025 and its common stock is traded in the NASDAQ Global Market under the symbol "CBNK." More information can be found at the Company's website www.CapitalBankMD.com under its investor relations page.

**FORWARD-LOOKING STATEMENTS**

This earnings release contains forward-looking statements. These forward-looking statements reflect our current views with respect to, among other things, future events and our financial performance. Any statements about our management's expectations, beliefs, plans, predictions, forecasts, objectives, assumptions or future events or performance are not historical facts and may be forward-looking. These statements are often, but not always, made through the use of words or phrases such as "anticipate," "believes," "can," "could," "may," "predicts," "potential," "should," "will," "estimate," "plans," "projects," "continuing," "ongoing," "expects," "optimistic," "intends" and similar words or phrases. Any or all of the forward-looking statements in this earnings release may turn out to be inaccurate. The inclusion of forward-looking information in this earnings release should not be regarded as a representation by us or any other person that the future plans, estimates or expectations contemplated by us will be achieved. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Our actual results could differ materially from those anticipated in such forward-looking statements. Accordingly, we caution you that any such forward-looking statements are not a guarantee of future performance and that actual results may prove to be materially different from the results expressed or implied by the forward-looking statements due to a number of factors. For details on some of the factors that could affect these expectations, see risk factors and other cautionary language included in the Company's Annual Report on Form 10-K and other periodic and current reports filed with the Securities and Exchange Commission.

While there is no assurance that any list of risks and uncertainties or risk factors is complete, below are certain factors which could cause actual results to differ materially from those contained or implied in the forward-looking statements: the strength of the United States ("U.S.") economy in general and the strength of the local economies in

which we conduct operations; geopolitical concerns, including the ongoing wars in Ukraine and in the Middle East; uncertainty in U.S. fiscal and monetary policy, including the interest rate policies of the Board of Governors of the Federal Reserve System; inflation/deflation, interest rate, market, and monetary fluctuations; volatility and disruptions in global capital and credit markets; tariffs, trade policies, and related tensions, which could impact our clients, specific industry sectors and/or broader economic conditions and financial markets; competitive pressures on product pricing and services; success, impact, and timing of our business strategies, including market acceptance of any new products or services; the impact of changes in financial services policies, laws, and regulations, including those concerning taxes, banking, securities, and insurance, and the application thereof by regulatory bodies; cybersecurity threats and the cost of defending against them, including the costs of compliance with potential legislation to combat cybersecurity at a state, national, or global level; climate change, and other catastrophic disasters; the effect of the IFH acquisition or any other acquisitions we have made or may make, including, without limitation, the failure to achieve the expected revenue growth and/or expense savings from such acquisitions, and/or the failure to effectively integrate an acquisition target into our operations; and other factors that may affect our future results.

These forward-looking statements are made as of the date of this communication, and the Company does not intend, and assumes no obligation, to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events or circumstances, except as required by law.

FINANCIAL CONTACT: Dominic C. Canuso (301) 468-8848 x1403

MEDIA CONTACT: Ed Barry (240) 283-1912

WEB SITE: www.CapitalBankMD.com

## Exhibit 99.2

![](investoroverview06302025001.jpg)

2Q 2025 Investor Overview

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![](investoroverview06302025002.jpg)

Forward Looking Statements The statements contained in this presentation that are not historical facts are forward-looking statements based on management's current expectations and beliefs concerning future developments and their potential effects on Capital Bancorp, Inc. (the "Company" or "Capital") including, without limitation, plans, strategies and goals, and statements about the Company's expectations regarding revenue and asset growth, financial performance and profitability, loan and deposit growth, yields and returns, loan diversification and credit management, and shareholder value creation. These statements are often, but not always, made through the use of words or phrases such as "outlook," "believes," "expects," "potential," "continues," "may," "will," "could," "should," "seeks," "projects", "can", "ongoing", "approximately," "predicts," "intends," "plans," "estimates," "anticipates" or the negative version of those words or other comparable words. Such statements involve inherent risks and uncertainties, many of which are difficult to predict and are generally beyond the control of the Company. The inclusion of or reference to forward-looking information in this presentation should not be regarded as a representation by Capital or any other person that the future plans, estimates or expectations contemplated by the Company will be achieved. Any or all of the forward-looking statements in (or conveyed orally regarding) this presentation may turn out to be inaccurate. Accordingly, you are cautioned not to place undue reliance on forward-looking statements and that any such forward- looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable as of the date made, actual results may prove to be materially different from the expected results expressed or implied by such forward-looking statements. While there is no assurance that any list of risks and uncertainties or risk factors is complete, below are certain factors which could cause actual results to differ materially from those contained or implied in the forward-looking statements: changes in general economic, political, or industry conditions; geopolitical concerns, including the ongoing wars in Ukraine and in the Middle East; uncertainty in U.S. fiscal and monetary policy, including the interest rate policies of the Board of Governors of the Federal Reserve System; inflation/deflation, interest rate, market, and monetary fluctuations; volatility and disruptions in global capital and credit markets; competitive pressures on product pricing and services; success, impact, and timing of our business strategies, including market acceptance of any new products or services; the impact of changes in financial services policies, laws, and regulations, including those concerning taxes, banking, securities, and insurance, and the application thereof by regulatory bodies; cybersecurity threats and the cost of defending against them, including the costs of compliance with potential legislation to combat cybersecurity at a state, national, or global level; climate change, including any enhanced regulatory, compliance, credit and reputational risks and costs; the expected cost savings, synergies and other financial benefits from the acquisition of IFHI or any other acquisition the Company has made or may make might not be realized within the expected time frames or at all; the effect of acquisitions we have made or may make, including, without limitation, the failure to achieve the expected revenue growth and/or expense savings from such acquisitions, and/or the failure to effectively integrate an acquisition target into our operations; and other factors that may affect our future results. Except as otherwise indicated, this presentation speaks as of the date hereof. The delivery of this presentation shall not, under any circumstances, create any implication that there has been no change in the affairs of Capital after the date hereof. Certain of the information contained herein may be derived from information provided by industry sources. The Company believes that such information is accurate and that the sources from which it has been obtained are reliable. Capital cannot guarantee the accuracy of such information, however, and has not independently verified such information. While Capital is not aware of any misstatements regarding the industry data presented in this presentation, Capital's estimates involve risks and uncertainties and are subject to change based on various factors. Similarly, Capital believes that its internal research is reliable, even though such research has not been verified by independent sources. Non-U.S. GAAP Financial Measures This presentation may include certain non–U.S. generally accepted accounting principles ("GAAP") financial measures intended to supplement, not substitute for, comparable GAAP measures. These non-GAAP financial measures should not be considered in isolation, and should be considered as additions to, and not substitutes for or superior to, measures of financial performance prepared in accordance with GAAP. There are a number of limitations related to the use of these non-GAAP financial measures versus their nearest GAAP equivalents. For example, other companies may calculate non-GAAP financial measures differently or may use other measures to evaluate their performance, all of which could reduce the usefulness of the Company's non-GAAP financial measures as tools for comparison. If included in this presentation, see the Appendix to this presentation for a reconciliation of the non-GAAP financial measures used in (or conveyed orally during) this presentation to their most directly comparable GAAP financial measures. Core Financial Measures As used in this presentation, core net income, core fee revenue, core ROA, core ROE, ROTCE, core ROTCE, Commercial Bank NIM, Commercial Bank Loan Yield, Commercial Bank ACL Coverage Ratio, and Tangible Book Value are non-GAAP financial measures. These non-GAAP financial metrics exclude merger-related and other certain one-time non-reoccurring pre-tax adjustments and tax impacts of such adjustments. Reconciliations of these and other non-GAAP measures to their comparable GAAP measures are set forth in the Appendix to this presentation. 2

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![](investoroverview06302025003.jpg)

(in millions except per share data) Balance Sheet 2Q25 1Q25 Annualized 2Q24 YoY Assets $3,389 $3,350 4.7% $2,439 39.0% Portfolio Loans 2,740 2,678 9.3% 2,022 35.5% Deposits 2,941 2,891 6.9% 2,100 40.0% Quarterly Financial Performance(1) 2Q25 1Q25 QoQ 2Q24 YoY Earnings per Share, Diluted $0.78 $0.82 (4.9)% $0.59 32.2% Core Earnings per Share, Diluted(2) $0.85 $0.88 (3.4)% $0.59 44.1% Book Value per Share $22.92 $22.19 3.3% $19.26 19.0% Tangible Book Value per Share(2) $20.64 $19.81 4.2% $19.26 7.2% Return on Average Assets ("ROA") 1.60% 1.75% -15 bps 1.40% 20 bps Core ROA(2) 1.73% 1.87% -14 bps 1.41% 32 bps Return on Average Tangible Common Equity ("ROTCE")(2) 16.10% 17.57% -147 bps 12.53% 357 bps Core ROTCE(2) 17.39% 18.77% -138 bps 12.62% 477 bps Efficiency Ratio 65.1% 64.9% 20 bps 67.1% -200 bps Core Efficiency Ratio(2) 62.8% 62.8% 0 bps 66.9% -410 bps Net Interest Margin 6.04% 6.05% -1 bps 6.46% -42 bps Commercial Bank Net Interest Margin(2) 4.36% 4.32% 4 bps 3.90% 46 bps Capital Bancorp, Inc. (NASDAQ-CBNK) Financial Highlights Corporate Timeline Founded as Harbor Capital National Bank Recapitalized by investor group led by Stephen Ashman Acquired three failed institutions including OpenSky® CEO Ed Barry joined Capital Bank Assets exceed $1 billion Successful IPO and inclusion in R2000 OpenSky® accounts exceed 168,000 1999 2002 2011 2012 2017 2018 Originated $371 million SBA-PPP loans (2020 & 2021) 2020 Assets exceed $2 billion OpenSky® accounts exceed 700,000 Dividend initiated 2021 (1) Performance metrics are annualized throughout this presentation (2) Refer to Appendix for reconciliation of non-GAAP measures Assets exceed $3.2 billion Capital Bank completes acquisition of IFH 2024 3

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78% 16% 7% $2.9Bn Q2 '25 Servicing Portfolio $4.7mm Q2 '25 Revenue3 • Loan service provider that offers community banks and credit unions with a comprehensive outsourced U.S. Small Business Association ("SBA") 7(a) and U.S. Department of Agriculture ("USDA") lending platform • Servicing portfolio complements USDA / SBA gain on sale revenue within commercial bank • Poised to benefit from higher industry-wide SBA volumes Q2 2025 5 CBNK Business Model is Uniquely Diversified Source: Company Documents. Note: CBNK financial metrics as of June 30, 2025 unless otherwise stated. 1 Volume in FY 2021 was approximately $1.0 billion and volume in FY 2022 was approximately $300 million. 2 Credit card loans are presented net of reserve for interest and fees. 3 Includes $1.1 million of Capital Bank related servicing fees 4 Excludes $1.8 million loss in Capital Bank Home Loans, $1.4 of net income in Church Street Capital and $0.2mm of other income. 5 Excludes $678k of net loss in Capital Bank Home Loans. Commercial Bank OpenSky Windsor Advantage Commercial Banking Government Guaranty Lending (GGL) • Nationwide GGL business with niche expertise in Solar and Renewable Energy • Strong C&I pipeline with proven ability to originate $150+ million per year of loans $2.6Bn Portfolio Gross Loans, ex. OpenSky $2.5Bn Deposits • Focused on our core markets and filling out our national deposit vertical strategy • High value-added services and targeted vertical expertise generates above-average risk-adjusted loan yields • The Commercial Banking division operates out of six full-service banking locations, four of which are in the DMV Metropolitan Statistical Area ("MSA"), and its locations in Ft. Lauderdale, Florida in the Miami Metro Area MSA, and in Chicago, Illinois in the Chicago MSA $35.6mm Q2 '25 Revenue Fully-Allocated Illustrative Net Income Contribution 4 $80mm Q2 '25 Volume1 $1.6mm Q2 '25 Revenue • Nationwide lender, primarily mortgage banking; Certain retained loans within DMV area • Gain on sale margin returning to normalized levels; Well-positioned for stabilization or decline in rates • Expense management delivering profitability on a marginal basis while maintaining robust origination capabilities • Natural hedge against modest structural asset sensitivity of the balance sheet $169mm Deposits $131mm Loans, net2 • Nationwide, secured credit card to help under-banked customers (re)establish their credit with opportunities for graduation into unsecured credit • Building capabilities to cross-sell products and services as card-holders progress on their customer journeys • Extend unsecured to graduating customers and starting to build capabilities around a straight to unsecured product $18.8mm Q2 '25 Revenue Capital Bank Home Loans OpenSky Windsor Advantage FY 2023 4

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Financial Information

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Financial Performance Highlights $ in th ou sa nd s 6 (1) Refer to Appendix for reconciliation of non-GAAP measures. (2) Total net interest income includes negligible net interest income from CBHL Net Interest Income and Net Interest Margin Loan Yield and Deposit Rate Trends Cumulative Downcycle Betas (3) Deposit betas are cumulative for the current cycle easing rate cycle (since August 2024); Interest-bearing Deposit Betas include Brokered CD's (4) Loan yields and deposit rate trends include net purchase accounting adjustments

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Core Fee Revenue $ in th ou sa nd s 7 (1) Other includes a $2.6mm non-recurring legacy IFH equity and debt investment write-down during 4Q24, excluded in core revenue. $ in th ou sa nd s OpenSky 31% CBHL 13% Commercial Bank 3% GGL 17% Windsor Advantage 36% YTD June 30, 2025 Core Fee Revenue $25.7MM

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Noninterest Expense $13,272 $13,345 $16,513 $18,067 $18,460 $1,864 $1,791 $2,976 $2,910 $2,995 $1,769 $1,980 $2,150 $2,112 $2,422 $6,788 $6,930 $7,210 $7,112 $7,520 $2,072 $1,223 $1,032 $1,779 $1,371 $3,645 $3,936 $5,018 $4,807 $5,406 $83 $520 $2,615 $1,266 $1,398 $29,493 $29,725 $37,514 $38,053 $39,572 66.9% 64.9% 59.3% 62.8% 62.8% 2Q24 3Q24 4Q24 1Q25 2Q25 Salaries and employee benefits Occupancy and equipment Professional fees Data processing Advertising Other expense Merger-related expenses Core Efficiency Ratio $ in th ou sa nd s 8 Note: Other expense includes loan processing expense, outside service providers expense, regulatory expense, office expense and other operational losses Refer to Appendix for reconciliation of Core, non-GAAP measures.

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1.40% 1.42% 0.96% 1.75% 1.60% 1.41% 1.51% 1.97% 1.87% 1.73% 2Q24 3Q24 4Q24 1Q25 2Q25 ROA ROA Core ROA Profitability(1) 9 12.53% 12.59% 8.50% 15.56% 14.17% 12.62% 13.40% 17.46% 16.64% 15.33% 2Q24 3Q24 4Q24 1Q25 2Q25 Return on Average Equity "ROE" ROE Core ROE 12.53% 12.59% 9.33% 17.57% 16.10% 12.62% 13.40% 18.91% 18.77% 17.39% 2Q24 3Q24 4Q24 1Q25 2Q25 ROTCE ROTCE Core ROTCE $0.59 $0.62 $0.45 $0.82 $0.78 $0.59 $0.66 $0.92 $0.88 $0.85 2Q24 3Q24 4Q24 1Q25 2Q25 Earnings Per Share, Diluted EPS Core EPS (1) Annualized Note: Refer to Appendix for reconciliation of Core, non-GAAP measures.

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Balance Sheet Composition Cash & Cash Equivalents 8% Portfolio Loans 81% AFS Securities Portfolio 7% Other Assets 4% Asset Composition Owner Occupied Commercial Real Estate 16% Non Owner- Occupied Commercial Real Estate 18% Residential Real Estate 26% Construction Real Estate 12%Other(1) 1% Credit Card 5% Commercial and Industrial 22% Portfolio Loan Composition 2Q25 Total Loans: $2.74B 2Q25 Total Assets: $3.39B Commentary • Gross loan growth of $61.4 million, or 9.2% (annualized), during 2Q25. • Compared to March 31, 2025, commercial real estate loans increased $26.7 million, residential real estate loans increased $17.1 million, OpenSky loans increased $12.3 million and lender finance loans increased $9.3 million. • Commercial and industrial loans, and owner-occupied CRE loans totaled 38% of total portfolio loans at June 30, 2025 and March 31, 2025 compared to 28% at June 30, 2024. • Average Portfolio Loans increased $99.8 million, or 15.2% (annualized), from the first quarter 2025. 10 (1) Other is comprised of lender finance of $32.5 million, business equity lines of credit of $2.9 million, other consumer loans of $2.7 million and deferred origination fees, net of $8.3 million. Note: Portfolio loans are presented net of deferred fees and costs of $8.3 million. Credit Card loans are presented net of reserve for interest and fees. C&I + OO-CRE represents 38% of total Portfolio Loans

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Composition of Deposits Noninterest-bearing 29% Money Markets 33% Customer Time Deposits 18% Brokered Time Deposits 9% Interest-bearing Demand 11%Savings <1% 2Q25 Total Deposits: $2.94B Commentary • Deposits growth of $49.4 million, or 6.9% (annualized) for 2Q25. • Average Portfolio loans-to-deposit ratio of 96.2%. • Interest bearing deposit costs decreased 8bps to 3.29% from 3.37% in the prior quarter and total deposit costs decreased 6bps to 2.36% from 2.42% in the prior quarter. • Transaction accounts (noninterest-bearing and interest-bearing demand) represent 39% of overall deposit funding at June 30, 2025. • Insured and protected deposits were approximately $2.1 billion as of June 30, 2025 representing 69.9% of the Company's deposit portfolio. 11 (1) Annualized

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Investment Portfolio and Liquidity Investment Securities Portfolio • Classified as available for sale with a fair market value of $229 million, or 7% of total assets, with an effective duration of 2.7 years. • U.S. Treasuries represent 59% of the overall investment portfolio. • The accumulated other comprehensive loss on the investment securities portfolio of $8.1 million represents 2.1% of total stockholders' equity and $0.49 of TBVPS. • The Company does not have a held to maturity investment securities portfolio. 12 High Quality, Low Risk Investment Portfolio Sources of Liquidity at June 30, 2025: • $751 million of collateralized lines of credit include: • $628 million of available borrowing capacity from the FHLB. • $123 million of available borrowing capacity from the Federal Reserve Bank of Richmond's discount window. • Available lines of credit with other correspondent banks totaled $76 million. • Unpledged investment securities available as collateral for potential additional borrowings totaled $8 million. Significant Liquidity Capacity $ in m illi on s

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0.39% 0.51% 0.37% 0.38% 0.75% 2Q24 3Q24 4Q24 1Q25 2Q25 Annualized Net Charge-Offs / Average Portfolio Loans(1) 0.70% 0.73% 1.15% 1.60% 1.37% 2Q24 3Q24 4Q24 1Q25 2Q25 Non-performing Loans / Total Portfolio Loans(1) Credit Metrics 0.58% 0.60% 0.94% 1.28% 1.11% 2Q24 3Q24 4Q24 1Q25 2Q25 Non-performing Assets / Total Assets 13 1.53% 1.51% 1.85% 1.81% 1.73% 1.26% 1.24% 1.70% 1.67% 1.56% 2Q24 3Q24 4Q24 1Q25 2Q25 Allowance for Credit Losses / Total Portfolio Loans(1) ACL Coverage Ratio Commercial Bank ACL Coverage Ratio (1) Refer to Appendix for reconciliation of non-GAAP measures.

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Robust Capital Ratios 13.25% 12.50% 11.54% 11.67% 11.87% 2Q24 3Q24 4Q24 1Q25 2Q25 Bank Tier-1 Risk Based Tier-1 Risk Based 8.0% Well-Capitalized Threshold 14 10.98% 10.94% 11.07% 9.94% 10.22% 9.53% 9.12% 9.31% 8.66% 8.84% 2Q24 3Q24 4Q24 1Q25 2Q25 Tangible Common Equity Holding Company Tangible Common Equity Capital Bank Tangible Common Equity Note: Ratios presented are for Capital Bank unless otherwise noted 14.51% 13.76% 12.79% 12.93% 13.13% 2Q24 3Q24 4Q24 1Q25 2Q25 Bank Total Risk Based Total Risk Based 10.0% Well-Capitalized Threshold 10.36% 9.84% 9.17% 9.27% 9.39% 2Q24 3Q24 4Q24 1Q25 2Q25 Bank Tier-1 Leverage Ratio Tier-1 Leverage Ratio 5.0% Well-Capitalized Threshold

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% Change CBNK 183% KBW NASDAQ Regional Banking Index 7% Selected Banks2 Median 9% 58.48% (60%) (40%) (20%) 0% 20% 40% 60% 80% 100% 120% 140% 160% 180% Share Appreciation Outperforms Industry Source: S&P Global Market Intelligence; FactSet. Note: Market data as of 7/23/2025. 1 CBNK IPO price of $12.50 used as starting price for price change calculation. 2 Select banks with assets between $1.5 billion and $5.0 billion in the Mid-Atlantic (North of Richmond) and New England Region. (ACNB, BCBP, BPRN, BWFG, FRBA, FRST, FVCB, HNVR, JMSB, MNSB, MRBK, MVBF, NBN, PKBK, UNTY). 15 Share Price Change Since CBNK IPO on 9/26/20181TBVPS + Dividend Growth Since 2018Q3 80%+ Outperformance vs. both groups 170%+ Outperformance vs. both groups CAGR % Change CBNK 15.8% 170% KBW NASDAQ Regional Banking Index 9.8% 88% Selected Banks2 Median 8.7% 76% 0% 20% 40% 60% 80% 100% 120% 140% 160% 180%

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Dominic Canuso Chief Financial Officer (301) 468-8848 x1403 Ed Barry Chief Executive Officer (240) 283-1912 NASDAQ: CBNK

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Non-U.S. GAAP Financial Measures

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Tangible Book Value Per Share (in thousands, except per share amount) June 30, 2025 March 31, 2025 June 30, 2024 Total Stockholders' Equity 380,035$369,577$267,854$ Less: Preferred equity - - - Less: Intangible assets 37,773 39,641 - Tangible Common Equity 342,262$329,936$267,854$ Period End Shares Outstanding 16,581,990 16,657,168 13,910,467 Tangible Book Value Per Share 20.64$19.81$19.26$ Commercial Bank Net Interest Margin(1) (in thousands) June 30, 2025 March 31, 2025 June 30, 2024 Commercial Bank Net Interest Income 33,073$31,515$21,223$ Average Interest Earning Assets 3,176,544 3,087,943 2,307,070 Less: Average Non-Commercial Bank Interest Earning Assets 132,196 128,278 119,801 Average Commercial Bank Interest Earning Assets 3,044,348$2,959,665$2,187,269$ Commercial Bank Net Interest Margin(1) 4.36% 4.32% 3.90% (1) Annualized Quarters Ended Quarters Ended Reconciliation of Non-GAAP Information 18

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Reconciliation of Non-GAAP Information 19

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Reconciliation of Non-GAAP Information 20

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Reconciliation of Non-GAAP Information 21

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