Document:

EX-10.11

 Exhibit 10.11 
 SECURITIES PURCHASE AGREEMENT 
 This Securities Purchase Agreement (this
“Agreement”) is dated as of January 27, 2011, by and among First NBC Bank Holding Company, a Louisiana corporation (the “Company”), and Commerce Street Financial Partners, LP (the “Purchaser”).

 RECITALS 
 A. The authorized capital stock of the Company consists of 20,000,000 shares of common stock, $1.00 par value per share (“Common Stock”), of which 9,617,224 shares are issued and
outstanding, and 10,000,000 shares of preferred stock, no par value per share, of which 18,728 shares are issued and outstanding. 
 B. Each of the Company and the Purchaser is executing and delivering this Agreement in reliance upon the exemption from securities registration afforded by Section 4(2) of the Securities Act of 1933,
as amended (the “Securities Act”), and Rule 506 of Regulation D (“Regulation D”) as promulgated by the United States Securities and Exchange Commission (the “Commission”) under the
Securities Act (the “Private Placement”). 
 C. Purchaser wishes to purchase, and the Company wishes to sell,
upon the terms and conditions stated in this Agreement, 533,333 shares of Common Stock (collectively referred to herein as the “Common Shares”). 
 D. The Company has engaged Monroe Securities, Inc. as its exclusive placement agent (the “Placement Agent”) for the Private Placement. 

NOW, THEREFORE, IN CONSIDERATION of the mutual covenants contained in this Agreement, and for other good and valuable consideration, the
receipt and adequacy of which are hereby acknowledged, the Company and the Purchaser hereby agree as follows: 
 ARTICLE I

 DEFINITIONS 
 1.1 Definitions. In addition to the terms defined elsewhere in this Agreement, for all purposes of this Agreement, the following terms shall have the meanings indicated in this Section 1.1:

 “Action” means any inquiry, notice of violation or Proceeding pending or, to the Company’s Knowledge,
threatened in writing against the Company, any Subsidiary or any of their respective properties or any officer, director or employee of the Company or any Subsidiary acting in his or her capacity as an officer, director or employee before or by any
federal, state, county, local or foreign court, arbitrator, governmental or administrative agency, regulatory authority, stock market, stock exchange or trading facility. 
 “Affiliate” means, with respect to any Person, any other Person that, directly or indirectly through one or more intermediaries, Controls, is controlled by or is under common control with
such Person, as such terms are used in and construed under Rule 405 under the Securities Act. 

 “Agency” has the meaning set forth in Section 3.1(ll). 

“Agreement” shall have the meaning ascribed to such term in the Preamble. 

“Articles of Incorporation” means the Articles of Incorporation of the Company and all amendments and certificates of
determination thereto, as the same may be amended from time to time. 
 “Audited Financial Statements” has the
meaning set forth in Section 3.1(i). 
 “Bank” means First NBC Bank, a Louisiana state bank and
wholly-owned Subsidiary of the Company. 
 “Bank Regulatory Authorities” has the meaning set forth in
Section 3.1(b)(ii). 
 “BHC Act” has the meaning set forth in Section 3.1(b)(ii). 

“BHC Act Control” has the meaning set forth in Section 3.1(rr). 

“Board” has the meaning set forth in Section 2.2(a)(iv). 

“Business Day” means a day, other than a Saturday or Sunday, on which banks in the City of New Orleans, Louisiana are
open for the general transaction of business. 
 “Call Reports” has the meaning set forth in
Section 3.1(h). 
 “CIBC Act” means the Change in Bank Control Act. 

“Closing” means the closing of the purchase and sale of the Common Shares pursuant to this Agreement. 

“Closing Date” means the Business Day when all of the conditions set forth in Sections 2.1, 2.2, 5.1 and 5.2 hereof are
satisfied, or such other date as the parties may agree. 
 “Code” means the Internal Revenue Code of 1986, as
amended, including the regulations and published interpretations thereunder. 
 “Commission” has the meaning
set forth in the Recitals. 
 “Common Shares” has the meaning set forth in the Recitals. 

“Common Stock” has the meaning set forth in the Recitals, and also includes any securities into which the Common Stock
may hereafter be reclassified or changed. 
 “Company Counsel” means Fenimore, Kay, Harrison & Ford
LLP. 
 “Company Deliverables” has the meaning set forth in Section 2.2(a). 

“Company Reports” has the meaning set forth in Section 3.1(h). 

  
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 “Company’s Knowledge” means, with respect to any statement made to the
knowledge of the Company, that the statement is based upon the actual knowledge of the executive officers of the Company having responsibility for the matter or matters that are the subject of the statement after reasonable investigation.

 “Confidential Information” means information provided to the Purchaser by the Company or the Bank or their
Representatives, including, without limitation, the information provided to the Purchaser pursuant to Section 4.6 hereof, except that “Confidential Information” does not include any information that (i) was publicly available
prior to the date of this Agreement or hereafter becomes publicly available without any violation of this Agreement on the part of the Purchaser or any of its Representatives, (ii) was available to the Purchaser or its Representatives on a
non-confidential basis prior to its disclosure to the Purchaser or its Representatives by the Company, the Bank or their Representatives or (iii) becomes available to the Purchaser from a person other than the Company, the Bank or their
Representatives who is not, to the best of the Purchaser’s knowledge, subject to any legally binding obligation to keep such information confidential. 
 “Control” (including the terms “controlling”, “controlled by” or “under common control with”) means the possession, direct or indirect, of the power to
direct or cause the direction of the management and policies of a Person, whether through the ownership of voting securities, by contract or otherwise. 
 “DTC” means The Depository Trust Company. 

“Environmental Laws” has the meaning set forth in Section 3.1(l). 

“ERISA” has the meaning set forth in Section 3.1(nn). 

“Exchange Act” means the Securities Exchange Act of 1934, as amended, or any successor statute, and the rules and
regulations promulgated thereunder. 
 “FDIC” has the meaning set forth in Section 3.1(b)(ii). 

“Federal Reserve” has the meaning set forth in Section 3.1(b)(ii). 

“Financial Statements” has the meaning set forth in Section 3.1(i). 

“GAAP” means U.S. generally accepted accounting principles, as applied by the Company. 

“Indemnified Person” has the meaning set forth in Section 4.8(a). 

“Insurer” has the meaning set forth in Section 3.1(ll). 

“Intellectual Property” has the meaning set forth in Section 3.1(r). 

“Lien” means any lien, charge, claim, encumbrance, security interest, right of first refusal, preemptive right or other
restriction of any kind. 

  
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 “Loan Investor” has the meaning set forth in Section 3.1(ll).

 “Material Adverse Effect” means any of (i) a material and adverse effect on the legality, validity or
enforceability of this Agreement, (ii) a material and adverse effect on the results of operations, assets, properties, business, condition (financial or otherwise) or prospects of the Company and the Subsidiaries, taken as a whole, or
(iii) any adverse impairment to the Company’s ability to perform in any material respect on a timely basis its obligations under this Agreement. 
 “Material Contract” means any contract of the Company that is material to the financial condition or operations of the Company. 

“Material Permits” has the meaning set forth in Section 3.1(p). 

“Money Laundering Laws” has the meaning set forth in Section 3.1(ff). 

“Louisiana Courts” means the courts of the State of Louisiana and the United States District Courts located in the State
of Louisiana. 
 “OFAC” has the meaning set forth in Section 3.1(ee). 

“OFI” has the meaning set forth in Section 3.1(b)(ii). 

“Outside Date” means the thirtieth day following the date of this Agreement; provided that if such day is not a Business
Day, the first day following such day that is a Business Day. 
 “Person” means an individual, corporation,
partnership, limited liability company, trust, business trust, association, joint stock company, joint venture, sole proprietorship, unincorporated organization, governmental authority or any other form of entity not specifically listed herein.

 “Placement Agent” has the meaning set forth in the Recitals. 

“Private Placement” has the meaning set forth in the Recitals. 

“Proceeding” means an action, claim, suit, investigation or proceeding (including, without limitation, an investigation
or partial proceeding, such as a deposition), whether commenced or threatened. 
 “Purchase Price” means $12.00
per Common Share. 
 “Purchaser Deliverables” has the meaning set forth in Section 2.2(b). 

“Regulation D” has the meaning set forth in the Recitals. 

“Regulatory Agreement” has the meaning set forth in Section 3.1(jj). 

  
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 “Representatives” of any Person means the Affiliates, officers, directors,
employees, attorneys, accountants, financial advisors and other agents and other representatives of such Person. 

“Required Approvals” has the meaning set forth in Section 3.1(e). 

“Rule 144” means Rule 144 promulgated by the Commission pursuant to the Securities Act, as such Rule may be
amended from time to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same effect as such Rule. 
 “Securities Act” means the Securities Act of 1933, as amended. 

“Stock Certificates” has the meaning set forth in Section 2.2(a)(ii). 

“Subscription Amount” means with respect to the Purchaser, the aggregate amount to be paid for the Common Shares
purchased hereunder as indicated on the Purchaser’s signature page to this Agreement next to the heading “Aggregate Purchase Price (Subscription Amount).” 
 “Subsidiary” means any entity in which the Company, directly or indirectly, owns sufficient capital stock or holds a sufficient equity or similar interest such that it is consolidated
with the Company in the financial statements of the Company. 
 “Transfer Agent” means First NBC Bank, or any
successor transfer agent for the Company. 
 “Unaudited Financial Statements” has the meaning set forth in
Section 3.1(i). 
 ARTICLE II 
 PURCHASE AND SALE 
 2.1 Closing. 

(a) Purchase of Common Shares. Subject to the terms and conditions set forth in this Agreement, at the Closing, the Company shall
issue and sell to the Purchaser, and the Purchaser shall purchase from the Company, the number of Common Shares set forth below the Purchaser’s name on the signature page of this Agreement at a per Common Share price equal to the Purchase
Price. 
 (b) Closing. The Closing of the purchase and sale of the Common Shares shall take place at the offices of
Fenimore, Kay, Harrison & Ford LLP, on the Closing Date or at such other locations or remotely by facsimile transmission or other electronic means as the parties may mutually agree. 

(c) Form of Payment. Unless otherwise agreed to by the Company and the Purchaser, on the Closing Date, (1) the Company shall
deliver to the Purchaser one or more stock certificates, evidencing the number of Common Shares set forth on the Purchaser’s signature page to this Agreement and (2) upon receipt thereof, the Purchaser shall wire its Subscription Amount,
in United States dollars and in immediately available funds, in accordance with the Company’s written wire transfer instructions. 

  
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 2.2 Closing Deliveries. 

(a) On or prior to the Closing, the Company shall issue, deliver or cause to be delivered to the Purchaser the following (the
“Company Deliverables”): 
 (i) this Agreement, duly executed by the Company; 

(ii) one or more stock certificates, evidencing the Common Shares subscribed for by Purchaser hereunder, registered in the
name of the Purchaser or as otherwise set forth on the Purchaser’s Stock Certificate Questionnaire included as Exhibit A-2 hereto (the “Stock Certificates”); 

(iii) a legal opinion of Company Counsel, dated as of the Closing Date and in the form attached hereto as
Exhibit B, executed by such counsel and addressed to the Purchaser; 
 (iv) a certificate of the
Secretary of the Company, in the form attached hereto as Exhibit C, dated as of the Closing Date, (a) certifying the resolutions adopted by the Board of Directors of the Company (the “Board”) or a duly authorized
committee thereof approving the transactions contemplated by this Agreement, including the issuance of the Common Shares, (b) certifying the current versions of the Articles of Incorporation and Bylaws of the Company and (c) certifying as
to the signatures and authority of persons signing this Agreement and related documents on behalf of the Company; 
 (v) a certificate of the Chief Executive Officer of the Company, in the form attached hereto as Exhibit D, dated as of the Closing Date, certifying to the fulfillment of the conditions specified in
Sections 5.1(a) and 5.1(b); and 
 (vi) a Certificate of Good Standing for the Company from the Louisiana
Secretary of State as of a recent date. 
 (b) On or prior to the Closing, the Purchaser shall deliver or cause to be delivered
to the Company the following (the “Purchaser Deliverables”): 
 (i) this Agreement, duly
executed by the Purchaser; 
 (ii) the Subscription Amount, in U.S. dollars and in immediately available funds,
by wire transfer in accordance with the Company’s written instructions; and 
 (iii) a fully completed and
duly executed Accredited Investor Questionnaire and Stock Certificate Questionnaire in the forms attached hereto as Exhibits A-1 and A-2 , respectively. 

  
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 ARTICLE III 
 REPRESENTATIONS AND WARRANTIES 
 3.1 Representations and Warranties of
the Company. The Company hereby represents and warrants as of the date hereof and as of the Closing Date (except for the representations and warranties that speak as of a specific date, which shall be made as of such date), to the Purchaser
that: 
 (a) Subsidiaries. The Company has no direct or indirect Subsidiaries other than as set forth on Schedule
3.1(a). The Company owns, directly or indirectly, all of the capital stock or comparable equity interests of each Subsidiary free and clear of any and all Liens, and all the issued and outstanding shares of capital stock or comparable equity
interest of each Subsidiary are validly issued and are fully paid, non-assessable (except to the extent that stock of a Louisiana state bank may be assessable under La R.S. 6:262) and free of preemptive and similar rights to subscribe for or
purchase securities. 
 (b) Organization and Qualification; Bank Regulations. 

(i) Each of the Company and its Subsidiaries is an entity duly incorporated or otherwise organized, validly existing and
in good standing under the laws of the jurisdiction of its incorporation or organization (as applicable), with the requisite power and authority to own or lease and use its properties and assets and to carry on its business as currently conducted.
Neither the Company nor any of its Subsidiaries is in violation of any of the provisions of its respective certificate or articles of incorporation, bylaws or other organizational or charter documents. Each of the Company and its Subsidiaries is
duly qualified to conduct business and is in good standing as a foreign corporation or other entity in each jurisdiction in which the nature of the business conducted or property owned by it makes such qualification necessary, except where the
failure to be so qualified or in good standing, as the case may be, would not be expected to have a Material Adverse Effect. 
 (ii) The Company is duly registered as a bank holding company under the Bank Holding Company Act of 1956, as amended (the “BHC Act”). First NBC Bank holds the requisite authority from the
Louisiana Office of Financial Institutions (the “OFI”) to do business as a Louisiana state bank under the laws of the State of Louisiana. The Company and the Bank are in compliance, in all material respects, with all laws
administered by the Board of Governors of the Federal Reserve System (the “Federal Reserve”), the Federal Deposit Insurance Corporation (the “FDIC”), the OFI and any other federal or state bank regulatory
authorities (together with the OFI, the Federal Reserve and the FDIC, the “Bank Regulatory Authorities”) with jurisdiction over the Company and the Bank, except for any noncompliance that, individually or in the aggregate, has not
had and would not be reasonably expected to have a Material Adverse Effect. The deposit accounts of the Bank are insured up to applicable limits by the FDIC, and all premiums and assessments required to be paid in connection therewith have been paid
when due. 

  
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 (c) Authorization; Enforcement; Validity. The Company has the requisite corporate
power and authority to enter into and to consummate the transactions contemplated hereby and otherwise to carry out its obligations hereunder, including, without limitation, to issue the Common Shares in accordance with the terms hereof. The
Company’s execution and delivery of this Agreement and the consummation by it of the transactions contemplated hereby (including, but not limited to, the sale and delivery of the Common Shares) have been duly authorized by all necessary
corporate action on the part of the Company, and no further corporate action is required by the Company, its Board or its shareholders in connection therewith other than in connection with the Required Approvals. This Agreement has been duly
executed by the Company and constitutes the legal, valid and binding obligation of the Company enforceable against the Company in accordance with its terms, except (i) as such enforceability may be limited by applicable bankruptcy, insolvency,
reorganization, moratorium, liquidation or similar laws relating to, or affecting generally the enforcement of, creditors’ rights and remedies or by other equitable principles of general application, (ii) as limited by laws relating to the
availability of specific performance, injunctive relief or other equitable remedies and (iii) insofar as indemnification and contribution provisions may be limited by applicable law. There are no shareholder agreements, voting agreements,
voting trust agreements or similar agreements with respect to the Company’s capital stock to which the Company is a party or, to the Company’s Knowledge, between or among any of the Company’s shareholders. 

(d) No Conflicts. The execution, delivery and performance by the Company of this Agreement and the consummation by the Company of
the transactions contemplated hereby (including, without limitation, the issuance of the Common Shares) do not and will not (i) conflict with or violate any provisions of the Company’s or any Subsidiary’s certificate or articles of
incorporation or bylaws or otherwise result in a violation of the organizational documents of the Company or any Subsidiary, (ii) conflict with, or constitute a default (or an event that with notice or lapse of time or both would result in a
default) under, result in the creation of any Lien upon any of the properties or assets of the Company or any Subsidiary under, or give to others any rights of termination, amendment, acceleration or cancellation (with or without notice, lapse of
time or both) of, any Material Contract, or (iii) subject to receipt of the Required Approvals, conflict with or result in a violation of any law, rule, regulation, order, judgment, injunction, decree or other restriction of any court or
governmental authority to which the Company is subject (including federal and state securities laws and the rules and regulations thereunder, assuming the correctness of the representations and warranties made by the Purchaser herein, and of any
self-regulatory organization to which the Company or its securities are subject), or by which any property or asset of the Company is bound or affected, except in the case of clauses (ii) and (iii) such as would not have or reasonably be
expected to have, individually or in the aggregate, a Material Adverse Effect. 
 (e) Filings, Consents and Approvals.
Neither the Company nor any of its Subsidiaries is required to obtain any consent, waiver, authorization or order of, give any notice to, or make any filing or registration with, any court or other federal, state, local or other governmental
authority, self-regulatory organization or other Person in connection with the execution, delivery and performance by the Company of this Agreement (including, without limitation, the issuance of the Common Shares), other than (i) filings
required by applicable state securities laws and (ii) the filing of a Notice of Exempt Offering of Securities on Form D with the Commission under Regulation D of the Securities Act (collectively, the “Required
Approvals”). The Company is unaware of any facts or circumstances relating to the Company or its Subsidiaries which might prevent the Company from obtaining or effecting any of the foregoing. 

  
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 (f) Issuance of the Common Shares. The issuance of the Common Stock has been duly
authorized and the Common Shares, when issued and paid for in accordance with the terms of this Agreement, will be duly and validly issued, fully paid and non-assessable and free and clear of all Liens, other than restrictions on transfer provided
for in this Agreement or imposed by applicable securities laws, and shall not be subject to preemptive or similar rights. Assuming the accuracy of the representations and warranties of the Purchaser in this Agreement, and assuming the accuracy of
the representations and warranties of each other Person who purchased Common Stock during the past six months, the Common Shares will be issued in compliance with all applicable federal and state securities laws. 

(g) Capitalization. As of the date hereof, the authorized capital stock of the Company consists of (i) 20,000,000 shares of
Common Stock, of which as of the date hereof, 9,617,224 shares are issued and outstanding, and 215,000 shares are reserved for issuance upon the exercise of stock options, warrants or other securities that are or may become convertible into or
exercisable or exchangeable for shares of capital stock of the Company, and (ii) 10,000,000 shares of preferred stock, no par value per share, of which 18,728 shares are issued and outstanding. All of the outstanding shares of capital stock of
the Company are duly authorized, validly issued, fully paid and non-assessable, have been issued in compliance in all material respects with all applicable federal and state securities laws, and none of such outstanding shares was issued in
violation of any preemptive rights or similar rights to subscribe for or purchase any capital stock of the Company. Except as disclosed on Schedule 3.1(g), (i) no shares of the Company’s outstanding capital stock are subject to
preemptive rights or any other similar rights; (ii) there are no outstanding options, warrants, scrip, rights to subscribe to, calls or commitments of any character whatsoever relating to, or securities or rights convertible into, or
exercisable or exchangeable for, any shares of capital stock of the Company or any Subsidiary, or contracts, commitments, understandings or arrangements by which the Company or any Subsidiary is or may become bound to issue additional shares of
capital stock of the Company or any Subsidiary or options, warrants, scrip, rights to subscribe to, calls or commitments of any character whatsoever relating to, or securities or rights convertible into, or exercisable or exchangeable for, any
shares of capital stock of the Company or any Subsidiary; (iii) there are no material outstanding debt securities, notes, credit agreements, credit facilities or other agreements, documents or instruments evidencing indebtedness of the Company
or any Subsidiary or by which the Company or any Subsidiary is bound, other than credit agreements or facilities entered into by either Bank in the ordinary course of its business; (iv) there are no agreements or arrangements under which the
Company is obligated to register the sale of any of the securities of the Company or any Subsidiary under the Securities Act; (v) there are no outstanding securities or instruments of the Company or any Subsidiary that contain any redemption or
similar provisions, and there are no contracts, commitments, understandings or arrangements by which the Company or any Subsidiary is or may become bound to redeem a security of the Company or any Subsidiary; (vi) the Company does not have any
stock appreciation rights or “phantom stock” plans or agreements or any similar plan or agreement; and (vii) neither the Company nor the Bank has any liabilities or obligations not disclosed on the Company’s Financial Statements,
which, individually or in the aggregate, will have or would reasonably be expected to have a Material Adverse Effect. There are no securities or instruments issued by or to which the Company is a party containing anti-dilution or similar provisions
that will be triggered by the issuance of the Common Shares. 

  
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 (h) Reports, Registrations and Statements. Since January 1, 2009, the Company
and the Bank have filed all material reports, registrations and statements, together with any required amendments thereto, that it was required to file with the Bank Regulatory Authorities and any other applicable foreign, federal or state
securities or banking authorities, including, without limitation, all financial statements and financial information required to be filed by it under the Federal Deposit Insurance Act and the BHC Act (such financial statements and financial
information, including the exhibits thereto and documents incorporated by reference therein, being collectively referred to herein as the “Call Reports”). All such reports and statements filed with any such regulatory body or
authority are collectively referred to herein as the “Company Reports.” All such Company Reports were filed on a timely basis or the Company or the applicable Bank, as applicable, received a valid extension of such time of filing
and has filed any such Company Reports prior to the expiration of any such extension. As of their respective dates, the Company Reports complied in all material respects with all the rules and regulations promulgated by the Bank Regulatory
Authorities and any other applicable foreign, federal or state securities or banking authorities, as the case may be. 
 (i)
Financial Statements. The audited consolidated balance sheets of the Company and its Subsidiaries as of December 31, 2008 and the related audited consolidated statements of income, shareholders’ equity and cash flows for the year
then ended (the “Audited Financial Statements”) and the unaudited consolidated balance sheets of the Company and its Subsidiaries as of December 31, 2009 and September 30, 2010 and the related unaudited consolidated
statements of income for the periods then ended (the “Unaudited Financial Statements,” and collectively with the Audited Financial Statements, the “Financial Statements”), have been delivered to Purchaser prior to
the date hereof. The Financial Statements comply in all material respects with applicable accounting requirements and the rules and regulations of the applicable government agency with respect thereto as in effect at the time of filing. Such
financial statements have been prepared in accordance with GAAP applied on a consistent basis during the periods involved, except as may be otherwise specified in such financial statements or the notes thereto and except that unaudited financial
statements may not contain all footnotes required by GAAP, and fairly present in all material respects the balance sheet of the Company and its Subsidiaries taken as a whole as of and for the dates thereof and the results of operations and cash
flows for the periods then ended, subject, in the case of unaudited statements, to normal, year-end audit adjustments, which would not be material, either individually or in the aggregate. 

(j) Tax Matters. Each of the Company and its Subsidiaries (i) has prepared and filed all foreign, federal and state income and
all other tax returns, reports and declarations required by any jurisdiction to which it is subject, (ii) has paid all taxes and other governmental assessments and charges that are material in amount, shown or determined to be due on such
returns, reports and declarations, except those being contested in good faith, with respect to which adequate reserves have been set aside on the books of the Company and (iii) has set aside on its books provisions reasonably adequate for the
payment of all taxes for periods subsequent to the periods to which such returns, reports or declarations apply, except, in the case of clauses (i) and (ii) above, where the failure to so pay or file any such tax, assessment, charge or
return would not have or reasonably be expected to have a Material Adverse Effect. 

  
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 (k) Material Changes. Since September 30, 2010, except as disclosed on
Schedule 3.1(k), (i) there have been no events, occurrences or developments that have had or would reasonably be expected to have, either individually or in the aggregate, a Material Adverse Effect, (ii) the Company has not incurred
any material liabilities (contingent or otherwise) other than (A) trade payables, accrued expenses and other liabilities incurred in the ordinary course of business consistent with past practice and (B) liabilities not required to be
reflected in the Company’s financial statements pursuant to GAAP or required to be disclosed in filings made with the Commission, (iii) the Company has not altered materially its method of accounting or the manner in which it keeps its
accounting books and records, (iv) the Company has not declared or made any dividend or distribution of cash or other property to its shareholders or purchased, redeemed or made any agreements to purchase or redeem any shares of its capital
stock, (v) the Company has not issued any equity securities to any officer, director or Affiliate, except Common Stock issued pursuant to existing Company stock option plans disclosed on Schedule 3.1(g), and (vi) there has not been
any material change or amendment to, or any waiver of any material right by the Company under, any Material Contract under which the Company or any of its Subsidiaries is bound or subject. 

(l) Environmental Matters. Neither the Company nor any Subsidiary (i) is in violation of any statute, rule, regulation,
decision or order of any governmental agency or body or any court, domestic or foreign, relating to the use, disposal or release of hazardous or toxic substances or relating to the protection or restoration of the environment or human exposure to
hazardous or toxic substances (collectively, “Environmental Laws”), (ii) owns or operates any real property contaminated with any substance that is in violation of any Environmental Laws, (iii) is liable for any off-site
disposal or contamination pursuant to any Environmental Laws, or (iv) is subject to any claim relating to any Environmental Laws; in each case, which violation, contamination, liability or claim has had or would reasonably be expected to have,
individually or in the aggregate, a Material Adverse Effect; and, to the Company’s Knowledge, there is no pending or threatened investigation that might lead to such a claim. 

(m) Litigation. There is no Action which (i) adversely affects or challenges the legality, validity or enforceability of any
of this Agreement or the issuance of the Common Shares hereunder or (ii) is reasonably likely to have a Material Adverse Effect, individually or in the aggregate, if there were an unfavorable decision. Neither the Company nor any Subsidiary,
nor any director or officer thereof, is or has been the subject of any Action involving a claim of violation of or liability under federal or state securities laws or a claim of breach of fiduciary duty. There has not been, and to the Company’s
Knowledge there is not pending or contemplated, any investigation by the Commission involving the Company or any current or former director or officer of the Company. There are no outstanding orders, judgments, injunctions, awards or decrees of any
court, arbitrator or governmental or regulatory body against the Company or any executive officers or directors of the Company in their capacities as such, which individually or in the aggregate, would reasonably be expected to have a Material
Adverse Effect. 

  
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 (n) Employment Matters. Except as disclosed on Schedule 3.1(n), no labor
dispute exists or, to the Company’s Knowledge, is imminent with respect to any of the employees of the Company or any Subsidiary which would have or reasonably be expected to have a Material Adverse Effect. None of the Company’s or any
Subsidiary’s employees is a member of a union that relates to such employee’s relationship with the Company or any Subsidiary, and neither the Company nor any Subsidiary is a party to a collective bargaining agreement, and the Company and
each Subsidiary believes that its relationship with its employees is good. To the Company’s Knowledge, no executive officer is, or is now expected to be, in violation of any material term of any employment contract, confidentiality, disclosure
or proprietary information agreement or non-competition agreement, or any other contract or agreement or any restrictive covenant in favor of a third party, and to the Company’s Knowledge, the continued employment of each such executive officer
does not subject the Company or any Subsidiary to any liability with respect to any of the foregoing matters. The Company and each Subsidiary is in compliance with all U.S. federal, state, local and foreign laws and regulations relating to
employment and employment practices, terms and conditions of employment and wages and hours, except where the failure to be in compliance would not have or reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect.

 (o) Compliance. Neither the Company nor any Subsidiary (i) is in default under or in violation of (and no event
has occurred that has not been waived that, with notice or lapse of time or both, would result in a default by the Company or any Subsidiary under), nor has the Company or any Subsidiary received written notice of a claim that it is in default under
or that it is in violation of, any Material Contract (whether or not such default or violation has been waived), (ii) is in violation of any order of any court, arbitrator or governmental body having jurisdiction over the Company, any
Subsidiary or their respective properties or assets, or (iii) is in violation of, or in receipt of written notice that it is in violation of, any statute, rule, regulation, policy or guideline or order of any governmental authority,
self-regulatory organization applicable to the Company or any Subsidiary, or which would have the effect of revoking or limiting FDIC deposit insurance, except in each case as would not have or reasonably be expected to have, individually or in the
aggregate, a Material Adverse Effect. 
 (p) Regulatory Permits. Except as disclosed on Schedule 3.1(p), the
Company and each of its Subsidiaries possess all certificates, authorizations, consents and permits issued by the appropriate federal, state, local or foreign regulatory authorities necessary to conduct their respective businesses as currently
conducted, except where the failure to possess such permits, individually or in the aggregate, has not and would not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect (“Material Permits”),
and (i) neither the Company nor any Subsidiary has received any notice in writing of Proceedings relating to the revocation or material adverse modification of any such Material Permits and (ii) the Company is unaware of any facts or
circumstances that would give rise to the revocation or material adverse modification of any Material Permits. 
 (q) Title to
Assets. Each of the Company and its Subsidiaries has good and marketable title to all real property and tangible personal property owned by it which is material to the business of the Company and its Subsidiaries, taken as a whole, in each case
free and clear of all Liens except such as do not materially affect the value of such property or do not interfere with the use made and proposed to be made of such property by the Company and any of its

  
 12 

 
Subsidiaries. Any real property and facilities held under lease by the Company and any of its Subsidiaries are held by them under valid, subsisting and enforceable leases with such exceptions as
are not material and do not interfere with the use made and proposed to be made of such property and facilities by the Company and its Subsidiaries. 
 (r) Patents and Trademarks. The Company and its Subsidiaries own, possess, license or have other rights to use all foreign and domestic patents, patent applications, trade and service marks, trade
and service mark registrations, trade names, copyrights, inventions, trade secrets, technology, Internet domain names, know-how and other intellectual property (collectively, the “Intellectual Property”) necessary for the conduct of
their respective businesses as currently conducted, except where the failure to own, possess, license or have such rights would not have or reasonably be expected to have a Material Adverse Effect. Except where such violations or infringements would
not have or reasonably be expected to have, either individually or in the aggregate, a Material Adverse Effect, (a) there are no rights of third parties to any such Intellectual Property; (b) there is no infringement by third parties of
any such Intellectual Property; (c) there is no pending or threatened Proceeding by others challenging the Company’s and/or any Subsidiary’s rights in or to any such Intellectual Property; (d) there is no pending or threatened
Proceeding by others challenging the validity or scope of any such Intellectual Property; and (e) there is no pending or threatened Proceeding by others that the Company and/or any Subsidiary infringes or otherwise violates any patent,
trademark, service mark, trade name, copyright, invention, trade secret, technology, Internet domain name, know-how or other proprietary rights of others. 
 (s) Insurance. Each of the Company and its Subsidiaries is insured by insurers of recognized financial responsibility against such losses and risks and in such amounts as the Company believes to be
prudent and customary in the businesses and locations in which the Company and the Subsidiaries are engaged. Neither the Company nor any of its Subsidiaries has received any notice of cancellation of any such insurance, nor, to the Company’s
Knowledge, will it or any Subsidiary be unable to renew their respective existing insurance coverage as and when such coverage expires or to obtain similar coverage from similar insurers as may be necessary to continue its business at a cost that
would not have a Material Adverse Effect. 
 (t) Transactions With Affiliates and Employees. None of the officers or
directors of the Company and, to the Company’s Knowledge, none of the employees of the Company, is presently a party to any transaction with the Company or to a presently contemplated transaction (other than for services as employees, officers
and directors) that would be required to be disclosed pursuant to Item 404 of Regulation S-K promulgated under the Securities Act if such item were applicable to the Company. 

(u) Internal Accounting Controls. The Company maintains a system of internal accounting controls sufficient to provide reasonable
assurance that (i) transactions are executed in accordance with management’s general or specific authorizations, (ii) transactions are recorded as necessary to permit preparation of financial statements in conformity with GAAP and to
maintain asset and liability accountability, (iii) access to assets or incurrence of liabilities is permitted only in accordance with management’s general or specific authorization, and (iv) the recorded accountability for assets and
liabilities is compared with the existing assets and liabilities at reasonable intervals and appropriate action is taken with respect to any difference. 

  
 13 

 (v) Certain Fees. No Person will have, as a result of the transactions contemplated
by this Agreement, any valid right, interest or claim against or upon the Company or the Purchaser for any commission, fee or other compensation pursuant to any agreement, arrangement or understanding entered into by or on behalf of the Company,
other than the Placement Agent with respect to the offer and sale of the Common Shares (which placement agent fees are set forth on Schedule 3.1(v) and are being paid by the Company). The Company shall indemnify, pay, and hold the Purchaser
harmless against, any liability, loss or expense (including, without limitation, attorneys’ fees and out-of-pocket expenses) arising in connection with any such right, interest or claim. 

(w) Private Placement. Assuming the accuracy of the Purchaser’s representations and warranties set forth in Section 3.2
of this Agreement, and assuming the accuracy of the representations and warranties of each other Person who purchased Common Stock during the past six months, no registration under the Securities Act is required for the offer and sale of the Common
Shares by the Company to the Purchaser hereunder. 
 (x) Registration Rights. No Person has any right to cause the Company
to effect the registration under the Securities Act of any securities of the Company. 
 (y) No Integrated Offering.
Assuming the accuracy of the Purchaser’s representations and warranties set forth in Section 3.2 of this Agreement and assuming the accuracy of the representations and warranties of each other Person who purchased Common Stock during the
past six months, none of the Company, any Subsidiary nor, to the Company’s Knowledge, any of its Affiliates or any Person acting on its behalf has, directly or indirectly, at any time within the past six months, made any offers or sales of any
Company security or solicited any offers to buy any security under circumstances that would cause such offers and sales to be integrated for purposes of Regulation D with the offer and sale by the Company of the Common Shares or that otherwise
would cause the exemption from registration under Regulation D to be unavailable in connection with the offer and sale by the Company of the Common Shares. 
 (z) Investment Company. The Company is not, and immediately after receipt of payment for the Common Shares will not be, an “investment company,” an “affiliated person” of,
“promoter” for or “principal underwriter” for, an entity “controlled” by an “investment company,” within the meaning of the Investment Company Act of 1940, as amended. 

(aa) Unlawful Payments. Neither the Company nor any of its Subsidiaries, nor any directors, officers, nor to the Company’s
Knowledge, employees, agents or other Persons acting at the direction of or on behalf of the Company or any Subsidiary has, in the course of its actions for, or on behalf of, the Company: (a) directly or indirectly, used any corporate funds for
unlawful contributions, gifts, entertainment or other unlawful expenses relating to foreign or domestic political activity; (b) made any direct or indirect unlawful payments to any foreign or domestic governmental officials or employees or to
any foreign or domestic political parties or campaigns from corporate funds; (c) violated any provision of the Foreign Corrupt Practices Act of 1977, as amended; or (d) made any other unlawful bribe, rebate, payoff, influence payment,
kickback or other material unlawful payment to any foreign or domestic government official or employee. 

  
 14 

 (bb) Application of Takeover Protections; Rights Agreements. The Company has not
adopted any stockholder rights plan or similar arrangement relating to accumulations of beneficial ownership of Common Stock or a change in control of the Company. The Company and its Board have taken all action necessary to render inapplicable any
control share acquisition, business combination, poison pill (including any distribution under a rights agreement) or other similar anti-takeover provision under the Company’s Articles of Incorporation or other organizational documents or the
laws of the jurisdiction of its incorporation or otherwise which is or could become applicable to the Purchaser as a direct consequence of the transactions contemplated by this Agreement, including, without limitation, the Company’s issuance of
the Common Shares and the Purchaser’s ownership of the Common Shares. 
 (cc) Off Balance Sheet Arrangements. There
is no transaction, arrangement, or other relationship between the Company (or any of its Subsidiaries) and an unconsolidated or other off balance sheet entity that would have or reasonably be expected to have a Material Adverse Effect. 

(dd) Acknowledgment Regarding Purchase of Common Shares. The Company acknowledges and agrees that the Purchaser is acting solely in
the capacity of an arm’s length purchaser with respect to this Agreement and the transactions contemplated hereby. The Company further acknowledges that no Purchaser is acting as a financial advisor or fiduciary of the Company (or in any
similar capacity) with respect to this Agreement and the transactions contemplated hereby and any advice given by the Purchaser or any of their respective Representatives or agents in connection with this Agreement and the transactions contemplated
hereby is merely incidental to the Purchaser’s purchase of the Common Shares. 
 (ee) OFAC. Neither the Company nor
any Subsidiary nor, to the Company’s Knowledge, any director, officer, agent, employee, Affiliate or Person acting on behalf of the Company or any Subsidiary is currently subject to any U.S. sanctions administered by the Office of Foreign
Assets Control of the U.S. Treasury Department (“OFAC”); and the Company will not knowingly, directly or indirectly, use the proceeds of the sale of the Common Shares, or lend, contribute or otherwise make available such proceeds to
any Subsidiary, joint venture partner or other Person or entity, towards any sales or operations in Cuba, Iran, Syria, Sudan, Myanmar or any other country sanctioned by OFAC or for the purpose of financing the activities of any Person currently
subject to any U.S. sanctions administered by OFAC. 
 (ff) Money Laundering Laws. The operations of the Company and each
of its Subsidiaries are and have been conducted at all times in compliance with the money laundering statutes of applicable jurisdictions, the rules and regulations thereunder and any related or similar rules, regulations or guidelines, issued,
administered or enforced by any applicable governmental agency (collectively, the “Money Laundering Laws”) and to the Company’s Knowledge, no action, suit or proceeding by or before any court or governmental agency, authority
or body or any arbitrator involving the Company and/or any Subsidiary with respect to the Money Laundering Laws is pending or threatened. 

  
 15 

 (gg) Compliance with Certain Banking Regulations. The Company has no knowledge of any
facts and circumstances, and has no reason to believe that any facts or circumstances exist, that would cause the Bank: (i) to be deemed not to be in satisfactory compliance with the Community Reinvestment Act and the regulations promulgated
thereunder or to be assigned a CRA rating by federal or state banking regulators of lower than “satisfactory”; (ii) to be deemed to be operating in violation, in any material respect, of the Bank Secrecy Act of 1970 (or otherwise
known as the “Currency and Foreign Transactions Reporting Act”), the USA Patriot Act (or otherwise known as “Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of
2001”), any order issued with respect to anti-money laundering by OFAC or any other anti-money laundering statute, rule or regulation; or (iii) to be deemed not to be in satisfactory compliance, in any material respect, with all applicable
privacy of customer information requirements contained in any federal and state privacy laws and regulations as well as the provisions of all information security programs adopted by the Bank. 

(hh) No Additional Agreements. Other than as provided in this Agreement, the Company has no other agreements or understandings
(including, without limitation, side letters) with any Person to purchase shares of Common Stock on terms more favorable to such Person than as set forth herein. 
 (ii) Well Capitalized. As of December 31, 2010, the Bank met or exceeded the standards necessary to be considered “well capitalized” under the FDIC’s regulatory framework for
prompt corrective action. 
 (jj) Agreements with Regulatory Agencies. Except as disclosed on Schedule 3.1(jj),
neither the Company nor the Bank is subject to any cease-and-desist or other similar order or enforcement action issued by, or is a party to any written agreement, consent agreement or memorandum of understanding with, or is a party to any
commitment letter or similar undertaking to, or is subject to any capital directive by, or since December 31, 2009, has adopted any board resolutions at the request of, any governmental entity that currently restricts in any material respect
the conduct of its business or that in any material manner relates to its capital adequacy, its liquidity and funding policies and practices, its ability to pay dividends, its credit, risk management or compliance policies, its internal controls,
its management or its operations or business (each item in this sentence, a “Regulatory Agreement”), nor has the Company or any Subsidiary been advised since December 31, 2009 by any governmental entity that it is considering
issuing, initiating, ordering, or requesting any such Regulatory Agreement. The Company and the Bank are in compliance in all material respects with each Regulatory Agreement to which it is party or subject, and neither the Company nor the Bank has
received any notice from any governmental entity indicating that the Company or either Bank is not in compliance in all material respects with any such Regulatory Agreement. 
 The Company and the Bank has, in all material respects, properly administered all accounts for which it acts as a fiduciary, including accounts for which it serves as a trustee, agent, custodian, personal
representative, guardian, conservator or investment advisor, in accordance with the terms of the governing documents, applicable federal and state law and regulation and common law. None of the Company, the Bank or any director, officer or employee
of the Company or the Bank has, in any material respect, committed any breach of trust or fiduciary duty with respect to any such fiduciary account and the accountings for each such fiduciary account are true and correct in all material respects and
accurately reflect the assets of such fiduciary account. 

  
 16 

 (kk) No General Solicitation or General Advertising. Neither the Company nor any
Person acting on its behalf has engaged or will engage in any form of general solicitation or general advertising (within the meaning of Regulation D under the Securities Act) in connection with any offer or sale of the Common Shares. 

(ll) Mortgage Banking Business. Except as has not had and would not reasonably be expected to have a Material Adverse Effect:

 (i) The Company and the Bank have complied with, and all documentation in connection with the origination,
processing, underwriting and credit approval of any mortgage loan originated, purchased or serviced by the Company or the Bank satisfied, (A) all applicable federal, state and local laws, rules and regulations with respect to the origination,
insuring, purchase, sale, pooling, servicing, subservicing, or filing of claims in connection with mortgage loans, including all laws relating to real estate settlement procedures, consumer credit protection, truth in lending laws, usury
limitations, fair housing, transfers of servicing, collection practices, equal credit opportunity and adjustable rate mortgages, (B) the responsibilities and obligations relating to mortgage loans set forth in any agreement between the Company
or the Bank and any Agency, Loan Investor or Insurer, (C) the applicable rules, regulations, guidelines, handbooks and other requirements of any Agency, Loan Investor or Insurer and (D) the terms and provisions of any mortgage or other
collateral documents and other loan documents with respect to each mortgage loan; and 
 (ii) No Agency, Loan
Investor or Insurer has (A) claimed in writing that the Company or the Bank has violated or has not complied with the applicable underwriting standards with respect to mortgage loans sold by the Company or the Bank to a Loan Investor or Agency,
or with respect to any sale of mortgage servicing rights to a Loan Investor, (B) imposed in writing restrictions on the activities (including commitment authority) of the Company or the Bank or (C) indicated in writing to the Company or
the Bank that it has terminated or intends to terminate its relationship with the Company or the Bank for poor performance, poor loan quality or concern with respect to the Company’s or the Bank’s compliance with laws. 

For purposes of this Section 3.1(ll): (A) “Agency” means the Federal Housing Administration, the Federal Home
Loan Mortgage Corporation, the Farmers Home Administration (now known as Rural Housing and Community Development Services), the Federal National Mortgage Association, the United States Department of Veterans’ Affairs, the Rural Housing Service
of the U.S. Department of Agriculture or any other federal or state agency with authority to (i) determine any investment, origination, lending or servicing requirements with regard to mortgage loans originated, purchased or serviced by the
Company or any of its Subsidiaries or (ii) originate, purchase, or service mortgage loans, or otherwise promote mortgage lending, including state and local housing finance authorities; (B) “Loan Investor” means any person
(including an Agency) having a beneficial interest in any mortgage loan 

  
 17 

 
originated, purchased or serviced by the Company or any of its Subsidiaries or a security backed by or representing an interest in any such mortgage loan; and (C) “Insurer”
means a person who insures or guarantees for the benefit of the mortgagee all or any portion of the risk of loss upon borrower default on any of the mortgage loans originated, purchased or serviced by the Company or any of its Subsidiaries,
including the Federal Housing Administration, the United States Department of Veterans’ Affairs, the Rural Housing Service of the U.S. Department of Agriculture and any private mortgage insurer, and providers of hazard, title or other insurance
with respect to such mortgage loans or the related collateral. 
 (mm) Risk Management Instruments. Except as has not had
or would not reasonably be expected to have a Material Adverse Effect, since January 1, 2009, all material derivative instruments, including, swaps, caps, floors and option agreements, whether entered into for the Company’s own account, or
for the account of one or more of the Company Subsidiaries, were entered into (1) only in the ordinary course of business, (2) in accordance with prudent practices and in all material respects with all applicable laws, rules, regulations
and regulatory policies and (3) with counterparties believed to be financially responsible at the time; and each of them constitutes the valid and legally binding obligation of the Company or one of the Company Subsidiaries, enforceable in
accordance with its terms. Neither the Company nor the Company Subsidiaries, nor, to the knowledge of the Company, any other party thereto, is in breach of any of its material obligations under any such agreement or arrangement. 

(nn) ERISA. The Company is in compliance in all material respects with all presently applicable provisions of the Employee
Retirement Income Security Act of 1974, as amended, including the regulations and published interpretations thereunder (herein called “ERISA”); no “reportable event” (as defined in ERISA) has occurred with respect to any
“pension plan” (as defined in ERISA) for which the Company would have any liability; the Company has not incurred and does not expect to incur liability under (i) Title IV of ERISA with respect to termination of, or withdrawal from,
any “pension plan”; or (ii) Sections 412 or 4971 of the Internal Revenue Code of 1986, as amended, including the regulations and published interpretations thereunder (the “Code”); and each “Pension Plan” for
which the Company would have liability that is intended to be qualified under Section 401(a) of the Code is so qualified in all material respects and nothing has occurred, whether by action or by failure to act, which would cause the loss of
such qualification. 
 (oo) Shell Company Status. The Company is not, and has never been, an issuer identified in Rule
144(i)(1). 
 (pp) Nonperforming Assets. To the Company’s Knowledge, as of the date hereof, the Company believes that
the Bank will be able to fully and timely collect substantially all interest, principal or other payments when due under its loans, leases and other assets that are not classified as nonperforming and such belief is reasonable under all the facts
and circumstances known to the Company and the Bank, and the Company believes that the amount of reserves and allowances for loan and lease losses and other nonperforming assets established on the Company’s and the Bank’s financial
statements is adequate and such belief is reasonable under all the facts and circumstances known to the Company and the Bank. 

  
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 (qq) Change in Control. The issuance of the Common Shares will not trigger any rights
under any “change of control” provision in any of the agreements to which the Company or any of its Subsidiaries is a party, including any employment, “change in control,” severance or other compensatory agreements and any
benefit plan, which results in payments to the counterparty or the acceleration of vesting of benefits. 
 (rr) Common
Control. The Company is not and, after giving effect to the offering and sale of the Common Shares, will not be under the control (as defined in the BHC Act and the Federal Reserve’s Regulation Y (12 CFR Part 225) (“BHC Act
Control”) of any company (as defined in the BHC Act and the Federal Reserve’s Regulation Y). The Company is not in BHC Act Control of any federally insured depository institution other than the Bank. Neither Bank is under the BHC Act
Control of any company (as defined in the BHC Act and the Federal Reserve’s Regulation Y) other than Company. Neither the Company nor the Bank controls, in the aggregate, more than five percent of the outstanding voting class, directly or
indirectly, of any federally insured depository institution, other than the Company’s ownership interest in the Bank. 

3.2 Representations and Warranties of the Purchaser. The Purchaser hereby represents and warrants as of the date hereof and as of
the Closing Date to the Company as follows: 
 (a) Organization; Authority. If the Purchaser is an entity, it is duly
organized, validly existing and in good standing under the laws of the jurisdiction of its organization with the requisite corporate, partnership or other power and authority to enter into and to consummate the transactions contemplated by this
Agreement and otherwise to carry out its obligations hereunder. If the Purchaser is an entity, the execution and delivery of this Agreement and performance by the Purchaser of the transactions contemplated by this Agreement have been duly authorized
by all necessary corporate or, if the Purchaser is not a corporation, such partnership, limited liability company or other applicable like action, on the part of the Purchaser. If the Purchaser is an entity, this Agreement has been duly executed by
the Purchaser, and when delivered by the Purchaser in accordance with the terms hereof, will constitute the valid and legally binding obligation of the Purchaser, enforceable against it in accordance with its terms, except as such enforceability may
be limited by applicable bankruptcy, insolvency, reorganization, moratorium, liquidation or similar laws relating to, or affecting generally the enforcement of, creditors’ rights and remedies or by other equitable principles of general
application. 
 (b) No Conflicts. The execution, delivery and performance by the Purchaser of this Agreement and the
consummation by the Purchaser of the transactions contemplated hereby will not (i) result in a violation of the organizational documents of the Purchaser (if the Purchaser is an entity), (ii) conflict with, or constitute a default (or an
event which with notice or lapse of time or both would become a default) under, or give to others any rights of termination, amendment, acceleration or cancellation of, any agreement, indenture or instrument to which the Purchaser is a party, or
(iii) result in a violation of any law, rule, regulation, order, judgment or decree (including federal and state securities laws) applicable to the Purchaser, except in the case of clauses (ii) and (iii) above, for such conflicts,
defaults, rights or violations which would not, individually or in the aggregate, reasonably be expected to have a material adverse effect on the ability of the Purchaser to perform its obligations hereunder. 

  
 19 

 (c) Investment Intent. The Purchaser understands that the Common Shares are
“restricted securities” and have not been registered under the Securities Act or any applicable state securities law and is acquiring the Common Shares as principal for its own account and not with a view to, or for distributing or
reselling such Common Shares or any part thereof in violation of the Securities Act or any applicable state securities laws, provided, however, that by making the representations herein, the Purchaser does not agree to hold any of the Common
Shares for any minimum period of time and reserves the right at all times to sell or otherwise dispose of all or any part of such Common Shares pursuant to an effective registration statement under the Securities Act or under an exemption from such
registration and in compliance with applicable federal and state securities laws. The Purchaser is acquiring the Common Shares hereunder in the ordinary course of its business. The Purchaser does not presently have any agreement, plan or
understanding, directly or indirectly, with any Person to distribute or effect any distribution of any of the Common Shares to or through any person or entity. 
 (d) Purchaser Status. The Purchaser is an “accredited investor” as defined in Rule 501(a) under the Securities Act. 

(e) General Solicitation. The Purchaser is not purchasing the Common Shares as a result of any advertisement, article, notice or
other communication regarding the Common Shares published in any newspaper, magazine or similar media or broadcast over television or radio or presented at any seminar or any other general advertisement. 

(f) Experience of the Purchaser. The Purchaser, either alone or together with its Representatives, has such knowledge,
sophistication and experience in business and financial matters so as to be capable of evaluating the merits and risks of the prospective investment in the Common Shares, and has so evaluated the merits and risks of such investment. The Purchaser is
able to bear the economic risk of an investment in the Common Shares and, at the present time, is able to afford a complete loss of such investment. 
 (g) Access to Information. The Purchaser acknowledges that it has been afforded (i) the opportunity to ask such questions as it has deemed necessary of, and to receive answers from,
Representatives of the Company concerning the terms and conditions of the offering of the Common Shares and the merits and risks of investing in the Common Shares; (ii) access to information about the Company and the Bank and their respective
financial condition, results of operations, business, properties, management and prospects sufficient to enable it to evaluate its investment; and (iii) the opportunity to obtain such additional information that the Company possesses or can
acquire without unreasonable effort or expense that is necessary to make an informed investment decision with respect to the investment. The Purchaser has sought such accounting, legal and tax advice as it has considered necessary to make an
informed decision with respect to its acquisition of the Common Shares. 
 (h) Brokers and Finders. Other than the
Placement Agent with respect to the Company, no Person will have, as a result of the transactions contemplated by this Agreement, any valid right, interest or claim against or upon the Company or the Purchaser for any commission, fee or other
compensation pursuant to any agreement, arrangement or understanding entered into by or on behalf of the Purchaser. 

  
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 (i) Independent Investment Decision. The Purchaser has independently evaluated the
merits of its decision to purchase Common Shares pursuant to this Agreement, and the Purchaser confirms that it has not relied on the advice of any other Person’s business and/or legal counsel in making such decision. The Purchaser understands
that nothing in this Agreement or any other materials presented by or on behalf of the Company to the Purchaser in connection with the purchase of the Common Shares constitutes legal, tax or investment advice. The Purchaser has consulted such legal,
tax and investment advisors as it, in its sole discretion, has deemed necessary or appropriate in connection with its purchase of the Common Shares. The Purchaser understands that the Placement Agent has acted solely as the agents of the Company in
this placement of the Common Shares and the Purchaser has not relied on the business or legal advice of the Placement Agent or any of its agents, counsel or Affiliates in making its investment decision hereunder, and confirms that none of such
Persons has made any representations or warranties to the Purchaser in connection with the transactions contemplated by this Agreement. 
 (j) Reliance on Exemptions. The Purchaser understands that the Common Shares being offered and sold to it in reliance on specific exemptions from the registration requirements of U.S. federal and
state securities laws and that the Company is relying in part upon the truth and accuracy of, and the Purchaser’s compliance with, the representations, warranties, agreements, acknowledgements and understandings of the Purchaser set forth
herein in order to determine the availability of such exemptions and the eligibility of the Purchaser to acquire the Common Shares. 
 (k) No Governmental Review. The Purchaser understands that no U.S. federal or state agency or any other government or governmental agency has passed on or made any recommendation or endorsement of
the Common Shares or the fairness or suitability of the investment in the Common Shares nor have such authorities passed upon or endorsed the merits of the offering of the Common Shares. 

(l) Residency. The Purchaser’s residence (if an individual) or office in which its investment decision with respect to the
Common Shares was made (if an entity) are located at the address immediately below the Purchaser’s name on its signature page hereto. 
 3.3 No Representations or Warranties Outside Agreement. Purchaser acknowledges and agrees that no party to this Agreement has made or makes any representations or warranties with respect to the
transactions contemplated hereby other than those specifically set forth in this Agreement. 
 ARTICLE IV 

OTHER AGREEMENTS OF THE PARTIES 
 4.1 Transfer Restrictions. 
 (a) Compliance with Laws.
Notwithstanding any other provision of this Agreement, the Purchaser covenants that the Common Shares may be disposed of only pursuant to an effective registration statement under, and in compliance with the requirements of, the

  
 21 

 
Securities Act, or pursuant to an available exemption from, or in a transaction not subject to, the registration requirements of the Securities Act, and in compliance with any applicable state,
federal or foreign securities laws. In connection with any transfer of the Common Shares other than (i) pursuant to an effective registration statement, (ii) to the Company or (iii) pursuant to Rule 144 (provided that the transferor
provides the Company with reasonable assurances (in the form of seller and broker representation letters) that such securities may be sold pursuant to such rule), the Company may require the transferor thereof to provide to the Company and the
Transfer Agent, at the transferor’s expense, an opinion of counsel selected by the transferor and reasonably acceptable to the Company and the Transfer Agent, the form and substance of which opinion shall be reasonably satisfactory to the
Company and the Transfer Agent, to the effect that such transfer does not require registration of such Common Shares under the Securities Act. 
 (b) Legends. Certificates evidencing the Common Shares shall bear any legend as required by the “blue sky” laws of any state and a restrictive legend in substantially the following form,
until such time as they are not required under Section 4.1(c) or applicable law: 
 THESE SECURITIES HAVE NOT BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR APPLICABLE STATE SECURITIES LAWS. THE SECURITIES MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED (I) IN THE ABSENCE OF (A) AN EFFECTIVE
REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE SECURITIES ACT OR (B) AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES
LAWS OR BLUE SKY LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE COMPANY AND ITS TRANSFER AGENT OR (II) UNLESS SOLD PURSUANT TO RULE 144 UNDER SAID ACT (PROVIDED THAT THE TRANSFEROR PROVIDES THE COMPANY WITH REASONABLE
ASSURANCES (IN THE FORM OF SELLER AND BROKER REPRESENTATION LETTERS) THAT THE SECURITIES MAY BE SOLD PURSUANT TO SUCH RULE). NO REPRESENTATION IS MADE BY THE ISSUER AS TO THE AVAILABILITY OF THE EXEMPTION PROVIDED BY RULE 144 UNDER THE SECURITIES
ACT FOR RESALES OF THESE SECURITIES. 
 (c) Removal of Legends. The restrictive legend set forth in Section 4.1(b)
above shall be removed and the Company shall issue a certificate without such restrictive legend or any other restrictive legend to the holder of the applicable Common Shares upon which it is stamped or issue to such holder by electronic delivery at
the applicable balance account at DTC (if available) if (i) such Common Shares are registered for resale under the Securities Act, (ii) such Common Shares are sold or transferred pursuant to Rule 144, or (iii) such Common Shares

  
 22 

 
are eligible for sale under Rule 144, without the requirement for the Company to be in compliance with the current public information required under Rule 144(c)(1) (or Rule 144(i)(2), if
applicable) as to such securities and without volume or manner-of-sale restrictions. Upon Rule 144 becoming available for the resale of Common Shares, without the requirement for the Company to be in compliance with the current public information
required under 144(c)(1) (or Rule 144(i)(2), if applicable) as to the Common Shares and without volume or manner-of-sale restrictions, the Company shall instruct the Transfer Agent to remove the legend from the Common Shares and shall cause its
counsel to issue any legend removal opinion required by the Transfer Agent. Any fees (with respect to the Transfer Agent, Company counsel or otherwise) associated with the issuance of such opinion or the removal of such legend shall be borne by the
Company. If a legend is no longer required pursuant to the foregoing, the Company will no later than three (3) Business Days following the delivery by the Purchaser to the Transfer Agent (with notice to the Company) of a legended certificate or
instrument representing such Common Shares (endorsed or with stock powers attached, signatures guaranteed, and otherwise in form necessary to affect the reissuance and/or transfer) and a representation letter to the extent required by
Section 4.1(a), deliver or cause to be delivered to the Purchaser a certificate or instrument (as the case may be) representing such Common Shares that is free from all restrictive legends. The Company may not make any notation on its records
or give instructions to the Transfer Agent that enlarge the restrictions on transfer set forth in this Section 4.1(c). Certificates for Common Shares free from all restrictive legends may be transmitted by the Transfer Agent to the Purchaser by
crediting the account of the Purchaser’s prime broker with DTC (if available) as directed by the Purchaser. 
 (d)
Acknowledgement. The Purchaser hereunder acknowledges its primary responsibilities under the Securities Act and accordingly will not sell or otherwise transfer the Common Shares or any interest therein without complying with the requirements
of the Securities Act. 
 4.2 Acknowledgment of Dilution. The Company acknowledges that the issuance of the Common Shares
may result in dilution of the outstanding shares of Common Stock. The Company further acknowledges that its obligations under this Agreement, including without limitation its obligation to issue the Common Shares pursuant to this Agreement, are
unconditional and absolute and not subject to any right of set off, counterclaim, delay or reduction, regardless of the effect of any such dilution or any claim the Company may have against the Purchaser and regardless of the dilutive effect that
such issuance may have on the ownership of the other shareholders of the Company. 
 4.3 Form D and Blue Sky. The Company
agrees to timely file a Form D with respect to the offer and sale of the Common Shares as required under Regulation D. The Company, on or before the Closing Date, shall take such action as the Company shall reasonably determine is
necessary in order to obtain an exemption for or to qualify the Common Shares for sale to the Purchaser at the Closing pursuant to this Agreement under applicable securities or “Blue Sky” laws of the states of the United States (or to
obtain an exemption from such qualification). The Company shall make all filings and reports relating to the offer and sale of the Common Shares required under applicable securities or “Blue Sky” laws of the states of the United States
following the Closing Date. 

  
 23 

 4.4 No Integration. The Company shall not, and shall use its commercially reasonable
efforts to ensure that no Affiliate of the Company shall, sell, offer for sale or solicit offers to buy or otherwise negotiate in respect of any security (as defined in Section 2 of the Securities Act) that will be integrated with the offer or
sale of the Common Shares in a manner that would require the registration under the Securities Act of the sale of the Common Shares to the Purchaser. 
 4.5 Publicity. The Company shall not publicly disclose the name of the Purchaser or any Affiliate or investment adviser of the Purchaser, or include the name of the Purchaser or any Affiliate or
investment adviser of the Purchaser in any press release or in any filing with the Commission or any regulatory agency, without the prior written consent of the Purchaser, except to the extent such disclosure is required by law, in which case the
Company shall provide the Purchaser with prior written notice of such disclosure permitted hereunder. 
 4.6 Purchaser
Rights. 
 (a) For so long as Purchaser owns at least 4.0% of the outstanding Common Stock, Purchaser shall be entitled to
appoint one individual affiliated with Purchaser and approved by the Company, which approval will not be unreasonably withheld, to serve in an advisory and non-fiduciary capacity on the Board (“Purchaser Advisor”). If such individual
ceases to serve as Purchaser Advisor for any reason, Purchaser shall be entitled to appoint another Purchaser Advisor affiliated with Purchaser and approved by the Company, which approval will not be unreasonably withheld.

(b) The Company shall give Purchaser Advisor copies of all notices, minutes, consents and other material provided to the Board, except
that the Purchaser Advisor may be excluded from access to any material or meeting or portion thereof if the Company believes, upon advice of counsel, that such exclusion is reasonably necessary to preserve the attorney-client privilege, to protect
trade secrets, to comply with any applicable law or regulation, or for other similar reasons. 
 (c) The rights provided in this
Section 4.6 shall not apply at any time that the ownership of Purchaser falls below 4.0% of the outstanding Common Stock. In the event that the ownership of the Purchaser falls below 4.0% of the outstanding Common Stock, Purchaser agrees
to cause the Purchaser Advisor to resign or otherwise cease to serve in the capacity as Purchaser Advisor. 
 4.7
Confidentiality. The Purchaser shall keep confidential and will not disclose, in whole or in part, any Confidential Information, and the Purchaser will require its Representatives to be bound by the terms of this Section 4.7 to the
fullest extent as if they were parties hereto. 
 4.8 Indemnification. 

(a) Indemnification of the Purchaser. The Company will indemnify and hold the Purchaser and its directors, officers, shareholders,
members, partners, employees and agents (and any other Persons with a functionally equivalent role of a Person holding such titles notwithstanding a lack of such title or any other title), each Person who controls the Purchaser (within the meaning
of Section 15 of the Securities Act and Section 20 of the Exchange Act), and 

  
 24 

 
the directors, officers, shareholders, agents, members, partners, employees and agents (and any other Persons with a functionally equivalent role of a Person holding such titles notwithstanding a
lack of such title or any other title) of such controlling person (each, an “Indemnified Person”) harmless from any and all losses, liabilities, obligations, claims, contingencies, damages, costs and expenses, including all
judgments, amounts paid in settlements, court costs and reasonable attorneys’ fees and costs of investigation that any such Indemnified Person may suffer or incur as a result of (i) any breach of any of the representations, warranties,
covenants or agreements made by the Company in this Agreement or (ii) any action instituted against an Indemnified Person in any capacity, or any of them or their respective Affiliates, by any shareholder of the Company who is not an Affiliate
of such Indemnified Person, with respect to any of the transactions contemplated by this Agreement. The Company will not be liable to any Indemnified Person under this Agreement to the extent, but only to the extent that a loss, claim, damage or
liability is attributable to any Indemnified Person’s breach of any of the representations, warranties, covenants or agreements made by such Indemnified Person in this Agreement. 

(b) Conduct of Indemnification Proceedings. Promptly after receipt by any Indemnified Person of any notice of any demand,
claim or circumstances which would or might give rise to a claim or the commencement of any Proceeding in respect of which indemnity may be sought pursuant to Section 4.8(a), such Indemnified Person shall promptly notify the Company in writing
and the Company shall assume the defense thereof, including the employment of counsel reasonably satisfactory to such Indemnified Person, and shall assume the payment of all fees and expenses; provided that the failure of any Indemnified
Person so to notify the Company shall not relieve the Company of its obligations hereunder except to the extent that such failure shall have materially and adversely prejudiced the Company (as finally determined by a court of competent
jurisdiction). In any such Proceeding, any Indemnified Person shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such Indemnified Person unless: (i) the Company and the
Indemnified Person shall have mutually agreed to the retention of such counsel; (ii) the Company shall have failed promptly to assume the defense of such Proceeding and to employ counsel reasonably satisfactory to such Indemnified Person in
such Proceeding; or (iii) in the reasonable judgment of counsel to such Indemnified Person, representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them. The Company shall
not be liable for any settlement of any Proceeding effected without its written consent, which consent shall not be unreasonably withheld, delayed or conditioned. Without the prior written consent of the Indemnified Person, which consent shall not
be unreasonably withheld, delayed or conditioned, the Company shall not effect any settlement of any pending or threatened Proceeding in respect of which any Indemnified Person is or could have been a party and indemnity could have been sought
hereunder by such Indemnified Person, unless such settlement includes an unconditional release of such Indemnified Person from all liability arising out of such Proceeding. 

  
 25 

 4.9 Use of Proceeds. The Company will use the net proceeds from the sale of the
Common Shares to further capitalize the Company. 
 4.10 Certain Transactions. The Company will not merge or consolidate
into, or sell, transfer or lease all or substantially all of its property or assets to, any other party unless the successor, transferee or lessee party, as the case may be (if not the Company), expressly assumes the due and punctual performance and
observance of each and every covenant and condition of this Agreement to be performed and observed by the Company. 
 4.11 No
Change of Control. The Company shall use reasonable best efforts to obtain all necessary irrevocable waivers, adopt any required amendments and make all appropriate determinations so that the issuance of the Common Shares to the Purchaser will
not trigger a “change of control” or other similar provision in any of the agreements to which the Company or any of its Subsidiaries is a party, including without limitation any employment, “change in control,” severance or
other agreements and any benefit plan, which results in payments to the counterparty or the acceleration of vesting of benefits. 
 4.12 Delivery of Financial Statements. The Company shall deliver to the Purchaser: 
 (a) as soon as practicable, but in any event within one hundred twenty (120) days after the end of each fiscal year of the Company, (i) a balance sheet as of the end of such year,
(ii) statements of income and of cash flows for such year, and a comparison between (x) the actual amounts as of and for such fiscal year and (y) the comparable amounts for the prior year, and (iii) a statement of
stockholders’ equity as of the end of such year, all such financial statements audited and certified by independent public accountants selected by the Company, and the chief financial officer and chief executive officer of the Company shall
certify in writing that such financial statements were prepared in accordance with GAAP consistently applied with prior practice for earlier periods and fairly present the financial condition of the Company and its results of operation for the
periods specified therein; and 
 (b) as soon as practicable, but in any event within forty five (45) days after the end of
each of the first three (3) quarters of each fiscal year of the Company, unaudited statements of income for such fiscal quarter, and an unaudited balance sheet as of the end of such fiscal quarter, all prepared in accordance with GAAP (except
that such financial statements may (i) be subject to normal year-end audit adjustments and (ii) not contain all notes thereto that may be required in accordance with GAAP), and the chief financial officer and chief executive officer of the
Company shall certify in writing that such financial statements were prepared in accordance with GAAP consistently applied with prior practice for earlier periods (except as otherwise set forth in this Section 4.12(b)) and fairly present the
financial condition of the Company and its results of operation for the periods specified therein. 
 ARTICLE V

 CONDITIONS PRECEDENT TO CLOSING 
 5.1 Conditions Precedent to the Obligations of the Purchaser to Purchase Common Shares. The obligation of the Purchaser to acquire Common Shares at the Closing is subject to the fulfillment to the
Purchaser’s satisfaction, on or prior to the Closing Date, of each of the following conditions, any of which may be waived by the Purchaser: 

  
 26 

 (a) Representations and Warranties. The representations and warranties of the Company
contained herein shall be true and correct in all material respects as of the date when made and as of the Closing Date, as though made on and as of such date, except for such representations and warranties that speak as of a specific date.

 (b) Performance. The Company shall have performed, satisfied and complied in all material respects with all covenants,
agreements and conditions required by this Agreement to be performed, satisfied or complied with by it at or prior to the Closing. 
 (c) No Injunction. No statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted, entered, promulgated or endorsed by any court or governmental authority of
competent jurisdiction that prohibits the consummation of any of the transactions contemplated by this Agreement. 
 (d)
Consents. The Company shall have obtained in a timely fashion any and all consents, permits, approvals, registrations and waivers necessary for consummation of the purchase and sale of the Common Shares, all of which shall be and remain so
long as necessary in full force and effect. 
 (e) Company Deliverables. The Company shall have delivered the Company
Deliverables in accordance with
 Section 2.2(a). 
 (f) Termination. This Agreement shall not have been terminated
as to the Purchaser in accordance with Section 6.14 herein. 
 (g) Bank Regulatory Issues. The purchase of such
Common Shares shall not (i) cause the Purchaser or any of its Affiliates to violate any bank regulation, (ii) require the Purchaser or any of its Affiliates to file a prior notice with the Federal Reserve or its delegee under the CIBC Act
or the BHC Act or obtain the prior approval of any bank regulator or (iii) cause the Purchaser, together with any other person whose Company securities would be aggregated with the Purchaser’s Company securities for purposes of any bank
regulation or law, to collectively be deemed to own, control or have the power to vote securities which (assuming, for this purpose only, full conversion and/or exercise of such securities by the Purchaser) would represent more than 9.9% of the
voting securities of the Company outstanding at such time. 
 (h) Material Adverse Effect. No Material Adverse Effect
shall have occurred since the date of this Agreement. 
 5.2 Conditions Precedent to the Obligations of the Company to sell
Common Shares. The Company’s obligation to sell and issue the Common Shares to the Purchaser at the Closing is subject to the fulfillment to the satisfaction of the Company on or prior to the Closing Date of the following conditions, any of
which may be waived by the Company: 
 (a) Representations and Warranties. The representations and warranties made by the
Purchaser in Section 3.2 hereof shall be true and correct in all material respects as of the date when made, and as of the Closing Date as though made on and as of such date, except for representations and warranties that speak as of a specific
date. 

  
 27 

 (b) Performance. The Purchaser shall have performed, satisfied and complied in all
material respects with all covenants, agreements and conditions required by this Agreement to be performed, satisfied or complied with by the Purchaser at or prior to the Closing Date. 

(c) No Injunction. No statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted, entered,
promulgated or endorsed by any court or governmental authority of competent jurisdiction that prohibits the consummation of any of the transactions contemplated by this Agreement. 

(d) Purchaser Deliverables. The Purchaser shall have delivered its Purchaser Deliverables in accordance with

Section 2.2(b). 
 (e) Termination. This Agreement shall not have been terminated as to the Purchaser in accordance
with Section 6.14 herein. 
 ARTICLE VI 
 MISCELLANEOUS 
 6.1 Entire Agreement. This Agreement, together with
the exhibits and schedules hereto, contain the entire understanding of the parties with respect to the subject matter hereof and supersede all prior agreements, understandings, discussions and representations, oral or written, with respect to such
matters, which the parties acknowledge have been merged into such documents, exhibits and schedules. At or after the Closing, and without further consideration, the Company and the Purchaser will execute and deliver to the other such further
documents as may be reasonably requested in order to give practical effect to the intention of the parties under this Agreement. 
 6.2 Notices. Any and all notices or other communications or deliveries required or permitted to be provided hereunder shall be in writing and shall be deemed given and effective on the earliest of
(a) the date of transmission, if such notice or communication is delivered via facsimile (provided the sender receives a machine-generated confirmation of successful transmission) at the facsimile number specified in this Section prior to 5:00
p.m., New Orleans, Louisiana time, on a Business Day, (b) the next Business Day after the date of transmission, if such notice or communication is delivered via facsimile at the facsimile number specified in this Section on a day that is not a
Business Day or later than 5:00 p.m., New Orleans, Louisiana time, on any Business Day, (c) the Business Day following the date of mailing, if sent by U.S. nationally recognized overnight courier service with next day delivery specified, or
(d) upon actual receipt by the party to whom such notice is required to be given. The address for such notices and communications shall be as follows: 
  

					
		 	If to the Company:	 	First NBC Bank Holding Company
		 		 	 210 Baronne Street

		 		 	 New Orleans, Louisiana 70112

		 		 	 Attention: Ashton J. Ryan, Jr.

		 		 	 Telephone: (504) 566-8000

		 		 	 Fax: (504) 671-3480

  
 28 

					
		 	With a copy to:	 	Fenimore, Kay, Harrison & Ford LLP
		 		 	111 Congress Avenue, Suite 820
		 		 	Austin, Texas 78701
		 		 	Attention: Derek W. McGee, Esq.
		 		 	Telephone: (512) 583-5902
		 		 	Fax: (512) 583-5940
			
		 	If to the Purchaser:	 	To the address set forth under the Purchaser’s name on the signature page hereof;

 or such other address as may be designated in writing hereafter, in the same manner, by such Person. 

6.3 Amendments; Waivers; No Additional Consideration. No amendment or waiver of any provision of this Agreement will be effective
with respect to any party unless made in writing and signed by an officer or a duly authorized representative of such party. 

6.4 Construction. The headings herein are for convenience only, do not constitute a part of this Agreement and shall not be deemed
to limit or affect any of the provisions hereof. The language used in this Agreement will be deemed to be the language chosen by the parties to express their mutual intent, and no rules of strict construction will be applied against any party. This
Agreement shall be construed as if drafted jointly by the parties, and no presumption or burden of proof shall arise favoring or disfavoring any party by virtue of the authorship of any provisions of this Agreement. 

6.5 Successors and Assigns. The provisions of this Agreement shall inure to the benefit of and be binding upon the parties and
their successors and permitted assigns. This Agreement, or any rights or obligations hereunder, may not be assigned by the Company without the prior written consent of the Purchaser. The Purchaser may assign its rights hereunder in whole or in part
to any Person to whom the Purchaser assigns or transfers any Common Shares in compliance with this Agreement and applicable law, provided that such transferee shall agree in writing to be bound, with respect to the transferred Common Shares, by the
terms and conditions of this Agreement that apply to the “Purchaser.” 
 6.6 No Third-Party Beneficiaries. This
Agreement is intended for the benefit of the parties hereto and their respective successors and permitted assigns and is not for the benefit of, nor may any provision hereof be enforced by, any other Person, other than Indemnified Persons.

 6.7 Governing Law. This Agreement will be governed by and construed in accordance with the laws of the State of
Louisiana applicable to contracts made and to be performed entirely within such State. Each party agrees that all Proceedings concerning the interpretations, enforcement and defense of the transactions contemplated by this Agreement (whether brought
against a party hereto or its respective Affiliates, employees or agents) may be commenced on a non-exclusive basis in the Louisiana Courts. Each party hereto hereby irrevocably submits to the non-exclusive jurisdiction of the Louisiana Courts for
the adjudication of any dispute hereunder or in connection herewith or with any transaction contemplated hereby or discussed herein (including with respect to the enforcement of this Agreement), and hereby

  
 29 

 
irrevocably waives, and agrees not to assert in any Proceeding, any claim that it is not personally subject to the jurisdiction of any such Louisiana Court, or that such Proceeding has been
commenced in an improper or inconvenient forum. Each party hereto hereby irrevocably waives personal service of process and consents to process being served in any such Proceeding by mailing a copy thereof via registered or certified mail or
overnight delivery (with evidence of delivery) to such party at the address in effect for notices to it under this Agreement and agrees that such service shall constitute good and sufficient service of process and notice thereof. Nothing contained
herein shall be deemed to limit in any way any right to serve process in any manner permitted by law. EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL
PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY. 
 6.8 Survival. The
representations, warranties, agreements and covenants contained herein shall not survive the Closing. 
 6.9 Execution.
This Agreement may be executed in two or more counterparts, all of which when taken together shall be considered one and the same agreement and shall become effective when counterparts have been signed by each party and delivered to the other party,
it being understood that the parties need not sign the same counterpart. In the event that any signature is delivered by facsimile transmission, or by e-mail delivery of a “.pdf” format data file, such signature shall create a valid and
binding obligation of the party executing (or on whose behalf such signature is executed) with the same force and effect as if such facsimile signature page were an original thereof. 

6.10 Severability. If any provision of this Agreement is held to be invalid or unenforceable in any respect, the validity and
enforceability of the remaining terms and provisions of this Agreement shall not in any way be affected or impaired thereby and the parties will attempt to agree upon a valid and enforceable provision that is a reasonable substitute therefor, and
upon so agreeing, shall incorporate such substitute provision in this Agreement. 
 6.11 Replacement of Common Shares. If
any certificate or instrument evidencing any Common Shares is mutilated, lost, stolen or destroyed, the Company shall issue or cause to be issued in exchange and substitution for and upon cancellation thereof, or in lieu of and substitution
therefor, a new certificate or instrument, but only upon receipt of evidence reasonably satisfactory to the Company and the Transfer Agent of such loss, theft or destruction and the execution by the holder thereof of a customary lost certificate
affidavit of that fact and an agreement to indemnify and hold harmless the Company and the Transfer Agent for any losses in connection therewith or, if required by the Transfer Agent, a bond in such form and amount as is required by the Transfer
Agent. The applicants for a new certificate or instrument under such circumstances shall also pay any reasonable third-party costs associated with the issuance of such replacement Shares. If a replacement certificate or instrument evidencing any
Common Shares is requested due to a mutilation thereof, the Company may require delivery of such mutilated certificate or instrument as a condition precedent to any issuance of a replacement. 

  
 30 

 6.12 Remedies. In addition to being entitled to exercise all rights
provided herein or granted by law, including recovery of damages, the Purchaser and the Company may be entitled to specific performance under this Agreement. The parties agree that monetary damages may not be adequate compensation for any loss
incurred by reason of any breach of obligations described in the foregoing sentence and hereby agree to waive in any action for specific performance of any such obligation (other than in connection with any action for a temporary restraining order)
the defense that a remedy at law would be adequate. 
 6.13 Payment Set Aside. To the extent that the
Company makes a payment or payments to the Purchaser pursuant to this Agreement or the Purchaser enforces or exercises its rights hereunder, and such payment or payments or the proceeds of such enforcement or exercise or any part thereof are
subsequently invalidated, declared to be fraudulent or preferential, set aside, recovered from, disgorged by or are required to be refunded, repaid or otherwise restored to the Company, a trustee, receiver or any other Person under any law
(including, without limitation, any bankruptcy law, state or federal law, common law or equitable cause of action), then to the extent of any such restoration the obligation or part thereof originally intended to be satisfied shall be revived and
continued in full force and effect as if such payment had not been made or such enforcement or setoff had not occurred. 
 6.14 Termination. This Agreement may be terminated and the sale and purchase of the Common Shares abandoned at any time prior to the Closing by either the Company or the Purchaser upon written
notice to the other, if the Closing has not been consummated on or prior to 5:00 p.m., New Orleans, Louisiana time, on the Outside Date; provided, however, that the right to terminate this Agreement under this Section 6.14 shall not be
available to any Person whose failure to comply with its obligations under this Agreement has been the cause of or resulted in the failure of the Closing to occur on or before such time. Nothing in this Section 6.14 shall be deemed to release
any party from any liability for any breach by such party of the terms and provisions of this Agreement or to impair the right of any party to compel specific performance by any other party of its obligations under this Agreement. Upon a termination
in accordance with this Section, the Company and the Purchaser shall not have any further obligation or liability (including arising from such termination) to the other. 
 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 
 [SIGNATURE PAGE FOR COMPANY FOLLOWS]

  
 31 

 IN WITNESS WHEREOF, the parties hereto have caused this Securities Purchase Agreement to be
duly executed by their respective authorized signatories as of the date first indicated above. 
  

			
	FIRST NBC BANK HOLDING COMPANY
		
	By:	 	 /s/ Ashton J. Ryan, Jr. 

	Name: Ashton J. Ryan, Jr.
	Title:  President and Chief Executive Officer

 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

[SIGNATURE PAGE FOR PURCHASER FOLLOW] 
 [SIGNATURE PAGE TO SECURITIES PURCHASE AGREEMENT] 

 
			
	 NAME OF PURCHASER:

	
	 Commerce Street Financial Partners, LP

		
	 By:
	 	 /s/ Carla J. Brooks 

	 Name: Carla J. Brooks

	 Title: Managing Director

	
	 Aggregate Purchase Price (Subscription Amount): $6,399,996

	
	 Number of Common Shares to be Acquired:
 533,333

	
	 Tax ID No.: [intentionally omitted]

	
	 Address for Notice:

	
	 1700 Pacific Avenue, Suite 2020

	 Dallas, TX 75201

	  

	
	 Telephone No.: 214-545-6823

	
	 Facsimile No.: 214-545-6855

	
	 E-mail Address: cbrooks@cstreetcap.com

	
	 Attention: Carla J. Brooks, Managing Director

 

	
	Delivery Instructions:
	 (if different than above)
  

c/o                        
                                         
                          

	
	Street:                            
                                         
               
	
	City/State/Zip:                           
                                         
 
	
	Attention:                            
                                         
         
	
	Telephone No.:
                                         
                         

 [SIGNATURE PAGE TO SECURITIES
PURCHASE AGREEMENT] 

 EXHIBITS 

 

	A-1:	Accredited Investor Questionnaire 

  

	A-2:	Stock Certificate Questionnaire 

  

	B:	Form of Opinion of Company Counsel 

  

	C:	Form of Secretary’s Certificate 

  

	D:	Form of Officer’s Certificate 

 EXHIBIT A-1 
 ACCREDITED INVESTOR QUESTIONNAIRE 
 (ALL INFORMATION WILL BE TREATED
CONFIDENTIALLY) 
 To: First NBC Bank Holding Company 

This Investor Questionnaire (“Questionnaire”) must be completed by each potential investor in connection with the offer
and sale of shares of common stock, no par value per share (the “Common Shares”), of First NBC Bank Holding Company, a Louisiana corporation (the “Company”). The Common Shares are being offered and sold by the
Company without registration under the Securities Act of 1933, as amended (the “Act”), and the securities laws of certain states, in reliance on the exemptions contained in Section 4(2) of the Act and on Regulation D
promulgated thereunder and in reliance on similar exemptions under applicable state laws. The Company must determine that a potential investor meets certain suitability requirements before offering or selling Common Shares to such investor. The
purpose of this Questionnaire is to assure the Company that each investor will meet the applicable suitability requirements. The information supplied by you will be used in determining whether you meet such criteria, and reliance upon the private
offering exemptions from registration is based in part on the information herein supplied. 
 This Questionnaire does not
constitute an offer to sell or a solicitation of an offer to buy any security. Your answers will be kept strictly confidential. However, by signing this Questionnaire, you will be authorizing the Company to provide a completed copy of this
Questionnaire to such parties as the Company deems appropriate in order to ensure that the offer and sale of the Common Shares will not result in a violation of the Act or the securities laws of any state and that you otherwise satisfy the
suitability standards applicable to purchasers of the Common Shares. All potential investors must answer all applicable questions and complete, date and sign this Questionnaire. Please print or type your responses and attach additional sheets of
paper if necessary to complete your answers to any item. 
 PART A. BACKGROUND INFORMATION 

 

					
	Name of Beneficial Owner of the Common Shares: Commerce Street Financial Partners, LP
	
	Business Address: 1700 Pacific Avenue, Suite
2020                                         
                                         
                                         
     
		  	(Number and Street)	  	
			
	Dallas,	  	Texas	  	75201
	 
	(City)	  	(State)	  	(Zip Code)
			
	 Telephone Number: (214) 545-6800
	  		  	
	
	If a corporation, partnership, limited liability company, trust or other entity:

  
 Exhibit A-1|
Page 1 

  

					
	Type of entity: Delaware limited partnership
	  
 Were you formed for the purpose of investing in the
securities being offered?
  
 Yes   ̈                        
No  x

	
	If an individual:
	
	Residence Address:                        
                                         
                                         
                                         
                                         
            
		 	(Number and Street)
	  

	(City)	 	(State)	  	(Zip Code)
	Telephone Number: (            )          
                                         
                                         
                                         
                                         
       
			
	Age:                            
  	 	Citizenship:                          
        	  	Where registered to vote:                      
        

 Set forth in the space provided below the state(s), if any, in the United States in which you maintained your residence
during the past two years and the dates during which you resided in each state: 
 Are you a director or executive officer of the Company?

Yes   ̈            
             No  x 

Social Security or Taxpayer Identification No. [intentionally omitted] 
 PART B. ACCREDITED INVESTOR QUESTIONNAIRE 
 In order for the Company to
offer and sell the Common Shares in conformance with state and federal securities laws, the following information must be obtained regarding your investor status. Please initial each category applicable to you as the Purchaser of Common Shares.

  

			
		
	— (1)	 	A bank as defined in Section 3(a)(2) of the Securities Act, or any savings and loan association or other institution as defined in Section 3(a)(5)(A) of the Securities Act whether
acting in its individual or fiduciary capacity;
		
	— (2)	 	A broker or dealer registered pursuant to Section 15 of the Securities Exchange Act of 1934;
		
	— (3)	 	An insurance company as defined in Section 2(13) of the Securities Act;
		
	— (4)	 	An investment company registered under the Investment Company Act of 1940 or a business development company as defined in Section 2(a)(48) of that act;

  
 Exhibit A-1|
Page 2 

			
		
	     (5)	 	A Small Business Investment Company licensed by the U.S. Small Business Administration under Section 301(c) or (d) of the Small Business Investment Act of 1958;
		
	     (6)	 	A plan established and maintained by a state, its political subdivisions, or any agency or instrumentality of a state or its political subdivisions, for the benefit of its
employees, if such plan has total assets in excess of $5,000,000;
		
	     (7)	 	An employee benefit plan within the meaning of the Employee Retirement Income Security Act of 1974, if the investment decision is made by a plan fiduciary, as defined in Section
3(21) of such act, which is either a bank, savings and loan association, insurance company, or registered investment adviser, or if the employee benefit plan has total assets in excess of $5,000,000 or, if a self-directed plan, with investment
decisions made solely by persons that are accredited investors;
		
	     (8)	 	A private business development company as defined in Section 202(a)(22) of the Investment Advisers Act of 1940;
		
	X (9)	 	An organization described in Section 501(c)(3) of the Internal Revenue Code, a corporation, Massachusetts or similar business trust, or partnership, not formed for the specific
purpose of acquiring the Common Shares, with total assets in excess of $5,000,000;
		
	     (10)	 	A trust, with total assets in excess of $5,000,000, not formed for the specific purpose of acquiring the Common Shares, whose purchase is directed by a sophisticated person who has
such knowledge and experience in financial and business matters that such person is capable of evaluating the merits and risks of investing in the Company;
		
	     (11)	 	A natural person whose individual net worth, or joint net worth with that person’s spouse, at the time of his purchase exceeds $1,000,000, excluding the value of the primary
residence of such natural person;
		
	     (12)	 	A natural person who had an individual income in excess of $200,000 in each of the two most recent years, or joint income with that person’s spouse in excess of $300,000, in
each of those years, and has a reasonable expectation of reaching the same income level in the current year;
		
	     (13)	 	An executive officer or director of the Company;
		
	     (14)	 	An entity in which all of the equity owners qualify under any of the above subparagraphs. If the undersigned belongs to this investor category only, list the equity owners of the
undersigned, and the investor category which each such equity owner satisfies.

  
 Exhibit A-1|
Page 3 

									
	A. FOR EXECUTION BY AN INDIVIDUAL:	 		 	
					
		 	 	 		 	By	 	 
		 	Date	 		 	Print Name:                         
                                         
                 
			
	B. FOR EXECUTION BY AN ENTITY:                 
           	 		 	
		 		 	Entity Name: Commerce Street Financial Partners, LP
				
		 	January 27, 2011	 		 	 /s/ Carla J. Brooks

		 	Date	 		 	Print Name: Carla J. Brooks
		 		 		 	Title: Managing Director
	
	C. ADDITIONAL SIGNATURES (if required by partnership, corporation or trust document):
			
		 		 	Entity Name:                         
                                         
              
					
		 	 	 		 	By	 	 
		 	Date	 		 	Print Name:                         
                                         
                 
		 		 		 	Title:                          
                                         
                             
			
		 		 	Entity Name:                         
                                         
              
					
		 	 	 		 	By	 	 
		 	Date	 		 	Print Name:                         
                                         
                 
		 		 		 	Title:                          
                                         
                             

  
 Exhibit A-1|
Page 4 

 EXHIBIT A-2 
 Stock Certificate Questionnaire 
 Pursuant to Section 2.2(b) of the Agreement, please provide
us with the following information: 
  

					
	1.	  	The exact name that the Common Shares are to be registered in (this is the name that will appear on the stock certificate(s)). You may use a nominee name if appropriate:	  	 Commerce Street Financial Partners, LP

			
	2.	  	The relationship between the Purchaser of the Common Shares and the Registered Holder listed in response to Item 1 above:	  	 same

			
	3.	  	The mailing address, telephone and telecopy number of the Registered Holder listed in response to Item 1 above:	  	 1700 Pacific Avenue

		  		  	 Suite 2020

		  		  	 Dallas, TX 75201

		  		  	  

		  		  	  

			
	4.	  	The Tax Identification Number (or, if an individual, the Social Security Number) of the Registered Holder listed in response to Item 1 above:	  	 [intentionally omitted]

  
 Exhibit A-2|
Page 1 

 EXHIBIT B 
 Form of Opinion of Company Counsel* 
  

	1.	The Company is duly registered as a bank holding company under the Bank Holding Company Act of 1956, as amended, and has been duly incorporated and is validly existing
as a corporation in good standing under the laws of the State of Louisiana. 

  

	2.	The Company has the corporate power and authority to execute and deliver and to perform its obligations under the Agreement, including, without limitation, to issue the
Common Shares. 

  

	3.	The Agreement has been duly authorized, executed and delivered by the Company and, assuming due authorization, execution and delivery by the Purchaser (to the extent
they are a party), the Agreement constitutes a valid and binding agreement of the Company, enforceable against the Company in accordance with its terms, except (i) as such enforceability may be limited by applicable bankruptcy, insolvency,
reorganization, moratorium, liquidation or similar laws relating to, or affecting generally the enforcement of, creditors’ rights and remedies or by other equitable principles of general application, (ii) as limited by laws relating to the
availability of specific performance, injunctive relief or other equitable remedies, and (iii) insofar as indemnification and contributions provisions may be limited by applicable law. 

 

	4.	The execution and delivery by the Company of each of the Agreement and the performance by the Company of its obligations under the Agreement, including its issuance and
sale of the Common Shares, do not and will not: (a) result in any violation of the Articles of Incorporation or Bylaws of the Company, (b) require any consent, approval, license or exemption by, order or authorization of, or filing,
recording or registration by the Company with any federal or state governmental authority, or (c) violate any court order, judgment or decree, if any. 

 

	5.	The Common Shares being delivered to the Purchaser pursuant to the Agreement have been duly and validly authorized and, when issued, delivered and paid for as
contemplated in the Agreement, will be duly and validly issued, fully paid and non-assessable, and free of any preemptive right or similar rights contained in the Company’s Articles of Incorporation or Bylaws. 

 

	6.	Assuming (i) the accuracy of the representations and warranties of the Company set forth in Section 3.1 of the Agreement and of the Purchaser in
Section 3.2 of the Agreement, (ii) the accuracy of the representations and warranties of Persons who purchased Common Stock of the Company during the past six months and (iii) the accuracy of the representations and warranties made in
the Accredited Investor Questionnaire, the offer, sale and delivery of the Common Shares to the Purchaser in the manner contemplated by the Agreement, do not require registration under the Securities Act. 

 

	*	The opinion letter of Company Counsel will be subject to customary limitations and carveouts. 

  
 Exhibit B|
Page 1 

 EXHIBIT C 
 Form of Secretary’s Certificate 
 The undersigned hereby certifies that she
is the duly elected, qualified and acting Corporate Secretary of First NBC Bank Holding Company, a Louisiana corporation (the “Company”), and that as such she is authorized to execute and deliver this certificate in the name and on
behalf of the Company and in connection with the Securities Purchase Agreement, dated as of January 27, 2011, by and among the Company and the investors party thereto (the “Securities Purchase Agreement”), and further certifies
in his official capacity, in the name and on behalf of the Company, the items set forth below. Capitalized terms used but not otherwise defined herein shall have the meaning set forth in the Securities Purchase Agreement. 

 

	1.	Attached hereto as Exhibit A is a true, correct and complete copy of the resolutions duly adopted by the Board of Directors of the Company relating to the
proposed transaction. Such resolutions have not in any way been amended, modified, revoked or rescinded, have been in full force and effect since their adoption to and including the date hereof and are now in full force and effect.

  

	2.	Attached hereto as Exhibit B is a true, correct and complete copy of the Articles of Incorporation of the Company, together with all amendments thereto currently
in effect, and no action has been taken to further amend, modify or repeal such Articles of Incorporation, the same being in full force and effect in the attached form as of the date hereof. 

 

	3.	Attached hereto as Exhibit C is a true, correct and complete copy of the Bylaws of the Company, together with all amendments thereto currently in effect, and no
action has been taken to further amend, modify or repeal such Bylaws, the same being in full force and effect in the attached form as of the date hereof. 

  

	4.	Each person listed below has been duly elected or appointed to the position(s) indicated opposite his name and is duly authorized to sign the Securities Purchase
Agreement on behalf of the Company, and the signature appearing opposite such person’s name below is such person’s genuine signature. 

  

					
	 Name
	  	 Position
	 	 Signature

			
	Ashton J. Ryan, Jr.	  	President and Chief Executive Officer	 	  

  
 Exhibit C|
Page 1 

 IN WITNESS WHEREOF, the undersigned has hereunto set his hand as of this
         day of January, 2011. 
  

	
	  

	Marsha S. Crowle
	Secretary

 I, Ashton J. Ryan, Jr., President and Chief Executive Officer, hereby certify that Marsha S. Crowle is the duly
elected, qualified and acting Secretary of the Company and that the signature set forth above is her true signature. 
  

	
	  

	Ashton J. Ryan, Jr.
	President and Chief Executive Officer

  
 Exhibit C|
Page 2 

 EXHIBIT D 
 Form of Officer’s Certificate 
 The undersigned, the President and Chief
Executive Officer of First NBC Bank Holding Company, a Louisiana corporation (the “Company”), pursuant to Section 2.2(a)(v) of the Securities Purchase Agreement, dated as of January 27, 2011, by and among the Company and the
investors that are signatories thereto (the “Securities Purchase Agreement”), hereby represents, warrants and certifies as follows (capitalized terms used but not otherwise defined herein shall have the meaning set forth in the Securities
Purchase Agreement): 
  

	1.	The representations and warranties of the Company contained in the Securities Purchase Agreement are true and correct as of the date when made and as of the Closing
Date, as though made on and as of such date, except for such representations and warranties that speak as of a specific date. 

  

	2.	The Company has performed, satisfied and complied in all material respects with all covenants, agreements and conditions required by the Securities Purchase Agreement
to be performed, satisfied or complied with by it at or prior to the Closing. 

 IN WITNESS WHEREOF, the
undersigned have executed this certificate this         day of January, 2011. 
  

	
	  

	Ashton J. Ryan, Jr.
	President and Chief Executive Officer

  
 Exhibit D|
Page 1EX-10.12

 Exhibit 10.12 
 SECURITIES PURCHASE AGREEMENT 
 This Securities Purchase Agreement
(“Agreement”) is dated as of June 29, 2011, by and between First NBC Bank Holding Company, a Louisiana corporation (“Company”), and Castle Creek Capital Partners IV, L.P., a Delaware limited partnership
(“Purchaser”). 
 RECITALS 
 A. The authorized capital stock of the Company consists of (i) 20,000,000 shares of common stock, $1.00 par value per share (“Common Stock”), of which 10,167,224 shares are issued
and outstanding, and (ii) 10,000,000 shares of preferred stock (“Preferred Stock”), no par value per share, of which 18,728 shares are issued and outstanding and (A) 17,836 of the issued and outstanding shares of Preferred
Stock are classified as Series A Preferred Stock and (B) 892 of the issued and outstanding shares of Preferred Stock are classified as Series B Preferred Stock. 
 B. The Company desires to issue and sell to the Purchaser, and the Purchaser desires to purchase from the Company, in a private offering of the Company’s capital stock (“Private
Placement”) that is exempt from registration under Section 4(2) of the Securities Act of 1933, as amended (the “Securities Act”), and Rule 506 of Regulation D (“Regulation D”) promulgated by the
Securities and Exchange Commission (“Commission”) under the Securities Act, (i) a number of shares of Common Stock equal to approximately 4.9% of the issued and outstanding shares of Common Stock after giving effect to the
Private Placement (“Common Shares”) and (ii) a number of shares of Series C Preferred Stock representing, together with the Common Stock, an aggregate investment of $27,000,004.50 (“Preferred Shares”). The
price per share for each Common Share and Preferred Share is $12.25. 
 C. The parties desire to enter into this Agreement to
govern certain of their rights, duties and obligations in connection with the Private Placement. 
 NOW, THEREFORE, IN
CONSIDERATION of the mutual covenants contained in this Agreement, and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the Company and Purchaser hereby agree as follows: 

ARTICLE I 

DEFINITIONS 
 1.1 Definitions. The following terms, as used herein, have the following meanings: 
 “Action” means any inquiry, notice of violation or Proceeding pending or, to the Company’s Knowledge, threatened against the Company, any Subsidiary or any of their respective
properties or any officer, director or employee of the Company or any Subsidiary acting in his or her capacity as an officer, director or employee before or by any Governmental Authority. 

“Affiliate” means, with respect to any Person, any other Person that, directly or indirectly through one or more
intermediaries, Controls, is controlled by or is under common control with such Person, as such terms are used in and construed under Rule 405 under the Securities Act. 

 “Agency” has the meaning set forth in Section 3.1(gg). 

“Agreement” has the meaning set forth in the Preamble. 

“Audited Financial Statements” has the meaning set forth in Section 3.1(i). 

“Bank” means First NBC Bank, a Louisiana state bank and wholly-owned Subsidiary of the Company. 

“Bank Regulatory Authorities” has the meaning set forth in Section 3.1(b)(ii). 

“BHC Act” has the meaning set forth in Section 3.1(b)(ii). 

“Board of Directors” means the Board of Directors of the Company. 

“Business Day” means any day other than a Saturday or a Sunday or a day on which Louisiana state banks are authorized or
required by Law or executive order to close. 
 “Closing” means the closing of the purchase and sale of the
Shares on the date hereof pursuant to this Agreement. 
 “Code” means the Internal Revenue Code of 1986, as
amended, including the regulations and published interpretations thereunder. 
 “Commission” has the meaning
set forth in the Recitals. 
 “Common Shares” has the meaning set forth in the Recitals, and also includes any
securities into which the Common Shares may hereafter be reclassified or changed. 
 “Common Stock” has the
meaning set forth in the Recitals.  
 “Company” has the meaning set forth in the Preamble. 

 “Company Counsel” means Fenimore, Kay, Harrison & Ford, LLP.  

“Company Reports” has the meaning set forth in Section 3.1(h). 

“Company’s Knowledge” means, with respect to any statement made to the knowledge of the Company, that the statement
is based upon the actual knowledge, after due inquiry, of (i) the executive officers of the Company having responsibility for the matter or matters that are the subject of the statement, and (ii) Ashton J. Ryan, Jr., William J. Burnell,
Marsha Crowle and Mary Beth Verdigets. 
 “Confidential Information” means information about the Company and
its Subsidiaries provided to the Purchaser by the Company, the Bank or their Representatives, including, without limitation, the information provided to the Purchaser pursuant to Section 4.5 hereof, except that “Confidential
Information” does not include any information that (i) was publicly available prior to the date of this Agreement or hereafter becomes publicly available without any violation of this Agreement by the Purchaser or any of its
Representatives, (ii) was available to the Purchaser 

  
 2 

 
or its Representatives on a non-confidential basis prior to its disclosure to the Purchaser or its Representatives by the Company, the Bank or their Representatives or (iii) becomes
available to the Purchaser from a Person other than the Company, the Bank or their Representatives who is not, to the Purchaser’s knowledge, subject to any legally binding obligation to keep such information confidential. 

“Constituent Documents” means, with respect to any entity, its certificate or articles of incorporation, bylaws, and any
similar charter or other organizational documents of such entity. 
 “Control” (including the terms
“controlling”, “controlled by” or “under common control with”) means the possession, direct or indirect, of the power to direct or cause the direction of the management and policies of a Person, whether through the
ownership of voting securities, by contract or otherwise. 
 “Environmental Laws” has the meaning set forth in
Section 3.1(1). 
 “ERISA” has the meaning set forth in Section 3.1(ii). 

“Exchange Act” means the Securities Exchange Act of 1934, as amended, or any successor statute, and the rules and
regulations promulgated thereunder. 
 “FDIC” has the meaning set forth in Section 3.1(b)(ii). 

 “Federal Reserve” has the meaning set forth in Section 3.1(b)(ii). 

“Financial Statements” has the meaning set forth in Section 3.1(i). 

“Fundamental Representations” means the Company’s representations and warranties set forth in Sections 3.1(b)(i),
3.1(c), 3.1(f), and 3.1(g). 
 “GAAP” means U.S. generally accepted accounting principles consistently applied
over the period involved. 
 “Governmental Authority” means any federal, state, county, local or foreign court,
arbitrator, governmental or administrative agency, bureau, commission, regulatory authority, stock market, stock exchange or trading facility. 
 “Indemnification Claim” has the meaning set forth in Section 4.6(b). 
 “Indemnified Person” has the meaning set forth in Section 4.6(a). 
 “Insurer” has the meaning set forth in Section 3.1(gg). 

“Intellectual Property” has the meaning set forth in Section 3.1(r). 

“Law” has the meaning set forth in Section 3.1(d). 

  
 3 

 “Lien” means any lien, mortgage, deed of trust, pledge, conditional sale
agreement, restriction on transfer, charge, claim, encumbrance, security interest, right of first refusal, preemptive right or other restriction of any kind. 
 “Loan Investor” has the meaning set forth in Section 3.1(gg). 
 “Material Adverse Effect” means any event, circumstance, change or occurrence that has had, or would reasonably be expected to have, (i) an adverse effect on the legality, validity
or enforceability of this Agreement, (ii) a material and adverse effect on the operations, results of operations, assets, liabilities, properties, business, condition (financial or otherwise) or prospects of the Company and the Subsidiaries,
taken as a whole, or (iii) any adverse impairment to the Company’s ability to perform in any material respect on a timely basis its obligations under this Agreement. 
 “Material Contract” means any contract of the Company or its Subsidiaries that is material to the operations, results of operations, assets, liabilities, properties, business, condition
(financial or otherwise) or prospects of the Company and its Subsidiaries, taken as a whole. 
 “Material Permits”
has the meaning set forth in Section 3.1(p). 
 “OFAC” has the meaning set forth in
Section 3.1(aa). 
 “OFI” has the meaning set forth in Section 3.1(b)(ii). 

“Person” means an individual, corporation, partnership, limited liability company, trust, business trust, association,
joint stock company, joint venture, sole proprietorship, unincorporated organization, Governmental Authority or any other form of entity or group (as defined in Section 13(d)(3) of the Exchange Act) not specifically listed herein. 

“Preferred Shares” has the meaning set forth in the Recitals, and also includes any securities into which the Preferred
Shares may hereafter be reclassified or changed. 
 “Preferred Stock” has the meaning set forth in the
Recitals. 
 “Private Placement” has the meaning set forth in the Recitals. 

“Proceeding” means a civil, criminal or administrative action, claim, litigation, suit, arbitration, hearing,
investigation or other proceeding (including, without limitation, an investigation or partial proceeding, such as a deposition), whether commenced or threatened. 
 “Purchase Price” has the meaning set forth in Section 2.1(a). 
 “Purchaser” has the meaning set forth in the Preamble. 

“Regulation D” has the meaning set forth in the Recitals. 

“Regulatory Agreement” has the meaning set forth in Section 3.1(dd). 

  
 4 

 “Representatives” of any Person means the Affiliates, officers, directors,
employees, members, managers, partners, attorneys, accountants, financial advisors and other agents, advisors and representatives of such Person. 
 “Required Filings” has the meaning set forth in Section 3.1(e). 
 “Rule 144” means Rule 144 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended from time to time, or any similar rule or regulation hereafter adopted
by the Commission having substantially the same effect as such Rule. 
 “Securities Act” means the Securities
Act of 1933, as amended. 
 “Series A Preferred Stock” means the Series A Preferred Stock of the Company,
having such designations, powers, preferences and relative rights as are set forth in the Constituent Documents of the Company. 

“Series B Preferred Stock” means the Series B Preferred Stock of the Company, having such designations, powers,
preferences and relative rights as are set forth in the Constituent Documents of the Company. 
 “Series C Preferred
Stock” means the Series C Convertible Preferred Stock of the Company, having such designations, powers, preferences and relative rights as are set forth in the Articles of Amendment designating the Series C Convertible Preferred Stock, in
form attached hereto as Exhibit E. 
 “Shares” means the Common Shares and Preferred Shares purchased by
the Purchaser under this Agreement. 
 “Stock Certificates” has the meaning set forth in
Section 2.2(a)(ii). 
 “Subscription Amount” has the meaning set forth in Section 2.1(a). 

“Subsidiary” means any Person in which the Company, directly or indirectly, owns or Controls sufficient capital stock,
equity or a similar interest such that it is consolidated with the Company in the financial statements of the Company. 

“Tax” or “Taxes” means (i) any federal, state, local or foreign income, gross receipts, property, sales,
use, license, excise, franchise, employment, payroll, withholding, alternative or add on minimum, ad valorem, transfer or excise tax, or any other tax, custom, duty, governmental fee or other like assessment or charge of any kind whatsoever,
together with any interest or penalty, imposed by any Governmental Authority and (ii) any liability in respect of any items described in clause (i) above payable by reason of contract, assumption, transferee or successor liability,
operation of law, Treasury Regulations Section 1.1502-6(a) (or any predecessor or successor thereof or analogous or similar provisions of Law) or otherwise. 
 “Tax Return” means any return, declaration, report or similar statement required to be filed with respect to any Tax (including any attached schedules), including, without limitation, any
information return, claim for refund, amended return or declaration of estimated Tax. 

  
 5 

 “Third Party Claim” has the meaning set forth in Section 4.6(b).

 “Transfer Agent” means the Bank, in its capacity as transfer agent for the Company, or any successor
transfer agent for the Company. 
 “Unaudited Financial Statements” has the meaning set forth in
Section 3.1(i). 
 “VCOC Letter” means the agreement between the Company and the Purchaser in form
attached hereto as Exhibit F. 
 ARTICLE II 
 PURCHASE AND SALE 
 2.1 Closing. 

(a) Purchase and Sale of the Shares. On the terms and subject to the conditions set forth in this Agreement, at the Closing, the
Company agrees to issue, sell, convey and transfer to the Purchaser, and the Purchaser agrees to purchase from the Company, for its own account, free and clear of all Liens: (i) 523,863 Common Shares and (ii) 1,680,219 Preferred Shares.
The purchase price for the Shares will be $12.25 per Share (“Purchase Price”), and the aggregate Purchase Price for the Shares will be equal to $27,000,004.50 (“Subscription Amount”). 

(b) Closing. The Closing of the purchase and sale of the Shares will take place remotely by facsimile or electronic transmission
or other means as the parties may mutually agree. 
 (c) Withholding. Notwithstanding anything to the contrary in this
Agreement, the Purchaser shall be entitled to deduct and withhold from any payments made pursuant to this Agreement such amounts as may be required to be deducted and withheld with respect to the making of such payment under any provision of
federal, state, local or foreign Tax Law or imposed by any taxing authority. To the extent amounts are so withheld and paid over to the appropriate taxing authority, the withheld amounts shall be treated for all purposes of this Agreement as having
been paid to the party in respect of which such deduction and withholding was made. 
 2.2 Closing Deliveries.

 (a) At or prior to the Closing, the Company will issue, deliver or cause to be delivered to the Purchaser the following:

 (i) this Agreement and the VCOC Letter, duly executed and delivered by the Company; 

(ii) two (2) stock certificates, free and clear of all restrictive and other legends (except as expressly provided in
Section 4.1(b)), evidencing the Shares, registered in the name of the Purchaser or as otherwise set forth on the Purchaser’s Stock Certificate Questionnaire included as Exhibit A hereto (“Stock Certificates”);

  
 6 

 (iii) the opinion of Fenimore, Kay, Harrison & Ford, LLP, dated as
of the date hereof, in the form attached hereto as Exhibit B; 
 (iv) a certificate of the Secretary of
the Company, in the form attached hereto as Exhibit C, dated as of the date hereof, (a) certifying the resolutions adopted by the Board of Directors approving the transactions contemplated by this Agreement, including the issuance of the
Shares, (b) certifying the current versions of the Constituent Documents of the Company, and (c) certifying as to the signatures and authority of the individuals signing this Agreement and related documents on behalf of the Company; and

 (v) a Certificate of Good Standing for the Company from the Louisiana Secretary of State dated as of
June 22, 2011. 
 (b) At or prior to the Closing, the Purchaser will deliver or cause to be delivered to the Company the
following: 
 (i) this Agreement and the VCOC Letter, duly executed and delivered by the Purchaser; 

(ii) the Subscription Amount, in U.S. dollars and in immediately available funds, by wire transfer in accordance with the
Company’s written instructions; and 
 (iii) a fully completed Stock Certificate Questionnaire in the form
attached hereto as Exhibit A. 
 ARTICLE III 

REPRESENTATIONS AND WARRANTIES 
 3.1 Representations and Warranties of the Company. The Company hereby represents and warrants as of the date hereof (except for the representations and warranties that speak as of a specific date,
which are made as of such date) to the Purchaser that: 
 (a) Subsidiaries. The Company has no direct or indirect
Subsidiaries or equity interest in any other Person other than as set forth on Schedule 3.1(a). The Company owns, directly or indirectly, all of the capital stock or comparable equity interests of each Subsidiary free and clear of any and all
Liens, and all the issued and outstanding shares of capital stock or comparable equity interests of each Subsidiary are validly issued and are fully paid, non-assessable (except to the extent that stock of a Louisiana state bank may be assessable
under La R.S. 6:262) and free of preemptive and similar rights to subscribe for or purchase securities. 
 (b) Organization
and Qualification; Bank Regulations. 
 (i) Each of the Company and its Subsidiaries is an entity duly
incorporated or otherwise organized, validly existing and in good standing under the Laws of the jurisdiction of its incorporation or organization (as applicable), with the requisite power and authority to own or lease and use its properties and
assets and to carry on its business as currently conducted. Neither the Company nor any of its 

  
 7 

 Subsidiaries is in violation of any of the provisions of their respective Constituent
Documents. Each of the Company and its Subsidiaries is duly qualified to conduct business and is in good standing as a foreign corporation or other entity in each jurisdiction in which the nature of the business conducted or property owned by it
makes such qualification necessary, except where the failure to be so qualified or in good standing, as the case may be, has not had and would not reasonably be expected to have a Material Adverse Effect. 

(ii) The Company is duly registered as a bank holding company under the Bank Holding Company Act of 1956, as amended (the
“BHC Act”). First NBC Bank holds the requisite authority from the Louisiana Office of Financial Institutions (the “OFI”) to do business as a Louisiana state bank under the Laws of the State of Louisiana. The Company
and its Subsidiaries are in compliance, in all material respects, with all Laws administered by the Board of Governors of the Federal Reserve System (the “Federal Reserve”), the Federal Deposit Insurance Corporation (the
“FDIC”), the OFI and any other federal or state bank regulatory authorities (together with the OFI, the Federal Reserve and the FDIC, the “Bank Regulatory Authorities”) with jurisdiction over the Company and its
Subsidiaries. The deposit accounts of the Bank are insured up to applicable limits by the FDIC, and all premiums and assessments required to be paid in connection therewith have been paid when due. 

(c) Authorization; Enforcement; Validity. The Company has the requisite corporate power and authority to enter into this Agreement
and to consummate the transactions contemplated hereby and otherwise to carry out its obligations hereunder, including, without limitation, to issue the Shares in accordance with the terms hereof. The execution and delivery by the Company of this
Agreement, and the consummation by the Company of the transactions contemplated hereby (including, but not limited to, the sale and delivery of the Shares), have been duly authorized by all necessary corporate action on the part of the Company and
its Board of Directors, and no further corporate action is required by the Company, its Board of Directors or its shareholders in connection therewith, other than in connection with the Required Filings. This Agreement has been duly executed by the
Company, and assuming the due authorization, execution and delivery of this Agreement by the Purchaser, will constitute the legal, valid and binding obligation of the Company enforceable against it in accordance with its terms, except (i) as
such enforceability may be limited by applicable bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium, liquidation or similar Laws relating to, or affecting generally the enforcement of, creditors’ rights and remedies or by
other equitable principles of general application; (ii) as limited by Laws relating to the availability of specific performance, injunctive relief or other equitable remedies; and (iii) insofar as indemnification and contribution
provisions may be limited by applicable Law. There are no shareholder agreements, voting agreements, voting trust agreements or similar agreements with respect to the Company’s capital stock to which the Company is a party or, to the
Company’s Knowledge, between or among any of the Company’s shareholders. 
 (d) No Conflicts. The execution,
delivery and performance by the Company of this Agreement and the consummation by the Company of the transactions contemplated hereby (including, without limitation, the issuance of the Shares) do not and will not (i) conflict with or violate
the Constituent Documents of the Company or any Subsidiary; (ii) result in the 

  
 8 

 
creation or imposition of any Lien on the Shares or any of the assets or properties of the Company or any Subsidiary; (iii) conflict with, violate or constitute a default (or an event which
with notice or lapse of time or both would become a default) or result in the loss of a benefit under, or give to any other Person any right of termination, amendment, acceleration or cancellation of, any agreement, indenture or instrument to which
the Company or any Subsidiary is a party; or (iv) conflict with, violate or constitute a default (or an event which with notice or lapse of time or both would become a default) or result in the loss of a benefit under any federal, state, local
or foreign statute, ordinance, law, rule, regulation, order, judgment, decree, agency requirement or legal requirement (including federal and state securities laws) (each, a “Law”) applicable to the Company or any Subsidiary, except
in the case of clauses (iii) and (iv) above, for such conflicts, defaults, rights or violations which would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 

(e) Filings, Consents and Approvals. The execution, delivery and performance by the Company of this Agreement and the transactions
contemplated by this Agreement will not require any action by, or in respect of, or filing with, any federal, state, local or other Governmental Authority, self-regulatory organization or other Person, other than (i) the filing of a Notice of
Exempt Offering of Securities on Form D with the Commission under Regulation D of the Securities Act, (ii) the requisite filings under state securities Laws to qualify the offering of Shares for exemptions from securities registration, and
(iii) the filing with the Louisiana Secretary of State of Articles of Amendment with respect to the Series C Preferred Stock (collectively, the “Required Filings”). 

(f) Issuance of the Shares. The Shares have been duly authorized and, when issued and delivered in accordance with the terms of
this Agreement, against payment of the Subscription Amount, will be fully paid, non-assessable, free and clear of all Liens (other than restrictions on transfer provided for in this Agreement or imposed by applicable securities Laws), and free of
any preemptive or similar rights. 
 (g) Capitalization. As of the date hereof, the authorized capital stock of the
Company consists of (i) 20,000,000 shares of Common Stock, of which as of the date hereof, (A) 10,167,224 shares of Common Stock are issued and outstanding (which includes 25,667 shares of issued but unvested shares of restricted stock),
and (B) 823,892 shares of Common Stock are reserved for issuance upon the exercise of stock options, warrants or other securities that are or may become convertible into or exercisable or exchangeable for shares of Common Stock, of which
(1) 439,324 options to purchase shares of Common Stock are issued and outstanding under the Company’s Stock Incentive Plan as set forth on Schedule 3.1(g), (2) 249,559 warrants to purchase shares of Common Stock are issued and
outstanding as set forth on Schedule 3.1(g), and (3) 135,009 shares of Common Stock remain available for issuance under the Company’s Stock Incentive Plan, and (ii) 10,000,000 shares of Preferred Stock, of which 18,728 shares
are issued and outstanding and (A) 17,836 of the issued and outstanding shares of Preferred Stock are classified as Series A Preferred Stock and (B) 892 of the issued and outstanding shares of Preferred Stock are classified as Series B
Preferred Stock. All of the issued and outstanding shares of capital stock of the Company have been duly authorized and validly issued and are fully paid and non-assessable, have been issued in compliance in all material respects with all applicable
federal and state securities Laws, and none of such outstanding shares was issued in violation of any preemptive rights or similar rights to subscribe for or purchase any capital stock 

  
 9 

 
of the Company. Except as disclosed on Schedule 3.1(g), (i) none of the capital stock of the Company is subject to preemptive rights or any other similar rights; (ii) there are
no outstanding options or other equity-based awards, warrants, scrip, rights to subscribe to, calls, agreements, arrangements or commitments of any character whatsoever relating to, or securities or rights convertible into, or exercisable or
exchangeable for, or evidencing the right to subscribe for, purchase or receive any shares of capital stock of the Company or any Subsidiary, (iii) there are no contracts, commitments, understandings or arrangements by which the Company or any
Subsidiary is or may become bound to issue additional shares of capital stock of the Company or any Subsidiary or options or other equity-based awards, warrants, scrip, rights to subscribe to, calls or commitments of any character whatsoever
relating to, or securities or rights convertible into, or exercisable or exchangeable for, or evidencing the right to subscribe for, purchase or receive any shares of capital stock of the Company or any Subsidiary; (iv) there are no material
outstanding debt securities, notes, credit agreements, credit facilities or other agreements, arrangements, commitments, documents or instruments evidencing indebtedness of the Company or any Subsidiary or by which the Company or any Subsidiary is
bound, other than credit agreements or facilities entered into by the Bank in the ordinary course of its business; (v) there are no agreements, commitments, understandings or arrangements under which the Company or any Subsidiary is obligated
to register the sale of any of the securities of the Company or any Subsidiary under the Securities Act; (vi) there are no outstanding securities or instruments, agreements, commitments, understandings or arrangements of the Company or any
Subsidiary that contain any redemption or similar provisions, and there are no contracts, commitments, understandings or arrangements by which the Company or any Subsidiary is or may become bound to sell, transfer, dispose, repurchase or redeem a
security of the Company or any Subsidiary; (vii) there are no securities or instruments containing anti-dilution or similar provisions that will be triggered by the issuance of the Shares; (viii) the Company does not have any stock
appreciation rights or “phantom stock” plans or agreements or any similar plan or agreement; and (ix) neither the Company nor any Subsidiary has any material liabilities or obligations not disclosed on the Company’s Financial
Statements or disclosed in the notes thereto. Each option to purchase shares of Common Stock was granted with an exercise price per share equal to or greater than the per share fair market value (as such term is used in Code Section 409A and
the Department of Treasury regulations and other interpretive guidance issued thereunder) of the Common Stock underlying such option on the grant date thereof and was otherwise issued in compliance with the requirements of the Code and applicable
Laws. Each option to purchase shares of Common Stock that was issued as an “incentive stock option” pursuant to Section 422 of the Code complied at the time of its grant and continues to comply with all of the requirements of the Code
and the regulations thereunder pertaining to “incentive stock options.” 
 (h) Reports, Registrations and
Statements. Since January 1, 2011, the Company and its Subsidiaries have filed all material reports, registrations and statements, together with any required amendments thereto, that they were required to file with the Bank Regulatory
Authorities and any other applicable foreign, federal or state securities or banking authorities, including, without limitation, all financial statements and financial information required to be filed by it under the Federal Deposit Insurance Act
and the BHC Act, and have paid all fees and assessments due and payable in connection therewith. All such reports and statements filed with any such regulatory body or authority are collectively referred to herein as the “Company
Reports.” All such Company Reports were filed on a timely basis or the 

  
 10 

 
Company or its Subsidiaries, as applicable, received a valid extension of such time of filing and has filed any such Company Reports prior to the expiration of any such extension. As of their
respective dates, the Company Reports complied in all material respects with all the rules and regulations promulgated by the Bank Regulatory Authorities and any other applicable foreign, federal or state securities or banking authorities, as the
case may be. 
 (i) Financial Statements. The audited consolidated balance sheets of the Company and its Subsidiaries as
of December 31, 2008, December 31, 2009, December 31, 2010 and the related audited consolidated statements of income, shareholders’ equity and cash flows for the year then ended (the “Audited Financial
Statements”) and the unaudited consolidated balance sheets of the Company and its Subsidiaries as of March 31, 2011 and the related unaudited consolidated statements of income for the periods then ended (the “Unaudited
Financial Statements,” and collectively with the Audited Financial Statements, the “Financial Statements”), have been delivered to Purchaser prior to the date hereof. The Financial Statements comply in all material respects
with applicable accounting requirements and the rules and regulations of the applicable Government Authority with respect thereto as in effect at the time of filing. Such Financial Statements have been prepared in accordance with GAAP applied on a
consistent basis during the periods involved, except as may be otherwise specified in such Financial Statements or the notes thereto and except that the Unaudited Financial Statements may not contain all footnotes required by GAAP. The Financial
Statements fairly present in all material respects the balance sheet of the Company and its Subsidiaries taken as a whole as of and for the dates thereof and the results of operations and cash flows for the periods then ended, subject, in the case
of the Unaudited Financial Statements, to normal, year-end audit adjustments, which would not be material, either individually or in the aggregate. 
 (j) Tax Matters. Except as disclosed on Schedule 3.1(j), each of the Company and its Subsidiaries (i) has prepared and timely filed all foreign, federal and state income and all other
material Tax Returns and all such Tax Returns were complete and correct in all material respects; (ii) has paid all Taxes and other governmental assessments and charges that are material in amount, whether or not shown or determined to be due
on such Tax Returns, except those being contested in good faith, with respect to which adequate reserves have been set aside on the books of the Company in accordance with GAAP; (iii) has set aside on its books provisions reasonably adequate
for the payment of all material Taxes for periods subsequent to the periods to which such returns, reports or declarations apply; (iv) is not subject to any outstanding audit, assessment, dispute or claim concerning any material Tax liability
of the Company or any of its Subsidiaries either within the Company’s Knowledge or claimed, pending or raised by an authority in writing; (v) is not a party to, bound by or otherwise subject to any obligation under any Tax sharing or Tax
indemnity agreement or similar contract or arrangement; and (vi) has not participated in a “listed transaction” within the meaning of Treasury Regulation Section 1.6011- 4(b)(2). 

(k) Material Changes. Since December 31, 2010, except as disclosed on Schedule 3.1(k), (i) there have been no
events, circumstances, changes, occurrences or developments that have had or would reasonably be expected to have, either individually or in the aggregate, a Material Adverse Effect; (ii) the Company has not incurred any material liabilities
(contingent or otherwise) other than (A) trade payables, accrued expenses and other liabilities incurred in the ordinary course of business consistent with past practice and 

  
 11 

 
(B) liabilities not required to be reflected in the Financial Statements pursuant to GAAP; (iii) the Company has not altered materially its method of accounting or the manner in which it
keeps its accounting books and records; (iv) the Company has not declared or made any dividend or distribution of cash or other property to its shareholders or purchased, redeemed or made any agreement, arrangement, commitment or understanding
to purchase or redeem any shares of its capital stock; (v) the Company has not issued any equity securities to any officer, director or Affiliate, except Common Stock issued pursuant to existing Company stock option plans disclosed on
Schedule 3.1(g); and (vi) there has not been any material change or amendment to, or any waiver of any material right by the Company under, any Material Contract under which the Company or any of its Subsidiaries is bound or subject.

 (1) Environmental Matters. Neither the Company nor any Subsidiary (i) is in violation of any Law relating to the
use, disposal or release of hazardous or toxic substances or relating to the protection or restoration of the environment or human exposure to hazardous or toxic substances (collectively, “Environmental Laws”); (ii) owns or
operates any real property contaminated with any substance that is in violation of any Environmental Laws; (iii) is liable for any off-site disposal or contamination pursuant to any Environmental Laws; or (iv) is subject to any claim
relating to any Environmental Laws; in each case, which violation, contamination, liability or claim has had or would reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect; and, to the Company’s Knowledge,
there is no pending or threatened investigation that might lead to such a claim. To the Company’s Knowledge, there are no circumstances or conditions (including the presence of asbestos, underground storage tanks, lead products, polychlorinated
biphenyls, prior manufacturing operations, dry-cleaning or automotive services) involving the Company or any of its Subsidiaries, or any currently or formerly owned or operated property of the Company or any of its Subsidiaries, that could
reasonably be expected to result in any claim, liability, investigation, cost or restriction against the Company or any of its Subsidiaries, or result in any restriction on the ownership, use, or transfer of any property pursuant to any
Environmental Law, or adversely affect the value of any currently owned property of the Company or any of its Subsidiaries. 

(m) Litigation. There is no Action that (i) adversely affects or challenges the legality, validity or enforceability of this
Agreement or the transactions contemplated hereby (including the issuance of the Shares hereunder) or (ii) has had or would reasonably be expected to have a Material Adverse Effect, individually or in the aggregate, if there was an unfavorable
decision. Neither the Company nor any Subsidiary, nor any director or officer thereof, is or has been the subject of any Action involving a claim of violation of or liability under federal or state securities Laws or a claim of breach of fiduciary
duty. There has not been, and to the Company’s Knowledge there is not pending or contemplated, any investigation by the Commission involving the Company or any current or former director or officer of the Company. There are no outstanding
orders, judgments, injunctions, awards or decrees of any Governmental Authority against the Company or any executive officers or directors of the Company in their capacities as such which, individually or in the aggregate, has had or would
reasonably be expected to have a Material Adverse Effect. 
 (n) Employment Matters. No strike, grievance, or labor
dispute exists or, to the Company’s Knowledge, is threatened with respect to any of the employees of the Company or any Subsidiary. Neither the Company nor any Subsidiary is a party to any collective

  
 12 

 
bargaining agreement or employs any member of a union that relates to such employee’s relationship with the Company or any Subsidiary and, to the Company’s Knowledge, there is no
activity involving its employees seeking to certify a collective bargaining unit or engaging in other organizational activity. To the Company’s Knowledge, no executive officer is, or is now expected to be, in violation of any material term of
any employment contract, confidentiality, disclosure or proprietary information agreement or non-competition agreement, or any other contract or agreement or any restrictive covenant in favor of a third party, and the continued employment of each
such executive officer does not subject the Company or any Subsidiary to any material liability with respect to any of the foregoing matters. The Company and each Subsidiary is in compliance in all material respects with all U.S. federal, state,
local and foreign Laws and regulations relating to employment and fair employment practices, immigration, terms and conditions of employment, compensation, benefits, employment discrimination and harassment, workers compensation, occupational safety
and health, and wages and hours. Neither the Company nor any Subsidiary is a party to or otherwise bound by any consent decree with or citation by any Governmental Authority relating to employees or employment practices. As of the date of this
Agreement, no material employee has given notice to the Company or any of its Subsidiaries of his or her intent to terminate his or her employment or service relationship with the Company or any of its Subsidiaries. The Company and its Subsidiaries
are in material compliance with all Laws concerning the classification of employees and independent contractors and have properly classified all such individuals for purposes of participation in employee benefit plans. 

(o) Compliance. The Company and its Subsidiaries are in material compliance with all Laws of any Governmental Authority applicable
to their respective businesses or operations. Neither the Company nor any Subsidiary (i) is in default under or in violation of (and no event has occurred that has not been waived that, with notice or lapse of time or both, would result in a
default by the Company or any Subsidiary under), nor has the Company or any Subsidiary received written notice of a claim that it is in default under or that it is in violation of, any Material Contract (whether or not such default or violation has
been waived); (ii) is in violation of any order of any Governmental Authority having jurisdiction over the Company, any Subsidiary or their respective properties or assets; or (iii) is in violation of, or in receipt of written notice that
it is in violation of, any Law of any Governmental Authority or self-regulatory organization applicable to the Company or any Subsidiary, except in each case as has not had or would not have or reasonably be expected to have, individually or in the
aggregate, a Material Adverse Effect. 
 (p) Regulatory Permits. The Company and each of its Subsidiaries possess all
material certificates, authorizations, consents, licenses, franchises, variances, exemptions, orders, approvals and permits issued by the appropriate Governmental Authorities necessary to conduct their respective businesses as currently conducted
(“Material Permits”), and (i) neither the Company nor any Subsidiary has received any notice in writing of Actions relating to the revocation or material adverse modification of any such Material Permits and (ii) the
Company is unaware of any facts or circumstances that would give rise to the suspension, revocation or material adverse modification of any Material Permits. 

  
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 (q) Title to Assets; Real Property. Each of the Company and its Subsidiaries has good
and marketable title to all real property and tangible personal property owned by it that is material to the business of the Company and its Subsidiaries, taken as a whole, in each case free and clear of all Liens except such as do not materially
affect the value of such property and do not interfere with the use made and proposed to be made of such property by the Company or such Subsidiary, as applicable. Any real property and facilities held under lease by the Company or any of its
Subsidiaries is held by such party under a valid, subsisting and enforceable lease with such exceptions as are not material and do not interfere with the use made and proposed to be made of such property and facilities by the Company or such
Subsidiary, as applicable. No notice of a claim of default by any party to any lease entered into by the Company or any of its Subsidiaries has been delivered to either the Company or any of its Subsidiaries or is now pending, and there does not
exist any event or circumstance that with notice or passing of time, or both, would constitute a default or excuse performance by any party thereto. None of the owned or leased premises or properties of the Company or any of its Subsidiaries is
subject to any current or potential interests of third parties or other restrictions or limitations that would impair or be inconsistent in any material respect with the current use of such property by the Company or any of its Subsidiaries, as the
case may be. 
 (r) Intellectual Property; Privacy. Each of the Company and its Subsidiaries owns, possesses, licenses or
has other rights to use all foreign and domestic patents, patent applications, trade and service marks, trade and service mark registrations, brand names, trade names, copyrights, designs, inventions, trade secrets, technology, Internet domain
names, know-how and other intellectual property (collectively, the “Intellectual Property”), free and clear of all Liens and third party rights, necessary for the conduct of their respective businesses as currently conducted, except
where the failure to own, possess, license or have such rights has not had and would not have or reasonably be expected to have a Material Adverse Effect. Except where such violations, misappropriations, infringements or unauthorized use would not
be material to the Company and its Subsidiaries, taken as a whole, (i) there are no rights of third parties to any such Intellectual Property; (ii) there is no infringement, misappropriation or unauthorized use by third parties of any such
Intellectual Property; (iii) there is no pending or threatened Action by any Person challenging the Company’s and/or any Subsidiary’s rights in or to any such Intellectual Property; (iv) there is no pending or threatened Action
by any Person challenging the validity or scope of any such Intellectual Property; and (v) there is no pending or threatened Action by any Person that the Company and/or any Subsidiary infringes, misappropriates or otherwise violates any
Intellectual Property of any other Person. The Company and its Subsidiaries comply in all material respects with all Laws with respect to the protection of personal privacy, personally identifiable information, sensitive personal information and any
special categories of personal information regulated thereunder. 
 (s) Insurance. Each of the Company and its
Subsidiaries is insured by insurers of recognized financial responsibility against such losses and risks and in such amounts as the Company believes to be prudent and customary in the businesses and locations in which the Company and its
Subsidiaries are engaged. All premiums due and payable under all such policies and bonds have been timely paid, and the Company and its Subsidiaries are in material compliance with the terms of such policies and bonds. Neither the Company nor any of
its Subsidiaries has received any notice of cancellation of any such insurance, nor, to the Company’s Knowledge, will it or any Subsidiary be unable to renew their respective existing insurance coverage as and when such coverage expires or to
obtain similar coverage from similar insurers as may be necessary to continue its business at a cost that would be materially higher than their existing insurance coverage. 

  
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 (t) Transactions With Affiliates and Employees. None of the officers, directors,
employees or Affiliates of the Company or any of its Subsidiaries is presently a party to any contract, arrangement or transaction with the Company or any of its Subsidiaries or to a presently contemplated contract, arrangement or transaction (other
than for services as employees, officers and directors) that would be required to be disclosed pursuant to Item 404 of Regulation S-K promulgated under the Securities Act if such item were applicable to the Company. 

(u) Internal Accounting Controls. The Company maintains a system of internal accounting controls sufficient to provide reasonable
assurance that (i) transactions are executed in accordance with management’s general or specific authorizations, (ii) transactions are recorded as necessary to permit preparation of financial statements in conformity with GAAP and to
maintain asset and liability accountability, (iii) access to assets or incurrence of liabilities is permitted only in accordance with management’s general or specific authorization, and (iv) the recorded accountability for assets and
liabilities is compared with the existing assets and liabilities at reasonable intervals and appropriate action is taken with respect to any difference. The Company has not been advised of any material deficiencies in the design or operation of
internal controls over financial reporting which could reasonably be expected to adversely affect the Company’s ability to record, process, summarize and report financial data, or any fraud, whether or not material, that involves management.
Since January 1, 2011, no material weakness in internal controls has been identified by the Company’s auditors; and since the date of the most recent evaluation thereof, there have been no significant changes in internal controls that
could reasonably be expected to materially and adversely affect internal controls. 
 (v) No Integrated Offering.
Assuming the accuracy of the Purchaser’s representations and warranties set forth in Section 3.2 of this Agreement and assuming the accuracy of the representations and warranties of each other Person who purchased Common Stock during the
past six (6) months, none of the Company, any Subsidiary nor, to the Company’s Knowledge, any of its Affiliates or any Person acting on its behalf has, directly or indirectly, at any time within the past six (6) months, made any
offers or sales of any Company security or solicited any offers to buy any security under circumstances that would cause such offers and sales to be integrated for purposes of Regulation D with the offer and sale by the Company of the Shares or that
otherwise would cause the exemption from registration under Regulation D to be unavailable in connection with the offer and sale by the Company of the Shares. 
 (w) Investment Company. The Company is not, and immediately after receipt of payment for the Shares will not be, an “investment company,” an “affiliated person” of,
“promoter” for or “principal underwriter” for, an entity “controlled” by an “investment company,” within the meaning of the Investment Company Act of 1940, as amended. 

(x) Unlawful Payments. Neither the Company nor any of its Subsidiaries, nor any directors, officers, nor to the Company’s
Knowledge, employees, agents or other Persons acting at the direction of or on behalf of the Company or any Subsidiary has, in the course of its 

  
 15 

 
actions for, or on behalf of, the Company or any of its Subsidiaries: (i) directly or indirectly, used any corporate funds for unlawful contributions, gifts, entertainment or other unlawful
expenses relating to foreign or domestic political activity; (ii) made any direct or indirect unlawful payments to any foreign or domestic governmental officials or employees or to any foreign or domestic political parties or campaigns from
corporate funds; (iii) violated any provision of the Foreign Corrupt Practices Act of 1977, as amended; or (iv) made any other unlawful bribe, rebate, payoff, influence payment, kickback or other material unlawful payment to any foreign or
domestic government official or employee. 
 (y) Application of Takeover Protections; Rights Agreements. The Company has
not adopted any stockholder rights plan or similar agreement, arrangement or understanding relating to accumulations of beneficial ownership of Common Stock or a change in control of the Company. The Company and its Board of Directors have taken all
action necessary to render inapplicable any control share acquisition, business combination, fair price, moratorium, poison pill (including any distribution under a rights agreement) or other similar anti-takeover provision under applicable Law, the
Company’s Constituent Documents or any agreement, arrangement or understanding with any of the Company’s shareholders or any other Person that is or could become applicable to the Purchaser as a direct consequence of the transactions
contemplated by this Agreement, including, without limitation, the Company’s issuance of the Shares to the Purchaser and the Purchaser’s ownership of the Shares. 
 (z) Off Balance Sheet Arrangements. There is no material agreement, commitment, transaction, arrangement, or other relationship between the Company (or any of its Subsidiaries) and any
unconsolidated or other off balance sheet entity. 
 (aa) OFAC. Neither the Company nor any Subsidiary nor, to the
Company’s Knowledge, any director, officer, agent, employee, Affiliate or Person acting on behalf of the Company or any Subsidiary is currently subject to any U.S. sanctions administered by the Office of Foreign Assets Control of the U.S.
Treasury Department (“OFAC”); and the Company will not knowingly, directly or indirectly, use the proceeds of the sale of the Shares, or lend, contribute or otherwise make available such proceeds to any Subsidiary, joint venture
partner or other Person or entity, towards any sales or operations in any country sanctioned by OFAC or for the purpose of financing the activities of any Person currently subject to any U.S. sanctions administered by OFAC. 

(bb) No Additional Agreements. The Company has no other agreements, arrangements or understandings (including, without limitation,
side letters) with any Person to issue shares of capital stock of the Company on terms more favorable to such Person than as set forth herein. 
 (cc) Well Capitalized. As of March 31, 2011, the Bank was “well capitalized” under applicable FDIC regulations for prompt corrective action. 

(dd) Agreements with Regulatory Agencies. Except as disclosed on Schedule 3.1(dd), neither the Company nor any of its
Subsidiaries is subject to any cease-and-desist or other similar order or enforcement action issued by, or is a party to any written agreement, consent agreement or memorandum of understanding with, or is a party to any commitment letter

  
 16 

 
or similar undertaking to, or is subject to any capital directive by, or since January 1, 2010, has adopted any board resolutions at the request of, any Governmental Authority that currently
restricts in any material respect the conduct of its business or that in any material manner relates to its capital adequacy, its liquidity and funding policies and practices, its ability to pay dividends, its credit, risk management or compliance
policies, its internal controls, its management or its operations or business (each item in this sentence, a “Regulatory Agreement”), nor has the Company or any Subsidiary been advised since January 1, 2010 by any Governmental
Authority that it is considering issuing, initiating, ordering, or requesting any such Regulatory Agreement. The Company and its Subsidiaries are in compliance in all material respects with each Regulatory Agreement to which it is party or subject,
and neither the Company nor any of its Subsidiaries has received any notice from any Governmental Authority indicating that the Company or any of its Subsidiaries is not in compliance in all material respects with any such Regulatory Agreement.

 (ee) Fiduciary Obligations. The Company and its Subsidiaries have, in all material respects, properly administered all
accounts for which it acts as a fiduciary, including accounts for which it serves as a trustee, agent, custodian, personal representative, guardian, conservator or investment advisor, in accordance with the terms of the governing documents,
applicable federal and state Law and regulation and common law. None of the Company, its Subsidiaries or any director, officer or employee of the Company or its Subsidiaries has, in any material respect, committed any breach of trust or fiduciary
duty with respect to any such fiduciary account and the accountings for each such fiduciary account are true and correct in all material respects and accurately reflect the assets of such fiduciary account. 

(ff) No General Solicitation or General Advertising. Neither the Company nor any Person acting on its behalf has engaged or will
engage in any form of general solicitation or general advertising (within the meaning of Regulation D) in connection with any offer or sale of the Shares. 
 (gg) Mortgage Banking Business. Except as has not had and would not reasonably be expected to have a Material Adverse Effect: 

(i) The Company and its Subsidiaries have complied with, and all documentation in connection with the origination,
processing, underwriting and credit approval of any mortgage loan originated, purchased or serviced by the Company or its Subsidiaries satisfied, (A) all applicable federal, state and local Laws, rules and regulations with respect to the
origination, insuring, purchase, sale, pooling, servicing, subservicing, or filing of claims in connection with mortgage loans, including all Laws relating to real estate settlement procedures, consumer credit protection, truth in lending Laws,
usury limitations, fair housing, transfers of servicing, collection practices, equal credit opportunity and adjustable rate mortgages, (B) the responsibilities and obligations relating to mortgage loans set forth in any agreement between the
Company or its Subsidiaries and any Agency, Loan Investor or Insurer, (C) the applicable rules, regulations, guidelines, handbooks and other requirements of any Agency, Loan Investor or Insurer and (D) the terms and provisions of any
mortgage or other collateral documents and other loan documents with respect to each mortgage loan; and 

  
 17 

 (ii) No Agency, Loan Investor or Insurer has (A) claimed in writing
that the Company or any of its Subsidiaries has violated or has not complied with the applicable underwriting standards with respect to mortgage loans sold by the Company or any of its Subsidiaries to a Loan Investor or Agency, or with respect to
any sale of mortgage servicing rights to a Loan Investor, (B) imposed in writing restrictions on the activities (including commitment authority) of the Company or any of its Subsidiaries or (C) indicated in writing to the Company or any of
its Subsidiaries that it has terminated or intends to terminate its relationship with the Company or any of its Subsidiaries for poor performance, poor loan quality or concern with respect to the Company’s or any of its Subsidiaries’
compliance with Laws. 
 For purposes of this Section 3.1(gg): (A) “Agency” means the Federal Housing
Administration, the Federal Home Loan Mortgage Corporation, the Farmers Home Administration (now known as Rural Housing and Community Development Services), the Federal National Mortgage Association, the United States Department of Veterans’
Affairs, the Rural Housing Service of the U.S. Department of Agriculture or any other Governmental Authority with authority to (i) determine any investment, origination, lending or servicing requirements with regard to mortgage loans
originated, purchased or serviced by the Company or any of its Subsidiaries or (ii) originate, purchase, or service mortgage loans, or otherwise promote mortgage lending, including state and local housing finance authorities;
(B) “Loan Investor” means any Person (including an Agency) having a beneficial interest in any mortgage loan originated, purchased or serviced by the Company or any of its Subsidiaries or a security backed by or representing an
interest in any such mortgage loan; and (C) “Insurer” means a Person who insures or guarantees for the benefit of the mortgagee all or any portion of the risk of loss upon borrower default on any of the mortgage loans
originated, purchased or serviced by the Company or any of its Subsidiaries, including the Federal Housing Administration, the United States Department of Veterans’ Affairs, the Rural Housing Service of the U.S. Department of Agriculture and
any private mortgage insurer, and providers of hazard, title or other insurance with respect to such mortgage loans or the related collateral. 
 (hh) Risk Management Instruments. All material derivative instruments, including, swaps, caps, floors, warrants, options, forward purchase or sale transactions, and futures transactions, whether
entered into for the Company’s own account, or for the account of one or more of its Subsidiaries, were entered into (1) only in the ordinary course of business, (2) in accordance with prudent practices and in all material respects
with all applicable Laws, rules, regulations and regulatory policies and (3) with counterparties believed to be financially responsible at the time; and each of them constitutes the valid and legally binding obligation of the Company or its
Subsidiary, enforceable in accordance with its terms. Neither the Company nor its Subsidiaries, nor, to the Company’s Knowledge, any other party thereto, is in breach of any of its material obligations under any such agreement or arrangement.

 (ii) ERISA. The Company and its Subsidiaries are in compliance in all material respects with all presently applicable
provisions of the Employee Retirement Income Security Act of 1974, as amended, including the regulations and published interpretations thereunder (herein called “ERISA”). No “reportable event” (as defined in ERISA) has
occurred with respect to any “pension plan” (as defined in ERISA) for which the Company, any Subsidiary, or any employer that would be considered a single employer with the Company 

  
 18 

 
under Sections 414(b), (c), (m) or (o) of the Code, would have any liability. None of the Company, any Subsidiary or any employer that would be considered a single employer with the
Company under Sections 414(b), (c), (m) or (o) of the Code maintains, contributes or has any liability, whether contingent or otherwise, with respect to, and has not within the preceding six (6) years maintained, contributed or had
any liability, whether contingent or otherwise, with respect to any “employee benefit plan,” within the meaning of Section 3(3) of ERISA, that is, or has been, (i) subject to Title IV of ERISA or Section 412 of the Code,
(ii) maintained by more than one employer within the meaning of Section 413(c) of the Code, (iii) subject to Sections 4063 or 4064 of ERISA, or (iv) a “multiemployer plan,” within the meaning of Section 4001(a)(3)
of ERISA. Each “pension plan” for which the Company or any Subsidiary would have liability that is intended to be qualified under Section 401(a) of the Code is so qualified in all material respects and nothing has occurred, whether by
action or by failure to act, that would cause the loss of such qualification. Neither the Company nor any Subsidiary has any obligation to provide or make available any post employment benefit under any “welfare plan” (as defined in
Section 3(1) of ERISA) for any current or former employee or other service provider, except as may be required under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended, or any similar state Law. 

(jj) Shell Company Status. The Company is not, and has never been, an issuer identified in Rule 144(i)(1). 

(kk) Nonperforming Assets. To the Company’s Knowledge, as of the date hereof, the Company believes that its Subsidiaries will
be able to fully and timely collect substantially all interest, principal or other payments when due under their respective loans, leases and other assets that are not classified as nonperforming and such belief is reasonable under all the facts and
circumstances known to the Company and its Subsidiaries, and the Company believes that the amount of reserves and allowances for loan and lease losses and other nonperforming assets established on the Financial Statements is adequate and such belief
is reasonable under all the facts and circumstances known to the Company and its Subsidiaries. 
 (11) Change in Control.
The issuance of the Shares to the Purchaser pursuant to this Agreement will not trigger any rights under any “change of control” provision in any of the agreements to which the Company or any of its Subsidiaries is a party, including any
employment, “change in control,” severance or other compensatory agreements and any benefit plan, which results in payments to the counterparty or the acceleration of vesting of benefits. 

(mm) Material Contracts. Each Material Contract is valid and binding on the Company or its Subsidiaries, as the case may be, and
in full force and effect (other than due to the ordinary expiration of the term thereof), and, to the Company’s Knowledge, is valid and binding on the other parties thereto. The Company and each of its Subsidiaries (and, to the Company’s
Knowledge, each other party thereto) has in all material respects performed all obligations required to be performed by it to date under each Material Contract. To the Company’s Knowledge, no other party to the Material Contracts is in breach,
violation or default of any such Material Contract, and no event has occurred which with notice or lapse of time or both would constitute a breach, violation or default by any such other party to any such Material Contract. No power of attorney or
similar authorization given directly or indirectly by the Company or any of its Subsidiaries is currently outstanding. 

  
 19 

 (nn) Brokers and Finders. No Person will have, as a result of the transactions
contemplated by this Agreement, any valid right, interest or claim against or upon the Company, its Subsidiaries or the Purchaser for any commission, fee or other compensation pursuant to any agreement, arrangement or understanding entered into by
or on behalf of the Company or any of its Subsidiaries. 
 3.2 Representations and Warranties of the Purchaser. The
Purchaser represents and warrants to the Company as of the date hereof as follows: 
 (a) Organization; Authority. The
Purchaser is an entity, duly organized, validly existing and in good standing under the Laws of the jurisdiction of its organization with the requisite power and authority to enter into and to consummate the transactions contemplated by this
Agreement and otherwise to carry out its obligations hereunder. The execution and delivery of this Agreement by the Purchaser, and the performance by the Purchaser of the transactions contemplated by this Agreement, have been duly authorized by all
necessary action on the part of the Purchaser. This Agreement has been duly executed by the Purchaser, and assuming the due authorization, execution and delivery of this Agreement by the Company, will constitute the legal, valid and binding
obligation of the Purchaser, enforceable against it in accordance with its terms, except (i) as such enforceability may be limited by applicable bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium, liquidation or similar
Laws relating to, or affecting generally the enforcement of, creditors’ rights and remedies or by other equitable principles of general application; (ii) as limited by Laws relating to the availability of specific performance, injunctive
relief or other equitable remedies; and (iii) insofar as indemnification and contribution provisions may be limited by applicable Law. 
 (b) No Conflicts. The execution, delivery and performance by the Purchaser of this Agreement and the consummation by the Purchaser of the transactions contemplated hereby will not (i) result
in a violation of the Constituent Documents of the Purchaser; (ii) conflict with, or constitute a default (or an event which with notice or lapse of time or both would become a default) under, or give to any other Person any rights of
termination, amendment, acceleration or cancellation of, any agreement, indenture or instrument to which the Purchaser is a party; or (iii) result in a violation of any Law, rule, regulation, order, judgment or decree (including federal and
state securities Laws) applicable to the Purchaser, except in the case of clauses (ii) and (iii) above, for such conflicts, defaults, rights or violations which would not, individually or in the aggregate, reasonably be expected to have a
material adverse effect on the ability of the Purchaser to consummate the transactions contemplated by this Agreement. 
 (c)
Investment Intent. The Purchaser understands that the Shares are “restricted securities” and have not been registered under the Securities Act or any applicable state securities Laws, and the Purchaser is acquiring the Shares as
principal for its own account and not with a view to, or for distributing or reselling such Shares or any part thereof in violation of, the Securities Act or any applicable state securities Laws, provided, however, that by making the
representations herein, the Purchaser does not agree to hold any of the Shares for any minimum period of time and reserves the right at all times to sell or otherwise dispose of all or any part of such Shares pursuant to an effective registration
statement under the Securities Act or under an exemption from such registration and in compliance with applicable federal and state securities Laws. The Purchaser does not presently have any agreement, plan or understanding, directly or indirectly,
with any Person to distribute or effect any distribution of any of the Shares to or through any Person. 

  
 20 

 (d) Purchaser Status. The Purchaser is an “accredited investor” as defined
in Rule 501(a) under the Securities Act. 
 (e) General Solicitation. The Purchaser is not purchasing the Shares as a
result of any advertisement, article, notice or other communication regarding the Shares published in any newspaper, magazine or similar media or broadcast over television or radio or presented at any seminar or any other general advertisement.

 (f) Investment Risk. The Purchaser understands that its investment in the Shares involves a significant degree of risk
and that no representation is being made as to the future value or trading volume of the Shares. 
 (g) Experience of the
Purchaser. The Purchaser, either alone or together with its Representatives, has such knowledge, sophistication and experience in business and financial matters so as to be capable of evaluating the merits and risks of the prospective investment
in the Shares, and has so evaluated the merits and risks of such investment. The Purchaser is able to bear the economic risk of an investment in the Shares and, at the present time, is able to afford a complete loss of such investment. 

(h) Access to Information. The Purchaser acknowledges that it has been afforded (i) the opportunity to ask such questions as
it has deemed necessary of, and to receive answers from, Representatives of the Company concerning the terms and conditions of the offering of the Shares and the merits and risks of investing in the Shares; (ii) access to information about the
Company and its Subsidiaries and their respective financial condition, results of operations, business, properties, management and prospects sufficient to enable it to evaluate its investment; and (iii) the opportunity to obtain such additional
information that the Company possesses or can acquire without unreasonable effort or expense that is necessary to make an informed investment decision with respect to the investment. The Purchaser has sought such accounting, legal and tax advice as
it has considered necessary to make an informed decision with respect to its acquisition of the Shares. 
 (i) Brokers and
Finders. No Person will have, as a result of the transactions contemplated by this Agreement, any valid right, interest or claim against or upon the Company or the Purchaser for any commission, fee or other compensation pursuant to any
agreement, arrangement or understanding entered into by or on behalf of the Purchaser. 
 ARTICLE IV 

OTHER AGREEMENTS OF THE PARTIES 
 4.1 Transfer Restrictions. 
 (a) Compliance with Laws.
Notwithstanding any other provision of this Agreement, the Purchaser covenants that the Shares may be disposed of only pursuant to an effective registration statement under, and in compliance with the requirements of, the Securities Act, or pursuant
to an available exemption from, or in a transaction not subject to, the 

  
 21 

 
registration requirements of the Securities Act, and in compliance with any applicable state, federal or foreign securities Laws. In connection with any transfer of the Shares other than
(i) pursuant to an effective registration statement, (ii) to the Company or (iii) pursuant to Rule 144 (provided that the transferor provides the Company with reasonable assurances (in the form of seller and broker representation
letters) that such securities may be sold pursuant to such rule), the Company may require the transferor thereof to provide to the Company, at the transferor’s expense, an opinion of counsel selected by the transferor and reasonably acceptable
to the Company, the form and substance of which opinion will be reasonably satisfactory to the Company, to the effect that such transfer does not require registration of such Shares under the Securities Act. 

(b) Legends. Certificates evidencing the Shares will bear any legend as required by the “blue sky” Laws of any state and
a restrictive legend in substantially the following form, until such time as they are not required under Section 4.1(c) or applicable Law: 
 THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR APPLICABLE STATE SECURITIES LAWS. THE SECURITIES MAY NOT BE OFFERED FOR SALE,
SOLD, TRANSFERRED OR ASSIGNED (I) IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE SECURITIES ACT OR (B) AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION
REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS OR BLUE SKY LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE COMPANY OR (II) UNLESS SOLD PURSUANT TO RULE 144 UNDER SAID ACT
(PROVIDED THAT THE TRANSFEROR PROVIDES THE COMPANY WITH REASONABLE ASSURANCES (IN THE FORM OF SELLER AND BROKER REPRESENTATION LETTERS) THAT THE SECURITIES MAY BE SOLD PURSUANT TO SUCH RULE). NO REPRESENTATION IS MADE BY THE ISSUER AS TO THE
AVAILABILITY OF THE EXEMPTION PROVIDED BY RULE 144 UNDER THE SECURITIES ACT FOR RESALES OF THESE SECURITIES. 
 (c) Removal
of Legends. The Company will take such action as may be necessary and appropriate to cause the Transfer Agent to issue to the Purchaser new certificates representing the Shares without such restrictive legends as set forth in Section 4.1(b)
in exchange for the certificates issued to the Purchaser under Section 2.2(a)(ii) of this Agreement upon the earliest to occur of the following: (i) such Shares are registered for resale under the Securities Act, (ii) such Shares are
sold or transferred pursuant to Rule 144, or (iii) such Shares are eligible for sale under Rule 144, without the requirement for the Company to be in compliance with the current public information required under Rule 144(c)(1) (or Rule
144(i)(2), if applicable) as to such securities and without volume or manner-of-sale restrictions. 

  
 22 

 4.2 Form D and Blue Sky. The Company will take such action as the Company reasonably
determines is necessary in order to obtain an exemption for or to qualify the Shares for sale to the Purchaser at the Closing pursuant to this Agreement under applicable federal and state securities Laws (or to obtain an exemption from such
qualification). The Company will make all filings and reports relating to the offer and sale of the Shares required under applicable federal and state securities Laws following the Closing. 

4.3 No Integration. The Company will not sell, offer for sale or solicit offers to buy or otherwise negotiate in respect of any
security (as defined in Section 2 of the Securities Act) that will be integrated with the offer or sale of the Shares in a manner that would require the registration under the Securities Act of the sale of the Shares to the Purchaser.

 4.4 Publicity. The parties agree to consult with each other before issuing any press release or making any public
statement with respect to this Agreement or the transactions contemplated hereby and, except as otherwise required by Law, will not issue any such press release or make any such public statement without the consent of the other party. 

4.5 Confidentiality. Except with the prior written consent of the Company or as otherwise required by Law, the Purchaser will keep
confidential and will not disclose, in whole or in part, any Confidential Information, and the Purchaser will require its Representatives who are provided Confidential Information to be bound by the terms of this Section 4.5 to the fullest
extent as if they were parties hereto. Notwithstanding anything to the contrary herein, if the Purchaser or any of its Representatives is requested or required pursuant to or in connection with any applicable Law to disclose Confidential
Information, then such information may be disclosed without violation of this Agreement. 
 4.6 Indemnification.

 (a) Indemnification of the Purchaser. The Company will indemnify and hold the Purchaser and its directors, officers,
shareholders, members, managers, partners, employees, agents, successors and assigns (and any other Persons with a functionally equivalent role of a Person holding such titles notwithstanding a lack of such title or any other title), each Person who
controls the Purchaser (within the meaning of Section 15 of the Securities Act and Section 20 of the Exchange Act), and the directors, officers, shareholders, managers, members, partners, employees, agents, successors and assigns (and any
other Persons with a functionally equivalent role of a Person holding such titles notwithstanding a lack of such title or any other title) of such controlling Person (each, an “Indemnified Person”) harmless from and against
any and all losses, liabilities, deficiencies, suits, actions, causes of action, assessments, fines, obligations, claims, contingencies, damages, costs, interest, awards, penalties and expenses, including all judgments, amounts paid in settlements,
court costs and reasonable attorneys’ fees and expenses and costs of investigation, preparation and defense that any such Indemnified Person may suffer or incur as a result of (i) any breach of or inaccuracy in any of the representations
or warranties made by the Company in this Agreement, (ii) any breach or default in performance of any of the covenants or agreements made by the Company in this Agreement, or (iii) any action instituted against an Indemnified Person in any
capacity, or any of them or their respective Affiliates, by any shareholder of the Company who is not an Affiliate of such Indemnified Person, with respect to any of the transactions contemplated by this Agreement. The Company will not be liable to
any Indemnified Person under this Agreement to the extent, but only to the extent that a loss, claim, damage or liability is attributable to any Indemnified Person’s breach of any of the representations, warranties, covenants or agreements made
by such Indemnified Person in this Agreement. 

  
 23 

 (b) Conduct of Indemnification Proceedings. Promptly after receipt by any Indemnified
Person of any notice of any demand, claim or circumstance which would or might give rise to a claim or the commencement of any Proceeding in respect of which indemnity may be sought pursuant to this Section 4.6 (“Indemnification
Claim”), such Indemnified Person will notify the Company in writing of such Indemnification Claim; provided that the failure of any Indemnified Person to so notify the Company will not relieve the Company of its obligations hereunder
except to the extent that such failure will have materially prejudiced the Company. In the event that any Indemnification Claim would or might give rise to a claim or the commencement of any Proceeding by a third party (“Third Party
Claim”), the Company shall be entitled to assume and control the defense thereof, including the employment of counsel reasonably satisfactory to the applicable Indemnified Person at the Company’s expense, if the Company gives notice to
the Indemnified Person of its intent to do so within twenty (20) Business Days of the Company’s receipt of notice of the Third Party Claim from the Indemnified Person. In any Third Party Claim, any Indemnified Person will have the right to
retain its own counsel, but the fees and expenses of such counsel will be at the expense of such Indemnified Person, unless: (i) the Company and the Indemnified Person will have mutually agreed to the retention of such counsel; (ii) the
Company will have failed promptly to assume the defense of such Proceeding and to employ counsel reasonably satisfactory to such Indemnified Person in such Proceeding; (iii) the Third Party Claim does not seek solely monetary relief,
(iv) the Company does not conduct the defense of the Third Party Claim actively and diligently, or (v) in the reasonable judgment of counsel to such Indemnified Person, representation of both parties by the same counsel would be
inappropriate due to actual or potential conflict of interest between them. The Company will not be liable for any settlement of any Proceeding related to any Indemnification Claim effected without its written consent, which consent will not be
unreasonably withheld, delayed or conditioned. Without the prior written consent of the Indemnified Person, which consent will not be unreasonably withheld, delayed or conditioned, the Company will not effect any settlement of any pending or
threatened Proceeding in respect of which any Indemnified Person is or could have been a party and indemnity could have been sought hereunder by such Indemnified Person, unless such settlement includes an unconditional release of such Indemnified
Person from all liability arising out of such Proceeding. In the event the Company exercises the right to undertake any defense against any Third Party Claim as provided above, the Indemnified Person shall reasonably cooperate with the Company in
such defense and to the extent possible make available to the Company all witnesses, pertinent records, materials and information in the Indemnified Person’s possession or under the Indemnified Person’s control relating thereto as is
reasonably requested by the Company. Similarly, in the event the Indemnified Person is, directly or indirectly, conducting the defense against any Third Party Claim, the Company shall reasonably cooperate with the Indemnified Person in such defense
and to the extent possible make available to the Indemnified Person all witnesses, records, materials and information in the Company’s possession or under the Company’s control relating thereto as is reasonably requested by the Indemnified
Person. 
 4.7 Use of Proceeds. The Company will use all or substantially all of the net proceeds from the sale of the
Shares to further capitalize the Company and the Bank. 

  
 24 

 4.8 Certain Transactions. The Company will not merge or consolidate into, or sell,
transfer or lease all or substantially all of its property or assets to, any other party unless the successor, transferee or lessee party, as the case may be (if not the Company), expressly assumes the due and punctual performance and observance of
each and every covenant and condition of this Agreement to be performed and observed by the Company. 
 ARTICLE V

 MISCELLANEOUS 
 5.1 Entire Agreement. This Agreement, together with the exhibits and schedules hereto, contains the entire understanding of the parties with respect to the subject matter hereof and supersedes all
prior agreements, understandings, discussions and representations, oral or written, with respect to such matters, which the parties acknowledge have been merged into such documents, exhibits and schedules. At or after the Closing, and without
further consideration, the Company and the Purchaser will execute and deliver to the other party such further documents as may be reasonably requested in order to give practical effect to the intention of the parties under this Agreement.

 5.2 Notices. Any and all notices or other communications or deliveries required or permitted to be provided hereunder
will be in writing and will be deemed given and effective on the earliest of (a) the date of transmission, if such notice or communication is delivered via facsimile (provided the sender receives a machine-generated confirmation of successful
transmission) at the facsimile number specified in this Section 5.2 prior to 5:00 p.m., New Orleans, Louisiana time, on a Business Day, (b) the next Business Day after the date of transmission, if such notice or communication is delivered
via facsimile at the facsimile number specified in this Section 5.2 on a day that is not a Business Day or later than 5:00 p.m., New Orleans, Louisiana time, on any Business Day, (c) the Business Day following the date of mailing, if sent
by U.S. nationally recognized overnight courier service with next day delivery specified, or (d) upon actual receipt by the party to whom such notice is required to be given. The address for such notices and communications will be as follows:

  

			
	 If to the Company:
	  	First NBC Bank Holding Company
		  	210 Baronne Street
		  	New Orleans, Louisiana 70112
		  	Attention: Ashton J. Ryan, Jr.
		  	Telephone: (504) 566-8000
		  	Fax: (504) 671-3480
		
	 With a copy to:
	  	Fenimore, Kay, Harrison & Ford, LLP
		  	111 Congress Avenue, Suite 820
		  	Austin, Texas 78701
		  	Attention: Geoffrey S. Kay, Esq.
		  	Telephone: (512) 583-5909
		  	Fax: (512) 583-5940

  
 25 

			
		
	 If to the Purchaser:
	  	Castle Creek Capital Partners IV, L.P.
		  	6051 El Tordo
		  	P.O. Box 1329
		  	Rancho Santa Fe, California 92091
		  	Attention: Mark Merlo
		  	Telephone: (858) 756-8300
		  	Fax: (858) 756-8301
		
	 With a copy to:
	  	Simpson Thacher & Bartlett LLP
		  	1999 Avenue of the Stars, 29th Floor
		  	Los Angeles, California 90067
		  	Attention: Thomas Wuchenich, Esq.
		  	Telephone: (310) 407-7505
		  	Fax: (310) 407-7502

 or such other address as may be designated in writing hereafter, in the same manner, by such Person. 

5.3 Amendments; Waivers. No amendment or waiver of any provision of this Agreement will be effective with respect to any party
unless made in writing and signed by an officer or a duly authorized representative of such party. 
 5.4 Construction.
The headings herein are for convenience only, do not constitute a part of this Agreement and will not be deemed to limit or affect any of the provisions hereof. The language used in this Agreement will be deemed to be the language chosen by the
parties to express their mutual intent, and no rules of strict construction will be applied against any party. This Agreement will be construed as if drafted jointly by the parties, and no presumption or burden of proof will arise favoring or
disfavoring any party by virtue of the authorship of any provisions of this Agreement. 
 5.5 Successors and Assigns. The
provisions of this Agreement will inure to the benefit of and be binding upon the parties and their successors and permitted assigns. Neither this Agreement, nor any rights or obligations hereunder, may be assigned by the Company without the prior
written consent of the Purchaser. The Purchaser may assign its rights and obligations hereunder in whole or in part to any Affiliate of the Purchaser. 
 5.6 No Third-Party Beneficiaries. This Agreement is intended for the benefit of the parties hereto and their respective successors and permitted assigns and is not for the benefit of, nor may any
provision hereof be enforced by, any other Person, other than Indemnified Persons. 
 5.7 GOVERNING LAW. THIS
AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES SUBJECT TO THIS AGREEMENT WILL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF LOUISIANA, WITHOUT REGARD TO THE LAWS THAT MIGHT OTHERWISE GOVERN UNDER APPLICABLE
PRINCIPLES OF CONFLICTS OF LAWS. EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES PERSONAL SERVICE OF PROCESS AND CONSENTS TO PROCESS BEING SERVED IN ANY SUCH PROCEEDING BY MAILING A COPY THEREOF VIA REGISTERED OR CERTIFIED MAIL OR OVERNIGHT DELIVERY
(WITH EVIDENCE OF DELIVERY) 

  
 26 

 
TO SUCH PARTY AT THE ADDRESS IN EFFECT FOR NOTICES TO IT UNDER THIS AGREEMENT AND AGREES THAT SUCH SERVICE SHALL CONSTITUTE GOOD AND SUFFICIENT SERVICE OF PROCESS AND NOTICE THEREOF. NOTHING
CONTAINED HEREIN SHALL BE DEEMED TO LIMIT IN ANY WAY ANY RIGHT TO SERVE PROCESS IN ANY MANNER PERMITTED BY LAW. EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY
LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY. 
 5.8
Survival. The representations and warranties of the Purchaser contained herein will not survive the Closing. The representations, warranties, agreements and covenants of the Company and the agreements and covenants of the Purchaser contained
herein will survive the Closing for a period of six (6) months; provided that if notice of an Indemnification Claim shall have been delivered by an Indemnified Person to the Company prior to the expiration of any representation, warranty,
agreement or covenant of the Company in accordance with Section 4.6, ARTICLE I, Section 4.6, this ARTICLE V and the representations, warranties, agreements and covenants of the Company subject to such Indemnification Claim shall survive
until the final resolution of such Indemnification Claim; provided further that the Fundamental Representations shall survive the Closing indefinitely. Upon the expiration of the representations, warranties, agreements and covenants contained in
this Agreement pursuant to this Section 5.8, such representations, warranties, agreements and covenants shall be deemed to be of no further force and effect. 
 5.9 Execution. This Agreement may be executed in any number of counterparts, each of which will be an original and all, when taken together, will be considered one and the same agreement. This
Agreement will become effective when each party hereto will have received a counterpart hereof executed by the other party hereto. In the event that any signature is delivered by facsimile transmission, or by e-mail delivery of a “.pdf”
format data file, such signature will create a valid and binding obligation of the party executing (or on whose behalf such signature is executed) with the same force and effect as if such facsimile signature page were an original thereof.

 5.10 Severability. If any provision of this Agreement is held to be invalid or unenforceable in any respect, the
validity and enforceability of the remaining provisions of this Agreement will not in any way be affected or impaired thereby, and the parties will attempt to agree upon a valid and enforceable provision that is a reasonable substitute therefor, and
upon so agreeing, will incorporate such substitute provision in this Agreement. 
 5.11 Remedies. Each of the parties
acknowledges that the other party would be irreparably damaged and would not have an adequate remedy at law for money damages in the event that any of the covenants contained in this Agreement was not performed in accordance with its terms or
otherwise was materially breached. Accordingly, each of the parties agrees that, without the necessity of proving actual damages or posting bond or other security, the other party will be entitled to temporary or permanent injunction or injunctions,
upon proper showing, to prevent breaches of such performance and to specific enforcement of such covenants in addition to any other remedy to which the party may be entitled, at law or in equity. 

  
 27 

 5.12 Expenses. The Company will pay its own costs and expenses and, promptly upon the
request of the Purchaser, reimburse the Purchaser for its reasonable and documented out-of-pocket costs and expenses relating to this Agreement, the due diligence and negotiations in connection with this Agreement and the transactions contemplated
by this Agreement. 
 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

[SIGNATURE PAGE FOR COMPANY FOLLOWS] 

  
 28 

 IN WITNESS WHEREOF, the parties hereto have caused this Securities Purchase Agreement to be
duly executed by their respective authorized signatories as of the date first indicated above. 
  

			
	FIRST NBC BANK HOLDING COMPANY
		
	By:	 	 /s/ Ashton J. Ryan, Jr.

	 	Ashton J. Ryan, Jr.
		 	President and Chief Executive Officer

 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

[SIGNATURE PAGE FOR PURCHASER FOLLOWS] 
 [SIGNATURE PAGE TO SECURITIES PURCHASE AGREEMENT] 

  

			
	CASTLE CREEK CAPITAL PARTNERS IV, L.P.
		
	By:	 	 Castle Creek Capital IV LLC, its

general partner

		
	By:	 	/s/ Mark Merlo
	Name:	 	Mark Merlo
	Title:	 	Principal

 [SIGNATURE PAGE TO SECURITIES
PURCHASE AGREEMENT] 

 EXHIBITS 

 

	A:	Stock Certificate Questionnaire 

  

	B:	Form of Opinion of Company Counsel 

  

	C:	Form of Secretary’s Certificate 

  

	D:	Form of Articles of Amendment 

  

	E:	VCOC Letter 

 EXHIBIT A 

[Stock Certificate Questionnaire] 
 Pursuant to Section 2.2(b) of the Agreement, please provide us with the following information: 
  

					
	 1.
	  	The exact name that the Shares are to be registered in (this is the name that will appear on the stock certificate(s)). You may use a nominee name if appropriate:	  	Castle Creek Capital Partners IV, L.P.
			
	 2.
	  	The relationship between the Purchaser of the Shares and the Registered Holder listed in response to Item 1 above:	  	Same entity.
			
	 3.
	  	The mailing address, telephone and telecopy number of the Registered Holder listed in response to Item 1 above:	  	  
 6051 E1 Tordo

P.O. Box 1329
 Rancho Santa Fe, California
92091
 Attention: Mark Merlo

Telephone: (858) 756-8300
 Fax:
(858)756-8301

			
	 4.
	  	The Tax Identification Number (or, if an individual, the Social Security Number) of the Registered Holder listed in response to Item 1 above:	  	[intentionally omitted]

  
 Exhibit A

 EXHIBIT B 

Form of Opinion of Counsel 
 June 29, 2011 
 Castle Creek Capital Partners IV, LP 

6051 El Tordo 
 Rancho Santa Fe, California 92091

 Ladies and Gentlemen: 
 We have acted as special counsel to First NBC Bank Holding Company, a Louisiana corporation (the “Company”), in connection with the issuance and sale by the Company of 523,863 shares (the
“Common Shares”) of common stock, par value $1.00 per share (“Common Stock”), and 1,680,219 shares (the “Preferred Shares” and together with the Common Shares, the “Shares”) of Series C Preferred Stock, no par
value, to Castle Creek Capital Partners IV, LP (the “Purchaser”), pursuant to that certain Securities Purchase Agreement by and between the Company and the Purchaser dated as of June 29, 2011 (the “Agreement”). This opinion
is being given pursuant to Section 2.2(a)(iii) of the Agreement. Capitalized terms not defined herein shall have the meanings given to them in the Agreement. 
  

	A.	Basis of Opinion. 

 As the
basis for the conclusions expressed in this opinion, we have reviewed and relied upon the following: 
  

	 	1.	The Agreement and the related schedules and exhibits thereto; 

  

	 	2.	A copy, certified by the Louisiana Secretary of State on June 22, 2011, of the Articles of Incorporation of the Company; 

 

	 	3.	The Bylaws of the Company, as provided to us by the Company; 

  

	 	4.	Certificates, dated as of the date hereof, containing representations to this firm as to certain factual matters and executed by certain senior officers of the Company;
and 

  

	 	5.	Certificates, dated as of recent dates, issued by various state and federal agencies and departments. 

  
 Exhibit B |
Page 1 

	B.	Opinion. 

 Based upon our
examination and consideration of the foregoing, subject to the comments, assumptions, limitations, qualifications and exceptions set forth in Section C below, this firm expresses the following opinions: 

 

	 	1.	The Company is duly registered as a bank holding company under the Bank Holding Company Act of 1956, as amended, and has been duly incorporated and is validly existing
as a corporation in good standing under the laws of the State of Louisiana. 

  

	 	2.	The Company has the corporate power and authority to execute and deliver and to perform its obligations under the Agreement, including, without limitation, to issue the
Shares. 

  

	 	3.	The Agreement has been duly authorized, executed and delivered by the Company and, assuming due authorization, execution and delivery by the Purchaser, the Agreement
constitutes a valid and binding agreement of the Company, enforceable against the Company in accordance with its terms, except (i) as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium,
liquidation or similar laws relating to, or affecting generally the enforcement of, creditors’ rights and remedies or by other equitable principles of general application, (ii) as limited by laws relating to the availability of specific
performance, injunctive relief or other equitable remedies, and (iii) insofar as indemnification and contributions provisions may be limited by applicable law. 

 

	 	4.	The execution and delivery by the Company of the Agreement and the performance by the Company of its obligations under the Agreement, including its issuance and sale of
the Shares, do not and will not: (a) result in any violation of the Articles of Incorporation or Bylaws of the Company, (b) require any consent, approval, license or exemption by, order or authorization of, or filing, recording or
registration by the Company with any federal or state governmental authority, or (c) violate any court order, judgment or decree, if any. 

  

	 	5.	The Shares being delivered to the Purchaser pursuant to the Agreement have been duly and validly authorized and, when issued, delivered and paid for as contemplated in
the Agreement, will be duly and validly issued, fully paid and non-assessable, and free of any preemptive right or similar rights contained in the Company’s Articles of Incorporation or Bylaws. 

 

	 	6.	Assuming (i) the accuracy of the representations and warranties of the Company set forth in Section 3.1 of the Agreement and of the Purchaser in
Section 3.2 of the Agreement and (ii) the accuracy of the representations and warranties of other Persons who have purchased Common Stock of the Company during the past six months, the offer, sale and delivery of the Shares to the
Purchaser in the manner contemplated by the Agreement, do not require registration under the Securities Act. 

	C.	Comments, Assumptions, Limitations, Qualifications and Exceptions. 

 The opinions expressed herein are based upon, and subject to, the further comments, assumptions, limitations, qualifications and exceptions set forth below. 

 

	 	1.	We have assumed that (a) all information contained in all documents reviewed by us is true and correct, (b) all signatures on all documents reviewed by us are
genuine, (c) all documents submitted as copies are true and complete copies of the originals thereof, (d) the Purchaser has all power and authority to execute, deliver, and perform its obligations under the Agreement, (e) the
Agreement has been duly and validly authorized, executed, and delivered by the Purchaser, (f) the Agreement is the valid and binding obligation of the Purchaser, enforceable against the Purchaser in accordance with its terms, (g) the
Purchaser has performed (and will perform) all of its obligations under, and is in full compliance with, the Agreement as applicable to the Purchaser, (h) each natural person signing any document reviewed by this firm had the legal capacity to
do so, and (i) each person signing in a representative capacity for the Purchaser any document reviewed by this firm had authority to sign in such capacity. 

 

	 	2.	Insofar as the opinions contained herein involve factual matters, this firm has relied solely upon the representations of the Company made in the Agreement and in
certificates of officers of the Company referred to in Section A above. 

  

	 	3.	In rendering the opinions set forth in Paragraph B.1 with respect to the good standing of the Company, we have relied solely on certificates of state authorities of the
Company’s good standing that this firm received in response to this firm’s requests for confirmation of such good standing in such jurisdictions. In rendering the opinion set forth in Paragraph B.1 with respect to the registration of the
Company as a bank holding company under the Bank Holding Company Act of 1956, as amended, we have relied solely on correspondence from the Federal Reserve Bank of Atlanta received in response to this firm’s request for confirmation of such
registration and election of treatment. By necessity, our opinions set forth in Paragraphs B.1 are given as of the date of such certificates or correspondence. Nothing has come to our attention that would cause us to believe that such opinions have
ceased to be valid as of the date of this opinion letter. 

  

	 	4.	We express no opinion as to the laws of any jurisdiction other than the State of Louisiana and the federal laws of the United States of America. We express no opinion
under the laws of the State of Louisiana or the federal laws of the United States of America with respect to any environmental, securities (other than the opinion set forth in Paragraph B.6), tax, antitrust laws or “doing business” laws.
We also express no opinion with respect to compliance by the Company or any other person with the Employee Retirement Income Security Act of 1974, or any comparable state laws. 

	 	5.	Except as expressly set forth herein, we have made no independent investigation as to the accuracy or completeness of any representation, warranty, data or other
information, written or oral, made or furnished in connection with the documents referred to in Section A hereof, and no matters have come to our attention that would warrant such an investigation. 

 

	 	6.	We have assumed that the Purchaser has received the Shares in exchange for the purchase price set forth in the Agreement. We have assumed that the parties to the
Agreement have acted and will act in good faith. 

  

	 	7.	We have assumed that there are no other agreements or understandings among the parties that would modify the terms of the Agreement or the respective rights or
obligations of the parties to the Agreement. 

  

	 	8.	We have assumed the absence of fraud, misrepresentation, duress, or mistake in connection with the Agreement and the transactions contemplated therein.

  

	 	9.	Although we may have acted as counsel to the Company in connection with certain matters other than the transactions contemplated by the Agreement, our engagement is
limited to certain matters about which we have been consulted. Consequently, there may exist matters of a factual or legal nature involving the Company as to which we have not been consulted and have not represented the Company.

  

	 	10.	This opinion is rendered based upon our interpretation of existing law, to the extent specified in Paragraph C.4, and is not intended to speak with reference to
standards hereafter adopted or evolved in subsequent judicial decisions by courts. The opinions expressed herein are as of the date hereof, and we assume no obligation to update or supplement such opinions to reflect any facts or circumstances that
may hereafter come to our attention or any changes in law that may hereafter occur. 

  

	 	11.	This opinion letter is limited to the matters stated herein and no opinions may be implied or inferred beyond the matters expressly stated herein.

  

	 	12.	This opinion letter is delivered solely for your benefit, and no other party or entity is entitled to rely hereon without the express prior written consent of this
firm. You are hereby notified that we do not consider you to be our client in the matters to which this opinion relates. 

 Very
truly yours, 
 Fenimore, Kay, Harrison & Ford, LLP 

 EXHIBIT C 

Form of Secretary’s Certificate 
 The undersigned hereby certifies that she is the duly elected, qualified and acting Corporate Secretary of First NBC Bank Holding Company, a Louisiana corporation (the “Company”),
and that as such she is authorized to execute and deliver this certificate in the name and on behalf of the Company and in connection with the Securities Purchase Agreement, dated as of June 29, 2011, by and between the Company and the
Purchaser party thereto (the “Securities Purchase Agreement”), and further certifies in her official capacity, in the name and on behalf of the Company, the items set forth below. Capitalized terms used but not otherwise
defined herein will have the meaning set forth in the Securities Purchase Agreement. 
  

	 	1.	Attached hereto as Exhibit A is a true, correct and complete copy of the resolutions duly adopted by the Board of Directors of the Company relating to the
proposed transaction. Such resolutions have not in any way been amended, modified, revoked or rescinded, have been in full force and effect since their adoption to and including the date hereof and are now in full force and effect.

  

	 	2.	Attached hereto as Exhibit B is a true, correct and complete copy of the Articles of Incorporation of the Company, together with all amendments thereto currently
in effect, and no action has been taken to further amend, modify or repeal such Articles of Incorporation, the same being in full force and effect in the attached form as of the date hereof. 

 

	 	3.	Attached hereto as Exhibit C is a true, correct and complete copy of the Bylaws of the Company, together with all amendments thereto currently in effect, and no
action has been taken to further amend, modify or repeal such Bylaws, the same being in full force and effect in the attached form as of the date hereof. 

  

	 	4.	Each person listed below has been duly elected or appointed to the position(s) indicated opposite his name and is duly authorized to sign the Securities Purchase
Agreement on behalf of the Company, and the signature appearing opposite such person’s name below is such person’s genuine signature. 

  

					
	 Name
	  	 Position
	  	 Signature

	 Ashton J. Ryan, Jr.
	  	President and Chief Executive Officer	  	

  
 Exhibit C |
Page 1 

 IN WITNESS WHEREOF, the undersigned has hereunto set his hand as of this 29th day of June,
2011. 
  

	
	  
 Marsha S. Crowle

	 Secretary

 I, Ashton J. Ryan, Jr., President and Chief Executive Officer, hereby certify that Marsha S. Crowle
is the duly elected, qualified and acting Secretary of the Company and that the signature set forth above is her true signature. 
  

	
	  
 Ashton J. Ryan, Jr.

	 President and Chief Executive Officer

  
 Exhibit C |
Page 2 

 EXHIBIT D 

Articles of Amendment 
 (see attached) 

  
 Exhibit D

					
	 Tom Schedler

SECRETARY OF STATE

 
 June 29,
2011
	  	State of Louisiana

Secretary of State
  

 
	  	COMMERCIAL DIVISION

225.925.4704

	  	  	  
 Administrative Services

225.932.5317 Fax

Corporations
 225.932.5314 Fax
 Uniform Commercial Code

225.932.5318 Fax

 The attached document of FIRST NBC BANK HOLDING COMPANY was received and filed on June 28, 2011. 

MS 36232982D 
  

					
	
Rev 09/09                      
      
	  	Mailing Address: P.O. Box 94125, Baton Rouge, LA 70804-9125	  	
		  	Office Location: 8585 Archives Ave., Baton Rouge, LA 70808	  	
		  	Web Site Address: www.sos.louisiana.gov	  	

 ARTICLES OF AMENDMENT 
 TO THE 
 ARTICLES OF INCORPORATION 

OF 
 FIRST NBC BANK
HOLDING COMPANY 
 First NBC Bank Holding Company, a Louisiana corporation (the “Corporation”), through its
undersigned President and Secretary, hereby certifies that on June 22, 2011, the Board of Directors of the Corporation, in accordance with Article III(B) of the Articles of Incorporation of the Corporation and Section 33(A) of the
Louisiana Business Corporation Law, adopted an amendment to Article III of the Articles of Incorporation to add a Section E, which Article III(E) reads in its entirety as follows: 
 E. Series C Preferred Stock 
  

	 	1.	Definitions. 

 (a)
“Articles of Incorporation” means the Articles of Incorporation of the Corporation, as amended and in effect from time and time. 
 (b) “Board of Directors” means the board of directors of the Corporation. 
 (c) A “business day” means any day other than a Saturday or a Sunday or a day on which Louisiana state banks are authorized or required by law, executive order or regulation to close.

 (d) “Certificate” means a certificate representing one (1) or more shares of Series C Preferred Stock;

 (e) “Common Stock” means the voting common stock of the Corporation, par value $1.00 per share. 

(f) “Corporation” means First NBC Bank Holding Company, a Louisiana Corporation and any successor Person. 

(g) “Conversion Date” means the date that is six (6) months after the date on which any share of Series C Preferred
Stock is originally issued. 
 (h) “Dividends” has the meaning set forth in Section 3. 

(i) “Exchange Agent” means First NBC Bank, a Louisiana state bank and wholly owned subsidiary of the Corporation, solely
in its capacity as exchange agent for the Corporation, or any successor exchange agent for the Corporation. 
 (j)
“Liquidation Distribution” has the meaning set forth in Section 4(b). 

  
 1 

 (k) “Permissible Transfer” means a transfer by the holder of Series C
Preferred Stock (i) to an affiliate of the holder or the Corporation, (ii) in a widespread public distribution of Common Stock or Series C Preferred Stock of the Corporation, (iii) in which no transferee (or group of associated
transferees) would receive 2% or more of any class of voting securities of the Corporation (including pursuant to a related series of such transfers), or (iv) to a transferee that would control more than a majority of the voting securities of the
Corporation (not including voting securities such Person is acquiring from the transferor). 
 (l) “Person”
means an individual, corporation, partnership, limited liability company, trust, business trust, association, Joint stock company joint venture, sole proprietorship, unincorporated organization, or any other form of entity not specifically listed
herein. 
 (m) “Series C Preferred Stock” has the meaning set forth in Section 2. 

2. Designation; Number of Shares. A series of preferred stock designated “Series C Convertible Perpetual preferred
Stock,” having no par value per share (the “Series C Preferred Stock”), is hereby created. Each share of Series C Preferred Stock has the designations, preferences, limitations and relative, participating, optional or other
special rights and privileges, and the qualifications, limitations and restrictions as described herein. The number of authorized shares of Series C Preferred Stock is 1,680,219. Each share of Series C Preferred Stock is identical in all respects to
every other share of Series C Preferred Stock. 
 3. Dividends. The Series C Preferred Stock will rank pari passu
with the Common Stock with respect to the payment of dividends or distributions, whether payable in cash, securities, options or other property, and with respect to issuance, grant or sale of any rights to purchase stock, warrants, securities or
other property (collectively, the “Dividends”). Accordingly, the holders of record of Series C Preferred Stock will be entitled to receive as, when, and if declared by the Board of Directors, Dividends in the same per share amount
as paid on the Common Stock, and no Dividends will be payable on the Common Stock or any other class or series of capital stock ranking with respect to Dividends pari passu with the Common Stock unless an identical Dividend is payable at the
same time on the Series C Preferred Stock; provided however, that if a stock Dividend is declared on Common Stock the holders of Series C Preferred Stock will be entitled to a stock Dividend payable solely in shares of Series C Preferred
Stock. Dividends that are payable on Series C Preferred Stock will be payable to the holders of record of Series C Preferred Stock as they appear on the stock register of the Corporation on the applicable record date, as determined by the Board of
Directors, which record date will be the same as the record date for the equivalent Dividend of the Common Stock. In the event that the Board of Directors does not declare or pay any Dividends with respect to shares of Common Stock, then the holders
of Series C Preferred Stock will have no right to receive any Dividends. In the event that the Corporation at any time or from time to time will effect a division of the Common Stock into a greater number of shares (by stock split, reclassification
or otherwise than by payment of a Dividend in Common Stock or in any right to acquire the Common Stock), or in the event the outstanding Common Stock will be combined or consolidated by reclassification, reverse stock split or otherwise, into a
lesser number of shares of the Common Stock, then the Dividend right of the holder of Series C Preferred Stock in effect immediately prior to such event will, concurrently with the effectiveness of such event, be proportionately decreased or
increased, as appropriate. If the Common Stock is changed into the same or a different number of shares of any other class or classes of stock, whether by capital reorganization, reclassification 

  
 2 

 or otherwise (other than a division or combination of shares provided for above), the Dividend right of the
holder of Series C Preferred Stock in effect immediately prior to such event will, concurrently with the effectiveness of such transaction, be adjusted so that the Series C Preferred Stock will be entitled to a Dividend, in lieu of with respect to
the number of shares of Common Stock which the holders of the Series C Preferred Stock would otherwise have been entitled to receive, with respect to the number of shares of such other class or classes of stock equivalent to the number of shares of
Common Stock that the holders of the Series C Preferred Stock would have entitled to receive upon conversion of the Series C Preferred Stock immediately before that transaction. 

4. Liquidation. 
 (a) Rank. The Series C Preferred Stock will, with respect to rights upon liquidation, winding up and dissolution, rank (i) subordinate and junior in right of payment to all other securities of the
Corporation which, by their respective terms, are senior to the Series C Preferred Stock, and (ii) pari passu with the Common Stock. 
 (b) Liquidation Distributions. In the event of any liquidation, dissolution or winding up of the affairs of the Corporation, whether voluntary or involuntary, holders of Series C Preferred Stock
will be entitled to receive for each share of Series C Preferred Stock, out of the assets of the Corporation or proceeds thereof (whether capital or surplus) available for distribution to stockholders of the Corporation, subject to the rights of any
Persons to whom the Series C Preferred Stock is subordinate, a distribution (“Liquidation Distribution”) equal to (i) any authorized and declared, but unpaid, Dividends with respect to such share of Series C Preferred Stock at the
time of such liquidation, dissolution or winding up, and (ii) the amount the holder of such share of Series C Preferred Stock would receive in respect of such share if such share had been converted to one (1) share of Common Stock at the time of
such liquidation, dissolution or winding up (assuming the conversion of all shares of Series C Preferred Stock at such time, without regard to any limitations on conversion of the Series C Preferred Stock). All Liquidating Distributions to the
holders of the Series C Preferred Stock and Common Stock set forth in clause (ii) above will be made pro rata to the holders thereof. In the event that the Corporation at any time or from time to time will effect a division of the Common Stock into
a greater number of shares (by stock split, reclassification or otherwise than by payment of a Dividend in Common Stock or in any right to acquire the Common Stock), or in the event the outstanding Common Stock will be combined or consolidated, by
reclassification, reverse stock split or otherwise, into a lesser number of shares of the Common Stock then the Liquidation Distribution right of the holder of Series C Preferred Stock in effect immediately prior to such event will, concurrently
with the effectiveness of such event, be proportionately decreased or increased, as appropriate. If the Common Stock is changed into the same or a different number of shares of any other class or classes of stock, whether by capital reorganization,
reclassification or otherwise (other than a division or combination of shares provided for above), the Liquidation Distribution right of the holder of Series C Preferred Stock in effect immediately prior to such event will, concurrently with the
effectiveness of such transaction, be adjusted so that the Series C Preferred Stock will be entitled to a Liquidation Distribution, in lieu of with respect to the number of shares of Common Stock which the holders of the Series C Preferred Stock
would otherwise have been entitled to receive, with respect to the number of shares of such other class or classes of stock equivalent to the number of shares of Common Stock that the holders of the Series C Preferred Stock would have entitled to
receive upon conversion of the Series C Preferred Stock immediately before that transaction. 

  
 3 

 (c) Merger, Consolidation and Sale of Assets Not Liquidation. For purposes of this
Section 4, the merger or consolidation of the Corporation with any other corporation or other entity, including a merger or consolidation in which the holders of Series C Preferred Stock receive cash, securities or other property for their
shares, or the sale, lease or exchange (for cash, securities or property), of all or substantially all of the assets of the Corporation, will not constitute a liquidation, dissolution or winding up of the Corporation. 

5. Conversion. 
 (a) Conversion. Each share of Series C Preferred Stock will automatically convert into one (1) share of Common Stock, without any further action on the part of any holder, subject to
adjustment as provided in this Section 5, upon the earlier of (i) the date a holder of Series C Preferred Stock transfers any shares of Series C Preferred Stock to a non-affiliate of the holder in a Permissible Transfer or (ii) the
close of business on the Conversion Date. All shares of Common Stock delivered upon conversion of the Series C Preferred Stock shall be duly authorized, validly issued, fully paid and non-assessable, free and clear of all liens, claims, security
interests, charges and other encumbrances. 
 (b) Adjustments for Combinations or Divisions of Common Stock. In the event
that the Corporation at any time or from time to time will effect a division of the Common Stock into a greater number of shares (by stock split, reclassification or otherwise than by payment of a Dividend in Common Stock or in any right to acquire
the Common Stock), or in the event the outstanding Common Stock will be combined or consolidated, by reclassification, reverse stock split or otherwise, into a lesser number of shares of the Common Stock, then the conversion right of the holder of
Series C Preferred Stock in effect immediately prior to such event will, concurrently with the effectiveness of such event, be proportionately decreased or increased, as appropriate. 

(c) Adjustments for Reclassification, Exchange or Substitution. If the Common Stock is changed into the same or a different number
of shares of any other class or classes of stock, whether by capital reorganization, reclassification or otherwise (other than a division or combination of shares provided for in Section 5(b) above), the conversion ratio then in effect will,
concurrently with the effectiveness of such transaction, be adjusted so that the Series C Preferred Stock will be convertible into, in lieu of the number of shares of Common Stock which the holders of the Series C Preferred Stock would otherwise
have been entitled to receive, a number of shares of such other class or classes of stock equivalent to the number of shares of Common Stock that the holders of the Series C Preferred Stock would have entitled to receive upon conversion of the
Series C Preferred Stock immediately before that transaction. 
 (d) Reorganization, Mergers, Consolidations or Sales of
Assets. If at any time or from time to time there will be a capital reorganization of the Common Stock (other than a subdivision, combination, reclassification or exchange of shares provided for elsewhere in this Section 5) or a merger or
consolidation of the Corporation with or into another corporation, or the sale of all or substantially all the Corporation’s properties and assets to any other Person, 

  
 4 

 
then, as a part of such reorganization, merger, consolidation or sale, provision will be made so that the holders of the Series C Preferred Stock will thereafter be entitled to receive upon
conversion of the Series C Preferred Stock, the number of shares of stock or other securities or property of the Corporation, or of the successor company resulting from such merger or consolidation or sale, to which a holder of that number of shares
of Common Stock deliverable upon conversion of the Series C Preferred Stock would have been entitled to receive on such capital reorganization, merger, consolidation or sale. 
 (e) No Impairment. The Corporation will not, by amendment of its Articles of Incorporation or through any reorganization, transfer of assets, consolidation, merger, dissolution, issue or sale of
securities or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms to be observed or performed hereunder by the Corporation, but will at all times in good faith assist in the carrying out of all the
provisions of this Section 5 and in the taking of all such actions as may be necessary or appropriate in order to protect the conversion rights of the holders of the Series C Preferred Stock against impairment. 

(f) Certificates as to Adjustments. Upon the occurrence of each adjustment or readjustment pursuant to this Section 5, the
Corporation at its expense will promptly compute such adjustment or readjustment in accordance with the terms hereof and prepare and furnish to each holder of Series C Preferred Stock a certificate executed by the Corporation’s President (or
other appropriate officer) setting forth such adjustment or readjustment and showing in detail the facts upon which such adjustment or readjustment is based. The Corporation will, upon the written request at any time of any holder of Series C
Preferred Stock, furnish or cause to be furnished to such holder a like certificate setting forth (i) such adjustments and readjustments, and (ii) the number of shares of Common Stock and the amount, if any, of other property which at the
time would be received upon the conversion of the Series C Preferred Stock. 
 (g) Reservation of Shares Issuable Upon
Conversion. The Corporation will at all times reserve and keep available out of its authorized but unissued Common Stock solely for the purpose of effecting the conversion of the Series C Preferred Stock such number of shares of Common Stock as
will from time to time be sufficient to effect the conversion of all outstanding Series C Preferred Stock, and if at any time the number of authorized but unissued Common Stock will not be sufficient to effect the conversion of all then outstanding
Series C Preferred Stock, the Corporation will take such action as may, in the opinion of its counsel, be necessary to increase its authorized but unissued Common Stock to such number of shares as will be sufficient for such purpose. 

(h) Exchange of Certificates. At any time following the Conversion Date, upon surrender to the Exchange Agent of a Certificate for
cancellation, together with a properly completed and duly executed stock power or letter of transmittal, together with such other documents as may be reasonably requested by the Exchange Agent the holder of such Certificate will be entitled to
receive in exchange therefor one (1) or more certificates representing the shares of Common Stock into which the Series C Preferred Stock has been converted. 

  
 5 

 6. Redemption. Except to the extent a liquidation under Section 4 may be deemed
to be a redemption, the Series C Preferred Stock will not be redeemable at the option of the Corporation or any holder of Series C Preferred Stock at any time. Notwithstanding the foregoing, the Corporation will not be prohibited from repurchasing
or otherwise acquiring shares of Series C Preferred Stock in voluntary transactions with the holders thereof. Any shares of Series C Preferred Stock repurchased or otherwise acquired may be cancelled by the Corporation and thereafter be reissued as
shares of any series of preferred stock of the Corporation. 
 7. Voting Rights. The holders of Series C Preferred Stock
will not have any voting rights, except as otherwise from time to time required by law. 
 8. Protective Provisions. So
long as any shares of Series C Preferred Stock are issued and outstanding, the Corporation will not, without obtaining the approval (by vote or written consent) of the holders of a majority of the issued and outstanding shares of Series C Preferred
Stock, (i) alter or change the rights, preferences, privileges or restrictions provided for the benefit of the holders of the Series C Preferred Stock, (ii) increase or decrease the authorized number of shares of Series C Preferred Stock
or (iii) enter into any agreement, merger or business consolidation, or engage in any other transaction, or take any action that would have the effect of changing any preference or any relative or other right provided for the benefit of the
holders of the Series C Preferred Stock. In the event that the Corporation offers to repurchase shares of Common Stock, the Corporation shall offer to repurchase shares of Series C Preferred Stock pro rata based upon the number of shares of Common
Stock such holders would be entitled to receive if such shares were converted into shares of Common Stock immediately prior to such repurchase. 
 9. Notices. Any notice required by the provisions hereof to be given to the holders of Series C Preferred Stock will be deemed given upon the earlier of (i) actual receipt and (ii) three
(3) business days after being sent by certified or registered mail, postage prepaid, return receipt requested, and addressed to each holder of record at such holder’s address as it appears on the books of the Corporation. 

10. Record Holders. To the fullest extent permitted by law, the Corporation will be entitled to recognize the record holder of any
share of Series C Preferred Stock as the true and lawful owner thereof for all purposes and will not be bound to recognize any equitable or other claim to or interest in such Share or shares on the part of any other Person, whether or not it will
have express or other notice thereof. 
 11. No Preemptive Rights. The holders of Series C Preferred Stock are not
entitled to any preemptive or preferential right to purchase or subscribe for any capital stock, obligations, warrants or other securities or rights of the Corporation. 
 12. Replacement Certificates. In the event that any Certificate will have been lost, stolen or destroyed, upon the making of an affidavit of that fact by the Person claiming such Certificate to be
lost, stolen or destroyed and, if required by the Corporation, the posting by such Person of a bond in such amount as the Corporation may determine is necessary as indemnity against any claim that may be made against it with respect to such
Certificate, the Corporation or the Exchange Agent, as applicable, will deliver in exchange for such lost, stolen or destroyed Certificate a replacement Certificate. 

  
 6 

 13. Other Rights. The shares of Series C Preferred Stock have no rights, preferences,
privileges or voting powers or relative, participating, optional or other special rights, or qualifications, limitations or restrictions thereof, other than as set forth herein or as provided by applicable law. 

IN WITNESS WHEREOF, this amendment to the Articles of Incorporation is executed in the name and on behalf of the Corporation on this 28th
day of June, 2011. 
  

			
	FIRST NBC BANK HOLDING COMPANY
		
	By:	 	/s/ Ashton J. Ryan, Jr.
		 	Ashton J. Ryan, Jr.
		 	President

 
			
		
	By:	 	/s/ Marsha S. Crowle
		 	Marsha S. Crowle
		 	Secretary

 

) 
  

			
		 	

  
 7 

 ACKNOWLEDGMENT 

 

			
	STATE OF LOUISIANA	    	§
		
	PARISH OF ORLEANS	    	§

 On this 28th day of June, 2011, before me, the undersigned authority, personally came and appeared Ashton J. Ryan, Jr., to me
personally known, who, being by me duly sworn, declared and acknowledged before me and the undersigned competent Witnesses, that he is the President of First NBC Bank Holding Company, a Louisiana Corporation and that in such capacity he was duly
authorized to and did execute the foregoing Articles of Amendment on behalf of the Corporation for the purposes therein expressed and as his and the Corporation’s free act and deed. 
 WITNESSES: 
  

					
	/s/ Marsha S. Crowle	 		 	/s/ Ashton J. Ryan, Jr.
	MARSHA S. CROWLE	 		 	Ashton J. Ryan, Jr.
			
	/s/ Missy Lamb	 		 	 
	MISSY LAMB	 		 	

	
	
	/s/ Gregory J. St. Angelo
	Notary Public
	GREGORY J. ST. ANGELO
	
	My Commission Expires: at death

  

	
	

  
 

 

  
 8 

 EXHIBIT E 

VCOC Letter 
 (see attached) 
 Exhibit E 

 First NBC Bank Holding Company 

210 Baronne Street 
 New Orleans, LA 70112 
 June 29, 2011 

Castle Creek Capital Partners IV, L.P. 
 6051 El
Tordo 
 Rancho Santa Fe, CA 92091 

Dear Sir/Madam: 
 Reference is
made to the Securities Purchase Agreement by and between First NBC Bank Holding Company, a Louisiana corporation (the “Corporation”), and Castle Creek Capital Partners IV, L.P., a Delaware limited partnership (the “VCOC
Investor”), dated as of June 29, 2011 (the “Securities Purchase Agreement”), pursuant to which the VCOC Investor has agreed to purchase from the Corporation shares of its common stock, par value $1.00 per share (the
“Common Stock”), and shares of its Series C Preferred Stock, no par value per share (the “Preferred Stock” and, together with the Common Stock, the “Stock”). Capitalized terms used herein without
definition shall have the respective meanings in the Securities Purchase Agreement. 
 For good and valuable consideration
acknowledged to have been received, the Corporation hereby agrees that for so long as the VCOC Investor, directly or through one or more affiliates, continues to hold any shares of Stock (or other securities of the Corporation into which such shares
of Stock may be converted or for which such shares of Stock may be exchanged), without limitation or prejudice of any the rights provided to the VCOC Investor under the Securities Purchase Agreement or any other agreement or otherwise, the
Corporation shall: 
  

	•	 	 For so long as the VCOC Investor and its affiliates own at least 81,632 shares of Common Stock (the “Board Representative Threshold”),
provide the VCOC Investor with the right to (i) appoint at least one (1) director to the Board of Directors of the Corporation, which director shall be reasonably acceptable to the Corporation, and (ii) permit an individual designated
by the VCOC Investor and reasonably acceptable to the Corporation to attend meetings of the board of directors of the Corporation’s subsidiaries (including any meetings of committees thereof) in a nonvoting observer capacity;

  

	•	 	 Provide the VCOC Investor or its designated representative with: 

(i) the right to visit and inspect any of the offices and properties of the Corporation and its subsidiaries and inspect
the books and records of the Corporation and its subsidiaries, at such times as the VCOC Investor shall reasonably request but not more frequently than once per calendar quarter; 

 Castle Creek Capital Partners IV, L.P. 

June 29, 2011 
 Page 2 

 

 (ii) as soon as available to all shareholders, consolidated balance
sheets and statements of income and cash flows of the Corporation and its subsidiaries as of the end of each quarter of each fiscal year, prepared in conformity with GAAP (except that the financial statements prepared at the end of each calendar
quarter may not contain all footnotes required under GAAP), and with respect to each fiscal year end statement, together with an auditor’s report thereon of a firm of established national reputation; and 

(iii) to the extent the Corporation or any of its subsidiaries is required by law or pursuant to the terms of any
outstanding indebtedness of the Corporation or any subsidiary to prepare such reports, any annual reports, quarterly reports and other periodic reports pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 or otherwise,
actually prepared by the Corporation or subsidiary as soon as available; 
 provided that, in each case, if the Corporation makes
the information described in clauses (ii) and (iii) of this bullet point available through public filings on the EDGAR system or any successor or replacement system of the U.S. Securities and Exchange Commission, the delivery of the
information shall be deemed satisfied by such public filings. 
  

	•	 	 Make appropriate officers and directors of the Corporation, and its subsidiaries, available periodically and at such times as reasonably requested by
the VCOC Investor for consultation with the VCOC Investor or its designated representative, but not more frequently than once per calendar quarter, with respect to matters relating to the business and affairs of the Corporation and its subsidiaries;

  

	•	 	 To the extent consistent with applicable law, inform the VCOC Investor or its designated representative in advance with respect to any significant
corporate actions, including, without limitation, extraordinary dividends, mergers, acquisitions or dispositions of assets, issuances of significant amounts of debt or equity and material amendments to the articles of incorporation, bylaws and other
organization documents of the Corporation or any of its subsidiaries, and to provide the VCOC Investor or its designated representative with the right to consult with the Corporation and its subsidiaries with respect to such actions; provided that
the VCOC Investor is aware that it may receive material non-public information about the Corporation, and the VCOC Investor agrees that it is aware of and shall comply with the federal and state securities laws that restrict any Person who has
material, non-public information about a company from purchasing or selling securities of the company or from communicating such information to any other Person under circumstances in which it is reasonably foreseeable that such Person is likely to
purchase or sell such securities; and 

  

	•	 	 Provide the VCOC Investor or its designated representative with such other rights of consultation which the VCOC Investor’s counsel may determine
to be reasonably necessary under applicable legal authorities promulgated after the date hereof to qualify its investment in the Corporation as a “venture capital investment” for purposes of the United States Department of Labor Regulation
published at 29 C.F.R. Section 2510.3-101(d)(3)(i) (the “Plan Asset Regulation”). 

 Castle Creek Capital Partners IV, L.P. 

June 29, 2011 
 Page 3 

 

 In the event that the Corporation at any time effects a division of Common Stock into a
greater number of shares (by stock split, reclassification, dividend-in-kind or otherwise), or in the event the outstanding Common Stock are combined or consolidated, by reclassification, reverse stock split or otherwise, into a lesser number of
shares of Common Stock, then the Board Representative Threshold in effect immediately prior to such event will, concurrently with the effectiveness of such event, be proportionately decreased or increased, as appropriate. 

The Corporation agrees to consider, in good faith, the recommendations of the VCOC Investor or its designated representative in
connection with the matters on which it is consulted as described above, recognizing that the ultimate discretion with respect to all such matters shall be retained by the Corporation. 

The VCOC Investor agrees, and will require each designated representative of the VCOC Investor to agree, to hold in confidence and not
use or disclose to any third party (other than its legal counsel and accountants) any confidential information provided to or learned by such party in connection with the VCOC Investor’s rights under this letter agreement except as may
otherwise be required by law or legal, judicial or regulatory process, provided that the VCOC Investor takes reasonable steps to minimize the extent of any such required disclosure. 

In the event the VCOC Investor transfers all or any portion of its investment in the Corporation to an affiliated entity (or to a direct
or indirect wholly-owned conduit subsidiary of any such affiliated entity) that is intended to qualify as a venture capital operating company under the Plan Asset Regulation, such affiliated entity shall be afforded the same rights that the
Corporation has afforded to the VCOC Investor hereunder and shall be treated, for such purposes, as a third party beneficiary hereunder. 
 This letter agreement and the rights and the duties of the parties hereto shall be governed by, and construed in accordance with, the laws of the State of Louisiana and may be executed in counterparts,
each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same instrument. 
 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

 Castle Creek Capital Partners IV, L.P. 

June 29, 2011 
 Page 4 

 

  

			
	FIRST NBC BANK HOLDING COMPANY
		
	By:	 	/s/ Ashton J. Ryan, Jr.
		 	Name:    Ashton J. Ryan, Jr.
		 	Title:      President and Chief Exec. Officer

 Agreed and acknowledged as of the date first above written: 

CASTLE CREEK CAPTAL PARTNERS IV, L.P. 
 By:
Castle Creek Capital IV LLC, its general partner 
  

			
		
	By:	 	/s/ Mark Merlo
		 	Name: Mark Merlo
		 	Title: Principal

 [Signature Page to VCOC Letter] 

 
			
	FIRST NBC BANK HOLDING COMPANY
		
	By:	 	 
		 	Name:
		 	Title:

 Agreed and acknowledged as of the date first above written: 

CASTLE CREEK CAPTAL PARTNERS IV, L.P. 
 By:
Castle Creek Capital IV LLC, its general partner 
  

			
		
	By:	 	/s/ Mark Merlo
		 	Name:    Mark Merlo
		 	Title:     Principal

 [Signature Page to VCOC Letter]

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