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Investor Presentation | Q3 2026
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Safe Harbor Statement and Disclaimer Forward -Looking Statements This presentation contains forward-looking statements within the meaning of U.S. federal securities laws, which involve risks and uncertainties. You should not place undue reliance on forward- looking statements because they are subject to numerous uncertainties and factors relating to our operations and business, all of which are difficult to predict and many of which are beyond our control. All statements, other than statements of historical fact, are forward-looking statements. Forward-looking statements include statements concerning our possible or assumed financial condition, results of operations, including descriptions of our business plans, strategy and expectations, capital and financing needs and liquidity and regulatory and competitive outlook. These forward-looking statements are generally identified by the use of forward-looking terminology, including the terms “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and, in each case, their negative or other variations or comparable terminology and expressions. The results, events and circumstances reflected in the forward-looking statements may not be achieved or occur, and actual results, events, or circumstances could differ materially from those described in the forward-looking statements. We caution that the forward-looking information and statements are based largely on our expectations and are subject to a number of known and unknown risks and uncertainties that are subject to change based on factors which are, in many instances, beyond our control. Such forward-looking statements are based on various assumptions (some of which may be beyond our control) and are subject to risks and uncertainties, which change over time, and other factors which could cause actual results to differ materially from those currently anticipated. Such risks and uncertainties include, but are not limited to: uncertain market conditions and economic trends nationally, regionally and particularly in the Bay Area (which we define as the counties of Alameda, Contra Costa, Marin, Monterey, Napa, San Francisco, San Mateo, Santa Clara, Santa Cruz, Solano and Sonoma) and California; economic conditions affecting the venture capital and private equity industries, including any decline in overall portfolio company investment, merger and acquisition activity and other liquidity events affecting venture and private equity fund and their portfolio companies; risks related to the concentration of our business in California, and specifically within the Bay Area, including risks associated with any downturn in the real estate sector; the effects of a prolonged government shutdown; the occurrence of significant natural disasters, including fires and earthquakes, geopolitical events, and acts of war or terrorism; the effects of natural or man-made disasters, including the effects of pandemic viruses; changes in market interest rates that affect the pricing of our loans and deposits and our net interest income; risks related to our strategic focus on lending to small to medium-sized businesses; the sufficiency of the assumptions and estimates we make in establishing reserves for potential loan losses and the value of loan collateral and securities; our ability to attract and retain executive officers and key employees, including their client and community relationships; our ability to successfully manage any chief executive officer transition; adverse changes in the financial performance and/or condition of our borrowers and, as a result, increased loan delinquency rates, deterioration in asset quality and losses in our loan portfolio; the costs of and effects of legal and regulatory developments, including legal proceedings and lawsuits we are or may become subject to; the results of regulatory examinations or reviews and the effect of and our ability to comply with, any regulations or regulatory orders or actions we are or may become subject to; our level of non-performing assets and the costs associated with resolving problem loans; our ability to maintain adequate liquidity and to raise necessary capital to fund our growth strategy and operations or to meet increased minimum regulatory capital levels; the effects of increased competition from a wide variety of local, regional, national and other providers of financial services; technological changes and developments; negative trends in our market capitalization and adverse changes in the price of our common stock; risks associated with unauthorized access, cyber-crime and other threats to data security; the effects of any strategic transactions we may make or evaluate, and the costs associated with any potential or actual strategic transaction; our ability to comply with various governmental and regulatory requirements applicable to financial institutions, including supervisory actions by federal and state banking agencies; the impact of recent and future legislative and regulatory changes, including changes in banking, accounting, securities and tax laws and regulations and their application by our regulators, and economic stimulus programs; governmental monetary and fiscal policies, including the policies of the Federal Reserve and policies related to tariffs; our ability to implement, maintain and improve effective internal controls; and our success at managing any of the risks involved in the foregoing items. Additional factors that could cause actual results to differ materially from those expressed in the forward-looking statements are discussed in the Company's filings with the SEC, including the Company’s most recent annual report on Form 10-K and quarterly reports on Form 10-Q under the heading “Risk Factors” therein and available at the SEC’s Internet site www.sec.gov. The foregoing factors should not be considered exhaustive. New risks and uncertainties may emerge from time to time, and it is not possible for us to predict their occurrence or how they will affect us. If one or more of the factors affecting our forward-looking information and statements prove incorrect, then our actual results, performance or achievements could differ materially from those expressed in, or implied by, forward-looking information. Therefore, we caution you not to place undue reliance on our forward-looking information and statements. We disclaim any duty to revise or update the forward-looking statements, whether written or oral, to reflect actual results or changes in the factors affecting the forward-looking statements, except as specifically required by law. 2
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Safe Harbor Statement and Disclaimer (continued) Industry Information Within this presentation, we reference certain industry and sector information and statistics. We have obtained this information and statistics from various independent, third-party sources. Nothing in the data used or derived from third-party sources should be construed as advice. Some data and other information are also based on our good faith estimates, which are derived from our review of internal surveys and independent sources. We believe that these external sources and estimates are reliable but have not independently verified them. Statements as to our market position are based on market data currently available to us. Although we are not aware of any misstatements regarding the demographic, economic, employment, industry and trade association data presented herein, these estimates involve inherent risks and uncertainties and are based on assumptions that are subject to change. Finally, forward-looking information obtained from these third-party sources is subject to the same qualifications and the additional uncertainties regarding the other forward-looking statements in this presentation. Non-GAAP Financial Measures This presentation includes financial information prepared in accordance with accounting principles generally accepted in the United States ("GAAP"). This presentation also includes non-GAAP financial information, which should be considered supplemental to, and not a substitute for or superior to, the financial measure calculated in accordance with GAAP. Management has presented these non- GAAP financial measures because we believe that these measures provide useful information to management and investors that is supplementary to our financial condition, results of operations and cash flows computed in accordance with GAAP. Management believes that adjusted net income, adjusted diluted earnings per share, adjusted return on average assets, adjusted return on average equity, adjusted non-interest expense, adjusted efficiency ratio, taxable equivalent net interest income and taxable equivalent net interest margin are reasonable measures to understand the Company’s core operating performance and are important to many investors who are interested in understanding our profitability prospects from our core operations. However, we acknowledge that our non-GAAP financial measures have a number of limitations. As such, you should not view these disclosures as a substitute for results determined in accordance with GAAP, and they are not necessarily comparable to non-GAAP financial measures that other banking companies use. Other banking companies may use names similar to those we use for the non- GAAP financial measures we disclose but may calculate them differently. You should understand how we and other companies each calculate their non-GAAP financial measures when making comparisons. For a description of the non-GAAP financial information included herein and reconciliations to the most directly comparable GAAP measure, see the appendix to this presentation. 3
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Diversified Commercial Bank Positioned for Growth 4 Financial data as of the three months ended Sep. 30, 2026 Founded in 2003 with roots in dynamic Bay Area and a national expansion strategy Diversified core funding base and well -balanced loan portfolio Experienced management team with continued investment in talent acquisition and development Disciplined underwriting approach with a proven track record of solid asset quality through various economic cycles Effi cient footprint with one branch and two loan production offices Historically strong loan and deposit growth 2026Q3 Financial Highlights Balance Sheet Total Assets $3.0B Total Loans $2.3B Total Deposits $2.6B Capital Tier 1 Leverage Ratio 10.82% Total Risk -Based Capital Ratio 13.48% Credit NPAs / Assets 0.54% ACL / Loans 1.11% Profitability Net Interest Margin 4.07% Efficiency Ratio 49.80% Return on Average Assets 1.42% Return on Average Equity 13.43%
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Our Business Model 5 1Bay Area defined as the counties of Alameda, Contra Costa, Marin, Monterey, Napa, San Francisco, San Mateo, Santa Clara, Santa Cruz, Solano, and Sonoma Commercial Real Estate Financing for commercial, multi-family, and mixed-use properties Collateralized by investment properties in California Corporate Banking Traditional commercial and owner-occupied banking for Bay Area clients Providing high touch service to enable our local clients to meet their financing needs and manage their cash Construction Lending Land acquisition, pre-development and construction loans on residential, commercial and mixed-use properties Focus on high quality residential properties in desirable Bay Area neighborhoods Venture Lending Comprehensive suite of banking and financing solutions for VC- and PE-backed companies Sponsor Finance Funds lower-middle market acquisitions for entrepreneurs using the search fund model and PE- backed companies SBA Lending Providing government guaranteed lending solutions Fund Finance Capital call lines of credit to PE and VC firms Treasury Management Proactively helping clients with cash management needs Specialty deposit products including 1031 exchange intermediaries, HOA banking solutions, and EB-5 banking Local Bay Area 1 Focus… …With a Growing National Presence Asset -Based Lending Provides flexible working capital structured under formula lines of credit
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Bay Area Core, Expanding National Reach 6 AVBH Headquarters Primary Lending Area Banking Relationships Avidbank serves clients in 42 states with team members located in key innovation hubs nationwide 26% of loan balances are outside of California, driven by targeted growth in our national businesses San Jose Redwood City San Francisco Bay Area Branch and HQ LPO LPO
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Q3 2026 Balance Sheet 7 Third quarter 2026 highlights: Period-end loans* increased $58 million, or 10% annualized, from June 30, 2026 and $324 million, or 17%, from September 30, 2025 Average deposits increased $284 million, or 51% annualized, from the second quarter of 2026 and $450 million, or 22%, from the third quarter of 2025 Redeemed $22 million of callable subordinated notes and closed on a $30 million private placement of new subordinated notes. The new subordinated notes have a maturity date of September 1, 2036, and carry a fixed rate of interest of 7.00% for the first five years. * Net of deferred loan fees $ in thousands Q3 2026 Q2 2026 Q3 2025 Q3 2026 Q2 2026 Q3 2025 Balance Sheet: Balance Sheet and Capital Ratios: Cash and Cash Equivalents 354,059$ 159,909$ 177,319$ Tier 1 Leverage Ratio 10.82% 11.50% 11.14% Debt Securities 279,712 232,196 173,588 Common Equity Tier 1 Ratio 11.45% 11.35% 11.68% Loans, net of deferred fees and ACL 2,259,739 2,202,618 1,937,560 Tier 1 Risk-Based Capital Ratio 11.45% 11.35% 11.68% Other Assets 73,322 65,717 73,987 Total Risk-Based Capital Ratio 13.48% 12.79% 13.48% Total Assets 2,966,832$ 2,660,440$ 2,362,454$ Common Equity Ratio 10.10% 11.13% 11.56% Non-Interest-Bearing Deposits 535,128$ 568,509$ 471,770$ Asset Quality Data: Interest-Bearing Deposits 2,076,918 1,753,439 1,577,388 Total ACL / Loans + Unfunded Commitments 1.11% 1.09% 1.19% Total Deposits 2,612,046 2,321,948 2,049,158 Non-Performing Assets to Total Assets 0.54% 0.54% 0.12% Subordinated Debt, Net 29,130 22,000 22,000 Net Charge-Offs to Average Loans 0.00% 0.35% (0.01%) Short-Term Borrowings - - - Other Liabilities 26,146 20,307 18,183 Total Liabilities 2,667,322 2,364,255 2,089,341 Total Shareholders' Equity 299,510 296,185 273,113 Total Liabilities and Shareholders' Equity 2,966,832$ 2,660,440$ 2,362,454$ Results as of and for
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Q3 2026 Income and Profitability 8 1Adjusted measure. See GAAP to non-GAAP reconciliation in Appendix for detail. *Percent change from Q2 2026 annualized Third quarter 2026 highlights: Net interest margin was 4.07%, a decline of 19 basis points from the second quarter, primarily due to an increase in interest-earning cash balances resulting from temporarily higher deposit balances Return on average assets was 1.42% and efficiency ratio was 49.80% Book value per share was $27.24 at September 30, 2026, an increase of $0.27 from June 30, 2026, and an increase of $2.24 from September 30, 2025 $ in thousands, except per share amounts Q3 2026 Q2 2026 Q3 2025 Select Operating Data: Net Interest Income 28,674$ 26,681$ 22,650$ 1,993$ 30% 6,024$ 27% Provision for Credit Losses 1,151 2,789 1,355 (1,638) (233%) (204) (15%) Total Non-interest Income 1,696 3,050 (60,852) (1,354) (176%) 62,548 (103%) Total Non-interest Expense 15,125 16,473 13,479 (1,348) (32%) 1,646 12% Income Before Income Taxes 14,094 10,469 (53,036) 3,625 137% 67,130 (127%) Income Tax Expense 3,910 2,822 (15,301) 1,088 153% 19,211 (126%) Net Income 10,184$ 7,647$ (37,735)$ 2,537$ 132% 47,919$ (127%) Net Income - adjusted1 10,184$ 8,197$ 6,707$ 1,987$ 96% 3,477$ 52% Per Share Data: Diluted Earnings Per Share 0.94$ 0.71$ (4.12)$ 0.23$ 129% 5.06$ (123%) Diluted Earnings Per Share - adjusted 1 0.94 0.76 0.72 0.18 94% 0.22 31% Book Value Per Share 27.24 26.97 25.00 0.27 4% 2.24 9% Performance Ratios: Return on Average Assets 1.42% 1.20% (6.35%) Return on Average Assets - adjusted 1 1.42% 1.28% 1.13% Return on Average Equity 13.43% 10.40% (63.19%) Return on Average Equity - adjusted 1 13.43% 11.15% 11.23% Net Interest Margin 4.07% 4.26% 3.90% Efficiency Ratio 49.80% 55.41% (35.28%) Efficiency Ratio - adjusted1 49.80% 48.73% 55.72% Q2 2026* Q3 2025 Change from Results as of and for 22 bps 777 bps 107 bps (592) bps 228 bps 220 bps 14 bps 29 bps 303 bps (19) bps (561) bps 7,662 bps 17 bps 8,508 bps
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$806 $889 $993 $1,223 $1,554 $1,741 $1,865 $2,148 $2,283 2018Y 2019Y 2020Y 2021Y 2022Y 2023Y 2024Y 2025Y 2026Q3 Proven Organic Growth 9 Total Assets ($s in millions) Total Loans ($s in millions) Total Deposits ($s in millions) Loan / Deposit Ratio (%)
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Net Interest Margin 10 Taxable -Equivalent Net Interest Income 1 ($s in thousands) and Net Interest Margin (%) Historical Loan Yields (%) Historical Deposit Cost (%) 1Adjusted measure. See GAAP to non-GAAP reconciliation in Appendix for detail. Net interest margin was 4.07% for the third quarter of 2026, a decrease of 19 basis points from the second quarter The decline in the margin was primarily due to an increase in interest-earning cash from temporary deposit balances, which impacted the margin by approximately 17 basis points The increase in net interest income in the third quarter was primarily due to temporarily higher deposit balances resulting in higher cash balances, along with higher average loan balances and higher balances of debt securities 6.98% 6.68% 6.68% 6.67% 6.66% 2025Q3 2025Q4 2026Q1 2026Q2 2026Q3 2.67% 2.39% 2.24% 2.29% 2.29% 2025Q3 2025Q4 2026Q1 2026Q2 2026Q3
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8.90% 9.82% 9.88% 10.59% 11.05% 11.45% 2021Y 2022Y 2023Y 2024Y 2025Y 2026Q3 Capital Trends 11 Common Equity Ratio (%) Tier 1 Leverage Ratio (%) Tier 1 Risk -Based Capital Ratio (%) Total Risk -Based Capital Ratio (%) Redeemed $22 million subordinated notes and issued $30 million of new subordinated notes
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Diversified Lending Platform 12 1Loan portfolio by type does not reflect the divisional breakdowns; divisions may include loans across multiple product types Total Loans at Sep. 30, 2026: $2.3B 14% loan CAGR since 2018, demonstrating history of consistent organic growth Commercial lending focus – C&I plus owner-occupied CRE account for 59% of total loans Diversified CRE book spans office, hotel, retail, industrial and more – no single-sector risk Targeted construction lending focused on residential builds in affluent Bay Area markets with experienced local developers Loan Portfolio Interest Rate Comparison Loan Portfolio by Type 1 6% of floating rate loans are at floor rates Average Non-Owner- Occupied Office Loan Size: $2.7 million Office 156,638$ 7% Retail 102,171 4% Hotel/Motel 77,174 3% Industrial 60,383 3% Warehouse 16,562 1% Other 27,656 1% Total 440,584$ 19% Non-Owner-Occupied CRE at 9/30/2026 $s in thousands; % of total loans
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C&I Lending Overview 13 Total C&I Loans at Sep. 30, 2026: $1.1B Diversified portfolio of C&I lending includes multiple verticals and varied industries, driving balanced, disciplined growth
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Venture Lending Overview 14 *Warrant positions are held at the holding company Launched in 2019, Avidbank’s venture platform serves VC- and PE-backed tech companies and their investors nationwide Platform is highly self-funded, with client deposits exceeding loan balances by 2.7 times Borrowers are required to bank with Avidbank which provides added visibility into cashflows and tighter credit control Clients are backed by institutional capital, with experienced sponsors providing support and stability Avidbank receives equity warrants in connection with extending loan commitments to certain of its customers. As of Sep. 30, 2026, Avidbank has a total of 151 warrant positions in 102 clients* Companies with software-as-a-service (SaaS) revenue model total $190 million, or 61%, of the Venture Lending portfolio across multiple industries Fundraising across the portfolio remains healthy Venture Loans and Deposits ($s in millions) Venture Lending Portfolio by Industry Deposits/ Loans 2.7x
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Venture Lending SaaS Exposure 15 The SaaS revenue model is undergoing a fundamental shift primarily driven by the accelerated advancements of AI. Horizontal SaaS businesses are generally viewed as the most vulnerable to disruption. Avidbank is closely monitoring the divergence in SaaS companies focused on horizontal or vertical SaaS strategies: Horizontal solves a specific functional problem, such as CRM, HR or payroll, across a wide range of industries Vertical is purpose-built for the unique workflows and regulatory requirements of a specific industry SaaS portfolio update: SaaS borrowers are broadly utilizing AI-driven development tools Sentiment has improved as investors are realizing the software business model is needed along with AI models SaaS borrowers continue to successfully raise equity rounds with funding split between horizontal and vertical SaaS AI Advancement and SaaS Transformation SaaS Strategy Portfolio Breakdown SaaS Lending Exposure by Industry Total SaaS Loans at Sep. 30, 2026: $190 million $s in thousands Balance ($) % of Total Balance ($) % of Total Total Deposits 90,888$ 3.5% 102,889$ 4.4% Total Loans 61,651 2.7% 52,105 2.3% Criticized/Classified 1,198 0.1% 2,322 0.1% Total Deposits 220,488$ 8.4% 257,649$ 11.1% Total Loans 128,297 5.6% 138,129 6.2% Criticized/Classified - 0.0% 3,450 0.2% Vertical SaaS Strategy Horizontal SaaS Strategy Sep. 30, 2026 Jun. 30, 2026
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Disciplined Credit Culture and Minimal History of Losses 16 Proven ability to manage credit through cycles with minimal loss history, even following tumultuous periods for the sector Structured credit process combines efficient execution with strong controls, including: – Multi-level credit approval framework – Regular divisional portfolio reviews – Special Asset Committee meetings twice a month to review any watch, criticized, and classified loans Independent third-party reviews conducted annually on over 90% of loan balances ACL / Loans + Unfunded Commitments (%) and NCOs / Avg Loans (%) NPAs / Assets (%) CRE Concentrations *annualized 0.18% 0.34% 0.25% 0.15% 0.67% 0.06% 0.06% 0.95% 0.54% 2018Y 2019Y 2020Y 2021Y 2022Y 2023Y 2024Y 2025Y 2026Q3
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Special Mention and Substandard / Doubtful Loans 17 Substandard / Doubtful Characteristics Substandard / Doubtful Loan Trends ($s in millions) Special Mention Characteristics Special Mention Loan Trends ($s in millions) Includes non-owner occupied CRE relationship with 3 loans totaling $29 million and estimated LTVs <50% Includes $15.9 million for 2 non-performing construction & land loans
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Varied Funding Sources 18 Period-end deposits increased $290 million from June 30, 2026 Some of the growth was due to temporary higher deposit balances Multi-pronged deposit strategy: Venture Lending drives funding with deposit generation well in excess of loan balances Corporate Banking and Specialty Finance are self-funding, supporting loan growth and broader balance sheet strength CRE and Construction are asset-focused with limited deposit generation Five Quarter Deposit Trend ($s in millions) Total Deposits at Sep. 30, 2026: $2.6B 1Other includes Fund Finance, Commercial Real Estate, Construction, Brokered and Other Deposits by Division Borrowing Capacity Data as of Sept. 30, 2026 Amount Used $s in millions Capacity ($) (%) Available Federal Funds Line of Credit $229 – – $229 FHLB $564 – – $564 Available securities $270 – – $270 FRB Discount Window $955 – – $955 Available Contingent Capacity $2,019 – – $2,019
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Securities Portfolio 19 Investment portfolio totaled $280 million at September 30, 2026 Book yield: 4.73% Duration: 4.3 years Average life: 5.2 years Comprised primarily of agency MBS and CMOs 100% of securities portfolio is classified as available for sale Total Securities at Sep. 30, 2026: $280 million Investment Portfolio / Total Assets (%) & Portfolio Yield (%) Net Unrealized Loss on AFS Securities ($s in millions)Portfolio Composition ($6.6) ($83.3) ($68.8) ($72.6) ($0.3) ($13.1) 2021Y 2022Y 2023Y 2024Y 2025Y 2026Q3
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Appendix
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Experienced Management Team 21 Mark D. Mordell Chairman of the Board and Chief Executive Officer Joined the board of directors of the Bank in January of 2006, appointed Chairman in February of 2007, named CEO of Avidbank Holdings and the Bank in March 2012 Brings over 30 years of financial services, real estate and diverse business experience to the Company In 1991 founded California Bavarian Corporation and its successor company, CBC Properties, LLC, which was a full-service real estate investment and management organization based in Palo Alto Mr. Mordell serves as Advisory Board Member to MMM Management, Inc. and the Donovan & Bank Foundation, and is involved with Stanford University, Peninsula Bridge, Sacred Heart Preparatory School and the Town of Portola Valley Mr. Mordell received a B.A. in Economics from Stanford University Jonathan (“JD”) Dale President Joined the Bank as President of Avidbank Holdings and the Bank in August 2026 Prior to joining Avidbank, served with Umpqua Bank (which became Columbia Bank following its 2023 merger) from January 2016 to July 2025. From January 2024 until his departure, Mr. Dale served as EVP and Regional Executive for California. From August 2019 to January 2024, he served as EVP and Regional Executive for Umpqua Bank’s Pacific Northwest and Mountain West regions. Prior thereto, Mr. Dale served in several other senior leadership positions at Umpqua Bank Before joining Umpqua Bank, Mr. Dale held positions with California Bank & Trust and Washington Mutual Bank in Southern California Mr. Dale earned his M.B.A. from the University of Southern California’s Marshall School of Business and completed the Pacific Coast Banking School’s Masters in Banking program through the University of Washington Foster School of Business Patrick Oakes Executive Vice President and Chief Financial Officer Joined the Bank as EVP and CFO of Avidbank Holdings and the Bank in March 2022 Came to the Company from Atlantic Capital Bancshares, Inc. (Nasdaq: ACBI, which subsequently merged into SouthState Bank, N.A.) where he served as EVP, CFO and Secretary from 2015 to 2022 Previous roles include EVP and CFO of Square 1 Bank, EVP and CFO of Encore Bancshares, Inc, and Senior Vice President and Treasurer of Sterling Bank Mr. Oakes was named the Atlanta Business Chronicle’s 2021 CFO of the Year among small public company CFOs Mr. Oakes is a Chartered Financial Analyst, and holds a Bachelor of Science in Electrical Engineering Technology degree from Texas A&M University and an MBA, International Finance from Richmond American University London Gina Thoma -Peterson Executive Vice President and Chief Operating Officer Joined the Bank as EVP and COO of Avidbank Holdings and the Bank in September 2019 Previously spent eight years at MUFG Union Bank in senior enterprise and operational risk management and CCAR roles Spent 12 years at PricewaterhouseCoopers (PwC) in San Francisco, leading advisory and audit services for its largest Western U.S. portfolio of financial institutions Spent six years as an Associate National Bank Examiner with the Office of the Comptroller of the Currency, following four years in bank operational roles in California and Washington Ms. Thoma-Peterson received her B.A. in Business Administration from the University of Washington
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Experienced Management Team 22 Tami Laura Benedict Executive Vice President and Chief of Staff Joined the Bank in 2006 as an online banking specialist, was promoted to Assistant VP and Operations Manager of the Bank in 2008, then to VP in 2012, where she took on the additional responsibility as the Deputy BSA (Bank Secrecy Act) Officer In June 2016, Ms. Benedict was promoted to Senior Vice President where she managed the day-to-day operations for Loan Services, Asset-Based Lending Operations, IT, the Branch, Deposit Operations, and Cash Management divisions of the Bank In August 2024, she was appointed Executive Vice President and Chief of Staff of the Bank Victor DeMarco Executive Vice President, Chief Legal Officer, Head of Advisory Services Joined in 2020 as the SVP and General Counsel of Avidbank Holdings and the Bank and was promoted to EVP and Chief Legal Officer in September 2024 Founding member of Square 1 Bank, where he held several leadership positions and helped grow the Bank from inception through its IPO and merger with Pacific Western Bank Between February 2019 and September 2020, he practiced law with Smith Anderson representing many of the top venture banks in the country Mr. DeMarco received his B.S. in business from North Carolina State University, his MBA from the University of North Carolina at Chapel Hill, and his J.D. from North Carolina Central University Lisa Foussianes Executive Vice President and Chief Credit Officer Named Deputy Chief Credit Officer in June of 2025, and promoted to Chief Credit Officer in January 2026 Joined the Bank in October of 2023 as Senior Vice President in Credit Previously Ms. Foussianes worked in venture lending, primarily as Managing Director at Signature Bank and Senior Vice President at Square 1 Bank, spanning originations, portfolio management, and credit Prior to her career in venture lending, Ms. Foussianes spent well over a decade in commercial real estate finance, including originations, workouts, CMBS and credit, primarily at Prudential Mortgage Capital and Heller Financial Ms. Foussianes received a BA in Economics from The University of Michigan and an MBA from the University of Chicago Arthur Wasson Executive Vice President and Chief Revenue Officer Joined the Bank as EVP, Treasury Management Services of the Bank in August 2023 and was promoted to Chief Revenue Officer in January 2026 Previously served as the managing group director and was a founding member of the venture banking team at Signature Bank from 2019 to 2023 Spent seven years at Square 1 Bank, subsequently acquired by Pacific Western Bank, most recently as EVP and Head of the Equity Funds Group and Global Treasury Management He began his banking career first at Merrill Lynch and later at Morgan Stanley in their private banking divisions Mr. Wasson received his B.S. in Accountancy from Villanova University and a J.D. from Albany Law School
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Historical Balance Sheet 23 $s in thousands 2025 2024 2023 2022 2021 Sep. 30, 2026 Jun. 30, 2026 Mar. 31, 2026 Dec. 31, 2025 Sep. 30, 2025 Cash and Cash Equivalents 154,569$ 82,701$ 81,396$ 47,288$ 493,343$ 354,059$ 159,909$ 149,042$ 154,569$ 177,319$ Debt Securities Available-for-Sale 218,160 296,556 325,320 444,664 380,170 279,712 232,196 210,583 218,160 173,588 Loans, Net of Deferred Fees 2,148,439 1,864,942 1,740,647 1,554,222 1,223,344 2,282,528 2,224,119 2,172,846 2,148,439 1,958,585 Allowance for Credit Losses on Loans (22,261) (18,679) (19,131) (16,481) (13,054) (22,789) (21,501) (20,938) (22,261) (21,025) Net Loans 2,126,178 1,846,263 1,721,516 1,537,741 1,210,290 2,259,739 2,202,618 2,151,908 2,126,178 1,937,560 Bank-Owned Life Insurance 13,045 12,674 12,315 32,747 31,875 11,540 11,443 13,151 13,045 12,953 Premises and Equipment, Net 1,526 2,331 3,297 4,163 4,565 984 1,151 1,340 1,526 1,739 Other Assets 56,165 63,963 86,992 66,665 42,235 60,798 53,123 53,530 56,165 59,295 Total Assets 2,569,643$ 2,304,488$ 2,230,836$ 2,133,268$ 2,162,478$ 2,966,832$ 2,660,440$ 2,579,554$ 2,569,643$ 2,362,454$ Deposits 2,186,073$ 1,891,355$ 1,654,329$ 1,823,235$ 1,979,410$ 2,612,046$ 2,321,948$ 2,199,319$ 2,186,073$ 2,049,158$ Subordinated Debt, Net 22,000 22,000 21,906 21,805 21,703 29,130 22,000 22,000 22,000 22,000 Short-Term Borrowings 60,000 185,000 360,000 130,000 – – – 55,000 60,000 – Other Liabilities 20,591 19,771 29,289 20,690 24,265 26,146 20,307 14,797 20,591 18,183 Total Liabilities 2,288,664$ 2,118,126$ 2,065,524$ 1,995,730$ 2,025,378$ 2,667,322$ 2,364,255$ 2,291,116$ 2,288,664$ 2,089,341$ Common Stock 169,990$ 106,997$ 104,499$ 102,359$ 72,799$ 170,843$ 170,284$ 169,474$ 169,990$ 169,342$ Retained Earnings 111,150 130,703 109,688 93,824 68,801 138,002 127,818 120,171 111,150 104,201 Accumulated Other Comprehensive Loss (161) (51,338) (48,875) (58,645) (4,500) (9,335) (1,917) (1,207) (161) (430) Total Shareholders' Equity 280,979$ 186,362$ 165,312$ 137,538$ 137,100$ 299,510$ 296,185$ 288,438$ 280,979$ 273,113$ Total Liabilities and Shareholders' Equity 2,569,643$ 2,304,488$ 2,230,836$ 2,133,268$ 2,162,478$ 2,966,832$ 2,660,440$ 2,579,554$ 2,569,643$ 2,362,454$ Fiscal Year Ended December 31, Quarter Ended
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Historical Income Statement 24 $s in thousands except share data 2025 2024 2023 2022 2021 Sep. 30, 2026 Jun. 30, 2026 Mar. 31, 2026 Dec. 31, 2025 Sep. 30, 2025 Interest and Fees on Loans 132,825$ 130,878$ 112,494$ 71,813$ 50,823$ 37,426$ 36,484$ 35,429$ 34,093$ 33,880$ Interest on Debt Securities 6,883 7,162 8,658 9,877 3,606 3,150 2,559 2,467 2,274 1,157 Federal Home Loan Bank Dividends 735 752 690 367 272 200 20 426 185 184 Other Interest Income 5,307 3,649 3,140 1,342 456 2,796 864 716 1,775 2,033 Total Interest Income 145,750$ 142,441$ 124,982$ 83,399$ 55,157$ 43,572$ 39,927$ 39,038$ 38,327$ 37,254$ Interest on Deposits 53,159$ 54,146$ 36,414$ 7,513$ 2,618$ 14,411$ 12,640$ 11,899$ 12,887$ 13,776$ Interest on Borrowings 5,286 13,073 15,009 1,440 1,238 487 606 639 427 828 Total Interest Expense 58,445$ 67,219$ 51,423$ 8,953$ 3,856$ 14,898$ 13,246$ 12,538$ 13,314$ 14,604$ Net Interest Income 87,305$ 75,222$ 73,559$ 74,446$ 51,301$ 28,674$ 26,681$ 26,500$ 25,013$ 22,650$ Provision for Credit Losses 5,118 4,096 3,042 3,510 3,572 1,151 2,789 1,445 2,838 1,355 Net Interest Income After Provision for Credit Losses 82,187$ 71,126$ 70,517$ 70,936$ 47,729$ 27,523$ 23,892$ 25,055$ 22,175$ 21,295$ Service Charges and Fees 3,178$ 2,600$ 2,209$ 2,617$ 2,179$ 887$ 851$ 821$ 797$ 779$ Foreign Exchange Income 937 896 411 254 187 324 340 363 254 267 Bank-Owned Life Insurance Income 372 508 894 871 451 97 1,497 106 93 96 Credit Card Income 314 150 104 71 53 106 113 101 60 57 Warrant and Success Fee Income 648 65 23 281 477 112 64 3 375 – (Loss) / Gain on Sale of Securities (62,391) – (6,214) (404) 735 – – – – (62,391) Other income 566 1,791 (79) 613 959 170 185 73 188 340 Total Non-Interest Income (56,376)$ 6,010$ (2,652)$ 4,303$ 5,041$ 1,696$ 3,050$ 1,467$ 1,767$ (60,852)$ Salaries and Employee Benefits 37,415$ 32,499$ 30,572$ 29,102$ 25,256$ 10,178$ 9,563$ 9,555$ 9,574$ 9,766$ Occupancy and Equipment 3,208 4,019 3,954 3,652 4,078 830 777 790 730 723 Data Processing 2,936 2,412 2,041 1,737 1,647 901 787 799 770 792 Regulatory Assessments 1,930 2,083 1,663 1,816 1,226 486 515 566 521 445 Legal and Professional Fees 2,707 2,139 1,839 1,290 897 1,316 897 1,188 890 591 Other Expenses 4,585 4,181 3,824 3,193 2,512 1,414 3,934 1,184 1,366 1,162 Total Non-Interest Expense 52,781$ 47,333$ 43,893$ 40,790$ 35,616$ 15,125$ 16,473$ 14,082$ 13,851$ 13,479$ (Loss)/Income Before (Benefit)/Provision for Income Taxes (26,970)$ 29,803$ 23,972$ 34,449$ 17,154$ 14,094$ 10,469$ 12,440$ 10,091$ (53,036)$ (Benefit)/Provision for Income Taxes (7,417) 8,788 7,171 9,426 4,890 3,910 2,822 3,419 3,142 (15,301) Net (Loss)/Income (19,553)$ 21,015$ 16,801$ 25,023$ 12,264$ 10,184$ 7,647$ 9,021$ 6,949$ (37,735)$ Basic (Loss)/Earnings Per Common Share (2.25)$ 2.83$ 2.29$ 3.68$ 2.08$ 0.96$ 0.72$ 0.85$ 0.66$ (4.12)$ Diluted (Loss)/Earnings Per Common Share (2.25)$ 2.76$ 2.24$ 3.60$ 2.02$ 0.94$ 0.71$ 0.84$ 0.65$ (4.12)$ Fiscal Year Ended December 31, Quarter Ended
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GAAP to Non-GAAP Reconciliation1 25 1See Slide 3 under “Non-GAAP Financial Measures.” $s in thousands 2025 2024 2023 2022 2021 Sep. 30, 2026 Jun. 30, 2026 Mar. 31, 2026 Dec. 31, 2025 Sep. 30, 2025 Non-GAAP Adjusted Net Income Reconciliation Net (Loss) / Income - GAAP ($19,553) $21,015 $16,801 $25,023 $12,264 $10,184 $7,647 $9,021 $6,949 ($37,735) Loss on Sale of Securities 62,391 – 6,214 404 – – – – – 62,391 Tax Impact of Loss on Sale of Securities (17,949) – (1,731) (109) – – – – (17,949) Settlement of Litigation – – – – – – 2,637 – – – Tax Impact of Litigation Settlement – – – – – – (749) – – – Severance – – 324 – – – – – – – Tax Impact of Severance – – (91) – – – – – – – BOLI Surrender Tax Expense – – 478 – – – – – – – BOLI Death Benefit Income – – – – – – (1,338) – – – Net Income - Adjusted (non-GAAP) $24,889 $21,015 $21,995 $25,318 $12,264 $10,184 $8,197 $9,021 $6,949 $6,707 Non-GAAP Adjusted Diluted Earnings Per Share Reconciliation Diluted (Loss) / Earnings Per Share - GAAP ($2.25) $2.76 $2.24 $3.60 $2.02 $0.94 $0.71 $0.84 $0.65 ($4.12) Loss on Sale of Securities, Net of Income Tax 5.05 – 0.60 0.04 – – – – – 4.84 Settlement of Litigation, Net of Income Tax – – – – – – 0.17 – – – Severance, Net of Income Tax – – 0.03 – – – – – – – BOLI Death Benefit Income – – – – – – (0.12) – – – BOLI Surrender Tax Expense – – 0.06 – – – – – – – Diluted Earnings Per Share - Adjusted (non-GAAP) $2.80 $2.76 $2.94 $3.64 $2.02 $0.94 $0.76 $0.84 $0.65 $0.72 Average Common Shares - Diluted - Adjusted 8,880,454 7,604,442 7,490,779 6,952,758 6,062,482 10,803,901 10,776,924 10,773,884 10,754,488 9,353,444 Non-GAAP Adjusted Return on Average Assets Reconciliation Net (Loss) / Income - GAAP ($19,553) $21,015 $16,801 $25,023 $12,264 $10,184 $7,647 $9,021 $6,949 ($37,735) Average Total Assets 2,357,580 2,252,814 2,173,969 2,072,989 1,713,888 2,845,991 2,565,538 2,504,616 2,459,110 2,357,158 Return on Average Assets - GAAP (0.83%) 0.93% 0.77% 1.21% 0.72% 1.42% 1.20% 1.46% 1.12% (6.35%) Adjusted Net Income (non-GAAP) $24,889 $21,015 $21,995 $25,318 $12,264 $10,184 $8,197 $9,021 $6,949 $6,707 Average Total Assets 2,357,580 2,252,814 2,173,969 2,072,989 1,713,888 2,845,991 2,565,538 2,504,616 2,459,110 2,357,158 Return on Average Assets - Adjusted (non-GAAP) 1.06% 0.93% 1.01% 1.22% 0.72% 1.42% 1.28% 1.46% 1.12% 1.13% Fiscal Year Ended December 31, Quarter Ended
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GAAP to Non-GAAP Reconciliation 26 $s in thousands 2025 2024 2023 2022 2021 Sep. 30, 2026 Jun. 30, 2026 Mar. 31, 2026 Dec. 31, 2025 Sep. 30, 2025 Non-GAAP Adjusted Return on Average Equity Reconciliation Net (Loss) / Income - GAAP ($19,553) $21,015 $16,801 $25,023 $12,264 $10,184 $7,647 $9,021 $6,949 ($37,735) Average Total Equity 227,210 175,348 150,045 135,841 133,646 300,781 294,826 287,191 278,382 236,903 Return on Average Equity - GAAP (8.61%) 11.98% 11.20% 18.42% 9.18% 13.43% 10.40% 12.74% 9.90% (63.19%) Adjusted Net Income (non-GAAP) $24,889 $21,015 $21,995 $25,318 $12,264 $10,184 $8,197 $9,021 $6,949 $6,707 Average Total Equity 227,210 175,348 150,045 135,841 133,646 300,781 294,826 287,191 278,382 236,903 Return on Average Equity - Adjusted (non-GAAP) 10.95% 11.98% 14.66% 18.64% 9.18% 13.43% 11.15% 12.74% 9.90% 11.23% Non-GAAP adjusted non-interest expense reconciliation Non-interest expense $52,781 $47,333 $43,893 $40,790 $35,616 $15,125 $16,473 $14,082 $13,851 $13,479 Severance – – (324) – – – – – – – Settlement of litigation – – – – – – (2,637) – – – Non-interest expense – adjusted $52,781 $47,333 $43,569 $40,790 $35,616 $15,125 $13,836 $14,082 $13,851 $13,479 Non-GAAP Adjusted Efficiency Ratio Reconciliation Non-Interest Expense $52,781 $47,333 $43,893 $40,790 $35,616 $15,125 $16,473 $14,082 $13,851 $13,479 Net Interest Income 87,305 75,222 73,559 74,446 51,301 28,674 26,681 26,500 25,013 22,650 Non-Interest Income (56,376) 6,010 (2,652) 4,303 5,041 1,696 3,050 1,467 1,767 (60,852) Efficiency Ratio - GAAP 170.65% 58.27% 61.90% 51.80% 63.21% 49.80% 55.41% 50.35% 51.72% (35.28%) Non-Interest Expense - Adjusted $52,781 $47,333 $43,569 $40,790 $35,616 $15,125 $13,836 $14,082 $13,851 $13,479 Net Interest Income 87,305 75,222 73,559 74,446 51,301 28,674 26,681 26,500 25,013 22,650 Non-Interest Income (56,376) 6,010 (2,652) 4,303 5,041 1,696 3,050 1,467 1,767 (60,852) Loss on Sale of Securities 62,391 – 6,214 404 – – – – – 62,391 BOLI Death Benefit Income – – – – – – (1,338) – – – Non-Interest Income - Adjusted 6,015 6,010 3,562 4,707 5,041 1,696 1,712 1,467 1,767 1,539 Efficiency Ratio - Adjusted (non-GAAP) 56.56% 58.27% 56.49% 51.53% 63.21% 49.80% 48.73% 50.35% 51.72% 55.72% Non-GAAP Taxable Equivalent Net Interest Income Reconciliation Net Interest Income - GAAP $87,305 $75,222 $73,559 $74,446 $51,301 $28,674 $26,681 $26,500 $25,013 $22,650 Taxable Equivalent Adjustment 32 25 72 173 – 8 8 8 8 8 Net Interest Income - Taxable Equivalent (non-GAAP) $87,337 $75,247 $73,631 $74,619 $51,301 $28,682 $26,689 $26,508 $25,021 $22,658 Fiscal Year Ended December 31, Quarter Ended