Slides
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2Q 2026Investor Overview
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Forward Looking StatementsThis presentation contains forward-looking statements. These forward-looking statements reflect our current views with respect to, among other things, future events and ourfinancial performance. Any statements about our management’s expectations, beliefs, plans, predictions, forecasts, objectives, assumptions or future events or performance arenot historical facts and may be forward-looking. These statements are often, but not always, made through the use of words or phrases such as “anticipate,” “believes,” “can,”“could,” “may,” “predicts,” “potential,” “should,” “will,” “estimate,” “plans,” “projects,” “continuing,” “ongoing,” “expects,” "optimistic," “intends” and similar words or phrases. Any orall of the forward-looking statements in this presentation may turn out to be inaccurate. The inclusion of forward-looking information in this presentation should not be regarded asa representation by us or any other person that the future plans, estimates or expectations contemplated by us will be achieved. We have based these forward-lookingstatements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations,business strategy and financial needs. Our actual results could differ materially from those anticipated in such forward-looking statements. Accordingly, we caution you that anysuch forward-looking statements are not a guarantee of future performance and that actual results may prove to be materially different from the results expressed or implied bythe forward-looking statements due to a number of factors. For details on some of the factors that could affect these expectations, see risk factors and other cautionary languageincluded in the Company's Annual Report on Form 10-K and other periodic and current reports filed with the Securities and Exchange Commission. While there is no assurancethat any list of risks and uncertainties or risk factors is complete, below are certain factors which could cause actual results to differ materially from those contained or implied inthe forward-looking statements: the strength of the United States (“U.S.”) economy in general and the strength of the local economies in which we conduct operations;geopolitical concerns, including acts or threats of terrorism and the ongoing wars in Israel, Iran and Ukraine; uncertainty in U.S. fiscal and monetary policy, including the interestrate policies of the Board of Governors of the Federal Reserve System; inflation, interest rate, market, and monetary fluctuations; volatility and disruptions in global capital andcredit markets; changes in U.S. trade policies, including the implementation of tariffs and other protectionist trade policies; the effects of federal government shutdowns, debtceiling standoff, or other fiscal policy uncertainty; competitive pressures on product pricing and services; success, impact, and timing of our business strategies, including marketacceptance of any new products or services; the impact of changes in financial services policies, laws, and regulations, including those concerning taxes, banking, securities, andinsurance, and the application thereof by regulatory bodies; cybersecurity threats and the cost of defending against them; climate change, and other catastrophic disasters; theeffectiveness of the Company's internal control over financial reporting and disclosure controls and procedures; the Company’s ability to remediate the material weakness in theCompany’s internal control over financial reporting; the effect of the IFH acquisition or any other acquisitions we have made or may make, including, without limitation, the failureto achieve the expected revenue growth and/or expense savings from such acquisitions, and/or the failure to effectively integrate an acquisition target into our operations,including the planned growth of Windsor AdvantageTM; and other factors that may affect our future results. Except as otherwise indicated, this presentation speaks as of the datehereof. The delivery of this presentation shall not, under any circumstances, create any implication that there has been no change in the affairs of the Company after the datehereof.Certain of the information contained herein may be derived from information provided by industry sources. The Company believes that such information is accurate and that thesources from which it has been obtained are reliable. The Company cannot guarantee the accuracy of such information, however, and has not independently verified suchinformation. While the Company is not aware of any misstatements regarding the industry data presented in this presentation, the Company’s estimates involve risks anduncertainties and are subject to change based on various factors. Similarly, the Company believes that its internal research is reliable, even though such research has not beenverified by independent sources.Non-U.S. GAAP Financial MeasuresThis presentation may include certain non–U.S. generally accepted accounting principles ("GAAP") financial measures intended to supplement, not substitute for, comparableGAAP measures. These non-GAAP financial measures should not be considered in isolation, and should be considered as additions to, and not substitutes for or superior to,measures of financial performance prepared in accordance with GAAP. There are a number of limitations related to the use of these non-GAAP financial measures versus theirnearest GAAP equivalents. For example, other companies may calculate non-GAAP financial measures differently or may use other measures to evaluate their performance, allof which could reduce the usefulness of the Company's non-GAAP financial measures as tools for comparison. If included in this presentation, see the Appendix to thispresentation for a reconciliation of the non-GAAP financial measures used in (or conveyed orally during) this presentation to their most directly comparable GAAP financialmeasures.Core Financial MeasuresAs used in this presentation, core net income, core fee revenue, core ROA, core ROE, ROTCE, core ROTCE, Core NIM, Core Loan Yield, Commercial Bank ACL CoverageRatio, and Tangible Book Value are non-GAAP financial measures. These non-GAAP financial metrics exclude the impact of income from the call of brokered time deposits,merger-related expenses and certain other pre-tax adjustments which are not indicative of operating performance and tax impacts of such adjustments. Reconciliations of theseand other non-GAAP measures to their comparable GAAP measures are set forth in the Appendix to this presentation.2
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CBNK Continued Strong Growth With Accelerated Investment Underway (1) Performance metrics and growth rates are annualized throughout this presentation unless otherwise noted(2) Balances through July 15thare preliminary and unaudited. They have not been subject to customary reconciliations and may not be indicative of final balances at quarter end.(3) Refer to Appendix for reconciliation of non-GAAP measures Loan growth of $59.5mm, 7.9% (annualized)Growth through July 15th(2)of $159.2mm YTD, or 10.0% annualizedDeposit growth of $79.1mm, 9.6% (annualized)Growth through July 15th(2)of $165.3mm YTD, or 10.0% annualizedCustomer Deposit growth of 20.3% (annualized), while reducing brokered deposits by 23.8% NIM of 5.64%; Core NIM(3) of 4.04% Fee Revenue growth of $1.0mm, or 29.6% (annualized), with contributions from nearly every major fee categoryROA of 1.52%; ROTCE of 15.51%Tangible Book Value per share of $23.45, an increase of 14.7%The Company declared a cash dividend on its common stock of $0.14 per share, a 16.7% increase from the prior quarter Q2 2026 Highlights(1)Net Income $14.3mmLoan Growth (annualized)7.9%Customer Deposit Growth(annualized)20.3%ROA1.52%ROTCE15.51% Q2 2026 3
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(in millions except per share data)Balance Sheet 2Q26 1Q26Annualized 2Q25 YoYAssets$ 3,890$ 3,808 8.6% $ 3,38914.8%Portfolio Loans3,0863,026 7.9% 2,74012.6%Deposits3,3713,292 9.6% 2,94114.6%Quarterly Financial Performance(1)2Q261Q26 QoQ 2Q25 YoYEarnings per Share, Diluted0.87$ 0.73$ 19.2% 0.78$ 11.3%Core Earnings per Share, Diluted(2)0.87$ 0.73$ 19.2% 0.85$ 2.9%Book Value per Share25.92$ 25.10$ 3.3% 22.92$ 13.1%Tangible Book Value per Share(2)23.45$ 22.62$ 3.7%20.64$ 13.6%Return on Average Assets (“ROA”)1.52%1.33%19 bps1.60%-8 bpsCore ROA(2)1.52%1.33%19 bps1.73%-21 bpsReturn on Average Tangible Common Equity (“ROTCE”)(2)15.51%13.58%193 bps16.10%-59 bpsCore ROTCE(2)15.51%13.58%193 bps17.39%-188 bpsEfficiency Ratio66.14%69.59%-344 bps65.14%101 bpsCore Efficiency Ratio(2)66.14%69.59%-344 bps62.84%331 bpsNet Interest Margin5.64%5.71%-7 bps6.04%-40 bpsCore Net Interest Margin(2)4.04%4.15%-11 bps4.42%-38 bps Capital Bancorp, Inc. (NASDAQ-CBNK)Financial Highlights Corporate TimelineFounded as Harbor Capital National BankRecapitalized by investor group led by Stephen AshmanAcquired three failed institutions including OpenSky®CEO Ed Barry joined Capital BankAssets exceed $1 billionSuccessful IPO and inclusion in R2000OpenSky®accounts exceed 168,0001999 2002 2011 2012 2017 2018Originated $371 million SBA-PPP loans (2020 & 2021)2020Assets exceed $2 billionOpenSky®accounts exceed 700,000Dividend initiated2021(1) Performance metrics are annualized throughout this presentation(2) Refer to Appendix for reconciliation of non-GAAP measuresAssets exceed $3.2 billionCapital Bank completes acquisition of IFH20244
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$3.4BnQ2 ‘26 Servicing Portfolio$6.6mmQ2 ‘26 Revenue3• Loan service provider that offers community banks and credit unions with a comprehensive outsourced U.S. Small Business Administration (“SBA”) 7(a) and U.S. Department of Agriculture (“USDA”) lending platform• Servicing portfolio complements USDA / SBA gain on sale revenue within commercial bank• Poised to benefit from higher industry-wide SBA volumes CBNK Business Model is Uniquely Diversified Source: Company Documents.Note: CBNK financial metrics as of June 30, 2026 unless otherwise stated.1 Volume in FY 2021 was approximately $1.0 billion and volume in FY 2022 was approximately $300 million.2 Credit card loans are presented net of reserve for interest and fees.3 Includes $1.3 million of Capital Bank related servicing fees4 Excludes $1.8 million loss in Capital Bank Home Loans, $1.4 million of net income in Church Street Capital and $0.2mm of other income. 5 Excludes $0.9 million of net loss in Capital Bank Home Loans. Commercial BankOpenSky Windsor Advantage Commercial BankingGovernment Guaranty Lending (GGL)•Nationwide GGL business with niche expertise in Solar and Renewable Energy•Strong C&I pipeline with proven ability to originate $150+ million per year of loans$2.9BnPortfolio Gross Loans, ex. OpenSky $3.0BnCustomer Deposits• Focused on our core markets and filling out our national deposit vertical strategy• High value-added services and targeted vertical expertise generates above-average risk-adjusted loan yields• The Commercial Banking division operates within a corridor extending from Raleigh, North Carolina to Delaware, with seven full-service banking locations, four of which are in the DMV Metropolitan Statistical Area (“MSA”), and its locations in Ft. Lauderdale, Florida in the Miami Metro Area MSA, and in Chicago, Illinois in the Chicago MSA$36.4mmQ2‘26 RevenueFully-Allocated Illustrative Net Income Contribution5 $106.9mmQ2 ‘26 Volume1$1.9mmQ2 ‘26 Revenue• Nationwide lender, primarily mortgage banking; Certain retained loans within DMV area• Gain on sale margin returning to normalized levels; Well-positioned for rate changes• Expense management delivering profitability on a marginal basis while maintaining robust origination capabilities• Natural hedge against modest structural asset sensitivity of the balance sheet $166mmDeposits$145.3mmLoans, net2• Nationwide, secured credit card to help under-banked customers (re)establish their credit with opportunities for graduation into unsecured credit• Building capabilities to cross-sell products and services as card-holders progress on their customer journeys• Extend unsecured to graduating customers and building capabilities for a direct-to-unsecured product• Have begun testing limited offers to new customers; activity remains insignificant to overall portfolio and balances expected to remain de minimis through year end as management monitors performance$20.4mmQ2’26 RevenueCapital Bank Home LoansOpenSky Windsor Advantage FY 20234 Q2 2026 5
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Financial Information
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Net Interest Income and Margin$ in thousands 7(1) Refer to Appendix for reconciliation of non-GAAP measures. (2) Total net interest income includes negligible net interest income from CBHL Loan Yield and Deposit Rate Trends Cumulative Downcycle Betas(3) Deposit betas are cumulative for the current cycle easing rate cycle (since August 2024); Interest-bearing Deposit Betas include Brokered CD’s(4) Loan yields and deposit rate trends include net purchase accounting adjustmentsNote:3Q 2025 includes the $4.6 million (56 bps of NIM or 59 bps of Core NIM) Call of Brokered Time Deposits and $1.3 million (16 bps of NIM or 17 bps of Core NIM) Interest Income Adjustment. Excluding these items, 3Q 2025 NIM would have been 5.96% and Core NIM would have been 4.24%.Net PAA Contribution to Core NIM$1.3mm or 16bps $0.9mm or 11bps $0.2mm or 2bps $0.4mm or 5bps $0.3mm or 4bps Core NIM(1)excluding change in net PAA, FAS 91 and NPAs was 4.10% for 2Q26Core Loan Yield(1)excluding change in net PAA, FAS 91, and NPAs was 6.86% for 2Q26
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Core Fee Revenue$ in thousands 8 $4,323 $4,476 $4,847 $4,704 $4,425 $1,541 $1,762 $1,784 $1,378 $1,829 $(566)$(509)$845 $761 $341 $3,112 $923 $1,207 $4,696 $5,339 $4,988 $5,607 $6,559 21.6%18.9%19.9%21.3%22.0% 2Q25 3Q25 4Q25 1Q26 2Q26OpenSkyCBHLCommercial BankGGLWindsor AdvantageOther(1)
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Noninterest Expense$ in thousands 9Note: Other expense includes loan processing expense, outside service providers expense, regulatory expense, office expense and other operational lossesRefer to Appendix for reconciliation of Core, non-GAAP measures.Advanced strategic investments in OpenSkyTMunsecured card, OpenSkyTM card partnerships, data infrastructure, and back-office support to enhance scalability and long-term growth Continued investment in planned headcount growth across the Company$18,460 $17,728 $17,914 $20,317 $20,067 $2,995 $2,849 $2,638 $3,562 $3,942 $2,422 $2,131 $4,294 $4,965 $4,125 $7,520 $7,654 $7,502 $7,767 $7,551 $1,371 $1,714 $1,398 $1,466 $1,816 $5,406 $5,581 $5,356 $5,604 $5,685 $1,398 $697 $39,572 $38,354 $39,103 $43,681 $43,186 62.8%64.4%62.3%69.6%66.1% 2Q25 3Q25 4Q25 1Q26 2Q26Salaries and employee benefitsOccupancy and equipmentProfessional feesData processingAdvertisingOther expenseMerger-related expensesCore Efficiency Ratio
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Profitability(1) 10(1) AnnualizedNote: Refer to Appendix for reconciliation of Core, non-GAAP measures.
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Cash & Cash Equivalents…Portfolio Loans (gross)79%AFS Securities Portfolio6%Other Assets4%Asset Composition2Q26Total Assets:$3.9BBalance Sheet Composition Commentary• Gross loan growth of $59.5 million, or 7.9% (annualized), during 2Q26.• Compared to March 31, 2026, growth was primarily driven by $34.8 million from CRE, $10.5 million Open Sky Card and $5.0 million from construction real estate.• C&l loans, plus owner-occupied CRE loans, totaled 37.4% of total portfolio loans at June 30, 2026, 38.3% for the prior quarter, and 37.6% at June 30, 2025.11(1) Other is comprised of lender finance of $43.8 million, business equity lines of credit of $4.2 million, other consumer loans of $4.8 million and deferred origination fees, net of $4.0 million.Note: Portfolio loans are presented net of deferred fees and costs of $4.0 million. Credit Card loans are presented net of reserve for interest and fees. C&I + OO-CRE represents 37% of total Portfolio Loans
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Composition of Deposits Commentary• Total deposits increased $79.1 million, or 9.6% (annualized) from 1Q26; Excluding $72.1 million of intentional brokered deposit decline tied to lower liquidity needs, total customer deposits increased $151.1 million or 20.3% annualized • Reduced brokered deposits by 23.8% (annualized)• Loans-to-deposit ratio of 91.5%.• The total cost of deposits of 2.29% for 2Q 2026 decreased 5 bps compared to the prior quarter and decreased 7 bps year-over-year. • The total cost of interest-bearing deposits decreased 8 bps quarter-over-quarter, and decreased 20 bps year-over-year, to 3.09% for 2Q 2026.• Insured and protected deposits were approximately $2.2 billion as of June 30, 2026 representing 66.6% of the Company's deposit portfolio.12(1) Annualized (in thousands)Deposits: Balance% of Total DepositsAverageRate(1)Noninterest-bearing 897,363$ 26.6% 0.00%Interest-bearing demand 391,544 11.6% 0.94%Savings 23,077 0.7% 1.58%Money markets 1,390,778 41.3% 3.29%Time deposits 668,341 19.8% 3.80%Total deposits 3,371,103$ 100.0% 2.29%As of or For the Three Months EndedJune 30, 2026
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Investment Portfolio and Liquidity Investment Securities Portfolio• Classified as available for sale with a fair market value of $219.9 million, or 5.7% of total assets, with an effective duration of 2.5 years.• U.S. Treasuries represent 60% of the overall investment portfolio.• The accumulated other comprehensive loss on the investment securities portfolio of $6.3 million represents 1.5% of total stockholders’ equity and $0.39 of TBVPS.• The Company does not have a held to maturity investment securities portfolio.13 High Quality, Low Risk Investment Portfolio Sources of Liquidity at June 30, 2026:• $699 million of collateralized lines of credit include:• $572 million of available borrowing capacity from the FHLB.• $127 million of available borrowing capacity from the Federal Reserve Bank of Richmond’s discount window.• Available lines of credit with other correspondent banks totaled $96 million.• Unpledged investment securities available as collateral for potential additional borrowings totaled $6.2 million. Significant Liquidity Capacity $ in millions
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Credit Metrics 14(1) Refer to Appendix for reconciliation of non-GAAP measures. 3 loan relationships accounted for 37% of non-performing loans in 2Q263 loan relationships accounted for 35% of NPAs in 2Q26Excluding nonaccrual loans from one loan relationship, NPAs would have been 1.31%Excluding nonaccrual loans from one loan relationship, NPLs would have been 1.53%
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Robust Capital Ratios 15Note: Ratios presented are for Capital Bank unless otherwise noted(1) Estimated ratio at June 30, 2026
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Share Appreciation Outperforms Industry 16 Share Price Change Since CBNK IPO on 9/26/20181TBVPS + Dividend Growth Since 2018Q3 100%+ Outperformancevs. both groups 155%+ Outperformancevs. both groups Source: S&P Global Market Intelligence; FactSet.Note: Market data as of 7/22/2026.1 CBNK IPO price of $12.50 used as starting price for price change calculation.2 Select banks with assets between $1.5 billion and $5.0 billion in the Mid-Atlantic (North of Richmond) and New England Region. (ACNB, BCBP, BPRN, BWFG, FRBA, FRST, FVCB, HNVR, JMSB, MNSB, MRBK, MVBF, PKBK, UNTY).0%20%40%60%80%100%120%140%160%180%200% CAGR % ChangeCBNK 15.7% 210%KBW NASDAQ Regional Banking Index 10.1% 110%Selected Banks2 Median8.7% 91% 58.48%(60%)(40%)(20%)0%20%40%60%80%100%120%140%160%180% % ChangeCBNK 184%KBW NASDAQ Regional Banking Index 29%Selected Banks2 Median26%
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Jake DalayaChief Financial Officer(301)-637-5118NASDAQ: CBNK
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Non-U.S. GAAP Financial Measures
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Core Earnings Metrics(in thousands, except per share data)June 30, 2026 March 31, 2026 December 31, 2025 September 30, 2025 June 30, 2025Net Income14,250$ 12,018$ 15,037$ 15,065$ 13,136$ Deduct: Income from the Call of Brokered Time Deposits, Net of Tax - - - (3,489) - Add: Merger-Related Expenses, Net of Tax - - - 575 1,070 Core Net Income14,250$ 12,018$ 15,037$ 12,151$ 14,206$ Weighted average common shares - Diluted16,373 16,441 16,493 16,844 16,802 Earnings per share - Diluted0.87$ 0.73$ 0.91$ 0.89$ 0.78$ Core Earnings per share - Diluted0.87$ 0.73$ 0.91$ 0.72$ 0.85$ Average Assets3,761,511$ 3,651,812$ 3,498,540$ 3,378,296$ 3,292,533$ Return on Average Assets(1)1.52%1.33%1.71%1.77%1.60%Core Return on Average Assets(1)1.52% 1.33% 1.71% 1.43% 1.73%Average Equity414,044$ 405,302$ 391,750$ 383,922$ 371,795$ Return on Average Equity(1)13.80% 12.03% 15.23% 15.57% 14.17%Core Return on Average Equity(1)13.80% 12.03% 15.23% 12.56% 15.33%Net Interest Income50,929$ 49,398$ 50,279$ 52,020$ 47,646$ Noninterest Income14,361 13,373 12,464 11,068 13,106 Total Revenue65,290$ 62,771$ 62,743$ 63,088$ 60,752$ Noninterest Expense43,186 43,681 39,103 38,354 39,572 Efficiency Ratio(2)66.1% 69.6% 62.3% 60.8% 65.1%Net Interest Income50,929$ 49,398$ 50,279$ 52,020$ 47,646$ Deduct: Income from the Call of Brokered Time Deposits - - - 4,618 - Core Net Interest Income (a)50,929$ 49,398$ 50,279$ 47,402$ 47,646$ Noninterest Income (b)14,361 13,373 12,464 11,068 13,106 Core Revenue (a) + (b)65,290$ 62,771$ 62,743$ 58,470$ 60,752$ Noninterest Expense43,186 43,681 39,103 38,354 39,572 Less: Merger-Related Expenses -$ -$ -$ 697$ 1,398$ Core Noninterest Expense43,186$ 43,681$ 39,103$ 37,657$ 38,174$ Core Efficiency Ratio(2)66.1% 69.6% 62.3% 64.4% 62.8%(1) Annualized(2) The efficiency ratio is calculated by dividing noninterest expense by total revenue (net interest income plus noninterest income). Quarters EndedReconciliation of Non-GAAP Information 19
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Reconciliation of Non-GAAP Information 20 Tangible Book Value Per Share(in thousands, except per share amount)June 30, 2026 March 31, 2026 December 31, 2025 September 30, 2025 June 30, 2025Total Stockholders' Equity422,205$ 408,859$ 401,757$ 394,770$ 380,035$ Less: Intangible assets 40,219 40,480 40,740 41,002 37,773 Tangible Common Equity381,986$ 368,379$ 361,017$ 353,768$ 342,262$ Period End Shares Outstanding 16,289,888 16,286,480 16,373,288 16,589,241 16,581,990 Tangible Book Value Per Share23.45$ 22.62$ 22.05$ 21.33$ 20.64$ Core Net Interest Margin(1)(in thousands)June 30, 2026 March 31, 2026 December 31, 2025 September 30, 2025 June 30, 2025Net Interest Income50,929$ 49,398$ 50,279$ 52,020$ 47,646$ Less: Credit Card Loan Income 15,808$ 14,882$ 16,196$ 15,386$ 14,116$ Net Interest Income Excluding Credit Card35,121$ 34,516$ 34,083$ 36,634$ 33,530$ Average Interest Earning Assets 3,619,887 3,509,115 3,360,576 3,246,653 3,163,421 Less: Average Credit Card Loans 137,052 133,712 133,858 129,100 121,414 Average Core Interest Earning Assets3,482,835$ 3,375,403$ 3,226,718$ 3,117,553$ 3,042,007$ Core Net Interest Margin4.04% 4.15% 4.19% 4.66% 4.42%(1) AnnualizedCore Loan Yield(1)June 30, 2026 March 31, 2026 December 31, 2025 September 30, 2025 June 30, 2025Portfolio Loans Receivable Interest Income65,110$ 64,009$ 64,670$ 60,610$ 60,647$ Less: Credit Card Loan Income 15,808$ 14,882$ 16,196$ 15,386$ 14,116$ Core Portfolio Loans Receivable Interest Income49,302$ 49,127$ 48,473$ 45,223$ 46,531$ Average Portfolio Loans Receivable 3,058,476 3,008,187 2,902,033 2,789,815 2,733,865 Less: Average Credit Card Loans 137,052 133,712 133,858 129,100 121,414 Total Core Average Portfolio Loans Receivable2,921,424$ 2,874,475$ 2,768,175$ 2,660,715$ 2,612,451$ Core Portfolio Loans Receivable Yield6.77% 6.93% 6.95% 6.74% 7.14%(1) Annualized Quarters EndedQuarters EndedQuarters Ended
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Reconciliation of Non-GAAP Information 21 Return on Average Tangible Common Equity(in thousands)June 30, 2026 March 31, 2026 December 31, 2025 September 30, 2025 June 30, 2025Net Income14,250$ 12,018$ 15,037$ 15,065$ 13,136$ Add: Intangible Amortization, net of tax 201 197 200 199 200 Net Tangible Income14,451$ 12,215$ 15,237$ 15,264$ 13,336$ Average Equity414,044 405,302 391,750 383,922 371,795 Less: Average Intangible Assets 40,377 40,628 40,884 37,706 39,534 Net Average Tangible Common Equity373,667$ 364,674$ 350,866$ 346,216$ 332,261$ Return on Average Equity13.80% 12.03% 15.23% 15.57% 14.17%Return on Average Tangible Common Equity15.51% 13.58% 17.23% 17.49% 16.10%Core Return on Average Tangible Common Equity(in thousands)June 30, 2026 March 31, 2026 December 31, 2025 September 30, 2025 June 30, 2025Net Income, as Adjusted14,250$ 12,018$ 15,037$ 12,151$ 14,206$ Add: Intangible Amortization, net of tax 201 197 200 199 200 Core Net Tangible Income14,451$ 12,215$ 15,237$ 12,350$ 14,406$ Core Return on Average Tangible Common Equity15.51% 13.58% 17.23% 14.15% 17.39%Quarters EndedQuarters Ended
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Net Charge-offs to Average Portfolio Loans(1)(in thousands)June 30, 2026 March 31, 2026 December 31, 2025 September 30, 2025 June 30, 2025Total Net Charge-offs3,834$ 2,994$ 2,373$ 2,476$ 5,088$ Total Average Portfolio Loans3,058,476 3,008,187 2,902,033 2,789,815 2,733,865 Net Charge-offs to Average Portfolio Loans(1)0.50% 0.40% 0.32% 0.35% 0.75%Nonperforming Loans to Total Portfolio Loans(in thousands)June 30, 2026 March 31, 2026 December 31, 2025 September 30, 2025 June 30, 2025Total Nonperforming Loans56,987$ 55,417$ 54,421$ 52,247$ 36,167$ Total Portfolio Loans3,085,950 3,026,431 2,959,457 2,821,983 2,739,808 Nonperforming Loans to Total Portfolio Loans1.85% 1.83% 1.84% 1.85% 1.32%Allowance for Credit Losses to Total Portfolio Loans(in thousands)June 30, 2026 March 31, 2026 December 31, 2025 September 30, 2025 June 30, 2025Allowance for Credit Losses54,431$ 54,680$ 54,660$ 53,045$ 47,447$ Total Portfolio Loans3,085,950 3,026,431 2,959,457 2,821,983 2,739,808 Allowance for Credit Losses to Total Portfolio Loans1.76% 1.81% 1.85% 1.88% 1.73%Commercial Bank Allowance for Credit Losses to Commercial Bank Portfolio Loans(in thousands)June 30, 2026 March 31, 2026 December 31, 2025 September 30, 2025 June 30, 2025Allowance for Credit Losses54,431$ 54,680$ 54,660$ 53,045$ 47,447$ Less: Credit Card Allowance for Credit Losses8,904 7,802 8,232 7,413 6,762 Commercial Bank Allowance for Credit Losses45,527$ 46,878$ 46,428$ 45,632$ 40,685$ Total Portfolio Loans3,085,950 3,026,431 2,959,457 2,821,983 2,739,808 Less: Gross Credit Card Loans141,446 131,887 137,905 130,897 126,233 Commercial Bank Portfolio Loans2,944,504$ 2,894,544$ 2,821,552$ 2,691,086$ 2,613,575$ Commercial Bank Allowance for Credit Losses to Commercial Bank Portfolio Loans1.55% 1.62% 1.65% 1.70% 1.56%(1) AnnualizedQuarters EndedQuarters EndedQuarters EndedQuarters EndedReconciliation of Non-GAAP Information 22