Bank Directors Seminar, Coeur d'Alene, ID

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Market Disruption – Oregon

Significant disruption in the Oregon banking market with roughly half of the top-30 banks going away since 2007

Oregon - 2007 Rank

Oregon - 2017 Rank

PNW HQ Institution (State)

Number of Branches

Deposits in Market

Market Share

PNW HQ Institution (State)

Number of Branches

Deposits in Market

Market Share

Total

1 2

- -

U.S. Bancorp (MN) Wells Fargo & Co. (CA)

190 127 105

8,880,707 $ 18.52% 5,946,346 $ 12.40% 5,696,173 $ 11.88% 5,552,890 $ 11.58%

1 2 3 5 6

- - - - -

U.S. Bancorp (MN) Wells Fargo & Co. (CA) Bank of America Corp. (NC)

193 116

15,765,750 $ 20.77% 12,444,151 $ 16.40% 9,885,551 $ 13.03% 7,753,948 $ 10.22%

3 1 Washington Mutual Inc. (WA)

45 89 70 64 32 23 44 46

Bank of America Corp. (NC)

89 70 64 68 51 21 26 15 20 32 23 11 14 13 12 11

4 1 Umpqua Holdings Corp. (OR)

5 2 Umpqua Holdings Corp. (OR)

3,466,114 $ 3,209,002 $ 2,024,244 $ 1,607,396 $ 1,232,565 $ 1,051,773 $

7.23% 6.69% 4.22% 3.35% 2.57% 2.19% 1.61% 1.60% 1.56% 1.29% 1.27% 1.03% 1.03% 0.62% 0.57% 0.53% 0.52% 0.48% 0.46% 0.44% 0.43% 0.37% 0.35% 0.35% 0.34% 0.32%

JPMorgan Chase & Co. (NY)

109

6,997,154 $ 4,328,722 $ 4,202,156 $ 2,118,442 $ 1,924,439 $ 1,806,640 $ 1,805,041 $

9.22% 5.70% 5.54% 2.79% 2.54% 2.38% 2.38% 0.93% 0.81% 0.53% 0.52% 0.52% 0.45% 0.45% 0.43% 0.43% 0.37% 0.33% 0.31% 0.31% 0.29% 0.28% 0.26% 0.25% 0.23% 0.20%

KeyCorp (OH)

7 3 Sterling Financial Corp. (WA) 8 4 West Coast Bancorp (OR) 9 5 Cascade Bancorp (OR) 10 6 Washington Federal Inc. (WA) 11 7 Liberty Financial Group Inc. (OR) 12 8 Columbia Bancorp (OR) 14 9 PremierWest Bancorp (OR) 15 10 Pacific Continental Corp. (OR) 16 11 South Valley Bancorp Inc. (OR) 13 - BNP Paribas SA 20 15 First FS&LA of McMinnville (OR) 21 16 Evergreen Federal Bank (OR) 22 17 Siuslaw Financial Group Inc. (OR) 23 18 Premier Commercial Bancorp (OR) 25 20 Sortis Holdings Inc. (OR) 26 21 Bank of Salem (OR) 27 22 Home Valley Bancorp Inc. (OR) 24 19 PTB Corp. (OR) 17 12 Banner Corp. (WA) 18 13 Community Bancshares Inc. (OR) 19 14 Citizens Bancorp (OR)

7 2 Columbia Banking System Inc. (WA) 8 3 First Interstate BancSystem Inc. (MT)

BNP Paribas SA

10 4 Banner Corp. (WA)

$ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $

771,145 764,893 747,486 618,471 611,177 494,810 493,940 297,524 271,144 253,735 251,511 229,404 219,487 209,168 207,767 178,168 170,103 168,945 164,313 151,044

11 5 Washington Federal Inc. (WA)

12 -

First Republic Bank (CA)

$ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $

707,917 611,461 401,115 395,580 394,777 345,311 341,219 327,786 325,528 277,689 252,054 238,312 232,126 220,108 214,566 200,714 191,509 172,955 151,641

13 6 Citizens Bancorp (OR) 14 7 PTB Corp. (OR)

2 3 5 7 7 2 5 6 5 6 6 2 6 4 2

15 -

Mitsubishi UFJ Financial Group Inc.

16 8 Evergreen Federal Bank (OR) 17 9 First FS&LA of McMinnville (OR) 18 10 Heritage Financial Corp. (WA)

19 11 BEO Bancorp (OR)

14 11

7 7 4 2 5 3 4 5 6

20 12 Community Bancshares Inc. (OR)

21 13 Summit Bank (OR)

22 14 People's Bank of Commerce (OR)

23 -

Beneficial State Foundation (CA)

24 15 HomeStreet Inc. (WA) 25 16 Riverview Bancorp Inc. (WA) 26 17 Oregon Pacific Bancorp (OR) 27 18 W.T.B. Financial Corp. (WA) 28 19 Oregon Coast Bancshares Inc. (OR)

28 23 BEO Bancorp (OR)

29 24 Columbia Banking System Inc. (WA)

29 20 CCB Financial Corp. (OR)

30 25 Prineville BanCorp. (OR)

30 21 GWY LLC (WA)

1,088 $ 47,943,926

Total For Institutions In Market Total Disruption (14 Companies)

966 $ 75,892,648

Total For Institutions In Market

355

14,769,080 $ 30.80%

Source: S&P Global Market Intelligence Note: Deposit data as of 6/30 for the respective year

Q2 2018 Financial Performance – Pacific Northwest Banks

Q2 2018 was a strong quarter for banks in the Pacific Northwest

Annual Loan and Deposit Growth

Return on Average Assets

10.0% 11.0% 12.0%

1.40%

1.29%

11.3%

1.20%

1.16%

10.2%

1.00%

9.7%

1.04%

4.0% 5.0% 6.0% 7.0% 8.0% 9.0%

9.0%

8.8%

0.80%

8.2%

0.60%

0.40%

0.20%

0.00%

Loan Growth Deposit Growth

Net Interest Margin

Cost of Deposits

0.60%

3.70% 3.80% 3.90% 4.00% 4.10% 4.20% 4.30% 4.40%

4.35%

0.50%

4.30%

0.49%

4.22%

0.40%

0.36%

4.11%

0.30%

0.28%

4.00%

0.20%

3.93%

0.10%

0.06%

0.05%

0.02%

0.00%

Cost of Deposits

NIM Q1'18 NIM Q2'18

Δ vs. Pr. Qtr.

Source: S&P Global Market Intelligence, regulatory data as of 6/30/2018 Note: Average data Note: ROAA is S-Corp adjusted

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