2021 Annual Report

Average Balances and Yields The following table presents, for the years ended December 31, 2021, 2020 and 2019, the average balances of each principal category of assets, liabilities and shareholders’ equity, and an analysis of net interest income. The average balances are principally daily averages and, for loans, include both performing and nonperforming balances. Interest income on loans includes the effects of net deferred loan origination fees and costs accounted for as yield adjustments. These tables are presented on a tax-equivalent basis, if applicable. (dollars in thousands) Interest Earning Assets: Cash Investments . . . . . . . . . . . . . . . . . $ 132,188 $ 199 0.15 % $ 80,113 $ 170 0.21 % $ 46,366 $ 755 1.63 % Investment Securities: Taxable Investment Securities . . . . . . . . 317,954 7,015 2.21 234,873 5,712 2.43 149,967 4,354 2.90 Tax-Exempt Investment Securities (1) . . . 75,313 3,242 4.30 87,587 3,807 4.35 101,012 4,327 4.28 Total Investment Securities . . . . . . 393,267 10,257 2.61 322,460 9,519 2.95 250,979 8,681 3.46 Paycheck Protection Program Loans (2) . 103,151 6,441 6.24 122,240 4,143 3.39 — — — Loans (1)(2) . . . . . . . . . . . . . . . . . . . . . . . 2,481,706 112,587 4.54 2,032,180 101,469 4.99 1,785,937 94,852 5.31 Total Loans . . . . . . . . . . . . . . . . . 2,584,857 119,028 4.60 2,154,420 105,612 4.90 1,785,937 94,852 5.31 Federal Home Loan Bank Stock . . . . . . 5,571 259 4.65 8,866 444 5.01 7,916 398 5.03 Total Interest Earning Assets. . . . . 3,115,883 129,743 4.16 % 2,565,859 115,745 4.51 % 2,091,198 104,686 5.01 % Noninterest Earning Assets . . . . . . . . . . 73,917 51,720 23,013 Total Assets . . . . . . . . . . . . . . . . . $ 3,189,800 $ 2,617,579 $ 2,114,211 Interest Bearing Liabilities: Deposits: Interest Bearing Transaction Deposits . . $ 441,528 $ 2,052 0.46 % $ 295,036 $ 1,626 0.55 % $ 223,376 $ 1,634 0.73 % Savings and Money Market Deposits . . . 773,779 3,729 0.48 523,520 5,341 1.02 447,040 7,747 1.73 Time Deposits. . . . . . . . . . . . . . . . . . . . 323,638 4,099 1.27 374,195 7,806 2.09 349,148 8,379 2.40 Brokered Deposits. . . . . . . . . . . . . . . . . 406,863 3,962 0.97 348,126 5,040 1.45 261,023 6,236 2.39 Total Interest Bearing Deposits . . . 1,945,808 13,842 0.71 1,540,877 19,813 1.29 1,280,587 23,996 1.87 Federal Funds Purchased . . . . . . . . . . . . 2,479 6 0.24 7,239 111 1.53 7,433 186 2.50 Notes Payable . . . . . . . . . . . . . . . . . . . . 1,658 61 3.66 11,749 439 3.73 13,750 501 3.64 FHLB Advances . . . . . . . . . . . . . . . . . . 53,294 831 1.56 148,524 3,390 2.28 133,968 3,407 2.54 Subordinated Debentures. . . . . . . . . . . . 82,865 4,630 5.59 50,954 3,109 6.10 24,686 1,556 6.30 Total Interest Bearing Liabilities . . 2,086,104 19,370 0.93 % 1,759,343 26,862 1.53 % 1,460,424 29,646 2.03 % December 31, 2021 December 31, 2020 December 31, 2019 Average Interest Yield/ Average Interest Yield/ Balance & Fees Rate Balance & Fees Rate Balance & Fees Rate Average Interest Yield/

Noninterest Bearing Liabilities: Noninterest Bearing Transaction Deposits . . . . . . . . . . . . . . . . . . . . . . 764,087 Other Noninterest Bearing Liabilities. . . 23,372 Total Noninterest Bearing Liabilities . . . . . . . . . . . . . . . . . 787,459 Shareholders' Equity . . . . . . . . . . . . . . . 316,237 Total Liabilities and Shareholders' Equity . . . . . . . . . . . . . . . . . . . . . . . . $ 3,189,800

579,595 19,905 599,500 258,736

414,377

6,871

421,248 232,539

$ 2,617,579

$ 2,114,211

Net Interest Income / Interest Rate Spread . . . . . . . . . . . . . . . . . . . . . . . . Net Interest Margin (3) . . . . . . . . . . . . . . Tax-Exempt Investment Securities and Loans . . . . . . . . . . . . . . . . . . Net Interest Income. . . . . . . . . . . . . . . . Taxable Equivalent Adjustment:

110,373 3.23 %

88,883 2.98 %

75,040 2.98 %

3.54 %

3.46 %

3.59 %

(864)

(919)

(908)

$ 109,509

$ 87,964

$ 74,132

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