2021 Annual Report

As of and for the year ended December 31,

(dollars in thousands)

2021

2020

2019

2018

2017

Tangible Common Equity and Tangible Common Equity/Tangible Assets Total Shareholders' Equity . . . . . . . . . . . . . . Less: Preferred Stock . . . . . . . . . . . . . . . . . .

$ 379,272 $ 265,405 $ 244,794 $ 220,998 $ 137,162

(66,514) — Total Common Shareholders' Equity . . . . . . 312,758 265,405 244,794 220,998 137,162 Less: Intangible Assets . . . . . . . . . . . . . . . . . (3,105) (3,296) (3,487) (3,678) (3,869) Tangible Common Equity . . . . . . . . . . . . . $ 309,653 $ 262,109 $ 241,307 $ 217,320 $ 133,293 Total Assets . . . . . . . . . . . . . . . . . . . . . . . . . . $ 3,477,659 $ 2,927,345 $ 2,268,830 $ 1,973,741 $ 1,616,612 Less: Intangible Assets . . . . . . . . . . . . . . . . . (3,105) (3,296) (3,487) (3,678) (3,869) Tangible Assets . . . . . . . . . . . . . . . . . . . . . $ 3,474,554 $ 2,924,049 $ 2,265,343 $ 1,970,063 $ 1,612,743 Tangible Common Equity/Tangible Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . 8.91 % 8.96 % 10.65 % 11.03 % 8.26 % Tangible Book Value Per Share Book Value Per Common Share . . . . . . . . . . $ 11.09 $ 9.43 $ 8.45 $ 7.34 $ 5.56 Less: Effects of Intangible Assets. . . . . . . . . (0.11) (0.12) (0.12) (0.12) (0.16) Tangible Book Value Per Common Share . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 10.98 $ 9.31 $ 8.33 $ 7.22 $ 5.40 Return on Average Tangible Common Equity Net Income Available to Common Shareholders . . . . . . . . . . . . . . . . . . . . . . . . $ 44,516 $ 27,194 $ 31,403 $ 26,920 $ 16,889 Average Shareholders' Equity. . . . . . . . . . . . $ 316,237 $ 258,736 $ 232,539 $ 194,083 $ 128,123 Less: Average Preferred Stock . . . . . . . . . . . (24,915) — — — — Average Common Equity . . . . . . . . . . . . . . . 291,322 258,736 232,539 194,083 128,123 Less: Effects of Average Intangible Assets . (3,204) (3,395) (3,582) (3,772) (3,956) Average Tangible Common Equity . . . . . $ 288,118 $ 255,341 $ 228,957 $ 190,311 $ 124,167 — — —

Return on Average Tangible Common Equity . . . . . . . . . . . . . . . . . . . . . . . . . . .

15.45 %

10.65 %

13.72 %

14.15 %

13.60 %

As of and for the year ended December 31,

(dollars in thousands)

2021

2020

2019

2018

2017

Adjusted Diluted Earnings Per Common Share

Net Income Available to Common Shareholders . . . . . . . . . . . . . . . . . . . . . . . . . Add: Debt Prepayment Fees . . . . . . . . . . . . . . Less: Tax Impact . . . . . . . . . . . . . . . . . . . . . . . Net Income, Excluding Impact of Debt Prepayment Fees . . . . . . . . . . . . . . . . . . .

$

44,516 $

27,194 $ 31,403 $

26,920 $ 16,889

582

7,043 (1,676)

— —

— —

— —

(151)

$

44,947 $

32,561 $ 31,403 $

26,920 $ 16,889

Diluted Weighted Average Shares Outstanding. . . . . . . . . . . . . . . . . . . . . . . . . . 28,968,286 29,170,220 29,996,776 29,436,214 25,017,690 Adjusted Diluted Earnings Per Common Share . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 1.55 $ 1.12 $ 1.05 $ 0.91 $ 0.68

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