Community Heritage Financial, Inc. · OTC:CMHF
Community Heritage Financial — Q2 2026 Earnings Presentation
36 slides from Community Heritage Financial's earnings presentation, 2026
Slide 1: Community Heritage Financial Investor Presentation Second Quarter 2026
OTC ID: CMHF Community Heritage Financial Investor Presentation Second Quarter 2026 1
Slide 2: Confidentiality Notice and Safe Harbor Statement
Confidentiality Notice and Safe Harbor Statement This presentation contains forward-looking statements. Any statements about our expectations, beliefs, plans, predictions, forecasts, objectives, assumptions or future events or performance are not historical facts and may be forward-looking. You can
Slide 3: A Brief History
A Brief History Middletown Valley Bank (“MVB” or the “Bank”) is a 118-year-old Maryland state charted bank that offers commercial and retail banking services in the Maryland counties of Washington & Frederick, as well as Franklin County, PA. The Bank conducted a customer-facing technology assessment
Slide 4: Board of Directors
Board of Directors Name Field of Expertise CHF MVB Mlend Robert “BJ” E. Goetz Banking X X X2 James G. Pierne, Chairman Retired, Banking X1 X1 X1 Todd M. Snook, Vice Chairman Real Estate & Self-Storage X2 X2 John T. Routzahn III Insurance X X Frankie Corsi, III Accounting & Manufacturing X X A. Denni
Slide 5: Experienced Leadership Team
Experienced Leadership Team Joined Name Title Experience Expertise & Disciplines Prior Experience CHF Robert E. Goetz Jr. President & CEO | Director 28 years 2012 Commercial | Retail Banking Susquehanna Bank Brenda McComas EVP – Chief Risk Officer 33 years 2017 Bank & Mortgage Operations Susquehanna
Slide 6: Executive Summary
Executive Summary 6
Slide 7: Culture is the Priority
Culture is the Priority Fee nc ® ADVANCING FINANCIAL JOURNEYS One conversation | One connection | One community at a time
Slide 8: Absolutely Exceptional Experiences
Absolutely Exceptional Experiences Core Values Ongoing Leadership Development Training Record-Breaking Volunteerism & Community Support Growth & Development Wellness & Employee Enrichment Committee Bi-Annual Employee Engagement Assessment Low Attrition Rates 8
Slide 9: Working for Our Communities in 2025
Working for Our Communities in 2025 Supported over Employees gave Over 90% of our 224 non-profit over 3,350 hours team members organizations & to local non-profit donated their families organizations time and talents Funded over $2.65 million in community development loans 9
Slide 10: Awards & Recognition
MVB Voted Top 3 Hottest Bank 9 Years in a Row Awards & Recognition MVB Voted Top 3 Best Bank 6 Years in a Row 10
Slide 11: Market Overview
Market Overview 11
Slide 12: Market Overview
Market Overview Frederick County, MD • Deposits - $430.2 million in 4 branches. The Market St. Branch in Downtown Frederick opened in October 2024 and has $41.3 million in deposits as of 6/30/26. • Population – 280,300 with growth expectation of 5.1% vs 2.7% for the State.* • Median household income
Slide 13: Branch Network
Branch Network Oo} a wo Mercersburg Gettysburg Meyersdale .e a ui Greencastle Hanover, go [var @. 52 iiesow ge eimtovile “a iancock Emmitsburg Frestburg cumbefland So pity J (3 Taneytown springs Thurmont ny waren Westminster McHenry ~f 4 PawPaw G5 a (==) i Westempont (Fort Ashby 3 Walkersville Cocke
Slide 14: Banking Locations & Deposit Info (Bank level)
Banking Locations & Deposit Info (Bank level) ($s in thousands) Location 6/30/2020 6/30/2025 6/30/2026 Middletown Branch Middletown $175,443 $209,376 $208,887 Jefferson Branch Branch(s) Jefferson $63,767 $99,461 $103,222 Myersville Branch Branch Myersville Boonsboro Branch $46,271 $69,836 $76,754 Br
Slide 15: Deposit Market Share
Deposit Market Share* Frederick County, MD 2025 2024 Total Total $$ YOY Total Total Deposits Market Variance Deposits Market Rank Institution ($000s) Share (%) ($000s) Locations ($000s) Share (%) 1 PNC Bank, National Association 1,701,349 26.67% 34,156 11 1,667,193 25.6% 2 Truist Bank 1,032,491 16.1
Slide 16: Strategic Investment Portfolio Repositioning
Strategic Investment Portfolio Repositioning 16
Slide 17: Q2 Investment Portfolio Repositioning
Q2 Investment Portfolio Repositioning • Sold $73.3 million of securities AFS and HTM at weighted average yield of 2.73% • After-tax loss of $3.9 million1 • EPS impact - $1.33 • Capital impact2 - $5.5 million • TBV impact2 - $1.88 • Bank regulatory capital impact3 - $3.9 million • Proceeds totaling $
Slide 18: Capital
Capital 18
Slide 19: Capital Structure and Ownership
Capital Structure and Ownership • Common Stock • OTCID: CMHF • Shares outstanding – 2,948,143 • Subordinated Debt • Issued private placement of 10-year subordinated notes totaling $12.1 million in October 2024 • Rate structure: fixed at 6.75% through October 2029 then floating at SOFR plus 3.00% unt
Slide 20: Performance – Per Common Share
Performance – Per Common Share Net Book Value Per Share* Diluted Earnings Per Share $32.00 $4.00 $30.30 $3.45 $30.11 $3.50 $30.00 $2.84 $2.93 $3.00 $2.67 $29.73 $29.55 $2.50 $2.27 $28.00 $27.07 $2.06 $2.00 $1.48 $26.00 $25.30 $26.50 $1.50 $24.46 $0.97 $1.02 $1.00 $24.00 $23.10 $24.56 $0.50 $23.90 $-
Slide 21: Common Stock Performance
Common Stock Performance Common Stock Price Stock price As of June 30, 2026 $ 35.65 Market cap $ 105,101,298 Tangible book value $ 29.55 Trailing 4 quarters diluted EPS $ 2.06 Trailing 4 quarters diluted EPS* $ 3.45 Price to TBV 120.6% Price multiple to TTM EPS 17.3 Price multiple to TTM EPS* 10.3 3
Slide 22: Financial Review
Financial Review Ticker: CMHF 22
Slide 23: Balance Sheet
Balance Sheet ($ in thousands) Total Assets Loan Totals & Mix Deposit Totals & Mix $1,250,000 1,194,695 $1,250,000 $1,200,000 $1,129,080 $1,077,675 $1,020,380 $988,628 $973,494 $1,000,000 $984,804 $1,000,000 $1,000,000 $908,007 $930,132 $930,855 $879,007 $847,594 $841,826 $817,910 $812,933 $748,451
Slide 24: Loan Composition and Concentration
Loan Composition and Concentration ($ in thousands) June 30, 2026 Multifamily Consumer + Other Percent Farmland 2% <1% 5% Loan Type Balance Total Loans Loan Composition Contruction & Land Owner Occupied CRE $ 152,971 15.71% Owner Occupied Development C&I 144,279 14.82% 8% CRE Total C&I 297,250 30.53
Slide 25: Asset Quality
Asset Quality Allowance for Credit Losses NPAs/Total Assets and Total Loans Net Charge Offs/Loans 1.40% 0.40% 0.80% 0.34% 0.70% 0.35% 0.70% 1.30% 0.30% 0.60% 1.20% 0.23% 0.25% 0.22% 0.50% 0.22% 0.26% 1.10% 1.06% 1.06% 0.20% 0.18% 0.40% 1.04% 0.19% 0.15% 0.18% 0.18% 0.13% 0.30% 0.98% 0.98% 1.00% 0.95
Slide 26: Investment Portfolio
Investment Portfolio ($ in thousands) June 30, 2026 Sub-debt Available-for-Sale Book Market Percent Total Unrealized 11% (at Market Value) Value Value Investments Gain (Loss) MBS / CMO (fixed) $ 80,662 $ 74,888 63.94% $ (5,774) MBS / CMO MBS / CMO (floating) 174 179 0.15% 5 Municipal 64% 25% Municip
Slide 27: Deposit Information
Deposit Information ($ in thousands) June 30, 2026 Percent Deposit Type Balance Total Deposits Time Noninterest- Deposits Noninterest-bearing Demand $ 266,327 24.71% Bearing 18% Interest-bearing Demand 240,228 22.29% Demand Savings 77,224 7.17% 25% Money Market 304,001 28.21% Time Deposits 189,895 1
Slide 28: Financial Performance
Financial Performance ($ in thousands) Net Interest Margin Net Interest Income Net Income 4.00% $40,000 $10,000 3.78% $36,047 $8,653 3.75% 3.67% $30,688 $8,000 3.50% 3.42% $30,000 $27,459 $6,856 3.32% $26,119 $6,628 3.21% $24,174 $6,015 $5,871 3.25% $6,000 $20,591 3.00% 2.92% $20,000 $4,295 2.76% $4
Slide 29: Financial Performance
Financial Performance ($ in thousands) Noninterest Income Noninterest Expense $8,000 $30,000 $7,010 $26,998 $24,448 $24,845 $25,000 $6,000 $21,257 $19,899 $20,000 $3,929 $4,015 $14,344 $4,000 $3,590 $15,000 $3,263 $10,000 $2,032 $2,000 $5,000 $- $- 2021 2022 2023 2024 2025 Q2 2026 YTD* 2021 2022 202
Slide 30: Financial Performance
Financial Performance Efficiency Ratio Noninterest Expense as % of Avg. Assets 85.00% 3.00% 83.21% 80.00% 2.80% 75.00% 2.66% 72.48% 2.60% 2.52% 2.52% 70.00% 67.39% 2.51% 67.72% 2.43% 63.81% 63.41% 65.00% 2.40% 2.31% 60.00% 2.20% 55.00% 50.00% 2.00% 2021 2022 2023 2024 2025 Q2 2026 2021 2022 2023 202
Slide 31: Financial Performance
Financial Performance Return on Average Equity Return on Average Assets Total Risk-Based Capital* 14.00% 12.98% 1.20% 18.00% 11.99% 1.10% 1.04% 16.00% 12.00% 1.00% 10.86% 10.25% 14.00% 13.33% 13.10% 13.24% 13.14% 12.89% 0.90% 12.58% 10.00% 0.80% 0.78% 0.80% 8.81% 0.80% 12.00% 8.00% 0.70% 0.62% 10.00
Slide 32: Thank You.
Thank You. For more information, please visit our Investor Relations page at: https://www.communityheritageinc.com/corporate-overview/corporate-profile/default.aspx To sign up for e-mail alerts, go to: https://www.communityheritageinc.com/other-information/email-notification/default.aspx 32
Slide 33: Reconciliation of GAAP to non-GAAP Financial Measures
Reconciliation of GAAP to non-GAAP Financial Measures Ticker: CMHF 33
Slide 34: GAAP to non-GAAP Financial Measures
GAAP to non-GAAP Financial Measures Three Months Ended Six Months Ended 6/30/2026 3/31/2026 12/31/2025 9/30/2025 6/30/2025 6/30/2026 6/30/2025 Net Income GAAP Net income (loss) $ (1,098,152) $ 2,852,249 $ 2,368,250 $ 1,934,396 $ 2,468,004 $ 1,754,097 $ 4,350,640 Adjustments to net income: Loss on sa
Slide 35: GAAP to non-GAAP Financial Measures
GAAP to non-GAAP Financial Measures Three Months Ended Six Months Ended 6/30/2026 3/31/2026 12/31/2025 9/30/2025 6/30/2025 6/30/2026 6/30/2025 Salaries and Benefits GAAP Salaries and benefits $ 4,658,424 $ 3,979,145 $ 4,101,261 $ 3,861,631 $ 3,660,059 $ 8,637,569 $ 7,507,261 Adjustment to salaries a
Slide 36: GAAP to non-GAAP Financial Measures
GAAP to non-GAAP Financial Measures Three Months Ended Six Months Ended 6/30/2026 3/31/2026 12/31/2025 9/30/2025 6/30/2025 6/30/2026 6/30/2025 Annualized Return on Average Assets GAAP Annualized return on average assets -0.38% 1.02% 0.85% 0.70% 0.92% 0.31% 0.83% Effect of adjustments to net income 1
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