Capital Bancorp, Inc. · NASDAQ:CBNK
Capital Bancorp — Merger or Acquisition (September 2026)
22 slides from Capital Bancorp's merger presentation, Sep 30, 2026
Slide 1: Acquisition of Capital Bancorp, Inc.
1 Acquisition of Capital Bancorp, Inc. (NASDAQ: CBNK) Transformational merger creating a powerful and diversified financial services franchise September 30, 2026
Slide 2: Safe Harbor Statement
2 Safe Harbor Statement Forward-Looking Statements This communication includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, which statements involve inherent risks and uncertainties. Examples of forward-looking statements include, but are n
Slide 3: Additional Information and Where to Find It and Participants
3 Additional Information and Where to Find It and Participants Additional Information and Where to Find It In connection with the proposed transaction, Peoples intends to file with the SEC a Registration Statement on Form S-4 to register the shares of Peoples common stock to be issued in connection
Slide 4: Transaction Highlights & Merger Rationale
4 Transaction Highlights & Merger Rationale Compelling Strategic Fit • Established, diversified business lines with demonstrated financial performance and ability to grow • Expands presence in attractive markets while adding nationwide specialty capabilities • Enhances earnings diversification and m
Slide 5: Pro Forma Scale and Financial Profile
5 Pro Forma Scale and Financial Profile (1) Estimated Enhanced Scale metrics shown at illustrative transaction close of 3/31/27 (2) Based on PEBO’s 20-day volume-weighted average closing price of $39.41 per share as of 09/29/2026 and 18.2M shares issued to CBNK (3) Fully-phased 2027E impacts assume
Slide 6: Adding to PEBO's Impressive M&A Track Record
6 $1.8 $1.8 $1.9 $2.0 $2.0 $1.9 $2.0 $2.2 $2.4 $2.5 $2.8 $2.9 $2.9 $3.4 $3.5 $3.8 $3.7 $0.6 $1.4 $1.4 $1.4 $1.6 $1.9 $2.0 $4.2 $4.3 $5.8 $5.8 $5.8 $5.8 $1.8 $1.8 $1.9 $2.1 $2.6 $3.3 $3.4 $3.6 $4.0 $4.4 $4.8 $7.1 $7.2 $9.2 $9.3 $9.6 $9.5 $14.3 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20 '21 '22 '23 '
Slide 7: Business Overview of Capital Bancorp, Inc.
7 Capital Bank Home Loans $106.9M 2026Q2 Volume $1.9M 2026Q2 Revenue ― Nationwide lender focused primarily on mortgage banking with select retained loans within the DMV area ― Provides a natural hedge against modest structural asset sensitivity of the balance sheet Windsor AdvantageTM $3.4B 2026Q2 S
Slide 8: Capital Bancorp: Strong Earnings and Growth Profile
8 LTM ROAA 1.09% 1.58% LTM ROAE 11.0% 14.1% LTM ROATCE 11.8% 16.0% LTM NIM 3.70% 5.90% Peers(1) Peers(1) Peers(1) Peers(1) 3y Asset CAGR 7% 20% 3y Loan CAGR 7% 19% 3y Deposit CAGR 7% 20% 3y TCE CAGR 12% 17% Peers(1) Peers(1) Peers(1) Peers(1) MRQ NPAs / AssetsMRQ Leverage RatioMRQ TCE Ratio 9.3% 9.9
Slide 9: Differentiated Deposit Franchise
9 Differentiated Deposit Franchise Note: “NIB” = non-interest bearing; no to low-interest bearing includes noninterest bearing deposits and interest-bearing demand and savings accounts; “HOA” = homeowners association; “PAC” = political action committee 27% NIB Deposits / Deposits 2.28% MRQ Cost of D
Slide 10: Complementary Capabilities Create Multiple Paths for Growth
10 Expand Capital’s specialty deposit verticals across Peoples’ existing footprint and commercial client base Scale the combined SBA & government guaranteed lending platform Introduce Peoples’ wealth and insurance products across Capital’s client base / markets Leverage the broader product suite to
Slide 11: Broader, More Diversified Pro Forma Business Mix
11 Broader, More Diversified Pro Forma Business Mix Brokered CDs, 4.0% Core Community Banking, 86.0% National Specialty Deposit Verticals, 10.0% Trust & Investment, 13.8% Electronic Banking, 15.1% Govt. Loan Servicing, 12.9% Deposit Service Fees, 11.3% Lease Income, 11.5% Insurance, 10.0% Mortgage B
Slide 12: Greater D.C. is Top U.S. Market
12 Greater D.C. is Top U.S. MarketPro Forma Footprint Combination Adds Meaningful Scale Richmond Raleigh Baltimore CBNK Focus Region ✓ CBNK footprint extends from Raleigh to Delaware with DC at the center ✓ Adds meaningful density across Greater D.C ✓ Broadens PEBO’s Mid-Atlantic commercial banking
Slide 13: Compelling Financial Metrics
13 Compelling Financial Metrics Financially compelling transaction drives significant earnings accretion and top-tier profitability (1) Fully-phased 2027E impacts assume full-year impacts and 100% phased-in cost savings presented for illustrative purposes (2) ‘Fully-loaded’ TBVPS dilution, reflectiv
Slide 14: Pro Forma Performance Relative to Peers
14 Pro Forma Performance Relative to Peers 2.00% 1.79% 1.45% 0.82% Return on Average Assets | ’27 Peer Consensus vs. ’27E Fully-Phased Pro Forma Return on Average Tangible Common Equity | ’27 Peer Consensus vs. ’27E Fully-Phased Pro Forma 20% 20% 15% 7% 15.1x 10.1x 8.5x 7.8x PEBOPro Forma PEBOPro Fo
Slide 15: Transaction Overview
15 Transaction Overview (1) Based on 16,295,949 CBNK shares outstanding, 97,957 restricted stock units and 649,489 options with a weighted average strike price of $26.82; restricted stock units to receive stock consideration, options cashed out (2) Based on PEBO’s 20-day volume-weighted closing pric
Slide 16: Transaction Assumptions
16 Transaction Assumptions Note: “PCD” = purchased credit deteriorated; “CECL” = current expected credit losses; “AOCI” = accumulated other comprehensive income; “CDI” = core deposit intangible ― 30% cost savings of CBNK’s non-interest expense ― 70% phased in during 2027, 100% during 2028 and therea
Slide 17: Comprehensive Due Diligence Highlights
17 Comprehensive Due Diligence Highlights ― Peoples’ seasoned due diligence team leveraged extensive prior experience to complete a thorough review of CBNK ― Focused review of each specialty business, including an extensive assessment of OpenSkyTM ― Management meetings covering each diligence focus
Slide 18: Transformational Combination Positions Peoples for Its Next Phase of Growth
18 Transformational Combination Positions Peoples for Its Next Phase of Growth Combines Capital’s differentiated business lines and strong profitability with Peoples’ broad platform to enhance earnings diversification and profitability Expands Peoples’ presence in attractive markets while adding com
Slide 19: Appendix
Appendix
Slide 20: Pro Forma Loan & Deposit Composition
20 Pro Forma Loan & Deposit Composition Non-interest Bearing 22.0% IB, MMDA & Savings 49.8% Retail CDs 21.8% Jumbo CDs 6.4% Non-interest Bearing 26.6% IB, MMDA & Savings 53.6% Retail CDs 15.6% Jumbo CDs 4.2% Non-interest Bearing 23.4% IB, MMDA & Savings 50.9% Retail CDs 20.0% Jumbo CDs 5.8% 1-4 Fami
Slide 21: Capital Bancorp Stand-Alone Financial Profile
21 Capital Bancorp Stand-Alone Financial Profile Credit Profile Balance Sheet Composition NPAs / Assets 1.07% 1.54% 1.62% 1.56% 1.56% 2025Q2 2025Q3 2025Q4 2026Q1 2026Q2 NCOs / Avg. Loans 0.75% 0.35% 0.32% 0.40% 0.50% 2025Q2 2025Q3 2025Q4 2026Q1 2026Q2 NPLs / Loans 1.32% 1.85% 1.84% 1.83% 1.85% 2025Q
Slide 22: Crossing the $10 Billion Threshold
22 Crossing the $10 Billion Threshold A Decade of Preparation Positions Peoples to Cross $10 Billion with Scale 2026 Implemented cloud-native data warehouse (Snowflake) 2025 Implemented cloud-native commercial loan origination (nCino) and Governance, Risk & Compliance (AuditBoard) systems 2024 Imple
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