Commercial Bancgroup, Inc. · NASDAQ:CBK
Commercial Bancgroup — Q4 2025 Earnings Presentation
24 slides from Commercial Bancgroup's earnings presentation, Jan 26, 2026
Slide 1: 4Q25 Earnings Presentation
4Q25 Earnings Presentation January 26 , 2026 COMMERCIAL BANCGROUP, INC.
Slide 2: Important Notices and Disclaimers
2 Important Notices and Disclaimers Use of Defined Terms As used in this presentation, the terms “Company,” “Commercial,” “we,” “our,” and “us” refer to Commercial Bancgroup, Inc., a Te nnessee corporation. The term “Bank” refers to Commercial Bank, the Company’s wholly owned bank subsidiary. Forwar
Slide 3: Important Notices and Disclaimers
3 Important Notices and Disclaimers (21) changes in technology or products that may be more difficult or costly or less effective than anticipated; (22) the risk s o f acquisitions and other expansionary activities, including without limitation our ability to identify and consummate transactions wit
Slide 4: Important Notices and Disclaimers
4 Important Notices and Disclaimers Industry Information Certain industry and market data and forecasts, and other information, contained in this presentation has been prepared based , i n part, upon data, forecasts, and other information that we obtained from regulatory sources, periodic industry p
Slide 5: Company Overview
5 Company Overview Headquarters: Harrogate, TN Branches 2 : 34 Total Assets: $2.3 Billion Total Loans: $1.9 Billion Total Deposits: $1.8 Billion 1 Non - GAAP financial measure. See Appendix for a reconciliation of non - GAAP financial measures. 2 Includes the banking facility located in our principa
Slide 6: Investment Merits
6 Investment Merits Competitive Strengths Experienced and invested leadership team with meaningful ownership Successfully completed five whole - bank acquisitions since 2008 with a focus on balance sheet and customer retention Diversified, commercially focused loan portfolio well - positioned in att
Slide 7: Executive Management Team
7 Executive Management Team ■ Our executive management team has over 100 years of collective experience in the banking industry and has managed through multiple operating cycles Terry L. Lee President, Chief Executive Officer, and Director Terry L. Lee has 36 years of experience in the banking indus
Slide 8: Business Evolution, Timeline Milestones
8 Business Evolution, Timeline Milestones Source: Company documents Early History History of Deposit - Focused Acquisitions, De Novo Expansion Organic Growth Positioning for Growth The Bank was founded as Commercial Bank of Claiborne County by E. Oscar Robertson on June 9, 1976 1976 1979 The Bank op
Slide 9: Strategic Operational Vision
9 Strategic Operational Vision We will maintain our focus on strong, profitable, organic growth in our core markets, as we focus on acquisition opportunities in Tennessee, North Carolina, South Carolina and North Georgia Responsible Growth Acquisition strategy: ■ Community bank consolidator providin
Slide 10: Driving Shareholder Value is Our Top Priority
$1.08 $1.58 $2.08 $2.54 $2.75 $2.96 2020 2021 2022 2023 2024 2025 10 Driving Shareholder Value is Our Top Priority Tangible Book Value Per Share Core Earnings Per Share Core Efficiency Ratio 1 Core ROATCE 1 Core ROAA 1 Reported PPNI ($M) 1 $19.1 $25.7 $33.1 $43.0 $42.4 $47.9 2020 2021 2022 2023 2024
Slide 11: Key Markets Overview/Dynamics
$89.9 $94.4 $79.2 $63.7 $68.3 $85.7 Charlotte MSA Nashville MSA Knoxville MSA Kingsport- Bristol MSA Johnson City MSA National Average Projected Population Change (2025 – 2030) 1 11 Key Markets Overview/Dynamics ■ A premier financial and economic hub within the Southeastern U.S. with an estimated po
Slide 12: Proven M&A Strategy / Seven Historical Acquisitions
12 Proven MA Strategy / Seven Historical Acquisitions 1986 2001 2008 2016 2018 2020 2023 2024 Purchased Union County Bank from the FDIC Maynardville, TN Acquired Middlesboro Federal Bank Middlesboro, KY Branches: 3 Assets: $126M Loans: $100M Deposits: $108M Acquired The Union National Bank and Trust
Slide 13: Consistent Balance Sheet Growth
; 13 Consistent Balance Sheet Growth Total Net Loans ($M) Total Assets ($M) Total Equity ($M) Total Deposits ($M) Source: Company documents
Slide 14: Consolidated Capital Ratios
9.0% 8.1% 9.1% 12.0% 11.5% 10.2% 11.1% 15.0% 12.8% 11.4% 12.4% 16.0% 2022 2023 2024 2025 TCE Ratio CET1 Ratio Total Risk-based Capital 14 Consolidated Capital Ratios Capital Ratios (%) Capital Position Simple Capital Structure RPPRQ(TXLW\7LHU 7UXVW3UHIHUUHG 7LHU $/ 1 Non - GAAP financial measure. Se
Slide 15: Core Deposit Rich Franchise
3XEOLF RQVXPHU RPPHUFLDO $626 $725 $758 $922 $976 $914 $491 $509 $488 $659 $693 $751 $1,117 $1,234 $1,245 $1,581 $1,669 $1,665 2020 2021 2022 2023 2024 2025 Other Core Deposits Demand Deposits 46.4% 50.0% 53.3% 50.7% 50.4% 50.3% 1.02% 0.54% 0.47% 1.99% 2.79% 2.56% 2020 2021 2022 2023 2024 2025 Deman
Slide 16: Loan Portfolio Detail
5HWDLO 5HQWDO 2IÞFH :DUHKRXVH ,QGXVWULDO RQVWUXFWLRQDQG /DQG 6HOI6WRUDJH 0RELOH+RPH 3DUN +RVSLWDOLW\ $OO2WKHU5( , 2ZQHU2FFXSLHG5( 1RQ RZQHU2FFXSLHG5( Commercial Real Estate 59% Construction Land Development 10% Residential 20% Other Real Estate 1% Commercial 9% Consumer 1% Other Loans <1% 16 Loan Po
Slide 17: Loan Portfolio Detail (cont'd)
'XHLQ2QH <HDURU/HVV 'XHDIWHU2QH<HDU 7KURXJK)LYH<HDUV 'XHDIWHU)LYH <HDUV )L[HG5DWH $GMXVWDEOH 5DWH 17 Loan Portfolio Detail (cont’d) Loans by Geography As of December 31, 2025 CI and Owner - occupied CRE by Industry ($M) As of December 31,2025 Loan Maturity Schedule As of December 31, 2025 Fixed vs.
Slide 18: Asset Quality
$23,839 $7,095 $5,722 $6,276 $5,893 $6,498 1.48% 0.41% 0.33% 0.29% 0.26% 0.28% 2020 2021 2022 2023 2024 2025 18 Asset Quality Loan Loss Reserve / NPAs (%) Criticized and Classified Loans / Loans (%) Net Charge - offs (Recoveries) / Average Loans (%) NPAs and 90 Days Past Due / Assets (%) $173 $113 (
Slide 19: Loans by Credit Quality Indicators
Pass 99.1% Special Mention 0.56% Substandard 0.34% Pass 100.0% Pass 99.4% Special Mention 0.14% Substandard 0.51% Pass 99.5% Special Mention 0.46% Substandard 0.08% Pass 100.0% Pass 98.3% Special Mention 0.22% Substandard 1.5% Pass 99.6% Special Mention 0.04% Substandard 0.34% Pass 99.2% Special Men
Slide 20: Highly Liquid Investment Portfolio
Is this what you were thinking? 8QUHDOL]HG*DLQV /RVVHV RQ$)63RUWIROLR RI7RWDO(TXLW\ 'XHLQ2QH <HDURU/HVV f 'XHDIWHU2QH<HDU WKURXJK)LYH<HDUV 'XHDIWHU)LYH<HDUVWKURXJK 7HQ<HDUV f 'XHDIWHU7HQ f 0RUWJDJH %DFNHG 6HFXULWLHV 8 6 *RYW )HGHUDO$JHQF\ 8 6 *RYW 6SRQVRUHG (QWHUSULVHV *6(V 0RUWJDJH %DFNHG *6( 5HVLG
Slide 21: Investment Highlights
21 Investment Highlights 1 Investment Highlights History of robust organic growth and proven top tier financial performance Experienced management team with vested ownership Best - in - class shareholder returns with a focus on EPS and TBVPS growth Balanced franchise with a combination of high growt
Slide 22: Appendix
ee Appendix
Slide 23: Non-GAAP Financial Measures Reconciliations
23 Non - GAAP Financial Measures Reconciliations Source: Company documents
Slide 24: Non-GAAP Financial Measures Reconciliations
24 Non - GAAP Financial Measures Reconciliations Source: Company documents