First Quarter 2026 Presentation

Investor Presentation

First Quarter 2026 Nasdaq: CARE

Table of Contents

SECTION 01

Overview

Company History

Executed the successful resolution of the Company's largest legacy nonperforming credit relationship on March 26, 2026

-

Further enhanced capital and liquidity levels

-

Reinstated Quarterly Cash Dividend on April 22, 2026

_

66.7% of Loan Production funded at a weighted average rate of 6.42% YTD 2026, with Construction loans of approximately $450M funding over the next 12-18 months.

-

Diversified and Granular Deposit base, approximately 78.2% Retail Customers

$4.8B

Assets

-

$3.7B

Loans

-

$4.2B

Deposits

HQ

Martinsville, Virginia

-

63

Branches

-

10

Corporate Centers

Focused on the future.

A well-capitalized franchise with momentum

1974 Bank established de novo

in 1974 as First National Bank of Rocky Mount, VA

2006 2020

Carter Bank & Trust charter established in 2006 with the merger of ten banks

Carter Bankshares, Inc. holding company established in Q4 2020 with the assets of Carter Bank & Trust

2024

Carter Bankshares, Inc. unveiled a new logo and a refreshed visual brand identity to reflect

our revitalized focus

As of March 31, 2026

5

Regional Footprint

50 Total Branches in Virginia Total VA Deposits $3.7 billion

13 Total Branches in North Carolina Total NC Deposits $0.6 billion

VIRGINIA

Blacksburg

Roanoke

Lynchburg

Fredericksburg

Charlottesville

1 Loan Production Office in South Carolina

Martinsville

Map Key

N. CAROLINA

Winston-Salem

Greensboro

Corporate Headquarters Regional Offices

Branches

Mortgage Loan Offices

S. CAROLINA

Greenville

Charlotte

Raleigh

Leadership Team

Loran Adams

Executive Vice President Director of Regulatory Risk Management

43 years in Industry 9 years at the Bank

Tami Buttrey

Executive Vice President Chief Retail Banking Officer 43 years in Industry

7 years at the Bank

Jane Ann Davis

Executive Vice President Chief Administrative Officer 41 years in Industry

41 years at the Bank

Tony Kallsen

Senior Executive Vice President

Chief Credit Risk Officer 35 years in Industry

8 years at the Bank

Joyce Parker

Executive Assistant 39 years in Industry 35 years at the Bank

Litz Van Dyke

Chief Executive Officer 40 years in Industry

9 years at the Bank

Bradford Langs

President

Chief Strategy Officer 39 years in Industry

8 years at the Bank

Wendy Bell

Senior Executive Vice President Chief Financial Officer

41 years in Industry 8 years at the Bank

Chrystal Parnell

Executive Vice President Chief Marketing & Communications Officer 23 years in Industry

4 years at the Bank

Kimberly Schaufenbuel

Executive Vice President

Chief Human Resources Officer 7 years in Industry

>1 year at the Bank

Matt Speare

Senior Executive Vice President

Chief Operations Officer 23 years in Industry

8 years at the Bank

Rich Spiker

Senior Executive Vice President

Chief Lending Officer 36 years in Industry 7 years at the Bank

Charlie Sword

Senior Vice President Controller

19 years in Industry 4 years at the Bank

7

Nurturing relationships

and rewarding customers, associates, and shareholders.

Rewarding Relationships

Customers

Regulators

Community

Associates

Investors

As of Month XX,

XXXX

As of March 31, 2026

9

Corporate & Social Responsibility

Associates in Northern Virginia participated in the "14th Annual Canstruction" event and were the winners of the 'Best Use of Labels' category for the Celebrating America's 250th Birthday design.

The charity-focused competition benefits the Fredericksburg Regional Food Bank through the donation of canned food. The eleven competing teams donated nearly 10,000 meals for neighbors facing hunger across the Central Rappahannock River Region.

The Charlotte team showed up through service to support Nourish Up, the largest network of food pantries in North Carolina. The Associates spent their time packing food boxes that were distributed to pantries throughout Mecklenburg County that afternoon. Their volunteerism ensured that community members had a stocked local pantry when doors opened the next day.

For the sixth consecutive year, the Bank participated in the Virginia Reads One Book program, through the Virginia Bankers Association. In 2026, the Bank expanded its involvement by sponsoring four elementary schools in our Danville, Martinsville, Roanoke, & Wytheville markets. The program promotes literacy and financial education by having the school community read the same book over a 3-week period. Associates also led financial education classes at each school.

As of March 31, 2026

10

Investment Highlights

Strong Financial Performance

• Strong Liquidity & Capital Position

• CET1 of 13.52%

• ACL coverage of 1.41%

• $1.6B of total available liquidity

• 214.5% total available liquidity / uninsured deposits

  Attractive

  Markets & Customers

  • Well Positioned in Virginia & North Carolina including Fast Growing Markets such as Charlottesville, Charlotte, Greensboro, Roanoke, Raleigh and Winston-Salem.

    Conservative Credit Culture

• Strong Credit Position

• 0.64% NPLs to Total Portfolio Loans

• 0.73% NPAs to Total Portfolio Loans plus OREO

• 219.03% Allowance for Credit Losses to NPLs

• 0.08% Past Due Loans to Total Portfolio Loans

• (1.55)% Net (Recoveries)/Charge-offs to Avg Loans

  Executing Strategic Objectives

  • Investments in Human Capital, Brand & Culture, Technology, Loan & Deposit Diversification, Customer Experience, and Safety & Soundness should provide operational leverage and growth going forward

As of Month XX,

XXXX

As of March 31, 2026

11

Strategic Initiatives

Superior financial performance and operational excellence.

Growing responsibly with financial safety and soundness in mind is an essential practice that enables the Bank to prosper and remain independent. We're known for our ability to provide exceptional service and build long-lasting relationships with customers. We will continue to build upon this differentiation with exceptional experiences, strong relationships, and community impact by investing in ways to improve the customer experience and gain operational efficiencies.

Grow Responsibly - Provide Exceptional Experience - Gain Operational Efficiency

Invest

Enhance

Expand

We will invest in human capital strategies to enhance the associate experience. We will continue to drive efficiency and process improvement across all levels of the organization, leveraging technology and automation. We will make significant investments in the new brand strategy working on updating and enhancing the image and reputation of the Bank.

We will focus on initiatives around enhancing technology, operations, customer experience, C&I, CRA, channel delivery, and product development. From a risk management perspective, we will strengthen change management systems and leverage the Board's ERM Committee.

We will continue strategies to deepen existing relationships and acquire new relationships in current markets. We will focus on increasing market share in target growth markets. We will focus on expanding through organic growth and opportunistic acquisition.

As of Month XX,

XXXX

As of March 31, 2026

12

Loan Sale Transaction Summary

13

Safety & Soundness

13.52%

Common Equity Tier 1 Ratio (CET1)

-

14.78%

Total Risk-based Capital Ratio

-

11.10%

Leverage Ratio

-

$22.78

Book Value

0.08%

Delinquency/Portfolio Loans

-

0.64%

NPL/Portfolio Loans

-

1.41%

ACL/Portfolio Loans

-

(1.55)%

Net Recovery/Portfolio Loans (YTD)

7.13%

ROA (YTD)1

-

80.05%

ROE (YTD)2

-

3.08%

NIM (FTE) (YTD)3

-

72.66%

Adjusted Efficiency Ratio (YTD)3

$1.6B

Total Liquidity Sources

-

12.49%

Highly Liquid Assets/Total Assets

-

82.47%

Highly Liquid Assets/Uninsured Deposits

-

214.52%

Total Available Liquidity/Uninsured Deposits

1 ROA excluding the Loan Sale Transaction = 0.72%3

2 ROE excluding the Loan Sale Transaction = 8.06%3

3 Non-GAAP Financial Measure - see Non-GAAP reconciliation

As of March 31, 2026

14

SECTION 02

Financial

Balance Sheet & Income Statement

1Non-GAAP Financial measure - see Non-GAAP reconciliation

As of March 31, 2026

16

Financial / Shareholder Ratios

1Non-GAAP Financial measure - see Non-GAAP reconciliation

As of March 31, 2026

17

Financial Performance Trends

60.67%

80.95%

76.05%

72.54% 72.66%

2022 2023 2024 2025 1 Q2026 1, 2

2022 2023 2024 2025 1 Q2026

7.1 3%

1 .21 %

0.53%

0.54%

0.66%

0.72%

1 0.52%

8.25%

8.65%

7.82%

7.78%

2022 2023 2024 2025 1 Q2026 3

2022 2023 2024 2025 1 Q2026

1 Adjusted Net Income (non-GAAP)2 and YTD annualized for the three months ended March 31, 2026

2 Non-GAAP Financial Measure - see Non-GAAP reconciliation

3 ROA excluding the Loan Sale Transaction = 0.72%2

As of March 31, 2026

18

Capital Management

Carter Bankshares

Regulatory Well Capitalized

Actual

Excess ($) (In Thousands)

• Focus on maintaining a strong regulatory capital position in excess of regulatory thresholds.

  Common Equity Tier 1 Ratio ("CET 1")		6.50%	13.52%	$ 283,476
  Tier 1 Risk-based Ratio		8.00%	13.52%	222,935
  Total Risk-based Capital Ratio		10.00%	14.78%	192,724
  Leverage Ratio		5.00%	11.10%	300,024
  Critically Undercapitalized Category	Tangible equity to total assets ≤ 2%
  Capital Conservation Buffer	>= 2.5% composed of CET 1

• Ensure capital levels are commensurate with the Company's risk profile and strategic plan objectives.

• On February 2, 2026, the Board authorized a repurchase program to purchase up to

  $10.0 million of the Company's common stock in the aggregate over a period of twelve months beginning February 11, 2026. The Company did not repurchase any shares under this plan during the three months ended March 31, 2026.

  Actual ($) 03/31/26

  Cumulative AOCL Impact 03/31/26

  REGULATORY CAPITAL

  13.52%

  14.78%

  11.10%

  TIER 1

  TOTAL

  LEVERAGE

  Book Value per Common Share $ 22.78 $ (1.94)

  Adjusted Book Value1

  $

  24.72

  
  
  
  
  

  1Non-GAAP Financial measure - see Non-GAAP reconciliation

  As of March 31, 2026

  19
  
  

  Liquidity

  $ in thousands March 31, 2026 December 31, 2025 Change

Continue to maintain a strong liquidity position:

Total Portfolio Loan Growth 3

Multifamily CRE

11%

Owner Occupied CRE 4%

C&I 6%

$3,506

$3,625

$3,880

$3,728

$3,149

11.98%

11.34%

3.39%

7.03%

6.10%

4

YE 2022 YE 2023 YE 2024 YE 2025 Q1 2026

Portfolio Loans Growth

Non-Owner Occupied CRE

42%

Construction 14%

Res Mtgs 22%

Other Consumer 1%

1 Other loans include unique risk attributes considered inconsistent with our current underwriting standards.

2 Total Portfolio Loans is net of loans held-for-sale and Loan Portfolio Segments are sourced from Fed. Call Codes (RC-C).

3 $ in millions

4 Loan growth for the first quarter of 2026 excludes the sale of the large NPL, See non-GAAP reconciliation.

As of March 31, 2026

21

Loan Portfolio Repricing & Index 1Q2026

Loan Portfolio by Rate Type Loan Portfolio by Rate Index Type

Floating 1

$770 3

21 %

$3.7B

Fixed

$1 ,534 3

41 %

Variable2

$1 ,4243

38%

Prime

$1 683

5%

Treasury

$1 ,41 83

38%

SOFR

$608 3

1 6%

$3.7B

Fixed

$1 ,5343

41 %

1Floating Rate Loans are defined as loans with contractual interest rate terms that allow the loan to reprice at least once each month.

2Variable Rate Loans are defined as loans with contractual interest rate terms that allow the loan to reprice at least once during the life of the loan agreement, but not more frequently than once per quarter.

3 $ in millions

As of March 31, 2026

22

Top Ten (10) Relationships (Total Commitment)

For the Periods Ending

$ in thousands

3/31/2026

12/31/2025

Change

% of Gross Loans

% of RBC

Concentration (25% of Risk Based Capital ("RBC"))

$

149,083

$

128,431

1 The table above reflects the removal of the Company's largest nonperforming loan relationship as a result of the first quarter 2026 Transaction, resulting in a meaningful decline in borrower concentration. Prior to the Transaction the top 10 relationships to total gross loans at December 31, 2025 was 17.00%.

As of March 31, 2026

23

Bond Portfolio

U.S. Government

Collateralized Mortgage Obligations

161,160

(6,737)

154,423

168,749

(6,929)

161,820

Asset Backed Securities

100,053

(6,017)

94,036

100,643

(5,846)

94,797

Muni

35%

CMO

23%

SBA 4%

ABS 4%

Corporate 9%

CMBS

14%

MBS

10%

Total Debt Securities

$ 716,862 $ (54,735) $ 662,127

$ 745,366 $ (53,754) $

691,612

Agencies

1%

As of March 31, 2026

24

Agency Securities $ 18,151 $ (404) $ 17,747 $ 19,796 $ (421) $ 19,375

• The bond portfolio is 100% available-for-sale.

  $ in thousands

  March 31, 2026

  Net Unrealized

  Amortized (Losses)/

  Cost Gains Fair Value

  Amortized Cost

  December 31, 2025

  Net Unrealized

  (Losses)/

  Gains Fair Value

• Our portfolio consists of 43.5% of securities issued by United States government sponsored entities and carry an implicit government guarantee.

• States and political subdivisions comprise 35.2% of the portfolio and are largely general obligation or essential purpose revenue bonds, which have performed very well historically over all business cycles, and are rated AA and AAA.

  Residential Mortgage-Backed Securities Commercial Mortgage-Backed Securities	67,764 22,557	(7,417) (165)	60,347 22,392	83,918 25,438	(7,145) (316)	76,773 25,122	rate securities.
  Other Commercial							3.08%
  Mortgage-Backed Securities 24,837 (1,134) 23,703 25,297 (1,043) 24,254

  • At March 31, 2026, the Company held 65.8% fixed rate and 34.2% floating

  • Securities comprise 13.8% of total assets at March 31, 2026.

  • Shorter maturity profile with an average life of 4.76 years; less interest rate risk with an effective duration of 3.65; and higher than peer book yield of

  States and Political Subdivisions	262,090	(28,900)	233,190	262,275	(28,051)	234,224
  Corporate Notes	60,250	(3,961)	56,289	59,250	(4,003)	55,247

  
  
  

  Deposit Composition

  For the Period Ending Variance
  $ in thousands	03/31/2026	12/31/2025	03/31/2025	Quarter	Year
  Lifetime Free Checking	$ 637,933	$ 620,473	$ 631,714	$ 17,460	$ 6,219
  Interest-Bearing Demand	871,398	808,171	794,059	63,227	77,339
  Money Market	514,362	553,964	528,381	(39,602)	(14,019)
  Savings	326,929	326,182	353,394	747	(26,465)
  Certificates of Deposits	1,884,628	1,902,099	1,893,379	(17,471)	(8,751)

  • Total deposits increased $34.3M YoY

  • Diversified and granular deposit base, approximately 79.1% Retail Customers

  • Approximately 82.8% of Deposits, including Collateralized Muni deposits are FDIC Insured

  • Partnership with IntraFi for available coverage over $250K FDIC insured limit

Noninterest-bearing Deposits

YE 2025

Interest-bearing Deposits

$4,153

$4,211

$4,235

DDA Int. Bearing

21%

$3,633

$3,722

MMA

12%

CDs

44%

Savings

8%

YE 2022

YE 2023

YE 2024

Total Deposits Composition 1

DDA Int. Free

15%

Q1 2026

$638

$620

$634

1 Period end balances at, $ in millions

As of March 31, 2026

25

Deposits

Goal is to enhance and diversify funding sources with a focus on lower cost/core relationships (both retail and commercial):

• Deposits currently stand at $4.2B

• CD Portfolio ($1.9B) is relatively short with 78.1% of the portfolio scheduled to mature within 12 months and 94.6% of the portfolio scheduled to mature within 24 months, allowing for opportunities to lower deposit costs quickly when short term rates begin to ease

• Multiple strategies are in place to grow all non maturity deposit accounts with a focus on lower cost of funds

• Established product road map and working to expand deposit offerings for retail and commercial customers

As of Month XX,

XXXX

Deposit Mix - 12/31/2017

Deposit Mix - 03/31/2026

Deposit Mix - Target

DDA - Int. Free

14%

DDA - Int.

Bearing

7%

DDA - Int. Free

15%

DDA - Int. Bearing

21%

DDA - Int. Free

25%

DDA - Int.

Bearing

20%

MMA 3%

MMA 15%

CDs

56%

MMA

12%

Savings

20%

CDs

44%

Savings

8%

CDs

30%

Savings

10%

As of March 31, 2026

26

Past Present Future

SECTION 03

Asset Quality

Asset Quality

$45

$40

$35

$30

$25

$20

$1 5

NPLs and "Other" NPL / Total Portfolio Loans

97.54% 97.1 6% 87.72%

$30

5

1

$24

2

1 00%

80%

60%

40%

$3,1 49

3,142

Nonperforming Loans / Total Portfolio Loans

$3,625

$3,880 $3,752

259

7.15%

3,366

$3,506

8.83%

6.29%

3,196

3,636

3,728

$1 0

0.21%

$5

$7 $8

4 3

$7 24

5

22 20%

244

310

1

1 4 1

0.64%

24

$0 2 1 - %

YE 2022 YE 2023 YE 2024 YE 2025 1 Q 2026

CRE C&I Res Mort Other Consumer Construction "Other" NPL/Total Portfolio Loans

YE 2022 YE 2023 YE 2024 YE 2025 Q1 2026

Nonperforming Loans Performing Loans Nonperforming Loans/ Total Portfolio Loans

$45

$40

$35

$30

$25

$20

$1 5

0.15%

0.13%

5

$1 0 $7 $8

Percent of NPLs to Nonperforming Assets

96.8% 96.9%

87.7%

$30

$8 $7

$24

1 00%

80%

60%

40%

20%

Delinquency / Portfolio Loans

$3,506

$3,625

$3,880

$3,728

$3,149

0.17%

5

6

0.08%

3

0.08%

3

$5 $2 $1 $- $3

$- - %

YE 2022 YE 2023 YE 2024 YE 2025 1 Q 2026

NPLs Excluding "Other" OREO Large NPL "Other" Segment to Total NPAs

YE 2022 YE 2023 YE 2024 YE 2025 Q1 2026

Delinquency Portfolio Loans Delinquency / Portfolio Loans

$ in millions

As of March 31, 2026

28

Delinquency Trends

0.08%

0.1 6%

$4,837

0.07%

- %

0.1 3%

- %

0.08%

0.08%

$3,1 66

$3,236

$4,828

0.1 3%

0.1 5%

0.1 7%

$6,032

0.20%

Past Due Loans / Total Portfolio Loans

$6,000

0.1 5%

$4,000

0.1 0%

$2,000

0.05%

- % $-

YE 2022 YE 2023 YE 2024 YE 2025 Q1 2026

30-59 Days PD 60-89 Days PD Total PD Amt

$'s in thousands

As of March 31, 2026

29

Delinquency Trends

$3,1 66

0.1 %

March 31, 2026

$23,971 0.6%

$3,701 ,324

99.3%

30-89 Days Past Due NPL Current

As of March 31, 2026

30

Nonperforming Relationships

Nonaccrual Balance

$ in thousands

3/31/2026

12/31/2025

Change

Comments

1 Reflects the removal of the Company's largest nonperforming loan relationship as a result of the first quarter 2026 Transaction, resulting in a meaningful decline in nonaccrual loans.

As of March 31, 2026

31

Loan Portfolio - Risk Ratings

$4,000

Portfolio Credit Quality Trend

$3,880

4

12 $3,728 1

$480

Portfolio Credit Quality Trend

$3,500

$3,000

$3,61 7

$3,1 49

$2,992

15

$3,625

$3,506

$3,351

$3,1 92

7

43

$31 4

$274

$7

$263

$1 57

$44

$1

$251 86.7%

$267 94.3%

97.5%

$31 0 1

$4

$3,684

$360

$2,500

$2,000

$240

95.0%

91.1%

92.4%

93.2%

98.8%

$1 ,500

$1 ,000

$1 20

$500

$-

YE 2022 YE 2023 YE 2024 YE 2025 Q1 2026

Pass Substandard Special Mention % of Pass to Total

$-

YE 2022 YE 2023 YE 2024 YE 2025 Q1 2026

Substandard Special Mention % of "Other " to Substandard

1 The Company placed $301.9 million of commercial loans in the Other segment of the Company's loan portfolio, relating to the Bank's largest lending relationship during the second quarter of 2023, which was resolved and sold on March 26, 2026.

$ in millions

As of March 31, 2026

32

Net Charge-offs & Provision Expense

ACL Composition & ACL Coverage Ratio

$ in thousands

$20,000

$1 5,000

$1 0,000

$5,000

$-

$(5,000)

Net (Recoveries) / Charge-offs & Provision Expense

$ in thousands

0.1 5%

2

0.07%

$5,500

$2,300

$1 6,41 3

0.01 %

$4,506

$2,41 9

$472

$(5,039)

$(3,637)

2

$(1 4,9293)

3

$(33,91 7)

(1 .55)%

0.46%

$93,852

$97,052

$75,600

$71 ,491

$52,503

$42,738

$44,895

2.09%

1 .41 %

$51 ,482

$1 ,021

$51 ,534

1 .84%

$30,705

$93,1 83

$669

2.98%

2.77%

$54,31 41

$(1 0,000)

$(1 5,000)

$(20,000)

$(25,000)

YE 2022 YE 2023 YE 2024 YE 2025 Q1 2026

General Reserves Individually Evaluated Loan Reserves ACL to Total Portfolio Loans

$(30,000)

$(35,000)

YE 2022 YE 2023 YE 2024 YE 2025 Q1 2026

Net Charge-offs Provision Expense Net Charge-offs / Average Loans

1 The individually evaluated loans increased $53.6 million during the second quarter of 2023 due to our largest lending relationship, that was previously reserved in general reserves within the Other segment, moved to nonperforming status and is currently individually evaluated.

2 YTD Net charge-offs for YE 2024 consist of a $15.0 million principal charge-off related to the Other segment of the loan portfolio. The full $15.0 million has been recovered during the first quarter of 2026.

3 The change in provision relates to the $15.0 million recovery and the $18.0 million reserve release as a result of the resolution of the Bank's largest nonperforming loan relationship.

As of March 31, 2026

33

SECTION 04

Deposit Mix

Deposits

$4,500

$4,000

Total Deposit Composition1

$3,633

$3,722

$638

$621

$634

$685

$706

$2,927

$3,037

$3,51 9

$3,597

$3,590

$4,1 53 $4,211 $4,235

Insured/Uninsured Deposits

$3,500

$3,000

$2,500

$3,389.2 80.0%

$726.9 1 7.2%

$2,000

$1 ,500

$11 9.2

2.8%

$1 ,000

$500

$-

YE 2022 YE 2023 YE 2024 YE 2025 Q1 2026

Noninterest-bearing deposits Interest-bearing deposits

Uninsured Deposits Collateralized Muni 2

Insured Deposits

1 Period end balances, $ in millions

2Collateralized Muni deposits are FDIC insured up to $250,000. All balances in excess of $250,000 are fully collateralized with eligible securities

As of March 31, 2026

35

Net Interest Income

3.51 %

Net Interest Income & NIM

6.00%

4.01 %

4.60%

5.07%

3.08%

5.01 %

2.83%

4.99%

2.87%

2.58%

5.50%

5.00%

4.50%

4.00%

5.07%

3.50%

4.01 %

$4,024

Avg. Earning Assets & Yield

2.25%

633

630

628

628

621

2.06%

3,61 0

3,602

2.1 6%

3,605

$4,1 65

3,575

2.30%

3,544

2.44%

$4,243

$4,232

$4,233

$4,203

4.99%

5.01 %

$4,294 $4,459

4.60%

$4,645 $4,748

YE 2022 YE 2023 YE 2024 YE 2025 Q1 2026

YE 2022 YE 2023 YE 2024 YE 2025 Q1 2026

Total Cost of Funds Yield on Interest-earning Assets Net Interest Margin 3

Avg. Earning Assets Yield on Earning Assets

$4,500

$4,000

$3,500

$3,000

$2,500

$2,000

$1 ,500

$1 ,000

$500

$-

Total Deposits and Cost of Deposits 1

0.67%

$3,044

Avg. Interest-Bearing Liabilities & Costs

2.49%

2.74%

$3,509 $3,704 $3,781

3.06%

$3,321

2.23%

Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026

Noninterest-bearing Deposits Interest-bearing Demand Deposits Total Cost of Deposits 2

YE 2022 YE 2023 YE 2024 YE 2025 Q1 2026

Avg. Interest-Bearing Liabilities Cost

1 Average balances, $ in millions

2 Cost of Funds incorporates the free funds contribution with the rate on total interest-bearing liabilities to illustrate the impact of noninterest-bearing liabilities on the overall cost of funds.

3 Computed on a fully taxable equivalent basis (FTE) using 21% federal income tax statutory rate for 2022 through 2026.

As of March 31, 2026

36

SECTION 05

Commercial Loans

CRE Segment Overview

Total CRE: $2,682.7

1

2

1 Other CRE & Other Commercial Segments include, but are not limited to, Special / Limited Use, Church, Mobile Home Park, Gas Station, Self-Storage Facilities & Auto Shops

2 Includes restaurant loans of $35.2 million

As of March 31, 2026

38

Hospitality Metrics

4.54

RISK RATING

AVERAGE

55.6%

LTV

$108K

DEBT/KEY

*Relates to the Company's largest lending relationship.

1Commitment Level

As of March 31, 2026

39

Hospitality Metrics

As of March 31, 2026

40

$ in thousands