CBNK Reports 4Q EPS of $0.91; 4Q ROA of 1.71% and ROE of 15.23%; FY 2025: Record Earnings, Double-Digit Balance Sheet Growth and a 1.71% ROA

Fourth Quarter 2025 Highlights

GAAP Net Income of $15.0 million was flat compared to 3Q 2025. Earnings per share of $0.91 increased $0.02 per share, compared to 3Q 2025 and return on average assets ("ROA") of 1.71% decreased 6 basis points compared to 3Q 2025

Core net income(1) of $15.0 million, or $0.91 per share increased $0.19 per share compared to 3Q 2025 and Core ROA(1) of 1.71% increased 28 basis points compared to 3Q 2025Book value per common share of $24.54 at December 31, 2025, increased $0.74 compared to 3Q 2025, and increased $3.23 when compared to 4Q 2024

Tangible book value per share(1) of $22.05, increased 3.4% (not annualized), or $0.72 as compared to 3Q 2025, and increased 15.5%, or $2.96 compared to 4Q 2024Return on average equity ("ROE") of 15.23% decreased 34 basis points compared to 3Q 2025, and return on average tangible common equity ("ROTCE")(1) of 17.23% decreased 26 basis points compared to 3Q 2025

Core ROE(1) of 15.23% increased 267 basis points compared to 3Q 2025 and Core ROTCE(1) of 17.23% increased 308 basis points compared to 3Q 2025Gross Loans(2) grew $137.5 million, or 19.3% (annualized), during 4Q 2025, and grew $329.3 million, or 12.5% from 4Q 2024Total deposits grew $180.9 million, or 24.6% (annualized), from 3Q 2025 and grew $331.0 million, or 12.0% from 4Q 2024

Customer Deposit3 growth of $41.8 million, or 6.2% (annualized) from 3Q 2025, and $287.4 million, or 11.8% from 4Q 2024Net interest income decreased $1.7 million, or 3.3% (not annualized) from 3Q 2025, mainly due to the $4.6 million of accretion during 3Q 2025 from refinancing callable brokered time deposits acquired in the IFH transaction, and increased $6.0 million, or 13.4% from 4Q 2024, primarily driven by growth from the Commercial Bank.Net Interest Margin ("NIM") of 5.94% decreased 42 bps compared to 3Q 2025 and increased 7 bps compared to 4Q 2024

Commercial Bank NIM(1) of 4.18% decreased by 46 bps (but increased 21 bps when excluding purchase accounting accretion ("PAA")), compared to 3Q 2025, and increased 19 bps, compared to 4Q 20244Q 2025 net PAA of $0.2 million, or 3 bps of NIM and 3 bps of Commercial Bank NIM(1), decreased $5.3 million, or 61 bps, compared to 3Q 2025.The allowance for credit losses to total loans ("ACL Coverage Ratio") equaled 1.85% at December 31, 2025, which represented a 3 bps decrease from September 30, 2025, and remained flat year-over-year.

The Commercial Bank ACL Coverage Ratio(1) equaled 1.65% at December 31, 2025, which represented a 5 bps decrease from 1.70% at both September 30, 2025 and December 31, 2024Fee Revenue (noninterest income) totaled $12.5 million, or 19.9% of total revenue for 4Q 2025, an increase of $1.4 million from 3Q 2025 primarily due to SBIC income, and increased $0.6 million from 4Q 2024Cash Dividend of $0.12 per share declared by the Board of DirectorsShares repurchased and retired during the three months ended December 31, 2025, as part of the Company's stock repurchase program, totaled 304,288 shares at an average price of $28.12, for a total cost of $8.6 million

(1) As used in this press release, Core net income, Core ROA, Core ROE, ROTCE, Core ROTCE, Commercial Bank NIM, Commercial Bank ACL Coverage Ratio, and Tangible Book Value are non–U.S. generally accepted accounting principles ("GAAP") financial measures. These non-GAAP financial metrics excludes the impact of income from the call of brokered time deposits, merger-related expenses and other pre-tax adjustments which are not indicative of operating performance and tax impacts of such adjustments. Reconciliations of these and other non–GAAP measures to their comparable GAAP measures are set forth in the Appendix at the end of this press release.
(2) Gross loans represent portfolio loans receivable, net of deferred fees and costs.
(3) Customer Deposits represents total deposits excluding brokered deposits.

ROCKVILLE, Md., Jan. 26, 2026 (GLOBE NEWSWIRE) -- Capital Bancorp, Inc. (the "Company") (NASDAQ: CBNK), the holding company for Capital Bank, N.A. (the "Bank"), today reported net income of $15.0 million, or $0.91 per diluted share, for 4Q 2025, compared to net income of $15.1 million, or $0.89 per diluted share, for 3Q 2025, and $7.5 million, or $0.45 per diluted share, for 4Q 2024. Core net income(1) for 4Q 2025 of $15.0 million, or $0.91 per diluted share, compared to $12.2 million, or $0.72 per diluted share in 3Q 2025, and $15.5 million, or $0.92 per diluted share, for 4Q 2024.

The Company also declared a cash dividend on its common stock of $0.12 per share. The dividend is payable on February 28, 2026 to shareholders of record on February 9, 2026.

“Our diversified business model continues to be a source of consistency and strength enabling us to perform at a high level in different market conditions," said Ed Barry, CEO of the Company. With the IFH integration behind us, our focus on executing our strategic plan remains our top priority. Our growth levers offer us a wide range of options on which we are capitalizing."

“We continue to demonstrate our ability to deliver meaningful growth in tangible book value per share and loans outstanding, and we are pleased that net interest margin has proven durable,” said Steven J Schwartz, Chairman of the Company. “Our ongoing and planned investments in technology and human capital give me confidence that we are well-positioned to carry forward our strategy for profitable organic growth and to capitalize on opportunities that may arise for bolt-on and other acquisitions. Further, I expect our ongoing, opportunistic stock buyback program will, over time, prove to have been a wise use of our capital.”

Reconciliation of GAAP Net Income to Core (Non-GAAP) Net Income

The following table provides a reconciliation of the Company's net income under GAAP to core net income (non-GAAP) results excluding income from the call of brokered time deposits, merger-related expenses and other one-time non-recurring transactions.

Fourth Quarter 2025 Third Quarter 2025(in thousands, except per share data)Income Before Income Taxes Income Tax Expense Net Income Diluted Earnings per Share Income Before Income Taxes Income Tax Expense (Benefit) Net Income Diluted Earnings per ShareGAAP Net Income$19,681 $4,644 $15,037 $0.91 $19,867 $4,802 $15,065 $0.89Deduct: Income from the Call of Brokered Time Deposits — — — (4,618) (1,129) (3,489) Add: Merger-Related Expenses — — — 697 122 575 Core Net Income(1)$19,681 $4,644 $15,037 $0.91 $15,946 $3,795 $12,151 $0.72

Year Ended December 31, 2025 Year Ended December 31, 2024(in thousands except per share data)Income Before Income Taxes Income Tax Expense (Benefit) Net Income Diluted Earnings per Share Income Before Income Taxes Income Tax Expense (Benefit) Net Income Diluted Earnings per ShareGAAP Net Income$74,944 $17,774 $57,170 $3.41 $41,832 $10,860 $30,972 $2.12Deduct: Income from the Call of Brokered Time Deposits (4,618) (1,129) (3,489) — — — Add: Merger-Related Expenses 3,361 752 2,609 3,930 622 3,308 Add: Non-recurring Equity and Debt Investment Write-Down — — — 2,620 — 2,620 Add: Initial IFH ACL Provision — — — 4,194 1,025 3,169 Core Net Income(1)$73,687 $17,397 $56,290 $3.36 $52,576 $12,507 $40,069 $2.74

[1] As used in this press release, Core net income is a non-GAAP financial measure. This non-GAAP financial metric excludes the impact of income from the call of brokered time deposits, merger-related expenses and other certain pre-tax adjustments which are not indicative of operating performance and tax impacts of such adjustments. Reconciliations of this and other non–GAAP measures to their comparable GAAP measures are set forth in the Appendix at the end of this press release.

Note: The income tax expense reflects the non-deductibility of certain merger-related expenses.

Fourth Quarter 2025 Results

Earnings Summary

Net income of $15.0 million was flat compared to 3Q 2025, and earnings per share of $0.91 increased $0.02 per share from 3Q 2025. Net income increased $7.5 million, or 99.6%, from $7.5 million, or $0.45 per diluted share, for 4Q 2024. 4Q 2025 core net income(1) of $15.0 million, or $0.91 per diluted share, increased $2.9 million, or 18.1%, from 3Q 2025 core net income of $12.2 million, or $0.72 per diluted share. 4Q 2025 core net income decreased $0.4 million, or 2.8%, from 4Q 2024 core net income of $15.5 million, or $0.92 per diluted share.

[1] As used in this press release, Core net income is a non-GAAP financial measure. This non-GAAP financial metric excludes the impact of income from the call of brokered time deposits, merger-related expenses and other certain pre-tax adjustments which are not indicative of operating performance and tax impacts of such adjustments. Reconciliations of this and other non–GAAP measures to their comparable GAAP measures are set forth in the Appendix at the end of this press release.

Net interest income of $50.3 million decreased $1.7 million, or 3.3% (not annualized), compared to 3Q 2025, and increased $6.0 million, or 13.4%, year-over-year.

During 3Q 2025 there were two non-recurring events that impacted net interest income.

The Bank identified Fee Revenue that was also previously recognized as Interest Income in the first and second quarter. As a result, the Bank recorded a one-time adjustment of $1.3 million of interest income ("Interest Income Adjustment"). There was no corresponding adjustment needed to Fee Revenue as the fee income was correctly recognized during those periods.Also, the Bank issued a call of brokered time deposits acquired from the IFH transaction, resulting in the accelerated accretion of $4.6 million ("Call of Brokered Time Deposits").When excluding the Call of Brokered Time Deposits and Interest Income Adjustment in 3Q 2025, net interest income increased $1.6 million, or 3.2%, from 3Q 2025.Interest income of $68.6 million increased $3.7 million, or 5.8% (not annualized), over 3Q 2025, and increased $6.9 million, or 11.2%, year-over-year. When excluding the Interest Income Adjustment, interest income increased $2.4 million from 3Q 2025, driven by $0.8 million of growth from OpenSky™ and $1.6 million from the Commercial Bank, while the increase year-over-year was primarily driven by strong balance sheet growth and higher net PAA.

Interest income included $0.1 million from net PAA in 4Q 2025, compared to $0.2 million in 3Q 2025 and $0.7 million in net PAA in 4Q 2024.Interest expense of $18.4 million increased $5.5 million, or 42.6% (not annualized), compared to 3Q 2025, and increased $1.0 million, or 5.6%, year-over-year. When excluding the Call of Brokered Time Deposits, interest expense increased $0.9 million, or 5.1%, compared to 3Q 2025, primarily driven by $0.5 million lower PAA and a $0.4 million increase from borrowings costs. The increase of $1.0 million year-over-year was primarily driven by $1.3 million of lower PAA offset by a $0.3 million shift in portfolio mix.

Interest expense included a $0.2 million benefit from net PAA in 4Q 2025, compared to a $5.3 million benefit in 3Q 2025, which included $4.6 million from the Call of Brokered Time Deposits. There was $1.4 million from net PAA in 4Q 2024.The 4Q 2025 provision for credit losses was $4.0 million, a decrease of $0.7 million from 3Q 2025. During the quarter, a $2.0 million credit to the allowance for credit losses was made to reflect recoveries resulting from the sale of $69.5 million charged-off OpenSky™ credit card receivables. Net charge-offs totaled $2.4 million, or 0.32% of portfolio loans (annualized), down from $2.5 million or 0.35% of portfolio loans (annualized), in 3Q 2025. Net charge-offs in the quarter include $1.9 million from the Commercial Bank and $0.5 million from OpenSky™ loans. Net charge-offs for the Commercial Bank increased $1.6 million from 3Q 2025 primarily driven by legacy Commercial Bank loans not previously provided for, and OpenSky™ net-charge-offs decreased $1.7 million from 3Q 2025 primarily driven by the sale of OpenSky™ credit card debt.

At December 31, 2025, the ACL Coverage Ratio was 1.85%, down 3 bps from September 30, 2025, and flat year-over-year.Fee Revenue of $12.5 million increased $1.4 million, compared to 3Q 2025 and increased $0.6 million year-over-year. During 4Q 2025, Core fee revenue(1) of $12.5 million increased $1.4 million as a result of a $1.2 million higher SBIC investment income and a $0.3 million increase in credit card fees from OpenSky™, offset by a $0.1 million decrease in loan servicing rights income. Year-over-year core fee revenue(1) decreased $2.1 million primarily due to a decrease in government lending revenue of $2.3 million offset by a $0.1 million increase from mortgage banking revenue and an increase of $0.1 million from service charges on deposits. Core fee revenue mix was 19.9% of total revenue for 4Q 2025, compared to 17.5% during 3Q 2025, and 24.7% during 4Q 2024.Noninterest expense of $39.1 million increased $0.7 million compared to 3Q 2025 and increased $1.6 million compared to 4Q 2024. Core noninterest expense(1) of $39.1 million increased $1.4 million compared to 3Q 2025 and increased $4.2 million compared to 4Q 2024. Core comparisons include:

The increase of $1.4 million quarter-over-quarter was primarily driven by professional fees including costs for investment in OpenSky™ initiatives and other investments in technology, offset by decreases from OpenSky™ marketing, occupancy & equipment from leases and software contracts, and data processing from Windsor™ and OpenSky™.Year-over-year expense growth of $4.2 million was driven by professional fees associated with investments in shared services areas, personnel expense due to headcount growth, marketing expense from OpenSky™, and regulatory fees driven by the acquisition of IFH.Income tax expense of $4.6 million, or 23.6% of pre-tax income for 4Q 2025, decreased $0.2 million from $4.8 million, or 24.2% of pre-tax income for 3Q 2025. The effective income tax rate change quarter-over-quarter was primarily due to the $1.1 million utilization of a deferred tax asset related to the Call of Brokered Time Deposits during 3Q 2025.

The Core effective income tax rate(1) for 4Q 2025 and 3Q 2025 would have been 23.6% and 23.8%, respectively.

[1] As used in this press release, Core fee revenue, Core noninterest expense, and Core effective income tax rate are non-GAAP financial measures. These non-GAAP financial metrics exclude the impact of income from the call of brokered time deposits, merger-related expenses and other certain pre-tax adjustments which are not indicative of operating performance and tax impacts of such adjustments. Reconciliations of these and other non–GAAP measures to their comparable GAAP measures are set forth in the Appendix at the end of this press release.

Balance Sheet

Total assets of $3.6 billion at December 31, 2025 increased $216.8 million from September 30, 2025. Total assets growth year-over-year was $399.3 million, or 12.5%.

Gross Loans of $2.96 billion at December 31, 2025 increased $137.5 million, or 19.3% (annualized), from September 30, 2025 and increased $329.3 million, or 12.5%, year-over-year.

Compared to September 30, 2025, growth was primarily driven by $79.1 million from commercial and industrial ("C&I"), $25.7 million from residential real estate, $15.3 million from construction real estate, $9.5 million from lender finance, and $5.9 million from OpenSky™.Compared to December 31, 2024, growth was primarily driven by $143.7 million from C&I, $77.3 million from residential real estate, $40.5 million from commercial real estate ("CRE"), $38.3 million from construction real estate, $14.6 million from OpenSky™, and $12.8 million from lender finance.C&l loans, plus owner-occupied CRE loans totaled 37.7% of total portfolio loans at December 31, 2025, consistent with the prior quarter, and 37.8% at December 31, 2024.Total deposits of $3.09 billion at December 31, 2025 increased $180.9 million, or 24.6% (annualized), from September 30, 2025, and increased $331.0 million, or 12.0% (annualized) from December 31, 2024.

When excluding the increase in brokered time deposits of $139.1 million, customer deposits increased $41.8 million or 5.7% (annualized), including $116.0 million of growth in customer money market deposits, offset by a decrease of $49.5 million in customer time deposits, an $18.5 million decrease from interest-bearing demand accounts, a $5.0 million decrease from noninterest-bearing deposits, and a $1.2 million decrease from savings accounts.The increase in total deposits of $331.0 million year-over-year was driven by $288.5 million in growth from customer money market deposits, $43.6 million from brokered time deposits, $41.6 million from noninterest-bearing deposits, $18.4 million from interest-bearing demand accounts, offset by a decrease of $59.2 million from customer time deposits, and $1.8 million from savings accounts.

Insured and protected1 deposits were approximately $2.1 billion as of December 31, 2025 representing 68.4% of the Company's deposit portfolio.Low interest and noninterest-bearing DDA deposits of $1.1 billion, or 36.3% of deposits, decreased $24.7 million, or 8.6% (annualized) from 3Q 2025, but increased $58.1 million, or 5.5% year-over-year.

The average rate on the low interest and noninterest-bearing deposits was 0.14% for 4Q 2025, which remained flat compared to 3Q 2025 and year-over-year.

The average portfolio loans-to-deposit ratio was 97.0% for 4Q 2025, compared to 95.6% for 3Q 2025, and 99.3% for 4Q 2024.The investment securities portfolio continues to be classified as available-for-sale and had a fair market value of $230.1 million, or 6.4% of total assets, an effective duration of 2.5 years, with U.S. Treasury Securities representing 60% of the overall investment portfolio at December 31, 2025. The accumulated other comprehensive income (loss) on the investment securities portfolio improved $1.0 million during the quarter to negative $5.8 million after-tax as of December 31, 2025, which represents 1.4% of total stockholders' equity. The Company does not have a held-to-maturity investment securities portfolio.Liquidity – The Company maintains stable and reliable sources of available borrowings, generally consistent with prior quarter. Sources of available borrowings at December 31, 2025 totaled $817.9 million, compared to $858.4 from 3Q 2025. During 4Q 2025, available collateralized lines of credit totaled $731.6 million, unsecured lines of credit with other banks totaled $76.0 million and unpledged investment securities available as collateral for potential additional borrowings totaled $9.3 million.Capital Positions – As of December 31, 2025, the Company reported a Common Equity Tier-1 capital ratio of 12.98%, compared to 13.54% at September 30, 2025. At December 31, 2025, the Company and the Bank maintained regulatory capital ratios that exceed all capital adequacy requirements.

Shares repurchased and retired during the three months ended December 31, 2025, as part of the Company's stock repurchase program, totaled 304,288 shares at an average price of $28.12, for a total cost of $8.6 million. As of December 31, 2025, there was $3.3 million remaining to be repurchased under the current $15.0 million authorization repurchase program, which will expire on February 28, 2026.

[1] Protected deposits includes deposits that are indirectly protected under the product terms.

Financial Metrics

Net Interest Margin – NIM of 5.94% for 4Q 2025, decreased 42 bps compared to the prior quarter, and increased 7 bps year-over-year. Commercial Bank NIM(1) of 4.18% decreased 46 bps (but increased 21 bps when excluding PAA) compared to the prior quarter, and increased 19 bps year-over-year. Net PAA for 4Q 2025 was 3 bps for NIM and 3 bps for Commercial Bank NIM(1).

3Q 2025 includes the previously mentioned $4.6 million Call of Brokered Time Deposits and $1.3 million Interest Income Adjustment. Excluding the Interest Income Adjustment and Call of Brokered Time Deposits in 3Q 2025, Commercial Bank NIM(1) declined to 4.18%, or 3 bps, in 4Q 2025.The average yield on interest earning assets of 8.10% increased 17 bps compared to the prior quarter and decreased 7 bps year-over-year. During 3Q 2025 there was a 16 bps impact from the Interest Income Adjustment. Excluding this item, the average yield in 3Q 2025 would have been 8.09%, which results in a increase of 1 bps compared to 3Q 2025. The decrease quarter-over-quarter was primarily a result of changes in the overall rate environment. The average yield decreased 7 bps year-over-year primarily due to changes in the overall rate environment.

The Commercial Bank Loan Yield(1) of 6.95% for 4Q 2025 increased 21 bps compared to 3Q 2025, and decreased 3 bps year-over-year. Excluding the Interest Income Adjustment impact, the average yield in 3Q 2025 would have been 6.94%, which remained flat compared to 3Q 2025.The total cost of deposits of 2.36% for 4Q 2025 increased 63 bps compared to the prior quarter and decreased 14 bps year-over-year. During 3Q 2025 there was a 63 bps impact from the Call of Brokered Time Deposits. Excluding this item, the cost of deposits for the quarter would have been 2.36%, and 4Q 2025 would have been consistent with 3Q 2025.The total cost of interest-bearing deposits increased 87 bps quarter-over-quarter, and decreased 19 bps year-over-year, to 3.28% for 4Q 2025. Excluding the Call of Brokered Time Deposits, the 3Q 2025 cost of interest-bearing deposits would have been 3.28%, and 4Q 2025 would have been consistent with 3Q 2025. The decrease year-over-year was due to a shift in product mix as well as a change in the rate environment.Net PAA of $0.2 million, or 3 bps of NIM and 3 bps of Commercial Bank NIM(1), during 4Q 2025, decreased $5.3 million from 3Q 2025 mainly due to the Call of Brokered Time Deposits. There was $0.7 million from net PAA during 4Q 2024.NIM for 2025 was 6.10%, a year-over-year decrease of 15 bps from 6.22% for 2024. The decrease was primarily driven by the acquisition of commercial loans from IFH, which diluted the impact from OpenSky™.

Commercial Bank NIM(1) for 2025 was 4.38%, a year-over-year increase of 45 bps from 3.93% for 2024 that was primarily driven by the acquisition of commercial loans from IFH and balance sheet growth from the Commercial Bank during 2025. Excluding the Call of Brokered Time Deposits and Interest Income Adjustment, Commercial Bank NIM(1) for 2025 would have been 4.27%, an increase of 34 bps year-over-year.

Fee Revenue Mix – The fee revenue mix was 19.9% of total revenue for 4Q 2025, compared to 17.5% during 3Q 2025, and 21.2% during 4Q 2024. The core fee revenue mix(1) was 19.9% for 4Q 2025, compared to 17.5% during 3Q 2025, and 24.7% during 4Q 2024.

Credit Metrics and Asset Quality – The ACL Coverage Ratio equaled 1.85% at December 31, 2025, a decrease of 3 bps from September 30, 2025, and remained flat year-over-year.

Nonperforming assets were $58.3 million or 1.62% of total assets at December 31, 2025, an increase of $6.0 million or 7 bps compared to September 30, 2025. The increase in nonperforming assets from 3Q 2025 was primarily driven by $3.9 million from OREO, or 5 bps, and $2.2 million from the acquired IFH portfolio, or 2 bps. Nonperforming assets increased $28.0 million or 67 bps year-over-year, mainly due to the $15.9 million increase during 3Q 2025 from two loan relationships acquired as part of the IFH transaction, described last quarter, $4.4 million from other changes in the acquired IFH portfolio, $3.9 million from OREO, and $3.8 million from the legacy Commercial Bank portfolio. At December 31, 2025, substandard loans totaled $58.5 million, or 2.0% of total portfolio loans, compared to $56.8 million, or 2.0% of total portfolio loans, at September 30, 2025 and $48.4 million, or 1.8% of total portfolio loans, at December 31, 2024. The $10.1 million year-over-year increase in substandard loans was primarily driven by the $15.9 million of loans described above. At December 31, 2025, special mention loans totaled $57.9 million, or 2.0% of total portfolio loans, compared to $71.5 million, or 2.5% of total portfolio loans, at September 30, 2025, and $60.0 million, or 2.3% of total portfolio loans, at December 31, 2024.

Efficiency Ratios – The efficiency ratio was 62.3% for 4Q 2025, compared to 60.8% for 3Q 2025 and 66.7% for 4Q 2024. The core efficiency ratio(1) was 62.3% for 4Q 2025, which decreased from 64.4% compared to the prior quarter, and increased from 59.3% for 4Q 2024.

[1] As used in this press release, Commercial Bank NIM, Commercial Bank Loan Yield, Core fee revenue mix and Core efficiency ratio are non-GAAP financial measures. These non-GAAP financial metrics exclude the impact of income from the call of brokered time deposits, merger-related expenses and other certain pre-tax adjustments which are not indicative of operating performance and tax impacts of such adjustments. Reconciliations of these and other non–GAAP measures to their comparable GAAP measures are set forth in the Appendix at the end of this press release.

Financial Metrics (Continued)

Performance Ratios – ROA was 1.71% for 4Q 2025, compared to 1.77% for 3Q 2025, and 0.96% for 4Q 2024. Core ROA(9) for 4Q 2025 was 1.71%, compared to 1.43% for 3Q 2025, and 1.97% for 4Q 2024.

ROE was 15.23% for 4Q 2025, compared to 15.57% for 3Q 2025, and 8.50% for 4Q 2024. Core ROE(1) was 15.23% for 4Q 2025, compared to 12.56% for 3Q 2025, and 17.46% for 4Q 2024.ROTCE(1) was 17.23% for 4Q 2025, compared to 17.49% for 3Q 2025, and 9.33% for 4Q 2024. Core ROTCE(1) for 4Q 2025 was 17.23%, compared to 14.15% for 3Q 2025, and 18.91% for 4Q 2024.

Book Value and Tangible Book Value – Book value per common share of $24.54 at December 31, 2025, increased $0.74 when compared to September 30, 2025, and increased $3.23 when compared to December 31, 2024. Tangible book value per common share(1) increased $0.72, or 3.4% (not annualized), to $22.05 at December 31, 2025 when compared to September 30, 2025, and increased $2.96, or 15.5%, when compared to December 31, 2024. Tangible book value(1) was impacted by the purchase accounting adjustments required as part of the IFH acquisition. Tangible book value per share(1) was equal to book value per share for periods prior to 4Q 2024.

[1] As used in this press release, Core ROA, Core ROE, ROTCE, Core ROTCE, and Tangible Book Value are non-GAAP financial measures. These non-GAAP financial metrics exclude the impact of income from the call of brokered time deposits, merger-related expenses and other certain pre-tax adjustments which are not indicative of operating performance and tax impacts of such adjustments. Reconciliations of these and other non–GAAP measures to their comparable GAAP measures are set forth in the Appendix at the end of this press release.

Commercial Bank

Loan Growth – Portfolio loans(1) increased $129.6 million at December 31, 2025 compared to September 30, 2025, driven by $79.1 million from C&I, $25.7 million from residential real estate, and $15.3 million from construction real estate. Portfolio loans increased $327.8 million at December 31, 2025 compared to December 31, 2024, driven by $143.7 million from C&I, $77.3 million from residential real estate, and $40.5 million from CRE. Historical gross portfolio loan balances are disclosed in the Composition of Loans table within the Historical Financial Highlights.

Net Interest Income – Interest income of $52.0 million increased $3.0 million from the prior quarter, primarily due to 3Q 2025, due to growth in the Commercial Bank loan portfolio during the quarter. Excluding the $1.3 million Interest Income Adjustment in 3Q 2025, interest income grew by $1.6 million from 3Q 2025. Interest expense of $18.2 million increased $5.5 million, primarily due to 3Q 2025 including a $4.6 million benefit from the Call of Brokered Time Deposits. The remaining $0.9 million increase was due to $0.5 million from lower PAA and $0.4 million from short term borrowings during 4Q 2025.

Credit Metrics – Nonperforming assets increased 8 bps to 1.71% of total assets at December 31, 2025 compared to September 30, 2025. Total nonaccrual loans at December 31, 2025 were $54.4 million, an increase of $2.2 million or 4.0% compared to $52.2 million at September 30, 2025.

Classified and Criticized Loans– At December 31, 2025, special mention loans totaled $57.9 million, or 2.0% of total portfolio loans, compared to $71.5 million, or 2.5% of total portfolio loans, at September 30, 2025. At December 31, 2025, substandard loans totaled $58.5 million, or 2.0% of total portfolio loans, compared to $56.8 million, or 2.0% of total portfolio loans, at September 30, 2025.

(1)Portfolio loans represents portfolio loans receivable excluding deferred origination fees, net.

OpenSky™

Accounts – During 4Q 2025, credit card accounts of 585.5 thousand declined by 2.1 thousand, or 0.4% (not annualized) from September 30, 2025, and increased 32.9 thousand, or 6.0% year-over-year.

Loan and Deposit Balances – Secured and unsecured loan balances, net of reserves for interest and fees, of $142.4 million at December 31, 2025 increased by $5.9 million, or 4.3% (not annualized), compared to September 30, 2025 and $14.6 million, or 11.5%, year-over-year. Deposit balances of $163.2 million for 4Q 2025 decreased $3.7 million compared to 3Q 2025 and decreased $3.2 million, or 1.9% year-over-year. Gross unsecured loan balances of $61.4 million at December 31, 2025 increased $7.7 million, or 14.4% (not annualized), compared to $53.6 million at September 30, 2025, and increased $18.9 million year-over-year. Gross secured loan balances of $83.1 million at December 31, 2025 decreased $1.7 million, or 2.0% (not annualized), compared to $84.7 million at September 30, 2025, and decreased $4.2 million, or 4.8% (not annualized) year-over-year.

Net Interest Income– Interest income of $16.4 million increased $0.7 million compared to 3Q 2025. Average OpenSky™ credit card loan balances, net of reserves and deferred fees of $133.9 million for 4Q 2025, increased $4.8 million, or 3.7% (not annualized), compared to 3Q 2025.

Fee Revenue – Total fee revenue of $4.8 million increased $0.3 million from the prior quarter primarily driven by other credit-card related fees associated with the legacy product.

Noninterest Expense – Total noninterest expense of $14.6 million increased $0.6 million compared to 3Q 2025, driven primarily by professional fees associated with the legacy and unsecured products.

OpenSky™ Credit – Portfolio credit metrics continued to be consistent with modeled expectations during 4Q 2025. The provision for credit losses of $1.3 million decreased $1.5 million when compared to the prior quarter, primarily due to a $2.0 million credit to the allowance for credit losses was made to reflect the debt sale. OpenSky's™ unsecured loan product is offered exclusively to current and former secured card customers. Unsecured loans have been offered by OpenSky™ since the fourth quarter of 2021 and have generally performed in accordance with management expectations over that time period.

Capital Bank Home Loans

Originations of loans held for sale totaled $107.3 million during 4Q 2025, with $83.0 million of mortgage loans sold resulting in a gain on sale of loans of $2.1 million, representing a 2.58% gain on sale as a percentage of total loans sold. Originations of loans held for sale totaled $80.7 million during 3Q 2025, with $66.4 million of mortgage loans sold resulting in a gain on sale of loans of $1.7 million, representing a 2.56% gain on sale as a percentage of total loans sold.

Windsor Advantage™

Gross government loan servicing revenue totaled $5.0 million, including $1.0 million of Capital Bank related servicing fees, during 4Q 2025. Gross government loan servicing revenue totaled $5.3 million, including $1.1 million of Capital Bank related servicing fees, during 3Q 2025. Windsor's™ total servicing portfolio was $3.1 billion at December 31, 2025, and $3.2 billion at September 30, 2025.

COMPARATIVE FINANCIAL HIGHLIGHTS - Unaudited Quarter Ended 4Q25 vs 3Q25 4Q25 vs 4Q24(in thousands, except per share data)December 31, 2025 September 30, 2025 December 31, 2024 $ Change % Change $ Change % ChangeEarnings Summary Interest income$68,634 $64,891 $61,707 $3,743 5.8% $6,927 11.2%Interest expense 18,355 12,871 17,380 5,484 42.6% 975 5.6%Net interest income 50,279 52,020 44,327 (1,741) (3.3)% 5,952 13.4%Provision for credit losses 3,988 4,650 7,828 (662) (14.2)% (3,840) (49.1)%(Release of) provision for credit losses on unfunded commitments (29) 217 122 (246) (113.4)% (151) (123.8)%Noninterest income 12,464 11,068 11,913 1,396 12.6% 551 4.6%Noninterest expense 39,103 38,354 37,514 749 2.0% 1,589 4.2%Income before income taxes 19,681 19,867 10,776 (186) (0.9)% 8,905 82.6%Income tax expense 4,644 4,802 3,243 (158) (3.3)% 1,401 43.2%Net income$15,037 $15,065 $7,533 $(28) (0.2)% $7,504 99.6% Pre-tax pre-provision net revenue ("PPNR") (1)$23,640 $24,734 $18,726 $(1,094) (4.4)% $4,914 26.2%Core PPNR(1)$23,640 $20,813 $23,961 $2,827 13.6% $(321) (1.3)% Common Share Data Earnings per share - Basic$0.91 $0.91 $0.45 $— —% $0.46 102.2%Earnings per share - Diluted$0.91 $0.89 $0.45 $0.02 2.2% $0.46 102.2%Core earnings per share - Diluted(1)$0.91 $0.72 $0.92 $0.19 26.4% $(0.01) (1.1)%Weighted average common shares - Basic 16,493 16,586 16,595 Weighted average common shares - Diluted 16,493 16,844 16,729 Return Ratios Return on average assets (annualized) 1.71% 1.77% 0.96% Core return on average assets (annualized)(1) 1.71% 1.43% 1.97% Return on average equity (annualized) 15.23% 15.57% 8.50% Core return on average equity (annualized)(1) 15.23% 12.56% 17.46% Return on average tangible common equity (annualized)(1) 17.23% 17.49% 9.33% Core return on average tangible common equity (annualized)(1) 17.23% 14.15% 18.91%

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(1) Refer to Appendix for reconciliation of non-GAAP measures.

COMPARATIVE FINANCIAL HIGHLIGHTS - Unaudited (Continued) Year Ended December 31, (in thousands, except per share data) 2025 2024 $ Change % ChangeEarnings Summary Interest income $260,871 $213,301 $47,570 22.3%Interest expense 64,879 58,555 6,324 10.8%Net interest income 195,992 154,746 41,246 26.7%Provision for credit losses 14,965 17,720 (2,755) (15.5)%(Release of) provision for credit losses on unfunded commitments 188 385 (197) (51.2)%Noninterest income 49,187 31,410 17,777 56.6%Noninterest expense 155,082 126,219 28,863 22.9%Income before income taxes 74,944 41,832 33,112 79.2%Income tax expense 17,774 10,860 6,914 63.7%Net income $57,170 $30,972 $26,198 84.6% Pre-tax pre-provision net revenue ("PPNR") (1) $90,097 $59,937 $30,160 50.3%Core PPNR(1) $88,840 $66,487 $22,353 33.6% Common Share Data Earnings per share - Basic $3.45 $2.12 $1.33 62.7%Earnings per share - Diluted $3.41 $2.12 $1.29 60.8%Core earnings per share - Diluted(1) $3.36 $2.74 Weighted average common shares - Basic 16,582 14,584 Weighted average common shares - Diluted 16,768 14,640 Return Ratios Return on average assets 1.71% 1.21% Core return on average assets(1) 1.68% 1.57% Return on average equity 15.13% 10.78% Core return on average equity(1) 14.90% 13.94% Return on average tangible common equity(1) 17.10% 11.07% Core return on average tangible common equity(1) 16.84% 14.30%

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(1) Refer to Appendix for reconciliation of non-GAAP measures.

COMPARATIVE FINANCIAL HIGHLIGHTS - Unaudited (Continued) Quarter Ended Quarter Ended December 31, September 30, June 30, March 31,(in thousands, except per share data) 2025 2024 % Change 2025 2025 2025Balance Sheet Highlights Assets$3,606,207 $3,206,911 12.5% $3,389,442 $3,388,662 $3,349,805Investment securities available-for-sale 230,083 223,630 2.9% 232,640 228,923 213,452Mortgage loans held for sale 25,828 17,063 51.4% 14,146 15,933 30,005Portfolio loans receivable (2) 2,959,457 2,630,163 12.5% 2,821,983 2,739,808 2,678,406Allowance for credit losses 54,660 48,652 12.3% 53,045 47,447 48,454Goodwill 25,969 21,126 22.9% 25,969 22,478 24,085Intangible assets 13,246 14,072 (5.9)% 13,457 13,668 13,861Core deposit intangibles 1,525 1,745 (12.6)% 1,576 1,627 1,695Deposits 3,092,979 2,761,939 12.0% 2,912,053 2,940,738 2,891,333FHLB borrowings 50,000 22,000 127.3% 22,000 22,000 22,000Other borrowed funds 2,062 12,062 (82.9)% 12,062 12,062 12,062Total stockholders' equity 401,978 355,139 13.2% 394,770 380,035 369,577Tangible common equity (1) 361,238 318,196 13.5% 353,768 342,262 329,936 Common shares outstanding 16,381 16,663 (1.7)% 16,589 16,582 16,657Book value per share$24.54 $21.31 15.2% $23.80 $22.92 $22.19Tangible book value per share (1)$22.05 $19.10 15.4% $21.33 $20.64 $19.81Dividends per share$0.12 $0.10 20.0% $0.12 $0.10 $0.10

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(1) Refer to Appendix for reconciliation of non-GAAP measures.
(2) Loans are reflected net of deferred fees and costs.

Consolidated Statements of Income (Unaudited) Three Months EndedYear Ended(in thousands)December 31, 2025 September 30, 2025 June 30, 2025 March 31, 2025 December 31, 2024 December 31, 2025 December 31, 2024Interest income Loans, including fees$64,933 $60,838 $60,810 $58,691 $58,602 $245,272 $202,915 Investment securities available-for-sale 1,728 1,805 1,582 1,861 1,539 6,976 5,441 Federal funds sold and other 1,973 2,248 2,194 2,208 1,566 8,623 4,945 Total interest income 68,634 64,891 64,586 62,760 61,707 260,871 213,301 Interest expense Deposits 17,805 12,732 16,722 16,512 16,385 63,771 56,170 Borrowed funds 550 139 218 201 995 1,108 2,385 Total interest expense 18,355 12,871 16,940 16,713 17,380 64,879 58,555 Net interest income 50,279 52,020 47,646 46,047 44,327 195,992 154,746 Provision for credit losses 3,988 4,650 4,081 2,246 7,828 14,965 17,720 (Release of) provision for credit losses on unfunded commitments (29) 217 — — 122 188 385 Net interest income after provision for credit losses 46,320 47,153 43,565 43,801 36,377 180,839 136,641 Noninterest income Service charges on deposits 371 425 262 258 241 1,316 883 Credit card fees 4,837 4,509 4,298 3,722 3,733 17,366 15,999 Mortgage banking revenue 1,960 1,927 1,754 1,831 1,821 7,472 7,146 Government lending revenue — 14 3,112 1,096 2,301 4,222 2,301 Government loan servicing revenue 4,036 4,265 3,644 3,568 3,993 15,513 3,993 Loan servicing rights (government guaranteed) 295 368 (590) 472 1,013 545 1,013 Non-recurring equity and debt investment write-down — — — — (2,620) — (2,620)Other income 965 (440) 626 1,602 1,431 2,753 2,695 Total noninterest income 12,464 11,068 13,106 12,549 11,913 49,187 31,410 Noninterest expenses Salaries and employee benefits 17,914 17,728 18,460 18,067 16,513 72,169 56,037 Occupancy and equipment 2,638 2,849 2,995 2,910 2,976 11,392 8,244 Professional fees 4,294 2,131 2,422 2,112 2,150 10,959 7,846 Data processing 7,502 7,654 7,520 7,112 7,210 29,788 27,689 Advertising 1,398 1,714 1,371 1,779 1,032 6,262 6,359 Loan processing 1,152 1,114 979 743 969 3,988 2,431 Foreclosed real estate expenses, net — — — 1 — 1 2 Merger-related expenses — 697 1,398 1,266 2,615 3,361 3,930 Operational and other card fraud related losses 750 923 933 903 993 3,509 3,714 Regulatory assessment expenses 858 740 884 889 554 3,371 1,937 Other operating 2,597 2,804 2,610 2,271 2,502 10,282 8,030 Total noninterest expenses 39,103 38,354 39,572 38,053 37,514 155,082 126,219 Income before income taxes 19,681 19,867 17,099 18,297 10,776 74,944 41,832 Income tax expense 4,644 4,802 3,963 4,365 3,243 17,774 10,860 Net income$15,037 $15,065 $13,136 $13,932 $7,533 $57,170 $30,972

Consolidated Balance Sheets (unaudited) (unaudited) (unaudited) (unaudited) (audited)(in thousands, except share data)December 31, 2025 September 30, 2025 June 30, 2025 March 31, 2025 December 31, 2024Assets Cash and due from banks$30,894 $25,724 $26,843 $27,836 $25,433 Interest-bearing deposits at other financial institutions 224,611 163,078 247,704 266,092 179,841 Federal funds sold 60 59 59 59 58 Total cash and cash equivalents 255,565 188,861 274,606 293,987 205,332 Investment securities available-for-sale 230,083 232,640 228,923 213,452 223,630 Restricted investments 8,397 7,057 7,043 7,031 4,479 Loans held for sale 25,828 14,146 15,933 30,005 17,063 Portfolio loans receivable, net of deferred fees and costs 2,959,457 2,821,983 2,739,808 2,678,406 2,630,163 Less allowance for credit losses (54,660) (53,045) (47,447) (48,454) (48,652)Total portfolio loans held for investment, net 2,904,797 2,768,938 2,692,361 2,629,952 2,581,511 Premises and equipment, net 15,072 15,304 14,863 15,085 15,525 Accrued interest receivable 16,695 19,011 15,149 19,458 16,664 Goodwill 25,969 25,969 22,478 24,085 21,126 Intangible assets 13,246 13,457 13,668 13,861 14,072 Core deposit intangibles 1,525 1,576 1,627 1,695 1,745 Loan servicing assets 1,816 2,070 2,221 2,244 5,511 Deferred tax asset 14,992 14,885 15,667 15,902 16,670 Bank owned life insurance 45,488 45,105 44,721 44,335 43,956 Other assets 46,734 40,423 39,402 38,713 39,627 Total assets$3,606,207 $3,389,442 $3,388,662 $3,349,805 $3,206,911 Liabilities Deposits Noninterest-bearing$852,520 $857,543 $836,979 $812,224 $810,928 Interest-bearing 2,240,459 2,054,510 2,103,759 2,079,109 1,951,011 Total deposits 3,092,979 2,912,053 2,940,738 2,891,333 2,761,939 Federal Home Loan Bank advances 50,000 22,000 22,000 22,000 22,000 Other borrowed funds 2,062 12,062 12,062 12,062 12,062 Accrued interest payable 8,745 8,045 8,158 9,995 9,393 Other liabilities 50,443 40,512 25,669 44,838 46,378 Total liabilities 3,204,229 2,994,672 3,008,627 2,980,228 2,851,772 Stockholders' equity Common stock 164 166 166 167 167 Additional paid-in capital 120,913 127,359 126,888 128,692 128,598 Retained earnings 286,661 274,041 261,093 249,925 237,843 Accumulated other comprehensive loss (5,760) (6,796) (8,112) (9,207) (11,469)Total stockholders' equity 401,978 394,770 380,035 369,577 355,139 Total liabilities and stockholders' equity$3,606,207 $3,389,442 $3,388,662 $3,349,805 $3,206,911

The following tables show the average outstanding balance of each principal category of our assets, liabilities and stockholders’ equity, together with the average yields on our assets and the average costs of our liabilities for the periods indicated. Such yields and costs are calculated by dividing the annualized income or expense by the average daily balances of the corresponding assets or liabilities for the same period.

Three Months Ended
December 31, 2025 Three Months Ended
September 30, 2025 Three Months Ended
December 31, 2024 Average
Outstanding
Balance Interest Income/
Expense Average
Yield/
Rate(1) Average
Outstanding
Balance Interest Income/
Expense Average
Yield/
Rate(1) Average
Outstanding
Balance Interest Income/
Expense Average
Yield/
Rate(1) (in thousands)Assets Interest earning assets: Interest-bearing deposits$196,281 $1,868 3.78% $194,858 $2,139 4.36% $140,206 $1,446 4.10%Federal funds sold 60 1 6.61 59 1 5.79 58 — — Investment securities available-for-sale 238,295 1,728 2.88 241,086 1,805 2.97 236,951 1,539 2.58 Restricted investments 6,725 104 6.14 7,052 108 6.06 7,292 120 6.55 Loans held for sale 17,118 263 6.10 13,783 228 6.57 25,614 193 3.00 Portfolio loans receivable(2)(3) 2,902,033 64,670 8.84 2,789,815 60,610 8.62 2,592,960 58,409 8.96 Total interest earning assets 3,360,512 68,634 8.10 3,246,653 64,891 7.93 3,003,081 61,707 8.17 Noninterest earning assets 138,028 131,643 117,026 Total assets$3,498,540 $3,378,296 $3,120,107 Liabilities and Stockholders’ Equity Interest-bearing liabilities: Interest-bearing demand accounts$269,342 366 0.54 $282,873 388 0.54 $257,446 424 0.66 Savings 12,033 11 0.36 12,887 15 0.47 13,497 20 0.59 Money market accounts 1,061,293 9,124 3.41 985,106 8,650 3.48 763,526 7,131 3.72 Time deposits 812,186 8,304 4.06 815,302 3,679 1.79 847,618 8,810 4.13 Borrowed funds 46,497 550 4.69 34,062 139 1.62 97,116 995 4.08 Total interest-bearing liabilities 2,201,351 18,355 3.31 2,130,230 12,871 2.40 1,979,203 17,380 3.49 Noninterest-bearing liabilities: Noninterest-bearing liabilities 67,509 43,245 58,460 Noninterest-bearing deposits 837,930 820,899 729,907 Stockholders’ equity 391,750 383,922 352,537 Total liabilities and stockholders’ equity$3,498,540 $3,378,296 $3,120,107 Net interest spread 4.79% 5.53% 4.68%Net interest income $50,279 $52,020 $44,327 Net interest margin(4) 5.94% 6.36% 5.87%

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(1)   Annualized.
(2)   Includes nonaccrual loans.
(3)   For the three months ended December 31, 2025, September 30, 2025, and December 31, 2024, collectively, Commercial Bank Loan Yield was 6.95%, 6.74% and 6.98%, respectively.
(4)   For the three months ended December 31, 2025, September 30, 2025, and December 31, 2024, collectively, Commercial Bank Net Interest Margin was 4.18%, 4.64% and 3.99%, respectively.

Year Ended December 31, 2025 2024 Average
Outstanding
Balance Interest Income/
Expense Average
Yield/
Rate Average
Outstanding
Balance Interest Income/
Expense Average
Yield/
Rate(1) (in thousands)Assets Interest earning assets: Interest-bearing deposits$194,080 $8,211 4.23% $98,319 $4,569 4.65%Federal funds sold 59 2 3.39 57 3 5.26 Investment securities available-for-sale 236,346 6,976 2.95 228,909 5,441 2.38 Restricted investments 6,648 410 6.17 5,563 373 6.71 Loans held for sale 12,576 892 7.09 12,121 569 4.69 Portfolio loans receivable(1)(2) 2,765,758 244,380 8.84 2,142,638 202,346 9.44 Total interest earning assets 3,215,467 260,871 8.11 2,487,607 213,301 8.57 Noninterest earning assets 133,207 66,442 Total assets$3,348,674 $2,554,049 Liabilities and Stockholders’ Equity Interest-bearing liabilities: Interest-bearing demand accounts$269,224 $1,513 0.56% $221,437 $1,003 0.45%Savings 12,789 60 0.47 6,732 27 0.40 Money market accounts 960,882 33,195 3.45 704,002 28,741 4.08 Time deposits 825,847 29,003 3.51 561,369 26,399 4.70 Borrowed funds 37,196 1,108 2.98 63,686 2,385 3.74 Total interest-bearing liabilities 2,105,938 64,879 3.08 1,557,226 58,555 3.76 Noninterest-bearing liabilities: Noninterest-bearing liabilities 53,197 34,043 Noninterest-bearing deposits 811,798 675,360 Stockholders’ equity 377,741 287,420 Total liabilities and stockholders’ equity$3,348,674 $2,554,049 Net interest spread 5.03% 4.81%Net interest income $195,992 $154,746 Net interest margin(3) 6.10% 6.22%

(1)   Includes nonaccrual loans.
(2)   For the years ended December 31, 2025 and 2024, collectively. Commercial Bank Loan Yield was 6.99% and 7.03%, respectively.
(3)   For the years ended December 31, 2025 and 2024, collectively. Commercial Bank Net Interest Margin was 4.38% and 3.93%, respectively.

The Company’s reportable segments represent business units with discrete financial information whose results are regularly reviewed by management. The four segments include Commercial Banking, OpenSky™ (the Company’s credit card division), Windsor Advantage™ and Capital Bank Home Loans (the Company’s mortgage loan division).

Prior to March 31, 2025, the Company disclosed Corporate as a reportable segment. The Company has determined that what was previously deemed the Corporate reportable segment consists of other business activities that are associated with the Commercial Bank and are reflected in the tabular disclosures that follow. It should be noted that such restructuring of the tabular disclosure did not result in any changes to the Company's revenue and expense allocation methodology. The Company restructured prior period tabular disclosures to achieve appropriate comparability.

The following schedules reported internally for performance assessment by the chief operating decision maker presents financial information for each reportable segment for the periods indicated. Total assets are presented as of December 31, 2025, September 30, 2025, and December 31, 2024.

Segments For the three months ended December 31, 2025 (in thousands) Commercial Bank OpenSky™ Windsor Advantage™ CBHL Consolidated Interest income $51,994 $16,377 $— $263 $68,634 Interest expense 18,230 — — 125 18,355 Net interest income 33,764 16,377 — 138 50,279 Provision for credit losses 2,715 1,273 — — 3,988 Release of credit losses on unfunded commitments (29) — — — (29) Net interest income after provision 31,078 15,104 — 138 46,320 Noninterest income Service charges on deposits 371 — — — 371 Credit card fees — 4,837 — — 4,837 Mortgage banking revenue 433 — — 1,527 1,960 Government lending revenue — — — — — Government loan servicing revenue(1) (952) — 4,988 — 4,036 Loan servicing rights (government guaranteed) 295 — — — 295 Other income 698 10 — 257 965 Total noninterest income 845 4,847 4,988 1,784 12,464 Noninterest expenses Salaries and employee benefits 11,071 3,038 2,425 1,380 17,914 Occupancy and equipment 1,773 688 40 137 2,638 Professional fees 3,047 947 53 247 4,294 Data processing 1,026 6,687 (165) (46) 7,502 Advertising 608 634 (3) 159 1,398 Loan processing 101 475 163 413 1,152 Foreclosed real estate expenses, net — — — — — Merger-related expenses — — — — — Operational and other card fraud related losses 13 737 — — 750 Regulatory assessment expenses 230 388 143 97 858 Other operating 639 966 763 229 2,597 Total noninterest expenses 18,508 14,560 3,419 2,616 39,103 Net income (loss) before taxes $13,415 $5,391 $1,569 $(694) $19,681 Total assets $3,407,326 $140,914 $25,993 $31,974 $3,606,207

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(1) Gross government loan servicing revenue totaled $5.0 million, including $1.0 million of servicing fees earned from the Commercial Bank by WindsorTM, for the three months ended December 31, 2025.

Segments For the three months ended September 30, 2025 (in thousands) Commercial Bank OpenSky™ Windsor Advantage™ CBHL Consolidated Interest income(2) $49,035 $15,628 $— $228 $64,891 Interest expense(3) 12,768 — — 103 12,871 Net interest income 36,267 15,628 — 125 52,020 Provision for credit losses 1,852 2,798 — — 4,650 Provision for credit losses on unfunded commitments 217 — — — 217 Net interest income after provision 34,198 12,830 — 125 47,153 Noninterest income Service charges on deposits 425 — — — 425 Credit card fees — 4,509 — — 4,509 Mortgage banking revenue 315 — — 1,612 1,927 Government lending revenue 14 — — — 14 Government loan servicing revenue(1) (1,074) — 5,339 — 4,265 Loan servicing rights (government guaranteed) 368 — — — 368 Other (loss) income (557) (33) — 150 (440) Total noninterest income (509) 4,476 5,339 1,762 11,068 Noninterest expenses Salaries and employee benefits 10,559 3,271 2,455 1,443 17,728 Occupancy and equipment 1,635 632 416 166 2,849 Professional fees 1,079 571 198 283 2,131 Data processing 350 7,154 97 53 7,654 Advertising 694 833 76 111 1,714 Loan processing 740 15 67 292 1,114 Foreclosed real estate expenses, net — — — — — Merger-related expenses 697 — — — 697 Operational and other card fraud related losses — 923 — — 923 Regulatory assessment expenses 788 (30) (11) (7) 740 Other operating 1,493 587 614 110 2,804 Total noninterest expenses 18,035 13,956 3,912 2,451 38,354 Net income (loss) before taxes $15,654 $3,350 $1,427 $(564) $19,867 Total assets $3,213,222 $134,422 $21,743 $20,055 $3,389,442

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(1) Gross government loan servicing revenue totaled $5.3 million, including $1.1 million of servicing fees earned from the Commercial Bank by Windsor™, for the three months ended September 30, 2025
(2) Interest income of $52.0 million for the Commercial Bank includes the $1.3 million Interest Income Adjustment.
(3) Interest expense of $12.8 million for the Commercial Bank includes the $4.6 million Call of Brokered Time Deposits.

Segments For the three months ended December 31, 2024 (in thousands) Commercial Bank OpenSky™ Windsor Advantage™ CBHL Consolidated Interest income $46,061 $15,454 $— $192 $61,707 Interest expense 17,249 — — 131 17,380 Net interest income 28,812 15,454 — 61 44,327 Provision for credit losses 6,651 1,177 — — 7,828 Provision for credit losses on unfunded commitments 122 — — — 122 Net interest income after provision 22,039 14,277 — 61 36,377 Noninterest income Service charges on deposits 241 — — — 241 Credit card fees — 3,733 — — 3,733 Mortgage banking revenue 284 — — 1,537 1,821 Government lending revenue 2,301 — — — 2,301 Government loan servicing revenue(1) (543) — 4,536 — 3,993 Loan servicing rights (government guaranteed 1,013 — — — 1,013 Non-recurring equity and debt investment write-down (2,620) — — — (2,620) Other income 1,252 10 30 139 1,431 Total noninterest income 1,928 3,743 4,566 1,676 11,913 Noninterest expense Salaries and employee benefits 10,383 2,985 1,662 1,483 16,513 Occupancy and equipment 1,655 617 537 167 2,976 Professional fees 914 845 123 268 2,150 Data processing 639 6,495 32 44 7,210 Advertising 767 79 106 80 1,032 Loan processing 754 14 3 198 969 Foreclosed real estate expenses, net — — — — — Merger-related expenses 2,615 — — — 2,615 Operational and other card fraud related losses 24 969 — — 993 Regulatory assessment expenses 525 21 1 6 553 Other operating 1,596 570 206 131 2,503 Total noninterest expenses 19,872 12,595 2,670 2,377 37,514 Net income (loss) before taxes $4,095 $5,425 $1,896 $(640) $10,776 Total assets $3,033,792 $125,913 $25,515 $21,691 $3,206,911

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(1) Gross government loan servicing revenue totaled $4.5 million, including $0.5 million of servicing fees earned from the Commercial Bank by WindsorTM, for the three months ended December 31, 2024.

Segments For the year ended December 31, 2025 (in thousands) Commercial Bank OpenSky™ Windsor Advantage™ CBHL Consolidated Interest income(3) $199,122 $60,943 $— $806 $260,871 Interest expense(4) 64,503 — — 376 64,879 Net interest income 134,619 60,943 — 430 195,992 Provision for credit losses 6,172 8,793 — — 14,965 Release of credit losses on unfunded commitments 188 — — — 188 Net interest income after provision 128,259 52,150 — 430 180,839 Noninterest income Service charges on deposits 1,316 — — — 1,316 Credit card fees — 17,366 — — 17,366 Mortgage banking revenue 1,476 — — 5,996 7,472 Government lending revenue 4,222 — — — 4,222 Government loan servicing revenue(1) (4,116) — 19,629 — 15,513 Loan servicing rights (government guaranteed)(2) 545 — — — 545 Other income 1,913 13 — 827 2,753 Total noninterest income 5,356 17,379 19,629 6,823 49,187 Noninterest expenses Salaries and employee benefits 43,346 13,057 9,795 5,971 72,169 Occupancy and equipment 6,888 2,381 1,535 588 11,392 Professional fees 6,849 2,661 442 1,007 10,959 Data processing 2,270 27,320 118 80 29,788 Advertising 2,815 2,811 212 424 6,262 Loan processing 1,968 533 291 1,196 3,988 Foreclosed real estate expenses, net 1 — — — 1 Merger-related expenses 3,361 — — — 3,361 Operational and other card fraud related losses 144 3,365 — — 3,509 Regulatory assessment expenses 2,743 388 143 97 3,371 Other operating 5,357 2,407 1,985 533 10,282 Total noninterest expenses 75,742 54,923 14,521 9,896 155,082 Net income (loss) before taxes $57,873 $14,606 $5,108 $(2,643) $74,944 Total assets $3,407,326 $140,914 $25,993 $31,974 $3,606,207

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(1) Gross government loan servicing revenue totaled $19.6 million, including $4.1 million of servicing fees earned from the Commercial Bank by WindsorTM, for the year ended December 31, 2025.
(2) Loan servicing rights of $0.5 million for the Commercial Bank includes a $1.7 million fair value adjustment associated with the loan servicing portfolio. (3)Interest income of $199.1 million for the Commercial Bank includes the $1.3 million Interest Income Adjustment.
(4) Interest expense of $64.5 million for the Commercial Bank includes the $4.6 million Call of Brokered Time Deposits.

Segments For the year ended December 31, 2024 (in thousands) Commercial Bank OpenSky™ Windsor Advantage™ CBHL Consolidated Interest income $150,948 $61,785 $— $568 $213,301 Interest expense 58,192 — — 363 58,555 Net interest income 92,756 61,785 — 205 154,746 Provision for credit losses 10,391 7,329 — — 17,720 Provision for credit losses on unfunded commitments 385 — — — 385 Net interest income after provision 81,980 54,456 — 205 136,641 Noninterest income Service charges on deposits 883 — — — 883 Credit card fees — 15,999 — — 15,999 Mortgage banking revenue 1,072 — — 6,074 7,146 Government lending revenue 2,301 — — — 2,301 Government loan servicing revenue(1) (543) — 4,536 — 3,993 Loan servicing rights (government guaranteed) 1,013 — — — 1,013 Non-recurring equity and debt investment write-down (2,620) — — — (2,620) Other income 1,932 123 30 610 2,695 Total noninterest income 4,038 16,122 4,566 6,684 31,410 Noninterest expenses Salaries and employee benefits 36,229 12,156 1,662 5,990 56,037 Occupancy and equipment 5,085 2,035 537 587 8,244 Professional fees 3,575 3,183 123 965 7,846 Data processing 1,496 25,991 32 170 27,689 Advertising 1,982 3,944 106 327 6,359 Loan processing 1,517 59 3 852 2,431 Foreclosed real estate expenses, net 2 — — — 2 Merger-related expenses 3,930 — — — 3,930 Operational and other card fraud related losses 37 3,677 — — 3,714 Regulatory assessment expenses 1,909 21 1 6 1,937 Other operating 5,165 2,179 206 480 8,030 Total noninterest expenses 60,927 53,245 2,670 9,377 126,219 Net income (loss) before taxes $25,091 $17,333 $1,896 $(2,488) $41,832 Total assets $3,033,792 $125,913 $25,515 $21,691 $3,206,911

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(1) Gross government loan servicing revenue totaled $4.5 million, including $0.5 million of servicing fees earned from the Commercial Bank by WindsorTM, for the year ended December 31, 2024.

HISTORICAL FINANCIAL HIGHLIGHTS - Unaudited Quarter Ended(in thousands, except per share data) December 31,
2025 September 30, 2025 June 30,
2025 March 31,
2025 December 31,
2024Earnings: Net income $15,037 $15,065 $13,136 $13,932 $7,533 Earnings per common share, diluted 0.91 0.89 0.78 0.82 0.45 Net interest margin 5.94% 6.36% 6.04% 6.05% 5.87%Commercial Bank net interest margin(2) 4.18% 4.64% 4.38% 4.32% 3.99%Return on average assets(1) 1.71% 1.77% 1.60% 1.75% 0.96%Return on average equity(1) 15.23% 15.57% 14.17% 15.56% 8.50%Efficiency ratio 62.32% 60.79% 65.14% 64.94% 66.70% Balance Sheet: Total portfolio loans receivable, net deferred fees $2,959,457 $2,821,983 $2,739,808 $2,678,406 $2,630,163 Total deposits 3,092,979 2,912,053 2,940,738 2,891,333 2,761,939 Total assets 3,606,207 3,389,442 3,388,662 3,349,805 3,206,911 Total stockholders' equity 401,978 394,770 380,035 369,577 355,139 Total average portfolio loans receivable, net deferred fees 2,902,033 2,789,815 2,733,865 2,634,110 2,592,960 Total average deposits 2,992,784 2,917,067 2,841,153 2,768,284 2,611,994 Portfolio loans-to-deposit ratio (period-end balances) 95.68% 96.91% 93.17% 92.64% 95.23%Portfolio loans-to-deposit ratio (average balances) 96.97% 95.64% 96.22% 95.15% 99.27% Asset Quality Ratios: Nonperforming assets to total assets 1.62% 1.54% 1.07% 1.28% 0.94%Nonperforming loans to total loans 1.84% 1.85% 1.32% 1.60% 1.15%Net charge-offs to average portfolio loans (1) 0.32% 0.35% 0.75% 0.38% 0.37%Allowance for credit losses to total loans 1.85% 1.88% 1.73% 1.81% 1.85%Allowance for credit losses to non-performing loans 100.44% 101.53% 131.19% 112.86% 160.88% Bank Capital Ratios: Total risk based capital ratio 12.60% 12.95% 13.13% 12.93% 12.79%Tier-1 risk based capital ratio 11.34% 11.69% 11.87% 11.67% 11.54%Leverage ratio 9.24% 9.34% 9.39% 9.27% 9.17%Common Equity Tier-1 capital ratio 11.34% 11.69% 11.87% 11.67% 11.54%Tangible common equity 8.75% 9.06% 8.84% 8.66% 9.31%Holding Company Capital Ratios: Total risk based capital ratio 14.31% 15.25% 15.30% 14.97% 15.48%Tier-1 risk based capital ratio 13.05% 13.62% 13.66% 13.32% 13.83%Leverage ratio 10.72% 10.98% 10.90% 10.68% 11.07%Common Equity Tier-1 capital ratio 12.98% 13.54% 13.58% 13.24% 13.74%Tangible common equity 10.08% 10.60% 10.22% 9.94% 11.07%

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(1)   Annualized.
(2)   Refer to Appendix for reconciliation of non-GAAP measures.

HISTORICAL FINANCIAL HIGHLIGHTS - Unaudited (Continued) Quarter Ended(in thousands, except per share data) December 31,
2025 September 30, 2025 June 30,
2025 March 31,
2025 December 31,
2024Composition of Loans: Commercial real estate, non owner-occupied $533,141 $509,878 $495,341 $484,399 $471,329 Commercial real estate, owner-occupied 418,701 442,827 436,421 420,643 440,026 Residential real estate 765,808 740,060 710,730 693,597 688,552 Construction real estate 359,566 344,290 343,189 343,280 321,252 Commercial and industrial 698,289 619,148 593,279 594,331 554,550 Lender finance 41,421 31,883 32,494 23,165 28,574 Business equity lines of credit 3,818 2,931 2,853 3,468 3,090 Credit card, net of reserve(3) 142,397 136,483 131,029 118,709 127,766 Other consumer loans 1,930 2,010 2,727 2,200 2,089 Portfolio loans receivable $2,965,071 $2,829,510 $2,748,063 $2,683,792 $2,637,228 Deferred origination fees, net (5,614) (7,527) (8,255) (5,386) (7,065)Portfolio loans receivable, net $2,959,457 $2,821,983 $2,739,808 $2,678,406 $2,630,163 Composition of Deposits: Noninterest-bearing $852,520 $857,543 $836,979 $812,224 $810,928 Interest-bearing demand 257,233 275,767 319,431 296,455 238,881 Savings 11,679 12,835 12,879 12,819 13,488 Money market