Q3 2024 Earnings Release Presentation

Total assets

$

6,552.5

(0.44) %

1.31

%

Total loans held for investment, net

4,328.8

0.97

6.46

Total deposits

5,368.7

(0.81)

0.10

Equity to assets ratio

8.58 %

33

bps

77

bps

Tangible common equity ratio (non-GAAP)

7.22

34

68

CET1 risk-based capital ratio

9.91

35

39

Total risk-based capital ratio

12.96

34

51

Loans to deposits ratio

80.63

142

482

Net interest margin, tax equivalent (non-GAAP)

2.51 %

10

bps

16

bps

Cost of total deposits

2.14

3

43

Retuon average assets

(5.78)

(673)

(634)

Efficiency ratio (non-GAAP)

70.32

1,403

426

Diluted EPS

$

(6.05)

(705)

%

(1143)

%

Adjusted EPS (non-GAAP)

0.58

12

4

Nonperforming loans ratio

0.51 %

(8)

bps

(20)

bps

Nonperforming assets ratio

0.39

(8)

(6)

Net charge-off ratio

0.16

11

12

Allowance for credit losses ratio

1.25

(1)

(2)

Geographic

Talent

Realignment

Transformation

Sale of Florida

Robust talent

branches (7.5%

acquisition

deposit premium)

strategy installing

and Acquisition of

senior leaders,

Bank of Denver

product

in first half of

management, IT

2024

resources and

revenue

producers across

target markets

Consumer, 2%

Agricultural, 3%

Residential Real Estate, 15%

CRE-Other, 31%

Construction &

Development, 9%

Iowa Metro

Twin Cities

Denver

5.86% Yield(4)

<$495K

Avg. Commercial

Loan Size(1)

Financial Information as of September 30, 2024.

(1)Average net nonaccrual active principal balance of the commercial loan portfolio.

(2)

Commercial loan net active principal balances reported in millions ($).

(3)

Excludes $193 million net active principal balance of commercial loans acquired in Denver Bankshares, Inc.

acquisition.

(4)

Non-GAAP Measure. See the Non-GAAP measures section for a reconciliation of the most directly comparable

7

GAAP measure.

9/30/2023

12/31/2023

3/31/2024

6/30/2024

9/30/2024

$ millions

3Q23

4Q23

1Q24

2Q24

3Q24

Nonperforming assets ratio

0.45 %

0.47 %

0.49 %

0.47 %

0.39 %

Net charge-off ratio

0.04 %

0.20 %

0.02 %

0.05 %

0.16 %

Loans greater than 30 days past due and

$6.4

$10.8

$8.8

$9.4

$11.9

accruing

Allowance for credit losses ratio

1.27 %

1.25 %

1.27 %

1.26 %

1.25 %

millions$

$2.1

$1.7

$0.5

$0.2

$0.5

3Q23

4Q23

1Q24

2Q24

3Q24

NOO CRE Office

All Other Loans

Average NOO CRE Office outstanding principal ($ millions)

$

1.4

% of Total Capital

Regulatory

Commercial Real Estate Concentration:

3Q24

2Q24

Threshold

Construction, land development and other land

56%

52%

100%

Total CRE loans(1)

232%

237%

300%

Commercial Real Estate Portfolio(2)

September 30, 2024

$ millions

3Q24

2Q24

Construction & Development

$

386.9

$

351.6

Farmland

182.2

183.6

Multifamily

409.5

430.1

CRE Other:

NOO CRE Office

154.7

157.1

OO CRE Office

84.6

84.6

Industrial and Warehouse

403.5

407.3

Retail

282.4

262.0

Hotel

111.7

112.8

Other

316.6

324.7

Total Commercial Real Estate

$

2,332.1

$

2,313.8

$-

2020

2021

2022

2023

3Q24

$15.0

$11.7

$11.2

$12.2

$10.4

$10.0

$9.6

$7.5

$7.3

$8.4

$6.9

$6.4

$5.0

$3.2

$4.2

$3.9

$3.8

$3.5

2020

2021

2022

2023

YTD 3Q24

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