#1Investor Presentation IN INBANKSHARES, CORP 30'2023#2Forward-Looking Statements and Non-GAAP Financial Measures IN Forward-Looking Statements: This presentation contains, among other things, certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, statements preceded by, followed by, or that include the words "may," "could," "should," "would," "believe," "anticipate," "estimate," "expect," "intend," "plan," "projects," "outlook" or similar expressions. These statements are based upon the current belief and expectations of InBankshares, Corp (the "Company") management team and are subject to significant risks and uncertainties that are subject to change based on various factors (many of which are beyond the Company's control). Although the Company believes that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove to be inaccurate. Therefore, the Company can give no assurance that the results contemplated in the forward-looking statements will be realized. The inclusion of this forward-looking information should not be construed as a representation by the Company or any person that the future events, plans, or expectations contemplated by the Company will be achieved. All subsequent written and oral forward-looking statements attributable to the Company or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements above. The Company does not undertake any obligation to update any forward-looking statement to reflect circumstances or events that occur after the date the forward-looking statements are made, except as required by law. Non-GAAP Financial Measures: Some of the financial measures included in this presentation are not measures of financial performance recognized in accordance with generally accepted accounting principles in the United States ("GAAP"). These non-GAAP financial measures include "tangible common equity," "tangible assets," "tangible common equity to tangible assets," "tangible book value per share”, “pre-provision, pre-tax net revenue", or "PPNR," "efficiency ratio", and "core efficiency ratio". The Company believes these non-GAAP financial measures provide both management and investors a more complete understanding of the Company's financial position and performance. These non-GAAP financial measures are supplemental and are not a substitute for any analysis based on GAAP financial measures. Not all companies use the same calculation of these measures; therefore, this presentation may not be comparable to other similarly titled measures as presented by other companies. A reconciliation of our non-GAAP financial measures to the comparable GAAP financial measures is included in the Appendix. 2#3Footprint Overview of In Bankshares, Corp Emphasis on capturing market share along the Colorado Front Range, while maintaining dominant market share in Southern Colorado and Northern New Mexico Focused on developing commercial relationships, technology solutions, and local decision making Bank Name Headquarters Company Snapshot InBank Greenwood Village, CO Dinosaur National lonument 130 Routt National Forest 13 White River National Forest Grand Junction Exchange/Ticker Market Cap. ($MM) 1 Shares Outstanding 2 Year Founded Offices OTCQX: INBC $90.9 11,729,066 2018 Financial Highlights at or for the quarter ended September 30, 2023 18 Uncompahgre National Forest IN ° Fort Collins Greeley Longmont Boulder IN NDenver IN Colorado Springs Metro Markets People-centric vs branch-centric The strategy is to be the premier business bank in the metro area for businesses with $1 - $100 million in revenue Full relationship bank - business, business owners, management, and employees 85 Colorado San Is N National Forest IN N 17 NNPueblo NN IN N Rio Grande National Forest 10 IN N N 401 25 550 Carson National Forest N N N Total Assets $1.29 Billion Gross Loans HFI $901.7 Million Deposits $1.04 Billion ROAA ROAE NIM 0.77% 8.46% Gallup 3.56% Tangible Common Equity 3 $90.3 Million Efficiency Ratio 3 73.42% 1. Market Cap is based on the shares outstanding in (2) and the closing stock price of $7.75 as of November 30, 2023. Shares Outstanding as of September 30, 2023. 2. 3. Tangible Common Equity and Efficiency Ratio are non-GAAP measures, see reconciliation tables elsewhere in this presentation. 285 Albuquerque Santa Fe 80 New Mexico Community Bank Markets Maintain dominant market share Focus on businesses, local government, and non-profits Strong low-cost deposit base 3#4INBC Timeline Invest for Growth ➤ June 2018: Ed Francis and investor group raise $69 million of capital and acquire International Bank, a 100-year-old community bank. ➤ June 2018: Associates join InBank from consolidating banks in the local markets. ➤February 2019: Completed online and mobile banking upgrade conversion. ➤ April 2019: Rebrand organization to InBank. IN INBANK Execution of Growth Strategy ➤ July 2019: Staff for growth with the addition of associates from consolidating banks in the local markets. ➤November 2019: Open the Denver Tech Center headquarters and North Denver office. January 2020: InBankshares, Corp is quoted on the OTCQX:INBC. April 2020: Begin participation in the SBA Paycheck Protection Program ("PPP"). ➤2020: InBank welcomes 330 new-to-bank customers. $1,203 $1,211 IN Expansion of Footprint ➤ April 2021: CFO, Dan Patten, joins the organization. Opened the Boulder office. ➤ April 2022: Closed the acquisition of Legacy Bank. July 2023: President and Chief Commercial Banking Officer, Bo Scott, joins the organization. September 2023: Launched new SBA lending division as INTQ Financial. $1,245 INTQ FINANCIAL LEGACY BANK $1,298 $1,302 $1,291 $745 $764 $609 $357 $396 2018 2019 2020 2021 1Q'22 2Q'22 Total Assets In Millions 3Q'22 4Q'22 1Q'23 2Q'23 4 3Q'23#53Q'2023 Highlights Earnings Balance Sheet Profitability & Performance IN Net income of $2.5 million compared to $2.6 million for the linked quarter, and $3.1 million for 3Q'2022 Earnings per share of $0.21 compared to $0.22 for the linked quarter, and $0.27 for 3Q'2022 Quarterly PPNR¹ of $3.2 million, compared to $3.4 million for the linked quarter, and $5.4 million for 3Q'2022 Loans held for investment (“HFI”) increased $4.0 million, or 0.4%, compared to the linked quarter, and increased $104.6 million, or 13.1%, compared to the same quarter in 2022 Total deposits decreased $15.4 million, or 1.5%, compared to the linked quarter, and decreased $12.4 million, or 1.2%, compared to the same quarter in 2022 Return on average assets was 0.77%, compared to 0.81% for the linked quarter and 1.01% for 3Q'2022 Net interest margin was 3.56%, compared to 3.59% for the linked quarter and 4.56% for 3Q'2022 Funding costs increased to 1.79%, compared to 1.62% for the linked quarter and 0.30% for 3Q'2022 Core efficiency ratio¹ was 70.0%, compared to 68.1% for the linked quarter and 58.7% for 3Q'2022 1. PPNR and Core Efficiency Ratio are non-GAAP measures, see reconciliation table elsewhere in this presentation 5#6$ In Thousands Growth in Earnings IN Trailing Six Quarters Annual $6,000 $0.30 $17,500 $0.27 $0.27 $0.27 $15,000 $1.00 $0.97 $0.84 $5,000 $0.25 $0.75 $0.22 $12,500 $0.21 $4,000 $0.20 $0.20 $10,000 $0.50 $3,000 $0.15 $7,500 $0.36 $0.25 $5,000 $2,000 $0.10 $0.18 $2,500 $0.00 $1,000 $0.05 $- $- $0.00 $(2,500) -$0.23 -$0.25 2Q'22 3Q'22 4Q'22 1Q'23 2Q'23 3Q'23 2019 2020 2021 2022 3Q'23LTM PPNR Net Income EPS PPNR Net Income EPS ➤ EPS for the nine months ended September 30, 2023 increased 25% to $0.70 per share, compared to $0.56 for the nine months ended September 30, 2022 1. PPNR is a non-GAAP measure, see reconciliation table elsewhere in this presentation 6#7$ In Thousands Loan Growth $1,000,000 Total Loans Held for Investment (HFI) $800,000 $600,000 $400,000 $200,000 $- 4Q'21 1Q'22 2Q'22 3Q'22 4Q'22 1Q'23 2Q'23 3Q'23 Core Loans ■PPP Loans 6.00% Total Yield on Loans 1,2 5.50% 5.00% 4.50% 4.00% 4Q'21 1Q'22 2Q'22 3Q'22 4Q'22 1Q'23 2Q'23 3Q'23 5.77% IN Total Loans HFI of $901.7 million Total Loans HFI growth of $104.6 million, or 13.1%, for the trailing one-year period Loans HFI increased $4.0 million, or 0.4%, during the quarter MRQ total loan yield of 5.77%, compared to 5.60% in 2Q'2023, and 5.65% for 3Q'22 1 o MRQ included $354,000 in purchase discount accretion, compared to $329,000 in 2Q'2023, and $706,000 in 3Q'22 1. 3Q'2022 loan yield was favorably impacted by a one-time recognition of $983,000 in loan interest and fee income collected from a nonaccrual real estate loan sold during the quarter. 2Q'2022 loan yield was favorably impacted by a one-time recognition of $766,000 in prior period charged-off loan interest income collected on purchased credit impaired loans. 2. 7#8Diverse Loan Portfolio Loans held for investment at 9/30/2023: $901.7 million CRE I & CRE II ratios: 91.0%, 307.4% LOAN MIX C&I 22% Agriculture 2% Consumer & Other Construction 2% 14% Farm 4% 1-4 Family 9% Multifamily 1% CRE-NOO 31% CRE-OO 15% LOANS BY MARKET Other Colorado 13% Colorado Springs 7% New Mexico 4% Denver MSA 53% Pueblo 17% Boulder 6% IN 8#9$ In Thousands Deposit Growth $1,200,000 $1,000,000 $800,000 $600,000 $400,000 $200,000 $- 4Q'21 10'22 Total Deposits IN !!!!!! 2Q'22 3Q'22 4Q'22 1Q'23 2Q'23 3Q'23 Int Bearing Non-Int Bearing Cost of Deposits 2.22% 1.44% Total deposits of $1.04 billion Deposits decreased $12.4 million, or 1.2%, for the trailing one-year period Deposits decreased $15.4 million, or 1.5%, during the quarter Noninterest bearing deposits increased $7.9 million, or 2.1%, from the linked quarter, and make up 36.0% of total deposits MRQ total cost of deposits increased 13 bps to 1.44% MRQ cost of interest-bearing deposits increased 19 bps to 2.22% 2.50% 2.00% 1.50% 1.00% 0.50% 0.00% 4Q'21 1Q'22 2Q'22 3Q'22 4Q'22 1Q'23 2Q'23 3Q'23 Interest bearing deposits Total deposits 9#10Strong Core Deposit Base Deposits at 9/30/2023: $1.04 billion ➤ 36.0% Noninterest bearing deposits DEPOSIT MIX Jumbo Time 0% Retail Time 14% Brokered 4% MMDA & Savings 28% Interest Checking 18% Noninterest DDA Colorado 36% Springs 8% DEPOSITS BY MARKET Other Colorado New Mexico 19% 17% Pueblo 19% Denver MSA 31% Boulder 6% IN 10#11$ In Millions Taking Market Share In a Growing Market IN Emphasis on capturing market share in the Denver and Boulder MSAs and along the Colorado Front Range, Southern Colorado, and Northern New Mexico $400 InBank Deposits - Denver & Boulder MSAs $350 $300 $250 CAGR of 59% ווה. $200 $150 $100 $50 $- 2018 Source: S&P Capital 2019 2020 2021 As of June 30, 2023 2022 2023 $ In Millions Total Deposit Market - Denver & Boulder MSAs $160,000 $140,000 CAGR of 6% $120,000 $100,000 $80,000 $60,000 $40,000 $20,000 2018 2019 2020 As of June 30, 2023 2021 2022 2023 11#12NIM and Cost of Funds 5.00% 4.50% 4.00% 3.50% 3.31% 3.14% 3.00% 2.50% 4.56% 4.43% 4.17% 3.93% 3.59% 3.56% 2.00% 1.50% 1.79% 1.62% 1.16% 1.00% 0.55% 0.50% 0.29% 0.29% 0.27% 0.30% 0.00% 4Q'21 1Q'22 2Q'22 3Q'22 4Q'22 1Q'23 2Q'23 3Q'23. Cost of Funds NIM IN MRQ NIM of 3.56%, compared to 3.59% for 2Q'2023 Cost of funds of 1.79%, an increase of 17 bps from the linked quarter and an increase of 149 bps from 3Q'2022 Total loan yield of 5.77% for 3Q'2023 MRQ yield on investment securities of 3.62% Net loan to deposit ratio of 85.6% as of September 30, 2023 1. 3Q'2022 net interest margin and loan yield were favorably impacted by a one-time recognition of $983,000 in loan interest and fee income collected from a nonaccrual real estate loan sold during the quarter. 2. 2Q'2022 net interest margin and loan yield were favorably impacted by a one-time recognition of $766,000 in prior period charged-off loan interest income collected on purchased credit impaired loans. 12#13$ in Thousands Building Scale and Improving Efficiency Assets per Employee and Core NIE to Assets $8,500 3.00% 100% 90% 83.4% 76.9% $8,000 2.90% 80% 2.84% $7,729 70% $7,500 2.80% 60% 50% $7,000 $6,500 $6,595 T 2.70% 40% 2.64% 30% 2.60% 20% 10% $6,000 4Q'21 1Q'22 2Q'22 3Q'22 4Q'22 1Q'23 I Assets per Employee Core Noninterest Expense to Average Assets 2.50% 0% 2Q'23 3Q'23 4Q'21 1Q'22 2Q'22 Efficiency Ratio 3Q'22 4Q'22 IN 73.4% 70.0% 1Q'23 2Q'23 3Q'23 Efficiency Ratio Core Efficiency Ratio The Company continues to realize the benefit of scale and operational leverage, which is improving efficiency and profitability. Core noninterest expense ("NIE") and core efficiency ratio excludes intangible amortization and M&A expense. There were no M&A expenses in 1Q'23, 2Q'23 or 30'23. 1. Core noninterest expense, efficiency ratio, and core efficiency ratio are non-GAAP measures, see reconciliation tables elsewhere in this presentation 13#14$ In Thousands Asset Quality - NPAs and Past Due Loans IN Non-Performing Assets 1 Past Due Loans 30-89 Days $8,000 0.75% $6,000 1.20% $6,000 $4,000 $2,000 $5,000 0.60% $4,000 0.45% $3,000 0.30% $2,000 0.15% $1,000 1.00% 0.80% 0.60% 0.40% 0.20% $0 0.00% $0 0.00% 4Q'21 1Q'22 2Q'22 3Q'22 4Q'22 1Q'23 2Q'23 3Q'23 4Q'21 1Q'22 2Q'22 3Q'22 4Q'22 1Q'23 2Q'23 3Q'23 OREO I Nonaccural loans 90+ past due %NPAs to total assets Past due 30-89 days % of total loans In 3Q'23, nonperforming assets decreased $330,000 to $2.1 million, non performing assets to total assets ratio of 0.16% 1. Nonperforming assets excludes performing troubled debt restructured loans 14#15$ In Thousands Asset Quality - Allowance and Net Chargeoffs. Total Allowance + Purchase Discount $16,000 2.00% $500 Net Chargeoffs IN 0.20% $14,000 $12,000 $10,000 $8,000 $6,000 $4,000 $2,000 $0 4Q'21 1Q'22 2Q'22 3Q'22 4Q'22 Purch Disc ACL Total Allowance / Gross Loans 1Q'23 2Q'23 1.62% $400 1.50% 1.26% $300 1.00% $ In Thousands 0.50% $200 0.04% $100 $0 -0.07% 0.15% 0.14% 0.10% 0.05% 0.01% 0.00% 0.00% 0.00% -0.03% -0.05% -0.05% 0.00% 3Q'23 -$100 Allowance for Unfunded Commitments (ACL+Unfunded+Purch Disc)/(Gross Loans+Purch Disc) 4Q'21 1Q'22 2Q'22 3Q'22 4Q'22 I Net Chargeoffs (Recoveries) 1Q'23 2Q'23 -0.10% 3Q'23 Net Chargeoffs (Recoveries) / Average Loans The Company adopted the Current Expected Credit Losses ("CECL") standard effective January 1, 2023 and revised the initial adoption during 20'23. As revised, the adoption resulted in a $4.2 million increase in the allowance for credit losses on loans ("ACL"), which included a transfer of $2.9 million from purchase discount on acquired loans and a $1.3 million adjustment directly from retained earnings, net of deferred taxes Additionally, the allowance for unfunded commitments increased $1.4 million, also adjusted directly from retained earnings, net of deferred taxes. (Total of $5.6 million combined.) At September 30, 2023, the Company had an ACL balance of $10.3 million, or 1.14% of gross loans HFI, and an allowance for unfunded commitments balance of $1.1 million; the combined total allowance for lending related credit losses was $11.3 million, or 1.26% of gross loans HFI. When combined, the $3.3 million of purchase discount on acquired loans plus total allowance represented 1.62% of total loans HFI plus purchase discount. The increase in the purchase discount during 20'22 was related to the acquisition of Legacy Bank. Net charge-offs of $330,000 in 3Q'23 primarily consisted of one loan that was fully reserved for in 2Q'23. 15#16InBank Remains Well-Capitalized 12.00% 10.00% 8.00% 6.00% 4.00% 2.00% InBank Leverage Ratio $1,500,000 $1,250,000 $1,000,000 $750,000 $500,000 $250,000 0.00% $0 4Q'21 1Q'22 2Q'22 3Q'22 4Q'22 1Q'23 2Q'23 3Q'23 I Tier 1 Leverage Ratio Total Assets 1. Regulatory capital ratios and total assets for subsidiary InBank 2. Leverage Ratio was favorably impacted higher in 20'22, since Legacy Bank acquisition closed on April 29, 2022, which lowered the average assets used to calculate the ratio. $ In Thousands IN In Bank Capital Ratios 1 3Q'23 2 Tier 1 Leverage Ratio 10.03% Common Equity Tier 1 Capital Ratio 11.50% Tier 1 Capital Ratio 11.50% Total Capital Ratio 12.55% 16#17$ In Millions INBC Consolidated Tangible Capital INBC Tangible Common Equity¹ 9/30/2023 Tangible book value per share of $7.69 TBV per Share¹ IN $100.0 $90.0 $80.0 $67.3 $70.0 $60.0 $50.0 10.00% $9.00 $8.41 $90.3 9.00% $8.57 $7.69 $8.00 $8.24 8.00% $7.00 7.00% $6.00 6.00% $5.00 5.00% $4.00 $40.0 4.00% $3.00 $30.0 3.00% $2.00 $20.0 2.00% $10.0 1.00% $1.00 $- 0.00% $- 4Q'21 1Q'22 2Q'22 3Q'22 4Q'22 1Q'23 2Q'23 3Q'23 4Q'21 1Q'22 2Q'22 3Q'22 4Q'22 1Q'23 2Q'23 3Q'23 TCE TCE/TA Adjusted TCE/TA TBV per Share Adjusted TBV per Share ➤ Over the past seven quarters, Tangible Book Value (TBV) per share decreased $0.72 per share, from $8.41 in 4Q'21 to $7.69 in 3Q'23 ➤ A decrease in TBV per share of $1.05, or 12.5%, was the result of a decrease in AOCI of $11.6 million Excluding the impact of AOCI, TBV per share grew $0.33, or 4.0%, including the acquisition of Legacy Bank in 20'22 (which we estimate was ~12.0% dilutive at closing) 1. Tangible Common Equity, Tangible Book Value, Adjusted Tangible Common Equity, and Adjusted Tangible Book Value are non-GAAP measures, see reconciliation tables elsewhere in the presentation. 17#18Focused on Culture Our Mission: To Positively Impact the Lives of Our Customers, Communities and Associates IN Our Vision: We reinvent relationship banking by delivering an exceptional customer experience. Our devoted associates and loyal customers are the foundation of our success. COMMITMENT Each of us is committed to give our all. We engage our head, hands, and heart, and we believe that adding grit and hard work to talent results in success. INNOVATION We cultivate innovation. We offer technology, product solutions, and individualized advisory services that are distinct from our peers' to make our customers' lives easier. RESPONSIBILITY We empower our bankers to take responsibility for doing the right thing - always. We promote personal integrity and stress accountability. TEAMWORK We put teamwork above self. We work with humility for the good of customers, community, and associates. HAPPINESS We strive to maintain a workplace where happiness thrives. Smiles are contagious, and we inspire a positive atmosphere where customers will enjoy their banking experience. AUTHENTICITY We are committed to transparency and authenticity. While being respectful, we speak directly and recognize that differing opinions breed the best outcome. 18#19Strategic Pillars IN Exceed Win Customer WOW! Thriving Culture Growth Mindset Enhance Enhance •Exceed customer expectations with speedy decisions, clear communication, and deliver on the unexpected InBank's organizational health as a great place to work and build a career Win market share through development of new customer relationships, superior service, and consistent cultivation of current customers Make it Better Drive • Drive value by making it easier to get business done, and creating scalable best practices Own the Risk Empowered Empowered to identify risk to the Company and Customers; make sound decisions with collaborative risk oversight Think Big Act • Take action building expertise in strategic acquisitions and integration; evolve to create larger market share and scale 19#20Why Invest in In Bankshares? Colorado- headquartered Strong granular core deposit base company IN Proven and dedicated high caliber team Capturing market share in growth markets IN INBANK Building long term advisory based relationships Focused on building shareholder value 20 20#21Contact Information IN Edward Francis Chairman, Chief Executive Officer Email: Edward. [email protected] Phone: (720) 907-8130 Dan Patten EVP, Chief Financial Officer Email: [email protected] Phone: (720) 552-8327 IN INBANK 21#22APPENDIX IN INBANKSHARES, CORP 22#23Experienced Management Team IN Edward Francis - Chairman, Chief Executive Officer Ed has over 35 years of banking and financial institution experience and is Chairman of the Board and Chief Executive Officer for InBankshares and InBank. Previously, he held the position of Executive Vice President and Chief Banking Officer at Hancock Whitney and led both retail and commercial banking divisions. Ed also served on Hancock Whitney's Executive Management Committee for more than 10 years as assets grew from $5 billion to over $25 billion. He holds a B.S. in Managerial Finance from the University of Mississippi and matriculated from the Graduate School of Banking at LSU. Ed also serves on the board for Firefly Autism in Denver. Bo Scott President, Chief Commercial Banking Officer Bo has over 25 years of banking and financial institution experience, and is President and Chief Commercial Banking Officer for InBank. Previously, he held the positions of Executive Vice President at UMB Bank, leading the Colorado commercial bank, and was Senior Vice President at US Bank, where he managed multiple West Coast markets for the Emerging Business division. He holds a B.S. in Business Administration from the University of Southern Illinois and matriculated from the Graduate School of Banking at the University of Washington. Dan Patten - EVP, Chief Financial Officer Dan has over 20 years of experience in corporate finance, strategy, mergers and acquisitions, and public and private equity and debt financings, including 15 years as a finance executive in the commercial banking industry and over nine years as a chief financial officer. Prior to joining InBank, Dan held the position of Executive Vice President, Finance and Corporate Development, for Heartland Financial USA, Inc., a diversified financial services company with approximately $18 billion in assets. Dan holds a MBA in finance and a B.S. in Mechanical Engineering both from the University of Colorado, Boulder. David Brown - EVP, Chief Risk Officer Dave is a seasoned bank executive with 30 years of experience in the Denver and southwestern Colorado markets. He has extensive leadership experience and knowledge of credit risk management. Most recently, Dave spent eight years at Centennial Bank/Citywide Banks as Market President, Chief Credit Officer and Executive Vice President of Commercial Banking. holds a B.S. in Business from Fort Lewis College. He Brian Kreps - EVP, Denver Metro Region President Brian is an experienced private banker and leader in the Denver Metro Area. He leads the bank's efforts to create and provide a wide range of credit and depository services to customers. Brian is part of the bank's executive leadership team and oversees private banking, retail banking and mortgage banking business units. Prior to joining InBank, Brian was Vice President and Senior Private Banker with Mutual of Omaha Bank. He holds a B.S. in Business from Ferris State University. Andrew Trainor - EVP, Community Bank President Andrew has long been a community banking advocate and he is an activist for economic growth and development acting as a resource within the financing industry to help businesses thrive. Andrew is responsible for initiating the bank's extensive support of community institutions and activities. Under Andrew's lead, the bank's economic impact measured more than $18 million dollars including the value of 4,800 employee volunteer hours and the result of $1 million in non-profit financial support within the bank's operating footprint. Andrew. graduated from the University of Colorado Graduate School of Banking and is a proud alumni of Colorado State University Pueblo. 23#24Board of Directors Eric Donnelly Lead Director Eric is CEO of Capital Plus Financial which through its holding company, Crossroads Systems, is the first publicly traded nonbank Community Development Financial Institution (CDFI), providing affordable housing and mortgage financing to Hispanic communities. He has 20 years of expertise in banking and specialty finance focusing on small business, consumer and CRE lending.. He has a B.A. from SMU and is a graduate of The Center for Houston's Future Leadership Program and Stanford Latino Entrepreneur Scaling Program. Kevin Ahern Kevin is Managing Partner of Brush Creek Partners, a Denver-based private equity firm, and the former Chairman, Founder and CEO of CIC Bancshares, a Colorado-based bank holding company, and Chairman of Centennial Bank. He served as a senior executive with Heartland Financial USA, Inc. a $12 billion bank holding company, after Heartland's acquisition of Centennial Bank in 2016. Kevin has 35 years of expertise as an operator and investor in private equity, banking, financial services and investment management. IN Lisa Narrell-Mead Lisa is the CEO of Everett Advisory Partners, financial services advisory firm. She has extensive private law practice and corporate management experience, as well as 15 years of banking experience as Chief Employment Counsel at Regions Bank and Founding Executive of Cadence Bank. Lisa has a B.S. from Birmingham- Southern College and a JD from Emory University. Richard Trice Richard is a former Executive Officer and Senior Credit Officer for InBank. He has over 38 years of experience in commercial banking and investments, including Sunwest Bank, Bank of America and SunAmerica Securities. He serves on various community philanthropic boards, including The Whited Foundation and Santa Fe Trail School for the Performing Arts. Richard is a graduate of the New Mexico School of Banking, Western States Agricultural School of Banking and Stonier Graduate School of Banking. Mary Margaret Henke Mary Margaret is a global financial executive with expertise in finance, IT service delivery, audit and regulatory compliance. She began her career with nearly 10 years at PricewaterhouseCoopers and most recently she spent over a decade at Western Union (NYSE: WU), a global money transfer company. She is a graduate of the University of Denver and is a Certified Public Accountant (CPA). Sundeep Rana Sundeep Rana joined Castle Creek in 2011. Mr. Rana sits on the Investment Committee for the Castle Creek funds and is a board member of InBankshares, Central Payments LLC, CF Bankshares Inc., and CFBank, N.A. Additionally, Mr. Rana manages the firm's relationships with its investors and oversees the firm's capital markets, treasury, and operating activities. He also leads Castle Creek's minority scholarship program created to enhance access in community banking for underrepresented individuals. Travis Conway Travis is a Founding Partner of Rallyday Partners, a Colorado-based private equity middle market-focused firm. He is the former President and Managing Director of SDR Ventures, a Colorado-based boutique middle market investment bank. Travis has significant litigation and dispute advisory experience from Navigant Consulting and Ernst & Young. Wil Armstrong Wil is Chairman and CEO of Three Tree Capital, a privately held investment company focused on venture capital, early-stage growth companies, and private equity. He is the former Chairman of Cherry Creek Mortgage Company, a nationally ranked residential mortgage bank and a former board member of Colorado Community Bank and Heritage Bank. Wil has a BBA from James Madison University. Don Bechter Don is Managing Partner of RMB Capital, a wealth and investment management firm with over $10B in assets under management. He is the former Managing Director and head of RBC Capital Market's telecom group where he gained extensive M&A experience. He has a bachelor's degree from the University of Colorado, an MBA from Kellogg School of Management at Northwestern University, and is a Chartered Financial Analyst (CFA) Janet McClure Janet has enjoyed 30 years of small business ownership/partnership in agricultural manufacturing, family entertainment, and health- related fields. Her entrepreneurial endeavors have given her depth of experience in human resources, marketing, team building, culture development and contract negotiation. Jan holds a master's degree in Human Development from Colorado State University. Janet currently serves on the board of directors for Colorado Mills, a zero- waste manufacturing facility that processes 10% of the sunflower crop grown in the United States. 24#25Non-GAAP Measures InBankshares, Corp Non-GAAP Financial Measures (unaudited) (Dollars in thousands, except per share data) As of and For the Quarter Ended As of and For the Nine Months Ended Sep 30, Sep 30, 2023 2022 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Tangible Common Equity, Tangible Assets, Tangible Common Equity to Tangible Assets, and Tangible Book Value Per Share Total stockholders' equity (GAAP) Less: Goodwill Less: Core deposit intangible, net (A) $ 115,690 $ (18,660) (6,775) 107,231 (18,660) (8,557) $ 115,690 $ 114,364 $ 113,251 $ 110,554 $ 107,231 (18,660) (6,775) (18,660) (7,195) (18,660) (7,627) (18,660) (18,660) (8,081) (8,557) Tangible common equity (non-GAAP) (B) $ 90,255 $ 80,014 $ 90,255 $ 88,509 $ 86,964 $ 83,813 $ 80,014 Tangible common equity (non-GAAP) $ 90,255 $ 80,014 Less: Accumulated other comprehensive income (loss) (10,273) (8,746) $ 90,255 $ (10,273) 88,509 $ (9,074) 86,964 $ 83,813 $ 80,014 (7,754) (8,764) (8,746) Adjusted tangible common equity (non-GAAP) (C) $ 100,528 $ 88,760 $ 100,528 $ 97,583 $ 94,718 $ 92,577 $ 88,760 Total assets (GAAP) (D) $ 1,290,701 $ 1,211,300 Less: Goodwill Less: Core deposit intangible, net (18,660) (6,775) (18,660) (8,557) Tangible assets (non-GAAP) (E) $ 1,265,266 $ 1,184,083 $1,290,701 $1,301,834 $1,298,400 $1,245,212 $1,211,300 (18,660) (18,660) (18,660) (18,660) (18,660) (6,775) (7,195) (7,627) (8,081) (8,557) $1,265,266 $1,275,979 $1,272,113 $1,218,471 $1,184,083 Equity to assets (GAAP) (A/D) 8.96% 8.85% 8.96% 8.78% 8.72% 8.88% 8.85% Tangible common equity to tangible assets (non-GAAP) Adjusted tangible common equity to tangible assets (non-G (B/E) 7.13% 6.76% 7.13% 6.94% 6.84% 6.88% 6.76% (C/E) 7.95% 7.50% 7.95% 7.65% 7.45% 7.60% 7.50% Common shares outstanding (F) 11,729,066 11,671,815 11,729,066 11,738,902 11,683,691 11,672,362 11,671,815 Book value per share (GAAP) (A/F) $9.86 $9.19 $9.86 $9.74 $9.69 $9.47 $9.19 Tangible book value per share (non-GAAP) (B/F) $7.69 $6.86 $7.69 $7.54 $7.44 $7.18 $6.86 Adjusted tangible book value per share (non-GAAP) (C/F) $8.57 $7.60 $8.57 $8.31 $8.11 $7.93 $7.60 IN 25 25#26Non-GAAP Measures InBankshares, Corp Non-GAAP Financial Measures (unaudited) (Dollars in thousands, except per share data) As of and For the Quarter Ended As of and For the Nine Months Ended Sep 30, 2023 Sep 30, 2022 Sep 30, Jun 30, 2023 2023 Mar 31, 2023 Dec 31, Sep 30, 2022 2022 Pre-Provision, Pre-Tax Net Revenue (PPNR) Net income (GAAP) $ 8,218 $ 5,676 $ 2,479 $ 2,608 $ 3,131 $ 3,138 $ 3,128 Add: Provision for credit losses 426 1,327 50 83 293 900 525 Add: Income tax expense 2,328 1,560 695 755 878 743 776 Add: Merger and acquisition expense 2,063 451 1,014 Pre-provision, pre-tax net revenue (PPNR) (non-GAAP) $ 10,972 $ 10,626 $ 3,224 $ 3,446 $ 4,302 $ 5,232 $ 5,443 As of and For the Nine Months Ended Sep 30, 2023 Sep 30, 2022 Sep 30, 2023 As of and For the Quarter Ended Jun 30, Mar 31, 2023 2023 Dec 31, 2022 Sep 30, 2022 Return on Average Tangible Common Equity Net income (GAAP) Add: Intangible amortization (A) $ 8,218 $ 1,307 5,676 970 $ 2,479 $ 2,608 $ 3,131 $ 3,138 $ 3,128 421 Less: Tax effect on intangible amortization (at 21.0%) Tangible income to common stockholders (non-GAAP) (274) (204) (88) 431 (91) 455 475 475 (96) (100) (100) (B) (B) $ 9,251 $ 6,442 $ 2,812 $ 2,948 $ 3,490 $ 3,513 $ 3,503 Average stockholders equity (C) Less: Average intangible assets $ 114,596 $ (26,126) 93,280 (18,791) Average tangible common equity (non-GAAP) (D) $ 88,470 $ 74,489 $ $ 116,302 $ 114,857 $ 112,587 $ 109,125 $ 109,539 (25,695) (26,121) (26,571) (27,037) (27,517) 90,607 $ 88,736 $ 86,016 $ 82,088 $ 82,022 Return on average equity (A/C) Return on average tangible common equity (B/D) 9.59% 13.98% 8.14% 11.56% 8.46% 12.31% 9.11% 13.33% 11.28% 16.45% 11.41% 16.98% 11.33% 16.94% IN 26#27Non-GAAP Measures InBankshares, Corp Non-GAAP Financial Measures (unaudited) (Dollars in thousands, except per share data) As of and For the Nine Months Ended As of and For the Quarter Ended Sep 30, 2023 Sep 30, 2022 Sep 30, Jun 30, 2023 2023 Mar 31, 2023 Dec 31, Sep 30, 2022 2022 Core Efficiency Ratio and Core Noninterest Expense to Average Assets Noninterest expense (GAAP) (A) $ 26,152 $ 23,620 $ Add: Intangible amortization (1,307) (970) 8,905 $ (421) 8,691 $ (431) 8,556 $ (455) 9,377 $ 9,892 (475) (475) Less: Merger and acquisition expense (2,063) (451) (1,014) Adjusted noninterest expense (non-GAAP) (B) $ 24,845 $ 20,587 $ 8,484 $ 8,260 $ 8,101 $ 8,451 $ 8,403 Noninterest income (GAAP) $ 4,211 $ 2,945 $ 1,450 $ 1,368 $ 1,394 $ 1,360 $ 1,121 Less: (Gain) loss on sale of investment securities Adjusted noninterest income (non-GAAP) (C) $ 4,211 $ 2,945 $ 1,450 $ 1,368 $ 1,394 $ 1,360 $ 1,121 Net interest income (GAAP) (D) $ 32,913 $ 29,238 $ 10,679 $ 10,769 $ 11,464 $ 12,798 $ 13,200 Efficiency ratio Core efficiency ratio (non-GAAP) Average assets (A/(C+D)) (B/(C+D)) 70.44% 66.92% 73.39% 63.97% 73.42% 69.95% 71.61% 68.06% 66.54% 63.00% 66.23% 59.69% 69.07% 58.68% (E) $ 1,276,525 $ 1,022,289 $1,273,438 $1,287,299 $1,268,787 $1,231,642 $1,233,441 Noninterest income to average assets (C/E) 0.44% 0.39% 0.45% 0.43% 0.45% 0.44% 0.36% Noninterest expense to average assets (A/E) 2.74% 3.09% 2.77% 2.71% 2.73% 3.02% 3.18% Core noninterest expense to average assets (B/E) 2.60% 2.69% 2.64% 2.57% 2.59% 2.72% 2.70% As of and For the Nine Months Ended As of and For the Quarter Ended Sep 30, 2023 Sep 30, 2022 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Adjusted Return on Average Assets excluding M&A Net income (GAAP) (A) $ 8,218 $ 5,676 $ 2,479 $ 2,608 $ 3,131 3,138 $ 3,128 Add: Merger and acquisition expense 2,063 451 1,014 Less: Tax effect on merger and acquisition expense (at 21.0%) Adjusted income excluding M&A (B) $ 8,218 $ (433) 7,306 (95) (213) $ 2,479 $ 2,608 $ 3,131 $ 3,494 $ 3,929 Average assets (C) $ 1,276,525 $ 1,022,289 $1,273,438 $1,287,299 $1,268,787 $1,231,642 $1,233,441 Return on average assets (GAAP) (A/C) 0.86% 0.74% 0.77% 0.81% 1.00% 1.01% 1.01% Adjusted return on average assets excl. M&A (non-GAAP) (B/C) 0.86% 0.96% 0.77% 0.81% 1.00% 1.13% 1.26% IN 27