FirstBank Growth and Efficiency

Reconciliation of non-GAAP financial measures (cont'd) Segment tax-equivalent core efficiency ratio (Dollars in thousands) 1H 2018 2017 2016 2015 2014 2013 Banking segment core efficiency ratio (tax equivalent) Core consolidated noninterest expense Less Mortgage segment noninterest expense (1) 110,590 202,399 178,183 134,755 99,163 89,584 38,492 77,346 84,191 46,094 21,730 18,326 Add impairment of mortgage servicing rights Add loss on sale of mortgage servicing rights Adjusted Banking segment noninterest expense Adjusted core revenue Less Mortgage segment noninterest income 4,678 194 249 4,447 72,098 125,302 103,117 88,855 77,433 71,258 173,576 300,704 252,410 184,339 134,138 118,834 42,013 90,196 92,209 51,472 22,177 18,698 Less change in fair value on mortgage servicing rights (3,491) (3,424) Adjusted Banking segment total revenue 135,054 213,932 160,201 Banking segment core efficiency ratio (tax-equivalent basis) 53.4% 58.6% 64.4% 132,867 66.9% $ 111,961 $ 69.2% 100,136 71.2% Mortgage segment core efficiency ratio (tax equivalent) Consolidated noninterest expense 112,454 222,317 Less impairment on mortgage servicing rights 194,790 4,678 138,492 $ 194 102,163 $ 89,584 Less loss on sale of mortgage servicing rights Less Banking segment noninterest expense (2) Adjusted Mortgage segment noninterest expense Total noninterest income Less Banking segment noninterest income 73,962 249 144,971 4,447 110,599 92,398 80,433 71,258 $ 38,492 $ 77,097 $ 75,066 45,900 21,730 $ 18,326 68,983 141,581 144,685 92,380 50,802 41,386 26,970 51,385 52,476 40,908 28,625 22,688 Less change in fair value on mortgage servicing rights (3,491) (3,424) Adjusted Mortgage segment total revenue $ 45,504 $ 93,620 $ 92,209 $ 51,472 $ 22,177 $ 18,698 Mortgage segment core efficiency ratio (tax-equivalent basis) 84.6% 82.4% 81.4% 89.2% 98.0% 98.0% 1 Includes mortgage segment Other noninterest mortgage banking expense, depreciation, loss on sale of mortgage servicing rights and amortization and impairment of mortgage servicing rights. 2 Includes banking segment Other noninterest expense, other noninterest mortgage banking expense, amortization of intangibles and depreciation and amortization. FB FirstBank 22 22

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