FirstBank Growth and Efficiency

Improving operating leverage remains a key objective Improving operating efficiency Consolidated 1H 2018 core efficiency ratio of 63.7% driven by Banking Segment core efficiency ratio of 53.4%, approaching our target level of sub-50% ■■■1H 2018 illustrates continued operating leverage achieved through organic growth, merger and ongoing cost efficiencies Core efficiency ratio (tax-equivalent basis)1 ■Banking Segment, declined 17.8 percentage points since 2013 ■Consolidated, declined 14.0 percentage points since 2012 Mortgage Segment 98.0% 98.0% 89.2% Total revenue at the consolidated level increased by over 80% the rate of total noninterest expense in 1H 2018 as compared to 1H 2017 Continued investments in revenue Banking Segment Core Efficiency Ratio¹ of 55.2% for 1Q 2018 and 51.7% for 2Q 2018 84.6% 81.4% 82.4% 77.7% 75.4% 73.9% 73.1% 71.2% 69.2% 70.6% 66.9% 67.3% 64.4% 63.7% 58.6% 53.4% producers, IT systems and back office personnel to build upon scalable platform Continue to refine mortgage banking with operational efficiency improvements 2012 2013 2014 2015 2016 2017 1H18 1 Non-GAAP financial measure. See "Use of non-GAAP financial measures," and "Reconciliation of non-GAAP financial measures" in the Appendix hereto. FB FirstBank 15

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