FirstBank Growth and Efficiency

Reconciliation of non-GAAP financial measures (cont'd) Segment tax-equivalent core efficiency ratio 2018 (Dollars in Thousands) Banking segment core efficiency ratio (tax equivalent) Core consolidated noninterest expense Less Mortgage segment noninterest expense Add loss on sale of mortgage servicing rights Adjusted Banking segment noninterest expense Adjusted core revenue Less Mortgage segment noninterest income Second Quarter First Quarter $ 55,632 $ 54,958 19,582 18,910 36,050 36,048 89,624 83,952 21,650 20,363 Less change in fair value on mortgage servicing rights (1,778) (1,713) Adjusted Banking segment total revenue $ 69,752 $ 65,302 Banking segment core efficiency ratio (tax-equivalent basis) 51.7% 55.2% Mortgage segment core efficiency ratio (tax equivalent) Consolidated noninterest expense $ 56,303 $ 56,151 Less loss on sale of mortgage servicing rights Less Banking segment noninterest expense Adjusted Mortgage segment noninterest expense Total noninterest income Less Banking segment noninterest income 36,721 37,241 $ 19,582 $ 18,910 35,708 33,275 14,058 12,912 Less change in fair value on mortgage servicing rights (1,778) (1,713) Adjusted Mortgage segment total revenue $ Mortgage segment core efficiency ratio (tax-equivalent basis) 23,428 $ 83.6% 22,076 85.7% 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 24 14

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