W T B Financial : First Quarter 2022

Summary Financial Statements and Selected Financial Highlights

Q1 2022

(unaudited)

W.T.B. Financial Corporation

Condensed Consolidated Statements of Financial Condition

ASSETS

Cash and due from banks Interest-bearing deposits with banks Securities available for sale, at fair value Securities held to maturity, at amortized cost

(unaudited)

Federal Home Loan Bank and Pacific Coast Bankers' Bancshares stock, at cost

Loans receivable Allowance for loan losses

Loans, net of allowance for loan losses

Premises and equipment, net

Accrued interest receivable Other assets

Total assets

LIABILITIES

Deposits: Noninterest-bearing

March 31, 2022

109,115,109

1,632,922,295

594,095,225

3,121,276,543

10,060,000 5,451,587,886 (140,903,957) 5,310,683,929

88,293,788 24,397,597 193,365,671 $ 11,084,210,157

$ 4,604,567,856

Interest-bearing 5,299,960,728

Total deposits

9,904,528,584

Securites sold under agreements to repurchase 235,649,386

Other borrowings 20,063,287

Accrued interest payable Other liabilities

Total liabilities

SHAREHOLDERS' EQUITY

806,798 94,982,263 10,256,030,318

Common stock 18,649,519

Surplus 32,665,000

Undivided profits 799,737,498 851,052,017

Accumulated other comprehensive loss, net of tax

Total shareholders' equity

Total liabilities and shareholders' equity

(22,872,178)

828,179,839 $ 11,084,210,157

December 31, 2021

March 31, 2021

$

62,283,161

1,987,135,451 961,600,455

538,718,995 1,598,637,100

2,787,035,395 1,504,211,439

10,060,000 5,536,075,557 (140,603,388) 5,395,472,169

88,114,622 90,427,202 23,678,316 29,602,279 197,069,385 106,399,169

$ 10,108,189,143
$	4,593,153,112	$ 4,247,011,643
5,297,117,374	4,756,448,805
9,890,270,486	9,003,460,448
239,510,563	226,729,135
20,063,287	-
662,208	485,076
106,115,618	100,946,386
10,256,622,162	9,331,621,045
19,262,049	24,585,386
32,665,000	32,665,000
783,617,442	723,348,285
835,544,491	780,598,671
(2,599,159)	(4,030,573)
832,945,332	776,568,098
$ 10,108,189,143

$ 11,089,567,494

$ 11,089,567,494

$ 114,331,868

10,060,000 5,832,079,142 (139,159,511) 5,692,919,631

W.T.B. Financial Corporation Condensed Consolidated Statements of Income

(unaudited)

INTEREST REVENUE

Loans, including fees Deposits with banks Securities

Other interest and dividend income

Total interest revenue

INTEREST EXPENSE

Deposits

Funds purchased and other borrowings

Total interest expense

Net interest revenue Provision for loan losses

Net interest revenue after provision for loan losses

NONINTEREST REVENUE

Fiduciary income Investment services fees Bank and credit card fees, net Mortgage banking revenue, net Other fees on loans

Service charges on deposits Other income

Total noninterest revenue

NONINTEREST EXPENSE

Salaries and benefits

Occupancy, furniture and equipment expense Other expense

Total noninterest expense

Income before provision for income taxes Provision for income taxes

NET INCOME

PER SHARE DATA

Weighted average number of common stock shares outstanding

Basic

Diluted

Earnings per common share (based on weighted average shares outstanding)

Basic

Three Months Ended

2,524,702 2,528,713

2,524,943 2,538,147

2,529,573 2,541,381

$ $

8.24 8.22

$ $

11.49 $ 8.14

Diluted

11.47 $ 8.13

W.T.B. Financial Corporation Selected Financial Highlights

(unaudited)

March 31, 2022

December 31, 2021

SELECTED DATA

Interest-bearing deposits with banks Securities

Total loans

Allowance for loan losses Earning assets 1

Total assets Deposits

Interest-bearing liabilities Total shareholders' equity Total equity to total assets Full-time equivalent employees

ASSET QUALITY RATIOS

Allowance for loan losses to total loans Allowance for loan losses to noncurrent loans Net charge-offs (recoveries) to total average loans Noncurrent loans and ORE to assets

Noncurrent loans, ORE and TDRs to assets

$

• 1,632,922 $

3,715,372

5,451,588

140,904

10,830,404

11,084,210

9,904,529

5,555,673

828,180

7.47%

1,104

2.58%

283%

-0.01%

0.45%

0.45%

(1) Includes only the amortized cost for securities. Includes non-accrual loans.

March 31, 2022

• 1,987,135 $

3,325,754

5,536,076

140,603

10,854,717

11,089,567

9,890,270

5,556,691

832,945

7.51%

1,092

2.54%

273%

-0.02%

0.46%

0.47%

(dollars in thousands, except per share data)

Quarters Ended

PERFORMANCE

Net interest revenue, fully tax-equivalent Fully tax-equivalent adjustment

Net interest revenue

Provision for loan losses

Net interest revenue after provision for loan losses Noninterest revenue

Noninterest expense

Income before provision for income taxes Provision for income taxes

Net income

PER COMMON SHARE

Earnings per common share - basic Earnings per common share - diluted Common cash dividends

Common shareholders' equity

PERFORMANCE RATIOS

$

69,949 46 69,903 -69,903 80,809

16,290 17,337

59,697 61,097

26,496 37,049

5,701 8,027

$

20,795

$

8.24 $ 11.49

8.22 11.47

1.85 3.85

325.76 328.11

March 31, 2022

Return on average assets 0.77%

Return on average shareholders' equity 10.11%

Margin on average earning assets 2 2.66%

Noninterest expense to average assets 2.21%

Noninterest revenue to average assets 0.60%

Efficiency ratio 69.2%

Common cash dividends to net income 22.48%

Quarters Ended
December 31,
2021
1.05%
13.89%
3.00%
2.21%
0.63%
62.2%
33.50%

$

December 31,	March 31,	Sequential	Year over
2021	2021	Quarter	Year
69,988	-13.5%	-0.1%
73	-19.3%	-37.0%
69,915	-13.5%	0.0%
6,000	NM	-100.0%
63,915	-13.5%	9.4%
17,281	-6.0%	-5.7%
54,709	-2.3%	9.1%
26,487	-28.5%	0.0%
5,825	-29.0%	-2.1%
20,662	-28.3%	0.6%
8.14	-28.3%	1.2%
8.13	-28.3%	1.1%
1.85	-51.9%	0.0%
303.84	-0.7%	7.2%
March 31,
2021
0.85%
10.48%
2.96%
2.26%
0.71%
62.7%
22.76%

80,866 57 80,809 -$

29,022

(2) Tax exempt interest has been adjusted to a taxable equivalent basis using a tax rate of 21%. NM = not meaningful

(dollars in thousands)

Quarters Ended

September 30, 2021

• 1,806,151 $

June 30, 2021

1,330,547 $

March 31, 2021

961,600

2,993,962

3,065,531 3,102,849

5,482,823

5,675,805 5,832,079

139,316

139,113

139,160

10,282,215

10,068,641 9,884,576

10,583,447

10,280,864 10,108,189

9,397,003

9,120,085 9,003,460

5,392,689

5,059,169 4,983,178

819,607

805,828 776,568

7.74%

7.84% 7.68%

1,101

1,100 1,087

2.54%

2.45% 2.39%

267%

257% 406%

0.00%

0.05% -0.01%

0.49%

0.53% 0.34%

0.50%

0.54% 0.35%

% Change

$

$

$

% Change

Sequential	Year over
Quarter	Year
-0.28%	-0.08%
-3.78%	-0.37%
-0.34%	-0.30%
0.00%	-0.05%
-0.03%	-0.11%
7.0%	6.5%
-11.02%	10.74%

W.T.B. Financial Corporation Selected Credit Performance Highlights

(unaudited)

Quarters Ended

March 31,	December 30,	March 31,
Loans by Credit Risk Rating:	2022	2021	2021
Pass	$	5,192,624,477	$ 5,251,410,269	$ 5,514,618,445
Special Mention	139,492,302	158,368,527	171,440,879
Substandard	119,466,651	126,288,810	145,978,235
Doubtful	4,456	7,951	41,583
Total	$	5,451,587,886	$ 5,536,075,557	$ 5,832,079,142
Quarters Ended
March 31,	December 30,	March 31,
Loans by Payment Status:	2022	2021	2021
Current Loans	$	5,389,174,662	$ 5,479,062,894	$ 5,797,432,118
Noncurrent Loans	49,717,527	51,476,560	34,301,852
Loans Past Due 30-89 Days, Still Accruing	12,695,697	5,536,103	345,172
Total	$	5,451,587,886	$ 5,536,075,557	$ 5,832,079,142
Quarters Ended
March 31,	December 30,	March 31,
Allowance for Loan Losses Position:	2022	2021	2021
Allowance for Loan Losses	$	140,903,957
Allowance to Total Loans	2.58%

$

140,603,388	$	139,159,511
2.54%	2.39%