Corporate Information Financial Information Market Data Market Value To: Bank Name Ticker City Assets ($MM) LTM ROAA (%) LTM ROATCE (%) NPAs / Assets (%) Market Cap ($MM) Div. Yield (%) Avg. Vol. (Actual) 52-Week Change (%) EPS - LTM (x) EPS - '24E (x) TBV (x) Heartland Financial USA Inc. HTLF Denver 20,130 1.05 19.5 0.27 1,605 3.1 164,117 (19.3) 7.9 8.1 1.43 National Bank Holdings Corp. NBHC Greenwood Village 9,866 1.30 16.3 0.37 1,395 2.9 178,509 (11.6) 11.3 11.2 1.78 FirstSun Capital Bancorp FSUN Denver 7,757 1.41 15.6 0.63 849 0.0 4,053 (6.7) NA NA 1.15 Alpine Banks of Colorado ALPI.B Glenwood Springs 6,468 1.02 16.2 0.11 475 2.7 1,679 (11.1) NA NA 0.59 First Western Financial Inc. MYFW Denver 3,003 0.50 6.8 1.85 190 0.0 18,326 (29.6) 13.9 13.4 0.88 InBankshares Corp INBC Greenwood Village 1,291 0.90 14.7 NA 94 0.0 2,184 1.8 8.2 NA 1.04 Solera National Bancorp Inc. SLRK Lakewood 1,171 1.63 29.3 0.56 43 0.0 1,661 (15.2) NA NA 0.66 High Country Bancorp Inc. HCBC Salida 448 1.01 11.6 0.34 36 5.8 346 (8.7) NA NA 0.96 CO Median 4,735 1.04 15.9 0.37 332 1.4 3,119 (11.3) 9.8 11.2 1.00 U.S. Median 1,516 0.98 13.4 0.26 121 2.6 3,439 (5.9) 9.7 11.0 1.16 Note: Market data as of December 29, 2023. Source: S&P Global. Publicly Traded Banks Summary Corporate, Financial, and Market Data – Sorted by Total Assets Source: S&P Global. Note: Market data as of December 29, 2023. Reflects all banks in Colorado publicly-traded on a major exchange or OTC, ranked by total assets. Colorado Bank M&A Briefing Bank Stock Market Performance Bank Index vs. S&P 500: January 1, 2023 – December 31, 2023 First Quarter 2024 (40.0%) (30.0%) (20.0%) (10.0%) 0.0% +10.0% +20.0% +30.0% Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Key: S&P 500 ∆ +24.7% NASDAQ Bank ∆ (5.9%) +24.7% (5.9%) INDEPENDENT REPORT | 29
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