Commercial Bancgroup (CBK) investor relations material

Executive summary

• Completed IPO in late 2025, transitioning to a public company and raising $30.6 million in net proceeds, with stock trading on Nasdaq as of October 2, 2025.

• Delivered strong financial performance despite resource focus on IPO process.

• Management confident in strategy and ability to leverage public market opportunities for growth.

• Charter amended in September 2025, reclassifying stock and executing a 250-for-1 forward stock split.

• Net income less non-controlling interest was $9.5 million ($0.77 per diluted share) for Q3 2025, up from $9.2 million ($0.74 per diluted share) in Q3 2024.

Financial highlights

• Net income for first nine months of 2025: $27.1M ($2.22 per share), up from $25.8M ($2.09 per share) in the prior year period.

• Revenue for first nine months: $66.9M, up 1.9%; third quarter revenue: $22.9M, up 4.6% year-over-year.

• Expenses for first nine months: $31.9M, down eight basis points; third quarter expenses: $10.6M, up 1%.

• Non-interest income for the nine months was $7.3M, down 7.4% year-over-year due to one-time gains in 2024.

• Tangible book value per share: $19.05 as of September 30, 2025, up from $16.64 a year earlier.

Outlook and guidance

• Anticipates strong loan closing volume in Q4 2025, offsetting earlier payoffs and resulting in moderate full-year loan growth.

• Loan pipeline remains robust; expects positive year-end loan growth despite not meeting budget.

• Net interest margin holding above 4%, expected to remain stable even with potential Fed rate cuts.

• Management sees flexibility in balance sheet to adapt to changing rate environments.