EX-99.2 3 ssb-20220728xex99d2.htm EX-99.2
Exhibit 99.2

| Earnings Call 2Q 2022 July 29, 2022 Exhibit 99.2

| DISCLAIMER2Statementsincludedinthiscommunication,whicharenothistoricalinnatureareintendedtobe,andareherebyidentifiedas,forward-lookingstatementsforpurposesofthesafeharborprovidedbySection27AoftheSecuritiesActof1933andSection21EoftheSecuritiesExchangeActof1934.Forward-lookingstatementsarebasedon,amongotherthings,management’sbeliefs,assumptions,currentexpectations,estimatesandprojectionsaboutthefinancialservicesindustry,theeconomyandSouthState.Wordsandphrasessuchas“may,”“approximately,”“continue,”“should,”“expects,”“projects,”“anticipates,”“islikely,”“lookahead,”“lookforward,”“believes,”“will,”“intends,”“estimates,”“strategy,”“plan,”“could,”“potential,”“possible”andvariationsofsuchwordsandsimilarexpressionsareintendedtoidentifysuchforward-lookingstatements. SouthStatecautionsreadersthatforward-lookingstatementsaresubjecttocertainrisks,uncertaintiesandassumptionsthataredifficulttopredictwithregardto,amongotherthings,timing,extent,likelihoodanddegreeofoccurrence,whichcouldcauseactualresultstodiffermateriallyfromanticipatedresults.Suchrisks,uncertaintiesandassumptions,include,amongothers,thefollowing:(1)economicdownturnrisk,potentiallyresultingindeteriorationinthecreditmarkets,inflation,greaterthanexpectednoninterestexpenses,excessiveloanlossesandothernegativeconsequences,whichriskscouldbeexacerbatedbypotentialcontinuednegativeeconomicdevelopmentsresultingfromtheCovid19pandemic,orfromfederalspendingcutsand/oroneormorefederalbudget-relatedimpassesoractions;(2)interestrateriskprimarilyresultingfromtheinterestrateenvironment,risinginterestrates,andtheirimpactontheBank’searnings,includingfromthecorrespondentandmortgagedivisions,housingdemand,themarketvalueofthebank’sloanandsecuritiesportfolios,andthemarketvalueofSouthState’sequity;(3)risksrelatedtothemergerandintegrationofSouthStateandAtlanticCapitalincluding,amongothers,(i)theriskthatthecostsavingsandanyrevenuesynergiesfromthemergermaynotbefullyrealizedormaytakelongerthananticipatedtoberealized,(ii)theriskthattheintegrationofAtlanticCapital’soperationsintoSouthState’soperationswillbemateriallydelayedorwillbemorecostlyordifficultthanexpectedorthatthepartiesareotherwiseunabletosuccessfullyintegrateAtlanticCapital’sbusinessesintoSouthState’sbusinesses,(iii)theamountofthecosts,fees,expensesandchargesrelatedtothemerger,and(iv)reputationalriskandthereactionofeachcompany'scustomers,suppliers,employeesorotherbusinesspartnerstothemerger;(4)risksrelatingtothecontinuedimpactoftheCovid19pandemicontheCompany,includingpossibleimpacttotheCompanyanditsemployeesfromcontactingCovid19,andtoefficienciesandthecontrolenvironmentduetothechangingworkenvironmentandtoourresultsofoperationsduetogovernmentstimulusandotherinterventionstomitigatetheimpactofthepandemic;(5)theimpactofincreasingdigitizationofthebankingindustryandmovementofcustomerstoon-lineplatforms,andthepossibleimpactontheBank’sresultsofoperations,customerbase,expenses,suppliersandoperations;(6) controlsandproceduresrisk,includingthepotentialfailureorcircumventionofourcontrolsandproceduresorfailuretocomplywithregulationsrelatedtocontrolsandprocedures;(7)potentialdeteriorationinrealestatevalues;(8)theimpactofcompetitionwithotherfinancialinstitutions,includingpricingpressures(includingthoseresultingfromtheCARESAct)andtheresultingimpact,includingasaresultofcompressiontonetinterestmargin;(9)risksrelatingtotheabilitytoretainourcultureandattractandretainqualifiedpeople;(10)creditrisksassociatedwithanobligor’sfailuretomeetthetermsofanycontractwiththebankorotherwisefailtoperformasagreedunderthetermsofanyloan-relateddocument;(11)risksrelatedtotheabilityofthecompanytopursueitsstrategicplanswhichdependuponcertaingrowthgoalsinourlinesofbusiness;(12)liquidityriskaffectingtheBank’sabilitytomeetitsobligationswhentheycomedue;(13)risksassociatedwithananticipatedincreaseinSouthState’sinvestmentsecuritiesportfolio,includingrisksassociatedwithacquiringandholdinginvestmentsecuritiesorpotentiallydeterminingthattheamountofinvestmentsecuritiesSouthStatedesirestoacquirearenotavailableontermsacceptabletoSouthState;(14)priceriskfocusingonchangesinmarketfactorsthatmayaffectthevalueoftradedinstrumentsin“mark-to-market”portfolios;(15)transactionriskarisingfromproblemswithserviceorproductdelivery;(16)complianceriskinvolvingrisktoearningsorcapitalresultingfromviolationsofornonconformancewithlaws,rules,regulations,prescribedpractices,orethicalstandards;(17)regulatorychangeriskresultingfromnewlaws,rules,regulations,accountingprinciples,proscribedpracticesorethicalstandards,including,withoutlimitation,thepossibilitythatregulatoryagenciesmayrequirehigherlevelsofcapitalabovethecurrentregulatory-mandatedminimumsandincludingtheimpactoftheCARESAct,theConsumerFinancialProtectionBureauregulations,andthepossibilityofchangesinaccountingstandards,policies,principlesandpractices,includingchangesinaccountingprinciplesrelatingtoloanlossrecognition(CECL);(18)strategicriskresultingfromadversebusinessdecisionsorimproperimplementationofbusinessdecisions;(19)reputationriskthatadverselyaffectsearningsorcapitalarisingfromnegativepublicopinion; (20)cybersecurityriskrelatedtothedependenceofSouthStateoninternalcomputersystemsandthetechnologyofoutsideserviceproviders,aswellasthepotentialimpactsofinternalorexternalsecuritybreaches,whichmaysubjectthecompanytopotentialbusinessdisruptionsorfinanciallossesresultingfromdeliberateattacksorunintentionalevents;(21)reputationalandoperationalrisksassociatedwithenvironment,socialandgovernance(ESG)matters,includingtheimpactofrecentlyissuedproposedregulatoryguidanceandregulationrelatingtoclimatechange;(22)greaterthanexpectednoninterestexpenses;(23)excessiveloanlosses;(24)potentialdepositattrition,higherthanexpectedcosts,customerlossandbusinessdisruptionassociatedwiththeAtlanticCapitalintegration,andpotentialdifficultiesinmaintainingrelationshipswithkeypersonnel;(25)reputationalriskandpossiblehigherthanestimatedreducedrevenuefromannouncedchangesintheBank’sconsumeroverdraftprograms;(26)therisksoffluctuationsinmarketpricesforSouthStatecommonstockthatmayormaynotreflecteconomicconditionorperformanceofSouthState;(27)thepaymentofdividendsonSouthStatecommonstock,whichissubjecttolegalandregulatorylimitationsaswellasthediscretionoftheboardofdirectorsofSouthState,SouthState’sperformanceandotherfactors;(28)ownershipdilutionriskassociatedwithpotentialacquisitionsinwhichSouthState’sstockmaybeissuedasconsiderationforanacquiredcompany;(29)operational,technological,cultural,regulatory,legal,creditandotherrisksassociatedwiththeexploration,consummationandintegrationofpotentialfutureacquisitions,whetherinvolvingstockorcashconsideration;(30)majorcatastrophessuchashurricanes,tornados,earthquakes,floodsorothernaturalorhumandisasters,includinginfectiousdiseaseoutbreaks,suchastheongoingCovid19pandemic,andtherelateddisruptiontolocal,regionalandglobaleconomicactivityandfinancialmarkets,andtheimpactthatanyoftheforegoingmayhaveonSouthStateanditscustomersandotherconstituencies;(31)terroristactivitiesriskthatresultsinlossofconsumerconfidenceandeconomicdisruptions;and(32)otherfactorsthatmayaffectfutureresultsofSouthState,asdisclosedinSouthState’sAnnualReportonForm10-K,QuarterlyReportsonForm10-Q,andCurrentReportsonForm8-K,filedbySouthStatewiththeU.S. SecuritiesandExchangeCommission(“SEC”)andavailableontheSEC’swebsiteathttp://www.sec.gov,anyofwhichcouldcauseactualresultstodiffermateriallyfromfutureresultsexpressed,impliedorotherwiseanticipatedbysuchforward-lookingstatements. Allforward-lookingstatementsspeakonlyasofthedatetheyaremadeandarebasedoninformationavailableatthattime.SouthStatedoesnotundertakeanyobligationtoupdateorotherwisereviseanyforward-lookingstatements,whetherasaresultofnewinformation,futureevents,orotherwise,exceptasrequiredbyfederalsecuritieslaws.Asforward-lookingstatementsinvolvesignificantrisksanduncertainties,cautionshouldbeexercisedagainstplacingunduerelianceonsuchstatements.

| $39Billion in deposits $28Billion in loans $46Billion in assets $6.3Billion market cap(1)FinancialmetricsasofJune30,2022;marketcapasofJuly27,2022SouthState CorporationOverview of Franchise (1)3 (283) #1 in Florida#3 in South CarolinaTop 30Forbes 100 Best Banks in America 2022 Ranked #30by S&P Global “Best Places to Work” designation in South Carolina 16 Greenwich Excellence and Best Brand awards from Coalition Greenwich

| Local MarketLeadershipOur business model supports the unique character of the communities we serve and encourages decision making by the banker that is closest to the customer.Long-TermHorizonWe think and act like owners and measure success over entire economic cycles. We prioritize soundness before short-term profitability and growth.RemarkableExperiencesWe will make our customers’ lives better by anticipating their needs and responding with a sense of urgency. Each of us has the freedom, authority and responsibility to do the right thing for our customers.Meaningful and LastingRelationshipsWe communicate with candor and transparency. The relationship is more valuable than the transaction.Greater PurposeWe enable our team members to pursue their ultimate purpose in life—their personal faith, their family, their service to community.The WHATThe HOW Guiding PrinciplesCore Values Leadership The WHY To invest in the entrepreneurial spirit, pursue excellence and inspire a greater purpose.4

| 16.9%12.6%12.2%11.1%8.9%8.3%5.8%FLSCGANCVAU.S.ALActual Population Growth 2010-2022 $9.5B$12.6B$1.5B$2.0B$6.3B$11.0B$0.7B$0.5B$5.6B$7.4B $2.4B$2.2B LoansDepositsPOSITIONED FOR THE FUTURE IN THE BEST GROWTH MARKETS IN AMERICA 5 $262$287$623$697$726$1,304ALSCVANCGAFLGDP by State($ in billions) 4.6%4.4%4.2%3.5%3.2%3.1%2.8%FLGAALVAU.S.SCNCProjected Population Growth 2022-2027 $3.1$3.2$3.9$4.2$4.9$17.7$23.0IndiaUKSSB FootprintGermanyJapanChinaUSGDP ($ in trillions) The combined GDP of SouthState’s 6 state branch footprint would represent the world’s fifth largest economy. Population increase (in millions)3.2 0.6 1.2 1.1 0.7 25.5 0.31.0 0.5 0.2 0.3 10.7 0.20.3 Loans and deposits as of 6/30/22; excludes $2.0B of loans and $3.2B of deposits from internal accounts and national lines of businessCountry GDP as of 2021; State GDP as of 1Q22Sources: S&P Global, World Bank, US Bureau of Economic AnalysisPopulation increase (in millions)

| PANDEMIC ACCELERATES POPULATION MIGRATION TO THE SOUTH6U.S. Net Domestic Migration During Covid, July 2020 to July 2021 Source: U.S. Census Bureau6

| INVESTMENT THESIS7 •High growth markets•Low-cost core deposit base•Diversified revenue streams •Strong credit quality and disciplined underwriting •Energetic and experienced management team with entrepreneurial ownership culture •True alternative to the largest banks with capital markets platform and upgraded technology solutions

| Quarterly Results

| HIGHLIGHTS | LINKED QUARTER Dollars in millions, except per share data(1)For end note descriptions, see Earnings Presentation End Notes starting on slide 449 1Q222Q22GAAPNet Income$ 100.3 $ 119.2 EPS (Diluted)$ 1.39 $ 1.57 Return on AverageAssets 0.95 % 1.04 %Non-GAAP(1)Return on AverageTangible Common Equity 13.97 % 16.59 %Non-GAAP,Adjusted(1)Net Income$ 121.9 $ 123.4 EPS (Diluted)$ 1.69 $ 1.62 Return on AverageAssets 1.15 % 1.08 %Return on AverageTangible Common Equity 16.79 % 17.15 %

| QUARTERLY HIGHLIGHTS | 2Q 2022 (1) & (2) For end note descriptions, see Earnings Presentation End Notes starting on slide 44(3)ExcludingACBIacquisitiondatebalances10•Reported & adjusted diluted Earnings per Share (“EPS”)(1)of $1.57 and $1.62, respectively•Pre-Provision Net Revenue (“PPNR”)(non-GAAP)(2)of $176.8 million, or 1.55% PPNR ROAA(2)•PPNR per diluted share (non-GAAP)(2)of $2.32, up 29.6% from the prior quarter’s $1.79 and up 45.9% from $1.59 one year ago•Loans, excluding PPP loans, increased $1.5 billion, or 22.0% annualized from prior quarter; increased 12.3%(3)over the last year•15.8% revenue growth with 3.4% expense growth generated 12.4% operating leverage in the quarter •Adjusted efficiency ratio (non-GAAP)(1)improved to 53.6% from prior quarter’s 60.1%•Net charge-offs of $2.3 million, or 0.03% annualized; provision for credit losses of $19.3 million

| PPNR PER DILUTED SHARE(1) $1.59 $1.87 $1.89 $1.79 $2.32 $1.50 $2.00 $2.502Q213Q214Q211Q222Q22 (1)For end note descriptions, Earnings Presentation End Notes starting on slide 4411

| NET INTEREST MARGIN(1) $232.6 $238.4 $244.7 $253.8 $301.5 $20.5 $21.6 $13.4 $7.7 $12.8 $253.1 $260.0 $258.1 $261.5 $314.3 2.87% 2.86% 2.78% 2.77% 3.12%2.5%2.8%3.0%3.3%3.5% $100 $150 $200 $250 $300 $3502Q213Q214Q211Q222Q22$ in millions Net Interest Income excld. Accretion AccretionNet Interest Income Net Interest Margin 35 bps quarterly improvement in Net Interest Margin Dollarsinmillions(1)For end note descriptions, see Earnings Presentation End Notes starting on slide 44(2)Accretion includes PPP loans deferred fees and loan discount accretion(3)Tax equivalent12 (2)(2)(3)

| LOAN PRODUCTION VS LOAN GROWTH $1,256 $1,791 $1,933 $2,079 $1,699 $1,470 $1,535 $1,879 $1,834 $2,355 $2,636 $3,129 $2,582 $3,863 $180 $82 $267 $153 $180 $(372)$(277)$(155)$(185)$169 $573 $396 $381 $1,451 -$500$0$500$1,000$1,500$2,000 $2,500 $3,000$3,500$4,0001Q192Q193Q194Q191Q202Q203Q204Q201Q212Q213Q214Q211Q222Q22$ in millions Loan Production Loan Portfolio Growth Dollarsinmillions(1)1Q22&2Q22loanproductionexcludesproductionbylegacyACBI;1Q22loanportfoliogrowthexcludesacquisitiondateloanbalancesacquiredfromACBI(2)1Q19loanproductionexcludesproductionfromNationalBankofCommerce(“NBC”);NationalCommerceCorporation,theholdingcompanyofNBC,wasacquiredbyCenterStatein2Q2019(3)ExcludesloansheldforsaleandPPP;loanproductionindicatescommittedbalancetotal;loanportfoliogrowthindicatesquarter-over-quarterloanendingbalancegrowth,excludingloansheldforsaleandPPP(4)Forendnotedescriptions,seeEarningsPresentationEndNotesstartingonslide4413(1)(1)(1)(2)(4)(4)(4)(4)(4)(4)(3)(3)

| QTD Production ($mm)$1,404$1,271$1,443 Refinance28%30%11% Purchase72%70%89%MORTGAGE BANKING DIVISION (1)Includes pipeline, LHFS and MBS forwards14 Highlights Quarterly Mortgage Production Gain on Sale Margin•Mortgage banking income of $5.5 million in 2Q 2022 compared to $10.6 million in 1Q 2022•Secondary pipeline at 2Q 2022 of $126 million, as compared to $260million at 1Q 2022 2.85%3.13%2.83%2.87%2.13%2Q213Q214Q211Q222Q22 Mortgage Banking Income ($mm) 73%27%2Q22 43%57%2Q21 Portfolio Secondary 53%47%1Q22 2Q211Q222Q22 Secondary Market Gain on Sale, net $ 20,544 $ 14,381 $ 6,419 Fair Value Change(1) (11,295) (6,383) (1,957) Total Secondary Market Mortgage Income $ 9,249 $ 7,998 $ 4,462 MSR Servicing Fee Income $ 3,544 $ 3,837 $ 4,076 Fair Value Change / Decay (2,678) (1,241) (3,058) Total MSR-Related Income $ 866 $ 2,596 $ 1,018 Total Mortgage Banking Income $ 10,115 $ 10,594 $ 5,480

| Cumulative ConsumerR/E Loan Growth ($)$(12)$(98)$(264)$(486)$(625)$(712)$(727)$(653)$(535)$(18)($300)($150)$0$150$300$450$600 $(12)$(86)$(167)$(221)$(139)$(87)$(15)$73 $119 $517 3.63%3.46%3.25%3.04%3.08%3.00%3.04%3.25%4.25%5.54%3.07%4.49%4.11%4.56%4.33%2.85%3.13%2.83%2.87%2.13% -% 3.0% 6.0% $(300) $(100) $100 $300 $500 $7001Q202Q203Q204Q201Q212Q213Q214Q211Q222Q22$ in millions Consumer R/E Loan Growth ($) 30-yr Fixed Mortgage Rate GOS Margin RESIDENTIAL MORTGAGE PORTFOLIO GAIN ON SALE (“GOS”) MARGIN AND INTEREST RATES Dollarsinmillions(1)&(2)Forendnotedescriptions,seeEarningsPresentationEndNotesstartingonslide4415(1)(2)(2)

| •Provides capital markets hedging (ARC), fixed income sales, international, clearing and other services to over 1,000 financial institutions across the country CORRESPONDENT BANKING DIVISION1,172 Financial Institution Clients16 $25.9 $25.2 $30.2 $28.0 $27.6 $0.0$5.0$10.0$15.0$20.0$25.0$30.0$35.0 $- $5 $10 $15 $20 $25 $30 $352Q213Q214Q211Q222Q22$ in millionsCorrespondent Revenue Breakout ARC Revenues FI Revenues Operational RevenuesTotal Revenue

| Interest Rate Sensitivity

| Noninterest-bearing Checking$14.3BInterest-bearing Checking$9.0BSavings$3.6BMoney Market$9.3BTime Deposits$2.7B 37%34%29%Checking Accounts CompositionCommercialSmall BusinessRetail Data as of June 30, 2022Dollars in billions except for average checking balances† Core deposits defined as non-time deposits(1) Source: S&P Global Market Intelligence; 2Q22 MRQs available as of July 28, 2022; Peers as disclosed in the most recent SSB proxy statement 60%43%33%50%7%7%0%20%40% 60% 80%100%SSBPeer Average (1)Deposit Mix vs. Peers Checking Accounts MM & Savings Time DepositsPREMIUM CORE†DEPOSIT FRANCHISE18Total Deposits$38.9 BillionDeposits by Type•Total cost of deposits for 2Q22: 6 bps•~ 837 thousand checking accounts / ~1.2 million total deposit accounts Checking TypeAvg. Checking BalanceCommercial$303,100Small Business$56,500Retail$11,800

| INTEREST RATE RISK PROFILE 1.2%2.4%4.7%9.0%0%1%2%3%4% 5%6% 7%8%9%10%Up 25 bpsUp 50 bpsUp 100 bpsUp 200 bpsPercentage Change in Net Interest IncomeInstantaneous Shock/Static Balance Sheet(1)19 51%51%31%41%18%8%0%10%20%30% 40%50%60% Variable Equals 1 Month or Less Variable Equals 12 Months or LessLoan Repricing Frequency (excluding PPP) Fixed Variable Adjustable (1)Denotes percentage change in net interest income from the base case scenario that reflects the consensus forecast published mid-July 2022. The consensus forecast projects yield curve inversion. Interest rate shocks are applied to consensus forecast. Deposit betas have been accelerated to reflect sensitivities from June 30, 2022. During Q2 2022, deposit costs increased one basis point since the Federal Reserve began raising rates in March 2022.19

| WELL-POSITIONED FOR HIGHER RATES –HISTORICAL DEPOSIT BETA(1) 0.16%0.37%0.37%0.40%0.45%0.70%0.95%1.16%1.20%1.45%1.74%1.92%2.22%2.40%2.40%1.58%1.37%1.24%1.12%1.61%1.94%1.80%1.81%2.07%2.53%2.76%2.80%2.88%2.47%2.12% 0.12% 0.12% 0.11% 0.11% 0.12% 0.13% 0.15% 0.17% 0.19% 0.25% 0.34% 0.44% 0.52% 0.56% 0.64%0.0%0.5%1.0% 1.5%2.0%2.5%3.0%4Q151Q162Q163Q164Q161Q172Q173Q174Q171Q182Q183Q184Q181Q192Q19 (1)Forendnotedescriptions,seeEarningsPresentationEndNotesstartingonslide44HistoricdepositbetaexcludeslegacyACBI.20 24% total deposit beta from 4Q15 –2Q19Avg. Fed Funds RateAvg. 5-YR USTCost of Deposits

| Balance Sheet

| LOAN AND DEPOSIT TRENDS $22.7 $23.3 $23.7 $26.4 $27.9 $1.3 $0.5 $0.2 $0.1 $24.0B $23.8B $23.9B $26.6B $27.9B $21.0B $22.0B $23.0B $24.0B $25.0B $26.0B $27.0B $28.0B $29.0B $- $6 $12 $18 $24 $302Q213Q214Q211Q222Q22$ in billionsLoans(1) Total Loans PPP Dollarsinbillions(1)Excludesloansheldforsale22 $11.2 $11.4 $11.5 $14.1 $14.3 $7.7 $7.9 $9.0 $9.3 $9.0 $11.0 $11.3 $11.8 $12.6 $12.9 $3.3 $3.0 $2.8 $2.8 $2.7 $33.2B $33.6B $35.1B $38.8B $38.9B $- $50,000,000.0B $100,000,000.0B $150,000,000.0B $200,000,000.0B $250,000,000.0B $300,000,000.0B $350,000,000.0B $- $6 $12 $18 $24 $30 $36 $422Q213Q214Q211Q222Q22$ in billionsDeposits Noninterest-bearing Checking Interest-bearing Checking MMA & Savings Time Deposits

| Investor CRE (2)30%Owner-Occupied CRE19%C&I17%Consumer RE20%Cons / Other5%CDL (1)9%TOTAL LOAN PORTFOLIO23 Data as of June 30, 2022Loan portfolio balances, average balances or percentage exclude loans held for sale and PPP loans(1) CDL includes residential construction, commercial construction, and all land development loans (2) Investor CRE includes nonowner-occupied CRE and other income producing property(3) Excludes SELF loans acquired from ACBI Loan TypeNo. of LoansBalanceAvg. Loan BalanceConstr., Dev. & Land5,547$2.5B$455,500Investor CRE9,0978.4B922,800Owner-Occupied CRE8,2885.4B654,100C & I18,6244.8B255,000Consumer RE39,2235.5B140,400Cons / Other(3)46,6031.1B22,700Total(3)127,382$27.7B$217,100 Loan RelationshipsTop 10Represents ~ 2% of total loansTop 20Represents ~ 3% of total loansLoans by TypeTotal Loans$27.9 Billion

| ASSET QUALITY METRICS 0.03%0.00%0.02%0.04%0.03% -% 0.05% 0.10% 0.15% 0.20% 0.25%2Q213Q214Q211Q222Q22Net Charge-Offsto Loans Dollarsinmillions(1)ExcludesloansheldforsaleandPPPloans 2.92%2.65%2.11%2.03%1.76%1.68%1.48%1.02%0.97%0.80% 1.24%1.17%1.09%1.06%0.96%0%1% 2%3%4%2Q213Q214Q211Q222Q22Criticized & Classified Asset Trends Combined Special Mention / Assets Substandard / Assets 0.38%0.40%0.35%0.44%0.33% 0.0% 0.3% 0.5% 0.8% 1.0%2Q213Q214Q211Q222Q22Nonperforming Assets to Loans & OREO24

| 41%29%24%5%1%0.4%Municipal Bond Rating AAA AA+ AA AA- A+ A Dollars in billionsData as of June 30, 2022† Investment portfolio excludes non-marketable equity(1)MBS issued by U.S. government agencies or sponsored enterprises (commercial and residential collateral)(2)Investment securities yield include non-marketable equity and trading securities(3)Excludes principal receivable balance as of June 30, 2022 1.49%1.51%1.53%1.75%2.03% 1.0% 1.6% 2.2%2Q213Q214Q211Q222Q22Investment Securities Yield (2)HIGH QUALITY INVESTMENT PORTFOLIO 73%13%8%6%Investment Portfolio†Composition Agency MBS(1) Municipal Treasury & agency Other TypeAFS HTM BalanceDuration (yrs)(3)BalanceDuration (yrs)Agency MBS(1) $3.6B5.2$2.5B5.8Municipal$1.1B9.1--Treasury & agency$0.5B2.5$0.2B5.8Other $0.5B3.8$0.1B6.3Total$5.7B5.6$2.8B5.825Total InvestmentPortfolio†$8.5 Billion•93% of municipal portfolio is AA or higher rated

| CAPITAL RATIOS 1Q222Q22(2) Tangible Common Equity (1) 7.0 % 6.8 % Tier 1 Leverage 8.5 % 8.0 % Tier 1 Common Equity 11.4 % 11.1 % Tier 1 Risk- Based Capital 11.4 % 11.1 % Total Risk- Based Capital 13.3 % 13.0 % Bank CRE Concentration Ratio 243 % 248 % Bank CDL Concentration Ratio 57 % 61 % (1)Forendnotedescriptions,seeEarningsPresentationEndNotesstartingonslide44(2)Preliminary26

| Appendix

| BRANCH OPTIMIZATION 85 BranchesAverage Size $40M 422 Branches Acquired Plus12 DeNovo Branches 236 Branches Consolidated or Sold 283 BranchesAverage Size $137M ~ 243% growth in deposits per branch 854342362832009 …..……………..………..……....…………………………….. 2Q 202228 283 Branches 2Q22 30 Branches to be Consolidated 253 Branches 3Q22Planned 3rdQuarter 2022 Activity

| TECHNOLOGY | DIGITAL292020-2022 Foundation System Conversion CompleteTech Stack with Best-in-Class SystemsTalent retained and in place for next phaseFuture•Strategic Talent Adds•Efficiency, Capacity, Automation•Data Analytics•Money Movement•Digital First *Mobile Deposits, ATM & RDC Target:Digital Only Sales 2Q2022 Best in Class Deposit Accounts22%~ 50%Consumer Loans16%~ 50%SBA 7A12% Mortgage Loans 5% Digital Deposits* 32% ~ 80%

| $39.13 $41.16 $44.62 $39.47$1.88 $3.80 $4.78 $0.45 $2.54 $4.04 $39.13 $43.49 $50.96 $48.29 2019202020212Q22 Tangible Book Value per Share ("TBVPS") Cumulative Dividends Cumulative Repurchases per ShareChange in AOCI per Share $0.77 $0.66 $(0.99)$(6.21) $(8.00) $(4.00) $- $4.00 $8.00 $12.00 $16.00 $20.00 $24.00 $28.00 $32.00 $36.00 $40.00 $44.00 $48.00 $52.00 $56.00 $60.00 $64.00 $68.00TANGIBLE BOOK VALUE PER SHARE(1) PLUS CAPITAL RETURN PER SHARE (1)For end note descriptions, see Earnings Presentation End Notes starting on slide 4430

| CAPITAL RETURN TO SHAREHOLDERS $33.3$34.3$34.2$33.9$37.0$60.2 $36.0 $50.2 $86.5 $23.7 $93.5 $70.3 $84.4 $120.4 $60.7 $-$0$40$80$120 $1602Q213Q214Q211Q222Q22$ in millions Dividends Equity Repurchases31 Dollars in millions(1)YTD repurchases of outstanding shares based on outstanding shares as of July 22, 2022(2)Dividend yield based on stock price as of July 27, 2022•Returned $181.1 million to shareholders through YTD 2022 share repurchases and dividends•1.3 million shares repurchased YTD represents 1.7%(1)of outstanding shares •Annualized dividend of $2.00 represents an attractive dividend yield of 2.4%(2)•Remaining repurchase authorization of 4.12 million shares31

| CURRENT & HISTORICAL 5-QTR PERFORMANCE(1) 76%75%74%76%78%24%25%26%24%22% $332M $347M $350M $348M $403M 2.93%0.0%0.6%1.2% 1.8%2.4%3.0% 3.6% 0% 20% 40% 60% 80% 100% 120%2Q213Q214Q211Q222Q22Revenue Composition Noninterest Income / RevenueTotal Revenue ($MM) Avg. 10-year UST Total Revenue Dollarsinmillions(1)Forendnotedescriptions,seeEarningsPresentationEndNotesstartingonslide44(2)Annualized $79 $87 $92 $86 $88 0.80%0.85%0.88%0.81%0.77%0.5%0.6% 0.7%0.8%0.9% 1.0% $- $20 $40 $60 $80 $100 $120 $1402Q213Q214Q211Q222Q22$ in millionsNoninterest Income Noninterest Income Noninterest Income / Avg. Assets 2.87%2.86%2.78%2.77%3.12%2.0%2.5%3.0%3.5% $200 $250 $300 $3502Q213Q214Q211Q222Q22$ in millionsNet Interest Margin (“NIM”) NIM ($) NIM (%) 76%64%61%63%55%63%59%59%60%54% 0% 15% 30% 45% 60% 75% 90%2Q213Q214Q211Q222Q22Efficiency Ratio Efficiency Ratio Adjusted Efficiency Ratio32(2)

| LOSS ABSORPTION CAPACITY | 2Q 2022 2Q22% of Total Loans(1)Allowance for Credit Losses (“ACL”) Non-PCD ACL$257.4PCD ACL62.3Total ACL$319.71.15%Reserve for Unfunded Commitments Reserve for unfunded commitments32.50.12%Total ACL plus Reserve for Unfunded Commitments$352.31.27%Unrecognized Discount –Acquired Loans (2)89.00.32%Loss Absorption Capacity$441.31.58%Total Loans Held for Investment (1)$27,888 Dollars in millions(1)Excludes PPP loans and loan held for sale(2)Includes mark on loans from ACBI and prior SSB acquisitionsTotals shown above may not foot due to rounding33

| SIGNIFICANT PURCHASE ACCOUNTING MARKS(1) Loan Balance (2)% of TotalCredit MarkInterest MarkTotal MarkNonPCD Loans~$2.3B94%~$20.3mm~0.9%~$14.3mm~0.6%~$34.6mm~1.5%PCD Loans~$0.1B6%~$13.8mm~10.0%~$5.9mm~4.3%~$19.7mm~14.3%Total$2.4B$34.0mm~1.4%$20.3mm~0.8%$54.3mm~2.2% Dollars in millions, unless otherwise noted(1)Loan marks are preliminary and are subject to changes upon finalization(2)Excludes LHFS34−~$13.8 million credit mark on PCD loans (~10.0%); total interest discount of ~$5.9 million to be amortized into interest income over time−NonPCD credit mark of ~$20.3 million and total interest discount of ~$14.3 million totaling ~$34.6 million to be amortized into interest income over time−Day 2 entries include a provision for credit losses for NonPCD loans and UFC of ~$17.1 million•Core Deposit Intangible: ~$17.5 million (~0.63% of core deposits)

| EXCESS LIQUIDITY PROVIDES SIGNIFICANT TAILWIND (1)Source:S&PGlobalMarketIntelligence;PeersasdisclosedinthemostrecentSSBproxystatement;The2Q22averagesarebasedonMRQsavailableasofJuly28,2022*Thecombinedhistoricalinformationreferredtointhispresentationasthe“CombinedBusinessBasis”presentedisbasedonthereportedGAAPresultsoftheCompanyandCenterStatefortheapplicableperiodswithoutadjustmentsandtheinformationincludedinthisreleasehasnotbeenpreparedinaccordancewithArticle11ofRegulationS-X,andthereforedoesnotreflectanyoftheproformaadjustmentsthatwouldberequiredthereby.AllCombinedBusinessBasisfinancialinformationshouldbereviewedinconnectionthehistoricalinformationoftheCompanyandCenterState,asapplicable,includedintheAppendixtothispresentation.ThecombinedhistoricalinformationexcludesACBI.35 1.8% 5.8% 10.6% 10.9% 11.2% 14.1% 14.6% 13.9% 15.2% 11.8% 9.0% 12.4% 12.4% 8.7% 9.9% 11.8% 13.3% 14.2% 15.7% 17.1% 19.3% 18.7%3.0%3.2%5.5%5.5%7.4%8.8%9.7%10.5%10.9%8.3%5.6%18.6%18.8%17.9%18.4%18.6%19.3%20.3%21.0%21.5%22.6%21.2%-1.0%3.0%7.0%11.0%15.0%19.0%23.0%-1%4%9%14% 19% 24%4Q19*1Q20*2Q20*3Q204Q201Q212Q213Q214Q211Q222Q22 Fed Funds & Interest Earning Cash / Assets Investments / Assets Peer Avg. - Fed Funds & Interest Earning Cash / Assets (1) Peer Avg. - Investments / Assets (1)

| NON-GAAP RECONCILIATIONS –RETURN ON AVG. TANGIBLE COMMON EQUITY & PPNR RETURN ON AVG. ASSETS DollarsinthousandsThetangiblemeasuresarenon-GAAPmeasuresandexcludetheeffectofperiodendoraveragebalanceofintangibleassets;thetangiblereturnsonequityandcommonequitymeasuresalsoaddbacktheafter-taxamortizationofintangiblestoGAAPbasisnetincome.36 Return on Average Tangible Equity1Q222Q22Net income (GAAP)100,329$ 119,175$ Plus:Amortization of intangibles8,494 8,847 Effective tax rate, excluding DTA write-off21% 22% Amortization of intangibles, net of tax6,688 6,931 Net income plus after-tax amortization of intangibles (non-GAAP)107,017$ 126,106$ Average shareholders common equity, excluding preferred stock4,937,165$ 5,109,325$ Less:Average intangible assets1,831,2502,060,537Average tangible common equity3,105,915$ 3,048,788$ Return on Average Tangible Common Equity (Non-GAAP)14.0%16.6%PPNR Return on Average Assets 1Q222Q22PPNR, Adjusted (Non-GAAP)129,240$ 176,792$ Average assets 42,946,332 45,847,789 PPNR ROAA1.22%1.55%

| NON-GAAP RECONCILIATIONS –ADJUSTED NET INCOME & ADJUSTED EARNINGS PER SHARE (“EPS”) Dollarsinthousands,exceptforpersharedata37 Adjusted Net Income1Q222Q22Net income (GAAP)100,329$ 119,175$ Plus:Initial provision for credit losses - NonPCD loans and UFC from the ACBI merger, net of tax13,492 - Merger and branch consolidation related expense, net of tax8,092 4,223 Adjusted Net Income (Non-GAAP)121,913$ 123,398$ Adjusted EPS 1Q222Q22Diluted weighted-average common shares72,111 76,094 Adjusted net income (non-GAAP)121,913$ 123,398$ Adjusted EPS, Diluted (Non-GAAP)1.69$ 1.62$

| NON-GAAP RECONCILIATIONS –ADJUSTED RETURN ON AVG. ASSETS & AVG. TANGIBLE COMMON EQUITY DollarsinthousandsThetangiblemeasuresarenon-GAAPmeasuresandexcludetheeffectofperiodendoraveragebalanceofintangibleassets;thetangiblereturnsonequityandcommonequitymeasuresalsoaddbacktheafter-taxamortizationofintangiblestoGAAPbasisnetincome.38Dollars in thousands, except for per share data Adjusted Return on Average Assets1Q222Q22Adjusted net income (non-GAAP)121,913$ 123,398$ Total average assets42,946,332 45,847,789 Adjusted Return on Average Assets (Non-GAAP)1.15%1.08%Adjusted Return on Average Tangible Common Equity1Q222Q22Adjusted net income (non-GAAP)121,913$ 123,398$ Plus:Amortization of intangibles, net of tax6,688 6,931 Adjusted net income plus after-tax amortization of intangibles (non-GAAP)128,601$ 130,329$ Average tangible common equity3,105,915$ 3,048,788$ Adjusted Return on Average Tangible Common Equity (Non-GAAP)16.79%17.15%

| NON-GAAP RECONCILIATIONS –NET INTEREST MARGIN & CORE NET INTEREST INCOME (EXCLD. FMV & PPP ACCRETION) Dollarsinthousands39Dollars in thousands, except for per share data Net Interest Margin - Tax Equivalent (Non-GAAP)2Q213Q214Q211Q222Q22Net interest income (GAAP)253,130$ 259,986$ 258,104$ 261,474$ 314,279$ Tax equivalent adjustments1,424 1,477 1,734 1,885 2,249 Net interest income (tax equivalent) (Non-GAAP)254,554$ 261,463$ 259,838$ 263,359$ 316,528$ Average interest earning assets35,631,605$ 36,218,437$ 37,031,640$ 38,527,023$ 40,687,395$ Net Interest Margin - Tax Equivalent (Non-GAAP)2.87%2.86%2.78%2.77%3.12%Core Net Interest Margin excluding FMV & PPP Accretion (Non-GAAP)1Q222Q22Net interest income (GAAP)261,474$ 314,279$ Less: Total accretion on acquired loans6,741 12,770 Deferred fees on PPP loans983 8 Core Net Interest Margin excluding FMV & PPP Accretion (Non-GAAP)253,750$ 301,501$

| NON-GAAP RECONCILIATIONS –PPNR, ADJUSTED, PPNR/WEIGHTED AVG. CS & CORRESPONDENT & CAPITAL MARKETS INCOME (UNAUDITED) Dollarsandweightedaveragecommonsshareoutstandinginthousandsexceptpersharedata40 2Q213Q214Q211Q222Q22 Net interest income (GAAP)253,130$ 259,986$ 258,104$ 261,474$ 314,279$ Plus: Noninterest income 79,020 87,010 91,894 86,090 88,292 Less: Gain on sale of securities36 64 2 - - Total revenue, adjusted (non-GAAP)332,114$ 346,932$ 349,996$ 347,564$ 402,571$ Less: Noninterest expense263,383 232,290 224,037 228,600 231,169 PPNR (Non-GAAP)68,731$ 114,642$ 125,959$ 118,964$ 171,402$ Plus: Merger and branch consolidation related expense32,970 17,618 6,645 10,276 5,390 Extinguishment of debt cost11,706 - - - - Total adjustments44,676$ 17,618$ 6,645$ 10,276$ 5,390$ PPNR, Adjusted (Non-GAAP)113,407$ 132,260$ 132,604$ 129,240$ 176,792$ Weighted average common shares outstanding, diluted 71,409 70,576 70,290 72,111 76,094 PPNR, Adjusted per Weighted Avg. Common Shares Outstanding, Diluted (Non-GAAP)1.59$ 1.87$ 1.89$ 1.79$ 2.32$ 2Q213Q214Q211Q222Q22 ARC revenues9,433$ 9,853$ 16,686$ 15,150$ 14,925$ FI revenues14,280 13,139 11,317 10,697 10,151 Operational revenues2,164 2,172 2,213 2,147 2,528 Total Correspondent & Capital Market Income25,877$ 25,164$ 30,216$ 27,994$ 27,604$ PPNR, Adjusted & PPNR, Adjusted per Weighted Avg. Common Shares Oustanding, Diluted (Non-GAAP) Correspondent & Capital Market Income

| NON-GAAP RECONCILIATIONS –CURRENT & HISTORICAL: EFFICIENCY RATIOS (UNAUDITED) Dollarsinthousands41 2Q213Q214Q211Q222Q22 Noninterest expense (GAAP)263,383$ 232,290$ 224,037$ 228,600$ 231,169$ Less: Amortization of intangible assets8,968 8,543 8,517 8,494 8,847 Adjusted noninterest expense (non-GAAP)254,415$ 223,747$ 215,520$ 220,106$ 222,322$ Net interest income (GAAP)253,130$ 259,986$ 258,104$ 261,474$ 314,279$ Tax Equivalent ("TE") adjustments1,424 1,477 1,734 1,885 2,249 Net interest income, TE (non-GAAP)254,554$ 261,463$ 259,838$ 263,359$ 316,528$ Noninterest income (GAAP)79,020$ 87,010$ 91,894$ 86,090$ 88,292$ Less: Gain on sale of securities36 64 2 - - Adjusted noninterest income (non-GAAP)78,984$ 86,946$ 91,892$ 86,090$ 88,292$ Efficiency Ratio (Non-GAAP)76%64%61%63%55% Noninterest expense (GAAP)263,383$ 232,290$ 224,037$ 228,600$ 231,169$ Less: Merger and branch consolidation related expense32,970 17,618 6,645 10,276 5,390 Extinguishment of debt cost11,706 - - - - Amortization of intangible assets8,968 8,543 8,517 8,494 8,847 Total adjustments53,644$ 26,161$ 15,162$ 18,770$ 14,237$ Adjusted noninterest expense (non-GAAP)209,739$ 206,129$ 208,875$ 209,830$ 216,932$ Adjusted Efficiency Ratio (Non-GAAP)63%59%59%60%54%

| NON-GAAP RECONCILIATIONS –CURRENT & HISTORICAL: INVESTMENTS, FED FUNDS SOLD & INT. EARNING CASH(UNAUDITED) Dollarsinthousands(1)For end note descriptions, see Earnings Presentation End Notes starting on slide 44(2)Doesnotincludepurchaseaccountingadjustments42 2Q203Q204Q201Q212Q213Q214Q211Q222Q22 SSBCSFL Combined (2)SSBCSFL Combined (2)SSBSSBSSBSSBSSBSSBSSBSSBSSB Fed Funds & Interest Earning Cash426,685$ 163,890$ 590,575$ 1,003,257$ 1,033,586$ 2,036,843$ 3,983,047$ 4,127,250$ 4,245,949$ 5,581,581$ 5,875,078$ 5,701,002$ 6,366,494$ 5,444,234$ 4,160,583$ Investments2,005,171 2,094,614 4,099,785 2,034,189 2,342,822 4,377,011 3,271,148 3,747,128 4,446,657 5,267,271 5,719,031 6,433,631 7,173,947 8,931,233 8,652,288 Total Assets15,921,092$ 17,142,025$ 33,063,117$ 16,642,911$ 18,596,292$ 35,239,203$ 37,725,356$ 37,819,366$ 37,789,873$ 39,730,332$ 40,375,869$ 40,903,708$ 41,960,032$ 46,201,541$ 46,207,422$ Fed Funds & Interest Earning Cash / Assets1.8%5.8%10.6%10.9%11.2%14.1%14.6%13.9%15.2%11.8%9.0% Investments / Assets12.4%12.4%8.7%9.9%11.8%13.3%14.2%15.7%17.1%19.3%18.7% Combined Business Basis (SSB & CSFL)(1) 4Q19 1Q20

| NON-GAAP RECONCILIATIONS –TANGIBLE BOOK VALUE / SHARE & TANGIBLE COMMON EQUITY RATIO Dollarsinthousands,exceptforpersharedata43 Tangible Book Value per Common Share2Q213Q214Q211Q222Q22Shareholders' common equity (excludes preferred stock)4,757,623$ 4,792,941$ 4,802,940$ 5,174,408$ 5,040,425$ Less: Intangible assets1,726,211 1,717,669 1,709,152 2,064,388 2,055,219 Tangible shareholders' common equity (excludes preferred stock)3,031,412$ 3,075,272$ 3,093,788$ 3,110,020$ 2,985,206$ Common shares issued and outstanding70,382,728 69,918,037 69,332,297 75,761,018 75,641,322 Tangible Book Value per Common Share (Non-GAAP)43.07$ 43.98$ 44.62$ 41.05$ 39.47$ Tangible Common Equity ("TCE") Ratio1Q222Q22Tangible common equity (non-GAAP)3,110,020$ 2,985,206$ Total assets (GAAP)46,201,541 46,207,422 Less:Intangible assets2,064,388 2,055,219 Tangible asset (non-GAAP)44,137,153$ 44,152,203$ TCE Ratio (Non-GAAP)7.0%6.8%

| 44EARNINGS PRESENTATION END NOTESSlide 9 End Notes(1)The tangible measures are non-GAAP measures and exclude the effect of period end or average balance of intangible assets. The tangible returns on equity and common equity measures also add back the after-tax amortization of intangibles to GAAP basis net income; other adjusted figures presented are also Non-GAAP financialmeasures that exclude the impact of branch consolidation and merger-related expenses, and initial PCL on nonPCDloans and unfunded commitments acquired from ACBI -See reconciliation of GAAP to Non-GAAP measures in Appendix.Slide 10 End Notes(1)Adjusted figures above exclude the impact of merger and branch consolidation related expense; Core net interest income excludingloan accretion and net deferred fees on PPP is also a non-GAAP financial measure; Adjusted efficiency ratio is calculated by taking the noninterest expense excluding merger and branch consolidation related expense and amortization of intangible assets, divided by -See reconciliation of GAAP to Non-GAAP measures in Appendix.(2)Adjusted PPNR, PPNR ROAA and PPNR per weighted average diluted share are Non-GAAP financial measures that exclude the impact of merger and branch consolidation related expense -See reconciliation of GAAP to Non-GAAP measures in Appendix.Slide11EndNotes(1)AdjustedPPNRperweightedaveragedilutedshares;thisisaNon-GAAPfinancialmeasurethatexcludestheimpactofmergerandbranchconsolidationrelatedexpense,gainonsaleofsecuritiesandextinguishmentofdebtcost-SeereconciliationofGAAPtoNon-GAAPmeasuresinAppendix.Slide12EndNotes(1)TaxequivalentNIMisaNon-GAAPfinancialmeasure-SeereconciliationofGAAPtoNon-GAAPmeasuresinAppendix.Slide13EndNotes(4)The combined historical information referred to in this presentation as the “Combined Business Basis” presented is based on the reported GAAP results of the Company and CenterStatefor the applicable periods without adjustments and the information included in this release has not been prepared in accordance with Article 11 of Regulation S-X, and therefore does not reflect any of the pro forma adjustments that would be required thereby.All Combined Business Basis financial information should be reviewed in connection the historical information of the Company and CenterState, as applicable. The combined historical information excludes ACBI.Slide15EndNotes(1)Thecombinedhistoricalinformationreferredtointhispresentationasthe“CombinedBusinessBasis”presentedisbasedonthereportedGAAPresultsoftheCompanyandCenterStatefortheapplicableperiodswithoutadjustmentsandtheinformationincludedinthisreleasehasnotbeenpreparedinaccordancewithArticle11ofRegulationS-X,andthereforedoesnotreflectanyoftheproformaadjustmentsthatwouldberequiredthereby.AllCombinedBusinessBasisfinancialinformationshouldbereviewedinconnectionthehistoricalinformationoftheCompanyandCenterState,asapplicable.ThecombinedhistoricalinformationexcludesACBI.(2)AsaresultoftheconversionoflegacyCenterState’scoresystemtotheCompany’scoresystemcompletedin2Q2021,severalloanswerereclassifiedtoconformwiththeCompany’sloansegmentation,mostnotablyresidentialinvestmentloanswhichwerereclassedfromconsumerR/Etoinvestorcommercialrealestatecategory.ConsumerR/Eloansasof1Q20andasofpriorperiods,therefore,werereportedbasedonthepre-reclassificationfigures.TheCompanyestimatedre-classificationsforthe2Q20from1Q20andforthe1Q20from4Q19growthpercentagesforthecomparisonpurposes.Slide20EndNotes (1)Thecombinedhistoricalinformationreferredtointhispresentationasthe“CombinedBusinessBasis”presentedisbasedonthereportedGAAPresultsoftheCompanyandCenterStatefortheapplicableperiodswithoutadjustmentsandtheinformationincludedinthisreleasehasnotbeenpreparedinaccordancewithArticle11ofRegulationS-X,andthereforedoesnotreflectanyoftheproformaadjustmentsthatwouldberequiredthereby.AllCombinedBusinessBasisfinancialinformationshouldbereviewedinconnectionthehistoricalinformationoftheCompanyandCenterState,asapplicable.

| 45EARNINGS PRESENTATION END NOTESSlide26EndNotes(1)Thetangiblemeasuresarenon-GAAPmeasuresandexcludetheeffectofperiodendbalanceofintangibleassets-SeereconciliationofGAAPtoNon-GAAPmeasuresinAppendix.Slide30EndNotes(1)Thetangiblemeasureisanon-GAAPmeasureandexcludestheeffectofperiodendbalancesofintangibleassets-SeereconciliationofGAAPtoNon-GAAPmeasuresinAppendix.Slide32EndNotes(1)Total revenue and noninterest income are adjusted by securities gains or losses; Tax equivalent NIM, efficiency ratio and adjusted efficiency ratio are Non-GAAP financial measures; Adjusted Efficiency Ratio excludes the impact of merger and branch consolidation related expense, securities gains or losses, extinguishment of debtcost, and amortization expense on intangible assets, as applicable –See Current & Historical Efficiency Ratio and Net Interest Margin reconciliation in Appendix.Slide 42 End Notes(1)The combined historical information referred to in this presentation as the “Combined Business Basis” presented is based on the reported GAAP results of the Company and CenterStatefor the applicable periods without adjustments and the information included in this release has not been prepared in accordance with Article 11 of Regulation S-X, and therefore does not reflect any of the pro forma adjustments that would be required thereby.The combined historical information excludes ACBI.