<SEC-DOCUMENT>0001171843-19-001001.txt : 20190219
<SEC-HEADER>0001171843-19-001001.hdr.sgml : 20190219
<ACCEPTANCE-DATETIME>20190219152906
ACCESSION NUMBER:		0001171843-19-001001
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20190212
ITEM INFORMATION:		Material Modifications to Rights of Security Holders
ITEM INFORMATION:		Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20190219
DATE AS OF CHANGE:		20190219

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SIMMONS FIRST NATIONAL CORP
		CENTRAL INDEX KEY:			0000090498
		STANDARD INDUSTRIAL CLASSIFICATION:	NATIONAL COMMERCIAL BANKS [6021]
		IRS NUMBER:				710407808
		STATE OF INCORPORATION:			AR
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-06253
		FILM NUMBER:		19614767

	BUSINESS ADDRESS:	
		STREET 1:		501 MAIN STREET
		STREET 2:		C/O SIMMONS FIRST NATIONAL CORP
		CITY:			PINE BLUFF
		STATE:			AR
		ZIP:			71601
		BUSINESS PHONE:		8705411000

	MAIL ADDRESS:	
		STREET 1:		501 MAIN STREET
		STREET 2:		C/O SIMMONS FIRST NATIONAL CORP
		CITY:			PINE BLUFF
		STATE:			AR
		ZIP:			71601
</SEC-HEADER>
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<TYPE>8-K
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<FILENAME>f8k_021919.htm
<DESCRIPTION>FORM 8-K
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 16pt">UNITED STATES</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 16pt">SECURITIES
AND EXCHANGE COMMISSION</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Washington, D.C. 20549</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 16pt">FORM 8-K</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">CURRENT REPORT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Pursuant to Section 13 or 15(d) of the Exchange
Act of 1934</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Date of Report (Date of earliest event reported)
February 12, 2019</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 16pt">SIMMONS FIRST
NATIONAL CORPORATION</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact name of registrant as specified in
its charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <TD STYLE="text-align: center; width: 33%">&nbsp;Arkansas</TD>
    <TD STYLE="text-align: center; width: 34%">0-6253</TD>
    <TD STYLE="text-align: center; width: 33%">71-0407808</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: center">(State or other jurisdiction of <BR>
incorporation)</TD>
    <TD STYLE="text-align: center">&nbsp;(Commission File Number)</TD>
    <TD STYLE="text-align: center">&nbsp;(I.R.S. Employer Identification No.)</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: center">501 Main Street, Pine Bluff, Arkansas</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">71601</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: center">(Address of principal executive&nbsp;offices)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">(Zip Code)</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(870) 541-1000</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Registrant's telephone number, including
area code)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Not Applicable</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Former name or former address, if changed
since last report.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction
A.2. below):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">[ ]&nbsp; Written communications pursuant to Rule 425 under
the Securities Act (17 CFR 230.425)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">[ ]&nbsp; Soliciting material pursuant to Rule 14a-12 under
the Exchange Act (17 CFR 240.14a-12)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">[ ]&nbsp; Pre-commencement communications pursuant to Rule 14d-2(b)
under the Exchange Act (17 CFR 240.14d-2(b))</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">[ ]&nbsp; Pre-commencement communications pursuant to Rule 13e-4(c)
under the Exchange Act (17 CFR 240.13e-4(c))</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Indicate by check mark whether the registrant is an emerging
growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR &sect;230.405) or Rule 12b-2 of the Securities Exchange
Act of 1934 (17 CFR &sect;240.12b-2). Emerging growth company [ ]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If an emerging growth company, indicate by check mark if the
registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards
provided pursuant to Section 13(a) of the Exchange Act. [ ]&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 3.03 Material Modification to Rights of Security Holders.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The information set forth in Item 5.03 of
this Current Report on Form 8-K is hereby incorporated by reference into this Item 3.03.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 5.03 Amendments to Articles of Incorporation or Bylaws;
Change in Fiscal Year.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On February 12, 2019, Simmons First National
Corporation (&ldquo;Corporation&rdquo;) filed its Amended and Restated Articles of Incorporation (&ldquo;Amended Articles&rdquo;)
with the Arkansas Secretary of State. The Amended Articles classify and designate the following three series of preferred stock
out of the Corporation&rsquo;s authorized preferred stock: Series A Preferred Stock, Par Value $0.01 Per Share (having 40,000 authorized
shares) (&ldquo;Series A Preferred Stock&rdquo;); Series B Preferred Stock, Par Value $0.01 Per Share (having 2,000.02 authorized
shares) (&ldquo;Series B Preferred Stock&rdquo;); and 7% Perpetual Convertible Preferred Stock, Par Value $0.01 Per Share, Series
C (having 140 authorized shares) (&ldquo;Series C Preferred Stock&rdquo;). The Amended Articles were effective as of February 12,
2019.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Series A Preferred Stock has a liquidation
preference of $1,000 per share and is not convertible into Corporation common stock or any other security. Holders are entitled
to receive cumulative dividends each February 15, May 15, August 15, and November 15. The dividend rate is 9% per annum. The Series
A Preferred Stock may be redeemed at any time at the election of Simmons (and with the approval of the Federal Reserve Board of
Governors) at a redemption price of 100% of the liquidation preference, plus accrued but unpaid dividends to the date of redemption.
The Series A Preferred Stock ranks senior to the common stock of the Corporation with respect to the payment of dividends and rights
upon the voluntary or involuntary liquidation, dissolution, or winding of the Corporation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Series B Preferred Stock has a liquidation
preference of $1,000 per share and is not convertible into Corporation common stock or any other security. Holders are entitled
to receive cumulative dividends each February 15, May 15, August 15, and November 15. The dividend rate is 9% per annum. The Series
B Preferred Stock may be redeemed at any time at the election of Simmons (and with the approval of the Federal Reserve Board of
Governors) at a redemption price of 100% of the liquidation preference, plus accrued but unpaid dividends to the date of redemption.
Redemption of the Series B Preferred Stock is also subject to completion of the redemption of the Series A Preferred Stock. The
Series B Preferred Stock ranks senior to the common stock of the Corporation with respect to the payment of dividends and rights
upon the voluntary or involuntary liquidation, dissolution, or winding of the Corporation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Series C Preferred Stock has a liquidation
preference of $1,000 per share and is convertible into Corporation common stock in accordance with the terms contained in the Amended
Articles. Holders are entitled to receive cumulative dividends each February 15, May 15, August 15, and November 15. The dividend
rate is 7% per annum. The Series C Preferred Stock may be redeemed at any time after December 15, 2019, at the election of Simmons
(and with the approval of the Federal Reserve Board of Governors) at a redemption price of 100% of the liquidation preference,
plus accrued but unpaid dividends to the date of redemption. The Series C Preferred Stock ranks senior to the common stock of the
Corporation with respect to the payment of dividends and rights upon the voluntary or involuntary liquidation, dissolution, or
winding of the Corporation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The foregoing descriptions of the Series
A Preferred Stock, Series B Preferred Stock, and Series C Preferred Stock are qualified in their entirety by reference to the Amended
Articles, which are filed herewith as Exhibit 3.1 and incorporated herein by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 9.01 Financial Statements and Exhibits.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">(d) Exhibits</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><A HREF="exh_31.htm">3.1</A></TD><TD><A HREF="exh_31.htm">Amended and Restated Articles of Incorporation of Simmons First National Corporation, as amended on February 12, 2019.</A></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SIGNATURE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; vertical-align: middle">SIMMONS FIRST NATIONAL CORPORATION</TD></TR>
<TR>
    <TD STYLE="vertical-align: middle; width: 50%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 27%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 23%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 1pt solid">/s/&nbsp;&nbsp;Robert A. Fehlman</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: middle">Date: February 19, 2019</TD>
    <TD COLSPAN="2" STYLE="vertical-align: middle">Robert A. Fehlman, Senior Executive Vice President,&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: middle">Chief Financial Officer and Treasurer</TD></TR>
</TABLE>


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</DIV>

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<P STYLE="margin: 0; text-align: right"><B>Exhibit 3.1</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>AMENDED AND RESTATED</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ARTICLES OF INCORPORATION OF</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIMMONS FIRST NATIONAL CORPORATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pursuant to, and in
accordance with, the Arkansas Business Corporation Act of 1987, the Articles of Incorporation of Simmons First National Corporation
are hereby amended and restated as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><U>FIRST</U></B>:&#9;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The name of this Corporation is</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 80pt; text-align: left"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SIMMONS FIRST NATIONAL
CORPORATION</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><U>SECOND</U></B>:&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
duration of this Corporation and the period of its existence shall be perpetual.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><U>THIRD</U></B>:&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
nature of the business of this Corporation and the objects and purposes proposed to be transacted, promoted or carried on by it
are as follows, to-wit:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a) To act as a holding
company and to acquire and own stock or other interest in other businesses of any lawful character, including specifically banks,
mortgage loan and servicing businesses, factoring businesses, and other financially oriented businesses; and as shareholder or
as owner of other interest in such businesses, to exercise all rights incident thereto;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b) To do all things
herein set forth, and in addition, all such other acts and things necessary or convenient or intended for the attainment of any
of the purposes of this Corporation and to participate in, engage in, carry on and conduct any business that a natural person lawfully
might or could do insofar as such acts and business undertakings are permitted to be done by a corporation organized under the
general corporation laws of the State of Arkansas, with all powers conferred upon corporations, specifically or by inference, under
the laws of the State of Arkansas.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><U>FOURTH</U></B>:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The authorized capital stock of this Corporation shall consist of 175,000,000 shares of Class A Common Stock having a par value
of $0.01 per share and 40,040,000 shares of Preferred Stock having a par value of $0.01 per share, with the powers, privileges,
incidents, preferences and limitations hereinafter set forth below:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a) <B>Class A common
Stock</B>:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The entire voting power
of this Corporation shall be vested in the Class A common stock, and the holder of each share of the Class A common stock shall
be entitled to one vote, in person or by proxy, for each share of such stock standing in the holder's name on the books of the
Corporation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b) <B>Preferred Stock</B>:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Board of Directors
is authorized, subject to limitations prescribed by law and the provisions of this Article FOURTH, to provide for the issuance
of Preferred Stock, in series, and by filing a certificate pursuant to the applicable law of the State of Arkansas, to establish
from time to time the number of shares to be included in each such series, and to fix the designation, powers, preferences and
rights of the shares of each such series and the qualifications, limitations or restrictions thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The authority of the
Board with respect to each series shall include, but not be limited to, determination of the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(1) The number of shares
constituting that series and the distinctive designation of that series;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(2) The dividend rate
on the shares of that series, whether dividends shall be cumulative, and, if so, from which date or dates, and the relative rights
of priority, if any, of payment of dividends on shares of that series;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(3) Whether that series
shall have voting rights, in addition to the voting rights provided by law, and, if so, the terms of such voting rights;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(4) Whether that series
shall have conversion privileges, and, if so, the terms and conditions of such conversion, including provision for adjustment of
the conversion rate in such events as the Board of Directors shall determine;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(5) Whether or not
the shares of that series shall be redeemable, and, if so, the terms and conditions of such redemption, including the date or date
upon or after which they shall be redeemable, and the amount per share payable in case of redemption, which amount may vary under
different conditions and at different redemption dates;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(6) Whether that series
shall have a sinking fund for the redemption or purchase of shares of that series, and, if so, the terms and amount of such sinking
fund;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(7) The rights of the
shares of that series in the event of voluntary or involuntary liquidation, dissolution or winding up of the corporation, and the
relative rights of priority, if any, of payment of shares of that series;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(8) Any other relative
rights, preferences and limitations of that series.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The aggregate liquidation
preference of all shares of Preferred stock shall not exceed $80,000,000. The aggregate liquidation preference may be allocated
among shares in different series in such manner and amounts as the Board may determine in the resolution establishing such series.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Dividends on outstanding
shares of Preferred Stock shall be paid or declared and set apart for payment before any dividends shall be paid or declared and
set apart for payment on the common shares with respect to the same dividend period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c) <B>General </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(1) No shareholder
of the Corporation shall because of the ownership of stock have a pre-emptive or other right to purchase, subscribe for, or take
any part of the stock or any part of the notes, debentures, bonds or other securities convertible into or carrying options or warrants
to purchase stock of the Corporation issued, optioned, or sold by it. Any part of the capital stock authorized by the Articles
of Incorporation or any amendment thereto duly filed, and any part of the notes, debentures, bonds or other securities convertible
into or carrying options or warrants to purchase stock of the Corporation may, at any time, be issued, optioned for sale, and sold
or disposed of by the Corporation pursuant to resolution of its Board of Directors to such persons and upon such terms as to such
Board may seem proper without first offering such stock or securities or any part thereof to existing shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(2) The Board of Directors
of the Corporation shall have the power, at their discretion, to prepare and cause to be issued convertible bonds or debentures
of the Corporation, whether or not secured by a sinking fund, pledge or other commitment, having such rights, conversion options
into the Class A common stock of the Corporation, bearing such interest, having such maturity dates, with such restrictions, incidents,
privileges, and characteristics, and in such amounts, total and individually, as may be determined by the Board of Directors to
be appropriate for the corporate purposes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><U>FIFTH</U></B>:&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Corporation shall not commence business until it has received consideration of the value of at least Three Hundred Dollars for
the issuance of its shares of stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><U>SIXTH</U></B>:&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
initial office of the Corporation shall be at Fifth and Main Streets in the City of Pine Bluff, Arkansas, and the name of the resident
agent of the Corporation is George A. Makris, whose address is 501 Main Street, Pine Bluff, Arkansas, 71601.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><U>SEVENTH</U></B>:&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
name and post office address of the incorporator is Wayne A. Stone, 10 Westridge Drive, Pine Bluff, Arkansas.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><U>EIGHTH</U></B>:&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Board of Directors of this Corporation shall consist of not less than five (5) nor more than twenty-five (25) persons, the exact
number of directors within such minimum and maximum limits to be fixed and determined, from time to time, by resolution of majority
of the full Board of Directors or by resolution of the shareholders at any annual or special meeting thereof. Any vacancy in the
Board of Directors for any reason, including an increase in the number thereof, may be filled by action of the Board of Directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><U>NINTH</U></B>:&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
affairs and business of this Corporation shall be controlled and conducted by the Board of Directors. The Board of Directors may
make By-Laws for the management of the affairs and business of this Corporation, from time to time, and may amend or repeal such
By-Laws. In addition, the Corporation and Board of Directors shall have all the powers provided for boards of directors and corporations
under the laws of the State of Arkansas, including, but not limited to, the power to create an Executive Committee from among their
number, to provide for the day-to-day management and operations of the Corporation's affairs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><U>TENTH</U></B>:&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
private property of the stockholders shall not be subject to the payment of the corporate debts to any extent whatsoever.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><U>ELEVENTH</U></B>:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(a)(1) Except as otherwise expressly provided in this Article, in the event that any person becomes an Interested Stockholder (as
hereinafter defined), then any acquisition of additional Voting Shares (as hereinafter defined), other than through a Business
Combination (as hereinafter defined), by such Interested Stockholder shall only be pursuant to a Tender Offer ( as hereinafter
defined) to acquire, for cash, any and all outstanding shares of capital stock of the Corporation entitled to vote generally in
the election of directors (&quot;Voting Shares&quot;) not owned by such Interested Stockholder at the Fair Price (as hereinafter
defined).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(2) The provisions of
this section (a) shall not apply to any person exempted from the requirements of this section by the Board of Directors in a resolution
passed before the person becomes an Interested Stockholder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(3) A Tender Offer shall
be made on the terms and subject to the conditions as set forth below:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(i) All expenses associated
with the making and conduct of the Tender Offer shall be the sole responsibility of the Interested Stockholder; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(ii) The Tender Offer
shall be an offer to purchase any and all outstanding Voting Shares not owned by the Interested Stockholder at a price per share
not less than the Fair Price, net to the seller in cash. Shares tendered pursuant to valid guarantees of delivery before the initial
expiration date of the Tender Offer, specifically identifying certificates therefor, shall be deemed to be validly tendered for
purposes of the Tender Offer. The initial expiration of the Tender Offer shall not be less than twenty (20) business days after
the commencement of the Tender Offer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b) In addition to
any affirmative vote required by law, and except as otherwise expressly provided in this Article:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(1) any merger or consolidation
of the Corporation with or into any other Corporation, or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(2) any sale, lease,
exchange, mortgage, pledge, transfer or other disposition (in one transaction or a series of related transactions) of all or substantially
all of the property and assets of the Corporation, or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(3) the adoption of any
plan or proposal of liquidation or dissolution of the Corporation; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(4) any reclassification
of the Corporation's securities (including any stock split); shall require the affirmative vote of the holders of at least 80%
of the outstanding Voting Shares, unless such Business Combination is approved by 80% of the Continuing Directors (as hereinafter
defined) of the Corporation. Such affirmative vote of the shareholders or directors shall be required, notwithstanding the fact
that no vote may be required, or that some lesser percentage may be specified, by law or in any agreement or otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c) The provisions
of sections (a) and (b) of this Article shall not be applicable to any Business Combination or stock acquisition, and such Business
Combination or stock acquisition shall require only such affirmative vote as is required by law and any other provisions of these
Articles of Incorporation, if any, if such transaction has been approved by 80% of the Continuing Directors of the Corporation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(d) For purposes of
this Article:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(1) &quot;Business Combination&quot;
means any transaction which is referred to in any one or more paragraphs (1) through (4) of section (b) of this Article.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(2) &quot;Person&quot;
includes a natural person, corporation, partnership, association, joint stock company, trust, unincorporated association or other
entity. When two or more Persons act as a partnership, limited partnership, syndicate or other group for the purpose of acquiring,
holding or disposing of common stock, such syndicate or group shall be deemed a Person for purposes of this Article.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(3) &quot;Interested
Stockholder&quot; means any Person (other than the Corporation), any Subsidiary (as hereinafter defined) or any Employee Stock
Ownership Trust or other compensation plan of the Corporation, who or which as of any date immediately prior to the consummation
of any transaction described in this Article:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(i) is the beneficial
owner, directly or indirectly, of more than 10% of the Voting Shares; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(ii) is an Affiliate
of the Corporation and at any time within two years prior thereto was the beneficial owner, directly or indirectly, of not less
than 6% of the then outstanding Voting Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(4) &quot;Tender Offer&quot;
means a tender offer for cash made in accordance with the then applicable rules and regulations of the Securities and Exchange
Commission issued pursuant to Section 14(d) of the Securities Exchange Act of 1934, as amended.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(5) &quot;Fair Price&quot;
means the amount payable by the Interested Stockholder in respect of each Voting Share, which shall be the greater amount determined
on either of the following bases:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(i) The highest price
per share of Voting Shares including commissions paid to brokers or dealers for solicitation or other services, at which Voting
Shares held by the Interested Stockholder were acquired pursuant to any market purchase or otherwise within the preceding twenty-four
(24) full calendar months prior to the commencement of the Tender Offer. For purposes of this subsection (i), if the consideration
paid in any such acquisition of Voting Shares consisted, in whole or part, of consideration other than cash, then such other consideration
shall be valued at the market value thereof at the time of the payment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(ii) The highest sale
price per share of the Voting Shares for any trading day during the preceding twenty-four (24) full calendar months prior to the
commencement of the Tender Offer. For purposes of this subsection (ii), the sale price for any trading day shall be the last sale
price per share of Voting Shares as reported in the National Association of Securities Dealers Automated Quotation System.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(6) &quot;Beneficial
Ownership&quot; means any right or power through any contract, arrangement, understanding, relationship or otherwise to exercise,
directly or indirectly, (1) voting power, which includes the power to vote, or to direct the voting of, the Voting Shares, or (2)
investment power, which includes the power to dispose of, or to direct the disposition of, the Voting Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Notwithstanding the
foregoing, Beneficial Ownership shall not include (1) ownership by a registered broker holding shares of Voting Shares in its street
name for customers, or (2) ownership by an employee plan maintained for the Company's employees, provided that each employee is
entitled to vote the shares in the trust which are allocable to him.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(7) A person shall be
a &quot;beneficial owner&quot; of any Voting Shares:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(i) which such Person
or any of its Affiliates or Associates (as hereinafter defined) beneficially owns, directly or indirectly; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(ii) which such Person
or any of its Affiliates or Associates has (a) the right to acquire (whether such right is exercisable immediately or only after
the passage of time), pursuant to any agreement, arrangement or understanding, or upon the exercise of conversion rights, exchange
rights, warrants or options, or otherwise, or (b) the right to vote pursuant to any agreement, arrangement or understanding, or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(iii) which are beneficially
owned, directly or indirectly, by any other Person with which such first mentioned Person or any of its Affiliates or Associates
has any agreement, arrangement or understanding for the purpose of acquiring, holding, voting or disposing of any Voting Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(8) An &quot;Affiliate&quot;
of, or a Person &quot;affiliated&quot; with, a specified Person, is a Person that directly or indirectly through one or more intermediaries
controls, or is controlled by, or is under common control with the Person specified.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(9) The term &quot;Associate&quot;
used to indicate a relationship with any Person means (1) any corporation or organization (other than the Corporation or a majority-owned
subsidiary of the Corporation) of which such Person is an officer or partner or is, directly or indirectly, the beneficial owner
of 10% or more of any class of equity securities, (2) any trust or other estate in which such Person has a substantial beneficial
interest or as to which such Person serves as trustee or in a similar fiduciary capacity, or (3) any relative or spouse of such
Person, or any relative of such spouse, who has the same home as such Person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(10) The outstanding
Voting Shares shall include shares deemed owned through application of paragraph (7) of section (d) above, but shall not include
any other Voting Shares which may be issuable pursuant to any agreement or upon exercise of conversion rights, warrants, or options,
or otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(11) &quot;Proponent&quot;
means any Person (or its Affiliates or Associates) which makes any Tender Offer for the Voting Shares or proposes any Business
Combination directly affecting the Corporation or its subsidiaries.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(12) &quot;Continuing
Directors&quot; means the incumbent directors of the Corporation on the date immediately preceding the date the Proponent (or its
Affiliates or Associates) became an Interested Stockholder. In the event the Proponent (or its Affiliates or Associates) is not
an Interested Stockholder, then all directors of the Corporation shall be Continuing Directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(13) &quot;Subsidiary&quot;
shall mean a corporation of which a majority of each class of equity is owned, directly or indirectly, by the Corporation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(e) A majority of the
Continuing Directors shall have the power and duty to determine for the purposes of this Article on the basis of information known
to them, (1) if a Business Combination is proposed by or on behalf of an Interested Stockholder or Affiliate of an Interested Stockholder,
(2) the number of Voting Shares beneficially owned by any Person, (3) whether a person is an Affiliate or Associate of another,
or (4) whether a person has an agreement, arrangement or understanding with another as to the matters referred to in paragraph
(7) of section (d) above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(f) Nothing contained
in this Article shall be construed to relieve any Interested Stockholder from any fiduciary obligation imposed by law. The Board
of Directors is specifically authorized to seek equitable relief, including an injunction, to enforce the provisions of the Article.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><U>TWELFTH</U>:</B>&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)
Every person who was or is a party of, is threatened to be made party to, or is involved in, any action, suit or proceeding, whether
civil, criminal, administrative or investigative, by reason of the fact that he is or was a director or officer of the Corporation
(or is or was serving at the request of the Corporation as a director or officer of another corporation, or as its representative
in a partnership, joint venture, trust or other enterprise) shall be indemnified and held harmless to the fullest extent legally
permissible under and pursuant to any procedure specified in the Arkansas Business Corporation Act of 1965, as amended and as the
same may be amended hereafter, against all expenses, liabilities and losses (including attorney's fees, judgments, fines and amounts
paid or to be paid in settlement) reasonably incurred or suffered by him in connection therewith. Such right of indemnification
shall be a contract right that may enforced in any lawful manner by such person, and the Corporation may in the discretion of the
Board of Directors enter into indemnification agreements with its directors and officers. Such right of indemnification shall not
be exclusive of any other right which such director or officer may have or hereafter acquire and, without limiting the generality
of such statement, he shall be entitled to his rights of indemnification under any agreement, vote of stockholders, provision of
law or otherwise, as well as his rights under this section.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b) The Board of Directors
may cause the Corporation to purchase and maintain insurance on behalf of any person who is, or was, a director of officer of the
Corporation, or is or was serving at the request of the Corporation as a director or officer of another corporation or as its representative
in a partnership, joint venture, trust or other enterprise, against any liability asserted against such person and incurred in
any such capacity or arising out of such status, whether or not the Corporation would have the power to indemnify such person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c) Expenses incurred
by a director or officer of the Corporation in defending a civil or criminal action, suit or proceeding by reason of the fact that
he is, or was, a director or officer of the Corporation (or is or was serving at the Corporation's request as a director or officer
of another corporation or as its representative in a partnership, joint venture, trust or other enterprise) shall be paid by the
Corporation in advance of the final disposition of such action, suit or proceeding (1) upon authorization (i) by the Board of Directors
by a majority vote of a quorum consisting of directors who are not parties to the action, suit or proceeding, (ii) if such a quorum
is not obtainable or, even if obtainable, if a quorum of disinterested directors so directs, then by independent legal counsel
in a written opinion, or (iii) by the shareholders; and (2) upon receipt of an undertaking by, or on behalf of, such person to
repay such amount, if it shall ultimately be determined that he or she is not entitled to be indemnified by the Corporation as
authorized by relevant provisions of the Arkansas Business Corporation Act of 1965 as the same now exists or as it may hereafter
be amended.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(d) If any provision
of this Article or the application thereof to any person or circumstance is adjudicated invalid, such invalidity shall not affect
other provisions or applications of this Article which lawfully can be given without the invalid provision of this Article.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><U>THIRTEENTH</U></B>:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In the event of any Tender Offer, merger offer or other acquisitive offer for the shares or assets of the Corporation or any of
its subsidiaries, then, in addition to any other action required by law, the Board of Directors shall consider the following factors
in evaluating such offer, prior to making any recommendation with respect to such offer:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a) The likely impact
of the proposed acquisitive transaction on the Corporation, its subsidiaries, its shareholders, its employees and the communities
served by the Corporation and its subsidiaries;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b) The timeliness
of the offer and proposed transaction considering the current business climate and the current business activities and plans of
the Corporation and its subsidiaries;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c) The possibility
of any legal defects, including but not limited to bank and bank holding company regulatory matters, in the offer of proposed transaction;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(d) The risk of non-consummation
of the offer due to inadequate financing, failure to obtain regulatory approval or such other risks as the Board may identify;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(e) The current market
price of the stock and the assets of the Corporation and its subsidiaries;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(f) The book value
of the stock of the Corporation;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(g) The relationship
of the proposed price in the offer to the Board's opinion of the current value of the Corporation and its subsidiaries in an independently
negotiated transaction;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(h) The relationship
of the proposed price in the offer to the Board's opinion of the future value of the Corporation and its subsidiaries as an independent
entity; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(i) Any other factors
which the Board deems pertinent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">No director who is
an Affiliate or Associate (as defined in Article Eleventh above) of the offeror shall participate in any manner whatsoever in the
above evaluation of the offer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><U>FOURTEENTH</U></B>:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Any amendment, repeal or modification of any of the terms of the Articles of Incorporation of the Corporation shall, in addition
to all other requirements of law, require the approval of 80% of the shares entitled to vote on such amendment, repeal or modification,
unless such amendment, repeal or modification shall have been approved by an affirmative vote of 80% of the Continuing Directors
of the Corporation (as defined in Article Eleventh above).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><U>FIFTEENTH</U>:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>
The Corporation elects to be governed by and subject to the Arkansas Business Corporation Act of 1987.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><U>SIXTEENTH</U>:</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
To the fullest extent permitted by the Arkansas Business Corporation Act, as it now exists or may hereafter be amended, a director
of this Corporation shall not be liable to the Corporation or its shareholders for monetary damages for breach of fiduciary duty
as a director.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><U>SEVENTEENTH:</U></B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Reserved</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #030303; text-indent: 0.5in"><B><U>EIGHTEENTH:</U></B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
There is hereby created out of the authorized and unissued shares of preferred stock of the Corporation a series of preferred stock
designated as the &quot;Senior Noncumulative Perpetual Preferred Stock, Series A&quot; (the &quot;Designated Preferred Stock&quot;).
The authorized number of shares of Designated Preferred Stock shall be 30,852.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #030303">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #030303; text-indent: 0.5in">The Certificate of Designation
and Standard Provisions attached hereto as Exhibit 1 shall set forth the terms of the Designated Preferred Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #030303">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #030303"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #030303">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #030303; text-indent: 0.5in"><B><U>NINETEENTH:</U></B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
There is hereby created out of the authorized and unissued shares of preferred stock of the Corporation (1) a series of preferred
stock designated as the &ldquo;Series A Preferred Stock, Par Value $0.01 Per Share&rdquo;, having 40,000 authorized shares; (2)
a series of preferred stock designated as the &ldquo;Series B Preferred Stock, Par Value $0.01 Per Share&rdquo;, having 2,000.02
authorized shares; and (3) a series of &ldquo;7% Perpetual Convertible Preferred Stock, Par Value $0.01 Per Share, Series C&rdquo;,
having 140 authorized shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #030303">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #030303; text-indent: 0.5in">The Certificates of Designations
and Standard Provisions for each of the series of preferred stock identified in this Article NINETEENTH attached hereto as Exhibits
2 through 4 shall set forth the terms of such series.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">IN WITNESS WHEREOF,
the Chairman and Chief Executive Officer of the Corporation has set his hand this 12th day of February, 2019.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; vertical-align: middle">SIMMONS FIRST NATIONAL CORPORATION</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; width: 50%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; width: 3%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 27%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 20%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">By</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid">/s/ George A. Makris, Jr.</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: middle; padding-left: 10pt">George A. Makris, Jr., Chairman and</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; padding-left: 20pt">Chief Executive Officer</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CERTIFICATE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pursuant to, and in
accordance with, the Arkansas Business Corporation Act of 1987, Simmons First National Corporation does hereby certify that the
Amended and Restated Articles of Incorporation were duly adopted and restated by a resolution of the Board of Directors. The Amended
and Restated Articles of Incorporation contain a new Article NINETEENTH, which was duly approved by the board of directors and
for which the following information is provided:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B><U>FIRST</U></B>:</TD><TD STYLE="text-align: justify">The name of the corporation is: <B>Simmons First National Corporation</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B><U>SECOND</U></B>:</TD><TD STYLE="text-align: justify">The Articles of Incorporation are hereby amended by inserting Article NINETEENTH as follows:</TD></TR></TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.7in 0pt 1in; text-align: justify; text-indent: 0.5in; color: #030303"><B><U>NINETEENTH:</U></B>
There is hereby created out of the authorized and unissued shares of preferred stock of the Corporation (1) a series of preferred
stock designated as the &ldquo;Series A Preferred Stock, Par Value $0.01 Per Share&rdquo;, having 40,000 authorized shares; (2)
a series of preferred stock designated as the &ldquo;Series B Preferred Stock, Par Value $0.01 Per Share&rdquo;, having 2,000.02
authorized shares; and (3) a series of &ldquo;7% Perpetual Convertible Preferred Stock, Par Value $0.01 Per Share, Series C&rdquo;,
having 140 authorized shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.7in 0pt 0; text-align: justify; color: #030303">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.7in 0pt 1in; text-align: justify; text-indent: 0.5in; color: #030303">The
Certificates of Designations and Standard Provisions for each of the series of preferred stock identified in this Article NINETEENTH
attached hereto as Exhibits 2 through 4 shall set forth the terms of such series.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.7in 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B><U>THIRD</U></B>:</TD><TD STYLE="text-align: justify">The amendment was approved by the board of directors without shareholder action. Shareholder action
was not required.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B><U>FIFTH</U></B>:</TD><TD STYLE="text-align: justify">The date of adoption of the amendment was February 11, 2019.</TD></TR></TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">IN WITNESS WHEREOF,
the Chairman and Chief Executive Officer of Simmons First National Corporation has set his hand this 12th day of February 2019.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B></B></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; vertical-align: middle">SIMMONS FIRST NATIONAL CORPORATION</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; width: 50%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; width: 3%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 27%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 20%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">By</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid">/s/ George A. Makris, Jr.</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: middle; padding-left: 10pt">George A. Makris, Jr., Chairman and</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; padding-left: 20pt">Chief Executive Officer</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
</TABLE>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">EXHIBIT 1</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[CERTIFICATE OF DESIGNATION AND STANDARD
PROVISIONS ON NEXT PAGE]</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: right">(SBLF
<BR>
Bank/Thrifts Senior <BR>
Preferred Stock)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.9pt 0pt 4.5in; text-align: right; text-indent: 16.3pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1.5in; text-align: center"><B>CERTIFICATE OF DESIGNATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 139.8pt 0pt 142.85pt; text-align: center"><B>OF</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SENIOR NON-CUMULATIVE PERPETUAL PREFERRED
STOCK, SERIES A</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 23.7pt 0pt 23.45pt; text-align: center"><B>OF</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 23.45pt; text-align: center"><B>SIMMONS FIRST NATIONAL CORPORATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.6pt 0pt 0; text-align: justify; text-indent: 0.5in">The undersigned,
being the Chairman and Chief Executive Officer of Simmons First National Corporation, a corporation organized and existing under
the laws of the state of Arkansas (the &quot;<U>Issuer</U>&quot;), in accordance with Sections 4-27-101, et seq., of the Arkansas
Business Corporation Act, does hereby certify that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.6pt 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">A.</TD><TD STYLE="text-align: justify; padding-right: 6.6pt">The Issuer entered into an Agreement and Plan of Merger (the &quot;<U>Merger</U>&quot;)
with Community First Bancshares, Inc., a Tennessee corporation, (&quot;<U>CFB</U>&quot;) dated May 6, 2014, by which CFB would
be merged with and into Issuer.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.6pt 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">B.</TD><TD STYLE="text-align: justify; padding-right: 6.6pt">The Issuer anticipates that the Merger of CFB will be completed in the fourth
quarter of 2014.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.6pt 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">C.</TD><TD STYLE="text-align: justify; padding-right: 6.6pt">CFB is a participant in the United States Department of the Treasury's (the
&quot;<U>Treasury</U>&quot;) Small Business Loan Fund (&quot;<U>SBLF</U>&quot;).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.6pt 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">D.</TD><TD STYLE="text-align: justify; padding-right: 6.6pt">As part of CFB's participation in the SBLF, it issued 30,852 shares of Senior
Non-Cumulative Perpetual Preferred Stock, Series C, with a liquidation value of $1,000 per share to the Treasury (&quot;<U>CFB
Preferred Shares</U>&quot;) in exchange for $30,852,000 in SBLF funds (the &quot;<U>CFB Original Issuance</U>&quot;).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.6pt 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">E.</TD><TD STYLE="text-align: justify; padding-right: 6.6pt">As part of the CFB Original Issuance, CFB also issued Certificate of Designation
of Senior Non-Cumulative Perpetual Preferred Stock, Series C, which was originally filed by CFB with the Secretary of State of
the state of Tennessee on August 16, 2011.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.6pt 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">F.</TD><TD STYLE="text-align: justify; padding-right: 6.6pt">In connection with the Merger, the Issuer has agreed to issue 30,852 shares
of Senior Non-Cumulative Perpetual Preferred Stock, Series A, with a par value of $0.01 and liquidation value of $1,000 per share
with the rights, preferences and privileges set forth in this Certificate of Designation in exchange for the CFB Preferred Shares.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.6pt 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">G.</TD><TD STYLE="text-align: justify; padding-right: 6.6pt">The board of directors of the Issuer (the &quot;<U>Board of Directors</U>&quot;),
in accordance with the articles of incorporation and bylaws of the Issuer and applicable law, adopted the following resolution
on 2-25, 2015 creating a series of 30,852 shares of preferred stock of the Issuer designated as &quot;<U>Senior Non-Cumulative
Perpetual Preferred Stock, Series A</U>&quot;.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B>RESOLVED</B>, that
pursuant to the provisions of the articles of incorporation and bylaws of the Issuer and applicable law, a series of preferred
stock, par value $0.01 per share, of the Issuer be and hereby is created, and that the designation and number of shares of such
series, and the voting and other powers, preferences and relative, participating, optional or other rights, and the qualifications,
limitations and restrictions thereof, of the shares of such series, are as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 7pt; text-align: justify; text-indent: 71.95pt">Part 1. Designation
and Number of Shares. There is hereby created out of the authorized and unissued shares of preferred stock of the Issuer a series
of preferred stock designated as the &quot;Senior Non-Cumulative Perpetual Preferred Stock, Series A&quot; (the &quot;Designated
Preferred Stock&quot;). The authorized number of shares of Designated Preferred Stock shall be 30,852.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 7pt; text-align: justify; text-indent: 71.95pt">Part 2. Standard
Provisions. The Standard Provisions contained in Schedule A attached hereto are incorporated herein by reference in their entirety
and shall be deemed to be a part of this Certificate of Designation to the same extent as if such provisions had been set forth
in full herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.65pt; text-align: justify; text-indent: 71.95pt">Part 3.
Definitions. The following terms are used in this Certificate of Designation (including the Standard Provisions in Schedule A hereto)
as defined below:</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.9pt 0pt 4.5pt; text-align: justify; text-indent: 76.5pt">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&quot;<U>Common Stock</U>&quot; means the common stock, par value $0.01 per share, of the Issuer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.9pt 0pt 81pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.9pt 0pt 4.5pt; text-align: justify; text-indent: 76.5pt">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&quot;Definitive Agreement&quot; means that certain Securities Purchase Agreement by and between CFB and Treasury, dated
as of the Signing Date and assumed by the Issuer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4.5pt; text-align: justify; text-indent: 76.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.8pt 0pt 4.5pt; text-align: justify; text-indent: 76.5pt">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&quot;Junior Stock&quot; means the Common Stock and any other class or series of stock of the Issuer the terms of which
expressly provide that it ranks junior to Designated Preferred Stock as to dividend and redemption rights and/or as to rights on
liquidation, dissolution or winding up of the Issuer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.8pt 0pt 81pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.8pt 0pt 4.5pt; text-align: justify; text-indent: 76.5pt">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&quot;Liquidation Amount&quot; means $1,000 per share of Designated Preferred Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.85pt 0pt 0; text-align: justify; text-indent: 81pt">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&quot;Minimum Amount&quot; means (i) the amount equal to twenty-five percent (25%) of the aggregate Liquidation Amount of
Designated Preferred Stock issued on the Original Issue Date or (ii) all of the outstanding Designated Preferred Stock, if the
aggregate liquidation preference of the outstanding Designated Preferred Stock is less than the amount set forth in the preceding
clause (i).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 81pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.9pt 0pt 0; text-align: justify; text-indent: 81pt">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&quot;Parity Stock&quot; means any class or series of stock of the Issuer (other than Designated Preferred Stock) the terms
of which do not expressly provide that such class or series will rank senior or junior to Designated Preferred Stock as to dividend
rights and/or as to rights on liquidation, dissolution or winding up of the Issuer (in each case without regard to whether dividends
accrue cumulatively or non-cumulatively).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.9pt 0pt 0; text-align: justify; text-indent: 81pt">(g)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&quot;<U>Signing Date</U>&quot; means August 18, 2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.75pt 0pt 0; text-align: justify; text-indent: 81pt">(h)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&quot;Treasury&quot; means the United States Department of the Treasury and any successor in interest thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.8pt 0pt 5.65pt; text-align: justify; text-indent: 71.95pt">Part
4. Certain Voting Matters. Holders of shares of Designated Preferred Stock will be entitled to one vote for each such share on
any matter on which holders of Designated Preferred Stock are entitled to vote, including any action by written consent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">[Remainder of Page Intentionally
Left Blank]</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5pt; text-align: justify; text-indent: 49pt">IN WITNESS WHEREOF,
<B>SIMMONS FIRST NATIONAL CORPORATION </B>has caused this Certificate of Designation to be signed by <B>George A. Makris, Jr.</B>,
its <B>Chairman </B>and <B>Chief Executive Officer</B>, this 27th day of February, 2015.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="font-weight: bold; vertical-align: middle">SIMMONS FIRST NATIONAL CORPORATION</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">By</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom">/s/ George A. Makris, Jr.</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">Name:</TD>
    <TD COLSPAN="2" STYLE="vertical-align: middle; text-align: left">George A. Makris, Jr.</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; width: 50%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 3%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left; width: 5%">Title:</TD>
    <TD STYLE="vertical-align: middle; text-align: left; width: 22%">Chairman and CEO</TD>
    <TD STYLE="vertical-align: bottom; width: 20%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.85pt 0pt 0; text-align: right"><B>Schedule A</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1pt 0pt 0; text-align: center"><B>STANDARD PROVISIONS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.8pt 0pt 5pt; text-align: justify; text-indent: 71.95pt">Section
1. <U>General Matters</U>. Each share of Designated Preferred Stock shall be identical in all respects to every other share of
Designated Preferred Stock. The Designated Preferred Stock shall be perpetual, subject to the provisions of Section 5 of these
Standard Provisions that form a part of the Certificate of Designation. The Designated Preferred Stock shall rank equally with
Parity Stock and shall rank senior to Junior Stock with respect to the payment of dividends and the distribution of assets in the
event of any dissolution, liquidation or winding up of the Issuer, as set forth below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.05pt 0pt 5pt; text-align: justify; text-indent: 71.95pt">Section
2. <U>Standard Definitions</U>. As used herein with respect to Designated Preferred Stock:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.85pt 0pt 5pt; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&quot;<U>Acquiror</U>&quot;, in any Holding Company Transaction, means the surviving or resulting entity or its ultimate
parent in the case of a merger or consolidation or the transferee in the case of a sale, lease or other transfer in one transaction
or a series of related transactions of all or substantially all of the consolidated assets of the Issuer and its subsidiaries,
taken as a whole.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.9pt 0pt 5pt; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&quot;<U>Affiliate</U>&quot; means, with respect to any person, any person directly or indirectly controlling, controlled
by or under common control with, such other person. For purposes of this definition, &quot;<U>control</U>&quot; (including, with
correlative meanings, the terms &quot;<U>controlled by</U>&quot; and &quot;<U>under common control with</U>&quot;) when used with
respect to any person, means the possession, directly or indirectly through one or more intermediaries, of the power to cause the
direction of management and/or policies of such person, whether through the ownership of voting securities by contract or otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.05pt 0pt 5pt; text-align: justify; text-indent: 1in"> (c) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&quot;<U>Applicable Dividend Rate</U>&quot; has the meaning set forth in Section 3(a).</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.05pt 0pt 5pt; text-align: justify; text-indent: 1in">(d)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&quot;<U>Appropriate Federal Banking Agency</U>&quot; means the &quot;appropriate Federal banking agency&quot; with respect
to the Issuer as defined in Section 3(q) of the Federal Deposit Insurance Act (12 U.S.C. Section 1813(q)), or any successor provision.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.05pt 0pt 5pt; text-align: justify; text-indent: 1in">(e)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&quot;<U>Bank Holding Company</U>&quot; means a company registered as such with the Board of Governors of the Federal Reserve
System pursuant to 12 U.S.C. &sect;1842 and the regulations of the Board of Governors of the Federal Reserve System thereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.75pt 0pt 5pt; text-align: justify; text-indent: 1in">(f)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&quot;<U>Baseline</U>&quot; means the &quot;Initial Small Business Lending Baseline&quot; set forth on the Initial Supplemental
Report (as defined in the Definitive Agreement), subject to adjustment pursuant to Section 3(a).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.05pt 0pt 5pt; text-align: justify; text-indent: 1in">(g)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&quot;<U>Business Combination</U>&quot; means a merger, consolidation, statutory share exchange or similar transaction that
requires the approval of the Issuer&rsquo;s stockholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.2pt 0pt 5pt; text-align: justify; text-indent: 1in">(h)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&quot;<U>Business Day</U>&quot; means any day except Saturday, Sunday and any day on which banking institutions in the State
of New York or the District of Columbia generally are authorized or required by law or other governmental actions to close.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.2pt 0pt 77pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.2pt 0pt 5pt; text-align: justify; text-indent: 1in">(i)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&quot;<U>Bylaws</U>&quot; means the bylaws of the Issuer, as they may be amended from time to time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.2pt 0pt 5pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.2pt 0pt 5pt; text-align: justify; text-indent: 1in">(j)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&quot;<U>Call Report</U>&quot; has the meaning set forth in the Definitive Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.2pt 0pt 5pt; text-align: justify; text-indent: 1in">(k)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&quot;<U>Certificate of Designation</U>&quot; means the Certificate of Designation or comparable instrument relating to
the Designated Preferred Stock, of which these Standard Provisions form a part, as it may be amended from time to time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.2pt 0pt 5pt; text-align: justify; text-indent: 1in">(l)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&quot;<U>Charge-Offs</U>&quot; means the net amount of loans charged off by the Issuer or, if the Issuer is a Bank Holding
Company or a Savings and Loan Holding Company, by the IDI Subsidiary(ies) during quarters that begin on or after the Signing Date,
determined as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 41pt; text-align: justify; text-indent: 1in">(i)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>if the Issuer or the applicable IDI Subsidiary is a bank, by subtracting (A) the aggregate dollar amount of recoveries reflected
on line RIAD4605 of its Call Reports for such quarters from (B) the aggregate dollar amount of charge-offs reflected on line RIAD4635
of its Call Reports for such quarters (without duplication as a result of such dollar amounts being reported on a year-to-date
basis); or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.55pt 0pt 41pt; text-align: justify; text-indent: 1in">(ii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>if the Issuer or the applicable IDI Subsidiary is a thrift, by subtracting (A) the sum of the aggregate dollar amount of
recoveries reflected on line VA140 of its Call Reports for such quarters and the aggregate dollar amount of adjustments reflected
on line VA150 of its Call Reports for such quarters from (B) the aggregate dollar amount of charge-offs reflected on line VA160
of its Call Reports for such quarters.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.2pt 0pt 5pt; text-align: justify; text-indent: 1in">(m)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&quot;<U>Charter</U>&quot; means the Issuer&rsquo;s certificate or articles of incorporation, articles of association, or
similar organizational document.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.2pt 0pt 5pt; text-align: justify; text-indent: 1in">(n)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&quot;<U>CPP Lending Incentive Fee</U>&quot; has the meaning set forth in Section 3(e).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.2pt 0pt 5pt; text-align: justify; text-indent: 1in">(o)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&quot;<U>Current Period</U>&quot; has the meaning set forth in Section 3(a)(i)(2).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.2pt 0pt 5pt; text-align: justify; text-indent: 1in">(p)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&quot;<U>Dividend Payment Date</U>&quot; means January 1, April 1, July 1, and October 1 of each year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.2pt 0pt 5pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.2pt 0pt 5pt; text-align: justify; text-indent: 1in">(q)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Dividend Period</U>&quot; means the period from and including any Dividend Payment Date to, but excluding, the next Dividend
Payment Date; <I>provided, however</I>, the initial Dividend Period shall be the period from and including the Original Issue Date
to, but excluding, the next Dividend Payment Date (the &quot;<U>Initial Dividend Period</U>&quot;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.2pt 0pt 5pt; text-align: justify; text-indent: 1in">(r)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&quot;<U>Dividend Record Date</U>&quot; has the meaning set forth in Section 3(b).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.2pt 0pt 5pt; text-align: justify; text-indent: 1in">(s)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&quot;<U>Dividend Reference Period</U>&quot; has the meaning set forth in Section 3(a)(i)(2).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.2pt 0pt 5pt; text-align: justify; text-indent: 1in">(t)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&quot;<U>GAAP</U>&quot; means generally accepted accounting principles in the United States.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.2pt 0pt 5pt; text-align: justify; text-indent: 1in">(u)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&quot;<U>Holding Company Preferred Stock</U>&quot; has the meaning set forth in Section 7(c)(v).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.2pt 0pt 5pt; text-align: justify; text-indent: 1in">(v)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&quot;<U>Holding Company Transaction</U>&quot; means the occurrence of (a) any transaction (including, without limitation,
any acquisition, merger or consolidation) the result of which is that a &quot;person&quot; or &quot;group&quot; within the meaning
of Section 13(d) of the Securities Exchange Act of 1934, as amended, (i) becomes the direct or indirect ultimate &ldquo;beneficial
owner,&rdquo; as defined in Rule 13d-3 under that Act, of common equity of the Issuer representing more than 50% of the voting
power of the outstanding Common Stock or (ii) is otherwise required to consolidate the Issuer for purposes of generally accepted
accounting principles in the United States, or (b) any consolidation or merger of the Issuer or similar transaction or any sale,
lease or other transfer in one transaction or a series of related transactions of all or substantially all of the consolidated
assets of the Issuer and its subsidiaries, taken as a whole, to any Person other than one of the Issuer&rsquo;s subsidiaries; <I>provided</I>
that, in the case of either clause (a) or (b), the Issuer or the Acquiror is or becomes a Bank Holding Company or Savings and Loan
Holding Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.2pt 0pt 5pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.2pt 0pt 5pt; text-align: justify; text-indent: 1in">(w)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&quot;<U>IDI Subsidiary</U>&quot; means any Issuer Subsidiary that is an insured depositary institution.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.2pt 0pt 5pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.2pt 0pt 5pt; text-align: justify; text-indent: 1in">(x)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&quot;<U>Increase in QSBL</U>&quot; means:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.75pt 0pt 41pt; text-align: justify; text-indent: 1in">(i)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>with respect to the first (1st) Dividend Period, the difference obtained by subtracting (A) the Baseline from (B) QSBL set
forth in the Initial Supplemental Report (as defined in the Definitive Agreement); and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.9pt 0pt 41pt; text-align: justify; text-indent: 1in">(ii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>with respect to each subsequent Dividend Period, the difference obtained by subtracting (A) the Baseline from (B) QSBL for
the Dividend Reference Period for the Current Period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6pt 0pt 5pt; text-indent: 1in">(y)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&quot;<U>Initial Dividend Period</U>&quot; has the meaning set forth in the definition of &ldquo;Dividend Period&rdquo;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6pt 0pt 5pt; text-indent: 1in"> (z)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &quot;<U>Issuer Subsidiary</U>&quot; means any subsidiary of the Issuer.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6pt 0pt 5pt; text-indent: 1in"> (aa)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>&ldquo;Liquidation Preference</U>&quot; has the meaning set forth in Section 4(a).</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 77pt">(bb)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&quot;<U>Non-Qualifying Portion Percentage</U>&quot; means, with respect to any particular Dividend Period, the percentage
obtained by subtracting the Qualifying Portion Percentage from one (1).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 77pt">(cc)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>&ldquo;Original Issue Date</U>&quot; means August 18, 2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 77pt">(dd)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&#9;&quot;<U>Percentage Change in QSBL</U>&quot; has the meaning set forth in Section 3(a)(ii).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 77pt">(ee)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&#9;&quot;<U>Person</U>&quot; means a legal person, including any individual, corporation, estate, partnership, joint venture,
association, joint-stock company, limited liability company or trust.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 77pt">(ff)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&quot;<U>Preferred Director</U>&quot; has the meaning set forth in Section 7(c).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 77pt">(gg)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&#9;&quot;<U>Preferred Stock</U>&quot; means any and all series of preferred stock of the Issuer, including the Designated
Preferred Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 77pt">(hh)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&#9;&quot;<U>Previously Acquired Preferred Shares</U>&quot; has the meaning set forth in the Definitive Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 77pt">(ii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&#9;&quot;<U>Private Capital</U>&quot; means, if the Issuer is Matching Private Investment Supported (as defined in the
Definitive Agreement), the equity capital received by the Issuer or the applicable Affiliate of the Issuer from one or more non-governmental
investors in accordance with Section 1.3(m) of the Definitive Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 77pt">(jj)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&quot;<U>Publicly-traded</U>&quot; means a company that (i) has a class of securities that is traded on a national securities
exchange and (ii) is required to file periodic reports with either the Securities and Exchange Commission or its primary federal
bank regulator.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 77pt">(kk)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&#9;&quot;<U>Qualified Small Business Lending</U>&quot; or &quot;<U>QSBL</U>&quot; means, with respect to any particular
Dividend Period, the &ldquo;Quarter-End Adjusted Qualified Small Business Lending&rdquo; for such Dividend Period set forth in
the applicable Supplemental Report.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 77pt">(ll)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&quot;<U>Qualifying Portion Percentage</U>&quot; means, with respect to any particular Dividend Period, the percentage obtained
by dividing (i) the Increase in QSBL for such Dividend Period by (ii) the aggregate Liquidation Amount of then-outstanding Designated
Preferred Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 77pt">(mm)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;
</FONT>&quot;<U>Savings and Loan Holding Company</U>&quot; means a company registered as such with the Office of Thrift Supervision
pursuant to 12 U.S.C. &sect;1467a(b) and the regulations of the Office of Thrift Supervision promulgated thereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 77pt">(nn)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&quot;<U>Share Dilution Amount</U>&quot; means the increase in the number of diluted shares outstanding (determined in accordance
with GAAP applied on a consistent basis, and as measured from the date of the Issuer&rsquo;s or CFB&rsquo;s most recent consolidated
financial statements prior to the Signing Date) resulting from the grant, vesting or exercise of equity-based compensation to employees
and equitably adjusted for any stock split, stock dividend, reverse stock split, reclassification or similar transaction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 77pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 77pt"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 77pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 77pt">(oo)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&quot;<U>Signing Date Tier 1 Capital Amount</U>&quot; means $127,931,000.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 77pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 77pt">(pp)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&#9; &quot;<U>Standard Provisions</U>&quot; mean these Standard Provisions that form a part of the Certificate of Designation
relating to the Designated Preferred Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 77pt">(qq)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&quot;<U>Supplemental Report</U>&quot; means a Supplemental Report delivered by the Issuer or CFB to Treasury pursuant to
the Definitive Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 77pt">(rr)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&quot;<U>Tier 1 Dividend Threshold</U>&quot; means, as of any particular date, the result of the following formula:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 118.55pt">( ( A + B &ndash; C ) * 0.9 ) &ndash; D</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 118.55pt">where:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 118.55pt">A = Signing Date Tier 1 Capital Amount;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 4.45pt 0pt 141.05pt; text-indent: -22.5pt">B = the aggregate Liquidation
Amount of the Designated Preferred Stock issued to Treasury;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 118.55pt">C = the aggregate amount of Charge-Offs since the
Signing Date; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 4.45pt 0pt 141.05pt; text-indent: -22.5pt">D = (i) beginning on
the first day of the eleventh (11th) Dividend Period, the amount equal to ten percent (10%) of the aggregate Liquidation Amount
of the Designated Preferred Stock issued to Treasury as of the Effective Date (without regard to any redemptions of Designated
Preferred Stock that may have occurred thereafter) for every one percent (1%) of positive Percentage Change in Qualified Small
Business Lending between the ninth (9th) Dividend Period and the Baseline; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 141.05pt">(ii) zero (0) at all other times.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 77pt">(ss)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&quot;<U>Voting Parity Stock</U>&quot; means, with regard to any matter as to which the holders of Designated Preferred
Stock are entitled to vote as specified in Section 7(d) of these Standard Provisions that form a part of the Certificate of Designation,
any and all series of Parity Stock upon which like voting rights have been conferred and are exercisable with respect to such matter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 78pt">Section 3. <U>Dividends</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5pt; text-align: left; text-indent: 73pt">(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Rate</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 41pt; text-indent: 73pt">(i)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The &quot;<U>Applicable Dividend Rate</U>&quot; shall be determined as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 150.05pt"></TD><TD STYLE="width: 36pt">(1)</TD><TD STYLE="text-align: justify; padding-right: 6.1pt">With respect to the Initial Dividend Period, the Applicable Dividend Rate
shall be 5%.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 150.05pt"></TD><TD STYLE="width: 36pt">(2)</TD><TD STYLE="text-align: justify; padding-right: 5.85pt">With respect to each of the second (2nd) through the tenth (10th) Dividend
Periods, inclusive (in each case, the &ldquo;<U>Current Period</U>&rdquo;), the Applicable Dividend Rate shall be:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.75pt 0pt 150.05pt; text-align: justify; text-indent: 0.5in">(A)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>(x) the applicable rate set forth in column &ldquo;A&rdquo; of the table in Section 3(a)(iii), based on the Percentage Change
in QSBL between the Dividend Period that was two Dividend Periods prior to the Current Period (the &ldquo;<U>Dividend Reference
Period</U>&rdquo;) and the Baseline, multiplied by (y) the Qualifying Portion Percentage; plus</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.85pt 0pt 150.05pt; text-align: justify; text-indent: 0.5in">(B)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>(x) five percent (5%) multiplied by (y) the Non- Qualifying Portion Percentage.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.8pt 0pt 150.05pt; text-align: justify">In each such case, the
Applicable Dividend Rate shall be determined at the time the Issuer delivers a complete and accurate Supplemental Report to Treasury
with respect to the Dividend Reference Period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 150.05pt"></TD><TD STYLE="width: 36pt">(3)</TD><TD STYLE="text-align: justify; padding-right: 5.75pt">With respect to the eleventh (11th) through the eighteenth (18th) Dividend
Periods, inclusive, and that portion of the nineteenth (19th) Dividend Period prior to, but not including, the four and one half
(4&frac12;) year anniversary of the Original Issue Date, the Applicable Dividend Rate shall be:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.8pt 0pt 150.05pt; text-align: justify; text-indent: 0.5in">(A)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>(x) the applicable rate set forth in column &ldquo;B&rdquo; of the table in Section 3(a)(iii), based on the Percentage Change
in QSBL between the ninth (9th) Dividend Period and the Baseline, multiplied by (y) the Qualifying Portion Percentage, calculated
as of the last day of the ninth (9th) Dividend Period; plus</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.85pt 0pt 150.05pt; text-align: justify; text-indent: 0.5in">(B)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>(x) five percent (5%) multiplied by (y) the Non- Qualifying Portion Percentage, calculated as of the last day of the ninth
(9th) Dividend Period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.8pt 0pt 150.05pt; text-align: justify">In such case, the Applicable
Dividend Rate shall be determined at the time the Issuer delivers a complete and accurate Supplemental Report to Treasury with
respect to the ninth (9th) Dividend Period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 149.05pt"></TD><TD STYLE="width: 36pt">(4)</TD><TD STYLE="text-align: justify; padding-right: 5.65pt">With respect to (A) that portion of the nineteenth (19th) Dividend Period
beginning on the four and one half (4&frac12;) year anniversary of the Original Issue Date and (B) all Dividend Periods thereafter,
the Applicable Dividend Rate shall be nine percent (9%).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 149.05pt"></TD><TD STYLE="width: 36pt">(5)</TD><TD STYLE="text-align: justify; padding-right: 5.75pt">Notwithstanding anything herein to the contrary, if the Issuer fails to
submit a Supplemental Report that is due during any of the second (2nd) through tenth (10th) Dividend Periods on or before the
sixtieth (60th) day of such Dividend Period, the Issuer&rsquo;s QSBL for the Dividend Period that would have been covered by such
Supplemental Report shall be zero (0) for purposes hereof.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 149.05pt"></TD><TD STYLE="width: 36pt">(6)</TD><TD STYLE="text-align: justify; padding-right: 5.8pt">Notwithstanding anything herein to the contrary, but subject to Section 3(a)(i)(5)
above, if the Issuer fails to submit the Supplemental Report that is due during the tenth (10th) Dividend Period, the Issuer&rsquo;s
QSBL shall be zero (0) for purposes of calculating the Applicable Dividend Rate pursuant to Section 3(a)(i)(3) and (4). The Applicable
Dividend Rate shall be re-determined effective as of the first day of the calendar quarter following the date such failure is remedied,
provided it is remedied prior to the four and one half (4&frac12;) anniversary of the Original Issue Date.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 149.05pt"></TD><TD STYLE="width: 36pt">(7)</TD><TD STYLE="text-align: justify; padding-right: 5.75pt">Notwithstanding anything herein to the contrary, if the Issuer fails to
submit any of the certificates required by Sections 3.1(d)(ii) or 3.1(d)(iii) of the Definitive Agreement when and as required
thereby, the Issuer&rsquo;s QSBL for the shall be zero (0) for purposes of calculating the Applicable Dividend Rate pursuant to
Section 3(a)(i)(2) or (3) above until such failure is remedied.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.85pt 0pt 41pt; text-align: justify; text-indent: 1in">(ii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The &quot;<U>Percentage Change in Qualified Lending</U>&quot; between any given Dividend Period and the Baseline shall be
the result of the following formula, expressed as a percentage:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 149.4pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 149.4pt"></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
<TR>
    <TD STYLE="font-size: 10pt; vertical-align: bottom; width: 13%">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="font-size: 18pt; font-weight: bold; vertical-align: middle; text-align: center; width: 4%">(</TD>
    <TD STYLE="font-size: 10pt; vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: center; width: 36%">( QSBL for the Dividend Period &ndash; Baseline )</TD>
    <TD ROWSPAN="2" STYLE="font-size: 18pt; font-weight: bold; vertical-align: middle; text-align: center; width: 4%">)</TD>
    <TD ROWSPAN="2" STYLE="font-size: 10pt; vertical-align: middle; text-align: left; width: 43%">x 100</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center">Baseline</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 149.4pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 149.4pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6pt 0pt 41pt; text-indent: 1in">(iii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The following table shall be used for determining the Applicable Dividend Rate:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 70%; border-collapse: collapse; margin-left: 2in">
<TR STYLE="vertical-align: top">
    <TD ROWSPAN="2" STYLE="border: black 1pt solid; text-align: left; vertical-align: middle; padding-left: 5.1pt"><I>If the Percentage Change in Qualified Lending
is:</I></TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 1.5pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>The Applicable Dividend Rate shall be:</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B><I>Column
&ldquo;A&rdquo;</I></B><I> (each of the 2nd &ndash; 10th Dividend Periods)</I></P></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 1.7pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Column
    &ldquo;B&rdquo;</I></B><I> (11th &ndash; 18th, and the first part of the 19th, Dividend Periods)</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 49%; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-left: 5.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">0% or less</FONT></TD>
    <TD STYLE="width: 26%; border-bottom: black 1pt solid; border-right: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">5%</FONT></TD>
    <TD STYLE="width: 25%; border-bottom: black 1pt solid; border-right: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">7%</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-left: 5.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">More than 0%, but less than 2.5%</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">5%</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">5%</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-left: 5.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">2.5% or more, but less than 5%</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">4%</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">4%</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-left: 5.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">5% or more, but less than 7.5%</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">3%</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">3%</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-left: 5.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">7.5% or more, but less than 10%</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">2%</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">2%</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-left: 5.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">10% or more</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">1%</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">1%</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.9pt 0pt 41pt; text-align: justify; text-indent: 1in">(iv)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>If the Issuer consummates a Business Combination, a purchase of loans or a purchase of participations in loans and the Designated
Preferred Stock remains outstanding thereafter, then the Baseline shall thereafter be the &ldquo;Quarter-End Adjusted Small Business
Lending Baseline&rdquo; set forth on the Quarterly Supplemental Report (as defined in the Definitive Agreement).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.8pt 0pt 5pt; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Payment</U>. Holders of Designated Preferred Stock shall be entitled to receive, on each share of Designated Preferred
Stock if, as and when declared by the Board of Directors or any duly authorized committee of the Board of Directors, but only out
of assets legally available therefor, non-cumulative cash dividends with respect to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.85pt 0pt 41pt; text-align: justify; text-indent: 1in">(i)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>each Dividend Period (other than the Initial Dividend Period) at a rate equal to one-fourth (&frac14;) of the Applicable
Dividend Rate with respect to each Dividend Period on the Liquidation Amount per share of Designated Preferred Stock, and no more,
payable quarterly in arrears on each Dividend Payment Date; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.85pt 0pt 41pt; text-align: justify; text-indent: 1in">(ii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the Initial Dividend Period, on the first such Dividend Payment Date to occur at least twenty (20) calendar days after the
Original Issue Date, an amount equal to (A) the Applicable Dividend Rate with respect to the Initial Dividend Period multiplied
by (B) the number of days from the Original Issue Date to the last day of the Initial Dividend Period (inclusive) divided by 360.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.85pt 0pt 5pt; text-align: justify; text-indent: 71.95pt">In the
event that any Dividend Payment Date would otherwise fall on a day that is not a Business Day, the dividend payment due on that
date will be postponed to the next day that is a Business Day and no additional dividends will accrue as a result of that postponement.
For avoidance of doubt, &ldquo;payable quarterly in arrears&rdquo; means that, with respect to any particular Dividend Period,
dividends begin accruing on the first day of such Dividend Period and are payable on the first day of the next Dividend Period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.7pt 0pt 5pt; text-align: justify; text-indent: 71.95pt">The amount
of dividends payable on Designated Preferred Stock on any date prior to the end of a Dividend Period, and for the initial Dividend
Period, shall be computed on the basis of a 360-day year consisting of four 90-day quarters, and actual days elapsed over a 90-day
quarter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.75pt 0pt 5pt; text-align: justify; text-indent: 71.95pt">Dividends
that are payable on Designated Preferred Stock on any Dividend Payment Date will be payable to holders of record of Designated
Preferred Stock as they appear on the stock register of the Issuer on the applicable record date, which shall be the 15th calendar
day immediately preceding such Dividend Payment Date or such other record date fixed by the Board of Directors or any duly authorized
committee of the Board of Directors that is not more than 60 nor less than 10 days prior to such Dividend Payment Date (each, a
&ldquo;<U>Dividend Record Date</U>&rdquo;). Any such day that is a Dividend Record Date shall be a Dividend Record Date whether
or not such day is a Business Day.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6pt 0pt 5pt; text-align: justify; text-indent: 71.95pt">Holders
of Designated Preferred Stock shall not be entitled to any dividends, whether payable in cash, securities or other property, other
than dividends (if any) declared and payable on Designated Preferred Stock as specified in this Section 3 (subject to the other
provisions of the Certificate of Designation).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.75pt 0pt 5pt; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Non-Cumulative</U>. Dividends on shares of Designated Preferred Stock shall be non-cumulative. If the Board of Directors
or any duly authorized committee of the Board of Directors does not declare a dividend on the Designated Preferred Stock in respect
of any Dividend Period:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.7pt 0pt 41pt; text-align: justify; text-indent: 1in">(i)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the holders of Designated Preferred Stock shall have no right to receive any dividend for such Dividend Period, and the
Issuer shall have no obligation to pay a dividend for such Dividend Period, whether or not dividends are declared for any subsequent
Dividend Period with respect to the Designated Preferred Stock; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.7pt 0pt 41pt; text-align: justify; text-indent: 1in">(ii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the Issuer shall, within five (5) calendar days, deliver to the holders of the Designated Preferred Stock a written notice
executed by the Chief Executive Officer and the Chief Financial Officer of the Issuer stating the Board of Directors&rsquo; rationale
for not declaring dividends.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 77pt"></TD><TD STYLE="width: 36pt">(d)</TD><TD STYLE="text-align: left"><U>Priority of Dividends; Restrictions on Dividends</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.85pt 0pt 41pt; text-align: justify; text-indent: 1in">(i)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Subject to Sections 3(d)(ii), (iii) and (v) and any restrictions imposed by the Appropriate Federal Banking Agency or, if
applicable, the Issuer&rsquo;s state bank supervisor (as defined in Section 3(r) of the Federal Deposit Insurance Act (12</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 41pt; text-align: justify">U.S.C. &sect; 1813(q)), so
long as any share of Designated Preferred Stock remains outstanding, the Issuer may declare and pay dividends on the Common Stock,
any other shares of Junior Stock, or Parity Stock, in each case only if (A) after giving effect to such dividend the Issuer&rsquo;s
Tier 1 capital would be at least equal to the Tier 1 Dividend Threshold<B>,</B> and (B) full dividends on all outstanding shares
of Designated Preferred Stock for the most recently completed Dividend Period have been or are contemporaneously declared and paid.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 41pt; text-align: justify; text-indent: 1in">(ii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>If a dividend is not declared and paid in full on the Designated Preferred Stock in respect of any Dividend Period, then
from the last day of such Dividend Period until the last day of the third (3rd) Dividend Period immediately following it, no dividend
or distribution shall be declared or paid on the Common Stock or any other shares of Junior Stock (other than dividends payable
solely in shares of Common Stock) or Parity Stock; <I>provided, however</I>, that in any such Dividend Period in which a dividend
is declared and paid on the Designated Preferred Stock, dividends may be paid on Parity Stock to the extent necessary to avoid
any material breach of a covenant by which the Issuer is bound.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.75pt 0pt 42pt; text-align: justify; text-indent: 1in">(iii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>When dividends have not been declared and paid in full for an aggregate of four (4) Dividend Periods or more, and during
such time the Issuer was not subject to a regulatory determination that prohibits the declaration and payment of dividends, the
Issuer shall, within five (5) calendar days of each missed payment, deliver to the holders of the Designated Preferred Stock a
certificate executed by at least a majority of the Board of Directors stating that the Board of Directors used its best efforts
to declare and pay such dividends in a manner consistent with (A) safe and sound banking practices and (B) the directors&rsquo;
fiduciary obligations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.8pt 0pt 42pt; text-align: justify; text-indent: 1in">(iv)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Subject to the foregoing and Section 3(e) below and not otherwise, such dividends (payable in cash, securities or other
property) as may be determined by the Board of Directors or any duly authorized committee of the Board of Directors may be declared
and paid on any securities, including Common Stock and other Junior Stock, from time to time out of any funds legally available
for such payment, and holders of Designated Preferred Stock shall not be entitled to participate in any such dividends.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.85pt 0pt 42pt; text-align: justify; text-indent: 1in">(v)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>If the Issuer is not Publicly-Traded, then after the tenth (10th) anniversary of the Signing Date, so long as any share
of Designated Preferred Stock remains outstanding, no dividend or distribution shall be declared or paid on the Common Stock or
any other shares of Junior Stock (other than dividends payable solely in shares of Common Stock) or Parity Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.7pt 0pt 6pt; text-align: justify; text-indent: 0.5in">(e)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Special Lending Incentive Fee Related to CPP</U>. If Treasury held Previously Acquired Preferred Shares immediately prior
to the Original Issue Date and the Issuer did not apply to Treasury to redeem such Previously Acquired Preferred Shares prior to
December 16, 2010, and if the Issuer&rsquo;s Supplemental Report with respect to the ninth (9th) Dividend Period reflects an amount
of Qualified Small Business Lending that is less than or equal to the Baseline (or if the Issuer fails to timely file a Supplemental
Report with respect to the ninth (9th) Dividend Period), then beginning on April 1, 2014 and on all Dividend Payment Dates thereafter
ending on April 1, 2016, the Issuer shall pay to the Holders of Designated Preferred Stock, on each share of Designated Preferred
Stock, but only out of assets legally available therefor, a fee equal to 0.5% of the Liquidation Amount per share of Designated
Preferred Stock (&ldquo;<U>CPP Lending Incentive Fee</U>&rdquo;). All references in Section 3(d) to &ldquo;dividends&rdquo; on
the Designated Preferred Stock shall be deemed to include the CPP Lending Incentive Fee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 77pt">Section 4. <U>Liquidation Rights</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.9pt 0pt 5pt; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Voluntary or Involuntary Liquidation</U>. In the event of any liquidation, dissolution or winding up of the affairs of
the Issuer, whether voluntary or involuntary, holders of Designated Preferred Stock shall be entitled to receive for each share
of Designated Preferred Stock, out of the assets of the Issuer or proceeds thereof (whether capital or surplus) available for distribution
to stockholders of the Issuer, subject to the rights of any creditors of the Issuer, before any distribution of such assets or
proceeds is made to or set aside for the holders of Common Stock and any other stock of the Issuer ranking junior to Designated
Preferred Stock as to such distribution, payment in full in an amount equal to the sum of (i) the Liquidation Amount per share
and (ii) the amount of any accrued and unpaid dividends on each such share (such amounts collectively, the &ldquo;<U>Liquidation
Preference</U>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.9pt 0pt 5pt; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Partial Payment</U>. If in any distribution described in Section 4(a) above the assets of the Issuer or proceeds thereof
are not sufficient to pay in full the amounts payable with respect to all outstanding shares of Designated Preferred Stock and
the corresponding amounts payable with respect of any other stock of the Issuer ranking equally with Designated Preferred Stock
as to such distribution, holders of Designated Preferred Stock and the holders of such other stock shall share ratably in any such
distribution in proportion to the full respective distributions to which they are entitled.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.7pt 0pt 5pt; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Residual Distributions</U>. If the Liquidation Preference has been paid in full to all holders of Designated Preferred
Stock and the corresponding amounts payable with respect of any other stock of the Issuer ranking equally with Designated Preferred
Stock as to such distribution has been paid in full, the holders of other stock of the Issuer shall be entitled to receive all
remaining assets of the Issuer (or proceeds thereof) according to their respective rights and preferences.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.75pt 0pt 5pt; text-align: justify; text-indent: 1in">(d)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Merger, Consolidation and Sale of Assets Is Not Liquidation</U>. For purposes of this Section 4, the merger or consolidation
of the Issuer with any other corporation or other entity, including a merger or consolidation in which the holders of Designated
Preferred Stock receive cash, securities or other property for their shares, or the sale, lease or exchange (for cash, securities
or other property) of all or substantially all of the assets of the Issuer, shall not constitute a liquidation, dissolution or
winding up of the Issuer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 77pt">Section 5. <U>Redemption</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5pt; text-indent: 1in">(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Optional Redemption</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 41pt; text-indent: 1in">(i)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Subject to the other provisions of this Section 5:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 149.05pt"></TD><TD STYLE="width: 36pt">(1)</TD><TD STYLE="text-align: justify; padding-right: 5.85pt">The Issuer, at its option, subject to the approval of the Appropriate Federal
Banking Agency, may redeem, in whole or in part, at any time and from time to time, out of funds legally available therefor, the
shares of Designated Preferred Stock at the time outstanding; and</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 149.05pt"></TD><TD STYLE="width: 36pt">(2)</TD><TD STYLE="text-align: justify; padding-right: 5.7pt">If, after the Signing Date, there is a change in law that modifies the terms
of Treasury&rsquo;s investment in the Designated Preferred Stock or the terms of Treasury&rsquo;s Small Business Lending Fund program
in a materially adverse respect for the Issuer or CFB, the Issuer may, after consultation with the Appropriate Federal Banking
Agency, redeem all of the shares of Designated Preferred Stock at the time outstanding.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.05pt 0pt 41pt; text-indent: 1in">(ii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The per-share redemption price for shares of Designated Preferred Stock shall be equal to the sum of:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 149.05pt"></TD><TD STYLE="width: 36pt">(1)</TD><TD>the Liquidation Amount per share,</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 149.05pt"></TD><TD STYLE="width: 36pt">(2)</TD><TD STYLE="text-align: justify; padding-right: 5.75pt">the per-share amount of any unpaid dividends for the then current Dividend
Period at the Applicable Dividend Rate to, but excluding, the date fixed for redemption (regardless of whether any dividends are
actually declared for that Dividend Period; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 149.05pt"></TD><TD STYLE="width: 36pt">(3)</TD><TD STYLE="text-align: justify; padding-right: 5.9pt">the pro rata amount of CPP Lending Incentive Fees for the current Dividend
Period.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.85pt 0pt 5pt; text-align: justify; text-indent: 71.95pt">The
redemption price for any shares of Designated Preferred Stock shall be payable on the redemption date to the holder of such shares
against surrender of the certificate(s) evidencing such shares to the Issuer or its agent. Any declared but unpaid dividends for
the then current Dividend Period payable on a redemption date that occurs subsequent to the Dividend Record Date for a Dividend
Period shall not be paid to the holder entitled to receive the redemption price on the redemption date, but rather shall be paid
to the holder of record of the redeemed shares on such Dividend Record Date relating to the Dividend Payment Date as provided in
Section 3 above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.85pt 0pt 5pt; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>No Sinking Fund</U>. The Designated Preferred Stock will not be subject to any mandatory redemption, sinking fund or
other similar provisions. Holders of Designated Preferred Stock will have no right to require redemption or repurchase of any shares
of Designated Preferred Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.9pt 0pt 5pt; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><U>Notice
of Redemption</U>. Notice of every redemption of shares of Designated Preferred Stock shall be given by first class mail,
postage prepaid, addressed to the holders of record of the shares to be redeemed at their respective last addresses appearing
on the books of the Issuer. Such mailing shall be at least 30 days and not more than 60 days before the date fixed
for redemption. Any notice mailed as provided in this Subsection shall be conclusively presumed to have been duly given,
whether or not the holder receives such notice, but failure duly to give such notice by mail, or any defect in such notice or
in the mailing thereof, to any holder of shares of Designated Preferred Stock designated for redemption shall not affect the
validity of the proceedings for the redemption of any other shares of Designated Preferred Stock. Notwithstanding the
foregoing, if shares of Designated Preferred Stock are issued in book-entry form through The Depository Trust Company or any
other similar facility, notice of redemption may be given to the holders of Designated Preferred Stock at such time and in
any manner permitted by such facility. Each notice of redemption given to a holder shall state: (1) the redemption date; (2)
the number of shares of Designated Preferred Stock to be redeemed and, if less than all the shares held by such holder are to
be redeemed, the number of such shares to be redeemed from such holder; (3) the redemption price; and (4) the place or places
where certificates for such shares are to be surrendered for payment of the redemption price.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.85pt 0pt 5pt; text-align: justify; text-indent: 1in">(d)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Partial Redemption</U>. In case of any redemption of part of the shares of Designated Preferred Stock at the time outstanding,
the shares to be redeemed shall be selected either <I>pro rata</I> or in such other manner as the Board of Directors or a duly
authorized committee thereof may determine to be fair and equitable, but in any event the shares to be redeemed shall not be less
than the Minimum Amount. Subject to the provisions hereof, the Board of Directors or a duly authorized committee thereof shall
have full power and authority to prescribe the terms and conditions upon which shares of Designated Preferred Stock shall be redeemed
from time to time, subject to the approval of the Appropriate Federal Banking Agency. If fewer than all the shares represented
by any certificate are redeemed, a new certificate shall be issued representing the unredeemed shares without charge to the holder
thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.7pt 0pt 5pt; text-align: justify; text-indent: 1in">(e)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Effectiveness of Redemption</U>. If notice of redemption has been duly given and if on or before the redemption date
specified in the notice all funds necessary for the redemption have been deposited by the Issuer, in trust for the <I>pro rata</I>
benefit of the holders of the shares called for redemption, with a bank or trust company doing business in the Borough of Manhattan,
The City of New York, and having a capital and surplus of at least $500 million and selected by the Board of Directors, so as to
be and continue to be available solely therefor, then, notwithstanding that any certificate for any share so called for redemption
has not been surrendered for cancellation, on and after the redemption date dividends shall cease to accrue on all shares so called
for redemption, all shares so called for redemption shall no longer be deemed outstanding and all rights with respect to such shares
shall forthwith on such redemption date cease and terminate, except only the right of the holders thereof to receive the amount
payable on such redemption from such bank or trust company, without interest. Any funds unclaimed at the end of three years from
the redemption date shall, to the extent permitted by law, be released to the Issuer, after which time the holders of the shares
so called for redemption shall look only to the Issuer for payment of the redemption price of such shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.9pt 0pt 5pt; text-align: justify; text-indent: 1in">(f)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Status of Redeemed Shares</U>. Shares of Designated Preferred Stock that are redeemed, repurchased or otherwise acquired
by the Issuer shall revert to authorized but unissued shares of Preferred Stock (<I>provided</I> that any such cancelled shares
of Designated Preferred Stock may be reissued only as shares of any series of Preferred Stock other than Designated Preferred Stock).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.95pt 0pt 5pt; text-align: justify; text-indent: 71.95pt">Section
6. <U>Conversion</U>. Holders of Designated Preferred Stock shares shall have no right to exchange or convert such shares into
any other securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 77pt">Section 7. <U>Voting Rights</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.9pt 0pt 5pt; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>General</U>. The holders of Designated Preferred Stock shall not have any voting rights except as set forth below or
as otherwise from time to time required by law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.75pt 0pt 5pt; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Board Observation Rights</U>. Whenever, at any time or times, dividends on the shares of Designated Preferred Stock have
not been declared and paid in full within five (5) Business Days after each Dividend Payment Date for an aggregate of five (5)
Dividend Periods or more, whether or not consecutive, the Issuer shall invite a representative selected by the holders of a majority
of the outstanding shares of Designated Preferred Stock, voting as a single class, to attend all meetings of its Board of Directors
in a nonvoting observer capacity and, in this respect, shall give such representative copies of all notices, minutes, consents,
and other materials that it provides to its directors in connection with such meetings; <I>provided</I>, that the holders of the
Designated Preferred Stock shall not be obligated to select such a representative, nor shall such representative, if selected,
be obligated to attend any meeting to which he/she is invited. The rights of the holders of the Designated Preferred Stock set
forth in this Section 7(b) shall terminate when full dividends have been timely paid on the Designated Preferred Stock for at least
four consecutive Dividend Periods, subject to revesting in the event of each and every subsequent default of the character above
mentioned.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.6pt 0pt 5pt; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Preferred Stock Directors</U>. Whenever, at any time or times, (i) dividends on the shares of Designated Preferred Stock
have not been declared and paid in full within five</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5pt; text-align: justify">(5) Business Days after each
Dividend Payment Date for an aggregate of six (6) Dividend Periods or more, whether or not consecutive, and (ii) the aggregate
liquidation preference of the then-outstanding shares of Designated Preferred Stock is greater than or equal to $25,000,000, the
authorized number of directors of the Issuer shall automatically be increased by two and the holders of the Designated Preferred
Stock, voting as a single class, shall have the right, but not the obligation, to elect two directors (hereinafter the &ldquo;<U>Preferred
Directors</U>&rdquo; and each a &ldquo;<U>Preferred Director</U>&rdquo;) to fill such newly created directorships at the Issuer&rsquo;s
next annual meeting of stockholders (or, if the next annual meeting is not yet scheduled or is scheduled to occur more than thirty
days later, the President of the Company shall promptly call a special meeting for that purpose) and at each subsequent annual
meeting of stockholders until full dividends have been timely paid on the Designated Preferred Stock for at least four consecutive
Dividend Periods, at which time such right shall terminate with respect to the Designated Preferred Stock, except as herein or
by law expressly provided, subject to revesting in the event of each and every subsequent default of the character above mentioned;
<I>provided</I> that it shall be a qualification for election for any Preferred Director that the election of such Preferred Director
shall not cause the Issuer to violate any corporate governance requirements of any securities exchange or other trading facility
on which securities of the Issuer may then be listed or traded that listed or traded companies must have a majority of independent
directors. Upon any termination of the right of the holders of shares of Designated Preferred Stock to vote for directors as provided
above, the Preferred Directors shall cease to be qualified as directors, the term of office of all Preferred Directors then in
office shall terminate immediately and the authorized number of directors shall be reduced by the number of Preferred Directors
elected pursuant hereto. Any Preferred Director may be removed at any time, with or without cause, and any vacancy created thereby
may be filled, only by the affirmative vote of the holders a majority of the shares of Designated Preferred Stock at the time outstanding
voting separately as a class. If the office of any Preferred Director becomes vacant for any reason other than removal from office
as aforesaid, the holders of a majority of the outstanding shares of Designated Preferred Stock, voting as a single class, may
choose a successor who shall hold office for the unexpired term in respect of which such vacancy occurred.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.55pt 0pt 5pt; text-align: justify; text-indent: 1in">(d)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Class Voting Rights as to Particular Matters</U>. So long as any shares of Designated Preferred Stock are outstanding,
in addition to any other vote or consent of stockholders required by law or by the Charter, the written consent of (x) Treasury
if Treasury holds any shares of Designated Preferred Stock, or (y) the holders of a majority of the outstanding shares of Designated
Preferred Stock, voting as a single class, if Treasury does not hold any shares of Designated Preferred Stock, shall be necessary
for effecting or validating:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.9pt 0pt 41pt; text-align: justify; text-indent: 1in">(i)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Authorization of Senior Stock</U>. Any amendment or alteration of the Certificate of Designation for the Designated Preferred
Stock or the Charter to authorize or create or increase the authorized amount of, or any issuance of, any shares of, or any securities
convertible into or exchangeable or exercisable for shares of, any class or series of capital stock of the Issuer ranking senior
to Designated Preferred Stock with respect to either or both the payment of dividends and/or the distribution of assets on any
liquidation, dissolution or winding up of the Issuer;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.9pt 0pt 41pt; text-align: justify; text-indent: 1in">(ii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Amendment of Designated Preferred Stock</U>. Any amendment, alteration or repeal of any provision of the Certificate
of Designation for the Designated Preferred Stock or the Charter (including, unless no vote on such merger or consolidation is
required by Section 7(d)(iii) below, any amendment, alteration or repeal by means of a merger, consolidation or otherwise) so as
to adversely affect the rights, preferences, privileges or voting powers of the Designated Preferred Stock;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 41pt; text-align: justify; text-indent: 1in">(iii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Share Exchanges, Reclassifications, Mergers and Consolidations</U>. Subject to Section 7(d)(v) below, any consummation
of a binding share exchange or reclassification involving the Designated Preferred Stock, or of a merger or consolidation of the
Issuer with another corporation or other entity, unless in each case (x) the shares of Designated Preferred Stock remain outstanding
or, in the case of any such merger or consolidation with respect to which the Issuer is not the surviving or resulting entity,
are converted into or exchanged for preference securities of the surviving or resulting entity or its ultimate parent, and (y)
such shares remaining outstanding or such preference securities, as the case may be, have such rights, preferences, privileges
and voting powers, and limitations and restrictions thereof that are the same as the rights, preferences, privileges and voting
powers, and limitations and restrictions thereof, of Designated Preferred Stock immediately prior to such consummation, taken as
a whole; <U>provided</U>, that in all cases, the obligations of the Issuer are assumed (by operation of law or by express written
assumption) by the resulting entity or its ultimate parent;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.95pt 0pt 41pt; text-align: justify; text-indent: 1in">(iv)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Certain Asset Sales</U>. Any sale of all, substantially all, or any material portion of, the assets of the Company, if
the Designated Preferred Stock will not be redeemed in full contemporaneously with the consummation of such sale; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.95pt 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.9pt 0pt 41pt; text-align: justify; text-indent: 1in">(v)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Holding Company Transactions</U>. Any consummation of a Holding Company Transaction, unless as a result of the Holding
Company Transaction each share of Designated Preferred Stock shall be converted into or exchanged for one share with an equal liquidation
preference of preference securities of the Issuer or the Acquiror (the &ldquo;<U>Holding Company Preferred Stock</U>&rdquo;). Any
such Holding Company Preferred Stock shall entitle holders thereof to dividends from the date of issuance of such Holding Company
Preferred Stock on terms that are equivalent to the terms set forth herein, and shall have such other rights, preferences, privileges
and voting powers, and limitations and restrictions thereof that are the same as the rights, preferences, privileges and voting
powers, and limitations and restrictions thereof, of Designated Preferred Stock immediately prior to such conversion or exchange,
taken as a whole;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.75pt 0pt 5pt; text-align: justify"><I>provided</I>, <I>however</I>,
that for all purposes of this Section 7(d), any increase in the amount of the authorized Preferred Stock, including any increase
in the authorized amount of Designated Preferred Stock necessary to satisfy preemptive or similar rights granted by the Issuer
or CFB to other persons prior to the Signing Date, or the creation and issuance, or an increase in the authorized or issued amount,
whether pursuant to preemptive or similar rights or otherwise, of any other series of Preferred Stock, or any securities convertible
into or exchangeable or exercisable for any other series of Preferred Stock, ranking equally with and/or junior to Designated Preferred
Stock with respect to the payment of dividends (whether such dividends are cumulative or non-cumulative) and the distribution of
assets upon liquidation, dissolution or winding up of the Issuer will not be deemed to adversely affect the rights, preferences,
privileges or voting powers, and shall not require the affirmative vote or consent of, the holders of outstanding shares of the
Designated Preferred Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.85pt 0pt 5pt; text-align: justify; text-indent: 1in">(e)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Changes after Provision for Redemption</U>. No vote or consent of the holders of Designated Preferred Stock shall be
required pursuant to Section 7(d) above if, at or prior to the time when any such vote or consent would otherwise be required pursuant
to such Section, all outstanding shares of the Designated Preferred Stock shall have been redeemed, or shall have been called for
redemption upon proper notice and sufficient funds shall have been deposited in trust for such redemption, in each case pursuant
to Section 5 above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.9pt 0pt 5pt; text-align: justify; text-indent: 1in">(f)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Procedures for Voting and Consents</U>. The rules and procedures for calling and conducting any meeting of the holders
of Designated Preferred Stock (including, without limitation, the fixing of a record date in connection therewith), the solicitation
and use of proxies at such a meeting, the obtaining of written consents and any other aspect or matter with regard to such a meeting
or such consents shall be governed by any rules of the Board of Directors or any duly authorized committee of the Board of Directors,
in its discretion, may adopt from time to time, which rules and procedures shall conform to the requirements of the Charter, the
Bylaws, and applicable law and the rules of any national securities exchange or other trading facility on which Designated Preferred
Stock is listed or traded at the time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 77pt">Section 8. <U>Restriction on Redemptions and Repurchases</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.7pt 0pt 5pt; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Subject to Sections 8(b) and (c), so long as any share of Designated Preferred Stock remains outstanding, the Issuer may
repurchase or redeem any shares of Capital Stock (as defined below), in each case only if (i) after giving effect to such dividend,
repurchase or redemption, the Issuer&rsquo;s Tier 1 capital would be at least equal to the Tier 1 Dividend Threshold and (ii) dividends
on all outstanding shares of Designated Preferred Stock for the most recently completed Dividend Period have been or are contemporaneously
declared and paid (or have been declared and a sum sufficient for the payment thereof has been set aside for the benefit of the
holders of shares of Designated Preferred Stock on the applicable record date).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.6pt 0pt 5pt; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>If a dividend is not declared and paid on the Designated Preferred Stock in respect of any Dividend Period, then from the
last day of such Dividend Period until the last day of the third (3rd) Dividend Period immediately following it, neither the Issuer
nor any Issuer Subsidiary shall, redeem, purchase or acquire any shares of Common Stock, Junior Stock, Parity Stock or other capital
stock or other equity securities of any kind of the Issuer or any Issuer Subsidiary, or any trust preferred securities issued by
the Issuer or any Affiliate of the Issuer (&ldquo;Capital Stock&rdquo;), (other than (i) redemptions, purchases, repurchases or
other acquisitions of the Designated Preferred Stock and (ii) repurchases of Junior Stock or Common Stock in connection with the
administration of any employee benefit plan in the ordinary course of business (including purchases to offset any Share Dilution
Amount pursuant to a publicly announced repurchase plan) and consistent with past practice; <I>provided</I> that any purchases
to offset the Share Dilution Amount shall in no event exceed the Share Dilution Amount, (iii) the acquisition by the Issuer or
any of the Issuer Subsidiaries of record ownership in Junior Stock or Parity Stock for the beneficial ownership of any other persons
(other than the Issuer or any other Issuer Subsidiary), including as trustees or custodians, (iv) the exchange or conversion of
Junior Stock for or into other Junior Stock or of Parity Stock or trust preferred securities for or into other Parity Stock (with
the same or lesser aggregate liquidation amount) or Junior Stock, in each case set forth in this clause (iv), solely to the extent
required pursuant to binding contractual agreements entered into by CFB prior to the Signing Date or any subsequent agreement for
the accelerated exercise, settlement or exchange thereof for Common Stock, (v) redemptions of securities held by the Issuer or
any wholly-owned Issuer Subsidiary or (vi) redemptions, purchases or other acquisitions of capital stock or other equity securities
of any kind of any Issuer Subsidiary required pursuant to binding contractual agreements entered into prior to (x) if Treasury
held Previously Acquired Preferred Shares immediately prior to the Original Issue Date, the original issue date of such Previously
Acquired Preferred Shares, or (y) otherwise, the Signing Date).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.75pt 0pt 5pt; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>If the Issuer is not Publicly-Traded, then after the tenth (10th) anniversary of the Signing Date, so long as any share
of Designated Preferred Stock remains outstanding, no Common Stock, Junior Stock or Parity Stock shall be, directly or indirectly,
purchased, redeemed or otherwise acquired for consideration by the Issuer or any of its subsidiaries.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.1pt 0pt 5pt; text-align: justify; text-indent: 71.95pt">Section
9. <U>No Preemptive Rights</U>. No share of Designated Preferred Stock shall have any rights of preemption whatsoever as to any
securities of the Issuer, or any warrants, rights or options issued or granted with respect thereto, regardless of how such securities,
or such warrants, rights or options, may be designated, issued or granted.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.6pt 0pt 5pt; text-align: justify; text-indent: 71.95pt">Section
10. <U>References to Line Items of Supplemental Reports</U>. If Treasury modifies the form of Supplemental Report, pursuant to
its rights under the Definitive Agreement, and any such modification includes a change to the caption or number of any line item
on the Supplemental Report, then any reference herein to such line item shall thereafter be a reference to such re-captioned or
re-numbered line item.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.2pt 0pt 5pt; text-align: justify; text-indent: 71.95pt">Section
11. <U>Record Holders</U>. To the fullest extent permitted by applicable law, the Issuer and the transfer agent for Designated
Preferred Stock may deem and treat the record holder of any share of Designated Preferred Stock as the true and lawful owner thereof
for all purposes, and neither the Issuer nor such transfer agent shall be affected by any notice to the contrary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6pt 0pt 5pt; text-align: justify; text-indent: 71.95pt">Section
12. <U>Notices</U>. All notices or communications in respect of Designated Preferred Stock shall be sufficiently given if given
in writing and delivered in person or by first class mail, postage prepaid, or if given in such other manner as may be permitted
in this Certificate of Designation, in the Charter or Bylaws or by applicable law. Notwithstanding the foregoing, if shares of
Designated Preferred Stock are issued in book-entry form through The Depository Trust Company or any similar facility, such notices
may be given to the holders of Designated Preferred Stock in any manner permitted by such facility.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.95pt 0pt 5pt; text-align: justify; text-indent: 71.95pt">Section
13. <U>Replacement Certificates</U>. The Issuer shall replace any mutilated certificate at the holder&rsquo;s expense upon surrender
of that certificate to the Issuer. The Issuer shall replace certificates that become destroyed, stolen or lost at the holder&rsquo;s
expense upon delivery to the Issuer of reasonably satisfactory evidence that the certificate has been destroyed, stolen or lost,
together with any indemnity that may be reasonably required by the Issuer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><U>Section 14. Other
Rights. The shares of Designated Preferred Stock shall not have any rights, preferences, privileges or voting powers or relative,
participating, optional or other special rights, or qualifications, limitations or restrictions thereof, other than as set forth
herein or in the Charter or as provided by applicable law.</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">EXHIBIT 2</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[CERTIFICATE OF DESIGNATIONS AND STANDARD
PROVISIONS ON NEXT PAGE]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CERTIFICATE OF DESIGNATIONS<BR>
<BR>
OF<BR>
<BR>
<FONT STYLE="text-transform: uppercase">Series A Preferred Stock, par value $0.01 per share</FONT><BR>
<BR>
OF<BR>
<BR>
SIMMONS FIRST NATIONAL CORPORATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Simmons First National
Corporation, a Corporation organized and existing under the laws of the state of Arkansas (herein called the &ldquo;<U>Corporation</U>&rdquo;
or the &ldquo;<U>Issuer</U>&rdquo;), does hereby certify:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">That, pursuant to the
authority conferred upon the Board of Directors of the Corporation (the &ldquo;<U>Board of Directors</U>&rdquo;) by the Amended
and Restated Articles of Incorporation and Bylaws of the Corporation, and pursuant to Section 4-27-602 of the Arkansas Business
Corporation Act of 1987, as amended, the Board of Directors adopted the following resolutions by written consent on February 11,
2019, creating a series of 40,000 shares of Preferred Stock, par value $0.01 per share, of the Issuer designated as &ldquo;<U>Series
A Preferred Stock, Par Value $0.01 Per Share</U>&rdquo;:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>RESOLVED</B>, that
pursuant to the authority expressly granted and vested in the Board of Directors in accordance with the provisions of its Amended
and Restated Articles of Incorporation and Bylaws of the Corporation and applicable law, a series of Preferred Stock, par value
$0.01 per share, of the Corporation be and hereby is created, and that the designation and number of shares of such series, and
the voting and other powers, preferences and relative, participating, optional or other rights, and the qualifications, limitations
and restrictions thereof, of the shares of such series, are as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Part 1. <U>Designation
and Number of Shares.</U> There is hereby created out of the authorized and unissued shares of preferred stock of the Issuer a
series of preferred stock designated as the &ldquo;Series A Preferred Stock, Par Value $0.01 Per Share&rdquo; (the &ldquo;<U>Designated
Preferred Stock</U>&rdquo;). The authorized number of shares of Designated Preferred Stock shall be 40,000.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Part 2. <U>Standard
Provisions.</U> The Standard Provisions contained in Schedule A attached hereto are incorporated herein by reference in their entirety
and shall be deemed to be a part of this Certificate of Designation to the same extent as if such provisions had been set forth
in full herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Part. 3. <U>Definitions.</U>
The following terms are used in this Certificate of Designation (including the Standard Provisions in Schedule A hereto) as defined
below:</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&ldquo;<U>Common Stock</U>&rdquo; means the Class A Common Stock, par value $0.01 per share, of the Issuer.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&ldquo;<U>Dividend Payment Date</U>&rdquo; means February 15, May 15, August 15 and November 15 of each year.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&ldquo;<U>Junior Stock</U>&rdquo; means the Common Stock and any other class or series of stock of the Issuer the terms of which
expressly provide that it ranks junior to Designated Preferred Stock as to dividend rights and/or as to rights on liquidation,
dissolution or winding up of the Issuer.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&ldquo;<U>Liquidation Amount</U>&rdquo; means $1,000 per share of Designated Preferred Stock.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&ldquo;<U>Minimum Amount</U>&rdquo; means $10,000,000.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&ldquo;<U>Parity Stock</U>&rdquo; means any class or series of stock of the Issuer (other than Designated Preferred Stock) the
terms of which do not expressly provide that such class or series will rank senior or junior to Designated Preferred Stock as to
dividend rights and/or as to rights on liquidation, dissolution or winding up of the Issuer (in each case without regard to whether
dividends accrue cumulatively or non-cumulatively). Without limiting the foregoing, Parity Stock shall include the Issuer&rsquo;s
Series B Preferred Stock, Par Value $0.01 Per Share.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&ldquo;<U>Signing Date</U>&rdquo; means the Original Issue Date.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Part. 4. <U>Certain
Voting Matters.</U> Holders of shares of Designated Preferred Stock will be entitled to one vote for each such share on any matter
on which holders of Designated Preferred Stock are entitled to vote, including any action by written consent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">IN WITNESS WHEREOF,
Simmons First National Corporation has caused this Certificate of Designations to be signed by George A. Makris, Jr., its Chairman
and Chief Executive Officer, and Patrick A. Borrow, its Secretary, has affixed its corporate seal hereto and attested said seal
on this 12th day of February, 2019.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="vertical-align: middle">SIMMONS FIRST NATIONAL CORPORATION</TD></TR>
<TR>
    <TD STYLE="vertical-align: middle; width: 5%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 27%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 10%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 5%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 27%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 26%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: middle">By:</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid">/s/ Patrick A. Burrow</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">By:</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid">/s/ George A. Makris, Jr.</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: middle">Name:</TD>
    <TD STYLE="vertical-align: middle">Patrick A. Burrow</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">Name:</TD>
    <TD STYLE="vertical-align: middle">George A. Makris, Jr.</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: middle">Title:</TD>
    <TD STYLE="vertical-align: middle">Executive Vice President,&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">Title:</TD>
    <TD COLSPAN="2" STYLE="vertical-align: middle">Chairman and Chief Executive Officer</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: middle">General Counsel and Secretary</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
</TABLE>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: right"><B>Schedule A</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>STANDARD PROVISIONS</U></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>General Matters.</U> Each share of Designated Preferred Stock shall be identical in all respects to every other share
of Designated Preferred Stock. The Designated Preferred Stock shall be perpetual, subject to the provisions of Section 5 of these
Standard Provisions that form a part of the Certificate of Designations. The Designated Preferred Stock shall rank equally with
Parity Stock and shall rank senior to Junior Stock with respect to the payment of dividends and the distribution of assets in the
event of any dissolution, liquidation or winding up of the Issuer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Standard Definitions.</U> As used herein with respect to Designated Preferred Stock:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&ldquo;<U>Applicable Dividend Rate</U>&rdquo; means (i) during the period from the Reliance Original Issue Date to, but excluding,
the first day of the first Dividend Period commencing on or after the fifth anniversary of the Reliance Original Issue Date, 5%
per annum and (ii) from and after the first day of the first Dividend Period commencing on or after the fifth anniversary of the
Reliance Original Issue Date, 9% per annum.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&ldquo;<U>Appropriate Federal Banking Agency</U>&rdquo; means the &ldquo;appropriate Federal banking agency&rdquo; with respect
to the Issuer as defined in Section 3(q) of the Federal Deposit Insurance Act (12 U.S.C. Section 1813(q)), or any successor provision.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&ldquo;<U>Business Combination</U>&rdquo; means a merger, consolidation, statutory share exchange or similar transaction that requires
the approval of the Issuer&rsquo;s stockholders.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&ldquo;<U>Business Day</U>&rdquo; means any day except Saturday, Sunday and any day on which banking institutions in the State
of New York generally are authorized or required by law or other governmental actions to close.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&ldquo;<U>Bylaws</U>&rdquo; means the bylaws of the Issuer, as they may be amended from time to time.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&ldquo;<U>Certificate of Designations</U>&rdquo; means the Certificate of Designations or comparable instrument relating to the
Designated Preferred Stock, of which these Standard Provisions form a part, as it may be amended from time to time.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&ldquo;<U>Charter</U>&rdquo; means the Issuer&rsquo;s certificate or articles of incorporation, articles of association, or similar
organizational document.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&ldquo;<U>Dividend Period</U>&rdquo; has the meaning set forth in Section 3(a).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&ldquo;<U>Dividend Record Date</U>&rdquo; has the meaning set forth in Section 3(a).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(j)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&ldquo;<U>Effective Time</U>&rdquo; has the meaning set forth in the Merger Agreement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(k)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&ldquo;<U>Liquidation Preference</U>&rdquo; has the meaning set forth in Section 4(a).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(l)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&ldquo;<U>Merger Agreement</U>&rdquo; means the Agreement and Plan of Merger, dated November 13, 2018, as amended on February 11,
2019, by and between the Issuer and Reliance Bancshares, Inc.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(m)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&ldquo;<U>Original Issue Date</U>&rdquo; means the date on which the Effective Time occurs.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(n)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&ldquo;<U>Preferred Director</U>&rdquo; has the meaning set forth in Section 7(b).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(o)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&ldquo;<U>Preferred Stock</U>&rdquo; means any and all series of preferred stock of the Issuer, including the Designated Preferred
Stock.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(p)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&ldquo;<U>Qualified Equity Offering</U>&rdquo; means the sale and issuance for cash by the Issuer to persons other than the Issuer
or any of its subsidiaries after the Reliance Original Issue Date of shares of perpetual Preferred Stock, Common Stock or any combination
of such stock, that, in each case, qualify as and may be included in Tier 1 capital of the Issuer at the time of issuance under
the applicable risk-based capital guidelines of the Issuer&rsquo;s Appropriate Federal Banking Agency (other than any such sales
and issuances made pursuant to agreements or arrangements entered into, or pursuant to financing plans which were publicly announced,
on or prior to November 17, 2008).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(q)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&ldquo;<U>Reliance Original Issue Date</U>&rdquo; means February 13, 2009, the date on which Reliance Bancshares, Inc. first issued
Fixed Rate Cumulative Perpetual Preferred Stock, no par value, Series A.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(r)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&ldquo;<U>Standard Provisions</U>&rdquo; mean these Standard Provisions that form a part of the Certificate of Designations relating
to the Designated Preferred Stock.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(s)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&ldquo;<U>Successor Preferred Stock</U>&rdquo; has the meaning set forth in Section 5(a).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(t)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&ldquo;<U>Voting Parity Stock</U>&rdquo; means, with regard to any matter as to which the holders of Designated Preferred Stock
are entitled to vote as specified in Sections 7(a) and 7(b) of these Standard Provisions that form a part of the Certificate of
Designations, any and all series of Parity Stock upon which like voting rights have been conferred and are exercisable with respect
to such matter.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 3.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Dividends.</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Rate.</U> Holders of Designated Preferred Stock shall be entitled to receive, on each share of Designated Preferred Stock if,
as and when declared by the Board of Directors or any duly authorized committee of the Board of Directors, but only out of assets
legally available therefor, cumulative cash dividends with respect to each Dividend Period (as defined below) at a rate per annum
equal to the Applicable Dividend Rate on (i) the Liquidation Amount per share of Designated Preferred Stock and (ii) the amount
of accrued and unpaid dividends for any prior Dividend Period on such share of Designated Preferred Stock, if any. Such dividends
shall begin to accrue and be cumulative from the Original Issue Date, shall compound on each subsequent Dividend Payment Date (<I>i.e.,
</I>no dividends shall accrue on other dividends unless and until the first Dividend Payment Date for such other dividends has
passed without such other dividends having been paid on such date) and shall be payable quarterly in arrears on each Dividend Payment
Date, commencing with the first such Dividend Payment Date to occur at least 20 calendar days after the Original Issue Date. In
the event that any Dividend Payment Date would otherwise fall on a day that is not a Business Day, the dividend payment due on
that date will be postponed to the next day that is a Business Day and no additional dividends will accrue as a result of that
postponement. The period from and including any Dividend Payment Date to, but excluding, the next Dividend Payment Date is a &ldquo;<U>Dividend
Period</U>&rdquo;, provided that the initial Dividend Period shall be the period from and including the Original Issue Date to,
but excluding, the next Dividend Payment Date.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Dividends that are
payable on Designated Preferred Stock in respect of any Dividend Period shall be computed on the basis of a 360-day year consisting
of twelve 30-day months. The amount of dividends payable on Designated Preferred Stock on any date prior to the end of a Dividend
Period, and for the initial Dividend Period, shall be computed on the basis of a 360-day year consisting of twelve 30-day months,
and actual days elapsed over a 30-day month.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Dividends that are
payable on Designated Preferred Stock on any Dividend Payment Date will be payable to holders of record of Designated Preferred
Stock as they appear on the stock register of the Issuer on the applicable record date, which shall be the 15th calendar day immediately
preceding such Dividend Payment Date or such other record date fixed by the Board of Directors or any duly authorized committee
of the Board of Directors that is not more than 60 nor less than 10 days prior to such Dividend Payment Date (each, a &ldquo;<U>Dividend
Record Date</U>&rdquo;). Any such day that is a Dividend Record Date shall be a Dividend Record Date whether or not such day is
a Business Day.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Holders of Designated
Preferred Stock shall not be entitled to any dividends, whether payable in cash, securities or other property, other than dividends
(if any) declared and payable on Designated Preferred Stock as specified in this Section 3 (subject to the other provisions of
the Certificate of Designations).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Priority of Dividends.</U> So long as any share of Designated Preferred Stock remains outstanding, no dividend or distribution
shall be declared or paid on the Common Stock or any other shares of Junior Stock (other than dividends payable solely in shares
of Common Stock) or Parity Stock, subject to the immediately following paragraph in the case of Parity Stock, and no Common Stock,
Junior Stock or Parity Stock shall be, directly or indirectly, purchased, redeemed or otherwise acquired for consideration by the
Issuer or any of its subsidiaries unless all accrued and unpaid dividends for all past Dividend Periods, including the latest completed
Dividend Period (including, if applicable as provided in Section 3(a) above, dividends on such amount), on all outstanding shares
of Designated Preferred Stock have been or are contemporaneously declared and paid in full (or have been declared and a sum sufficient
for the payment thereof has been set aside for the benefit of the holders of shares of Designated Preferred Stock on the applicable
record date). The foregoing limitation shall not apply to (i) redemptions, purchases or other acquisitions of shares of Common
Stock or other Junior Stock in connection with the administration of any employee benefit plan in the ordinary course of business
and consistent with past practice; (ii) the acquisition by the Issuer or any of its subsidiaries of record ownership in Junior
Stock or Parity Stock for the beneficial ownership of any other persons (other than the Issuer or any of its subsidiaries), including
as trustees or custodians; and (iii) the exchange or conversion of Junior Stock for or into other Junior Stock or of Parity Stock
for or into other Parity Stock (with the same or lesser aggregate liquidation amount) or Junior Stock, in each case, solely to
the extent required pursuant to binding contractual agreements entered into prior to the Signing Date or any subsequent agreement
for the accelerated exercise, settlement or exchange thereof for Common Stock.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">When dividends are
not paid (or declared and a sum sufficient for payment thereof set aside for the benefit of the holders thereof on the applicable
record date) on any Dividend Payment Date (or, in the case of Parity Stock having dividend payment dates different from the Dividend
Payment Dates, on a dividend payment date falling within a Dividend Period related to such Dividend Payment Date) in full upon
Designated Preferred Stock and any shares of Parity Stock, all dividends declared on Designated Preferred Stock and all such Parity
Stock and payable on such Dividend Payment Date (or, in the case of Parity Stock having dividend payment dates different from the
Dividend Payment Dates, on a dividend payment date falling within the Dividend Period related to such Dividend Payment Date) shall
be declared <I>pro rata </I>so that the respective amounts of such dividends declared shall bear the same ratio to each other as
all accrued and unpaid dividends per share on the shares of Designated Preferred Stock (including, if applicable as provided in
Section 3(a) above, dividends on such amount) and all Parity Stock payable on such Dividend Payment Date (or, in the case of Parity
Stock having dividend payment dates different from the Dividend Payment Dates, on a dividend payment date falling within the Dividend
Period related to such Dividend Payment Date) (subject to their having been declared by the Board of Directors or a duly authorized
committee of the Board of Directors out of legally available funds and including, in the case of Parity Stock that bears cumulative
dividends, all accrued but unpaid dividends) bear to each other. If the Board of Directors or a duly authorized committee of the
Board of Directors determines not to pay any dividend or a full dividend on a Dividend Payment Date, the Issuer will provide written
notice to the holders of Designated Preferred Stock prior to such Dividend Payment Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Subject to the foregoing,
and not otherwise, such dividends (payable in cash, securities or other property) as may be determined by the Board of Directors
or any duly authorized committee of the Board of Directors may be declared and paid on any securities, including Common Stock and
other Junior Stock, from time to time out of any funds legally available for such payment, and holders of Designated Preferred
Stock shall not be entitled to participate in any such dividends.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 4.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Liquidation Rights.</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Voluntary or Involuntary Liquidation.</U> In the event of any liquidation, dissolution or winding up of the affairs of the Issuer,
whether voluntary or involuntary, holders of Designated Preferred Stock shall be entitled to receive for each share of Designated
Preferred Stock, out of the assets of the Issuer or proceeds thereof (whether capital or surplus) available for distribution to
stockholders of the Issuer, subject to the rights of any creditors of the Issuer, before any distribution of such assets or proceeds
is made to or set aside for the holders of Common Stock and any other stock of the Issuer ranking junior to Designated Preferred
Stock as to such distribution, payment in full in an amount equal to the sum of (i) the Liquidation Amount per share and (ii) the
amount of any accrued and unpaid dividends (including, if applicable as provided in Section 3(a) above, dividends on such amount),
whether or not declared, to the date of payment (such amounts collectively, the &ldquo;<U>Liquidation Preference</U>&rdquo;).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Partial Payment.</U> If in any distribution described in Section 4(a) above the assets of the Issuer or proceeds thereof are
not sufficient to pay in full the amounts payable with respect to all outstanding shares of Designated Preferred Stock and the
corresponding amounts payable with respect of any other stock of the Issuer ranking equally with Designated Preferred Stock as
to such distribution, holders of Designated Preferred Stock and the holders of such other stock shall share ratably in any such
distribution in proportion to the full respective distributions to which they are entitled.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Residual Distributions.</U> If the Liquidation Preference has been paid in full to all holders of Designated Preferred Stock
and the corresponding amounts payable with respect of any other stock of the Issuer ranking equally with Designated Preferred Stock
as to such distribution has been paid in full, the holders of other stock of the Issuer shall be entitled to receive all remaining
assets of the Issuer (or proceeds thereof) according to their respective rights and preferences.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Merger, Consolidation and Sale of Assets Not Liquidation.</U> For purposes of this Section 4, the merger or consolidation of
the Issuer with any other corporation or other entity, including a merger or consolidation in which the holders of Designated Preferred
Stock receive cash, securities or other property for their shares, or the sale, lease or exchange (for cash, securities or other
property) of all or substantially all of the assets of the Issuer, shall not constitute a liquidation, dissolution or winding up
of the Issuer.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 5.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Redemption.</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Optional Redemption.</U> Except as provided below, the Designated Preferred Stock may not be redeemed prior to the first Dividend
Payment Date falling on or after the third anniversary of the Reliance Original Issue Date. On or after the first Dividend Payment
Date falling on or after the third anniversary of the Reliance Original Issue Date, the Issuer, at its option, subject to the approval
of the Appropriate Federal Banking Agency, may redeem, in whole or in part, at any time and from time to time, out of funds legally
available therefor, the shares of Designated Preferred Stock at the time outstanding, upon notice given as provided in Section
5(c) below, at a redemption price equal to the sum of (i) the Liquidation Amount per share and (ii) except as otherwise provided
below, any accrued and unpaid dividends (including, if applicable as provided in Section 3(a) above, dividends on such amount)
(regardless of whether any dividends are actually declared) to, but excluding, the date fixed for redemption.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Notwithstanding the
foregoing, prior to the first Dividend Payment Date falling on or after the third anniversary of the Reliance Original Issue Date,
the Issuer, at its option, subject to the approval of the Appropriate Federal Banking Agency, may redeem, in whole or in part,
at any time and from time to time, the shares of Designated Preferred Stock at the time outstanding, upon notice given as provided
in Section 5(c) below, at a redemption price equal to the sum of (i) the Liquidation Amount per share and (ii) except as otherwise
provided below, any accrued and unpaid dividends (including, if applicable as provided in Section 3(a) above, dividends on such
amount) (regardless of whether any dividends are actually declared) to, but excluding, the date fixed for redemption; <I>provided
</I>that (x) the Issuer (or any successor by Business Combination) has received aggregate gross proceeds of not less than the Minimum
Amount (plus the &ldquo;Minimum Amount&rdquo; as defined in the relevant certificate of designations for each other outstanding
series of preferred stock of such successor that was originally issued to the United States Department of the Treasury (the &ldquo;<U>Successor
Preferred Stock</U>&rdquo;) in connection with the Troubled Asset Relief Program Capital Purchase Program) from one or more Qualified
Equity Offerings (including Qualified Equity Offerings of such successor), and (y) the aggregate redemption price of the Designated
Preferred Stock (and any Successor Preferred Stock) redeemed pursuant to this paragraph may not exceed the aggregate net cash proceeds
received by the Issuer (or any successor by Business Combination) from such Qualified Equity Offerings (including Qualified Equity
Offerings of such successor).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The redemption price
for any shares of Designated Preferred Stock shall be payable on the redemption date to the holder of such shares against surrender
of the certificate(s) evidencing such shares to the Issuer or its agent. Any declared but unpaid dividends payable on a redemption
date that occurs subsequent to the Dividend Record Date for a Dividend Period shall not be paid to the holder entitled to receive
the redemption price on the redemption date, but rather shall be paid to the holder of record of the redeemed shares on such Dividend
Record Date relating to the Dividend Payment Date as provided in Section 3 above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>No Sinking Fund.</U> The Designated Preferred Stock will not be subject to any mandatory redemption, sinking fund or other similar
provisions. Holders of Designated Preferred Stock will have no right to require redemption or repurchase of any shares of Designated
Preferred Stock.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Notice of Redemption.</U> Notice of every redemption of shares of Designated Preferred Stock shall be given by first class mail,
postage prepaid, addressed to the holders of record of the shares to be redeemed at their respective last addresses appearing on
the books of the Issuer. Such mailing shall be at least 30 days and not more than 60 days before the date fixed for redemption.
Any notice mailed as provided in this Subsection shall be conclusively presumed to have been duly given, whether or not the holder
receives such notice, but failure duly to give such notice by mail, or any defect in such notice or in the mailing thereof, to
any holder of shares of Designated Preferred Stock designated for redemption shall not affect the validity of the proceedings for
the redemption of any other shares of Designated Preferred Stock. Notwithstanding the foregoing, if shares of Designated Preferred
Stock are issued in book-entry form through The Depository Trust Company or any other similar facility, notice of redemption may
be given to the holders of Designated Preferred Stock at such time and in any manner permitted by such facility. Each notice of
redemption given to a holder shall state: (1) the redemption date; (2) the number of shares of Designated Preferred Stock to be
redeemed and, if less than all the shares held by such holder are to be redeemed, the number of such shares to be redeemed from
such holder; (3) the redemption price; and (4) the place or places where certificates for such shares are to be surrendered for
payment of the redemption price.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Partial Redemption.</U> In case of any redemption of part of the shares of Designated Preferred Stock at the time outstanding,
the shares to be redeemed shall be selected either <I>pro rata </I>or in such other manner as the Board of Directors or a duly
authorized committee thereof may determine to be fair and equitable. Subject to the provisions hereof, the Board of Directors or
a duly authorized committee thereof shall have full power and authority to prescribe the terms and conditions upon which shares
of Designated Preferred Stock shall be redeemed from time to time. If fewer than all the shares represented by any certificate
are redeemed, a new certificate shall be issued representing the unredeemed shares without charge to the holder thereof.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Effectiveness of Redemption.</U> If notice of redemption has been duly given and if on or before the redemption date specified
in the notice all funds necessary for the redemption have been deposited by the Issuer, in trust for the <I>pro rata </I>benefit
of the holders of the shares called for redemption, with a bank or trust company doing business in the Borough of Manhattan, The
City of New York, and having a capital and surplus of at least $500 million and selected by the Board of Directors, so as to be
and continue to be available solely therefor, then, notwithstanding that any certificate for any share so called for redemption
has not been surrendered for cancellation, on and after the redemption date dividends shall cease to accrue on all shares so called
for redemption, all shares so called for redemption shall no longer be deemed outstanding and all rights with respect to such shares
shall forthwith on such redemption date cease and terminate, except only the right of the holders thereof to receive the amount
payable on such redemption from such bank or trust company, without interest. Any funds unclaimed at the end of three years from
the redemption date shall, to the extent permitted by law, be released to the Issuer, after which time the holders of the shares
so called for redemption shall look only to the Issuer for payment of the redemption price of such shares.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Status of Redeemed Shares.</U> Shares of Designated Preferred Stock that are redeemed, repurchased or otherwise acquired by
the Issuer shall revert to authorized but unissued shares of Preferred Stock (<I>provided </I>that any such cancelled shares of
Designated Preferred Stock may be reissued only as shares of any series of Preferred Stock other than Designated Preferred Stock).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 6.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Conversion.</U> Holders of Designated Preferred Stock shares shall have no right to exchange or convert such shares into
any other securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 7.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Voting Rights.</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>General.</U> The holders of Designated Preferred Stock shall not have any voting rights except as set forth below or as otherwise
from time to time required by law.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Preferred Stock Directors.</U> Whenever, at any time or times, dividends payable on the shares of Designated Preferred Stock
have not been paid for an aggregate of six quarterly Dividend Periods or more, whether or not consecutive, the authorized number
of directors of the Issuer shall automatically be increased by two and the holders of the Designated Preferred Stock shall have
the right, with holders of shares of any one or more other classes or series of Voting Parity Stock outstanding at the time, voting
together as a class, to elect two directors (hereinafter the &ldquo;<U>Preferred Directors</U>&rdquo; and each a &ldquo;<U>Preferred
Director</U>&rdquo;) to fill such newly created directorships at the Issuer&rsquo;s next annual meeting of stockholders (or at
a special meeting called for that purpose prior to such next annual meeting) and at each subsequent annual meeting of stockholders
until all accrued and unpaid dividends for all past Dividend Periods, including the latest completed Dividend Period (including,
if applicable as provided in Section 3(a) above, dividends on such amount), on all outstanding shares of Designated Preferred Stock
have been declared and paid in full at which time such right shall terminate with respect to the Designated Preferred Stock, except
as herein or by law expressly provided, subject to revesting in the event of each and every subsequent default of the character
above mentioned; <I>provided </I>that it shall be a qualification for election for any Preferred Director that the election of
such Preferred Director shall not cause the Issuer to violate any corporate governance requirements of any securities exchange
or other trading facility on which securities of the Issuer may then be listed or traded that listed or traded companies must have
a majority of independent directors. Upon any termination of the right of the holders of shares of Designated Preferred Stock and
Voting Parity Stock as a class to vote for directors as provided above, the Preferred Directors shall cease to be qualified as
directors, the term of office of all Preferred Directors then in office shall terminate immediately and the authorized number of
directors shall be reduced by the number of Preferred Directors elected pursuant hereto. Any Preferred Director may be removed
at any time, with or without cause, and any vacancy created thereby may be filled, only by the affirmative vote of the holders
a majority of the shares of Designated Preferred Stock at the time outstanding voting separately as a class together with the holders
of shares of Voting Parity Stock, to the extent the voting rights of such holders described above are then exercisable. If the
office of any Preferred Director becomes vacant for any reason other than removal from office as aforesaid, the remaining Preferred
Director may choose a successor who shall hold office for the unexpired term in respect of which such vacancy occurred.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Class Voting Rights as to Particular Matters.</U> So long as any shares of Designated Preferred Stock are outstanding, in addition
to any other vote or consent of stockholders required by law or by the Charter, the vote or consent of the holders of at least
66 2/3% of the shares of Designated Preferred Stock at the time outstanding, voting as a separate class, given in person or by
proxy, either in writing without a meeting or by vote at any meeting called for the purpose, shall be necessary for effecting or
validating:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Authorization of Senior Stock.</U> Any amendment or alteration of the Certificate of Designations for the Designated Preferred
Stock or the Charter to authorize or create or increase the authorized amount of, or any issuance of, any shares of, or any securities
convertible into or exchangeable or exercisable for shares of, any class or series of capital stock of the Issuer ranking senior
to Designated Preferred Stock with respect to either or both the payment of dividends and/or the distribution of assets on any
liquidation, dissolution or winding up of the Issuer;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Amendment of Designated Preferred Stock.</U> Any amendment, alteration or repeal of any provision of the Certificate of Designations
for the Designated Preferred Stock or the Charter (including, unless no vote on such merger or consolidation is required by Section
7(c)(iii) below, any amendment, alteration or repeal by means of a merger, consolidation or otherwise) so as to adversely affect
the rights, preferences, privileges or voting powers of the Designated Preferred Stock; or</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Share Exchanges, Reclassifications, Mergers and Consolidations.</U> Any consummation of a binding share exchange or reclassification
involving the Designated Preferred Stock, or of a merger or consolidation of the Issuer with another corporation or other entity,
unless in each case (x) the shares of Designated Preferred Stock remain outstanding or, in the case of any such merger or consolidation
with respect to which the Issuer is not the surviving or resulting entity, are converted into or exchanged for preference securities
of the surviving or resulting entity or its ultimate parent, and (y) such shares remaining outstanding or such preference securities,
as the case may be, have such rights, preferences, privileges and voting powers, and limitations and restrictions thereof, taken
as a whole, as are not materially less favorable to the holders thereof than the rights, preferences, privileges and voting powers,
and limitations and restrictions thereof, of Designated Preferred Stock immediately prior to such consummation, taken as a whole;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.65pt"><I>provided, however</I>, that for all purposes of
this Section 7(c), any increase in the amount of the authorized Preferred Stock, including any increase in the authorized amount
of Designated Preferred Stock necessary to satisfy preemptive or similar rights granted by the Issuer to other persons prior to
the Signing Date, or the creation and issuance, or an increase in the authorized or issued amount, whether pursuant to preemptive
or similar rights or otherwise, of any other series of Preferred Stock, or any securities convertible into or exchangeable or exercisable
for any other series of Preferred Stock, ranking equally with and/or junior to Designated Preferred Stock with respect to the payment
of dividends (whether such dividends are cumulative or non-cumulative) and the distribution of assets upon liquidation, dissolution
or winding up of the Issuer will not be deemed to adversely affect the rights, preferences, privileges or voting powers, and shall
not require the affirmative vote or consent of, the holders of outstanding shares of the Designated Preferred Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.65pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.65pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Changes after Provision for Redemption.</U> No vote or consent of the holders of Designated Preferred Stock shall be required
pursuant to Section 7(c) above if, at or prior to the time when any such vote or consent would otherwise be required pursuant to
such Section, all outstanding shares of the Designated Preferred Stock shall have been redeemed, or shall have been called for
redemption upon proper notice and sufficient funds shall have been deposited in trust for such redemption, in each case pursuant
to Section 5 above.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Procedures for Voting and Consents.</U> The rules and procedures for calling and conducting any meeting of the holders of Designated
Preferred Stock (including, without limitation, the fixing of a record date in connection therewith), the solicitation and use
of proxies at such a meeting, the obtaining of written consents and any other aspect or matter with regard to such a meeting or
such consents shall be governed by any rules of the Board of Directors or any duly authorized committee of the Board of Directors,
in its discretion, may adopt from time to time, which rules and procedures shall conform to the requirements of the Charter, the
Bylaws, and applicable law and the rules of any national securities exchange or other trading facility on which Designated Preferred
Stock is listed or traded at the time.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 8.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Record Holders.</U> To the fullest extent permitted by applicable law, the Issuer and the transfer agent for Designated
Preferred Stock may deem and treat the record holder of any share of Designated Preferred Stock as the true and lawful owner thereof
for all purposes, and neither the Issuer nor such transfer agent shall be affected by any notice to the contrary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 9.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Notices.</U> All notices or communications in respect of Designated Preferred Stock shall be sufficiently given if given
in writing and delivered in person or by first class mail, postage prepaid, or if given in such other manner as may be permitted
in this Certificate of Designations, in the Charter or Bylaws or by applicable law. Notwithstanding the foregoing, if shares of
Designated Preferred Stock are issued in book-entry form through The Depository Trust Company or any similar facility, such notices
may be given to the holders of Designated Preferred Stock in any manner permitted by such facility.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 10.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>No Preemptive Rights.</U> No share of Designated Preferred Stock shall have any rights of preemption whatsoever as to
any securities of the Issuer, or any warrants, rights or options issued or granted with respect thereto, regardless of how such
securities, or such warrants, rights or options, may be designated, issued or granted.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 11.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Replacement Certificates.</U> The Issuer shall replace any mutilated certificate at the holder&rsquo;s expense upon surrender
of that certificate to the Issuer. The Issuer shall replace certificates that become destroyed, stolen or lost at the holder&rsquo;s
expense upon delivery to the Issuer of reasonably satisfactory evidence that the certificate has been destroyed, stolen or lost,
together with any indemnity that may be reasonably required by the Issuer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 12.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Other Rights.</U> The shares of Designated Preferred Stock shall not have any rights, preferences, privileges or voting
powers or relative, participating, optional or other special rights, or qualifications, limitations or restrictions thereof, other
than as set forth herein or in the Charter or as provided by applicable law.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">EXHIBIT 3</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[CERTIFICATE OF DESIGNATIONS AND STANDARD
PROVISIONS ON NEXT PAGE]</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CERTIFICATE OF DESIGNATIONS<BR>
<BR>
OF<BR>
<BR>
<FONT STYLE="text-transform: uppercase">Series b Preferred Stock, par value $0.01 per share</FONT><BR>
<BR>
<BR>
OF<BR>
<BR>
SIMMONS FIRST NATIONAL CORPORATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Simmons First National
Corporation, a Corporation organized and existing under the laws of the state of Arkansas (herein called the &ldquo;<U>Corporation</U>&rdquo;
or the &ldquo;<U>Issuer</U>&rdquo;), does hereby certify:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">That, pursuant to the
authority conferred upon the Board of Directors of the Corporation (the &ldquo;<U>Board of Directors</U>&rdquo;) by the Amended
and Restated Articles of Incorporation and Bylaws of the Corporation, and pursuant to Section 4-27-602 of the Arkansas Business
Corporation Act of 1987, as amended, the Board of Directors adopted the following resolutions by written consent on February 11,
2019, creating a series of 2,000.02 shares of Preferred Stock, par value $0.01 per share, of the Issuer designated as &ldquo;<U>Series
B Preferred Stock, Par Value $0.01 Per Share</U>&rdquo;:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>RESOLVED</B>, that
pursuant to the authority expressly granted and vested in the Board of Directors in accordance with the provisions of its Amended
and Restated Articles of Incorporation and Bylaws of the Corporation and applicable law, a series of Preferred Stock, par value
$0.01 per share, of the Corporation be and hereby is created, and that the designation and number of shares of such series, and
the voting and other powers, preferences and relative, participating, optional or other rights, and the qualifications, limitations
and restrictions thereof, of the shares of such series, are as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Part 1. <U>Designation
and Number of Shares.</U> There is hereby created out of the authorized and unissued shares of preferred stock of the Issuer a
series of preferred stock designated as the &ldquo;Series B Preferred Stock, Par Value $0.01 Per Share&rdquo; (the &ldquo;<U>Designated
Preferred Stock</U>&rdquo;). The authorized number of shares of Designated Preferred Stock shall be 2,000.02.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Part 2. <U>Standard
Provisions.</U> The Standard Provisions contained in Schedule A attached hereto are incorporated herein by reference in their entirety
and shall be deemed to be a part of this Certificate of Designation to the same extent as if such provisions had been set forth
in full herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Part. 3. <U>Definitions.</U>
The following terms are used in this Certificate of Designation (including the Standard Provisions in Schedule A hereto) as defined
below:</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&ldquo;<U>Common Stock</U>&rdquo; means the Class A Common Stock, par value $0.01 per share, of the Issuer.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&ldquo;<U>Dividend Payment Date</U>&rdquo; means February 15, May 15, August 15 and November 15 of each year.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&ldquo;<U>Junior Stock</U>&rdquo; means the Common Stock and any other class or series of stock of the Issuer the terms of which
expressly provide that it ranks junior to Designated Preferred Stock as to dividend rights and/or as to rights on liquidation,
dissolution or winding up of the Issuer.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&ldquo;<U>Liquidation Amount</U>&rdquo; means $1,000 per share of Designated Preferred Stock.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&ldquo;<U>Minimum Amount</U>&rdquo; means $500,000.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&ldquo;<U>Parity Stock</U>&rdquo; means any class or series of stock of the Issuer (other than Designated Preferred Stock) the
terms of which do not expressly provide that such class or series will rank senior or junior to Designated Preferred Stock as to
dividend rights and/or as to rights on liquidation, dissolution or winding up of the Issuer (in each case without regard to whether
dividends accrue cumulatively or non-cumulatively). Without limiting the foregoing, Parity Stock shall include the UST Preferred
Stock.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&ldquo;<U>Signing Date</U>&rdquo; means the Original Issue Date.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&ldquo;<U>UST Preferred Stock</U>&rdquo; means the Issuer&rsquo;s Series A Preferred Stock, Par Value $0.01 Per Share.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Part. 4. <U>Certain
Voting Matters.</U> Holders of shares of Designated Preferred Stock will be entitled to one vote for each such share on any matter
on which holders of Designated Preferred Stock are entitled to vote, including any action by written consent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">IN WITNESS WHEREOF,
Simmons First National Corporation has caused this Certificate of Designations to be signed by George A. Makris, Jr., its Chairman
and Chief Executive Officer, and Patrick A. Borrow, its Secretary, has affixed its corporate seal hereto and attested said seal
on this 12th day of February, 2019.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="vertical-align: middle">SIMMONS FIRST NATIONAL CORPORATION</TD></TR>
<TR>
    <TD STYLE="vertical-align: middle; width: 5%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 27%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 10%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 5%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 27%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 26%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: middle">By:</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid">/s/ Patrick A. Burrow</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">By:</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid">/s/ George A. Makris, Jr.</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: middle">Name:</TD>
    <TD STYLE="vertical-align: middle">Patrick A. Burrow</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">Name:</TD>
    <TD STYLE="vertical-align: middle">George A. Makris, Jr.</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: middle">Title:</TD>
    <TD STYLE="vertical-align: middle">Executive Vice President,&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">Title:</TD>
    <TD COLSPAN="2" STYLE="vertical-align: middle">Chairman and Chief Executive Officer</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: middle">General Counsel and Secretary</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Schedule A</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>STANDARD PROVISIONS</U></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 13.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>General Matters.</U> Each share of Designated Preferred Stock shall be identical in all respects to every other share
of Designated Preferred Stock. The Designated Preferred Stock shall be perpetual, subject to the provisions of Section 5 of these
Standard Provisions that form a part of the Certificate of Designations. The Designated Preferred Stock shall rank equally with
Parity Stock and shall rank senior to Junior Stock with respect to the payment of dividends and the distribution of assets in the
event of any dissolution, liquidation or winding up of the Issuer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 14.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Standard Definitions.</U> As used herein with respect to Designated Preferred Stock:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&ldquo;<U>Appropriate Federal Banking Agency</U>&rdquo; means the &ldquo;appropriate Federal banking agency&rdquo; with respect
to the Issuer as defined in Section 3 (q) of the Federal Deposit Insurance Act (12 U.S.C. Section 1813(q)), or any successor provision.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&ldquo;<U>Business Combination</U>&rdquo; means a merger, consolidation, statutory share exchange or similar transaction that requires
the approval of the Issuer&rsquo;s stockholders.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&ldquo;<U>Business Day</U>&rdquo; means any day except Saturday, Sunday and any day on which banking institutions in the State
of New York generally are authorized or required by law or other governmental actions to close.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&ldquo;<U>Bylaws</U>&rdquo; means the bylaws of the Issuer, as they may be amended from time to time.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&ldquo;<U>Certificate of Designations</U>&rdquo; means the Certificate of Designations or comparable instrument relating to the
Designated Preferred Stock, of which these Standard Provisions form a part, as it may be amended from time to time.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&ldquo;<U>Charter</U>&rdquo; means the Issuer&rsquo;s certificate or articles of incorporation, articles of association, or similar
organizational document.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&ldquo;<U>Dividend Period</U>&rdquo; has the meaning set forth in Section 3(a).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&ldquo;<U>Dividend Record Date</U>&rdquo; has the meaning set forth in Section 3(a).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&ldquo;<U>Effective Time</U>&rdquo; has the meaning set forth in the Merger Agreement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(j)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&ldquo;<U>Liquidation Preference</U>&rdquo; has the meaning set forth in Section 4(a).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(k)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&ldquo;<U>Merger Agreement</U>&rdquo; means the Agreement and Plan of Merger, dated November 13, 2018, as amended on February 11,
2019, by and between the Issuer and Reliance Bancshares, Inc.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(l)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&ldquo;<U>Original Issue Date</U>&rdquo; means the date on which the Effective Time occurs.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(m)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&ldquo;<U>Preferred Director</U>&rdquo; has the meaning set forth in Section 7(b).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(n)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&ldquo;<U>Preferred Stock</U>&rdquo; means any and all series of preferred stock of the Issuer, including the Designated Preferred
Stock.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(o)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&ldquo;<U>Qualified Equity Offering</U>&rdquo; means the sale and issuance for cash by the Issuer to persons other than the Issuer
or any of its subsidiaries after the Reliance Original Issue Date of shares of perpetual Preferred Stock, Common Stock or any combination
of such stock, that, in each case, qualify as and may be included in Tier 1 capital of the Issuer at the time of issuance under
the applicable risk-based capital guidelines of the Issuer&rsquo;s Appropriate Federal Banking Agency (other than any such sales
and issuances made pursuant to agreements or arrangements entered into, or pursuant to financing plans which were publicly announced,
on or prior to November 17, 2008).</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(p)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&ldquo;<U>Reliance Original Issue Date</U>&rdquo; means February 13, 2009, the date on which Reliance Bancshares, Inc. first issued
Fixed Rate Cumulative Perpetual Preferred Stock, no par value, Series B.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(q)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&ldquo;<U>Standard Provisions</U>&rdquo; mean these Standard Provisions that form a part of the Certificate of Designations relating
to the Designated Preferred Stock.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(r)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&ldquo;<U>Successor Preferred Stock</U>&rdquo; has the meaning set forth in Section 5(a).</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(s)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&ldquo;<U>Voting Parity Stock</U>&rdquo; means, with regard to any matter as to which the holders of Designated Preferred Stock
are entitled to vote as specified in Sections 7(a) and 7(b) of these Standard Provisions that form a part of the Certificate of
Designations, any and all series of Parity Stock upon which like voting rights have been conferred and are exercisable with respect
to such matter.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 15.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Dividends.</U></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Rate.</U> Holders of Designated Preferred Stock shall be entitled to receive, on each share of Designated Preferred Stock if,
as and when declared by the Board of Directors or any duly authorized committee of the Board of Directors, but only out of assets
legally available therefor, cumulative cash dividends with respect to each Dividend Period (as defined below) at a per annum rate
of 9.0% on (i) the Liquidation. Amount per share of Designated Preferred Stock and (ii) the amount of accrued and unpaid dividends
for any prior Dividend Period on such share of Designated Preferred Stock, if any. Such dividends shall begin to accrue and be
cumulative from the Original Issue Date, shall compound on each subsequent Dividend Payment Date (<I>i.e.</I>, no dividends shall
accrue on other dividends unless and until the first Dividend Payment Date for such other dividends has passed without such other
dividends having been paid on such date) and shall be payable quarterly in arrears on each Dividend Payment Date, commencing with
the first such Dividend Payment Date to occur at least 20 calendar days after the Original Issue Date. In the event that any Dividend
Payment Date would otherwise fall on a day that is not a Business Day, the dividend payment due on that date will be postponed
to the next day that is a Business Day and no additional dividends will accrue as a result of that postponement. The period from
and including any Dividend Payment Date to, but excluding, the next Dividend Payment Date is a &ldquo;<U>Dividend Period</U>&rdquo;,
provided that the initial Dividend Period shall be the period from and including the Original Issue Date to, but excluding, the
next Dividend Payment Date.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Dividends that are
payable on Designated Preferred Stock in respect of any Dividend Period shall be computed on the basis of a 360-day year consisting
of twelve 30-day months. The amount of dividends payable on Designated Preferred Stock on any date prior to the end of a Dividend
Period, and for the initial Dividend Period, shall be computed on the basis of a 360-day year consisting of twelve 30-day months,
and actual days elapsed over a 30-day month.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Dividends that are
payable on Designated. Preferred Stock on any Dividend Payment Date will be payable to holders of record of Designated Preferred
Stock as they appear on the stock register of the Issuer on the applicable record date, which shall be the 15th calendar day immediately
preceding such Dividend Payment Date or such other record date fixed by the Board of Directors or any duly authorized committee
of the Board of Directors that is not more than 60 nor less than 10 days prior to such Dividend Payment Date (each, a &ldquo;<U>Dividend
Record Date</U>&rdquo;). Any such day that is a Dividend Record Date shall be a Dividend Record Date whether or not such day is
a Business Day.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Holders of Designated
Preferred Stock shall not be entitled to any dividends, whether payable in cash, securities or other property, other than dividends
(if any) declared and payable on Designated Preferred Stock as specified in this Section 3 (subject to the other provisions of
the Certificate of Designations).</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Priority of Dividends.</U> So long as any share of Designated Preferred Stock remains outstanding, no dividend or distribution
shall be declared or paid on the Common Stock or any other shares of Junior Stock (other than dividends payable solely in shares
of Common Stock) or Parity Stock, subject to the immediately following paragraph in the case of Parity Stock, and no Common Stock,
Junior Stock or Parity Stock shall be, directly or indirectly, purchased, redeemed or otherwise acquired for consideration by the
Issuer or any of its subsidiaries unless all accrued and unpaid dividends for all past Dividend Periods, including the latest completed
Dividend Period (including, if applicable as provided in Section 3(a) above, dividends on such amount), on all outstanding shares
of Designated Preferred Stock have been or are contemporaneously declared and paid in full (or have been declared and a sum sufficient
for the payment thereof has been set aside for the benefit of the holders of shares of Designated Preferred Stock on the applicable
record date). The foregoing limitation shall not apply to (i) redemptions, purchases or other acquisitions of shares of Common
Stock or other Junior Stock in connection with the administration of any employee benefit plan in the ordinary course of business
and consistent with past practice; (ii) the acquisition by the Issuer or any of its subsidiaries of record ownership in Junior
Stock or Parity Stock for the beneficial ownership of any other persons (other than the Issuer or any of its subsidiaries), including
as trustees or custodians; and (iii) the exchange or conversion of Junior Stock for or into other Junior Stock or of Parity Stock
for or into other Parity Stock (with the same or lesser aggregate liquidation amount) or Junior Stock, in each case, solely to
the extent required pursuant to binding contractual agreements entered into prior to the Signing Date or any subsequent agreement
for the accelerated exercise, settlement or exchange thereof for Common Stock.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">When dividends are
not paid (or declared and a sum sufficient for payment thereof set aside for the benefit of the holders thereof on the applicable
record date) on any Dividend Payment Date (or, in the case of Parity Stock having dividend payment dates different from the Dividend
Payment Dates, on a dividend payment date falling within a Dividend Period related to such Dividend Payment Date) in full upon
Designated Preferred Stock and any shares of Parity Stock, all dividends declared on Designated Preferred Stock and all such Parity
Stock and payable on such Dividend Payment Date (or, in the case of Parity Stock having dividend payment dates different from the
Dividend Payment Dates, on a dividend payment date falling within the Dividend Period related to such Dividend Payment Date) shall
be declared <I>pro rata </I>so that the respective amounts of such dividends declared shall bear the same ratio to each other as
all accrued and unpaid dividends per share on the shares of Designated Preferred Stock (including, if applicable as provided in
Section 3(a) above, dividends on such amount) and all Parity Stock payable on such Dividend Payment Date (or, in the case of Parity
Stock having dividend payment dates different from the Dividend Payment Dates, on a dividend payment date falling within the Dividend
Period related to such Dividend Payment Date) (subject to their having been declared by the Board of Directors or a duly authorized
committee of the Board of Directors out of legally available funds and including, in the case of Parity Stock that bears cumulative
dividends, all accrued but unpaid dividends) bear to each other. If the Board of Directors or a duly authorized committee of the
Board of Directors determines not to pay any dividend or a full dividend on a Dividend Payment Date, the Issuer will provide written
notice to the holders of Designated Preferred Stock prior to such Dividend Payment Date.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Subject to the foregoing,
and not otherwise, such dividends (payable in cash, securities or other property) as may be determined by the Board of Directors
or any duly authorized committee of the Board of Directors may be declared and paid on any securities, including Common Stock and
other Junior Stock, from time to time out of any funds legally available for such payment, and holders of Designated Preferred
Stock shall not be entitled to participate in any such dividends.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 16.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Liquidation Rights.</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Voluntary or Involuntary Liquidation.</U> In the event of any liquidation, dissolution or winding up of the affairs of the Issuer,
whether voluntary or involuntary, holders of Designated Preferred Stock shall be entitled to receive for each share of Designated
Preferred Stock, out of the assets of the Issuer or proceeds thereof (whether capital or surplus) available for distribution to
stockholders of the Issuer, subject to the rights of any creditors of the Issuer, before any distribution of such assets or proceeds
is made to or set aside for the holders of Common Stock and any other stock of the Issuer ranking junior to Designated Preferred
Stock as to such distribution, payment in full in an amount equal to the sum of (i) the Liquidation Amount per share and (ii) the
amount of any accrued and unpaid dividends (including, if applicable as provided in Section 3(a) above, dividends on such amount),
whether or not declared, to the date of payment (such amounts collectively, the &ldquo;<U>Liquidation Preference</U>&rdquo;).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Partial Payment.</U> If in any distribution described in Section 4(a) above the assets of the Issuer or proceeds thereof are
not sufficient to pay in full the amounts payable with respect to all outstanding shares of Designated Preferred Stock and the
corresponding amounts payable with respect of any other stock of the Issuer ranking equally with Designated Preferred Stock as
to such distribution, holders of Designated Preferred Stock and the holders of such other stock shall share ratably in any such
distribution in proportion to the full respective distributions to which they are entitled.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Residual Distributions.</U> If the Liquidation Preference has been paid in full to all holders of Designated Preferred Stock
and the corresponding amounts payable with respect of any other stock of the Issuer ranking equally with Designated Preferred Stock
as to such distribution has been paid in full, the holders of other stock of the Issuer shall be entitled to receive all remaining
assets of the Issuer (or proceeds thereof) according to their respective rights and preferences.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Merger, Consolidation and Sale of Assets Not Liquidation.</U> For purposes of this Section 4, the merger or consolidation of
the Issuer with any other corporation or other entity, including a merger or consolidation in which the holders of Designated Preferred
Stock receive cash, securities or other property for their shares, or the sale, lease or exchange (for cash, securities or other
property) of all or substantially all of the assets of the Issuer, shall not constitute a liquidation, dissolution or winding up
of the Issuer.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 17.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Redemption.</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Optional Redemption.</U> Except as provided below, the Designated Preferred Stock may not be redeemed prior to the later of
(i) first Dividend Payment Date falling on or after the third anniversary of the Reliance Original Issue Date; and (ii) the date
on which all outstanding shares of UST Preferred Stock have been redeemed, repurchased or otherwise acquired by the Issuer. On
or after the first Dividend Payment Date falling on or after the third anniversary of the Reliance Original Issue Date, the Issuer,
at its option, subject to the approval of the Appropriate Federal Banking Agency, may redeem, in whole or in part, at any time
and from time to time, out of funds legally available therefore, the shares of Designated Preferred Stock at the time outstanding,
upon notice given as provided in Section 5(c) below, at a redemption price equal to the sum of (i) the Liquidation Amount per share
and (ii) except as otherwise provided below, any accrued and unpaid dividends (including, if applicable as provided in Section
3(a) above, dividends on such amount) (regardless of whether any dividends are actually declared) to, but excluding, the date fixed
for redemption.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Notwithstanding the
foregoing, prior to the first Dividend Payment Date falling on or after the third anniversary of the Reliance Original Issue Date,
the Issuer, at its option, subject to the approval of the Appropriate Federal Banking Agency and subject to the requirement that
all outstanding shares of UST Preferred Stock shall previously have been redeemed, repurchased or otherwise acquired by the Issuer,
may redeem, in whole or in part, at any time and from time to time, the shares of Designated Preferred Stock at the time outstanding,
upon notice given as provided in Section 5(c) below, at a redemption price equal to the sum of (i) the Liquidation Amount per share
and (ii)&nbsp;except as otherwise provided below, any accrued and unpaid dividends (including, if applicable as provided in Section
3(a) above, dividends on such amount) (regardless of whether any dividends are actually declared) to, but excluding, the date fixed
for redemption; <I>provided </I>that (x) the Issuer (or any successor by Business Combination) has received aggregate gross proceeds
of not less than the Minimum Amount (plus the &ldquo;Minimum Amount&rdquo; as defined in the relevant certificate of designations
for each other outstanding series of preferred stock of such successor that was originally issued to the United States Department
of the Treasury (the &ldquo;<U>Successor Preferred Stock</U>&rdquo;) in connection with the Troubled Asset Relief Program Capital
Purchase Program) from one or more Qualified Equity Offerings (including Qualified Equity Offerings of such successor), and (y)
the aggregate redemption price of the Designated Preferred Stock (and any Successor Preferred Stock) redeemed pursuant to this
paragraph may not exceed the aggregate net cash proceeds received by the Issuer (or any successor by Business Combination) from
such Qualified Equity Offerings (including Qualified Equity Offerings of such successor).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The redemption price
for any shares of Designated Preferred Stock shall be payable on the redemption date to the holder of such shares against surrender
of the certificate(s) evidencing such shares to the Issuer or its agent. Any declared but unpaid dividends payable on a redemption
date that occurs subsequent to the Dividend Record Date for a Dividend Period shall not be paid to the holder entitled to receive
the redemption price on the redemption date, but rather shall be paid to the holder of record of the redeemed shares on such Dividend
Record Date relating to the Dividend Payment Date as provided in Section 3 above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>No Sinking Fund.</U> The Designated Preferred Stock will not be subject to any mandatory redemption, sinking fund or other similar
provisions. Holders of Designated Preferred Stock will have no right to require redemption or repurchase of any shares of Designated
Preferred Stock.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Notice of Redemption.</U> Notice of every redemption of shares of Designated Preferred Stock shall be given by first class mail,
postage prepaid, addressed to the holders of record of the shares to be redeemed at their respective last addresses appearing on
the books of the Issuer. Such mailing shall be at least 30 days and not more than 60 days before the date fixed for redemption.
Any notice mailed as provided in this Subsection shall be conclusively presumed to have been duly given, whether or not the holder
receives such notice, but failure duly to give such notice by mail, or any defect in such notice or in the mailing thereof, to
any holder of shares of Designated Preferred Stock designated for redemption shall not affect the validity of the proceedings for
the redemption of any other shares of Designated Preferred Stock. Notwithstanding the foregoing, if shares of Designated Preferred
Stock are issued in book-entry form through The Depository Trust Company or any other similar facility, notice of redemption may
be given to the holders of Designated Preferred Stock at such time and in any manner permitted by such facility. Each notice of
redemption given to a holder shall state: (1) the redemption date; (2) the number of shares of Designated Preferred Stock to be
redeemed and, if less than all the shares held by such holder are to be redeemed, the number of such shares to be redeemed from
such holder; (3) the redemption price; and (4) the place or places where certificates for such shares are to be surrendered for
payment of the redemption price.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Partial Redemption.</U> In case of any redemption of part of the shares of Designated Preferred Stock at the time outstanding,
the shares to be redeemed shall be selected either <I>pro rata </I>or in such other manner as the Board of Directors or a duly
authorized committee thereof may determine to be fair and equitable. Subject to the provisions hereof, the Board of Directors or
a duly authorized committee thereof shall have full power and authority to prescribe the terms and conditions upon which shares
of Designated Preferred Stock shall be redeemed from time to time. If fewer than all the shares represented by any certificate
are redeemed, a new certificate shall be issued representing the unredeemed shares without charge to the holder thereof</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Effectiveness of Redemption.</U> If notice of redemption has been duly given and if on or before the redemption date specified
in the notice all funds necessary for the redemption have been deposited by the Issuer, in trust for the <I>pro rata </I>benefit
of the holders of the shares called for redemption, with a bank or trust company doing business in the Borough of Manhattan, The
City of New York, and having a capital and surplus of at least $500 million and selected by the Board of Directors, so as to be
and continue to be available solely therefor, then, notwithstanding that any certificate for any share so called for redemption
has not been surrendered for cancellation, on and after the redemption date dividends shall cease to accrue on all shares so called
for redemption, all shares so called for redemption shall no longer be deemed outstanding and all rights with respect to such shares
shall forthwith on such redemption date cease and terminate, except only the right of the holders thereof to receive the amount
payable on such redemption from such bank or trust company, without interest. Any funds unclaimed at the end of three years from
the redemption date shall, to the extent permitted by law, be released to the Issuer, after which time the holders of the shares
so called for redemption shall look only to the Issuer for payment of the redemption price of such shares.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Status of Redeemed Shares.</U> Shares of Designated Preferred Stock that are redeemed, repurchased or otherwise acquired by
the Issuer shall revert to authorized but unissued shares of Preferred Stock (<I>provided </I>that any such cancelled shares of
Designated Preferred Stock may be reissued only as shares of any series of Preferred Stock other than Designated Preferred Stock).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 18.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Conversion.</U> Holders of Designated Preferred Stock shares shall have no right to exchange or convert such shares into
any other securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 19.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Voting Rights.</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>General.</U> The holders of Designated Preferred Stock shall not have any voting rights except as set forth below or as otherwise
from time to time required by law.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Preferred Stock Directors.</U> Whenever, at any time or times, dividends payable on the shares of Designated Preferred. Stock
have not been paid for an aggregate of six quarterly Dividend Periods or more, whether or not consecutive, the authorized number
of directors of the Issuer shall automatically be increased by two and the holders of the Designated Preferred Stock shall have
the right, with holders of shares of any one or more other classes or series of Voting Parity Stock outstanding at the time, voting
together as a class, to elect two directors (hereinafter the &ldquo;<U>Preferred Directors</U>&rdquo; and each a &ldquo;<U>Preferred
Director</U>&rdquo;) to fill such newly created directorships at the Issuer&rsquo;s next annual meeting of stockholders (or at
a special meeting called for that purpose prior to such next annual meeting) and at each subsequent annual meeting of stockholders
until all accrued and unpaid dividends for all past Dividend Periods, including the latest completed Dividend Period (including,
if applicable as provided in Section 3(a) above, dividends on such amount), on all outstanding shares of Designated Preferred Stock
have been declared and paid in full at which time such right shall terminate with respect to the Designated Preferred Stock, except
as herein or by law expressly provided, subject to revesting in the event of each and every subsequent default of the character
above mentioned; <I>provided </I>that it shall be a qualification for election for any Preferred Director that the election of
such Preferred Director shall not cause the Issuer to violate any corporate governance requirements of any securities exchange
or other trading facility on which securities of the Issuer may then be listed or traded that listed or traded companies must have
a majority of independent directors. Upon any termination of the right of the holders of shares of Designated Preferred Stock and
Voting Parity Stock as a class to vote for directors as provided above, the Preferred Directors shall cease to be qualified as
directors, the term of office of all Preferred Directors then in office shall terminate immediately and the authorized number of
directors shall be reduced by the number of Preferred Directors elected pursuant hereto. Any Preferred Director may be removed
at any time, with or without cause, and any vacancy created thereby may be filled, only by the affirmative vote of the holders
a majority of the shares of Designated Preferred Stock at the time outstanding voting separately as a class together with the holders
of shares of Voting Parity Stock, to the extent the voting rights of such holders described above are then exercisable. If the
office of any Preferred Director becomes vacant for any reason other than removal from office as aforesaid, the remaining Preferred
Director may choose a successor who shall hold office for the unexpired term in respect of which such vacancy occurred.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Class Voting Rights as to Particular Matters.</U> So long as any shares of Designated Preferred Stock are outstanding, in addition
to any other vote or consent of stockholders required by law or by the Charter, the vote or consent of the holders of at least
66 2/3% of the shares of Designated Preferred Stock at the time outstanding, voting as a separate class, given in person or by
proxy, either in writing without a meeting or by vote at any meeting called for the purpose, shall be necessary for effecting or
validating:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Authorization of Senior Stock.</U> Any amendment or alteration of the Certificate of Designations for the Designated Preferred
Stock or the Charter to authorize or create or increase the authorized amount of, or any issuance of, any shares of, or any securities
convertible into or exchangeable or exercisable for shares of, any class or series of capital stock of the Issuer ranking senior
to Designated Preferred Stock with respect to either or both the payment of dividends and/or the distribution of assets on any
liquidation, dissolution or winding up of the Issuer;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Amendment of Designated Preferred Stock.</U> Any amendment, alteration or repeal of any provision of the Certificate of Designations
for the Designated Preferred Stock or the Charter (including, unless no vote on such merger or consolidation is required by Section
7(c)(iii) below, any amendment, alteration or repeal by means of a merger, consolidation or otherwise) so as to adversely affect
the rights, preferences, privileges or voting powers of the Designated Preferred Stock; or</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Share Exchanges, Reclassifications, Mergers and Consolidations.</U> Any consummation of a binding share exchange or reclassification
involving the Designated Preferred Stock, or of a merger or consolidation of the Issuer with another corporation or other entity,
unless in each case (x) the shares of Designated Preferred Stock remain outstanding or, in the case of any such merger or consolidation
with respect to which the Issuer is not the surviving or resulting entity, are converted into or exchanged for preference securities
of the surviving or resulting entity or its ultimate parent, and (y) such shares remaining outstanding or such preference securities,
as the case may be, have such rights, preferences, privileges and voting powers, and limitations and restrictions thereof, taken
as a whole, as are not materially less favorable to the holders thereof than the rights, preferences, privileges and voting powers,
and limitations and restrictions thereof, of Designated Preferred Stock immediately prior to such consummation, taken as a whole;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.65pt"><I>provided, however, </I>that for all purposes of
this Section 7(c), any increase in the amount of the authorized Preferred Stock, including any increase in the authorized amount
of Designated Preferred Stock necessary to satisfy preemptive or similar rights granted by the Issuer to other persons prior to
the Signing Date, or the creation and issuance, or an increase in the authorized or issued amount, whether pursuant to preemptive
or similar rights or otherwise, of any other series of Preferred Stock, or any securities convertible into or exchangeable or exercisable
for any other series of Preferred Stock, ranking equally with and/or junior to Designated Preferred Stock with respect to the payment
of dividends (whether such dividends are cumulative or non-cumulative) and the distribution of assets upon liquidation, dissolution
or winding up of the Issuer will not be deemed to adversely affect the rights, preferences, privileges or voting powers, and shall
not require the affirmative vote or consent of, the holders of outstanding shares of the Designated Preferred Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.65pt"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.65pt"><I></I></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.65pt"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Changes after Provision for Redemption.</U> No vote or consent of the holders of Designated Preferred Stock shall be required
pursuant to Section 7(c) above if, at or prior to the time when any such vote or consent would otherwise be required pursuant to
such Section, all outstanding shares of the Designated Preferred Stock shall have been redeemed, or shall have been called for
redemption upon proper notice and sufficient funds shall have been deposited in trust for such redemption, in each case pursuant
to Section 5 above.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Procedures for Voting and Consents.</U> The rules and procedures for calling and conducting any meeting of the holders of Designated
Preferred Stock (including, without limitation, the fixing of a record date in connection therewith), the solicitation and use
of proxies at such a meeting, the obtaining of written consents and any other aspect or matter with regard to such a meeting or
such consents shall be governed by any rules of the Board of Directors or any duly authorized committee of the Board of Directors,
in its discretion, may adopt from time to time, which rules and procedures shall conform to the requirements of the Charter, the
Bylaws, and applicable law and the rules of any national securities exchange or other trading facility on which Designated Preferred
Stock is listed or traded at the time.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 20.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Record Holders.</U> To the fullest extent permitted by applicable law, the Issuer and the transfer agent for Designated
Preferred Stock may deem and treat the record holder of any share of Designated Preferred Stock as the true and lawful owner thereof
for all purposes, and neither the Issuer nor such transfer agent shall be affected by any notice to the contrary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 21.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Notices.</U> All notices or communications in respect of Designated Preferred Stock shall be sufficiently given if given
in writing and delivered in person or by first class mail, postage prepaid, or if given in such other manner as may be permitted
in this Certificate of Designations, in the Charter or Bylaws or by applicable law. Notwithstanding the foregoing, if shares of
Designated Preferred Stock are issued in book-entry form through The Depository Trust Company or any similar facility, such notices
may be given to the holders of Designated Preferred Stock in any manner permitted by such facility.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 22.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>No Preemptive Rights.</U> No share of Designated Preferred Stock shall have any rights of preemption whatsoever as to
any securities of the Issuer, or any warrants, rights or options issued or granted with respect thereto, regardless of how such
securities, or such warrants, rights or options, may be designated, issued or granted.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 23.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Replacement Certificates.</U> The Issuer shall replace any mutilated certificate at the holder&rsquo;s expense upon surrender
of that certificate to the Issuer. The Issuer shall replace certificates that become destroyed, stolen or lost at the holder&rsquo;s
expense upon delivery to the Issuer of reasonably satisfactory evidence that the certificate has been destroyed, stolen or lost,
together with any indemnity that may be reasonably required by the Issuer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 24.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Other Rights.</U> The shares of Designated Preferred Stock shall not have any rights, preferences, privileges or voting
powers or relative, participating, optional or other special rights, or qualifications, limitations or restrictions thereof, other
than as set forth herein or in the Charter or as provided by applicable law.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">EXHIBIT 4</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[CERTIFICATE OF DESIGNATIONS ON NEXT PAGE]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CERTIFICATE OF DESIGNATIONS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;<BR>
OF</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>
7% PERPETUAL CONVERTIBLE PREFERRED STOCK, PAR VALUE $0.01 PER SHARE, SERIES C</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;
OF</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>
SIMMONS FIRST NATIONAL CORPORATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Simmons First National
Corporation, a Corporation organized and existing under the laws of the state of Arkansas (herein called the &ldquo;<U>Corporation</U>&rdquo;
or the &ldquo;<U>Issuer</U>&rdquo;), does hereby certify:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">That, pursuant to the
authority conferred upon the Board of Directors of the Corporation (the &ldquo;<U>Board of Directors</U>&rdquo;) by the Amended
and Restated Articles of Incorporation and Bylaws of the Corporation, and pursuant to Section 4-27-602 of the Arkansas Business
Corporation Act of 1987, as amended, the Board of Directors adopted the following resolutions by written consent on February 11,
2019, creating a series of 140 shares of Preferred Stock, par value $0.01 per share, of the Corporation designated as the &ldquo;<U>7%
Perpetual Convertible Preferred Stock, Par Value $0.01 Per Share, Series C</U>&rdquo;:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>RESOLVED</B>, that
pursuant to the authority expressly granted and vested in the Board of Directors in accordance with the provisions of its Amended
and Restated Articles of Incorporation, and Bylaws of the Corporation and applicable law, a series of Preferred Stock, par value
$0.01 per share, of the Corporation be and hereby is created, and that the designation and number of shares of such series, and
the voting and other powers, preferences and relative, participating, optional or other rights, and the qualifications, limitations
and restrictions thereof, of the shares of such series, are as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 25.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Designation.</I> The class of 7% Perpetual Convertible Preferred Stock, Par Value $0.01 Per Share, Series C, shall be
designated herein as the &ldquo;<U>Series C Preferred Stock</U>&rdquo; and shall consist of 25,000 shares of authorized preferred
stock, par value $0.01 per share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 26.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>General Matters.</I> Each share of Series C Preferred Stock shall be identical in all respects to every other share of
Series C Preferred Stock. The Series C Preferred Stock shall be perpetual, shall be subject to the provisions of the Certificate
of Designations, shall rank equally with Parity Stock and shall rank senior to Junior Stock with respect to the payment of dividends
and/or the distribution of assets in the event of the dissolution, liquidation or winding up of the Issuer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 27.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Definitions.</I> The following terms are used in this Certificate of Designations as defined below:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&ldquo;<U>Business Combination</U>&rdquo; means a merger, consolidation, statutory share exchange or similar transaction
that requires the approval of the Issuer&rsquo;s stockholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&ldquo;<U>Business Day</U>&rdquo; means that any day except Saturday, Sunday and any day on which banking institutions in
the State of Arkansas generally are authorized or required by law or other governmental actions to close.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&ldquo;<U>Bylaws</U>&rdquo; means the bylaws of the Issuer, as they may be amended from time to time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(d)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&ldquo;<U>Charter</U>&rdquo; means the Issuer&rsquo;s certificate or articles of incorporation, as amended and restated
from time to time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(e)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&ldquo;<U>Common Stock</U>&rdquo; means the Class A Common Stock, par value $0.01 per share, of the Issuer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(f)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&ldquo;<U>Dividend Period</U>&rdquo; has the meaning set forth in Section 4(a).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(g)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&ldquo;<U>Effective Time</U>&rdquo; has the meaning set forth in the Merger Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(h)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&ldquo;<U>Dividend Payment Date</U>&rdquo; means February 15, May 15, August 15 and November 15 of each year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(i)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&ldquo;<U>Dividend Record Date</U>&rdquo; has the meaning set forth in Section 4(a).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(j)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&ldquo;<U>Junior Stock</U>&rdquo; means the Common Stock and any other class or series of stock of the Issuer the terms
of which expressly provide that it ranks junior to Series C Preferred Stock as to dividend rights and/or as to rights on liquidation,
dissolution or winding up of the Issuer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(k)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&ldquo;<U>Liquidation Amount</U>&rdquo; means $1,000 per share of Series C Preferred Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(l)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&ldquo;<U>Merger Agreement</U>&rdquo; means the Agreement and Plan of Merger, dated November 13, 2018, as amended on February
11, 2019, by and between the Issuer and Reliance Bancshares, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(m)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&ldquo;<U>Parity Stock</U>&rdquo; means any class or series of stock of the Issuer (other than Series C Preferred Stock)
the terms of which do not expressly provide that such class or series will rank senior or junior to Series C Preferred Stock as
to dividend rights and/or as to rights on liquidation, dissolution or winding up of the Issuer (in each case without regard to
whether dividends accrue cumulatively or non-cumulatively). Without limiting the foregoing, Parity Stock shall include the Issuer&rsquo;s
Series A Preferred Stock, par value $0.01 per share, and Series B Preferred Stock, par value $0.01 per share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(n)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&ldquo;<U>Original Issue Date</U>&rdquo; means the date on which the Effective Time occurs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(o)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&ldquo;<U>Preferred Director</U>&rdquo; has the meaning set forth in Section 8.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(p)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&ldquo;<U>Preferred Stock</U>&rdquo; means any and all series of preferred stock of the Issuer, including the Series C Preferred
Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(q)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&ldquo;<U>Reliance Original Issue Date</U>&rdquo; means December 15, 2009, the date on which Reliance Bancshares, Inc. first
issued 7% Perpetual Convertible Preferred Stock, no par value, Series C.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(r)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&ldquo;<U>Voting Parity Stock</U>&rdquo; means, with regard to any matter as to which the holders of Series C Preferred
Stock are entitled to vote as specified in Sections 8(a) and 8(b) of this Certificate of Designations, any and all series of Parity
Stock upon which like voting rights have been conferred and are exercisable with respect to such matter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 28.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Dividends.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Rate.</I> Holders of Series C Preferred Stock shall be entitled to receive, on each share of Series C Preferred Stock
if, as and when declared by the Board of Directors or any duly authorized committee of the Board of Directors, but only out of
assets legally available therefore, cumulative cash dividends with respect to each Dividend Period (as defined below) at a per
annum rate of 7.0% on (i) the Liquidation Amount per share of Series C Preferred Stock and (ii) the amount of accrued and unpaid
dividends for any prior Dividend Period on such share of Designated Preferred Stock, if any. Such dividends shall begin to accrue
and be cumulative from the Original Issue Date, shall compound on each subsequent Dividend Payment Date (i.e., no dividends shall
accrue on other dividends unless and until the first Dividend Payment Date for such other dividends has passed without such other
dividends having been paid on such date) and shall be payable quarterly in arrears on each Dividend Payment Date, commencing with
the first such Dividend Payment Date to occur at least 20 calendar days after the Original Issue Date. In the event that any Dividend
Payment Date would otherwise fall on a day that is not a Business Day, the dividend payment due on that date will be postponed
to the next day that is a Business Day and no additional dividends will accrue as a result of that postponement. The period from
and including any Dividend Payment Date to, but excluding, the next Dividend Payment Date is a &ldquo;<U>Dividend Period</U>&rdquo;,
provided that the initial Dividend Period shall be the period from and including the Original Issue Date to, but excluding, the
next Dividend Payment Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Dividends that are
payable on Series C Preferred Stock in respect of any Dividend Period shall be computed on the basis of a 360-day year consisting
of twelve 30-day months. The amount of dividends payable on Series C Preferred Stock on any date prior to the end of a Dividend
Period, and for the initial Dividend Period, shall be computed on the basis of a 360-day year consisting of twelve 30-day months,
and actual days elapsed over a 30-day month.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Dividends that are
payable on Series C Preferred Stock on any Dividend Payment Date will be payable to holders of record of Series C Preferred Stock
as they appear on the stock register of the Issuer on the applicable record date, which shall be the 15th calendar day immediately
preceding such Dividend Payment Date or such other record date fixed by the Board of Directors or any duly authorized committee
of the Board of Directors that is not more than 60 nor less than 10 days prior to such Dividend Payment Date (each, a &ldquo;Dividend
Record Date&rdquo;). Any such day that is a &ldquo;<U>Dividend Record Date</U>&rdquo; shall be a Dividend Record Date whether or
not such day is a Business Day.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Holders of Series C
Preferred Stock shall not be entitled to any dividends, whether payable in cash, securities or other property, other than dividends
(if any) declared and payable on Series C Preferred Stock as specified in this Section 4 (subject to the other provisions of the
Certificate of Designations).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Priority of Dividends. </I>So long as any share of Series C Preferred Stock remains outstanding, no dividend or distribution
shall be declared or paid on the Common Stock or any other shares of Junior Stock (other than dividends payable solely in shares
of Common Stock) or Parity Stock, subject to the immediately following paragraph in the case of Parity Stock, and no Common Stock,
Junior Stock or Parity Stock shall be, directly or indirectly, purchased, redeemed or otherwise acquired for consideration by the
Issuer or any of its subsidiaries unless all accrued and unpaid dividends for all past Dividend Periods, including the latest completed
Dividend Period (including, if applicable as provided in Section 4(a) above, dividends on such amount), on all outstanding shares
of Series C Preferred Stock have been or are contemporaneously declared and paid in full (or have been declared and a sum sufficient
for the payment thereof has been set aside for the benefit of the holders of shares of Series C Preferred Stock on the applicable
record date). The foregoing limitation shall not apply to (i) redemptions, purchases or other acquisitions of shares of Common
Stock or other Junior Stock in connection with the administration of any employee benefit plan in the ordinary course of business
and consistent with past practice; (ii) the acquisition by the Issuer or any of its subsidiaries of record ownership in Junior
Stock or Parity Stock for the beneficial ownership of any other persons (other than the Issuer or any of its subsidiaries), including
as trustees or custodians; and (iii) the exchange or conversion of Junior Stock for or into other Junior Stock or of Parity Stock
for or into other Parity Stock (with the same or lesser aggregate liquidation amount) or Junior Stock, in each case, solely to
the extent required pursuant to binding contractual agreements entered into prior to the Signing Date or any subsequent agreement
for the accelerated exercise, settlement or exchange thereof for Common Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">When dividends are
not paid (or declared and a sum sufficient for payment thereof set aside for the benefit of the holders thereof on the applicable
record date) on any Dividend Payment Date (or, in the case of Parity Stock having dividend payment dates different from the Dividend
Payment Dates, on a dividend payment date falling within a Dividend Period related to such Dividend Payment Date) in full upon
Series C Preferred Stock and any shares of Parity Stock, all dividends declared on Series C Preferred Stock and all such Parity
Stock and payable on such Dividend Payment Date (or, in the case of Parity Stock having dividend payment dates different from the
Dividend Payment Dates, on a dividend payment date falling within the Dividend Period related to such Dividend Payment Date) shall
be declared pro rata so that the respective amounts of such dividends declared shall bear the same ratio to each other as all accrued
and unpaid dividends per share on the shares of Series C Preferred Stock (including, if applicable as provided in Section 4(a)
above, dividends on such amount) and all Parity Stock payable on such Dividend Payment Date (or, in the case of Parity Stock having
dividend payment dates different from the Dividend Payment Dates, on a dividend payment date falling within the Dividend Period
related to such Dividend Payment Date) (subject to their having been declared by the Board of Directors or a duly authorized committee
of the Board of Directors out of legally available funds and including, in the case of Parity Stock that bears cumulative dividends,
all accrued but unpaid dividends) bear to each other. If the Board of Directors or a duly authorized committee of the Board of
Directors determines not to pay any dividend or a full dividend on a Dividend Payment Date, the Issuer will provide written notice
to the holders of Series C Preferred Stock prior to such Dividend Payment Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Subject to the foregoing,
and not otherwise, such dividends (payable in cash, securities or other property) as may be determined by the Board of Directors
or any duly authorized committee of the Board of Directors may be declared and paid on any securities, including Common Stock and
other Junior Stock, from time to time out of any funds legally available for such payment, and holders of Series C Preferred Stock
shall not be entitled to participate in any such dividends.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 29.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Liquidation, Dissolution or Winding Up</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Voluntary or Involuntary Dissolution. </I>In the event of any liquidation, dissolution or winding up of the Issuer, whether
voluntary or involuntary, before any sums shall be paid or any assets distributed among the holders of shares of Junior Stock,
the holder of each share of Series C Preferred Stock shall be entitled to be paid first out of the assets of the Issuer available
for distribution to holders of the Issuer&rsquo;s capital stock of all classes, whether such assets are capital, surplus or earnings,
an amount equal to the greater of (i) the Liquidation Amount per share plus all dividends to which such share is entitled under
Section 4 hereof, up to and including the date full payment (collectively the &ldquo;<U>Liquidation Preference</U>&rdquo;) shall
be tendered to the holders of the Series C Preferred Stock with respect to such liquidation, dissolution or winding up, or (ii)
such amount per share of Series C Preferred Stock as would have been payable had each such share been converted into Common Stock
immediately prior to such event of liquidation, dissolution or winding up pursuant to the provisions of Section 6 hereof. If the
payment is made under clause (i) of the preceding sentence, after such payment shall have been made in full to the holders of the
Series C Preferred Stock or funds necessary for such payment shall have been set aside by the Issuer in trust for the accounts
of holders of the Series C Preferred Stock so as to be available for such payment, holders of the Series C Preferred Stock shall
be entitled to no further participation in the distribution of the assets of the Issuer and shall have no further rights of conversion,
and the remaining assets available for distribution shall be distributed ratably among the holders of the Common Stock. If the
payment is made under clause (ii) of the second preceding sentence, the amount to be paid per share of Common Stock shall be calculated
as though all of the Series C Preferred Stock had been converted into Common Stock. If the assets of the Issuer shall be insufficient
to permit the payment in full to the holders of the Series C Preferred Stock of the amount thus distributable, then the entire
assets of the Issuer available for such distribution shall be distributed ratably among the holders of the Series C Preferred Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Partial Payment. </I>If in any distribution described in Section 5(a) above the assets of the Issuer or proceeds thereof
are not sufficient to pay in full the amounts payable with respect to all outstanding shares of Series C Preferred Stock and the
corresponding amounts payable with respect of any other stock of the Issuer ranking equally with Series C Preferred Stock as to
such distribution, holders of Series C Preferred Stock and the holders of such other stock shall share ratably in any such distribution
in proportion to the full respective distributions to which they are entitled.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Residual Distributions. </I>If the Liquidation Preference has been paid in full to all holders of Series C Preferred
Stock and the corresponding amounts payable with respect of any other stock of the Issuer ranking equally with Series C Preferred
Stock as to such distribution has been paid in full, the holders of other stock of the Issuer shall be entitled to receive all
remaining assets of the Issuer (or proceeds thereof) according to their respective rights and preferences.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(d)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Merger, Consolidation, etc. </I>A reorganization of the Common Stock as provided in Section 6(h) or a consolidation or
merger of the Issuer with or into any other corporation, a share exchange involving the Issuer, or a sale, lease, exchange or transfer
of all or substantially all of the assets of the Issuer shall be regarded as a liquidation, dissolution or winding up of the affairs
of the Issuer within the meaning of this Section 5; <I>provided, however</I>, that each holder of Series C Preferred Stock shall
have the right to elect the benefits of the provisions of Section 6(h) hereof in lieu of receiving payment in liquidation, dissolution
or winding up of the Issuer pursuant to this Section 5.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(e)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Distribution Not in Cash. </I>Whenever the distribution provided for herein shall be paid in property other than cash,
the value of such distribution shall be the fair market value of such property as determined in good faith by the Board of Directors
of the Issuer.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 30.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Conversion Rights. </I>The holders of the Series C Preferred Stock and the Issuer shall have the following conversion
rights:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Conversion by Holder. </I>At any time after the Reliance Original Issue Date and subject to and in compliance with the
provisions of this Section 6, any shares of the Series C Preferred Stock may, at the option of the holder, be converted at any
time or from time to time into fully paid and nonassessable shares (calculated as to each conversion to the largest whole share)
of Common Stock of the Issuer and a cash payment calculated in accordance with this Section 6 and pursuant to the Merger Agreement.
The consideration to which a holder of Series C Preferred Stock shall be entitled upon conversion shall be (i) the number of shares
of Common Stock produced by the product obtained by multiplying (a) the quotient obtained by dividing (1) the product obtained
by multiplying (A) the Liquidation Amount per share (i.e. $1,000.00 for each share) by (B) the number of shares of Series C Preferred
Stock being converted by (2) the Applicable Conversion Rate (determined as provided in Section 6(d)), by (b) the Per Share Stock
Consideration (as defined in the Merger Agreement); and (ii) a cash amount produced by the product obtained by multiplying (a)
the quotient obtained by dividing (1) the product obtained by multiplying (A) the Liquidation Amount per share (i.e. $1,000.00
for each share) by (B) the number of shares of Series C Preferred Stock being converted by (2) the Applicable Conversion Rate (determined
as provided in Section 6(d)), by (b) the Per Share Cash Consideration (as defined in the Merger Agreement).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Conversion Following Board Action of the Issuer. </I>On or after the tenth anniversary of the Reliance Original Issue
Date, if the fair market value (i.e. the closing price) at which the Issuer&rsquo;s Common Stock has traded at a price that is
20% higher than the Applicable Conversion Rate for a period of thirty (30) consecutive trading dates on a recognized securities
exchange, including the over-the-counter market, then for a period of sixty (60) days thereafter, at the option of the Board of
Directors of the Issuer, and upon thirty (30) days written notice to the holders of the Series C Preferred Stock, all of outstanding
shares of Class C Preferred Stock, or such lesser number or numbers of shares of Series C Preferred Stock specified by the Board
of Directors, shall be converted automatically into the number of shares of Common Stock into which such Series C Preferred Stock
is convertible pursuant to Section 6(a) hereof without any further action by the holders of such shares and whether or not the
certificates representing such shares are surrendered to the Issuer or its transfer agent for the Common Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Issuance of Certificates. </I>Upon the occurrence of the conversion specified in Sections 6(a) or 6(b), the holders of
such Series C Preferred Stock shall surrender either the certificates representing such shares or evidence of uncertificated shares
at the office of the Issuer or of its transfer agent for the Common Stock. Thereupon, there shall be issued and delivered to such
holder a certificate or certificates for the number of shares of Common Stock into which the shares of the Series C Preferred Stock
surrendered were convertible on the date on which such conversion occurred. The Issuer shall not be obligated to issue certificates
evidencing the shares of Common Stock issuable upon such conversion unless certificates evidencing such shares or evidence of uncertificated
shares of the Series C Preferred Stock being converted are either delivered to the Issuer or any such transfer agent or the holder
notifies the Issuer or any such transfer agent that such certificates have been lost, stolen or destroyed and executes an agreement
satisfactory to the Issuer to indemnify the Issuer from any loss incurred by it in connection therewith.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(d)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Applicable Conversion Rate. </I>The &ldquo;<U>Applicable Conversion Rate</U>&rdquo; shall be $1.90 as such amount may
be adjusted from time to time in accordance with Section 6(e) hereof.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(e)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Adjustments to Applicable Conversion Rate</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(i)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Upon Sale of Common Stock. </I>If the Issuer, while there are any shares of Series C Preferred Stock outstanding, issues
or sells shares of its Common Stock without consideration or at a price per share less than the Applicable Conversion Rate in effect
immediately prior to such issuance or sale, then in each such case such Applicable Conversion Rate upon each such issuance or sale,
except as hereinafter provided, shall be adjusted to an amount determined by multiplying the Applicable Conversion Rate by a fraction:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#9;(A)&#9;The numerator
of which shall be (I) the number of shares of Common Stock outstanding immediately prior to the issuance of such additional shares
of Common Stock, plus (II) the number of shares of Common Stock which the net aggregate consideration received by the Corporation
for the total number of such additional shares of Common Stock so issued would purchase at the Applicable Conversion Rate; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#9;(B)&#9;The denominator
of which shall be (I) the number of shares of Common Stock outstanding immediately prior to the issuance of such additional shares
of Common Stock, plus (II) the number of such additional shares of Common Stock so issued.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Notwithstanding the
foregoing, the Issuer&rsquo;s issuance of up to an aggregate of 1,000,000 shares of Common Stock pursuant to any stock purchase
or stock option plan or stock grants or other employee incentive program approved by the Board of Directors to the Issuer&rsquo;s
employees, directors, officers or consultants shall not be deemed an issuance of additional shares of Common Stock and shall have
no effect on the calculations contemplated by this Section 6.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For the purposes of
this Section 6(e)(i), the issuance of any warrants, options, grants, subscriptions or purchase rights with respect to shares of
Common Stock and the issuance of any securities convertible into or exchangeable for shares of Common Stock, or the issuance of
any warrants, options, grants or any rights with respect to such convertible or exchangeable securities, shall be deemed an issuance
at such time of the underlying Common Stock (the Common Stock issuable on the exercise, conversion or exchange of the options,
convertible securities or exchangeable securities, as the case may be) if the Net Consideration Per Share (as hereinafter determined)
that may be received by the Issuer for such Common Stock shall be less than the Applicable Conversion Rate at the time of such
issuance. Any obligation, agreement or undertaking to issue warrants, options, grants, subscriptions or purchase rights at any
time in the future shall be deemed to be an issuance at the time such obligation, agreement or undertaking is made or arises. No
adjustment of the Applicable Conversion Rate shall be made under this Section 6(e)(i) upon the issuance of any shares of Common
Stock that are issued pursuant to the exercise of any warrants, options, grants, subscriptions or purchase rights or pursuant to
the exercise of any conversion or exchange rights in any convertible securities if any adjustment shall previously have been made
upon the issuance of any such warrants, options, grants or subscriptions or purchase rights or upon the issuance of any convertible
securities (or upon the issuance of any warrants, options, grants or any rights therefore) as above provided. Any adjustment of
the Applicable Conversion Rate made with respect to this paragraph that relates to a warrant, option, grant, subscription or purchase
right with respect to shares of Common Stock shall be disregarded if, as and when all of such warrant, option, grant, subscription
or purchase right expires or is canceled without being exercised, so that the Applicable Conversion Rate in effect immediately
after such cancellation or expiration shall be equal to the Applicable Conversion Rate in effect immediately prior to the time
of the issuance of the expired or canceled warrant, option, subscription or purchase right, with such additional adjustments as
would have been made to that Applicable Conversion Rate had the expired or canceled warrants, options, subscriptions or purchase
rights not been issued. For purposes of this paragraph, the &ldquo;Net Consideration Per Share&rdquo; which may be received by
the Issuer shall be determined as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#9;(A)&#9;The &ldquo;Net
Consideration Per Share&rdquo; shall mean the amount equal to the total amount of consideration, if any, received by the Corporation
for the issuance of such warrants, options, grants, subscriptions or other purchase rights or convertible or exchangeable securities,
plus the minimum amount of consideration, if any, payable to the Issuer upon exercise or conversion thereof, divided by the aggregate
number of shares of Common Stock that would be issued if all such warrants, options, grants, subscriptions or other purchase rights
or convertible or exchangeable securities were exercised, exchanged or converted.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#9;(B)&#9;The &ldquo;Net
Consideration Per Share&rdquo; that may be received by the Issuer shall be determined in each instance as of the date of issuance
of warrants, options, grants, subscriptions or other purchase rights or convertible or exchangeable securities without giving effect
to any possible future price adjustments or rate adjustments that may be applicable with respect to such warrants, options, grants,
subscriptions or other purchase rights or convertible or exchangeable securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For purposes of this
Section 6(e)(i), if a part or all of the consideration received by the Issuer in connection with the issuance of shares of the
Common Stock or the issuance of any of the securities described in this Section 6(e)(i) consists of property other than cash, the
Issuer at its expense will promptly cause independent certified public accountants of recognized standing selected by the Issuer
to value or cause to be valued such property, whereupon such value shall be given to such consideration and shall be recorded on
the books of the Issuer with respect to receipt of such property.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Section 6(e)(i)
shall not apply under any of the circumstances which would constitute an Extraordinary Common Stock Event (as hereinafter defined
in Section 6(e)(ii)).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(ii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Upon Extraordinary Common Stock Event. </I>Upon the happening of an Extraordinary Common Stock Event (as hereinafter
defined), the Applicable Conversion Value (and all other conversion values set forth in Section 6(e)(i) above) shall, simultaneously
with the happening of such Extraordinary Common Stock Event, be adjusted by multiplying the then effective Applicable Conversion
Rate by a fraction, the numerator of which shall be the number of shares of Common Stock outstanding immediately prior to such
Extraordinary Common Stock Event and the denominator of which shall be the number of shares of Common Stock outstanding immediate]y
after such Extraordinary Common Stock Event, and the product so obtained shall thereafter be the Applicable Conversion Rate. The
Applicable Conversion Rate, as so adjusted, shall be readjusted in the same manner upon the happening of any successive Extraordinary
Common Stock<SUB>.</SUB> Event or Events. &ldquo;Extraordinary Common Stock Event&rdquo; shall mean (A) the issue of additional
shares of the Common Stock as a dividend or other distribution on outstanding Common Stock, (B) subdivision of outstanding shares
of Common Stock into a greater number of shares of the Common Stock or (C) combination of outstanding shares of the Common Stock
into a smaller number of shares of the Common Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(f)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Dividends. </I>In the event the Issuer shall make or issue, or fix a record date for the determination of holders of
Common Stock entitled to receive, a dividend or other distribution payable in securities of the Issuer other than shares of Common
Stock or in assets (excluding cash dividends or distributions), then and in each such event provision shall be made so that the
holders of Series C Preferred Stock shall receive upon conversion thereof in addition to the number of shares of Common Stock receivable
thereupon, the number of securities or such other assets of the Issuer that they would have received had their Series C Preferred
Stock been converted into Common Stock on the date of such event and had they thereafter, during the period from the date of such
event to and including the Conversion Date (as that term is hereafter defined in Section 6(j)), retained such securities or such
other assets receivable by them as aforesaid during such period, giving application to all adjustments called for during such period
under this Section 6 with respect to the rights of the holders of the Series C Preferred Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(g)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Recapitalization or Reclassification. </I>If the Common Stock issuable upon the conversion of the Series C Preferred
Stock shall be changed into the same or different number of shares of any class or classes of stock of the Issuer, whether by recapitalization,
reclassification or otherwise (other than a subdivision or combination of shares or stock dividend provided for elsewhere in this
Section 6, or a reorganization, merger, consolidation, share exchange, or sale, lease, exchange or transfer of assets provided
for elsewhere in this Section 6), then and in each such event, the holder of each share of Series C Preferred Stock shall have
the right thereafter to convert such share into the kind and amount of shares of stock and other securities and property receivable
upon such reorganization, reclassification or other change by holders of the number of shares of Common Stock into which such share
of Series C Preferred Stock could have been converted immediately prior to such reorganization, reclassification or change, all
subject to further adjustment as provided herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(h)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Capital Reorganization, Merger or Sale of Assets. </I>If at any time or from time to time there shall be a capital reorganization
of the Common Stock (other than a subdivision, combination, reclassification or exchange of shares provided for elsewhere in this
Section 6) or a merger. or consolidation of the Issuer with or into another corporation, a share exchange involving the Issuer
or the sale, lease, exchange or transfer of all or substantially all of the assets of the Issuer to any other person or entity,
then, as a part of such reorganization, merger, consolidation, share exchange or sale, lease, exchange or transfer, provision shall
be made so that the holders of the Series C Preferred Stock shall thereafter be entitled to receive upon conversion of the Series
C Preferred Stock, the number of shares of stock or other securities or property of the Issuer, or of the successor corporation
resulting from such merger, consolidation, share exchange or sale, lease, exchange or transfer, to which a holder of Common Stock
issuable upon conversion would have been entitled on such capital reorganization, merger, consolidation, share exchange or sale,
lease, exchange or transfer. In any such case, appropriate adjustment shall be made in the application of the provisions of this
Section 6 with respect to the rights of the holders of the Series C Preferred Stock after the reorganization, merger, consolidation,
share exchange or sale, lease, exchange or transfer to the end that the provisions of this Section 6 (including adjustment of the
Applicable Conversion Rate then in effect and the number of shares purchasable upon conversion of the Series C Preferred Stock)
shall be applicable after that event in as nearly equivalent a manner as may be practicable.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Each holder of Series
C Preferred Stock upon the occurrence of a capital reorganization, merger or consolidation of the Issuer, share exchange involving
the Issuer, or the sale, lease, exchange or transfer of all or substantially all its assets as such events are more fully set forth
in the first paragraph of this Section 6(h), shall have the option of electing treatment of his shares of Series C Preferred Stock
under either this Section 6(h) or Section 5(d) hereof, notice of which election shall be submitted in writing to the Issuer at
its principal offices no later than five days before the effective date of such event.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(i)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Accountants&rsquo; Certificate as to Adjustments. </I>In each case of an adjustment or readjustment of the Applicable
Conversion Rate, the Issuer shall furnish each holder of Series C Preferred Stock with a certificate, prepared by independent certified
public accountants of recognized standing and selected by the Board of Directors of the Issuer, showing such adjustment or readjustments,
and stating in detail the facts upon which such adjustment or readjustment is based. Such certificate shall establish conclusively
the accuracy of the adjustment or readjustments, and it shall be binding and conclusive on all parties, unless a written notice
of objection to the certificate is given to the Issuer by a holder of Series C Preferred Stock, within 60 days after the accountants&rsquo;
certificate is transmitted to the shareholders, setting forth in reasonable detail the basis of such objection.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(j)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Exercise of Conversion Privilege. </I>To exercise this conversion privilege, a holder of Series C Preferred Stock shall
surrender the certificate or certificates representing the shares or evidence of uncertificated shares being converted to the Issuer
at its principal office and shall give written notice to the Issuer at that office that such holder elects to convert such shares.
Such notice shall also state the name or names (with address or addresses) in which the certificate or certificates for shares
of Common Stock issuable upon such conversion shall be issued. The certificate or certificates for shares of or evidence of uncertificated
shares of Series C Preferred Stock surrendered for conversion shall be accompanied by proper assignment thereof to the Issuer or
in blank. The date when such written notice is received by the Issuer, together with the certificate or certificates representing
the shares or evidence of uncertificated shares of Series C Preferred Stock being converted, shall be the &ldquo;Conversion Date.&rdquo;
As promptly as practicable after the Conversion Date, the Corporation shall issue and deliver to the holder of the shares of Series
C Preferred Stock being converted, or on its written order, such certificate or certificates as it may request for the number of
whole shares of Common Stock issuable upon the conversion of such shares of Series C Preferred Stock in accordance with the provisions
of this Section 6, cash in the amount of all such shares of Series C Preferred Stock to which such shares are entitled under Section
4 hereof up to and including the Conversion Date, and cash as provided in Sections 6(a) and 6(k). Such conversion shall be deemed
to have been effected immediately prior to the close of business on the Conversion Date, and at such time the rights of the holder
as holder of the converted shares of Series C Preferred Stock shall cease and the person or persons in whose name or names any
certificate or certificates for shares of Class A Common Stock shall be issuable upon such conversion shall be deemed to have become
the holder or holders of record of the shares of Common Stock represented thereby.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(k)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Cash in Lieu of Fractional Shares. </I>No fractional shares of Common Stock or scrip representing fractional shares shall
be issued upon the conversion of shares of Series C Preferred Stock. Instead of any fractional shares of Common Stock that would
otherwise be issuable upon conversion of Series C Preferred Stock, the Issuer shall pay to the holder of the shares of Series C
Preferred Stock that were converted a cash payment calculated in accordance with Section 2.6 of the Merger Agreement. The determination
as to whether or not any fractional shares are issuable shall be based upon the total number of shares of Series C Preferred Stock
being converted at any one time by any holder thereof, not upon each share of Series C Preferred Stock being converted.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(l)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Partial Conversion. </I>In the event some but not all of the shares of Series C Preferred Stock represented by a certificate
or certificates surrendered by a holder or evidence of uncertificated shares are converted, the Issuer shall execute and deliver
to or on the order of the holder, at the expense of the Issuer, a new certificate representing the number of shares of Series C
Preferred Stock that were not converted.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(m)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Reservation of Common Stock. </I>The Issuer shall at all times reserve and keep available out of its authorized but unissued
shares of Common Stock, solely for the purpose of effecting the conversion of the shares of the Series C Preferred Stock, such
number of its shares of Common Stock as shall from time to time be sufficient to effect the conversion of all of the then outstanding
shares of the Series C Preferred Stock, and if at any time the number of authorized but unissued shares of Common Stock shall not
be sufficient to effect the conversion of all then outstanding shares of the Series C Preferred Stock, the Issuer shall take such
corporate action as may be necessary to increase its authorized but unissued shares of Common Stock to such number of shares as
shall be sufficient for such purpose.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(n)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>No Reissuance of Series C Preferred Stock. </I>No share or shares of Series C Preferred Stock acquired by the Issuer
by reason of redemption, purchase, conversion or otherwise shall be reissued, and all such shares shall be cancelled, retired and
eliminated from the number of shares that the Issuer shall be authorized to issue. The Issuer may from time to time take such appropriate
corporate action as may be necessary to reduce the authorized number of shares of the Series C Preferred Stock accordingly.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 31.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Redemption.</I></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Optional Redemption by Issuer. </I>Subject to prior approval by the Board of Governors of the Federal Reserve System,
on or after the tenth anniversary of the Reliance Original Issue Date, the Issuer, at its option, may redeem, in whole or in part,
at any time and from time to time, the shares of Series C Preferred Stock at the time outstanding, upon notice given as provided
in Section 7(c) below, at a redemption price equal to the sum of (i) the Liquidation Amount per share and (ii) except as otherwise
provided below, any accrued and unpaid dividends (including, if applicable as provided in Section 4(a) above, dividends on such
amount) (regardless of whether any dividends are actually declared) to, but excluding, the date fixed for redemption.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The redemption price
for any shares of Series C Preferred Stock shall be payable on the redemption date to the holder of such shares against surrender
of the certificate(s) evidencing such shares to the Issuer or its agent. Any declared but unpaid dividends payable on a redemption
date that occurs subsequent to the Dividend Record Date for a Dividend Period shall not be paid to the holder entitled to receive
the redemption price on the redemption date, but rather shall be paid to the holder of record of the redeemed shares on such Dividend
Record Date relating to the Dividend Payment Date as provided in Section 4 above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>No Sinking Fund. </I>The Series C Preferred Stock will not be subject to any mandatory redemption, sinking fund or other
similar provisions and shall be perpetual Preferred Stock unless converted into Common Stock as provided in Section 6. Holders
of Series C Preferred Stock will have no right to require redemption or repurchase of any shares of Series C Preferred Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Notice of Redemption. </I>Notice of every redemption of shares of Series C Preferred Stock shall be given by first class
mail, postage prepaid, addressed to the holders of record of the shares to be redeemed at their respective last addresses appearing
on the books of the Issuer. Such mailing shall be at least 30 days and not more than 60 days before the date fixed for redemption.
Any notice mailed as provided in this Subsection shall be conclusively presumed to have been duly given, whether or not the holder
receives such notice, but failure duly to give such notice by mail, or any defect in such notice or in the mailing thereof, to
any holder of shares of Series C Preferred Stock designated for redemption shall not affect the validity of the proceedings for
the redemption of any other shares of Series C Preferred Stock. Notwithstanding the foregoing, if shares of Series C Preferred
Stock are issued in book-entry form through The Depository Trust Company or any other similar facility, notice of redemption may
be given to the holders of Series C Preferred Stock at such time and in any manner permitted by such facility. Each notice of redemption
given to a holder shall state: (1) the redemption date; (2) the number of shares of Series C Preferred Stock to be redeemed and,
if less than all the shares held by such holder are to be redeemed, the number of such shares to be redeemed from such holder;
(3) the redemption price; and (4) the place or places where certificates for such shares are to be surrendered for payment of the
redemption price.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(d)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Partial Redemption. </I>In case of any redemption of part of the shares of Series C Preferred Stock at the time outstanding,
the shares to be redeemed shall be selected either <I>pro rata </I>or in such other manner as the Board of Directors or a duly
authorized committee thereof may determine to be fair and equitable. Subject to the provisions hereof, the Board of Directors or
a duly authorized committee thereof shall have full power and authority to prescribe the terms and conditions upon which shares
of Series C Preferred Stock shall be redeemed from time to time. If fewer than all the shares represented by any certificate are
redeemed, a new certificate shall be issued representing the unredeemed shares without charge to the holder thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(e)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Effectiveness of Redemption. </I>If notice of redemption has been duly given and if on or before the redemption date
specified in the notice all funds necessary for the redemption have been deposited by the Issuer, in trust for the <I>pro rata
</I>benefit of the holders of the shares called for redemption, with a bank or trust company doing business in the State of Arkansas
or the State of New York, and having a capital and surplus of at least $500 million and selected by the Board of Directors, so
as to be and continue to be available solely therefor, then, notwithstanding that any certificate for any share so called for redemption
has not been surrendered for cancellation, on and after the redemption date dividends shall cease to accrue on all shares so called
for redemption, all shares so called for redemption shall no longer be deemed outstanding and all rights with respect to such shares
shall forthwith on such<SUB>.</SUB> redemption date cease and terminate, except only the right of the holders thereof to receive
the amount payable on such redemption from such bank or trust company, without interest. Any funds unclaimed at the end of three
years from the redemption date shall, to the extent permitted by law, be released to the Issuer, after which time the holders of
the shares so called for redemption shall look only to the Issuer for payment of the redemption price of such shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 32.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Voting Rights</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>General. </I>The holders of Series C Preferred Stock shall not have any voting rights except as set forth below or as
otherwise from time to time required by law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Preferred Stock Directors. </I>Whenever, at any time or times, dividends payable on the shares of Series C Preferred
Stock have not been paid for an aggregate of six quarterly Dividend Periods or more, whether or not consecutive, the authorized
number of directors of the Issuer shall automatically be increased by two and the holders of the Series C Preferred Stock shall
have the right, with holders of shares of any one or more other classes or series of Voting Parity Stock outstanding at the time,
voting together as a class, to elect two directors (hereinafter the &ldquo;<U>Preferred Directors</U>&rdquo; and each a &ldquo;<U>Preferred
Director</U>&rdquo;) to fill such newly created directorships at the Issuer&rsquo;s next annual meeting of stockholders (or at
a special meeting called for that purpose prior to such next annual meeting) and at each subsequent annual meeting of stockholders
until dividends are resumed for two (2) consecutive quarterly Dividend Periods, at which time such right shall terminate with respect
to the Series C Preferred Stock, except as herein or by law expressly provided, subject to revesting in the event of each and every
subsequent default of the character above mentioned; <I>provided </I>that it shall be a qualification for election for any Preferred
Director that the election of such Preferred Director shall not cause the Issuer to violate any corporate governance requirements
of any securities exchange or other trading facility on which securities of the Issuer may then be listed or traded that listed
or traded companies must have a majority of independent directors. Upon any termination of the right of the holders of shares of
Series C Preferred Stock and/or Voting Parity Stock as a class to vote for directors as provided above, the Preferred Directors
shall cease to be qualified as directors, the term of office of all Preferred Directors then in office shall terminate immediately
and the authorized number of directors shall be reduced by the number of Preferred Directors elected pursuant hereto. Any Preferred
Director may be removed at any time, with or without cause, and any vacancy created thereby may be filled, only by the affirmative
vote of the holders a majority of the shares of Series C Preferred Stock at the time outstanding voting separately as a class together
with the holders of shares of Voting Parity Stock, to the extent the voting rights of such holders described above are then exercisable.
If the office of any Preferred Director becomes vacant for any reason other than removal from office as aforesaid, the remaining
Preferred Director may choose a successor who shall hold office for the unexpired term in respect of which such vacancy occurred.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Class Voting Rights as to Particular Matters. </I>So long as any shares of Series C Preferred Stock are outstanding,
in addition to any other vote or consent of stockholders required by law or by the Charter, the vote or consent of the holders
of at least 66 2/3% of the shares of Series C Preferred Stock at the time outstanding, voting as a separate class, given in person
or by proxy, either in writing without a meeting or by vote at any meeting called for the purpose, shall be necessary for effecting
or validating:</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(i)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Authorization of Senior Stock. </I>Any amendment or alteration of the Certificate of Designations for the Series C Preferred
Stock or the Charter to authorize or create or increase the authorized amount of, or any issuance of, any shares of, or any securities
convertible into or exchangeable or exercisable for shares of, any class or series of capital stock of the Issuer ranking senior
to Series C Preferred Stock with respect to either or both the payment of dividends and/or the distribution of assets on any liquidation,
dissolution or winding up of the Issuer;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(ii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Amendment of Designated Preferred Stock. </I>Any amendment, alteration or repeal of any provision of the Certificate
of Designations for the Series C Preferred Stock or the Charter (including, unless no vote on such merger or consolidation is required
by Section 8(c)(iii) below, any amendment, alteration or repeal by means of a merger, consolidation or otherwise) so as to adversely
affect the rights, preferences, privileges or voting powers of the Series C Preferred Stock; or</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(iii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Share Exchanges, Reclassifications, Mergers and Consolidations. </I>Any consummation of a binding share exchange or reclassification
involving the Series C Preferred Stock, or of a merger or consolidation of the Issuer with another corporation or other entity,
unless in each case (x) the shares of Series C Preferred Stock remain outstanding or, in the case of any such merger or consolidation
with respect to which the Issuer is not the surviving or resulting entity, are converted into or exchanged for preference securities
of the surviving or resulting entity or its ultimate parent, and (y) such shares remaining outstanding or such preference securities,
as the case may be, have such rights, preferences, privileges and voting powers, and limitations and restrictions thereof, taken
as a whole, as are not materially less favorable to the holders thereof than the rights, preferences, privileges and voting powers,
and limitations and restrictions thereof, of Series C Preferred Stock immediately prior to such consummation, taken as a whole;
<I>provided, however</I>, that for all purposes of this Section 8(c), any increase in the amount of the authorized Preferred Stock,
including any increase in the authorized amount of Series C Preferred Stock necessary to satisfy preemptive or similar rights granted
by the Issuer to other persons prior to the Signing Date, or the creation and issuance, or an increase in the authorized or issued
amount, whether pursuant to preemptive or similar rights or otherwise, of any other series of Preferred Stock, or any securities
convertible into or exchangeable or exercisable for any other series of Preferred Stock, ranking equally with and/or junior to
Series C Preferred Stock with respect to the payment of dividends (whether such dividends are cumulative or non-cumulative) and
the distribution of assets upon liquidation, dissolution or winding up of the Issuer will not be deemed to adversely affect the
rights, preferences, privileges or voting powers, and shall not require the affirmative vote or consent of, the holders of outstanding
shares of the Series C Preferred Stock.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Changes
after Provision for Redemption. </I>No vote or consent of the holders of Series C Preferred Stock shall be required pursuant to
Section 8(c) above if, at or prior to the time when any such vote or consent would otherwise be required pursuant to such Section,
all outstanding shares of the Series C Preferred Stock shall have been redeemed, or shall have been called for redemption upon
proper notice and sufficient funds shall have been deposited in trust for such redemption, in each case pursuant to Section 7 above.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Procedures
for Voting and Consents. </I>The rules and procedures for calling and conducting any meeting of the holders of Series C Preferred
Stock (including, without limitation, the fixing of a record date in connection therewith), the solicitation and use of proxies
at such a meeting, the obtaining of written consents and any other aspect or matter with regard to such a meeting or such consents
shall be governed by any rules of the Board of Directors or any duly authorized committee of the Board of Directors, in its discretion,
may adopt from time to time, which rules and procedures shall conform to the requirements of the Charter, the Bylaws, and applicable
law and the rules of any national securities exchange or other trading facility on which Series C Preferred Stock is listed or
traded at the time.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 33.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Record Holders. </I>To the fullest extent permitted by applicable law, the Issuer and the transfer agent for Series C
Preferred Stock may deem and treat the record holder of any share of Series C Preferred Stock as the true and lawful owner thereof
for all purposes, and neither the Issuer nor such transfer agent shall be affected by any notice to the contrary.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 34.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Notices. </I>All notices or communications in respect of Series C Preferred Stock shall be sufficiently given if given
in writing and delivered in person or by first class mail, postage prepaid, or if given in such other manner as may be permitted
in this Certificate of Designations, in the Charter or Bylaws or by applicable law. Notwithstanding the foregoing, if shares of
Series C Preferred Stock are issued in book-entry form through The Depository Trust Company or any similar facility, such notices
may be given to the holders of Series C Preferred Stock in any manner permitted by such facility.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 35.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>No Preemptive Rights. </I>No share of Series C Preferred Stock shall have any rights of preemption whatsoever as to any
securities of the Issuer, or any warrants, rights or options issued or granted with respect thereto, regardless of how such securities,
or such warrants, rights or options, may be designated, issued or granted.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 36.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Replacement Certificates. </I>The Issuer shall replace any mutilated certificate at the holder&rsquo;s expense upon surrender
of that certificate to the Issuer. The Issuer shall replace certificates that become destroyed, stolen or lost at the holder&rsquo;s
expense upon delivery to the Issuer of reasonably satisfactory evidence that the certificate has been destroyed, stolen or lost,
together with any indemnity that may be reasonably required by the Issuer.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 37.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Other Rights. </I>The shares of Series C Preferred Stock shall not have any rights, preferences, privileges or voting
powers or relative, participating, optional or other special rights, or qualifications, limitations or restrictions thereof, other
than as set forth herein or in the Charter or as provided by applicable law.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">IN WITNESS WHEREOF,
Simmons First National Corporation has caused this Certificate of Designations to be signed by George A. Makris, Jr., its Chairman
and Chief Executive Officer, and Patrick A. Borrow, its Secretary, has affixed its corporate seal hereto and attested said seal
on this 12th day of February, 2019.</P>

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<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="vertical-align: middle">SIMMONS FIRST NATIONAL CORPORATION</TD></TR>
<TR>
    <TD STYLE="vertical-align: middle; width: 5%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 27%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 10%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 5%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 27%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 26%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: middle">By:</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid">/s/ Patrick A. Burrow</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">By:</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid">/s/ George A. Makris, Jr.</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: middle">Name:</TD>
    <TD STYLE="vertical-align: middle">Patrick A. Burrow</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">Name:</TD>
    <TD STYLE="vertical-align: middle">George A. Makris, Jr.</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: middle">Title:</TD>
    <TD STYLE="vertical-align: middle">Executive Vice President,&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">Title:</TD>
    <TD COLSPAN="2" STYLE="vertical-align: middle">Chairman and Chief Executive Officer</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: middle">General Counsel and Secretary</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
</TABLE>
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