Tri-County Financial Group, Inc. · OTC:TYFG
Tri-County Financial — Q3 2026 Earnings Presentation
40 slides from Tri-County Financial's earnings presentation, Oct 26, 2026
Slide 1: Q3 2026 Results Presentation
Q3 2026 Results Presentation October 26, 2026
Slide 2: Forward-Looking Statements
1 Forward-Looking Statements Readers should note that in addition to the historical information contained herein, this presentation contains, and future oral and written statements of the Company and its management may contain, “forward-looking statements” within the meanings of the Private Securiti
Slide 3: Non-GAAP Financial Measures and Important Information
2 Non-GAAP Financial Measures This presentation includes certain non-GAAP financial measures. While the Company believes these are useful measures for investors, they are not presented in accordance with GAAP. You should not consider non- GAAP measures in isolation or as a substitute for the most di
Slide 4: Third quarter highlights
3 Exceptional asset quality Strong profitability Resilient net interest margin supported by low cost deposit base n Loan balances grew 2.5%, on annualized basis, when compared to Q2 2026 n Nonperforming assets represented only 0.16% of total assets at September 30, 2026, compared to 0.15% at June 30
Slide 5: Company Snapshot
4 Company Snapshot Overview ü Company incorporated in 1982 from a base of family-owned banks and completed its IPO in October 2019 ü Headquartered in Bloomington, Illinois, with operations throughout Illinois, eastern Iowa, and suburban St. Louis ü Strong, granular, and low-cost deposit franchise wi
Slide 6: Earnings Overview
5 4.32% 0.08% (0.05)% 0.02% 0.02% (0.02)% (0.04)% 0.02% 4.35% 2Q26 Loans Loan Discount Accretion Loan Fees Nonaccrual Interest Recoveries Other Earning Assets Deposit Costs Other Funding Costs 3Q26 Earnings Overview Prior Quarter Current Quarter ($000) 2Q26 Non-GAAP Adj.1 Adjusted 2Q261 3Q26 Non-GAA
Slide 7: Deposit Overview
6 5.50% 1.31% 2.03% Fed Funds Rate HBT Cost of Deposits* Peer Median Cost of Deposits* 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 —% 1.00% 2.00% 3.00% 4.00% 5.00% 6.00% Deposit Overview Deposit Base Highlights n Highly granular deposit base with balances down $5.6 million primarily due t
Slide 8: Net Interest Margin
7 Net Interest Margin Annual Quarterly FTE NIM*1 GAAP NIM* Accretion of acquired loan discounts contribution to NIM* FTE NIM1 GAAP NIM Accretion of acquired loan discounts contribution to NIM 3.60% 4.15% 4.01% 4.17% 4.35%* 3.54% 4.09% 3.96% 4.13% 4.30%* 2022 2023 2024 2025 3Q26 YTD 4.18% 4.16% 4.25%
Slide 9: Loan Portfolio Overview: Commercial and Commercial Real Estate
8 Loan Portfolio Overview: Commercial and Commercial Real Estate n $2.26 billion portfolio as of September 30, 2026 n $1.14 billion in non-owner occupied CRE loans primarily supported by rental cash flow of the underlying properties n $476 million in construction and land development loans2 primaril
Slide 10: Loan Portfolio Overview: Selected Portfolios
9 Loan Portfolio Overview: Selected Portfolios n $595 million portfolio as of September 30, 2026 n Borrower operations focus primarily on corn and soybean production n Federal crop insurance programs mitigate production risks n No customer accounts for more than 3% of the agriculture portfolio n 3.8
Slide 11: Loan Portfolio Overview: ACL and Asset Quality
10 Loan Portfolio Overview: ACL and Asset Quality 3Q26 ACL on Loans Activity ($000) Watch List and Nonaccrual Loans ($000) As of 6/30/26 Change As of 9/30/26 Pass-Watch $ 244,767 $ (23,071) $ 221,696 Special Mention 27,736 3,137 30,873 Substandard 101,052 7,154 108,206 Nonaccrual1 9,083 1,015 10,098
Slide 12: Wealth Management Overview
11 4.8 5.9 5.7 6.9 8.6 9.3 9.2 1.7 1.9 2.4 2.0 1.6 2.1 1.6 0.4 0.2 0.8 0.6 0.5 0.5 0.3 Asset Management and Trust Services Agricultural Services - Farm Management Agricultural Services - Real Estate Brokerage Investment Brokerage Total 2020 2021 2022 2023 2024 2025 3Q26 YTD 0 1 2 3 4 5 6 7 8 9 10 11
Slide 13: Securities Portfolio Overview
12 Securities Portfolio Overview Securities Overview Key Investment Portfolio Metrics ($000) AFS HTM Total Amortized Cost $ 1,147,049 $ 417,491 $ 1,564,540 Unrealized Gain/(Loss) (81,498) (43,588) (125,086) Allowance for Credit Losses — — — Fair Value 1,065,551 373,903 1,439,454 Book Yield 3.69 % 2.
Slide 14: Capital and Liquidity Overview
13 Capital and Liquidity Overview As of 9/30/26 Balance of Cash and Cash Equivalents $126,260 Market Value of Unpledged Securities 933,903 Available FHLB Advance Capacity 1,482,782 Available FRB Discount Window Capacity 105,056 Available Fed Fund Lines of Credit 80,000 Total Estimated Sources of Liq
Slide 15: Near-Term Outlook
14 Near-Term Outlook nLoan balances are expected to be relatively flat in 4Q26, with pipelines consistent with 3Q26 and 4Q25, but higher levels of loan payoffs are expected in 4Q26. nNIM expected to be up modestly in 4Q26, with asset repricing expected to outpace growth in cost of funds based on the
Slide 16: Our History
15 Our History – Long track record of organic and acquisitive growth All five banks owned by HBT Financial, Inc. merge into Heartland Bank and Trust Company 1997 1964 - 1982 George Drake purchases El Paso National Bank and assembles group of banks in rural communities in central IL M.B. Drake starts
Slide 17: Our Markets
16 Central Illinois: 53 Chicago MSA: 21 Suburban St. Louis: 5 Iowa: 4 Our Markets Source: S&P Capital IQ; Financial data as of September 30, 2026. Full-Service Branch Locations Central Illinois: 66% Chicago MSA: 29% Suburban St. Louis: 3% Iowa: 2% $5.8bn Central Illinois: 38% Chicago MSA: 46% Suburb
Slide 18: Business Strategy
17 Business Strategy n Drake family involved in central Illinois banking since 1920 n Management lives and works in our communities n Community banking and relationship-based approach stems from adherence to our Midwestern values n Committed to providing products and services to support the unique n
Slide 19: Experienced executive management team
18 Experienced executive management team with deep community ties Fred L. Drake Executive Chairman 43 years with Company 46 years in industry J. Lance Carter President and Chief Executive Officer 25 years with Company 32 years in industry Lawrence J. Horvath Chief Lending Officer 16 years with Compa
Slide 20: Talented Board of Directors
19 Talented Board of Directors with deep financial services industry experience Fred L. Drake Executive Chairman • Director since 1984 • 43 years with Company • 46 years in industry J. Lance Carter Director • Director since 2011 • President & CEO of HBT Financial and Heartland Bank • 25 years with C
Slide 21: Investment Highlights
20 Investment Highlights 3 1 2 4 Track record of successfully integrating acquisitions Consistent performance through economic cycles and consistent out-performance of peers drives long-term shareholder value Strong, granular, low-cost deposit base provides funding for diversified loan portfolio and
Slide 22: Consistent performance through economic cycles
21 Consistent performance through economic cycles. . . Drivers of Profitability Strong, granular, low-cost deposits1 Relationship-based business model that has allowed us to cultivate and underwrite attractively priced loans A robust credit risk management framework to prudently manage credit qualit
Slide 23: Consistent out-performance of peers
22 . . . and consistent out-performance of peers. . .1 CET1 Capital Ratio (%) 12.12 13.21 14.42 12.64 11.08 11.83 12.31 12.07 HBT Peer Median 2023 2024 2025 1H26 Adjusted Return on Average Equity (%) 17.34 14.55 13.70 14.4313.37 12.12 12.16 13.14 HBT Peer Median 2023 2024 2025 1H26 Cost of Funds (%)
Slide 24: Drives long-term shareholder value
23 . . . drives long-term shareholder value1 HBT Financial, Inc. Peer Median S&P 600 Small Cap Bank Index 10/11/2019 (IPO Date) 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025 9/30/2026 $50.00 $100.00 $150.00 $200.00 $250.00 $300.00 $350.00 Cumulative Total Return (Initi
Slide 25: Strong, granular, low-cost deposit base
24 0.14 0.07 0.07 0.60 1.30 1.19 1.19 0.41 0.20 0.36 1.46 2.03 1.86 1.68 HBT Peer Median 2020 2021 2022 2023 2024 2025 1H26 Strong, granular, low-cost deposit base provides funding for . . . Cost of Deposits (%) Remains Consistently Below Peers 1 2 As of 9/30/26 Number of Accounts (000) Average Acco
Slide 26: Diversified loan portfolio and loan growth opportunities
25 . . . diversified loan portfolio and loan growth opportunities2 September 30, 2026 Balance ($000) Percent Commercial and industrial $ 509,973 10.7 % Commercial real estate - owner occupied 515,800 10.8 % Commercial real estate - non- owner occupied 1,136,065 23.7 % Construction and land developme
Slide 27: Track record of successfully integrating acquisitions
26 2026 CNB Bank Shares, Inc. (CNB Bank & Trust, N.A.) Carlinville, IL $1.5bn deposits Track record of successfully integrating acquisitions BankPlus Morton, IL $231mm deposits 2007 2012 Bank of Illinois Normal, IL FDIC-assisted $176mm deposits Western Springs National Bank Western Springs, IL FDIC-
Slide 28: Prudent risk management
27 Prudent risk management n Risk management culture instilled by management n Well-diversified loan portfolio across commercial, CRE, and residential n Primarily originated across in-footprint borrowers n Centralized credit underwriting group that evaluates the vast majority of exposures over $750,
Slide 29: Appendix
28 Appendix
Slide 30: Non-GAAP Reconciliations: Adjusted Net Income and ROAA
29 Non-GAAP Reconciliations Adjusted Net Income and Adjusted ROAA ($000) 2023 2024 2025 3Q26 YTD 2Q26 3Q26 Net income $ 65,842 $ 71,780 $ 77,008 $ 70,436 $ 27,844 $ 31,392 Adjustments: Acquisition expenses1 (13,691) — (999) (16,928) (257) (1,005) Net earnings (losses) on closed or sold operations —
Slide 31: Non-GAAP Reconciliations: Adjusted Earnings Per Share
30 Non-GAAP Reconciliations Adjusted Earnings Per Share ($000) 3Q26 Numerator: Net income $ 31,392 Adjusted net income $ 31,411 Denominator: Weighted average common shares outstanding 36,365,612 Dilutive effect of outstanding restricted stock units 123,811 Weighted average common shares outstanding,
Slide 32: Non-GAAP Reconciliations: ROATCE, Adjusted ROAE
31 Non-GAAP Reconciliations (cont’d) ROATCE, Adjusted ROAE, and Adjusted ROATCE ($000) 2023 2024 2025 3Q26 YTD 2Q26 3Q26 Total stockholders’ equity $ 450,928 $ 515,368 $ 581,449 $ 733,380 $ 758,243 $ 770,236 Less: goodwill (57,266) (59,820) (59,820) (77,855) (83,487) (81,949) Less: intangible assets
Slide 33: Non-GAAP Reconciliations: Net Interest Margin
32 Non-GAAP Reconciliations (cont’d) ($000) 2022 2023 2024 2025 3Q26 YTD Net interest income $ 145,874 $ 191,072 $ 188,850 $ 198,895 $ 195,764 Tax-equivalent adjustment1 2,499 2,758 2,242 2,203 2,369 Net interest income (tax-equivalent basis)1 $ 148,373 $ 193,830 $ 191,092 $ 201,098 $ 198,133 Averag
Slide 34: Non-GAAP Reconciliations: Efficiency Ratio
33 Non-GAAP Reconciliations (cont’d) Efficiency Ratio (tax-equivalent basis) ($000) 2023 2024 2025 3Q26 YTD Total noninterest expense $ 130,964 $ 124,007 $ 129,418 $ 137,546 Less: amortization of intangible assets (2,670) (2,839) (2,726) (3,797) Noninterest expense excluding amortization of intangib
Slide 35: Non-GAAP Reconciliations: Tangible Common Equity
34 Non-GAAP Reconciliations (cont’d) ($000) 2022 2023 2024 2025 3Q26 Tangible common equity Total equity $ 373,632 $ 489,496 $ 544,605 $ 615,498 $ 754,091 Less: goodwill (29,322) (59,820) (59,820) (59,820) (81,949) Less: intangible assets (1,070) (20,682) (17,843) (15,117) (41,403) Tangible common e
Slide 36: Non-GAAP Reconciliations: Tangible Book Value Per Share
35 Non-GAAP Reconciliations (cont’d) ($000) 3Q25 2Q26 3Q26 Tangible common equity Total equity $ 599,129 $ 764,733 $ 754,091 Less: goodwill (59,820) (81,949) (81,949) Less: intangible assets (15,760) (42,858) (41,403) Tangible common equity $ 523,549 $ 639,926 $ 630,739 Shares outstanding 31,455,803
Slide 37: Non-GAAP Reconciliations: Core Deposits
36 Non-GAAP Reconciliations (cont’d) ($000) 2023 2024 2025 3Q26 Total deposits $ 4,401,437 $ 4,318,254 $ 4,359,263 $ 5,752,432 Less: time deposits of $250,000 or more (130,183) (202,196) (201,365) (384,516) Less: brokered deposits (144,880) — — — Core deposits $ 4,126,374 $ 4,116,058 $ 4,157,898 $ 5
Slide 38: Non-GAAP Reconciliations: Adjusted Pre-Tax ROAA (2011 to 2013)
37 Non-GAAP Reconciliations (cont’d) ($000) 2011 2012 2013 Income before income tax expense $ 47,301 $ 71,384 $ 46,134 Adjustments: Bargain purchase gain 25,417 11,361 — Realized gains (losses) on sale of securities — 9,683 (9,143) Net positive adjustments on FDIC indemnification asset and true-up l
Slide 39: Peer Group Members
38 Peer Group Members Ticker Symbol Company Name BFC Bank First Corporation BY Byline Bancorp, Inc. COFS ChoiceOne Financial Services, Inc. CIVB Civista Bancshares, Inc. EQBK Equity Bancshares, Inc. FMNB Farmers National Banc Corp. THFF First Financial Corporation FMBH First Mid Bancshares, Inc. GAB
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0 118 104 0 118 104 0 118 104 165 211 142 165 211 142 245 230 168 245 230 168 255 255 255
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