Presentation to Investors - Q3 2022 Update

November 2022

Joseph J. Thomas - President & CEO

Disclosure

This presentation contains forward-looking statements, including our expectations with respect to future events that are subject to various risks and uncertainties. Factors that could cause actual results to differ materially from management's projections, forecasts, estimates, and expectations include fluctuation in market rates of interest and loan and deposit pricing; adverse changes in the overall national economy, as well as adverse economic conditions in our specific market areas; maintenance and development of well-established and valued client relationships and referral source relationships; and acquisition or loss of key production personnel. Other risks that can affect the Bank are detailed from time to time in our quarterly and annual reports filed with the Federal Financial Institutions Examination Council. We caution readers that the list of factors above is not exclusive. The forward-looking statements are made as of the date of this presentation, and we may not undertake steps to update the forward-looking statements to reflect the impact of any circumstances or events that arise after the date the forward-looking statements are made. In addition, our past results of operations are not necessarily indicative of future performance.

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Agenda

Company Overview

Management & Model

Results for Q3 2022

Clients, Colleagues & Communities

Investment Summary

Our Company

Franchise Footprint

Company Highlights

Maryland

DC

Virginia

2001

Bank Established in

Vienna, VA

$964,278,863

Assets as of

September 30, 2022

1.15%

ROAA, Nine Months Ended

September 30, 2022

16.42%

Non-Interest Income/Total

Revenue

101

Total Employees

13.62%

CET1 Capital Ratio as of

September 30, 2022

61.98%

Efficiency Ratio, Nine

Months Ended September

30, 2022

0.59%

Cost of Funds, Nine

Months Ended September

30, 2022

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Top Quartile Profitability Amongst Peers(1)

Return on Average Assets (%)

1.27%

1.12%1.15%

VA Peer(1) YTD Median

ROAA: 0.95%

0.55%0.55%

0.04%

2017Y 2018Y 2019Y 2020Y 2021Y 2022YTD

Net Income ($M)

$10.7

$7.4

$7.7

$2.9$2.7

$0.2

2017Y 2018Y 2019Y 2020Y 2021Y 2022YTD

Return on Average Equity (%)

VA Peer(1) YTD Median

ROAE: 10.04%

Efficiency Ratio (%)

Highlights

  • Results of a three-year effort to implement a new strategic plan are currently on full display
  • Historically consistent performance leading to sustained growth in pre-tax,pre-provision profitability
  • Completed a bank-wide reorganization and balance sheet repositioning in 2018 under new leadership with Joe Thomas
  • While cyclical changes in the economy have led fee-based revenue to fall, the decline was largely offset by very strong core income from loan growth and NIM expansion
  • Profitability above median Virginia

peer levels(1)

Note: All references to financial data prior to holding company formation are bank level

Note: 2022YTD financial data as of the quarter ended September 30, 2022

(1) VA Peers include banks headquartered in Virginia with Total Assets

<$10.0B; YTD financial data as of most recently reported quarter on October 27, 2022

Source: S&P Capital IQ Pro

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Freedom Bank of Virginia published this content on 03 November 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 November 2022 17:02:02 UTC.