PCB Bancorp : Earnings Results Second Quarter 2023

Earnings Results

Second Quarter 2023

July 27, 2023

Forward-Looking Statement & Non-GAAP

Forward-Looking Statement

This presentation contains forward-looking statements. These forward-looking statements represent plans, estimates, objectives, goals, guidelines, expectations, intentions, projections and statements of our beliefs concerning future events, business plans, objectives, expected operating results and the assumptions upon which those statements are based. Forward-looking statements include without limitation any statement that may predict, forecast, indicate or imply future results, performance or achievements, and are typically identified with words such as "may," "could," "should," "will," "would," "believe," "anticipate," "estimate," "expect," "aim," "intend," "plan," or words or phases of similar meaning. We caution that the forward-looking statements are based largely on our expectations and are subject to a number of known and unknown risks and uncertainties that are subject to change based on factors which are, in many instances, beyond our control, including but not limited to the health of the national and local economies including the impact to the Company and its customers resulting from changes to, and the level of, inflation and interest rates; the Company's ability to maintain and grow its deposit base; loan demand and continued portfolio performance; the impact of adverse developments at other banks, including bank failures, that impact general sentiment regarding the stability and liquidity of banks that could affect our financial performance and our stock price; changes to valuations of the Company's assets and liabilities including the allowance for credit losses, earning assets, and intangible assets; changes to the availability of liquidity sources including borrowing lines and the ability to pledge or sell certain assets; the Company's ability to attract and retain skilled employees; customers' service expectations; cyber security risks; the Company's ability to successfully deploy new technology; the success of acquisitions and branch expansion; operational risks including the ability to detect and prevent errors and fraud; the effectiveness of the Company's enterprise risk management framework; costs related to litigation; changes in laws, rules, regulations, or interpretations to which the Company is subject; the effects of severe weather events, pandemics, other public health crises, acts of war or terrorism, and other external events on our business. These and other important factors are detailed in various securities law filings

made periodically by the Company, copies of which are available without charge on the SEC's website at www.sec.goveand the on the investor relations section of the Company's website at

www.mypcbbank.com. Actual results, performance or achievements could differ materially from those contemplated, expressed, or implied by the forward-looking statements. Any forward- looking statements presented herein are made only as of the date of this presentation, and we do not undertake any obligation to update or revise any forward-looking statements to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise, except as required by law.

Non-GAAP Financial Measures

This presentation contains non-GAAP financial measures. For purposes of SEC Regulation G, a non-GAAP financial measure is a numerical measure of the historical or future financial performance, financial position or cash flows that excludes amounts or is subject to adjustments that have the effect of excluding amounts that are included in the most directly comparable measure calculated and presented in accordance with GAAP. Pursuant to the requirements of the SEC Regulation G, reconciliation of non-GAAP measures to the most directly comparable GAAP measures are provided in the Non-GAAP Measures of this presentation.

References to the "Company," "we," or "us" refer to PCB Bancorp and references to the "Bank" refer to the Company's subsidiary, PCB Bank.

Corporate Profile

Market Information 7/25/23

Market Cap	$235.8 million
Stock Price Per Share	$16.44
52-Week Range	$13.11 - $20.19
Dividend Yield	4.38%
Dividend Payout Ratio (3Q22 - Q223)	27.51%
Outstanding Shares	14,343,590

Stock Information 2Q23 or 6/30/23

Diluted Earnings Per Share ("Diluted EPS")	$0.52
Cash Dividend Per Share	$0.18
Book Value ("BV") Per Share	$23.77
Tangible Common Equity ("TCE") Per Share (1)	$18.94
Number of Repurchased Stock (2)	0

1. Not presented in accordance with GAAP. See "Non-GAAP Measures" for reconciliation of these measures to their most comparable GAAP measures
2. Stock repurchase plan announced on 7/28/22 was completed in 1Q23. Repurchased and retired 747,938 shares at a weighted-average purchase price of $18.15 per share totaling $13.6 million

PCB Footprint

Historical Performance

1. At period end
2. Not presented in accordance with GAAP. See "Non-GAAP Measures" for reconciliation of these measures to their most comparable GAAP measures

2Q23 Highlights

	• Net income of $7.5 million, or $0.52 per diluted share
Operating Results	•	Provision for credit losses of $197 thousand
	•	ROAA of 1.19% & ROATCE (1) of 11.08%, net interest margin of 3.55%, and efficiency ratio of 55.9%

• Loans held-for-investment ("HFI loans") Increased $30.0 million, or 1.4%, to $2.12 billion

Loans

• Loans held-for-sale ("HFS loans") decreased $1.3 million, or 9.0%, to $13.1 million.
• Average loans yield was 6.30% compared to 6.11% for 1Q23
• Total loans to deposits ratio was 97.6%
• Quarterly loan production was $123.3 million compared to $111.7 million for 1Q23

Asset Quality	• ACL for loans was $24.9 million, or 1.17% to HFI loans
• Past due loans were $428 thousand, or 0.02% to HFI loans, and NPLs were $3.8 million, or 0.18% to HFI loans
	• Total deposits increased $46.5 million, or 2.2%, to $2.19 billion
	• Core deposits(1) were $1.52 billion, or 69.3% of total deposits
Deposits	• Non-interest bearing deposits were $635.3 million, or 29.0% of total deposits
	• Uninsured deposits were $1.03 billion, or 47.3% of total deposits

• Cost of average interest-bearing deposits and total deposits were 3.97% and 2.81%, respectively

Capital & Liquidity

• Declared and paid quarterly cash dividend of $0.18 per share compared to $0.15 per share for 1Q23
• TBV per share increased to $18.94
• Total cash and available borrowing capacity covers 91.1% of uninsured deposits compared to 75.1% at 12/31/22

1. Not presented in accordance with GAAP. See "Non-GAAP Measures" for reconciliation of these measures to their most comparable GAAP measures