Source: SNL Financial 1

California Banks and Thrifts: Monthly Stock Performance Report

March 2015

Inside this issue

Overview ……………………………………………….2

Ratios by Asset Size………………………..……...3

Industry Ratio Comparison………………….….4

Assets Under $150M……………………………...5

Assets Between $150M and $250M……....6

Assets Between $250M and $500M…... ...7

Assets Between $500M and $1B…………….8

Assets Between $1B and $5B………………...9

Assets Between $5B and $10 B…………….10

Assets Over $10B………………………………...10

California Banks & Thrifts:

Monthly Stock Performance Report

November 30, 2018

Source: SNL Financial 2

MONTHLY STOCK PERFORMANCE REPORT OVERVIEW OF MARKET PERFORMANCE BY PEER GROUP

California Banks: Overview of Market Performance by

Asset Group for November 2018

Group count remained constant over the period, leaving the number of banks covered at 2 for the assets under $150M group. Of the two publicly-traded banks with assets under $150M, 1 reported a monthly gain in stock price, and 1 was unchanged in price. Neither stock gained in excess of 10% during the period. The average Price-to-Tangible-Book Value (P/TBV) was up during the month, closing at 0.84x. The Price-to-Earnings Ratio (P/E) is not reported. P/TBV ratio is comprised of only one of the two banks.

The overall count remained constant in the $150M—$250M range during the period leaving the count at 10 banks. Of the 10 publicly-traded banks in the asset range, 4 reported monthly gains in stock price, 4 declined in price, and 2 were unchanged. No banks reported a gain in stock price over 10% in November. The average P/TBV ratio for banks between $150—$250M was mostly flat over the month, closing at 1.35x. P/E decreased slightly, closing November at 16.67x.

Group count held steady in the $250M—$500M asset range, as there were no acquisitions and group composition also remained constant. Of the 19 publicly-traded banks in the category, 7 experienced gains in monthly stock price, 10 sustained price declines, and 2 were unchanged. Three banks in the category reported significant price gains over 10% during the period: RVCB (25.4%), MNBO (14.6%) and SMAL (63.6%). P/TBV ratio increased slightly, closing the month at 1.35x. P/E ratio decreased, ending the month at 17.80x.

Group count and composition remained constant for the $500M—$1B asset range during the month, leaving the total count at 21 banks. Of the 21 companies, 3 recorded stock price gains, 16 declined in stock price and 2 was unchanged. No banks reported significant price gains over 10% for the asset category during the period. P/TBV was up during the month, closing at 1.73x. P/E was down, ending the month at 18.79x. The ratio remained the highest P/E multiple across all asset categories.

Group count held steady over the period, leaving the count at 21 banks for the $1B—$5B group. For the 21 remaining companies in the group, 11 reported stock price gains, and 10 declined in stock price. No banks reported significant price gains over 10% for the period. P/TBV was up for the category, closing the month at 1.64x. P/E was down, ending the month at 17.62x.

Both the count and composition of the group held steady during the month. Of the 7 banks in the category, 6 banks increased in price during the period, and 1 declined in price. No banks reported significant price gains over 10% for the period. P/TBV was up for the category, ending the period at 1.99x and no longer the highest multiple for all categories. P/E was also up, closing November at 18.39x.

Group count remained constant for the $5B—$10B asset category during the month of November. Of the 8 banks in the asset range, 7 banks reported a stock price gain and 1 declined in stock price. One bank reported significant price gains over 10% for the period: OPB, which was up 13.7%. P/TBV was up sharply for the category, ending the period at 2.02x, and remains the highest P/TBV multiple for all asset categories. P/E was also up sharply, closing November at 18.47x.

Under $150M —2 Banks

$150M-$250M —10 Banks

$250M-$500M —19 Banks

$500M-$1B —21 Banks

$1B-$5B —21 Banks

$5B-$10B — 8 Banks

$10B-$100B — 7 Banks

As of November 30, the number of banks covered in the Monthly Stock Report held constant, as no banks dropped from coverage during the month. This left the overall total count at 89 banks. Group composition otherwise held constant across all categories.

Source: SNL Financial 3

MONTHLY STOCK PERFORMANCE REPORT EARNINGS AND BOOK VALUE RATIOS BY SIZE

11/30/2018 12/31/2017

Total Assets:

$150M - $250M 16.67 16.89 14.21 -1.33% 17.33%

$250M - $500M 17.80 19.77 15.65 -9.95% 13.75%

$500M - $1Bn 18.79 19.16 19.22 -1.92% -2.23%

$1Bn - $5Bn 17.62 17.86 18.45 -1.31% -4.48%

$5Bn - $10Bn 18.47 16.38 21.77 12.77% -15.14%

Over $10Bn 18.39 17.35 18.69 5.98% -1.59%

Average LTM P/E Ratio (x)

Previous Month

% Change Monthly

% Change YTD

5.0x

10.0x

15.0x

20.0x

25.0x

$150M -$250M

$250M -$500M

$500M - $1Bn $1Bn - $5Bn $5Bn - $10Bn Over $10Bn

P/E Ratio Previous Month

11/30/2018

Total Assets:

$150M - $250M 1.35 1.35 1.29 0.27% 5.19%

$250M - $500M 1.35 1.33 1.26 1.34% 7.14%

$500M - $1Bn 1.73 1.72 1.66 0.63% 4.21%

$1Bn - $5Bn 1.64 1.62 1.77 0.72% -7.78%

$5Bn - $10Bn 2.02 1.70 1.86 18.45% 8.60%

Over $10Bn 1.99 1.90 2.13 4.90% -6.51%

Average P/TBV Ratio (x)

Previous Month 12/31/2017

% Change Monthly

% Change YTD

0.5x

1.0x

1.5x

2.0x

2.5x

$150M -$250M

$250M -$500M

$500M - $1Bn $1Bn - $5Bn $5Bn - $10Bn Over $10Bn

P/TBV Ratio Previous Month

Source: SNL Financial 4

MONTHLY STOCK PERFORMANCE REPORT INDUSTRY-WIDE RATIO COMPARISON

California Banks

SNL Banks

California Banks

SNL Banks

California Banks

SNL Banks

Total Assets:

$250M - $500M 1.35 1.77 1.33 1.71 1.26 1.63

$500M - $1Bn 1.73 1.70 1.72 1.52 1.66 1.70

$1Bn - $5Bn 1.64 1.77 1.62 2.09 1.77 2.04

$5Bn - $10Bn 2.02 2.27 1.70 2.69 1.86 2.47

Over $10Bn 1.99 1.82 1.90 1.84 2.13 1.99

Carpenter California Banks - SNL Bank Index: Price/Tangible Book Ratio (x)

11/30/2018 Previous Month 12/31/2017

0.5x

1.0x

1.5x

2.0x

2.5x

$250M - $500M $500M - $1Bn $1Bn - $5Bn $5Bn - $10Bn Over $10Bn

California Banks SNL Banks

Current Month Comparison

California Banks

SNL Banks

California Banks

SNL Banks

California Banks

SNL Banks

Total Assets:

$250M - $500M 17.80 22.11 19.77 17.14 15.65 26.93

$500M - $1Bn 18.79 19.11 19.16 18.69 19.22 21.68

$1Bn - $5Bn 17.62 17.60 17.86 21.54 18.45 20.60

$5Bn - $10Bn 18.47 18.43 16.38 22.03 21.77 20.50

Over $10Bn 18.39 13.13 17.35 15.56 18.69 16.47

Previous Month 12/31/201711/30/2018

Carpenter California Banks - SNL Bank Index: Price/LTM EPS Ratio (x)

5.0x

10.0x

15.0x

20.0x

25.0x

30.0x

$250M - $500M $500M - $1Bn $1Bn - $5Bn $5Bn - $10Bn Over $10Bn

California Banks SNL Banks

Current Month Comparison

Source: SNL Financial 5

MONTHLY STOCK PERFORMANCE REPORT CALIFORNIA BANKS AND THRIFTS WITH TOTAL ASSETS LESS THAN $150 MILLION

Symbol Name Monthly Mkt Cap LTM Price/

Date Price ($) Volume ($MM) P/E T. Book ($) (%) ($) (%)

CABB California Business Bank 26-Oct 0.14 0 13.21 NM NM 0.00 0.0% -0.02 -12.5%

CAIB California International Bank, N.A. 13-Nov 0.08 489 12.78 NM 0.84 0.03 NA -0.03 -25.0%

Average NM 0.84

TOTAL MARKET CAPITALIZATION: $26 MILLION Median NM 0.84

High 0.00 0.84

Low 0.00 0.84

Monthly ChangeLast Trade YTD Change

11/30/2018

Source: SNL Financial 6

MONTHLY STOCK PERFORMANCE REPORT CALIFORNIA BANKS AND THRIFTS WITH TOTAL ASSETS BETWEEN $150 MILLION AND $250 MILLION

Symbol Name Monthly Mkt Cap LTM Price/ Prev Month

Date Price ($) Volume ($MM) P/E T. Book Close ($) ($) (%) ($) (%)

CALW CalWest Bancorp 30-Nov 0.39 83,584 29 19.50 1.80 0.40 -0.01 -2.5% 0.01 2.6%

CCBC Chino Commercial Bancorp 30-Nov 16.30 6,898 30 15.75 1.44 17.10 -0.80 -4.7% 0.26 1.6%

CMUV CMUV Bancorp 28-Nov 9.10 35,875 20 13.32 1.06 9.01 0.09 1.0% -0.70 -7.1%

CRSB Cornerstone Community Bancorp 30-Nov 18.30 24,271 28 13.17 1.18 18.90 -0.60 -3.2% 0.60 3.4%

FHLB Friendly Hills Bank 30-Nov 8.79 20,914 17 25.85 1.11 8.65 0.14 1.6% -1.06 -10.8%

GSBX Golden State Bancorp 7-Nov 17.85 227 25 9.70 1.38 17.10 0.75 4.4% 4.80 36.8%

GVYB Golden Valley Bank 19-Nov 16.35 200 34 15.46 1.47 17.00 -0.65 -3.8% 2.61 19.0%

NCNB Northern California National Bank 30-Nov 21.00 1,614 29 14.65 1.43 21.00 0.00 0.0% 4.70 28.8%

PBKX Partners Bank of California 27-Nov 9.20 14,690 36 22.60 1.32 9.15 0.05 0.5% 0.70 8.2%

NRLB Northern California Bancorp, Inc. 25-Oct 2.00 0 7 NM NM 2.00 0.00 0.0% 0.62 44.9%

Average 16.67 1.35

TOTAL MARKET CAPITALIZATION: $256 MILLION Median 15.46 1.38

High 25.85 1.80

Low 9.70 1.06

Monthly ChangeLast Trade YTD Change

11/30/2018

Source: SNL Financial 7

MONTHLY STOCK PERFORMANCE REPORT CALIFORNIA BANKS AND THRIFTS WITH TOTAL ASSETS BETWEEN $250 MILLION AND $500 MILLION

Symbol Name Monthly Mkt Cap LTM Price/

Date Price ($) Volume ($MM) P/E T. Book ($) (%) ($) (%)

ABNK AltaPacific Bancorp 30-Nov 13.82 41,267 79 19.32 1.73 -1.08 -7.2% 1.73 14.3%

BSCA Bank of Santa Clarita 29-Nov 19.75 1,600 47 16.66 1.44 -0.35 -1.7% 1.25 6.8%

BYFC Broadway Financial Corporation 30-Nov 1.32 704,058 35 NM 0.75 -0.82 -38.3% -1.04 -44.1%

CBYA.A Community Bank of the Bay 28-Nov 7.40 356,402 49 23.87 1.38 0.40 5.7% 1.15 18.4%

CFNB California First National Bancorp 14-Nov 16.20 2,383 167 15.28 0.83 0.40 2.5% 1.12 7.4%

CFST Communities First Financial Corporation 30-Nov 23.80 39,230 68 12.59 1.76 1.30 5.8% 4.25 21.7%

CYSM Community Bancorp of Santa Maria 30-Nov 12.27 126,508 30 10.85 NM -2.18 -15.1% -2.43 -16.5%

LGHT Lighthouse Bank 30-Nov 23.75 31,340 61 15.83 1.64 -0.61 -2.5% -0.50 -2.1%

MVLY Mission Valley Bancorp 30-Nov 15.60 167,088 50 19.75 NM -0.40 -2.5% 1.00 6.8%

PBNK Pinnacle Bank 30-Nov 13.02 102,396 59 13.67 NM -0.11 -0.8% 1.66 14.6%

PFBN Pacific Alliance Bank 30-Nov 11.05 1,000 35 12.42 0.97 0.00 0.0% 0.85 8.3%

PVBK Pacific Valley Bank 28-Nov 10.40 19,224 37 18.74 1.27 -0.77 -6.9% 2.49 31.5%

RVCB River Valley Community Bancorp 30-Nov 22.25 1,903 53 16.24 1.81 4.50 25.4% 2.36 11.9%

RWCB Redwood Capital Bancorp 26-Nov 17.80 5,040 35 10.06 1.31 -0.60 -3.3% -0.08 -0.4%

UIFC Uniti Financial Corporation 27-Nov 3.74 135,959 58 15.42 1.26 0.04 1.1% 0.29 8.4%

USMT US Metro Bank 30-Nov 3.80 88,110 62 18.10 NM -0.21 -5.2% -0.60 -13.6%

MNBO MNB Holdings Corporation 20-Nov 55.60 1,400 25 13.76 0.99 7.10 14.6% 6.60 13.5%

LIBC Liberty Bancorp 4-May 20.00 0 18 38.46 0.91 0.00 0.0% 0.45 2.3%

SMAL Summit Bancshares, Inc. 30-Nov 54.00 33,669 64 29.35 2.17 21.00 63.6% 24.00 80.0%

Average 17.80 1.35

TOTAL MARKET CAPITALIZATION: $1031 MILLION Median 16.04 1.31

High 38.46 2.17

Low 10.06 0.75

Last Trade Monthly Change YTD Change

11/30/2018

Source: SNL Financial 8

MONTHLY STOCK PERFORMANCE REPORT CALIFORNIA BANKS AND THRIFTS WITH TOTAL ASSETS BETWEEN $500 MILLION AND $1 BILLION

Symbol Name Monthly Mkt Cap LTM Price/

Date Price ($) Volume ($MM) P/E T. Book ($) (%) ($) (%)

AMRB American River Bankshares 30-Nov 14.82 87,774 143 25.55 1.57 -0.37 -2.4% -0.42 -2.8%

ARBV American Riviera Bank 30-Nov 18.80 38,111 84 18.80 1.59 -0.35 -1.8% -0.95 -4.8%

AVBH Avidbank Holdings, Inc. 30-Nov 24.00 162,877 143 16.33 1.48 -0.05 -0.2% 0.05 0.2%

BCAL Bank of Southern California, National Association28-Nov 14.15 15,124 119 19.65 1.49 -0.50 -3.4% -0.60 -4.1%

CALB California BanCorp 30-Nov 20.99 103,189 168 22.33 NM -0.26 -1.2% -0.76 -3.5%

CWBC Community West Bancshares 30-Nov 10.70 156,918 89 14.46 1.17 -0.34 -3.1% 0.05 0.5%

CWBK CommerceWest Bank 30-Nov 23.25 31,038 88 17.75 NM -0.75 -3.1% 0.25 1.1%

FCBP First Choice Bancorp 30-Nov 22.39 325,670 263 18.97 NM -0.11 -0.5% -2.11 -8.6%

FISB 1st Capital Bank 30-Nov 16.90 30,213 86 18.64 NM 0.54 3.3% 2.52 17.5%

MSBC Mission Bancorp 30-Nov 81.75 3,253 146 14.74 2.46 1.25 1.6% 24.61 43.1%

OPBK OP Bancorp 30-Nov 9.70 466,569 153 12.13 1.22 -0.68 -6.6% -0.10 -1.0%

PBAM Private Bancorp of America, Inc. 30-Nov 24.50 20,077 124 42.24 1.63 -1.00 -3.9% -0.95 -3.7%

PDOB Presidio Bank 30-Nov 26.00 61,031 162 18.57 1.91 0.00 0.0% 1.75 7.2%

PEBN Pacific Enterprise Bancorp 29-Nov 20.50 10,500 63 NM 1.35 -0.90 -4.2% -1.50 -6.8%

PLBC Plumas Bancorp 30-Nov 23.25 113,218 119 10.47 NM -2.57 -10.0% 0.25 1.1%

SBKK Suncrest Bank 30-Nov 12.75 50,939 158 19.03 1.86 -0.25 -1.9% 1.68 15.2%

SCBH Seacoast Commerce Banc Holdings 28-Nov 21.90 25,036 205 26.71 2.56 -0.25 -1.1% 1.55 7.6%

SCZC Santa Cruz County Bank 30-Nov 54.00 14,320 132 14.52 2.01 0.50 0.9% 5.05 10.3%

SSBI Summit State Bank 30-Nov 11.83 106,909 72 13.92 NM -2.00 -14.4% -0.82 -6.5%

UBFO United Security Bancshares 30-Nov 10.08 216,462 170 14.40 1.66 -0.64 -6.0% -0.92 -8.4%

VLLX Valley Republic Bancorp 30-Nov 32.00 52,068 127 16.67 1.98 0.00 0.0% -4.00 -11.1%

Average 18.79 1.73

TOTAL MARKET CAPITALIZATION: $3.2 BILLION Median 18.16 1.63

High 42.24 2.56

Low 10.47 1.17

Monthly ChangeLast Trade YTD Change

11/30/2018

Source: SNL Financial 9

MONTHLY STOCK PERFORMANCE REPORT CALIFORNIA BANKS AND THRIFTS WITH TOTAL ASSETS BETWEEN $1 BILLION AND $5 BILLION

Symbol Name Monthly Mkt Cap LTM Price/ Prev Month

Date Price ($) Volume ($MM) P/E T. Book Close ($) ($) (%) ($) (%)

AMBZ American Business Bank 30-Nov 37.25 80,726 287 37.87 1.85 38.50 -1.25 -3.2% -2.15 -5.5%

BCML BayCom Corp 30-Nov 23.11 618,950 246 19.58 1.37 24.19 -1.08 -4.5% 3.66 18.8%

BMRC Bank of Marin Bancorp 30-Nov 42.69 591,307 595 24.89 2.19 42.50 0.20 0.5% 8.69 25.6%

BOCH Bank of Commerce Holdings 30-Nov 12.10 671,586 197 18.06 1.51 11.94 0.16 1.3% 0.60 5.2%

BSRR Sierra Bancorp 30-Nov 28.40 900,434 434 16.90 1.89 27.23 1.17 4.3% 1.84 6.9%

CBBI CBB Bancorp, Inc. 30-Nov 13.95 174,063 141 10.35 1.14 13.90 0.05 0.4% -3.32 -19.2%

CVCY Central Valley Community Bancorp 30-Nov 20.35 453,071 281 17.25 1.79 20.24 0.11 0.5% 0.17 0.8%

EXSR Exchange Bank 30-Nov 157.00 10,179 269 9.21 1.22 175.00 -18.00 -10.3% 5.00 3.3%

FFWM First Foundation Inc. 30-Nov 16.01 3,147,825 712 21.64 1.65 16.21 -0.20 -1.2% -2.53 -13.6%

FMCB Farmers & Merchants Bancorp 30-Nov 712.00 350 558 15.86 1.86 700.00 12.00 1.7% 36.00 5.3%

HTBK Heritage Commerce Corp 30-Nov 14.29 2,634,693 618 25.52 2.40 14.51 -0.22 -1.5% -1.03 -6.7%

MLGF Malaga Financial Corporation 30-Nov 29.50 34,013 193 12.39 1.48 28.50 1.00 3.5% -0.26 -0.9%

OVLY Oak Valley Bancorp 30-Nov 18.73 152,914 153 14.87 1.67 18.15 0.58 3.2% -0.81 -4.1%

PFBC Preferred Bank 30-Nov 51.22 914,030 785 12.97 1.97 51.41 -0.19 -0.4% -7.56 -12.9%

PCB Pacific City Financial Corporation 30-Nov 16.10 0 257 11.34 1.27 16.37 -0.27 -1.6% 0.60 3.9%

PMBC Pacific Mercantile Bancorp 30-Nov 8.00 942,411 175 7.41 1.37 8.27 -0.27 -3.3% -0.75 -8.6%

PROV Provident Financial Holdings, Inc. 30-Nov 17.55 149,257 132 31.91 1.08 17.30 0.25 1.4% -0.85 -4.6%

RBB RBB Bancorp 30-Nov 21.73 491,824 410 11.87 1.38 21.58 0.15 0.7% -5.64 -20.6%

RCBC River City Bank 30-Nov 205.00 1,144 299 16.02 1.46 214.00 -9.00 -4.2% 18.00 9.6%

TCBK TriCo Bancshares 30-Nov 38.45 1,318,206 1,170 20.13 2.12 36.02 2.43 6.7% 0.59 1.6%

WFCL 1867 Western Financial Corporation 14-Nov 8,500.00 116 761 14.05 1.65 9,200.00 -700.00 -7.6% 2300.00 37.1%

Average 17.62 1.64

TOTAL MARKET CAPITALIZATION: $6 BILLION Median 16.02 1.65

High 37.87 2.40

Low 7.41 1.08

11/30/2018Monthly ChangeLast Trade YTD Change

Source: SNL Financial 10

MONTHLY STOCK PERFORMANCE REPORT CALIFORNIA BANKS AND THRIFTS WITH TOTAL ASSETS BETWEEN $5 BILLION AND $10 BILLION

CALIFORNIA BANKS AND THRIFTS WITH TOTAL ASSETS OVER $10 BILLION

Symbol Name Monthly Mkt Cap LTM Price/

Date Price ($) Volume ($MM) P/E T. Book ($) (%) ($) (%)

AX Axos Financial, Inc. 30-Nov 31.20 7,760,519 1,960 12.73 2.11 0.84 2.8% 1.30 4.3%

CVBF CVB Financial Corp. 30-Nov 23.24 10,656,618 3,261 21.13 2.97 1.39 6.4% -0.32 -1.4%

FMBL Farmers & Merchants Bank of Long Beach 30-Nov 8,376.00 249 1,097 14.63 1.08 176.00 2.1% 516.00 6.6%

HAFC Hanmi Financial Corporation 30-Nov 22.44 4,821,828 720 12.47 1.30 1.46 7.0% -7.91 -26.1%

MCHB Mechanics Bank 12-Nov 31,500 21 868 20.39 1.92 -1600.00 -4.8% 1350.00 4.5%

OPB Opus Bank 30-Nov 22 4,390,366 779 21.18 1.23 2.61 13.7% -5.70 -20.9%

PPBI Pacific Premier Bancorp, Inc. 30-Nov 31 5,954,605 1,929 15.44 1.92 1.64 5.6% -9.13 -22.8%

WABC Westamerica Bancorporation 30-Nov 63 1,805,428 1,689 29.81 3.61 4.99 8.6% 3.65 6.1%

Average 18.47 2.02

TOTAL MARKET CAPITALIZATION: $8 BILLION Median 17.91 1.92

High 29.81 3.61

Low 12.47 1.08

Last Trade Monthly Change YTD Change

11/30/2018

Symbol Name Monthly Mkt Cap LTM Price/

Date Price ($) Volume ($MM) P/E T. Book ($) (%) ($) (%)

BANC Banc of California, Inc. 30-Nov 17.20 7,755,026 871 40.00 1.30 1.25 7.8% -3.45 -16.7%

CATY Cathay General Bancorp 30-Nov 39.57 8,121,004 3,208 13.88 1.85 1.90 5.0% -2.60 -6.2%

EWBC East West Bancorp, Inc. 30-Nov 53.69 16,471,982 7,783 12.75 2.07 1.25 2.4% -7.14 -11.7%

FRC First Republic Bank 30-Nov 99.15 23,074,482 16,338 21.46 2.25 8.16 9.0% 12.51 14.4%

HOPE Hope Bancorp, Inc. 30-Nov 15.20 15,838,775 1,957 12.36 1.39 0.72 5.0% -3.05 -16.7%

PACW PacWest Bancorp 30-Nov 40.24 23,059,913 4,900 11.66 2.33 -0.38 -0.9% -10.16 -20.2%

SIVB SVB Financial Group 30-Nov 254.81 13,685,911 13,569 16.61 2.76 17.58 7.4% 21.04 9.0%

TOTAL MARKET CAPITALIZATION: $30.2 BILLION Average 18.39 1.99

Median 13.88 2.07

High 40.00 2.76

Low 11.66 1.30

Last Trade Monthly Change YTD Change

11/30/2018