Form 8-K

8-K — John Marshall Bancorp, Inc.

Accession: 0001104659-26-087344

Filed: 2026-07-28

Period: 2026-07-28

CIK: 0001710482

SIC: 6022 (STATE COMMERCIAL BANKS)

Item: Regulation FD Disclosure

Item: Financial Statements and Exhibits

Documents

8-K — jmsb-20260728x8k.htm (Primary)

EX-99.1 (jmsb-20260728xex99d1.htm)

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8-K

8-K (Primary)

Filename: jmsb-20260728x8k.htm · Sequence: 1

John Marshall Bancorp, Inc._July 28, 2026

0001710482false00017104822026-07-282026-07-28

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 28, 2026

John Marshall Bancorp, Inc.

(Exact name of registrant as specified in its charter)

Virginia

001-41315

81-5424879

(State or other jurisdiction

of incorporation)

(Commission

File Number)

(IRS Employer

Identification No.)

1943 Isaac Newton Square, Suite 100

Reston, Virginia 20190

(Address, including zip code, of principal executive offices)

Registrant’s telephone number, including area code: (703) 584-0840

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):

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class registered

Trading symbol(s)

Name of each exchange on which registered

Common Stock, par value $0.01 per share

JMSB

The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

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. ☒

Item 7.01 Regulation FD Disclosure.

The management of John Marshall Bancorp, Inc. (the “Company”) will participate in the Keefe, Bruyette & Woods 2026 Summer Bank Conference in New York, NY on July 28, 2026. A copy of the presentation will be made available on the Investor Relations section of the Company’s website (http://www.johnmarshallbank.com) and is furnished as Exhibit 99.1 to this report.

Item 9.01 Financial Statements and Exhibits.

Exhibits.

Exhibit No.

Description

99.1

Presentation for the 2026 Keefe, Bruyette & Woods Summer Bank Conference

104

Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

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.

JOHN MARSHALL BANCORP, INC.

Date: July 28, 2026

By:

/s/ Kent D. Carstater

Kent D. Carstater

Senior Executive Vice President, Chief Financial Officer

EX-99.1

Filename: jmsb-20260728xex99d1.htm · Sequence: 2

Exhibit 99.1

Forward Looking Statements

In addition to historical information, this presentation contains forward-looking statements within the meaning of the Private Securities Litigation

Reform Act of 1995 that are based on certain assumptions and describe future plans, strategies and expectations of the Company. These forward-looking statements are generally identified by use of the words “believe,” “expect,” “intend,” “anticipate,” “estimate,” “project,” “will,” “should,” “may,”

“view,” “opportunity,” “potential,” or similar expressions or expressions of confidence. Our ability to predict results or the actual effect of future plans

or strategies is inherently uncertain. Factors which could have a material adverse effect on the operations of the Company and the Bank include,

but are not limited to, the following: the concentration of our business in the Washington, D.C. metropolitan area and the effect of changes in the

economic, political and environmental conditions on this market, including shutdowns and potential reductions in spending by the U.S.

Government, and related reductions in the federal workforce; adequacy of our allowance for loan credit losses, allowance for unfunded

commitments credit losses, and allowance for credit losses associated with our held-to-maturity and available-for-sale securities portfolios;

deterioration of our asset quality; future performance of our loan portfolio with respect to recently originated loans; the level of prepayments on

loans and mortgage-backed securities; liquidity, interest rate and operational risks associated with our business; changes in our financial

condition or results of operations that reduce capital; our ability to maintain existing deposit relationships or attract new deposit relationships;

changes in consumer spending, borrowing and savings habits; inflation and changes in interest rates that may reduce our margins or reduce the

fair value of financial instruments; changes in the monetary and fiscal policies of the U.S. Government, including policies of the U.S. Treasury and

the Board of Governors of the Federal Reserve System; additional risks related to new lines of business, products, product enhancements or

services; increased competition with other financial institutions and fintech companies; adverse changes in the securities markets; changes in the

financial condition or future prospects of issuers of securities that we own; our ability to maintain an effective risk management framework;

changes in laws or government regulations or policies affecting financial institutions, including changes in regulatory structure and in regulatory

fees and capital requirements; compliance with legislative or regulatory requirements; results of examination of us by our regulators, including the

possibility that our regulators may require us to increase our allowance for credit losses or to write-down assets or take similar actions; potential

claims, damages, and fines related to litigation or government actions; the effectiveness of our internal controls over financial reporting and our

ability to remediate any future material weakness in our internal controls over financial reporting; geopolitical conditions, including trade

restrictions and tariffs, and acts or threats of terrorism and/or military conflicts, or actions taken by the U.S. or other governments in response to

trade restrictions and tariffs, and acts or threats of terrorism and/or military conflicts, negatively impacting business and economic conditions in

the U.S. and abroad; the effects of weather-related or natural disasters, which may negatively affect our operations and/or our loan portfolio and

increase our cost of conducting business; public health events (such as the COVID-19 pandemic) and governmental and societal responses

thereto; technological risks and developments, and cyber threats, attacks, or events; changes in accounting policies and practices; our ability to

successfully capitalize on growth opportunities; our ability to retain key employees; deteriorating economic conditions, either nationally or in our

market area, including higher unemployment and lower real estate values; implications of our status as a smaller reporting company and as an

emerging growth company; and other factors discussed in the Company’s reports (such as our Annual Report on Form 10-K, Quarterly Reports on

Form 10-Q and Current Reports on Form 8-K) filed with the Securities and Exchange Commission. These risks and uncertainties should be

considered in evaluating forward-looking statements and undue reliance should not be placed on such statements. The Company does not

undertake, and specifically disclaims any obligation, to publicly release the result of any revisions which may be made to any forward-looking

statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated

events. Annualized, pro forma, projected and estimated numbers are used for illustrative purposes only, are not forecasts and may not reflect

actual results.

Company Overview

 John Marshall Bank is a growth-oriented commercial bank

 Celebrated the 20th anniversary in April 2026.

 Highlights as of June 30, 2026:

 Assets - $2.4 billion

 Loans - $2.0 billion

 Deposits - $2.0 billion

 Seasoned executive team with decades of in-market banking experience

 Strategy emphasizes local market growth in loans, core funding, and profitability

while maintaining strong asset quality and delivering tailored banking services – Hire experienced commercial banking and business development officers – Enhance customer experience by leveraging digital platform

– Commercially-oriented bank with focus on deposit-rich industry segments – Diversify loan portfolio and improve funding mix – Grow non-interest income

– Continue to focus on strong operating leverage and uphold rigorous expense control,

while driving profitability – Maintain financial and credit quality discipline

Franchise Overview

Main Office/Reston:

1943 Isaac Newton

Reston, VA

District of Columbia:

1625 K Street, NW Tysons Corner:

8229 Boone Blvd.

Tysons Corner, VA

Prince William County:

12701 Marblestone Dr.

Woodbridge, VA

Montgomery County:

11 N. Washington St.

Rockville, MD

City of Alexandria:

640 Franklin St.

Alexandria, VA

Arlington County:

2300 Wilson Blvd.

Arlington, VA

Loudoun County:

540 Fort Evans Road

Leesburg, VA

Eight full-service, regional banking centers serve as business development hubs.

John Marshall Financial Highlights

 Bank

commenced

operations in

April 2006

 Chris Bergstrom

named

President and

CEO April 30,

2018

 Commercially-oriented bank

 140 FTE

employees as

of June 30,

2026

Financial Highlights

YTD 2026 profitability ratios are for the six months ended 6/30/2026, annualized.

1 - Non-accruing assets include nonaccrual loans and leases, and foreclosed or repossessed assets.

(1)

($ in millions, unless otherwise noted) Year Ended December 31, YTD

2017 2018 2019 2020 2021 2022 2023 2024 2025 June 30

2026

Balance Sheet

Total Assets $1,175 $1,395 $1,582 $1,885 $2,149 $2,348 $2,243 $2,235 $2,333 $2,402

Loans, net of unearned income 1,007 1,161 1,326 1,563 1,666 1,790 1,860 1,872 1,975 2,015

Total Deposits 897 1,138 1,309 1,640 1,882 2,068 1,907 1,892 1,972 1,993

Capital (Bank level)

Common Equity / Assets 11.0% 10.2% 10.2% 9.9% 10.8% 10.0% 11.1% 11.9% 12.2% 12.3%

Tier 1 Leverage Ratio 11.5% 11.2% 11.9% 11.0% 11.0% 11.3% 11.6% 12.4% 12.5% 12.9%

Total Risk-Based Capital Ratio 14.5% 13.9% 13.5% 14.6% 15.3% 15.6% 15.7% 16.2% 16.3% 16.7%

Profitability

Net Income (in thousands) $8,984 $12,174 $15,921 $18,526 $25,461 $31,803 $5,158 $17,121 $21,233 $13,121

ROAA 0.80% 0.95% 1.08% 1.06% 1.25% 1.40% 0.22% 0.76% 0.93% 1.13%

ROAE 7.14% 8.98% 10.41% 10.49% 12.90% 15.18% 2.32% 7.16% 8.26% 9.77%

Net Interest Margin 3.72% 3.51% 3.40% 3.32% 3.29% 3.16% 2.22% 2.28% 2.68% 2.93%

Non-interest Expense / Average Assets 2.15% 2.23% 1.95% 1.67% 1.58% 1.40% 1.33% 1.41% 1.48% 1.59%

Efficiency Ratio 57.8% 63.5% 57.4% 49.9% 47.7% 44.2% 86.7% 59.7% 53.6% 51.8%

Asset Quality

Non-Accruing Assets / Assets 0.09% 0.03% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

0.89% 0.84% 0.81% 1.09% 1.20% 1.13% 1.05% 1.00% 1.00% 1.00%

Allowance for Credit Losses / Total

Loans

NCOs / Average Loans (annualized) 0.07% 0.03% 0.01% 0.00% 0.00% 0.00% 0.00% 0.00% 0.02% 0.01%

Investment Attributes

Rewarding Our

Shareholders

Attractive

Market

Credit

Discipline

Prime for

Future

Growth

Experienced

Management

Leveraging Technology

Selective FinTech partnerships provide

operating leverage and fuel additional growth

Customer

Experience

Operating

Efficiencies

Risk

Mitigation

FinTech Partnership Benefits

Various FinTech Partnerships

Executive Leadership

Chris Bergstrom

President & CEO

Chris Bergstrom has over 44 years of experience in the banking industry. Before joining John Marshall

Bank, Mr. Bergstrom served in a variety of executive positions during 19 years with Cardinal Financial

Corporation and Cardinal Bank, most recently serving as President and Chief Executive Officer from

October 2015 until United Bankshares, Inc.’s acquisition of Cardinal in April 2017. He was also President

of United Bank from April 2017 to April 2018. Mr. Bergstrom recently served as the Chairman of the

Board of the Virginia Bankers Association. Mr. Bergstrom received his Master of Science in Finance

from Virginia Commonwealth University and a Bachelors of Business Administration degree from

James Madison University.

Kent Carstater

SEVP, Chief Financial

Officer

Andy Peden

SEVP, Chief Banking

Officer

Andrew Peden is the Chief Banking Officer at John Marshall Bank, and was the Chief Lending Officer

for four years before being promoted to his current position. Prior to joining John Marshall Bank, he

had over 18 years of banking experience, all but one year with Cardinal Bank. Mr. Peden received a

Bachelor of Science degree in business from the University of Richmond – Robins School of Business.

He is involved in both the business and local community, by serving on the Board of the VBA

Management Services, Inc., a subsidiary of the VBA, and as a volunteer youth sports coach in

Arlington, VA.

Kent Carstater has over 28 years of financial services experience. He has responsibility for accounting,

financial, human resources, information technology, investor relations and risk management

operations. Mr. Carstater also chairs the Company’s Asset/Liability management committee. He

joined John Marshall Bank in July 2016 as Senior Vice President of Market Risk Management,

overseeing the Bank’s liquidity, asset/liability, investment, capital planning and strategic planning

functions. From 2012 to 2016, Mr. Carstater served as a Senior Vice President and Treasurer at the Bank

of Georgetown. In that role, he was responsible for financial and risk management, investor relations,

capital markets activities and strategic planning. Prior to becoming a commercial banker in 2012, he

advised community bank executives on strategic matters as an investment banker and founded a

private equity firm focused on investing in financial institutions. Mr. Carstater earned his Bachelors of

Science from Virginia Tech in Finance and Masters of Business Administration from the Darden School

of Business at the University of Virginia.

3.8 3.9 3.9

4.2

4.8 4.9

Attractive Metro Markets

Educational Attainment % (>=Bachelors Degree) Unemployment Rate % (April 2026, NSA)

Median Household Income $ (2026) Projected Population Growth % (2026-2031)

Sources: S&P Global Market Intelligence, Bureau of Economic Analysis and data.census.gov. Blue line represents the average of the six metro markets shown

7.28

2.80

1.21

0.51

(0.67) (0.93)

141,259

131,627

105,148 102,146

97,107 96,369

54.5 53.6

43.9

41.1 39.4 37.6

Market Growth + Consolidation = Unique Opportunity

Data as of: 6/30/2013 Data as of: 6/30/2025

Figures represent market deposits within the Washington, D.C. MSA

Market Deposit

Deposits Market

Company ($000) Share (%)

1 Wells Fargo & Co. (CA) 23,769,182 15.3%

2 Capital One Financial Corp. (VA) 22,128,708 14.2%

3 Bank of America Corporation (NC) 21,404,120 13.8%

4 SunTrust Banks Inc. (GA) 16,657,678 10.7%

5 BB&T Corp. (NC) 13,255,025 8.5%

6 PNC Financial Services Group (PA) 10,708,198 6.9%

7 Citigroup Inc. (NY) 6,617,764 4.3%

8 M&T Bank Corp. (NY) 4,062,737 2.6%

9 HSBC Holdings 3,270,777 2.1%

10 Toronto-Dominion Bank 3,025,720 1.9%

11 Eagle Bancorp Inc (MD) 2,904,390 1.9%

12 Sandy Spring Bancorp Inc. (MD) 2,277,639 1.5%

13 Burke & Herbert Bank & Trust (VA) 2,204,402 1.4%

14 Virginia Commerce Bank 2,192,719 1.4%

15 Cardinal Financial Corporation (VA) 2,130,662 1.4%

16 United Bankshares Inc. (WV) 2,037,632 1.3%

17 WashingtonFirst Bankshares, Inc. (VA) 970,001 0.6%

18 Middleburg Financial Corporation (VA) 922,039 0.6%

19 Old Line Bancshares, Inc. (MD) 794,410 0.5%

20 Bank of Georgetown (DC) 772,085 0.5%

21 Virginia Heritage Bank (VA) 729,530 0.5%

22 Access National Corporation (VA) 669,547 0.4%

23 Fauquier Bankshares Inc. (VA) 519,869 0.3%

24 Community Finl Corp. (MD) 519,106 0.3%

25 Acacia Federal Savings Bank (VA) 496,612 0.3%

26 Presidential Bank, FSB (MD) 491,880 0.3%

27 John Marshall Bancorp Inc. (VA) 430,564 0.3%

28 Southern National Bncp of VA (VA) 407,428 0.3%

29 FVCBankcorp Inc. (VA) 392,992 0.3%

Other 8,703,727 5.6%

Shading indicates community banks headquartered in Washington D.C. MSA

Market Deposit

Deposits Market

Company ($000) Share (%)

1 Capital One Financial Corp. (VA) 73,187,547 23.3%

2 Bank of America Corporation (NC) 50,352,196 16.0%

3 Truist Financial Corp. (NC) 39,680,735 12.6%

4 Wells Fargo & Co. (CA) 34,250,728 10.9%

5 The PNC Finl Svcs Grp (PA) 16,438,136 5.2%

6 Atlantic Union Bkshs Corp. (VA) 13,103,283 4.2%

7 United Bankshares Inc. (WV) 10,482,772 3.3%

8 Citigroup Inc. (NY) 10,425,000 3.3%

9 Eagle Bancorp Inc (MD) 9,133,475 2.9%

10 Forbright Inc. (MD) 6,012,464 1.9%

11 The Toronto-Dominion Bank 5,995,501 1.9%

12 M&T Bank Corp. (NY) 5,751,392 1.8%

13 JPMorgan Chase & Co. (NY) 4,449,940 1.4%

14 Burke & Herbert Finl Svcs Corp (VA) 3,577,108 1.1%

15 Capital Bancorp Inc. (MD) 2,276,757 0.7%

16 Pinnacle Financial Partners (GA) 2,191,341 0.7%

17 John Marshall Bancorp Inc. (VA) 1,902,834 0.6%

18 FVCBankcorp Inc. (VA) 1,871,647 0.6%

19 MainStreet Bcshs (VA) 1,803,702 0.6%

20 HSBC Holdings plc 1,799,380 0.6%

21 National Capital Bancorp (DC) 1,520,389 0.5%

22 WesBanco Inc. (WV) 1,436,267 0.5%

23 Workers United (PA) 1,319,676 0.4%

24 Chain Bridge Bancorp Inc. (VA) 1,294,664 0.4%

25 Primis Financial Corp. (VA) 1,148,934 0.4%

26 Eagle Financial Services Inc. (VA) 974,189 0.3%

27 Freedom Finl Holdings Inc. (VA) 919,211 0.3%

28 Presidential Holdings Inc. (VA) 902,168 0.3%

29 Trustar Bankshares (VA) 858,532 0.3%

Other 9,659,317 3.1%

Second Quarter 2026 Highlights

★ Earnings Growth Momentum

o Net income of $7.0 million for the quarter ended June 30, 2026 represented a 15.0% increase over the $6.1 million net income reported

for the quarter ended March 31, 2026 or an annualized quarter-over-quarter increase of 60.4%.

o The quarter ended June 30, 2026 represented the eighth consecutive quarter of net income growth and marked the highest level of

net income since the fourth quarter of 2022.

★ Sustained Net Interest Margin Expansion

o Net interest margin grew by 12 basis points during the most recent quarter to 2.99% compared to 2.87% for the first quarter of 2026 and

2.69% for the second quarter of 2025.

o This represents the ninth consecutive quarterly net interest margin expansion.

★ Strong Loan Growth

o The Company’s loan portfolio, net of unearned income, grew $41.2 million or 8.4% annualized during the second quarter of 2026.

o Loans, net of unearned income, increased $98.0 million or 5.1% from June 30, 2025 to June 30, 2026.

o Total loans exceeded $2.0 billion for the first time in the Company’s history.

★ Focus on Core Deposit Growth

o The Company remains focused on driving value through core deposit growth.

o For the twelve months ended June 30, 2026, total deposits increased $96.1 million or 5.1%.

★ Positive Operating Leverage

o Total revenue (net interest income plus non-interest income) grew 21.7% for the quarter ended June 30, 2026 relative to the quarter

ended June 30, 2025, while non-interest expense increased 14.2% over the same period.

o This positive trend in operating leverage improved the efficiency ratio from 53.9% to 50.5% over the same period.

★ Strong Asset Quality

o Overall credit quality of the loan portfolio remains exceptional.

o As of June 30, 2026, the Company did not have any non-accrual loans and had no other real estate owned assets.

★ Growing Book Value per Share and Higher Dividends

o Book value per share increased from $17.83 as of June 30, 2025 to $19.40 as of June 30, 2026, an 8.8% increase.

o On July 21, 2026, the Company’s Board of Directors declared a quarterly cash dividend of $0.10 per share on the Company’s common

stock. The dividend is payable on August 26, 2026 to shareholders of record at the close of business on August 5, 2026.

o The quarterly cash dividend represents an 11.1% increase over the quarterly cash dividend of $0.09 declared on April 28, 2026.

★ Robust Capitalization

o Each of the Bank’s regulatory capital ratios remained well in excess of the regulatory well-capitalized thresholds as of June 30, 2026.

Balance Sheet Growth

2017-2025 Compound Annual Growth Rates (CAGR)

9.0% 8.8%

10.3%

12.0%

Assets Loans, net of

unearned income

Deposits Non-Interest

Bearing Deposits

Loan Portfolio Composition

• The Company’s loan pipeline remained strong with

$113.9 million in new commitments recorded

during the quarter ended June 30, 2026. • 96.7% improvement over the $57.9 million in new

commitments recorded in the quarter ended

March 31, 2026. • The Company’s loan pipeline at 6/30/2026 was

robust and gaining momentum. We saw increased

lending opportunities that meet our underwriting

standards. • The Company remains steadfast in adhering to our

strict underwriting standards and the diligent

management of the portfolio. • Tax-equivalent yield on total loans of 5.53% for the

three months ended June 30, 2026.

CRE - Owner Occupied

16.5%

CRE - Non-owner

Occupied

38.1%

Multifamily

4.8%

Commercial

2.5%

Residential Real Estate

25.3%

Consumer

1.4%

CRE & Land

Development

Construction

5.3%

Residential Construction

6.0%

Data as of June 30, 2026.

Bond Portfolio

★As of June 30, 2026, 95% of our bond

portfolio carried the implied guarantee of

the United States government or one of its

agencies.

★Cash flows from the investment portfolio

are projected to average $2.9 million per

month through the rest of 2026.

1.99% 2.01% 2.04% 2.11% 2.10% 2.13%

2.32%

2.46%

3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26

Bond Portfolio Yield

★As of June 30, 2026, the available-for-sale portfolio had a

weighted average life of 3.5 years and the held-to-maturity

portfolio had a weighted average life of 4.9 years.

Debt Securities Portfolio as of June 30, 2026

Estimated

Fair Value

Percentage

of total

Amortized

(Dollars in thousands) Cost

Available-for-sale

U.S. Treasuries $ - - $ - U.S. government and federal agencies 4,991 2.2% 4,800

Corporate bonds 3,000 1.3% 2,881

Collateralized mortgage obligations 28,440 12.7% 22,966

Municipal 1,378 0.6% 1,228

Mortgage-backed 98,932 44.3% 94,998

Total Available-for-sale Securities $ 136,741 61.2% 126,873

Held-to-maturity

U.S. Treasuries $ 6,003 2.7% $ 5,704

U.S. government and federal agencies 35,297 15.8% 32,236

Collateralized mortgage obligations 15,453 6.9% 12,332

Municipal 6,016 2.7% 5,280

Mortgage-backed 24,023 10.7% 20,182

Total Held-to-maturity Securities $ 86,792 38.8% $ 75,734

Total Debt Securities $ 223,533 100.0% $ 202,607

Increasing Financial Returns

Return on Average Assets Return on Average Equity

(1) Annualized, data as of June 30, 2025.

(2) Annualized, data as of June 30, 2026.

(1) (2) (2)

7.16%

8.26% 7.91%

9.77%

2024 2025 1H25 1H26

0.76%

0.93% 0.89%

1.13%

2024 2025 1H25 1H26

(1)

$1.20

$1.50

$0.69

$0.93

2024 2025 1H25 1H26

Diluted Earnings Per Share

$10.05

$11.01

$12.34

$13.68

$15.17 $15.09

$16.25

$17.28

$18.69

$17.83

$19.40

2017 2018 2019 2020 2021 2022 2023 2024 2025 6/30/25 6/30/26

Per Share Performance

Book Value Per Share

Net Interest Margin Expansion

Net Interest Margin/ Net Interest Income Growth

 Net interest margin expanded during the last nine consecutive quarters and grew

88 basis points from the first quarter of 2024.

 Since the first quarter of 2024, yield on interest-earning assets increased 30 basis

points, while rate on interest-bearing liabilities decreased 68 basis points.

 Net interest income grew by $2.4 million to $17.3 million during the quarter ended

June 30, 2026, as compared $ $14.9 million in the prior year quarter.

$11,744 $12,081

$13,156

$14,066 $14,097 $14,926 $15,600 $15,940 $16,509 $17,334

2.11%

2.19%

2.30%

2.52%

2.58%

2.69% 2.72% 2.73%

2.87%

2.99%

1.80%

2.00%

2.20%

2.40%

2.60%

2.80%

3.00%

3.20%

3.40%

$2,000

$4,000

$6,000

$8,000

$10,000

$12,000

$14,000

$16,000

$18,000

$20,000

Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26

Net Interest Income and Margin Trend

Net Interest Income Net Interest Margin

4.83% 4.85% 4.97% 5.01% 4.99% 5.03% 5.06% 4.99% 5.07% 5.13%

3.81% 3.81% 3.86% 3.62% 3.48%

3.38% 3.37% 3.28% 3.15% 3.13%

Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26

Yield and Cost Trends

Total interest-earning assets Total interest-bearing liabilities

(Dollars in thousands)

Prudent Expense Management

 Stable non-interest expense over the preceding three

years as a result of management’s prudent cost control.

 As of June 30, 2026 the average bank non-interest

expense to average assets was 2.6%(1). Our non-interest

expense to average assets as of June 30, 2026 was 1.6%

or 62% of the average bank non-interest expense ratio.

 Our expense base is approximately $23 million or 38%

lower than the level implied by the FDIC average.

 Incentive compensation accruals can fluctuate

materially from quarter to quarter based on the

Company’s financial performance and other evaluation

criteria.

(1) FDIC – All banks' data is sourced from the FDIC’s Quarterly Banking Profile as of March 31, 2026.

(2) Annualized, data as of June 30, 2026.

Non-Interest Expense

($ in thousands) Year Ended December 31,

2023 2024 2025 1H 25 1H 26 % Change

Salaries and employee benefits $ 19,436 $ 19,240 $ 20,729 $ 10,277 $ 11,777 14.6%

Occupancy expense of premises 1,811 1,760 1,544 814 802 -1.5%

Furniture and equipment expenses 1,178 1,220 1,285 630 693 10.0%

Other operating expenses 8,390 9,589 10,009 4,840 5,141 6.2%

Total Non-interest Expense $ 30,815 $ 31,809 $ 33,567 $ 16,561 $ 18,413 11.2%

2.2% 2.2%

2.0%

1.7%

1.4%

1.3% 1.3%

1.4% 1.5%

1.6%

2017 2018 2019 2020 2021 2022 2023 2024 2025 2026

Non-Interest Expense to Average Assets

(2)

$0.20

$0.22

$0.25

$0.30

$0.40

$0.15

$0.20

$0.25

$0.30

$0.35

$0.40

$0.45

2022 2023 2024 2025 2026

Annualized Per Share Cash Dividends

Growing Dividends

 On January 28, 2026, the Company initiated a quarterly cash dividend.

 During the first and second quarters of 2026, the Board of Directors declared two

quarterly cash dividends of $0.09 per share. On July 21, 2026, the Company’s

Board of Directors declared an increased, quarterly cash dividend of $0.10 per

share on the Company’s common stock.

 This annualized, per share amount equates to a 33.3% increase over the 2025

annual cash dividend.

(1) Based on quarterly cash dividend declared of $0.10 per common share in July 2026.

(1)

Decreasing Concentration

• $1.1 billion in CRE loans, net of unearned fees as of 6/30/2026. • 99.8% of CRE portfolio is within the DC MSA as of 6/30/2026. • No equity capital issuance since November 2013.

Acquisition, Development & Construction Loans

as a percentage of Total Risk-Based Capital

Commercial Real Estate (Investor) Loans

as a percentage of Total Risk-Based Capital

CRE Investor Portfolio has grown 18.7% over the past 36 months; below 50% regulatory threshold.

$22.5MM of subordinated

148% debt became Bank capital

120%

126% 126%

130%

121%

111% 109%

94%

84%

73%

62% 64%

53% 55% 58%

62%

72% 70%

407%

379%

411% 413%

403%

384%

367% 365%

340%

335% 338%

319%

338%

328%

336%

342% 341% 343%

337%

Disciplined Credit Culture

Asset Quality Capital Allowance for Credit Losses

• Conservative reserve methodology

• ACL of 1.00% of loans

• “Well-Capitalized” under Basel III • Stress testing on a quarterly basis

• Holding company provides capital

alternatives

• Historically, the Bank has exhibited

excellent loan quality with low levels of

classified loans

• No non-accrual loans, OREO or

substandard loans.

Diversification Market Analysis Stress Testing

• Bank utilizes a rigorous third-party loan

review program

• Quarterly stress testing of LTV and debt

service coverage ratios

• Targeted stress testing completed over

CRE portfolio to assess changes in LTV

when stressing collateral values and DSCR

changes upon future repricing

• Bank receives market analysis, both on

a national and local basis from a

variety of sources

• CRE portfolio is diversified among retail,

multifamily, restaurants, shopping

centers, churches, warehouses and other

loan types

• ADC and CRE concentrations have been

reduced from 148% and 407%,

respectively, at 9/30/2017 (post-subordinated debt) to 70% and 337%

Credit Selection Board Oversight Leverage Technology

• Utilize bank-specific CRM application to

increase efficiency and optimize loan

process management • Utilize leading construction finance

management software

• Concentration and monitoring

information provided to the Board at

least quarterly

• RMs focus on experienced business

owners with financial capacity

• Relatively low individual officer discretionary

loan authority levels; committee approval

Unless indicated otherwise, data as of 6/30/2026.

Exceptional Asset Quality

Non-Accruing Assets¹ / Assets (%)

(1) Non-accruing assets include nonaccrual loans and leases, and foreclosed or repossessed assets.

(2) Data as of June 30, 2026.

(3) FDIC – All Banks data is sourced from the FDIC’s Quarterly Banking Profile as of March 31, 2026.

 At March 31, 2026, the FDIC peer loans and leases 30 days or more past

due or in nonaccrual status level of 1.44% would equate to approximately

$29 million of non-accruing assets.

 As of June 30, 2026, the Company had no non-accruing assets.

(2)

(3)

0.32%

0.01%0.09% 0.03% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

0.00%

0.50%

1.00%

1.50%

2.00%

2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026

Strong Capital Ratios

5.0%

6.5%

8.0%

10.0%

12.5%

15.2% 15.2%

16.3%

12.9%

15.6% 15.6%

16.7%

3.0

5.0

7.0

9.0

11.0

13.0

15.0

17.0

19.0

Leverage ratio Common equity

tier 1 ratio

Tier 1 risk-based capital Total risk-based

capital ratio Ratios (%)

Bank Regulatory Capital Ratios

Well-Capitalized Threshold December 31, 2025 June 30, 2026

Capital Management: Share Repurchases

 The Company announced an extension of the

share repurchase authorization of 700,000 shares.  The Company repurchased over 240,000 shares at a

weighted average price of $18.59.

 The Company may selectively continue

repurchasing shares subject to market conditions,

securities laws, and capital management priorities,

among other decision criteria.

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