Classified in: Business, Covid-19 virus
Subjects: EARNINGS, Conference Call, Webcast

CBB Bancorp, Inc. Reports Second Quarter 2021 Financial Results

CBB Bancorp, Inc. ("CBB" or the "Company') (OTCQX: CBBI), the holding company of Commonwealth Business Bank (the "Bank"), announced today net income for second quarter 2021 of $6.3 million, or $0.61 per diluted share, an increase of 18.2%, compared to $5.3 million, or $0.52 per diluted share, in the prior quarter and 281.5% compared to $1.7 million, or $0.16 per diluted share, in the same period last year.

Overall Results

Net income for second quarter 2021 was positively affected by improving credit quality and continued balance sheet growth. The Company's return on average assets for second quarter 2021 was 1.70% compared to 1.58% for first quarter 2021 and 0.52% for second quarter 2020. Its return on average equity for second quarter 2021 was 14.91%, compared to 13.26% for first quarter 2021 and 4.36% for second quarter 2020. The Company's net interest margin for second quarter 2021 was 3.75%, compared to 3.90% for first quarter 2021 and 3.17% for second quarter 2020. Its efficiency ratio for second quarter 2021 was 52.24%, compared to 51.78% for first quarter 2021 and 66.02% for second quarter 2020.

Joanne Kim, President and CEO, commented, "We are pleased to announce record quarterly earnings for the second consecutive quarter. With positive trends in our balance sheet growth and asset quality, we look forward to further growth in the second half of the year. We are excited about the completion of the acquisition of Ohana Pacific Bank on July 1, 2021 and the opportunities this Hawaii base of operations will provide."

Net Interest Income and Margin

Net Interest Income

Net interest income for second quarter 2021 was $13.6 million, an increase of $726 thousand, or 5.7%, from first quarter 2021, and an increase of $3.7 million, or 37.5%, from second quarter 2020. The increase in net interest income was driven by loan growth, as well as our continuing to aggressively reduce deposit rates and wholesale borrowing costs, while strategically shifting our deposit mix to lower-cost core deposits.

Net Interest Margin

Our net interest margin for second quarter 2021 was 3.75% compared to 3.90% for first quarter 2021 and 3.17% for second quarter 2020. The decrease in net interest margin compared to first quarter 2021 was due to a substantial increase in due from bank balances in the quarter, which reduced the average yield on interest earning assets. The larger than usual due from bank balances were due in part to the all-cash acquisition of Ohana Pacific Bank that was still pending as of June 30, 2021. The lower yield on earning assets was partially offset by a downward repricing of our time deposits and growth in our demand deposits. Our cost of funds for second quarter 2021 decreased to 0.42% from 0.52% for first quarter 2021 and 1.20% for second quarter 2020.

Provision for Loan Losses:

The Company made no provision for loan losses for second quarter 2021, compared to $500 thousand for first quarter 2021 and $1.6 million for second quarter 2020. No provision was required during the current quarter due to the absence of charge-offs, and continuing signs of an improving economy. See Table 10 for additional information and trends.

Noninterest Income:

Noninterest income for second quarter 2021 was $5.0 million, compared to $3.7 million for first quarter 2021 and $1.5 million for second quarter 2020. The increase in noninterest income in second quarter 2021 was primarily the result of increased gains on sales of loans. Sales of SBA loans were $42.2 million with an average premium percentage received of 11.9% during the second quarter of 2021, compared with SBA loan sales of $30.2 million with an average premium percentage received of 10.9% during the first quarter of 2021 and SBA loan sales of $9.8 million with an average premium percentage received of 8.6% during the second quarter of 2020. The increased gain on sale of SBA loans was partially offset by a decline in SBA servicing fees during the current quarter due to a higher level of payoffs during the period.

Noninterest Expense:

Noninterest expense for second quarter 2021 was $9.7 million, compared to $8.6 million for first quarter 2021 and $7.5 million for second quarter 2020. Salaries and employee benefits increased by $1.1 million to $6 million in second quarter 2021, compared to $4.9 million in the prior quarter, due to the effect of higher incentive payments made related to loan originations and a decrease in the amount of compensation deferred as loan origination costs.

Income Taxes:

The Company' s effective tax rate for second quarter 2021 was 28.9% compared to 28.6% for first quarter 2021 and 27.0% for second quarter 2020.

Balance Sheet:

Investment Securities:

Investment securities were $82.4 million at June 30, 2021, a decrease of $1.1 million from March 31, 2021 and $8.7 million from June 30, 2020. The decreases were due to principal paydowns. There were no portfolio additions in second quarter 2021, or in the first quarter 2021 or second quarter 2020.

Loans Receivable:

Loans receivable (including loans held for sale) at June 30, 2021 was $1.23 billion, an increase of $40.2 million, or 3.4%, from loans receivable at March 31, 2021, and an increase of $192.5 million, or 18.6%, from loans receivable at June 30, 2020.

Loan payment deferments to our commercial borrowers under the CARES Act have continued to decline since the first round of deferments that began during the second quarter of 2020. As of June 30, 2021, five loans totaling $29.7 million remain on modified payment terms. This is a decline from $50.4 million of such loans at March 31, 2021, and $298.7 million of such loans at June 30, 2020. No additional modification requests are currently in process.

Our weighted average loan-to-value ratio of commercial real estate loans was 72.4% at June 30, 2021. Excluding SBA loans, our weighted average loan-to-value of CRE loans was 55.9%. For additional information, please go to www.cbb-bank.com under tab "About Us" and select "Investors Relations" to see 2Q 2021 Overview and COVID-19 update presentation.

Paycheck Protection Program (PPP):

PPP loans totaled $85.4 million at June 30, 2021. Net unearned fees on PPP loans as of June 30, 2021 was $2.4 million, which fees are being accreted to income based on a two-year contractual maturity. The SBA approved $26.5 million in PPP loan forgiveness applications processed for our PPP loans in second quarter 2021.

Allowance for Loan Losses and Asset Quality:

Our allowance for loan losses at June 30, 2021 was $14.9 million, or 1.32% of portfolio loans, compared to $14.9 million, or 1.34% of portfolio loans, at March 31 2021 and compared to $12.3 million, or 1.22% of portfolio loans, at June 30, 2020. Excluding PPP loans of $85.4 million, which are government guaranteed, the allowance for loan losses at June 30, 2021 was 1.42%, compared to 1.48% and 1.34%, respectively, at March 31 2021 and June 30, 2020. Non-performing loans remained unchanged at $1.3 million over the quarter. Loans with payment deferments are considered to be performing loans in accordance with regulatory guidance. Our coverage ratio of allowance for loan losses to nonperforming assets exceeded 1,100%. For additional information, please go to www.cbb-bank.com under tab "About Us" and select "Investors Relations" to see 2Q 2021 Overview and COVID-19 update presentation.

SBA Loans Held for Sale:

SBA loans held for sale at June 30, 2021 were $96.6 million, compared to $76.1 million at March 31 2021 and $32.3 million at June 30, 2020. We continue to assess SBA loan sale premiums and plan to sell loans when we believe it is advantageous to do so. See comments under "Noninterest Income", and Table 7 for additional SBA loan origination and sale data.

Deposits:

Deposits were $1.38 billion at June 30, 2021, up $187.2 million, or 15.7% from March 31 2021 and up $351.0 million, or 34.2%, from June 30, 2020. Noninterest-bearing demand deposits ("DDAs") increased $163.5 million, or 40.0%, to $572.3 million at June 30, 2021 from March 31 2021 and increased $277.3 million, or 94.0%, from June 30, 2020. DDAs were 41.5% of total deposits at June 30, 2021, compared to 34.3% at March 31 2021 and 28.7% at June 30, 2020. NOW and MMDA accounts increased $20.9 million, or 7.7%, to $291.4 million at June 30, 2021 from March 31 2021 and increased $98.5 million, or 51.0%, from June 30, 2020. Time deposits increased $7.7 thousand, or 1.7%, at June 30, 2021 from March 31 2021 and increased $2.2 thousand, or 0.5%, from June 30, 2020. Time deposits at June 30, 2021 were $473.7 million, or 34.4% of total deposits, compared to $466.0 million, or 39.1% of total deposits, at March 31, 2021, and $471.5 million, or 45.9% of total deposits, at June 30, 2020. As noted above, we are focused on increasing demand deposits and reducing our cost of funds.

Borrowings:

Borrowings at June 30, 2021 consisted of $50.0 million of Federal Home Loan Bank of San Francisco (FHLB-SF) advances, compared to $65.0 million of FHLB-SF advances at March 31, 2021. Borrowings at June 30, 2020 were $148.7 million and consisted of $90.0 million of FHLB-SF advances and $58.7 million of FRB PPP Liquidity Facility.

Capital:

Stockholders' equity was $171.2 million at June 30, 2021, representing an increase of $6.1 million, or 3.7%, over stockholders' equity of $165.1 million at March 31, 2021. Book value per share at June 30, 2021 was $16.66, compared with $16.11 at March 31, 2021, an increase of $0.55 per share or 3.4%.

All of our regulatory capital ratios continue to exceed the minimum levels required to be considered "Well Capitalized" as defined for bank regulatory purposes and in compliance with the fully phased-in Basel III requirements, as shown on Table 11 in this press release. Our Common Equity Tier 1 risked-based capital at June 30, 2021 was 14.58% at the Company level and 14.55% at the Bank level.

About CBB Bancorp, Inc.:

CBB Bancorp, Inc. is the holding company of Commonwealth Business Bank, a full-service commercial bank which specializes in loans to small-to medium-sized businesses and does business as "CBB Bank." As of July 31, 2021, the Bank has ten full-service branches in Los Angeles and Orange Counties in California, and Dallas County in Texas and Honolulu, Hawaii; two SBA regional offices in Los Angeles and Dallas Counties; and five loan production offices in Texas, Georgia, Colorado and Washington.

For additional information, please go to www.cbb-bank.com under tab "About Us" and select "Investors Relations" to see 2Q 2021 Overview and COVID-19 update presentation.

FORWARD-LOOKING STATEMENTS:

This news release contains forward-looking statements. These statements typically include words such as "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "likely," "may," "outlook," "plan," "potential," "predict," "project," "should," "will," "would" and similar terms and phrases, including references to assumptions. You should not place undue reliance on such statements. Forward-looking statements are based upon various assumptions and analyses made by the Company in light of management's experience and its perception of historical trends, current conditions and expected future developments, as well as other factors it believes are appropriate under the circumstances. These statements are not guarantees of future performance and are subject to risks, uncertainties and other factors (many of which are beyond the Company's control) that could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Factors that could affect our results include, without limitation, the following: the timing and occurrence or non-occurrence of events may be subject to circumstances beyond the Company's control; increases in competitive pressure among financial institutions or from non-financial institutions may occur; changes in the interest rate environment may reduce interest margins; changes in deposit flows, loan demand or real estate values may adversely affect the business of the Company and the Bank; significant increases in loan losses may occur; the possibility that changes in accounting principles, policies or guidelines may cause the Company's financial condition to be perceived differently; changes in corporate and/or individual income tax laws may adversely affect the Company's financial condition or results of operations; general economic conditions, either nationally or locally in some or all areas in which the Company conducts business, the effects of the COVID-19 pandemic, and of other widespread outbreaks of disease or pandemics, together with related impacts on general economic conditions, including adverse impacts on our customers' ability to make timely payments on their loans from us, reduced fee income due to reduced loan origination activity, reductions in or absence of gains on loan sales due to uncertainty in the loan sale market, and increased operating expense due to required changes in how we conduct our business may adversely affect us; conditions in the securities markets or the banking industry may be less favorable than the Company currently anticipates; legislation or regulatory changes may adversely affect the Company's business; technological changes may be more difficult or expensive to implement or accommodate than the Company anticipates; there may be failures or breaches of information technology security systems; success or consummation of new business initiatives may be more difficult or expensive than the Company anticipates; or litigation or matters before regulatory agencies, whether currently existing or commencing in the future, may delay the occurrence or non-occurrence of events longer than the Company anticipates; we may encounter greater difficulty, delay and expense than we anticipate in integrating the personnel and operations of companies we acquire. The Company undertakes no obligation to revise any forward-looking statement contained herein to reflect any future events or circumstances, except to the extent required by law.

Schedules and Financial Data: All tables and data to follow

STATEMENT OF INCOME AND PERFORMANCE HIGHLIGHT (Unaudited) - Table 1
	(Dollars in thousands, except per share amounts)

		Three Months Ended																			Six Months Ended
		June 30,			March, 31			$			%		June 30,			$			%		June 30,			June 30,			$			%
			2021			2021		Change			Change			2020		Change			Change			2021			2020		Change			Change

Interest income		$	14,923		$	14,372		$	551		3.8	%	$	13,206		$	1,717		13.0	%	$	29,295		$	27,679		$	1,616		5.8	%
Interest expense			1,358			1,533			(175	)	(11.4	%)		3,342			(1,984	)	(59.4	%)		2,891			7,323			(4,432	)	(60.5	%)
Net interest income			13,565			12,839			726		5.7	%		9,864			3,701		37.5	%		26,404			20,356			6,048		29.7	%

Provision for loan losses			-			500			(500	)	(100.0	%)		1,600			(1,600	)	(100.0	%)		500			2,300			(1,800	)	(78.3	%)
Net interest income after provision for loan losses			13,565			12,339			1,226		9.9	%		8,264			5,301		64.1	%		25,904			18,056			7,848		43.5	%

Gain on sale of loans			3,988			2,456			1,532		62.4	%		509			3,479		683.5	%		6,444			1,448			4,996		345.0	%
Gain (loss) on sale of OREO			-			-			-		-			9			(9	)	(100.0	%)		-			3			(3	)	(100.0	%)
SBA servicing fee income, net			622			847			(225	)	(26.6	%)		738			(116	)	(15.7	%)		1,469			1,110			359		32.3	%
Reversal of valuation allowance on servicing assets			-			-			-		-			-			-		-			-			-			-		-
Service charges and other income			395			379			16		4.2	%		251			144		57.4	%		774			647			127		19.6	%
Noninterest income			5,005			3,682			1,323		35.9	%		1,507			3,498		232.1	%		8,687			3,208			5,479		170.8	%

Salaries and employee benefits			6,000			4,853			1,147		23.6	%		4,617			1,383		30.0	%		10,853			10,319			534		5.2	%
Occupancy and equipment			945			979			(34	)	(3.5	%)		943			2		0.2	%		1,924			1,889			35		1.9	%
Marketing expense			309			287			22		7.7	%		279			30		10.8	%		596			737			(141	)	(19.1	%)
Professional expense			491			455			36		7.9	%		500			(9	)	(1.8	%)		946			935			11		1.2	%
Merger related expense			600			681			(81	)	(11.9	%)		-			600		100.0	%		1,281			-			1,281		100.0	%
Other expenses			1,356			1,300			56		4.3	%		1,168			188		16.1	%		2,656			2,562			94		3.7	%
Noninterest expense			9,701			8,555			1,146		13.4	%		7,507			2,194		29.2	%		18,256			16,442			1,814		11.0	%

Income before income tax expense			8,869			7,466			1,403		18.8	%		2,264			6,605		291.7	%		16,335			4,822			11,513		238.8	%

Income tax expense			2,566			2,132			434		20.4	%		612			1,954		319.3	%		4,698			1,558			3,140		201.5	%

Net income		$	6,303		$	5,334		$	969		18.2	%	$	1,652		$	4,651		281.5	%	$	11,637		$	3,264		$	8,373		256.5	%

Effective tax rate			28.9	%		28.6	%		0.4	%	1.3	%		27.0	%		1.9	%	7.0	%		28.8	%		32.3	%		(3.5	%)	(11.0	%)

Outstanding number of shares			10,279,962			10,247,292			32,670		0.3	%		10,237,310			42,652		0.4	%		10,279,962			10,237,310			42,652		0.4	%

Weighted average shares for basic EPS			10,262,956			10,247,292			15,664		0.2	%		10,237,310			25,646		0.3	%		10,255,167			10,230,728			24,439		0.2	%
Weighted average shares for diluted EPS			10,392,427			10,300,518			91,909		0.9	%		10,276,637			115,790		1.1	%		10,346,516			10,302,184			44,332		0.4	%

Basic EPS		$	0.61		$	0.52		$	0.09		17.3	%	$	0.16		$	0.45		281.3	%	$	1.13		$	0.32		$	0.81		253.1	%
Diluted EPS		$	0.61		$	0.52		$	0.09		17.3	%	$	0.16		$	0.45		281.3	%	$	1.13		$	0.32		$	0.81		253.1	%

Return on average assets			1.70	%		1.58	%		0.12	%	7.6	%		0.52	%		1.18	%	226.9	%		1.65	%		0.54	%		1.11	%	205.6	%
Return on average equity			14.91	%		13.26	%		1.65	%	12.4	%		4.36	%		10.55	%	242.0	%		14.11	%		4.34	%		9.77	%	225.1	%

Efficiency ratio¹			52.24	%		51.78	%		0.46	%	0.9	%		66.02	%		(13.8	%)	(20.9	%)		52.02	%		69.78	%		(17.76	%)	(25.5	%)
Yield on interest-earning assets²			4.12	%		4.37	%		(0.25	%)	(5.7	%)		4.24	%		(0.12	%)	(2.8	%)		4.24	%		4.74	%		(0.50	%)	(10.5	%)
Cost of funds			0.42	%		0.52	%		(0.10	%)	(19.2	%)		1.20	%		(0.78	%)	(65.0	%)		0.47	%		1.42	%		(0.95	%)	(66.9	%)
Cost of funds exc. SBA PPP loan funding			0.42	%		0.54	%		(0.12	%)	(22.2	%)		1.25	%		(0.83	%)	(66.4	%)		0.48	%		1.45	%		(0.97	%)	(66.9	%)
Net interest margin²			3.75	%		3.90	%		(0.15	%)	(3.9	%)		3.17	%		0.58	%	18.3	%		3.82	%		3.49	%		0.33	%	9.5	%
Net interest margin exc. SBA PPP loans²			3.78	%		3.86	%		(0.08	%)	(2.1	%)		3.20	%		0.58	%	18.1	%		3.82	%		3.51	%		0.31	%	8.8	%

¹ Represents the ratio of noninterest expense less other real estate owned operations to the sum of net interest income before provision for credit losses and total noninterest income, less gains/(loss) on sale of securities, other-than-temporary impairment recovery/(loss) on investment securities and gain/(loss) from other real estate owned.
² Amounts calculated on a fully taxable equivalent basis using the current statutory federal tax rate

BALANCE SHEET, CAPITAL AND OTHER DATA (Unaudited) - Table 2
(Dollars in thousands)

		June 30,			March, 31			$			%		June 30,			$			%
			2021			2021		Change			Change			2020		Change			Change
ASSETS
	Cash and due from banks	$	10,509		$	9,215		$	1,294		14.0	%	$	9,043		$	1,466		16.2	%
	Interest-earning deposits at the FRB and other banks		240,932			129,713			111,219		85.7	%		179,519			61,413		34.2	%
	Investment securities¹		82,354			83,409			(1,055	)	(1.3	%)		91,091			(8,737	)	(9.6	%)
	Loans held-for-sale, at the lower of cost or fair value		96,554			76,066			20,488		26.9	%		32,264			64,290		199.3	%

	Loans receivable		1,133,371			1,113,629			19,742		1.8	%		1,005,128			128,243		12.8	%
	Allowance for loan losses		(14,908	)		(14,888	)		(20	)	(0.1	%)		(12,283	)		(2,625	)	(21.4	%)
	Loans receivable, net		1,118,463			1,098,741			19,722		1.8	%		992,845			125,618		12.7	%

	OREO		-			-			-		-			-			-		-
	Restricted stock investments		8,850			8,196			654		8.0	%		8,196			654		8.0	%
	Servicing assets		10,189			10,000			189		1.9	%		8,944			1,245		13.9	%
	Other assets		45,071			21,431			23,640		110.3	%		21,383			23,688		110.8	%
	Total assets	$	1,612,922		$	1,436,771		$	176,151		12.3	%	$	1,343,285		$	269,637		20.1	%

LIABILITIES AND STOCKHOLDERS' EQUITY
	Noninterest-bearing	$	572,284		$	408,738		$	163,546		40.0	%	$	295,003		$	277,281		94.0	%
	Interest-bearing		806,397			782,778			23,619		3.0	%		732,647			73,750		10.1	%
	Total deposits		1,378,681			1,191,516			187,165		15.7	%		1,027,650			351,031		34.2	%

	FHLB advances and other borrowing		50,000			65,000			(15,000	)	(23.1	%)		148,671			(98,671	)	(66.4	%)
	Other liabilities		13,026			15,170			(2,144	)	(14.1	%)		14,208			(1,182	)	(8.3	%)
	Total liabilities		1,441,707			1,271,686			170,021		13.4	%		1,190,529			251,178		21.1	%

	Stockholders' Equity		171,215			165,085			6,130		3.7	%		152,756			18,459		12.1	%
TOTAL LIABILITIES & STOCKHOLDERS' EQUITY		$	1,612,922		$	1,436,771		$	176,151		12.3	%	$	1,343,285		$	269,637		20.1	%

CAPITAL RATIOS
	Leverage ratio
	Company		11.35	%		11.89	%		(0.54	%)	(4.5	%)		11.98	%		(0.63	%)	(5.2	%)
	Bank		11.33	%		11.87	%		(0.54	%)	(4.5	%)		11.94	%		(0.61	%)	(5.1	%)
	Common equity tier 1 risk-based capital ratio
	Company		14.39	%		15.00	%		(0.61	%)	(4.1	%)		15.23	%		(0.84	%)	(5.5	%)
	Bank		14.37	%		14.98	%		(0.61	%)	(4.1	%)		15.18	%		(0.81	%)	(5.3	%)
	Tier 1 risk-based capital ratio
	Company		14.39	%		15.00	%		(0.61	%)	(4.1	%)		15.23	%		(0.84	%)	(5.5	%)
	Bank		14.37	%		14.98	%		(0.61	%)	(4.1	%)		15.18	%		(0.81	%)	(5.3	%)
	Total risk-based capital ratio
	Company		15.64	%		16.25	%		(0.61	%)	(3.8	%)		16.48	%		(0.84	%)	(5.1	%)
	Bank		15.62	%		16.23	%		(0.61	%)	(3.8	%)		16.43	%		(0.81	%)	(4.9	%)
	Book value per share	$	16.66		$	16.11		$	0.55		3.4	%	$	14.92		$	1.74		11.7	%
	Loan-to-Deposit (LTD) ratio		82.21	%		93.46	%		(11.25	%)	(12.0	%)		97.81	%		(15.60	%)	(15.9	%)
	Nonperforming assets	$	1,339		$	1,347		$	(8	)	(0.6	%)	$	4,189		$	(2,850	)	(68.0	%)
	Nonperforming assets as a % of loans receivable		0.12	%		0.12	%		-		-			0.42	%		(0.30	%)	(71.4	%)
	ALLL as a % of loans receivable		1.32	%		1.34	%		(0.02	%)	(1.5	%)		1.22	%		0.10	%	8.2	%
	ALLL as a % of loans receivable exc. SBA PPP loans		1.42	%		1.48	%		(0.06	%)	(4.1	%)		1.34	%		0.08	%	6.0	%

¹ Includes AFS and HTM

FIVE-QUARTER STATEMENT OF INCOME (Unaudited) - Table 3
(Dollars in thousands, except per share amounts)

	Three Months Ended
	June 30,			March, 31			December, 31			September 30,			June 30,
		2021			2021			2020			2020			2020

Interest income	$	14,923		$	14,372		$	13,613		$	13,212		$	13,206
Interest expense		1,358			1,533			1,830			2,558			3,342
Net interest income		13,565			12,839			11,783			10,654			9,864

Provision for loan losses		-			500			1,600			1,600			1,600
Net interest income after provision for loan losses		13,565			12,339			10,183			9,054			8,264

Gain on sale of loans		3,988			2,456			1,484			1,662			509
Gain (loss) on sale of OREO		-			-			-			-			9
SBA servicing fee income, net		622			847			701			948			738
Reversal of valuation allowance on servicing assets		-			-			894			-			-
Service charges and other income		395			379			364			385			251
Noninterest income		5,005			3,682			3,443			2,995			1,507

Salaries and employee benefits		6,000			4,853			5,477			4,948			4,617
Occupancy and equipment		945			979			936			938			943
Marketing expense		309			287			133			265			279
Professional expense		491			455			478			503			500
Merger related expense		600			681			40			58			-
Other expenses		1,356			1,300			1,329			1,309			1,168
Noninterest expense		9,701			8,555			8,393			8,021			7,507

Income before income tax expense		8,869			7,466			5,233			4,028			2,264

Income tax expense		2,566			2,132			1,519			1,125			612

Net income	$	6,303		$	5,334		$	3,714		$	2,903		$	1,652

Effective tax rate		28.9	%		28.6	%		29.0	%		27.9	%		27.0	%

Outstanding number of shares		10,279,962			10,247,292			10,247,292			10,247,292			10,237,310

Weighted average shares for basic EPS		10,262,956			10,247,292			10,247,292			10,244,037			10,237,310
Weighted average shares for diluted EPS		10,392,427			10,300,518			10,285,410			10,273,148			10,276,637

Basic EPS	$	0.61		$	0.52		$	0.36		$	0.28		$	0.16
Diluted EPS	$	0.61		$	0.52		$	0.36		$	0.28		$	0.16

QUARTERLY SALARIES BENEFIT METRICS (Unaudited) - Table 4
(Dollars in thousands)

	At or for the Three Months Ended
	June 30,			March, 31			December, 31			September 30,			June 30,
		2021			2021			2020			2020			2020

Salaries and benefits	$	6,000		$	4,853		$	5,477		$	4,948		$	4,617
FTE at the end of period		183			186			183			179			191
Average FTE during the period		182			187			184			181			193
Salaries and benefits/average FTE¹	$	132		$	105		$	118		$	109		$	96
Salaries and benefits/average assets¹		1.62	%		1.44	%		1.58	%		1.45	%		1.44	%
Noninterest expense/average assets¹		2.62	%		2.54	%		2.42	%		2.34	%		2.35	%

¹ Annualized

FIVE-QUARTER BALANCE SHEET (Unaudited) - Table 5
(Dollars in thousands)

		June 30,			March, 31			December, 31			September 30,			June 30,
			2021			2021			2020			2020			2019
ASSETS
	Cash and due from banks	$	10,509		$	9,215		$	8,750		$	8,030		$	9,043
	Interest-earning deposits at the FRB and other banks		240,932			129,713			153,908			212,279			179,519
	Investment securities¹		82,354			83,409			85,914			88,784			91,091
	Loans held-for-sale, at the lower of cost or fair value		96,554			76,066			59,077			53,755			32,264

	Loans receivable		1,133,371			1,113,629			1,043,662			1,011,867			1,005,128
	Allowance for loan losses		(14,908	)		(14,888	)		(14,366	)		(13,614	)		(12,283	)
	Loans receivable, net		1,118,463			1,098,741			1,029,296			998,253			992,845

	OREO		-			-			-			-			-
	Restricted stock investments		8,850			8,196			8,196			8,196			8,196
	Servicing assets		10,189			10,000			9,873			9,043			8,944
	Other assets		45,071			21,431			20,233			21,064			21,383
	Total assets	$	1,612,922		$	1,436,771		$	1,375,247		$	1,399,404		$	1,343,285


LIABILITIES AND STOCKHOLDERS' EQUITY
	Noninterest-bearing	$	572,284		$	408,738		$	335,219		$	363,350		$	295,003
	Interest-bearing		806,397			782,778			763,906			738,040			732,647
	Total deposits		1,378,681			1,191,516			1,099,125			1,101,390			1,027,650

	FHLB advances		50,000			65,000			105,000			128,671			148,671
	Other liabilities		13,026			15,170			11,145			13,295			14,208
	Total liabilities		1,441,707			1,271,686			1,215,270			1,243,356			1,190,529

	Stockholders' Equity		171,215			165,085			159,977			156,048			152,756
TOTAL LIABILITIES & STOCKHOLDERS' EQUITY		$	1,612,922		$	1,436,771		$	1,375,247		$	1,399,404		$	1,343,285

¹ Includes AFS and HTM

FIVE-QUARTER LOANS RECEIVABLE COMPONENTS (Unaudited) - Table 6
(Dollars in thousands)

	June 30, 2021				March 31, 2021				December 31, 2020				September 30, 2020				June 30, 2020
	Balance		%		Balance		%		Balance		%		Balance		%		Balance			%

Construction	$	18,753	1.7	%	$	15,858	1.4	%	$	13,685	1.3	%	$	18,236	1.8	%	$	14,649		1.5	%
Commercial real estate		893,700	78.9	%		855,861	76.9	%		820,355	78.6	%		779,062	77.0	%		769,563		76.6	%
Commercial and industrial		217,350	19.2	%		237,865	21.4	%		205,883	19.7	%		211,298	20.9	%		215,362		21.4	%
Consumer		2,236	0.2	%		3,504	0.3	%		2,439	0.2	%		2,751	0.3	%		5,646		0.6	%
Gross loans		1,132,039	99.9	%		1,113,088	100.0	%		1,042,362	99.9	%		1,011,347	99.9	%		1,005,220		100.0	%

Net deferred loan fees/costs		1,332	0.1	%		541	0.0	%		1,300	0.1	%		520	0.1	%		(92	)	0.0	%
Loans receivable	$	1,133,371	100.0	%	$	1,113,629	100.0	%	$	1,043,662	100.0	%	$	1,011,867	100.0	%	$	1,005,128		100.0	%

Loans held-for-sale	$	96,554			$	76,066			$	59,077			$	53,755			$	32,264
Loans receivable, including loans held-for-sale	$	1,229,925			$	1,189,695			$	1,102,739			$	1,065,622			$	1,037,392

SBA LOAN PRODUCTIONS/SALES DATA (Unaudited) - Table 7
(Dollars in thousands)

				Three Months Ended
	June 30,			March 31,			December 31,			September 30,			June 30,
		2021			2021			2020			2020			2020

SBA loans held-for-sale at beginning of the quarter/year	$	76,066		$	59,077		$	53,755		$	32,264		$	29,988
SBA loans originated/transferred from/to held-for-
investment during the quarter/year		62,864			48,152			26,837			46,731			12,497
SBA loans sold during the quarter/year		(42,163	)		(30,238	)		(20,382	)		(24,866	)		(9,832	)
SBA loans principal payment, net of advance		(213	)		(925	)		(1,133	)		(374	)		(389	)
SBA loans held-for-sale at end of the quarter/year	$	96,554		$	76,066		$	59,077		$	53,755		$	32,264

Gain on sale of SBA loans	$	3,988		$	2,456		$	1,484		$	1,662		$	509
Premium on sale (weighted average)		11.9	%		10.9	%		10.7	%		9.8	%		8.6	%

SBA loan production	$	78,058		$	123,762		$	37,116		$	59,957		$	113,782
Non-PPP loans		75,065			71,204			37,116			59,009			18,356
PPP loans		2,994			52,558			-			948			95,426

SBA SERVICING ASSETS AND SERVICING FEES (Unaudited) - Table 8
(Dollars in thousands)

				Three Months Ended
	June 30,			March 31,			December 31,			September 30,			June 30,
		2021			2021			2020			2020			2020


SBA servicing assets @ beginning of the quarter/year	$	10,000		$	9,873		$	9,043		$	8,944		$	9,203

Newly added SBA servicing assets from SBA loans sold		897			635			441			523			197
Regular quarterly/annual servicing assets amortization		(422	)		(358	)		(392	)		(384	)		(383	)
SBA servicing assets amortized from SBA loans paid off/charged off		(286	)		(150	)		(113	)		(40	)		(73	)

Subtotal before impairment		10,189			10,000			8,979			9,043			8,944

Reversal of valuation allowance on servicing assets		-						894			-			-

SBA servicing assets @ the end of the quarter/year	$	10,189		$	10,000		$	9,873		$	9,043		$	8,944

FIVE-QUARTER DEPOSIT COMPONENTS (Unaudited) - Table 9
(Dollars in thousands)

	June 30, 2021				March 31, 2021				December 31, 2020				September 30, 2020				June 30, 2020
	Balance		%		Balance		%		Balance		%		Balance		%		Balance		%

Noninterest-bearing demand	$	572,284	41.5	%	$	408,738	34.3	%	$	335,219	30.5	%	$	363,350	33.0	%	$	295,003	28.7	%
NOW & MMDA		291,437	21.1	%		270,531	22.7	%		260,374	23.7	%		229,730	20.9	%		192,950	18.8	%
Savings		41,284	3.0	%		46,280	3.9	%		51,659	4.7	%		61,631	5.6	%		68,244	6.6	%
TCDs of $250K and under		219,174	15.9	%		226,611	19.0	%		232,192	21.1	%		230,230	20.9	%		241,718	23.5	%
TCDs of $250K over		158,485	11.5	%		151,094	12.7	%		150,143	13.7	%		146,911	13.3	%		139,197	13.5	%
Wholesale TCDs		96,017	7.0	%		88,262	7.4	%		69,538	6.3	%		69,538	6.3	%		90,538	8.8	%
Total Deposits	$	1,378,681	100.0	%	$	1,191,516	100.0	%	$	1,099,125	100.0	%	$	1,101,390	100.0	%	$	1,027,650	100.0	%

Recap:
Noninterest-bearing demand	$	572,284	41.5	%	$	408,738	34.3	%	$	335,219	30.5	%	$	363,350	33.0	%	$	295,003	28.7	%
NOW & MMDA		291,437	21.1	%		270,531	22.7	%		260,374	23.7	%		229,730	20.9	%		192,950	18.8	%
Savings		41,284	3.0	%		46,280	3.9	%		51,659	4.7	%		61,631	5.6	%		68,244	6.6	%
TCDs of $250K and under		219,174	15.9	%		226,611	19.0	%		232,192	21.1	%		230,230	20.9	%		241,718	23.5	%
Core Deposits		1,124,179	81.5	%		952,160	79.9	%		879,444	80.0	%		884,941	80.3	%		797,915	77.6	%

TCDs of $250K over		158,485	11.5	%		151,094	12.7	%		150,143	13.7	%		146,911	13.3	%		139,197	13.5	%
Wholesale TCDs		96,017	7.0	%		88,262	7.4	%		69,538	6.3	%		69,538	6.3	%		90,538	8.8	%
Noncore Deposits		254,502	18.5	%		239,356	20.1	%		219,681	20.0	%		216,449	19.7	%		229,735	22.4	%
Total Deposits	$	1,378,681	100.0	%	$	1,191,516	100.0	%	$	1,099,125	100.0	%	$	1,101,390	100.0	%	$	1,027,650	100.0	%

SELECTED LOAN AND ASSET QUALITY HIGHLIGHTS (Unaudited) - Table 10
(Dollars in thousands)

	2nd Qtr.			1st Qtr.			4th Qtr.			3rd Qtr.			2nd Qtr.
		2021			2021			2020			2020			2020
Allowance for Loan Losses
Balance at beginning of period	$	14,888		$	14,366		$	13,614		$	12,283		$	11,034
Provision for loan losses		-			500			1,600			1,600			1,600
Charge-offs		-			(2	)		(907	)		(292	)		(359	)
Recoveries		20			24			59			23			8
Balance at the end of period	$	14,908		$	14,888		$	14,366		$	13,614		$	12,283

Nonperforming Assets:¹
Over 90 days still accruing	$	-		$	-		$	2		$	200		$	-
Nonaccrual loans		1,339			1,347			2,359			3,911			4,189
Total nonperforming loans		1,339			1,347			2,361			4,111			4,189

Other real estate owned		-			-			-			-			-
Total nonperforming assets	$	1,339		$	1,347		$	2,361		$	4,111		$	4,189

Classified Assets:¹
Substandard	$	10,052		$	9,843		$	18,920		$	20,579		$	9,909
Doubtful		-			-			68			-			-
Loss		-			-			-			-			-
Total classified loans	$	10,052		$	9,843		$	18,988		$	20,579		$	9,909

Other real estate owned		-			-			-			-			-
Total classified assets	$	10,052		$	9,843		$	18,988		$	20,579		$	9,909

Performing TDR loans:	$	3,776		$	2,516		$	2,847		$	1,072		$	1,073

Delinquent Loans:¹
Loans 30-89 days past due	$	2,524		$	1,681		$	3,095		$	714		$	721
90 days or more past due and still accruing		-			-			2			200			-
Nonaccrual		1,339			1,347			2,359			3,911			4,189
Total delinquent loans	$	3,863		$	3,028		$	5,456		$	4,825		$	4,910

Asset Quality Ratios:
Net (recoveries) charge-offs to average loans²		(0.01	%)		(0.01	%)		0.32	%		0.10	%		0.14	%
Nonaccrual loans to loans receivable		0.12	%		0.12	%		0.23	%		0.39	%		0.42	%
Nonperforming loans to loans receivable		0.12	%		0.12	%		0.23	%		0.41	%		0.42	%
Nonperforming assets to total assets		0.08	%		0.09	%		0.17	%		0.29	%		0.31	%
Classified loans to loans receivable		0.89	%		0.88	%		1.82	%		2.03	%		0.99	%
Classified loans to Tier 1 and ALLL		5.40	%		5.47	%		10.89	%		12.13	%		6.00	%
Classified assets to total assets		0.62	%		0.69	%		1.38	%		1.47	%		0.74	%
Classified assets to Tier 1 and ALLL		5.40	%		5.47	%		10.89	%		12.13	%		6.00	%
ALLL to loans receivable		1.32	%		1.34	%		1.38	%		1.35	%		1.22	%
ALLL to loans receivable exc. SBA PPP loans		1.42	%		1.48	%		1.51	%		1.48	%		1.34	%
ALLL to nonaccrual loans		1113.37	%		1105.27	%		608.99	%		348.10	%		293.22	%
ALLL to nonperforming loans		1113.37	%		1105.27	%		608.47	%		331.16	%		293.22	%
ALLL to nonperforming assets		1113.37	%		1105.27	%		608.47	%		331.16	%		293.22	%
Texas ratio ³		0.72	%		0.75	%		1.35	%		2.42	%		2.54	%

¹ Net of SBA guaranteed balance
² Includes loans held-for-sale
³ Nonperforming assets divided by tangible common equity and ALLL

FIVE-QUARTER CAPITAL RATIOS (Unaudited) - Table 11

	Well Capitalized	Adequately Capitalized	June 30,			March 31,			December 31,			September 30,			June 30,
	Regulatory	BASEL III
	Requirement	Fully Phased In		2021			2021			2020			2020			2020

Leverage ratio
Company	N/A	N/A		11.35	%		11.89	%		11.56	%		11.76	%		11.98	%
Bank	5.00%	4.00%		11.33	%		11.87	%		11.54	%		11.72	%		11.94	%
Common equity tier 1 risk-based capital ratio
Company	N/A	N/A		14.39	%		15.00	%		15.01	%		15.24	%		15.23	%
Bank	6.50%	7.00%		14.37	%		14.98	%		14.97	%		15.20	%		15.18	%
Tier 1 risk-based capital ratio
Company	N/A	N/A		14.39	%		15.00	%		15.01	%		15.24	%		15.23	%
Bank	8.00%	8.50%		14.37	%		14.98	%		14.97	%		15.20	%		15.18	%
Total risk-based capital ratio
Company	N/A	N/A		15.64	%		16.25	%		16.26	%		16.50	%		16.48	%
Bank	10.00%	10.50%		15.62	%		16.23	%		16.22	%		16.45	%		16.43	%

Common equity/total assets				10.62	%		11.49	%		11.63	%		11.15	%		11.37	%
Common equity per share			$	16.66		$	16.11		$	15.61		$	15.23		$	14.92

MARGIN ANALYSIS (Unaudited) -Table 12
(Dollars in thousands)

	Three Months Ended
	June 30, 2021							March 31, 2021							December 31, 2020							September 30, 2020							June 30, 2020
	Avg Balance			Interest		Yield		Avg Balance			Interest		Yield		Avg Balance			Interest		Yield		Avg Balance			Interest		Yield		Avg Balance			Interest		Yield
Number of Days in the Period
INTEREST-EARNING ASSETS
Loans ¹	$	1,195,908		$	14,338	4.81	%	$	1,138,134		$	13,837	4.93	%	$	1,066,368		$	13,045	4.87	%	$	1,046,678		$	12,650	4.81	%	$	1,018,596		$	12,568	4.96	%
Investment securities²		83,152			442	2.13	%		84,679			448	2.15	%		87,818			474	2.15	%		90,450			471	2.07	%		91,401			546	2.40	%
Interest-earning deposits at the FRB and other banks		168,677			54	0.13	%		108,127			36	0.14	%		191,703			59	0.12	%		186,678			58	0.12	%		137,945			45	0.13	%
Other earning assets		8,737			135	6.20	%		8,196			97	4.80	%		8,196			81	3.93	%		8,196			80	3.88	%		8,195			93	4.56	%
Total interest-earning assets ²		1,456,474			14,969	4.12	%		1,339,136			14,418	4.37	%		1,354,085			13,659	4.01	%		1,332,002			13,259	3.96	%		1,256,137			13,252	4.24	%
Total interest-earning assets exc. SBA PPP loans²		1,356,195			14,041	4.15	%		1,241,306			13,269	4.34	%		1,264,075			12,945	4.07	%		1,239,609			12,657	4.06	%		1,193,346			12,775	4.31	%

NONINTEREST-EARNING ASSETS
Cash and due from banks		10,752							10,025							10,234							10,685							8,224
Other noninterest-earning assets		32,002							31,156							28,903							31,216							32,285
Total noninterest-earning assets		42,754							41,181							39,137							41,901							40,509

Less: Allowance for loan losses		(14,899	)						(14,381	)						(13,505	)						(12,293	)						(10,931	)
TOTAL ASSETS	$	1,484,329						$	1,365,936						$	1,379,717						$	1,361,610						$	1,285,715

INTEREST-BEARING DEPOSITS
Interest-bearing demand	$	13,373		$	2	0.06	%	$	15,813		$	2	0.05	%	$	11,444		$	4	0.14	%	$	11,248		$	4	0.14	%	$	13,634		$	5	0.15	%
Money market		263,845			352	0.54	%		265,856			366	0.56	%		240,913			360	0.59	%		200,878			404	0.80	%		163,332			374	0.92	%
Savings		43,433			55	0.51	%		48,284			60	0.50	%		55,756			77	0.55	%		67,880			154	0.90	%		66,389			176	1.07	%
Time deposits		469,000			831	0.71	%		451,347			975	0.88	%		447,839			1,236	1.10	%		452,950			1,790	1.57	%		509,447			2,613	2.06	%
Total interest-bearing deposits		789,651			1,240	0.63	%		781,300			1,403	0.73	%		755,952			1,677	0.88	%		732,956			2,352	1.28	%		752,802			3,168	1.69	%

Borrowings		51,539			118	0.92	%		65,667			130	0.80	%		88,645			153	0.69	%		147,149			206	0.56	%		115,613			174	0.61	%
Total interest-bearing liabilities		841,190			1,358	0.65	%		846,967			1,533	0.73	%		844,597			1,830	0.86	%		880,105			2,558	1.16	%		868,415			3,342	1.55	%
Total interest-bearing liabilities exc. SBA PPP loan funding		740,911			1,270	0.69	%		749,137			1,449	0.78	%		754,587			1,751	0.92	%		787,712			2,476	1.25	%		805,624			3,287	1.64	%

Noninterest-bearing deposits		459,695							343,904							363,937							313,370							249,909
Other liabilities		13,906							11,942							12,623							12,750							15,141

Stockholders' equity		169,538							163,123							158,560							155,385							152,250
TOTAL LIABILITIES & STOCKHOLDERS' EQUITY	$	1,484,329						$	1,365,936						$	1,379,717						$	1,361,610						$	1,285,715

Net interest income²				$	13,611						$	12,885						$	11,829						$	10,701						$	9,910
Net interest income exc. SBA PPP Loans²				$	12,771						$	11,820						$	11,194						$	10,181						$	9,488

Net interest spread						3.47	%						3.64	%						3.15	%						2.80	%						2.69	%

Effect of noninterest-bearing sources						0.28	%						0.26	%						0.33	%						0.40	%						0.48	%

Net interest margin²						3.75	%						3.90	%						3.48	%						3.20	%						3.17	%
Net interest margin exc. SBA PPP loans²						3.78	%						3.86	%						3.52	%						3.27	%						3.20	%


Cost of deposits	$	1,249,346		$	1,240	0.40	%	$	1,125,204		$	1,403	0.51	%	$	1,119,889		$	1,677	0.60	%	$	1,046,326		$	2,352	0.89	%	$	1,002,711		$	3,168	1.27	%

Cost of funds	$	1,300,885		$	1,358	0.42	%	$	1,190,871		$	1,533	0.52	%	$	1,208,534		$	1,830	0.60	%	$	1,193,475		$	2,558	0.85	%	$	1,118,324		$	3,342	1.20	%
Cost of funds exc. SBA ppp loan funding	$	1,200,606		$	1,270	0.42	%	$	1,093,041		$	1,449	0.54	%	$	1,118,524		$	1,751	0.62	%	$	1,101,082		$	2,476	0.89	%	$	1,055,533		$	3,287	1.25	%

¹ Includes loans held-for-sale
² Amounts calculated on a fully taxable equivalent basis using the current statutory federal tax rate

COMPONENTS OF YIELD ON LOANS (Unaudited) - Table 13
(Dollars in thousands)

	Three Months Ended
	June 30, 2021				March 31, 2021				December 31, 2020				September 30, 2020				June 30, 2020
	Amount		Yield		Amount		Yield		Amount		Yield		Amount		Yield		Amount		Yield

Contractual yield	$	12,670	4.25	%	$	12,148	4.33	%	$	11,727	4.38	%	$	11,522	4.38	%	$	11,578	4.57	%
SBA discount accretion		1,027	0.34	%		738	0.26	%		730	0.27	%		615	0.23	%		662	0.26	%
Prepayment penalties & late fees		89	0.03	%		121	0.04	%		177	0.07	%		221	0.09	%		24	0.01	%
Amortization of net deferred costs		552	0.19	%		830	0.30	%		411	0.15	%		292	0.11	%		304	0.12	%
As reported yield on loans	$	14,338	4.81	%	$	13,837	4.93	%	$	13,045	4.87	%	$	12,650	4.81	%	$	12,568	4.96	%

MARGIN ANALYSIS (Unaudited) - Table 14
(Dollars in thousands)

	Six Months Ended
	June 30,2021							June 30, 2020
	Avg Balance			Interest		Yield		Avg Balance			Interest		Yield
Number of Days in the Period
INTEREST-EARNING ASSETS
Loans ¹	$	1,167,180		$	28,175	4.87	%	$	979,872		$	26,197	5.38	%
Investment securities²		83,911			890	2.14	%		92,888			1,127	2.44	%
Interest-earning deposits at the FRB and other banks		138,570			90	0.13	%		96,584			233	0.49	%
Other earning assets		8,468			232	5.52	%		8,195			215	5.28	%
Total interest-earning assets ²		1,398,129			29,387	4.24	%		1,177,539			27,772	4.74	%
Total interest-earning assets exc. SBA PPP loans²		1,299,068			27,311	4.24	%		1,146,143			27,295	4.79	%

NONINTEREST-EARNING ASSETS
Cash and due from banks		10,390							8,640
Other noninterest-earning assets		31,582							31,113
Total noninterest-earning assets		41,972							39,753

Less: Allowance for loan losses		(14,641	)						(10,763	)

TOTAL ASSETS	$	1,425,460						$	1,206,529

INTEREST-BEARING DEPOSITS
Interest-bearing demand	$	14,586		$	4	0.06	%	$	12,837		$	10	0.16	%
Money market		264,845			718	0.55	%		139,941			775	1.11	%
Savings		45,845			115	0.51	%		66,672			427	1.29	%
Time deposits		460,223			1,806	0.79	%		532,616			5,910	2.23	%
Total interest-bearing deposits		785,499			2,643	0.68	%		752,066			7,122	1.90	%

Borrowings		58,564			248	0.85	%		62,744			201	0.64	%
Total interest-bearing liabilities		844,063			2,891	0.69	%		814,810			7,323	1.81	%
Total interest-bearing liabilities exc. SBA PPP loans		745,002			2,719	0.74	%		783,414			7,268	1.87	%

Noninterest-bearing deposits		402,119							224,815
Other Liabilities		12,929							15,526

Stockholders' equity		166,349							151,378

TOTAL LIABILITIES & STOCKHOLDERS' EQUITY	$	1,425,460						$	1,206,529

Net interest income²				$	26,496						$	20,449
Net interest income exc. SBA PPP loans²				$	24,592						$	20,027

Net interest spread						3.55	%						2.93	%

Effect of noninterest-bearing sources						0.27	%						0.56	%

Net interest margin²						3.82	%						3.49	%
Net interest margin exc. SBA PPP loans²						3.82	%						3.51	%


Cost of deposits	$	1,187,618		$	2,643	0.45	%	$	976,881		$	7,122	1.47	%

Cost of funds	$	1,246,182		$	2,891	0.47	%	$	1,039,625		$	7,323	1.42	%
Cost of funds exc. SBA PPP loan funding	$	1,147,121		$	2,719	0.48	%	$	1,008,229		$	7,268	1.45	%

¹ Includes loans held-for-sale
² Amounts calculated on a fully taxable equivalent basis using the current statutory federal tax rate


COMPONENTS OF YIELD ON LOANS (Unaudited) - Table 15
(Dollars in thousands)

	Six Months Ended
	June 30, 2021				June 30, 2020
	Amount		Yield		Amount		Yield

Contractual yield	$	24,818	4.29	%	$	24,023	4.93	%
SBA discount accretion		1,765	0.30	%		1,852	0.38	%
Prepayment penalties & late fees		210	0.04	%		130	0.03	%
Amortization of net deferred costs		1,382	0.24	%		192	0.04	%
As reported yield on loans	$	28,175	4.87	%	$	26,197	5.38	%

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CBB Bancorp, Inc. Reports Second Quarter 2021 Financial Results

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