The document summarizes key trends in the Colorado banking environment over the past 5 years and provides projections for 2014. Specifically, it notes that from 2008-2013: - The number of bank branches in Colorado decreased 1.2% annually on average while deposits per branch grew 6.2% per year - Most M&A activity involved smaller Colorado banks under $100M in assets For 2014, it predicts continued consolidation in the industry, loan growth, higher compliance costs, further branch closures, and advancing technology.

1. “In general, the environment for banking in
the next five to ten years is likely to remain
favorable.”
Source: “Future of Banking in America”, FDIC Banking Review, Volume 16, No, 1
1

2. “In general, the environment for banking in
the next five to ten years is likely to remain
favorable.”
Source: “Future of Banking in America”, FDIC Banking Review, Volume 16, No, 1
2004
2

3. Number of Banks
14,000
12,000
12,000
10,000
10,000
8,000
8,000
6,000
6,000
4,000
4,000
2,000
Number of Banks
14,000
2,000
0
0
Asset Size
<$250 million
Note: Date includes only commercial banks
$250 million - $1 billion
$1 billion - $10 billion
>$10 billion
3
Data compiled by: St. Charles Capital, LLC Source: SNL Financial

4. 2013 Colorado Deposit Market Share
Super
Community
Banks
20.1%
Out-of-State
Banks
68.4%
Community
Banks
5.2%
Small
Community
Banks
6.4%
Community Banks
2013
Total
Deposits
2008
Total
Deposits
5 - Year
Deposit
CAGR
2013
Number
of Branches
2013
Deposits
per Branch
Out-of-State Banks
$72,260,486
$52,142,050
6.74%
1,027
$70,361
Super Community Banks
$21,197,674
$17,207,080
4.26%
272
$77,933
Community Banks
$5,506,562
$4,064,056
6.26%
98
$56,189
Small Community Banks
$6,711,448
$5,476,706
4.15%
176
$38,133
6.02%
1,573
$67,181
Total
$105,676,170
$78,889,892
(1)
4
(1) Total includes closures, liquidations and other transactions
Note: 2008 segmentation was determined based upon 2013 financial data
Data compiled by: St. Charles Capital, LLC Source: SNL Financial

5. Deposit Market Share for Top 20 Institutions
Top five financial institutions account for 59.0% of the state’s deposits
Market share for the top five financial institutions is up from 2008 (51.4%)
Colorado based banks represents 31.6% of the state’s deposits
2013
Institution
Parent Company
2008
Parent
State
Rank
Active
Branches
Out-of-State Bank
CA
1
170
$25,780,962
24.4%
7.1%
186
$18,324,085
Super Community Bank
CO
2
101
$11,259,690
10.7%
8.0%
120
$7,655,933
Classification
Deposits
(in 000s)
Market
Share
5 Year
Compound
Annual Deposit
Growth Rate
Active
Branches
Deposits
(in 000s)
Wells Fargo Bank NA
Wells Fargo & Company
FirstBank
FirstBank Holding Company
JPMorgan Chase Bank NA
JPMorgan Chase & Co.
Out-of-State Bank
NY
3
121
$11,073,657
10.5%
16.7%
128
$5,126,935
U.S. Bank NA
U.S. Bancorp
Out-of-State Bank
MN
4
162
$10,561,380
10.0%
10.2%
149
$6,484,294
Bank of the West
BNP Paribas SA
Out-of-State Bank
CA
5
82
$3,633,230
3.4%
4.0%
93
$2,984,695
KeyBank NA
KeyCorp
Out-of-State Bank
OH
6
68
$2,676,321
2.5%
(1.7%)
50
$2,913,833
Vectra Bank Colorado NA
Zions Bancorporation
Out-of-State Bank
UT
7
38
$2,154,510
2.0%
4.9%
40
$1,692,145
Compass Bank
Banco Bilbao Vizcaya Argentaria, SA
Out-of-State Bank
AL
8
38
$1,971,448
1.9%
15.3%
33
$968,788
First National Bank of Omaha
Lauritzen Corporation
Alpine Bank
Alpine Banks of Colorado
Bank of Colorado
Pinnacle Bancorp, Inc.
CoBiz Bank
CoBiz Financial Inc.
Colorado Federal Savings Bank
Silver Queen Financial Services, Inc.
Guaranty Bank and Trust Co.
Guaranty Bancorp
Colorado State Bank & Trust
BOK Financial Corporation
NBH Bank NA
National Bank Holdings Corporation
ANB Bank
Sturm Financial Group, Inc.
UMB Bank NA
UMB Financial Corporation
Citywide Banks
Citywide Banks of Colorado, Inc.
TCF National Bank
TCF Financial Corporation
Total for Market:
Out-of-State Bank
NE
9
26
$1,927,932
1.8%
(1.5%)
28
$2,081,353
Super Community Bank
CO
10
39
$1,925,101
1.8%
(2.5%)
39
$2,181,867
Out-of-State Bank
NE
11
34
$1,903,074
1.8%
5.5%
37
$1,459,321
Super Community Bank
CO
12
11
$1,637,814
1.5%
5.3%
13
$1,265,585
Super Community Bank
CO
13
1
$1,461,501
1.4%
77.3%
1
$83,373
Super Community Bank
CO
14
27
$1,454,158
1.4%
(3.2%)
36
$1,708,185
Out-of-State Bank
OK
15
13
$1,363,857
1.3%
5.2%
17
$1,060,526
Super Community Bank
CO
16
56
$1,318,885
1.2%
(10.3%)
61
$2,272,743
Super Community Bank
CO
17
25
$1,168,318
1.1%
(0.9%)
26
$1,221,266
Out-of-State Bank
MO
18
12
$1,087,345
1.0%
11.3%
17
$635,365
Super Community Bank
CO
19
12
$972,207
0.9%
3.5%
15
$818,128
Out-of-State Bank
MN
20
37
$912,959
0.9%
11.8%
47
$522,284
1,573
$105,676,170
6.02%
1,655
$78,889,892
Data Compiled by St. Charles Capital, LLC Source: SNL Financial (retail deposit market share as of June 30, 2013)
5

6. Profitability
Return on Average Assets
Super Community Banks
Community Banks
Small Community Banks
All U.S. Commercial Banks Average
YTD 9/30/13
0.99%
0.67%
0.58%
1.07%
2012
0.96%
0.46%
0.53%
2011
1.20%
0.01%
0.31%
2010
0.65%
(0.05%)
0.03%
1.02%
0.91%
0.65%
2012
8.76%
4.61%
4.90%
2011
12.10%
0.05%
2.95%
2010
8.79%
(0.55%)
0.31%
9.06%
8.11%
5.94%
2012
3.77%
3.68%
3.85%
2011
4.07%
3.87%
3.98%
2010
5.26%
3.82%
3.93%
3.36%
3.52%
3.63%
2012
63.2%
82.4%
79.1%
2011
57.6%
81.1%
70.4%
2010
58.8%
77.3%
71.2%
61.4%
60.7%
56.7%
Return on Average Equity
Super Community Banks
Community Banks
Small Community Banks
All U.S. Commercial Banks Average
YTD 9/30/13
9.27%
6.76%
5.41%
9.51%
Net Interest Margin
Super Community Banks
Community Banks
Small Community Banks
All U.S. Commercial Banks Average
YTD 9/30/13
3.53%
3.57%
3.70%
3.20%
Efficiency Ratio
Super Community Banks
Community Banks
Small Community Banks
All U.S. Commercial Banks Average
YTD 9/30/13
63.2%
77.6%
78.1%
60.1%
6
Data Compiled by: St. Charles Capital, LLC Source: SNL Financial

7. Profitability by Segment
Loan Composition
As of 9/30/2013
Super Community Banks
Community Banks
Small Community Banks
All U.S. Commercial Banks Average
Loa
5 Year Loan
Compound
Annual Growth
Rate
13.59%
1.24%
(0.77%)
0.64%
Construction &
Land Commercial Real
Development/
Estate/
Total Loans
Total Loans
7.40%
29.32%
10.43%
36.65%
7.30%
29.81%
2.68%
13.92%
Real Estate/
Total Loans
85.90%
75.33%
78.32%
49.17%
Commercial &
Industrial/
Total Loans
9.82%
15.48%
10.14%
18.24%
Asset Quality
As of 9/30/2013
Super Community Banks
Community Banks
Small Community Banks
All U.S. Commercial Banks Average
Non-Performing Non-Performing
Loans/
Assets/
Total Loans
Total Assets
1.28%
1.12%
2.44%
2.82%
2.05%
2.47%
2.85%
1.72%
Loan Reserves/
Loan Reserves/ Non-Performing
Total Loans
Loans
1.43%
111.29%
1.81%
74.36%
1.80%
87.72%
1.86%
65.17%
YTD NCOs/
Ave. Loans
0.16%
0.40%
0.23%
0.80%
Deposit Composition
As of 9/30/2013
Super Community Banks
Community Banks
Small Community Banks
All U.S. Commercial Banks Average
Depo
5 Year Deposit
Compound
Annual Growth
Rate
23.38%
7.33%
4.76%
5.62%
Non-Interest
Bearing
Deposits/Total
Deposits
28.22%
22.00%
20.72%
25.38%
Time
Deposits/Total
Deposits
17.34%
27.02%
33.61%
13.92%
Brokered
Deposits/Total Cost of Interest
Deposits Bearing Deposits
1.11%
0.33%
4.86%
0.46%
1.25%
0.54%
6.39%
0.40%
7
Data Compiled by: St. Charles Capital, LLC Source: SNL Financial

8. Branch Statistics
The number of branches in Colorado decreased at a compound annual growth rate (“CAGR”) of 1.2% over the past five
years, while average deposits per branch grew at a CAGR of 6.2% over the same time period.
$67,181
$58,635
$60,000
$50,000
$49,785
$51,680
$61,276
2,000
1,800
$54,823
1,600
1,400
1,200
$40,000
1,000
$30,000
800
600
$20,000
Number of Branches
Average Deposits per Branch ($000s)
$70,000
400
$10,000
200
$0
0
2008
2009
2010
Average Deposits per Branch
2011
2012
2013
Total Branches
8
Note: Branch count data as of June 30. Includes active / closed and retail / non-retail branches
Source: FDIC Deposit Market Share Report

9. Colorado M&A Activity
Colorado Transactions by Market Type(1) (1/1/2008 – 9/30/2013)
Denver Metro
4
Metro
9
Rural
5
Colorado Transactions by Asset Size (1/1/2008 – 9/30/2013)
Greater than
$500M
2
$100M to
$500M
6
Less than
$100M
14
Micro
4
(1)Metro
market: at least one urban area with population of 50,000 or more; Micro market: at least one urban area with population between 10,000 and 50,000; Rural market: no urban areas with population
greater than 10,000
9
Source: SNL Financial

10. Trends for 2014
Continued consolidation
Net new loan growth
Increased compliance/regulatory costs
Decrease in the number of bank branches
Continued technology advancements
10