4th Quarter and Year-end 2020 Highlights:

CHECKPOINT

• Net Income increased 71.3% in 4Q20 compared to 4Q19. In 4Q19, non-recurring computer conversion charges reduced net income and distorted the year over year comparison. Net income for the year 2020 was up 22.0% when compared to 2019.

• Net Revenue for 4Q20 grew 2.0% compared to 4Q19 and grew 4.2% year over year.

• Non-Interest Income for the quarter was up 15.6% compared to 4Q19 and up 7.1% for the year 2020.

• Average Loans increased 11.9% compared to 4Q19 and 10.6% for the year 2020.

• Average Deposits grew 36.0% compared to 4Q19 and 21.6% for the year.

• Average Non-Interest-Bearing Demand Deposits were up 47.8% compared to 4Q19 and 45.9% for 2020.

• Asset Quality remained strong with a 1.45% Allowance for Losses on Loans and Leases as a Percent of Total Loans at

  December 31, 2020. A provision for loan losses of $645,000 was added during 2020 to support loan growth.

• Fully Diluted Earnings per Share for 2020 increased 19.9% to $1.41.

• Fully Diluted Book Value per Share was $14.30 at year-end, up 11.1% from December 31, 2019.

  AB&T’s trend of growing net income and earnings per share continued throughout 2020 even in the face of the COVID-19 pandemic that emerged in February. Net Income for the year climbed 22.0% to $1.773 million and resulted in fully diluted earnings per share of $1.41, up from $1.18 in 2019. This improvement in net income was accomplished even as the Bank provided $645,000 to the Allowance for Losses on Loans and Leases during the year.

  For 2020, Average Loans were up 10.6% compared to 2019 and Average Deposits grew 21.6%. In addition, Average Non- Interest-Bearing Deposits grew 45.9% during the year which helped hold down funding costs. The growth in loans and deposits was fueled by the Bank’s active participation in the Paycheck Protection Program (PPP) which was created by Congress to mitigate the economic effects of the COVID-19 pandemic.

  The Bank’s asset quality also remained strong, with Non-Performing Assets as a Percent of Total Assets standing at only 0.05% at year-end. The Bank’s Allowance for Losses on Loans and Leases as a Percent of Total Loans at year-end was 1.45%. The Bank realized net recoveries of .03% of Total Loans during 2020.

  The Bank also experienced growth in Capital during the year and ended 2020 with a Tier 1 Leverage Ratio of 7.85%, and a Total Capital Ratio of 12.57%.

  As of December 31, 2020, the Bank reported Fully Diluted Book Value per Share of $14.30.

  Even though 2020 was a year like none other, AB&T continued on its path toward providing superior financial returns to shareholders. The Bank was an active participant in PPP, producing more than $27 million in loans to help customers weather the severe economic consequences of the pandemic. The Bank’s ability to efficiently and effectively implement PPP is a testament to the ingenuity and capacity of our associates, who worked relentlessly to bring these benefits to bear. Their efforts during these extraordinarily difficult times not only reflect the Bank’s commitment to operational excellence but also to its clients and community.

  Even as we continue to deal with uncertainty around the ongoing pandemic, all of our efforts remain focused on realizing our vision of becoming the Gold Standard of community banking.