Investor Presentation September 2019 Forward Looking Statements - PowerPoint PPT Presentation

Investor Presentation September 2019

Forward Looking Statements Where to Find Additional Information In addition to historical information, certain matters set forth herein constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including forward-looking statements relating to management’s beliefs, projections and assumptions concerning future results and events. Forward-looking statements, include descriptions of management’s plans or objectives for future operations, products or services, and forecasts of the Company’s revenues, earnings or other measures of economic performance. These forward-looking statements involve risks and uncertainties and are based on the beliefs and assumptions of management and on the information available to management at the time that this presentation was prepared and can be identified by the fact that they do not relate strictly to historical or current facts. They often include the words or phrases such as “aim,” “can,” "may," "could," "predict," "should," "will," "would," "believe," "anticipate," "estimate," "expect," “hope,” "intend," "plan," "potential," ‘project,” "will likely result," "continue," "seek," “shall,” “possible,” "projection," “optimistic,” and "outlook," and variations of these words and similar expressions or the negative version of those words or phrases. Forward looking statements involve substantial risks and uncertainties, many of which are difficult to predict and are generally beyond our control. There are many factors that could cause actual results to differ materially from those contemplated by these forward-looking statements. The Company does not undertake, and specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences or unanticipated events or circumstances after the date of such statements except as required by law. Any statements about future operating results, such as those concerning accretion and dilution to the Company's earnings or shareholders, are for illustrative purposes only, are not forecasts, and actual results may differ. Risks and uncertainties that could cause our financial performance to differ materially from our goals, plans, expectations and projections expressed in forward-looking statements include those set forth in our filings with the SEC, including under Item 1A of our Annual Report on Form 10-K for the fiscal year ended December 31, 2018. 2 Second Quarter of 2019

Corporate Overview Where to Find Additional Information First Choice Bancorp Market Footprint • First Choice Bank w as founded in 2 0 0 5 • First Choice Bank underw ent a bank holding com pany reorganization and becam e a w holly-ow ned subsidiary of First Choice Bancorp on Decem ber 2 1 , 2 0 1 7 . • Full service com m ercial bank serving m arkets throughout Southern California • 9 branches and 2 loan production offices 1 7 th largest publicly-traded bank headquartered in Southern • California • Evolved from an Asian-Am erican focused bank to becom e a m ainstream bank • Strong com m itm ent to relationship banking Estim ated Financial Highlights Total assets 1 : Approx. $ 1 .7 billion Total loans held for investm ent 1 : Approx. $ 1 .3 billion Total deposits 1 : Approx. $ 1 .3 billion Adjusted ROAA 2 : 1 .6 2 % ( FY 2 0 1 8 ) ; 1 .8 0 % ( YTD 2 0 1 9 ) Adjusted ROAE 2 : 1 1 .5 1 % ( FY 2 0 1 8 ) ; 1 1 .1 5 % ( YTD 2 0 1 9 ) Dividend yield: 3 .5 6 % ( as of 7 / 1 7 / 1 9 ) 1. As of June 30, 2019 2. Excludes merger, integration and public company registration expenses; see non-GAAP reconciliation in the appendix 3 Second Quarter of 2019

Investment Highlights Where to Find Additional Information • Grow ing presence in attractive Southern California m arkets • Dem onstrated ability to generate strong organic balance sheet grow th • Above peer group net interest m argin benefiting from increases in prevailing interest rates • Proven track record of outstanding asset quality • Highly accretive acquisition expected to drive strong earnings grow th in 2 0 1 9 • Recent developm ents enhancing m arketability of stock  I ncreased m arket cap resulting from m erger  NASDAQ listing in May 2 0 1 8  Addition to Russell I ndexes in June 2 0 1 8  I nitial sell-side analyst coverage ( Hovde) in August 2 0 1 8 4 Second Quarter of 2019

2Q19 Financial Highlights continued Where to Find Additional Information • Net incom e of $ 6 .8 m illion, or $ 0 .5 8 per diluted share • ROAA of 1 .7 3 % and ROAE of 1 0 .8 6 % ( annualized) • Total loans increased $ 6 2 .4 m illion over the prior quarter, or 1 9 .6 % annualized • Noninterest-bearing deposits represented 4 3 .6 % of total deposits • NI M decreased 3 6 bps to 5 .1 4 % due to low er discount accretion, low er prepaym ent penalties and higher funding costs • Efficiency ratio of 5 0 .1 % • Annualized net recoveries of 0 .0 2 % of average loans 5 Second Quarter of 2019

Experienced Management Team Where to Find Additional Information Years in FCB Executive Position Background Banking Tenure • CEO of PacTrust Bank Robert Franko President & CEO 30+ 6 • CEO of Beach Business Bank • CFO of Commercial Bank of California Started Lynn Hopkins Chief Financial Officer • Chief Accounting Officer of PacWest 25+ in Sep. Bancorp 2018 Various management positions at: • Torrey Pines Bank Gene May Chief Credit Officer 30+ 8 • Pacific Western Bank • First Pacific Bancorp • Part of original founding team of First Chief Operations Yolanda Su Choice Bank 30+ 14 Administrator • SVP at First Continental Bank • Partner, Duane Morris, LLP Started Khoi Dang General Counsel • Partner, Horgan, Rosen, Beckham & 13+ in Mar. Coren 2019 6 Second Quarter of 2019

Pacific Commerce Bancorp Acquisition Where to Find Additional Information Key Highlights Branch Overview • Com pleted July 3 1 , 2 0 1 8 • Added scale that is driving operational efficiencies • Expands presence in Southern California and provides grow th opportunities in new m arkets • Extends footprint to San Diego • Further diversifies custom er base and loan portfolio • I m proves FCB’s ability to com pete for custom ers and banking talent • Core system conversion com pleted in Septem ber 2 0 1 8 Financial I m pact • Approxim ately 1 4 .8 % EPS accretion in 2 0 1 9 ( first full year of cost savings) • TBV per share dilution payback period of 3 .3 years ( crossover m ethod) • PCB provided strong base of low -cost funding ( approxim ately 5 5 % noninterest-bearing deposits) • Provided excess liquidity that low ered loan-to-deposit ratio and provided funding for future loan grow th Second Quarter of 2019 7

Major Lines of Business Where to Find Additional Information Size Custom er and Market Focus/ Portfolio Data ( as of 6 / 3 0 / 1 9 )  Well-diversified portfolio across property types  $ 4 0 4 m illion Com m ercial investor-ow ned  Strong niche in hospitality; BOD serves as a significant source of Real Estate  referrals $ 1 8 0 m illion ow ner-occupied  Avg. yield of 6.09% . No non-performing CRE Loans at 6/ 30/ 19.  Well diversified portfolio across customer types from Com m ercial and manufacturers to distributors and professionals  $ 3 3 3 m illion I ndustrial  Avg. yield of 6.12% ; NPL/ Total C&I Loans of 0.07% at 6/ 30/ 19.  Residential construction primarily related to coastal properties where valuations are supported by supply constraints and strong  demand $ 1 6 8 m illion Construction construction  Prime-based loans with maturities of less than three years and Land  $ 2 8 m illion land  Avg. yield of 7.59% . No non-performing Construction Loans at 6/ 30/ 19.  Preferred SBA Lender; new funding of $33 million during 1H19.  $ 1 7 1 m illion SBA  All loan officers originate SBA loans  Average gain-on-sale margin of approximately 8% over the net carrying value in 2Q19  Avg. yield of 7.24% ; NPL/ Total SBA Loans of 1.42% at Second Quarter of 2019 8 6/ 30/ 19.

Track Record of Solid Profitability Where to Find Additional Information Addition of PCB positively im pacting ROAA and ROAE Adjusted Return on Average Assets Adjusted Return on Average Shareholders’ Equity 2.0% 12.0% 1.80% 11.51% 11.15% Annualized Annualized 1.62% 10.0% 1.5% 8.57% 8.0% 6.96% 1.02% 1.0% 0.83% 6.0% 4.0% 0.5% 2 2 1 3 1 3 2016 2017 2018 2019 2016 2017 2018 2019 1. Represents First Choice Bank for 2016. First Choice Bank completed a bank holding company reorganization and became a wholly-owned subsidiary of First Choice Bancorp in December 2017. 2. FY 2018 excludes merger, integration and public company registration expenses; see non-GAAP reconciliation in the appendix. 3. For the six months ended June 30, 2019. 9 Second Quarter of 2019