GlobeNewswire Inc | Jul 23, 2020 04:10PM EDT

July 23, 2020

ATLANTA, July 23, 2020 (GLOBE NEWSWIRE) -- Atlantic Capital Bancshares, Inc. (NASDAQ: ACBI) announced net income from continuing operations for the quarter ended June 30, 2020 of $1.8 million, or $0.09 per diluted share, compared to $7.0 million, or $0.29 per diluted share, for the second quarter of 2019 and $2.1 million, or $0.10 per diluted share, for the first quarter of 2020.

With solid growth in loans and deposits, a significant decline in deposit costs, and disciplined expense management, Atlantic Capital grew earnings before taxes and provision for potential credit losses at a strong pace from the first quarter of 2020 and from the second quarter of 2019. These solid operating results, along with another substantial addition to the allowance for credit losses, further buttress Atlantic Capitals fortress balance sheet for the uncertain economic environment ahead. As the second quarter progressed, our borrowers generally reported improved business results and are cautiously optimistic about the remainder of 2020, remarked Douglas Williams, President and Chief Executive Officer.

Second Quarter Highlights(1)

-- Capital ratios remained strong, with a tangible common equity to tangible assets ratio of 11.0% and total risk-based capital ratio of 14.8%. -- Tangible book value per share increased to $14.72 from $14.54 at March 31, 2020. -- Total loans held for investment increased $251.8 million, or 52.1% annualized, from March 31, 2020. Included in the increase are $234 million in SBA Paycheck Protection Program (PPP) loans. -- Average deposits from continuing operations increased $155.4 million, or 27.6% annualized, compared to the first quarter of 2020. -- Cost of deposits from continuing operations decreased to 0.22% from 0.75% in the first quarter of 2020. -- Efficiency ratio improved to 53.8% compared to 55.0% in the first quarter of 2020. -- Allowance for credit losses increased to 1.61% of loans held for investment compared to 1.43% at March 31, 2020. Excluding the impact of PPP loans, the allowance for credit losses at June 30, 2020 was 1.80% of total loans held for investment.

Income Statement

Taxable equivalent net interest income from continuing operations totaled $22.0 million for the second quarter of 2020, an increase of $2.0 million, or 10.1%, from the second quarter of 2019, and an increase of $782,000, or 14.8% annualized, from the first quarter of 2020. The linked quarter increase in net interest income was primarily driven by the addition of the PPP loans during the second quarter.

Taxable equivalent net interest margin from continuing operations was 3.23% in the second quarter of 2020, a decrease of 38 basis points from the second quarter of 2019 and a decrease of 18 basis points from the first quarter of 2020. The linked quarter decrease was primarily the result of a decrease in loan yields and the addition of the lower yielding PPP loans, partially offset by a decrease in the cost of interest bearing deposits. The PPP loans had an adverse impact of approximately 14 basis points on the net interest margin for the second quarter of 2020.

The yield on loans from continuing operations in the second quarter of 2020 was 3.87%, a decrease of 147 basis points from the second quarter of 2019 and a decrease of 90 basis points from the first quarter of 2020. The decrease in loan yields was due primarily to the repricing of variable rate loans from declines in short term interest rates and the addition of lower yielding PPP loans. The PPP loans had an adverse impact of approximately 22 basis points on loan yields for the second quarter of 2020.

The cost of deposits from continuing operations in the second quarter of 2020 was 0.22%, a decrease of 93 basis points from the second quarter of 2019 and a decrease of 53 basis points from the first quarter of 2020. The cost of interest bearing deposits from continuing operations decreased 133 basis points to 0.33% from the second quarter of 2019, and decreased 76 basis points from the first quarter of 2020.

(1) Commentary is on a fully taxable-equivalent basis unless otherwise noted. Consistent with SEC guidance in Industry Guide 3 that contemplates the calculation of tax-exempt income on a tax equivalent basis, net interest income and net interest margin are provided on a fully taxable-equivalent basis, which generally assumes a 21% marginal tax rate. We provide detailed reconciliations in the Non-GAAP Performance and Financial Measures Reconciliation table on page 13.

The provision for credit losses for continuing operations was $8.9 million in the second quarter of 2020 compared to $698,000 in the second quarter of 2019 and $8.1 million in the first quarter of 2020. The provision for credit losses in the second quarter of 2020 included an $8.2 million provision for loan losses and a $642,000 provision for unfunded commitments. Annualized net charge-offs were 0.29% of average loans in the second quarter of 2020 and 0.17% for the first six months of 2020.

Noninterest income from continuing operations totaled $2.3 million in the second quarter of 2020 compared to $2.9 million in the second quarter of 2019 and $2.4 million in the first quarter of 2020. Service charge income in the second quarter of 2020 totaled $1.1 million, an increase of $211,000 compared to the second quarter of 2019 and a decrease of $151,000 from the first quarter of 2020. The linked-quarter decrease in service charge income was primarily due to the COVID-19 related impact on ACH volumes in our payments business. SBA income totaled $768,000, a decrease from $1.10 million in the second quarter of 2019 and an increase from $414,000 in the first quarter of 2020, primarily from an increase in loans sold during the second quarter of 2020.

Noninterest expense from continuing operations totaled $12.9 million in the second quarter of 2020, a decrease of $350,000 compared to the second quarter of 2019 and unchanged compared to the first quarter of 2020. Salaries and employee benefits totaled $8.5 million in the second quarter of 2020, unchanged from the previous quarter as the seasonal decrease in first quarter benefits costs were offset by higher salaries and an increase in incentive accruals. Approximately $293,000 in incentive expense was incurred in the second quarter of 2020 related to COVID-19 pay for employees.

The year-to-date 2020 effective tax rate from continuing operations was 14.7% compared to 21.3% for the full year of 2019, and was impacted by lower pretax earnings as well as increased non-taxable securities income from municipal bonds.

Balance Sheet

Total loans held for investment were $2.18 billion at June 30, 2020, an increase of $395.0 million, or 22.0%, from June 30, 2019 and an increase of $251.8 million, or 52.1% annualized, from March 31, 2020. Excluding the $234.0 million in PPP loans funded during the second quarter of 2020, loans held for investment increased $17.7 million, or 3.7% annualized. Consumer loans increased $55.0 million from March 31, 2020 to $113.1 million at June 30, 2020, due to the growth in a partnership with a fintech firm that offers CD-secured loans to its customers.

The allowance for credit losses was 1.61% of total loans held for investment at June 30, 2020, compared to 1.43% at March 31, 2020. Excluding the impact of PPP loans, the allowance for credit losses at June 30, 2020 was 1.80% of total loans held for investment. Non-performing assets totaled $7.2 million, or 0.25% of total assets, as of June 30, 2020, compared to $7.3 million, or 0.27% of total assets, as of March 31, 2020.

Total average deposits from continuing operations were $2.41 billion for the second quarter of 2020, an increase of $507.9 million, or 26.7%, from the second quarter of 2019 and an increase of $155.5 million, or 27.6% annualized, from the first quarter of 2020. Noninterest bearing deposits were 33.8% of total average deposits from continuing operations in the second quarter of 2020, compared to 30.9% in the second quarter of 2019 and 31.6% in the first quarter of 2020.

Tangible common equity to tangible assets was 11.0% at June 30, 2020, a decrease from 11.6% at March 31, 2020 due to the increase in PPP loans in the second quarter. The estimated total risk based capital ratio was 14.8% at June 30, 2020 compared to 16.5% at June 30, 2019 and 14.9% at March 31, 2020.

Earnings Conference Call

The Company will host a conference call at 9:00 a.m. EST on Friday, July 24, 2020, to discuss the financial results for the quarter ended June 30, 2020. Individuals wishing to participate in the conference call may do so by dialing 877-270-2148 from the United States. The call will also be available live via webcast on the Investor Relations page of the Company's website, www.atlanticcapitalbank.com. A presentation will be used during the earnings conference call and is available at http://www.snl.com/IRW/CorporateProfile/4155740.

Non-GAAP Financial Measures

Statements included in this press release include non-GAAP financial measures and should be read along with the accompanying tables, which provide a reconciliation of non-GAAP financial measures to GAAP financial measures. Atlantic Capital management uses non-GAAP financial measures, including: (i) taxable equivalent interest income; (ii) taxable equivalent net

interest income; (iii) taxable equivalent net interest margin; (iv) taxable equivalent income before income taxes; (v) taxable equivalent income tax expense; (vi) tangible assets; (vii) tangible common equity; (viii) tangible book value per common share; and (ix) allowance for loan losses to loans held for investment excluding PPP loans, in its analysis of the Company's performance. Tangible common equity excludes goodwill and other intangible assets from shareholders' equity.

Management believes that non-GAAP financial measures provide a greater understanding of ongoing performance and operations, and enhance comparability with prior periods. Non-GAAP financial measures should not be considered as an alternative to any measure of performance or financial condition as determined in accordance with GAAP, and investors should consider Atlantic Capitals performance and financial condition as reported under GAAP and all other relevant information when assessing the performance or financial condition of the Company. Non-GAAP financial measures have limitations as analytical tools, and investors should not consider them in isolation or as a substitute for analysis of the results or financial condition as reported under GAAP. Non-GAAP financial measures may not be comparable to non-GAAP financial measures presented by other companies.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements represent plans, estimates, objectives, goals, guidelines, expectations, intentions, projections and statements of our beliefs concerning future events, business plans, objectives, expected operating results and the assumptions upon which those statements are based. Forward-looking statements include without limitation, any statement that may predict, forecast, indicate or imply future results, performance or achievements, and are typically identified with words such as may, could, should, will, would, believe, anticipate, estimate, project, expect, intend, plan, strive, or words or phases of similar meaning. Forward-looking statements may include, among other things, statements about Atlantic Capitals confidence in its strategies and its expectations about financial performance, the impact of COVID-19 on operations, market growth, market and regulatory trends and developments, acquisitions and divestitures, new technologies, services and opportunities and earnings. The forward- looking statements are based largely on Atlantic Capitals expectations and are subject to a number of known and unknown risks and uncertainties that are subject to change based on factors which are, in many instances, beyond Atlantic Capitals control. Atlantic Capital undertakes no obligation to publicly update any forward-looking statement to reflect developments occurring after the statement is made, except as otherwise required by law. Actual results, performance or achievements could differ materially from those contemplated, expressed, or implied by the forward-looking statements as a result of, among other factors, the risks and uncertainties described in Risk Factors and Managements Discussion and Analysis of Financial Condition and Results of Operations in Atlantic Capitals Annual Report on Form 10-K, as supplemented by our Current Report on Form 8- K filed on April 23, 2020, and Quarterly Reports on Form 10-Q. Please refer to the SECs website at www.sec.gov where you can review those documents.

About Atlantic Capital Bancshares

Atlantic Capital Bancshares, Inc. is a $2.9 billion publicly traded bank holding company headquartered in Atlanta, Georgia. Atlantic Capital offers commercial and not-for-profit banking services, specialty corporate financial services, private banking services and commercial real estate finance solutions to privately held companies and individuals in the Atlanta area, as well as specialized financial services for select clients nationally.

Media Contact:

Ashley CarsonEmail: ashley.carson@atlcapbank.comPhone: 404-995-6050

Financial Contact:Patrick OakesEmail: patrick.oakes@atlcapbank.comPhone: 404-995-6050

ATLANTICCAPITAL BANCSHARES,INC.SelectedFinancial Information For the six months ended 2020 2019 June 30, (in thousands,except share Second First Fourth Third Second and per sharedata;taxable Quarter Quarter Quarter Quarter Quarter 2020 2019 equivalent)INCOME SUMMARY ^(1)Interest $ 24,151 $ 26,246 $ 26,699 $ 26,624 $ 26,686 $ 50,397 $ 52,983 income ^(2)Interest 2,166 5,043 5,965 6,536 6,709 7,209 12,482 expenseNet interest 21,985 21,203 20,734 20,088 19,977 43,188 40,501 incomeProvision for 8,863 8,074 787 413 698 16,937 1,512 credit lossesNet interestincome after 13,122 13,129 19,947 19,675 19,279 26,251 38,989 provision forcredit lossesNoninterest 2,343 2,422 2,679 2,769 2,941 4,765 5,277 incomeNoninterest 12,904 12,877 13,382 12,677 13,254 25,781 27,049 expenseIncome fromcontinuingoperations 2,561 2,674 9,244 9,767 8,966 5,235 17,217 before incometaxesIncome tax 712 550 2,104 2,198 1,957 1,262 3,768 expenseNet incomefromcontinuing 1,849 2,124 7,140 7,569 7,009 3,973 13,449 operations^(2)(3)Income (loss)fromdiscontinued ? ? ? 617 22,143 ? 21,080 operations,net of taxNet income $ 1,849 $ 2,124 $ 7,140 $ 8,186 $ 29,152 $ 3,973 $ 34,529 PER SHARE DATA Dilutedearnings pershare - $ 0.09 $ 0.10 $ 0.32 $ 0.33 $ 0.29 $ 0.18 $ 0.55 continuingoperationsDiluted earnings(loss) per share ? ? ? 0.03 0.92 ? 0.86 - discontinuedoperationsDilutedearnings per 0.09 0.10 0.32 0.36 1.21 0.18 1.41 shareBook value per 15.64 15.47 15.01 14.81 14.46 15.64 14.46 shareTangible bookvalue per 14.72 14.54 14.09 13.91 13.60 14.72 13.60 common share ^(3) PERFORMANCE MEASURESReturn on 2.20 % 2.56 % 8.65 % 9.77 % 34.38 % 2.38 % 21.07 %average equityReturn on 0.25 0.32 1.08 1.32 4.79 0.28 2.64 average assetsTaxableequivalent netinterest 3.23 3.41 3.38 3.52 3.61 3.32 3.73 margin -continuingoperationsEfficiencyratio - 53.82 55.03 57.57 55.72 58.06 54.42 59.33 continuingoperationsAverage loansto average 88.46 83.84 86.54 92.41 93.05 86.23 94.82 depositsCAPITAL Average equityto average 11.53 % 12.41 % 12.47 % 13.54 % 13.94 % 11.95 % 12.55 %assetsTangiblecommon equity 11.01 11.57 10.61 12.92 13.37 11.01 13.37 to tangibleassetsTier 1 capital 11.6 ^ 11.7 12.0 12.5 13.4 11.6 ^ 13.4 ratio (4) (4)Total risk ^ ^based capital 14.8 (4) 14.9 15.0 15.5 16.5 14.8 (4) 16.5 ratio SHARES OUTSTANDINGNumber ofcommon shares 21,477,631 21,479,986 21,751,026 22,193,761 23,293,465 21,477,631 23,293,465 outstanding -basicNumber ofcommon shares 21,569,050 21,675,934 21,974,959 22,405,141 23,508,442 21,569,050 23,508,442 outstanding -dilutedAverage numberof common 21,472,462 21,689,038 21,876,487 22,681,904 23,888,381 21,580,855 24,369,106 shares - basicAverage numberof common 21,535,040 21,842,175 22,053,907 22,837,531 24,040,806 21,688,712 24,527,392 shares -diluted ASSET QUALITY Allowance forcredit losses to 1.61 % 1.43 % 1.04 % 1.03 % 1.06 % 1.61 % 1.06 %loans held forinvestment ^(5)Netcharge-offs to 0.29 0.04 0.07 0.11 0.14 0.17 0.12 average loans^(6)Non-performingassets to 0.24 0.27 0.26 0.29 0.31 0.24 0.31 total assets AVERAGE BALANCESTotal loans -continuing $ 2,131,847 $ 1,890,184 $ 1,857,736 $ 1,801,629 $ 1,769,803 $ 2,011,016 $ 1,708,549 operationsInvestment 462,850 417,971 389,667 340,872 360,047 440,410 379,964 securitiesTotal assets 2,932,716 2,686,266 2,626,388 2,453,438 2,440,502 2,809,491 2,633,713 Deposits -continuing 2,409,958 2,254,505 2,146,626 1,949,657 1,902,076 2,332,231 1,801,874 operationsShareholders' 338,027 333,480 327,543 332,291 340,119 335,754 330,519 equity AT PERIOD END Loans andloans held for $ 2,185,847 $ 1,932,909 $ 1,873,524 $ 1,836,589 $ 1,789,740 $ 2,185,847 $ 1,789,740 saleInvestment 457,749 466,405 399,433 329,648 348,723 457,749 348,723 securitiesTotal assets 2,890,622 2,719,658 2,910,379 2,410,198 2,389,680 2,890,622 2,389,680 Deposits 2,407,631 2,225,119 2,499,046 1,854,272 1,851,531 2,407,631 1,851,531 Shareholders? 335,980 332,300 326,495 328,711 336,715 335,980 336,715 equity ^(1)On April 5, 2019, Atlantic Capital completed the sale to FirstBank of itsTennessee and northwest Georgia banking operations, including 14 branches andthe mortgage business. The mortgage business and branches soldto FirstBank are reported as discontinued operations.^(2)Interest income on tax-exempt securities has been increased to reflectcomparable interest on taxable securities. The rate used was 21%, reflectingthe statutory federal income tax rate.^(3)Excludeseffect ofacquisition relatedintangibles.^(4)Amountsare estimates as of June 30,2020.^(5)The ratios for the second and third quartersof 2019 are calculated on a continuing operations basis.^(6) Annualized.

ATLANTICCAPITAL BANCSHARES,INC.FinancialInformationfrom DiscontinuedOperations Components ofNet Income from DiscontinuedOperations For the six months ended 2020 2019 June 30, Second First Fourth Third Second (in thousands) Quarter Quarter Quarter Quarter Quarter 2020 2019Net interest $ ? $ ? $ ? $ ? $ (39 ) $ ? $ 3,086 (loss) incomeProvision for ? ? ? ? ? ? ? credit lossesNet interest(loss) income ? ? ? ? (39 ) ? 3,086 afterprovisionService ? ? ? ? 46 ? 527 chargesMortgage ? ? ? ? ? ? 288 incomeGain on sale ? ? ? ? 34,475 ? 34,475 of branchesOther income ? ? ? ? (22 ) ? (1 )Totalnoninterest ? ? ? ? 34,499 ? 35,289 incomeSalaries andemployee ? ? ? ? 330 ? 2,757 benefitsOccupancy ? ? ? ? 71 ? 410 Equipment and ? ? ? ? 8 ? 131 softwareAmortization ? ? ? ? ? ? 247 of intangiblesCommunicationsand data ? ? ? ? 197 ? 586 processingDivestiture ? ? ? ? 3,646 ? 5,095 expenseOthernoninterest ? ? ? ? 101 ? 459 expenseTotalnoninterest ? ? ? ? 4,353 ? 9,685 expenseNet incomebefore ? ? ? ? 30,107 ? 28,690 provision forincome taxes(Benefit)provision for ? ? ? (617 ) 7,964 ? 7,610 income taxesNet incomefrom $ ? $ ? $ ? $ 617 $ 22,143 $ ? $ 21,080 discontinuedoperations

ATLANTIC CAPITAL BANCSHARES, INC.ConsolidatedBalance Sheets (unaudited) June30, March31, December31, June30,(in thousands, 2020 2020 2019 2019 except share data)ASSETS Cash and due from $ 33,759 $ 27,536 $ 45,249 $ 24,206 banksInterest-bearing 33,038 114,829 421,079 52,932 deposits in banksCash and cash 66,797 142,365 466,328 77,138 equivalentsInvestmentsecurities 271,829 280,390 282,461 348,723 available for saleInvestmentsecurities held tomaturity, net ofallowance forcredit losses of 185,920 186,015 116,972 ? $13 and $14 at June30, 2020 and March31, 2020,respectivelyOther investments 28,811 27,140 27,556 31,912 Loans held for sale 1,153 ? 370 ? Loans held for 2,184,694 1,932,909 1,873,524 1,789,740 investmentLess: allowance for (31,605 ) (24,896 ) (18,535 ) (18,186 )loan lossesLoans held for 2,153,089 1,908,013 1,854,989 1,771,554 investment, netPremises and 22,494 22,533 22,536 20,037 equipment, netBank owned life 67,127 66,761 66,421 65,874 insuranceGoodwill -continuing 19,925 19,925 19,925 19,925 operationsOther intangibles, 2,731 2,785 3,027 3,095 netOther real estate 779 779 278 971 ownedOther assets 69,967 62,952 49,516 50,451 Total assets $ 2,890,622 $ 2,719,658 $ 2,910,379 $ 2,389,680 LIABILITIES ANDSHAREHOLDERS? EQUITYDeposits: Noninterest-bearing $ 883,662 $ 712,919 $ 824,646 $ 569,693 demandInterest-bearing 449,737 368,463 373,727 309,709 checkingSavings 583 567 1,219 1,090 Money market 879,863 982,109 1,173,218 802,973 Time 131,353 66,793 44,389 33,902 Brokered deposits 62,433 94,268 81,847 134,164 Total deposits 2,407,631 2,225,119 2,499,046 1,851,531 Federal funds 6,000 75,000 ? 35,000 purchasedFederal Home Loan 50,000 ? ? 82,000 Bank borrowingsLong-term debt 49,958 49,916 49,873 49,789 Other liabilities 41,053 37,323 34,965 34,645 Total liabilities 2,554,642 2,387,358 2,583,884 2,052,965 SHAREHOLDERS? EQUITYPreferred stock, nopar value;10,000,000 sharesauthorized; noshares issued and ? ? ? ? outstanding as ofJune30,2020,March31,2020,December31,2019,and June30,2019Common stock, nopar value;100,000,000 sharesauthorized;21,477,631,21,479,986,21,751,026, and23,293,465 shares 224,520 224,233 230,265 256,791 issued andoutstanding as ofJune30,2020,March31,2020,December31,2019,and June30,2019,respectivelyRetained earnings 95,570 93,721 91,669 76,343 Accumulated othercomprehensive 15,890 14,346 4,561 3,581 income (loss)Total shareholders? 335,980 332,300 326,495 336,715 equityTOTAL LIABILITIESAND SHAREHOLDERS? $ 2,890,622 $ 2,719,658 $ 2,910,379 $ 2,389,680 EQUITY

ATLANTIC CAPITAL BANCSHARES, INC.Consolidated Statements of Income (unaudited) (in thousands,except share Three months ended Six months endedand per sharedata) June30, March31, December31, September30, June30, June30, June30, 2020 2020 2019 2019 2019 2020 2019 INTEREST INCOMELoans, $ 20,496 $ 22,426 $ 23,175 $ 23,541 $ 23,554 $ 42,922 $ 46,306 including feesInvestment 3,041 2,732 2,413 2,176 2,339 5,773 4,970 securitiesInterest anddividends onother 260 865 944 803 705 1,125 1,519 interest?earningassetsTotal interest 23,797 26,023 26,532 26,520 26,598 49,820 52,795 incomeINTEREST EXPENSEInterest on 1,299 4,182 4,890 5,223 5,448 5,481 10,279 depositsInterest onFederal Home 38 ? 157 390 270 38 270 Loan BankadvancesInterest onfederal fundspurchased andsecurities 6 32 94 99 168 38 286 sold underagreements torepurchaseInterest on 823 829 824 824 823 1,652 1,647 long-term debtTotal interest 2,166 5,043 5,965 6,536 6,709 7,209 12,482 expenseNET INTERESTINCOME BEFORE 21,631 20,980 20,567 19,984 19,889 42,611 40,313 PROVISION FORCREDIT LOSSESProvision for 8,863 8,074 787 413 698 16,937 1,512 credit lossesNET INTERESTINCOME AFTER 12,768 12,906 19,780 19,571 19,191 25,674 38,801 PROVISION FORCREDIT LOSSESNONINTEREST INCOMEService 1,081 1,232 998 925 870 2,313 1,664 chargesGains (losses)on sale of ? ? ? 253 654 ? 654 securitiesGains (losses)on sale of ? 5 ? 140 (10 ) 5 (13 )other assetsDerivatives (10 ) 246 315 (293 ) (233 ) 236 (344 )incomeBank owned 367 362 375 422 389 729 749 life insuranceSBA lending 782 414 846 1,150 1,096 1,196 2,182 activitiesOthernoninterest 123 163 145 172 175 286 385 incomeTotalnoninterest 2,343 2,422 2,679 2,769 2,941 4,765 5,277 incomeNONINTEREST EXPENSESalaries andemployee 8,466 8,476 8,500 8,295 8,529 16,942 17,742 benefitsOccupancy 883 794 838 722 689 1,677 1,328 Equipment and 763 779 769 842 753 1,542 1,492 softwareProfessional 792 705 577 764 792 1,497 1,567 servicesCommunicationsand data 670 897 1,066 796 662 1,567 1,337 processingMarketing andbusiness 79 153 143 243 233 232 459 developmentTravel, mealsand 34 140 175 152 186 174 352 entertainmentFDIC premiums 175 ? ? (193 ) 175 175 410 Othernoninterest 1,042 933 1,314 1,056 1,235 1,975 2,362 expenseTotalnoninterest 12,904 12,877 13,382 12,677 13,254 25,781 27,049 expense INCOME FROMCONTINUINGOPERATIONS 2,207 2,451 9,077 9,663 8,878 4,658 17,029 BEFOREPROVISION FORINCOME TAXESProvision for 358 327 1,937 2,094 1,869 685 3,580 income taxesNET INCOMEFROM 1,849 2,124 7,140 7,569 7,009 3,973 13,449 CONTINUINGOPERATIONSDISCONTINUED OPERATIONSIncome (loss)from $ ? $ ? $ ? $ ? $ 30,107 $ ? $ 28,690 discontinuedoperationsProvision(benefit) for ? ? ? (617 ) 7,964 ? 7,610 income taxesNet income(loss) from ? ? ? 617 22,143 ? 21,080 discontinuedoperationsNET INCOME $ 1,849 $ 2,124 $ 7,140 $ 8,186 $ 29,152 $ 3,973 $ 34,529 Net Income(Loss) per Common Share -BasicNet income percommon share - $ 0.09 $ 0.10 $ 0.33 $ 0.33 $ 0.29 $ 0.18 $ 0.55 continuingoperationsNet income(loss) percommon share - ? ? ? 0.03 0.93 ? 0.87 discontinuedoperationsNet Income perCommon Share - 0.09 0.10 0.33 0.36 1.22 0.18 1.42 BasicNet Income(Loss) per Common Share -DilutedNet income percommon share - $ 0.09 $ 0.10 $ 0.32 $ 0.33 $ 0.29 $ 0.18 $ 0.55 continuingoperationsNet income(loss) percommon share - ? ? ? 0.03 0.92 ? 0.86 discontinuedoperationsNet Income perCommon Share - 0.09 0.10 0.32 0.36 1.21 0.18 1.41 Diluted Weightedaverage shares 21,472,462 21,689,038 21,876,487 22,681,904 23,888,381 21,580,855 24,369,106 - basicWeightedaverage shares 21,535,040 21,842,175 22,053,907 22,837,531 24,040,806 21,688,712 24,527,392 - diluted

Average BalanceSheets and Net Interest MarginAnalysisSelectedFinancial Information Three months ended June30,2020 March31,2020 Interest Tax Interest Tax Average Income/ Equivalent Average Income/ Equivalent (dollars inthousands; Balance Expense Yield/Rate Balance Expense Yield/Rate taxableequivalent)Assets Interest bearingdeposits in $ 129,989 $ 23 0.07 % $ 177,063 $ 668 1.52 %other banksOther short-term ? ? ? 110 ? ? investmentsInvestment securities:Taxableinvestment 247,668 1,581 2.57 253,937 1,680 2.66 securitiesNon-taxableinvestment 215,182 1,814 3.39 164,034 1,275 3.13 securities^(1)Total investment 462,850 3,395 2.95 417,971 2,955 2.84 securitiesLoans 2,131,847 20,496 3.87 1,890,184 22,426 4.77 FHLB and FRB 16,842 237 5.66 12,678 197 6.25 stockTotalinterest-earning 2,741,528 24,151 3.54 2,498,006 26,246 4.23 assetsNon-earning 191,188 188,260 assetsTotal assets $ 2,932,716 $ 2,686,266 Liabilities Interest bearing deposits:NOW, moneymarket, and 1,415,069 1,115 0.32 1,393,541 3,767 1.09 savingsTime deposits 96,362 58 0.24 55,775 52 0.37 Brokered 83,228 126 0.61 92,188 363 1.58 depositsTotalinterest-bearing 1,594,659 1,299 0.33 1,541,504 4,182 1.09 depositsTotal borrowings 97,769 44 0.18 11,703 32 1.10 Total long-term 49,930 823 6.63 49,888 829 6.68 debtTotalinterest-bearing 1,742,358 2,166 0.50 1,603,095 5,043 1.27 liabilitiesDemand deposits 815,299 713,001 Other 37,032 36,690 liabilitiesShareholders? 338,027 333,480 equityTotalliabilities and $ 2,932,716 $ 2,686,266 shareholders?equityNet interest 3.04 % 2.96 %spreadNet interestincome and net $ 21,985 3.23 % $ 21,203 3.41 %interest margin^(2) Non-taxableequivalent net 3.17 % 3.38 %interest margin

^(1) Interest revenue on tax-exempt securities has been increased to reflectcomparable interest on taxable securities. The rate used was 21%, reflectingthe statutory federal income tax rate.^(2) Tax equivalent net interest income divided by total interest-earningassets using the appropriate day count convention based on the type ofinterest-earning asset. Three months ended June30,2020 June30,2019 Interest Tax Interest Tax Average Income/ Equivalent Average Income/ Equivalent (dollars inthousands; Balance Expense Yield/Rate Balance Expense Yield/Rate taxableequivalent)Assets Interest bearingdeposits in $ 129,989 $ 23 0.07 % $ 70,628 $ 450 2.56 %other banksOther short-term ? ? ? 3,993 32 3.21 investmentsInvestment securities:Taxableinvestment 247,668 1,581 2.57 280,639 1,848 2.64 securitiesNon-taxableinvestment 215,182 1,814 3.39 79,408 579 2.92 securities^(1)Total investment 462,850 3,395 2.95 360,047 2,427 2.70 securitiesLoans-continuing 2,131,847 20,496 3.87 1,769,803 23,554 5.34 operationsFHLB and FRB 16,842 237 5.66 14,435 223 6.20 stockTotalinterest-earningassets- 2,741,528 24,151 3.54 2,218,906 26,686 4.82 continuingoperationsLoans held forsale- ? ? ? 30,198 47 0.62 discontinuedoperationsTotalinterest-earning 2,741,528 24,151 3.54 2,249,104 26,733 4.77 assetsNon-earning 191,188 191,398 assetsTotal assets $ 2,932,716 $ 2,440,502 Liabilities Interest bearing deposits:NOW, moneymarket, and 1,415,069 1,115 0.32 1,175,237 4,733 1.62 savingsTime deposits 96,362 58 0.24 32,358 50 0.62 Brokered 83,228 126 0.61 106,524 665 2.50 depositsTotalinterest-bearing 1,594,659 1,299 0.33 1,314,119 5,448 1.66 depositsTotal borrowings 97,769 44 0.18 70,770 438 2.48 Total long-term 49,930 823 6.63 49,761 823 6.63 debtTotalinterest-bearingliabilities- 1,742,358 2,166 0.50 1,434,650 6,709 1.88 continuingoperationsInterest-bearingliabilities- ? ? ? 36,255 86 0.95 discontinuedoperationsTotalinterest-bearing 1,742,358 2,166 0.50 1,470,905 6,795 1.85 liabilitiesDemand deposits 815,299 587,957 Demanddeposits- ? 9,851 discontinuedoperationsOther 37,032 31,670 liabilitiesShareholders? 338,027 340,119 equityTotalliabilities and $ 2,932,716 $ 2,440,502 shareholders?equityNet interestspread- 3.04 % 2.94 %continuingoperationsNet interestincome and netinterest $ 21,985 3.23 % $ 19,977 3.61 %margin-continuingoperations^(2)Net interestincome and net $ 21,985 3.23 % $ 19,938 3.56 %interest margin^(2) Non-taxableequivalent net 3.17 % 3.54 %interest margin

^(1) Interest revenue on tax-exempt securities has been increased to reflectcomparable interest on taxable securities. The rate used was 21%, reflectingthe statutory federal income tax rate.^(2) Tax equivalent net interest income divided by total interest-earningassets using the appropriate day count convention based on the type ofinterest-earning asset.

ATLANTIC CAPITAL BANCSHARES, INC.Average BalanceSheets and Net Interest MarginAnalysisSelectedFinancial Information Six months ended June30,2020 June30,2019 Interest Tax Interest Tax Average Income/ Equivalent Average Income/ Equivalent (dollars inthousands; Balance Expense Yield/Rate Balance Expense Yield/Rate taxableequivalent)Assets Interest bearingdeposits in $ 153,526 $ 691 0.91 % $ 81,339 $ 913 2.26 %other banksOther short-term 55 ? ? 7,815 118 3.04 investmentsInvestment securities:Taxableinvestment 250,802 3,261 2.61 300,255 3,962 2.66 securitiesNon-taxableinvestment 189,608 3,089 3.28 79,709 1,196 3.03 securities ^(1)Total investment 440,410 6,350 2.90 379,964 5,158 2.74 securitiesLoans-continuing 2,011,016 42,922 4.29 1,708,549 46,306 5.47 operationsFHLB and FRB 14,760 434 5.91 13,487 488 7.30 stockTotalinterest-earningassets- 2,619,767 50,397 3.87 2,191,154 52,983 4.88 continuingoperationsLoans held forsale- ? ? - 235,384 4,588 3.93 discontinuedoperationsTotalinterest-earning 2,619,767 50,397 3.87 2,426,538 57,571 4.78 assetsNon-earning 189,724 207,175 assetsTotal assets $ 2,809,491 $ 2,633,713 Liabilities Interest bearing deposits:NOW, moneymarket, and 1,404,305 4,882 0.70 1,125,253 8,988 1.61 savingsTime deposits 76,068 111 0.29 11,049 88 1.61 Brokered 87,708 488 1.12 93,903 1,203 2.58 depositsTotalinterest-bearing 1,568,081 5,481 0.70 1,230,205 10,279 1.68 depositsTotal borrowings 54,736 76 0.28 43,798 556 2.56 Total long-term 49,909 1,652 6.66 49,740 1,647 6.68 debtTotalinterest-bearingliabilities- 1,672,726 7,209 0.87 1,323,743 12,482 1.90 continuingoperationsInterest-bearingliabilities- ? ? - 290,515 1,502 1.04 discontinuedoperationsTotalinterest-bearing 1,672,726 7,209 0.87 1,614,258 13,984 1.75 liabilitiesDemand deposits 764,150 571,669 Demanddeposits- - 79,156 discontinuedoperationsOther 36,861 38,111 liabilitiesShareholders? 335,754 330,519 equityTotalliabilities and $ 2,809,491 $ 2,633,713 shareholders?equityNet interestspread- 3.00 % 2.98 %continuingoperationsNet interestincome and netinterest $ 43,188 3.32 % $ 40,501 3.73 %margin-continuingoperations ^(2)Net interestincome and net $ 43,188 3.32 % $ 43,587 3.62 %interest margin^(2) Non-taxableequivalent net 3.27 % 3.61 %interest margin

^(1) Interest revenue on tax-exempt securities has been increased to reflectcomparable interest on taxable securities. The rate used was 21%, reflectingthe statutory federal income tax rate.^(2) Tax equivalent net interest income divided by total interest-earningassets using the appropriate day count convention based on the type ofinterest-earning asset.

ATLANTICCAPITAL BANCSHARES,INC.Period End Loans Linked YearOver June30, March31, December31, September30, June30, Quarter Year(dollars in 2020 2020 2019 2019 2019 Change Changethousands)Loans held for saleLoans held $ 1,153 $ ? $ 370 $ 916 $ ? $ 1,153 $ 1,153 for saleTotal loans $ 1,153 $ ? $ 370 $ 916 $ ? $ 1,153 $ 1,153 held for sale Loans heldfor investmentCommercial loans:Commercialand $ 973,818 $ 760,062 $ 705,115 $ 697,412 $ 701,566 $ 213,756 $ 272,252 industrialCommercial real estate:Multifamily 58,909 73,654 98,378 60,398 43,907 (14,745 ) 15,002 Owner 366,847 359,026 357,912 352,842 313,310 7,821 53,537 occupiedInvestment 474,565 477,451 460,038 452,285 409,629 (2,886 ) 64,936 Construction and land:1?4 familyresidential 11 2,706 4,009 5,186 3,696 (2,695 ) (3,685 )constructionOtherconstruction, 128,980 124,116 123,531 139,991 195,260 4,864 (66,280 )development,and landMortgagewarehouse ? ? 13,941 23,256 10,665 ? (10,665 )loansTotalcommercial 2,003,130 1,797,015 1,762,924 1,731,370 1,678,033 206,115 325,097 loans Residential: Residential 32,327 31,761 31,315 31,903 31,338 566 989 mortgagesHome equity 23,689 23,479 25,002 25,638 24,303 210 (614 )Totalresidential 56,016 55,240 56,317 57,541 55,641 776 375 loans Consumer 113,149 58,164 37,765 27,168 34,618 54,985 78,531 Other 22,160 25,488 19,552 22,533 24,126 (3,328 ) (1,966 ) 2,194,455 1,935,907 1,876,558 1,838,612 1,792,418 258,548 402,037 Less netdeferred feesand other (9,761 ) (2,998 ) (3,034 ) (2,939 ) (2,678 ) (6,763 ) (7,083 )unearnedincomeTotal loansheld for $ 2,184,694 $ 1,932,909 $ 1,873,524 $ 1,835,673 $ 1,789,740 $ 251,785 $ 394,954 investment Total loans $ 2,185,847 $ 1,932,909 $ 1,873,894 $ 1,836,589 $ 1,789,740 $ 252,938 $ 396,107 PPP loans ^ $ 234,049 $ ? $ ? $ ? $ ? $ 234,049 $ 234,049 (1)Totalunfunded $ 749,321 $ 689,620 $ 743,958 $ 687,295 $ 637,559 $ 59,701 $ 111,762 commitments ^(1) PPP loans are included in total loans held for investment.

ATLANTICCAPITAL BANCSHARES,INC.Allowance forCredit Losses Activity andCredit Quality 2020 2019 Second First Fourth Third Second (dollars in Quarter Quarter Quarter Quarter Quarter thousands)Allowance for loan lossesBalance atbeginning of $ 24,896 $ 18,535 $ 18,080 $ 18,186 $ 18,107 periodAdoption of ? (854 ) ? ? ? ASU 2016-13Provision for 8,222 7,409 787 413 698 loan lossesLoans charged-off:Commercial and (1,479 ) (18 ) (344 ) (541 ) (588 ) industrialCommercial ? (78 ) ? ? (47 ) real estateConstruction ? ? ? ? ? and landResidential (36 ) ? ? ? ? mortgagesHome equity ? (125 ) ? ? ? Consumer ? ? ? (2 ) ? Other ? ? ? ? ? Total loans (1,515 ) (221 ) (344 ) (543 ) (635 ) charged-offRecoveries onloans previouslycharged-off:Commercial and 1 ? 5 17 ? industrialCommercial ? 18 ? ? ? real estateConstruction ? ? ? 1 ? and landResidential ? 1 7 ? ? mortgagesHome equity ? ? ? ? ? Consumer 1 8 ? 6 16 Other ? ? ? ? ? Total 2 27 12 24 16 recoveriesNet $ (1,513 ) $ (194 ) $ (332 ) $ (519 ) $ (619 ) charge-offsBalance at $ 31,605 $ 24,896 $ 18,535 $ 18,080 $ 18,186 period end Allowance forunfunded commitmentsBalance atbeginning of $ 2,838 $ 892 $ 836 $ 785 $ 631 periodAdoption of ? 1,275 ? ? ? ASU 2016-13Provision forunfunded 642 671 56 51 154 commitmentsBalance at $ 3,480 $ 2,838 $ 892 $ 836 $ 785 period end Totalallowance forcredit losses $ 35,085 $ 27,734 $ 19,427 $ 18,916 $ 18,971 - loans andunfundedcommitments Provision forcredit losses under CECLProvision for 8,222 7,409 787 413 698 loan lossesProvision forsecuritiesheld to (1 ) (6 ) - - - maturitycredit lossesProvision forunfunded 642 671 - - - commitments^(1)Totalprovision for $ 8,863 $ 8,074 $ 787 $ 413 $ 698 credit losses Non-performing $ 6,265 $ 6,515 $ 7,293 $ 6,770 $ 6,352 loansForeclosedproperties 779 779 278 278 971 (OREO)Totalnonperforming $ 7,044 $ 7,294 $ 7,571 $ 7,048 $ 7,323 assets Allowance forloan losses toloans held for 1.45 % 1.29 % 0.99 % 0.98 % 1.02 %investment ^(2)Allowance forcredit lossesto loans held 1.61 % 1.43 % 1.04 % 1.03 % 1.06 %for investment^(2)Netcharge-offs to 0.29 0.04 0.07 0.11 0.14 average loans^(3)Non-performingloans as a 0.29 % 0.34 % 0.39 % 0.37 % 0.35 %percentage oftotal loansNon-performingassets as a 0.24 % 0.27 % 0.26 % 0.29 % 0.31 %percentage oftotal assets ^(1) Prior to the adoption of ASU 2016-13, the provision for unfundedcommitments was included in other expense and totaled $56, $51 and $154 for thefourth, third, and secondquarters of 2019, respectively.^(2)The third and secondquarters of 2019 ratios are calculated on a continuingoperations basis.^(3) Annualized.

ATLANTIC CAPITAL BANCSHARES, INC. Period End Deposits Linked June30, March31, December31, September30, June30, Quarter YearOver (dollars in 2020 2020 2019 2019 2019 Change YearChange thousands)DDA $ 883,662 $ 712,919 $ 824,646 $ 599,657 $ 569,693 $ 170,743 $ 313,969 NOW 449,737 368,463 373,727 240,427 309,709 81,274 140,028 Savings 583 567 1,219 1,081 1,090 16 (507 ) Money market 879,863 982,109 1,173,218 921,133 802,973 (102,246 ) 76,890 Time 131,353 66,793 44,389 30,782 33,902 64,560 97,451 Brokered 62,433 94,268 81,847 61,192 134,164 (31,835 ) (71,731 ) Total deposits $ 2,407,631 $ 2,225,119 $ 2,499,046 $ 1,854,272 $ 1,851,531 $ 182,512 $ 556,100 Payments clients $ 344,608 $ 483,585 $ 567,597 $ 286,373 $ 301,413 $ (138,977 ) $ 43,195 Average Deposits 2020 2019 Linked Second First Fourth Third Second Quarter Q2 2020 vs (dollars in Quarter Quarter Quarter Quarter Quarter Change Q2 2019 thousands)DDA $ 815,299 $ 713,001 $ 718,298 $ 637,809 $ 587,957 $ 102,298 $ 227,342 NOW 462,051 382,178 320,637 295,106 314,601 79,873 147,450 Savings 574 650 1,098 1,085 956 (76 ) (382 ) Money market 952,444 1,010,713 1,006,449 895,102 859,680 (58,269 ) 92,764 Time 96,362 55,775 37,388 32,409 32,358 40,587 64,004 Brokered 83,228 92,188 62,757 88,146 106,524 (8,960 ) (23,296 ) Total deposits -continuing 2,409,958 2,254,505 2,146,627 1,949,657 1,902,076 155,453 507,882 operationsDeposits to beassumed - ? ? ? ? 45,350 ? (45,350 ) discontinuedoperationsTotal deposits $ 2,409,958 $ 2,254,505 $ 2,146,627 $ 1,949,657 $ 1,947,426 $ 155,453 $ 462,532 Payments clients $ 377,923 $ 419,630 $ 362,327 $ 289,526 $ 285,949 $ (41,707 ) $ 91,974 Noninterestbearing depositsas a percentageof average 33.8 % 31.6 % 33.5 % 32.7 % 30.9 % deposits -continuingoperationsCost ofinterest-bearingdeposits - 0.33 % 1.09 % 1.36 % 1.58 % 1.66 % continuingoperationsCost of deposits- continuing 0.22 % 0.75 % 0.90 % 1.06 % 1.15 % operations

ATLANTIC CAPITAL BANCSHARES, INC. Non-GAAP Performance and Financial Measures Reconciliation For the six months 2020 2019 ended June30, Second First Fourth Third Second (in thousands,except share and Quarter Quarter Quarter Quarter Quarter 2020 2019 per share data) Taxableequivalent interest incomereconciliationInterest $ 23,797 $ 26,023 $ 26,532 $ 26,520 $ 26,598 $ 49,820 $ 52,795 income- GAAPTaxableequivalent 354 223 167 104 88 577 188 adjustmentInterestincome- taxable $ 24,151 $ 26,246 $ 26,699 $ 26,624 $ 26,686 $ 50,397 $ 52,983 equivalent Taxableequivalent netinterest income reconciliation -continuingoperationsNet interest $ 21,631 $ 20,980 $ 20,567 $ 19,984 $ 19,889 $ 42,611 $ 40,313 income- GAAPTaxableequivalent 354 223 167 104 88 577 188 adjustmentNet interestincome- taxableequivalent - $ 21,985 $ 21,203 $ 20,734 $ 20,088 $ 19,977 $ 43,188 $ 40,501 continuingoperations Taxableequivalent netinterest margin reconciliation-continuingoperationsNet interestmargin- GAAP- 3.17 % 3.38 % 3.35 % 3.51 % 3.60 % 3.27 % 3.71 %continuingoperationsImpact oftaxable 0.06 0.03 0.03 0.01 0.01 0.05 0.02 equivalentadjustmentNet interestmargin- taxableequivalent- 3.23 % 3.41 % 3.38 % 3.52 % 3.61 % 3.32 % 3.73 %continuingoperations Taxableequivalent net interest marginreconciliationNet interest 3.17 % 3.38 % 3.35 % 3.51 % 3.54 % 3.27 % 3.61 %margin- GAAPImpact oftaxable 0.06 0.03 0.03 0.01 0.02 0.05 0.01 equivalentadjustmentNet interestmargin- taxable 3.23 % 3.41 % 3.38 % 3.52 % 3.56 % 3.32 % 3.62 %equivalent Income beforeincome taxes reconciliationIncome beforeincome taxes- $ 2,207 $ 2,451 $ 9,077 $ 9,663 $ 8,878 $ 4,658 $ 17,029 GAAPTaxableequivalent 354 223 167 104 88 577 188 adjustmentIncome before $ 2,561 $ 2,674 $ 9,244 $ 9,767 $ 8,966 $ 5,235 $ 17,217 income taxes Income tax reconciliationIncome tax $ 358 $ 327 $ 1,937 $ 2,094 $ 1,869 $ 685 $ 3,580 expense- GAAPTaxableequivalent 354 223 167 104 88 577 188 adjustmentIncome tax $ 712 $ 550 $ 2,104 $ 2,198 $ 1,957 $ 1,262 $ 3,768 expense Tangible bookvalue per common sharereconciliationTotalshareholders? $ 335,980 $ 332,300 $ 326,495 $ 328,711 $ 336,715 $ 335,980 $ 336,715 equityIntangible (19,925 ) (19,925 ) (19,925 ) (19,925 ) (19,925 ) (19,925 ) (19,925 ) assetsTotal tangible $ 316,055 $ 312,375 $ 306,570 $ 308,786 $ 316,790 $ 316,055 $ 316,790 common equityCommon shares 21,477,631 21,479,986 21,751,026 22,193,761 23,293,465 21,477,631 23,293,465 outstandingBook value percommon share- $ 15.64 $ 15.47 $ 15.01 $ 14.81 $ 14.46 $ 15.64 $ 14.46 GAAPTangible book 14.72 14.54 14.09 13.91 13.60 14.72 13.60 value Tangible commonequity to tangible assetsreconciliationTotalshareholders? $ 335,980 $ 332,300 $ 326,495 $ 328,711 $ 336,715 $ 335,980 $ 336,715 equityIntangible (19,925 ) (19,925 ) (19,925 ) (19,925 ) (19,925 ) (19,925 ) (19,925 ) assetsTotal tangible $ 316,055 $ 312,375 $ 306,570 $ 308,786 $ 316,790 $ 316,055 $ 316,790 common equity Total assets $ 2,890,622 $ 2,719,658 $ 2,910,379 $ 2,410,198 $ 2,389,680 $ 2,890,622 $ 2,389,680 Intangible (19,925 ) (19,925 ) (19,925 ) (19,925 ) (19,925 ) (19,925 ) (19,925 ) assetsTotal tangible $ 2,870,697 $ 2,699,733 $ 2,890,454 $ 2,390,273 $ 2,369,755 $ 2,870,697 $ 2,369,755 assetsTangible commonequity to 11.01 % 11.57 % 10.61 % 12.92 % 13.37 % 11.01 % 13.37 %tangible assets Allowance forloan losses toloans held for investmentreconciliationTotal loans held $ 2,184,694 $ 1,932,909 $ 1,873,524 $ 1,835,673 $ 1,789,740 $ 2,184,694 $ 1,789,740 for investmentPPP loans (234,049 ) ? ? ? ? (234,049 ) ? Total loans heldfor investment $ 1,950,645 $ 1,932,909 $ 1,873,524 $ 1,835,673 $ 1,789,740 $ 1,950,645 $ 1,789,740 excluding PPPloans Allowance forcredit losses to 1.61 % 1.43 % 1.04 % 1.03 % 1.06 % 1.61 % 1.06 %loans held forinvestmentAllowance forcredit losses toloans held for 1.80 % 1.43 % 1.04 % 1.03 % 1.06 % 1.80 % 1.06 %investmentexcluding PPPloans