John Marshall Bancorp (JMSB) investor relations material

Executive summary

• Q3 2026 net income rose 39.5% YoY to $7.5M; diluted EPS was $0.53 vs. $0.38, marking the ninth consecutive quarter of net income growth.

• Adjusted for $332K of merger costs, Q3 core net income was $7.8M and core diluted EPS was $0.55; core net income increased 22.7% QoQ.

• Nine-month net income rose 34.9% YoY to $20.7M; adjusted for merger costs and the Bearing Insurance investment-unit sale gain, core net income rose 32.3% to $20.3M.

• Revenue growth, stronger net interest income and lower Q3 expenses supported profitability; loans and deposits expanded the balance sheet.

Financial highlights

• Q3 net interest income rose 14.0% YoY to $17.8M; nine-month net interest income rose 15.7% to $51.6M. Q3 net interest income after provision increased 18.8% to $18.1M.

• Q3 revenue increased 11.1% YoY while non-interest expense declined 3.9%; income before taxes was $9.7M vs. $6.9M. Nine-month pretax income was $26.6M vs. $19.6M.

• Q3 provision for credit losses was a $318K recovery vs. $356K expense YoY; nine-month provision was a $38K recovery vs. $1.1M expense.

• Total assets were $2.44B at September 30, up 4.5% from year-end and 4.8% YoY; deposits were $2.06B and loans net of unearned income were $2.01B.

• Q3 non-interest income fell 59.0% YoY to $268K; nine-month non-interest income rose 19.9% to $2.0M, including an $835K Bearing Insurance investment-unit sale gain.

Outlook and guidance

• The Eagle merger is expected to close in Q1 2027, subject to regulatory and shareholder approvals and customary conditions; the combined organization is projected to have ~$4.3B in assets and 23 offices.

• The SBA is expected to pay the guarantee on the sole $267K nonaccrual loan; a reimbursement request was submitted for the guaranteed balance.