County Bancorp : The ICBK Story, Q4 2020

The ICBK Story

Q4 2020

NASDAQ: ICBK

investors.icbk.com

Forward Looking Statements

EXCEPT AS OTHERWISE INDICATED, THIS PRESENTATION SPEAKS AS OF THE DATE HEREOF.THE DELIVERY OF THIS PRESENTATION SHALL NOT, UNDER ANY CIRCUMSTANCES, CREATE ANY IMPLICATION THAT THERE HAS BEEN NO CHANGE IN THE AFFAIRS OF COUNTY BANCORP, INC. ("THE COMPANY") AFTER THE DATE HEREOF.

THIS PRESENTATION CONTAINS FORWARD-LOOKING STATEMENTS. IN SOME CASES, FORWARD-LOOKING STATEMENTS CAN BE IDENTIFIED BY THE USE OF WORDS SUCH AS "ESTIMATE," "PROJECT," "BELIEVE," "INTEND," "ANTICIPATE," "ASSUME," "PLAN," "SEEK," "EXPECT," "MAY," "SHOULD," "INDICATE," "WOULD," "COMTEMPLATE," "CONTINUE," "INTEND," "TARGET" AND WORDS OF SIMILAR MEANING. THESE FORWARD-

LOOKING STATEMENTS ARE NOT HISTORICAL FACTS, AND ARE BASED ON CURRENT EXPECTATIONS, ESTIMATES AND PROJECTIONS ABOUT COUNTY BANCORP'S INDUSTRY, MANAGEMENT'S BELIEFS AND CERTAIN ASSUMPTIONS MADE BY MANAGEMENT, MANY OF WHICH, BY THEIR NATURE, ARE INHERENTLY UNCERTAIN AND BEYOND COUNTY BANCORP'S CONTROL. ACCORDINGLY, YOU ARE CAUTIONED THAT ANY SUCH FORWARD-LOOKING STATEMENTS ARE NOT GUARANTEES OF FUTURE PERFORMANCE AND ARE SUBJECT TO CERTAIN RISKS, UNCERTAINTIES AND ASSUMPTIONS THAT ARE DIFFICULT TO PREDICT, INCLUDING THE RISK FACTORS SET FORTH IN THE COMPANY'S FILINGS WITH THE SECURITEIS AND EXCHANGE COMMISSSION. ALTHOUGH COUNTY BANCORP BELIEVES THAT THE EXPECTATIONS REFLECTED IN SUCH FORWARD-LOOKING STATEMENTS ARE REASONABLE AS OF THE DATE MADE, EXPECTATIONS MAY PROVE TO HAVE BEEN MATERIALLY DIFFERENT FROM THE RESULTS EXPRESSED OR IMPLIED BY SUCH FORWARD-LOOKING STATEMENTS. UNLESS REQUIRED BY LAW, COUNTY BANCORP ALSO DISCLAIMS ANY OBLIGATION TO UPDATE ANY FORWARD-LOOKING STATEMENTS. INTERESTED PARTIES SHOULD NOT PLACE UNDUE RELIANCE ON ANY FORWARD-LOOKING STATEMENT AND SHOULD CAREFULLY CONSIDER THE RISKS AND OTHER FACTORS THAT COUNTY BANCORP FACES.

MARKET DATA AND OTHER STATISTICAL DATA USED IN THIS PRESENTATION HAS BEEN OBTAINED FROM INDEPENDENT INDUSTRY SOURCES AND PUBLICATIONS AS WELL AS FROM RESEARCH REPORTS PREPARED FOR OTHER PURPOSES. INDUSTRY PUBLICATIONS AND SURVEYS AND FORCASTS GENERALLY STATE THAT THE INFORMATION CONTAINED THEREIN HAS BEEN OBTAINED FROM SOURCES BELIEVED TO BE RELIABLE. THE COMPANY HAS NOT INDEPENDENTLY VERIFIED THE DATA OBTAINED FROM THESE SOURCES. FORWARD- LOOKING INFORMATION OBTAINED FROM THESE SOURCES IS SUBJECT TO THE SAME QUALIFICATIONS AND THE ADDITIONAL UNCERTAINTIES REGARDING THE OTHER FORWARD-LOOKING STATEMENTS IN THIS PRESENTATION.

THIS PRESENTATION INCLUDES CERTAIN MEASURES THAT ARE NOT GENERALLY ACCEPTED ACCOUNTING PRINCIPLES OF THE UNITED STATES ("GAAP"). THESE NON-GAAP FINANCIAL MEASURES SHOULD BE CONSIDERED ONLY AS SUPPLEMENTAL TO, AND NOT SUPERIOR TO, FINANCIAL MEASURES PREPARED IN ACCORDANCE WITH GAAP. PLEASE REFER TO THE APPENDIX OF THIS PRESENTAION FOR A RECONCILIATION OF THE NON-GAAP FINANCIAL MEASURES INCLUDED IN THIS PRESENTATION TO THE MOST DIRECTLY COMPARABLE FINANCIAL MEASURES PREPARED IN ACCORDANCE WITH GAAP.

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Q4 2020 Overview

• Net Income $4.5 million or $0.70 per diluted share
• • Net interest income increased to $10.8 million
  • Noninterest income increased to $4.4 million
  • Net interest margin increased to 3.06%
  • Provision for loan loss decreased to $(0.5) million

Net Income

$4.5 million

Net Interest

Margin %

3.06%

Loans on Payment Deferral

$16.8 million

Diluted Income

Per Share

$0.70

Loan Loss

Provision

$(0.5) million

Adverse

Classified

Asset Ratio (1)

39.43%

Net Interest

Income

$10.8 million

Noninterest

Income

$4.4 million

Common

Shares

Repurchased

107,437

(1) A non-GAAP financial measure - see appendix

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2020 Year in Review

• Net Income $5.5 million or $0.79 per diluted share
• • Goodwill impairment of $5.0 million or occurred in the first quarter or $0.77 per share
  • Net interest income decreased slightly to $37.0 million
  • Noninterest income increased to $14.3 million

Net Income

$5.5 million

Net Interest

Margin %

2.68%

Loans Sold and

Serviced

Increased

$60.8 million

Diluted Income		Net Interest
Per Share		Income
$0.79		$37.0 million

Loan Loss		Noninterest
Provision		Income
$3.0 million		$14.3 million

Client Deposits	Common
Increased	Shares

Repurchased

$80.4 million

567,118

(1) A non-GAAP financial measure - see appendix

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