Freedom Financial : FDVA Presentation August 2023

Presentation to Investors - Second Quarter 2023

August 2023

Joseph J. Thomas - President & CEO

Disclosure

This presentation contains forward-looking statements, including our expectations with respect to future events that are subject to various risks and uncertainties. Factors that could cause actual results to differ materially from management's projections, forecasts, estimates, and expectations include fluctuation in market rates of interest and loan and deposit pricing; adverse changes in the overall national economy, as well as adverse economic conditions in our specific market areas; maintenance and development of well-established and valued client relationships and referral source relationships; and acquisition or loss of key production personnel. Other risks that can affect the Bank are detailed from time to time in our quarterly and annual reports filed with the Federal Financial Institutions Examination Council. We caution readers that the list of factors above is not exclusive. The forward-looking statements are made as of the date of this presentation, and we may not undertake steps to update the forward-looking statements to reflect the impact of any circumstances or events that arise after the date the forward-looking statements are made. In addition, our past results of operations are not necessarily indicative of future performance.

2

Agenda

Company Overview

Management and Model

Results for Q2 2023

Investment Summary

Our Company

Franchise Footprint

Company Highlights

Maryland

DC

Virginia

Loudoun County Location Coming Soon

2001

Bank Established in

Vienna, VA

$1,041,290,000

Total Assets as of

June 30, 2023

0.69%

ROAA

Quarter Ended

June 30, 2023

14.24%

Non-Interest Income/Total

Revenue, Quarter Ended

June 30, 2023

98

Total Employees

13.52%

CET1 Capital Ratio

Quarter Ended

June 30, 2023

69.02%

Efficiency Ratio

Quarter Ended

June 30, 2023

3.05%

Cost of Funds

Quarter Ended June 30,

2023

4

Top Quartile Profitability Amongst Peers(1)

Return on Average Assets (%)

Return on Average Equity (%)

Highlights

VA Peer(1)		1.27%
1.12%	1.16%
2023Q2
Median
ROAA: 0.87%
		0.69%
0.55%

0.04%

VA Peer(1)

2023Q2

Median

ROAE: 8.81%

4.39%

0.34%

13.60% 13.55%

10.83%

9.15%

▪ Results of a three-year effort

to implement a new

strategic plan are currently

on full display

▪ Historically delivered

improving performance and

sustained growth in pre-tax,

pre-provision profitability

2018Y

2019Y

2020Y

2021Y

2022Y

2023Q2

2018Y 2019Y 2020Y 2021Y 2022Y 2023Q2

Net Income ($M)			Efficiency Ratio (%)
		91.1%
		84.5%
$10.7	$10.6	69.6%	69.0%
$7.4		61.4%	61.1%

▪ Cyclical changes in the

economy have more recently

impacted NIM and fee-based

revenues.

Note: All references to financial data prior to holding company

$2.7

$0.2

$1.8

formation are bank level

(1) VA Peers include banks headquartered in Virginia with Total

Assets <$10.0B; 2023Q2 financial data as of most recently

reported quarter on June 30, 2023

Source: S&P Capital IQ Pro

2018Y

2019Y

2020Y

2021Y

2022Y

2023Q2

2018Y

2019Y

2020Y

2021Y

2022Y

2023Q2

5