First Choice Bancorp : Investor Presentation – April 2021

Q1 2021 Overview

April 26, 2021

Disclosures

FORWARD LOOKING STATEMENTS

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, 2020 as may be supplemented and/or amended by our Quarterly Reports on Form 10-Q as filed subsequent thereto.

ADDITIONAL RISK FACTORS

The coronavirus (COVID-19) outbreak has had and may continue to have a material and adverse impact on certain of our customers directly or indirectly. Entire industries within our loan portfolio, such as the accommodations and food services industry, have experienced quarantine-related precipitous declines in demand for their products and services. Other industries we service have likewise experienced disruptions in their supply chain as well as quarantine-related declines in demand. In addition, such events could affect the stability of our deposit base, lead to mass layoffs and furloughs which could impair the ability of borrowers to repay outstanding loans, impair the value of collateral securing loans, result in lost revenue or cause us to incur additional expenses and losses. In 2020, the Federal Reserve took extreme measures to reduce interest rates to near zero in an attempt to boost consumer spending and indicated that it would leave interest rates near zero for the foreseeable future as it projected a long road to recovery from the pandemic-induced economic downturn. The extraordinarily low interest rate environment that has prevailed in the wake of the COVID-19 pandemic has put and will continue to put downward pressure on the Company's net interest margin, a key profitability indicator for the Company. Although we maintain contingency and disaster recovery plans for pandemic outbreaks, even with these precautions, the prolonged impact of the COVID-19 pandemic could negatively impact the availability of key personnel or significant numbers of our staff, many of whom are essential to the conduct of our business. A prolonged COVID-19 pandemic and the potential for future and more serious waves of the COVID-19 pandemic could also impact the business and operations of third party service providers who perform critical services for our business. If the COVID-19 pandemic continues or containment and mitigation measures prove unsuccessful, we may experience a material adverse effect on our business, financial condition, and results of operations.

April 26, 2021

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Our Franchise

First Choice Bank

• Founded in 2005 and headquartered in Cerritos, California, we are a community-focused commercial bank serving SoCal
• With 8 branches and 2 LPOs, we specialize in making loans to small- to medium-sized businesses, including C&I, CRE with a hospitality niche, and SBA 7a and 504 loans
• We are a Preferred SBA Lender and participated in the Paycheck Protection Program and the Main Street Lending Program. We are currently participating in an additional round of the Paycheck Protection Program
• We exceed our clients' expectations through our commitment to our motto to be "First in Speed, Service, and Solutions"

Financial Highlights: Q1'21

•	$2.5bn Assets	•	CBLR1: 9.76%
•	$2.0bn Loans HFI	•	Efficiency Ratio2 : 46.4%
•	$1.9bn Deposits	•	NPAs/Assets: 0.17%
•	ROAA: 1.64%	•	ALLL/Loans HFI (ex-PPP): 1.22%

• ROATCE 2: 19.09%

1. Preliminary until Call Report is filed on or beforeApril 30, 2021.
2. Non-GAAPmeasure. See reconciliation to GAAP in the Appendix.

April 26, 2021

Southern California Footprint

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Q1'2021 Results

Q1'21 Highlights - Continued High Performance

• Net income of $9.8mm or $0.82 per diluted share
• • $5.3mm increase over Q1'20
  • $1.0mm decrease from Q4'20, primarily from decrease in Q1'21 loan sales and related gain of $2.6 mm
• PTPP Net Income of $14.0mm
• NIM stable at 4.20% primarily due to favorable yields on recent loan originations
• Efficiency ratio of 46.4% driven by strong revenues and continued expense management
• Excluding PPP, $25.3mm of organic loan growth
• TBV per share increased $0.40 to $17.69

Q1'21 Superior Stock Price Performance

40.0%	FCBP +31.5%
35.0%	S&P 500 +5.8%
NASDAQ +2.8%
	KBW NASDAQ Bank Index +22.7%
30.0%
25.0%
20.0%
15.0%
10.0%
5.0%
0.0%
-5.0%

Improving Asset Quality

• Non-performingloans decreased $2.2mm to $4.2mm or 0.21% of total loans held for investment
• 7 loans were upgraded and returned to accrual status or paid in full in Q1'21
• Allowance for loan losses of $19.3mm or 1.22% of loans held for investment("HFI"), excluding PPP loans
  - No Q1'21 loan loss provision given favorable recoveries, risk rating upgrades and loss rates

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Key Investment Highlights

Financial

Performance

Premier Community

Bank Franchise

Prudent Risk

Management

Experienced &

Diverse Leadership

• Solid performance in Q1'21 and well poised for recovering economy
• Demonstrated ability to generate strong organic balance sheet growth
• Consistent growth of tangible book value per share
• Above peer group net interest margin
• First in Speed, Service, and Solutions approach
• Top ranked SBA Lender in Southern California
• Focused on building a stronger company for the future
• Robust governance processes
• Superior credit record with strong asset quality metrics
• Proactive relationship management
• Executive management has on average 30+ years of through the cycle banking experience
• More than 50% of senior management identified as female
• Inclusive leadership development programs in place to develop bench
• Board has deep in-market experience with specialty credits

April 26, 2021

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