Potomac Bancshares : Shareholder Presentation – Fall 2021

Disclaimer

Forward-Looking Statements

In addition to historical information, this presentation may contain certain forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements provide current expectations or forecasts of future events and include, among others: (1) statements with respect to the beliefs, plans, objectives, goals, guidelines, expectations, anticipations, and future financial condition, results of operations and performance of Potomac Bancshares, Inc. (the "Company") and its wholly-owned bank subsidiary, Bank of Charles Town (the "Bank"); and (2) statements preceded by, followed by or that include the words "may," "could," "should," "would," "believe," "anticipate," "estimate," "expect," "intend," "plan," "projects," or similar expressions.

These forward-looking statements are not guarantees of future performance, nor should they be relied upon as representing the Company's or the Bank's views as of any subsequent date. Forward-looking statements involve significant risks and uncertainties and actual results may differ materially from those presented, either expressed or implied. Factors that might cause such differences include, but are not limited to: (1) the ability of the Company and the Bank to successfully execute its business plans, manage its risks, and achieve its objectives; (2) changes in local, national and international political and economic conditions; (3) changes in financial market conditions, either internationally, nationally or locally in areas in which the Company conducts its operations, including without limitation reduced rates of business formation and growth, commercial and residential real estate development and real estate prices; (4) changes in interest rates, the quality and composition of the loan and securities portfolios, demand for loan products, deposit flows and competition; (5) changes in fiscal, monetary, regulatory, trade and tax policies and laws, and regulatory assessments and fees; (6) continuing consolidation in the financial services industry; (7) legal claims against the Company; (8) increased competitive challenges and expanding product and pricing pressures among financial institutions; (9) the ability of the Company and the Bank to develop new banking products, the cost of such development, the acceptance of such new products by the Company's and Bank's clientele and the impact of these new product's on the Company's and Bank's profitability; (10) technological changes and the Company's implementation of new technologies, including how the cost of implementation impacts the Company's profitability; (11) the Company's ability to develop and maintain secure and reliable information technology systems;

1. legislation or regulatory changes which adversely affect the Company's operations or business; (13) the Company's ability to comply with applicable laws and regulations, and the cost of such compliance; and (14) the impacts of the ongoing COVID-19 pandemic, including the impact of actions taken by governmental and regulatory authorities in response to such pandemic. Except to the extent required by law, the Company specifically disclaims any obligation to update any factors or to publicly announce the result of revisions to any of the forward-looking statements included herein to reflect future events or developments.

Certain of the information contained in this presentation may be derived from information provided by industry sources. The Company believes that such information is accurate and that the sources from which it has been obtained are reliable. The Company cannot guarantee the accuracy of such information, however, and has not independently verified such information.

Except where information is provided as of a specified date, this presentation speaks as of the date hereof. The delivery of this presentation will not, under any circumstances, create an implication that there has been no change in the affairs of the Company since the date of this presentation. The Company is not making any implied or express representation or warranty as to the accuracy or completeness of the information summarized herein or made available in connection with any further investigation of the Company. The Company expressly disclaims any and all liability which may be based on such information, errors therein or omissions therefrom.

This investor presentation is not an offer to sell securities and it is not soliciting an offer to buy securities in any state where the offer or sale is not permitted. Neither the Securities and Exchange Commission nor any other regulatory body has approved or disapproved of the securities of the Company or passed upon the accuracy or adequacy of this presentation. Any representation to the contrary is a criminal offense.

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Experienced Leadership Team

Proven Leadership

Alice P. Frazier joined Potomac Bancshares Inc. in 2017 as President & Chief Executive Officer. She has 30 years of banking experience. Prior to Potomac Bancshares Inc., she served as Executive Vice President and Chief Operating Officer of Cardinal Financial Corporation, which had 30 banking offices serving the Washington, DC Metro area. During her tenure, Cardinal grew from $1.8 billion to over $4.0 billion in assets and originated $4 billion in mortgages annually. Before Cardinal, Ms. Frazier began her banking career with Middleburg Financial Corporation in 1991, first serving as Chief Financial Officer and culminating as Chief Operating Officer as the bank grew from $110 million to $841 million in assets when she left in 2007. Prior to that, she worked four years in public accounting with both a national and regional firm. Ms. Frazier currently serves as Secretary for Independent Community Bankers Association. She is a past Chairperson of the Virginia Association of Community Banks.

Dean Cognetti is the Executive Vice President & Chief Financial Officer of Potomac Bancshares Inc. and Bank of Charles Town, having joined the Company in July 2011. Mr. Cognetti serves as Secretary and Treasurer at Potomac Bancshares Inc. He has over 26 years financial services experience including Senior VP/Mergers & Acquisitions Manager with BB&T in Winston-Salem, North Carolina, Manager of Financial Analysis with One Valley Bank (acquired by BB&T) in Charleston, West Virginia and Comptroller with One Valley Bank of Clarksburg, Clarksburg, West Virginia. Mr. Cognetti is a graduate of Marquette University and is a Certified Public Accountant.

Raymond F. Goodrich joined Bank of Charles Town as Executive Vice President and Chief Lending Officer in April 2018. Goodrich, formerly Executive Vice President and Chief Lending Officer with Chain Bridge Bank, N.A. in McLean, Virginia, and Senior Vice President at M & T Bank (formerly Provident Bank), brings over 34 years of financial services experience to his new position. He began his banking career in First Virginia Bank's management training program. Raymond has expertise in lending at all levels with a solid foundation in commercial lending.

Tim Lewis joined Bank of Charles Town in 2002 and is currently Executive Vice President - Information Technology and Retail Operations Manager. Tim began his banking career in 1978 as a teller working his way up to Branch Manager, Retail Lender, City Executive and Branch Area Operations Manager for South Berkeley, One Valley Bank and then BB&T following the purchase of One Valley Bank. During his career, Tim has led multiple merger conversion teams for One Valley Bank. Tim currently serves on the Berkeley County Planning Commission and volunteers with Horses with Hearts.

Matt Stickel is the Senior Vice President & Senior Credit Officer. He has been in banking for more than 15 years, all of which have been at Bank of Charles Town. He helped establish the foundation of the Credit Administration department of the bank during the Great Recession and has been tasked with overseeing the underwriting and loan review areas for more than 10 years. He is a graduate of the Barret School of Banking, RMA Commercial Lending School, and ABA Graduate Commercial Lending School. He earned his Credit Risk Certification (CRC) through the Risk Management Associates and currently serves on the Board of Directors for the Community Bankers of West Virginia.

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Overview of Potomac Bancshares

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