Commercial Bancgroup (Nasdaq: CBK) lifts Q2 profit to $10.2M and declares dividend

Rhea-AI Filing Summary

Commercial Bancgroup, Inc. reported second-quarter 2026 net income of $10.2 million, or $0.75 per common share, up from $8.9 million, or $0.73 per share, in the second quarter of 2025. Core net income was also $10.2 million, or $0.75 per share. Pre-tax income reached $12.9 million, an increase of $1.3 million, or 11.6%, driven by a $1.1 million (5.3%) rise in net interest income after provision for credit losses and a $0.4 million (19.2%) increase in noninterest income, partially offset by modestly higher noninterest expenses.

Total assets were $2.4 billion as of June 30, 2026, with loans of $1.9 billion, up $149.0 million, or 8.3%, from June 30, 2025. Deposits were $1.9 billion, including $428.4 million of noninterest-bearing demand deposits. Asset quality remained solid, with nonperforming assets at 0.31% of total assets and the allowance for credit losses at 0.96% of total loans. Profitability metrics included return on average assets of 1.78%, return on average tangible common equity of 14.26%, net interest margin of 4.06%, and an efficiency ratio of 44.99%, while regulatory capital ratios comfortably exceeded well-capitalized thresholds.

The board of directors declared a quarterly cash dividend of $0.12 per share, payable on September 30, 2026 to shareholders of record on September 15, 2026.

Positive

• Second-quarter 2026 net income rose to $10.2 million from $8.9 million a year earlier, with profitability metrics such as ROAA of 1.78% and ROATCE of 14.26%.
• The board declared a quarterly cash dividend of $0.12 per share, payable September 30, 2026, providing direct cash returns to shareholders.

Negative

• None.

8-K Event Classification

3 items: 2.02, 7.01, 9.01

3 items

Item 2.02 Results of Operations and Financial Condition Financial

Disclosure of earnings results, typically an earnings press release or preliminary financials.

Item 7.01 Regulation FD Disclosure Disclosure

Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Key Figures

Q2 2026 Net Income: $10.2 million Q2 2026 Basic EPS: $0.75 Total Assets: $2.4 billion +5 more

8 metrics

Q2 2026 Net Income $10.2 million Net income for the quarter ended June 30, 2026; compared with $8.9 million in Q2 2025

Q2 2026 Basic EPS $0.75 Basic earnings per share for the quarter ended June 30, 2026

Total Assets $2.4 billion Total assets as of June 30, 2026; up from $2.3 billion a year earlier

Loans Outstanding $1.9 billion Loans outstanding net of deferred fees and discounts as of June 30, 2026; increased $149.0 million year over year

Total Deposits $1.9 billion Total deposits as of June 30, 2026; up $21.9 million, or 1.2%, from June 30, 2025

Return on Average Assets 1.78% ROAA for the quarter ended June 30, 2026

Net Interest Margin 4.06% Net interest margin for the quarter ended June 30, 2026

Quarterly Dividend per Share $0.12 Cash dividend declared, payable September 30, 2026 to shareholders of record on September 15, 2026

Key Terms

net interest margin, nonperforming assets, tangible common equity, core net income, +1 more

5 terms

net interest margin financial

"Net interest margin was 4.06% for the quarter ended June 30, 2026"

Net interest margin measures how much a bank earns from lending and investing compared with what it pays for funding, expressed as a percentage of its interest-earning assets. Think of it like a grocery store’s markup: it shows the gap between buying cost and selling price per dollar of goods — here, the cost is interest paid and the sale is interest received. Investors watch it because a higher margin usually means a bank is more profitable and better at managing interest rate and credit conditions.

nonperforming assets financial

"Asset quality declined slightly with nonperforming assets to total assets of 0.31%"

Nonperforming assets are loans or investments that are not generating expected payments or returns because the borrower has fallen behind on payments or the investment has lost value. They matter to investors because a high level of nonperforming assets can indicate financial trouble for a bank or institution, potentially affecting its stability and profitability.

tangible common equity financial

"Tangible common equity to tangible assets was 12.33% as of June 30, 2026"

Tangible common equity is the portion of a company’s net worth that belongs to ordinary shareholders after removing intangible items (like goodwill or patents) and any preferred claims; it’s often expressed on a per-share basis. Think of it as the hard, sellable value left for common owners if you removed non-physical assets and paid off debts—investors use it to judge how much real cushion a company has and whether the stock might be under- or over-valued.

core net income financial

"Core net income was $10.2 million, or $0.75 per share, for the second quarter of 2026"

Core net income is the company’s profit after taxes from its ordinary, ongoing business activities, excluding one-time gains, losses or unusual items. Think of it like a household’s regular salary minus one-off windfalls or repairs — it shows the steady earnings the business can be expected to produce. Investors use it to judge the company’s underlying performance and to compare profitability across periods without distortion from rare events.

efficiency ratio financial

"The efficiency ratio was 44.99% and the core efficiency ratio was also 44.99% in Q2 2026"

A measure of how much a company spends to produce each dollar of revenue, usually shown as operating expenses divided by revenue and expressed as a percentage. Think of it as a household’s budget: a lower percentage means more of each dollar earned stays as profit, while a higher number means costs are eating into returns. Investors use it to judge cost control and compare how efficiently companies turn revenue into earnings, especially in banks and financial firms.

Earnings Snapshot

Net income: $10.2 million

quarter ended June 30, 2026

Net income $10.2 million compared with $8.9 million in the quarter ended June 30, 2025

Basic EPS $0.75 compared with $0.73 in the quarter ended June 30, 2025

Pre-tax income $12.9 million up $1.3 million, or 11.6%, from the quarter ended June 30, 2025

Net interest income after provision $21.1 million increased by $1.1 million, or 5.3%, from the prior-year quarter

Noninterest income $2.7 million increased by $0.4 million, or 19.2%, from the prior-year quarter

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FAQ

What were Commercial Bancgroup (CBK)'s Q2 2026 earnings?

Commercial Bancgroup reported Q2 2026 net income of $10.2 million, or $0.75 per common share. This compares with net income of $8.9 million, or $0.73 per share, in Q2 2025, and core net income was also $10.2 million, or $0.75 per share.

How did Commercial Bancgroup (CBK)'s core profitability metrics look in Q2 2026?

Core net income for Q2 2026 was $10.2 million, or $0.75 per share. Key ratios included return on average assets of 1.78%, return on average tangible common equity of 14.26%, net interest margin of 4.06%, and an efficiency ratio of 44.99%.

What were Commercial Bancgroup (CBK)'s loan and deposit levels as of June 30, 2026?

As of June 30, 2026, Commercial Bancgroup had total assets of $2.4 billion, loans of $1.9 billion, and deposits of $1.9 billion. Loans grew $149.0 million, or 8.3%, year over year, while noninterest-bearing demand deposits reached $428.4 million.

How strong were Commercial Bancgroup (CBK)'s asset quality and reserves in Q2 2026?

Asset quality metrics were solid, with nonperforming assets at 0.31% of total assets and nonperforming loans at 0.34% of gross loans as of June 30, 2026. The allowance for credit losses stood at 0.96% of total loans and covered 281% of nonperforming loans.

What capital ratios did Commercial Bancgroup (CBK) report as of June 30, 2026?

As of June 30, 2026, Commercial Bancgroup reported a total shareholders’ equity to total assets ratio of 12.73% and tangible common equity to tangible assets of 12.33%. The Tier 1 leverage ratio was 12.70% and the total risk-based capital ratio was 15.48%.

What dividend did Commercial Bancgroup (CBK) declare for shareholders?

The board declared a quarterly cash dividend of $0.12 per share of common stock. The dividend is payable on September 30, 2026 to shareholders of record at the close of business on September 15, 2026.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 27, 2026

Commercial Bancgroup, Inc.

(Exact name of registrant as specified in its charter)

Tennessee		001-42889		62-1039469
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

6710 Cumberland Gap Parkway

Harrogate, Tennessee 37752

(Address of principal executive offices) (Zip code)

(423) 869-5151

(Registrant’s telephone number, including area code)

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17-CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17-CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol		Name of each exchange on which registered
Common Stock, $0.01 par value per share		CBK		The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition.

On July 27, 2026, Commercial Bancgroup, Inc., a Tennessee corporation (the “Company”), issued a press release announcing its financial results for the quarter ended June 30, 2026 (the “Earnings Release”). A copy of the Earnings Release is included as Exhibit 99.1 to this Current Report on Form 8-K (this “Report”) and is incorporated herein by reference.

In conjunction with the Earnings Release, the Company also made available an investor presentation of results for the quarter ended June 30, 2026 (the “Presentation”). The Presentation, which is available under the “Investors” section of the Company’s website, located at https://www.cbtn.com/, is included as Exhibit 99.2 to this Report and is incorporated herein by reference. Information on the Company’s website is not, and will not be deemed to be, a part of this Report or incorporated into any other filings the Company may make with the U.S. Securities and Exchange Commission.

The information contained in Item 2.02, including the accompanying exhibits, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities under that section, nor shall it be deemed incorporated by reference into any filing of the Company under the Securities Act of 1933, as amended (the “Securities Act”), or the Exchange Act.

Item 7.01 Regulation FD Disclosure.

On July 27, 2026, the board of directors of the Company declared a quarterly cash dividend of $0.12 per share of the Company’s common stock (the “Dividend”) payable on September 30, 2026, to shareholders of record as of the close of business on September 15, 2026.

The Company’s press release announcing the Dividend is attached as Exhibit 99.3 to this Report and is incorporated herein by reference.

The information contained in this Item 7.01, including Exhibit 99.3 attached hereto, shall not be deemed “filed” for purposes of Section 18 of the Exchange Act or otherwise subject to the liabilities under that section, nor shall it be deemed incorporated by reference into any filing of the Company under the Securities Act or the Exchange Act, except as expressly set forth by specific reference in such a filing.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit		Description
99.1		Press release of Commercial Bancgroup, Inc., dated July 27, 2026.
99.2		Investor Presentation of Commercial Bancgroup, Inc., dated July 27, 2026.
99.3		Press release of Commercial Bancgroup, Inc., dated July 27, 2026, announcing the declaration of a quarterly cash dividend.
104		Cover Page Interactive Data File (embedded within the Inline XBRL document).

1

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	COMMERCIAL BANCGROUP, INC.
Date: July 27, 2026	By:	/s/ Terry L. Lee
		Terry L. Lee
		President and Chief Executive Officer

2

Exhibit 99.1

Commercial Bancgroup, Inc. Announces Results for the Second Quarter 2026

HARROGATE, TN –July 27, 2026 – Commercial Bancgroup, Inc. (“Commercial” or the “Company”) (Nasdaq: CBK), the parent company of Commercial Bank (the “Bank”), today announced net income of $10.2 million, or $0.75 per common share, for the second quarter of 2026, compared to net income of $8.9 million, or $0.73 per common share, for the second quarter of 2025. Core (net of any one-time adjustments) net income was $10.2 million, or $0.75 per common share, for the second quarter of 2026, compared to core net income of $9.1 million, or $0.75 per common share, for the second quarter of 2025.

Prior to Commercial’s initial public offering (“IPO”) of its common stock in October 2025, Commercial had three classes of common stock outstanding: common stock, Class B common stock, and Class C common stock. On September 18, 2025, Commercial’s charter was amended and restated. The Company’s amended and restated charter provided for, among other things:

● effective upon the filing of the amended and restated charter, the reclassification and conversion of (i) each outstanding share of Class B common stock into 1.15 shares of common stock and (ii) each outstanding share of Class C common stock into 1.05 shares of common stock (collectively, the “Stock Reclassification”); and

● effective immediately following the Stock Reclassification, a 250-for-1 forward stock split in respect of the outstanding shares of our common stock (the “Stock Split”).

Our financial statements, including earnings per share and book value per share, reflect the stock Reclassification and Stock Split retroactively. Because the IPO occurred after September 30, 2025, the financial impacts of the IPO are reflected for the fourth quarter of 2025 in the financial statements presented in this press release.

Second Quarter 2026 Performance Highlights:

● Net income of $10.2 million or $0.75 per common share; Core net income of $10.2 million or $0.75 per common share (see non-GAAP reconciliation)

● Return on average assets (“ROAA”) of 1.78%; Core ROAA of 1.78% (see non-GAAP reconciliation)

● Return on average equity (“ROAE”) of 13.73%; Core ROAE of 13.73% (see non-GAAP reconciliation)

● Return on average tangible common equity (“ROATCE”) of 14.26%; Core ROATCE of 14.26% (see non-GAAP reconciliation)

● Net interest margin of 4.06%, an increase of 18 basis points from the first quarter of 2026

● Core efficiency ratio of 44.99% (see non-GAAP reconciliation)

● Loans outstanding net of deferred fees and discounts increased $48.4 million during the quarter, or 2.6% from the first quarter of 2026

● Book value per share increased $0.66, or 3.1%, to $22.09 and tangible book value per share increased $0.68, or 3.3%, to $21.28 at June 30, 2026 from $21.43 and $20.60, respectively, at March 31, 2026 (see non-GAAP reconciliation)

● Net charge-offs to average loans of 0.00% and nonperforming assets to total assets of 0.31%

Year-To-Date Highlights:

● Net income of $19.8 million or $1.44 per common share for the six months ended June 30, 2026, compared to $17.6 million or $1.44 per common share for the six months ended June 30, 2025

● ROAA of 1.72% for the six months ended June 30, 2026, compared to 1.55% for the six months ended June 30, 2025

● ROAE of 13.48% for the six months ended June 30, 2026, compared to 15.71% for the six months ended June 30, 2025

● Total operating revenue of $47.2 million for the six months ended June 30, 2026, compared to $44.1 million for the six months ended June 30, 2025

● Non-interest expense of $22.0 million for the six months ended June 30, 2026, compared to $21.3 million for the six months ended June 30, 2025

● Book value per share of $22.09 as of June 30, 2026, compared to $19.22 as of June 30, 2025

● Tangible book value per share of $21.28 as of June 30, 2026, compared to $18.22 as of June 30, 2025 (see non-GAAP reconciliation)

● Core efficiency ratio of 45.2% for the six months ended June 30, 2026, compared to 47.7% for the six months ended June 30, 2025 (see non-GAAP reconciliation)

Balance Sheet Trends

Total assets were $2.4 billion as of June 30, 2026, compared to $2.3 billion as of June 30, 2025.

Loans outstanding net of deferred fees and discounts were $1.9 billion as of June 30, 2026, an increase of $149.0 million, or 8.3%, from June 30, 2025.

As of June 30, 2026, the Bank exceeded the minimum requirements to be well-capitalized for bank regulatory purposes, with a total risk-based capital ratio of 14.0%, a Tier 1 risk-based capital ratio of 13.0%, a common equity Tier 1 capital ratio of 13.0%, and a Tier 1 leverage ratio of 11.6%.

Total deposits were $1.9 billion as of June 30, 2026, an increase of $21.9 million, or 1.2%, from June 30, 2025.

Noninterest bearing demand deposits increased $12.7 million, or 3.0%, to $428.4 million as of June 30, 2026, from $415.7 million as of June 30, 2025.

Non-brokered deposits were $1.8 billion as of June 30, 2026, an increase of $91.8 million, or 5.3%, from June 30, 2025. This increase was primarily driven by normal customer business cycles and deposit growth.

Asset quality declined slightly with nonperforming assets to total assets of 0.31% as of June 30, 2026 as compared to 0.30% as of June 30, 2025. The allowance for credit losses to total loans decreased to 0.96% as of June 30, 2026 from 1.00% as of June 30, 2025.

Net Income Before Income Taxes

Net income before income taxes was $12.9 million for the three months ended June 30, 2026, an increase of $1.3 million, or 11.6%, from the three months ended June 30, 2025. The increase was primarily the result of an increase in net interest income after provision for credit losses of $1.1 million or 5.3% and an increase in non-interest income of $0.4 million or 19.2%.

These increases were offset by an increase of noninterest expense of $0.1 million or 1.4%.

Non-Interest Income

Non-interest income was $2.7 million for the three months ended June 30, 2026, an increase of $0.4 million, or 19.2%, as compared to the three months ended June 30, 2025. This increase was primarily due to an increase in customer service and ATM fees.

2

About Commercial Bancgroup, Inc.

Commercial Bancgroup, Inc. is a bank holding company headquartered in Harrogate, Tennessee. Through our wholly owned subsidiary, Commercial Bank, a Tennessee state-chartered bank, we offer a suite of traditional consumer and commercial banking products and services to businesses and individuals in select markets in Kentucky, North Carolina, and Tennessee. More information about Commercial can be found on its website at www.cbtn.com.

Commercial Bancgroup, Inc.

Financial Tables

Financial Highlights (unaudited) Table 1A

		For the Three Months Ended																				As of and for the Six Months Ended
(dollars in thousands except per share amounts)		June 30, 2026				March 31, 2026				December 31, 2025				September 30, 2025				June 30, 2025				June 30, 2026				June 30, 2025
Selected Operating Data:
Interest and Dividend Income		$	30,154			$	29,463			$	29,958			$	30,021			$	30,859			$	59,617			$	61,625
Interest Expense			8,639				8,985				9,148				9,799				10,800				17,624				22,226
Net Interest Income			21,515				20,478				20,810				20,222				20,059				41,993				39,399
Provision for Credit Losses			399				122				463				-				-				521				-
Net Interest Income After Provision for Credit Losses			21,116				20,356				20,347				20,222				20,059				41,472				39,399
Noninterest Income			2,650				2,591				2,667				2,626				2,224				5,241				4,667
Noninterest Expense			10,872				11,087				10,623				10,552				10,725				21,959				21,306
Income Before Income Taxes			12,894				11,860				12,391				12,296				11,558				24,754				22,760
Provision for Income Taxes			2,678				2,326				2,224				2,829				2,658				5,004				5,168
Net Income			10,216				9,534				10,167				9,467				8,900				19,750				17,592
Less: Net Income Attributable to Noncontrolling Interest			-				-				-				-				-				-				-
Net Income attributable to Commercial Bancgroup, Inc.			10,216				9,534				10,167				9,467				8,900				19,750				17,592
Add: Non-recurring Expense Net of Taxes			-				470				-				-				226				470				231
Core Net Income (1)			10,216				10,004				10,167				9,467				9,126				20,220				17,823

(1) Considered non-GAAP financial measure - See “Non-GAAP Financial Measures” and reconciliation of non-GAAP financial measures at table 10

3

Financial Highlights (unaudited)

		For the Three Months Ended																				As of and for the Six Months Ended
		June 30, 2026				March 31, 2026				December 31, 2025				September 30, 2025				June 30, 2025				June 30, 2026				June 30, 2025
Share and Per Share Data:
Basic earnings per share		$	0.75			$	0.70			$	0.74			$	0.77			$	0.73			$	1.44			$	1.44
Diluted earnings per share		$	0.74			$	0.70			$	0.74			$	0.77			$	0.73			$	1.44			$	1.44
Core (net of any one-time adjustments) net income per share (1)		$	0.75			$	0.73			$	0.74			$	0.77			$	0.75			$	1.48			$	1.46
Book value per share		$	22.09			$	21.43			$	20.83			$	20.03			$	19.22			$	22.09			$	19.22
Tangible book value per share (1)		$	21.28			$	20.60			$	19.98			$	19.05			$	18.22			$	21.28			$	18.22
Shares of common stock outstanding			13,701,270				13,697,987				13,697,987				12,239,644				12,239,644				13,701,270				12,239,644
Weighted average common shares outstanding			13,700,296				13,697,987				13,697,987				12,239,644				12,239,644				13,699,148				12,188,624
Weighted average diluted shares outstanding			13,722,727				13,712,162				13,704,030				12,240,568				12,239,644				13,721,579				12,188,624

(1) Considered non-GAAP financial measure - See “Non-GAAP Financial Measures” and reconciliation of non-GAAP financial measures at table 10

4

Financial Highlights (unaudited)

		As of and for the Three Months Ended																				As of and for the Six Months Ended
(dollars in thousands)		June 30, 2026				March 31, 2026				December 31, 2025				September 30, 2025				June 30, 2025				June 30, 2026				June 30, 2025
Selected Balance Sheet Data:
Total assets		$	2,376,584			$	2,328,789			$	2,291,455			$	2,214,408			$	2,262,511			$	2,376,584			$	2,262,511
Securities available-for-sale at fair value			38,553				42,175				43,137				29,556				30,113				38,553				30,113
Securities held-to-maturity, at carrying value, net of allowance for credit losses			94,343				96,387				97,728				131,915				157,452				94,343				157,452
Loans outstanding net of deferred fees and discounts			1,940,536				1,892,174				1,873,533				1,767,193				1,791,516				1,940,536				1,791,516
Allowance for credit losses			18,722				18,329				18,096				17,942				17,989				18,722				17,989
Goodwill and other intangible assets			12,012				12,392				12,767				13,149				13,546				12,012				13,546
Total deposits			1,873,172				1,892,217				1,815,734				1,780,634				1,851,248				1,873,172				1,851,248
Core deposits (1)			1,709,887				1,744,967				1,663,931				1,630,897				1,628,181				1,709,887				1,628,181
Other borrowings			175,817				118,248				166,838				162,760				148,509				175,817				148,509
Total Shareholders’ equity			302,618				293,518				285,344				245,153				235,268				302,618				235,268

(1) Considered non-GAAP financial measure - See “Non-GAAP Financial Measures” and reconciliation of non-GAAP financial measures at table 10

5

Financial Highlights (unaudited) Table 1B

		As of and for the Three Months Ended																				As of and for the Six Months Ended
(dollars in thousands)		June 30, 2026				March 31, 2026				December 31, 2025				September 30, 2025				June 30, 2025				June 30, 2026				June 30, 2025
Performance Ratios:
Pre-tax pre-provision net income (PPNI) (1)		$	13,293			$	11,982			$	12,854			$	12,296			$	11,558			$	25,275			$	22,760
Return on average assets (ROAA)			1.78				1.66				1.81				1.74				1.57				1.72				1.55
Return on average equity (ROAE)			13.73				13.22				15.46				15.81				15.57				13.48				15.71
Core return on average assets (ROAA)(1)			1.78				1.74				1.81				1.74				1.62				1.76				1.57
Return on average tangible common equity (ROATCE) (1)			14.26				13.76				16.40				16.65				16.43				14.02				16.94
Net interest rate spread			3.44				3.27				3.34				3.32				3.11				3.35				3.07
Net interest margin			4.06				3.88				4.01				4.02				3.84				3.97				3.73
Cost of Funds			1.75				1.82				1.88				2.07				2.18				1.78				2.21
Efficiency ratio			44.99				48.06				45.25				46.18				48.13				46.49				48.35
CORE efficiency ratio (1)			44.99				45.45				45.25				46.18				46.78				45.21				47.65
Noninterest income to average assets			0.46				0.45				0.47				0.48				0.39				0.46				0.41
Noninterest expense to average assets			1.89				1.93				1.87				1.94				1.91				1.91				1.88
Average interest-earning assets to average interest-bearing liabilities			1.38				1.36				1.38				1.36				1.31				1.37				1.31
Average equity to average total assets			0.13				0.13				0.12				0.11				0.10				0.13				0.10

(1) Considered non-GAAP financial measure - See “Non-GAAP Financial Measures” and reconciliation of non-GAAP financial measures at table 10

Financial Highlights (unaudited)

		As of and for the Three Months Ended																				As of and for the Six Months Ended
		June 30, 2026				March 31, 2026				December 31, 2025				September 30, 2025				June 30, 2025				June 30, 2026				June 30, 2025
Asset Quality Data:
Net charge-offs to average loans			0.00	%			0.01	%			0.01	%			0.00	%			0.01	%			-0.01	%			0.01	%
Total allowance for credit losses to total loans			0.96	%			0.97	%			0.97	%			1.02	%			1.00	%			0.96	%			1.00	%
Total allowance for credit losses to nonperforming loans			281	%			313	%			290	%			333	%			307	%			281	%			307	%
Nonperforming loans to gross loans			0.34	%			0.31	%			0.33	%			0.31	%			0.33	%			0.34	%			0.33	%
Nonperforming assets to total assets			0.31	%			0.28	%			0.28	%			0.27	%			0.30	%			0.31	%			0.30	%

6

Financial Highlights (unaudited)

		As of and for the Three Months Ended																				As of and for the Six Months Ended
		June 30, 2026				March 31, 2026				December 31, 2025				September 30, 2025				June 30, 2025				June 30, 2026				June 30, 2025
Balance Sheet and Capital Ratios (Commercial Bancgroup, Inc.):
Loan-to-deposit ratio			102.60	%			99.03	%			102.19	%			98.24	%			95.80	%			102.60	%			95.80	%
Noninterest bearing deposits to total deposits			22.87	%			21.22	%			21.91	%			22.39	%			22.53	%			22.87	%			22.53	%
Total shareholders’ equity to total assets			12.73	%			12.60	%			12.45	%			11.07	%			10.40	%			12.73	%			10.40	%
Tangible common equity to tangible assets (1)			12.33	%			12.18	%			12.01	%			10.59	%			9.92	%			12.33	%			9.92	%
Tier 1 leverage ratio			12.70	%			12.32	%			12.19	%			11.03	%			10.22	%			12.70	%			10.22	%
Common equity tier 1 ratio			14.55	%			14.73	%			14.99	%			12.83	%			12.26	%			14.55	%			12.26	%
Total risk-based capital ratio			15.48	%			15.68	%			15.96	%			14.12	%			13.55	%			15.48	%			13.55	%
Other
Number of branches			34				34				34				34				34				34				34
Number of full-time equivalent employees			293				287				287				287				289				293				289

(1) Considered non-GAAP financial measure - See “Non-GAAP Financial Measures” and reconciliation of non-GAAP financial measures at table 10

7

Quarter End Balance Sheets (unaudited) Table 2

(dollars in thousands)		June 30, 2026				March 31, 2026				December 31, 2025				September 30, 2025				June 30, 2025
Assets
Cash and due from banks		$	161,327			$	151,610			$	118,989			$	122,945			$	108,501
Federal funds sold			8,787				16,784				25,329				31,841				42,782
Investment securities			132,896				138,562				140,865				161,471				187,565
Gross loans less deferred fees and discounts			1,940,536				1,892,174				1,873,533				1,767,193				1,791,516
Allowance for credit losses			(18,722	)			(18,329	)			(18,096	)			(17,942	)			(17,989	)
Loans, net of allowance for credit losses			1,921,813				1,873,845				1,855,437				1,749,251				1,773,527
Premises and equipment, net			50,145				49,445				49,765				50,268				50,337
Foreclosed assets held for sale, net			755				575				253				533				861
Bank owned life insurance			46,619				46,469				46,648				46,482				46,480
Goodwill and other intangible assets			12,012				12,392				12,767				13,149				13,546
Deferred tax asset			1,076				1,056				1,003				1,427				1,029
Other			41,153				38,049				40,399				37,041				37,883
Total Assets		$	2,376,584			$	2,328,789			$	2,291,455			$	2,214,408			$	2,262,511
Liabilities and Shareholders’ Equity
Liabilities
Deposits
Demand			942,633				973,678				913,986				928,958				926,886
Savings, NOW and money market			413,904				415,132				414,716				382,002				382,788
Time			516,635				503,408				487,032				469,674				541,574
Total deposits			1,873,172				1,892,217				1,815,734				1,780,634				1,851,248
Short-term borrowings			102,570				45,068				88,251				62,663				46,300
Long-term debt			73,247				73,181				78,587				100,097				102,209
Interest Payable			2,575				2,644				2,962				3,410				4,545
Other Liabilities			22,402				22,161				20,576				22,451				22,941
Total Liabilites			2,073,966				2,035,271				2,006,110				1,969,255				2,027,243
Shareholders’ Equity
Common stock			137				137				137				122				122
Additional paid-in capital			38,683				38,536				38,377				8,406				8,406
Retained earnings			264,515				255,670				247,505				237,366				227,900
Accumulated other comprehensive loss			(717	)			(825	)			(675	)			(741	)			(1,160	)
Total Shareholders’ equity			302,618				293,518				285,344				245,153				235,268
Total liabilities and shareholders’ equity		$	2,376,584			$	2,328,789			$	2,291,454			$	2,214,408			$	2,262,511

8

Statement of Operations (unaudited) Table 3

		For the Three Months Ended																				As of and for the Six Months Ended
(dollars in thousands)		June 30, 2026				March 31, 2026				December 31, 2025				September 30, 2025				June 30, 2025				June 30, 2026				June 30, 2025
Interest and Dividend Income
Loans, including fees		$	28,396			$	27,675			$	27,866			$	28,074			$	28,432			$	56,071			$	56,362
Debt securities-taxable			832				838				739				929				1,070				1,670				2,045
Debt securities-tax-exempt			109				114				114				102				116				223				226
Dividends on restricted stock			151				147				157				156				148				298				308
Interest-bearing deposits			666				689				1,082				760				1,093				1,355				2,684
Total interest and dividend income			30,154				29,463				29,958				30,021				30,859				59,617				61,625
Interest expense
Deposits			8,032				8,315				8,441				8,654				9,717				16,347				20,011
Short-term borrowings			40				47				18				55				44				87				75
Long-term debt			567				623				689				1,090				1,039				1,190				2,140
Total interest expense			8,639				8,985				9,148				9,799				10,800				17,624				22,226
Net interest income			21,515				20,478				20,810				20,222				20,059				41,993				39,399
Provision for credit losses			399				122				463				-				-				521				-
Net interest income after provision for credit losses			21,116				20,356				20,347				20,222				20,059				41,472				39,399
Noninterest Income
Customer service fees			774				781				779				735				674				1,555				1,329
Net gains on sales of premises and equipment			30				-				44				20				32				30				4
Net gains on sales of foreclosed assets			-				107				48				110				-				107				3
ATM fees			977				854				877				846				892				1,831				1,691
Increase in BOLI			315				312				342				306				336				627				644
Other			554				537				577				609				290				1,091				996
Total noninterest income			2,650				2,591				2,667				2,626				2,224				5,241				4,667

9

		For the Three Months Ended																				As of and for the Six Months Ended
(dollars in thousands)		June 30, 2026				March 31, 2026				December 31, 2025				September 30, 2025				June 30, 2025				June 30, 2026				June 30, 2025
Noninterest Expense
Salaries and employee benefits		$	5,683			$	5,716			$	5,753			$	5,729			$	5,657			$	11,399			$	11,283
Occupancy			856				843				877				738				916				1,699				1,791
Data processing			1,099				1,101				1,068				1,103				1,151				2,200				2,358
Deposit insurance premiums			202				242				234				267				245				444				471
Professional fees			440				209				229				136				286				649				481
Depreciation and amortization			942				933				1,001				955				803				1,875				1,751
Other			1,650				1,440				1,461				1,624				1,667				3,090				3,171
Loss on retirement of debt			-				603				-				-				-				603				-
Total noninterest expense			10,872				11,087				10,623				10,552				10,725				21,959				21,306
Income before income taxes			12,894				11,860				12,391				12,296				11,558				24,754				22,760
Provision for income taxes			2,678				2,326				2,224				2,829				2,658				5,004				5,168
Net Income			10,216				9,534				10,167				9,467				8,900				19,750				17,592
Less: Net Income Attributable to Noncontrolling Interest			-				-				-				-				-				-				-
Net Income attributable to Commercial Bancgroup, Inc.		$	10,216			$	9,534			$	10,167			$	9,467			$	8,900			$	19,750			$	17,592

10

QTD Average Balances and Yields/Rates (unaudited) Table 4

		Three Months Ended
		June 30, 2026												March 31, 2026												December 31, 2025
(dollars in thousands)		Average Balance				Interest				Yield/ Rate				Average Balance				Interest				Yield/ Rate				Average Balance				Interest				Yield/ Rate
Interest Earning Assets
Gross loans, net of unearned income		$	1,902,119			$	28,396				6.0	%		$	1,883,103			$	27,675				5.9	%		$	1,807,127			$	27,866				6.2	%
Investment securities			138,726				1,092				3.1	%			140,223				1,099				3.1	%			152,782				1,010				2.6	%
Other interest-earning assets			77,015				666				3.5	%			85,953				689				3.2	%			116,517				1,082				3.7	%
Total interest-earning assets			2,117,860				30,154				5.7	%			2,109,279				29,463				5.6	%			2,076,426				29,958				5.8	%
Noninterest-earning assets:
Allowance for credit losses			(18,497	)											(18,283	)											(17,954	)
Noninterest-earning assets			202,388												205,119												190,810
Total Assets			2,301,751												2,296,115												2,249,282
Interest-bearing liabilities:
Interest-bearing DDAs			540,531				2,501				1.9	%			575,981				2,809				2.0	%			518,495				2,647				2.0	%
NOW, savings and MMDA deposits			417,468				1,415				1.4	%			412,533				1,425				1.4	%			427,419				1,585				1.5	%
Time Deposits			494,379				4,116				3.3	%			479,804				4,081				3.4	%			475,972				4,209				3.5	%
Federal Home Loan bank advances			60,270				452				3.0	%			60,522				467				3.1	%			60,781				444				2.9	%
Other borrowings			18,050				155				3.4	%			20,355				203				4.0	%			24,953				263				4.2	%
Total interest-bearing liabilities			1,530,698				8,639				2.3	%			1,549,195				8,985				2.3	%			1,507,620				9,148				2.4	%
Noninterest bearing liabilites:
Noninterest bearing deposits			444,701												430,842												434,578
Other liabilities			28,723												27,593												47,299
Total noninterest bearing liabilities			473,424												458,435												481,877
Shareholders’ equity			297,631												288,485												259,785
Total liabilities and shareholders’s equity			2,301,753												2,296,115												2,249,282
Net interest income							21,515												20,478												20,810
Net interest spread											3.44	%											3.27	%											3.40	%
Net interest margin											4.06	%											3.88	%											4.01	%
Cost interest bearing deposits											1.69	%											1.75	%											1.82	%
Cost of funds											1.75	%											1.82	%											1.88	%

11

YTD Average Balances and Yields/Rates (unaudited) Table 5

		Six Months Ended
		June 30, 2026												June 30, 2025
(dollars in thousands)		Average Balance				Interest				Yield/ Rate				Average Balance				Interest				Yield/ Rate
Interest Earning Assets
Gross loans, net of unearned income			1,892,611				56,071				5.9	%			1,795,846				56,362				6.3	%
Investment securities			139,475				2,191				3.1	%			186,623				2,579				2.8	%
Other interest-earning assets			81,484				1,355				3.3	%			128,525				2,684				4.2	%
Total interest-earning assets			2,113,570				59,617				5.6	%			2,110,994				61,625				5.8	%
Noninterest-earning assets:
Allowance for credit losses			(18,390	)											(18,242	)
Noninterest-earning assets			203,754												176,107
Total Assets			2,298,934												2,268,859
Interest-bearing liabilities:
Interest-bearing DDAs			558,256				5,310				1.9	%			552,539				6,277				2.3	%
NOW, savings and MMDA deposits			415,001				2,840				1.4	%			388,331				2,922				1.5	%
Time Deposits			487,092				8,197				3.4	%			557,517				10,813				3.9	%
Federal Home Loan bank advances			60,396				919				3.0	%			63,534				74				0.2	%
Other borrowings			19,203				358				3.7	%			44,774				2,140				9.6	%
Total interest-bearing liabilities			1,539,948				17,624				2.3	%			1,606,695				22,226				2.8	%
Noninterest bearing liabilites:
Noninterest bearing deposits			437,772												401,935
Other liabilities			28,158												36,319
Total noninterest bearing liabilities			465,930												438,254
Shareholders’ equity			293,058												223,912
Total liabilities and shareholders’s equity			2,298,936												2,268,861
Net interest income							41,993												39,399
Net interest spread											3.35	%											3.07	%
Net interest margin											3.97	%											3.73	%
Cost of total deposits											1.72	%											2.11	%
Cost of total funding											1.78	%											2.21	%

12

Loan Data (unaudited) Table 6

		As of Quarter Ended
		June 30, 2026								March 31, 2026								December 31, 2025								September 30, 2025								June 30, 2025
(dollars in thousands)		Amount				% of Total				Amount				% of Total				Amount				% of Total				Amount				% of Total				Amount				% of Total
Real Estate Loans Commercial		$	1,140,480				59	%		$	1,114,516				59	%		$	1,113,440				59	%		$	1,002,192				57	%		$	1,016,229				57	%
Construction and land development			201,781				10	%			195,189				10	%			176,688				9	%			201,399				11	%			189,187				11	%
Residential			387,142				20	%			383,346				20	%			377,943				20	%			376,769				21	%			376,442				21	%
Other			18,336				1	%			14,511				1	%			14,824				1	%			14,831				1	%			15,290				1	%
Commercial			179,935				9	%			171,029				9	%			174,248				9	%			154,732				9	%			178,832				10	%
Consumer and other			19,535				1	%			19,497				1	%			22,867				1	%			23,651				1	%			22,408				1	%
Total loans			1,947,209				100	%			1,898,088				100	%			1,880,010				100	%			1,773,574				100	%			1,798,388				100	%
Deferred loan fees and discounts			6,673								5,914								6,477								6,381								6,872
Allowance for credit
Losses			18,722								18,329								18,096								17,942								17,989
Loans, net			1,921,813								1,873,845								1,855,437								1,749,251								1,773,527

13

Nonperforming Assets (unaudited) Table 7

		As of the Quarter Ended
(dollars in thousands)		June 30, 2026				March 31, 2026				December 31, 2025				September 30, 2025				June 30, 2025
Nonaccrual loans		$	6,661			$	5,861			$	6,245			$	5,390			$	5,846
Past due loans 90 days and still accruing			-				-				-				-				6
Total nonperforming loans			6,661				5,861				6,245				5,390				5,852
Other real estate owned			755				575				253				533				861
Total nonperforming assets		$	7,416			$	6,436			$	6,498			$	5,923			$	6,713
Allowance for credit losses		$	18,722			$	18,329			$	18,096			$	17,942			$	17,989
Total loans outstanding at end of period net of deferred loan fees and discounts		$	1,940,536			$	1,892,174			$	1,873,533			$	1,767,193			$	1,791,516
Nonperforming loans to total loans			0.34	%			0.31	%			0.33	%			0.31	%			0.33	%
Nonperforming assets to total loans and OREO			0.38	%			0.34	%			0.35	%			0.34	%			0.37	%
Allowance for credit losses to nonperforming loans			281	%			313	%			290	%			333	%			307	%
Allowance for credit losses to total loans			0.96	%			0.97	%			0.97	%			1.02	%			1.00	%
Nonaccrual loans to total assets			0.28	%			0.25	%			0.27	%			0.24	%			0.26	%
Nonperforming assets to total assets			0.31	%			0.28	%			0.28	%			0.27	%			0.30	%

14

Allowance for credit losses (unaudited) Table 8

		As of and for the Three Months Ended																				As of and for the Six Months Ended
(dollars in thousands)		June 30,  2026				March 31, 2026				December 31, 2025				September 30, 2025				June 30, 2025				June 30, 2026				June 30, 2025
Average loans outstanding		$	1,902,136			$	1,883,103			$	1,807,127			$	1,767,379			$	1,794,477			$	1,892,611			$	1,795,846
Total loans outstanding at end of period net of deferred loan fees and discounts			1,940,536				1,892,174				1,873,533				1,767,193				1,791,516				1,940,536				1,791,516
ACL balance, beginning of period			18,329				18,096				17,942				17,989				18,109				18,096				18,205
Charge-offs:
Commercial real estate			-				-				(284	)			-				(18	)			-				(18	)
Construction and land development			-				-				-				-				-				-				-
Residential real estate			-				-				-				-				(121	)			-				(121	)
Commercial			-				-				(48	)			-				-				-				(314	)
Consumer and other			(18	)			(15	)			(13	)			(186	)			(34	)			(33	)			(51	)
Total charge-offs			(18	)			(15	)			(345	)			(186	)			(173	)			(33	)			(504	)
Recoveries:
Commercial real estate			-				114				-				108				33				114				43
Construction and land development			-				-				-				-				-				-				202
Residential real estate			1				-				20				26				2				1				18
Commercial			1				1				7				1				3				2				3
Consumer and other			5				11				56				4				15				16				22
Total recoveries			7				126				83				139				53				133				288
Net (charge-offs) recoveries			(11	)			111				(262	)			(47	)			(120	)			100				(216	)
Provision for credit losses			404				122				416				-				-				526				-
ACL balance at end of period		$	18,722			$	18,329			$	18,096			$	17,942			$	17,989			$	18,722			$	17,989
Ratio of allowance to end of period loans			0.96	%			0.97	%			0.97	%			1.02	%			1.00	%			0.96	%			1.00	%
Ratio of net (charge-offs) recoveries to average loans			0.00	%			0.01	%			-0.01	%			0.00	%			-0.01	%			0.01	%			-0.01	%

15

Loan Risk Ratings (unaudited) Table 9

		As of the Quarter Ended
(dollars in thousands)		June 30, 2026				March 31, 2026				December 31, 2025				September 30, 2025				June 30, 2025
Real Estate Loans
Commercial
Pass		$	1,131,324			$	1,105,529			$	1,104,532			$	999,788			$	1,012,190
Special mention			8,835				8,897				8,814				1,776				2,515
Substandard			321				90				94				628				1,524
Total Commercial		$	1,140,480			$	1,114,516			$	1,113,440			$	1,002,192			$	1,016,229
Construction and land development
Pass		$	201,389			$	194,983			$	176,014			$	201,363			$	189,149
Special mention			359				171				78				-				-
Substandard			32				35				596				36				38
Total Construction and land development		$	201,781			$	195,189			$	176,688			$	201,399			$	189,187
Residential
Pass		$	380,157			$	377,179			$	371,583			$	371,226			$	371,353
Special mention			631				545				833				838				849
Substandard			6,354				5,622				5,527				4,705				4,240
Total Residential		$	387,142			$	383,346			$	377,943			$	376,769			$	376,442
Other
Pass		$	18,336			$	14,511			$	14,824			$	14,831			$	15,290
Special mention			-				-				-				-				-
Substandard			-				-				-				-				-
Total Other		$	18,336			$	14,511			$	14,824			$	14,831			$	15,290
Commercial
Pass		$	179,002			$	170,093			$	173,324			$	153,819			$	177,969
Special mention			685				701				793				733				747
Substandard			248				235				131				180				116
Total Commercial		$	179,934			$	171,029			$	174,248			$	154,732			$	178,832
Consumer and Other
Pass		$	19,423			$	19,399			$	22,768			$	23,616			$	22,367
Special mention			34				44				21				5				6
Substandard			78				54				79				30				36
Total Consumer		$	19,535			$	19,497			$	22,868			$	23,651			$	22,409
Total loans
Pass		$	1,929,632			$	1,881,694			$	1,863,045			$	1,764,643			$	1,788,318
Special mention			10,543				10,358				10,539				3,352				4,117
Substandard			7,034				6,036				6,427				5,579				5,954
Total Gross loans		$	1,947,209			$	1,898,088			$	1,880,011			$	1,773,574			$	1,798,389

16

Non-GAAP Financial Measures

This press release contains certain financial measure(s) that are not financial measure(s) recognized under generally accepted accounting principles in the U.S. (“GAAP”) and, therefore, are considered non-GAAP financial measure(s) and should be read along with the accompanying reconciliation of non-GAAP financial measure(s) to GAAP financial measure(s). We use non-GAAP financial measures, certain of which are included in this press release, both to explain our operating results to shareholders and the investment community and to evaluate, analyze, and manage our business. We believe that these non-GAAP financial measures provide a better understanding of ongoing operations, enhance the comparability of results across periods, and enable investors to better understand our performance. Our management believes that the “core” metrics described below and used in this press release assist users of the Company’s financial statements with their financial analysis period-over-period as they exclude certain non-recurring items. However, non-GAAP financial measures should not be considered in isolation and should be considered supplemental in nature and not as a substitute for or superior to the most directly comparable or other financial measures calculated in accordance with GAAP. Additionally, the manner in which the non-GAAP financial measure(s) contained in this press release are calculated may differ from the manner in which measures with similar names are calculated by other companies. You should understand how other companies calculate their financial measures similar to, or with names similar to, the non-GAAP financial measure(s) contained in this press release when comparing such financial measures.

The non-GAAP financial measures in this press release include the following:

● Core deposits. We calculate core deposits by excluding jumbo time deposits (deposits greater than or equal to $250,000) from total deposits.

● Core net income. We define core net income as net income plus non-recurring expenses, net of the related tax effect of non-recurring expenses.

● Core net income per share. We define core net income per share as core net income divided by weighted average common shares outstanding.

● Core ROAA. We define core ROAA as core net income divided by average assets, with average assets based upon the average daily balance of total assets in each period.

● Core return on average tangible common equity. We define core return on average tangible common equity as core net income divided by total average shareholders’ equity less average intangible assets (goodwill and core deposit intangibles).

● Pre-tax pre-provision net income. We define pre-tax pre-provision net income as pre-tax net income plus provision for loan and lease losses.

● Core efficiency ratio. We define core efficiency ratio as noninterest expenses (less non-recurring expenses), divided by operating revenue (net interest plus total noninterest income). This ratio is an indicator used by our management to assess operating efficiencies and is intended to demonstrate how efficiently our management is controlling expenses relative to generating revenues on our core activities.

● Pre-tax, pre-provision ROAA. We define pre-tax, pre-provision ROAA as pre-tax, pre-provision net income divided by average assets calculated based upon the average daily balance of total assets in each year.

● Tangible assets. We define tangible assets as total assets less goodwill and other intangible assets.

● Return on average tangible common equity ROATCE. We define return on average tangible common equity ROATC as net income divided by average common equity calculated based as total average shareholders’ equity less average intangible assets net of tax benefit.

● Tangible book value per share. We define tangible book value per share as our tangible common equity, which is shareholders’ equity reduced by goodwill and other intangible assets, divided by diluted weighted average shares outstanding.

● Tangible common equity to tangible assets. We define tangible common equity to tangible assets as tangible common equity divided by tangible assets calculated based as total assets net of intangible assets.

17

The following table provides a reconciliation of the above non-GAAP financial measures to their most directly comparable financial measure presented in accordance with GAAP.

Non-GAAP Reconciliations (unaudited)

		As of and for the Three Months Ended																				As of and for the Six Months Ended
(dollars in thousands, except per share data)		June 30, 2026				March 31, 2026				December 31, 2025				September 30, 2025				June 30, 2025				June 30, 2026				June 30, 2025
Pre-Tax Pre-Provision Net Income:
Pre-tax income		$	12,894			$	11,860			$	12,391			$	12,296			$	11,558			$	24,754			$	22,760
Add: provision for loan and lease losses			399				122				463				-				-				521				-
Pre-tax pre-provision net income		$	13,293			$	11,982			$	12,854			$	12,296			$	11,558			$	25,275			$	22,760
Tangible Common Equity:
Shareholders’ equity		$	302,618			$	293,518			$	285,344			$	245,153			$	235,268				302,618				235,268
Less: non controlling interest																											-
Less: goodwill			8,511				8,511				8,511				8,511				8,511				8,511				8,511
Less: core deposit intangible (net of tax benefit)			2,594				2,875				3,164				3,448				3,744				2,594				3,744
Tangible common equity		$	291,513			$	282,132			$	273,669			$	233,194			$	223,013			$	291,513			$	223,013
Return on Average Tangible Common Equity:
Total average shareholders’ equity		$	297,631			$	288,485			$	259,784			$	239,473			$	227,883			$	293,058			$	223,912
Less: average intangible assets (net of tax benefit)			11,105				11,386				11,767				11,980				11,997			$	11,245				13,497
Less: average non controlling interest			-				-				-				-				-				-				2,701
Average common tangible equity			286,526				277,099				248,017				227,493				215,886				281,813				207,714
Net income to shareholders			10,216				9,534				10,167				9,467				8,900				19,750				17,592
Return on average common tangible equity			14.26	%			13.76	%			16.40	%			16.65	%			16.49	%			14.02	%			16.94	%
Tangible Book Value per Share:
Tangible common equity		$	291,513			$	282,132			$	273,669			$	233,194			$	223,013			$	291,513			$	223,013
Shares of common stock outstanding (weighted average)			13,700,296				13,697,987				13,697,987				12,239,644				12,239,644				13,699,148				12,188,624
Tangible book value per share, reported		$	21.28			$	20.60			$	19.98			$	19.05			$	18.22			$	21.28			$	18.22

18

						As of and for the Three Months Ended																As of and for the Six Months Ended
(dollars in thousands, except per share data)		June 30, 2026				March 31, 2026				December 31, 2025				September 30, 2025				June 30, 2025				June 30, 2026				June 30, 2025
Tangible Common Equity to Tangible Assets:
Tangible common equity		$	291,513			$	282,132			$	273,669			$	233,194			$	223,013			$	291,513			$	223,013
Total assets			2,376,584				2,328,789				2,291,455				2,214,408				2,262,511				2,376,584				2,262,511
Less: intangible assets			12,012				12,392				12,767				13,149				13,546				12,012				13,546
Tangible assets			2,364,572				2,316,397				2,278,688				2,201,258				2,248,965				2,364,572				2,248,965
Tangible common equity to tangible assets			12.33	%			12.18	%			12.01	%			10.59	%			9.92	%			12.33	%			9.92	%
Core Deposits:
Total Deposits		$	1,873,172			$	1,892,217			$	1,815,734			$	1,780,634			$	1,851,248			$	1,873,172				1,851,248
Less: Time deposits greater than $250,000			107,910				105,717				103,833				101,767				97,844				107,910				97,844
Less: Brokered deposits			55,375				41,533				47,970				47,970				125,223				55,375				125,223
Core deposits		$	1,709,887			$	1,744,967			$	1,663,931			$	1,630,897			$	1,628,181			$	1,709,887			$	1,628,181
Core Net Income:
Net income		$	10,216			$	9,534			$	10,167			$	9,467			$	8,900			$	19,750			$	17,592
Add: Non-recurring Expense			-				603				-				-				302				603				309
Less: tax effect			-				(133	)			-				-				(76	)			(133	)			(78	)
Core net income		$	10,216			$	10,004			$	10,167			$	9,467			$	9,126			$	20,220				17,823
Core Net Income per Share:
Core net income		$	10,216			$	10,004			$	10,167			$	9,467			$	9,126			$	20,220			$	17,823
Weighted average common shares outstanding			13,700,296				13,697,987				13,697,987				12,239,644				12,239,644				13,699,148				12,188,624
Core net income per share		$	0.75			$	0.73			$	0.74			$	0.77			$	0.75			$	1.48			$	1.46
Core Return on Average Assets:
Core net income		$	10,216			$	10,004			$	10,167			$	9,467			$	9,126			$	20,220			$	17,823
Average assets			2,301,752				2,296,115				2,249,282				2,170,869				2,248,134				2,298,934				2,268,859
Core return on average assets			1.78	%			1.74	%			1.81	%			1.74	%			1.62	%			1.76	%			1.57	%
Core Return on Average Tangible Common Equity:
Average tangible common equity		$	286,526			$	277,099			$	248,017			$	227,493			$	215,886			$	281,813			$	207,714
Core net income			10,216				10,004				10,167				9,467				9,126				20,220				17,823
Core return on average tangible common equity			14.26	%			14.44	%			16.40	%			16.65	%			16.91	%			14.35	%			17.16	%
Core Efficiency Ratio:
Add: net interest income		$	21,515			$	20,478			$	20,810			$	20,222			$	20,059			$	41,993			$	39,399
Add: non interest income			2,650				2,591				2,667				2,626				2,224				5,241				4,667
Operating revenue		$	24,165			$	23,069			$	23,477			$	22,848			$	22,283			$	47,234				44,066
Total noninterest expenses			10,872				11,087				10,623				10,552				10,725				21,959				21,306
Less: non-recurring expenses			-				603				-				-				302				603				309
Core noninterest expenses			10,872				10,484				10,623				10,552				10,423				21,356				20,997
Core efficiency ratio			44.99	%			45.45	%			45.25	%			46.18	%			46.78	%			45.21	%			47.65	%
Efficiency ratio			44.99	%			48.06	%			45.25	%			46.18	%			48.13	%			46.49	%			48.35	%

19

Contacts

Philip J. Metheny

Sr. Executive Vice President, Chief Financial Officer

Commercial Bancgroup, Inc.

ir@cbtn.com

423-869-5151

Roger Mobley

Executive Vice President, Chief Financial Officer

Commercial Bank

ir@cbtn.com

704-648-0185

Source

Commercial Bancgroup, Inc.

20

Exhibit 99.2

2Q26 Earnings Presentation July 27, 2026 COMMERCIAL BANCGROUP, INC.

2 Important Notices and Disclaimers Use of Defined Terms As used in this presentation, the terms "Company," "Commercial," "we," "our," and "us" refer to Commercial Bancgroup, Inc., a Tennessee corporation. The term "Bank" refers to Commercial Bank, the Company's wholly owned bank subsidiary. Forward-Looking Statements This presentation contains statements that constitute "forward-looking statements" within the meaning of the U.S. federal securities laws. The statements in this presentation that are not purely historical facts, including statements regarding our growth strategy, our strategic focus and vision, and the scalability of our business model, are forward-looking statements. These forward-looking statements are generally identified by the use of forward-looking terminology, including the terms "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "will," "would" and, in each case, their negative or other variations or comparable terminology and expressions. You should not place undue reliance on these forward-looking statements as actual future results may differ materially from those expressed or implied by any forward-looking statement. These forward-looking statements are subject to known and unknown risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed in or implied by any forward-looking statements, including but not limited to: (1) business and economic conditions nationally, regionally, and in our target markets, particularly in Kentucky, North Carolina, and Tennessee and the particular geographic areas in which we operate; (2) the level of, or changes in the level of, interest rates and inflation, including the effects thereof on our earnings and financial condition and the market value of our investment securities and loan portfolios; (3) the concentration of our loan portfolio in real estate loans and changes in the prices, values, and sales volumes of commercial and residential real estate; (4) the concentration of our business within our geographic areas of operation in Kentucky, North Carolina, and Tennessee and neighboring markets; (5) credit and lending risks associated with our commercial real estate, commercial, and construction and land development loan portfolios; (6) risks associated with our focus on lending to small and medium- sized businesses; (7) our ability to maintain important deposit customer relationships, maintain our reputation, or otherwise avoid liquidity risks; (8) changes in demand for our products and services; (9) the failure of assumptions and estimates underlying the establishment of allowances for possible credit losses and other asset impairments, valuations of assets and liabilities, and other calculations; (10) the sufficiency of our capital, including sources of such capital and the extent to which capital may be used or required; (11) our inability to maintain a "satisfactory" rating under the Community Reinvestment Act; (12) the risk that our cost of funding could increase in the event we are unable to continue to attract stable, low-cost deposits or maintain or reduce our cost of deposits; (13) our inability to raise necessary capital to fund our growth strategy and operations or to meet increased required minimum regulatory capital levels; (14) our ability to execute and prudently manage our growth and execute our business strategy, including expansionary activities; (15) the composition of and changes in our management team and our ability to attract, incentivize, and retain key personnel; (16) the effects of competition from a wide variety of local, regional, national, and other providers of financial, investment, trust, and other wealth management services and insurance services, including the disruptive effects of financial technology and other competitors who are not subject to the same level of supervision and regulation as the Company and the Bank; (17) the deterioration of our asset quality or the value of collateral securing loans; (18) changes in accounting standards; (19) the effectiveness of our risk management framework, including internal controls; (20) severe weather, natural disasters, pandemics, epidemics, acts of war, terrorism, or other external events, such as the transition risk associated with climate change, and other matters beyond our control; (21) changes in technology or products that may be more difficult or costly or less effective than anticipated;

3 Important Notices and Disclaimers (22) the risks of acquisitions and other expansionary activities, including without limitation our ability to identify and consummate transactions with potential future acquisition candidates, the time and costs associated with pursuing such transactions, our ability to successfully integrate operations as part of such transactions, and our ability, and possible failures, to achieve expected gains, revenue growth, expense savings, and/or other synergies from such transactions; (23) our ability to maintain our historical rate of growth; (24) failure to keep pace with technological change or difficulties when implementing new technologies; (25) systems failures or interruptions involving our risk management framework, our information technology and telecommunications systems, or third-party service providers; (26) our ability to identify and address unauthorized data access, cyber-crime, and other threats to data security and customer privacy; (27) our compliance with governmental and regulatory requirements, including the Bank Holding Company Act of 1956, as amended, and other laws relating to banking, consumer protection, securities, and tax matters, and our ability to maintain licenses required in connection with mortgage origination, sale, and servicing operations; (28) compliance with the Bank Secrecy Act of 1970, Office of Foreign Assets Control rules, and anti-money laundering laws and regulations; (29) governmental monetary and fiscal policies; (30) changes in laws, rules, or regulations, or interpretations thereof, or policies relating to financial institutions or accounting, tax, trade, monetary, or fiscal matters; (31) our ability to receive dividends from the Bank and satisfy our obligations as they become due; (32) the institution and outcome of litigation and other legal proceedings against us or to which we become subject; (33) the limited experience of our management team in managing and operating a public company; (34) the incremental costs of operating as a public company; and (35) our ability to meet our obligations as a public company, including our obligations under Section 404 of the Sarbanes-Oxley Act of 2002. Additional factors that could affect forward-looking statements in this presentation can be found in the sections titled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our Annual Report on Form 10-K for the fiscal year ended December 31, 2025, filed with the U.S. Securities and Exchange Commission (the "SEC") and in other documents that we file with the SEC from time to time, which are available on the SEC's website, www.sec.gov. The Company can provide no assurance that the results contemplated, expressed, or implied by any forward-looking statement will be realized. Our actual future financial results or performance may differ from that currently expected due to additional risks and uncertainties of which we are currently not aware or which we currently do not consider, but in the future may become, material to our business or operating results. Readers are cautioned to not place undue reliance on any of the forward-looking statements contained in this presentation. The forward-looking statements contained in this presentation speak only as of the date they are made, and the Company undertakes no obligation to review or update any forward-looking statements, whether as a result of new information, changes in assumptions, or otherwise, except as required by law. Non-GAAP Financial Measures This presentation contains certain financial measures that are not measures recognized under generally accepted accounting principles in the U.S. ("GAAP") and, therefore, are considered non-GAAP financial measures. The Appendix to this presentation includes reconciliations of these non-GAAP financial measures to the most directly comparable financial measures calculated in accordance with GAAP. We use non-GAAP financial measures, certain of which are included in this presentation, both to explain our operating results to shareholders and the investment community and to evaluate, analyze, and manage our business. We believe that these non-GAAP financial measures provide a better understanding of ongoing operations, enhance the comparability of results across periods, and enable investors to better understand our performance. However, non-GAAP financial measures should not be considered in isolation and should be considered supplemental in nature and not as a substitute for or superior to the most directly comparable or other financial measures calculated in accordance with GAAP. Additionally, the manner in which the non-GAAP financial measures contained in this presentation are calculated may differ from the manner in which measures with similar names are calculated by other companies. You should understand how other companies calculate their financial measures similar to, or with names similar to, the non-GAAP financial measures contained in this presentation when comparing such non-GAAP financial measures.

4 Important Notices and Disclaimers Industry Information Certain industry and market data and forecasts, and other information, contained in this presentation has been prepared based, in part, upon data, forecasts, and other information that we obtained from regulatory sources, periodic industry publications, third-party studies and surveys, filings of public companies in our industry, internal company surveys, or other independent information publicly available to us. Although we believe such information is reliable and are not aware of any inaccuracies therein as of the date of this presentation, we have not independently verified this information, and this information could prove to be inaccurate or incomplete. Readers are solely responsible for their own assessment of all such information. 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 representation or warranty, express or implied, 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 disclaims any and all liability based on such information or errors therein or omissions therefrom.

5 Company Overview Headquarters: Harrogate, TN Branches2: 34 Total Assets: $2.4 Billion Total Loans: $1.9 Billion Total Deposits: $1.9 Billion 1Non-GAAP financial measure. See Appendix for a reconciliation of non-GAAP financial measures. 2Includes the banking facility located in our principal executive office. Note: Q226 percentages are annualized. Financial Highlights Franchise Map Louisville Lexington Nashville Chattanooga Knoxville Harrogate Kingsport Johnson City Bristol Charlotte Winston-Salem Kentucky Tennessee North Carolina Headquarters Current Branch Location or LPO Planned De Novo Branch Location Under Construction

6 Investment Merits Competitive Strengths Experienced and invested leadership team with meaningful ownership Successfully completed five whole-bank acquisitions since 2008 with a focus on balance sheet and customer retention Diversified, commercially focused loan portfolio well- positioned in attractive growth markets Strong core deposit base comprised of 49% demand deposits (as of June 30, 2026) with excellent market share throughout nine community markets Top tier financial performer, consistently ranking in the top & upper quartiles compared with peers Proven ability to recruit and retain talented bankers and staff across our markets Scalable, decentralized operating model with local leadership and decision-making authority coupled with strong, centralized risk and credit support Strategic Focus Growth and expansion strategy with a keen focus on strengthening our presence in higher growth markets in Tennessee and North Carolina Emphasize commercial banking with a focus on small & medium-sized businesses and consumers Deliver best-in-class, top tier shareholder returns with a focus on EPS and TBVPS growth consistent with historical performance Execute a capital deployment strategy focused on organic growth, disciplined M&A and de novo expansion Fund asset growth through core deposit generation and strong relationship banking Leverage technology to enhance the customer experience and improve productivity

$11.20 $12.93 $14.43 $17.11 $19.98 $21.28 2021 2022 2023 2024 2025 YTD $1.58 $2.08 $2.54 $2.75 $2.98 $1.48 2021 2022 2023 2024 2025 YTD 7 Driving Shareholder Value is Our Top Priority Core Earnings Per Share1 Tangible Book Value Per Share1 Reported PPNI ($M)1 Core ROAA1 Core ROATCE1 Core Efficiency Ratio1 $25.7 $33.1 $43.0 $42.4 $47.9 $25.3 2021 2022 2023 2024 2025 YTD 1.14% 1.46% 1.56% 1.51% 1.67% 1.76% 2021 2022 2023 2024 2025 YTD 15.1% 17.2% 18.7% 17.6% 16.7% 14.4% 2021 2022 2023 2024 2025 YTD 56% 50% 47% 49% 46.7% 45.2% 2021 2022 2023 2024 2025 YTD 2 Combined Annual Growth Rate (CAGR) is from December 31, 2020 to December 31, 2025 for all graphs. 1Non-GAAP financial measure. See Appendix for a reconciliation of Non-GAAP financial measures.

$140 $158 $196 $220 $285 $303 2021 2022 2023 2024 2025 YTD $1,449 $1,421 $1,820 $1,939 $1,816 $1,873 2021 2022 2023 2024 2025 YTD $1,194 $1,318 $1,670 $1,789 $1,855 $1,922 2021 2022 2023 2024 2025 YTD $1,713 $1,742 $2,197 $2,301 $2,291 $2,377 2021 2022 2023 2024 2025 YTD 8 Consistent Balance Sheet Growth Total Assets ($M) Total Net Loans ($M) Total Deposits ($M) Total Equity ($M) Combined Annual Growth Rate (CAGR) is from December 31, 2020 to December 31, 2025 for all graphs

9 Key Markets Overview/Dynamics Charlotte, NC ■ A premier financial and economic hub within the Southeastern U.S. with an estimated population of ~2.9 million ■ Home to several major financial institutions and serves as a critical nexus for the energy, healthcare, and logistics sectors ■ Dominance in the financial industry and innovation ecosystem create an unparalleled opportunity for long- term growth Nashville, TN ■ One of the most rapidly expanding metropolitan regions within the U.S. with an estimated population of ~2.2 million ■ Widely acclaimed for its vibrant cultural scene, dynamic labor market, and relative affordability ■ Nashville serves as home to several Fortune 500 and industry-leading corporations led by the healthcare industry Knoxville, TN ■ Dynamic and expanding economic center in East Tennessee with an estimated population of ~1 million ■ The Knoxville MSA hosts key industries, including advanced manufacturing, energy production, and logistics ■ Home to the University of Tennessee and Oak Ridge National Laboratory Tri-Cities, TN1 ■ A dynamic and expanding economic hub in Northeast Tennessee and Southwest Virginia with an estimated population of ~0.5 million ■ Diversified economic base, anchored by critical sectors such as healthcare, manufacturing, logistics, and tourism ■ Location at the intersection of major interstate highways enhances its appeal as a logistics and distribution center Community Markets ■ Our community markets tend to offer primarily retail and small business customer opportunities and more limited competition ■ This leads to an attractive profitability profile and smaller ticket, more granular loan and deposit portfolios ■ These markets have been deemphasized by national and regional banks which allows for continued growth Source: Demographic data provided by S&P Capital IQ Pro and sourced from Claritas based on U.S. Census data 1Tri-Cities, TN includes Kingsport, Bristol, and Johnson City, TN

8.1% 9.1% 12.0% 12.3% 10.2% 11.1% 15.0% 14.6% 11.4% 12.4% 16.0% 15.5% 2023 2024 2025 YTD TCE Ratio CET1 Ratio Total Risk-based Capital 10 Consolidated Capital Ratios Capital Position Capital Ratios (%) Simple Capital Structure 89% 90% 92% 94% 3% 2% 2% 0% 7% 8% 8% 6% 2023 2024 2025 YTD Common Equity Tier 1 Trust Preferred Tier 2 ACL 1Non-GAAP financial measure. See Appendix for a reconciliation of Non-GAAP financial measures. ■ The Company repaid its $20.3M note payable to Community Trust Bank, Inc. on October 7, 2025. Interest payments were based on a variable rate per annum equal to the prime rate as reported in The Wall Street Journal, adjusted daily. The loan was utilized to finance merger transactions and support Bank level capital. ■ The Company redeemed $6.2M of Trust Preferred Securities on January 7, 2026 that paid interest and dividends quarterly at a rate of Secured Overnight Financing Rate ("SOFR") plus 2.4% 1 CRE and Construction Concentrations (Bank Level) 2021 2022 2023 2024 2025 YTD Tang. Common Equity/Tang. Assets1 8.0% 9.0% 8.1% 9.1% 12.0% 12.3% Common Equity Tier 1 Capital 10.9% 11.5% 10.2% 11.1% 15.0% 14.6% Total Risk-based Capital 12.2% 12.8% 11.4% 12.4% 16.0% 15.5% Tier 1 Leverage 8.4% 9.5% 8.8% 9.5% 12.2% 12.7%

11 Valuable Deposit Franchise 24% 25% 22% 20% 24% 23% 23% 25% 25% 19% 14% 15% 5% 5% 4% 9% 10% 11% 16% 16% 12% 10% 11% 11% 21% 19% 18% 20% 22% 25% 12% 10% 18% 22% 20% 16% 1,449 1,421 1,820 1,939 1,816 1,873 $0 $500 $1,000 $1,500 $2,000 $2,500 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% 2021 2022 2023 2024 2025 YTD Deposits Demand deposits Interest-bearing Demand Money Market Savings Time Deposits Brokered Total 0.00% 0.50% 1.00% 1.50% 2.00% 2.50% 3.00% 3.50% 4.00% 4.50% 2Q 2024 3Q 2024 4Q 2024 1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026 2Q 2026 Cost of Deposits Interest-bearing DDAs Savings & MMDA Certificates of deposit Total deposits

Due in One Year or Less 20% Due after One Year Through Five Years 46% Due after Five Years 34% $150 $167 $160 $188 $174 $144 $216 $254 $337 $430 $466 $485 $257 $311 $317 $367 $357 $397 $624 $732 $814 $984 $997 $1,026 2021 2022 2023 2024 2025 2026Q2 C&I Owner Occupied CRE Non-owner Occupied CRE Fixed Rate 39% Adjustable Rate 61% 12 Loan Portfolio Detail Commercial Loan Growth ($M) Loan Maturity Schedule as of June 30, 2026 Loan Portfolio Highlights Fixed vs. Adjustable-Rate Loans As of June 30, 2026 ■ Diversified portfolio with an emphasis on commercial and business clients with sufficient debt service ratios, guarantor liquidity, and multiple forms of collateral ■ Substantial repeat business with very little turnover ■ All lending relationships over $2.5M in exposure get an expansive annual credit review ■ Every commercial loan has a 10% deposit requirement, typically the primary operating account ■ C&D portfolio largely domiciled in major metro markets. All transactions greater than $2.5M require multiple site visits. ■ Single family mortgage loans are retained on the balance sheet Combined Annual Growth Rate (CAGR) is from December 31, 2020 to December 31, 2025 for all graphs

13 Loan Portfolio Detail C&I and Owner-occupied CRE by Industry ($M) As of June 30, 2026 Industry C&I CRE-OO Total % of Total Real estate rental and leasing 15,166 $ 60,903 $ 76,068 $ 12% Manufacturing 16,878 $ 9,788 $ 26,666 4% Finance and insurance 55,902 $ 8,744 $ 64,646 10% Other services (except public administration) 4,283 $ 21,016 $ 25,300 4% Retail trade 2,653 $ 22,580 $ 25,232 4% Health care and social assistance 6,606 $ 10,275 $ 16,881 3% Wholesale trade 4,497 $ 5,747 $ 10,243 2% Construction 14,723 $ 14,653 $ 29,377 5% Professional, scientific and technical services 427 $ 5,058 $ 5,486 1% Accommodation and food services 3,796 $ 311,757 $ 315,553 50% Transportation and warehousing 4,041 $ 776 $ 4,817 1% Information 2,070 $ - $ 2,070 0% Administrative and support and waste management and remediation services 2,796 $ 804 $ 3,601 1% Educational services 2,301 $ 1,264 $ 3,565 1% Mining 1,514 $ 145 $ 1,660 0% Agriculture, forestry, fishing and hunting 392 $ 195 $ 586 0% Utilities 49 $ - $ 49 0% Arts, entertainment and recreation 109 $ 1,365 $ 1,474 0% Public administration 2,017 $ 315 $ 2,332 0% Management of companies and enterprises - $ 1,462 $ 1,462 0% Other 3,712 7,734 11,446 2% Total 143,931 $ 484,583 $ 628,514 $ 100%

$7,981 $10,825 $16,967 $17,577 0.47% 0.60% 0.91% 0.90% 2023 2024 2025 YTD $7,095 $5,722 $6,276 $5,893 $6,498 $7,416 0.41% 0.33% 0.29% 0.26% 0.28% 0.31% 2021 2022 2023 2024 2025 2026Q2 14 Asset Quality Criticized and Classified Loans / Loans (%) Loan Loss Reserve / NPAs (%) NPAs and 90 Days Past Due / Assets (%) Net Charge-offs (Recoveries) / Average Loans (%) $113 ($1,092) $87 $259 $525 $100 0.01% -0.09% 0.01% 0.01% 0.03% 0.01% 2021 2022 2023 2024 2025 YTD $11,189 $13,448 $16,636 $18,205 $18,096 $18,722 158% 235% 265% 309% 278% 252% 2021 2022 2023 2024 2025 2026Q2 Dollar figures are in thousands ($000)

15 Investment Highlights 1 Investment Highlights History of robust organic growth and proven top tier financial performance Experienced management team with vested ownership Best-in-class shareholder returns with a focus on EPS and TBVPS growth Balanced franchise with a combination of high growth Southeastern metro markets and stable, deposit rich community markets Diversified, commercially focused loan portfolio with conservative credit culture and an emphasis on true relationship banking Scalable, decentralized business model supported by centralized underwriting, credit administration and technology

Appendix

17 (dollars in thousands, except per share data) June 30, 2026 March 31, 2026 December 31, 2025 September 30, 2025 June 30, 2025 June 30, 2026 June 30, 2025 Pre-Tax Pre-Provision Net Income: Pre-tax income 12,894 $ 11,860 $ 12,391 $ 12,296 $ 11,558 $ 24,754 $ 22,760 $ Add: provision for loan and lease losses 399 122 463 - - 521 - Pre-tax pre-provision net income 13,293 $ 11,982 $ 12,854 $ 12,296 $ 11,558 $ 25,275 $ 22,760 $ Tangible Common Equity: Shareholders' equity 302,618 $ 293,518 $ 285,344 $ 245,153 $ 235,268 $ 302,618 235,268 Less: non controlling interest - Less: goodwill 8,511 8,511 8,511 8,511 8,511 8,511 8,511 Less: core deposit intangible (net of tax benefit) 2,594 2,875 3,164 3,448 3,744 2,594 3,744 Tangible common equity 291,513 $ 282,132 $ 273,669 $ 233,194 $ 223,013 $ 291,513 $ 223,013 $ Return on Average Tangible Common Equity: Total average shareholders' equity $ 297,631 $ 288,485 259,784 $ 239,473 $ 227,883 $ 293,058 $ 223,912 $ Less: average intangible assets (net of tax benefit) 11,105 11,386 11,767 11,980 11,997 11,245 $ 13,497 Less: average non controlling interest - - - - - - 2,701 Average common tangible equity 286,526 277,099 248,017 227,493 215,886 281,813 207,714 Net income to shareholders 10,216 9,534 10,167 9,467 8,900 19,750 17,592 Return on average common tangible equity 14.26% 13.76% 16.40% 16.65% 16.49% 14.02% 16.94% Tangible Book Value per Share: Tangible common equity 291,513 $ 282,132 $ 273,669 $ 233,194 $ 223,013 $ 291,513 $ 223,013 $ Shares of common stock outstanding (weighted average) 13,700,296 13,697,987 13,697,987 12,239,644 12,239,644 13,699,148 12,188,624 Tangible book value per share, reported 21.28 $ 20.60 $ 19.98 $ 19.05 $ 18.22 $ 21.28 $ 18.22 $ As of and for the Six Months Ended Non-GAAP Reconciliations (unaudited) As of and for the Three Months Ended

18 (dollars in thousands, except per share data) June 30, 2026 March 31, 2026 December 31, 2025 September 30, 2025 June 30, 2025 June 30, 2026 June 30, 2025 Tangible Common Equity to Tangible Assets: Tangible common equity 291,513 $ 282,132 $ 273,669 $ 233,194 $ 223,013 $ 291,513 $ 223,013 $ Total assets 2,376,584 2,328,789 2,291,455 2,214,408 2,262,511 2,376,584 2,262,511 Less: intangible assets 12,012 12,392 12,767 13,149 13,546 12,012 13,546 Tangible assets 2,364,572 2,316,397 2,278,688 2,201,258 2,248,965 2,364,572 2,248,965 Tangible common equity to tangible assets 12.33% 12.18% 12.01% 10.59% 9.92% 12.33% 9.92% Core Deposits: Total Deposits 1,873,172 $ 1,892,217 $ 1,815,734 $ 1,780,634 $ 1,851,248 $ 1,873,172 $ 1,851,248 Less: Time deposits greater than $250,000 107,910 105,717 103,833 101,767 97,844 107,910 97,844 Less: Brokered deposits 55,375 41,533 47,970 47,970 125,223 55,375 125,223 Core deposits 1,709,887 $ 1,744,967 $ 1,663,931 $ 1,630,897 $ 1,628,181 $ 1,709,887 $ 1,628,181 $ Core Net Income: Net income 10,216 $ 9,534 $ 10,167 $ 9,467 $ 8,900 $ 19,750 $ 17,592 $ Add: Non-recurring Expense - 603 - - 302 603 309 Less: tax effect - (133) - - (76) (133) (78) Core net income 10,216 $ 10,004 $ 10,167 $ 9,467 $ 9,126 $ 20,220 $ 17,823 Core Net Income per Share: Core net income 10,216 $ 10,004 $ 10,167 $ 9,467 $ 9,126 $ 20,220 $ 17,823 $ Weighted average common shares outstanding 13,700,296 13,697,987 13,697,987 12,239,644 12,239,644 13,699,148 12,188,624 Core net income per share 0.75 $ 0.73 $ 0.74 $ 0.77 $ 0.75 $ 1.48 $ 1.46 $ Core Return on Average Assets: Core net income 10,216 $ 10,004 $ 10,167 $ 9,467 $ 9,126 $ 20,220 $ 17,823 $ Average assets 2,301,752 2,296,115 2,249,282 2,170,869 2,248,134 2,298,934 2,268,859 Core return on average assets 1.78% 1.74% 1.81% 1.74% 1.62% 1.76% 1.57% Core Return on Average Tangible Common Equity: Average tangible common equity 286,526 $ 277,099 $ 248,017 $ 227,493 $ 215,886 $ 281,813 $ 207,714 $ Core net income 10,216 10,004 10,167 9,467 9,126 20,220 17,823 Core return on average tangible common equity 14.26% 14.44% 16.40% 16.65% 16.91% 14.35% 17.16% Core Efficiency Ratio: Add: net interest income 21,515 $ 20,478 $ 20,810 $ 20,222 $ 20,059 $ 41,993 $ 39,399 $ Add: non interest income 2,650 2,591 2,667 2,626 2,224 5,241 4,667 Operating revenue 24,165 $ 23,069 $ 23,477 $ 22,848 $ 22,283 $ 47,234 $ 44,066 Total noninterest expenses 10,872 11,087 10,623 10,552 10,725 21,959 21,306 Less: non-recurring expenses - 603 - - 302 603 309 Core noninterest expenses 10,872 10,484 10,623 10,552 10,423 21,356 20,997 Core efficiency ratio 44.99% 45.45% 45.25% 46.18% 46.78% 45.21% 47.65% As of and for the Six Months Ended As of and for the Three Months Ended

Exhibit 99.3

 

COMMERCIAL BANCGROUP, INC. ANNOUNCES QUARTERLY CASH DIVIDEND

HARROGATE, TN (July 27, 2026) – Commercial Bancgroup, Inc. (“Commercial”) (NASDAQ:CBK), the parent company of Commercial Bank, announced today that the board of directors of Commercial declared a quarterly cash dividend of $0.12 per share of Commercial common stock payable on September 30, 2026, to shareholders of record as of the close of business on September 15, 2026. This cash dividend represents a $0.02, or 20.0%, increase over the $0.10 cash dividend paid during the second quarter of 2026.

“Our consistent profitability and performance metrics have enabled us to support growth and return value to shareholders. This dividend increase reflects our confidence in the long-term earnings and growth outlook of Commercial Bancgroup, Inc. and our commitment to our shareholders,” said Terry Lee, CEO and President of Commercial.

About Commercial Bancgroup, Inc.

Commercial Bancgroup, Inc. is a bank holding company headquartered in Harrogate, Tennessee. Through our wholly owned subsidiary, Commercial Bank, a Tennessee state-chartered bank, we offer a suite of traditional consumer and commercial banking products and services to businesses and individuals in select markets in Kentucky, North Carolina, and Tennessee. More information about Commercial Bancgroup, Inc. can be found on its website at ir.cbtn.com.

Contacts

Philip J. Metheny
Sr. Executive Vice President, Chief Financial Officer
Commercial Bancgroup, Inc.
ir@cbtn.com
423-869-5151

Roger Mobley
Executive Vice President, Chief Financial Officer
Commercial Bank
ir@cbtn.com
704-648-0185

Source

Commercial Bancgroup, Inc.

 

 

Forward-Looking Statements

This press release contains statements that constitute “forward-looking statements” within the meaning of the U.S. federal securities laws. The statements in this press release that are not purely historical facts are forward-looking statements. These forward-looking statements are generally identified by the use of forward-looking terminology, including the terms “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and, in each case, their negative or other variations or comparable terminology and expressions. You should not place undue reliance on these forward-looking statements as actual future results may differ materially from those expressed or implied by any forward-looking statement. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those expressed in any forward-looking statements, including but not limited to: (1) business and economic conditions nationally, regionally and in our target markets, particularly in Kentucky, North Carolina and Tennessee and the particular geographic areas in which we operate; (2) the level of, or changes in the level of, interest rates and inflation, including the effects thereof on our earnings and financial condition and the market value of our investment securities and loan portfolios; (3) the concentration of our loan portfolio in real estate loans and changes in the prices, values and sales volumes of commercial and residential real estate; (4) the concentration of our business within our geographic areas of operation in Kentucky, North Carolina and Tennessee and neighboring markets; (5) credit and lending risks associated with our commercial real estate, commercial, and construction and land development loan portfolios; (6) risks associated with our focus on lending to small and medium-sized businesses; (7) our ability to maintain important deposit customer relationships, maintain our reputation or otherwise avoid liquidity risks; (8) changes in demand for our products and services; (9) the failure of assumptions and estimates underlying the establishment of allowances for possible credit losses and other asset impairments, valuations of assets and liabilities and other calculations; (10) the sufficiency of our capital, including sources of such capital and the extent to which capital may be used or required; (11) our inability to maintain a “satisfactory” rating under the Community Reinvestment Act; (12) the risk that our cost of funding could increase in the event we are unable to continue to attract stable, low-cost deposits or maintain or reduce our cost of deposits; (13) our inability to raise necessary capital to fund our growth strategy and operations or to meet increased required minimum regulatory capital levels; (14) our ability to execute and prudently manage our growth and execute our business strategy, including expansionary activities; (15) the composition of and changes in our management team and our ability to attract, incentivize and retain key personnel; (16) the effects of competition from a wide variety of local, regional, national and other providers of financial, investment, trust and other wealth management services and insurance services, including the disruptive effects of financial technology and other competitors who are not subject to the same regulations as the Company and the Bank; (17) the deterioration of our asset quality or the value of collateral securing loans; (18) changes in accounting standards; (19) the effectiveness of our risk management framework, including internal controls; (20) severe weather, natural disasters, pandemics, epidemics, acts of war, terrorism, or other external events, such as the transition risk associated with climate change, and other matters beyond our control; (21) changes in technology or products that may be more difficult, more costly, or less effective than anticipated; (22) the risks of acquisitions and other expansionary activities, including without limitation our ability to identify and consummate transactions with potential future acquisition candidates, the time and costs associated with pursuing such transactions, our ability to successfully integrate operations as part of such transactions and our ability, and possible failures, to achieve expected gains, revenue growth, expense savings and/or other synergies from such transactions; (23) our ability to maintain our historical rate of growth; (24) failure to keep pace with technological change or difficulties when implementing new technologies; (25) systems failures or interruptions involving our risk management framework, our information technology and telecommunications systems or third-party service providers; (26) our ability to identify and address unauthorized data access, cyber-crime and other threats to data security and customer privacy; (27) our compliance with governmental and regulatory requirements, including the Bank Holding Company Act of 1956, as amended, and other laws relating to banking, consumer protection, securities and tax matters, and our ability to maintain licenses required in connection with mortgage origination, sale and servicing operations; (28) compliance with the Bank Secrecy Act of 1970, Office of Foreign Assets Control rules and anti-money laundering laws and regulations; (29) governmental monetary and fiscal policies; (30) changes in laws, rules, or regulations, or interpretations thereof, or policies relating to financial institutions or accounting, tax, trade, monetary or fiscal matters; (31) our ability to receive dividends from the Bank and satisfy our obligations as they become due; (32) the institution and outcome of litigation and other legal proceedings against us or to which we become subject; (33) the limited experience of our management team in managing and operating a public company; (34) the incremental costs of operating as a public company; (35) our ability to meet our obligations as a public company, including our obligations under Section 404 of the Sarbanes-Oxley Act of 2002; and (36) other risks and factors described under the sections titled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Annual Report on Form 10-K for the fiscal year ended December 31, 2025, or in any of the Company’s subsequent filings with the U.S. Securities and Exchange Commission. Commercial undertakes no obligation to update these forward-looking statements, as a result of changes in assumptions, new information, or otherwise, after the date of this press release, except as required by law.

[END]

 

 

Filing Exhibits & Attachments

6 documents

Press Releases

• EX-99.1 PRESS RELEASE OF COMMERCIAL BANCGROUP, INC., DATED JULY 27, 2026 544.0 KB
• EX-99.2 INVESTOR PRESENTATION OF COMMERCIAL BANCGROUP, INC., DATED JULY 27, 2026 43.4 KB
• EX-99.3 PRESS RELEASE OF COMMERCIAL BANCGROUP, INC., DATED JULY 27, 2026, ANNOUNCING THE 15.5 KB

Other Documents

• EX-101 XBRL SCHEMA FILE 2.9 KB
• EX-101 XBRL LABEL FILE 33.4 KB
• EX-101 XBRL PRESENTATION FILE 21.8 KB