Commercial Bancgroup Q3 net income rises to $10.9M

The board set a $0.12 quarterly cash dividend, payable December 30, 2026, to shareholders of record December 15, 2026.

Rhea-AI Filing Summary

Commercial Bancgroup, Inc. (CBK) reported third-quarter 2026 net income of $10.9 million, or $0.79 per diluted common share, compared with $9.5 million, or $0.77, in third-quarter 2025. Income before income taxes was $13.8 million, up 12.5%. The company attributed the increase primarily to a $1.9 million, 9.5% increase in net interest income after provision for credit losses and a $0.1 million, 2.8% increase in noninterest income, partly offset by a $0.4 million, 4.3% increase in noninterest expense.

At September 30, 2026, loans outstanding net of deferred fees and discounts were $2.0 billion, up $216.1 million (12.2%) from a year earlier; deposits totaled $1.9 billion, up $106.8 million (6.0%). Nonperforming assets were 0.31% of total assets, compared with 0.27% a year earlier, while the allowance for credit losses was 0.96% of loans, compared with 1.02%. The board declared a quarterly cash dividend of $0.12 per share, payable December 30, 2026, to shareholders of record December 15, 2026.

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• Moderate pointQuarterly net income was $10.9 million, compared with $9.5 million a year earlier.

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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, or exhibit attachments filed with this report.

Key Figures

Net income: $10.868 million Diluted earnings per share: $0.79 Income before income taxes: $13.837 million +4 more

7 metrics

Net income $10.868 million Third quarter ended September 30, 2026

Diluted earnings per share $0.79 Third quarter ended September 30, 2026

Income before income taxes $13.837 million Third quarter ended September 30, 2026

Net interest income after provision for credit losses $22.139 million Third quarter ended September 30, 2026

Loans outstanding net of deferred fees and discounts $1.983 billion As of September 30, 2026

Total deposits $1.887 billion As of September 30, 2026

Quarterly cash dividend per share $0.12 per share Payable December 30, 2026

Key Terms

Core net income, Net interest income after provision for credit losses, Nonperforming assets to total assets, Tangible book value per share

4 terms

Core net income financial

"Core net income was $10.9 million"

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.

Net interest income after provision for credit losses financial

"Net interest income after provision for credit losses"

Nonperforming assets to total assets financial

"Nonperforming assets to total assets were 0.31%"

Tangible book value per share financial

"Tangible book value per share, reported"

Tangible book value per share is the company's total physical and financial assets minus its liabilities and intangible items (like goodwill and brand value), divided by the number of outstanding shares. It gives investors a conservative, per‑share estimate of what would remain if the business sold only its hard assets and paid its debts—useful for judging whether a stock is priced above or below its underlying, tangible worth, like valuing a property by its bricks and cash rather than its reputation.

Earnings Snapshot

Net income: $10.868 million

Third quarter ended September 30, 2026

Net income $10.868 million Compared with $9.467 million in the third quarter of 2025

Diluted earnings per share $0.79 Compared with $0.77 in the third quarter of 2025

Income before income taxes $13.837 million Up 12.5% from the third quarter of 2025

Net interest income after provision for credit losses $22.139 million Up 9.5% from the third quarter of 2025

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How much did CBK earn in the third quarter of 2026?

Commercial Bancgroup reported $10.9 million in net income, or $0.79 per diluted common share, for the third quarter of 2026. It reported $9.5 million in net income, or $0.77 per diluted common share, for the third quarter of 2025.

What quarterly dividend did CBK declare, and when is it payable?

Commercial Bancgroup declared a $0.12 per-share quarterly cash dividend, payable December 30, 2026, to shareholders of record as of the close of business on December 15, 2026.

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false 0001981546 0001981546 2026-10-26 2026-10-26 iso4217:USD xbrli:shares iso4217:USD xbrli:shares

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): October 26, 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 October 26, 2026, Commercial Bancgroup, Inc., a Tennessee corporation (the “Company”), issued a press release announcing its financial results for the quarter ended September 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 September 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 October 26, 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 December 30, 2026, to shareholders of record as of the close of business on December 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 October 26, 2026.
99.2		Investor Presentation of Commercial Bancgroup, Inc., dated October 26, 2026.
99.3		Press release of Commercial Bancgroup, Inc., dated October 26, 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: October 26, 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 Third Quarter 2026

HARROGATE, TN – October 26, 2026 – Commercial Bancgroup, Inc. (“Commercial” or the “Company”) (Nasdaq: CBK), the parent company of Commercial Bank (the “Bank”), today announced net income of $10.9 million, or $0.79 per diluted common share, for the third quarter of 2026, compared to net income of $9.5 million, or $0.77 per diluted common share, for the third quarter of 2025. Core (net of any one-time adjustments) net income was $10.9 million, or $0.79 per diluted common share, for the third quarter of 2026, compared to core net income of $9.5 million, or $0.77 per diluted common share, for the third 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 the Company’s common stock (the “Stock Split”).

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

Third Quarter 2026 Performance Highlights:

● Net income of $10.9 million or $0.79 per diluted common share; Core net income of $10.9 million or $0.79 per diluted common share (see non-GAAP reconciliation)

● Return on average assets (“ROAA”) of 1.84%; Core ROAA of 1.84% (see non-GAAP reconciliation)

● Return on average equity (“ROAE”) of 14.16%; Core ROAE of 14.16% (see non-GAAP reconciliation)

● Return on average tangible common equity (“ROATCE”) of 14.68%; Core ROATCE of 14.68% (see non-GAAP reconciliation)

● Net interest margin of 4.14%, an increase of 8 basis points from the second quarter of 2026

● Core efficiency ratio of 43.68% (see non-GAAP reconciliation)

● Loans outstanding net of deferred fees and discounts increased $42.8 million during the quarter, or 2.2% from the second quarter of 2026

● Book value per share increased $0.62, or 2.8%, to $22.71 and tangible book value per share increased $0.64, or 3.0%, to $21.92 at September 30, 2026 from $22.09 and $21.28, respectively, at June 30, 2026 (see non-GAAP reconciliation)

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

1

Year-To-Date Highlights:

● Net income of $30.6 million or $2.23 per diluted common share for the nine months ended September 30, 2026, compared to $27.1 million or $2.22 per diluted common share for the nine months ended September 30, 2025

● ROAA of 1.76% for the nine months ended September 30, 2026, compared to 1.61% for the nine months ended September 30, 2025

● ROAE of 13.71% for the nine months ended September 30, 2026, compared to 15.75% for the nine months ended September 30, 2025

● Total operating revenue of $72.4 million for the nine months ended September 30, 2026, compared to $66.9 million for the nine months ended September 30, 2025

● Noninterest expense of $33.0 million for the nine months ended September 30, 2026, compared to $31.9 million for the nine months ended September 30, 2025

● Book value per share of $22.71 as of September 30, 2026, compared to $20.03 as of September 30, 2025

● Tangible book value per share of $21.92 as of September 30, 2026, compared to $19.05 as of September 30, 2025 (see non-GAAP reconciliation)

● Core efficiency ratio of 44.7% for the nine months ended September 30, 2026, compared to 47.1% for the nine months ended September 30, 2025 (see non-GAAP reconciliation)

Balance Sheet Trends

Total assets were $2.4 billion as of September 30, 2026, compared to $2.2 billion as of September 30, 2025.

Loans outstanding net of deferred fees and discounts were $2.0 billion as of September 30, 2026, an increase of $216.1 million, or 12.2%, from September 30, 2025.

As of September 30, 2026, the Bank exceeded the minimum requirements to be well-capitalized for bank regulatory purposes, with a total risk-based capital ratio of 14.2%, a Tier 1 risk-based capital ratio of 13.3%, a common equity Tier 1 capital ratio of 13.3%, and a Tier 1 leverage ratio of 11.8%.

Total deposits were $1.9 billion as of September 30, 2026, an increase of $106.8 million, or 6.0%, from September 30, 2025.

Noninterest-bearing demand deposits increased $9.6 million, or 2.4%, to $408.2 million as of September 30, 2026, from $398.6 million as of September 30, 2025.

Non-brokered deposits were $1.8 billion as of September 30, 2026, an increase of $107.5 million, or 6.2%, from September 30, 2025. This increase was primarily driven by normal customer business cycles and deposit growth.

Nonperforming assets to total assets were 0.31% as of September 30, 2026, compared with 0.27% as of September 30, 2025. The allowance for credit losses to total loans was 0.96% and 1.02%, as of September 30, 2026 and September 30, 2025, respectively.

Net Income Before Income Taxes

Net income before income taxes was $13.8 million for the three months ended September 30, 2026, an increase of $1.5 million, or 12.5%, from the three months ended September 30, 2025. The increase was primarily the result of a $1.9 million, or 9.5%, increase in net interest income after provision for credit losses and a $0.1 million, or 2.8%, increase in noninterest income, partially offset by a $0.4 million, or 4.3%, increase in noninterest expense.

Noninterest Income

Noninterest income was $2.7 million for the three months ended September 30, 2026, an increase of $0.1 million, or 2.8%, compared to the three months ended September 30, 2025. The increase was primarily due to increases in ATM fees and bank-owned life insurance income.

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.

2

Commercial Bancgroup, Inc.

Financial Tables

Financial Highlights (unaudited) Table 1A

		As of and for the Three Months Ended																				As of and for the Nine Months Ended
(dollars in thousands except per share amounts)		September 30, 2026				June 30, 2026				March 31, 2026				December 31, 2025				September 30, 2025				September 30, 2026				September 30, 2025
Selected Operating Data:
Interest and Dividend Income		$	31,433			$	30,154			$	29,463			$	29,958			$	30,021			$	91,050			$	91,645
Interest Expense			8,946				8,639				8,985				9,148				9,799				26,570				32,025
Net Interest Income			22,487				21,515				20,478				20,810				20,222				64,480				59,620
Provision for Credit Losses			348				399				122				463				-				869				-
Net Interest Income After Provision for Credit Losses			22,139				21,116				20,356				20,347				20,222				63,611				59,620
Noninterest Income			2,699				2,650				2,591				2,667				2,626				7,941				7,293
Noninterest Expense			11,001				10,872				11,087				10,623				10,552				32,960				31,859
Income Before Income Taxes			13,837				12,894				11,860				12,391				12,296				38,591				35,054
Provision for Income Taxes			2,969				2,678				2,326				2,224				2,829				7,973				7,997
Net Income			10,868				10,216				9,534				10,167				9,467				30,618				27,057
Add: Non-recurring Expense Net of Taxes			-				-				470				-				-				470				231
Core Net Income (1)			10,868				10,216				10,004				10,167				9,467				31,088				27,288

(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)

		As of and for the Three Months Ended																				As of and for the Nine Months Ended
		September 30, 2026				June 30, 2026				March 31, 2026				December 31, 2025				September 30, 2025				September 30, 2026				September 30, 2025
Share and Per Share Data:
Basic earnings per share		$	0.79			$	0.75			$	0.70			$	0.74			$	0.77			$	2.23			$	2.22
Diluted earnings per share		$	0.79			$	0.74			$	0.70			$	0.74			$	0.77			$	2.23			$	2.22
Core (net of any one-time adjustments) net income per share (1) diluted		$	0.79			$	0.74			$	0.73			$	0.74			$	0.77			$	2.27			$	2.24
Book value per share		$	22.71			$	22.09			$	21.43			$	20.83			$	20.03			$	22.71			$	20.03
Tangible book value per share (1)		$	21.92			$	21.28			$	20.60			$	19.98			$	19.05			$	21.92			$	19.05
Shares of common stock outstanding			13,710,195				13,701,270				13,697,987				13,697,987				12,239,644				13,710,195				12,239,644
Weighted average common shares outstanding			13,701,368				13,700,296				13,697,987				13,697,987				12,239,644				13,699,901				12,205,817
Weighted average diluted shares outstanding			13,720,149				13,722,727				13,712,162				13,704,030				12,240,568				13,718,682				12,206,128

(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 Nine Months Ended
(dollars in thousands)		September 30, 2026				June 30, 2026				March 31, 2026				December 31, 2025				September 30, 2025				September 30, 2026				September 30, 2025
Selected Balance Sheet Data:
Total assets		$	2,442,326			$	2,376,584			$	2,328,789			$	2,291,455			$	2,214,408			$	2,442,326			$	2,214,408
Securities available-for-sale at fair value			37,072				38,553				42,175				43,137				29,556				37,072				29,556
Securities held-to-maturity, at carrying value, net of allowance for credit losses			96,875				94,343				96,387				97,728				131,915				96,875				131,915
Loans outstanding net of deferred fees and discounts			1,983,326				1,940,536				1,892,174				1,873,533				1,767,193				1,983,326				1,767,193
Allowance for credit losses			19,029				18,722				18,329				18,096				17,942				19,029				17,942
Goodwill and other intangible assets			11,629				12,012				12,392				12,767				13,149				11,629				13,149
Total deposits			1,887,395				1,873,172				1,892,217				1,815,734				1,780,634				1,887,395				1,780,634
Core deposits (1)			1,731,907				1,709,887				1,744,967				1,663,931				1,630,897				1,731,907				1,630,897
Other borrowings			211,325				175,817				118,248				166,838				162,760				211,325				162,760
Total Shareholders’ equity			311,307				302,618				293,518				285,344				245,153				311,307				245,153

(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)

		As of and for the Three Months Ended																				As of and for the Nine Months Ended
		September 30, 2026				June 30, 2026				March 31, 2026				December 31, 2025				September 30, 2025				September 30, 2026				September 30, 2025
Balance Sheet and Capital Ratios (Commercial Bancgroup, Inc.):
Loan-to-deposit ratio			104.07	%			102.60	%			99.03	%			102.19	%			98.24	%			104.07	%			98.24	%
Noninterest bearing deposits to total deposits			21.63	%			22.87	%			21.22	%			21.91	%			22.39	%			21.63	%			22.39	%
Total shareholders’ equity to total assets			12.75	%			12.73	%			12.60	%			12.45	%			11.07	%			12.75	%			11.07	%
Tangible common equity to tangible assets (1)			12.36	%			12.33	%			12.18	%			12.01	%			10.59	%			12.36	%			10.59	%
Tier 1 risk-based ratio Common equity tier 1 ratio			14.69	%			14.55	%			14.73	%			14.99	%			12.83	%			14.69	%			12.83	%
Total risk-based capital ratio			15.61	%			15.48	%			15.68	%			15.96	%			14.12	%			15.61	%			14.12	%
Other
Number of branches			34				34				34				34				34				34				34
Number of full-time equivalent employees			292				293				287				287				287				292				287

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

6

Financial Highlights (unaudited) Table 1B

		As of and for the Three Months Ended																				As of and for the Nine Months Ended
(dollars in thousands)		September 30, 2026				June 30, 2026				March 31, 2026				December 31, 2025				September 30, 2025				September 30, 2026				September 30, 2025
Performance Ratios:
Pre-tax pre-provision net income (PPNI) (1)		$	14,185			$	13,293			$	11,982			$	12,854			$	12,296			$	39,461			$	35,054
Return on average assets (ROAA)			1.84				1.78				1.66				1.81				1.74				1.76				1.61
Return on average equity (ROAE)			14.16				13.73				13.22				15.65				15.81				13.71				15.75
Core return on average assets (ROAA)(1)			1.84				1.78				1.74				1.81				1.74				1.79				1.63
Core Return on average equity (ROAE)(1)			14.16				13.73				13.87				15.65				15.81				13.92				15.88
Return on average tangible common equity (ROATCE) (1)			14.68				14.26				13.76				16.40				16.65				14.25				16.62
Core return on average tangible common equity (ROATCE) (1)			14.68				14.26				14.44				16.40				16.65				14.46				16.77
Net interest rate spread			3.50				3.44				3.27				3.34				3.32				3.39				3.14
Net interest margin			4.14				4.06				3.88				4.01				4.02				4.03				3.82
Cost of Total Funding			1.77				1.75				1.82				1.88				2.07				1.78				2.17
Efficiency ratio			43.68				44.99				48.06				45.25				46.18				45.51				47.61
CORE efficiency ratio (1)			43.68				44.99				45.45				45.25				46.18				44.68				47.15
Noninterest income to average assets			0.46				0.46				0.45				0.47				0.48				0.46				0.43
Noninterest expense to average assets			1.87				1.89				1.93				1.89				1.94				1.90				1.90
Average interest-earning assets to
average interest-bearing liabilities			1.38				1.38				1.36				1.38				1.36				1.38				1.33
Average equity to average total assets			0.13				0.13				0.13				0.12				0.11				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 Nine Months Ended
		September 30, 2026				June 30, 2026				March 31, 2026				December 31, 2025				September 30, 2025				September 30, 2026				September 30, 2025
Asset Quality Data:
Net charge-offs to average loans			0.00	%			0.00	%			0.01	%			0.01	%			0.00	%			0.00	%			0.01	%
Total allowance for credit losses to total loans			0.96	%			0.96	%			0.97	%			0.97	%			1.02	%			0.96	%			1.02	%
Total allowance for credit losses to nonperforming loans			285	%			281	%			313	%			290	%			333	%			285	%			333	%
Nonperforming loans to gross loans			0.34	%			0.34	%			0.31	%			0.33	%			0.31	%			0.34	%			0.31	%
Nonperforming assets to total assets			0.31	%			0.31	%			0.28	%			0.28	%			0.27	%			0.31	%			0.27	%

7

Quarter End Balance Sheets (unaudited) Table 2

(dollars in thousands)		September 30, 2026				June 30, 2026				March 31, 2026				December 31, 2025				September 30, 2025
Assets
Cash and due from banks		$	174,916			$	161,327			$	151,610			$	118,989			$	122,945
Federal funds sold			7,663				8,787				16,784				25,329				31,841
Investment securities			133,947				132,896				138,562				140,865				161,471
Gross loans less deferred fees and discounts			1,983,326				1,940,536				1,892,174				1,873,533				1,767,193
Allowance for credit losses			(19,029	)			(18,722	)			(18,329	)			(18,096	)			(17,942	)
Loans, net of allowance for credit losses			1,964,297				1,921,813				1,873,845				1,855,437				1,749,251
Premises and equipment, net			50,907				50,145				49,445				49,765				50,268
Foreclosed assets held for sale, net			888				755				575				253				533
Bank owned life insurance			46,954				46,619				46,469				46,648				46,482
Goodwill and other intangible assets			11,629				12,012				12,392				12,767				13,149
Deferred tax asset			1,190				1,076				1,056				1,003				1,427
Other			49,935				41,153				38,049				40,399				37,041
Total Assets		$	2,442,326			$	2,376,584			$	2,328,789			$	2,291,455			$	2,214,408
Liabilities and Shareholders’ Equity
Liabilities
Deposits
Demand			975,548				942,633				973,678				913,986				928,958
Savings, NOW and money market			407,028				413,904				415,132				414,716				382,002
Time			504,819				516,635				503,408				487,032				469,674
Total deposits			1,887,395				1,873,172				1,892,217				1,815,734				1,780,634
Short-term borrowings			142,422				102,570				45,068				88,251				62,663
Long-term debt			68,903				73,247				73,181				78,587				100,097
Interest Payable			2,505				2,575				2,644				2,962				3,410
Other Liabilities			29,794				22,402				22,161				20,576				22,451
Total Liabilities			2,131,019				2,073,966				2,035,271				2,006,110				1,969,255
Shareholders’ Equity
Common stock			137				137				137				137				122
Additional paid-in capital			38,681				38,683				38,536				38,377				8,406
Retained earnings			273,739				264,515				255,670				247,505				237,366
Accumulated other comprehensive loss			(1,250	)			(717	)			(825	)			(675	)			(741	)
Total Shareholders’ equity			311,307				302,618				293,518				285,344				245,153
Total liabilities and shareholders’ equity		$	2,442,326			$	2,376,584			$	2,328,789			$	2,291,454			$	2,214,408

8

Statement of Operations (unaudited)																										Table 3
		As of and for the Three Months Ended																				As of and for the Nine Months Ended
(dollars in thousands)		September 30, 2026				June 30, 2026				March 31, 2026				December 31, 2025				September 30, 2025				September 30, 2026				September 30, 2025
Interest and Dividend Income
Loans, including fees		$	29,605			$	28,396			$	27,675			$	27,866			$	28,074			$	85,676			$	84,436
Debt securities-taxable			829				832				838				739				929				2,499				2,974
Debt securities-tax-exempt			105				109				114				114				102				328				328
Dividends on restricted stock			131				151				147				157				156				429				464
Interest-bearing deposits			763				666				689				1,082				760				2,118				3,444
Total interest and dividend income			31,433				30,154				29,463				29,958				30,021				91,050				91,646
Interest expense
Deposits			8,355				8,032				8,315				8,441				8,654				24,702				28,665
Short-term borrowings			46				40				47				18				55				133				130
Long-term debt			545				567				623				689				1,090				1,735				3,230
Total interest expense			8,946				8,639				8,985				9,148				9,799				26,570				32,025
Net interest income			22,487				21,515				20,478				20,810				20,222				64,480				59,620
Provision for credit losses			348				399				122				463				-				869				-
Net interest income after provision for credit losses			22,139				21,116				20,356				20,347				20,222				63,611				59,620
Noninterest Income
Customer service fees			778				774				781				779				735				2,334				2,064
Net gains on sales of premises and equipment			-				30				-				44				20				30				25
Net gains on sales of foreclosed assets			-				-				107				48				110				107				113
ATM fees			985				977				854				877				846				2,816				2,537
Increase in BOLI			461				315				312				342				306				1,088				950
Other			475				554				537				577				609				1,566				1,604
Total noninterest income			2,699				2,650				2,591				2,667				2,626				7,941				7,293

9

Statement of Operations (unaudited)																										Table 3
		As of and for the Three Months Ended																				As of and for the Nine Months Ended
(dollars in thousands)		September 30, 2026				June 30, 2026				March 31, 2026				December 31, 2025				September 30, 2025				September 30, 2026				September 30, 2025
Noninterest Expense
Salaries and employee benefits		$	5,988			$	5,683			$	5,716			$	5,753			$	5,729			$	17,387			$	17,012
Occupancy			843				856				843				877				738				2,542				2,529
Data processing			1,136				1,099				1,101				1,068				1,103				3,336				3,461
Deposit insurance premiums			259				202				242				234				267				703				738
Professional fees			131				440				209				229				136				780				617
Depreciation and amortization			992				942				933				1,001				955				2,867				2,706
Other			1,652				1,650				1,440				1,461				1,624				4,742				4,795
Loss on retirement of debt			-				-				603				-				-				603				-
Total noninterest expense			11,001				10,872				11,087				10,623				10,552				32,960				31,858
Income before income taxes			13,837				12,894				11,860				12,391				12,296				38,592				35,054
Provision for income taxes			2,969				2,678				2,326				2,224				2,829				7,973				7,997
Net Income			10,868				10,216				9,534				10,167				9,467				30,619				27,057
Less: Net Income Attributable to Noncontrolling Interest			-				-				-				-				-				-				-
Net Income attributable to Commercial Bancgroup, Inc.		$	10,868			$	10,216			$	9,534			$	10,167			$	9,467			$	30,619			$	27,057

10

QTD Average Balances and Yields/Rates (unaudited)																																		Table 4
		Three Months Ended
(dollars in thousands)		September 30, 2026												June 30, 2026												March 31, 2026
		Average Balance				Interest				Yield/ Rate				Average Balance				Interest				Yield/ Rate				Average Balance				Interest				Yield/ Rate
Interest Earning Assets
Gross loans, net of unearned income		$	1,948,090			$	29,605				6.1	%		$	1,902,119			$	28,396				6.0	%		$	1,883,103			$	27,675				5.9	%
Investment securities			132,441				1,065				3.2	%			138,726				1,092				3.1	%			140,223				1,099				3.1	%
Other interest-earning assets			93,800				763				3.3	%			77,015				666				3.5	%			85,953				689				3.2	%
Total interest-earning assets			2,174,331				31,433				5.8	%			2,117,860				30,154				5.7	%			2,109,279				29,463				5.6	%
Noninterest-earning assets:
Allowance for credit losses			(18,892	)											(18,497	)											(18,283	)
Noninterest-earning assets			202,006												202,388												205,119
Total Assets			2,357,445												2,301,751												2,296,115
Interest-bearing liabilities:
Interest-bearing DDAs			567,717				2,853				2.0	%			540,531				2,501				1.9	%			575,981				2,809				2.0	%
NOW, savings and MMDA deposits			409,530				1,367				1.3	%			417,468				1,415				1.4	%			412,533				1,425				1.4	%
Time Deposits			517,679				4,135				3.2	%			494,379				4,116				3.3	%			479,804				4,081				3.4	%
Federal Home Loan bank advances			58,424				431				3.0	%			60,270				452				3.0	%			60,522				467				3.1	%
Other borrowings			17,395				160				3.7	%			18,050				155				3.4	%			20,355				203				4.0	%
Total interest-bearing liabilities			1,570,745				8,946				2.3	%			1,530,698				8,639				2.3	%			1,549,195				8,985				2.3	%
Noninterest bearing liabilities:
Noninterest bearing deposits			446,743												444,701												430,842
Other liabilities			33,029												28,723												27,593
Total noninterest bearing liabilities			479,772												473,424												458,435
Shareholders’ equity			306,929												297,631												288,485
Total liabilities and shareholders’ equity			2,357,446												2,301,753												2,296,115
Net interest income							22,487												21,515												20,478
Net interest rate spread											3.50	%											3.44	%											3.27	%
Net interest margin											4.14	%											4.06	%											3.88	%
Cost of total deposits											1.72	%											1.69	%											1.75	%
Cost of total funding											1.77	%											1.75	%											1.82	%

11

YTD Average Balances and Yields/Rates (unaudited)																						Table 5
		Nine Months Ended
		September 30, 2026												September 30, 2025
(dollars in thousands)		Average Balance				Interest				Yield/ Rate				Average Balance				Interest				Yield/ Rate
Interest Earning Assets
Gross loans, net of unearned income			1,911,104				85,676				6.0	%			1,786,357				84,435				6.3	%
Investment securities			137,130				3,256				3.2	%			180,975				3,766				2.8	%
Other interest-earning assets			85,589				2,118				3.3	%			111,265				3,444				4.1	%
Total interest-earning assets			2,133,823				91,050				5.7	%			2,078,597				91,645				5.9	%
Noninterest-earning assets:
Allowance for credit losses			(18,557	)											(18,151	)
Noninterest-earning assets			203,171												175,750
Total Assets			2,318,437												2,236,196
Interest-bearing liabilities:
Interest-bearing DDAs			561,410				8,163				1.9	%			538,268				9,083				2.2	%
NOW, savings and MMDA deposits			413,177				4,207				1.4	%			385,694				4,318				1.5	%
Time Deposits			497,287				12,332				3.3	%			533,863				15,264				3.8	%
Federal Home Loan bank advances			59,739				1,350				3.0	%			62,965				1,334				2.8	%
Other borrowings			18,600				518				3.7	%			45,160				2,026				6.0	%
Total interest-bearing liabilities			1,550,213				26,570				2.3	%			1,565,950				32,025				2.7	%

12

Loan Data (unaudited)																																		Table 6
		As of Quarter Ended
		September 30, 2026								June 30, 2026								March 31, 2026								December 31, 2025								September 30, 2025
(dollars in thousands)		Amount				% of Total				Amount				% of Total				Amount				% of Total				Amount				% of Total				Amount				% of Total
Real Estate Loans
Commercial		$	1,182,947				59	%		$	1,140,480				59	%		$	1,114,516				59	%		$	1,113,440				59	%		$	1,002,192				57	%
Construction and land development			197,644				10	%			201,781				10	%			195,189				10	%			176,688				9	%			201,399				11	%
Residential			386,584				20	%			387,142				20	%			383,346				20	%			377,943				20	%			376,769				21	%
Other			18,108				1	%			18,336				1	%			14,511				1	%			14,824				1	%			14,831				1	%
Commercial			184,715				9	%			179,935				9	%			171,029				9	%			174,248				9	%			154,732				9	%
Consumer and other			19,326				1	%			19,535				1	%			19,497				1	%			22,867				1	%			23,651				1	%
Total loans			1,989,324				100	%			1,947,209				100	%			1,898,088				100	%			1,880,010				100	%			1,773,574				100	%
Deferred loan fees and discounts			5,998								6,673								5,914								6,477								6,381
Allowance for credit
Losses			19,029								18,722								18,329								18,096								17,942
Loans, net			1,964,297								1,921,813								1,873,845								1,855,437								1,749,251

13

Nonperforming Assets (unaudited)																		Table 7
		As of the Quarter Ended
(dollars in thousands)		September 30, 2026				June 30, 2026				March 31, 2026				December 31, 2025				September 30, 2025
Nonaccrual loans		$	6,686			$	6,661			$	5,861			$	6,245			$	5,390
Past due loans 90 days and still accruing			-				-				-				-				-
Total nonperforming loans			6,686				6,661				5,861				6,245				5,390
Other real estate owned			888				755				575				253				533
Total nonperforming assets		$	7,574			$	7,416			$	6,436			$	6,498			$	5,923
Allowance for credit losses		$	19,029			$	18,722			$	18,329			$	18,096			$	17,942
Total loans outstanding at end of period net of deferred loan fees and discounts		$	1,983,326			$	1,940,536			$	1,892,174			$	1,873,533			$	1,767,193
Nonperforming loans to total loans			0.34	%			0.34	%			0.31	%			0.33	%			0.31	%
Nonperforming assets to total loans and OREO			0.38	%			0.38	%			0.34	%			0.35	%			0.34	%
Allowance for credit losses to nonperforming loans			285	%			281	%			313	%			290	%			333	%
Allowance for credit losses to total loans			0.96	%			0.96	%			0.97	%			0.97	%			1.02	%
Nonaccrual loans to total assets			0.27	%			0.28	%			0.25	%			0.27	%			0.24	%
Nonperforming assets to total assets			0.31	%			0.31	%			0.28	%			0.28	%			0.27	%

14

Allowance for credit losses (unaudited)																										Table 8
		As of and for the Three Months Ended																				As of and for the Nine Months Ended
(dollars in thousands)		September 30, 2026				June 30, 2026				March 31, 2026				December 31, 2025				September 30, 2025				September 30, 2026				September 30, 2025
Average loans outstanding		$	1,948,090			$	1,902,119			$	1,883,103			$	1,807,127			$	1,767,379			$	1,911,104			$	1,786,357
Total loans outstanding at end of period net of deferred loan fees and discounts			1,983,326				1,940,536				1,892,174				1,873,533				1,767,193				1,983,326				1,767,193
ACL balance, beginning of period			18,722				18,329				18,096				17,942				17,989				18,096				18,205
Charge-offs:
Commercial real estate			-				-				-				(284	)			-				-				(18	)
Construction and land development			-				-				-				-				-				-				-
Residential real estate			-				-				-				-				-				-				(121	)
Commercial			(30	)			-				-				(48	)			-				(30	)			(314	)
Consumer and other			(22	)			(18	)			(15	)			(13	)			(186	)			(55	)			(237	)
Total charge-offs			(52	)			(18	)			(15	)			(345	)			(186	)			(85	)			(690	)
Recoveries:
Commercial real estate			-				-				114				-				108				114				151
Construction and land development			-				-				-				-				-				-				202
Residential real estate			-				1				-				20				26				1				44
Commercial			1				1				1				7				1				3				4
Consumer and other			10				5				11				56				4				26				26
Total recoveries			11				7				126				83				139				144				427
Net (charge-offs) recoveries			(41	)			(11	)			111				(262	)			(47	)			59				(263	)
Provision for credit losses			348				404				122				416				-				874				-
ACL balance at end of period		$	19,029			$	18,722			$	18,329			$	18,096			$	17,942			$	19,029			$	17,942
Ratio of allowance to end of period loans			0.96	%			0.96	%			0.97	%			0.97	%			1.02	%			0.96	%			1.02	%
Ratio of net (charge-offs) recoveries to average loans			0.00	%			0.00	%			0.01	%			-0.01	%			0.00	%			0.00	%			-0.01	%

15

Loan Risk Ratings (unaudited)																		Table 9
		As of the Quarter Ended
(dollars in thousands)		September 30, 2026				June 30, 2026				March 31, 2026				December 31, 2025				September 30, 2025
Real Estate Loans
Commercial
Pass		$	1,166,346			$	1,131,324			$	1,105,529			$	1,104,532			$	999,788
Special mention			15,963				8,835				8,897				8,814				1,776
Substandard			638				321				90				94				628
Total Commercial		$	1,182,947			$	1,140,480			$	1,114,516			$	1,113,440			$	1,002,192
Construction and land development
Pass		$	197,201			$	201,389			$	194,983			$	176,014			$	201,363
Special mention			412				359				171				78				-
Substandard			31				32				35				596				36
Total Construction and land development		$	197,644			$	201,781			$	195,189			$	176,688			$	201,399
Residential
Pass		$	379,876			$	380,157			$	377,179			$	371,583			$	371,226
Special mention			624				631				545				833				838
Substandard			6,084				6,354				5,622				5,527				4,705
Total Residential		$	386,584			$	387,142			$	383,346			$	377,943			$	376,769
Other
Pass		$	18,108			$	18,336			$	14,511			$	14,824			$	14,831
Special mention			-				-				-				-				-
Substandard			-				-				-				-				-
Total Other		$	18,108			$	18,336			$	14,511			$	14,824			$	14,831
Commercial
Pass		$	183,830			$	179,002			$	170,093			$	173,324			$	153,819
Special mention			666				685				701				793				733
Substandard			220				248				235				131				180
Total Commercial		$	184,715			$	179,934			$	171,029			$	174,248			$	154,732
Consumer and Other
Pass		$	19,218			$	19,423			$	19,399			$	22,768			$	23,616
Special mention			30				34				44				21				5
Substandard			77				78				54				79				30
Total Consumer		$	19,326			$	19,535			$	19,497			$	22,868			$	23,651
Total loans
Pass		$	1,964,579			$	1,929,632			$	1,881,694			$	1,863,045			$	1,764,643
Special mention			17,695				10,543				10,358				10,539				3,352
Substandard			7,050				7,034				6,036				6,427				5,579
Total Gross loans		$	1,989,324			$	1,947,209			$	1,898,088			$	1,880,011			$	1,773,574

16

Non-GAAP Financial Measures

This press release contains certain financial measures that are not financial measures recognized under generally accepted accounting principles in the U.S. (“GAAP”) and, therefore, are considered non-GAAP financial measures and should be read along with the accompanying reconciliation of non-GAAP financial measures to GAAP financial measures. 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 measures 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 measures 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 $250,000) and brokered deposits 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 diluted. We define core net income per share diluted as core net income divided by weighted average diluted 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 ROAE. We define core ROAE as core net income divided by average shareholders’ equity, with average shareholders’ equity based upon the average daily balance of total shareholders’ equity in each period.

● Core ROATCE. We define core ROATCE as core net income divided by total average shareholders’ equity less average intangible assets (goodwill and core deposit intangibles) net of tax impact.

● Pre-tax pre-provision net income (PPNI). We define pre-tax pre-provision net income as pre-tax net income plus provision for credit losses.

● Core efficiency ratio. We define core efficiency ratio as noninterest expenses (less non-recurring expenses), divided by operating revenue (net interest income 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 period.

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

● ROATCE. We define ROATCE as net income divided by total average shareholders’ equity less average intangible assets (goodwill and core deposit intangibles) net of tax impact.

● 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 total 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 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)																										Table 10
		As of and for the Three Months Ended																				As of and for the Nine Months Ended
(dollars in thousands, except per share data)		September 30, 2026				June 30, 2026				March 31, 2026				December 31, 2025				September 30, 2025				September 30, 2026				September 30, 2025
Pre-Tax Pre-Provision Net Income:
Pre-tax income		$	13,837			$	12,894			$	11,860			$	12,391			$	12,296			$	38,592			$	35,054
Add: provision for credit losses			348				399				122				463				-				869				-
Pre-tax pre-provision net income		$	14,185			$	13,293			$	11,982			$	12,854			$	12,296			$	39,461			$	35,054
Tangible Common Equity:
Shareholders’ equity		$	311,307			$	302,618			$	293,518			$	285,344			$	245,153				311,307				245,153
Less: noncontrolling 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)			2,310				2,594				2,875				3,164				3,448				2,310				3,448
Tangible common equity		$	300,486			$	291,513			$	282,132			$	273,669			$	233,194			$	300,486			$	233,194
Pre-Tax Pre-Provision Return on Average Assets:
Total average assets		$	2,357,445			$	2,301,752			$	2,296,115			$	2,249,282			$	2,170,869			$	2,318,437			$	2,236,196
Pre-tax pre-provision net income			14,185				13,293				11,982				12,854				12,296				39,461				35,054
Pre-tax pre-provision return on average assets			2.41	%			2.31	%			2.09	%			2.29	%			2.27	%			2.27	%			2.09	%
Return on Average Tangible Common Equity:
Total average shareholders’ equity		$	306,929			$	297,631			$	288,485			$	259,784			$	239,473			$	297,681			$	229,099
Less: average intangible assets (net of tax benefit)			10,821				11,105				11,386				11,767				11,980			$	11,104			$	12,096
Less: average non controlling interest			-				-				-				-				-				-				-
Average common tangible equity			296,108				286,526				277,099				248,017				227,493				286,577				217,003
Net income to shareholders			10,868				10,216				9,534				10,167				9,467				30,619				27,057
Return on average common tangible equity			14.68	%			14.26	%			13.76	%			16.40	%			16.65	%			14.25	%			16.62	%

18

Non-GAAP Reconciliations (unaudited)
		As of and for the Three Months Ended																				As of and for the Nine Months Ended
(dollars in thousands, except per share data)		September 30, 2026				June 30, 2026				March 31, 2026				December 31, 2025				September 30, 2025				September 30, 2026				September 30, 2025
Tangible Book Value per Share:
Tangible common equity		$	300,486			$	291,513			$	282,132			$	273,669			$	233,194			$	300,486			$	233,194
Shares of common stock outstanding			13,710,195				13,701,270				13,697,987				13,697,987				12,239,644				13,710,195				12,239,644
Tangible book value per share, reported		$	21.92			$	21.28			$	20.60			$	19.98			$	19.05			$	21.92			$	19.05
Tangible Common Equity to Tangible Assets:
Tangible common equity		$	300,486			$	291,513			$	282,132			$	273,669			$	233,194			$	300,486			$	233,194
Total assets			2,442,326				2,376,584				2,328,789				2,291,455				2,214,408				2,442,326				2,214,408
Less: intangible assets			11,629				12,012				12,392				12,767				13,149				11,629				13,149
Tangible assets			2,430,697				2,364,572				2,316,397				2,278,688				2,201,258				2,430,697				2,201,258
Tangible common equity to tangible assets			12.36	%			12.33	%			12.18	%			12.01	%			10.59	%			12.36	%			10.59	%
Core Deposits:
Total Deposits		$	1,887,395			$	1,873,172			$	1,892,217			$	1,815,734			$	1,780,634			$	1,887,395				1,780,634
Less: Time deposits greater than $250,000			108,213				107,910				105,717				103,833				101,767				108,213				101,767
Less: Brokered deposits			47,275				55,375				41,533				47,970				47,970				47,275				47,970
Core deposits		$	1,731,907			$	1,709,887			$	1,744,967			$	1,663,931			$	1,630,897			$	1,731,907			$	1,630,897
Core Net Income:
Net income		$	10,868			$	10,216			$	9,534			$	10,167			$	9,467			$	30,619			$	27,057
Add: Non-recurring Expense			-				-				603				-				-				603				309
Less: tax effect			-				-				(133	)			-				-				(133	)			(78	)
Core net income		$	10,868			$	10,216			$	10,004			$	10,167			$	9,467			$	31,088				27,288
Core Net Income per Share:
Core net income		$	10,868			$	10,216			$	10,004			$	10,167			$	9,467			$	31,088			$	27,288
Weighted average common shares outstanding			13,720,149				13,722,727				13,712,162				13,704,030				12,240,568				13,718,682				12,206,128
Core net income per share diluted		$	0.79			$	0.74			$	0.73			$	0.74			$	0.77			$	2.27			$	2.24

19

Non-GAAP Reconciliations (unaudited)
		As of and for the Three Months Ended																				As of and for the Nine Months Ended
(dollars in thousands, except per share data)		September 30, 2026				June 30, 2026				March 31, 2026				December 31, 2025				September 30, 2025				September 30, 2026				September 30, 2025
Core Return on Average Assets:
Core net income		$	10,868			$	10,216			$	10,004			$	10,167			$	9,467			$	31,088			$	27,288
Average assets			2,357,445				2,301,752				2,296,115				2,249,282				2,170,869				2,318,437				2,236,196
Core return on average assets			1.84	%			1.78	%			1.74	%			1.81	%			1.74	%			1.79	%			1.63	%
Core Return on Average Common Equity:
Total average shareholders’ equity		$	306,929			$	297,631			$	288,485			$	259,784			$	239,473			$	297,681			$	229,099
Core net income		$	10,868			$	10,216			$	10,004			$	10,167			$	9,467			$	31,088			$	27,288
Core return on average common equity			14.16	%			13.73	%			13.87	%			15.65	%			15.81	%			13.92	%			15.88	%
Core Return on Average Tangible Common Equity:
Average tangible common equity		$	296,108			$	286,526			$	277,099			$	248,017			$	227,493			$	286,577			$	217,003
Core net income			10,868				10,216				10,004				10,167				9,467				31,088				27,288
Core return on average tangible common equity			14.68	%			14.26	%			14.44	%			16.40	%			16.65	%			14.46	%			16.77	%
Core Efficiency Ratio:
Net interest income		$	22,487			$	21,515			$	20,478			$	20,810			$	20,222			$	64,480			$	59,620
Noninterest income			2,699				2,650				2,591				2,667				2,626				7,941				7,293
Operating revenue		$	25,186			$	24,165			$	23,069			$	23,477			$	22,848			$	72,421				66,913
Total noninterest expenses			11,001				10,872				11,087				10,623				10,552				32,960				31,858
Less: non-recurring expenses			-				-				603				-				-				603				309
Core noninterest expenses			11,001				10,872				10,484				10,623				10,552				32,357				31,549
Core efficiency ratio			43.68	%			44.99	%			45.45	%			45.25	%			46.18	%			44.68	%			47.15	%
Efficiency ratio			43.68	%			44.99	%			48.06	%			45.25	%			46.18	%			45.51	%			47.61	%

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

3Q 26 Earnings Presentation October 26, 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 ability 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 Branches2,3: 34 Total Assets: 3 $2.4 Billion Total Loans:3 $2.0 Billion Total Deposits:3 $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: Q3 26 YTD percentages are annualized. 3Information as of September 30,2026. Financial Highlights Franchise Map3 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 52% demand deposits (as of September 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 $21.92 2021 2022 2023 2024 2025 Q3 2026 $1.58 $2.08 $2.54 $2.75 $2.98 $2.27 2021 2022 2023 2024 2025 Q3 2026 7 Driving Shareholder Value is Our Top Priority Core Earnings Per Share1 Tangible Book Value Per Share1 Reported PPNI ($M)1 Core ROAA1 Core ROATCE1 Core Efficiency Ratio1 $25.7 $33.1 $43.0 $42.4 $47.9 $39.5 2021 2022 2023 2024 2025 Q3 2026 1.14% 1.46% 1.56% 1.51% 1.67% 1.79% 2021 2022 2023 2024 2025 Q3 2026 15.1% 17.2% 18.7% 17.6% 16.7% 14.5% 2021 2022 2023 2024 2025 Q3 2026 56% 50% 47% 49% 46.7% 44.7% 2021 2022 2023 2024 2025 Q3 2026 2 Compound Annual Growth Rate (CAGR) is from December 31, 2020 to December 31, 2025 for all graphs (excludes Q3 2026). 1Non-GAAP financial measure. See Appendix for a reconciliation of Non-GAAP financial measures.

$140 $158 $196 $220 $285 $311 2021 2022 2023 2024 2025 Q3 2026 $1,449 $1,421 $1,820 $1,939 $1,816 $1,887 2021 2022 2023 2024 2025 Q3 2026 $1,194 $1,318 $1,670 $1,789 $1,855 $1,964 2021 2022 2023 2024 2025 Q3 2026 $1,713 $1,742 $2,197 $2,301 $2,291 $2,442 2021 2022 2023 2024 2025 Q3 2026 8 Strong Long-term Balance Sheet Growth Total Assets ($M) Total Net Loans ($M) Total Deposits ($M) Total Equity ($M) Compound Annual Growth Rate (CAGR) is from December 31, 2020 to December 31, 2025 for all graphs (excludes Q3 2026).

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 ~1.0 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 ■ We believe these markets have been deemphasized by national and regional banks which allows for continued growth potential 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% 12.4% 10.2% 11.1% 15.0% 14.7% 11.4% 12.4% 16.0% 15.6% 2023 2024 2025 Q3 2026 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% 8% 8% 6% 6% 2023 2024 2025 Q3 2026 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 Q3 2026 Tang. Common Equity/Tang. Assets 1 8.0% 9.0% 8.1% 9.1% 12.0% 12.4% Common Equity Tier 1 Capital 10.9% 11.5% 10.2% 11.1% 15.0% 14.7% Total Risk-based Capital 12.2% 12.8% 11.4% 12.4% 16.0% 15.6% Tier 1 Leverage 8.4% 9.5% 8.8% 9.5% 12.2% 12.8% 2021 2022 2023 2024 2025 Q3 2026 CRE less owner occupied to Total Risk-based Capital 264% 278% 318% 304% 322% 307% AC&D to Total Risk-based Capital 87% 87% 90% 79% 71% 72%

11 Valuable Deposit Franchise 24% 25% 22% 20% 24% 20% 23% 25% 25% 19% 14% 32% 5% 5% 4% 9% 10% 11% 16% 16% 12% 10% 11% 11% 21% 19% 18% 20% 22% 23% 12% 10% 18% 22% 20% 4% 1,449 1,421 1,820 1,939 1,816 1,887 $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 Q3 2026 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% 3Q 2024 4Q 2024 1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026 2Q 2026 3Q 2026 Cost of Deposits Interest-bearing DDAs Savings & MMDA Certificates of deposit Total deposits Dollars in millions

$624 $732 $814 $984 $997 $1,062 2021 2022 2023 2024 2025 Q3 2026 Due in One Year or Less 20% Due after One Year Through Five Years 47% Due after Five Years 33% Fixed Rate 39% Adjustable Rate 61% 12 Loan Portfolio Detail Commercial Loan Growth ($M) Loan Maturity Schedule as of September 30, 2026 Loan Portfolio Highlights Fixed vs. Adjustable-Rate Loans as of September 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 Compound Annual Growth Rate (CAGR) is from December 31, 2020 to December 31, 2025 for all graphs (excludes Q3 2026)

$8,567 $5,810 $7,981 $10,825 $16,967 $24,745 0.71% 0.44% 0.47% 0.60% 0.91% 1.24% 2021 2022 2023 2024 2025 YTD $7,095 $5,722 $6,276 $5,893 $6,498 $7,574 0.41% 0.33% 0.29% 0.26% 0.28% 0.31% 2021 2022 2023 2024 2025 Q3 2026 13 Asset Quality Criticized and Classified Loans / Loans (%) Allowance for Credit Losses / NPAs (%) NPAs and 90 Days Past Due / Assets (%) Net Charge-offs (Recoveries) / Average Loans (%) $113 ($1,092) $87 $259 $525 $59 0.01% -0.09% 0.01% 0.01% 0.03% 0.01% 2021 2022 2023 2024 2025 Q3 2026 $8,567 $5,810 $7,981 $10,825 $16,967 $24,745 0.71% 0.44% 0.47% 0.60% 0.91% 1.24% 2021 2022 2023 2024 2025 Q3 2026 Dollar figures are in thousands ($000)

14 Investment Highlights 1 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

16 (dollars in thousands, except per share data) September 30, 2026 June 30, 2026 March 31, 2026 December 31, 2025 September 30, 2025 September 30, 2026 September 30, 2025 Pre-Tax Pre-Provision Net Income: Pre-tax income 13,837 $ 12,894 $ 11,860 $ 12,391 $ 12,296 $ 38,592 $ 35,054 $ Add: provision for credit losses 348 399 122 463 - 869 - Pre-tax pre-provision net income 14,185 $ 13,293 $ 11,982 $ 12,854 $ 12,296 $ 39,461 $ 35,054 $ Tangible Common Equity: Shareholders' equity 311,307 $ 302,618 $ 293,518 $ 285,344 $ 245,153 $ 311,307 245,153 Less: noncontrolling 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) 2,310 2,594 2,875 3,164 3,448 2,310 3,448 Tangible common equity 300,486 $ 291,513 $ 282,132 $ 273,669 $ 233,194 $ 300,486 $ 233,194 $ Pre-Tax Pre-Provision Return on Average Assets: Total average assets 2,357,445 $ 2,301,752 $ 2,296,115 $ 2,249,282 $ 2,170,869 $ 2,318,437 $ 2,236,196 $ Pre-tax pre-provision net income 14,185 13,293 11,982 12,854 12,296 39,461 35,054 Pre-tax pre-provision return on average assets 2.41% 2.31% 2.09% 2.29% 2.27% 2.27% 2.09% Return on Average Tangible Common Equity: Total average shareholders' equity $ 306,929 $ 297,631 $ 288,485 259,784 $ 239,473 $ 297,681 $ 229,099 $ Less: average intangible assets (net of tax benefit) 10,821 11,105 11,386 11,767 11,980 11,104 $ 12,096 $ Less: average non controlling interest - - - - - - - Average common tangible equity 296,108 286,526 277,099 248,017 227,493 286,577 217,003 Net income to shareholders 10,868 10,216 9,534 10,167 9,467 30,619 27,057 Return on average common tangible equity 14.68% 14.26% 13.76% 16.40% 16.65% 14.25% 16.62% As of and for the Nine Months Ended Non-GAAP Reconciliations (unaudited) As of and for the Three Months Ended

17 (dollars in thousands, except per share data) September 30, 2026 June 30, 2026 March 31, 2026 December 31, 2025 September 30, 2025 September 30, 2026 September 30, 2025 Tangible Book Value per Share: Tangible common equity 300,486 $ 291,513 $ 282,132 $ 273,669 $ 233,194 $ 300,486 $ 233,194 $ Shares of common stock outstanding 13,710,195 13,701,270 13,697,987 13,697,987 12,239,644 13,710,195 12,239,644 Tangible book value per share, reported 21.92 $ 21.28 $ 20.60 $ 19.98 $ 19.05 $ 21.92 $ 19.05 $ Tangible Common Equity to Tangible Assets: Tangible common equity 300,486 $ 291,513 $ 282,132 $ 273,669 $ 233,194 $ 300,486 $ 233,194 $ Total assets 2,442,326 2,376,584 2,328,789 2,291,455 2,214,408 2,442,326 2,214,408 Less: intangible assets 11,629 12,012 12,392 12,767 13,149 11,629 13,149 Tangible assets 2,430,697 2,364,572 2,316,397 2,278,688 2,201,258 2,430,697 2,201,258 Tangible common equity to tangible assets 12.36% 12.33% 12.18% 12.01% 10.59% 12.36% 10.59% Core Deposits: Total Deposits 1,887,395 $ 1,873,172 $ 1,892,217 $ 1,815,734 $ 1,780,634 $ 1,887,395 $ 1,780,634 Less: Time deposits greater than $250,000 108,213 107,910 105,717 103,833 101,767 108,213 101,767 Less: Brokered deposits 47,275 55,375 41,533 47,970 47,970 47,275 47,970 Core deposits 1,731,907 $ 1,709,887 $ 1,744,967 $ 1,663,931 $ 1,630,897 $ 1,731,907 $ 1,630,897 $ Core Net Income: Net income 10,868 $ 10,216 $ 9,534 $ 10,167 $ 9,467 $ 30,619 $ 27,057 $ Add: Non-recurring Expense - - 603 - - 603 309 Less: tax effect - - (133) - - (133) (78) Core net income 10,868 $ 10,216 $ 10,004 $ 10,167 $ 9,467 $ 31,088 $ 27,288 Core Net Income per Share: Core net income 10,868 $ 10,216 $ 10,004 $ 10,167 $ 9,467 $ 31,088 $ 27,288 $ Weighted average common shares outstanding 13,701,368 13,700,296 13,697,987 13,697,987 12,239,644 13,699,901 12,205,817 Core net income per share 0.79 $ 0.75 $ 0.73 $ 0.74 $ 0.77 $ 2.27 $ 2.24 $ Core Return on Average Assets: Core net income 10,868 $ 10,216 $ 10,004 $ 10,167 $ 9,467 $ 31,088 $ 27,288 $ Average assets 2,357,445 2,301,752 2,296,115 2,249,282 2,170,869 2,318,437 2,236,196 Core return on average assets 1.84% 1.78% 1.74% 1.81% 1.74% 1.79% 1.63% As of and for the Nine Months Ended Non-GAAP Reconciliations (unaudited) As of and for the Three Months Ended

18 (dollars in thousands, except per share data) September 30, 2026 June 30, 2026 March 31, 2026 December 31, 2025 September 30, 2025 September 30, 2026 September 30, 2025 Core Return on Average Common Equity: Total average shareholders' equity 306,929 $ 297,631 $ 288,485 $ 259,784 $ 239,473 $ 297,681 $ 229,099 $ Core net income 10,868 $ 10,216 $ 10,004 $ 10,167 $ 9,467 $ 31,088 $ 27,288 $ Core return on average common equity 14.16% 13.73% 13.87% 15.65% 15.81% 13.92% 15.88% Core Return on Average Tangible Common Equity: Average tangible common equity 296,108 $ 286,526 $ 277,099 $ 248,017 $ 227,493 $ 286,577 $ 217,003 $ Core net income 10,868 10,216 10,004 10,167 9,467 31,088 27,288 Core return on average tangible common equity 14.68% 14.26% 14.44% 16.40% 16.65% 14.46% 16.77% Core Efficiency Ratio: Net interest income 22,487 $ 21,515 $ 20,478 $ 20,810 $ 20,222 $ 64,480 $ 59,620 $ Noninterest income 2,699 2,650 2,591 2,667 2,626 7,941 7,293 Operating revenue 25,186 $ 24,165 $ 23,069 $ 23,477 $ 22,848 $ 72,421 $ 66,913 Total noninterest expenses 11,001 10,872 11,087 10,623 10,552 32,960 31,858 Less: non-recurring expenses - - 603 - - 603 309 Core noninterest expenses 11,001 10,872 10,484 10,623 10,552 32,357 31,549 Core efficiency ratio 43.68% 44.99% 45.45% 45.25% 46.18% 44.68% 47.15% Efficiency ratio 43.68% 44.99% 48.06% 45.25% 46.18% 45.51% 47.61% As of and for the Nine Months Ended Non-GAAP Reconciliations (unaudited) As of and for the Three Months Ended

Exhibit 99.3

COMMERCIAL BANCGROUP, INC. ANNOUNCES QUARTERLY CASH DIVIDEND

HARROGATE, TN (October 26, 2026) – Commercial Bancgroup, Inc. (“Commercial”) (NASDAQ:CBK), the parent company of Commercial Bank (the “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 December 30, 2026, to shareholders of record as of the close of business on December 15, 2026.

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 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 ability 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 Commercial 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; (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 press release 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, or in any of the Commercial’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 OCTOBER 26, 2026 549.6 KB
• EX-99.2 INVESTOR PRESENTATION OF COMMERCIAL BANCGROUP, INC., DATED OCTOBER 26, 2026 42.0 KB
• EX-99.3 PRESS RELEASE OF COMMERCIAL BANCGROUP, INC., DATED OCTOBER 26, 2026, ANNOUNCING 12.1 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