QUARTERLY FINANCIAL RESULTS

2025 SHAREHOLDER MEETING

Dear Lexicon Bancorp Shareholders,

Reflecting on 2024, we are proud to celebrate many significant milestones. This year marked our 5th anniversary, highlighting our remarkable progress since our founding.

Financially, we achieved substantial growth in net income, loans, and deposits while maintaining strong liquidity reserves and increasing our book value per share. The following unaudited highlights demonstrate our operating results and financial position for 2024 compared to 2023:

• Consolidated Net Income for 2024 was $2.2 million, compared to $969,000 for 2023, up 131%.
  • Returns on Average Assets and Shareholders’ Equity were 0.79% and 8.26%, respectively, for 2024.
• Consolidated Total Assets were $288.1 million at December 31, 2024, compared to $274.2 million at December 31, 2023, up 5%.
  • Loans, excluding PPP loans, were $171.9 million, compared to $159.3 million, up 8%. The allowance for credit losses totaled $2.6 million, or 1.5% of total loans, at December 31, 2024.
  • Deposits were $256.4 million, compared to $236.8 million, up 8%.
  • Consolidated Shareholders’ Equity was $28.6 million, compared to $26.0 million, reflecting a book value per share of $11.21, compared to $10.17, up 10%.
  • Community Bank Leverage Ratio was 10.5% at December 31, 2024, above the required regulatory level of 9.0%.
  • On-balance sheet liquidity was $111.7 million, consisting of cash, cash equivalents, and investment securities, representing 44% of total deposits.

Our growth underscores our strength and resilience in a dynamic environment, and we are well-positioned to continue meeting the needs of our current and future clients and community.

We were honored to receive recognition for the fourth consecutive year in the Las Vegas Review-Journal’s Best of Las Vegas Awards, earning gold accolades in four categories: Best Bank, Best Commercial Banking, Best Commercial Lending, and Best Finance Customer Service. These awards affirm our reputation as the premier bank for businesses of all sizes across Southern Nevada.

In addition to our financial success and recognition, we expanded our community presence through sponsorships with the Las Vegas Desert Dogs professional lacrosse team and the Henderson Silver Knights professional hockey team, strengthening our brand in the Henderson market.

We also proudly opened the Lexicon storefront inside Junior Achievement’s BizTown, emphasizing our commitment to financial literacy and the next generation of leaders. Through initiatives like our Community Spotlight program and various charitable events, we deepened our impact on the communities we serve.

I remain incredibly proud of our team, whose dedication to providing concierge-level service drives our success, and our shareholders, whose unwavering support enables our continued growth. We look forward to sharing more details at the 2025 Lexicon Bancorp Annual Shareholder Meeting, scheduled for May 1st, 2025, at 6:00 pm in the Tivoli Village Piazza Pavillion. Event details will be forthcoming.

Thank you for being an integral part of our journey. Together, we reaffirm our position as the “Best Bank for Business” in Southern Nevada.

All the best,

ABOUT LEXICON BANCORP

Lexicon Bancorp was established in July 2023 to become the bank holding company for Lexicon Bank. Founded in 2019, Lexicon Bank is Southern Nevada's community-focused banking partner. Lexicon provides personal, comprehensive banking services to business and individual banking clients, emphasizing creating and nurturing long-term relationships. By providing personalized services to all clients, Lexicon helps to foster Southern Nevada's economy and community—ultimately helping to grow and develop the region's local businesses. The Bank is redefining banking as it should be in Southern Nevada by creating a concierge-like experience for businesses, regardless of size. Lexicon Bank is located in Tivoli Village at 330 S. Rampart Blvd., Suite 150. The Bank is open from 9 A.M. to 5 P.M. Monday through Friday and 9 A.M. to 12 P.M. on Saturdays. Clients can contact us at 702.780.7700 or online at lexiconbank.com. Follow us on Facebook, Instagram, LinkedIn, and X. Lexicon Bank is a member of the FDIC.