Authorization

/C O R R E C T I O N -- Centric Financial Corporation/

In the news release, Centric Financial Corporation Announces Earnings for 4th Quarter and Year End 2020, issued 18-Feb-2021 by Centric Financial Corporation over PR Newswire, we are advised by the company that changes have been made: 1) In the 5th paragraph, under the "Results of Operations - Fourth Quarter" heading, "$10 thousand" should read "$108 thousand". 2) In the 7th paragraph of the same section, phrasing in the last sentence was updated. 3) In the table titled "Per Share Data & Performance Ratios (Unaudited)", Common shares outstanding for Three Months Ended Dec 31, 2020 should read "8,448,903" rather than "8,790,907" as originally issued inadvertently. The complete, corrected release follows:Centric Financial Corporation Announces Earnings for 4th Quarter and Year End 2020HARRISBURG, Pa., Feb. 18, 2021 /PRNewswire/ -- Centric Financial Corporation ("Centric" or "the Company") (OTC: CFCX), the parent company of Centric Bank ("the Bank"), today reported net income for the fourth quarter and year ended December 31, 2020 of $2.8 million, or $0.33, per basic and diluted share and $9.1 million, or $1.05, per basic and diluted share, respectively.
/C O R R E C T I O N -- Centric Financial Corporation/
Highlights of Performance:

Net income increased $335 thousand, or 14%, from third quarter, an increase of $0.05 per basic and diluted share and increased $866 thousand, or 45%, over fourth quarter 2019, an increase of $0.11 per basic and diluted share.



Net interest margin increased 0.08% over third quarter 2020, ending at 3.64%.



Cost of deposits decreased to 0.43%, a reduction of 0.04% and 0.97%, respectively, from previous quarter and fourth quarter 2019.



Return on Average Assets of 1.05% for fourth quarter 2020 increased 0.11% over third quarter and 0.08% over fourth quarter 2019.



Fourth quarter Return on Average Equity of 13.44% increased 1.55% over third quarter and increased 3.36% over fourth quarter 2019.



Tangible book value per share increased $0.30 per share, or 3%, from the previous quarter and increased $1.15 per share, or 13% over the fourth quarter 2019.



Loans outstanding increased $18 million from previous quarter and $261 million from the prior year-end.A  Excluding PPP, core loans increased $32 million, or 4%, from third quarter and $66 million, over fourth quarter 2019.

Patricia A. Husic, President & CEO of Centric Financial Corporation and Centric Bank stated, "Centric Bank had a strong finish to the year, with the fourth quarter reporting the highest net income for 2020. Our key performance indicators reflected impactful improvements for the year. Return on equity for 2020 increased to 13% while earnings per share grew to $1.05, an increase of 26% from 2019, due to improved net income and the impact of the share buyback program implemented in the year.
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