Reviewing Commercial Bancgroup (NASDAQ:CBK) & Central Bancompany (NASDAQ:CBC)

Commercial Bancgroup (NASDAQ:CBK) and Central Bancompany (NASDAQ:CBC) are both financial services companies, but which is the superior stock? We will compare the two businesses based on the strength of their profitability, dividends, risk, earnings, analyst recommendations, valuation and institutional ownership.

Analyst Recommendations

This is a breakdown of recent recommendations for Commercial Bancgroup and Central Bancompany, as provided by MarketBeat.

	Sell Ratings	Hold Ratings	Buy Ratings	Strong Buy Ratings	Rating Score
Commercial Bancgroup	1	0	0	1	2.50
Central Bancompany	0	2	4	0	2.67

Central Bancompany has a consensus price target of $28.63, suggesting a potential upside of 11.99%. Given Central Bancompany’s stronger consensus rating and higher possible upside, analysts clearly believe Central Bancompany is more favorable than Commercial Bancgroup.

Profitability

This table compares Commercial Bancgroup and Central Bancompany’s net margins, return on equity and return on assets.

	Net Margins	Return on Equity	Return on Assets
Commercial Bancgroup	N/A	N/A	N/A
Central Bancompany	N/A	N/A	N/A

Dividends

Commercial Bancgroup pays an annual dividend of $0.40 per share and has a dividend yield of 1.4%. Central Bancompany pays an annual dividend of $0.48 per share and has a dividend yield of 1.9%. Commercial Bancgroup pays out 26.8% of its earnings in the form of a dividend.

Valuation and Earnings

This table compares Commercial Bancgroup and Central Bancompany”s gross revenue, earnings per share (EPS) and valuation.

	Gross Revenue	Price/Sales Ratio	Net Income	Earnings Per Share	Price/Earnings Ratio
Commercial Bancgroup	$131.53 million	3.04	$37.20 million	$1.49	19.58
Central Bancompany	$1.22 billion	5.03	N/A	N/A	N/A

Commercial Bancgroup has higher earnings, but lower revenue than Central Bancompany.

Summary

Central Bancompany beats Commercial Bancgroup on 7 of the 8 factors compared between the two stocks.

About Commercial Bancgroup

We are a bank holding company headquartered in Harrogate, Tennessee, and have elected under the Bank Holding Company Act of 1956, as amended (the “BHC Act”), to become a financial holding company. We were incorporated in Tennessee in 1975, and we operate primarily through our wholly owned bank subsidiary, Commercial Bank, a Tennessee banking corporation organized in 1976. The Bank is a full-service community banking institution that offers traditional consumer and commercial products and services to serve businesses and individuals in select markets in Kentucky, North Carolina, and Tennessee. Our primary service areas in Tennessee are (i) the metropolitan statistical areas (the “MSAs”) of (a) Nashville-Davidson — Murfreesboro — Franklin, Tennessee (the “Nashville MSA”), (b) Knoxville, Tennessee (the “Knoxville MSA”), and (c) Kingsport-Bristol, Tennessee-Virginia and Johnson City, Tennessee (collectively, the “Tri-Cities MSA”), and (ii) Claiborne County, Cocke County, Union County, and Hamblen County, and their surrounding areas. In Kentucky, we primarily serve the communities in Southeast Kentucky, with branches in Barbourville, Corbin, Cumberland, Harlan, London, Middlesboro, and Pineville. Upon the Bank’s merger with Alliance Bank & Trust Company (“Alliance”) on July 1, 2024, we expanded our services to North Carolina, including parts of the Charlotte-Concord-Gastonia, North Carolina-South Carolina MSA (the “Charlotte MSA”), with branches in Shelby, Kings Mountain and Gastonia. We also operate one loan production office (“LPO”) in Lincolnton, North Carolina. The Bank was founded as Commercial Bank of Claiborne County, a full-service Tennessee-chartered bank, by E. Oscar Robertson on June 9, 1976. On November 1, 1976, the Bank opened for business in Harrogate, Tennessee. Approximately three years later, on January 8, 1979, we opened our first branch in Speedwell, Tennessee. In the following years, our growth has been driven primarily by organic expansion in existing markets and into new markets and through our strategic acquisitions. Over the last five years, we have had a total asset compound annual growth rate (“CAGR”) of 8% while maintaining profitability, credit quality and prudent capital management. Please refer to the “Total Assets” chart below on page 2 of this prospectus for the annual growth in our total assets for each of the fiscal years ended December 31, 2020 through 2024 and for the six months ended June 30, 2025. The following information summarizes our growth history: • On April 23, 1986, we acquired Union County Bank’s three branch locations in Maynardville and Luttrell, Tennessee through an FDIC-assisted transaction. • On November 16, 2001, we acquired Middlesboro Federal Bank (Middlesboro, Kentucky) with its four offices located in Middlesboro, Pineville, and Cumberland, Kentucky, and in the Fountain City community of Knoxville, Tennessee. • On September 8, 2008, we acquired The Union National Bank and Trust Company of Barbourville (Barbourville, Kentucky) with its five branch locations in Barbourville and Corbin, Kentucky. • By the end of 2008, our total assets had increased to over $700 million. • On March 1, 2014, we opened an LPO in Nashville, Tennessee, and by December 31, 2014, we had over $18 million in outstanding loan balances in the Nashville MSA. • On April 18, 2016, we acquired National Bank of Tennessee (Newport, Tennessee), which added two new branches to our network. • On August 15, 2017, we announced the acquisition of Citizens Bank (New Tazewell, Tennessee) with its three branch locations in New Tazewell, Harrogate, and Morristown, Tennessee, and an LPO in Kingsport, Tennessee, which was merged into our current Kingsport, Tennessee office. • On March 1, 2019, we transitioned our LPO in Nashville, Tennessee to a full-service branch in Brentwood, Tennessee (part of the Nashville MSA). As of March 31, 2019, we had over $110 million in outstanding loan balances in the Nashville MSA. • On February 1, 2020, we acquired First National Bank and Trust (London, Kentucky) with its four branches in London and Corbin, Kentucky resulting in our total assets exceeding $1.5 billion. • On June 1, 2023, we acquired a majority ownership interest in AB&T Financial Corporation (“AB&T”) (Gastonia, North Carolina), the parent company of Alliance. On June 30, 2024, we acquired the remaining minority ownership interests in AB&T, and on July 1, 2024, Alliance merged with the Bank. The acquisition of Alliance added four branches and one LPO to our network and expanded our reach into North Carolina, including the Charlotte MSA. • We expect to open a de novo branch office in Belmont, North Carolina during 2026, which will further increase our presence in the Charlotte MSA. Our principal executive office is located in Harrogate, Tennessee.

About Central Bancompany

We are a bank holding company headquartered in Jefferson City, Missouri. As of September 30, 2025, we had total balance sheet assets of $19.2 billion and wealth assets under advice of $15.4 billion. Through our full-service community banking subsidiary, The Central Trust Bank (the “Bank”), we provide a comprehensive suite of consumer, commercial and wealth management products and services to our communities, which are primarily located in Missouri, Kansas, Oklahoma and Colorado. As of September 30, 2025, we operate 156 full-service branch locations. Our consolidated weighted average deposit market share is approximately 24%. Our ability to take market share and our successful acquisition strategy has caused our weighted average market share to increase steadily over time, including an increase of approximately 3.4 percentage points since 2010. Our business model is designed to serve the holistic financial services needs of businesses, individuals, agencies and community organizations within our footprint. Our goal is simple: to provide legendary service to our customers and to be an integral part in the success of our customers and the communities we serve. Our success is driven by our long-term commitment to the markets we serve and our culture of customer service excellence. Our Company was founded in 1902 under the leadership of the great grandfather of our current Executive Chairman, S. Bryan Cook. Through successive generations of Cook family ownership, the Bank has thrived, and we have maintained consistent profitability despite the intervening 23 U.S. economic recessions(1). During the Great Depression, we made a loan to the State of Missouri to assist it with making payroll and paying other expenses. From 2008 to 2012, while in the depths of the Great Recession, we earned an annual return on average assets (“ROAA”) of at least 1.00%. For the year ended December 31, 2024, we were the 5th most profitable bank by ROAA relative to our peers. (1) Number of recessions per National Bureau of Economic Research. A recession is defined as a significant decline in economic activity that is spread across the economy and that lasts more than a few months. — We believe the continuity of our ownership over our 123-year history of operating has fostered an enduring culture that has consistently proven successful in the marketplace and will position us well for future growth. This culture has allowed us to attract and retain great talent. Our employees are experienced (average 8-year tenure as of September 30, 2025), engaged (81% completed our most recent survey) and committed (86% would recommend working at the bank and 88% would recommend our products, each based on our most recent survey). Combined with our investments in products, services and technologies, we believe our culture has appealed to our customers and enabled us to increase market share. The core tenets of our culture, which we seek to quantify and hold ourselves accountable to, require us to be: • Customer Centric: We focus on customer satisfaction and attracting and retaining customers for the long-term. Our latest Net Promoter Score (“NPS”) was 71, based on our most recent customer survey, which we believe is as much as two times the average for U.S. retail banks. We have been able to grow the number of households we serve by an average of 3% per year since 2016, and believe we have the ability to continue to do so at a greater rate than our peers. Additionally, our deposit customers had an average tenure of 13 years as of September 30, 2025, and we were named Newsweek’s Best Customer Service Bank in 2023 (the only year this ranking was published). • Community Aligned: We emphasize giving back to the communities we serve. We track our community services hours, which totaled over 20,000 in 2024, or approximately 7 hours per employee. • Committed to the Long Term: As we have grown, our capital ratios and balance sheet liquidity metrics have remained amongst the strongest of our peers’ as of September 30, 2025. We continuously reinvest in our business and are currently undertaking a banking core modernization project that is intended to provide us with real-time, API-based capabilities. As a testament to our success, we were ranked the #10 Best Bank by Forbes in 2025 and are one of only two banks to have been in the Top 50 in every year since Forbes began its rankings in 2009. • Collaborative to Succeed: We maintain a community banking model led by experienced leaders in each of our markets that are empowered to make local decisions, which requires accountability and collaboration with our senior leaders and business line managers. Our collaborative contract is embodied in the “Central Code,” which we renew periodically. — Our Business Our vision is to become the leading financial services provider in each community we serve. To accomplish this vision, we strive to offer service levels better than other community banks and products, services and technologies consistent with the largest banks in the industry. We capture this ambition in our slogan, “Strong Roots, Endless Possibilities,” and manage our Company around these dual objectives. The “Strong Roots” portion of our slogan is representative of our 11 “Primary Markets” and the 79 communities that we serve, as well as the executives that lead them, many of whom are long term residents of the communities in which they are employed. The following table lists our “Primary Markets”: Primary Market Definition Jefferson City Jefferson City, MO MSA Kansas City Kansas City, MO-KS MSA; Lawrence, KS MSA Columbia Columbia, MO MSA; Mexico, MO MSA; Moberly, MO MSA St. Louis St. Louis, MO-IL MSA Springfield Springfield, MO MSA Lake of the Ozarks Camden County, MO; Miller County, MO; Morgan County MO Branson Branson, MO MSA; Stone County, MO Sedalia Sedalia, MO MSA Warrensburg Warrensburg, MO MSA Oklahoma Tulsa, OK MSA; Oklahoma City, OK MSA Colorado Denver-Aurora-Centennial, CO MSA; Colorado Springs, CO MSA; Durango, CO MSA Note: MSAs as defined by the United States Office of Management and Budget (OMB). Primary Markets do not include the Naples-Marco Island, FL MSA (our “Naples Market”), where the Company operates one full-service branch. We are well recognized within our markets for our relationship-based banking model that provides for local, efficient decision-making. Our experienced leaders are fully responsible for providing “legendary” customer service, growing their markets and hiring the necessary talent to achieve those goals. These leaders are empowered to make key local decisions, driving changes they believe are necessary to ensure success in their communities in collaboration with our senior leaders, but in exchange they are held accountable for performance. We believe each of our designated markets is attractive and high performing from a financial and franchise perspective. Deposit Total Total YTD2025 Market Deposits Loans ROAA Deposit Share / (as of (as of (as of Market Rank Employee Dollars in millions 9/30/25) 9/30/25) 9/30/25)((3) 2024 ROAA Share (Retail)(4) NPS(5) Satisfaction(6) Missouri Markets: Jefferson City $ 3,175 $ 1,459 2.22% 1.93% 54% 39% / 1 73 89% Kansas City 3,063 2,088 2.09% 1.95% 3% 5% / 6 69 81% Columbia 2,508 1,609 2.35% 2.08% 36% 26% / 1 72 86% St. Louis 1,811 1,870 1.43 / 1.82%(7) 1.85% 2% 2% / 12 74 91% Springfield 1,558 1,318 2.21% 2.06% 9% 10% / 1 67 87% Lake of the Ozarks 971 596 2.36% 2.10% 24% 33% / 1 75 85% Branson 415 303 2.31% 2.01% 19% 18% / 1 65 78% Sedalia 403 259 2.31% 2.01% 39% 38% / 1 69 91% Warrensburg 340 195 1.85% 1.96% 27% 27% / 2 65 94% Other Primary Markets: Oklahoma 360 843 1.73% 1.67% 0% 0% / 36 68 81% Colorado 168 636 0.69% 0.45% 0% 0% / 49 79 90% Consolidated(1)(2) $ 14,789 $ 11,345 1.97% 1.63% 24% 18% 71 86% Source: Central Bancompany and S&P Global Market Intelligence Notes: (1) Consolidated deposit market share represents the weighted average value of our deposit market share across each of our Primary Markets and our Naples Market, weighted by the volume of our deposits in those markets. All market share data is sourced from S&P Global Market Intelligence as of June 30, 2025 (most recent publicly available information) and is estimated to give effect to completed transactions through September 23, 2025. Deposit market share figures for each of our Primary Markets that include multiple MSAs or counties represent blended figures for all MSAs or counties included in the definition of each such Primary Market. (2) Discrepancies between consolidated deposits and loans and the sum of the 11 Primary Market areas due to deposits and loans in our non-Primary Markets. (3) ROAA for the first nine months of 2025 is presented on an annualized basis. (4) Represents estimated retail deposit market share based on an illustrative $250 million per branch deposit cap (excluding from the market any deposits at a single branch in excess of $250 million). (5) NPS figures are based on most recent annual customer survey and weighted by number of responses for Consumer, Commercial and Wealth lines of business (in the case of Commercial, figure is based on responses from customers who consider the Bank to be their primary financial services provider). (6) Employee satisfaction figures represent share of employees who would recommend working at the bank based on most recent annual employee survey. (7) Represents adjusted ROAA, reflecting an adjustment for net loss on the expected sale of the consumer lease portfolio, the effects of which are concentrated in our St. Louis market. To serve these communities well, we aim to deliver “Endless Possibilities,” including best-in-class products, services and technologies delivered through our consumer, commercial and wealth management business lines and supported by our technology division to drive customer satisfaction and focus on innovation. Our in-house technology division and innovation teams, together employing approximately 65 programmers and designers, support these business lines and their customer experience objectives. These collective investments have positioned us well, with an average mobile app rating of 4.9/5 on iOS with approximately 52,000 customer ratings (as of October 30, 2025), as a result of more than 300 mobile functionalities (similar to those offered by the largest banks in the U.S., including at least 98% of the features offered by large money center banks, according to FinTech Insights). Our principal executive office is located in Jefferson City, MO.