8-K

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: July 28, 2022

Professional Holding Corp.

(Exact name of registrant as specified in its charter)

Florida	001-39215	46-5144312
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer  Identification No.)
396 Alhambra Circle, Suite 255 Coral Gables, Florida,		33134
(Address of principal executive offices)		(Zip Code)

(786) 483-1757

(Registrant's telephone number, including area code)

Not applicable.

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

SECURITIES REGISTERED PURSUANT TO SECTION 12(b) OF THE ACT:

Title of Class	Trading Symbol(s)	Name of Exchange on which registered
Class A Common Stock, par value $0.01 per share	PFHD	NASDAQ Stock Market, LLC

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))

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 x

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

Item 2.02    Results of Operations and Financial Condition

On July 28, 2022, Professional Holding Corp. (the “Company”), the parent company of Professional Bank, issued a press release containing information on earnings results for the quarter ended June 30, 2022. A copy of the press release is furnished with this report as Exhibit 99.1 and incorporated herein by reference.

Item 7.01    Regulation FD Disclosure

A slide presentation (available on the Company’s website at https://proholdco.com) containing supplemental information regarding earnings results for the quarter ended June 30, 2022, is being furnished in accordance with Regulation FD of the Securities and Exchange Commission. A copy of the slide presentation is included as Exhibit 99.2 to this report.

Item 9.01    Financial Statements and Exhibits

(d) Exhibits

Exhibit 99.1 and Exhibit 99.2 are furnished pursuant to Items 2.02 and 7.01 and are not to be considered “filed” under the Securities Exchange Act of 1934, as amended (“Exchange Act”), and shall not be incorporated by reference into any of the Company’s previous or future filings under the Securities Act of 1933, as amended, or the Exchange Act, except as otherwise expressly stated in any such future filing.

Exhibit No.	Description
99.1	Press Release dated July 28, 2022, with respect to Professional Holding Corp.’s earnings results for the quarter ended June 30, 2022
99.2	Slide presentation containing supplemental information regarding earnings results for the quarter ended June 30, 2022
104	Cover Page Interactive Data File (embedded within the Inline XBRL document)

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.

	Professional Holding Corp.
Date: July 28, 2022	By:	/s/ Michael C. Sontag
		Michael C. Sontag
		Corporate Secretary

EX-99.1

Exhibit 99.1

Professional Holding Corp. Reports Second Quarter 2022 Results

Record Quarter for Net Income and Loan Production Results in Earnings per Share of $0.52

Coral Gables, Fla., July 28, 2022 – Professional Holding Corp. (the “Company”) (NASDAQ:PFHD), the parent company of Professional Bank (the “Bank”), today reported net income of $7.0 million, or $0.52 per share, for the second quarter of 2022 compared to net income of $2.4 million, or $0.18 per share, for the first quarter of 2022, and net income of $6.3 million, or $0.47 per share, for the second quarter of 2021.

“We are extremely proud of our record setting quarter of loan production and net income. Our team continues to deliver high quality results and we look forward to building on this momentum in the future,” said Abel Iglesias, Chief Executive Officer.

Results of Operations for the Three Months Ended June 30, 2022

•Net income increased $4.6 million, or 189.1%, to $7.0 million compared to $2.4 million in the prior quarter, due to higher net interest income of $2.9 million, higher noninterest income of $0.5 million, and lower noninterest expense of $3.9 million, partially offset by higher provision expense of $1.4 million and higher income tax provision of $1.3 million.

•Net interest income increased $2.9 million, or 15.0%, to $21.9 million compared to $19.0 million in the prior quarter, primarily as a result of the Federal Reserve’s target Federal Funds Rate increases during the second quarter as the Company maintains an asset sensitive balance sheet. The Company’s yield on average interest earning assets increased 45 basis points while cost of funds decreased four basis points compared to the prior quarter. Net interest income also benefited from average loan growth of $79.2 million to $1.9 billion compared to $1.8 billion in the prior quarter.

•Provision for loan losses expense increased $1.4 million, or 163.2%, to $2.2 million compared to $0.9 million in the prior quarter primarily due to loan growth during the second quarter. The ratio of annualized charge-offs to average loans was 0.14% during the three months ended June 30, 2022, compared to 0% in the prior quarter.

•Noninterest income increased $0.5 million, or 39.9% to $1.8 million compared to $1.3 million in the prior quarter. The increase was comprised of higher income from bank-owned life insurance primarily due to purchases of approximately $15.0 million during the quarter and $0.5 million of expected insurance proceeds on a previously recognized contingency, partially offset by a decrease in swap fee income of $0.1 million due to a lower volume of swap transactions.

•Noninterest expense decreased $3.9 million, or 23.6%, to $12.6 million compared to $16.5 million in the prior quarter, primarily due to lower salaries and employee benefits of $3.7 million. The decrease in salaries and employee benefits reflects the first quarter expense of $2.9 million related to the departure of the Company’s former Chief Executive Officer. In addition, in the second quarter the Company began capitalizing certain qualified costs in connection with the development of internal-use software, including $0.4 million related to salary expense, and increased capitalization of deferred salaries cost of $0.4 million as a result of the current quarter record loan production.

Results of Operations for the Six Months Ended June 30, 2022

•Net income decreased $1.7 million, or 15.3%, to $9.4 million compared to $11.1 million in the prior year, due to increased noninterest expense driven by the expenses associated with the departure of the Company’s former Chief Executive Officer and higher provision expense, partially offset by higher net interest income.

•Net interest income increased $5.9 million, or 16.7%, to $41.0 million compared to $35.1 million in the prior year, primarily as a result of the Federal Reserve’s target Federal Funds Rate increases in 2022 as the Company maintains an asset sensitive balance sheet, in addition to an increase in average loans from $1.7 billion in 2021 to $1.8 billion in 2022. Interest income also benefited from increased average balances and higher yields in the investment portfolio.

•Provision for loan losses increased $1.3 million, or 71.7%, to $3.1 million compared to $1.8 million in the prior year primarily due to loan growth. The ratio of annualized charge-offs to average loans was 0.07% during the six months ended June 30, 2022, compared to 1.80% in the prior year.

•Noninterest income decreased $0.4 million, or 10.7% to $3.1 million compared to the prior year. The decrease primarily reflected lower service charges of $0.5 million on deposit accounts compared to prior year due to service charges of approximately $0.7 million, associated with acting as a correspondent bank for a Payroll Protection Program lender. Swap fee income and loans held for sale income also decreased $0.5 million and $0.2 million, respectively in 2022 compared to 2021 due to lower volume in both noninterest income categories. These decreases were partially offset by an increase of $0.8 million in other noninterest income, comprised of $0.5 million of expected insurance proceeds on a previously recognized contingency and a $0.2 million loss on fixed asset disposals recorded in 2021.

•Noninterest expense increased $6.4 million, or 28.0%, to $29.1 million compared to $22.7 million in the prior year primarily due to higher salaries and employee benefits of $4.8 million and higher other noninterest expense of $1.5 million, partially offset by prior year acquisition costs of $0.7 million. The increase in salaries and benefits was driven by the $2.9 million expense related to the departure of the Company’s former Chief Executive Officer, and higher employee compensation costs from higher headcount and bonus and sales incentives paid out during the 2022 period. The increase in other noninterest expense was primarily comprised of a $0.7 million loss related to a previously recognized contingency from the first quarter, and a $0.3 million increase related to our Community Reinvestment Act (“CRA”) mutual fund investment valuation.

Financial Condition

At June 30, 2022:

•Total assets decreased $0.2 billion, or 28.8%, annualized to $2.7 billion, compared to March 31, 2022, primarily as a result of decreases in cash and cash equivalents, partially offset by an increase in loans.

•Total loans increased $164.5 million, or 36.2%, annualized to $2.0 billion, compared to $1.8 billion at March 31, 2022. The increase was driven by loan originations of approximately $315.8 million, partially offset by paydowns and prepayments of $85.8 million. The Professional Bank PPP loan balance decreased $22.9 million, or 73.7%, to $8.2 million from March 31, 2022.

•Total deposits decreased $0.2 billion, or 31.9% annualized, compared to March 31, 2022, with decreases in interest bearing and noninterest bearing accounts. Cost of deposits decreased two basis points to 0.24% for the three months ended June 30, 2022, from 0.26% for the three months ended March 31, 2022.

•As of June 30, 2022, nonperforming assets decreased $0.7 million to $1.5 million compared to $2.1 million at March 31, 2022, due to a charge-off of a nonperforming consumer loan of $0.7 million during the three months ended June 30, 2022. There were no net charge-offs in the prior quarter.

Capital and Liquidity

The Company continues to remain well capitalized per regulatory requirements. As of June 30, 2022, the Company had a total risk-based capital ratio of 12.8% and a leverage capital ratio of 8.1%. The Company maintains a strong liquidity position. At June 30, 2022, in addition to its balance sheet liquidity, the Company had the ability to generate approximately $488.1 million in liquidity through available resources. Additionally, the Company retained $10.5 million in cash at the holding company.

Net Interest Income and Net Interest Margin Analysis

Net interest income was $21.9 million for the three months ended June 30, 2022. The following table shows the average outstanding balance of each principal category of the Company’s assets, liabilities, and shareholders’ equity, together with the average yields on assets and the average costs of liabilities for the periods indicated. Such yields and costs are calculated by dividing the annualized income or expense by the average daily balances of the corresponding assets or liabilities for the respective periods. For the three months ended June 30, 2022, the Company’s cost of funds was 0.28%.

(Dollars in thousands)	For the Three Months Ended
	June 30, 2022						March 31, 2022						June 30, 2021
	Average Outstanding Balance		Interest Income/ Expense(4)		Average Yield/Rate		Average Outstanding Balance		Interest Income/ Expense(4)		Average Yield/Rate		Average Outstanding Balance		Interest Income/ Expense(4)		Average Yield/Rate
Assets
Interest earning assets
Interest-earning deposits	$	474,835	$	963	0.81	%	$	576,478	$	276	0.19	%	$	580,632	$	178	0.12	%
Federal funds sold	31,584		66		0.84	%	28,234		18		0.26	%	69,506		24		0.14	%
Federal Reserve Bank stock, FHLB stock and other corporate stock	7,318		105		5.76	%	7,598		97		5.18	%	7,391		99		5.37	%
Investment securities - taxable	177,082		704		1.59	%	187,273		638		1.38	%	70,137		161		0.92	%
Investment securities - tax exempt	28,422		232		3.27	%	25,902		213		3.34	%	20,172		189		3.76	%
Loans(1)	1,853,077		21,600		4.68	%	1,773,887		19,780		4.52	%	1,699,403		18,311		4.32	%
Total interest earning assets	2,572,318		23,670		3.69	%	2,599,372		21,022		3.28	%	2,447,241		18,962		3.11	%
Loans held for sale	639						693						2,638
Noninterest earning assets	152,134						136,270						115,358
Total assets	$	2,725,091					$	2,736,335					$	2,565,237
Liabilities and stockholders’ equity
Interest-bearing liabilities
Interest-bearing deposits	1,663,120		1,491		0.36	%	1,672,387		1,586		0.38	%	1,377,712		1,430		0.42	%
Borrowed funds	25,735		270		4.21	%	50,493		389		3.12	%	56,347		330		2.35	%
Total interest-bearing liabilities	1,688,855		1,761		0.42	%	1,722,880		1,975		0.46	%	1,434,059		1,760		0.49	%
Noninterest-bearing liabilities
Noninterest-bearing deposits	784,252						764,763						890,292
Other noninterest-bearing liabilities	21,098						16,666						17,690
Stockholders’ equity	230,886						232,026						223,196
Total liabilities and stockholders’ equity	$	2,725,091					$	2,736,335					$	2,565,237
Net interest income			$	21,909					$	19,047					$	17,202
Net interest spread(2)					3.27	%					2.82	%					2.62	%
Net interest margin(3)					3.42	%					2.97	%					2.82	%

_________________________________________

(1)Includes nonaccrual loans.

(2)Net interest spread is the difference between interest earned on interest earning assets and interest paid on interest bearing liabilities.

(3)Net interest margin is a ratio of net interest income to average interest earning assets for the same period.

(4)Interest income on loans includes loan fees of $1.4 million, $1.6 million and $1.6 million for the three months ended June 30, 2022, March 31, 2022 and June 30, 2021, respectively.

Net interest income was $41.0 million and the Company’s cost of funds was 0.30% for the six months ended June 30, 2022.

	For the Six Months Ended
	June 30, 2022						June 30, 2021
(Dollars in thousands)	Average Outstanding Balance		Interest Income/ Expense(4)		Average Yield/Rate		Average Outstanding Balance		Interest Income/ Expense(4)		Average Yield/Rate
Assets
Interest earning assets
Interest earning deposits	$	525,376	$	1,238	0.48	%	$	380,989	$	224	0.12	%
Federal funds sold	29,918		85		0.57	%	56,955		40		0.14	%
Federal Reserve Bank stock, FHLB stock and other corporate stock	7,457		202		5.46	%	7,676		194		5.10	%
Investment securities - taxable	182,150		1,342		1.49	%	69,968		340		0.98	%
Investment securities - tax-exempt	27,169		445		3.30	%	20,902		392		3.78	%
Loans (1)	1,813,701		41,380		4.60	%	1,681,566		37,544		4.50	%
Total interest earning assets	2,585,771		44,692		3.49	%	2,218,056		38,734		3.52	%
Loans held for sale	666						1,999
Noninterest earning assets	144,246						122,420
Total assets	$	2,730,683					$	2,342,475
Liabilities and shareholders’ equity
Interest-bearing liabilities
Interest-bearing deposits	1,667,728		3,077		0.37	%	1,293,693		2,747		0.43	%
Borrowed funds	38,046		659		3.49	%	101,129		906		1.81	%
Total interest-bearing liabilities	1,705,774		3,736		0.44	%	1,394,822		3,653		0.53	%
Noninterest-bearing liabilities
Noninterest-bearing deposits	774,562						708,215
Other noninterest-bearing liabilities	18,894						18,288
Shareholders’ equity	231,453						221,150
Total liabilities and shareholders’ equity	$	2,730,683					$	2,342,475
Net interest income			$	40,956					$	35,081
Net interest spread (2)					3.05	%					2.99	%
Net interest margin (3)					3.19	%					3.19	%

__________________________________

(1)Includes nonaccrual loans.

(2)Net interest spread is the difference between interest earned on interest earning assets and interest paid on interest bearing liabilities.

(3)Net interest margin is a ratio of net interest income to average interest earning assets for the same period.

(4)Interest income on loans includes loan fees of $3.0 million and $4.4 million for the six months ended June 30, 2022, and 2021, respectively.

Provision for Loan Losses

Provision for loan losses increased $1.4 million, or 163.2%, to $2.2 million compared to $0.9 million in the prior quarter primarily due to loan growth during the quarter.

Investment Securities

The Company’s investment portfolio decreased $14.5 million, or 6.8%, to $198.4 million compared to the prior quarter. The decrease was primarily due to $10.6 million in investment calls, redemptions and paydowns coupled with an increase in unrealized losses of $5.8 million during the quarter, partially offset by purchases of approximately $2.1 million of municipal bonds. To supplement interest income earned on the Company’s loan portfolio, the Company invests in high quality mortgage-backed securities, government agency bonds, corporate bonds, community development district bonds, and equity securities (including mutual funds). Equity securities include $0.9 million of investments, made through our subsidiary Pro Opp Fund LLC, in businesses directly and indirectly related to the Company’s core business as permitted under the U.S. Bank Holding Company Act. Pro Opp Fund LLC has an additional $0.8 million of unfunded investments outstanding.

Loan Portfolio

The Company’s primary source of income is derived from interest earned on loans. The Company’s loan portfolio consists of loans secured by real estate, as well as commercial business loans, construction and development loans, and other consumer loans. The Company’s loan clients primarily consist of small-to medium-sized businesses, the owners and operators of those businesses, and other professionals, entrepreneurs and high net worth individuals. The Company’s owner-occupied and investment commercial real estate loans, residential construction loans, and commercial business loans provide higher risk-adjusted returns, shorter maturities, and more sensitivity to interest rate fluctuations and are complemented by the relatively lower risk residential real estate loans to individuals. The Company’s lending activities are principally directed to the Miami-Dade MSA. The following table summarizes and provides additional information about certain segments of the Company’s loan portfolio as of June 30, 2022, March 31, 2022, and December 31, 2021:

(Dollars in thousands)	June 30, 2022			March 31, 2022			December 31, 2021
	Amount		Percent	Amount		Percent	Amount		Percent
Loans held for investment:
Commercial real estate	$	1,034,487	52.1%	$	931,904	51.1%	$	902,654	50.8%
Residential real estate	422,239		21.2%	381,182		20.9%	377,511		21.2%
Commercial (non-PPP) (1)	387,317		19.5%	357,124		19.6%	325,415		18.3%
Commercial (PPP)	8,176		0.4%	31,097		1.7%	58,615		3.3%
Construction and land development	114,938		5.8%	98,984		5.4%	91,520		5.1%
Consumer and other	20,076		1.0%	22,425		1.2%	21,449		1.2%
Total loans held for investment, gross	1,987,233		100.0%	1,822,716		100.0%	1,777,164		100.0%
Allowance for loan losses	(15,142)			(13,555)			(12,704)
Loans held for investment, net	$	1,972,091		$	1,809,161		$	1,764,460
Loans held for sale:
Loans held for sale	$	—	—%	$	988	100.0%	$	165	100.0%
Total loans held for sale	$	—		$	988		$	165

_________________________________________

(1)Includes search fund lending of $102.1 million, $91.4 million, and $84.0 million for June 30, 2022, March 31, 2022, and December 31, 2021, respectively.

Nonperforming Assets

As of June 30, 2022, the Company had nonperforming assets of $1.5 million, or 0.06% of total assets, compared to nonperforming assets of $2.1 million, or 0.07% of total assets, at March 31, 2022. The decrease was due to the charge-off of a $0.7 million impaired loan in the consumer loan category.

Allowance for Loan and Lease Loss (“ALLL”)

The Company’s allowance for loan losses increased $1.6 million, or 11.7%, to $15.1 million at June 30, 2022, compared to March 31, 2022, primarily as a result of higher loan production volume during the second quarter as well as a $0.7 million charge-off of a previously disclosed impaired loan. The Company’s allowance for loan losses as a percentage of total loans held for investment (excluding Professional Bank PPP loans - non-GAAP, see Explanation of Certain Unaudited Non-GAAP Financial Measures) was 0.77% at June 30, 2022, compared to 0.76% at March 31, 2022. There were minimal changes to qualitative loss factors to address rising inflation and threats of a recessionary environment and minimal change in the historical loss factors for the current period with the principal driver for the increased allowance being loan growth.

PROFESSIONAL HOLDING CORP.

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)

(Dollar amounts in thousands, except share data)

	June 30, 2022		March 31, 2022		December 31, 2021
ASSETS
Cash and due from banks	$	41,202	$	45,792	$	38,469
Interest earning deposits	299,834		671,845		545,521
Federal funds sold	27,043		24,089		13,477
Cash and cash equivalents	368,079		741,726		597,467
Securities available for sale, at fair value - taxable	164,354		175,758		175,536
Securities available for sale, at fair value - tax exempt	27,453		30,446		18,765
Securities held to maturity (fair value June 30, 2022 – $197, March 31, 2022 – $214, December 31, 2021 – $242)	204		218		236
Equity securities	6,359		6,439		6,638
Loans, net of allowance of $15,142, $13,555, and $12,704 as of June 30, 2022, March 31, 2022, and December 31, 2021, respectively	1,972,091		1,809,161		1,764,460
Loans held for sale	—		988		165
Premises and equipment, net	8,570		8,499		9,020
Bank owned life insurance	54,134		38,758		38,485
Goodwill and intangibles	25,639		25,698		25,766
Other assets	34,631		29,534		27,573
Total assets	$	2,661,514	$	2,867,225	$	2,664,111
LIABILITIES AND STOCKHOLDERS’ EQUITY
Deposits
Demand – noninterest bearing	$	777,501	$	871,357	$	674,003
Demand – interest bearing	339,942		356,600		310,362
Money market and savings	1,055,813		1,103,472		1,121,330
Time deposits	208,479		255,848		265,693
Total deposits	2,381,735		2,587,277		2,371,388
Federal Home Loan Bank advances	—		5,000		35,000
Official Checks	5,815		6,144		4,125
Other borrowings	—		—		10,000
Subordinated debt	24,436		24,409		—
Accrued interest and other liabilities	15,930		14,622		12,074
Total liabilities	2,427,916		2,637,452		2,432,587
Stockholders’ equity
Preferred stock, 10,000,000 shares authorized, none issued	—		—		—
Class A Voting Common stock, $0.01 par value; authorized 50,000,000 shares. Issued 14,699,975 and outstanding 13,742,381 shares as of June 30, 2022, issued 14,623,395 and outstanding 13,665,801 shares at March 31, 2022, issued 14,393,750 and outstanding 13,446,400 shares at December 31, 2021	147		146		144
Class B Non-Voting Common stock, $0.01 par value; 10,000,000 shares authorized, none issued and outstanding on June 30, 2022, March 31, 2022, and December 31, 2021	—		—		—
Treasury stock, at cost	(16,201)		(16,201)		(16,003)
Additional paid in capital	215,541		214,351		212,012
Retained earnings	45,533		38,539		36,120
Accumulated other comprehensive income (loss)	(11,422)		(7,062)		(749)
Total stockholders’ equity	233,598		229,773		231,524
Total liabilities and stockholders' equity	$	2,661,514	$	2,867,225	$	2,664,111

PROFESSIONAL HOLDING CORP.

CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (Unaudited)

(Dollar amounts in thousands, except share data)

	Three Months Ended						Six Months Ended
	June 30, 2022		March 31, 2022		June 30, 2021		June 30, 2022		June 30, 2021
Interest income
Loans, including fees	$	21,600	$	19,780	$	18,311	$	41,380	$	37,544
Investment securities - taxable	704		638		161		1,342		340
Investment securities - tax-exempt	232		213		189		445		392
Dividend income on restricted stock	105		97		99		202		194
Other	1,029		294		202		1,323		264
Total interest income	23,670		21,022		18,962		44,692		38,734
Interest expense
Deposits	1,491		1,586		1,430		3,077		2,747
Federal Home Loan Bank advances	3		134		190		137		386
Subordinated debt	266		232		77		498		207
Other borrowings	1		23		63		24		313
Total interest expense	1,761		1,975		1,760		3,736		3,653
Net interest income	21,909		19,047		17,202		40,956		35,081
Provision for loan losses	2,240		851		762		3,091		1,800
Net interest income after provision for loan losses	19,669		18,196		16,440		37,865		33,281
Noninterest income
Service charges on deposit accounts	577		517		1,199		1,094		1,594
Income from bank owned life insurance	376		273		281		649		563
SBA origination fees	48		—		—		48		145
Swap fee income	—		112		364		112		573
Loans held for sale income	45		71		226		116		301
Gain on sale and call of securities	13		—		21		13		22
Other	722		300		211		1,022		223
Total noninterest income	1,781		1,273		2,302		3,054		3,421
Noninterest expense
Salaries and employee benefits	7,473		11,220		7,099		18,693		13,883
Occupancy and equipment	1,010		1,002		905		2,012		2,007
Data processing	304		314		276		618		566
Marketing	125		196		165		321		318
Professional fees	886		919		770		1,805		1,398
Acquisition expenses	—		—		—		—		684
Regulatory assessments	473		549		418		1,022		767
Other	2,333		2,295		1,321		4,628		3,119
Total noninterest expense	12,604		16,495		10,954		29,099		22,742
Income before income taxes	8,846		2,974		7,788		11,820		13,960
Income tax provision	1,852		555		1,457		2,407		2,844
Net income	$	6,994	$	2,419	$	6,331	$	9,413	$	11,116
Earnings per share:
Basic	$	0.52	$	0.18	$	0.47	$	0.70	$	0.83
Diluted	$	0.50	$	0.17	$	0.45	$	0.67	$	0.80
Other comprehensive income:
Unrealized holding gain (loss) on securities available for sale	$	(5,841)	$	(8,468)	$	(505)	$	(14,308)	$	(794)
Tax effect	1,487		2,155		124		3,635		195
Other comprehensive gain (loss), net of tax	(4,360)		(6,313)		(381)		(10,673)		(599)
Comprehensive income (loss)	$	2,634	$	(3,894)	$	5,950	$	(1,260)	$	10,517

PROFESSIONAL HOLDING CORP.

EARNINGS PER COMMON SHARE (Unaudited)

(Dollar amounts in thousands, except share data)

Basic earnings per common share is computed by dividing net income available to common shareholders by the weighted average number of shares of common stock outstanding during the year. Diluted earnings per common share is computed by dividing net income available to common shareholders by the weighted average number of shares of common stock outstanding plus the effect of employee stock awards during the year.

	Three Months Ended						Six Months Ended
	June 30, 2022		March 31, 2022		June 30, 2021		June 30, 2022		June 30, 2021
Basic earnings per share:
Net income	$	6,994	$	2,419	$	6,331	$	9,413	$	11,116
Total weighted average common stock outstanding	13,446,335		13,345,565		13,397,747		13,396,240		13,419,929
Net income per share	$	0.52	$	0.18	$	0.47	$	0.70	$	0.83
Diluted earnings per share:
Net income	$	6,994	$	2,419	$	6,331	$	9,413	$	11,116
Total weighted average common stock outstanding	13,446,335		13,345,565		13,397,747		13,396,240		13,419,929
Add: dilutive effect of employee restricted stock and options	628,550		613,807		564,822		614,006		521,900
Total weighted average diluted stock outstanding	14,074,885		13,959,372		13,962,569		14,010,246		13,941,829
Net income per share	$	0.50	$	0.17	$	0.45	$	0.67	$	0.80
Anti-dilutive restricted stock and options	29,250		36,422		270,850		65,672		270,850

Explanation of Certain Unaudited Non-GAAP Financial Measures

This press release contains financial information determined by methods other than U.S. Generally Accepted Accounting Principles (“GAAP”), which we refer to as “non-GAAP financial measures.” The table below provides a reconciliation between these non-GAAP measures and net income and net income per share, which are the most comparable GAAP measures.

Management uses these non-GAAP financial measures in its analysis of the Company’s performance and believes these measures are useful supplemental information that can enhance investors’ understanding of the Company’s business and performance without considering taxes or provisions for loan losses and can be useful when comparing performance with other financial institutions. However, these non-GAAP financial measures should not be considered in isolation or as a substitute for the comparable GAAP measures.

Reconciliation of non-GAAP Financial Measures

(Dollar amounts in thousands, except per share data)	Three Months Ended									Six Months Ended
	June 30, 2022			March 31, 2022			June 30, 2021			June 30, 2022			June 30, 2021
Net interest income (GAAP)	$	21,909		$	19,047		$	17,202		$	40,956		$	35,081
Total noninterest income	1,781			1,273			2,302			3,054			3,421
Total noninterest expense	12,604			16,495			10,954			29,099			22,742
Pre-tax pre-provision earnings (non-GAAP)	$	11,086		$	3,825		$	8,550		$	14,911		$	15,760
Total adjustments to noninterest expense (1)	—			(2,915)			—			(2,915)			(684)
Adjusted pre-tax pre-provision earnings (non-GAAP)	$	11,086		$	6,740		$	8,550		$	17,826		$	16,444
Return on average assets (GAAP)	1.03		%	0.36		%	0.99		%	0.70		%	0.96		%
Annualized pre-tax pre-provision ROAA (non-GAAP)	1.63		%	0.57		%	1.33		%	1.10		%	1.36		%
Adjusted annualized pre-tax pre-provision ROAA (non-GAAP)	1.63		%	1.00		%	1.33		%	1.32		%	1.42		%

(1)Adjustments to noninterest expense for the three months ended March 31, 2022 and the six months ended June 30, 2022 were related to severance and accelerated vesting expense related to the departure of the former Chief Executive Officer. Adjustments to noninterest expense for the six months ended June 30, 2021 were related to change in control payments to two former Marquis employees.

(Dollar amounts in thousands)	June 30, 2022			March 31, 2022			December 31, 2021
Total loans held for investment, net (GAAP)	$	1,972,091		$	1,809,161		$	1,764,460
Add allowance for loan loss ("ALLL")	15,142			13,555			12,704
Total gross loans held for investment ("LHFI")	1,987,233			1,822,716			1,777,164
Less Professional Bank net PPP loans ("PPP")	8,176			31,097			58,615
Total gross LHFI excluding net PPP loans (non-GAAP)	1,979,057			1,791,619			1,718,549
Add purchase accounting loan marks ("PA")	9,937			11,466			13,003
Total gross LHFI excluding net PPP loans (non-GAAP) + PA marks	$	1,988,994		$	1,803,085		$	1,731,552
ALLL as a % of LHFI (GAAP)	0.76		%	0.74		%	0.71		%
ALLL as a % of total LHFI excluding net PPP loans (non-GAAP)	0.77		%	0.76		%	0.74		%
PA marks + ALLL / LHFI excluding net PPP loans (non-GAAP)	1.26		%	1.39		%	1.48		%

(Dollar amounts in thousands)	Three Months Ended						Six Months Ended
	June 30, 2022		March 31, 2022		June 30, 2021		June 30, 2022		June 30, 2021
Net interest income (GAAP)	$21,909		$19,047		$17,202		$40,956		$35,081
Less: PPP net interest income recognized	(818)		(1,059)		(1,844)		(1,877)		(4,897)
Net interest income excluding PPP (non-GAAP)	21,091		17,988		15,358		39,079		30,184
Less: PA premium/discounts	(1,648)		(1,661)		(1,192)		(3,309)		(2,460)
Net interest income excluding PPP and PA (non-GAAP)	$19,443		$16,327		$14,166		$35,770		$27,724
Average interest earning assets (GAAP)	2,572,318		2,599,372		2,447,242		2,585,771		2,218,056
Less: average PPP loans	(19,727)		(44,585)		(186,912)		(32,088)		(188,802)
Average interest earning assets, excluding PPP (non-GAAP)	2,552,591		2,554,787		2,260,330		2,553,683		2,029,254
Add: average PA marks	10,436		12,314		16,649		11,370		18,459
Average interest earning assets, excluding PPP and PA (non-GAAP)	$2,563,027		$2,567,101		$2,276,979		$2,565,053		$2,047,713
Net interest margin (GAAP)	3.42	%	2.97	%	2.82	%	3.19	%	3.19	%
Net interest margin excluding PPP (non-GAAP)	3.31	%	2.86	%	2.73	%	3.09	%	3.00	%
Net interest margin excluding PPP and PA (non-GAAP)	3.04	%	2.58	%	2.50	%	2.81	%	2.73	%

Certain Performance Metrics

The following table shows the return on average assets (computed as annualized net income divided by average total assets), return on average equity (computed as annualized net income divided by average equity) and average equity to average assets ratios for the periods presented below.

	Three Months Ended June 30, 2022		Three Months Ended March 31, 2022		Three Months Ended June 30, 2021		Six Months Ended June 30, 2022		Six Months Ended June 30, 2021
Return on average assets	1.03	%	0.36	%	0.99	%	0.70	%	0.96	%
Return on average equity	12.15	%	4.23	%	11.38	%	8.20	%	10.14	%
Average equity to average assets	8.47	%	8.48	%	8.70	%	8.48	%	9.44	%

Additional Materials

A slide presentation with supplemental financial information relating to this release can be accessed at https://proholdco.com.

Forward Looking Statements

“This communication contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements contained in this presentation that are not statements of historical fact may be deemed to be forward-looking statements, including, without limitation, statements preceded by, followed by or including words such as “anticipate,” “intend,” “believe,” “estimate,” “plan,” “seek,” “project” or “expect,” “may,” “will,” “would,” “could” or “should” and similar expressions. Forward-looking statements represent the Company’s current expectations, plans or forecasts; involve assumptions, risks and uncertainties; and are not guarantees. Several important factors could cause actual results to differ materially from those in forward-looking statements. Those factors include, without limitation, current and future economic and market conditions, including those that could impact credit quality and the ability to generate loans and gather deposits; the duration, extent and impact of the COVID-19 pandemic, including government responses to the pandemic and the potential worsening of the pandemic resulting from variants of COVID-19, on our and our customers’ operations, personnel, and business activity (including developments and volatility), as well as COVID-19’s impact on the credit quality of our loan portfolio and financial markets and general economic conditions; the effects of our lack of a diversified loan portfolio and concentration in the South Florida market; the impact of current and future interest rates and expectations concerning the actual timing and amount of interest rate movements; competition; our ability to execute business plans; geopolitical developments; legislative and regulatory

developments; inflation or deflation; market fluctuations; natural disasters (including pandemics such as COVID-19); critical accounting estimates; and other factors described in our Annual Report on Form 10-K for the year ended December 31, 2021, and other filings with the Securities and Exchange Commission. Although we make such statements based on assumptions that we believe to be reasonable, there can be no assurance that actual results will not differ materially from those expressed in forward-looking statements. We caution investors not to rely unduly on any forward-looking statements and urge investors to carefully consider the risks described in our filings with the Securities and Exchange Commission, referred to above, which are available on www.proholdco.com and the SEC’s website at www.sec.gov. The Company expressly disclaims any obligation to update any of the forward-looking statements included herein to reflect future events or developments or changes in expectations, except as may be required by law.”

About Professional Bank and Professional Holding Corp.:

Professional Holding Corp. (NASDAQ:PFHD) is the financial holding company for Professional Bank, a Florida state-chartered bank established in 2008 and based in Coral Gables, Florida. Professional Bank focuses on providing creative, relationship-driven commercial banking products and services designed to meet the needs of small to medium-sized businesses, the owners and operators of these businesses, professionals and entrepreneurs. Professional Bank currently operates its Florida network through nine branch locations and two LPOs in the regional areas of Miami, Broward, Palm Beach, Duval (Jacksonville), Hillsborough and Pinellas (Tampa Bay) counties. It also has a Digital Innovation Center located in Cleveland, Ohio and a LPO in Bedford, New Hampshire that specializes in search fund lending. For more information, visit www.myprobank.com. Member FDIC. Equal Housing Lender.

EX-99.2

SECOND QUARTER 2022 NASDAQ:PFHD PRESENTATIONEARNINGS

SECOND QUARTER 2022 EARNINGS PRESENTATION PAGE 2 FORWARD LOOKING STATEMENTS “This communication contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements contained in this presentation that are not statements of historical fact may be deemed to be forward-looking statements, including, without limitation, statements preceded by, followed by or including words such as “anticipate,” “intend,” “believe,” “estimate,” “plan,” “seek,” “project” or “expect,” “may,” “will,” “would,” “could” or “should” and similar expressions. Forward-looking statements represent the Company’s current expectations, plans or forecasts; involve assumptions, risks and uncertainties; and are not guarantees. Several important factors could cause actual results to differ materially from those in forward-looking statements. Those factors include, without limitation, current and future economic and market conditions, including those that could impact credit quality and the ability to generate loans and gather deposits; the duration, extent and impact of the COVID-19 pandemic, including government responses to the pandemic and the potential worsening of the pandemic resulting from variants of COVID-19, on our and our customers’ operations, personnel, and business activity (including developments and volatility), as well as COVID-19’s impact on the credit quality of our loan portfolio and financial markets and general economic conditions; the effects of our lack of a diversified loan portfolio and concentration in the South Florida market; the impact of current and future interest rates and expectations concerning the actual timing and amount of interest rate movements; competition; our ability to execute business plans; geopolitical developments; legislative and regulatory developments; inflation or deflation; market fluctuations; natural disasters (including pandemics such as COVID-19); critical accounting estimates; and other factors described in our Annual Report on Form 10-K for the year ended December  31, 2021, and other filings with the Securities and Exchange Commission. Although we make such statements based on assumptions that we believe to be reasonable, there can be no assurance that actual results will not differ materially from those expressed in forward-looking statements. We caution investors not to rely unduly on any forward-looking statements and urge investors to carefully consider the risks described in our filings with the Securities and Exchange Commission, referred to above, which are available on www.proholdco.com and the SEC’s website at www.sec.gov. The Company expressly disclaims any obligation to update any of the forward-looking statements included herein to reflect future events or developments or changes in expectations, except as may be required by law.”

SECOND QUARTER 2022 EARNINGS PRESENTATION PAGE CLEVELAND DIGITAL INNOVATION CENTER CORAL GABLES (HEADQUARTERS) SOUTH MIAMI FORT LAUDERDALE BOCA RATON WELLINGTON DADELAND PALM BEACH GARDENS DORAL AVENTURA ST. PETERSBURG LPO JACKSONVILLE LPO 3 Professional Bank was founded in 2008 in Coral Gables, Florida to provide financial services to doctors, lawyers, architects and other professionals. Professional Holding Corp. was formed in 2014 and became a public company in 2020 and is listed on the NASDAQ under PFHD. Today we are the sixth largest bank headquartered in South Florida(1). Our franchise has grown by building a team of over 200 skilled, seasoned bankers and employees who focus on providing concierge service to our clients. We remain committed to lending and credit philosophies that center on maintaining disciplined underwriting and avoiding concentrations. We have nine full service branches throughout South Florida, and Loan Production Offices (LPOs) in St. Petersburg, Jacksonville, and New Hampshire. Our Digital Innovation Center in Cleveland, Ohio houses a team of experienced leaders who direct our investment in infrastructure, enhance service offerings, and improve efficiency. (1) Data is as of March 31, 2022 BEDFORD, NH SEARCH FUND LPO PROFESSIONAL AT A GLANCE SPOTLIGHT THIS QUARTER We have had a record-breaking quarter with our renewed focus on bottom-line profitability PAGE 17 Florida Ohio New England

SECOND QUARTER 2022 EARNINGS PRESENTATION PAGE 4 SECOND QUARTER 2022 HIGHLIGHTS Q2 Net Income $7.0 million YTD Net Income $9.4 million Tangible Book Value per Share $15.13 Earnings per Share $0.52 Return on Average Assets* 1.03% Return on Average Equity* 12.15% Efficiency Ratio 53.2% Total Risk-Based Capital Ratio 12.8% * Based on Q2 annualized figures

SECOND QUARTER 2022 EARNINGS PRESENTATION PAGE $8,550 $8,956 $6,513 $3,825 $11,086 $2,915 2Q 2021 3Q 2021 4Q 2021 1Q 2022 2Q 2022 $0.47 $0.48 $0.30 $0.18 $0.52 Earnings per share (GAAP) 0.99% 0.97% 0.58% 0.36% 1.03% Return on average annualized assets (GAAP) 1.33% 1.39% 0.95% 0.57% 1.63% Annualized pre-tax pre-provision ROAA (non-GAAP) 1.33% 1.39% 0.95% 1.00% 1.63% Adjusted annualized pre-tax pre-provision ROAA (non-GAAP) 5 NON-GAAP ADJUSTED EARNINGS Pre-tax Pre- provision Earnings (non-GAAP) ($ in thousands) Earnings per share increased $0.34, or 189% quarter-over-quarter and increased $0.05, or 11% year-over- year. The increase was due to higher net income driven by increased net interest income and reduced operating expenses. Tangible book value per share for the second quarter of 2022 was $15.13, an increase of $0.20, from prior quarter, due to higher net income, partially offset by downward market fluctuations in other comprehensive income. (1) Adjustments in 1Q 2022 were related to severance and accelerated vesting expense related to the departure of the former CEO. Please refer to the non-GAAP Reconciliation Table on page 18

SECOND QUARTER 2022 EARNINGS PRESENTATION PAGE $17,202 $19,104 $18,123 $19,047 $21,909 2.82% 3.12% 2.78% 2.97% 3.42% 2.73% 2.91% 2.66% 2.86% 3.31% 2.50% 2.55% 2.42% 2.58% 3.04% 2Q 2021 3Q 2021 4Q 2021 1Q 2022 2Q 2022 6 NET INTEREST INCOME AND MARGIN Net Interest Income ($ in thousands) Net Interest Income NIM Net interest income totaled $21.9 million for the second quarter of 2022, up $2.9 million, or 15.0% from the prior quarter primarily due to higher loan production and loan yields. Net interest margin increased 45 basis points quarter-over-quarter to 3.42% for the second quarter of 2022. NIM (ex. PPP, and inc. PA) NIM (ex. PPP and PA) NIM = Net Interest Margin PPP = Paycheck Protection Program PA = Purchase Accounting Weighted average roll-off rate (loans paid off) was 4.7% and the weighted average roll-on rate (loans originated) was 4.5%. Does not include PPP loans. Net interest income excluding PPP and PA totaled $19.4 million, up $3.1 million, or 19.1%, from the prior quarter.

SECOND QUARTER 2022 EARNINGS PRESENTATION PAGE 51.7% 51.2% 51.1% 51.3% 51.9% $1,551 $1,602 $1,719 $1,792 $1,979 $139 $85 $59 $31 2Q 2021 3Q 2021 4Q 2021 1Q 2022 2Q 2022 7 CONSISTENT LOAN GROWTH Total Loans Outstanding ($ in millions) Second quarter loans totaled $2.0 billion, an increase of $164.5 million, or 9.0% from the prior quarter due to strong loan production. Net loan growth, exclusive of PPP loans, increased $187.4 million, or 10.5% quarter-over-quarter. Weighted Average LTV We experienced strong originations across all loan types due to new loan originations of $316 million (of which $233 million funded), partially offset by payoffs of $86 million* ($62 million of conventional loans and $23 million of PPP loans forgiven). * Not including scheduled amortization and unscheduled partial paydowns PPP Loans Does not include PPP loans $1,690 $1,687 $1,777 $1,823 $1,987 Certain prior period amounts have been reclassified to conform to the current period presentation. $8

SECOND QUARTER 2022 EARNINGS PRESENTATION PAGE $286 $329 $310 $357 $340 $874 $959 $1,121 $1,103 $1,056 $262 $268 $266 $256 $208 $855 $799 $674 $871 $778 2Q 2021 3Q 2021 4Q 2021 1Q 2022 2Q 2022 8 STRONG DEPOSIT FRANCHISE Interest Bearing Demand 14% Money Market and Savings 44% Time Deposits 9% Total deposits were $2.4 billion, a decrease of $205.5 million, or 7.9%, compared to Q1 2022 and an increase of $104.6 million, or 4.6%, compared to Q2 2021. Overall cost for deposits decreased 2 basis point from 0.26% in the prior quarter to 0.24% in the second quarter of 2022. Core deposits represent 94.2% of total deposits. Noninterest Bearing 33% $2,277 $2,371$2,355 $2,587 $2,382 Deposits Outstanding ($ in millions)

SECOND QUARTER 2022 EARNINGS PRESENTATION PAGE 13% 14% 13% 14% 14% 36% 39% 45% 40% 43% 11% 11% 11% 10% 9%2% 2% 3% 2% 1% 38% 34% 28% 34% 33% 2Q 2021 3Q 2021 4Q 2021 1Q 2022 2Q 2022 0.25% 0.26% 0.27% 0.26% 0.24% 2Q 2021 3Q 2021 4Q 2021 1Q 2022 2Q 2022 9 Deposit Composition Over Time Interest Bearing Demand Money Market and Savings Time Deposit Our bank’s funding strategy focuses on building strong core relationships with our clients and providing them with a robust technological platform to support a well- diversified deposit portfolio. Cost of Deposits Brokered Deposits* Noninterest Bearing DEPOSIT BALANCES AND COST As of the period end date for each quarter indicated * Brokered deposits include both time and money market accounts.

SECOND QUARTER 2022 EARNINGS PRESENTATION PAGE $5,101 $5,085 $4,416 $4,406 $3,731 $558 $464 $373 $169 $1,811 2Q 2021 3Q 2021 4Q 2021 1Q 2022 2Q 2022 $2,775 $2,775 $2,122 $2,122 $1,468 2Q 2021 3Q 2021 4Q 2021 1Q 2022 2Q 2022 $0 $0 $654 $0 $653 2Q 2021 3Q 2021 4Q 2021 1Q 2022 2Q 2022 10 ROBUST ASSET QUALITY Net Charge-Offs NCO Criticized Assets Classified Non-Classified Nonperforming Loans * NPL percent of Gross Loans ($ in thousands) Credit quality remains strong with minimal criticized assets and nonperforming loans, % of Average Loans 0 bps 0 bps 15 bps 14 bps 0.16% 0.16% 0.12% 0.12% 0.07% TOTAL NPL TOTAL NPL RATIO * 0 bps

SECOND QUARTER 2022 EARNINGS PRESENTATION PAGE $26,551 $25,795 $25,708 $25,021 $25,079 1.69% 1.60% 1.48% 1.39% 1.26% 2Q 2021 3Q 2021 4Q 2021 1Q 2022 2Q 2022 11 ALLOWANCE FOR LOAN AND LEASE LOSS * Does not include PPP Loans ($ in thousands) ALLL + Loan Marks ALLL Ratio* * Does not include PPP Loans Marquis Bank Loans are included Certain prior period amounts have been reclassified to conform to the current period presentation ALLL + Loan Marks / Total Loans $10,418 $11,478 $12,704 $13,555 $15,142 0.67% 0.72% 0.74% 0.76% 0.77% 2Q 2021 3Q 2021 4Q 2021 1Q 2022 2Q 2022 ALLL / Total Loans ALLL ALLL Ratio*

SECOND QUARTER 2022 EARNINGS PRESENTATION PAGE 2Q 2021 3Q 2021 4Q 2021 1Q 2022 2Q 2022 12 Geographic Mix ($ in millions) Miami-Dade County $1,094.5 55% Broward County $228.4 11% Palm Beach County $352.7 18% LOAN PORTFOLIO HIGHLIGHTS Loan Composition CRE - Owner Occupied (19%) CRE - Non-owner Occupied (33%) Residential Real Estate (21%) Commercial (20%) Construction & Development (6%) Consumer & Other Loans (1%) Rest of U.S. $138.2 7%Geographical mix based on collateral location PPP Loans (—%) All other FL counties $173.4 9%

SECOND QUARTER 2022 EARNINGS PRESENTATION PAGE $85 $82 $86 $95 $101 $103 $105 $108 $110 400 bps 300 bps 200 bps 100 bps BASE 100 bps 200 bps 300 bps 400 bps 13 INTEREST RATE SENSITIVITY Impact on NII from Interest Rate Change ($ in millions) The Company remains asset sensitive driven by large cash balances, floating rate loans, and loans maturing in less than a year. Change from base As of June 30, 2022 (15.1)% (18.1)% (14.1)% (5.4)% —% 2.4% 4.7% 7.0% 9.3% (1 .1) (1 .1) (1

SECOND QUARTER 2022 EARNINGS PRESENTATION PAGE Change in Interest Rates (Basis Points) % Change in Net Interest Income (12 months) % Change in Net Interest Income (24 months) % Change in Economic Value of Equity +400 bps 9.3% 19.9% (12.6)% +300 bps 7.0% 15.0% (9.0)% +200 bps 4.7% 10.1% (5.9)% +100 bps 2.4% 5.1% (3.0)% Flat 0 0 0 -100 bps (5.4)% (8.2)% (0.1)% -200 bps (14.1)% (20.6)% (5.5)% -300 bps (18.1)% (26.9)% (9.1)% -400 bps (15.1)% (22.9)% (6.2)% 4.77% 4.02% 3.07% 3.28% 3.69% 1.80% 0.55% 0.30% 0.32% 0.28% 2019 2020 2021 1Q 2022 2Q 2022 14 ASSET LIABILITY MANAGEMENT TRENDS • 15.5% of loans are floating rate ($307 million) • An additional 14.0% of loans are floating to the Bank via interest rate SWAP ($279 million). • The remaining loans are currently fixed rate ($1.4 billion) which in some cases adjust and reprice periodically. Yield/Cost Analysis Yield on Interest- Earning Assets Cost of Funds

SECOND QUARTER 2022 EARNINGS PRESENTATION PAGE MBS/CMO 63% Municipals 2% CDD Bonds 12%Agency 1% Corporate 1% SBA 18% Equity Securities 3% 43% 1% 15% 1% 2% 1% 33% 5% 42% 1% 15% 2% 1% 33% 6% 64% 1%9% 2%1% 20% 3% 63% —% 14%1% 1%17% 3% 15 INVESTMENT PORTFOLIO MIX $198,370 $127,723 $120,642 $201,175 Previous Quarters $212,861 $127,723 $120,642 $201,176 $212,861 $198,370 2Q 2021 3Q 2021 4Q 2021 1Q 2022 2Q 2022 2Q 2021 4Q 2021 1Q 2022 2Q 2022 Total Portfolio ($ in thousands) Current Quarter 3Q 2021

SECOND QUARTER 2022 EARNINGS PRESENTATION PAGE Y e ar s 3.7 3.4 4.1 4.5 4.9 2Q 2021 3Q 2021 4Q 2021 1Q 2022 2Q 2022 2 3 4 5 P e rc e n t 1.75% 1.72% 1.67% 1.88% 2.11% 2Q 2021 3Q 2021 4Q 2021 1Q 2022 2Q 2022 1.00% 1.50% 2.00% 2.50% 3.00% 16 DURATION & YIELD Duration During the quarter, there were purchases of approximately $2.1 million in Municipal Bonds in our available for sale portfolio. The purchases reflected portfolio increases in both yield and duration.  Book Yield The ending unrealized loss on AFS Securities was $15.3 million in Q2 2022.This increase of $5.8 million from $9.5 million in the prior quarter due to rising short term US T rates that affected the banks shorter duration MBS investments.

PAGESECOND QUARTER 2022 EARNINGS PRESENTATION 17 SPOTLIGHT ON A RECORD-BREAKING QUARTER

SECOND QUARTER 2022 EARNINGS PRESENTATION PAGE 18 APPENDIX: NON-GAAP RECONCILIATION ($ in thousands) Adjusted Earnings and ROAA 2Q 2022 1Q 2022 4Q 2021 3Q 2021 2Q 2021 Net interest income (GAAP) $ 21,909 $ 19,047 $ 18,123 $ 19,104 $ 17,202 Total noninterest income (GAAP) $ 1,781 $ 1,273 $ 1,269 $ 1,476 $ 2,302 Total noninterest expense (GAAP) $ 12,604 $ 16,495 $ 12,900 $ 11,624 $ 10,954 Pre-tax pre-provision earnings (non-GAAP) $ 11,086 $ 3,825 $ 6,513 $ 8,956 $ 8,550 Total adjustments to noninterest Expense $ — $ (2,915) $ — $ — $ — Adjusted pre-tax pre-provision earnings (non-GAAP) $ 11,086 $ 6,740 $ 6,513 $ 8,956 $ 8,550 Return on average annualized assets (GAAP) 1.03 % 0.36 % 0.58 % 0.97 % 0.99 % Adjusted return on average assets (non-GAAP) Annualized pre-tax pre-provision ROAA (non-GAAP) 1.63 % 0.57 % 0.95 % 1.39 % 1.33 % Adjusted annualized pre-tax pre-provision ROAA (non-GAAP) 1.63 % 1.00 % 0.95 % 1.39 % 1.33 %

SECOND QUARTER 2022 EARNINGS PRESENTATION PAGE 19 APPENDIX: NON-GAAP RECONCILIATION ($ in thousands) Efficiency Ratio 2Q 2022 1Q 2022 4Q 2021 3Q 2021 2Q 2021 Net interest income (GAAP) $ 21,909 $ 19,047 $ 18,123 $ 19,104 $ 17,202 Total noninterest income $ 1,781 $ 1,273 $ 1,290 $ 1,476 $ 2,302 Less: net gain on the sale and call of securities $ 13 $ — $ 16 $ 1 $ 21 Total revenue (denominator) $ 23,677 $ 20,320 $ 19,397 $ 20,579 $ 19,483 Total noninterest expense (numerator) $ 12,604 $ 16,495 $ 12,900 $ 11,624 $ 10,954 Efficiency Ratio 53.2 % 81.2 % 66.5 % 56.5 % 56.2 %

SECOND QUARTER 2022 EARNINGS PRESENTATION PAGE 20 APPENDIX: NON-GAAP RECONCILIATION ($ in thousands, except per share data) Net Interest Margin Adjustment 2Q 2022 1Q 2022 4Q 2021 3Q 2021 2Q 2021 Net interest income (GAAP) $ 21,909 $ 19,047 $ 18,123 $ 19,104 $ 17,202 Less: PPP net interest income recognized $ (818) $ (1,059) $ (1,269) $ (2,151) $ (1,844) Net interest income excluding PPP (non-GAAP) $ 21,091 $ 17,988 $ 16,854 $ 16,953 $ 15,358 Less: PA premium/discounts $ (1,648) $ (1,661) $ (1,442) $ (1,969) $ (1,192) Net interest income excluding PPP and PA (non-GAAP) $ 19,443 $ 16,327 $ 15,412 $ 14,984 $ 14,166 Average interest earning assets (GAAP) $ 2,572,318 $ 2,599,372 $ 2,584,329 $ 2,431,904 $ 2,447,242 Less: average PPP loans $ (19,727) $ (44,585) $ (72,728) $ (117,256) $ (186,912) Average interest earning assets, excluding PPP (non-GAAP) $ 2,552,591 $ 2,554,787 $ 2,511,601 $ 2,314,648 $ 2,260,330 Add: average PA marks $ 10,436 $ 12,314 $ 14,051 $ 14,317 $ 16,649 Average interest earning assets, excluding PPP and PA (non-GAAP) $ 2,563,027 $ 2,567,101 $ 2,525,652 $ 2,328,965 $ 2,276,979 Net interest margin (GAAP) 3.42 % 2.97 % 2.78 % 3.12 % 2.82 % Net interest margin excluding PPP (non-GAAP) 3.31 % 2.86 % 2.66 % 2.91 % 2.73 % Net interest margin excluding PPP and PA (non-GAAP) 3.04 % 2.58 % 2.42 % 2.55 % 2.50 %

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Cover Page	Jul. 28, 2022
Cover [Abstract]
Document Type	8-K
Document Period End Date	Jul. 28, 2022
Entity Registrant Name	Professional Holding Corp.
Entity Incorporation, State or Country Code	FL
Entity File Number	001-39215
Entity Tax Identification Number	46-5144312
Entity Address, Address Line One	396 Alhambra Circle
Entity Address, Address Line Two	Suite 255
Entity Address, City or Town	Coral Gables
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33134
City Area Code	786
Local Phone Number	483-1757
Title of 12(b) Security	Class A Common Stock, par value $0.01 per share
Trading Symbol	PFHD
Security Exchange Name	NASDAQ
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Amendment Flag	false
Entity Central Index Key	0001630856