Nasdaq: COBZ Banks: Insurance: Wealth Management: Investment Banking:

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1 Nasdaq: COBZ Banks: Colorado Business Bank Arizona Business Bank Insurance: CoBiz Insurance, Inc. Financial Designs Ltd. Wealth Management: CoBiz Private Asset Management Alexander Capital Management Group Investment Banking: Green Manning & Bunch, Ltd.

2 Annual Meeting Agenda Welcome Steve Bangert, CoBiz Inc. Chairman & CEO Business matters Elect directors Ratify selection of Deloitte & Touche LLP Management presentation

3 Proposal One: Elect Directors Steven Bangert Michael B. Burgamy Jerry W. Chapman Thomas M. Longust Jonathan C. Lorenz Evan Makovsky Harold F. Mosanko Howard R. Ross Noel N. Rothman Timothy J. Travis

4 Proposal Two: Ratify Auditors Ratify the selection of Deloitte & Touche LLP as the Company s independent auditors for the fiscal year ending December 31, 2004.

5 Management Presentation

6 Portfolio of Companies Banking Colorado Business Bank (CBB) Arizona Business Bank (ABB) Insurance Financial Designs Ltd. (FDL) CoBiz Insurance, Inc. Investment Banking Green Manning & Bunch, Ltd. (GMB) Wealth Management Alexander Capital Management Group (ACMG) CoBiz Private Asset Management (PAM)

7 Servicing Our Customer s Lifecycle Growth Banking Services from CBB/ABB Capital Planning from GMB Employee & Executive Benefits Packages from FDL Preserve Wealth Trust & Fiduciary Services from CoBiz PAM Investment Management Services from ACMG Wealth Transfer Services from FDL Facilitate Exit/Retirement Strategies M&A Services from GMB Investment Management Services from ACMG Plan for the Future Estate Planning & Business Succession from FDL Financial Planning from CoBiz PAM Protect Assets Property & Casualty Insurance from CoBiz Insurance

8 Asset Growth $s in millions 26% five-year annualized growth rate $1,600 $1,400 $1,200 $1,000 $800 $600 $434 $579 $739 $925 $1,119 $1,404 $400 $302 $200 $

9 Net Income for the year ended; $s in thousands 29% five-year annualized growth rate $14,000 $12,000 $10,000 $8,000 $5,885 $8,124 $8,929 $11,027 $13,030 $6,000 $3,666 $4,000 $1,981 $2,000 $

10 Earnings Per Share diluted; for the year ended 25% five-year annualized growth rate $1.00 $0.90 $0.80 $0.70 $0.60 $0.50 $0.40 $0.30 $0.20 $0.10 $0.00 $0.92 $0.80 $0.62 $0.66 $0.45 $0.30 $

11 Non-Farm Job Growth 5.0% 4.0% 3.0% 2.0% 1.0% 0.0% -1.0% -2.0% -3.0% f Arizona Colorado United States Source: US Dept. of Labor

12 Metro Denver Population Growth in thousands 4,500 4,000 3,500 3,000 2,500 2,000 1,500 1, % Growth ,825 2,582 1,980 1,742 3, Source: US Census Bureau

13 Metro Phoenix Population Growth in thousands 7,000 6,000 5,000 4,000 3,000 2,000 1,000 1,600 2, % growth ,252 4,134 5, Source: US Census Bureau

14 Nasdaq: COBZ Banks: Colorado Business Bank Arizona Business Bank Insurance: CoBiz Insurance, Inc. Financial Designs Ltd. Wealth Management: CoBiz Private Asset Management Alexander Capital Management Group Investment Banking: Green Manning & Bunch, Ltd.

15 Our Banks Core franchise drove company s success Divergent market conditions

16 Our Banks Core franchise drove company s success Divergent market conditions Success in gaining market share

17 Loan Growth $s in thousands % Change Arizona $149,656 $217,007 49% Colorado $643,398 $725,209 13% Total $793,054 $942,216 19%

18 Loan Composition $s in thousands 12/31/02 12/31/03 % Growth Commercial* $ 254,389 $ 308, % Real estate - mortgage $ 366,841 $ 454, % Real estate - construction $ 114,753 $ 109,326 (4.7)% Consumer $ 50,853 $ 61, % Leases $ 12,033 $ 10,201 (15.2)% *National C&I loans decreased by 4.5% during same period.

19 Deposit & Repo Growth $s in thousands % Change Arizona $149,461 $183,909 23% Colorado $822,131 $918,689 12% Total $971,952 $1,102,598 13%

20 Deposit & Repo Composition $s in thousands 12/31/02 12/31/03 % Growth NOW & Money Market Accounts $ 305,954 $ 348, % Savings $ 6,950 $ 8, % CDs $ 331,074 $ 297,532 (10.1)% Total, interest-bearing deposits $ 643,978 $ 654, % Non-interest bearing deposits $ 212,987 $ 304, % Customer repurchase agreements $ 115,517 $ 144, % Total deposits $ 972,482 $1,103,831

21 Loan & Deposit Growth $s in millions Loans 28% five-year annualized growth rate* Deposits 24% five-year annualized growth rate* *as of 12/31/03 $1,000 $900 $800 $700 $600 $500 $400 $300 $200 $100 $ Loans & Leases Deposits

22 Our Banks Core franchise drove company s success Divergent market conditions Success in gaining market share Addition of new banks, bankers ABB-Scottsdale, Jack Jensen Loans: $44.1 million; Deposits & Repo s: $17.7 million (3/31/04) CBB-NE, Margaret Brown Loans: $25.4 million; Deposits & Repo s: $19.8 million (3/31/04) ABB-Phoenix Real Estate Department, Kevin Kosan Penetration of single-family construction Loans: $16 million (3/31/04) $45 million in commitments (3/31/04)

23 Our Banks Core franchise drove company s success Divergent market conditions Success in gaining market share Addition of new banks, bankers Dedicated customer following

24 Our Banks Core franchise drove company s success Divergent market conditions Success in gaining market share Addition of new banks, bankers Dedicated customer following Technology used to differentiate us from other banks New products Fraud prevention

25 Our Banks Core franchise drove company s success Divergent market conditions Success in gaining market share Addition of new banks, bankers Dedicated customer following Technology used to differentiate us from other banks Strong asset quality

26 Asset Quality Non-Performing Assets 1.00% 0.90% 0.80% 0.70% 0.60% 0.50% 0.40% 0.30% 0.24% 0.22% 0.20% 0.10% 0.12% 0.07% 0.11% 0.14% 0.00% Q Non-Performing Assets to Total Assets

27 1.00% Asset Quality Net Charge-offs 0.90% 0.80% 0.70% 0.60% 0.50% 0.40% 0.30% 0.20% 0.10% 0.05% 0.10% 0.05% 0.15% 0.09% 0.06% 0.00% Q Net Charge-offs to Average Loans and Leases

28 Future Plans Leverage opportunities in growing economies Gain market share through new locations, bankers

29 Market Share Opportunity Markets Dominated by Out-of-State Banks Colorado Business Bank 1.3% % of total deposits; as of 6/30/03 Community Banks 38.2% Arizona Business Bank 0.3% Community Banks 5.7% Out-of-State Banks 60.5% Colorado Total deposits: $61.1 billion Out-of-State Banks 94.0% Arizona Total deposits: $56.0 billion

30 Peer Asset Growth $s in millions 12/31/00 12/31/03 $ Change % Change CoBiz Inc. $ 515 $ 1,365 $ % Guaranty $ 947 $ 1,429 $ % FirstBank $ 4,966 $ 6,693 $ 1, % Sturm Financial $ 1,273 $ 1,505 $ %

31 Future Plans Leverage opportunities in growing economies Gain market share through new locations, bankers Locations announced in 1Q04

32 Colorado Business Bank Existing locations Planned location Vail

33 Arizona Business Bank Existing locations Planned locations

34 Future Plans Leverage opportunities in growing economies Gain market share through new locations, bankers Locations announced in 1Q04 Two-three additional Arizona locations in next months One-two additional Colorado locations in next months

35 Nasdaq: COBZ Banks: Colorado Business Bank Arizona Business Bank Insurance: CoBiz Insurance, Inc. Financial Designs Ltd. Wealth Management: CoBiz Private Asset Management Alexander Capital Management Group Investment Banking: Green Manning & Bunch, Ltd.

36 Fee-Based Strategy Acquire/grow leading companies complementary to banking franchise Target needs of professionals and small to mid-sized businesses 25% of growth from referrals

37 Insurance CoBiz Insurance Acquired March 2001 Products and services Commercial property and casualty products Consulting and risk management services Personal lines Financial Designs Acquired April 2003 Products and services Employee benefits group health and retirement plans Business succession planning Executive compensation Estate and wealth transfer planning

38 Insurance $10,000 $9,000 $8,000 $7,000 $6,000 $5,000 $4,000 $3,000 $2,000 $1,000 $0 Revenues ($s in thousands) $8,914 $1,100 $1, $4.5 million annual revenue break-even hurdle 20% pre-tax profit margin 1Q04 revenues: $1.9 million

39 Insurance Opportunities CoBiz Insurance Cross marketing opportunities with FDL Movement up market Increased revenue per account Financial Designs Wealth transfer Cross marketing with ACMG, PAM and private banking units Expansion into Arizona Employee benefits group Preferred provider with carriers; cost-effective pricing

40 Wealth Management CoBiz Private Asset Management Established March 1998 Products and services Personal trust, fiduciary & family-office services Asset management services sub-advised to ACMG Managed mutual fund asset allocation product Alexander Capital Management Group Acquired April 2003 Products and services Large-cap equity product individual securities Equally weighted positions (2-3%) Risk control sector limitations Separately managed fixedincome and balanced portfolios Managed asset allocation products

41 ACMG Performance 1 Year 3 Years* 5 Years* 10 Years* ACMG 45.3% 4.3% 8.4% 11.9% Standard & Poor s % 0.6% -1.2% 11.7% Russell % 1.3% -0.6% 11.7% S&P/Barra Value 44.2% 0.6% 2.1% 11.3% *Annualized Please be advised that the performance figures are preliminary gross figures taken from our Large Cap Core Equity Composite (see our AIMR disclosure sheet for details). That is, they are taken before deductions of our fees, which are on a sliding scale of 0.60% to 1.50% for smaller accounts. If the return figures were net, they would be reduced by the amount of our annual fees and other expenses as well as some deduction for compounding of fees. Investment fees are described in more detail in Part II of our Form ADV. These historical returns include reinvestment of earnings and may not be indicative of future performance. Final quarterly returns are available gross and net of fees upon the completion of our account verification. The net effect of the deduction of fees on an annualized performance, including the compounded effect over time, is determined by the relative size of the fee and the account s investment performance. The chart below depicts the effect of a 1% management fee on the growth of one dollar over a 10-year period at 10% (9% after fees) and 20% (19% after fees) assumed rates of return. Year % % % % Consultants: Performance gross of fees without accompanying net of fees performance is for use only in one-on-one meetings

42 Wealth Management $2,750 $2,500 $2,250 $2,000 $1,750 $1,500 $1,250 $1,000 $750 $500 $250 $0 Revenues ($s in thousands) $2,453 $712 $ $3.0 million annual revenue break-even hurdle 15% pre-tax profit margin Assets under 3/31/04: $459.4 million 46% annualized quarterly increase 1Q04 revenues: $958,000

43 Wealth Management Opportunities CoBiz Private Asset Management Expansion into Arizona Cross marketing with FDL and ACMG ACMG as moneymanagement alternative Alexander Capital Management Group Expansion into Arizona Cross marketing with FDL, PAM and banks Grow AUM through new distribution channels Fidelity Investments, TD Waterhouse trusted advisor Wrap networks: Investnet PMC, DA Davidson

44 Investment Banking Green Manning & Bunch Acquired July 2001 Products and services M&A sell-side focus Private financing: equity; senior debt; sub-debt Financial advisory services: company valuations & fairness opinions Target clients Companies with annual sales of $10-$250 million M&A transaction size of $15 million or more Private financing Equity: transaction size of $10 million or more Senior debt: transaction size of $20 million or more Sub-debt: transaction size of $10 million or more Industry focus Health care Construction Manufacturing/distribution services

45 Investment Banking $4,000 $3,000 $2,000 $1,000 Revenues ($s in thousands) $2,799 $1,846 $1,387 $3.5 million annual revenue break-even hurdle Pre-Sept 2001 firm had a 90% closing success rate 1Q04 revenues: $534,000 $0 2001* *Acquired July 2001

46 Investment Banking Opportunities Increasing activity in M&A market Improving national economy Private equity firms need to deploy capital reserves Improvements in public, private debt markets Improvements in public IPO markets Expanding operating margins over breakeven point ($3.5 million)

47 Growth of Non-Interest Income $s in thousands $25,000 35% $20,000 30% 25% $15,000 20% $10,000 15% 10% $5,000 5% $0 1Q00 2Q00 3Q00 4Q00 1Q01 2Q01 3Q01 4Q01 1Q02 2Q02 3Q02 4Q02 1Q03 2Q03 3Q03 4Q03 1Q04 0% Operating Revenue NII to Operating Revenue %

48 Fee Income Sources % of operating income % 4.2% 5.2% 6.1% 8.3% 2.5% 10.8% 13.2% 3.5% 1.6% 3.0% 1.3% Banking Wealth Management Insurance Investment Banking

49 Nasdaq: COBZ Banks: Colorado Business Bank Arizona Business Bank Insurance: CoBiz Insurance, Inc. Financial Designs Ltd. Wealth Management: CoBiz Private Asset Management Alexander Capital Management Group Investment Banking: Green Manning & Bunch, Ltd.

50 Short-Term Outlook Colorado bank well positioned to take advantage of economic recovery Arizona bank gaining momentum in recruiting bankers Asset-sensitive balance sheet will benefit from rising rates No dependency on mortgage-related fees Increased contribution from Investment Banking segment Break-even will immediately add $.09 to 2004 diluted EPS

51 Strategic Goals Three to five years Sustained asset and earnings annualized growth of 15-20% Reach critical mass in Arizona market $1 billion in assets Build fee income to reduce net interest income dependency Target 30% fee income to operating revenues Reduce efficiency ratio to 55-60% range

52 Corporate Governance Met or exceeded all Sarbanes-Oxley requirements Adopted Code of Conduct & Ethics Reviewed and signed annually by employees, board Implemented whistleblower mechanisms Board of Directors 2/3 independent Board Committees 100% independent Institutional Shareholder Services Outperformed 91.1% of Russell 3000 companies Outperformed 89.8% of banks

53 Earnings Per Share - Segment Earnings: Q Q Q Q Q Bank * $ 3,405 $ 3,478 $ 4,047 $ 3,754 $ 4,101 Fee-Based Business Lines: Insurance Wealth Management & Trust Investment Banking Total Fee-Based Lines 43 (31) (415) (403) 286 (15) (81) (10) (410) (311) (341) (120) 20 Parent Company & Other (350) (442) (436) (569) (566) Quarterly Net Income $ 2,652 $ 3,225 $ 3,300 $ 3,849 $ 3,555 EPS Bank Fee-Based Business Lines: Insurance Money Management & Trust Investment Banking Total Fee-Based Lines Parent Company & Other Quarterly Diluted EPS Prior Year Quarter EPS Q $ (0.00) (0.03) (0.03) (0.02) $ 0.19 $ 0.19 Q $ (0.00) (0.01) 0.01 (0.03) $ 0.23 $ 0.23 Q $ (0.00) (0.03) (0.02) (0.03) $ 0.23 $ 0.18 Q $ (0.02) 0.04 (0.04) $ 0.26 $ 0.20 * Includes Colorado Business Leasing which is reported under Corporate Support & Other in segment disclosure Q $ (0.01) 0.00 (0.04) $ 0.24 $ 0.19

54 Comparative Returns (0.20) % 76.37% 41.20% 0.00% CoBiz Russell 2000 Index Nasdaq Bank Index

55 Forward-Looking Statements This presentation may contain forward-looking statements. Although the Company believes that the expectations reflected in the forward looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. The forwardlooking statements involve risks and uncertainties that affect the Company s operations, financial performance and other factors, as discussed in the Company s filings with the Securities and Exchange Commission. These risks include the impact of interest rates and other general economic conditions, loan and lease losses, risks related to the execution of the Company s growth strategy, the possible loss of key personnel, factors that could affect the Company s ability to compete in its market areas, changes in regulations and government policies and other factors discussed in the Company s filings with the Securities and Exchange Commission.