EX 991

Exhibit 99.1

CoBiz Financial Announces Third Quarter 2016 Results

Denver -- CoBiz Financial Inc. (Company) (NASDAQ: COBZ), a financial services company with $3.5 billion in assets, reported financial results for the third quarter of 2016.

Financial Highlights – Third Quarter 2016

•Net income available to common shareholders of $10.3 million for the third quarter of 2016, compared to $6.9 million in the third quarter of 2015.

•Diluted earnings per share of $0.25 for the third quarter of 2016, compared to $0.17 in the third quarter of 2015.

•Loans increased $206.1 million, or 7.9%, from September 30, 2015 and $13.4 million from June 30, 2016.

•Deposits increased $229.8 million, or 8.5%, from September 30, 2015 and $130.8 million from the linked-quarter.

•Nonperforming assets (NPAs) to total assets of 0.29% at September 30, 2016, compared to 0.31% at September 30, 2015 and 0.32% at June 30, 2016.

Financial Summary


	Quarter ended (unaudited)										3Q16 change vs.
(in thousands, except per share amounts)	3Q16			2Q16			3Q15			2Q16				3Q15
Net interest income before provision	$	29,401		$	28,533		$	27,367		$	868	3.0	%	$	2,034	7.4	%
Provision for loan losses		(1,168)			(1,652)			762			484	29.3	%		(1,930)	(253.3)	%
Net interest income after provision		30,569			30,185			26,605			384	1.3	%		3,964	14.9	%
Total noninterest income		9,286			7,812			7,424			1,474	18.9	%		1,862	25.1	%
Total noninterest expense		26,043			26,268			24,738			(225)	(0.9)	%		1,305	5.3	%
Net income before income taxes		13,812			11,729			9,291			2,083	17.8	%		4,521	48.7	%
Provision for income taxes		3,543			3,197			2,337			346	10.8	%		1,206	51.6	%
Net income		10,269			8,532			6,954			1,737	20.4	%		3,315	47.7	%
Preferred stock dividends		-			-			(33)			-	-	%		33	100.0	%
Net income available to common shareholders	$	10,269		$	8,532		$	6,921		$	1,737	20.4	%	$	3,348	48.4	%

Diluted earnings per common share	$	0.25		$	0.21		$	0.17		$	0.04	19.0	%	$	0.08	47.1	%

KEY RATIOS
Net interest margin		3.74	%		3.72	%		3.72	%
Efficiency ratio - taxable equivalent *		64.50	%		68.71	%		68.25	%
Return on average assets		1.18	%		1.01	%		0.87	%
Return on average shareholders' equity		14.04	%		12.19	%		9.76	%
Noninterest income as a percentage of taxable equivalent operating revenue *		22.91	%		20.44	%		20.43	%

* See accompanying Reconciliation of Non-GAAP Measures to GAAP

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Loans


	Quarter ended (unaudited)							3Q16 change vs.
(in thousands)	3Q16		2Q16		3Q15		2Q16				3Q15
LOANS
Commercial	$	1,196,088	$	1,218,723	$	1,173,950	$	(22,635)	(1.9)	%	$	22,138	1.9	%
Owner-occupied real estate		473,809		446,699		443,907		27,110	6.1	%		29,902	6.7	%
Investor real estate		625,174		607,168		474,284		18,006	3.0	%		150,890	31.8	%
Construction & land		170,594		184,620		229,284		(14,026)	(7.6)	%		(58,690)	(25.6)	%
Consumer		263,871		258,773		244,994		5,098	2.0	%		18,877	7.7	%
Other		97,569		97,720		54,634		(151)	(0.2)	%		42,935	78.6	%
Total loans	$	2,827,105	$	2,813,703	$	2,621,053	$	13,402	0.5	%	$	206,052	7.9	%

•Loans at September 30, 2016 increased $206.1 million, or 7.9%, from September 30, 2015 and $13.4 million from June 30, 2016.

•Loans in the Arizona and Colorado markets increased $136.0 million and $70.0 million, respectively, from September 30, 2015. On a linked-quarter basis, loans in the Arizona and Colorado markets increased $12.6 million and $0.8 million, respectively.


	Quarter ended (unaudited)
(in thousands)	3Q16		2Q16		1Q16		4Q15		3Q15
Loans - beginning balance	$	2,813,703	$	2,716,888	$	2,699,205	$	2,621,053	$	2,496,113
New credit extended		154,319		201,018		136,126		187,750		261,764
Credit advanced		108,074		135,294		111,032		129,789		131,936
Paydowns & maturities		(248,760)		(239,447)		(223,102)		(239,212)		(268,673)
Gross loan charge-offs		(231)		(50)		(6,373)		(175)		(87)
Loans - ending balance	$	2,827,105	$	2,813,703	$	2,716,888	$	2,699,205	$	2,621,053

Net change - loans outstanding	$	13,402	$	96,815	$	17,683	$	78,152	$	124,940

•New credit extensions and advances decreased in the third quarter of 2016 relative to the prior-year quarter and the linked-quarter. Paydowns and maturities were relatively constant during the same periods.

•Commercial line utilization was 34.0% at September 30, 2016, compared to 34.7% and 36.3%, respectively, at September 30, 2015 and June 30, 2016.

Deposits and Customer Repurchase Agreements



	Quarter ended (unaudited)							3Q16 change vs.
(in thousands)	3Q16		2Q16		3Q15		2Q16				3Q15
DEPOSITS AND CUSTOMER REPURCHASE AGREEMENTS
Money market	$	854,928	$	853,815	$	832,131	$	1,113	0.1	%	$	22,797	2.7	%
Interest-bearing demand		681,256		591,355		572,848		89,901	15.2	%		108,408	18.9	%
Savings		20,403		19,097		18,540		1,306	6.8	%		1,863	10.0	%
Certificates of deposits under $100		20,151		19,836		22,220		315	1.6	%		(2,069)	(9.3)	%
Certificates of deposits $100 and over		87,593		89,008		100,958		(1,415)	(1.6)	%		(13,365)	(13.2)	%
Reciprocal CDARS		46,316		49,210		32,969		(2,894)	(5.9)	%		13,347	40.5	%
Total interest-bearing deposits		1,710,647		1,622,321		1,579,666		88,326	5.4	%		130,981	8.3	%
Noninterest-bearing demand deposits		1,226,546		1,184,023		1,127,747		42,523	3.6	%		98,799	8.8	%
Total deposits		2,937,193		2,806,344		2,707,413		130,849	4.7	%		229,780	8.5	%
Customer repurchase agreements		52,114		37,908		62,182		14,206	37.5	%		(10,068)	(16.2)	%
Total deposits and customer repurchase agreements	$	2,989,307	$	2,844,252	$	2,769,595	$	145,055	5.1	%	$	219,712	7.9	%

•Total deposits at September 30, 2016 increased $229.8 million, or 8.5%, from September 30, 2015 and $130.8 million from June 30, 2016.

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•Noninterest-bearing demand accounts increased $98.8 million from September 30, 2015 and $42.5 million from June 30, 2016 and were 41.8% of total deposits at September 30, 2016.

Credit Quality


	Quarter ended (unaudited)
(in thousands)	3Q16			2Q16			3Q15
ALLOWANCE FOR LOAN AND CREDIT LOSSES
Beginning allowance for loan losses	$	34,344		$	35,285		$	33,832
Provision for loan losses		(1,168)			(1,652)			762
Net recovery		353			711			305
Ending allowance for loan losses	$	33,529		$	34,344		$	34,899

CREDIT QUALITY
Nonaccrual loans	$	5,046		$	5,994		$	4,881
Loans 90 days or more past due and accruing interest		-			-			-
Total nonperforming loans		5,046			5,994			4,881
OREO and repossessed assets		5,079			5,079			5,481
Total nonperforming assets	$	10,125		$	11,073		$	10,362

Performing renegotiated loans	$	25,291		$	27,240		$	29,567
Classified loans	$	58,376		$	58,163		$	41,190

ASSET QUALITY MEASURES
Nonperforming assets to total assets		0.29	%		0.32	%		0.31	%
Nonperforming loans to total loans		0.18	%		0.21	%		0.19	%
Nonperforming loans and OREO to total loans and OREO		0.36	%		0.39	%		0.39	%
Allowance for loan and credit losses to total loans		1.19	%		1.22	%		1.33	%
Allowance for loan and credit losses to nonperforming loans		664.47	%		572.97	%		715.00	%

•NPAs decreased $0.9 million from June 30, 2016 to $10.1 million at September 30, 2016.

•The Company had net recoveries of $0.4 million in the third quarter of 2016.

•A negative provision for loan losses of $1.2 million was recorded in the third quarter of 2016 as a result of the net recoveries, the decrease in NPAs and an improvement in adversely graded credits.

•The resulting allowance for loan and credit losses (Allowance) was 1.19% of total loans, and the coverage of Allowance to nonperforming loans was 664.5% at September 30, 2016.

Shareholders’ Equity


	Quarter ended (unaudited)
(in thousands, except per share amounts)	3Q16			2Q16			3Q15
EQUITY MEASURES
Common shareholders' equity	$	295,837		$	286,052		$	269,969

Common shares outstanding at period end		41,465			41,433			41,067

Book value per common share	$	7.13		$	6.90		$	6.57
Tangible book value per common share *	$	7.10		$	6.86		$	6.52

Tangible common equity to tangible assets *		8.53	%		8.23	%		8.10	%
Tier 1 capital ratio		**			10.75	%		11.05	%
Total risk-based capital ratio		**			13.77	%		14.13	%

* See accompanying Reconciliation of Non-GAAP Measures to GAAP

** Ratios unavailable at the time of release.

•On October 14, 2016, the Board of Directors of the Company declared a quarterly cash dividend of $0.05 per common share. The dividend will be paid on November 7, 2016 to shareholders of record on October 31, 2016.

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Net Interest Income and Margin

•Net interest income on a tax-equivalent basis (NII) was $31.2 million for the third quarter of 2016, an increase of $2.3 million, or 8.1%, from the quarter ended September 30, 2015. From the quarter ended June 30, 2016, NII increased $0.8 million, or 2.8%.

•The Net Interest Margin (NIM) was 3.74% for the third quarter of 2016, an increase of 2 basis points from the prior-year and linked-quarter NIM of 3.72%.

•Supporting the growth in NII was an increase in the earning asset base and improved deposit composition.

Quarterly average loans increased $282.6 million, or 11.1%, from the prior-year quarter, and $44.5 million from the linked-quarter.

Quarterly average deposits increased $277.4 million, or 10.5%, from the prior-year quarter, and $107.8 million from the linked-quarter.

Average noninterest-bearing demand accounts increased $189.8 million, or 17.6%, from the prior-year quarter and $47.4 million from the linked-quarter.

Noninterest Income


	Quarter ended (unaudited)							3Q16 change vs.
(in thousands)	3Q16		2Q16		3Q15		2Q16				3Q15
Noninterest income:
Deposit service charges	$	1,553	$	1,470	$	1,490	$	83	5.6	%	$	63	4.2	%
Investment advisory income		1,416		1,430		1,478		(14)	(1.0)	%		(62)	(4.2)	%
Insurance income		3,120		3,112		3,023		8	0.3	%		97	3.2	%
Equity method investments		1,348		420		70		928	221.0	%		1,278	1,825.7	%
Interest rate swaps		-		(163)		(156)		163	100.0	%		156	100.0	%
Other income		1,849		1,543		1,519		306	19.8	%		330	21.7	%
Total noninterest income	$	9,286	$	7,812	$	7,424	$	1,474	18.9	%	$	1,862	25.1	%

•Noninterest income increased $1.9 million, or 25.1%, from the prior-year quarter and $1.5 million, or 18.9%, from the linked-quarter. The increases were primarily due to higher income on the Company’s equity method investments.

•Noninterest income as a percentage of taxable equivalent operating revenue was 22.9% for the third quarter of 2016, compared to 20.4% in both the prior-year and linked-quarters.

Operating Expenses


	Quarter ended (unaudited)							3Q16 change vs.
(in thousands)	3Q16		2Q16		3Q15		2Q16				3Q15
Noninterest expense:
Salaries and employee benefits	$	17,480	$	17,984	$	16,623	$	(504)	(2.8)	%	$	857	5.2	%
Occupancy expenses, premises and equipment		4,025		3,517		3,371		508	14.4	%		654	19.4	%
Amortization of intangibles		150		150		150		-	-	%		-	-	%
Other operating expenses		4,486		4,610		4,653		(124)	(2.7)	%		(167)	(3.6)	%
Net (gain) loss on OREO, repossessed assets and other		(98)		7		(59)		(105)	(1,500.0)	%		(39)	(66.1)	%
Total noninterest expense	$	26,043	$	26,268	$	24,738	$	(225)	(0.9)	%	$	1,305	5.3	%

•Noninterest expense increased $1.3 million, or 5.3%, from the prior-year quarter and decreased $0.2 million from the linked-quarter. The increase in noninterest expense compared to the prior-year quarter was due to increases in salaries, employee benefits and occupancy expenses. The increase in salaries and employee benefits was partially due to a projected increase in the Company’s retirement plan contribution, which is based on return on average assets. The increase in occupancy expense was due to the lease of the Company’s new headquarters location. Occupancy expense is expected to decline in 2017 when the lease on the current headquarters location is terminated.

•The efficiency ratio was 64.5% for the third quarter of 2016, compared to 68.3% and 68.7%, respectively, for the prior-year and linked-quarters.

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Earnings Conference Call

In conjunction with this release, you are invited to listen to the Company's conference call on Friday, October 21, 2016, at 9:00 am MDT with Steve Bangert, chairman and CEO of CoBiz Financial Inc. The call can be accessed via the Internet at https://www.webcaster4.com/Webcast/Page/989/17430 or by telephone at 877.493.9121 (conference ID # 86290694).

Explanation of the Company’s Use of Non-GAAP Financial Measures

This earnings release contains GAAP financial measures and non-GAAP financial measures where management believes it to be helpful in understanding our results of operations and reflects the basis on which management internally reviews financial performance and capital adequacy. We believe these measures provide important supplemental information to investors. However, you should not rely on non-GAAP financial measures alone as measures of our performance. Please see the accompanying Reconciliation of Non-GAAP Measures to GAAP for additional information.

Contact Information

CoBiz Financial Inc.

Lyne Andrich 303.312.3458

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About CoBiz Financial

CoBiz Financial (NASDAQ:COBZ) is a $3.5 billion financial services company that serves the complete financial needs of businesses, business owners and professionals in Colorado and Arizona. The Company provides banking services through Colorado Business Bank, Arizona Business Bank and CoBiz Private Bank; wealth planning and investment management through CoBiz Wealth Management; and property and casualty insurance brokerage and employee benefits through CoBiz Insurance.

Forward-Looking Information

This release contains forward-looking statements that describe CoBiz's future plans, strategies and expectations. Forward-looking statements include statements about future performance and results of operations. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include words such as "believe," "expect," "anticipate," "intend," "plan," "estimate" or words of similar meaning, or future or conditional verbs such as "would”, "could", “should” or "may." Forward-looking statements speak only as of the date they are made. All forward-looking statements are based on assumptions and involve risks and uncertainties, many of which are beyond our control and which may cause our actual results, performance or achievements to differ materially from the results, performance or achievements contemplated by the forward-looking statements. Such risks and uncertainties include, among other things:

•Risks and uncertainties described in our reports filed with the Securities and Exchange Commission, including our most recent Form 10-K.

•Competitive pressures among depository and other financial institutions nationally and in our market areas may increase significantly.

•Adverse changes in the economy or business conditions, either nationally or in our market areas, could increase credit-related losses and expenses and/or limit growth.

•Increases in defaults by borrowers and other delinquencies could result in increases in our provision for losses on loans and related expenses.

•Our ability to manage growth effectively could adversely affect our results of operations and prospects.

•Fluctuations in interest rates and market prices could reduce our net interest margin and asset valuations and increase our expenses.

•The consequences of continued bank acquisitions and mergers in our market areas, resulting in fewer but much larger and financially stronger competitors, could increase competition for financial services to our detriment.

•Changes in legislative or regulatory requirements applicable to us and our subsidiaries and implementation of current legislative or regulatory requirements could increase costs, limit certain operations and adversely affect results of operations.

•Changes in tax requirements, including tax rate changes, new tax laws and revised tax law interpretations may increase our tax expense or adversely affect our customers' businesses.

In light of these risks, uncertainties and assumptions, you should not place undue reliance on any forward-looking statements in this release. We undertake no obligation to publicly update or otherwise revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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CoBiz Financial Inc.

September 30, 2016

(unaudited)


	Three months ended September 30,				Nine months ended September 30,
(in thousands, except per share amounts)	2016		2015		2016			2015
INCOME STATEMENT DATA
Interest income	$	32,308	$	30,177	$	95,003		$	90,185
Interest expense		2,907		2,810		8,840			6,745
NET INTEREST INCOME BEFORE PROVISION		29,401		27,367		86,163			83,440
Provision for loan losses		(1,168)		762		(2,450)			1,030
NET INTEREST INCOME AFTER PROVISION		30,569		26,605		88,613			82,410
Noninterest income		9,286		7,424		24,786			22,682
Noninterest expense		26,043		24,738		78,143			74,460
INCOME BEFORE INCOME TAXES		13,812		9,291		35,256			30,632
Provision for income taxes		3,543		2,337		9,090			8,892
NET INCOME FROM CONTINUING OPERATIONS		10,269		6,954		26,166			21,740
Loss from discontinued operations, net of tax		-		-		-			(71)
NET INCOME	$	10,269	$	6,954	$	26,166		$	21,669

Preferred stock dividends		-		(33)		-			(320)
NET INCOME AVAILABLE TO COMMON SHAREHOLDERS	$	10,269	$	6,921	$	26,166		$	21,349

EARNINGS PER COMMON SHARE
BASIC	$	0.25	$	0.17	$	0.63		$	0.52
DILUTED	$	0.25	$	0.17	$	0.63		$	0.52

EQUITY MEASURES
Common shares outstanding at period end (in thousands)						41,465			41,067
Book value per common share					$	7.13		$	6.57
Tangible book value per common share *					$	7.10		$	6.52
Tangible common equity to tangible assets *						8.53	%		8.10	%

* See accompanying Reconciliation of Non-GAAP Measures to GAAP

PERIOD END BALANCES
Total assets					$	3,452,498		$	3,307,772
Investments						455,082			513,864
Loans						2,827,105			2,621,053
Intangible assets						1,476			2,076
Deposits						2,937,193			2,707,413
Subordinated debentures						131,256			131,178
Common shareholders' equity						295,837			269,969
Interest-earning assets						3,309,804			3,171,849
Interest-bearing liabilities						1,896,216			1,883,026

BALANCE SHEET AVERAGES
Average assets					$	3,401,211		$	3,099,120
Average investments						485,872			494,697
Average loans						2,767,404			2,472,634
Average deposits						2,806,806			2,572,494
Average subordinated debentures						131,226			93,346
Average shareholders' equity						282,847			304,926
Average interest-earning assets						3,279,601			2,992,855
Average interest-bearing liabilities						1,881,492			1,734,032

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CoBiz Financial Inc.

September 30, 2016

(unaudited)


	Three months ended September 30,						Nine months ended September 30,
(in thousands)	2016			2015			2016			2015
PROFITABILITY MEASURES
Net interest margin		3.74	%		3.72	%		3.73	%		3.91	%
Efficiency ratio - taxable equivalent *		64.50	%		68.25	%		67.22	%		67.70	%
Return on average assets		1.18	%		0.87	%		1.03	%		0.93	%
Return on average shareholders' equity		14.04	%		9.76	%		12.36	%		9.50	%
Noninterest income as a percentage of taxable equivalent operating revenue *		22.91	%		20.43	%		21.30	%		20.59	%

CREDIT QUALITY
Nonperforming loans
Nonaccrual loans							$	5,046		$	4,881
Loans 90 days or more past due and accruing interest								-			-
Total nonperforming loans								5,046			4,881
OREO & repossessed assets								5,079			5,481
Total nonperforming assets							$	10,125		$	10,362

Performing renegotiated loans							$	25,291		$	29,567
Classified loans							$	58,376		$	41,190

Charge-offs							$	(6,654)		$	(1,121)
Recoveries								1,947			2,225
Net recoveries (charge-offs)							$	(4,707)		$	1,104

Nonperforming assets to total assets								0.29	%		0.31	%
Nonperforming loans to total loans								0.18	%		0.19	%
Nonperforming loans and OREO to total loans and OREO								0.36	%		0.39	%
Allowance for loan and credit losses to total loans								1.19	%		1.33	%
Allowance for loan and credit losses to nonperforming loans								664.47	%		715.00	%


										Total		NPAs as a
NONPERFORMING ASSETS BY MARKET	Colorado			Arizona			Total			in Category		%
Commercial	$	4,106		$	396		$	4,502		$	1,196,088	0.38	%
Real estate - mortgage		-			441			441			1,098,983	0.04	%
Construction & land		-			-			-			170,594	-	%
Consumer		103			-			103			263,871	0.04	%
Other loans		-			-			-			97,569	-	%
OREO & repossessed assets		4,903			176			5,079			5,079	-
NPAs	$	9,112		$	1,013		$	10,125		$	2,832,184	0.36	%

Total loans	$	1,868,582		$	958,523		$	2,827,105
Total loans and OREO		1,873,485			958,699			2,832,184
Nonperforming loans to loans		0.23	%		0.09	%		0.18	%
Nonperforming loans and OREO to total loans and OREO		0.49	%		0.11	%		0.36	%

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CoBiz Financial Inc.

September 30, 2016

(unaudited)


	Three months ended
	September 30,			June 30,			March 31,			December 31,			September 30,
(in thousands, except per share amounts)	2016			2016			2016			2015			2015
Interest income	$	32,308		$	31,500		$	31,195		$	31,081		$	30,177
Interest expense		2,907			2,967			2,966			2,845			2,810
Net interest income before provision		29,401			28,533			28,229			28,236			27,367
Provision for loan losses		(1,168)			(1,652)			370			5,390			762
Net interest income after provision		30,569			30,185			27,859			22,846			26,605
Noninterest income:
Deposit service charges	$	1,553		$	1,470		$	1,485		$	1,424		$	1,490
Investment advisory income		1,416			1,430			1,450			1,388			1,478
Insurance income		3,120			3,112			3,050			2,937			3,023
Equity method investments		1,348			420			494			453			70
Interest rate swaps		-			(163)			(293)			154			(156)
Other income		1,849			1,543			1,502			1,629			1,519
Total noninterest income		9,286			7,812			7,688			7,985			7,424
Noninterest expense:
Salaries and employee benefits	$	17,480		$	17,984		$	17,629		$	17,808		$	16,623
Occupancy expenses, premises and equipment		4,025			3,517			3,490			3,301			3,371
Amortization of intangibles		150			150			150			150			150
Other operating expenses		4,486			4,610			4,560			4,704			4,653
Net (gain) loss on securities, other assets and OREO		(98)			7			3			(246)			(59)
Total noninterest expense		26,043			26,268			25,832			25,717			24,738
Net income before income taxes		13,812			11,729			9,715			5,114			9,291
Provision for income taxes		3,543			3,197			2,350			714			2,337
Net income	$	10,269		$	8,532		$	7,365		$	4,400		$	6,954

Preferred stock dividends		-			-			-			-			(33)
Net income available to common shareholders	$	10,269		$	8,532		$	7,365		$	4,400		$	6,921

Earnings per common share
Basic	$	0.25		$	0.21		$	0.18		$	0.11		$	0.17
Diluted	$	0.25		$	0.21		$	0.18		$	0.11		$	0.17

PROFITABILITY MEASURES
Net interest margin		3.74	%		3.72	%		3.73	%		3.73	%		3.72	%
Efficiency ratio - taxable equivalent *		64.50	%		68.71	%		68.63	%		68.51	%		68.25	%
Return on average assets		1.18	%		1.01	%		0.88	%		0.53	%		0.87	%
Return on average shareholders' equity		14.04	%		12.19	%		10.74	%		6.37	%		9.76	%
Noninterest income as a percentage of taxable equivalent operating revenue *		22.91	%		20.44	%		20.43	%		21.07	%		20.43	%

EQUITY MEASURES
Common shares outstanding at period end (in thousands)		41,465			41,433			41,355			41,122			41,067
Diluted weighted average common shares outstanding (in thousands)		41,192			41,105			40,829			40,874			40,824
Book value per common share	$	7.13		$	6.90		$	6.72		$	6.65		$	6.57
Tangible book value per common share *	$	7.10		$	6.86		$	6.67		$	6.60		$	6.52

Tangible common equity to tangible assets *		8.53	%		8.23	%		8.23	%		8.11	%		8.10	%
Tier 1 capital ratio		**	%		10.75	%		10.52	%		10.47	%		11.05	%
Total risk based capital ratio		**	%		13.77	%		13.66	%		13.73	%		14.13	%

* See accompanying Reconciliation of Non-GAAP Measures to GAAP

** Ratios unavailable at the time of release.

9 | Page

CoBiz Financial Inc.

September 30, 2016

(unaudited)


	At
	September 30,			June 30,			March 31,			December 31,			September 30,
(in thousands)	2016			2016			2016			2015			2015
PERIOD END BALANCES
Total assets	$	3,452,498		$	3,457,516		$	3,357,000		$	3,351,767		$	3,307,772
Investments		455,082			477,617			495,012			512,812			513,864
Loans		2,827,105			2,813,703			2,716,888			2,699,205			2,621,053
Intangible assets		1,476			1,626			1,776			1,926			2,076
Deposits		2,937,193			2,806,344			2,774,364			2,741,712			2,707,413
Subordinated debentures		131,256			131,236			131,216			131,197			131,178
Common shareholders' equity		295,837			286,052			277,811			273,536			269,969
Interest-earning assets		3,309,804			3,325,368			3,229,226			3,230,664			3,171,849
Interest-bearing liabilities		1,896,216			1,956,402			1,879,671			1,872,033			1,883,026
LOANS
Commercial	$	1,196,088		$	1,218,723		$	1,181,185		$	1,175,379		$	1,173,950
Real estate - mortgage		1,098,983			1,053,867			1,009,682			1,016,268			918,191
Construction & land		170,594			184,620			208,701			201,281			229,284
Consumer		263,871			258,773			258,345			253,317			244,994
Other		97,569			97,720			58,975			52,960			54,634
Gross loans		2,827,105			2,813,703			2,716,888			2,699,205			2,621,053
Less allowance for loan losses		(33,529)			(34,344)			(35,285)			(40,686)			(34,899)
Total net loans	$	2,793,576		$	2,779,359		$	2,681,603		$	2,658,519		$	2,586,154
Gross loans - Colorado	$	1,868,582		$	1,867,772		$	1,822,739		$	1,845,292		$	1,798,543
Gross loans - Arizona	$	958,523		$	945,931		$	894,149		$	853,913		$	822,510
DEPOSITS AND CUSTOMER REPURCHASE AGREEMENTS
Money market	$	854,928		$	853,815		$	834,152		$	804,777		$	832,131
Interest-bearing demand		681,256			591,355			600,415			585,524			572,848
Savings		20,403			19,097			18,165			18,078			18,540
Certificates of deposits under $100		20,151			19,836			21,078			21,515			22,220
Certificates of deposits $100 and over		87,593			89,008			92,161			94,260			100,958
Reciprocal CDARS		46,316			49,210			36,816			37,223			32,969
Total interest-bearing deposits		1,710,647			1,622,321			1,602,787			1,561,377			1,579,666
Noninterest-bearing demand deposits		1,226,546			1,184,023			1,171,577			1,180,335			1,127,747
Total deposits		2,937,193			2,806,344			2,774,364			2,741,712			2,707,413
Customer repurchase agreements		52,114			37,908			39,141			47,459			62,182
Total deposits and customer repurchase agreements	$	2,989,307		$	2,844,252		$	2,813,505		$	2,789,171		$	2,769,595
BALANCE SHEET AVERAGES
Average assets	$	3,456,974		$	3,394,960		$	3,351,087		$	3,298,242		$	3,181,097
Average investments		462,766			487,309			507,797			512,638			513,469
Average loans		2,822,334			2,777,790			2,701,483			2,651,689			2,539,774
Average deposits		2,909,307			2,801,499			2,708,483			2,738,796			2,631,887
Average subordinated debentures		131,245			131,225			131,206			131,187			131,167
Average shareholders' equity		290,973			281,617			275,863			274,196			282,686
Average interest-earning assets		3,322,596			3,286,863			3,228,872			3,183,463			3,080,460
Average interest-bearing liabilities		1,869,875			1,883,198			1,891,527			1,835,549			1,804,693
ALLOWANCE FOR LOAN AND CREDIT LOSSES
Beginning allowance for loan losses	$	34,344		$	35,285		$	40,686		$	34,899		$	33,832
Provision for loan losses		(1,168)			(1,652)			370			5,390			762
Net recovery (charge-off)		353			711			(5,771)			397			305
Ending allowance for loan losses	$	33,529		$	34,344		$	35,285		$	40,686		$	34,899
CREDIT QUALITY
Nonperforming loans
Nonaccrual loans	$	5,046		$	5,994		$	8,244		$	15,717		$	4,881
Loans 90 days or more past due and accruing interest		-			-			-			505			-
Total nonperforming loans		5,046			5,994			8,244			16,222			4,881
OREO and repossessed assets		5,079			5,079			5,079			5,079			5,481
Total nonperforming assets	$	10,125		$	11,073		$	13,323		$	21,301		$	10,362
Performing renegotiated loans	$	25,291		$	27,240		$	26,523		$	28,196		$	29,567
Classified loans	$	58,376		$	58,163		$	60,700		$	51,078		$	41,190
ASSET QUALITY MEASURES
Nonperforming assets to total assets		0.29	%		0.32	%		0.40	%		0.64	%		0.31	%
Nonperforming loans to total loans		0.18	%		0.21	%		0.30	%		0.60	%		0.19	%
Nonperforming loans and OREO to total loans and OREO		0.36	%		0.39	%		0.49	%		0.79	%		0.39	%
Allowance for loan and credit losses to total loans		1.19	%		1.22	%		1.30	%		1.51	%		1.33	%
Allowance for loan and credit losses to nonperforming loans		664.47	%		572.97	%		428.01	%		250.81	%		715.00	%

10 | Page

CoBiz Financial Inc.

September 30, 2016

(unaudited)


	For the three months ended,
	September 30, 2016							June 30, 2016							September 30, 2015
				Interest		Average					Interest		Average					Interest		Average
	Average			earned		yield		Average			earned		yield		Average			earned		yield
(in thousands)	balance			or paid		or cost		balance			or paid		or cost		balance			or paid		or cost
Assets
Federal funds sold and other	$	37,496		$	50	0.52	%	$	21,764		$	25	0.45	%	$	27,217		$	17	0.24	%
Investment securities		462,766			3,224	2.79	%		487,309			3,364	2.76	%		513,469			3,540	2.76	%
Loans		2,822,334			30,877	4.28	%		2,777,790			29,985	4.27	%		2,539,774			28,162	4.34	%
Total interest-earning assets	$	3,322,596		$	34,151	4.03	%	$	3,286,863		$	33,374	4.02	%	$	3,080,460		$	31,719	4.04	%
Noninterest-earning assets		134,378							108,097							100,637
Total assets	$	3,456,974						$	3,394,960						$	3,181,097

Liabilities and Shareholders' Equity
Deposits
Money market	$	862,607		$	600	0.28	%	$	844,471		$	567	0.27	%	$	798,098		$	546	0.27	%
Interest-bearing demand		606,481			241	0.16	%		565,028			216	0.15	%		575,977			193	0.13	%
Savings		19,621			2	0.04	%		17,920			2	0.04	%		19,047			3	0.06	%
Certificates of deposit
Reciprocal		48,257			24	0.20	%		44,945			21	0.19	%		37,333			19	0.20	%
Under $100		20,559			19	0.37	%		21,094			20	0.38	%		22,401			22	0.39	%
$100 and over		86,621			110	0.51	%		90,280			113	0.50	%		103,636			133	0.51	%
Total interest-bearing deposits	$	1,644,146		$	996	0.24	%	$	1,583,738		$	939	0.24	%	$	1,556,492		$	916	0.23	%
Other borrowings
Securities sold under agreements to repurchase		57,400			9	0.06	%		34,754			5	0.06	%		60,687			9	0.06	%
Other short-term borrowings		37,084			51	0.54	%		133,481			183	0.54	%		56,347			37	0.26	%
Long-term debt		131,245			1,851	5.52	%		131,225			1,840	5.55	%		131,167			1,848	5.51	%
Total interest-bearing liabilities	$	1,869,875		$	2,907	0.61	%	$	1,883,198		$	2,967	0.63	%	$	1,804,693		$	2,810	0.61	%
Noninterest-bearing demand accounts		1,265,161							1,217,761							1,075,395
Total deposits and interest-bearing liabilities		3,135,036							3,100,959							2,880,088
Other noninterest-bearing liabilities		30,965							12,384							18,323
Total liabilities		3,166,001							3,113,343							2,898,411
Total equity		290,973							281,617							282,686
Total liabilities and equity	$	3,456,974						$	3,394,960						$	3,181,097
Net interest income - taxable equivalent				$	31,244						$	30,407						$	28,909
Net interest spread						3.42	%						3.39	%						3.43	%
Net interest margin						3.74	%						3.72	%						3.72	%
Ratio of average interest-earning assets to average interest-bearing liabilities		177.69	%						174.54	%						170.69	%

11 | Page

CoBiz Financial Inc.

September 30, 2016

(unaudited)


	For the nine months ended September 30,
	2016							2015
				Interest		Average					Interest		Average
	Average			earned		yield		Average			earned		yield
(in thousands)	balance			or paid		or cost		balance			or paid		or cost
Assets
Federal funds sold and other	$	26,325		$	102	0.51	%	$	25,524		$	44	0.23	%
Investment securities		485,872			10,178	2.79	%		494,697			10,417	2.81	%
Loans		2,767,404			90,157	4.28	%		2,472,634			83,773	4.47	%
Total interest-earning assets	$	3,279,601		$	100,437	4.03	%	$	2,992,855		$	94,234	4.16	%
Noninterest-earning assets		121,610							106,265
Total assets	$	3,401,211						$	3,099,120

Liabilities and Shareholders' Equity
Deposits
Money market	$	837,884		$	1,710	0.27	%	$	740,002		$	1,549	0.28	%
Interest-bearing demand		582,282			663	0.15	%		586,461			587	0.13	%
Savings		18,517			7	0.05	%		17,768			7	0.05	%
Certificates of deposit
Reciprocal		43,423			60	0.18	%		48,689			84	0.23	%
Under $100		20,919			59	0.38	%		23,044			69	0.40	%
$100 and over		90,533			341	0.50	%		110,927			426	0.51	%
Total interest-bearing deposits	$	1,593,558		$	2,840	0.24	%	$	1,526,891		$	2,722	0.24	%
Other borrowings
Securities sold under agreements to repurchase		46,297			21	0.06	%		59,029			28	0.06	%
Other short-term borrowings		110,411			449	0.53	%		54,766			107	0.26	%
Long term-debt		131,226			5,530	5.54	%		93,346			3,888	5.49	%
Total interest-bearing liabilities	$	1,881,492		$	8,840	0.62	%	$	1,734,032		$	6,745	0.52	%
Noninterest-bearing demand accounts		1,213,248							1,045,603
Total deposits and interest-bearing liabilities		3,094,740							2,779,635
Other noninterest-bearing liabilities		23,624							14,559
Total liabilities		3,118,364							2,794,194
Total equity		282,847							304,926
Total liabilities and equity	$	3,401,211						$	3,099,120
Net interest income - taxable equivalent				$	91,597						$	87,489
Net interest spread						3.41	%						3.64	%
Net interest margin						3.73	%						3.91	%
Ratio of average interest-earning assets to average interest-bearing liabilities		174.31	%						172.60	%

12 | Page

CoBiz Financial Inc.

September 30, 2016

(unaudited)

Reconciliation of Non-GAAP Measures to GAAP

(in thousands, except per share amounts)

The Company believes these non-GAAP measures are useful to obtain an understanding of the operating results of the Company’s core business and reflect the basis on which management internally reviews financial performance and capital adequacy. These non-GAAP measures are not a substitute for operating results determined in accordance with GAAP nor do they necessarily conform to non-GAAP performance measures that may be presented by other companies.

The following table includes non-GAAP financial measures related to tangible equity, tangible common equity and tangible assets. The table below has been adjusted to exclude intangible assets.


		At
		September 30,			June 30,			March 31,			December 31,			September 30,
		2016			2016			2016			2015			2015
	Shareholders' equity as reported - GAAP	$	295,837		$	286,052		$	277,811		$	273,536		$	269,969
	Intangible assets		(1,476)			(1,626)			(1,776)			(1,926)			(2,076)
A	Tangible common equity - non-GAAP	$	294,361		$	284,426		$	276,035		$	271,610		$	267,893

	Total assets as reported - GAAP	$	3,452,498		$	3,457,516		$	3,357,000		$	3,351,767		$	3,307,772
	Intangible assets		(1,476)			(1,626)			(1,776)			(1,926)			(2,076)
B	Total tangible assets - non-GAAP	$	3,451,022		$	3,455,890		$	3,355,224		$	3,349,841		$	3,305,696

C	Common shares outstanding	$	41,465		$	41,433		$	41,355		$	41,122		$	41,067
A / B	Tangible common equity to tangible assets - non-GAAP		8.53	%		8.23	%		8.23	%		8.11	%		8.10	%
A / C	Tangible book value per common share - non-GAAP	$	7.10		$	6.86		$	6.67		$	6.60		$	6.52

The following tables include non-GAAP financial measures used in the computation of the efficiency ratio and the ratio of noninterest income to taxable equivalent operating revenue. The efficiency ratio equals noninterest expense adjusted to exclude gains and losses on other real estate owned (OREO), other assets and investments, divided by the sum of tax equivalent net interest income and noninterest income. To calculate tax equivalent net interest income, the interest earned on tax exempt loans and investment securities has been adjusted to reflect the amount that would have been earned had these investments been subject to normal income taxation.


		Three months ended
		September 30,			June 30,			March 31,			December 31,			September 30,
	(in thousands)	2016			2016			2016			2015			2015
	Noninterest expense - GAAP	$	26,043		$	26,268			25,832			25,717			24,738
	Adjusted for:
	Net gain (loss) on securities, other assets and OREO		98			(7)			(3)			246			59
D	Adjusted noninterest expense - non-GAAP	$	26,141		$	26,261		$	25,829		$	25,963		$	24,797
	Net interest income - GAAP	$	29,401		$	28,533		$	28,229		$	28,236		$	27,367
E	Noninterest income - GAAP		9,286			7,812			7,688			7,985			7,424
	Operating revenue		38,687			36,345			35,917			36,221			34,791
	Taxable equivalent adjustment		1,843			1,874			1,717			1,673			1,542
F	Operating revenue - taxable equivalent - non-GAAP	$	40,530		$	38,219		$	37,634		$	37,894		$	36,333
D / F	Efficiency ratio - taxable equivalent - non-GAAP		64.50	%		68.71	%		68.63	%		68.51	%		68.25	%
E / F	Noninterest income as a percentage of taxable equivalent operating revenue - non-GAAP		22.91	%		20.44	%		20.43	%		21.07	%		20.43	%

13 | Page