INTERVEST BANCSHARES CORPORATION

ONE ROCKEFELLER PLAZA/NEW YORK, N.Y. 10020-2002

TEL: (212) 218-2800 / FAX: (212) 218-2808

NEWS FOR RELEASE UPON RECEIPT

(January 16, 2014)

INTERVEST BANCSHARES CORPORATION

Reports 2013 Fourth Quarter Earnings of $4.2 Million or $0.19 per share

and Full Year 2013 Earnings of $13.4 Million or $0.61 per share

Intervest Bancshares Corporation (IBC) (NASDAQ-GS: IBCA), parent company of Intervest National Bank (INB), today announced that its earnings for the fourth quarter of 2013 (Q4-13) increased 37% to $4.2 million, or $0.19 per share, from $3.1 million, or $0.14 per share, for the fourth quarter of 2012 (Q4-12). Net earnings for the full year 2013 increased 29% to $13.4 million, or $0.61 per share, from $10.4 million, or $0.48 per share, for 2012.

Since 1993, Intervest has been primarily engaged in commercial and multifamily real estate mortgage lending with an emphasis on cash flowing properties located on the East Coast of the U.S. Its lending operation is highly personalized and targeted to provide customized financing solutions for real estate acquisitions and operations. Intervest does not make construction or land development loans or single family home loans.

Financial Operating Highlights

Financial Condition Highlights

The $0.4 million increase in quarterly net interest income was due to an improved net interest margin. The margin increased to 2.57% in Q4-13 from 2.47% in Q4-12, primarily due to a $98 million increase in net interest-earning assets (primarily from the deployment of cash on hand into new loans) and a 2 basis point increase in our interest rate spread. The higher spread reflected lower rates paid on deposits and the run-off of higher-cost CDs and borrowings, largely offset by payoffs of higher yielding loans and calls of security investments, coupled with the re-investment of a large portion of these cash inflows into new loans and securities at significantly lower market interest rates. Total average interest-earning assets in Q4-13 decreased slightly or by $0.8 million from Q4-12, reflecting a $21.5 million decrease in total securities and overnight investments, mostly offset by a $20.7 million increase in loans. At the same time, average deposits and borrowed funds decreased by $97 million and $2 million, respectively, while average stockholders’ equity decreased by $16 million (due to the repurchase of preferred stock). Overall, our average cost of funds decreased by 46 basis points to 1.76% in Q4-13 from 2.22% in Q4-12, while our average yield on earning assets decreased by 44 basis points to 4.10% in Q4-13 from 4.54% in Q4-12.

The $2.7 million decrease in year over year net interest income was due to a smaller average balance sheet, partially offset by a higher net interest margin. In 2013, total average interest-earning assets decreased by $187 million from 2012 (reflecting decreases of $57 million in loans and $130 million in total securities and overnight investments) while average deposits and borrowed funds decreased by $223 million and $9 million, respectively. The net interest margin improved to 2.39% in 2013 from 2.29% in 2012, reflecting a 6 basis point improvement in our interest rate spread and a $44 million increase in net interest-earning assets. Overall, our average cost of funds decreased by 40 basis points to 2.00% in 2013 from 2.40% in 2012, while our average yield on earning assets decreased by 34 basis points to 4.17% in 2013 from 4.51% in 2012. The reasons for the changes in the average yield and cost of funds were the same as those for the quarterly variance.

The $60 million decrease in securities held to maturity was due to calls exceeding new purchases. At December 31, 2013, the HTM portfolio represented 24.5% of our total assets and was comprised of U.S. government agency debt ($306 million) and residential mortgage-backed pass-through securities ($78 million). The entire portfolio had a weighted-average expected yield, remaining life and contractual maturity of 1.11%, 3.3 years and 6.0 years, respectively. In December 2013, in advance of the requirements of the “Volcker Rule” of the Dodd-Frank Act, INB transferred to available for sale and subsequently sold all (or $2.6 million in carrying value) of its investments in corporate TRUPs (which were non-investment grade and other than temporarily impaired by varying degrees since 2008) for a net gain on sale of $1.5 million.

The $20 million increase in loans receivable reflected $302.7 million of new loans and $2.2 million of recoveries of prior charge offs, largely offset by $243.8 million of payoffs, $35.7 million of amortization, $1.9 million of chargeoffs and a $3.0 million transfer to REO. New originations were comprised of $204 million of commercial real estate loans, $59 million of multifamily loans and $36 million of loans secured by investor owned 1-4 family condominiums. New loans in 2013 had a weighted-average rate, term and loan-to-value ratio of 4.53%, 6.8 years and 60%, respectively, compared to 4.87%, 5.8 years and 56%, respectively, for new loans in 2012. Nearly all of the new loans in both periods had fixed interest rates. Loans paid off in 2013 and 2012 had a weighted-average rate of 5.85% and 6.15%, respectively. At December 31, 2013, the loan portfolio was comprised of 75% of loans secured by commercial real estate, 19% secured by multifamily properties and 6% by investor owned 1-4 family condominiums.

The $80 million decrease in deposits reflected a $55 million net decrease in CD accounts, of which $38 million were brokered CDs, and a $28 million decrease in money market accounts. At December 31, 2013, we had $91 million of brokered CDs outstanding with a weighted-average rate of 3.01%, of which $23 million (with a weighted-average rate of 4.76%) mature within one year.

As previously reported, in June 2013, IBC repurchased 6,250 shares of its Series A Preferred Stock (Preferred Stock) from the U.S. Treasury for $6.1 million, plus an additional $1.2 million in accrued and unpaid dividends, for a total of $7.3 million. In August 2013, IBC redeemed the remaining 18,750 shares of Preferred Stock (which were purchased from the U.S.Treasury by unrelated third parties) for the stated liquidation value of $1,000 per share. The total cost of redeeming these shares was $22.6 million, which included $3.9 million in accrued and unpaid dividends. All shares of Preferred Stock were cancelled and IBC no longer had any preferred stockholders as of August 31, 2013. The U.S. Treasury continues to hold a warrant to purchase 691,882 shares of IBC’s common stock at an exercise price of $5.42 per share.

For further information, contact: Lowell S. Dansker, Chairman; Phone 212-218-2800 Fax 212-218-2808

Intervest Bancshares Corporation (IBC) is a bank holding company. Its operating subsidiary is Intervest National Bank (INB), a nationally chartered commercial bank that has its headquarters and full-service banking office at One Rockefeller Plaza, in New York City, and a total of six full-service banking offices in Clearwater and Gulfport, Florida. IBC’s Common Stock is listed on the NASDAQ Global Select Market: Trading Symbol IBCA. This release may contain forward-looking information. Words such as “may,” “will,” “could,” “should,” “would,” “believe,” “anticipate,” “estimate,” “expect,” “intend,” “plan,” “project,” “assume,” “indicate,” “continue,” “target,” “goal,” and similar words or expressions of the future are intended to identify forward-looking statements. Except for historical information, the matters discussed herein are subject to certain risks and uncertainties that may adversely affect our business, financial condition and results of operations. The following factors, among others, could cause actual results to differ materially from those set forth in forward looking statements: the regulatory agreement to which IBC is subject and any operating restrictions arising therefrom including availability of regulatory approvals or waivers; changes in economic conditions and real estate values both nationally and in our market areas; changes in our borrowing facilities, volume of loan originations and deposit flows; changes in the levels of our non-interest income and provisions for loan and real estate losses; changes in the composition and credit quality of our loan portfolio; legislative or regulatory changes, including increased expenses arising therefrom; changes in interest rates which may reduce our net interest margin and net interest income; increases in competition; technological changes which we may not be able to implement; changes in accounting or regulatory principles, policies or guidelines; changes in tax laws and our ability to utilize our deferred tax asset, including NOL and AMT carryforwards; and our ability to attract and retain key members of management. Reference is made to IBC’s filings with the SEC for further discussion of risks and uncertainties regarding our business. Forward looking statements speak only as of the date they are made. We undertake no obligation to publicly update or revise forward looking information, whether as a result of new, updated information, future events, or otherwise. Historical results are not necessarily indicative of our future prospects.

Selected Consolidated Financial Information Follows.

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INTERVEST BANCSHARES CORPORATION

Selected Consolidated Financial Information

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INTERVEST BANCSHARES CORPORATION

Consolidated Financial Highlights

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