# First Citizens BancShares (FCNCA) 8-K SEC filing - Filed: Jul 23, 2026, 6:32 AM EDT - Accession: 0000798941-26-000027 - OpenCapital page: https://www.opencapital.sh/filings/0000798941-26-000027 - Markdown URL: https://www.opencapital.sh/filings/0000798941-26-000027.md - Official SEC filing index: https://www.sec.gov/Archives/edgar/data/798941/000079894126000027/0000798941-26-000027-index.htm ## Filing documents - [8-K (fcnca-20260723.htm)](https://www.sec.gov/Archives/edgar/data/798941/000079894126000027/fcnca-20260723.htm) - [EX-99.1 (ex_991earningsrelease-2q20.htm)](https://www.sec.gov/Archives/edgar/data/798941/000079894126000027/ex_991earningsrelease-2q20.htm) - [EX-99.2 (a2q26investorpresentatio.htm)](https://www.sec.gov/Archives/edgar/data/798941/000079894126000027/a2q26investorpresentatio.htm) - [EX-99.3 (ex_993financialsupplement-.htm)](https://www.sec.gov/Archives/edgar/data/798941/000079894126000027/ex_993financialsupplement-.htm) --- ## 8-K SEC source: [fcnca-20260723.htm](https://www.sec.gov/Archives/edgar/data/798941/000079894126000027/fcnca-20260723.htm) ### 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 (Date of earliest event reported): July 23, 2026 ### First Citizens BancShares, Inc. (Exact name of registrant as specified in its charter) | | | | | --- | --- | --- | | Delaware | 001-16715 | 56-1528994 | | (State or other jurisdictionof incorporation) | (Commission File Number) | (IRS Employer Identification No.) | | | | | --- | --- | | North Carolina | 27609 | | (Address of principal executive offices) | (Zip Code) | Registrant’s telephone number, including area code: (919) 716-7000 (Former name or former address, if changed since last report) 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)) ### Securities Registered Pursuant to Section 12(b) of the Securities Exchange Act of 1934: Title of each class Trading Symbol Name of each exchange on which registered Class A Common Stock, Par Value $1 FCNCA Nasdaq Global Select Market Depositary Shares, Each Representing a 1/40th Interest in a Share of 5.375% Non-Cumulative Perpetual Preferred Stock, Series A FCNCP Nasdaq Global Select Market 5.625% Non-Cumulative Perpetual Preferred Stock, Series C FCNCO Nasdaq Global Select Market Depository Shares, Each Representing 1/40th Interest in a Share of 6.625% Non-Cumulative Perpetual Preferred Stock, Series E FCNCN Nasdaq Global Select Market 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 ☐ 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 23, 2026, First Citizens BancShares, Inc. (“BancShares”) announced its results of operations for the quarter ended June 30, 2026. Copies of BancShares’ press release and financial supplement containing this information are included with this Current Report on Form 8-K (this “Report”) as Exhibit 99.1 and Exhibit 99.3, respectively, and are incorporated into this Item 2.02 by reference. The press release and financial supplement are available on BancShares’ internet site at http://www.ir.firstcitizens.com. ## Item 7.01. Regulation FD Disclosure. As previously announced, BancShares will host a conference call at 9 a.m. Eastern time on Thursday, July 23, 2026, to discuss its financial results for the quarter ended June 30, 2026. The slides that will be made available in connection with the presentation are included with this Report as Exhibit 99.2 hereto and incorporated into this Item 7.01 by reference. In accordance with General Instruction B.2 of Form 8-K, the information presented herein pursuant to Item 2.02, “Results of Operations and Financial Condition” and Item 7.01, “Regulation FD Disclosure,” including Exhibits 99.1, 99.2 and 99.3, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liability of that section, nor shall the information be deemed incorporated by reference in any filing under the Exchange Act or the Securities Act of 1933, as amended, regardless of any general incorporation language in such filing, except as expressly set forth by specific reference in such filing. ## Item 9.01. Financial Statements and Exhibits.     (d) Exhibits. The following exhibits accompany this Report. | Exhibit No. | Description | | --- | --- | | 99.1 | Earnings Release Second Quarter 2026 | | 99.2 | Investor Presentation Second Quarter 2026 | | 99.3 | Financial Supplement Second Quarter 2026 | | 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | ### Disclosures About Forward-Looking Statements This Report contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 regarding the financial condition, results of operations, business plans, asset quality, future performance, and other strategic goals of BancShares. Words such as “anticipates,” “believes,” “estimates,” “expects,” “predicts,” “forecasts,” “intends,” “plans,” “projects,” “targets,” “designed,” “could,” “may,” “should,” “will,” “potential,” “continue,” “aims” or other similar words and expressions are intended to identify these forward-looking statements. These forward-looking statements are based on BancShares’ current expectations and assumptions regarding BancShares’ business, the economy, and other future conditions. Because forward-looking statements relate to future results and occurrences, they are subject to inherent risks, uncertainties, changes in circumstances and other factors that are difficult to predict. Many possible events or factors could affect BancShares’ future financial results and performance and could cause actual results, performance or achievements of BancShares to differ materially from any anticipated results expressed or implied by such forward-looking statements. Such risks and uncertainties include, among others, general competitive, economic (including the imposition of tariffs, retaliatory tariff measures, trade barriers on trading partners, and supply chain disruptions), political (including impacts of any U.S. government shutdown), geopolitical events (including conflicts or developments in Ukraine, the Middle East and Latin America), natural disasters and market conditions, including changes in competitive pressures among financial institutions and the impacts related to or resulting from previous bank failures, the risks and impacts of future bank failures and other volatility in the banking industry, public perceptions of our business practices, including our deposit pricing and acquisition activity, the financial success or changing conditions or strategies of BancShares’ vendors or customers, including changes in demand for deposits, loans and other financial services, fluctuations in interest rates, changes in the quality or composition of BancShares’ loan or investment portfolio, actions of government regulators, including interest rate decisions by the Board of Governors of the Federal Reserve Board (the “Federal Reserve”), changes to estimates of future costs and benefits of actions taken by BancShares, BancShares’ ability to maintain adequate sources of funding and liquidity, the potential impact of decisions by the Federal Reserve on BancShares’ capital plans, adverse developments with respect to U.S. or global economic conditions, including significant turbulence in the capital or financial markets, the impact of any sustained or elevated inflationary environment, the impact of any cyberattack, information or security breach, the effect of technological change, including artificial intelligence and digital assets, the impact of implementation and compliance with current or proposed laws, regulations and regulatory interpretations, including potential increased regulatory requirements, limitations, and costs, such as FDIC special assessments, increases to FDIC deposit insurance premiums, changes in regulatory capital requirements, or limitations on credit card interest rates, along with the risk that such laws, regulations and regulatory interpretations may change, the availability of capital and personnel, changes or enhancements BancShares implements with respect to risk management, technology, personnel, financial service offerings, or other areas, and the risks associated with BancShares’ previously completed acquisition transactions, the pending acquisition of 138 branches from BMO Bank N.A., or any future transactions. Except to the extent required by applicable laws or regulations, BancShares disclaims any obligation to update forward-looking statements or to publicly announce the results of any revisions to any of the forward-looking statements included herein to reflect future events or developments. Additional factors which could affect the forward-looking statements can be found in BancShares’ Annual Report on Form 10-K for the fiscal year ended December 31, 2025 and its other filings with the Securities and Exchange Commission. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. First Citizens BancShares, Inc. (Registrant) Date: July 23, 2026 By: /s/ Craig L. Nix Craig L. Nix Chief Financial Officer --- ## EX-99.1 SEC source: [ex_991earningsrelease-2q20.htm](https://www.sec.gov/Archives/edgar/data/798941/000079894126000027/ex_991earningsrelease-2q20.htm) **NEWS RELEASE** | Deanna Hart / Investor Relations | Angela English / Corporate Communications | | --- | --- | | 919-716-2137 | 803-931-1854 | ### FIRST CITIZENS BANCSHARES REPORTS SECOND QUARTER 2026 EARNINGS RALEIGH, N.C. -- First Citizens BancShares, Inc. (“BancShares”) (Nasdaq: FCNCA) reported earnings for the second quarter of 2026. Chairman and CEO Frank B. Holding, Jr. said: “Solid return metrics during the second quarter continued to support our strong capital and liquidity positions, driven by balanced loan and deposit growth, resilient credit quality, and disciplined expense management. Return metrics surpassed both our expectations and first quarter results. We returned $600 million to our stockholders through share repurchases and further optimized our balance sheet by prepaying another $2.5 billion of the Purchase Money Note.” ### BMO BRANCH ACQUISITION On October 16, 2025, First-Citizens Bank & Trust Company (“First Citizens Bank”), the wholly owned banking subsidiary of BancShares, announced that it had entered into an agreement to acquire 138 branches from BMO Bank N.A. (“BMO Bank”) located throughout the Midwest, Great Plains and West regions of the U.S. (the “BMO Branch Acquisition”). In connection with the BMO Branch Acquisition, First Citizens Bank expects to assume approximately $5.3 billion in deposits and acquire approximately $700 million in loans. BancShares expects the transaction to be completed during the third quarter of 2026. ### FINANCIAL HIGHLIGHTS Measures referenced below “as adjusted” or “excluding PAA” (or purchase accounting accretion) are non-GAAP financial measures. Refer to the Financial Supplement available at ir.firstcitizens.com or www.sec.gov for a reconciliation of each non-GAAP measure to the most directly comparable GAAP measure. Net income for the second quarter of 2026 (“current quarter”) was $672 million, compared to $534 million for the first quarter of 2026 (“linked quarter”). Net income available to common stockholders for the current quarter was $640 million, or $55.52 per common share, a $132 million increase from $508 million, or $42.63 per common share, in the linked quarter. Adjusted net income for the current quarter was $691 million, compared to $560 million for the linked quarter. Adjusted net income available to common stockholders was $659 million, or $57.09 per common share, a $125 million increase from $534 million, or $44.86 per common share, in the linked quarter. ### NET INTEREST INCOME AND MARGIN - Net interest income was $1.66 billion for the current quarter, an increase of $35 million from the linked quarter. Net interest income, excluding PAA, was $1.61 billion, an increase of $26 million from the linked quarter. - Interest income on loans increased $47 million, mainly due to a higher yield, a higher average balance, and a $7 million increase in loan PAA. - Interest expense on borrowings decreased $18 million, mainly due to a decline in the average balance as we repaid an additional $2.5 billion of the Purchase Money Note. - Interest income on investment securities increased $17 million due to a higher yield and a higher average balance. - Interest expense on interest-bearing deposits increased $48 million due to a higher average balance and a higher rate paid. - Net interest margin (“NIM”) was 3.10% for the current quarter, an increase of 1 basis point from the linked quarter. NIM, excluding PAA, was 3.01% in both the current and linked quarters. - The yield on average interest-earning assets was 5.34%, an increase of 4 basis points from the linked quarter, mainly due to higher yields on and average balances of loans and investment securities. - The rate paid on average interest-bearing liabilities was 2.95%, an increase of 2 basis points from the linked quarter, primarily due to increases in the average balance of and rate paid on interest-bearing deposits, partially offset by the impact of a lower average balance of borrowings. ### NONINTEREST INCOME AND EXPENSE - Noninterest income was $776 million, compared to $692 million in the linked quarter, an increase of $84 million. Adjusted noninterest income was $586 million, an increase of $66 million from the linked quarter. - The increases in noninterest income and adjusted noninterest income were primarily due to the following: - Other noninterest income increased $50 million, mainly attributable to a $27 million increase in the fair value of derivatives and a $17 million gain on sale of tax credit investments. - Client investment fees increased $6 million due to higher volume and average balances. - Lending-related fees increased $4 million, largely due to line of credit fees. - Deposit fees and service charges increased $4 million, largely attributable to overdraft fees. - Additionally, the fair value adjustment on marketable equity securities increased $12 million compared to the linked quarter. - Noninterest expense was $1.55 billion, an increase of $15 million from the linked quarter. Adjusted noninterest expense was $1.35 billion, an increase of $16 million from the linked quarter. The increases in noninterest expense and adjusted noninterest expense were primarily due to the following: - Marketing expense increased $15 million, mostly due to marketing promotions for Direct Bank deposits. - Other noninterest expense increased $8 million, largely driven by the timing of charitable contributions. - Third-party processing fees and equipment expense increased $7 million and $5 million, respectively, as we continue to invest in our digital infrastructure, data center modernization, and client-facing capabilities. - The increases above were partially offset by declines in personnel cost and adjusted personnel cost of $25 million and $21 million, respectively, largely driven by lower incentive compensation and seasonal declines as employees reach annual benefit limits, partially offset by merit increases, one additional payroll day, and higher health insurance claims. - The remaining net increase in noninterest expense and adjusted noninterest expense was spread amongst various noninterest expense line items. ### BALANCE SHEET SUMMARY - Loans and leases were $151.03 billion at June 30, 2026, an increase of $2.34 billion or 1.6% compared to $148.69 billion at March 31, 2026, primarily due to loan growth of $2.37 billion in the Commercial Bank segment, mainly concentrated in Global Fund Banking. - Total investment securities were $43.56 billion at June 30, 2026, an increase of $571 million since March 31, 2026. Purchases during the current quarter remained concentrated in available for sale U.S. treasury and agency mortgage-backed securities. - Deposits were $173.43 billion at June 30, 2026, an increase of $2.59 billion or 1.5% since March 31, 2026, primarily attributable to growth in Corporate deposits of $4.28 billion, which includes Direct Bank and brokered deposits. Deposit growth was partially offset by a decline of $1.50 billion in Commercial Bank segment deposits. - Noninterest-bearing deposits decreased by $1.13 billion (2.6% from the linked quarter) and represented 24.5% of total deposits as of June 30, 2026, compared to 25.5% at March 31, 2026. The cost of average total deposits was 2.07% for the current quarter, compared to 2.04% for the linked quarter. - Borrowings were $32.19 billion at June 30, 2026, a decrease of $1.77 billion compared to $33.96 billion at March 31, 2026, mainly due to a $2.50 billion prepayment of the Purchase Money Note, partially offset by the issuance of $750 million of senior notes during the current quarter. - The Purchase Money Note declined from $35.85 billion at September 30, 2025 to $28.42 billion at June 30, 2026. - Funding mix improved as deposits represented 84.3% of total funding at June 30, 2026 compared to 83.4% at March 31, 2026. - Interest-earning deposits at banks were $21.13 billion at June 30, 2026, a decrease of $2.06 billion compared to $23.19 billion at March 31, 2026, a function of the balance sheet trends discussed above. PROVISION FOR CREDIT LOSSES AND CREDIT QUALITY - Benefit for credit losses was $10 million for the current quarter, compared to a provision for credit losses of $72 million for the linked quarter. The current quarter included a provision for loan and lease losses of $34 million that was more than offset by a benefit for off-balance sheet credit exposure of $44 million. - The provision for loan and lease losses for the current quarter was $34 million, compared to $103 million for the linked quarter. The $69 million decrease was mainly attributable to the impact of a $74 million reserve release in the current quarter compared to an $8 million reserve release in the linked quarter, partially offset by a decline of $3 million in net charge-offs. - The $74 million reserve release in the current quarter was largely driven by lower specific reserves, improvements in credit quality including updates to certain models used to estimate the allowance, changes in the macroeconomic scenarios, and growth concentrated in capital call lines which have a significantly lower loss rate relative to our other loan portfolios. - The $8 million reserve release in the linked quarter was driven by loan growth concentrated in capital call lines and changes in the macroeconomic scenarios, partially offset by higher reserves for individually evaluated loans. - The benefit for off-balance sheet credit exposure was $44 million, an increase of $12 million from $32 million for the linked quarter, primarily due to the same drivers discussed above for the provision for loan and lease losses. - Net charge-offs were $108 million (0.29% of average loans) for the current quarter, compared to $111 million (0.30% of average loans) for the linked quarter. - Nonaccrual loans were $1.45 billion (0.96% of loans) at June 30, 2026, compared to $1.43 billion (0.96% of loans) at March 31, 2026. - The allowance for loan and lease losses totaled $1.48 billion at June 30, 2026, compared to $1.56 billion at March 31, 2026. The allowance for loan and lease losses as a percentage of loans was 0.98% at June 30, 2026, compared to 1.05% at March 31, 2026. ### CAPITAL AND LIQUIDITY - Capital ratios remained above regulatory requirements. The estimated total risk-based capital, Tier 1 risk-based capital, Common equity Tier 1 risk-based capital, and Tier 1 leverage ratios were 13.37%, 11.73%, 10.77%, and 9.22%, respectively, at June 30, 2026. - During the current quarter, we repurchased 298,907 shares of our Class A common stock for $600 million and paid a dividend of $2.10 per share on our Class A and Class B common stock. Shares repurchased during the current quarter represented 2.80% of Class A common shares and 2.56% of total Class A and Class B common shares outstanding at March 31, 2026. - From inception of the 2024 Share Repurchase Plan through June 30, 2026, we have repurchased 3,141,855 shares of our Class A common stock for $6.19 billion, representing 23.23% of Class A common shares and 21.62% of total Class A and Class B common shares outstanding as of June 30, 2024. - As of June 30, 2026, the total capacity remaining under the 2025 Share Repurchase Plan was $1.31 billion. - Liquidity position remains strong as liquid assets were $59.14 billion at June 30, 2026, compared to $60.72 billion at March 31, 2026. ### EARNINGS CALL/ WEBCAST DETAILS BancShares will host a conference call to discuss the company's financial results on Thursday, July 23, 2026, at 9 a.m. Eastern time. The call may be accessed via webcast on the company’s website at ir.firstcitizens.com. Our earnings release, investor presentation, and financial supplement are available at ir.firstcitizens.com. In addition, these materials will be furnished to the Securities and Exchange Commission (the “SEC”) on a Form 8-K and will be available on the SEC website at www.sec.gov. After the event, a replay of the call will be available via webcast at ir.firstcitizens.com. ### ABOUT FIRST CITIZENS BANCSHARES First Citizens BancShares, Inc. (Nasdaq: FCNCA), a top 20 U.S. financial institution with more than $225 billion in assets and a member of the Fortune 500TM, is the financial holding company for First-Citizens Bank & Trust Company (“First Citizens Bank”). Headquartered in Raleigh, N.C., First Citizens Bank has built a unique legacy of strength, stability and long-term thinking that has spanned generations. First Citizens offers an array of general banking services with branches and offices nationwide; commercial banking expertise delivering best-in-class lending, leasing and other financial services coast to coast; innovation banking serving businesses at every stage; and a nationwide direct bank. Discover more at firstcitizens.com. ### FORWARD-LOOKING STATEMENTS This communication contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 regarding the financial condition, results of operations, business plans, asset quality, future performance, and other strategic goals of BancShares. Words such as “anticipates,” “believes,” “estimates,” “expects,” “predicts,” “forecasts,” “intends,” “plans,” “projects,” “targets,” “designed,” “could,” “may,” “should,” “will,” “potential,” “continue,” “aims” or other similar words and expressions are intended to identify these forward-looking statements. These forward-looking statements are based on BancShares’ current expectations and assumptions regarding BancShares’ business, the economy, and other future conditions. Because forward-looking statements relate to future results and occurrences, they are subject to inherent risks, uncertainties, changes in circumstances and other factors that are difficult to predict. Many possible events or factors could affect BancShares’ future financial results and performance and could cause actual results, performance or achievements of BancShares to differ materially from any anticipated results expressed or implied by such forward-looking statements. Such risks and uncertainties include, among others, general competitive, economic (including the imposition of tariffs, retaliatory tariff measures, trade barriers on trading partners, and supply chain disruptions), political (including impacts of any U.S. government shutdown), geopolitical events (including conflicts or developments in Ukraine, the Middle East and Latin America), natural disasters and market conditions, including changes in competitive pressures among financial institutions and the impacts related to or resulting from previous bank failures, the risks and impacts of future bank failures and other volatility in the banking industry, public perceptions of our business practices, including our deposit pricing and acquisition activity, the financial success or changing conditions or strategies of BancShares’ vendors or customers, including changes in demand for deposits, loans and other financial services, fluctuations in interest rates, changes in the quality or composition of BancShares’ loan or investment portfolio, actions of government regulators, including interest rate decisions by the Board of Governors of the Federal Reserve Board (the “Federal Reserve”), changes to estimates of future costs and benefits of actions taken by BancShares, BancShares’ ability to maintain adequate sources of funding and liquidity, the potential impact of decisions by the Federal Reserve on BancShares’ capital plans, adverse developments with respect to U.S. or global economic conditions, including significant turbulence in the capital or financial markets, the impact of any sustained or elevated inflationary environment, the impact of any cyberattack, information or security breach, the effect of technological change, including artificial intelligence and digital assets, the impact of implementation and compliance with current or proposed laws, regulations and regulatory interpretations, including potential increased regulatory requirements, limitations, and costs, such as FDIC special assessments, increases to FDIC deposit insurance premiums, changes in regulatory capital requirements, or limitations on credit card interest rates, along with the risk that such laws, regulations and regulatory interpretations may change, the availability of capital and personnel, changes or enhancements BancShares implements with respect to risk management, technology, personnel, financial service offerings, or other areas, and the risks associated with BancShares’ previously completed acquisition transactions, the pending BMO Branch Acquisition, or any future transactions. BancShares’ 2025 Share Repurchase Plan announced in July 2025 (“2025 SRP”) allows BancShares to repurchase shares of its Class A common stock through 2026. BancShares is not obligated under the 2025 SRP to repurchase any minimum or particular number of shares, and repurchases may be suspended or discontinued at any time (subject to the terms of any Rule 10b5-1 plan in effect) without prior notice. The authorization to repurchase Class A common stock will be utilized at management’s discretion. The actual timing and amount of Class A common stock that may be repurchased under the 2025 SRP will depend on a number of factors, including the terms of any Rule 10b5-1 plan then in effect, price, general business and market conditions, regulatory requirements, and alternative investment opportunities or capital needs. Except to the extent required by applicable laws or regulations, BancShares disclaims any obligation to update forward-looking statements or to publicly announce the results of any revisions to any of the forward-looking statements included herein to reflect future events or developments. Additional factors which could affect the forward-looking statements can be found in BancShares’ Annual Report on Form 10-K for the fiscal year ended December 31, 2025 and its other filings with the SEC. ### NON-GAAP MEASURES Certain measures in this release, including those referenced as “adjusted” or “excluding PAA,” are “non-GAAP,” meaning they are numerical measures of BancShares’ financial performance, financial position or cash flows that are not presented in accordance with generally accepted accounting principles in the U.S. (“GAAP”) because they exclude or include amounts or are adjusted in some way so as to be different than the most direct comparable measures calculated and presented in accordance with GAAP in BancShares’ statements of income, balance sheets or statements of cash flows and also are not codified in U.S. banking regulations currently applicable to BancShares. BancShares management believes that non-GAAP financial measures, when reviewed in conjunction with GAAP financial information, can provide transparency about or an alternative means of assessing its operating results, financial position or cash flows to its investors, analysts and management. These non-GAAP measures should be considered in addition to, and not superior to or a substitute for, GAAP measures. Each non-GAAP measure is reconciled to the most comparable GAAP measure in the non-GAAP reconciliation. This information can be found in the Financial Supplement located in the Quarterly Results section of our website at https://ir.firstcitizens.com/financial-information/quarterly-results/default.aspx. --- ## EX-99.2 SEC source: [a2q26investorpresentatio.htm](https://www.sec.gov/Archives/edgar/data/798941/000079894126000027/a2q26investorpresentatio.htm) First Citizens BancShares, Inc. Second Quarter 2026 Earnings Conference Call July 23, 2026 2 Table of Contents Pages Section I – Second Quarter Overview & Strategic Priorities 4 – 6 Section II – Second Quarter 2026 Financial Results 7 – 26 Financial Highlights 8 – 9 Earnings Highlights 10 Net interest income, margin and betas 11 – 13 Noninterest income and expense 14 – 15 Balance Sheet Highlights 16 Loans and Leases 17 – 18 Deposits 19 – 20 SVB Commercial Funding Trends 21 Funding Mix 22 Credit Quality Trends and Allowance 23 – 24 Capital & Share Repurchase Plan Update 25 – 26 Section III – Financial Outlook 27 – 28 Section IV – Appendix 29 – 41 Section V – Non-GAAP Reconciliations 42 – 50 3 Forward Looking Statements This communication contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 regarding the financial condition, results of operations, business plans, asset quality, future performance, and other strategic goals of BancShares. Words such as “anticipates,” “believes,” “estimates,” “expects,” “predicts,” “forecasts,” “intends,” “plans,” “projects,” “targets,” “designed,” “could,” “may,” “should,” “will,” “potential,” “continue,” “aims” or other similar words and expressions are intended to identify these forward-looking statements. These forward-looking statements are based on BancShares’ current expectations and assumptions regarding BancShares’ business, the economy, and other future conditions. Because forward-looking statements relate to future results and occurrences, they are subject to inherent risks, uncertainties, changes in circumstances and other factors that are difficult to predict. Many possible events or factors could affect BancShares’ future financial results and performance and could cause actual results, performance or achievements of BancShares to differ materially from any anticipated results expressed or implied by such forward-looking statements. Such risks and uncertainties include, among others, general competitive, economic (including the imposition of tariffs, retaliatory tariff measures, trade barriers on trading partners, and supply chain disruptions), political (including impacts of any U.S. government shutdown), geopolitical events (including conflicts or developments in Ukraine, the Middle East and Latin America), natural disasters and market conditions, including changes in competitive pressures among financial institutions and the impacts related to or resulting from previous bank failures, the risks and impacts of future bank failures and other volatility in the banking industry, public perceptions of our business practices, including our deposit pricing and acquisition activity, the financial success or changing conditions or strategies of BancShares’ vendors or customers, including changes in demand for deposits, loans and other financial services, fluctuations in interest rates, changes in the quality or composition of BancShares’ loan or investment portfolio, actions of government regulators, including interest rate decisions by the Board of Governors of the Federal Reserve Board (the “Federal Reserve”), changes to estimates of future costs and benefits of actions taken by BancShares, BancShares’ ability to maintain adequate sources of funding and liquidity, the potential impact of decisions by the Federal Reserve on BancShares’ capital plans, adverse developments with respect to U.S. or global economic conditions, including significant turbulence in the capital or financial markets, the impact of any sustained or elevated inflationary environment, the impact of any cyberattack, information or security breach, the effect of technological change, including artificial intelligence and digital assets, the impact of implementation and compliance with current or proposed laws, regulations and regulatory interpretations, including potential increased regulatory requirements, limitations, and costs, such as FDIC special assessments, increases to FDIC deposit insurance premiums, changes in regulatory capital requirements, or limitations on credit card interest rates, along with the risk that such laws, regulations and regulatory interpretations may change, the availability of capital and personnel, changes or enhancements BancShares implements with respect to risk management, technology, personnel, financial service offerings, or other areas, and the risks associated with BancShares’ previously completed acquisition transactions, the pending acquisition of branches from BMO Bank N.A., or any future transactions. BancShares’ 2025 Share Repurchase Plan announced in July 2025 (“2025 SRP”) allows BancShares to repurchase shares of its Class A common stock through 2026. BancShares is not obligated under the 2025 SRP to repurchase any minimum or particular number of shares, and repurchases may be suspended or discontinued at any time (subject to the terms of any Rule 10b5-1 plan in effect) without prior notice. The authorization to repurchase Class A common stock will be utilized at management’s discretion. The actual timing and amount of Class A common stock that may be repurchased under the 2025 SRP will depend on a number of factors, including the terms of any Rule 10b5-1 plan then in effect, price, general business and market conditions, regulatory requirements, and alternative investment opportunities or capital needs. Except to the extent required by applicable laws or regulations, BancShares disclaims any obligation to update forward-looking statements or to publicly announce the results of any revisions to any of the forward-looking statements included herein to reflect future events or developments. Additional factors which could affect the forward-looking statements can be found in BancShares’ Annual Report on Form 10-K for the fiscal year ended December 31, 2025 and its other filings with the SEC. Non-GAAP Measures Certain measures in this presentation, including those referenced as “adjusted” or “excluding PAA,” are “non-GAAP,” meaning they are numerical measures of BancShares’ financial performance, financial position or cash flows that are not presented in accordance with generally accepted accounting principles in the U.S. (“GAAP”) because they exclude or include amounts or are adjusted in some way so as to be different than the most direct comparable measures calculated and presented in accordance with GAAP in BancShares’ statements of income, balance sheets or statements of cash flows and also are not codified in U.S. banking regulations currently applicable to BancShares. BancShares management believes that non-GAAP financial measures, when reviewed in conjunction with GAAP financial information, can provide transparency about or an alternative means of assessing its operating results, financial position or cash flows to its investors, analysts and management. These non-GAAP measures should be considered in addition to, and not superior to or a substitute for, GAAP measures. Each non-GAAP measure is reconciled to the most comparable GAAP measure in the non-GAAP reconciliation in Section V of this presentation. Certain financial results referenced as “Adjusted” in this presentation exclude notable items. The Adjusted financial measures are non-GAAP. Refer to Section V of this presentation for a reconciliation of Non-GAAP financial measures to the most directly comparable GAAP measure. Reclassifications See Section IV entitled Appendix for information on reclassifications. Important Notices Second Quarter Overview & Strategic Priorities Section I 5 Second Quarter 2026 Snapshot Key Highlights: - Strong financial results: - EPS, ROE and ROA results improved over the prior quarter and exceeded expectations. - Sequential expansion in EPS and return metrics driven by higher PPNR (1) and a credit-related reserve release. - Net revenue expansion outpaced expense growth, improving operating efficiency. - Strategic balance sheet management: - Balance sheet momentum continued with solid growth in both period end and average loan and deposit balances. - Accomplished off-balance sheet client funds growth on both a period end and average basis. - Continued progress on the FDIC Purchase Money Note, prepaying another $2.5 billion during the quarter. - Issued $750 million of senior bank notes in June. - Prudent capital management: - Repurchased $600 million in Class A common shares in the second quarter. Since plan inception in July 2024, we have repurchased $6.3 billion or 23.7% of Class A common shares. (3) Financial Results: Adjusted EPS (1) $57.09 Adjusted ROE / ROA (1) 12.94% / 1.18% NIM 3.10% Adjusted Efficiency Ratio (1) 60.05% Loan Growth (EOP / Avg) (2) 1.6% / 0.7% Deposit Growth (EOP / Avg) (2) 1.5% / 2.8% CET1 Ratio (4) 10.77% (1) Non-GAAP measure: see Section V entitled Non-GAAP Reconciliations. (2) Loan and deposit growth percentages are current quarter compared to the linked quarter. (3) Total repurchases include those since inception of the plan in July 2024 through July 21, 2026. Refer to Share Repurchase Plan Update page for additional details. (4) The CET1 ratio represents a BancShares ratio and is preliminary pending completion of quarterly regulatory filings. 6 Strategic Priorities - Expand and grow our capabilities and products while harnessing the scale of the enterprise and maintaining a client- first focus. Client Focus - Attract, retain and develop associates who align with our long-term direction and culture while scaling for continued growth. Talent & Culture - Optimize processes and systems to reduce organizational complexity and maximize productivity. Operational Efficiency - Manage our balance sheet prudently to optimize our funding and liquidity profile while driving core deposit growth and enhancing returns. Balance Sheet Optimization Risk Management Second Quarter 2026 Financial Results Section II 8 2Q26 Financial Results - Takeaways EPS, ROE and ROA improved over first quarter results and exceeded our expectations.1 Returned $600 million in capital to shareholders through the repurchase of Class A common stock. 8 Prepaid an additional $2.5 billion of the FDIC Purchase Money Note. 7 NII and NIM remained resilient, successfully offsetting higher interest-bearing deposit balances and rates. 2 Expense growth was muted, driving results to the low end of our guidance range.3 Credit quality remained resilient, as the NCO ratio improved by 1 basis point sequentially, outperforming our guidance range. 6 Loans grew $2.3 billion or by 1.6% over the linked quarter, led by Global Fund Banking. 4 Deposits increased $2.6 billion or by 1.5% over the linked quarter driven primarily by growth in the Direct Bank, supplemented by brokered deposits. 5 9 2Q26 1Q26 2Q25 EPS (basic and diluted) $ 55.52 $ 57.09 $ 42.63 $ 44.86 $ 42.36 $ 44.78 ROE 12.58 % 12.94 % 9.88 % 10.39 % 10.41 % 11.00 % ROTCE (non-GAAP) 12.92 13.28 10.14 10.67 10.69 11.30 ROA 1.15 1.18 0.93 0.97 1.01 1.07 PPNR ROA (non-GAAP) 1.50 1.53 1.35 1.41 1.54 1.64 NIM 3.10 3.10 3.09 3.09 3.26 3.26 NIM, ex PAA (non-GAAP) 3.01 3.01 3.01 3.01 3.14 3.14 NCO ratio 0.29 0.29 0.30 0.30 0.33 0.33 Efficiency ratio 63.75 60.05 66.41 62.13 63.22 57.92 Reported Adjusted (Non-GAAP) Reported Adjusted (Non-GAAP) Reported Adjusted (Non-GAAP) Financial Highlights Note – Adjusted columns, ROTCE, PPNR ROA and NIM, ex PAA represent non-GAAP measures: see Section V entitled Non-GAAP Reconciliations. 10 Reported Increase (decrease) 2Q26 vs 1Q26 (1) 2Q26 vs 2Q25 (1) 2Q26 1Q26 2Q25 $ % $ % Net interest income $ 1,656 $ 1,621 $ 1,695 $ 35 2.2 % $ (39) (2.3) % Noninterest income 776 692 678 84 12.1 98 14.5 Net revenue 2,432 2,313 2,373 119 5.1 59 2.5 Noninterest expense 1,551 1,536 1,500 15 0.9 51 3.3 Pre-provision net revenue (2) 881 777 873 104 13.4 8 1.0 (Benefit) provision for credit losses (10) 72 115 (82) (113.9) (125) (108.7) Income before income taxes 891 705 758 186 26.4 133 17.6 Income tax expense 219 171 183 48 27.6 36 19.6 Net income 672 534 575 138 26.1 97 17.0 Preferred stock dividends 32 26 14 6 27.2 18 123.2 Net income available to common stockholders $ 640 $ 508 $ 561 $ 132 26.0 % $ 79 14.2 % Adjustments for notable items 2Q26 1Q26 2Q25 Noninterest income $ (190) $ (172) $ (165) Noninterest expense (205) (206) (221) Income tax expense (4) 8 24 Adjusted (Non-GAAP) (2) Increase (decrease) 2Q26 vs 1Q26 (1) 2Q26 vs 2Q25 (1) 2Q26 1Q26 2Q25 $ % $ % Net interest income $ 1,656 $ 1,621 $ 1,695 $ 35 2.2 % $ (39) (2.3) % Noninterest income 586 520 513 66 13.0 73 14.4 Net revenue 2,242 2,141 2,208 101 4.7 34 1.5 Noninterest expense 1,346 1,330 1,279 16 1.3 67 5.3 Pre-provision net revenue (2) 896 811 929 85 10.5 (33) (3.6) (Benefit) provision for credit losses (10) 72 115 (82) (113.9) (125) (108.7) Income before income taxes 906 739 814 167 22.6 92 11.2 Income tax expense 215 179 207 36 20.6 8 3.8 Net income 691 560 607 131 23.3 84 13.8 Preferred stock dividends 32 26 14 6 27.2 18 123.2 Net income available to common stockholders $ 659 $ 534 $ 593 $ 125 23.1 % $ 66 11.1 % Quarterly Earnings Highlights ($ in millions) (1) Percent change is calculated using unrounded numbers and therefore may not recalculate precisely using the displayed rounded amounts. (2) Non-GAAP measure: see Section V entitled Non-GAAP Reconciliations. 11 $1,629 $1,673 $1,673 $1,582 $1,608 3.14% 3.15% 3.11% 3.01% 3.01% NII, ex PAA (Non-GAAP) NIM, ex PAA (Non-GAAP) 2Q25 3Q25 4Q25 1Q26 2Q26 $1,695 $1,734 $1,722 $1,621 $1,656 3.26% 3.26% 3.20% 3.09% 3.10% NII NIM 2Q25 3Q25 4Q25 1Q26 2Q26 $35 million & 1 bp Net interest income and margin ($ in millions) $26 million & 0 bps (1) (1) Change vs 2Q26 1Q26 2Q25 1Q26 2Q25 Avg Balance Income / Expense Yield / Rate Avg Balance Income / Expense Yield / Rate Avg Balance Income / Expense Yield / Rate Avg Balance Income / Expense Yield / Rate Avg Balance Income / Expense Yield / Rate Loans and leases (2) (3) $ 149,275 $ 2,253 6.05 % $ 148,666 $ 2,206 6.01 % $ 140,699 $ 2,270 6.47 % $ 609 $ 47 0.04 % $ 8,576 $ (17) (0.42) % Investment securities and reverse repos 43,214 401 3.72 42,062 384 3.67 44,172 419 3.79 1,152 17 0.05 (958) (18) (0.07) Interest-earning deposits at banks 21,501 197 3.67 21,824 196 3.64 23,304 256 4.40 (323) 1 0.03 (1,803) (59) (0.73) Total interest-earning assets (3) $ 213,990 $ 2,851 5.34 % $ 212,552 $ 2,786 5.30 % $ 208,175 $ 2,945 5.67 % $ 1,438 $ 65 0.04 % $ 5,815 $ (94) (0.33) % Interest-bearing deposits $ 129,385 $ 881 2.73 % $ 125,203 $ 833 2.70 % $ 118,582 $ 894 3.02 % $ 4,182 $ 48 0.03 % $ 10,803 $ (13) (0.29) % Total borrowings 33,229 314 3.78 35,334 332 3.76 38,379 356 3.71 (2,105) (18) 0.02 (5,150) (42) 0.07 Total interest-bearing liabilities $ 162,614 $ 1,195 2.95 % $ 160,537 $ 1,165 2.93 % $ 156,961 $ 1,250 3.19 % $ 2,077 $ 30 0.02 % $ 5,653 $ (55) (0.24) % Net interest income $ 1,656 $ 1,621 $ 1,695 $ 35 $ (39) Net interest spread (3) 2.39 % 2.37 % 2.48 % 0.02 % (0.09) % Net interest margin (3) 3.10 % 3.09 % 3.26 % 0.01 % (0.16) % Note – Certain items above do not precisely recalculate as presented due to rounding. (1) Non-GAAP measure: see Section V entitled Non-GAAP Reconciliations. (2) Loans and leases include nonaccrual loans and loans held for sale. Interest income on loans and leases includes loan PAA income and loan fees. (3) The average balances and yields for loans and leases are calculated net of average credit balances of factoring clients to appropriately reflect the interest-earning portion of factoring receivables. 12 3.26% 0.17% 0.14% 0.10% (0.25)% (0.12)% (0.11)% (0.05)% (0.04)% 3.10% 2Q25 Deposit rate Loan volume Debt volume Loan yield FFS yield / volume Deposit volume Investment yield / volume PAA 2Q26 2Q25 to 2Q26 (-16 bps) NIM Rollforward 3.09% 0.04% 0.01% 0.01% 0.01% (0.04)% (0.02)% 3.10% 1Q26 Debt volume Investment yield / volume Loan yield / volume PAA Deposit volume Deposit rate 2Q26 1Q26 to 2Q26 (1 bp) 13 Deposit Betas Highlights - Our total cumulative deposit beta in the tightening cycle peaked in August 2024 prior to the September rate cuts. - Deposit betas are currently modeled to have a portfolio average of approximately 35%-40% over the twelve-month forecast horizon, including 45%-50% for interest-bearing non-maturity deposits. - Mid/higher beta categories: - > 30% beta on Direct Bank and SVB Commercial money market, savings and time deposit accounts. - 20% to 30% beta on Branch Network commercial money market accounts and Community Association Banking checking with interest and money market accounts. - Lower beta categories: - 0% to 20% beta on total noninterest bearing deposits and Branch Network consumer money market accounts, checking with interest and savings accounts. 23% 30% 37% 42% 45% 46% 47% 12% 20% 34% 39% 39% 38% 35% 34%31% 46% 53% 58% 61% 63% 64% 16% 26% 49% 56% 56% 52% 50% 49% 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 - Jul/Aug 3Q24 - Sep 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 Tightening Cycle Easing Cycle Terminal beta 42% 43% 42% 42% 41% 58% 57% 58% 58% 59% Mid/higher beta categories Lower beta categories 2Q25 3Q25 4Q25 1Q26 2Q26 Total Deposits Actual cumulative beta Actual cumulative beta IBD 14 $678 $699 $715 $692 $776 $513 $518 $529 $520 $586 $165 $181 $186 $172 $190 2Q25 3Q25 4Q25 1Q26 2Q26 Noninterest income ($ in millions) Adjusted (Non-GAAP) (1) Notable items (2) Note – Percent changes above are based on unrounded amounts and may not recalculate precisely using the displayed rounded amounts. (1) Non-GAAP measure: see Section V entitled Non-GAAP Reconciliations. (2) Refer to Section V for notable item details. Noninterest income Increase (decrease) 2Q26 vs 1Q26 2Q26 vs 2Q25 2Q26 1Q26 4Q25 3Q25 2Q25 $ % $ % Total reported noninterest income $ 776 $ 692 $ 715 $ 699 $ 678 $ 84 12.1 % $ 98 14.5 % Notable items (2) 190 172 186 181 165 18 10.5 25 15.2 Total adjusted noninterest income (1) $ 586 $ 520 $ 529 $ 518 $ 513 $ 66 13.0 % $ 73 14.4 % Adjusted rental income on operating lease equipment (1) $ 112 $ 115 $ 115 $ 108 $ 117 $ (3) (2.3) % $ (5) (4.4) % Lending-related fees 73 69 64 67 69 4 4.4 4 4.5 Deposit fees and service charges 74 70 63 61 59 4 5.1 15 24.2 Client investment fees 59 53 54 58 52 6 13.8 7 16.7 Wealth management services 62 59 61 57 55 3 4.5 7 12.3 International fees 36 35 37 34 33 1 (0.4) 3 8.3 Factoring commissions 18 17 20 18 18 1 8.1 — — Cardholder services, net 38 38 37 39 41 — — (3) (6.6) Merchant services, net 13 13 13 12 13 — — — — Insurance commissions 13 13 12 13 14 — — (1) (9.0) Other noninterest income 88 38 53 51 42 50 138.1 46 109.7 15 $1,500 $1,491 $1,572 $1,536 $1,551 $1,279 $1,279 $1,368 $1,330 $1,346 $221 $212 $204 $206 $205 2Q25 3Q25 4Q25 1Q26 2Q26 Noninterest expense ($ in millions) Note – Percent changes above are based on unrounded amounts and may not recalculate precisely using the displayed rounded amounts. (1) Non-GAAP measure: see Section V entitled Non-GAAP Reconciliations. (2) Refer to Section V for notable item details. Adjusted (Non-GAAP) (1) Notable items (2) Noninterest expense Increase (decrease) 2Q26 vs 1Q26 2Q26 vs 2Q25 2Q26 1Q26 4Q25 3Q25 2Q25 $ % $ % Total reported noninterest expense $ 1,551 $ 1,536 $ 1,572 $ 1,491 $ 1,500 $ 15 0.9 % $ 51 3.3 % Notable items 205 206 204 212 221 (1) (0.5) (16) (7.2) Total adjusted noninterest expense (1) $ 1,346 $ 1,330 $ 1,368 $ 1,279 $ 1,279 $ 16 1.3 % $ 67 5.3 % Personnel cost $ 836 $ 857 $ 849 $ 811 $ 810 $ (21) (2.5) % $ 26 3.2 % Net occupancy expense 59 60 61 58 61 (1) (0.9) (2) (3.3) Equipment expense 141 136 151 137 131 5 3.3 10 7.1 Professional fees 21 18 34 26 30 3 18.0 (9) (28.5) Third-party processing fees 100 93 75 67 63 7 6.4 37 56.2 FDIC insurance expense 39 38 39 38 38 1 — 1 0.9 Marketing expense 45 30 45 33 32 15 48.9 13 39.7 Other noninterest expense 105 $ 98 $ 114 $ 109 $ 114 7 10.9 (9) (4.9) 16 Increase (decrease) 2Q26 vs 1Q26 2Q26 vs 2Q25 SELECT PERIOD END BALANCES 2Q26 1Q26 2Q25 $ % $ % Interest-earning deposits at banks $ 21,132 $ 23,189 $ 26,184 $ (2,057) (35.6) % $ (5,052) (19.4) % Investment securities 43,557 42,986 43,346 571 5.3 211 0.5 Loans and leases 151,034 148,692 141,269 2,342 6.3 9,765 6.9 Operating lease equipment, net (2) 9,755 9,685 9,466 70 2.9 289 3.1 Deposits 173,427 170,842 159,935 2,585 6.1 13,492 8.4 Noninterest-bearing deposits 42,475 43,606 40,879 (1,131) (10.4) 1,596 3.9 Off-balance sheet client funds 80,624 77,794 63,897 2,830 14.6 16,727 26.2 Borrowings 32,188 33,962 38,112 (1,774) (20.9) (5,924) (15.5) Tangible common equity (non-GAAP) (3) 19,618 19,755 20,848 (137) (2.8) (1,230) (5.9) Common equity 20,135 20,283 21,415 (148) (2.9) (1,280) (6.0) Stockholders' equity 21,900 22,048 22,296 (148) (2.7) (396) (1.8) Increase (decrease) KEY METRICS 2Q26 1Q26 2Q25 2Q26 vs 1Q26 2Q26 vs 2Q25 CET1 ratio 10.77 % 10.83 % 12.12 % (0.06) % (1.35) % Book value per common share $ 1,767.79 $ 1,735.18 $ 1,637.72 $ 32.61 $ 130.07 Tangible book value per common share (non-GAAP) (3) 1,722.35 1,689.96 1,594.38 32.39 127.97 Tangible common equity to tangible assets (non-GAAP) (3) 8.30 % 8.39 % 9.10 % (0.09) % (0.80) % Loan to deposit ratio 87.09 87.04 88.33 0.05 (1.24) ALLL to total loans and leases 0.98 1.05 1.18 (0.07) (0.20) Noninterest-bearing deposits to total deposits 24.49 25.52 25.56 (1.03) (1.07) Uninsured deposits 38 % 38 % 36 % — % 2 % Total liquid assets (available cash + HQLS) $ 59,138 $ 60,722 $ 63,616 $ (1,584) $ (4,478) Total liquidity (liquid assets & contingent sources) 89,660 91,015 92,129 (1,355) (2,469) Total liquidity / uninsured deposits 138 % 139 % 159 % (1) % (21) % Balance Sheet Highlights ($ in millions, except per share data) (1) (1) Note – The above CET1 ratio represents BancShares ratio and is preliminary pending completion of quarterly regulatory filings. (1) Percent change is calculated using unrounded numbers and therefore may not recalculate precisely using the displayed rounded amounts. The linked quarter change is annualized. (2) Operating lease equipment, net includes $9.0 billion of rail assets as of 2Q26. (3) Non-GAAP measure: see Section V entitled Non-GAAP Reconciliations. 17 $141,269 $144,758 $147,930 $148,692 $151,034 $76,282 $79,533 $82,972 $84,325 $86,679 $64,987 $65,225 $64,958 $64,367 $64,355 Commercial Bank General Bank 2Q25 3Q25 4Q25 1Q26 2Q26 Note – Commercial Bank includes a small amount of Rail loans (less than $100 million in all periods). Rail operating lease assets are not included in the loan totals. $148,692 $2,354 $(12) $151,034 1Q26 Commercial Bank General Bank 2Q26 $149,121 $1,472 $(499) $150,094 1Q26 Commercial Bank General Bank 2Q26 Average RollforwardPeriod End Rollforward Average LoansPeriod End Loans $141,791 $142,857 $146,944 $149,121 $150,094 $76,842 $77,798 $81,620 $84,237 $85,709 $64,949 $65,059 $65,324 $64,884 $64,385 Commercial Bank General Bank Yield on loans 2Q25 3Q25 4Q25 1Q26 2Q26 6.44% 6.24% 6.01% 6.05%6.47% Loans and Leases ($ in millions) $2.3 billion or 1.6% $973 million or 0.7% 18 29% 7% 6% 32% 22% 4% Branch Network & Other ($43.8) Wealth & Private Banking ($11.2) Mortgage ($9.3) SVB Commercial ($48.1) Commercial Finance & Middle Market Banking ($32.8) Equipment Finance ($5.8) Loans and Leases Composition Period End Balances ($ in millions) Increase (decrease) 2Q26 vs 1Q26 2Q26 vs 2Q25 2Q26 1Q26 2Q25 $ % $ % Branch Network & Other (2) $ 43,847 $ 43,851 $ 43,800 $ (4) — % $ 47 0.1 % Wealth & Private Banking 11,163 11,110 10,909 53 1.9 254 2.3 Mortgage 9,345 9,406 10,278 (61) (2.6) (933) (9.1) General Bank Segment (2) 64,355 64,367 64,987 (12) (0.1) (632) (1.0) SVB Commercial 48,100 45,367 37,530 2,733 24.2 10,570 28.2 Commercial Finance & Middle Market Banking 32,810 33,144 32,755 (334) (4.0) 55 0.2 Equipment Finance 5,769 5,814 5,997 (45) (3.1) (228) (3.8) Commercial Bank Segment (3) 86,679 84,325 76,282 2,354 11.2 10,397 13.6 Total Loans $ 151,034 $ 148,692 $ 141,269 $ 2,342 6.3 % $ 9,765 6.9 % Note – Totals may not foot due to rounding. (1) Percent change is calculated using unrounded numbers and therefore may not recalculate precisely using the displayed rounded amounts. The linked quarter change is annualized. (2) 1Q26 includes the impact of a transfer of loans to held for sale from the SBA portfolio within Branch Network & Other, reducing period end balances by approximately $364 million. (3) Commercial Bank includes a small amount of Rail loans (less than $100 million in all periods). Rail operating lease assets are not included in the loan totals. Segment / Business ($ in billions) Commercial Bank: (3) General Bank: Class ($ in billions) 31% 23% 16% 15% 12% 2% 1% Commercial and industrial ($46.6) Capital call lines ($34.2) Residential and revolving mortgage ($24.4) Commercial real estate ($23.2) Owner occupied commercial mortgage ($17.9) Investor dependent ($2.6) Auto and other consumer ($2.1) (1) (1) 19 $159,935 $163,190 $161,578 $170,842 $173,427 $119,056 $120,438 $120,925 $127,236 $130,952 $40,879 $42,752 $40,653 $43,606 $42,475 Interest-bearing Noninterest-bearing 2Q25 3Q25 4Q25 1Q26 2Q26 Deposits ($ in millions) $157,664 $160,624 $163,191 $165,927 $170,639 $118,582 $120,575 $121,433 $125,203 $129,385 $39,082 $40,049 $41,758 $40,724 $41,254 Interest-bearing Noninterest-bearing Cost of deposits 2Q25 3Q25 4Q25 1Q26 2Q26 $170,842 $3,716 $(1,131) $173,427 1Q26 Interest- bearing Noninterest- bearing 2Q26 $165,927 $4,182 $530 $170,639 1Q26 Interest- bearing Noninterest- bearing 2Q26 2.25% 2.09% 2.04% 2.07%2.27% Period End Deposits Average Deposits Period End Rollforward Average Rollforward $2.6 billion or 1.5% $4.7 billion or 2.8% 20 37% 5% 2%24% 2% 28% 2% Branch Network & Other ($63.5) Community Association Banking ($8.5) Wealth & Private Banking ($3.8) SVB Commercial ($42.5) Other ($3.2) Direct Bank ($48.2) Brokered Deposits & Other ($3.8) Segment / Business ($ in billions)Type ($ in billions) 52% 24% 15% 9% Money market & savings ($90.0) Noninterest-bearing demand ($42.5) Checking with interest ($25.8) Time deposits ($15.1) Commercial Bank: (2) General Bank: Corporate: Period End Balances ($ in millions) Increase (decrease) 2Q26 vs 1Q26 2Q26 vs 2Q25 2Q26 1Q26 2Q25 $ % $ % Branch Network & Other $ 63,479 $ 63,834 $ 61,943 $ (355) (2.2) % $ 1,536 2.5 % Community Association Banking 8,450 8,306 8,008 144 7.0 442 5.5 Wealth & Private Banking 3,789 3,774 3,548 15 1.6 241 6.8 General Bank Segment 75,718 75,914 73,499 (196) (1.0) 2,219 3.0 SVB Commercial 42,529 44,011 37,798 (1,482) (13.5) 4,731 12.5 Other 3,163 3,182 2,902 (19) (2.4) 261 9.0 Commercial Bank Segment (2) 45,692 47,193 40,700 (1,501) (12.8) 4,992 12.3 Direct Bank 48,222 45,408 45,111 2,814 24.9 3,111 6.9 Brokered Deposits & Other 3,795 2,327 625 1,468 NM 3,170 NM Corporate 52,017 47,735 45,736 4,282 36.0 6,281 13.7 Total Deposits $ 173,427 $ 170,842 $ 159,935 $ 2,585 6.1 % $ 13,492 8.4 % Deposit Composition Note – Totals may not foot due to rounding. (1) Percent change is calculated using unrounded numbers and therefore may not recalculate precisely using the displayed rounded amounts. The linked quarter change is annualized. (2) Commercial Bank includes a small amount of Rail deposits (less than $50 million in all periods). (1) (1) 21 39 36 43 48 72 80 79 92 75 65 45 39 37 35 36 32 39 41 39 43 46 49 53 56 65 58 40 39 49 48 81 87 90 101 80 71 46 40 56 37 36 38 39 48 44 85 90 86 70 73 144 Deals Under $1B Total Deal Value ($B) 1Q 20 2Q 20 3Q 20 4Q 20 1Q 21 2Q 21 3Q 21 4Q 21 1Q 22 2Q 22 3Q 22 4Q 22 1Q 23 2Q 23 3Q 23 4Q 23 1Q 24 2Q 24 3Q 24 4Q 24 1Q 25 2Q 25 3Q 25 4Q 25 1Q 26 2Q 26 US VC investment (1) Total client funds (Avg)Total client funds (EOP) SVB Commercial Funding Trends ($ in billions) $101.7 $106.9 $108.1 $121.8 $122.9 $63.9 $67.0 $69.7 $77.8 $80.4 $37.8 $39.9 $38.4 $44.0 $42.5 Off-balance sheet client funds Deposits 2Q25 3Q25 4Q25 1Q26 2Q26 $97.3 $103.1 $107.7 $113.7 $119.8 $61.8 $65.4 $68.5 $72.4 $77.9 $35.5 $37.7 $39.2 $41.3 $41.9 Off-balance sheet client funds Deposits 2Q25 3Q25 4Q25 1Q26 2Q26 $1.1 billion or 1.0% $6.1 billion or 5.3% (1) US VC investment data is sourced using PitchBook Data, Inc. as of 6/30/2026 and subject to prior period revisions. 269 22 3.19% 3.16% 3.03% 2.93% 2.95% 3.02% 3.00% 2.81% 2.70% 2.73% 2.27% 2.25% 2.09% 2.04% 2.07% Cost of interest-bearing liabilities Cost of interest-bearing deposits Cost of deposits 2Q25 3Q25 4Q25 1Q26 2Q26 0.00% 0.50% 1.00% 1.50% 2.00% 2.50% 3.00% 3.50% 4.00% 4.50% Cost of funds Period End Balances Increase (decrease) 2Q26 1Q26 4Q25 3Q25 2Q25 2Q26 vs 1Q26 2Q26 vs 2Q25 Total deposits $ 173,427 84.3 % $ 170,842 83.4 % $ 161,578 81.8 % $ 163,190 80.8 % $ 159,935 80.8 % $ 2,585 $ 13,492 Securities sold under customer repurchase agreements 152 0.1 170 0.1 224 0.1 423 0.2 471 0.2 (18) (319) Purchase money note 28,423 13.8 30,905 15.1 33,385 16.9 35,854 17.8 35,841 18.1 (2,482) (7,418) FHLB borrowings — — — — — — — — — — — — Subordinated debt 1,744 0.8 1,764 0.9 1,772 0.9 1,775 0.9 1,182 0.6 (20) 562 Senior unsecured borrowings 1,784 0.9 1,050 0.5 555 0.3 555 0.3 555 0.3 734 1,229 Other borrowings 85 — 73 — 72 — 68 — 63 — 12 22 Total deposits and borrowed funds $ 205,615 100 % $ 204,804 100 % $ 197,586 100 % $ 201,865 100 % $ 198,047 100 % $ 811 $ 7,568 Funding Mix ($ in millions) Highlights - Prepaid $2.5 billion of the FDIC Purchase Money Note during the quarter bringing total repayments to $7.5 billion through the end of the second quarter. - Successfully completed the issuance of $750 million of fixed-to- floating rate senior bank notes during the quarter. - Given continued deposit growth and the net reduction in total borrowings, funding mix improved and approximately 84% of our total funding is now provided by deposits. - Total cost of deposits and cost of interest-bearing deposits both increased by 3 basis points from the linked quarter. Note – Funding mix percentages may not foot due to rounding. 23 $115 $191 $54 $72 $(10) 2Q25 3Q25 4Q25 1Q26 2Q26 Credit Quality Trends and Allowance ($ in millions) Net charge-offs & NCO ratio Provision (benefit) for credit losses $119 $234 $143 $111 $108 0.33% 0.65% 0.39% 0.30% 0.29% NCO $ QTD NCO ratio YTD NCO ratio 2Q25 3Q25 4Q25 1Q26 2Q26 Nonaccrual loans / total loans & leases Allowance & ALLL ratio $1,672 $1,652 $1,566 $1,558 $1,484 1.18% 1.14% 1.06% 1.05% 0.98% ALLL ALLL ratio 2Q25 3Q25 4Q25 1Q26 2Q26 0.29%0.37% 0.47% 0.45% 0.30% $1,319 $1,406 $1,307 $1,429 $1,446 0.93% 0.97% 0.88% 0.96% 0.96% Nonaccrual loans Nonaccrual loans to total loans 2Q25 3Q25 4Q25 1Q26 2Q26 (1) 3Q25 includes an $82 million individual client charge-off in the Commercial Services business within the Commercial Bank segment. This loss contributed 23 bps to the 3Q25 NCO ratio, 8 bps to the 3Q25 YTD NCO ratio, and impacted the quarterly provision for credit losses by $82 million. (2) The $82 million individual client charge-off in 3Q25 contributed 6 bps to the 2025 YTD NCO ratio. (1) (1) (2) 24 $1,558 $(31) $(18) $(17) $(8) $1,484 1Q26 Specific reserves Credit quality Economic scenarios Portfolio changes 2Q26 Highlights 2Q26 vs 1Q26 - ALLL decreased $74 million from the linked quarter. - The decrease compared to the linked quarter was driven by lower specific reserves, improvements in credit quality including updates to certain models used to estimate the allowance, changes in the macroeconomic scenarios, and growth concentrated in capital call lines which have a significantly lower loss rate relative to our other loan portfolios. - The ALLL covered annualized net charge-offs 3.4 times. The ALLL provided 1.0 times coverage of nonaccrual loans. ALLL Coverage 3.5x 1.7x 2.7x 3.5x 3.4x 1.3x 1.2x 1.2x 1.1x 1.0x ALLL ratio / NCO ratio ALLL / Nonaccrual loans 2Q25 3Q25 4Q25 1Q26 2Q26 1Q26 to 2Q26 Allowance for loan and lease losses ($ in millions) 25 Risk-based capital ratios Capital ratio rollforward Tier 1 Leverage ratio Tangible book value per share (1) Capital Risk-Based Capital Tier 1 Leverage Total Tier 1 CET1 March 31, 2026 13.51 % 11.79 % 10.83 % 9.30 % Net income 0.37 % 0.37 % 0.37 % 0.29 % Change in risk-weighted/average assets -0.08 % -0.07 % -0.06 % -0.09 % Share repurchases -0.33 % -0.33 % -0.33 % -0.26 % Tier 2 Instrument call/phase outs -0.01 % 0.00 % 0.00 % 0.00 % Common dividends -0.01 % -0.01 % -0.01 % -0.01 % Preferred dividends -0.02 % -0.02 % -0.02 % -0.01 % Other -0.06 % 0.00 % -0.01 % 0.00 % June 30, 2026 13.37 % 11.73 % 10.77 % 9.22 % Change since March 31, 2026 -0.14 % -0.06 % -0.06 % -0.08 % 12.12% 11.65% 11.15% 10.83% 10.77% 12.63% 12.15% 11.91% 11.79% 11.73% 14.25% 14.05% 13.71% 13.51% 13.37% 2Q25 3Q25 4Q25 1Q26 2Q26 $1,674.11 $102.91 ($27.47) ($23.00) ($4.20) $1,722.35 4Q25 Retained earnings AOCI Share repurchases Common dividends 2Q26 Note – The above capital ratios represent BancShares ratios and are preliminary pending completion of quarterly regulatory filings. (1) Non-GAAP measure: see Section V entitled Non-GAAP Reconciliations. 9.62% 9.34% 9.29% 9.30% 9.22% Tier 1 Leverage ratio 2Q25 3Q25 4Q25 1Q26 2Q26 CET1 Tier 1 Total 26 Share Repurchase Plan Update - Since announcing a share repurchase plan in July 2024, we have repurchased 23.69% of Class A common shares and 22.05% of total common shares that were outstanding (1) as of June 30, 2024. - During the third quarter of 2025 we fully utilized the $3.5 billion share repurchase plan announced in July 2024 and subsequently began repurchasing shares under the $4.0 billion share repurchase plan announced in July 2025. - As of June 30, 2026 we had used 67% of the $4.0 billion share repurchase plan announced in July 2025 and had $1.3 billion of remaining repurchase capacity. Highlights Class A Common Shares Outstanding Repurchase Summary (through 7/21/26) Period Shares Average Price Total Cost ($ in millions) 2024 814,641 $ 2,041.35 $ 1,663 2025 1,578,462 1,917.07 3,026 1Q26 449,845 2,000.67 900 2Q26 298,907 2,006.36 600 07/01/26 to 07/21/26 62,636 2,095.26 131 Total 3,204,491 $ 1,972.21 $ 6,320 13,524,550 (814,641) (1,578,462) (811,388) 10,320,059 6/30/2024 Repurchased 2024 Repurchased 2025 Repurchased 2026 YTD 7/21/2026 (1) Total common shares outstanding includes 1,005,185 of Class B common shares outstanding as of June 30, 2024 and July 21, 2026. Financial Outlook Section III 28 Metric 2Q26 3Q26 - Projected FY26 - Projected Loans and leases - EOP $151.0 billion $152 billion - $155 billion $153 billion - $157 billion Deposits - EOP $173.4 billion $179 billion - $182 billion $181 billion - $186 billion Interest rates Unchanged in 3Q26 Zero to one 25 bps rate hike in 2026; Fed funds ending between 3.50% - 4.00% Net interest income $1.7 billion $1.63 billion - $1.71 billion $6.60 billion - $6.75 billion Net charge-off ratio (annualized where applicable) 29 bps 30 bps - 40 bps 30 bps - 35 bps Adjusted noninterest income $586 million (1) $520 million - $560 million $2.14 billion - $2.22 billion Adjusted noninterest expense $1.35 billion (1) $1.33 billion - $1.37 billion $5.34 billion - $5.41 billion Effective tax rate 24.5% 24.5% - 25.5% 24.5% - 25.5% Key Earnings Estimate Assumptions (1) Non-GAAP measure: see Section V entitled Non-GAAP Reconciliations. Note - Management does not provide a reconciliation for forward-looking non-GAAP financial measures where it is unable to provide a meaningful or accurate calculation or estimation of reconciling items and the information is not available without unreasonable effort. This is due to the inherent difficulty of forecasting the occurrence and the financial impact of various items that have not yet occurred, are out of BancShares’ control, or cannot be reasonably predicted. For the same reasons, management is unable to address the probable significance of the unavailable information. Forward-looking non-GAAP financial measures provided without the most directly comparable GAAP financial measures may vary materially from the corresponding GAAP financial measures. Changes in the operating environment could introduce select risks to these assumptions. Please see important notices on forward looking statements found on page 3 for additional detail on inherent risks, uncertainties, changes in circumstances and other factors that are difficult to predict. Key Earnings Estimate Assumptions for 3Q26 and FY26 are inclusive of the BMO Bank N.A. branch acquisition expected to close by the end of the third quarter of 2026. Appendix Section IV 30 Reclassifications In certain instances, amounts reported for prior periods in this investor presentation have been reclassified to conform to the current financial statement presentation. Such reclassifications had no effect on previously reported stockholders’ equity or net income. Segment Reclassifications During the fourth quarter of 2025, BancShares changed the composition of the Commercial Bank segment to include SVB Commercial, which was previously a separate segment, and prior period segment financial information in this investor presentation was recast accordingly. The methodologies that we use to allocate items among our segments are dynamic and may be updated periodically to reflect enhanced expense base allocation drivers, changes in the risk profile of a segment or changes in our organizational structure. Accordingly, financial results may be revised periodically to reflect these enhancements. Class Reclassifications During the fourth quarter of 2025, we updated our loan classes as summarized below (“4Q25 Loan Class Changes”): - Commercial real estate is a separate loan class. Prior to the 4Q25 Loan Class Changes, commercial real estate loans were primarily included in the non-owner occupied commercial mortgage and commercial construction loan classes. Additionally, commercial and industrial loans for the purpose of acquiring, constructing or developing real estate were previously included in the commercial and industrial loan class, and residential construction loans were previously included in the residential mortgage loan class. - Capital call lines is a separate loan class. Prior to the 4Q25 Loan Class Changes, global fund banking (which included capital call lines and certain other commercial and industrial loans in the Global Fund Banking line of business) was a separate loan class. - Commercial and industrial remained a separate loan class, but the composition was updated to: (i) include certain other commercial and industrial loans that were previously included in the global fund banking loan class prior to the 4Q25 Loan Class Changes, (ii) include leases, which was previously a separate loan class, and (iii) exclude commercial real estate loans that were previously included in the commercial and industrial loan class. - Residential mortgage loans remained a separate loan class, but the composition was updated to exclude residential construction loans which are included in the commercial real estate loan class after the 4Q25 Loan Class Changes. Loan and lease disclosures for all periods presented in this investor presentation were recast to reflect the 4Q25 Loan Class Changes. The segment information in this investor presentation was not recast as a result of the 4Q25 Loan Class Changes because the composition of reportable segments is separate and distinct from the identification of loan classes. Reclassifications 31 Glossary of Abbreviations and Acronyms The following is a list of certain abbreviations and acronyms used throughout this document. AFS – Available for Sale ALLL – Allowance for Loan and Lease Losses AOCI – Accumulated Other Comprehensive Income bps – Basis point(s); 1 bp = 0.01% C&I – Commercial and Industrial CET1 – Common Equity Tier 1 Risk-based Capital EOP – End of Period EPS – Earnings Per Share FDIC – Federal Deposit Insurance Corporation FFS – Fed Funds Sold FHLB – Federal Home Loan Bank GAAP – United States Generally Accepted Accounting Principles HQLS – High-Quality Liquid Securities HTM – Held to Maturity IBD – Interest-Bearing Deposits LP – Limited Partner NCO – Net Charge-Off NDFI – Non-Depository Financial Institution NII – Net Interest Income NIM – Net Interest Margin NM – Not Meaningful PAA – Purchase Accounting Accretion or Amortization PE – Private Equity PPNR – Pre-Provision Net Revenue QTD – Quarter-to-date ROA – Return on Average Assets ROE – Return on Average Common Stockholders’ Equity ROTCE – Return on Average Tangible Common Stockholders’ Equity SBA – Small Business Administration VC – Venture Capital YTD – Year-to-date 32 Jun 30, 2026 Mar 31, 2026 Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 ASSETS Cash and due from banks $ 1,519 $ 1,080 $ 801 $ 874 $ 889 Interest-earning deposits at banks 21,132 23,189 19,801 24,798 26,184 Securities purchased under agreements to resell 737 223 232 83 300 Investment in marketable equity securities 156 130 127 110 97 Investment securities available for sale 33,983 33,314 31,790 34,963 33,060 Investment securities held to maturity 9,418 9,542 9,647 10,051 10,189 Assets held for sale 93 1,122 804 112 125 Loans and leases 151,034 148,692 147,930 144,758 141,269 Allowance for loan and lease losses (1,484) (1,558) (1,566) (1,652) (1,672) Loans and leases, net of allowance for loan and lease losses 149,550 147,134 146,364 143,106 139,597 Operating lease equipment, net 9,755 9,685 9,621 9,446 9,466 Premises and equipment, net 2,523 2,499 2,447 2,283 2,115 Goodwill 346 346 346 346 346 Other intangible assets, net 171 182 195 208 221 Other assets 7,459 7,513 7,523 7,108 7,064 Total assets $ 236,842 $ 235,959 $ 229,698 $ 233,488 $ 229,653 LIABILITIES Deposits: Noninterest-bearing $ 42,475 $ 43,606 $ 40,653 $ 42,752 $ 40,879 Interest-bearing 130,952 127,236 120,925 120,438 119,056 Total deposits 173,427 170,842 161,578 163,190 159,935 Credit balances of factoring clients 1,339 1,284 1,148 1,326 1,077 Short-term borrowings 152 170 224 423 471 Long-term borrowings 32,036 33,792 35,784 38,252 37,641 Total borrowings 32,188 33,962 36,008 38,675 38,112 Other liabilities 7,988 7,823 8,726 8,311 8,233 Total liabilities 214,942 213,911 207,460 211,502 207,357 STOCKHOLDERS’ EQUITY Preferred stock 1,765 1,765 1,375 881 881 Common stock 11 12 12 13 13 Additional paid in capital — — — 270 1,179 Retained earnings 20,354 20,343 20,768 20,866 20,337 Accumulated other comprehensive loss (230) (72) 83 (44) (114) Total stockholders’ equity 21,900 22,048 22,238 21,986 22,296 Total liabilities and stockholders’ equity $ 236,842 $ 235,959 $ 229,698 $ 233,488 $ 229,653 BancShares Balance Sheets (unaudited) ($ in millions) 33 2Q26 1Q26 4Q25 3Q25 2Q25 INTEREST INCOME Loans and leases $ 2,253 $ 2,206 $ 2,290 $ 2,300 $ 2,270 Investment securities 401 384 424 433 419 Deposits at banks 197 196 226 265 256 Total interest income 2,851 2,786 2,940 2,998 2,945 INTEREST EXPENSE Deposits 881 833 861 911 894 Borrowings 314 332 357 353 356 Total interest expense 1,195 1,165 1,218 1,264 1,250 Net interest income 1,656 1,621 1,722 1,734 1,695 (Benefit) provision for credit losses (10) 72 54 191 115 Net interest income after provision for credit losses 1,666 1,549 1,668 1,543 1,580 NONINTEREST INCOME Rental income on operating lease equipment 280 281 281 273 272 Lending-related fees 73 69 64 67 69 Deposit fees and service charges 74 70 63 61 59 Client investment fees 59 53 54 58 52 Wealth management services 62 59 61 57 55 International fees 36 35 37 34 33 Factoring commissions 18 17 20 18 18 Cardholder services, net 38 38 37 39 41 Merchant services, net 13 13 13 12 13 Insurance commissions 13 13 12 13 14 Realized gain (loss) on sale of investment securities, net — — 3 — — Fair value adjustment on marketable equity securities, net 15 3 12 13 2 Gain on sale of leasing equipment, net 14 11 14 3 8 Loss on extinguishment of debt (7) (8) (9) — — Other noninterest income 88 38 53 51 42 Total noninterest income 776 692 715 699 678 NONINTEREST EXPENSE Depreciation on operating lease equipment 101 101 102 98 100 Maintenance and other operating lease expenses 67 65 64 67 55 Personnel cost 844 869 849 817 810 Net occupancy expense 59 60 61 58 61 Equipment expense 141 136 151 137 131 Professional fees 26 24 34 26 30 Third-party processing fees 100 93 75 67 63 FDIC insurance expense 39 38 27 38 38 Marketing expense 45 30 45 33 32 Acquisition-related expenses 8 5 33 28 38 Intangible asset amortization 11 13 13 13 13 Other noninterest expense 110 102 118 109 129 Total noninterest expense 1,551 1,536 1,572 1,491 1,500 Income before income taxes 891 705 811 751 758 Income tax expense 219 171 231 183 183 Net income $ 672 $ 534 $ 580 $ 568 $ 575 Preferred stock dividends $ 32 $ 26 $ 14 $ 14 $ 14 Net income available to common stockholders $ 640 $ 508 $ 566 $ 554 $ 561 BancShares Income Statements (unaudited) ($ in millions) 34 High Quality and Diversified NDFI Portfolio ($ in millions) Total Loans $151,034 $49,729 $59,878 $41,427 NDFI Other C&I All other 2Q26 C&I NDFI Composition $34,203 $3,082 $2,689 $1,453 Other Net asset value loans Private credit Capital call lines 2Q26 NDFI Portfolio Characteristics Capital call lines Short-term commitments to funds where the primary source of repayment is the unfunded capital commitments of the underlying LPs. Net asset value loans Loans to funds collateralized by the PE funds’ direct equity investments. Other Other includes loans to insurance companies, payment processors, equipment leasing, etc. Private credit Includes two primary portfolios: - Specialty finance and leveraged fund lines: Lines of credit provided to credit funds primarily secured by portfolios of first lien loans at conservative advance rates. - Warehouse lines: Lines of credit secured by large pools of accounts receivable and loans. - Portfolio is diversified, well-collateralized and supported by structural protections - ~ 83% of balance is in low risk capital call lines - ~ 7% of balance to traditional private credit - ~ 85% of private credit balances are to closed end and/ or publicly traded funds with lower redemption risk Note – For purposes of this analysis, C&I loans are inclusive of four loans classes including Commercial and industrial, Capital call lines, Owner occupied commercial mortgage and Investor dependent. 35 Average Deposit Account Size and Insured by Segment ($ in billions, except average account size, period end balances) Total deposits Average size Insured % General Bank $ 75.7 $ 37,511 64 % Commercial Bank 45.7 599,861 31 Corporate 52.0 63,307 88 Total $ 173.4 $ 59,466 62 % Note – Commercial Bank includes a small amount of Rail deposits.Totals may not foot due to rounding. 36 (1) 2Q26 (1) Carrying value (2) % of Portfolio Yield (3) Duration in years AFS Portfolio U.S. Treasury $ 13,320 31 % 3.93 % 1.3 Government agency 33 — 2.76 0.3 Residential mortgage-backed securities 17,500 40 4.26 3.1 Commercial mortgage-backed securities 2,972 7 4.06 2.1 Corporate bonds 128 — 7.77 0.7 Municipal bonds 12 — 4.65 16.8 Other investments 18 — 7.46 4.8 Total AFS portfolio $ 33,983 78 % 4.13 % 2.3 HTM portfolio U.S. Treasury $ 390 1 % 1.44 % 1.3 Government agency 1,190 3 1.61 1.8 Residential mortgage-backed securities 4,311 10 2.68 5.3 Commercial mortgage-backed securities 3,279 8 2.22 3.2 Other investments 248 — 1.64 3.4 Total HTM portfolio $ 9,418 22 % 2.31 % 3.9 Grand total $ 43,401 100 % 3.73 % 2.6 Debt Securities Overview ($ in millions, period end balances) (1) Includes the debt securities portfolio; excludes marketable equity securities. (2) Carrying value represents fair value for AFS and amortized cost for HTM portfolios. (3) Yield represents actual accounting yield recognized during the quarter. 37 General Bank Segment ($ in millions) Note – Percent changes above are based on unrounded amounts and may not recalculate precisely using the displayed rounded amounts. (1) Non-GAAP measure: see Section V entitled Non-GAAP Reconciliations. (2) The linked quarter percent change is annualized. Increase (decrease) 2Q26 vs 1Q26 2Q26 vs 2Q25 Earnings Summary 2Q26 1Q26 4Q25 3Q25 2Q25 $ % $ % Net interest income $ 819 $ 813 $ 841 $ 846 $ 824 $ 6 0.8 % $ (5) (0.7) % Total noninterest income 187 172 170 166 164 15 8.5 23 13.9 Total revenue 1,006 985 1,011 1,012 988 21 2.1 18 1.7 Total noninterest expense 601 600 604 582 580 1 0.1 21 3.4 Pre-provision net revenue (1) 405 385 407 430 408 20 5.3 (3) (0.6) Provision for credit losses 54 17 17 1 13 37 NM 41 NM Income before income taxes 351 368 390 429 395 (17) (4.6) (44) (11.2) Income tax expense 85 90 82 109 101 (5) (5.6) (16) (16.0) Net income $ 266 $ 278 $ 308 $ 320 $ 294 $ (12) (4.2) % $ (28) (9.6) % Period end Balances (2) Loans and leases $ 64,355 $ 64,367 $ 64,958 $ 65,225 $ 64,987 $ (12) (0.1) % $ (632) (1.0) % Deposits 75,718 75,914 74,796 74,596 73,499 (196) (1.0) 2,219 3.0 Other Key Metrics Number of branches 520 519 521 520 526 1 0.2 % (6) (1.1) % Wealth management assets under management ($B) $ 62.0 $ 59.7 $ 61.2 $ 59.9 $ 57.1 $ 2.3 3.9 $ 4.9 8.6 Card volume 4,850 4,475 4,713 4,621 4,629 375 8.4 221 4.8 Merchant volume 1,898 1,786 1,799 1,827 1,882 112 6.3 16 0.9 38 Increase (decrease) 2Q26 vs 1Q26 2Q26 vs 2Q25 Earnings Summary 2Q26 1Q26 4Q25 3Q25 2Q25 $ % $ % Net interest income $ 805 $ 802 $ 834 $ 796 $ 789 $ 3 0.5 % $ 16 2.0 % Rental income on operating lease equipment 54 55 55 54 54 (1) (2.6) — — Less: depreciation on operating lease equipment 43 43 44 43 44 — — (1) (3.1) Adjusted rental income on operating lease equipment (1) 11 12 11 11 10 (1) (8.3) 1 10.0 All other noninterest income 270 230 241 236 228 40 17.5 42 18.6 Noninterest income, net (1) 281 242 252 247 238 39 16.1 43 18.1 Revenue 1,086 1,044 1,086 1,043 1,027 42 4.0 59 5.7 Noninterest expense, net (1) 586 603 612 596 605 (17) (2.8) (19) (3.1) Pre-provision net revenue (1) 500 441 474 447 422 59 13.6 78 18.5 (Benefit) provision for credit losses (64) 55 37 190 102 (119) NM (166) NM Income before income taxes 564 386 437 257 320 178 46.4 244 76.3 Income tax expense 136 95 102 64 82 41 44.4 54 66.5 Net income $ 428 $ 291 $ 335 $ 193 $ 238 $ 137 47.1 % $ 190 79.6 % Period end Balances (2) Loans and leases $ 86,635 $ 84,263 $ 82,910 $ 79,470 $ 76,220 $ 2,372 11.3 % $ 10,415 13.7 % Operating lease equipment, net 723 717 739 737 750 6 3.2 (27) (3.6) Deposits 45,690 47,191 41,532 42,869 40,697 (1,501) (12.8) 4,993 12.3 Off-balance sheet client funds 80,606 77,777 69,681 67,035 63,879 2,829 14.6 16,727 26.2 Other Key Metrics Factoring volume $ 5,878 $ 5,787 $ 6,547 $ 6,315 $ 5,481 $ 91 1.6 % $ 397 7.2 % Commercial Bank Segment ($ in millions) Note – Commercial segment results do not include the accretion impact of SVB loans or the impact of overnight investments and debt that was added at the acquisition date (the aforementioned items are contained within Corporate). During 4Q25, the Commercial Bank segment was updated to include SVB Commercial, which was previously a separate segment, and prior period segment financial information was recast accordingly. Percent changes above are based on unrounded amounts and may not recalculate precisely using the displayed rounded amounts. (1) Non-GAAP measure: see Section V entitled Non-GAAP Reconciliations. (2) The linked quarter percent change is annualized. 39 Increase (decrease) 2Q26 vs 1Q26 2Q26 vs 2Q25 Earnings Summary 2Q26 1Q26 4Q25 3Q25 2Q25 $ % $ % Net interest expense $ 59 $ 58 $ 53 $ 55 $ 53 $ 1 2.1 % $ 6 10.0 % Rental income on operating lease equipment 226 226 226 219 218 — — 8 4.1 Less: depreciation on operating lease equipment 58 58 58 55 56 — — 2 5.6 Less: maintenance and other operating lease expenses 67 65 64 67 55 2 3.4 12 20.5 Adjusted rental income on operating lease equipment (1) 101 103 104 97 107 (2) (1.9) (6) (5.6) All other noninterest income 7 9 9 2 3 (2) (28.0) 4 96.0 Noninterest income, net (1) 108 112 113 99 110 (4) (3.6) (2) (1.8) Revenue 49 54 60 44 57 (5) (9.3) (8) (14.0) Noninterest expense, net (1) 24 25 22 22 32 (1) (4.0) (8) (25.0) Pre-provision net revenue (1) 25 29 38 22 25 (4) (15.7) — — Provision for credit losses — — — — — — — — — Income before income taxes 25 29 38 22 25 (4) (15.4) — — Income tax expense 6 7 9 5 6 (1) (16.6) — — Net income $ 19 $ 22 $ 29 $ 17 $ 19 $ (3) (15.1) % $ — — Period end Balances (2) Operating lease equipment, net $ 9,032 $ 8,968 $ 8,882 $ 8,709 $ 8,716 $ 64 2.9 % $ 316 3.6 % Other Key Metrics Railcars and locomotives (3) 129,300 128,600 128,400 127,600 127,300 700 0.5 % 2,000 1.6 % Utilization 96.7 % 96.2 % 96.2 % 96.8 % 96.9 % NM 0.5 NM (0.2) Renewal rate to previous rate 115 118 117 118 132 NM (3.0) NM (17.0) Rail Segment ($ in millions) Note – Percent changes above are based on unrounded amounts and may not recalculate precisely using the displayed rounded amounts. (1) Non-GAAP measure: see Section V entitled Non-GAAP Reconciliations. (2) The linked quarter percent change is annualized. (3) Railcars and locomotives number is rounded. 40 Corporate ($ in millions) Note – Percent changes above are based on unrounded amounts and may not recalculate precisely using the displayed rounded amounts. (1) Non-GAAP measure: see Section V entitled Non-GAAP Reconciliations. (2) The linked quarter percent change is annualized. Increase (decrease) 2Q26 vs 1Q26 2Q26 vs 2Q25 Earnings Summary 2Q26 1Q26 4Q25 3Q25 2Q25 $ % $ % Net interest income $ 91 $ 64 $ 100 $ 147 $ 135 $ 27 40.7 % $ (44) (32.7) % Total noninterest income 32 — 14 22 11 32 NM 21 NM Total revenue 123 64 114 169 146 59 89.9 (23) (15.3) Total noninterest expense 172 142 168 126 128 30 20.6 44 34.9 Pre-provision net revenue (1) (49) (78) (54) 43 18 29 36.8 (67) NM Provision for credit losses — — — — — — — — — (Loss) Income before income taxes (49) (78) (54) 43 18 29 36.9 (67) NM Income tax (benefit) expense (8) (21) 38 5 (6) 13 56.8 (2) (31.9) Net (loss) income $ (41) $ (57) $ (92) $ 38 $ 24 $ 16 29.9 % $ (65) NM Period end Balance Sheet (2) Investment securities $ 43,539 $ 42,986 $ 41,564 $ 45,124 $ 43,346 $ 553 5.2 % $ 193 0.5 % Direct Bank deposits 48,222 45,408 44,802 45,146 45,111 2,814 24.9 3,111 6.9 Brokered deposits 3,325 1,831 — 134 154 1,494 NM 3,171 NM 41 June 30, 2026 March 31, 2026 December 31, 2025 September 30, 2025 June 30, 2025 Loans and leases (including off-balance sheet exposure) (1) Beginning balance - unamortized fair value mark $ (1,300) $ (1,351) $ (1,411) $ (1,483) $ (1,561) Other 5 3 1 1 3 Accretion 55 48 59 71 75 Ending balance $ (1,240) $ (1,300) $ (1,351) $ (1,411) $ (1,483) Core deposits and other intangibles Beginning balance $ 182 $ 195 $ 208 $ 221 $ 234 Amortization (11) (13) (13) (13) (13) Ending balance $ 171 $ 182 $ 195 $ 208 $ 221 Borrowings (2) Beginning balance - unamortized fair value mark $ 61 $ 78 $ 97 $ 107 $ 116 Amortization (7) (9) (10) (10) (9) Loss on extinguishment of debt (7) (8) (9) — — Ending balance $ 47 $ 61 $ 78 $ 97 $ 107 Purchase accounting marks ($ in millions) Note – The summary only includes select information and is not intended to represent all purchase accounting adjustments. (1) Purchase accounting marks on loans and leases is comprised of credit, interest and liquidity components, and are generally recognized using the level-yield or straight-line method over the remaining life of the receivable or in full in the event of prepayment. (2) Purchase accounting marks on borrowings represent interest rate marks and are recognized using the level-yield method over the remaining term of the liability. Non-GAAP Reconciliations Section V 43 Notable Items (1) ($ in millions, except per share data) 2Q26 1Q26 4Q25 3Q25 2Q25 Rental income on operating lease equipment (2) $ (168) $ (166) $ (166) $ (165) $ (155) Realized gain on sale of investment securities, net — — (3) — — Fair value adjustment on marketable equity securities, net (15) (3) (12) (13) (2) Gain on sale of leasing equipment, net (14) (11) (14) (3) (8) Loss on extinguishment of debt 7 8 9 — — Other noninterest income — — — — — Impact of notable items on adjusted noninterest income $ (190) $ (172) $ (186) $ (181) $ (165) Depreciation on operating lease equipment (2) $ (101) $ (101) $ (102) $ (98) $ (100) Maintenance and other operating lease expenses (2) (67) (65) (64) (67) (55) Personnel cost (3) (8) (12) — (6) — Professional fees (4) (5) (6) — — — FDIC insurance special assessment — — 12 — — Acquisition-related expenses (8) (5) (33) (28) (38) Intangible asset amortization (11) (13) (13) (13) (13) Other noninterest expense (5) (5) (4) (4) — (15) Impact of notable items on adjusted noninterest expense $ (205) $ (206) $ (204) $ (212) $ (221) Impact of notable items on adjusted pre-tax income $ 15 $ 34 $ 18 $ 31 $ 56 Income tax impact (6) (4) 8 (50) 12 24 Impact of notable items on adjusted net income $ 19 $ 26 $ 68 $ 19 $ 32 Impact of notable items on adjusted diluted EPS $ 1.57 $ 2.23 $ 5.46 $ 1.54 $ 2.42 (1) Notable items include income and expense for infrequent transactions and certain recurring items (typically noncash) that management believes should be excluded from adjusted measures (non- GAAP) to enhance understanding of operations and comparability to historical periods. Management utilizes both GAAP and adjusted measures (non-GAAP) to analyze BancShares’ performance. Refer to subsequent pages of this presentation for a reconciliation of non-GAAP measures to the most directly comparable GAAP measures. (2) Depreciation and maintenance and other operating lease expenses are deducted from rental income on operating lease equipment to calculate adjusted rental income on operating lease equipment (non-GAAP). There is no net impact to earnings for this non-GAAP item because adjusted noninterest income and expense are reduced by the same amount. Management believes adjusted rental income on operating lease equipment (non-GAAP) is meaningful because it helps management monitor the performance and profitability of the operating leases after deducting direct expenses. Refer to subsequent pages of this presentation for a reconciliation of non-GAAP measures to the most directly comparable GAAP measures. (3) Personnel cost in 2Q26 and 1Q26 includes severance and retention costs in connection with business optimization; 3Q25 includes impairment of internal use software under development. (4) Professional fees include costs for risk transformation and strategic enhancements to technology in 2Q26 and 1Q26. (5) Other noninterest expense includes certain litigation expenses in 2Q26 and 1Q26, a write-off of other assets in 1Q26, a technology fee in 4Q25, and an accrual resulting from a vendor dispute and an increase in litigation reserve in 2Q25. (6) For the periods presented, the income tax impact may include tax discrete items and changes in the estimated annualized effective tax rate. 44 Non-GAAP Reconciliations 2Q26 1Q26 4Q25 3Q25 2Q25 Net income and EPS Net income (GAAP) a $ 672 534 580 568 575 Preferred stock dividends 32 26 14 14 14 Net income available to common stockholders (GAAP) b 640 508 566 554 561 Total notable items, after income tax c 19 26 68 19 32 Adjusted net income (non-GAAP) d = (a+c) 691 560 648 587 607 Adjusted net income available to common stockholders (non-GAAP) e = (b+c) $ 659 534 634 573 593 Weighted average common shares outstanding Basic f 11,535,792 11,924,899 12,363,028 12,849,339 13,237,226 Diluted g 11,535,792 11,924,899 12,363,028 12,849,339 13,237,226 EPS (GAAP) Basic b/f $ 55.52 42.63 45.81 43.08 42.36 Diluted b/g 55.52 42.63 45.81 43.08 42.36 Adjusted EPS (non-GAAP) Basic e/f $ 57.09 44.86 51.27 44.62 44.78 Diluted e/g 57.09 44.86 51.27 44.62 44.78 Noninterest income and expense Noninterest income (GAAP) h $ 776 692 715 699 678 Impact of notable items, before income tax (190) (172) (186) (181) (165) Adjusted noninterest income (non-GAAP) i $ 586 520 529 518 513 Noninterest expense (GAAP) j $ 1,551 1,536 1,572 1,491 1,500 Impact of notable items, before income tax (205) (206) (204) (212) (221) Adjusted noninterest expense (non-GAAP) k $ 1,346 1,330 1,368 1,279 1,279 Note: Certain items above do not precisely recalculate as presented due to rounding. Non-GAAP Reconciliations ($ in millions, except share and per share data) 45 Non-GAAP Reconciliations ($ in millions) Non-GAAP Reconciliations 2Q26 1Q26 4Q25 3Q25 2Q25 PPNR Net income (GAAP) a $ 672 534 580 568 575 Plus: (benefit) provision for credit losses (10) 72 54 191 115 Plus: income tax expense 219 171 231 183 183 PPNR (non-GAAP) l $ 881 777 865 942 873 Impact of notable items 15 34 18 31 56 Adjusted PPNR (non-GAAP) m $ 896 811 883 973 929 ROA Net income (GAAP) a $ 672 534 580 568 575 Annualized net income n = a annualized 2,699 2,164 2,303 2,254 2,307 Adjusted net income (non-GAAP) d 691 560 648 587 607 Annualized adjusted net income p = d annualized 2,771 2,272 2,571 2,332 2,435 Average assets o 235,200 233,181 233,432 230,529 227,552 ROA n/o 1.15 % 0.93 % 0.99 % 0.98 % 1.01 % Adjusted ROA (non-GAAP) p/o 1.18 0.97 1.10 1.01 1.07 PPNR ROA PPNR (non-GAAP) l $ 881 777 865 942 873 Annualized PPNR q = l annualized 3,536 3,152 3,430 3,738 3,501 Adjusted PPNR (non-GAAP) m 896 811 883 973 929 Annualized adjusted PPNR r = m annualized 3,595 3,288 3,504 3,860 3,728 PPNR ROA (non-GAAP) q/o 1.50 % 1.35 % 1.47 % 1.62 % 1.54 % Adjusted PPNR ROA (non-GAAP) r/o 1.53 1.41 1.50 1.67 1.64 Note: Certain items above do not precisely recalculate as presented due to rounding. 46 Non-GAAP Reconciliations ($ in millions) Non-GAAP Reconciliations 2Q26 1Q26 4Q25 3Q25 2Q25 ROE and ROTCE Annualized net income available to common stockholders s = b annualized $ 2,569 2,062 2,247 2,196 2,249 Annualized adjusted net income available to common stockholders t = e annualized $ 2,642 2,170 2,515 2,275 2,377 Average stockholders' equity (GAAP) $ 22,180 22,487 22,197 22,291 22,488 Less: average preferred stock 1,765 1,613 1,117 881 881 Average common stockholders' equity u $ 20,415 20,874 21,080 21,410 21,607 Less: average goodwill 346 346 346 346 346 Less: average other intangible assets 179 191 204 216 229 Average tangible common equity (non-GAAP) v $ 19,890 20,337 20,530 20,848 21,032 ROE s/u 12.58 % 9.88 % 10.66 % 10.26 % 10.41 % Adjusted ROE (non-GAAP) t/u 12.94 10.39 11.93 10.62 11.00 ROTCE (non-GAAP) s/v 12.92 10.14 10.94 10.53 10.69 Adjusted ROTCE (non-GAAP) t/v 13.28 10.67 12.25 10.91 11.30 Tangible common equity to tangible assets Stockholders' equity (GAAP) w $ 21,900 22,048 22,238 21,986 22,296 Less: preferred stock 1,765 1,765 1,375 881 881 Common equity x $ 20,135 20,283 20,863 21,105 21,415 Less: goodwill y 346 346 346 346 346 Less: other intangible assets z 171 182 195 208 221 Tangible common equity (non-GAAP) aa $ 19,618 19,755 20,322 20,551 20,848 Total assets (GAAP) bb $ 236,842 235,959 229,698 233,488 229,653 Tangible assets (non-GAAP) cc = bb - (y + z) 236,325 235,431 229,157 232,934 229,086 Total equity to total assets (GAAP) w/bb 9.25 % 9.34 % 9.68 % 9.42 % 9.71 % Tangible common equity to tangible assets (non-GAAP) aa/cc 8.30 8.39 8.87 8.82 9.10 Note: Certain items above do not precisely recalculate as presented due to rounding. 47 Non-GAAP Reconciliations ($ in millions, except share and per share data) Non-GAAP Reconciliations 2Q26 1Q26 4Q25 3Q25 2Q25 Book value and tangible book value per common share Common shares outstanding at period end dd 11,390,407 11,689,314 12,139,159 12,618,629 13,075,979 Book value per share x/dd $ 1,767.79 1,735.18 1,718.71 1,672.54 1,637.72 Tangible book value per common share (non-GAAP) aa/dd 1,722.35 1,689.96 1,674.11 1,628.64 1,594.38 Efficiency ratio Net interest income ee $ 1,656 1,621 1,722 1,734 1,695 Efficiency ratio (GAAP) j / (h + ee) 63.75 % 66.41 % 64.53 % 61.27 % 63.22 % Adjusted efficiency ratio (non-GAAP) k / (i + ee) 60.05 62.13 60.79 56.78 57.92 Rental income on operating lease equipment Rental income on operating lease equipment (GAAP) $ 280 281 281 273 272 Less: depreciation on operating lease equipment 101 101 102 98 100 Less: maintenance and other operating lease expenses 67 65 64 67 55 Adjusted rental income on operating lease equipment (non-GAAP) $ 112 115 115 108 117 Rental income on operating lease equipment: Commercial Bank Segment Rental income on operating lease equipment (GAAP) $ 54 55 55 54 54 Less: depreciation on operating lease equipment 43 43 44 43 44 Less: maintenance and other operating lease expenses — — — — — Adjusted rental income on operating lease equipment (non-GAAP) $ 11 12 11 11 10 Rental income on operating lease equipment: Rail Segment Rental income on operating lease equipment (GAAP) $ 226 226 226 219 218 Less: depreciation on operating lease equipment 58 58 58 55 56 Less: maintenance and other operating lease expenses 67 65 64 67 55 Adjusted rental income on operating lease equipment (non-GAAP) $ 101 103 104 97 107 Note: Certain items above do not precisely recalculate as presented due to rounding. 48 Non-GAAP Reconciliations ($ in millions, except share and per share data) Non-GAAP Reconciliations 2Q26 1Q26 4Q25 3Q25 2Q25 Noninterest Income and Noninterest Expense: Commercial Bank Segment Noninterest income (GAAP) $ 324 285 296 290 282 Less: depreciation on operating lease equipment 43 43 44 43 44 Noninterest income, net (non-GAAP) $ 281 242 252 247 238 Noninterest expense (GAAP) $ 629 646 656 639 649 Less: depreciation on operating lease equipment 43 43 44 43 44 Noninterest expense, net (non-GAAP) $ 586 603 612 596 605 Noninterest Income and Noninterest Expense: Rail Segment Noninterest income (GAAP) $ 233 235 235 221 221 Less: depreciation on operating lease equipment 58 58 58 55 56 Less: maintenance and other operating lease expenses 67 65 64 67 55 Noninterest income, net (non-GAAP) $ 108 112 113 99 110 Noninterest expense (GAAP) $ 149 148 144 144 143 Less: depreciation on operating lease equipment 58 58 58 55 56 Less: maintenance and other operating lease expenses 67 65 64 67 55 Noninterest expense, net (non-GAAP) $ 24 25 22 22 32 Note: Certain items above do not precisely recalculate as presented due to rounding. 49 Non-GAAP Reconciliations ($ in millions) Non-GAAP Reconciliations 2Q26 1Q26 4Q25 3Q25 2Q25 PPNR: General Bank Segment Segment net income (GAAP) $ 266 278 308 320 294 Plus: provision for credit losses 54 17 17 1 13 Plus: income tax expense 85 90 82 109 101 PPNR (non-GAAP) $ 405 385 407 430 408 PPNR: Commercial Bank Segment Segment net income (GAAP) $ 428 291 335 193 238 Plus: (benefit) provision for credit losses (64) 55 37 190 102 Plus: income tax expense 136 95 102 64 82 PPNR (non-GAAP) $ 500 441 474 447 422 PPNR: Rail Segment Segment net income (GAAP) $ 19 22 29 17 19 Plus: provision for credit losses — — — — — Plus: income tax expense 6 7 9 5 6 PPNR (non-GAAP) $ 25 29 38 22 25 PPNR: Corporate Net income (GAAP) $ (41) (57) (92) 38 24 Plus: income tax expense (benefit) (8) (21) 38 5 (6) PPNR (non-GAAP) $ (49) (78) (54) 43 18 50 Non-GAAP Reconciliations ($ in millions) Non-GAAP Reconciliations 2Q26 1Q26 4Q25 3Q25 2Q25 Net interest income & Net interest margin Net interest income (GAAP) ee $ 1,656 1,621 1,722 1,734 1,695 Loan PAA ff 55 48 59 71 75 Other PAA gg (7) (9) (10) (10) (9) PAA hh = (ff + gg) $ 48 39 49 61 66 Net interest income, excluding PAA (non-GAAP) ii = (ee - hh) $ 1,608 1,582 1,673 1,673 1,629 Annualized net interest income jj = ee annualized $ 6,642 6,575 6,834 6,878 6,800 Annualized net interest income, excluding PAA kk = ii annualized 6,451 6,416 6,640 6,637 6,533 Average interest-earning assets ll 213,990 212,552 213,294 211,042 208,175 NIM (GAAP) jj/ll 3.10 % 3.09 % 3.20 % 3.26 % 3.26 % NIM, excluding PAA (non-GAAP) kk/ll 3.01 3.01 3.11 3.15 3.14 Interest income on loans (GAAP) $ 2,253 2,206 2,290 2,300 2,270 Less: loan PAA ff 55 48 59 71 75 Interest income on loans, excluding loan PAA (non-GAAP) $ 2,198 2,158 2,231 2,229 2,195 Note: Certain items above do not precisely recalculate as presented due to rounding. --- ## EX-99.3 SEC source: [ex_993financialsupplement-.htm](https://www.sec.gov/Archives/edgar/data/798941/000079894126000027/ex_993financialsupplement-.htm) Financial Supplement First Citizens BancShares, Inc. June 30, 2026 Summary Financial Data and Metrics | dollars in millions, except per share data | Three Months Ended / June 30, 2026 | Three Months Ended / March 31, 2026 | Three Months Ended / December 31, 2025 | Three Months Ended / September 30, 2025 | Three Months Ended / June 30, 2025 | Increase (Decrease) From LQ (4) | Six Months Ended / June 30, 2026 | Six Months Ended / June 30, 2025 | Increase (Decrease) From PYTD | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | Results of Operations: | | | | | | | | | | | Net interest income | $1,656 | $1,621 | $1,722 | $1,734 | $1,695 | $35% | $3,277 | $3,358 | $(81)% | | (Benefit) provision for credit losses | (10) | 72 | 54 | 191 | 115 | (82) | 62 | 269 | (207) | | Net interest income after provision for credit losses | 1,666 | 1,549 | 1,668 | 1,543 | 1,580 | 117 | 3,215 | 3,089 | 126 | | Noninterest income | 776 | 692 | 715 | 699 | 678 | 84 | 1,468 | 1,313 | 155 | | Noninterest expense | 1,551 | 1,536 | 1,572 | 1,491 | 1,500 | 15 | 3,087 | 2,993 | 94 | | Income before income taxes | 891 | 705 | 811 | 751 | 758 | 186 | 1,596 | 1,409 | 187 | | Income tax expense | 219 | 171 | 231 | 183 | 183 | 48 | 390 | 351 | 39 | | Net income | 672 | 534 | 580 | 568 | 575 | 138 | 1,206 | 1,058 | 148 | | Preferred stock dividends | 32 | 26 | 14 | 14 | 14 | 6 | 58 | 29 | 29 | | Net income available to common stockholders | $640 | $508 | $566 | $554 | $561 | $132% | $1,148 | $1,029 | $119% | | Adjusted net income available to common stockholders (1) | $659 | $534 | $634 | $573 | $593 | $125% | $1,193 | $1,106 | $87% | | Pre-tax, pre-provision net revenue (PPNR) (1) | 881 | 777 | 865 | 942 | 873 | 104 | 1,658 | 1,678 | (20) | | Adjusted PPNR (1) | 896 | 811 | 883 | 973 | 929 | 85 | 1,707 | 1,794 | (87) | | Per Share Information: | | | | | | | | | | | Diluted earnings per common share (EPS) | $55.52 | $42.63 | $45.81 | $43.08 | $42.36 | $12.89% | $97.95 | $76.73 | $21.22% | | Adjusted diluted EPS (1) | 57.09 | 44.86 | 51.27 | 44.62 | 44.78 | 12.23 | 101.76 | 82.48 | 19.28 | | Book value per common share at period end | 1,767.79 | 1,735.18 | 1,718.71 | 1,672.54 | 1,637.72 | 32.61 | | | | | Tangible book value per common share (TBV) (1) at period end | 1,722.35 | 1,689.96 | 1,674.11 | 1,628.64 | 1,594.38 | 32.39 | | | | | Key Performance Metrics: | | | | | | | | | | | Return on average assets (ROA) | 1.15% | 0.93% | 0.99% | 0.98% | 1.01% | 22 | 1.04% | 0.94% | 10 | | Adjusted ROA (1) | 1.18 | 0.97 | 1.10 | 1.01 | 1.07 | 21 | 1.08 | 1.01 | 7 | | PPNR ROA (1) | 1.50 | 1.35 | 1.47 | 1.62 | 1.54 | 15 | 1.43 | 1.49 | (6) | | Adjusted PPNR ROA (1) | 1.53 | 1.41 | 1.50 | 1.67 | 1.64 | 12 | 1.47 | 1.60 | (13) | | Return on average common equity (ROE) | 12.58 | 9.88 | 10.66 | 10.26 | 10.41 | 270 | 11.22 | 9.61 | 161 | | Adjusted ROE (1) | 12.94 | 10.39 | 11.93 | 10.62 | 11.00 | 255 | 11.66 | 10.33 | 133 | | Return on average tangible common equity (ROTCE) (1) | 12.92 | 10.14 | 10.94 | 10.53 | 10.69 | 278 | 11.52 | 9.87 | 165 | | Adjusted ROTCE (1) | 13.28 | 10.67 | 12.25 | 10.91 | 11.30 | 261 | 11.97 | 10.61 | 136 | | Efficiency ratio | 63.75 | 66.41 | 64.53 | 61.27 | 63.22 | (266) | 65.05 | 64.08 | 97 | | Adjusted efficiency ratio (1) | 60.05 | 62.13 | 60.79 | 56.78 | 57.92 | (208) | 61.06 | 58.75 | 231 | | Net interest margin (NIM) (2) | 3.10 | 3.09 | 3.20 | 3.26 | 3.26 | 1 | 3.09 | 3.26 | (17) | | NIM, excluding purchase accounting accretion (PAA) (1) (2) | 3.01 | 3.01 | 3.11 | 3.15 | 3.14 | — | 3.01 | 3.13 | (12) | | Select Balance Sheet Items at Period End: | | | | | | | | | | | Total investment securities | $43,557 | $42,986 | $41,564 | $45,124 | $43,346 | $571% | | | | | Total loans and leases | 151,034 | 148,692 | 147,930 | 144,758 | 141,269 | 2,342 | | | | | Total operating lease equipment, net | 9,755 | 9,685 | 9,621 | 9,446 | 9,466 | 70 | | | | | Total deposits | 173,427 | 170,842 | 161,578 | 163,190 | 159,935 | 2,585 | | | | | Total borrowings | 32,188 | 33,962 | 36,008 | 38,675 | 38,112 | (1,774) | | | | | Loan to deposit ratio | 87.09% | 87.04% | 91.55% | 88.71% | 88.33% | 5 | | | | | Noninterest-bearing deposits to total deposits | 24.49 | 25.52 | 25.16 | 26.20 | 25.56 | (103) | | | | | Capital Ratios at Period End: (3) | | | | | | | | | | | Total risk-based capital ratio | 13.37% | 13.51% | 13.71% | 14.05% | 14.25% | (14) | | | | | Tier 1 risk-based capital ratio | 11.73 | 11.79 | 11.91 | 12.15 | 12.63 | (6) | | | | | Common equity Tier 1 ratio | 10.77 | 10.83 | 11.15 | 11.65 | 12.12 | (6) | | | | | Tier 1 leverage capital ratio | 9.22 | 9.30 | 9.29 | 9.34 | 9.62 | (8) | | | | | Asset Quality at Period End: | | | | | | | | | | | Nonaccrual loans to total loans and leases | 0.96% | 0.96% | 0.88% | 0.97% | 0.93% | — | | | | | Allowance for loan and lease losses (ALLL) to loans and leases | 0.98 | 1.05 | 1.06 | 1.14 | 1.18 | (7) | | | | | Net charge-off ratio for the period | 0.29 | 0.30 | 0.39 | 0.65 | 0.33 | (1) | 0.29 | 0.37 | (8) | | (1) Denotes a non-GAAP measure. Refer to the non-GAAP reconciliation tables included at the end of this financial supplement for a reconciliation to the most directly comparable GAAP measure. “Adjusted” items exclude the impacts of Notable Items. | | | | | | | | | | | (2) Calculated net of average credit balances of factoring clients to appropriately reflect the interest-earning portion of factoring receivables. | | | | | | | | | | | (3) Capital ratios as of the current quarter-end are preliminary pending completion of quarterly regulatory filings. | | | | | | | | | | | (4) Linked quarter | | | | | | | | | | | (5) Basis points | | | | | | | | | | | Note: Percent changes within this Financial Supplement are based on unrounded amounts and may not recalculate precisely using the displayed rounded amounts. | | | | | | | | | | ### Consolidated Balance Sheets (Unaudited) | dollars in millions, except share data | June 30, 2026 | March 31, 2026 | December 31, 2025 | September 30, 2025 | June 30, 2025 | Increase (Decrease) From LQ | | --- | --- | --- | --- | --- | --- | --- | | Assets | | | | | | | | Cash and due from banks | $1,519 | $1,080 | $801 | $874 | $889 | $40.7% | | Interest-earning deposits at banks | 21,132 | 23,189 | 19,801 | 24,798 | 26,184 | (8.9) | | Securities purchased under agreements to resell | 737 | 223 | 232 | 83 | 300 | 231.3 | | Investment in marketable equity securities | 156 | 130 | 127 | 110 | 97 | 20.6 | | Investment securities available for sale | 33,983 | 33,314 | 31,790 | 34,963 | 33,060 | 2.0 | | Investment securities held to maturity | 9,418 | 9,542 | 9,647 | 10,051 | 10,189 | (1.3) | | Assets held for sale | 93 | 1,122 | 804 | 112 | 125 | (91.7) | | Loans and leases | 151,034 | 148,692 | 147,930 | 144,758 | 141,269 | 1.6 | | Allowance for loan and lease losses | (1,484) | (1,558) | (1,566) | (1,652) | (1,672) | (4.7) | | Loans and leases, net of allowance for loan and lease losses | 149,550 | 147,134 | 146,364 | 143,106 | 139,597 | 1.6 | | Operating lease equipment, net | 9,755 | 9,685 | 9,621 | 9,446 | 9,466 | 0.7 | | Premises and equipment, net | 2,523 | 2,499 | 2,447 | 2,283 | 2,115 | 1.0 | | Goodwill | 346 | 346 | 346 | 346 | 346 | — | | Other intangible assets, net | 171 | 182 | 195 | 208 | 221 | (6.0) | | Other assets | 7,459 | 7,513 | 7,523 | 7,108 | 7,064 | (0.7) | | Total assets | $236,842 | $235,959 | $229,698 | $233,488 | $229,653 | $0.4% | | Liabilities | | | | | | | | Deposits: | | | | | | | | Noninterest-bearing | $42,475 | $43,606 | $40,653 | $42,752 | $40,879 | $(2.6)% | | Interest-bearing | 130,952 | 127,236 | 120,925 | 120,438 | 119,056 | 2.9 | | Total deposits | 173,427 | 170,842 | 161,578 | 163,190 | 159,935 | 1.5 | | Credit balances of factoring clients | 1,339 | 1,284 | 1,148 | 1,326 | 1,077 | 4.3 | | Borrowings: | | | | | | | | Short-term borrowings | 152 | 170 | 224 | 423 | 471 | (10.6) | | Long-term borrowings | 32,036 | 33,792 | 35,784 | 38,252 | 37,641 | (5.2) | | Total borrowings | 32,188 | 33,962 | 36,008 | 38,675 | 38,112 | (5.2) | | Other liabilities | 7,988 | 7,823 | 8,726 | 8,311 | 8,233 | 2.1 | | Total liabilities | 214,942 | 213,911 | 207,460 | 211,502 | 207,357 | 0.5 | | Stockholders’ equity | | | | | | | | Preferred stock | 1,765 | 1,765 | 1,375 | 881 | 881 | — | | Common stock: | | | | | | | | Class A - $1 par value | 10 | 11 | 11 | 12 | 12 | (2.8) | | Class B - $1 par value | 1 | 1 | 1 | 1 | 1 | — | | Additional paid in capital | — | — | — | 270 | 1,179 | — | | Retained earnings | 20,354 | 20,343 | 20,768 | 20,866 | 20,337 | 0.1 | | Accumulated other comprehensive (loss) income | (230) | (72) | 83 | (44) | (114) | 220.0 | | Total stockholders’ equity | 21,900 | 22,048 | 22,238 | 21,986 | 22,296 | (0.7) | | Total liabilities and stockholders’ equity | $236,842 | $235,959 | $229,698 | $233,488 | $229,653 | $0.4% | ### Consolidated Statements of Income (Unaudited) | dollars in millions, except share and per share data | Three Months Ended / June 30, 2026 | Three Months Ended / March 31, 2026 | Three Months Ended / December 31, 2025 | Three Months Ended / September 30, 2025 | Three Months Ended / June 30, 2025 | Increase (Decrease) From LQ | Six Months Ended / June 30, 2026 | Six Months Ended / June 30, 2025 | Increase (Decrease) From PYTD | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | Interest income | | | | | | | | | | | Loans and leases | $2,253 | $2,206 | $2,290 | $2,300 | $2,270 | $2.1% | $4,459 | $4,506 | $(1.1)% | | Investment securities | 401 | 384 | 424 | 433 | 419 | 4.4 | 785 | 833 | (5.6) | | Deposits at banks | 197 | 196 | 226 | 265 | 256 | 0.5 | 393 | 501 | (21.6) | | Total interest income | 2,851 | 2,786 | 2,940 | 2,998 | 2,945 | 2.3 | 5,637 | 5,840 | (3.5) | | Interest expense | | | | | | | | | | | Deposits | 881 | 833 | 861 | 911 | 894 | 5.8 | 1,714 | 1,787 | (4.1) | | Borrowings | 314 | 332 | 357 | 353 | 356 | (5.4) | 646 | 695 | (7.0) | | Total interest expense | 1,195 | 1,165 | 1,218 | 1,264 | 1,250 | 2.6 | 2,360 | 2,482 | (4.9) | | Net interest income | 1,656 | 1,621 | 1,722 | 1,734 | 1,695 | 2.2 | 3,277 | 3,358 | (2.4) | | (Benefit) provision for credit losses | (10) | 72 | 54 | 191 | 115 | (113.9) | 62 | 269 | (77.0) | | Net interest income after provision for credit losses | 1,666 | 1,549 | 1,668 | 1,543 | 1,580 | 7.5 | 3,215 | 3,089 | 4.1 | | Noninterest income | | | | | | | | | | | Rental income on operating lease equipment | 280 | 281 | 281 | 273 | 272 | (0.1) | 561 | 542 | 3.5 | | Lending-related fees | 73 | 69 | 64 | 67 | 69 | 4.4 | 142 | 135 | 4.9 | | Deposit fees and service charges | 74 | 70 | 63 | 61 | 59 | 5.1 | 144 | 117 | 23.1 | | Client investment fees | 59 | 53 | 54 | 58 | 52 | 13.8 | 112 | 105 | 7.6 | | Wealth management services | 62 | 59 | 61 | 57 | 55 | 4.5 | 121 | 111 | 8.6 | | International fees | 36 | 35 | 37 | 34 | 33 | (0.4) | 71 | 65 | 8.9 | | Factoring commissions | 18 | 17 | 20 | 18 | 18 | 8.1 | 35 | 35 | — | | Cardholder services, net | 38 | 38 | 37 | 39 | 41 | — | 76 | 82 | (6.9) | | Merchant services, net | 13 | 13 | 13 | 12 | 13 | — | 26 | 27 | (3.4) | | Insurance commissions | 13 | 13 | 12 | 13 | 14 | — | 26 | 28 | (7.5) | | Realized gain (loss) on sale of investment securities, net | — | — | 3 | — | — | — | — | — | — | | Fair value adjustment on marketable equity securities, net | 15 | 3 | 12 | 13 | 2 | 370.3 | 18 | (3) | 759.6 | | Gain on sale of leasing equipment, net | 14 | 11 | 14 | 3 | 8 | 15.0 | 25 | 13 | 91.9 | | Loss on extinguishment of debt | (7) | (8) | (9) | — | — | 11.6 | (15) | — | (100.0) | | Other noninterest income | 88 | 38 | 53 | 51 | 42 | 138.1 | 126 | 56 | 126.7 | | Total noninterest income | 776 | 692 | 715 | 699 | 678 | 12.1 | 1,468 | 1,313 | 11.8 | | Noninterest expense | | | | | | | | | | | Depreciation on operating lease equipment | 101 | 101 | 102 | 98 | 100 | — | 202 | 198 | 2.0 | | Maintenance and other operating lease expenses | 67 | 65 | 64 | 67 | 55 | 3.4 | 132 | 113 | 16.5 | | Personnel cost | 844 | 869 | 849 | 817 | 810 | (2.9) | 1,713 | 1,628 | 5.3 | | Net occupancy expense | 59 | 60 | 61 | 58 | 61 | (0.9) | 119 | 119 | — | | Equipment expense | 141 | 136 | 151 | 137 | 131 | 2.9 | 277 | 267 | 3.7 | | Professional fees | 26 | 24 | 34 | 26 | 30 | 4.2 | 50 | 55 | (10.1) | | Third-party processing fees | 100 | 93 | 75 | 67 | 63 | 6.7 | 193 | 126 | 52.5 | | FDIC insurance expense | 39 | 38 | 27 | 38 | 38 | — | 77 | 76 | 0.9 | | Marketing expense | 45 | 30 | 45 | 33 | 32 | 48.9 | 75 | 64 | 17.2 | | Acquisition-related expenses | 8 | 5 | 33 | 28 | 38 | 90.4 | 13 | 80 | (83.7) | | Intangible asset amortization | 11 | 13 | 13 | 13 | 13 | (13.8) | 24 | 28 | (16.6) | | Other noninterest expense | 110 | 102 | 118 | 109 | 129 | 8.8 | 212 | 239 | (11.2) | | Total noninterest expense | 1,551 | 1,536 | 1,572 | 1,491 | 1,500 | 0.9 | 3,087 | 2,993 | 3.1 | | Income before income taxes | 891 | 705 | 811 | 751 | 758 | 26.4 | 1,596 | 1,409 | 13.4 | | Income tax expense | 219 | 171 | 231 | 183 | 183 | 27.6 | 390 | 351 | 11.2 | | Net income | $672 | $534 | $580 | $568 | $575 | $26.1% | $1,206 | $1,058 | $14.1% | | Preferred stock dividends | 32 | 26 | 14 | 14 | 14 | 27.2 | 58 | 29 | 98.9 | | Net income available to common stockholders | $640 | $508 | $566 | $554 | $561 | $26.0% | $1,148 | $1,029 | $11.7% | | Basic and diluted earnings per common share | $55.52 | $42.63 | $45.81 | $43.08 | $42.36 | $30.2% | $97.95 | $76.73 | $27.7% | | Weighted average common shares outstanding (basic and diluted) | 11,535,792 | 11,924,899 | 12,363,028 | 12,849,339 | 13,237,226 | (3.3) | 11,729,271 | 13,405,295 | (12.5) | Notable Items (1) | dollars in millions, except share per share data | Three Months Ended / June 30, 2026 | Three Months Ended / March 31, 2026 | Three Months Ended / December 31, 2025 | Three Months Ended / September 30, 2025 | Three Months Ended / June 30, 2025 | Increase (Decrease) From LQ | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | Noninterest income (GAAP) | $776 | $692 | $715 | $699 | $678 | $84 | $$1,313 | $155 | | Noninterest income notable items: | | | | | | | | | | Rental income on operating lease equipment (2) | (168) | (166) | (166) | (165) | (155) | (2) | (311) | (23) | | Realized gain on sale of investment securities, net | — | — | (3) | — | — | — | — | — | | Fair value adjustment on marketable equity securities, net | (15) | (3) | (12) | (13) | (2) | (12) | 3 | (21) | | Gain on sale of leasing equipment, net | (14) | (11) | (14) | (3) | (8) | (3) | (13) | (12) | | Loss on extinguishment of debt | 7 | 8 | 9 | — | — | (1) | — | 15 | | Total noninterest income notable items | (190) | (172) | (186) | (181) | (165) | (18) | (321) | (41) | | Adjusted noninterest income (non-GAAP) (a) | 586 | 520 | 529 | 518 | 513 | 66 | 992 | 114 | | Noninterest expense (GAAP) | 1,551 | 1,536 | 1,572 | 1,491 | 1,500 | 15 | 2,993 | 94 | | Noninterest expense notable items: | | | | | | | | | | Depreciation on operating lease equipment (2) | (101) | (101) | (102) | (98) | (100) | — | (198) | (4) | | Maintenance and other operating lease equipment expense (2) | (67) | (65) | (64) | (67) | (55) | (2) | (113) | (19) | | Personnel cost (3) | (8) | (12) | — | (6) | — | 4 | — | (20) | | Professional fees (4) | (5) | (6) | — | — | — | 1 | — | (11) | | FDIC insurance special assessment | — | — | 12 | — | — | — | — | — | | Acquisition-related expenses | (8) | (5) | (33) | (28) | (38) | (3) | (80) | 67 | | Intangible asset amortization | (11) | (13) | (13) | (13) | (13) | 2 | (28) | 4 | | Other noninterest expense (5) | (5) | (4) | (4) | — | (15) | (1) | (18) | 9 | | Total noninterest expense notable items | (205) | (206) | (204) | (212) | (221) | 1 | (437) | 26 | | Adjusted noninterest expense (non-GAAP) (b) | 1,346 | 1,330 | 1,368 | 1,279 | 1,279 | 16 | 2,556 | 120 | | Impact of notable items on adjusted pre-tax income (a)-(b) | 15 | 34 | 18 | 31 | 56 | (19) | 116 | (67) | | Less: income tax impact of notable items (6) | (4) | 8 | (50) | 12 | 24 | (12) | 39 | (35) | | Impact of notable items on adjusted net income | $19 | $26 | $68 | $19 | $32 | $(7) | $$77 | $(32) | | Impact of notable items on adjusted basic and diluted EPS | $1.57 | $2.23 | $5.46 | $1.54 | $2.42 | $(0.66) | $$5.75 | $(1.94) | | Weighted average common shares outstanding (basic and diluted) | 11,535,792 | 11,924,899 | 12,363,028 | 12,849,339 | 13,237,226 | (389,107) | 13,405,295 | (1,676,024) | (1) Notable items include income and expense for infrequent transactions and certain recurring items (typically noncash) that management believes should be excluded from adjusted measures (non-GAAP) to enhance understanding of operations and comparability to historical periods. Management utilizes both GAAP and adjusted measures (non-GAAP) to analyze BancShares’ performance. Refer to subsequent pages of this financial supplement for a reconciliation of non-GAAP measures to the most directly comparable GAAP measures. (2) Depreciation and maintenance and other operating lease expenses are deducted from rental income on operating lease equipment to calculate adjusted rental income on operating lease equipment (non-GAAP). There is no net impact to earnings for this non-GAAP item because adjusted noninterest income and expense are reduced by the same amount. Management believes adjusted rental income on operating lease equipment (non-GAAP) is meaningful because it helps management monitor the performance and profitability of the operating leases after deducting direct expenses. Refer to subsequent pages of this financial supplement for a reconciliation of non-GAAP measures to the most directly comparable GAAP measures. (3) Personnel cost in 2Q26 and 1Q26 includes severance and retention costs in connection with business optimization; 3Q25 includes impairment of internal use software under development. (4) Professional fees include costs for risk transformation and strategic enhancements to technology in 2Q26 and 1Q26. (5) Other noninterest expense includes certain litigation expenses in 2Q26 and 1Q26, a write-off of other assets in 1Q26, a technology fee in 4Q25, and an accrual resulting from a vendor dispute and an increase in litigation reserve in 2Q25. (6) For the periods presented, the income tax impact may include tax discrete items and changes in the estimated annualized effective tax rate. **Average Balance Sheets** | dollars in millions | Three Months Ended / June 30, 2026 | Three Months Ended / March 31, 2026 | Three Months Ended / December 31, 2025 | Three Months Ended / September 30, 2025 | Three Months Ended / June 30, 2025 | Increase (Decrease) From LQ | Six Months Ended / June 30, 2026 | Six Months Ended / June 30, 2025 | Increase (Decrease) From PYTD | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | Loans and leases (1) (2) | $149,275 | $148,666 | $145,689 | $141,785 | $140,699 | $0.4% | $148,973 | $140,099 | $6.3% | | Investment securities | 42,891 | 41,757 | 44,306 | 44,827 | 43,935 | 2.7 | 42,327 | 43,746 | (3.2) | | Securities purchased under agreements to resell | 323 | 305 | 285 | 284 | 237 | 5.7 | 314 | 260 | 21.0 | | Interest-earning deposits at banks | 21,501 | 21,824 | 23,014 | 24,146 | 23,304 | (1.5) | 21,662 | 23,003 | (5.8) | | Total interest-earning assets (2) | $213,990 | $212,552 | $213,294 | $211,042 | $208,175 | $0.7% | $213,276 | $207,108 | $3.0% | | Operating lease equipment, net | $9,728 | $9,660 | $9,495 | $9,463 | $9,419 | $0.7% | $9,694 | $9,385 | $3.3% | | Cash and due from banks | 1,161 | 921 | 847 | 757 | 804 | 26.1 | 1,042 | 795 | 30.4 | | Allowance for loan and lease losses | (1,579) | (1,587) | (1,649) | (1,702) | (1,713) | 0.5 | (1,583) | (1,709) | 7.4 | | All other noninterest-earning assets | 11,900 | 11,635 | 11,445 | 10,969 | 10,867 | 2.3 | 11,768 | 10,927 | 7.7 | | Total assets | $235,200 | $233,181 | $233,432 | $230,529 | $227,552 | $0.9% | $234,197 | $226,506 | $3.4% | | Interest-bearing deposits | | | | | | | | | | | Checking with interest | $26,146 | $25,341 | $23,907 | $23,028 | $22,929 | $3.2% | $25,746 | $23,427 | $9.9% | | Money market | 40,889 | 41,196 | 39,792 | 39,396 | 37,980 | (0.7) | 41,041 | 37,373 | 9.8 | | Savings | 48,357 | 46,720 | 46,618 | 47,005 | 46,163 | 3.5 | 47,543 | 45,046 | 5.5 | | Time deposits | 13,993 | 11,946 | 11,116 | 11,146 | 11,510 | 17.1 | 12,975 | 12,060 | 7.6 | | Total interest-bearing deposits | 129,385 | 125,203 | 121,433 | 120,575 | 118,582 | 3.3 | 127,305 | 117,906 | 8.0 | | Borrowings: | | | | | | | | | | | Securities sold under customer repurchase agreements | $162 | $197 | $265 | $442 | $471 | $(17.6)% | 180 | 450 | (60.1)% | | Senior unsecured borrowings | 1,136 | 718 | 556 | 555 | 555 | 58.2 | 928 | 363 | 155.6 | | Subordinated debt | 1,755 | 1,771 | 1,774 | 1,350 | 1,473 | (0.9) | 1,763 | 1,218 | 44.8 | | Other borrowings | 30,176 | 32,648 | 35,601 | 35,911 | 35,880 | (7.6) | 31,405 | 35,861 | (12.4) | | Long-term borrowings | 33,067 | 35,137 | 37,931 | 37,816 | 37,908 | (5.9) | 34,096 | 37,442 | (8.9) | | Total borrowings | 33,229 | 35,334 | 38,196 | 38,258 | 38,379 | (6.0) | 34,276 | 37,892 | (9.5) | | Total interest-bearing liabilities | $162,614 | $160,537 | $159,629 | $158,833 | $156,961 | $1.3% | $161,581 | $155,798 | $3.7% | | Noninterest-bearing deposits | $41,254 | $40,724 | $41,758 | $40,049 | $39,082 | $1.3% | $40,991 | $39,118 | $4.8% | | Credit balances of factoring clients | 1,327 | 1,224 | 1,358 | 1,175 | 1,157 | (8.4) | 1,276 | 1,123 | (13.6) | | Other noninterest-bearing liabilities | 7,825 | 8,209 | 8,490 | 8,181 | 7,864 | (4.7) | 8,017 | 7,995 | 0.3 | | Stockholders' equity | 22,180 | 22,487 | 22,197 | 22,291 | 22,488 | (1.4) | 22,332 | 22,472 | (0.6) | | Total liabilities and stockholders’ equity | $235,200 | $233,181 | $233,432 | $230,529 | $227,552 | $0.9% | $234,197 | $226,506 | $3.4% | | (1) Loans and leases include nonaccrual loans and loans held for sale. Interest income on loans and leases includes loan PAA income and loan fees. | | | | | | | | | | | (2) The average balances and yields for loans and leases are calculated net of average credit balances of factoring clients to appropriately reflect the interest-earning portion of factoring receivables. | | | | | | | | | | | Note: Certain items above do not precisely recalculate as presented due to rounding. | | | | | | | | | | **Net Interest Income** | dollars in millions | Three Months Ended / June 30, 2026 | Three Months Ended / March 31, 2026 | Three Months Ended / December 31, 2025 | Three Months Ended / September 30, 2025 | Three Months Ended / June 30, 2025 | Increase (Decrease) From LQ | Six Months Ended / June 30, 2026 | Six Months Ended / June 30, 2025 | Increase (Decrease) From PYTD | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | Loans and leases (1) (2) | $2,253 | $2,206 | $2,290 | $2,300 | $2,270 | $2.1% | $4,459 | $4,506 | $(1.1)% | | Investment securities | 398 | 382 | 421 | 430 | 416 | 4.4 | 780 | 827 | (5.6) | | Securities purchased under agreements to resell | 3 | 2 | 3 | 3 | 3 | 5.5 | 5 | 6 | 0.7 | | Interest-earning deposits at banks | 197 | 196 | 226 | 265 | 256 | 0.5 | 393 | 501 | (21.6) | | Total interest-earning assets (2) | $2,851 | $2,786 | $2,940 | $2,998 | $2,945 | $2.3% | $5,637 | $5,840 | $(3.5)% | | Interest-bearing deposits | | | | | | | | | | | Checking with interest | $104 | $95 | $94 | $99 | $97 | $10.0% | $199 | $201 | $(0.9)% | | Money market | 240 | 242 | 260 | 280 | 269 | (1.0) | 482 | 526 | (8.3) | | Savings | 420 | 398 | 412 | 435 | 428 | 5.4 | 818 | 845 | (3.2) | | Time deposits | 117 | 98 | 95 | 97 | 100 | 19.9 | 215 | 215 | — | | Total interest-bearing deposits | 881 | 833 | 861 | 911 | 894 | 5.8 | 1,714 | 1,787 | (4.1) | | Borrowings: | | | | | | | | | | | Securities sold under customer repurchase agreements | — | — | — | 1 | — | — | — | 1 | (100.0) | | Senior unsecured borrowings | 14 | 10 | 7 | 7 | 8 | 55.0 | 24 | 10 | 155.5 | | Subordinated debt | 24 | 23 | 24 | 17 | 19 | (1.1) | 47 | 27 | 70.1 | | Other borrowings | 276 | 299 | 326 | 328 | 329 | (7.6) | 575 | 657 | (12.4) | | Long-term borrowings | 314 | 332 | 357 | 352 | 356 | (5.4) | 646 | 694 | (6.8) | | Total borrowings | 314 | 332 | 357 | 353 | 356 | (5.4) | 646 | 695 | (7.0) | | Total interest-bearing liabilities | $1,195 | $1,165 | $1,218 | $1,264 | $1,250 | $2.6% | $2,360 | $2,482 | $(4.9)% | | Net interest income | $1,656 | $1,621 | $1,722 | $1,734 | $1,695 | $2.2% | $3,277 | $3,358 | $(2.4)% | | (1) Loans and leases include nonaccrual loans and loans held for sale. Interest income on loans and leases includes loan PAA income and loan fees. | | | | | | | | | | | (2) The average balances and yields for loans and leases are calculated net of average credit balances of factoring clients to appropriately reflect the interest-earning portion of factoring receivables. | | | | | | | | | | | Note: Certain items above do not precisely recalculate as presented due to rounding. | | | | | | | | | | Yields, Rates, Net Interest Margin, and Deposits by Type | Line item | Three Months Ended / June 30, 2026 | Three Months Ended / March 31, 2026 | Three Months Ended / December 31, 2025 | Three Months Ended / September 30, 2025 | Three Months Ended / June 30, 2025 | Increase (Decrease) From LQ in bps | Six Months Ended / June 30, 2026 | Six Months Ended / June 30, 2025 | Increase (Decrease) From PYTD in bps | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | Loans and leases (1) (2) | 6.05% | 6.01% | 6.24% | 6.44% | 6.47% | 4 | 6.03% | 6.48% | (45) | | Investment securities | 3.72 | 3.67 | 3.80 | 3.83 | 3.79 | 5 | 3.70 | 3.79 | (9) | | Securities purchased under agreements to resell | 3.60 | 3.65 | 4.00 | 4.32 | 4.34 | (5) | 3.63 | 4.36 | (73) | | Interest-earning deposits at banks | 3.67 | 3.64 | 3.90 | 4.36 | 4.40 | 3 | 3.65 | 4.39 | (74) | | Total interest-earning assets (2) | 5.34% | 5.30% | 5.48% | 5.64% | 5.67% | 4 | 5.32% | 5.67% | (35) | | Interest-bearing deposits | | | | | | | | | | | Checking with interest | 1.60% | 1.52% | 1.57% | 1.70% | 1.69% | 8 | 1.56% | 1.73% | (17) | | Money market | 2.35 | 2.38 | 2.59 | 2.82 | 2.84 | (3) | 2.37 | 2.84 | (47) | | Savings | 3.48 | 3.46 | 3.51 | 3.66 | 3.72 | 2 | 3.47 | 3.79 | (32) | | Time deposits | 3.36 | 3.31 | 3.38 | 3.45 | 3.48 | 5 | 3.34 | 3.60 | (26) | | Total interest-bearing deposits | 2.73 | 2.70 | 2.81 | 3.00 | 3.02 | 3 | 2.72 | 3.06 | (34) | | Borrowings: | | | | | | | | | | | Securities sold under customer repurchase agreements | 0.35 | 0.37 | 0.52 | 0.51 | 0.57 | (2) | 0.36 | 0.55 | (19) | | Senior unsecured borrowings | 5.13 | 5.23 | 5.27 | 5.27 | 5.27 | (10) | 5.16 | 5.16 | — | | Subordinated debt | 5.27 | 5.28 | 5.20 | 5.02 | 5.23 | (1) | 5.27 | 4.49 | 78 | | Other borrowings | 3.66 | 3.66 | 3.67 | 3.66 | 3.66 | — | 3.66 | 3.66 | — | | Long-term borrowings | 3.80 | 3.78 | 3.76 | 3.73 | 3.74 | 2 | 3.79 | 3.70 | 9 | | Total borrowings | 3.78 | 3.76 | 3.74 | 3.70 | 3.71 | 2 | 3.77 | 3.66 | 11 | | Total interest-bearing liabilities | 2.95% | 2.93% | 3.03% | 3.16% | 3.19% | 2 | 2.94% | 3.20% | (26) | | Net interest income | | | | | | | | | | | Net interest spread (2) | 2.39% | 2.37% | 2.45% | 2.48% | 2.48% | 2 | 2.38% | 2.47% | (9) | | Net interest margin (2) | 3.10% | 3.09% | 3.20% | 3.26% | 3.26% | 1 | 3.09% | 3.26% | (17) | | (1) Loans and leases include nonaccrual loans and loans held for sale. Interest income on loans and leases includes loan PAA income and loan fees. | | | | | | | | | | | (2) The average balances and yields for loans and leases are calculated net of average credit balances of factoring clients to appropriately reflect the interest-earning portion of factoring receivables. | | | | | | | | | | | Note: Certain items above do not precisely recalculate as presented due to rounding. | | | | | | | | | | | Deposits by Type / dollars in millions | Deposits by Type / June 30, 2026 | Deposits by Type / March 31, 2026 | Deposits by Type / December 31, 2025 | Deposits by Type / September 30, 2025 | Deposits by Type / June 30, 2025 | Increase (Decrease) From LQ | | --- | --- | --- | --- | --- | --- | --- | | Noninterest-bearing demand | $42,475 | $43,606 | $40,653 | $42,752 | $40,879 | $(2.6)% | | Checking with interest | 25,778 | 25,599 | 24,377 | 23,731 | 23,283 | 0.7 | | Money market | 39,964 | 41,136 | 38,687 | 38,718 | 37,654 | (2.9) | | Savings | 50,083 | 47,258 | 46,625 | 46,915 | 46,877 | 6.0 | | Time | 15,127 | 13,243 | 11,236 | 11,074 | 11,242 | 14.2 | | Total deposits | $173,427 | $170,842 | $161,578 | $163,190 | $159,935 | $1.5% | Loans and Credit Quality | Loans and Leases by Class / dollars in millions | Loans and Leases by Class / June 30, 2026 | Loans and Leases by Class / March 31, 2026 | Loans and Leases by Class / December 31, 2025 | Loans and Leases by Class / September 30, 2025 | Loans and Leases by Class / June 30, 2025 | Increase (Decrease) From LQ | | --- | --- | --- | --- | --- | --- | --- | | Commercial | | | | | | | | Commercial and industrial | $46,574 | $45,753 | $44,721 | $44,909 | $43,929 | $1.8% | | Capital call lines | 34,203 | 32,274 | 31,791 | 28,643 | 26,036 | 6.0 | | Owner occupied commercial mortgage | 17,904 | 17,502 | 17,660 | 17,232 | 17,053 | 2.3 | | Investor dependent | 2,624 | 2,714 | 2,778 | 2,772 | 2,777 | (3.3) | | Commercial real estate | 23,233 | 23,707 | 23,784 | 23,255 | 23,614 | (2.0) | | Total commercial | 124,538 | 121,950 | 120,734 | 116,811 | 113,409 | 2.1 | | Consumer | | | | | | | | Residential mortgage | 21,566 | 21,698 | 21,861 | 22,653 | 22,657 | (0.6) | | Revolving mortgage | 2,868 | 2,863 | 2,863 | 2,794 | 2,736 | 0.2 | | Auto | 1,261 | 1,332 | 1,416 | 1,463 | 1,490 | (5.4) | | Other consumer | 801 | 849 | 1,056 | 1,037 | 977 | (5.7) | | Total consumer | 26,496 | 26,742 | 27,196 | 27,947 | 27,860 | (0.9) | | Total loans and leases | 151,034 | 148,692 | 147,930 | 144,758 | 141,269 | 1.6 | | Less: allowance for loan and lease losses | (1,484) | (1,558) | (1,566) | (1,652) | (1,672) | (4.7) | | Total loans and leases, net of allowance for loan and lease losses | $149,550 | $147,134 | $146,364 | $143,106 | $139,597 | $1.6% | | Accruing Loans, 30-89 Days Past Due / dollars in millions | June 30, 2026 | March 31, 2026 | December 31, 2025 | September 30, 2025 | June 30, 2025 | Increase (Decrease) From LQ | | --- | --- | --- | --- | --- | --- | --- | | Commercial | | | | | | | | Commercial and industrial | $204 | $251 | $288 | $325 | $180 | $(47)% | | Capital call lines | — | 31 | — | — | — | (31) | | Owner occupied commercial mortgage | 85 | 89 | 97 | 52 | 86 | (4) | | Investor dependent | 5 | 8 | 12 | 3 | 4 | (3) | | Commercial real estate | 28 | 97 | 252 | 119 | 115 | (69) | | Total commercial | 322 | 476 | 649 | 499 | 385 | (154) | | Consumer | | | | | | | | Residential mortgage | 155 | 173 | 210 | 151 | 169 | (18) | | Revolving mortgage | 28 | 27 | 29 | 19 | 16 | 1 | | Auto | 13 | 12 | 18 | 12 | 11 | 1 | | Other consumer | 7 | 6 | 8 | 7 | 9 | 1 | | Total consumer | 203 | 218 | 265 | 189 | 205 | (15) | | Total loans and leases | $525 | $694 | $914 | $688 | $590 | $(169)% | | As a percentage of total loans | | | | | | | | Commercial | | | | | | | | Commercial and industrial | 0.44% | 0.55% | 0.65% | 0.72% | 0.41% | (11) | | Capital call lines | — | 0.10 | — | — | — | (10) | | Owner occupied commercial mortgage | 0.47 | 0.51 | 0.55 | 0.30 | 0.50 | (4) | | Investor dependent | 0.20 | 0.30 | 0.44 | 0.09 | 0.13 | (10) | | Commercial real estate | 0.12 | 0.41 | 1.06 | 0.51 | 0.49 | (29) | | Total commercial | 0.26 | 0.39 | 0.54 | 0.43 | 0.34 | (13) | | Consumer | | | | | | | | Residential mortgage | 0.72 | 0.79 | 0.96 | 0.67 | 0.75 | (7) | | Revolving mortgage | 0.99 | 0.92 | 1.04 | 0.69 | 0.60 | 7 | | Auto | 1.04 | 0.92 | 1.24 | 0.84 | 0.73 | 12 | | Other consumer | 0.84 | 0.76 | 0.76 | 0.63 | 0.85 | 8 | | Total consumer | 0.77 | 0.81 | 0.97 | 0.68 | 0.73 | (4) | | Total loans and leases | 0.35% | 0.47% | 0.62% | 0.48% | 0.42% | (12) | Loans and Credit Quality | Accruing Loans, 90+ Days Past Due / dollars in millions | Accruing Loans, 90+ Days Past Due / June 30, 2026 | Accruing Loans, 90+ Days Past Due / March 31, 2026 | Accruing Loans, 90+ Days Past Due / December 31, 2025 | Accruing Loans, 90+ Days Past Due / September 30, 2025 | Accruing Loans, 90+ Days Past Due / June 30, 2025 | Increase (Decrease) From LQ | | --- | --- | --- | --- | --- | --- | --- | | Commercial | | | | | | | | Commercial and industrial | $37 | $35 | $63 | $10 | $10 | $2% | | Capital call lines | — | — | — | — | — | — | | Owner occupied commercial mortgage | 14 | 16 | 1 | — | 8 | (2) | | Investor dependent | — | — | — | — | — | — | | Commercial real estate | 197 | 185 | 171 | 191 | 113 | 12 | | Total commercial | 248 | 236 | 235 | 201 | 131 | 12 | | Consumer | | | | | | | | Residential mortgage | 7 | 7 | 7 | 6 | 5 | — | | Revolving mortgage | — | — | — | — | — | — | | Auto | — | — | — | — | — | — | | Other consumer | 1 | 2 | 2 | 2 | 2 | (1) | | Total consumer | 8 | 9 | 9 | 8 | 7 | (1) | | Total loans and leases | $256 | $245 | $244 | $209 | $138 | $11% | | As a percentage of total loans | | | | | | | | Commercial | | | | | | | | Commercial and industrial | 0.08% | 0.08% | 0.14% | 0.02% | 0.02% | — | | Capital call lines | — | — | — | — | — | — | | Owner occupied commercial mortgage | 0.08 | 0.09 | — | — | 0.04 | (1) | | Investor dependent | — | — | — | — | — | — | | Commercial real estate | 0.85 | 0.78 | 0.72 | 0.82 | 0.48 | 7 | | Total commercial | 0.20 | 0.19 | 0.19 | 0.17 | 0.12 | 1 | | Consumer | | | | | | | | Residential mortgage | 0.03 | 0.03 | 0.03 | 0.03 | 0.02 | — | | Revolving mortgage | — | 0.01 | — | — | — | (1) | | Auto | — | — | — | — | — | — | | Other consumer | 0.18 | 0.24 | 0.20 | 0.22 | 0.26 | (6) | | Total consumer | 0.03 | 0.04 | 0.03 | 0.03 | 0.03 | (1) | | Total loans and leases | 0.17% | 0.17% | 0.16% | 0.15% | 0.10% | — | Loans and Credit Quality | Nonaccrual Loans / dollars in millions | June 30, 2026 | March 31, 2026 | December 31, 2025 | September 30, 2025 | June 30, 2025 | Increase (Decrease) From LQ | | --- | --- | --- | --- | --- | --- | --- | | Commercial | | | | | | | | Commercial and industrial | $498 | $461 | $456 | $595 | $583 | $37% | | Capital call lines | — | — | — | — | — | — | | Owner occupied commercial mortgage | 153 | 162 | 159 | 158 | 92 | (9) | | Investor dependent | 41 | 37 | 49 | 61 | 69 | 4 | | Commercial real estate | 512 | 524 | 418 | 383 | 366 | (12) | | Total commercial | 1,204 | 1,184 | 1,082 | 1,197 | 1,110 | 20 | | Consumer | | | | | | | | Residential mortgage | 196 | 196 | 179 | 167 | 168 | — | | Revolving mortgage | 35 | 38 | 35 | 33 | 32 | (3) | | Auto | 10 | 10 | 9 | 8 | 8 | — | | Other consumer | 1 | 1 | 2 | 1 | 1 | — | | Total consumer | 242 | 245 | 225 | 209 | 209 | (3) | | Total loans and leases | $1,446 | $1,429 | $1,307 | $1,406 | $1,319 | $17% | | As a percentage of total loans | | | | | | | | Commercial | | | | | | | | Commercial and industrial | 1.07% | 1.01% | 1.02% | 1.33% | 1.33% | 6 | | Capital call lines | — | — | — | — | — | — | | Owner occupied commercial mortgage | 0.86 | 0.93 | 0.90 | 0.91 | 0.54 | (7) | | Investor dependent | 1.54 | 1.35 | 1.75 | 2.19 | 2.49 | 19 | | Commercial real estate | 2.20 | 2.21 | 1.76 | 1.65 | 1.55 | (1) | | Total commercial | 0.97 | 0.97 | 0.90 | 1.02 | 0.98 | — | | Consumer | | | | | | | | Residential mortgage | 0.91 | 0.90 | 0.82 | 0.74 | 0.74 | 1 | | Revolving mortgage | 1.23 | 1.31 | 1.22 | 1.18 | 1.16 | (8) | | Auto | 0.76 | 0.77 | 0.67 | 0.57 | 0.55 | (1) | | Other consumer | 0.16 | 0.14 | 0.19 | 0.13 | 0.12 | 2 | | Total consumer | 0.91 | 0.92 | 0.83 | 0.75 | 0.75 | (1) | | Total loans and leases | 0.96% | 0.96% | 0.88% | 0.97% | 0.93% | — | | Other Real Estate Owned | | | | | | | | dollars in millions | | | | | | | | Other real estate owned | $113 | $110 | $119 | $95 | $97 | $3% | | Criticized Commercial Loans (1) / dollars in millions | Criticized Commercial Loans (1) / June 30, 2026 | Criticized Commercial Loans (1) / March 31, 2026 | Criticized Commercial Loans (1) / December 31, 2025 | Criticized Commercial Loans (1) / September 30, 2025 | Criticized Commercial Loans (1) / June 30, 2025 | Increase (Decrease) From LQ | | --- | --- | --- | --- | --- | --- | --- | | Commercial and industrial | $3,272 | $3,434 | $3,487 | $3,678 | $3,856 | $(162)% | | Capital call lines | — | — | — | — | — | — | | Owner occupied commercial mortgage | 924 | 1,004 | 978 | 1,064 | 1,010 | (80) | | Investor dependent | 584 | 577 | 646 | 617 | 647 | 7 | | Commercial real estate | 1,557 | 1,620 | 1,779 | 1,816 | 1,899 | (63) | | Total criticized commercial loans | $6,337 | $6,635 | $6,890 | $7,175 | $7,412 | $(298)% | | As a percentage of total loans | | | | | | | | Commercial and industrial | 7.02% | 7.51% | 7.80% | 8.19% | 8.78% | (49) | | Capital call lines | — | — | — | — | — | — | | Owner occupied commercial mortgage | 5.16 | 5.74 | 5.54 | 6.17 | 5.93 | (58) | | Investor dependent | 22.28 | 21.28 | 23.22 | 22.26 | 23.30 | 100 | | Commercial real estate | 6.70 | 6.84 | 7.48 | 7.81 | 8.04 | (14) | | Total criticized commercial loans | 5.09% | 5.44% | 5.71% | 6.14% | 6.54% | (35) | | (1) Consists of commercial loans rated as special mention, substandard, or doubtful. | | | | | | | Loans and Credit Quality | Net Charge-offs / dollars in millions | Three Months Ended / June 30, 2026 | Three Months Ended / March 31, 2026 | Three Months Ended / December 31, 2025 | Three Months Ended / September 30, 2025 | Three Months Ended / June 30, 2025 | Increase (Decrease) From LQ | Six Months Ended / June 30, 2026 | Six Months Ended / June 30, 2025 | Increase (Decrease) From PYTD | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | Commercial | | | | | | | | | | | Commercial and industrial | $63 | $84 | $76 | $184 | $76 | $(21)% | $147 | $142 | $5% | | Capital call lines | — | — | — | — | — | — | — | — | — | | Owner occupied commercial mortgage | 1 | 4 | 4 | 2 | 1 | (3) | 5 | 1 | 4 | | Investor dependent | 12 | 5 | 20 | 17 | 19 | 7 | 17 | 53 | (36) | | Commercial real estate | 27 | 12 | 39 | 23 | 20 | 15 | 39 | 59 | (20) | | Total commercial | 103 | 105 | 139 | 226 | 116 | (2) | 208 | 255 | (47) | | Consumer | | | | | | | | | | | Residential mortgage | — | (1) | (1) | 4 | (1) | 1 | (1) | (1) | — | | Revolving mortgage | (1) | — | — | — | (1) | (1) | (1) | (1) | — | | Auto | 2 | 1 | 1 | — | 1 | 1 | 3 | 2 | 1 | | Other consumer | 4 | 6 | 4 | 4 | 4 | (2) | 10 | 8 | 2 | | Total consumer | 5 | 6 | 4 | 8 | 3 | (1) | 11 | 8 | 3 | | Total net charge-offs | $108 | $111 | $143 | $234 | $119 | $(3)% | $219 | $263 | $(44)% | | Net charge-off ratio (1) | | | | | | | | | | | Commercial | | | | | | | | | | | Commercial and industrial | 0.55% | 0.73% | 0.68% | 1.65% | 0.69% | (18) | 0.64% | 0.64% | — | | Capital call lines | — | — | — | — | — | — | — | — | — | | Owner occupied commercial mortgage | 0.02 | 0.09 | 0.09 | 0.05 | 0.01 | (7) | 0.05 | 0.01 | 4 | | Investor dependent | 1.82 | 0.77 | 2.88 | 2.44 | 2.71 | 105 | 1.29 | 3.61 | (232) | | Commercial real estate | 0.45 | 0.21 | 0.67 | 0.39 | 0.33 | 24 | 0.33 | 0.50 | (17) | | Total commercial | 0.33 | 0.34 | 0.47 | 0.78 | 0.41 | (1) | 0.34 | 0.45 | (11) | | Consumer | | | | | | | — | — | | | Residential mortgage | (0.01) | — | (0.02) | 0.07 | (0.02) | (1) | (0.01) | (0.01) | — | | Revolving mortgage | (0.01) | (0.04) | (0.02) | — | (0.02) | 3 | (0.03) | (0.03) | — | | Auto | 0.30 | 0.53 | 0.23 | 0.25 | 0.21 | (23) | 0.42 | 0.24 | 18 | | Other consumer | 2.08 | 2.28 | 1.54 | 1.42 | 1.68 | (20) | 2.16 | 1.65 | 51 | | Total consumer | 0.07 | 0.10 | 0.05 | 0.12 | 0.05 | (3) | 0.08 | 0.06 | 2 | | Total net charge-offs (2) | 0.29% | 0.30% | 0.39% | 0.65% | 0.33% | (1) | 0.29% | 0.37% | (8) | | (1) Annualized net charge-offs as a percentage of average loans (calculated as the average of beginning and ending balances unless otherwise noted). | | | | | | | | | | | (2) Annualized net charge-offs as a percentage of the average daily balance for the period. | | | | | | | | | | Loans and Credit Quality | Allowance for Loan and Lease Losses (ALLL) / dollars in millions | Three Months Ended / June 30, 2026 | Three Months Ended / March 31, 2026 | Three Months Ended / December 31, 2025 | Three Months Ended / September 30, 2025 | Three Months Ended / June 30, 2025 | Increase (Decrease) From LQ | Six Months Ended / June 30, 2026 | Six Months Ended / June 30, 2025 | Increase (Decrease) From PYTD | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | ALLL at beginning of period | $1,558 | $1,566 | $1,652 | $1,672 | $1,680 | $(0.5)% | $1,566 | $1,676 | $(6.5)% | | Provision for loan and lease losses | 34 | 103 | 57 | 214 | 111 | (67.5) | 137 | 259 | (47.0) | | Charge-offs | (130) | (132) | (174) | (256) | (144) | (2.0) | (262) | (311) | (16.0) | | Recoveries | 22 | 21 | 31 | 22 | 25 | 7.8 | 43 | 48 | (11.0) | | Net charge-offs | (108) | (111) | (143) | (234) | (119) | (3.8) | (219) | (263) | (16.6) | | ALLL at end of period | $1,484 | $1,558 | $1,566 | $1,652 | $1,672 | $(4.7)% | $1,484 | $1,672 | $(11.2)% | | Allowance for Loan and Lease Losses (ALLL) / dollars in millions | June 30, 2026 | March 31, 2026 | December 31, 2025 | September 30, 2025 | June 30, 2025 | Increase (Decrease) From LQ | | --- | --- | --- | --- | --- | --- | --- | | Commercial | | | | | | | | Commercial and industrial | $740 | $808 | $807 | $814 | $829 | $(68)% | | Capital call lines | 28 | 29 | 29 | 29 | 48 | (1) | | Owner occupied commercial mortgage | 60 | 52 | 50 | 52 | 53 | 8 | | Investor dependent | 170 | 166 | 181 | 201 | 177 | 4 | | Commercial real estate | 355 | 373 | 369 | 428 | 405 | (18) | | Total commercial | 1,353 | 1,428 | 1,436 | 1,524 | 1,512 | (75) | | Consumer | | | | | | | | Residential mortgage | 72 | 70 | 67 | 69 | 89 | 2 | | Revolving mortgage | 27 | 28 | 26 | 22 | 19 | (1) | | Auto | 10 | 9 | 9 | 10 | 9 | 1 | | Other consumer | 22 | 23 | 28 | 27 | 43 | (1) | | Total consumer | 131 | 130 | 130 | 128 | 160 | 1 | | Total ALLL | $1,484 | $1,558 | $1,566 | $1,652 | $1,672 | $(74)% | | As a percentage of loans | | | | | | | | Commercial | | | | | | | | Commercial and industrial | 1.59% | 1.77% | 1.80% | 1.82% | 1.89% | (18) | | Capital call lines | 0.08 | 0.09 | 0.09 | 0.10 | 0.18 | (1) | | Owner occupied commercial mortgage | 0.33 | 0.30 | 0.28 | 0.30 | 0.31 | 3 | | Investor dependent | 6.46 | 6.12 | 6.52 | 7.24 | 6.37 | 34 | | Commercial real estate | 1.53 | 1.58 | 1.55 | 1.84 | 1.72 | (5) | | Total commercial | 1.09 | 1.17 | 1.19 | 1.31 | 1.34 | (8) | | Consumer | | | | | | | | Residential mortgage | 0.33 | 0.32 | 0.31 | 0.30 | 0.39 | 1 | | Revolving mortgage | 0.94 | 0.96 | 0.89 | 0.78 | 0.70 | (2) | | Auto | 0.83 | 0.70 | 0.67 | 0.66 | 0.63 | 13 | | Other consumer | 2.75 | 2.71 | 2.62 | 2.54 | 4.32 | 4 | | Total consumer | 0.49 | 0.48 | 0.48 | 0.45 | 0.56 | 1 | | Total loans and leases | 0.98% | 1.05% | 1.06% | 1.14% | 1.18% | (7) | | Provision for Credit Losses / dollars in millions | Three Months Ended / June 30, 2026 | Three Months Ended / March 31, 2026 | Three Months Ended / December 31, 2025 | Three Months Ended / September 30, 2025 | June 30, 2025 | Increase (Decrease) From LQ | Six Months Ended / June 30, 2026 | Six Months Ended / June 30, 2025 | Increase (Decrease) From Prior YTD | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | Provision for loan and lease losses | $34 | $103 | $57 | $214 | $111 | $(67.5)% | $137 | $259 | (47.0)% | | (Benefit) provision for off-balance sheet credit exposure | (44) | (32) | (5) | (23) | 4 | (36.6) | (76) | 10 | nm | | Provision for other receivables | — | 1 | 2 | — | — | (100.0) | 1 | — | 100.0 | | (Benefit) provision for credit losses | $(10) | $72 | $54 | $191 | $115 | $(113.9)% | $62 | $269 | $(77.0)% | ### Statements of Income by Segment | General Bank / dollars in millions | Three Months Ended / June 30, 2026 | Three Months Ended / March 31, 2026 | Three Months Ended / December 31, 2025 | Three Months Ended / September 30, 2025 | Three Months Ended / June 30, 2025 | Increase (Decrease) From LQ | Six Months Ended / June 30, 2026 | Six Months Ended / June 30, 2025 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | Net interest income | $819 | $813 | $841 | $846 | $824 | $0.8% | $1,632 | $1,612 | $1.2% | | Total noninterest income | 187 | 172 | 170 | 166 | 164 | 8.5 | 359 | 328 | 9.3 | | Total revenue | 1,006 | 985 | 1,011 | 1,012 | 988 | 2.1 | 1,991 | 1,940 | 2.6 | | Personnel cost | 209 | 215 | 211 | 210 | 207 | (2.9) | 424 | 417 | 1.5 | | All other noninterest expense | 392 | 385 | 393 | 372 | 373 | 1.8 | 777 | 728 | 6.6 | | Total noninterest expense | 601 | 600 | 604 | 582 | 580 | 0.1 | 1,201 | 1,145 | 4.8 | | Provision for credit losses | 54 | 17 | 17 | 1 | 13 | 215.5 | 71 | 59 | 20.9 | | Income before income taxes | 351 | 368 | 390 | 429 | 395 | (4.6) | 719 | 736 | (2.3) | | Income tax expense | 85 | 90 | 82 | 109 | 101 | (5.6) | 175 | 189 | (7.4) | | Net income | $266 | $278 | $308 | $320 | $294 | $(4.2)% | $544 | $547 | $(0.5)% | | Commercial Bank / dollars in millions | Three Months Ended / June 30, 2026 | Three Months Ended / March 31, 2026 | Three Months Ended / December 31, 2025 | Three Months Ended / September 30, 2025 | Three Months Ended / June 30, 2025 | Increase (Decrease) From LQ | Six Months Ended / June 30, 2026 | Six Months Ended / June 30, 2025 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | Net interest income | $805 | $802 | $834 | $796 | $789 | $0.5% | $1,607 | $1,575 | $2.0% | | Noninterest Income | | | | | | | | | | | Rental income on operating lease equipment | 54 | 55 | 55 | 54 | 54 | (2.6) | 109 | 110 | (1.4) | | All other noninterest income | 270 | 230 | 241 | 236 | 228 | 17.5 | 500 | 429 | 16.7 | | Total noninterest income | 324 | 285 | 296 | 290 | 282 | 13.6 | 609 | 539 | 13.0 | | Total revenue | 1,129 | 1,087 | 1,130 | 1,086 | 1,071 | 3.9 | 2,216 | 2,114 | 4.8 | | Noninterest Expense | | | | | | | | | | | Personnel cost | 186 | 199 | 180 | 184 | 183 | (6.3) | 385 | 373 | 3.6% | | Depreciation on operating lease equipment | 43 | 43 | 44 | 43 | 44 | — | 86 | 88 | (2.6) | | All other noninterest expense | 400 | 404 | 432 | 412 | 422 | (1.2) | 804 | 842 | (4.6) | | Total noninterest expense | 629 | 646 | 656 | 639 | 649 | (2.7) | 1,275 | 1,303 | (2.1) | | (Benefit) provision for credit losses | (64) | 55 | 37 | 190 | 102 | (216.5) | (9) | 210 | (104.3) | | Income before income taxes | 564 | 386 | 437 | 257 | 320 | 46.4 | 950 | 601 | 58.1 | | Income tax expense | 136 | 95 | 102 | 64 | 82 | 44.4 | 231 | 154 | 49.5 | | Net income | $428 | $291 | $335 | $193 | $238 | $47.1% | $719 | $447 | $61.0% | | Rental Income on Operating Lease Equipment (non-GAAP) / dollars in millions | Three Months Ended / June 30, 2026 | Three Months Ended / March 31, 2026 | Three Months Ended / December 31, 2025 | Three Months Ended / September 30, 2025 | Three Months Ended / June 30, 2025 | Increase (Decrease) From LQ | Six Months Ended / June 30, 2026 | Six Months Ended / June 30, 2025 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | Rental income on operating leases (GAAP) | $54 | $55 | $55 | $54 | $54 | $(2.6)% | $109 | $110 | $(1.4)% | | Less: depreciation on operating lease equipment | 43 | 43 | 44 | 43 | 44 | — | 86 | 88 | (2.6) | | Adjusted rental income on operating lease equipment (non-GAAP) | $11 | $12 | $11 | $11 | $10 | $(8.3)% | $23 | $22 | $4.6% | ### Statements of Income by Segment | Rail / dollars in millions | Three Months Ended / June 30, 2026 | Three Months Ended / March 31, 2026 | Three Months Ended / December 31, 2025 | Three Months Ended / September 30, 2025 | Three Months Ended / June 30, 2025 | Increase (Decrease) From LQ | Six Months Ended / June 30, 2026 | Six Months Ended / June 30, 2025 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | Net interest expense | $(59) | $(58) | $(53) | $(55) | $(53) | $(2.1)% | $(117) | $(105) | $(11)% | | Noninterest Income | | | | | | | | | | | Rental income on operating lease equipment | 226 | 226 | 226 | 219 | 218 | — | 452 | 432 | 4.7 | | All other noninterest income | 7 | 9 | 9 | 2 | 3 | (28.0) | 16 | 5 | 185.5 | | Total noninterest income | 233 | 235 | 235 | 221 | 221 | (0.6) | 468 | 437 | 7.0 | | Total revenue | 174 | 177 | 182 | 166 | 168 | (1.5) | 351 | 332 | 5.8 | | Noninterest Expense | | | | | | | | | | | Personnel cost | 6 | 8 | 6 | 6 | 6 | (14.6) | 14 | 14 | — | | Depreciation on operating lease equipment | 58 | 58 | 58 | 55 | 56 | — | 116 | 110 | 5.7 | | Maintenance and other operating lease expenses | 67 | 65 | 64 | 67 | 55 | 3.4 | 132 | 113 | 16.5 | | All other noninterest expense | 18 | 17 | 16 | 16 | 26 | 1.5 | 35 | 40 | (15.0) | | Total noninterest expense | 149 | 148 | 144 | 144 | 143 | 1.4 | 297 | 277 | 6.9 | | Income before income taxes | 25 | 29 | 38 | 22 | 25 | (15.4) | 54 | 55 | (1.0) | | Income tax expense | 6 | 7 | 9 | 5 | 6 | (16.6) | 13 | 14 | (5.0) | | Net income | $19 | $22 | $29 | $17 | $19 | $(15.1)% | $41 | $41 | — | | Rental Income on Operating Lease Equipment (non-GAAP) / dollars in millions | Three Months Ended / June 30, 2026 | Three Months Ended / March 31, 2026 | Three Months Ended / December 31, 2025 | Three Months Ended / September 30, 2025 | Three Months Ended / June 30, 2025 | Increase (Decrease) From LQ | Six Months Ended / June 30, 2026 | Six Months Ended / June 30, 2025 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | Rental income on operating leases (GAAP) | $226 | $226 | $226 | $219 | $218 | — | $452 | $432 | $4.7% | | Less: depreciation on operating lease equipment | 58 | 58 | 58 | 55 | 56 | — | 116 | 110 | 5.7 | | Less: maintenance and other operating lease expenses | 67 | 65 | 64 | 67 | 55 | 3.4 | 132 | 113 | 16.5 | | Adjusted rental income on operating lease equipment (non-GAAP) | $101 | $103 | $104 | $97 | $107 | $(1.9)% | $204 | $209 | $(2.4)% | | Corporate (1) / dollars in millions | Three Months Ended / June 30, 2026 | Three Months Ended / March 31, 2026 | Three Months Ended / December 31, 2025 | Three Months Ended / September 30, 2025 | Three Months Ended / June 30, 2025 | Increase (Decrease) From LQ | Six Months Ended / June 30, 2026 | Six Months Ended / June 30, 2025 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | Net interest income | $91 | $64 | $100 | $147 | $135 | $40.7% | $155 | $276 | $(43.7)% | | Total noninterest income | 32 | — | 14 | 22 | 11 | 100.0 | 32 | 9 | 268.9 | | Total revenue | 123 | 64 | 114 | 169 | 146 | 89.9 | 187 | 285 | (34.1) | | Personnel cost | 443 | 447 | 452 | 417 | 414 | (1.1) | 890 | 824 | 8.0 | | Acquisition-related expenses | 8 | 5 | 33 | 28 | 38 | 90.4 | 13 | 80 | (83.7) | | All other noninterest expense (2) | (279) | (310) | (317) | (319) | (324) | 9.8 | (589) | (636) | 7.6 | | Total noninterest expense | 172 | 142 | 168 | 126 | 128 | 20.6 | 314 | 268 | 17.7 | | Provision for credit losses | — | — | — | — | — | — | — | — | — | | (Loss) Income before income taxes | (49) | (78) | (54) | 43 | 18 | 36.9 | (127) | 17 | NM | | Income tax (benefit) expense | (8) | (21) | 38 | 5 | (6) | 56.8 | (29) | (6) | (336.7) | | Net (loss) income | $(41) | $(57) | $(92) | $38 | $24 | $29.9% | $(98) | $23 | $(517.2)% | (1) BancShares’ segments include the General Bank, Commercial Bank, and Rail. All other financial information not included in the segments is reported in the Corporate section of the segment disclosures. (2) Under BancShares’ segment expense allocation methodology, allocated expenses increase noninterest expense of the applicable segment(s), with an offsetting decrease to Corporate noninterest expense. “All other noninterest expense” in the table above includes the effect of allocated expenses, resulting in a reduction to expense (i.e contra expense) for Corporate. Loans and Deposits by Segment | Loans and Leases / dollars in millions | June 30, 2026 | March 31, 2026 | December 31, 2025 | September 30, 2025 | June 30, 2025 | Increase (Decrease) From LQ | | --- | --- | --- | --- | --- | --- | --- | | At Period End | | | | | | | | General Bank | $64,355 | $64,367 | $64,958 | $65,225 | $64,987 | — | | Commercial Bank | 86,635 | 84,263 | 82,910 | 79,470 | 76,220 | 2.8 | | Rail and Corporate | 44 | 62 | 62 | 63 | 62 | (29.0) | | Total loans and leases | $151,034 | $148,692 | $147,930 | $144,758 | $141,269 | $1.6% | | | Three Months Ended | | | | | Increase (Decrease) From LQ | | dollars in millions | June 30, 2026 | March 31, 2026 | December 31, 2025 | September 30, 2025 | June 30, 2025 | | | Average Balances | | | | | | | | General Bank | $64,385 | $64,884 | $65,324 | $65,059 | $64,949 | $$$$(0.8)%% | | Commercial Bank | 85,425 | 83,993 | 81,400 | 77,608 | 76,700 | 1.7 | | Rail and Corporate | 284 | 244 | 220 | 190 | 142 | 16.4 | | Total loans and leases | $150,094 | $149,121 | $146,944 | $142,857 | $141,791 | $$$$0.7%% | | Deposits / dollars in millions | June 30, 2026 | March 31, 2026 | December 31, 2025 | September 30, 2025 | June 30, 2025 | Increase (Decrease) From LQ | | --- | --- | --- | --- | --- | --- | --- | | At Period End | | | | | | | | General Bank | $75,718 | $75,914 | $74,796 | $74,596 | $73,499 | $(0.3)% | | Commercial Bank | 45,690 | 47,191 | 41,532 | 42,869 | 40,697 | (3.2) | | Rail | 2 | 2 | 2 | 2 | 3 | — | | Corporate- Direct Bank | 48,222 | 45,408 | 44,802 | 45,146 | 45,111 | 6.2 | | Corporate- other (1) | 3,795 | 2,327 | 446 | 577 | 625 | 63.1 | | Corporate | 52,017 | 47,735 | 45,248 | 45,723 | 45,736 | 9.0 | | Total deposits | $173,427 | $170,842 | $161,578 | $163,190 | $159,935 | $1.5% | | | Three Months Ended | | | | | Increase (Decrease) From LQ | | dollars in millions | June 30, 2026 | March 31, 2026 | December 31, 2025 | September 30, 2025 | June 30, 2025 | | | Average Balances | | | | | | | | General Bank | $75,603 | $75,199 | $75,398 | $73,882 | $73,645 | $$$$0.5%% | | Commercial Bank | 45,200 | 44,546 | 42,273 | 40,619 | 38,497 | 1.5 | | Rail | 2 | 2 | 2 | 2 | 7 | — | | Corporate- Direct Bank | 46,493 | 44,883 | 44,818 | 45,221 | 44,444 | 3.6 | | Corporate- other (1) | 3,341 | 1,297 | 700 | 900 | 1,071 | 157.6 | | Corporate | 49,834 | 46,180 | 45,518 | 46,121 | 45,515 | 7.9 | | Total deposits | $170,639 | $165,927 | $163,191 | $160,624 | $157,664 | $$$$2.8%% | (1) Includes brokered and other deposits not allocated to the General Bank, Commercial Bank or Rail segments. Purchase Accounting Summary | dollars in millions | June 30, 2026 | March 31, 2026 | December 31, 2025 | September 30, 2025 | June 30, 2025 | | --- | --- | --- | --- | --- | --- | | Loans and leases (including off-balance sheet exposure) (1) | | | | | | | Beginning balance - unamortized fair value mark | $(1,300) | $(1,351) | $(1,411) | $(1,483) | $(1,561) | | Other | 5 | 3 | 1 | 1 | 3 | | Accretion | 55 | 48 | 59 | 71 | 75 | | Ending balance | $(1,240) | $(1,300) | $(1,351) | $(1,411) | $(1,483) | | Core deposits and other intangibles | | | | | | | Beginning balance | $182 | $195 | $208 | $221 | $234 | | Amortization | (11) | (13) | (13) | (13) | (13) | | Ending balance | $171 | $182 | $195 | $208 | $221 | | Borrowings (2) | | | | | | | Beginning balance - unamortized fair value mark | $61 | $78 | $97 | $107 | $116 | | Amortization | (7) | (9) | (10) | (10) | (9) | | Loss on extinguishment of debt | (7) | (8) | (9) | — | — | | Ending balance | $47 | $61 | $78 | $97 | $107 | Note – The summary above only includes select information and is not intended to represent all purchase accounting adjustments. (1) Purchase accounting marks on loans and leases is comprised of credit, interest and liquidity components, and are generally recognized using the level-yield or straight-line method over the remaining life of the receivable or in full in the event of prepayment. (2) Purchase accounting marks on borrowings represent interest rate marks and are recognized using the level-yield method over the remaining term of the liability. Non-GAAP Reconciliations | dollars in millions, except share and per share data | Three Months Ended / June 30, 2026 | Three Months Ended / March 31, 2026 | Three Months Ended / December 31, 2025 | Three Months Ended / September 30, 2025 | Three Months Ended / June 30, 2025 | Six Months Ended / June 30, 2026 | Six Months Ended / June 30, 2025 | | --- | --- | --- | --- | --- | --- | --- | --- | | Net income and EPS | | | | | | | | | Net income (GAAP) | $672 | $534 | $580 | $568 | $575 | $1,206 | $1,058 | | Preferred stock dividends | 32 | 26 | 14 | 14 | 14 | 58 | 29 | | Net income available to common stockholders (GAAP) | $640 | $508 | $566 | $554 | $561 | $1,148 | $1,029 | | Total notable items, after income tax | 19 | 26 | 68 | 19 | 32 | 45 | 77 | | Adjusted net income (non-GAAP) | 691 | 560 | 648 | 587 | 607 | 1,251 | 1,135 | | Adjusted net income available to common stockholders (non-GAAP) | $659 | $534 | $634 | $573 | $593 | $1,193 | $1,106 | | Weighted average common shares outstanding | | | | | | | | | Basic | 11,535,792 | 11,924,899 | 12,363,028 | 12,849,339 | 13,237,226 | 11,729,271 | 13,405,295 | | Diluted | 11,535,792 | 11,924,899 | 12,363,028 | 12,849,339 | 13,237,226 | 11,729,271 | 13,405,295 | | EPS (GAAP) | | | | | | | | | Basic | $55.52 | $42.63 | $45.81 | $43.08 | $42.36 | $97.95 | $76.73 | | Diluted | 55.52 | 42.63 | 45.81 | 43.08 | 42.36 | 97.95 | 76.73 | | Adjusted EPS (non-GAAP) | | | | | | | | | Basic | $57.09 | $44.86 | $51.27 | $44.62 | $44.78 | $101.76 | $82.48 | | Diluted | 57.09 | 44.86 | 51.27 | 44.62 | 44.78 | 101.76 | 82.48 | | Noninterest income and expense | | | | | | | | | Noninterest income (GAAP) | $776 | $692 | $715 | $699 | $678 | $1,468 | $1,313 | | Impact of notable items, before income tax | (190) | (172) | (186) | (181) | (165) | (362) | (321) | | Adjusted noninterest income (non-GAAP) | $586 | $520 | $529 | $518 | $513 | $1,106 | $992 | | Noninterest expense (GAAP) | $1,551 | $1,536 | $1,572 | $1,491 | $1,500 | $3,087 | $2,993 | | Impact of notable items, before income tax | (205) | (206) | (204) | (212) | (221) | (411) | (437) | | Adjusted noninterest expense (non-GAAP) | $1,346 | $1,330 | $1,368 | $1,279 | $1,279 | $2,676 | $2,556 | | PPNR | | | | | | | | | Net income (GAAP) | $672 | $534 | $580 | $568 | $575 | $1,206 | $1,058 | | Plus: (benefit) provision for credit losses | (10) | 72 | 54 | 191 | 115 | 62 | 269 | | Plus: income tax expense | 219 | 171 | 231 | 183 | 183 | 390 | 351 | | PPNR (non-GAAP) | $881 | $777 | $865 | $942 | $873 | $1,658 | $1,678 | | Impact of notable items (1) | 15 | 34 | 18 | 31 | 56 | 49 | 116 | | Adjusted PPNR (non-GAAP) | $896 | $811 | $883 | $973 | $929 | $1,707 | $1,794 | | (1) Excludes the impact of notable items on income taxes as this is excluded from PPNR as presented in the table above. | | | | | | | | | Note: Certain items above do not precisely recalculate as presented due to rounding. | | | | | | | | Non-GAAP Reconciliations | dollars in millions | Three Months Ended / June 30, 2026 | Three Months Ended / March 31, 2026 | Three Months Ended / December 31, 2025 | Three Months Ended / September 30, 2025 | Three Months Ended / June 30, 2025 | Six Months Ended / June 30, 2026 | Six Months Ended / June 30, 2025 | | --- | --- | --- | --- | --- | --- | --- | --- | | ROA | | | | | | | | | Net income (GAAP) | $672 | $534 | $580 | $568 | $575 | $1,206 | $1,058 | | Annualized net income | 2,699 | 2,164 | 2,303 | 2,254 | 2,307 | 2,433 | 2,133 | | Adjusted net income (non-GAAP) | 691 | 560 | 648 | 587 | 607 | 1,251 | 1,135 | | Annualized adjusted net income | 2,771 | 2,272 | 2,571 | 2,332 | 2,435 | 2,523 | 2,288 | | Average assets | 235,200 | 233,181 | 233,432 | 230,529 | 227,552 | 234,197 | 226,506 | | ROA | 1.15% | 0.93% | 0.99% | 0.98% | 1.01% | 1.04% | 0.94% | | Adjusted ROA (non-GAAP) | 1.18 | 0.97 | 1.10 | 1.01 | 1.07 | 1.08 | 1.01 | | PPNR ROA | | | | | | | | | PPNR (non-GAAP) | $881 | $777 | $865 | $942 | $873 | $1,658 | $1,678 | | Annualized PPNR | 3,536 | 3,152 | 3,430 | 3,738 | 3,501 | 3,345 | 3,383 | | Adjusted PPNR (non-GAAP) | 896 | 811 | 883 | 973 | 929 | 1,707 | 1,794 | | Annualized adjusted PPNR | 3,595 | 3,288 | 3,504 | 3,860 | 3,728 | 3,442 | 3,618 | | PPNR ROA (non-GAAP) | 1.50% | 1.35% | 1.47% | 1.62% | 1.54% | 1.43% | 1.49% | | Adjusted PPNR ROA (non-GAAP) | 1.53 | 1.41 | 1.50 | 1.67 | 1.64 | 1.47 | 1.60 | | ROE and ROTCE | | | | | | | | | Annualized net income available to common stockholders | $2,569 | $2,062 | $2,247 | $2,196 | $2,249 | $2,317 | $2,074 | | Annualized adjusted net income available to common stockholders | $2,642 | $2,170 | $2,515 | $2,275 | $2,377 | $2,407 | $2,230 | | Average stockholders' equity (GAAP) | $22,180 | $22,487 | $22,197 | $22,291 | $22,488 | $22,332 | $22,472 | | Less: average preferred stock | 1,765 | 1,613 | 1,117 | 881 | 881 | 1,689 | 881 | | Average common stockholders' equity | $20,415 | $20,874 | $21,080 | $21,410 | $21,607 | $20,643 | $21,591 | | Less: average goodwill | 346 | 346 | 346 | 346 | 346 | 346 | 346 | | Less: average other intangible assets | 179 | 191 | 204 | 216 | 229 | 185 | 236 | | Average tangible common equity (non-GAAP) | $19,890 | $20,337 | $20,530 | $20,848 | $21,032 | $20,112 | $21,009 | | ROE | 12.58% | 9.88% | 10.66% | 10.26% | 10.41% | 11.22% | 9.61% | | Adjusted ROE (non-GAAP) | 12.94 | 10.39 | 11.93 | 10.62 | 11.00 | 11.66 | 10.33 | | ROTCE (non-GAAP) | 12.92 | 10.14 | 10.94 | 10.53 | 10.69 | 11.52 | 9.87 | | Adjusted ROTCE (non-GAAP) | 13.28 | 10.67 | 12.25 | 10.91 | 11.30 | 11.97 | 10.61 | | Tangible common equity to tangible assets at period end | | | | | | | | | Stockholders' equity (GAAP) | $21,900 | $22,048 | $22,238 | $21,986 | $22,296 | | | | Less: preferred stock | 1,765 | 1,765 | 1,375 | 881 | 881 | | | | Common equity | $20,135 | $20,283 | $20,863 | $21,105 | $21,415 | | | | Less: goodwill | 346 | 346 | 346 | 346 | 346 | | | | Less: other intangible assets | 171 | 182 | 195 | 208 | 221 | | | | Tangible common equity (non-GAAP) | $19,618 | $19,755 | $20,322 | $20,551 | $20,848 | | | | Total assets (GAAP) | 236,842 | 235,959 | 229,698 | 233,488 | 229,653 | | | | Tangible assets (non-GAAP) | 236,325 | 235,431 | 229,157 | 232,934 | 229,086 | | | | Total equity to total assets (GAAP) | 9.25% | 9.34% | 9.68% | 9.42% | 9.71% | | | | Tangible common equity to tangible assets (non-GAAP) | 8.30 | 8.39 | 8.87 | 8.82 | 9.10 | | | | Note: Certain items above do not precisely recalculate as presented due to rounding. | | | | | | | | Non-GAAP Reconciliations | dollars in millions, except share and per share data | Three Months Ended / June 30, 2026 | Three Months Ended / March 31, 2026 | Three Months Ended / December 31, 2025 | Three Months Ended / September 30, 2025 | Three Months Ended / June 30, 2025 | Six Months Ended / June 30, 2026 | Six Months Ended / June 30, 2025 | | --- | --- | --- | --- | --- | --- | --- | --- | | Book value and tangible book value per common share at period end | | | | | | | | | Common shares outstanding at period end | 11,390,407 | 11,689,314 | 12,139,159 | 12,618,629 | 13,075,979 | | | | Book value per share | $1,767.79 | $1,735.18 | $1,718.71 | $1,672.54 | $1,637.72 | | | | Tangible book value per common share (non-GAAP) | 1,722.35 | 1,689.96 | 1,674.11 | 1,628.64 | 1,594.38 | | | | Efficiency ratio | | | | | | | | | Net interest income | $1,656 | $1,621 | $1,722 | $1,734 | $1,695 | $3,277 | $3,358 | | Efficiency ratio (GAAP) | 63.75% | 66.41% | 64.53% | 61.27% | 63.22% | 65.05% | 64.08% | | Adjusted efficiency ratio (non-GAAP) | 60.05 | 62.13 | 60.79 | 56.78 | 57.92 | 61.06 | 58.75 | | Rental income on operating lease equipment | | | | | | | | | Rental income on operating lease equipment (GAAP) | $280 | $281 | $281 | $273 | $272 | $561 | $542 | | Less: depreciation on operating lease equipment | 101 | 101 | 102 | 98 | 100 | 202 | 198 | | Less: maintenance and other operating lease expenses | 67 | 65 | 64 | 67 | 55 | 132 | 113 | | Adjusted rental income on operating lease equipment (non-GAAP) | $112 | $115 | $115 | $108 | $117 | $227 | $231 | | Rental income on operating lease equipment: Commercial Bank Segment | | | | | | | | | Rental income on operating leases (GAAP) | $54 | $55 | $55 | $54 | $54 | $109 | $110 | | Less: depreciation on operating lease equipment | 43 | 43 | 44 | 43 | 44 | 86 | 88 | | Adjusted rental income on operating lease equipment (non-GAAP) | $11 | $12 | $11 | $11 | $10 | $23 | $22 | | Rental income on operating lease equipment: Rail Segment | | | | | | | | | Rental income on operating leases (GAAP) | $226 | $226 | $226 | $219 | $218 | $452 | $432 | | Less: depreciation on operating lease equipment | 58 | 58 | 58 | 55 | 56 | 116 | 110 | | Less: maintenance and other operating lease expenses | 67 | 65 | 64 | 67 | 55 | 132 | 113 | | Adjusted rental income on operating lease equipment (non-GAAP) | $101 | $103 | $104 | $97 | $107 | $204 | $209 | Non-GAAP Reconciliations | dollars in millions | Three Months Ended / June 30, 2026 | Three Months Ended / March 31, 2026 | Three Months Ended / December 31, 2025 | Three Months Ended / September 30, 2025 | Three Months Ended / June 30, 2025 | Six Months Ended / June 30, 2026 | Six Months Ended / June 30, 2025 | | --- | --- | --- | --- | --- | --- | --- | --- | | Net interest income & Net interest margin | | | | | | | | | Net interest income (GAAP) | $1,656 | $1,621 | $1,722 | $1,734 | $1,695 | $3,277 | $3,358 | | Loan PAA | 55 | 48 | 59 | 71 | 75 | 103 | 159 | | Other PAA | (7) | (9) | (10) | (10) | (9) | (16) | (17) | | PAA | $48 | $39 | $49 | $61 | $66 | $87 | $142 | | Net interest income, excluding PAA (non-GAAP) | $1,608 | $1,582 | $1,673 | $1,673 | $1,629 | $3,190 | $3,216 | | Annualized net interest income | $6,642 | $6,575 | $6,834 | $6,878 | $6,800 | $6,609 | $6,772 | | Annualized net interest income, excluding PAA | 6,451 | 6,416 | 6,640 | 6,637 | 6,533 | 6,434 | 6,486 | | Average interest-earning assets | 213,990 | 212,552 | 213,294 | 211,042 | 208,175 | 213,276 | 207,108 | | NIM (GAAP) | 3.10% | 3.09% | 3.20% | 3.26% | 3.26% | 3.09% | 3.26% | | NIM, excluding PAA (non-GAAP) | 3.01 | 3.01 | 3.11 | 3.15 | 3.14 | 3.01 | 3.13 | | Interest income on loans (GAAP) | $2,253 | $2,206 | $2,290 | $2,300 | $2,270 | $4,459 | $4,506 | | Less: loan PAA | 55 | 48 | 59 | 71 | 75 | 103 | 159 | | Interest income on loans, excluding loan PAA (non-GAAP) | $2,198 | $2,158 | $2,231 | $2,229 | $2,195 | $4,356 | $4,347 | | Personnel cost | | | | | | | | | Personnel cost (GAAP) | $844 | $869 | $849 | $817 | $810 | $1,713 | $1,628 | | Less: impact of notable items | 8 | 12 | — | 6 | — | 20 | — | | Adjusted personnel cost (non-GAAP) | $836 | $857 | $849 | $811 | $810 | $1,693 | $1,628 | | Professional fees | | | | | | | | | Professional fees (GAAP) | $26 | $24 | $34 | $26 | $30 | $50 | $55 | | Less: impact of notable items | 5 | 6 | — | — | — | 11 | — | | Adjusted professional fees (non-GAAP) | $21 | $18 | $34 | $26 | $30 | $39 | $55 | | Note: Certain items above do not precisely recalculate as presented due to rounding. | | | | | | | |