Old National Bancorp Reports Third Quarter 2025 Results

Old National Bancorp

EVANSVILLE, Ind., Oct. 22, 2025 (GLOBE NEWSWIRE) --

Old National Bancorp (NASDAQ: ONB) reports 3Q25 net income applicable to common shares of $178.5 million,
diluted EPS of $0.46; $231.3 million and $0.59 on an adjusted1 basis, respectively.

CEO COMMENTARY:

"Old National's outstanding quarterly results reflect our continued focus on the fundamentals and the benefits from
our recent partnership with Bremer Bank," said Chairman and CEO Jim Ryan. "Furthermore, with conversion activities
related to our Bremer partnership now complete, Old National is exceptionally well positioned for the remainder of
2025 and beyond."

THIRD QUARTER HIGHLIGHTS2:

Net Income Net income applicable to common shares of $178.5 million; adjusted net income applicable to common shares1 of $231.3 million Earnings per diluted common share ("EPS") of $0.46; adjusted EPS1 of $0.59 Net Interest Income/NIM Net interest income on a fully taxable equivalent basis1 of $582.6 million Net interest margin on a fully taxable equivalent basis1 ("NIM") of 3.64%, up 11 basis points ("bps") Operating Performance Pre-provision net revenue1 ("PPNR") of $267.3 million; adjusted PPNR1 of $336.6 million, up 16% Noninterest expense of $445.7 million; adjusted noninterest expense1 of $376.5 million Efficiency ratio1 of 58.8%; adjusted efficiency ratio1 of 48.1% Deposits and Funding Period-end total deposits of $55.0 billion, up 4.8% annualized; core deposits up 5.8% annualized Granular low-cost deposit franchise; total deposit costs of 197 bps, up 4 bps Loans and Credit  Quality End-of-period total loans3 of $48.0 billion, up 0.6% annualized

End-of-period total loans3 up 3.1% annualized excluding loans acquired from Bremer Provision for credit losses4 ("provision") of $26.7 million Net charge-offs of $30.0 million, or 25 bps of average loans; 17 bps excluding purchased credit deteriorated ("PCD") loans that had an allowance at acquisition 30+ day delinquencies of 0.18% and nonaccrual loans of 1.23% of total loans Return Profile & Capital Return on average tangible common equity1 ("ROATCE") of 15.9%; adjusted ROATCE1 of 20.1% Preliminary regulatory Tier 1 common equity to risk-weighted assets of 11.02%, up 28 bps Notable Items $69.3 million of pre-tax merger-related charges

1 Non-GAAP financial measure that management believes is useful in evaluating the financial results of the Company – refer to the Non-GAAP reconciliations contained in this release 2 Comparisons are on a linked-quarter basis, unless otherwise noted 3 Includes loans held-for-sale 4 Includes the provision for unfunded commitments

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RESULTS OF OPERATIONS2
Old National Bancorp reported third quarter 2025 net income applicable to common shares of $178.5 million, or $0.46 per diluted common share.

Included in third quarter results were pre-tax charges of $69.3 million for merger-related expenses. Excluding these items and realized debt securities losses from the current quarter, adjusted net income1 was $231.3 million, or $0.59 per diluted common share.

DEPOSITS AND FUNDING
Growth in core deposits driven by growth from both existing and new commercial clients.

Period-end total deposits were $55.0 billion, up 4.8% annualized; core deposits up 5.8% annualized. On average, total deposits for the third quarter were $54.9 billion, up $5.1 billion. Granular low-cost deposit franchise; total deposit costs of 197 bps, up 4 bps. A loan to deposit ratio of 87%, combined with existing funding sources, provides strong liquidity.

LOANS
Loan growth driven by strong commercial loan production partially offset by proactive portfolio actions.

Period-end total loans3 were $48.0 billion, up 0.6% annualized.

Excluding loans3 acquired in the Bremer transaction, period-end total loans were up 3.1% annualized. Total commercial loan production in the third quarter was $2.8 billion, up 20% from the second quarter of 2025; period-end commercial pipeline totaled $4.2 billion. Average total loans in the third quarter were $48.2 billion, an increase of $4.1 billion.

CREDIT QUALITY
Resilient credit quality continues to be a hallmark of Old National.

Provision4 expense was $26.7 million compared to $106.8 million, or $31.2 million excluding $75.6 million of current expected credit loss ("CECL") Day 1 non-PCD provision expense related to the allowance for credit losses established on acquired non-PCD loans (including unfunded loan commitments) in the Bremer transaction in the second quarter of 2025. Net charge-offs were $30.0 million, or 25 bps of average loans, compared to 24 bps in the prior quarter.

Excluding PCD loans that had an allowance for credit losses established at acquisition, net charge-offs to average loans were 17 bps compared to 21 bps in the prior quarter. 30+ day delinquencies as a percentage of loans were 0.18% compared to 0.30%. Nonaccrual loans as a percentage of total loans were 1.23% compared to 1.24%. The allowance for credit losses, including the allowance for credit losses on unfunded loan commitments, stood at $604.5 million, or 1.26% of total loans, compared to $594.7 million, or 1.24% of total loans.

NET INTEREST INCOME AND MARGIN
Higher reflective of larger balance sheet and higher asset yields.

Net interest income on a fully taxable equivalent basis1 increased to $582.6 million compared to $521.9 million, driven by the full quarter impact of Bremer, higher asset yields and more days in the quarter, partly offset by higher funding costs. Net interest margin on a fully taxable equivalent basis1 increased 11 bps to 3.64%. Cost of total deposits was 1.97%, increasing 4 bps and the cost of total interest-bearing deposits increased 5 bps to 2.57%.

NONINTEREST INCOME
Increase driven by full quarter impact of Bremer, organic growth and record capital markets revenue.

Total noninterest income was $130.5 million compared to $132.5 million, or $111.6 million excluding a $21.0 million pre-tax gain associated with the freezing of benefits of the Bremer pension plan in the second quarter of 2025. Excluding the pension plan gain in the second quarter of 2025 and realized debt securities losses, noninterest income was up 16.9% driven by the full quarter impact of Bremer, organic growth and record capital markets revenue.

NONINTEREST EXPENSE
Higher reflective of the full quarter impact of Bremer, disciplined expense management drives adjusted efficiency ratio lower.

Noninterest expense was $445.7 million and included $69.3 million of merger-related charges. Excluding merger-related charges, adjusted noninterest expense1 was $376.5 million, compared to $343.6 million, driven by the full quarter impact of Bremer. The efficiency ratio1 was 58.8%, while the adjusted efficiency ratio1 was 48.1% compared to 55.8% and 50.2%, respectively.

INCOME TAXES

Income tax expense was $50.0 million, resulting in an effective tax rate of 21.5% compared to 19.5%. On an adjusted fully taxable equivalent ("FTE") basis, the effective tax rate was 24.0% compared to 24.6%.

The effective tax rate for the second quarter of 2025 was impacted by the Bremer transaction. Income tax expense included $7.8 million of tax credit benefit compared to $5.8 million.

CAPITAL
Capital ratios remain strong.

Preliminary total risk-based capital up 19 bps to 12.78% and preliminary regulatory Tier 1 capital up 29 bps to 11.49%, as strong retained earnings drive capital. Tangible common equity to tangible assets was 7.53%, up 3.7%. The Company repurchased 1.1 million shares of common stock during the quarter.

CONFERENCE CALL AND WEBCAST
Old National will host a conference call and live webcast at 9:00 a.m. Central Time on Wednesday, October 22, 2025, to review third quarter financial results. The live audio webcast link and corresponding presentation slides will be available on the Company’s Investor Relations website at oldnational.com and will be archived there for 12 months. To listen to the live conference call, dial U.S. (800) 715-9871 or International (646) 307-1963, access code 9394540. The telephone replay will be available approximately one hour after completion of the call until midnight Eastern Time on November 5, 2025. To access the replay, dial U.S. (800) 770-2030 or International (609) 800-9909; Access code 9394540.

ABOUT OLD NATIONAL
Old National Bancorp (NASDAQ: ONB) is the holding company of Old National Bank. As the sixth largest commercial bank headquartered in the Midwest, Old National proudly serves clients primarily in the Midwest and Southeast. With approximately $71 billion of assets and $38 billion of assets under management, Old National ranks among the top 25 banking companies headquartered in the United States. Tracing our roots to 1834, Old National focuses on building long-term, highly valued partnerships with clients while also strengthening and supporting the communities we serve. In addition to providing extensive services in consumer and commercial banking, Old National offers comprehensive wealth management and capital markets services. For more information and financial data, please visit Investor Relations at oldnational.com. In 2025, Points of Light named Old National one of "The Civic 50" - an honor reserved for the 50 most community-minded companies in the United States.

USE OF NON-GAAP FINANCIAL MEASURES
The Company's accounting and reporting policies conform to U.S. generally accepted accounting principles ("GAAP") and general practices within the banking industry. As a supplement to GAAP, the Company provides non-GAAP performance results, which the Company believes are useful because they assist investors in assessing the Company's operating performance. Where non-GAAP financial measures are used, the comparable GAAP financial measure, as well as the reconciliation to the comparable GAAP financial measure, can be found in the tables at the end of this release.

The Company presents EPS, the efficiency ratio, return on average common equity, return on average tangible common equity, and net income applicable to common shares, all adjusted for certain notable items. These items include merger-related charges associated with completed and pending acquisitions, CECL Day 1 non-PCD provision expense, a pension plan gain, debt securities gains/losses, separation expense, distribution of excess pension assets expense, and FDIC special assessment expense. Management believes excluding these items from EPS, the efficiency ratio, return on average common equity, and return on average tangible common equity may be useful in assessing the Company's underlying operational performance since these items do not pertain to its core business operations and their exclusion may facilitate better comparability between periods. Management believes that excluding merger-related charges from these metrics may be useful to the Company, as well as analysts and investors, since these expenses can vary significantly based on the size, type, and structure of each acquisition. Additionally, management believes excluding these items from these metrics may enhance comparability for peer comparison purposes.

Income tax expense, provision for credit losses, and the certain notable items listed above are excluded from the calculation of pre-provision net revenues, adjusted due to the fluctuation in income before income tax and the level of provision for credit losses required. Management believes adjusted pre-provision net revenues may be useful in assessing the Company's underlying operating performance and their exclusion may facilitate better comparability between periods and for peer comparison purposes.

The Company presents adjusted noninterest expense, which excludes merger-related charges associated with completed and pending acquisitions, separation expense, distribution of excess pension assets expense, and FDIC special assessment expense, as well as adjusted noninterest income, which excludes a pension plan gain and debt securities gains/losses. Management believes that excluding these items from noninterest expense and noninterest income may be useful in assessing the Company’s underlying operational performance as these items either do not pertain to its core business operations or their exclusion may facilitate better comparability between periods and for peer comparison purposes.

The tax-equivalent adjustment to net interest income and net interest margin recognizes the income tax savings when comparing taxable and tax-exempt assets. Interest income and yields on tax-exempt securities and loans are presented using the current federal income tax rate of 21%. Management believes that it is standard practice in the banking industry to present net interest income and net interest margin on a fully tax-equivalent basis and that it may enhance comparability for peer comparison purposes.

In management's view, tangible common equity measures are capital adequacy metrics that may be meaningful to the Company, as well as analysts and investors, in assessing the Company's use of equity and in facilitating comparisons with peers. These non-GAAP measures are valuable indicators of a financial institution's capital strength since they eliminate intangible assets from stockholders' equity and retain the effect of accumulated other comprehensive loss in stockholders' equity.

Although intended to enhance investors' understanding of the Company's business and performance, these non-GAAP financial measures should not be considered an alternative to GAAP. In addition, these non-GAAP financial measures may differ from those used by other financial institutions to assess their business and performance. See the following reconciliations in the "Non-GAAP Reconciliations" section for details on the calculation of these measures to the extent presented herein.

FORWARD-LOOKING STATEMENTS
This earnings release contains certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the “Act”), Section 27A of the Securities Act of 1933 and Rule 175 promulgated thereunder, and Section 21E of the Securities Exchange Act of 1934 and Rule 3b-6 promulgated thereunder, notwithstanding that such statements are not specifically identified as such. In addition, certain statements may be contained in our future filings with the Securities and Exchange Commission ("SEC"), in press releases, and in oral and written statements made by us that are not statements of historical fact and constitute forward‐looking statements within the meaning of the Act. These statements include, but are not limited to, descriptions of Old National’s financial condition, results of operations, asset and credit quality trends, profitability and business plans or opportunities. Forward-looking statements can be identified by the use of words such as "anticipate," "believe," "contemplate," "continue," "could," "estimate," "expect," "guidance," "intend," "may," "outlook," "plan," "potential," "predict," "should," "would," and "will," and other words of similar meaning. These forward-looking statements express management’s current expectations or forecasts of future events and, by their nature, are subject to risks and uncertainties. There are a number of factors that could cause actual results or outcomes to differ materially from those in such statements, including, but not limited to: competition; government legislation, regulations and policies, including trade and tariff policies; the ability of Old National to execute its business plan; unanticipated changes in our liquidity position, including but not limited to changes in our access to sources of liquidity and capital to address our liquidity needs; changes in economic conditions and economic and business uncertainty which could materially impact credit quality trends and the ability to generate loans and gather deposits; inflation and governmental responses to inflation, including increasing interest rates; market, economic, operational, liquidity, credit, and interest rate risks associated with our business; our ability to successfully manage our credit risk and the sufficiency of our allowance for credit losses; the expected cost savings, synergies and other financial benefits from the merger (the “Merger”) between Old National and Bremer not being realized within the expected time frames and costs or difficulties relating to integration matters being greater than expected; potential adverse reactions or changes to business or employee relationships, including those resulting from the Merger; the impact of purchase accounting with respect to the Merger, or any change in the assumptions used regarding the assets acquired and liabilities assumed to determine their fair value and credit marks; the potential impact of future business combinations on our performance and financial condition, including our ability to successfully integrate the businesses, the success of revenue-generating and cost reduction initiatives and the diversion of management’s attention from ongoing business operations and opportunities; failure or circumvention of our internal controls; operational risks or risk management failures by us or critical third parties, including without limitation with respect to data processing, information systems, cybersecurity, technological changes, vendor issues, business interruption, and fraud risks; significant changes in accounting, tax or regulatory practices or requirements; new legal obligations or liabilities; disruptive technologies in payment systems and other services traditionally provided by banks; failure or disruption of our information systems; computer hacking and other cybersecurity threats; the effects of climate change on Old National and its customers, borrowers, or service providers; the impacts of pandemics, epidemics and other infectious disease outbreaks; other matters discussed in this earnings release; and other factors identified in our Annual Report on Form 10-K for the year ended December 31, 2024 and other filings with the SEC. These forward-looking statements are based on assumptions and estimates, which although believed to be reasonable, may turn out to be incorrect. Old National does not undertake an obligation to update these forward-looking statements to reflect events or conditions after the date of this earnings release. You are advised to consult further disclosures we may make on related subjects in our filings with the SEC.

CONTACTS: Media: Rick Jillson Investors: Lynell Durchholz (812) 465-7267 (812) 464-1366 [email protected] [email protected]

Financial Highlights (unaudited) ($ and shares in thousands, except per share data) Three Months Ended Nine Months Ended September 30, June 30, March 31, December 31, September 30, September 30, September 30, 2025 2025 2025 2024 2024 2025 2024 Income Statement Net interest income $ 574,609 $ 514,790 $ 387,643 $ 394,180 $ 391,724 $ 1,477,042 $ 1,136,603 FTE adjustment1,3 7,975 7,063 5,360 5,777 6,144 20,398 18,737 Net interest income - tax equivalent basis3 582,584 521,853 393,003 399,957 397,868 1,497,440 1,155,340 Provision for credit losses 26,738 106,835 31,403 27,017 28,497 164,976 83,602 Noninterest income 130,461 132,517 93,794 95,766 94,138 356,772 258,931 Noninterest expense 445,734 384,766 268,471 276,824 272,283 1,098,971 817,599 Net income available to common shareholders $ 178,533 $ 121,375 $ 140,625 $ 149,839 $ 139,768 $ 440,533 $ 373,214 Per Common Share Data Weighted average diluted shares 390,496 361,436 321,016 318,803 317,331 357,278 308,605 EPS, diluted $ 0.46 $ 0.34 $ 0.44 $ 0.47 $ 0.44 $ 1.23 $ 1.21 Cash dividends 0.14 0.14 0.14 0.14 0.14 0.42 0.42 Dividend payout ratio2 30 % 41 % 32 % 30 % 32 % 34 % 35 % Book value $ 20.64 $ 20.12 $ 19.71 $ 19.11 $ 19.20 $ 20.64 $ 19.20 Stock price 21.95 21.34 21.19 21.71 18.66 21.95 18.66 Tangible book value3 13.15 12.60 12.54 11.91 11.97 13.15 11.97 Performance Ratios ROAA 1.03 % 0.77 % 1.08 % 1.14 % 1.08 % 0.95 % 0.99 % ROAE 9.0 % 6.7 % 9.1 % 9.8 % 9.4 % 8.3 % 8.8 % ROATCE3 15.9 % 12.0 % 15.0 % 16.4 % 16.0 % 14.3 % 15.0 % NIM (FTE)3 3.64 % 3.53 % 3.27 % 3.30 % 3.32 % 3.50 % 3.31 % Efficiency ratio3 58.8 % 55.8 % 53.7 % 54.4 % 53.8 % 56.4 % 56.4 % NCOs to average loans 0.25 % 0.24 % 0.24 % 0.21 % 0.19 % 0.24 % 0.16 % ACL on loans to EOP loans 1.19 % 1.18 % 1.10 % 1.08 % 1.05 % 1.19 % 1.05 % ACL4to EOP loans 1.26 % 1.24 % 1.16 % 1.14 % 1.12 % 1.26 % 1.12 % NPLs to EOP loans 1.23 % 1.24 % 1.29 % 1.23 % 1.22 % 1.23 % 1.22 % Balance Sheet (EOP) Total loans $ 47,967,915 $ 47,902,819 $ 36,413,944 $ 36,285,887 $ 36,400,643 $ 47,967,915 $ 36,400,643 Total assets 71,210,162 70,979,805 53,877,944 53,552,272 53,602,293 71,210,162 53,602,293 Total deposits 55,006,184 54,357,683 41,034,572 40,823,560 40,845,746 55,006,184 40,845,746 Total borrowed funds 6,766,381 7,346,098 5,447,054 5,411,537 5,449,096 6,766,381 5,449,096 Total shareholders' equity 8,309,271 8,126,387 6,534,654 6,340,350 6,367,298 8,309,271 6,367,298 Capital Ratios3 Risk-based capital ratios (EOP): Tier 1 common equity 11.02 % 10.74 % 11.62 % 11.38 % 11.00 % 11.02 % 11.00 % Tier 1 capital 11.49 % 11.20 % 12.23 % 11.98 % 11.60 % 11.49 % 11.60 % Total capital 12.78 % 12.59 % 13.68 % 13.37 % 12.94 % 12.78 % 12.94 % Leverage ratio (average assets) 8.72 % 9.26 % 9.44 % 9.21 % 9.05 % 8.72 % 9.05 % Equity to assets (averages) 11.48 % 11.38 % 12.01 % 11.78 % 11.60 % 11.59 % 11.41 % TCE to TA 7.53 % 7.26 % 7.76 % 7.41 % 7.44 % 7.53 % 7.44 % Nonfinancial Data Full-time equivalent employees 5,243 5,313 4,028 4,066 4,105 5,243 4,105 Banking centers 351 351 280 280 280 351 280 1Calculated using the federal statutory tax rate in effect of 21% for all periods. 2Cash dividends per common share divided by net income per common share (basic). 3Represents a non-GAAP financial measure. Refer to the "Non-GAAP Measures" table for reconciliations to GAAP financial measures. 4Includes the allowance for credit losses on loans and unfunded loan commitments. September 30, 2025 capital ratios are preliminary. FTE - Fully taxable equivalent basis  ROAA - Return on average assets  ROAE - Return on average equity  ROATCE - Return on average tangible common equity  NCOs - Net Charge-offs  ACL - Allowance for Credit Losses  EOP - End of period actual balances  NPLs - Non-performing Loans  TCE - Tangible common equity  TA - Tangible assets

Income Statement (unaudited) ($ and shares in thousands, except per share data) Three Months Ended Nine Months Ended September 30, June 30, March 31, December 31, September 30, September 30, September 30, 2025 2025 2025 2024 2024 2025 2024 Interest income $ 917,192 $ 824,961 $ 630,399 $ 662,082 $ 679,925 $ 2,372,552 $ 1,939,569 Less:  interest expense 342,583 310,171 242,756 267,902 288,201 895,510 802,966 Net interest income 574,609 514,790 387,643 394,180 391,724 1,477,042 1,136,603 Provision for credit losses 26,738 106,835 31,403 27,017 28,497 164,976 83,602 Net interest income
after provision for credit losses 547,871 407,955 356,240 367,163 363,227 1,312,066 1,053,001 Wealth and investment services fees 39,684 35,817 29,648 30,012 29,117 105,149 86,779 Service charges on deposit accounts 27,856 23,878 21,156 20,577 20,350 72,890 57,598 Debit card and ATM fees 13,197 12,922 9,991 10,991 11,362 36,110 32,409 Mortgage banking revenue 10,442 10,032 6,879 7,026 7,669 27,353 19,211 Capital markets income 12,629 7,114 4,506 5,244 7,426 24,249 15,055 Company-owned life insurance 7,565 6,625 5,381 6,499 5,315 19,571 14,488 Other income 19,081 36,170 16,309 15,539 12,975 71,560 33,481 Debt securities gains (losses), net 7 (41 ) (76 ) (122 ) (76 ) (110 ) (90 ) Total noninterest income 130,461 132,517 93,794 95,766 94,138 356,772 258,931 Salaries and employee benefits 211,345 202,112 148,305 146,605 147,494 561,762 456,490 Occupancy 34,442 30,432 29,053 29,733 27,130 93,927 80,696 Equipment 12,703 12,566 8,901 9,325 9,888 34,170 27,263 Marketing 15,093 13,759 11,940 12,653 11,036 40,792 32,954 Technology 36,122 31,452 22,020 21,429 23,343 89,594 67,368 Communication 7,742 5,014 4,134 4,176 4,681 16,890 13,161 Professional fees 13,598 21,931 7,919 11,055 7,278 43,448 24,236 FDIC assessment 14,095 13,409 9,700 11,970 11,722 37,204 32,711 Amortization of intangibles 26,184 19,630 6,830 7,237 7,411 52,644 20,291 Amortization of tax credit investments 7,057 5,815 3,424 4,556 3,277 16,296 8,773 Other expense 67,353 28,646 16,245 18,085 19,023 112,244 53,656 Total noninterest expense 445,734 384,766 268,471 276,824 272,283 1,098,971 817,599 Income before income taxes 232,598 155,706 181,563 186,105 185,082 569,867 494,333 Income tax expense 50,031 30,298 36,904 32,232 41,280 117,233 109,018 Net income $ 182,567 $ 125,408 $ 144,659 $ 153,873 $ 143,802 $ 452,634 $ 385,315 Preferred dividends (4,034 ) (4,033 ) (4,034 ) (4,034 ) (4,034 ) (12,101 ) (12,101 ) Net income applicable to common shares $ 178,533 $ 121,375 $ 140,625 $ 149,839 $ 139,768 $ 440,533 $ 373,214 EPS, diluted $ 0.46 $ 0.34 $ 0.44 $ 0.47 $ 0.44 $ 1.23 $ 1.21 Weighted Average Common
Shares Outstanding Basic 389,038 360,155 315,925 315,673 315,622 355,307 307,426 Diluted 390,496 361,436 321,016 318,803 317,331 357,278 308,605 (EOP) 390,768 391,818 319,236 318,980 318,955 390,768 318,955

End of Period Balance Sheet (unaudited) ($ in thousands) September 30, June 30, March 31, December 31, September 30, 2025 2025 2025 2024 2024 Assets Cash and due from banks $ 491,910 $ 637,556 $ 486,061 $ 394,450 $ 498,120 Money market and other interest-earning investments 1,190,707 1,171,015 753,719 833,518 693,450 Investments: Treasury and government-sponsored agencies 2,402,375 2,445,733 2,364,170 2,289,903 2,335,716 Mortgage-backed securities 10,117,015 9,632,206 6,458,023 6,175,103 6,085,826 States and political subdivisions 1,579,802 1,590,272 1,589,555 1,637,379 1,665,128 Other securities 849,911 852,687 755,348 781,656 783,079 Total investments 14,949,103 14,520,898 11,167,096 10,884,041 10,869,749 Loans held-for-sale, at fair value 80,341 77,618 40,424 34,483 62,376 Loans: Commercial 14,506,375 14,662,916 10,650,615 10,288,560 10,408,095 Commercial and agriculture real estate 22,083,734 21,879,785 16,135,327 16,307,486 16,356,216 Residential real estate 8,190,127 8,212,242 6,771,694 6,797,586 6,757,896 Consumer 3,187,679 3,147,876 2,856,308 2,892,255 2,878,436 Total loans 47,967,915 47,902,819 36,413,944 36,285,887 36,400,643 Allowance for credit losses on loans (572,178 ) (565,109 ) (401,932 ) (392,522 ) (380,840 ) Premises and equipment, net 691,950 682,539 584,664 588,970 599,528 Goodwill and other intangible assets 2,926,960 2,944,372 2,289,268 2,296,098 2,305,084 Company-owned life insurance 1,044,780 1,046,693 859,211 859,851 863,723 Accrued interest receivable and other assets 2,438,674 2,561,404 1,685,489 1,767,496 1,690,460 Total assets $ 71,210,162 $ 70,979,805 $ 53,877,944 $ 53,552,272 $ 53,602,293 Liabilities and Equity Noninterest-bearing demand deposits $ 12,691,658 $ 12,652,556 $ 9,186,314 $ 9,399,019 $ 9,429,285 Interest-bearing: Checking and NOW accounts 9,669,551 9,194,738 7,736,014 7,538,987 7,314,245 Savings accounts 4,958,555 5,058,819 4,715,329 4,753,279 4,781,447 Money market accounts 16,739,884 16,564,125 11,638,653 11,807,228 11,601,461 Other time deposits 7,767,698 7,613,377 6,212,898 5,819,970 6,010,070 Total core deposits 51,827,346 51,083,615 39,489,208 39,318,483 39,136,508 Brokered deposits 3,178,838 3,274,068 1,545,364 1,505,077 1,709,238 Total deposits 55,006,184 54,357,683 41,034,572 40,823,560 40,845,746 Federal funds purchased and interbank borrowings 1 340,246 170 385 135,263 Securities sold under agreements to repurchase 277,594 297,637 290,256 268,975 244,626 Federal Home Loan Bank advances 5,663,361 5,835,918 4,514,354 4,452,559 4,471,153 Other borrowings 825,425 872,297 642,274 689,618 598,054 Total borrowed funds 6,766,381 7,346,098 5,447,054 5,411,537 5,449,096 Accrued expenses and other liabilities 1,128,326 1,149,637 861,664 976,825 940,153 Total liabilities 62,900,891 62,853,418 47,343,290 47,211,922 47,234,995 Preferred stock, common stock, surplus, and retained earnings 8,833,662 8,725,995 7,183,163 7,086,393 6,971,054 Accumulated other comprehensive income (loss), net of tax (524,391 ) (599,608 ) (648,509 ) (746,043 ) (603,756 ) Total shareholders' equity 8,309,271 8,126,387 6,534,654 6,340,350 6,367,298 Total liabilities and shareholders' equity $ 71,210,162 $ 70,979,805 $ 53,877,944 $ 53,552,272 $ 53,602,293

Average Balance Sheet and Interest Rates (unaudited) ($ in thousands) Three Months Ended Three Months Ended Three Months Ended September 30, 2025 June 30, 2025 September 30, 2024 Average Income1/ Yield/ Average Income1/ Yield/ Average Income1/ Yield/ Earning Assets: Balance Expense Rate Balance Expense Rate Balance Expense Rate Money market and other interest-earning investments $ 1,159,564 $ 12,207 4.18 % $ 1,424,700 $ 14,791 4.16 % $ 904,176 $ 11,696 5.15 % Investments: Treasury and government-sponsored agencies 2,391,564 20,721 3.47 % 2,396,691 20,820 3.47 % 2,255,629 21,851 3.87 % Mortgage-backed securities 9,854,107 105,596 4.29 % 8,567,318 87,734 4.10 % 5,977,058 48,425 3.24 % States and political subdivisions 1,577,384 13,109 3.32 % 1,596,899 13,402 3.36 % 1,668,454 14,042 3.37 % Other securities 874,728 16,265 7.44 % 970,581 15,770 6.50 % 785,107 12,547 6.39 % Total investments 14,697,783 155,691 4.24 % 13,531,489 137,726 4.07 % 10,686,248 96,865 3.63 % Loans:2 Commercial 14,722,785 249,569 6.78 % 13,240,876 219,446 6.63 % 10,373,340 183,878 7.09 % Commercial and agriculture real estate 21,999,016 356,014 6.47 % 20,022,403 316,422 6.32 % 16,216,842 274,832 6.78 % Residential real estate loans 8,287,155 95,129 4.59 % 7,792,440 88,852 4.56 % 6,833,597 67,084 3.93 % Consumer 3,166,508 56,557 7.09 % 3,049,341 54,787 7.21 % 2,891,260 51,714 7.12 % Total loans 48,175,464 757,269 6.28 % 44,105,060 679,507 6.16 % 36,315,039 577,508 6.36 % Total earning assets $ 64,032,811 $ 925,167 5.78 % $ 59,061,249 $ 832,024 5.64 % $ 47,905,463 $ 686,069 5.73 % Less: Allowance for credit losses on loans (566,102 ) (404,871 ) (366,667 ) Non-earning Assets: Cash and due from banks $ 492,415 $ 426,513 $ 413,583 Other assets 7,177,663 6,403,239 5,394,032 Total assets $ 71,136,787 $ 65,486,130 $ 53,346,411 Interest-Bearing Liabilities: Checking and NOW accounts $ 9,382,625 $ 36,221 1.53 % $ 8,594,591 $ 29,291 1.37 % $ 7,551,264 $ 29,344 1.55 % Savings accounts 5,009,293 3,866 0.31 % 4,968,232 3,777 0.30 % 4,860,161 5,184 0.42 % Money market accounts 16,674,801 121,886 2.90 % 15,055,735 110,933 2.96 % 11,064,433 106,148 3.82 % Other time deposits 7,723,441 73,247 3.76 % 7,092,124 67,204 3.80 % 5,928,241 64,435 4.32 % Total interest-bearing core deposits 38,790,160 235,220 2.41 % 35,710,682 211,205 2.37 % 29,404,099 205,111 2.78 % Brokered deposits 3,371,269 37,381 4.40 % 2,530,726 28,883 4.58 % 1,829,218 24,616 5.35 % Total interest-bearing deposits 42,161,429 272,601 2.57 % 38,241,408 240,088 2.52 % 31,233,317 229,727 2.93 % Federal funds purchased and interbank borrowings 157,192 1,816 4.58 % 88,603 953 4.31 % 14,549 292 7.98 % Securities sold under agreements to repurchase 289,323 731 1.00 % 295,948 636 0.86 % 239,524 612 1.02 % Federal Home Loan Bank advances 5,552,780 57,143 4.08 % 6,037,462 59,042 3.92 % 4,572,046 47,719 4.15 % Other borrowings 871,996 10,292 4.68 % 828,214 9,452 4.58 % 754,544 9,851 5.19 % Total borrowed funds 6,871,291 69,982 4.04 % 7,250,227 70,083 3.88 % 5,580,663 58,474 4.17 % Total interest-bearing liabilities $ 49,032,720 $ 342,583 2.77 % $ 45,491,635 $ 310,171 2.73 % $ 36,813,980 $ 288,201 3.11 % Noninterest-Bearing Liabilities and Shareholders' Equity Demand deposits $ 12,731,654 $ 11,568,854 $ 9,371,698 Other liabilities 1,203,838 973,525 970,662 Shareholders' equity 8,168,575 7,452,116 6,190,071 Total liabilities and shareholders' equity $ 71,136,787 $ 65,486,130 $ 53,346,411 Net interest rate spread 3.01 % 2.91 % 2.62 % Net interest margin (GAAP) 3.59 % 3.49 % 3.27 % Net interest margin (FTE)3 3.64 % 3.53 % 3.32 % FTE adjustment $ 7,975 $ 7,063 $ 6,144 1Interest income is reflected on a FTE basis. 2Includes loans held-for-sale. 3Represents a non-GAAP financial measure. Refer to the "Non-GAAP Measures" table for reconciliations to GAAP financial measures.

Average Balance Sheet and Interest Rates (unaudited) ($ in thousands) Nine Months Ended Nine Months Ended September 30, 2025 September 30, 2024 Average Income1/ Yield/ Average Income1/ Yield/ Earning Assets: Balance Expense Rate Balance Expense Rate Money market and other interest-earning investments $ 1,126,460 $ 35,813 4.25 % $ 825,743 $ 32,992 5.34 % Investments: Treasury and government-sponsored agencies 2,369,307 61,560 3.46 % 2,275,607 66,648 3.91 % Mortgage-backed securities 8,249,480 247,853 4.01 % 5,721,725 135,217 3.15 % States and political subdivisions 1,594,912 39,753 3.32 % 1,678,504 42,308 3.36 % Other securities 872,430 42,547 6.50 % 781,385 37,303 6.37 % Total investments $ 13,086,129 $ 391,713 3.99 % $ 10,457,221 $ 281,476 3.59 % Loans:2 Commercial 12,803,059 634,610 6.61 % 10,087,322 534,566 7.07 % Commercial and agriculture real estate 19,432,867 918,371 6.30 % 15,488,010 765,325 6.59 % Residential real estate loans 7,636,955 251,629 4.39 % 6,826,809 197,770 3.86 % Consumer 3,030,102 160,814 7.10 % 2,815,837 146,177 6.93 % Total loans 42,902,983 1,965,424 6.11 % 35,217,978 1,643,838 6.22 % Total earning assets $ 57,115,572 $ 2,392,950 5.59 % $ 46,500,942 $ 1,958,306 5.62 % Less: Allowance for credit losses on loans (457,192 ) (337,168 ) Non-earning Assets: Cash and due from banks $ 430,891 $ 402,213 Other assets 6,331,698 5,232,807 Total assets $ 63,420,969 $ 51,798,794 Interest-Bearing Liabilities: Checking and NOW accounts $ 8,507,970 $ 89,362 1.40 % $ 7,627,029 $ 88,994 1.56 % Savings accounts 4,891,083 11,251 0.31 % 4,976,361 15,455 0.41 % Money market accounts 14,483,414 321,200 2.97 % 10,571,821 302,921 3.83 % Other time deposits 6,943,552 196,936 3.79 % 5,327,361 168,453 4.22 % Total interest-bearing core deposits 34,826,019 618,749 2.38 % 28,502,572 575,823 2.70 % Brokered deposits 2,489,600 84,435 4.53 % 1,375,231 55,149 5.36 % Total interest-bearing deposits 37,315,619 703,184 2.52 % 29,877,803 630,972 2.82 % Federal funds purchased and interbank borrowings 131,341 4,394 4.47 % 77,262 3,239 5.60 % Securities sold under agreements to repurchase 286,137 1,918 0.90 % 261,818 2,168 1.11 % Federal Home Loan Bank advances 5,355,597 158,081 3.95 % 4,477,851 133,529 3.98 % Other borrowings 792,708 27,933 4.71 % 823,746 33,058 5.36 % Total borrowed funds 6,565,783 192,326 3.92 % 5,640,677 171,994 4.07 % Total interest-bearing liabilities 43,881,402 895,510 2.73 % 35,518,480 802,966 3.02 % Noninterest-Bearing Liabilities and Shareholders' Equity Demand deposits $ 11,145,709 $ 9,396,081 Other liabilities 1,041,715 971,687 Shareholders' equity 7,352,143 5,912,546 Total liabilities and shareholders' equity $ 63,420,969 $ 51,798,794 Net interest rate spread 2.86 % 2.60 % Net interest margin (GAAP) 3.45 % 3.26 % Net interest margin (FTE)3 3.50 % 3.31 % FTE adjustment $ 20,398 $ 18,737 1Interest income is reflected on a FTE. 2Includes loans held-for-sale. 3Represents a non-GAAP financial measure. Refer to the "Non-GAAP Measures" table for reconciliations to GAAP financial measures.

Asset Quality (EOP) (unaudited) ($ in thousands) Three Months Ended Nine Months Ended September 30, June 30, March 31, December 31, September 30, September 30, September 30, 2025 2025 2025 2024 2024 2025 2024 Allowance for credit losses: Beginning allowance for credit losses on loans $ 565,109 $ 401,932 $ 392,522 $ 380,840 $ 366,335 $ 392,522 $ 307,610 Allowance established for acquired PCD loans 13,104 90,442 — — 2,803 103,546 26,725 Provision for credit losses on loans 24,003 99,263 31,026 30,417 29,176 154,292 89,774 Gross charge-offs (35,402 ) (29,954 ) (24,540 ) (21,278 ) (18,965 ) (89,896 ) (50,026 ) Gross recoveries 5,364 3,426 2,924 2,543 1,491 11,714 6,757 NCOs (30,038 ) (26,528 ) (21,616 ) (18,735 ) (17,474 ) (78,182 ) (43,269 ) Ending allowance for credit losses on loans $ 572,178 $ 565,109 $ 401,932 $ 392,522 $ 380,840 $ 572,178 $ 380,840 Beginning allowance for credit losses on unfunded commitments $ 29,603 $ 22,031 $ 21,654 $ 25,054 $ 25,733 $ 21,654 $ 31,226 Provision (release) for credit losses on unfunded commitments 2,735 7,572 377 (3,400 ) (679 ) 10,684 (6,172 ) Ending allowance for credit losses on unfunded commitments $ 32,338 $ 29,603 $ 22,031 $ 21,654 $ 25,054 $ 32,338 $ 25,054 Allowance for credit losses $ 604,516 $ 594,712 $ 423,963 $ 414,176 $ 405,894 $ 604,516 $ 405,894 Provision for credit losses on loans $ 24,003 $ 99,263 $ 31,026 $ 30,417 $ 29,176 $ 154,292 $ 89,774 Provision (release) for credit losses on unfunded commitments 2,735 7,572 377 (3,400 ) (679 ) 10,684 (6,172 ) Provision for credit losses $ 26,738 $ 106,835 $ 31,403 $ 27,017 $ 28,497 $ 164,976 $ 83,602 NCOs / average loans1 0.25 % 0.24 % 0.24 % 0.21 % 0.19 % 0.24 % 0.16 % Average loans1 $ 48,153,186 $ 44,075,472 $ 36,284,059 $ 36,410,414 $ 36,299,544 $ 42,881,049 $ 35,202,727 EOP loans1 47,967,915 47,902,819 36,413,944 36,285,887 36,400,643 47,967,915 36,400,643 ACL on loans / EOP loans1 1.19 % 1.18 % 1.10 % 1.08 % 1.05 % 1.19 % 1.05 % ACL / EOP loans1 1.26 % 1.24 % 1.16 % 1.14 % 1.12 % 1.26 % 1.12 % Underperforming Assets: Loans 90 days and over (still accruing) $ 1,525 $ 16,893 $ 6,757 $ 4,060 $ 1,177 $ 1,525 $ 1,177 Nonaccrual loans 590,820 594,709 469,211 447,979 443,597 590,820 443,597 Foreclosed assets 6,325 7,986 6,301 4,294 4,077 6,325 4,077 Total underperforming assets $ 598,670 $ 619,588 $ 482,269 $ 456,333 $ 448,851 $ 598,670 $ 448,851 Classified and Criticized Assets: Nonaccrual loans $ 590,820 $ 594,709 $ 469,211 $ 447,979 $ 443,597 $ 590,820 $ 443,597 Substandard loans (still accruing) 1,881,294 1,969,260 1,479,630 1,073,413 1,074,243 1,881,294 1,074,243 Loans 90 days and over (still accruing) 1,525 16,893 6,757 4,060 1,177 1,525 1,177 Total classified loans - "problem loans" 2,473,639 2,580,862 1,955,598 1,525,452 1,519,017 2,473,639 1,519,017 Other classified assets 35,373 43,495 53,239 58,954 59,485 35,373 59,485 Special Mention 893,109 1,008,716 828,314 908,630 837,543 893,109 837,543 Total classified and criticized assets $ 3,402,121 $ 3,633,073 $ 2,837,151 $ 2,493,036 $ 2,416,045 $ 3,402,121 $ 2,416,045 Loans 30-89 days past due (still accruing) $ 83,030 $ 128,771 $ 72,517 $ 93,141 $ 91,750 $ 83,030 $ 91,750 Nonaccrual loans / EOP loans1 1.23 % 1.24 % 1.29 % 1.23 % 1.22 % 1.23 % 1.22 % ACL / nonaccrual loans 102 % 100 % 90 % 92 % 92 % 102 % 92 % Under-performing assets/EOP loans1 1.25 % 1.29 % 1.32 % 1.26 % 1.23 % 1.25 % 1.23 % Under-performing assets/EOP assets 0.84 % 0.87 % 0.90 % 0.85 % 0.84 % 0.84 % 0.84 % 30+ day delinquencies/EOP loans1 0.18 % 0.30 % 0.22 % 0.27 % 0.26 % 0.18 % 0.26 % 1Excludes loans held-for-sale.

Non-GAAP Measures (unaudited) ($ and shares in thousands, except per share data) Three Months Ended Nine Months Ended September 30, June 30, March 31, December 31, September 30, September 30, September 30, 2025 2025 2025 2024 2024 2025 2024 Earnings Per Share: Net income applicable to common shares $ 178,533 $ 121,375 $ 140,625 $ 149,839 $ 139,768 $ 440,533 $ 373,214 Adjustments: Merger-related charges 69,274 41,206 5,856 8,117 6,860 116,336 29,208 Tax effect1 (16,494 ) (11,337 ) (1,089 ) (2,058 ) (1,528 ) (28,921 ) (6,651 ) Merger-related charges, net 52,780 29,869 4,767 6,059 5,332 87,415 22,557 CECL Day 1 non-PCD provision expense — 75,604 — — — 75,604 15,312 Tax effect1 — (20,802 ) — — — (20,802 ) (3,476 ) CECL Day 1 non-PCD provision expense, net — 54,802 — — — 54,802 11,836 Pension plan gain — (21,001 ) — — — (21,001 ) — Tax effect1 — 5,778 — — — 5,778 — Pension plan gain, net — (15,223 ) — — — (15,223 ) — Debt securities (gains) losses (7 ) 41 76 122 76 110 90 Tax effect1 2 (11 ) (14 ) (31 ) (17 ) (24 ) (20 ) Debt securities (gains) losses, net (5 ) 30 62 91 59 86 70 Separation expense — — — — 2,646 — 2,646 Tax effect1 — — — — (589 ) — (589 ) Separation expense, net — — — — 2,057 — 2,057 Distribution of excess pension assets — — — — — — — 13,318 Tax effect1 — — — — — — — (3,250 ) Distribution excess pension assets, net — — — — — — 10,068 FDIC special assessment — — — — — — 2,994 Tax effect1 — — — — — — (731 ) FDIC special assessment, net — — — — — — 2,263 Total adjustments, net 52,775 69,478 4,829 6,150 7,448 127,080 48,851 Net income applicable to common shares, adjusted $ 231,308 $ 190,853 $ 145,454 $ 155,989 $ 147,216 $ 567,613 $ 422,065 Weighted average diluted common shares outstanding 390,496 361,436 321,016 318,803 317,331 357,278 308,605 EPS, diluted $ 0.46 $ 0.34 $ 0.44 $ 0.47 $ 0.44 $ 1.23 $ 1.21 Adjusted EPS, diluted $ 0.59 $ 0.53 $ 0.45 $ 0.49 $ 0.46 $ 1.59 $ 1.37 NIM: Net interest income $ 574,609 $ 514,790 $ 387,643 $ 394,180 $ 391,724 $ 1,477,042 $ 1,136,603 Add: FTE adjustment2 7,975 7,063 5,360 5,777 6,144 20,398 18,737 Net interest income (FTE) $ 582,584 $ 521,853 $ 393,003 $ 399,957 $ 397,868 $ 1,497,440 $ 1,155,340 Average earning assets $ 64,032,811 $ 59,061,249 $ 48,077,320 $ 48,411,803 $ 47,905,463 $ 57,115,572 $ 46,500,942 NIM (GAAP) 3.59 % 3.49 % 3.23 % 3.26 % 3.27 % 3.45 % 3.26 % NIM (FTE) 3.64 % 3.53 % 3.27 % 3.30 % 3.32 % 3.50 % 3.31 % Refer to last page of Non-GAAP reconciliations for footnotes.

Non-GAAP Measures (unaudited) ($ in thousands) Three Months Ended Nine Months Ended September 30, June 30, March 31, December 31, September 30, September 30, September 30, 2025 2025 2025 2024 2024 2025 2024 PPNR: Net interest income (FTE)2 $ 582,584 $ 521,853 $ 393,003 $ 399,957 $ 397,868 $ 1,497,440 $ 1,155,340 Add: Noninterest income 130,461 132,517 93,794 95,766 94,138 356,772 258,931 Total revenue (FTE) 713,045 654,370 486,797 495,723 492,006 1,854,212 1,414,271 Less: Noninterest expense (445,734 ) (384,766 ) (268,471 ) (276,824 ) (272,283 ) (1,098,971 ) (817,599 ) PPNR $ 267,311 $ 269,604 $ 218,326 $ 218,899 $ 219,723 $ 755,241 $ 596,672 Adjustments: Pension plan termination gain $ — $ (21,001 ) $ — $ — $ — $ (21,001 ) $ — Debt securities (gains) losses $ (7 ) $ 41 $ 76 $ 122 $ 76 $ 110 $ 90 Noninterest income adjustments (7 ) (20,960 ) 76 122 76 (20,891 ) 90 Adjusted noninterest income 130,454 111,557 93,870 95,888 94,214 335,881 259,021 Adjusted revenue $ 713,038 $ 633,410 $ 486,873 $ 495,845 $ 492,082 $ 1,833,321 $ 1,414,361 Adjustments: Merger-related charges $ 69,274 $ 41,206 $ 5,856 $ 8,117 $ 6,860 $ 116,336 $ 29,208 Separation expense — — — — 2,646 — 2,646 Distribution of excess pension assets — — — — — — 13,318 FDIC Special Assessment — — — — — — 2,994 Noninterest expense adjustments 69,274 41,206 5,856 8,117 9,506 116,336 48,166 Adjusted total noninterest expense (376,460 ) (343,560 ) (262,615 ) (268,707 ) (262,777 ) (982,635 ) (769,433 ) Adjusted PPNR $ 336,578 $ 289,850 $ 224,258 $ 227,138 $ 229,305 $ 850,686 $ 644,928 Efficiency Ratio: Noninterest expense $ 445,734 $ 384,766 $ 268,471 $ 276,824 $ 272,283 $ 1,098,971 $ 817,599 Less: Amortization of intangibles (26,184 ) (19,630 ) (6,830 ) (7,237 ) (7,411 ) (52,644 ) (20,291 ) Noninterest expense, excl. amortization of intangibles 419,550 365,136 261,641 269,587 264,872 1,046,327 797,308 Less: Amortization of tax credit investments (7,057 ) (5,815 ) (3,424 ) (4,556 ) (3,277 ) (16,296 ) (8,773 ) Less: Noninterest expense adjustments (69,274 ) (41,206 ) (5,856 ) (8,117 ) (9,506 ) (116,336 ) (48,166 ) Adjusted noninterest expense, excluding amortization $ 343,219 $ 318,115 $ 252,361 $ 256,914 $ 252,089 $ 913,695 $ 740,369 Total revenue (FTE)2 $ 713,045 $ 654,370 $ 486,797 $ 495,723 $ 492,006 $ 1,854,212 $ 1,414,271 Less: Debt securities (gains) losses (7 ) 41 76 122 76 110 90 Less: Pension plan gain — (21,001 ) — — — (21,001 ) — Total adjusted revenue $ 713,038 $ 633,410 $ 486,873 $ 495,845 $ 492,082 $ 1,833,321 $ 1,414,361 Efficiency Ratio 58.8 % 55.8 % 53.7 % 54.4 % 53.8 % 56.4 % 56.4 % Adjusted Efficiency Ratio 48.1 % 50.2 % 51.8 % 51.8 % 51.2 % 49.8 % 52.3 % Refer to last page of Non-GAAP reconciliations for footnotes.

Non-GAAP Measures (unaudited) ($ in thousands) Three Months Ended Nine Months Ended September 30, June 30, March 31, December 31, September 30, September 30, September 30, 2025 2025 2025 2024 2024 2025 2024 ROAE and ROATCE: Net income applicable to common shares $ 178,533 $ 121,375 $ 140,625 $ 149,839 $ 139,768 $ 440,533 $ 373,214 Amortization of intangibles 26,184 19,630 6,830 7,237 7,411 52,644 20,291 Tax effect1 (6,546 ) (4,908 ) (1,708 ) (1,809 ) (1,853 ) (13,161 ) (5,073 ) Amortization of intangibles, net 19,638 14,722 5,122 5,428 5,558 39,483 15,218 Net income applicable to common shares, excluding intangibles amortization 198,171 136,097 145,747 155,267 145,326 480,016 388,432 Total adjustments, net (see pg.12) 52,775 69,478 4,829 6,150 7,448 127,080 48,851 Adjusted net income applicable to common shares, excluding intangibles amortization $ 250,946 $ 205,575 $ 150,576 $ 161,417 $ 152,774 $ 607,096 $ 437,283 Average shareholders' equity $ 8,168,575 $ 7,452,116 $ 6,416,485 $ 6,338,953 $ 6,190,071 $ 7,352,143 $ 5,912,546 Less: Average preferred equity (243,719 ) (243,719 ) (243,719 ) (243,719 ) (243,719 ) (243,719 ) (243,719 ) Average shareholders' common equity $ 7,924,856 $ 7,208,397 $ 6,172,766 $ 6,095,234 $ 5,946,352 $ 7,108,424 $ 5,668,827 Average goodwill and other intangible assets (2,931,319 ) (2,670,710 ) (2,292,526 ) (2,301,177 ) (2,304,597 ) (2,633,858 ) (2,216,437 ) Average tangible shareholder's common equity $ 4,993,537 $ 4,537,687 $ 3,880,240 $ 3,794,057 $ 3,641,755 $ 4,474,566 $ 3,452,390 ROAE 9.0 % 6.7 % 9.1 % 9.8 % 9.4 % 8.3 % 8.8 % ROAE, adjusted 11.7 % 10.6 % 9.4 % 10.2 % 9.9 % 10.6 % 9.9 % ROATCE 15.9 % 12.0 % 15.0 % 16.4 % 16.0 % 14.3 % 15.0 % ROATCE, adjusted 20.1 % 18.1 % 15.5 % 17.0 % 16.8 % 18.1 % 16.9 % Refer to last page of Non-GAAP reconciliations for footnotes.

Non-GAAP Measures (unaudited) ($ in thousands) As of September 30, June 30, March 31, December 31, September 30, 2025 2025 2025 2024 2024 Tangible Common Equity: Shareholders' equity $ 8,309,271 $ 8,126,387 $ 6,534,654 $ 6,340,350 $ 6,367,298 Less: Preferred equity (243,719 ) (243,719 ) (243,719 ) (243,719 ) (243,719 ) Shareholders' common equity $ 8,065,552 $ 7,882,668 $ 6,290,935 $ 6,096,631 $ 6,123,579 Less: Goodwill and other intangible assets (2,926,960 ) (2,944,372 ) (2,289,268 ) (2,296,098 ) (2,305,084 ) Tangible shareholders' common equity $ 5,138,592 $ 4,938,296 $ 4,001,667 $ 3,800,533 $ 3,818,495 Total assets $ 71,210,162 $ 70,979,805 $ 53,877,944 $ 53,552,272 $ 53,602,293 Less: Goodwill and other intangible assets (2,926,960 ) (2,944,372 ) (2,289,268 ) (2,296,098 ) (2,305,084 ) Tangible assets $ 68,283,202 $ 68,035,433 $ 51,588,676 $ 51,256,174 $ 51,297,209 Risk-weighted assets3 $ 52,515,468 $ 52,517,871 $ 40,266,670 $ 40,314,805 $ 40,584,608 Tangible common equity to tangible assets 7.53 % 7.26 % 7.76 % 7.41 % 7.44 % Tangible common equity to risk-weighted assets3 9.78 % 9.40 % 9.94 % 9.43 % 9.41 % Tangible Common Book Value: Common shares outstanding 390,768 391,818 319,236 318,980 318,955 Tangible common book value $ 13.15 $ 12.60 $ 12.54 $ 11.91 $ 11.97 1Tax-effect calculations use management's estimate of the full year FTE tax rates (federal + state). 2Calculated using the federal statutory tax rate in effect of 21% for all periods. 3September 30, 2025 figures are preliminary.

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