Enterprise Financial Q3 2026 earnings fall to $42.4M

EFSC's loans rose $452.3 million and deposits $624.4 million quarter over quarter, while its credit-loss provision was $18.1 million.

Rhea-AI Filing Summary

Enterprise Financial Services Corp (EFSC) reported third-quarter 2026 net income of $42.4 million, down $2.8 million from the prior-year quarter; diluted earnings were $1.14 per share versus $1.19. Net interest income was $174.6 million, up $16.3 million year over year, while net interest margin was 4.30%, compared with 4.23% a year earlier.

At September 30, loans totaled $12.3 billion, up $452.3 million from June 30, and deposits were $15.1 billion, up $624.4 million. The provision for credit losses was $18.1 million versus $8.4 million a year earlier. Nonperforming assets were 1.03% of total assets, compared with 0.83% a year earlier; the allowance for credit losses was 1.17% of loans.

EFSC repurchased 525,767 shares for $34.0 million during the quarter. The board approved a fourth-quarter common dividend of $0.36 per share, up $0.01, payable December 31, 2026, to holders of record December 15. It also declared a preferred dividend of $12.50 per share, or $0.3125 per depositary share, payable December 15 to holders of record November 30.

2 points · 0 major

MixediHow this balance works

How this balance works

Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.

It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

Rhea-AI Sentiment measures something else, the tone of the wording.

How the balance worksHow Sentiment works

0 major · 1 point

Hollow bars mark forward-looking points. How the balance works

Positive

• Moderate pointNet interest income rose $16.3 million year over year to $174.6 million.
• Minor point. Forward-looking: it has not happened yet and may not happen.Quarterly common dividend increased $0.01 to $0.36 per share for fourth-quarter 2026.

Negative

• Moderate pointNet income fell $2.8 million year over year to $42.4 million.

Filing Explained

At September 30, EFSC's tangible common equity ratio was 8.13%, down from 9.04% at June 30, while nonperforming assets rose to 1.03% of assets.

This 8-K reports EFSC's third-quarter results and documents a lower quarter-end common-equity position.

The company attributes the decline in total equity primarily to higher unrealized losses on available-for-sale securities associated with increased interest rates. The quarter's regulatory capital ratios are preliminary, pending completion and filing of regulatory reports and regulatory review.

Separately, nonperforming assets rose to 1.03% of assets from 0.92% at June 30, 2026, while quarterly provision for credit losses was $18.1 million, versus $14.2 million.

8-K Event Classification

2 items: 2.02, 9.01

2 items

Item 2.02 Results of Operations and Financial Condition Financial

Disclosure of earnings results, typically an earnings press release or preliminary financials.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

Key Figures

Net income: $42.4 million Diluted earnings per share: $1.14 Net interest income: $174.6 million +5 more

8 metrics

Net income $42.4 million Third quarter 2026; down $2.8 million from the prior-year quarter

Diluted earnings per share $1.14 Third quarter 2026

Net interest income $174.6 million Third quarter 2026; up $16.3 million from the prior-year quarter

Net interest margin 4.30% Third quarter 2026

Total loans $12.3 billion At September 30, 2026

Total deposits $15.1 billion At September 30, 2026

Provision for credit losses $18.1 million Third quarter 2026

Quarterly common dividend $0.36 per common share Fourth quarter 2026

Key Terms

Net interest margin, Pre-provision net revenue, nonperforming assets, tax-equivalent basis, +1 more

5 terms

Net interest margin financial

"Net interest margin (“NIM”) of 4.30%"

Net interest margin measures how much a bank earns from lending and investing compared with what it pays for funding, expressed as a percentage of its interest-earning assets. Think of it like a grocery store’s markup: it shows the gap between buying cost and selling price per dollar of goods — here, the cost is interest paid and the sale is interest received. Investors watch it because a higher margin usually means a bank is more profitable and better at managing interest rate and credit conditions.

Pre-provision net revenue financial

"Pre-provision net revenue (“PPNR”) of $74.6 million"

Pre-provision net revenue is a bank’s income from core operations — interest earned minus interest paid plus fees and other operating income, after operating costs — measured before setting aside funds for potential loan losses. Investors use it to gauge how well a bank’s everyday business generates money independent of one-time loss reserves, like judging a store’s sales and operating profit before accounting for an expected number of returned items.

nonperforming assets financial

"The ratio of nonperforming assets to total assets was 1.03%"

Nonperforming assets are loans or investments that are not generating expected payments or returns because the borrower has fallen behind on payments or the investment has lost value. They matter to investors because a high level of nonperforming assets can indicate financial trouble for a bank or institution, potentially affecting its stability and profitability.

tax-equivalent basis financial

"all on a tax-equivalent basis"

A tax-equivalent basis is a way to compare investments by converting a tax-free return into the taxable return you would need to receive the same after-tax income, using your marginal tax rate. It matters to investors because it lets you compare dissimilar securities — for example, a tax-exempt bond versus a taxable bond — on an equal footing, much like converting different currencies to the same money before comparing prices.

tangible common equity to tangible assets financial

"tangible common equity to tangible assets ratio"

Tangible common equity to tangible assets is a ratio that compares the amount of common shareholders’ capital after removing intangible items (like goodwill) to a company’s physical and financial assets after the same removal. It tells investors how much real, loss‑absorbing capital supports each dollar of tangible assets—think of it as the safety cushion under a car: the thicker the cushion, the more protection against unexpected losses.

Earnings Snapshot

Net income: $42.4 million

Third quarter 2026

Net income $42.4 million Down $2.8 million from the prior-year quarter

Diluted earnings per share $1.14 Compared with $1.19 in the prior-year quarter

Net interest income $174.6 million Up $16.3 million from the prior-year quarter

Net interest margin 4.30% Up 7 basis points from the prior-year quarter

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What were EFSC's third-quarter 2026 earnings?

EFSC reported $42.4 million in net income and diluted earnings of $1.14 per share. Net interest income was $174.6 million, up $16.3 million from the prior-year quarter.

What common dividend did EFSC approve for the fourth quarter of 2026?

EFSC approved a $0.36-per-share common dividend, an increase of $0.01. It is payable December 31, 2026, to stockholders of record as of December 15, 2026.

How many shares did EFSC repurchase in the third quarter, and at what average price?

EFSC repurchased 525,767 shares at an average price of $64.74 per share during the third quarter of 2026.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Understanding 8-K Material Events →

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Available on EDGAR 10/21/2026 - 04:12 PM EDT Accepted by SEC EDGAR 10/21/2026 - 04:05 PM EDT Learn about SEC filing dates

0001025835FALSE150 N. Meramec AvenueSt. LouisMissouri6310500010258352026-10-212026-10-210001025835us-gaap:CommonStockMember2026-10-212026-10-210001025835efsc:DepositarySharesMember2026-10-212026-10-21

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) 

October 21, 2026

ENTERPRISE FINANCIAL SERVICES CORP

(Exact name of registrant as specified in its charter)

Delaware			001-15373			43-1706259
(State or Other Jurisdiction of Incorporation)			(Commission File Number)			(IRS Employer Identification No.)

150 N. Meramec Avenue, St. Louis, Missouri (Address of principal executive offices) 63105 (Zip Code)

Registrant's telephone number, including area code

(314) 725-5500

Not applicable 

(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 Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock, par value $0.01 per share

EFSC

Nasdaq Global Select Market

Depositary Shares, Each Representing a 1/40th Interest in a Share of 5.00% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A

EFSCP

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 October 21, 2026, Enterprise Financial Services Corp (the "Company" or "EFSC") issued a press release announcing financial information for the quarter ended September 30, 2026. A copy of the press release is furnished as Exhibit 99.1 and is incorporated herein by reference.

On October 22, 2026, at 10:00 a.m. Central time, the Company intends to hold a webcast to present information on its results of operations for the quarter ended September 30, 2026. The slide presentation which will accompany the webcast is furnished as Exhibit 99.2 and is incorporated herein by reference.

The press release, slide presentation and information contained therein and in this Item 2.02 shall not be deemed “filed” with the Securities and Exchange Commission.

Item 9.01 Financial Statements and Exhibits.

(d)     Exhibits.

Exhibit Number						Description
99.1						Press Release dated October 21, 2026.
99.2						Presentation to be conducted October 22, 2026.
104						The cover page of this Current Report on Form 8-K, formatted in Inline XBRL.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

ENTERPRISE FINANCIAL SERVICES CORP

Date:

October 21, 2026

By:

/s/ Troy R. Dumlao

Troy R. Dumlao

Executive Vice President and Chief Accounting Officer

EXHIBIT 99.1

ENTERPRISE FINANCIAL SERVICES CORP REPORTS THIRD QUARTER 2026 RESULTS

Third Quarter Results

•Net income of $42.4 million, or $1.14 per diluted common share, compared to $1.09 for the linked quarter and $1.19 for the prior year quarter

•Net interest margin (“NIM”) of 4.30%, stable with the linked quarter

•Net interest income of $174.6 million, quarterly increase of $5.9 million

•Total loans of $12.3 billion, quarterly increase of $452.3 million

•Total deposits of $15.1 billion, quarterly increase of $624.4 million

•Return on average assets (“ROAA”) of 0.95% for the current and linked quarters, compared to 1.11% for the prior year quarter

•Return on average tangible common equity (“ROATCE”)1 of 10.74%, compared to 10.39% for the linked quarter and 11.56% for the prior year quarter

•Tangible common equity to tangible assets1 of 8.13%, compared to 9.04% in the linked quarter and 9.60% in the prior year quarter

•Tangible book value per common share1 of $39.45, compared to $42.30 for the linked quarter and $41.58 for the prior year quarter

•Returned $46.5 million to stockholders through the repurchase of 525,767 shares for $34.0 million and $12.5 million through common stock dividends

•Increased quarterly dividend $0.01 to $0.36 per common share for the fourth quarter 2026

St. Louis, MO. October 21, 2026 – Enterprise Financial Services Corp (Nasdaq: EFSC) (the “Company” or “EFSC”) today announced financial results for the third quarter of 2026. “The strong loan and deposit growth that our team delivered this quarter reflects our associates’ continued commitment to our clients and the strength of our diversified business platform,” said Jim Lally, President and Chief Executive Officer. “We have continued to grow net interest income which helped offset a higher provision for credit losses for the quarter. The strength of our balance sheet and solid return profile provides the foundation to support our growth while continuing to return capital to stockholders.”

Comparisons to the prior year quarter are affected by the acquisition of 12 branches in Arizona and Kansas in the fourth quarter 2025 (the “Branch Acquisition”). Noninterest income for the prior year quarter also included $32.1 million of anticipated insurance proceeds from a pending claim related to a recapture event with respect to a $24.1 million solar tax credit that the Company purchased and applied to prior taxable periods. The anticipated proceeds from the insurance policy and tax liability resulting from the recapture event, both totaling $32.1 million, are included in “Noninterest Income” and “Income Tax Expense”, respectively, in the Condensed Consolidated Statements of Income for the three and nine months ended September 30, 2025.

1 ROATCE, tangible common equity to tangible assets, and tangible book value per common share are non-GAAP measures. Please refer to discussion and reconciliation of these measures in the accompanying financial tables.

Highlights

•Earnings - Net income in the third quarter 2026 was $42.4 million, an increase of $1.5 million and a decrease of $2.8 million compared to the linked and prior year quarters, respectively. Earnings per diluted common share for the third quarter 2026 was $1.14, compared to $1.09 and $1.19 for the linked and prior year quarters, respectively. Adjusted diluted earnings per share2 was $1.17 in the third quarter 2026, compared to $1.13 and $1.20 in the linked and prior year quarters, respectively.

•Pre-provision net revenue (“PPNR”)2 - PPNR of $74.6 million in the third quarter 2026 increased $6.4 million and $9.0 million from the linked and prior year quarter, respectively. The increase from the linked and prior year quarters was primarily due to an increase in net interest income. Compared to the prior year quarter, the increase was partially offset by an increase in noninterest expense.

•Net interest income and NIM - Net interest income of $174.6 million for the third quarter 2026 increased $5.9 million and $16.3 million from the linked and prior year quarters, respectively. Compared to the linked quarter, net interest income benefitted from organic loan growth, as well as an additional day during the period. Compared to the prior year quarter, net interest income increased primarily due to higher average loan and investment balances and a decrease on rates paid on interest-bearing liabilities. NIM was 4.30% for the current and linked quarters, respectively, and 4.23% for the prior year quarter. The total cost of deposits of 1.54% for the third quarter 2026 increased one basis point and decreased 26 basis points from the linked and prior year quarters, respectively.

•Noninterest income - Noninterest income of $13.2 million for the third quarter 2026 decreased $0.3 million and $35.4 million from the linked and prior year quarters, respectively. Excluding the anticipated insurance proceeds from the pending claim related to the tax credit recapture event included in the prior year quarter, noninterest income decreased $3.3 million from the prior year quarter. The decrease in noninterest income from the linked and prior year quarters was primarily due to a decrease in tax credit income and a net loss on other real estate owned (“OREO”), partially offset by higher rental income included in other income.

•Noninterest expense - Noninterest expense of $114.7 million for the third quarter 2026 decreased $1.1 million from the linked quarter and increased $4.9 million from the prior year quarter. The decrease from the linked quarter was primarily driven by lower employee compensation, partially offset by an increase in loan and legal expenses related to OREO and loan workouts. Compared to the prior year quarter, the increase was primarily due to an increase in loan and legal expenses related to OREO and loan workouts, and higher employee compensation as a result of an increase in the associate base and merit increases.

•Loans - Loans totaled $12.3 billion at September 30, 2026, an increase of $452.3 million and $761.6 million from the linked and prior year quarters, respectively. Average loans totaled $12.1 billion for the current quarter, compared to $11.8 billion and $11.5 billion for the linked and prior year quarters, respectively.

•Asset quality - The allowance for credit losses to total loans was 1.17% at September 30, 2026 and June 30, 2026, respectively, and 1.29% at September 30, 2025. The provision for credit losses in the third quarter 2026 was $18.1 million, compared to $14.2 million and $8.4 million for the linked and prior year quarters, respectively. The ratio of nonperforming assets to total assets was 1.03% at September 30, 2026, compared to 0.92% and 0.83% at June 30, 2026 and September 30, 2025, respectively.

2 Adjusted diluted earnings per share and PPNR are non-GAAP measures. Please refer to discussion and reconciliation of these measures in the accompanying financial tables.

2

•Deposits - Deposits totaled $15.1 billion at September 30, 2026, an increase of $624.4 million and $1.6 billion from the linked and prior year quarters, respectively. Average deposits were $15.0 billion for the current quarter, compared to $14.6 billion and $13.6 billion for the linked and prior year quarter, respectively. At September 30, 2026, noninterest-bearing deposit accounts totaled $5.0 billion, or 33% of total deposits, and the loan to deposit ratio was 82%.

•Capital - Total stockholders’ equity was $1.9 billion and the tangible common equity to tangible assets ratio3 was 8.13% at September 30, 2026, compared to $2.0 billion and 9.04%, respectively, at June 30, 2026. Enterprise Bank & Trust remains “well-capitalized,” with a common equity tier 1 ratio of 11.8% and a total risk-based capital ratio of 12.8% at September 30, 2026. The Company’s common equity tier 1 ratio and total risk-based capital ratio were 11.1% and 14.4%, respectively, at September 30, 2026.

The Company’s Board of Directors (the “Board”) approved a quarterly dividend of $0.36 per common share, payable on December 31, 2026 to stockholders of record as of December 15, 2026. The Board also declared a cash dividend of $12.50 per share of Series A Preferred Stock (or $0.3125 per depositary share) representing a 5% per annum rate for the period commencing (and including) September 15, 2026 to (but excluding) December 15, 2026. The dividend will be payable on December 15, 2026 to stockholders of record of Series A Preferred Stock as of November 30, 2026.

3 Tangible common equity to tangible assets ratio is a non-GAAP measure. Please refer to discussion and reconciliation of this measure in the accompanying financial tables.

3

Net Interest Income and NIM

Average Balance Sheets

The following table presents, for the periods indicated, certain information related to the average interest-earning assets and interest-bearing liabilities, as well as the corresponding average interest rates earned and paid, all on a tax-equivalent basis.

			Quarter ended
			September 30, 2026																		June 30, 2026																		September 30, 2025
($ in thousands)			Average Balance						Interest Income/ Expense						Average Yield/ Rate						Average Balance						Interest Income/ Expense						Average Yield/ Rate						Average Balance						Interest Income/ Expense						Average Yield/ Rate
Assets
Interest-earning assets:
Loans1, 2			$	12,067,288					$	195,309					6.42		%				$	11,775,879					$	188,819					6.43		%				$	11,454,183					$	191,589					6.64		%
Taxable securities			2,589,972						29,378						4.50						2,539,301						27,898						4.41						2,100,748						21,705						4.10
Non-taxable securities2			1,294,511						12,510						3.83						1,294,693						12,317						3.82						1,252,557						11,503						3.64
Total securities			3,884,483						41,888						4.28						3,833,994						40,215						4.21						3,353,305						33,208						3.93
Interest-earning deposits			465,119						4,343						3.70						431,044						3,697						3.44						328,392						3,638						4.40
Total interest-earning assets			16,416,890						241,540						5.84						16,040,917						232,731						5.82						15,135,880						228,435						5.99
Noninterest-earning assets			1,279,189																		1,266,799																		1,042,208
Total assets			$	17,696,079																	$	17,307,716																	$	16,178,088
Liabilities and Stockholders’ Equity
Interest-bearing liabilities:
Interest-bearing demand accounts			$	3,641,074					$	16,877					1.84		%				$	3,438,895					$	15,149					1.77		%				$	3,298,022					$	17,488					2.10		%
Money market accounts			4,047,970						26,316						2.58						4,009,504						25,788						2.58						3,706,891						28,734						3.08
Savings accounts			536,184						170						0.13						546,880						164						0.12						532,015						183						0.14
Certificates of deposit			1,697,479						14,648						3.42						1,698,565						14,569						3.44						1,609,346						15,210						3.75
Total interest-bearing deposits			9,922,707						58,011						2.32						9,693,844						55,670						2.30						9,146,274						61,615						2.67
Subordinated debentures and notes			262,795						4,408						6.65						120,277						2,061						6.87						136,895						2,683						7.78
FHLB advances			19,511						200						4.07						88,011						861						3.92						106,130						1,207						4.51
Securities sold under agreements to repurchase			169,322						914						2.14						200,060						1,162						2.33						159,039						1,155						2.88
Other borrowings			36,262						95						1.04						84,609						843						4.00						56,164						444						3.14
Total interest-bearing liabilities			10,410,597						63,628						2.42						10,186,801						60,597						2.39						9,604,502						67,104						2.77
Noninterest-bearing liabilities:
Demand deposits			5,065,373																		4,914,670																		4,458,028
Other liabilities			179,865																		154,012																		151,432
Total liabilities			15,655,835																		15,255,483																		14,213,962
Stockholders' equity			2,040,244																		2,052,233																		1,964,126
Total liabilities and stockholders' equity			$	17,696,079																	$	17,307,716																	$	16,178,088
Total net interest income									$	177,912																	$	172,134																	$	161,331
Net interest margin															4.30		%																4.30		%																4.23		%
1 Average balances include nonaccrual loans. Interest income includes net loan fees of $2.0 million, $1.5 million, and $1.9 million for each of the three months ended September 30, 2026, June 30, 2026, and September 30, 2025, respectively.
2 Non-taxable income is presented on a fully tax-equivalent basis using a tax rate of approximately 25%. The tax-equivalent adjustments were $3.3 million, $3.4 million, and $3.0 million for each of the three months ended September 30, 2026, June 30, 2026, and September 30, 2025, respectively.

4

Net interest income of $174.6 million for the third quarter 2026 increased $5.9 million and $16.3 million from the linked and prior year quarters, respectively. Net interest income on a tax-equivalent basis was $177.9 million, $172.1 million and $161.3 million for the current, linked and prior year quarters, respectively. The increase from the linked quarter reflects organic loan growth and the benefit of one additional day compared to the linked quarter. These increases were partially offset by an increase in the average balance of interest-bearing liabilities. Compared to the prior year quarter, the increase in net interest income was primarily due to growth in the average balance of interest-earning assets and lower rates paid on interest-bearing liabilities, specifically certificates of deposit and money market accounts.

Interest income for the third quarter 2026 increased $8.9 million and $12.8 million from the linked and prior year quarters, respectively. The increase from the linked quarter was primarily due to a $291.4 million increase in average loans, a $50.5 million increase in average securities balances and one additional day during the period. Compared to the prior year quarter, the increase in interest income was primarily due to an increase of $613.1 million and $531.2 million in average loan and investment securities balances, respectively, partially offset by a 15 basis point decrease in the yield on interest-earning assets. The average interest rate of new loan originations in the third quarter 2026 was 6.61%, and investment purchases in the third quarter 2026 had a weighted average, tax-equivalent yield of 4.74%.

Interest expense in the third quarter 2026 increased $3.0 million and decreased $3.5 million from the linked and prior year quarters, respectively. Compared to the linked quarter, the increase in interest expense was primarily due to the first full quarter of $175 million of subordinated debt issued in the linked quarter and higher interest-bearing demand account balances, partially offset by the redemption of $7.7 million of 10.2% fixed rate trust preferred securities in the current quarter. Compared to the prior year quarter, the decrease was primarily due to decreased interest paid on interest-bearing liabilities, partially offset by a $806.1 million increase in the average balance of interest-bearing liabilities. The rate paid on interest-bearing liabilities was 2.42% during the third quarter 2026, compared to 2.39% and 2.77% in the linked and prior year quarters, respectively.

NIM, on a tax-equivalent basis, was 4.30% in the third quarter 2026, stable with the linked quarter and an increase of seven basis points from the prior year quarter. For the month of September 2026, the loan portfolio yield was 6.47% and the cost of total deposits was 1.57%.

Investments

			At
			September 30, 2026												June 30, 2026												September 30, 2025
($ in thousands)			Carrying Value						Net Unrealized Loss						Carrying Value						Net Unrealized Loss						Carrying Value						Net Unrealized Loss
Available-for-sale (AFS)			$	2,730,596					$	(251,071)					$	2,795,725					$	(101,080)					$	2,351,493					$	(102,269)
Held-to-maturity (HTM)			1,030,084						(116,265)						1,036,477						(38,163)						1,081,847						(49,656)
Total			$	3,760,680					$	(367,336)					$	3,832,202					$	(139,243)					$	3,433,340					$	(151,925)

Investment securities totaled $3.8 billion at September 30, 2026, a decrease of $71.5 million from the linked quarter. The tangible common equity to tangible assets ratio adjusted for unrealized losses on HTM securities4 was 7.63% at September 30, 2026, compared to 8.87% at June 30, 2026.

4 The tangible common equity to tangible assets ratio adjusted for unrealized losses on held-to-maturity securities is a non-GAAP measure. Refer to discussion and reconciliation of this measure in the accompanying financial tables.

5

Loans

The following table presents total loans for the most recent five quarters:

			At
($ in thousands)			September 30, 2026						June 30, 2026						March 31, 2026						December 31, 2025						September 30, 2025
C&I			$	2,707,185					$	2,628,065					$	2,655,273					$	2,606,472					$	2,320,868
CRE investor owned			3,040,845						2,902,890						2,763,227						2,786,139						2,626,657
CRE owner occupied			1,454,715						1,421,859						1,452,350						1,404,704						1,296,902
SBA loans*			1,245,288						1,237,294						1,230,455						1,262,456						1,257,817
Sponsor finance*			713,614						708,449						661,946						694,905						774,142
Life insurance premium financing*			1,349,925						1,250,250						1,208,098						1,187,128						1,151,700
Tax credits*			749,810						725,452						702,080						802,818						780,767
Residential real estate			352,075						356,342						340,966						362,278						359,315
Construction and land development			681,068						608,923						621,988						633,803						784,218
Consumer**			50,180						52,875						56,397						59,635						230,723
Total loans			$	12,344,705					$	11,892,399					$	11,692,780					$	11,800,338					$	11,583,109
Quarterly loan yield			6.42		%				6.43		%				6.38		%				6.51		%				6.64		%
Loans by rate type (to total loans):
Fixed			37		%				37		%				37		%				40		%				41		%
Variable:			63		%				63		%				63		%				60		%				59		%
SOFR			33		%				32		%				32		%				30		%				29		%
Prime			23		%				24		%				24		%				23		%				23		%
Other			7		%				7		%				7		%				7		%				7		%
Variable rate loans to total loans, adjusted for interest rate hedges			57		%				58		%				59		%				56		%				55		%
*Specialty loan category
**Certain loans were reclassified from Consumer and into other categories in the fourth quarter of 2025. Prior period amounts were not adjusted.

Loans totaled $12.3 billion at September 30, 2026, an increase of $452.3 million compared to the linked quarter. The increase from the linked quarter was primarily driven by a 12% increase in the construction and land development portfolio, an 8% increase in the life insurance premium financing portfolio and a 5% increase in the CRE investor owned portfolio. Combined, these three categories accounted for $310 million in net loan growth during the current quarter. Loan production outpaced repayment activity in the quarter with loan volume of $1.3 billion compared to repayment activity of $800.7 million. Average line utilization was approximately 47% for the current and linked quarters, respectively, compared to 45% for the prior year quarter.

6

Asset Quality

The following table presents the categories of nonperforming assets and related ratios for the most recent five quarters:

			At
($ in thousands)			September 30, 2026						June 30, 2026						March 31, 2026						December 31, 2025						September 30, 2025
Nonperforming loans*			$	87,270					$	76,144					$	64,941					$	82,809					$	127,878
Other1			95,582						84,259						84,482						81,544						7,821
Nonperforming assets*			$	182,852					$	160,403					$	149,423					$	164,353					$	135,699
Nonperforming loans to total loans			0.71		%				0.64		%				0.56		%				0.70		%				1.10		%
Nonperforming assets to total assets			1.03		%				0.92		%				0.87		%				0.95		%				0.83		%
Allowance for credit losses			$	144,519					$	139,238					$	142,064					$	140,022					$	148,854
Allowance for credit losses to total loans			1.17		%				1.17		%				1.21		%				1.19		%				1.29		%
Allowance for credit losses to nonperforming loans*			165.6		%				182.9		%				218.8		%				169.1		%				116.4		%
Quarterly net charge-offs			$	11,036					$	13,555					$	4,407					$	20,674					$	4,057
*Guaranteed balances excluded			$	53,650					$	40,698					$	28,243					$	28,903					$	33,475
1OREO and repossessed assets transferred at fair value, and carried at the lesser of cost or market value.

The following table presents a summary of nonperforming assets by loan category as of September 30, 2026:

($ in thousands)			Nonperforming Loans						Government Guaranteed						Nonperforming Loans, net						ACL Reserve Allocation
C&I			$	34,193					$	(1,155)					$	33,038					$	(14,977)
CRE investor owned			32,762						(7,189)						25,573						(22)
CRE owner occupied			69,004						(43,300)						25,704						(1,482)
SBA (included in CRE owner occupied)			55,318						(43,300)						12,018						(658)
Other			4,961						(2,006)						2,955						(267)
Total			$	140,920					$	(53,650)					$	87,270					$	(16,748)
Other1															95,582
Nonperforming assets															$	182,852
1OREO and repossessed assets transferred at fair value, and carried at the lesser of cost or market value.

Nonperforming assets increased $22.4 million and $47.2 million from the linked and prior year quarters, respectively. In the current quarter, the Company foreclosed on a CRE relationship with a book value of $15.5 million that was transferred to OREO at fair market value, less selling costs, resulting in a partial charge-off of $2.6 million. The increase in nonperforming assets compared to the linked quarter is primarily due to $18.0 million in agricultural-related loans, a $7.5 million CRE relationship and a $4.1 million C&I relationship that went on nonaccrual.

The provision for credit losses totaled $18.1 million in the third quarter 2026, compared to $14.2 million and $8.4 million in the linked and prior year quarters, respectively. The third quarter 2026 provision for credit losses was driven mainly by $11.0 million in net charge-offs, the increase in nonperforming loans and organic loan growth. Charge-offs during the period primarily consisted of a $7.0 million C&I relationship in Missouri and the $2.6 million charge-off noted above. Annualized net charge-offs totaled 36 basis points of average loans in the current quarter, compared to 46 basis points in the linked quarter and 14 basis points of average loans in the prior year quarter.

7

Deposits

The following table presents deposits broken out by type for the most recent five quarters:

			At
($ in thousands)			September 30, 2026						June 30, 2026						March 31, 2026						December 31, 2025						September 30, 2025
Noninterest-bearing demand accounts			$	5,043,875					$	4,910,235					$	4,828,375					$	4,874,115					$	4,386,513
Interest-bearing demand accounts			3,723,393						3,406,505						3,395,680						3,537,334						3,301,621
Money market and savings accounts			4,664,512						4,482,011						4,610,662						4,528,510						4,228,605
Brokered certificates of deposit			735,993						736,377						724,788						721,977						762,499
Other certificates of deposit			959,191						967,423						964,892						947,406						888,674
Total deposit portfolio			$	15,126,964					$	14,502,551					$	14,524,397					$	14,609,342					$	13,567,912
Noninterest-bearing deposits to total deposits			33.3		%				33.9		%				33.2		%				33.4		%				32.3		%
Quarterly cost of deposits			1.54		%				1.53		%				1.52		%				1.64		%				1.80		%

Total deposits at September 30, 2026 were $15.1 billion, an increase of $624.4 million and $1.6 billion from the linked and prior year quarters, respectively. Average deposits for the three months ended September 30, 2026 were $15.0 billion, compared to $14.6 billion and $13.6 billion for the three months ended June 30, 2026 and September 30, 2025, respectively. Reciprocal deposits, which are placed through third party programs to provide FDIC insurance on larger deposit relationships, totaled $1.3 billion and $1.2 billion at September 30, 2026 and June 30, 2026, respectively.

Noninterest Income

The following table presents a comparative summary of the major components of noninterest income for the periods indicated:

			Linked quarter comparison																								Prior year comparison
			Quarter ended																								Quarter ended
($ in thousands)			September 30, 2026						June 30, 2026						Increase (decrease)												September 30, 2025						Increase (decrease)
Deposit service charges			$	5,407					$	5,477					$	(70)					(1)		%				$	4,935					$	472					10		%
Wealth management revenue			2,864						2,804						60						2		%				2,571						293						11		%
Card services revenue			2,621						2,545						76						3		%				2,535						86						3		%
Tax credit loss			(5,030)						(1,733)						(3,297)						(190)		%				(300)						(4,730)						(1,577)		%
Other income			7,352						4,385						2,967						68		%				38,883						(31,531)						(81)		%
Total noninterest income			$	13,214					$	13,478					$	(264)					(2)		%				$	48,624					$	(35,410)					(73)		%

Total noninterest income was $13.2 million for the third quarter 2026, a decrease of $0.3 million and $35.4 million from the linked and prior year quarters, respectively. The decrease from the linked quarter was primarily due to lower tax credit income, partially offset by an increase in other income, which is discussed further below. Compared to the prior year quarter, the decrease was primarily due to a decrease in other income, consisting primarily of the anticipated insurance proceeds from the tax credit recapture, and lower tax credit income. Tax credit income is typically highest in the fourth quarter of each year and will vary in other periods based on transaction volumes and fair value changes. Changes in the interest rate environment had a negative impact on tax credit projects carried at fair value.

8

The following table presents a comparative summary of the major components of other income for the periods indicated:

			Linked quarter comparison																								Prior year comparison
			Quarter ended																								Quarter ended
($ in thousands)			September 30, 2026						June 30, 2026						Increase (decrease)												September 30, 2025						Increase (decrease)
BOLI			$	1,803					$	2,427					$	(624)					(26)		%				$	2,062					$	(259)					(13)		%
Community development investments			495						404						91						23		%				309						186						60		%
Gain on SBA loan sales			—						—						—						—		%				1,140						(1,140)						(100)		%
Gain on sales of fixed assets			—						687						(687)						(100)		%				—						—						—		%
Net gain (loss) on OREO			(1,402)						(302)						(1,100)						364		%				7						(1,409)						(20,129)		%
Net loss on sales of investment securities			—						(2,146)						2,146						(100)		%				—						—						—		%
Private equity fund distributions			149						283						(134)						(47)		%				626						(477)						(76)		%
Servicing fees			679						540						139						26		%				587						92						16		%
Swap fees			9						131						(122)						(93)		%				341						(332)						(97)		%
Anticipated insurance recoveries			—						—						—						—		%				32,112						(32,112)						(100)		%
Miscellaneous income			5,619						2,361						3,258						138		%				1,699						3,920						231		%
Total other income			$	7,352					$	4,385					$	2,967					68		%				$	38,883					$	(31,531)					(81)		%

Other income in the third quarter 2026 increased $3.0 million and decreased $31.5 million compared to the linked and prior year quarters, respectively. The increase from the linked quarter was primarily due to a $3.8 million increase in rental income from OREO included in miscellaneous income and a $2.1 million net loss on sales of investment securities in the linked quarter that did not reoccur, partially offset by a $1.4 million net loss on OREO. Compared to the prior year quarter, the decrease was primarily driven by the $32.1 million in accrued insurance proceeds that are anticipated to be received as a result of the recaptured tax credits recognized in the prior year quarter that did not reoccur.

Noninterest Expense

The following table presents a comparative summary of the major components of noninterest expense for the periods indicated:

			Linked quarter comparison																								Prior year comparison
			Quarter ended																								Quarter ended
($ in thousands)			September 30, 2026						June 30, 2026						Increase (decrease)												September 30, 2025						Increase (decrease)
Employee compensation and benefits			$	50,581					$	53,114					$	(2,533)								(5)		%				$	49,640					$	941					2		%
Deposit costs			27,482						27,832						(350)									(1)		%				27,172						310						1		%
Occupancy			5,893						5,909						(16)									—		%				4,895						998						20		%
Acquisition costs			—						—						—									—		%				609						(609)						(100)		%
Other expense			30,698						28,884						1,814									6		%				27,474						3,224						12		%
Total noninterest expense			$	114,654					$	115,739					$	(1,085)								(1)		%				$	109,790					$	4,864					4		%

Noninterest expense decreased $1.1 million from the linked quarter and increased $4.9 million from the prior year quarter. The decrease from the linked quarter was primarily due to a $2.5 million decrease in employee compensation and benefits from a lower associate base and a reduction in variable compensation accruals, partially offset by an increase in loan, legal, foreclosure and property maintenance expenses related to OREO and loan workouts.

9

The increase in noninterest expense from the prior year quarter was primarily due to an increase of $2.5 million in loan, legal, foreclosure and property maintenance expenses related to OREO and loan workouts, and an increase in the associate base as a result of the Branch Acquisition and merit increases throughout 2025 and 2026. For the third quarter 2026, the core efficiency ratio5 was 58.9%, compared to 61.1% for the linked quarter and 61.0% for the prior year quarter.

Income Taxes

The effective tax rate for the current quarter was 22.9%, compared to 21.7% and 49.0% in the linked and prior year quarters, respectively. Included in tax expense during the prior year quarter is $24.1 million in transferrable tax credits that were recaptured as discussed above and approximately $8.0 million of incremental tax liability attributable to the anticipated insurance proceeds from the insured recaptured credits. Excluding these items, the adjusted effective tax rate5 for the third quarter 2025 was 20.0%. The increase in the effective tax rate from the linked and prior year quarters was due to an increase in state taxes.

Capital

The following table presents total equity and various capital ratios for the most recent five quarters:

			At
($ in thousands)			September 30, 2026*						June 30, 2026						March 31, 2026						December 31 2025						September 30, 2025
Stockholders’ equity			$	1,917,326					$	2,040,846					$	2,022,204					$	2,039,386					$	1,982,332
Total risk-based capital to risk-weighted assets			14.4		%				15.0		%				13.9		%				13.9		%				14.4		%
Tier 1 capital to risk weighted assets			12.2		%				12.7		%				12.9		%				12.8		%				13.3		%
Common equity tier 1 capital to risk-weighted assets			11.1		%				11.5		%				11.7		%				11.6		%				12.0		%
Leverage ratio			10.2		%				10.4		%				10.4		%				10.5		%				11.1		%
Tangible common equity to tangible assets5			8.13		%				9.04		%				9.01		%				9.07		%				9.60		%

*Capital ratios for the current quarter are preliminary and subject to, among other things, completion and filing of the Company’s regulatory reports and ongoing regulatory review.

Total equity was $1.9 billion at September 30, 2026, a decrease of $123.5 million and $65.0 million from the linked and prior year quarters, respectively. The decrease in total equity was primarily due to higher unrealized losses on the AFS investment securities portfolio due to an increase in interest rates. Tangible book value per common share5 was $39.45 at September 30, 2026, compared to $42.30 and $41.58 at June 30, 2026 and September 30, 2025, respectively. The Company repurchased 525,767 shares at an average price of $64.74 in the third quarter 2026.

The Company’s regulatory capital ratios continue to exceed the “well-capitalized” regulatory benchmark. Capital ratios for the current quarter are subject to, among other things, completion and filing of the Company’s regulatory reports and ongoing regulatory review.

5 Core efficiency ratio, adjusted effective tax rate, tangible common equity to tangible assets, and tangible book value per common share are non-GAAP measures. Refer to discussion and reconciliation of these measures in the accompanying financial tables.

10

Use of Non-GAAP Financial Measures

The Company’s accounting and reporting policies conform to generally accepted accounting principles in the United States (“GAAP”) and the prevailing practices in the banking industry. However, the Company provides other financial measures, such as tangible common equity, PPNR, ROATCE, adjusted ROATCE, core efficiency ratio, adjusted effective tax rate, tangible common equity to tangible assets ratio, tangible common equity to tangible assets ratio adjusted for unrealized losses on held-to-maturity securities, tangible book value per common share, return on average common equity, adjusted return on average common equity, allowance for credit losses to total loans excluding guaranteed loans, adjusted ROAA, and adjusted diluted earnings per share, in this release that are considered “non-GAAP financial measures.” Generally, a non-GAAP financial measure is a numerical measure of a company’s financial performance, financial position, or cash flows that exclude (or include) amounts that are included in (or excluded from) the most directly comparable measure calculated and presented in accordance with GAAP.

The Company considers its tangible common equity, PPNR, ROATCE, adjusted ROATCE, core efficiency ratio, adjusted effective tax rate, tangible common equity to tangible assets ratio, tangible common equity to tangible assets ratio adjusted for unrealized losses on held-to-maturity securities, tangible book value per common share, return on average common equity, adjusted return on average common equity, allowance for credit losses to total loans excluding guaranteed loans, adjusted ROAA and adjusted diluted earnings per share, collectively “core performance measures,” presented in this earnings release and the included tables as important measures of financial performance, even though they are non-GAAP measures, as they provide supplemental information by which to evaluate the impact of certain non-comparable items, and the Company’s operating performance on an ongoing basis. Core performance measures exclude certain other income and expense items, such as the FDIC special assessment, acquisition costs, accrued insurance proceeds anticipated to be received as a result of recaptured tax credits, the net gain or loss on sales of fixed assets, the net gain or loss on OREO and the net gain or loss on sales of investment securities, that the Company believes to be not indicative of or useful to measure the Company’s operating performance on an ongoing basis. The attached tables contain a reconciliation of these core performance measures to the GAAP measures. The Company believes that the tangible common equity to tangible assets ratio provides useful information to investors about the Company’s capital strength even though it is considered to be a non-GAAP financial measure and is not part of the regulatory capital requirements to which the Company is subject.

The Company believes these non-GAAP measures and ratios, when taken together with the corresponding GAAP measures and ratios, provide meaningful supplemental information regarding the Company’s performance and capital strength. The Company’s management uses, and believes that investors benefit from referring to, these non-GAAP measures and ratios in assessing the Company’s operating results and related trends and when forecasting future periods. However, these non-GAAP measures and ratios should be considered in addition to, and not as a substitute for or preferable to, ratios prepared in accordance with GAAP. In the attached tables, the Company has provided a reconciliation of, where applicable, the most comparable GAAP financial measures and ratios to the non-GAAP financial measures and ratios, or a reconciliation of the non-GAAP calculation of the financial measures for the periods indicated.

Conference Call and Webcast Information

The Company will host a conference call and webcast at 10:00 a.m. Central Time on Thursday, October 22, 2026. During the call, management will review the third quarter 2026 results and related matters. This press release as well as a related slide presentation will be accessible via the “Investor Relations” page of the Company’s website, https://investor.enterprisebank.com/events-and-presentations, prior to the scheduled broadcast of the conference call. The call can be accessed via this same website page, or via telephone at 1-833-461-5787. After connecting, you may say the name of the conference or enter the Conference ID 416436528. We encourage participants to pre-register for the conference call using the following link: https://bit.ly/EFSC3Q2026EarningsCallRegistration. Callers who pre-register will be given a conference passcode and unique PIN to gain immediate access to the call and bypass the live operator. Participants may pre-register at any time, including up to and after the call start time. A recorded replay of the conference call will be available on the website after the call’s completion. The replay will be available for at least two weeks following the conference call.

11

About Enterprise Financial Services Corp

Enterprise Financial Services Corp (Nasdaq: EFSC), with approximately $17.8 billion in assets, is a financial holding company headquartered in Clayton, Missouri. Enterprise Bank & Trust, a Missouri state-chartered trust company with banking powers and a wholly-owned subsidiary of EFSC, operates branch offices in Arizona, California, Kansas, Missouri, Nevada, and New Mexico, and SBA loan and deposit production offices throughout the country. Enterprise Bank & Trust offers a range of business and personal banking services and wealth management services. Enterprise Trust, a division of Enterprise Bank & Trust, provides financial planning, estate planning, investment management and trust services to businesses, individuals, institutions, retirement plans and non-profit organizations. Additional information is available at www.enterprisebank.com.

Enterprise Financial Services Corp’s common stock is traded on the Nasdaq Global Select Market under the symbol “EFSC.” Please visit our website at www.enterprisebank.com to see our regularly posted material information.

Forward-looking Statements

Readers should note that, in addition to the historical information contained herein, this press release contains “forward-looking statements” within the meaning of, and intended to be covered by, the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on management’s current expectations and beliefs concerning future developments and their potential effects on the Company including, without limitation, plans, strategies and goals, and statements about the Company’s expectations regarding revenue and asset growth, financial performance and profitability, loan and deposit growth, liquidity, yields and returns, loan diversification and credit management, stockholder value creation and the impact of acquisitions.

Forward-looking statements are typically identified by words such as “believe,” “expect,” “anticipate,” “intend,” “outlook,” “estimate,” “forecast,” “project,” “pro forma”, “pipeline” and other similar words and expressions. Forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time. Forward-looking statements speak only as of the date they are made. Because forward-looking statements are subject to assumptions and uncertainties, actual results or future events could differ, possibly materially, from those anticipated in the forward-looking statements and future results could differ materially from historical performance. They are neither statements of historical fact nor guarantees or assurances of future performance. While there is no assurance that any list of risks and uncertainties or risk factors is complete, important factors that could cause actual results to differ materially from those in the forward-looking statements include the following, without limitation: the Company’s ability to efficiently integrate acquisitions into its operations, retain the customers of these businesses and grow the acquired operations, the Company’s ability to collect insurance proceeds from claims made related to tax recapture events, credit risk, changes in the appraised valuation of real estate securing impaired loans, outcomes of litigation and other contingencies, exposure to general and local economic and market conditions, high unemployment rates, higher inflation and its impacts (including U.S. federal government measures to address higher inflation), impacts of trade and tariff policies, U.S. fiscal debt, budget, debt ceiling and tax matters , and any slowdown in global economic growth, risks associated with rapid increases or decreases in prevailing interest rates, our ability to attract and retain deposits and access to other sources of liquidity, changes in business prospects that could impact goodwill estimates and assumptions, consolidation in the banking industry, competition from banks and other financial institutions, the Company’s ability to attract and retain relationship officers and other key personnel, burdens imposed by federal and state regulation, changes in legislative or regulatory requirements, as well as current, pending or future legislation or regulation that could have a negative effect on our revenue and businesses, including rules and regulations relating to bank products and financial services, changes in accounting policies and practices or accounting standards, natural disasters (including wildfires and earthquakes), terrorist activities, war and geopolitical instability (including in Israel, Iran and Ukraine and the imposition of additional sanctions and export controls in connection therewith), or pandemics, or other health emergencies and their effects on economic and business environments in which we operate, including the related disruption to the financial market and other economic activity, cybersecurity threats and the cost of defending against them, and those factors and risks referenced from time to time in the Company’s filings with the Securities and Exchange Commission (the “SEC”), including in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025,

12

and the Company’s other filings with the SEC. The Company cautions that the preceding list is not exhaustive of all possible risk factors and other factors could also adversely affect the Company’s results.

For any forward-looking statements made in this press release or in any documents, EFSC claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.

Readers are cautioned not to place undue reliance on any forward-looking statements. Except to the extent required by applicable law or regulation, EFSC disclaims any obligation to revise or publicly release any revision or update to any of the forward-looking statements included herein to reflect events or circumstances that occur after the date on which such statements were made.

For more information contact:

Investor Relations

Keene Turner, Senior Executive Vice President, CFO and COO (314) 512-7233

Dakota Danescu, Senior Investor Relations Analyst (314) 810-3623

Media

Steve Richardson, Senior Vice President, Corporate Communications (314) 995-5695

13

ENTERPRISE FINANCIAL SERVICES CORP

CONSOLIDATED FINANCIAL SUMMARY (unaudited)

			Quarter ended																														Nine months ended
(in thousands, except per share data)			Sep 30, 2026						Jun 30, 2026						Mar 31, 2026						Dec 31, 2025						Sep 30, 2025						Sep 30, 2026						Sep 30, 2025
EARNINGS SUMMARY
Net interest income			$	174,606					$	168,716					$	166,147					$	168,174					$	158,286					$	509,469					$	458,564
Provision for credit losses			18,107						14,210						7,243						9,236						8,447						39,560						17,101
Noninterest income			13,214						13,478						19,088						25,412						48,624						45,780						87,711
Noninterest expense			114,654						115,739						115,137						114,532						109,790						345,530						315,275
Income before income tax expense			55,059						52,245						62,855						69,818						88,673						170,159						213,899
Income tax expense			12,615						11,318						13,493						15,024						43,438						37,426						67,319
Net income			42,444						40,927						49,362						54,794						45,235						132,733						146,580
Preferred stock dividends			938						937						938						937						938						2,813						2,813
Net income available to common stockholders			$	41,506					$	39,990					$	48,424					$	53,857					$	44,297					$	129,920					$	143,767
Diluted earnings per common share			$	1.14					$	1.09					$	1.30					$	1.45					$	1.19					$	3.54					$	3.86
Adjusted diluted earnings per common share1			1.17						1.13						1.31						1.36						1.20						3.61						3.88
Return on average assets			0.95		%				0.95		%				1.16		%				1.27		%				1.11		%				1.02		%				1.23		%
Adjusted return on average assets1			0.98		%				0.98		%				1.16		%				1.19		%				1.12		%				1.04		%				1.24		%
Return on average common equity1			8.37		%				8.10		%				9.80		%				10.95		%				9.29		%				8.75		%				10.45		%
Adjusted return on average common equity1			8.58		%				8.37		%				9.84		%				10.28		%				9.40		%				8.93		%				10.51		%
ROATCE1			10.74		%				10.39		%				12.53		%				14.02		%				11.56		%				11.22		%				13.10		%
Adjusted ROATCE1			11.01		%				10.73		%				12.59		%				13.15		%				11.70		%				11.44		%				13.18		%
Net interest margin (tax-equivalent)			4.30		%				4.30		%				4.28		%				4.26		%				4.23		%				4.29		%				4.20		%
Efficiency ratio			61.0		%				63.5		%				62.2		%				59.2		%				53.1		%				62.2		%				57.7		%
Core efficiency ratio1			58.9		%				61.1		%				60.2		%				58.3		%				61.0		%				60.1		%				59.7		%
Assets			$	17,792,510					$	17,399,009					$	17,227,828					$	17,300,884					$	16,402,405
Average assets			$	17,696,079					$	17,307,716					$	17,311,103					$	17,099,429					$	16,178,088					$	17,439,709					$	15,895,563
Period end common shares outstanding			35,775						36,258						36,581						36,965						37,011
Dividends per common share			$	0.35					$	0.34					$	0.33					$	0.32					$	0.31					$	1.02					$	0.90
Tangible book value per common share1			$	39.45					$	42.30					$	41.38					$	41.37					$	41.58
Tangible common equity to tangible assets1			8.13		%				9.04		%				9.01		%				9.07		%				9.60		%
Total risk-based capital to risk-weighted assets2			14.4		%				15.0		%				13.9		%				13.9		%				14.4		%
1 Refer to Reconciliations of Non-GAAP Financial Measures tables for a reconciliation of these measures to GAAP.
2 Capital ratios for the current quarter are preliminary and subject to, among other things, completion and filing of the Company’s regulatory reports and ongoing regulatory review.

14

ENTERPRISE FINANCIAL SERVICES CORP

CONSOLIDATED FINANCIAL SUMMARY (unaudited) (continued)

			Quarter ended																														Nine months ended
(in thousands, except per share data)			Sep 30, 2026						Jun 30, 2026						Mar 31, 2026						Dec 31, 2025						Sep 30, 2025						Sep 30, 2026						Sep 30, 2025
INCOME STATEMENTS
NET INTEREST INCOME
Interest income			$	238,234					$	229,313					$	225,091					$	232,273					$	225,390					$	692,638					$	656,137
Interest expense			63,628						60,597						58,944						64,099						67,104						183,169						197,573
Net interest income			174,606						168,716						166,147						168,174						158,286						509,469						458,564
Provision for credit losses			18,107						14,210						7,243						9,236						8,447						39,560						17,101
Net interest income after provision for credit losses			156,499						154,506						158,904						158,938						149,839						469,909						441,463
NONINTEREST INCOME
Deposit service charges			5,407						5,477						5,256						5,081						4,935						16,140						14,295
Wealth management revenue			2,864						2,804						2,712						2,642						2,571						8,380						7,814
Card services revenue			2,621						2,545						2,535						2,621						2,535						7,701						7,374
Tax credit income (loss)			(5,030)						(1,733)						(179)						3,180						(300)						(6,942)						4,517
Insurance recoveries1			—						—						—						—						32,112						—						32,112
Other income			7,352						4,385						8,764						11,888						6,771						20,501						21,599
Total noninterest income			13,214						13,478						19,088						25,412						48,624						45,780						87,711
NONINTEREST EXPENSE
Employee compensation and benefits			50,581						53,114						55,759						50,149						49,640						159,454						148,012
Deposit costs			27,482						27,832						25,996						27,471						27,172						81,310						75,760
Occupancy			5,893						5,909						5,902						5,764						4,895						17,704						14,390
FDIC special assessment			—						—						—						(652)						—						—						—
Acquisition costs			—						—						—						2,548						609						—						1,127
Other expense			30,698						28,884						27,480						29,252						27,474						87,062						75,986
Total noninterest expense			114,654						115,739						115,137						114,532						109,790						345,530						315,275
Income before income tax expense			55,059						52,245						62,855						69,818						88,673						170,159						213,899
Income tax expense			12,615						11,318						13,493						15,024						11,326						37,426						35,207
Tax credit recapture and provision for anticipated tax applied to related insurance recoveries2			—						—						—						—						32,112						—						32,112
Total income tax expense			12,615						11,318						13,493						15,024						43,438						37,426						67,319
Net income			$	42,444					$	40,927					$	49,362					$	54,794					$	45,235					$	132,733					$	146,580
Preferred stock dividends			938						937						938						937						938						2,813						2,813
Net income available to common stockholders			$	41,506					$	39,990					$	48,424					$	53,857					$	44,297					$	129,920					$	143,767
Basic earnings per common share			$	1.15					$	1.10					$	1.31					$	1.46					$	1.20					$	3.56					$	3.89
Diluted earnings per common share			$	1.14					$	1.09					$	1.30					$	1.45					$	1.19					$	3.54					$	3.86
1 Represents anticipated proceeds from a pending insurance claim related to a third quarter 2025 solar tax credit recapture event.
2 Represents recapture of $24.1 million solar tax credit and approximately $8.0 million of estimated tax liability related to anticipated proceeds from pending insurance claim related to a third quarter 2025 recapture event.

15

ENTERPRISE FINANCIAL SERVICES CORP

CONSOLIDATED FINANCIAL SUMMARY (unaudited) (continued)

			At
($ in thousands)			Sep 30, 2026						Jun 30, 2026						Mar 31, 2026						Dec 31, 2025						Sep 30, 2025
BALANCE SHEET
ASSETS
Cash and due from banks			$	213,259					$	273,875					$	258,542					$	208,080					$	208,455
Interest-earning deposits			275,281						278,852						376,824						474,720						264,399
Debt and equity investments			3,881,344						3,960,834						3,911,106						3,810,876						3,527,467
Loans held for sale			202						1,145						418						928						681
Loans			12,344,705						11,892,399						11,692,780						11,800,338						11,583,109
Allowance for credit losses			(144,519)						(139,238)						(142,064)						(140,022)						(148,854)
Total loans, net			12,200,186						11,753,161						11,550,716						11,660,316						11,434,255
Fixed assets, net			56,819						57,318						57,956						58,993						49,248
Goodwill			416,968						416,968						416,968						416,968						365,164
Intangible assets, net			16,948						18,228						19,525						21,175						6,140
Other assets			731,503						638,628						635,773						648,828						546,596
Total assets			$	17,792,510					$	17,399,009					$	17,227,828					$	17,300,884					$	16,402,405
LIABILITIES AND STOCKHOLDERS’ EQUITY
Noninterest-bearing deposits			$	5,043,875					$	4,910,235					$	4,828,375					$	4,874,115					$	4,386,513
Interest-bearing deposits			10,083,089						9,592,316						9,696,022						9,735,227						9,181,399
Total deposits			15,126,964						14,502,551						14,524,397						14,609,342						13,567,912
Subordinated debentures and notes			258,409						265,910						93,759						93,688						93,617
FHLB advances			64,000						208,000						—						—						327,000
Other borrowings			179,532						208,166						319,345						387,717						247,006
Other liabilities			246,279						173,536						268,123						170,751						184,538
Total liabilities			15,875,184						15,358,163						15,205,624						15,261,498						14,420,073
Stockholders’ equity:
Preferred stock			71,988						71,988						71,988						71,988						71,988
Common stock			358						363						366						370						370
Additional paid-in capital			976,905						986,133						990,394						1,000,775						997,446
Retained earnings			1,064,907						1,056,072						1,041,038						1,020,840						980,548
Accumulated other comprehensive loss			(196,832)						(73,710)						(81,582)						(54,587)						(68,020)
Total stockholders’ equity			1,917,326						2,040,846						2,022,204						2,039,386						1,982,332
Total liabilities and stockholders’ equity			$	17,792,510					$	17,399,009					$	17,227,828					$	17,300,884					$	16,402,405

16

ENTERPRISE FINANCIAL SERVICES CORP

CONSOLIDATED FINANCIAL SUMMARY (unaudited) (continued)

			Nine months ended
			September 30, 2026																		September 30, 2025
($ in thousands)			Average Balance						Interest Income/ Expense						Average Yield/ Rate						Average Balance						Interest Income/ Expense						Average Yield/ Rate
AVERAGE BALANCE SHEET
Assets
Interest-earning assets:
Loans1, 2			$	11,874,692					$	569,508					6.41		%				$	11,351,848					$	561,635					6.61		%
Taxable securities			2,537,213						83,384						4.39						1,964,496						59,270						4.03
Nontaxable securities2			1,296,933						37,217						3.84						1,181,460						31,360						3.55
Total securities			3,834,146						120,601						4.21						3,145,956						90,630						3.85
Interest-earning deposits			466,757						12,573						3.60						373,870						12,130						4.34
Total interest-earning assets			16,175,595						702,682						5.81						14,871,674						664,395						5.97
Noninterest-earning assets			1,264,114																		1,023,889
Total assets			$	17,439,709																	$	15,895,563
Liabilities and Stockholders’ Equity
Interest-bearing liabilities:
Interest-bearing demand accounts			$	3,511,893					$	46,966					1.79		%				$	3,230,832					$	51,697					2.14		%
Money market accounts			4,003,666						77,302						2.58						3,656,546						85,675						3.13
Savings accounts			540,544						486						0.12						533,084						555						0.14
Certificates of deposit			1,687,456						43,676						3.46						1,491,047						42,933						3.85
Total interest-bearing deposits			9,743,559						168,430						2.31						8,911,509						180,860						2.71
Subordinated debentures and notes			159,552						7,991						6.70						150,015						7,982						7.11
FHLB advances			37,810						1,117						3.95						96,396						3,295						4.57
Securities sold under agreements to repurchase			212,777						3,690						2.32						211,429						4,764						3.01
Other borrowings			71,712						1,941						3.62						42,932						672						2.09
Total interest-bearing liabilities			10,225,410						183,169						2.39						9,412,281						197,573						2.81
Noninterest-bearing liabilities:
Demand deposits			4,993,391																		4,420,552
Other liabilities			164,714																		151,199
Total liabilities			15,383,515																		13,984,032
Stockholders' equity			2,056,194																		1,911,531
Total liabilities and stockholders' equity			$	17,439,709																	$	15,895,563
Total net interest income									$	519,513																	$	466,822
Net interest margin															4.29		%																4.20		%
1 Average balances include nonaccrual loans. Interest income includes net loan fees of $4.9 million and $5.3 million for the nine months ended September 30, 2026 and September 30, 2025, respectively.
2 Non-taxable income is presented on a fully tax-equivalent basis using a tax rate of approximately 25%. The tax-equivalent adjustments were $10.0 million and $8.3 million for the nine months ended September 30, 2026 and September 30, 2025, respectively.

17

ENTERPRISE FINANCIAL SERVICES CORP

CONSOLIDATED FINANCIAL SUMMARY (unaudited) (continued)

			At or for the quarter ended
($ in thousands)			Sep 30, 2026						Jun 30, 2026						Mar 31, 2026						Dec 31, 2025						Sep 30, 2025
LOAN PORTFOLIO
Commercial and industrial			$	5,467,434					$	5,257,840					$	5,168,533					$	5,231,616					$	4,943,561
Commercial real estate			5,725,119						5,556,856						5,453,966						5,453,821						5,178,649
Construction real estate			744,787						663,480						667,703						687,584						858,146
Residential real estate			357,184						361,346						346,181						367,682						365,010
Consumer			50,181						52,877						56,397						59,635						237,743
Total loans			$	12,344,705					$	11,892,399					$	11,692,780					$	11,800,338					$	11,583,109
DEPOSIT PORTFOLIO
Noninterest-bearing demand accounts			$	5,043,875					$	4,910,235					$	4,828,375					$	4,874,115					$	4,386,513
Interest-bearing demand accounts			3,723,393						3,406,505						3,395,680						3,537,334						3,301,621
Money market and savings accounts			4,664,512						4,482,011						4,610,662						4,528,510						4,228,605
Brokered certificates of deposit			735,993						736,377						724,788						721,977						762,499
Other certificates of deposit			959,191						967,423						964,892						947,406						888,674
Total deposits			$	15,126,964					$	14,502,551					$	14,524,397					$	14,609,342					$	13,567,912
AVERAGE BALANCES
Loans			$	12,067,288					$	11,775,879					$	11,777,727					$	11,794,459					$	11,454,183
Securities			3,884,483						3,833,994						3,782,844						3,623,965						3,353,305
Interest-earning assets			16,416,890						16,040,917						16,065,112						15,971,267						15,135,880
Assets			17,696,079						17,307,716						17,311,103						17,099,429						16,178,088
Deposits			14,988,080						14,608,514						14,609,433						14,537,381						13,604,302
Stockholders’ equity			2,040,244						2,052,233						2,076,504						2,022,472						1,964,126
Tangible common equity1			1,533,720						1,544,417						1,567,129						1,524,453						1,520,476
YIELDS (tax-equivalent)
Loans			6.42		%				6.43		%				6.38		%				6.51		%				6.64		%
Securities			4.28						4.21						4.13						4.02						3.93
Interest-earning assets			5.84						5.82						5.77						5.86						5.99
Interest-bearing deposits			2.32						2.30						2.31						2.46						2.67
Deposits			1.54						1.53						1.52						1.64						1.80
Subordinated debentures and notes			6.65						6.87						6.59						6.61						7.78
FHLB advances and other borrowed funds			2.13						3.08						2.92						3.27						3.47
Interest-bearing liabilities			2.42						2.39						2.37						2.52						2.77
Net interest margin			4.30						4.30						4.28						4.26						4.23

1 Refer to Reconciliations of Non-GAAP Financial Measures tables for a reconciliation of these measures to GAAP.

18

ENTERPRISE FINANCIAL SERVICES CORP

CONSOLIDATED FINANCIAL SUMMARY (unaudited) (continued)

			Quarter ended
(in thousands, except per share data)			Sep 30, 2026						Jun 30, 2026						Mar 31, 2026						Dec 31, 2025						Sep 30, 2025
ASSET QUALITY
Net charge-offs			$	11,036					$	13,555					$	4,407					$	20,674					$	4,057
Nonperforming loans			87,270						76,144						64,941						82,809						127,878
Classified assets			416,025						413,779						430,288						410,485						352,792
Nonperforming loans to total loans			0.71		%				0.64		%				0.56		%				0.70		%				1.10		%
Nonperforming assets to total assets			1.03		%				0.92		%				0.87		%				0.95		%				0.83		%
Allowance for credit losses to total loans			1.17		%				1.17		%				1.21		%				1.19		%				1.29		%
Allowance for credit losses to total loans, excluding guaranteed loans1			1.27		%				1.27		%				1.32		%				1.29		%				1.40		%
Allowance for credit losses to nonperforming loans			165.6		%				182.9		%				218.8		%				169.1		%				116.4		%
Net charge-offs to average loans - annualized			0.36		%				0.46		%				0.15		%				0.70		%				0.14		%
WEALTH MANAGEMENT
Trust assets under management			$	3,128,732					$	3,060,836					$	2,882,919					$	2,750,803					$	2,566,784
SHARE DATA
Book value per common share			$	51.58					$	54.30					$	53.31					$	53.22					$	51.62
Tangible book value per common share1			$	39.45					$	42.30					$	41.38					$	41.37					$	41.58
Market value per share			$	58.95					$	65.88					$	54.11					$	54.00					$	57.98
Period end common shares outstanding			35,775						36,258						36,581						36,965						37,011
Average basic common shares			36,055						36,438						36,907						36,997						37,015
Average diluted common shares			36,359						36,697						37,152						37,265						37,333
CAPITAL
Total risk-based capital to risk-weighted assets2			14.4		%				15.0		%				13.9		%				13.9		%				14.4		%
Tier 1 capital to risk-weighted assets2			12.2		%				12.7		%				12.9		%				12.8		%				13.3		%
Common equity tier 1 capital to risk-weighted assets2			11.1		%				11.5		%				11.7		%				11.6		%				12.0		%
Tangible common equity to tangible assets1			8.13		%				9.04		%				9.01		%				9.07		%				9.60		%
1 Refer to Reconciliations of Non-GAAP Financial Measures tables for a reconciliation of these measures to GAAP.
2 Capital ratios for the current quarter are preliminary and subject to, among other things, completion and filing of the Company’s regulatory reports and ongoing regulatory review.

19

ENTERPRISE FINANCIAL SERVICES CORP

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES

			Quarter ended																														Nine months ended
($ in thousands)			Sep 30, 2026						Jun 30, 2026						Mar 31, 2026						Dec 31, 2025						Sep 30, 2025						Sep 30, 2026						Sep 30, 2025
CORE EFFICIENCY RATIO
Net interest income (GAAP)			$	174,606					$	168,716					$	166,147					$	168,174					$	158,286					$	509,469					$	458,564
Tax-equivalent adjustment			3,306						3,418						3,320						3,477						3,045						10,044						8,258
Noninterest income (GAAP)			13,214						13,478						19,088						25,412						48,624						45,780						87,711
Less insurance recoveries1			—						—						—						—						32,112						—						32,112
Less gain on sales of fixed assets			—						687						—						—						—						687						—
Less net gain (loss) on sales of investment securities			—						(2,146)						—						(57)						—						(2,146)						106
Less net gain (loss) on OREO			(1,402)						(302)						(295)						6,169						7						(1,999)						86
Core revenue (non-GAAP)			$	192,528					$	187,373					$	188,850					$	190,951					$	177,836					$	568,751					$	522,229
Noninterest expense (GAAP)			$	114,654					$	115,739					$	115,137					$	114,532					$	109,790					$	345,530					$	315,275
Less FDIC special assessment			—						—						—						(652)						—						—						—
Less amortization on intangibles			1,279						1,297						1,400						1,380						736						3,976						2,344
Less acquisition costs			—						—						—						2,548						609						—						1,127
Core noninterest expense (non-GAAP)			$	113,375					$	114,442					$	113,737					$	111,256					$	108,445					$	341,554					$	311,804
Core efficiency ratio (non-GAAP)			58.9		%				61.1		%				60.2		%				58.3		%				61.0		%				60.1		%				59.7		%
1Represents anticipated proceeds from a pending insurance claim related to a third quarter 2025 solar tax credit recapture event.

			Quarter ended
(in thousands, except per share data)			Sep 30, 2026						Jun 30, 2026						Mar 31, 2026						Dec 31, 2025						Sep 30, 2025
TANGIBLE COMMON EQUITY, TANGIBLE BOOK VALUE PER COMMON SHARE AND TANGIBLE COMMON EQUITY RATIO
Stockholders’ equity (GAAP)			$	1,917,326					$	2,040,846					$	2,022,204					$	2,039,386					$	1,982,332
Less preferred stock			71,988						71,988						71,988						71,988						71,988
Less goodwill			416,968						416,968						416,968						416,968						365,164
Less intangible assets			16,948						18,228						19,525						21,175						6,140
Tangible common equity (non-GAAP)			$	1,411,422					$	1,533,662					$	1,513,723					$	1,529,255					$	1,539,040
Less net unrealized losses on HTM securities, after tax			87,082						28,584						39,080						26,431						37,341
Tangible common equity adjusted for unrealized losses on HTM securities (non-GAAP)			$	1,324,340					$	1,505,078					$	1,474,643					$	1,502,824					$	1,501,699
Common shares outstanding			35,775						36,258						36,581						36,965						37,011
Tangible book value per common share (non-GAAP)			$	39.45					$	42.30					$	41.38					$	41.37					$	41.58
Total assets (GAAP)			$	17,792,510					$	17,399,009					$	17,227,828					$	17,300,884					$	16,402,405
Less goodwill			416,968						416,968						416,968						416,968						365,164
Less intangible assets			16,948						18,228						19,525						21,175						6,140
Tangible assets (non-GAAP)			$	17,358,594					$	16,963,813					$	16,791,335					$	16,862,741					$	16,031,101
Tangible common equity to tangible assets (non-GAAP)			8.13		%				9.04		%				9.01		%				9.07		%				9.60		%
Tangible common equity to tangible assets adjusted for unrealized losses on HTM securities (non-GAAP)			7.63		%				8.87		%				8.78		%				8.91		%				9.37		%

20

			Quarter ended																														Nine months ended
($ in thousands)			Sep 30, 2026						Jun 30, 2026						Mar 31, 2026						Dec 31, 2025						Sep 30, 2025						Sep 30, 2026						Sep 30, 2025
RETURN ON AVERAGE TANGIBLE COMMON EQUITY (ROATCE), RETURN ON AVERAGE ASSETS (ROAA) AND DILUTED EARNINGS PER SHARE
Average stockholder’s equity (GAAP)			$	2,040,244					$	2,052,233					$	2,076,504					$	2,022,472					$	1,964,126					$	2,056,194					$	1,911,531
Less average preferred stock			71,988						71,988						71,988						71,988						71,988						71,988						71,988
Less average goodwill			416,968						416,968						416,968						414,858						365,164						416,968						365,164
Less average intangible assets			17,568						18,860						20,419						11,173						6,498						18,938						7,248
Average tangible common equity (non-GAAP)			$	1,533,720					$	1,544,417					$	1,567,129					$	1,524,453					$	1,520,476					$	1,548,300					$	1,467,131
Net income (GAAP)			$	42,444					$	40,927					$	49,362					$	54,794					$	45,235					$	132,733					$	146,580
FDIC special assessment (after tax)			—						—						—						(488)						—						—						—
Acquisition costs (after tax)			—						—						—						1,742						549						—						1,011
Less net gain on sales of fixed assets (after tax)			—						515						—						—						—						515						—
Less net gain (loss) on sales of investment securities (after tax)			—						(1,607)						—						(43)						—						(1,607)						80
Less net gain (loss) on OREO (after tax)			(1,050)						(226)						(221)						4,621						5						(1,497)						64
Net income adjusted (non-GAAP)			$	43,494					$	42,245					$	49,583					$	51,470					$	45,779					$	135,322					$	147,447
Less preferred stock dividends			938						937						938						937						938						2,813						2,813
Net income available to common stockholders adjusted (non-GAAP)			$	42,556					$	41,308					$	48,645					$	50,533					$	44,841					$	132,509					$	144,634
Return on average common equity (non-GAAP)			8.37		%				8.10		%				9.80		%				10.95		%				9.29		%				8.75		%				10.45		%
Adjusted return on average common equity (non-GAAP)			8.58		%				8.37		%				9.84		%				10.28		%				9.40		%				8.93		%				10.51		%
ROATCE (non-GAAP)			10.74		%				10.39		%				12.53		%				14.02		%				11.56		%				11.22		%				13.10		%
Adjusted ROATCE (non-GAAP)			11.01		%				10.73		%				12.59		%				13.15		%				11.70		%				11.44		%				13.18		%
Average assets			$	17,696,079					$	17,307,716					$	17,311,103					$	17,099,429					$	16,178,088					$	17,439,709					$	15,895,563
Return on average assets (GAAP)			0.95		%				0.95		%				1.16		%				1.27		%				1.11		%				1.02		%				1.23		%
Adjusted return on average assets (non-GAAP)			0.98		%				0.98		%				1.16		%				1.19		%				1.12		%				1.04		%				1.24		%
Average diluted common shares			36,359						36,697						37,152						37,265						37,333						36,727						37,273
Diluted earnings per share (GAAP)			$	1.14					$	1.09					$	1.30					$	1.45					$	1.19					$	3.54					$	3.86
Adjusted diluted earnings per share (non-GAAP)			$	1.17					$	1.13					$	1.31					$	1.36					$	1.20					$	3.61					$	3.88

			Quarter ended
($ in thousands)			Sep 30, 2026						Jun 30, 2026						Mar 31, 2026						Dec 31, 2025						Sep 30, 2025
CALCULATION OF PRE-PROVISION NET REVENUE (PPNR)
Net interest income (GAAP)			$	174,606					$	168,716					$	166,147					$	168,174					$	158,286
Noninterest income (GAAP)			13,214						13,478						19,088						25,412						48,624
FDIC special assessment			—						—						—						(652)						—
Acquisition costs			—						—						—						2,548						609
Less net loss on sales of investment securities			—						(2,146)						—						(57)						—
Less net gain (loss) on OREO			(1,402)						(302)						(295)						6,169						7
Less gain on sales of fixed assets			—						687						—						—						—
Less insurance recoveries			—						—						—						—						32,112
Less noninterest expense (GAAP)			114,654						115,739						115,137						114,532						109,790
PPNR (non-GAAP)			$	74,568					$	68,216					$	70,393					$	74,838					$	65,610

21

			At
($ in thousands)			Sep 30, 2026						Jun 30, 2026						Mar 31, 2026						Dec 31, 2025						Sep 30, 2025
ALLOWANCE TO LOANS RATIO EXCLUDING GUARANTEED LOANS
Loans (GAAP)			$	12,344,705					$	11,892,399					$	11,692,780					$	11,800,338					$	11,583,109
Less guaranteed loans			946,578						939,255						935,409						960,132						922,168
Adjusted loans (non-GAAP)			$	11,398,127					$	10,953,144					$	10,757,371					$	10,840,206					$	10,660,941
Allowance for credit losses			$	144,519					$	139,238					$	142,064					$	140,022					$	148,854
Allowance for credit losses/loans (GAAP)			1.17		%				1.17		%				1.21		%				1.19		%				1.29		%
Allowance for credit losses/adjusted loans (non-GAAP)			1.27		%				1.27		%				1.32		%				1.29		%				1.40		%

			Quarter ended
($ in thousands)			Sep 30, 2026						Jun 30, 2026						Mar 31, 2026						Dec 31, 2025						Sep 30, 2025
ADJUSTED EFFECTIVE TAX RATE
Income before income tax expense (GAAP)			$	55,059					$	52,245					$	62,855					$	69,818					$	88,673
Less insurance recoveries1			—						—						—						—						32,112
Adjusted income before income tax expense (non-GAAP)			$	55,059					$	52,245					$	62,855					$	69,818					$	56,561
Income tax expense (GAAP)			$	12,615					$	11,318					$	13,493					$	15,024					$	43,438
Less tax credit recapture and provision for anticipated tax applied to related insurance recoveries1			—						—						—						—						32,112
Adjusted income tax expense (non-GAAP)			$	12,615					$	11,318					$	13,493					$	15,024					$	11,326
Effective tax rate (GAAP)			22.9		%				21.7		%				21.5		%				21.5		%				49.0		%
Adjusted effective tax rate (non-GAAP)			22.9		%				21.7		%				21.5		%				21.5		%				20.0		%
1Represents $32.1 million of anticipated proceeds from a pending insurance claim related to a third quarter 2025 solar tax credit recapture event included in noninterest income, and $24.1 million of tax liability related to the anticipated recapture plus approximately $8.0 million of estimated tax liability related to the anticipated proceeds from the pending insurance claim included in income tax expense.

22

Exhibit 99.2 Enterprise Financial Services Corp 2026 Third Quarter Earnings Webcast

2 Some of the information in this report may contain “forward-looking statements” within the meaning of and intended to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements may include projections based on management’s current expectations and beliefs concerning future developments and their potential effects on Enterprise Financial Services Corp (the “Company” or “EFSC”) including, without limitation, plans, strategies and goals, and statements about the Company’s expectations regarding revenue and asset growth, financial performance and profitability, loan and deposit growth, liquidity, yields and returns, loan diversification and credit management, stockholder value creation and the impact of acquisitions. Forward-looking statements are typically identified by words such as “believe,” “expect,” “anticipate,” “intend,” “outlook,” “estimate,” “forecast,” “project,” “pro forma,” “pipeline” and other similar words and expressions. Forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time. Forward-looking statements speak only as of the date they are made. Because forward-looking statements are subject to assumptions and uncertainties, actual results or future events could differ, possibly materially, from those anticipated in the forward-looking statements and future results could differ materially from historical performance. They are neither statements of historical fact nor guarantees or assurances of future performance. While there is no assurance that any list of risks and uncertainties or risk factors is complete, important factors that could cause actual results to differ materially from those in the forward-looking statements include the following, without limitation: our ability to efficiently integrate acquisitions into our operations, retain the customers of these businesses and grow the acquired operations; our ability to collect insurance proceeds from claims made related to tax recapture events; credit risk; changes in the appraised valuation of real estate securing impaired loans; outcomes of litigation and other contingencies; exposure to general and local economic and market conditions, high unemployment rates, higher inflation and its impacts (including U.S. federal government measures to address higher inflation), impacts of trade and tariff policies, U.S. fiscal debt, budget, debt ceiling and tax matters, and any slowdown in global economic growth; risks associated with rapid increases or decreases in prevailing interest rates; our ability to attract and retain deposits and access to other sources of liquidity; changes in business prospects that could impact goodwill estimates and assumptions; consolidation within the banking industry; competition from banks and other financial institutions; the ability to attract and retain relationship officers and other key personnel; burdens imposed by federal and state regulation; changes in legislative or regulatory requirements, as well as current, pending or future legislation or regulation that could have a negative effect on our revenue and business, including rules and regulations relating to bank products and financial services; changes in accounting policies and practices or accounting standards; natural disasters (including wildfires and earthquakes); terrorist activities, war and geopolitical instability (including in Israel, Iran and Ukraine and the imposition of additional sanctions and export controls in connection therewith), or pandemics, or other health emergencies and their effects on economic and business environments in which we operate, including the related disruption to the financial market and other economic activity, cybersecurity threats and the cost of defending against them, and those factors and risks referenced from time to time in the Company’s filings with the Securities and Exchange Commission (the “SEC”), including in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025, and the Company’s other filings with the SEC. The Company cautions that the preceding list is not exhaustive of all possible risk factors and other factors could also adversely affect the Company’s results. For any forward-looking statements made in this press release or in any documents, EFSC claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Annualized, pro forma, projected and estimated numbers in this document are used for illustrative purposes only, are not forecasts and may not reflect actual results. Readers are cautioned not to place undue reliance on any forward-looking statements. Except to the extent required by applicable law or regulation, EFSC disclaims any obligation to revise or publicly release any revision or update to any of the forward-looking statements included herein to reflect events or circumstances that occur after the date on which such statements were made. Forward-Looking Statements

3 Financial Highlights - 3Q26* Capital • Tangible Common Equity/Tangible Assets** 8.13%, compared to 9.04% • Tangible Book Value Per Common Share** $39.45, compared to $42.30 • CET1 Ratio 11.1%, compared to 11.5% • Quarterly common stock dividend of $0.35 per share in third quarter 2026 ($0.01 increase) • Quarterly preferred stock dividend of $12.50 per share ($0.3125 per depositary share) • Returned $34.0 million to stockholders through common stock repurchases • Net Income $42.4 million, up $1.5 million; EPS $1.14 • Net Interest Income $174.6 million, up $5.9 million; NIM 4.30% • PPNR** $74.6 million, up $6.4 million • ROAA 0.95%, stable compared to linked quarter; PPNR ROAA** 1.67%, compared to 1.58% • ROATCE** 10.74%, compared to 10.39% Earnings *Comparisons noted below are to the linked quarter unless otherwise noted. **A Non-GAAP Measure, Refer to Appendix for Reconciliation.

4 Financial Highlights, continued - 3Q26* Loans & Deposits • Loans $12.3 billion, up $452.3 million • Loan/Deposit Ratio 81.6% • Deposits $15.1 billion, up $624.4 million • Noninterest-bearing Deposits/Total Deposits 33% Asset Quality • Nonperforming Loans/Loans 0.71% • Nonperforming Assets/Assets 1.03% • Allowance Coverage Ratio 1.17%; 1.27% adjusted for guaranteed loans** • Net Charge-Offs $11.0 million *Comparisons noted below are to the linked quarter unless otherwise noted. **A Non-GAAP Measure, Refer to Appendix for Reconciliation.

5 2026 Priorities Improve Asset Quality • Reduce criticized and classified loans • Reduce nonperforming assets • Focused credit underwriting and monitoring Leverage Technology to Enhance Productivity and Efficiency • Expand use of existing technology framework • Evaluate business automation opportunities • Integrate manual procedures into automated workflow processes Organic Loan and Deposit Growth • Disciplined pricing • Expand existing relationships and new client acquisitions • Leverage investment in sales associates

6 Loan Details 3Q26** 2Q26** 3Q25 Qtr Change LTM Change C&I $ 2,707 $ 2,628 $ 2,321 $ 79 $ 386 CRE Investor Owned 3,041 2,903 2,627 138 414 CRE Owner Occupied 1,455 1,422 1,297 33 158 SBA loans* 1,245 1,237 1,258 8 (13) Sponsor Finance* 714 709 774 5 (60) Life Insurance Premium Financing* 1,350 1,250 1,152 100 198 Tax Credits* 750 725 781 25 (31) Residential Real Estate 352 356 359 (4) (7) Construction and Land Development 681 609 784 72 (103) Consumer*** 50 53 230 (3) (180) Total Loans $ 12,345 $ 11,892 $ 11,583 $ 453 $ 762 *Specialty loan category. **Branch acquisition completed in October 2025. ***Certain loans were reclassified from Consumer and into other categories in the fourth quarter of 2025. Prior period amounts were not adjusted. $ In Millions

7 Loans By Region Specialty Lending $4,213 $4,249 $4,404 3Q25 2Q26* 3Q26* $ In Millions Midwest $3,193 $3,277 $3,319 3Q25 2Q26* 3Q26* Southwest $2,005 $2,415 $2,600 3Q25 2Q26* 3Q26* Excludes “Consumer” loans; Region Components: Midwest (St. Louis & Kansas City), Southwest (AZ, NM, Las Vegas, TX), West (Southern California); *Branch acquisition completed in October 2025. West $1,942 $1,898 $1,972 3Q25 2Q26* 3Q26*

8 Deposit Details 3Q26* 2Q26* 3Q25 Qtr Change LTM Change Noninterest-bearing demand accounts $ 5,044 $ 4,910 $ 4,387 $ 134 $ 657 Interest-bearing demand accounts 3,723 3,407 3,302 316 421 Money market accounts 4,140 3,945 3,703 195 437 Savings accounts 525 538 526 (13) (1) Certificates of deposit: Brokered 736 736 762 — (26) Customer 959 967 888 (8) 71 Total Deposits $ 15,127 $ 14,503 $ 13,568 $ 624 $ 1,559 Deposit Verticals (included in total deposits)** $ 4,187 $ 4,064 $ 3,774 $ 123 $ 413 $ In Millions * Branch acquisition completed in October 2025 ** Total deposits excluding Deposit Verticals and brokered CDs increased $501 million from 2Q26 and increased $1.2 billion from 3Q25

9 Deposits By Region Deposit Verticals $3,774 $4,064 $4,187 3Q25 2Q26** 3Q26** $ In Millions Region Components: Midwest (St. Louis & Kansas City), Southwest (AZ, NM, Las Vegas, TX), West (Southern California) *Includes brokered balances **Branch acquisition completed in October 2025. Midwest* $6,392 $6,558 $6,923 3Q25 2Q26** 3Q26** West* $1,340 $1,220 $1,322 3Q25 2Q26** 3Q26** Southwest $2,062 $2,661 $2,695 3Q25 2Q26** 3Q26**

10 Differentiated Deposit Verticals Community Associations 36.0% Property Management 42.5% Legal Industry and Escrow Services 21.5% Community Associations $1.5 billion in deposit accounts specifically designed to serve the needs of community associations. Property Management $1.8 billion in deposits. Specializing in the compliance of Property Management Trust Accounts. Legal Industry and Escrow Services $901 million in deposits. Product lines providing services to independent escrow and non- depository trust companies. • $4.19 billion - 28% of total deposits • $4.32 billion - Average deposits for 3Q26 • $27.5 million - Related deposit costs in noninterest expense, resulting in an average deposit vertical cost of 2.52% in 3Q26 • $132.6 million - Average Deposits per Branch for FDIC Insured Banks with a deposit portfolio between $5-20B* ◦ 32 - The national deposit vertical portfolio is the equivalent of 32 traditional bank branches *Data Source: Deposit data as of June 30th, 2026, per the FDIC Summary of Deposits. 3Q25 4Q25 1Q26 2Q26 3Q26 Community Associations Property Management Legal Industry and Escrow Services $— $500 $1,000 $1,500 $2,000 $ In Millions

11 Core Funding Mix Commercial Business Banking Consumer $ In Millions Note: Brokered deposits were $980.5 million at 3Q26; 3.55% cost of funds Deposit Verticals 3Q26 Total Portfolio Average Account Size & Cost of Funds COMMERCIAL BUSINESS BANKING CONSUMER DEPOSIT VERTICALS Average account size ($ in thousands) 3Q26 $ 374 $ 79 $ 23 $ 101 2Q26 $ 341 $ 78 $ 23 $ 99 3Q25 $ 324 $ 82 $ 23 $ 105 Cost of funds 3Q26 2.17 % 1.17 % 1.46 % 0.57 % 2Q26 2.00 % 1.05 % 1.38 % 0.58 % 3Q25 2.19 % 1.36 % 1.49 % 0.81 % • ~80% of commercial deposits utilize Treasury Management services • ~90% of checking and savings accounts utilize online banking services • ~60% of commercial deposits have a lending relationship Overview 25% 39% 32% 41% 32% 18% 6% 6% 29% 30% 16% 19% 68% 6% 24% $5,375 $4,187$2,862$1,721 DDA IB DDA MMA SAV CD 1 yr or less CD > 1 yr

12 Earnings Per Share Trend - 3Q26 $1.09 $0.13 $(0.01) $(0.08) $0.02 $(0.02) $0.01 $1.14 2Q26 Net Interest Income Noninterest Income Provision for Credit Losses Noninterest Expense Change in ETR Change in Shares 3Q26 Change in Diluted EPS

13 $158.3 $168.2 $166.1 $168.7 $174.6 4.23% 4.26% 4.28% 4.30% 4.30%4.30% 3.90% 3.64% 3.63% 3.67% Net Interest Income Net Interest Margin Avg Fed Funds Rate 3Q25 4Q25 1Q26 2Q26 3Q26 Net Interest Income Trend $ In Millions Net Interest Income 3Q25 4Q25 1Q26 2Q26 3Q26 Net Interest Income - FTE $ 161.3 $ 171.7 $ 169.5 $ 172.1 $ 177.9 Purchase Accounting Amortization/(Accretion) 0.6 (0.2) (0.5) (0.7) 0.2 Adjusted Net Interest Income - FTE (Excluding Purchase Accounting) $ 161.9 $ 171.5 $ 169.0 $ 171.4 $ 178.1 Net Interest Margin 4.23 % 4.26 % 4.28 % 4.30 % 4.30 % Purchase Accounting Amortization/(Accretion) 0.02 % 0.00 % (0.01) % (0.02) % 0.00 % Adjusted Net Interest Income - FTE (Excluding Purchase Accounting) 4.25 % 4.26 % 4.27 % 4.28 % 4.30 %

14 Net Interest Margin 6.64% 6.51% 6.38% 6.43% 6.42% 3.93% 4.02% 4.13% 4.21% 4.28% 5.99% 5.86% 5.77% 5.82% 5.84% Earning asset yield Securities yield Loan yield 3Q25 4Q25 1Q26 2Q26 3Q26 2.67% 2.46% 2.31% 2.30% 2.32% 1.80% 1.64% 1.52% 1.53% 1.54% 2.77% 2.52% 2.37% 2.39% 2.42% Interest-bearing deposit rate Total cost of deposits Interest-bearing liabilities 3Q25 4Q25 1Q26 2Q26 3Q26 Components of Interest-bearing LiabilitiesComponents of Interest-earning Assets 4.30% 0.01% 0.01% (0.01)% (0.01)% 4.30% 2Q26 Short Term Funds Securities Borrowing Mix Deposits 3Q26 Margin Bridge

15 14 70 15 46 36 3Q25 4Q25 1Q26 2Q26 3Q26 $174 $(75) $(108) $200 $452 $292 45.0% 43.9% 44.7% 46.7% 46.6% Organic Loans Acquired Loans Avg Line Draw % 3Q25 4Q25 1Q26 2Q26 3Q26 3Q25 2Q26 3Q26 NPLs/Loans 1.10 % 0.64 % 0.71 % NPAs/Assets 0.83 % 0.92 % 1.03 % ACL/NPLs 116.4 % 182.9 % 165.6 % ACL/Loans** 1.40 % 1.27 % 1.27 % Annualized Net Charge-Offs to Average Loans Provision for Credit Losses* $8.4 $9.2 $7.2 $14.2 $18.1 3Q25 4Q25 1Q26 2Q26 3Q26 $ In Millions bps bps bps bps bps $ In Millions Loan Growth and Average Line of Credit Utilization *Includes credit loss expense on loans, investments and unfunded commitments. **Excludes guaranteed loans. A Non-GAAP Measure, Refer to Appendix for Reconciliation. Credit Trends

16 $139.2 $16.3 $(11.0) $144.5 ACL 2Q26 Portfolio Changes Net Charge-offs ACL 3Q26 Allowance for Credit Losses on Loans $ In Millions • New loans and changes in composition of existing loans • Changes in risk ratings, past due status and reserves on individually evaluated loans • Changes in macroeconomic and qualitative factors $ In Millions 3Q26 Loans ACL ACL as a % of Loans Commercial and industrial $ 5,468 $ 82 1.50 % Commercial real estate 5,725 41 0.72 % Construction real estate 745 13 1.74 % Residential real estate 357 7 1.96 % Consumer 50 2 4.00 % Total $ 12,345 $ 145 1.17 % Reserves on sponsor finance, agricultural, and investor office CRE loans, which are included in the categories above, represented $31.6 million, $2.6 million, and $6.0 million, respectively. Total ACL as a percentage of loans excluding $946.6 million of government guaranteed loans was 1.27%*. Key Assumptions: • Reasonable and supportable forecast period is one year with a one year reversion period. • Forecast considers a weighted average of baseline, upside and downside scenarios. • Primary macroeconomic factors: ◦ Percentage change in GDP ◦ Unemployment ◦ Percentage change in Retail Sales ◦ Percentage change in CRE Index *A Non-GAAP Measure, Refer to Appendix for Reconciliation.

17 Noninterest Income Trend $48.6 $25.4 $19.1 $13.5 $13.2 $6.8 $11.9 $8.8 $4.4 $7.3 $32.1 $(0.3) $3.2 $(0.2) $(1.7) $(5.0) $4.9 $5.1 $5.3 $5.5 $5.4 $2.5 $2.6 $2.5 $2.5 $2.6 $2.6 $2.6 $2.7 $2.8 $2.9 23.5% 13.1% 10.3% 7.4% 7.0% Other income Recaptured tax credit insurance proceeds* Tax credit income (loss) Deposit service charges Card services revenue Wealth management revenue Noninterest income/Total income 3Q25 4Q25 1Q26 2Q26 3Q26 $6.8 $11.9 $8.8 $4.4 $7.3 $1.8 $2.2 $1.8 $3.1 $5.6 $0.6 $0.5 $0.4 $0.5 $0.7 $2.1 $1.9 $2.5 $2.4 $1.8 $0.3 $0.1 $0.1 $0.1 $0.3 $0.9 $1.1 $0.4 $0.5 $0.6 $0.2 $1.8 $0.3 $0.1$6.2 $(0.3) $(0.3) $(1.4) $1.1 $1.4 $(0.1) $(2.1) Miscellaneous income Servicing fees BOLI Swap fees CDE Private equity fund distribution Net gain (loss) on OREO Gain on SBA loan sales Net loss on sales of investment securities 3Q25 4Q25 1Q26 2Q26 3Q26 $ In Millions Noninterest Income Other Noninterest Income Detail *Represents anticipated proceeds from a pending insurance claim related to a third quarter 2025 solar tax credit recapture event.

18 Noninterest Expense Trend Noninterest Expense $ In Millions $27.5 $28.6 $27.4 $28.9 $30.7 $0.6 $2.5 $27.2 $27.5 $26.0 $27.8 $27.5 $4.9 $5.8 $5.9 $5.9 $5.9 $49.6 $50.1 $55.8 $53.1 $50.6 61.0% 58.3% 60.2% 61.1% 58.9% $109.8 $114.5 $115.1 $115.7 $114.7 Other expense Acquisition costs Deposit costs Occupancy Employee compensation and benefits Core efficiency ratio* 3Q25 4Q25 1Q26 2Q26 3Q26 $27.5 $28.6 $27.4 $28.9 $30.7 $12.6 $12.8 $11.3 $11.7 $12.3 $5.0 $5.2 $5.6 $6.0 $5.7 $2.2 $2.3 $1.6 $2.0 $1.7 $3.6 $3.2 $3.5 $4.0 $3.8 $3.4 $3.7 $4.0 $3.9 $5.9 $0.7 $1.4 $1.4 $1.3 $1.3 Miscellaneous expense Data processing Professional fees FDIC and other insurance Loan, legal expenses Amortization expense 3Q25 4Q25 1Q26 2Q26 3Q26 *A Non-GAAP Measure, Refer to Appendix for Reconciliation. Other Noninterest Expense Detail

19 Capital Tangible Common Equity/Tangible Assets 9.60% 9.07% 9.01% 9.04% 8.13% Tangible Common Equity/Tangible Assets* 3Q25 4Q25 1Q26 2Q26 3Q26 *A Non-GAAP Measure, Refer to Appendix for Reconciliation. **Preliminary regulatory capital ratios. Regulatory Capital 10.0% 14.4% 13.9% 13.9% 15.0% 14.4% 6.5% 12.0% 11.6% 11.7% 11.5% 11.1% CET1 Tier 1 Total Risk Based Capital Minimum "Well Capitalized" Ratio 3Q25 4Q25 1Q26 2Q26 3Q26 8.0% 13.3% 12.8% 12.9% 12.7% EFSC Capital Strategy: Low Cost - Highly Flexible High Capital Retention Rate – Strong earnings profile – Sustainable dividend profile Supporting Robust Asset Growth – Organic loan and deposit growth – High quality M&A to enhance commercial franchise and geographic diversification Maintain High Quality Capital Stack – Minimize WACC over time (preferred, sub debt, etc.) – Optimize capital levels CET1 ~10%, Tier 1 ~12%, and Total Capital ~14% Maintain 8-9% TCE – Common stock repurchases – 525,767 shares repurchased at an average price of $64.74 during 3Q26 – M&A deal structures – Drives ROATCE above peer levels TBV and Dividends per Share $41.58 $41.37 $41.38 $42.30 $39.45 $0.31 $0.32 $0.33 $0.34 $0.35 TBV/Share* Dividends per Share 3Q25 4Q25 1Q26 2Q26 3Q26 12.2% **

Appendix

21 Investment Portfolio Breakout AFS & HTM Securities Obligations of U.S. Government- sponsored enterprises 4% Obligations of states and political subdivisions 38% Agency mortgage- backed securities 52% Corporate debt securities 3% U.S. Treasury bills 3% TOTAL $3.8 billion • Effective duration of 5.2 years balances the short 3-year duration of the loan portfolio • Cash flows next 12 months of approximately $675.6 million • 4.28% tax-equivalent yield • Municipal bond portfolio rated A or better • Laddered maturity and repayment structure for consistent cash flows Overview Total AFS (Fair Value) Total HTM (Fair Value) AFS Securities (Net Unrealized Loss) HTM Securities (Net Unrealized Loss) 3Q25 4Q25 1Q26 2Q26 3Q26 $— $1,000 $2,000 $3,000 $(400) $(200) $— $ In Millions $226.6 $575.8 $206.2 $437.5 $153.2 4.99% 4.61% 4.51% 5.03% 4.74% Principal Cost Yield (TEQ) 3Q25 4Q25 1Q26 2Q26 3Q26 Investment Purchase Yield $ In Millions Investment Portfolio

22 EFSC Borrowing Capacity $6.9 $6.6 $6.6 $1.5 $1.2 $1.5 $3.1 $3.0 $2.9 $0.1 $0.1 $0.1 $2.2 $2.3 $2.1 47% 46% 44% FHLB borrowing capacity FRB borrowing capacity Fed Funds lines Unpledged securities Borrowing capacity/Deposits 1Q26 2Q26 3Q26 $ In Billions End of Period and Average Loans to Deposits 85% 81% 81% 82% 82%84% 81% 81% 81% 81% End of period Loans/Deposits Avg Loans/Avg Deposits 3Q25 4Q25 1Q26 2Q26 3Q26 • $1.4 billion available FHLB capacity • $2.9 billion available FRB capacity • $135.0 million in eight federal funds lines • $2.1 billion in unpledged investment securities • $487.9 million cash • $25.0 million available line of credit • Portfolio of saleable SBA loans • Investment portfolio/total assets of 21% • FHLB maximum credit capacity is 45% of assets $0.7 $0.5 $0.5 $0.4 $0.4 $0.7 $1.2 $1.7 $2.1 $2.5 Annual Cash Flows Cumulative Cash Flows 2026 2027 2028 2029 2030 Investment Portfolio Cash Flows* $ In Billions Strong Liquidity Profile *Trailing 12 months ending September 30 of each year Liquidity

23 Office CRE (Non-owner Occupied) Total $644.9 million Midwest 35.7% Southwest 37.2% West 23.3% Specialty 3.8% Office CRE Loans by Location Real Estate/ Rental/Leasing 88.6% Health Care and Social Assistance 3.0% Other 8.4% Office CRE Loans by Industry Type Size Average Risk Rating Number of Loans Balance Average Balance > $10 Million 5.37 19 $ 285.1 $ 15.0 $5-10 Million 5.36 14 93.6 6.7 $2-5 Million 5.47 51 165.5 3.2 < $2 Million 5.34 185 100.7 0.5 Total 5.37 269 $ 644.9 $ 2.4 Office CRE Loans by Size $ In Millions • Average loan-to-origination value 52% • 71% of loans have recourse to owners • Average debt-service coverage ratio (DSCR) of 1.52x • Average market occupancy of 88%; average rents of $24 psf • 42% Class A, 54% Class B, 4% Class C • $51.8 million unfunded commitments 23

24 Use of Non-GAAP Financial Measures The Company’s accounting and reporting policies conform to generally accepted accounting principles in the United States (“GAAP”) and the prevailing practices in the banking industry. However, the Company provides other financial measures, such as tangible common equity, PPNR, ROATCE, allowance coverage ratio adjusted for guaranteed loans, PPNR return on average assets (“PPNR ROAA”), core efficiency ratio, tangible common equity to tangible assets, and tangible book value per common share, in this release that are considered “non-GAAP financial measures.” Generally, a non-GAAP financial measure is a numerical measure of a company’s financial performance, financial position, or cash flows that exclude (or include) amounts that are included in (or excluded from) the most directly comparable measure calculated and presented in accordance with GAAP. The Company considers its tangible common equity, PPNR, ROATCE, allowance coverage ratio adjusted for guaranteed loans, PPNR return on average assets (“PPNR ROAA”), core efficiency ratio, tangible common equity to tangible assets, and tangible book value per common share, collectively “core performance measures,” presented in this earnings release and the included tables as important measures of financial performance, even though they are non-GAAP measures, as they provide supplemental information by which to evaluate the impact of certain non-comparable items, and the Company’s operating performance on an ongoing basis. Core performance measures exclude certain other income and expense items, such as the FDIC special assessment, acquisition costs, accrued insurance proceeds anticipated to be received as a result of recaptured tax credits, the net gain or loss on sales of fixed assets, the net gain or loss on other real estate owned (“OREO”), and the net gain or loss on sales of investment securities, that the Company believes to be not indicative of or useful to measure the Company’s operating performance on an ongoing basis. The attached tables contain a reconciliation of these core performance measures to the GAAP measures. The Company believes that the tangible common equity ratio provides useful information to investors about the Company’s capital strength even though it is considered to be a non-GAAP financial measure and is not part of the regulatory capital requirements to which the Company is subject. The Company believes these non-GAAP measures and ratios, when taken together with the corresponding GAAP measures and ratios, provide meaningful supplemental information regarding the Company’s performance and capital strength. The Company’s management uses, and believes that investors benefit from referring to, these non-GAAP measures and ratios in assessing the Company’s operating results and related trends and when forecasting future periods. However, these non-GAAP measures and ratios should be considered in addition to, and not as a substitute for or preferable to, ratios prepared in accordance with GAAP. In the attached tables, the Company has provided a reconciliation of, where applicable, the most comparable GAAP financial measures and ratios to the non-GAAP financial measures and ratios, or a reconciliation of the non-GAAP calculation of the financial measures for the periods indicated.

25 Reconciliation of Non-GAAP Financial Measures At (in thousands, except per share data) September 30, 2026 June 30, 2026 March 31, 2026 December 31, 2025 September 30, 2025 STOCKHOLDERS’ EQUITY TO TANGIBLE COMMON EQUITY, TOTAL ASSETS TO TANGIBLE ASSETS, TANGIBLE BOOK VALUE PER COMMON SHARE, AND TANGIBLE COMMON EQUITY TO TANGIBLE ASSETS Stockholders’ equity (GAAP) $ 1,917,326 $ 2,040,846 $ 2,022,204 $ 2,039,386 $ 1,982,332 Less preferred stock 71,988 71,988 71,988 71,988 71,988 Less goodwill 416,968 416,968 416,968 416,968 365,164 Less intangible assets 16,948 18,228 19,525 21,175 6,140 Tangible common equity (non-GAAP) $ 1,411,422 $ 1,533,662 $ 1,513,723 $ 1,529,255 $ 1,539,040 Common shares outstanding 35,775 36,258 36,581 36,965 37,011 Tangible book value per common share (non-GAAP) $ 39.45 $ 42.30 $ 41.38 $ 41.37 $ 41.58 Total assets (GAAP) $ 17,792,510 $ 17,399,009 $ 17,227,828 $ 17,300,884 $ 16,402,405 Less goodwill 416,968 416,968 416,968 416,968 365,164 Less intangible assets 16,948 18,228 19,525 21,175 6,140 Tangible assets (non-GAAP) $ 17,358,594 $ 16,963,813 $ 16,791,335 $ 16,862,741 $ 16,031,101 Tangible common equity to tangible assets (non-GAAP) 8.13 % 9.04 % 9.01 % 9.07 % 9.60 % Quarter ended ($ in thousands) September 30, 2026 June 30, 2026 PRE-PROVISION NET REVENUE (PPNR) AND PPNR RETURN ON AVERAGE ASSETS (PPNR ROAA) Net interest income (GAAP) $ 174,606 $ 168,716 Noninterest income (GAAP) 13,214 13,478 Less gain on sales of fixed assets — 687 Less net loss on sales of investment securities — (2,146) Less net loss on OREO (1,402) (302) Less noninterest expense (GAAP) 114,654 115,739 PPNR (non-GAAP) $ 74,568 $ 68,216 Average assets $ 17,696,079 $ 17,307,716 PPNR ROAA (non-GAAP) 1.67 % 1.58 %

26 Reconciliation of Non-GAAP Financial Measures Quarter ended ($ in thousands) September 30, 2026 June 30, 2026 RETURN ON AVERAGE TANGIBLE COMMON EQUITY (ROATCE) Average stockholder’s equity (GAAP) $ 2,040,244 $ 2,052,233 Less average preferred stock 71,988 71,988 Less average goodwill 416,968 416,968 Less average intangible assets 17,568 18,860 Average tangible common equity (non-GAAP) $ 1,533,720 $ 1,544,417 Net income available to common stockholders (GAAP) $ 41,506 $ 39,990 ROATCE (non-GAAP) 10.74 % 10.39 % At ($ in thousands) September 30, 2026 June 30, 2026 September 30, 2025 ALLOWANCE COVERAGE RATIO ADJUSTED FOR GUARANTEED LOANS Loans (GAAP) $ 12,344,705 $ 11,892,399 $ 11,583,109 Less guaranteed loans 946,578 939,255 922,168 Adjusted loans (non-GAAP) $ 11,398,127 $ 10,953,144 $ 10,660,941 Allowance for credit losses $ 144,519 $ 139,238 $ 148,854 Allowance for credit losses/loans (GAAP) 1.17 % 1.17 % 1.29 % Allowance for credit losses/adjusted loans (non-GAAP) 1.27 % 1.27 % 1.40 %

27 Reconciliation of Non-GAAP Financial Measures Quarter ended ($ in thousands) September 30, 2026 June 30, 2026 March 31, 2026 December 31, 2025 September 30, 2025 CORE EFFICIENCY RATIO Net interest income (GAAP) $ 174,606 $ 168,716 $ 166,147 $ 168,174 $ 158,286 Tax-equivalent adjustment 3,306 3,418 3,320 3,477 3,045 Noninterest income (GAAP) 13,214 13,478 19,088 25,412 48,624 Less insurance recoveries1 — — — — 32,112 Less gain on sales of fixed assets — 687 — — — Less net loss on sales of investment securities — (2,146) — (57) — Less net gain (loss) on OREO (1,402) (302) (295) 6,169 7 Core revenue (non-GAAP) $ 192,528 $ 187,373 $ 188,850 $ 190,951 $ 177,836 Noninterest expense (GAAP) $ 114,654 $ 115,739 $ 115,137 $ 114,532 $ 109,790 Less FDIC special assessment — — — (652) — Less amortization on intangibles 1,279 1,297 1,400 1,380 736 Less acquisition costs — — — 2,548 609 Core revenue (non-GAAP) $ 113,375 $ 114,442 $ 113,737 $ 111,256 $ 108,445 Core efficiency ratio (non-GAAP) 58.9 % 61.1 % 60.2 % 58.3 % 61.0 % 1Represents anticipated proceeds from a pending insurance claim related to a third quarter 2025 solar tax credit recapture event.

Filing Exhibits & Attachments

6 documents

Press Releases

• EX-991 EARNINGS RELEASE 1.3 MB
• EX-99.2 WEBCAST SLIDES 37.6 KB

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA DOCUMENT 2.7 KB
• EX-101 XBRL TAXONOMY EXTENSION DEFINITION LINKBASE DOCUMENT 15.0 KB
• EX-101 XBRL TAXONOMY EXTENSION LABEL LINKBASE DOCUMENT 26.0 KB
• EX-101 XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE DOCUMENT 15.2 KB