First Citizens authorizes up to $1.2B 2027 buyback

Q: How much did FCNCA earn in Q3 2026?

FCNCA reported $606 million in net income for the third quarter of 2026. Net income available to common stockholders was $577 million, or $51.23 per share; adjusted (non-GAAP) net income was $652 million and adjusted EPS was $55.37.

Q: How large is FCNCA's new 2027 share repurchase plan?

The 2027 SRP authorizes up to $1.2 billion of Class A common stock repurchases during 2027. BancShares may make purchases on the open market or in privately negotiated transactions, including through a Rule 10b5-1 plan; the authorization does not require a minimum or particular number of repurchases.

Q: What did FCNCA project for fourth-quarter and full-year 2026?

Management projected loans and leases of $158 billion to $161 billion and deposits of $189 billion to $192 billion for both periods. Net interest income was projected at $1.70 billion to $1.77 billion for the fourth quarter and $6.68 billion to $6.75 billion for full-year 2026.

Q: How much of FCNCA's Purchase Money Note did it repay?

BancShares repaid $8.0 billion of principal during the third quarter and an additional $1.5 billion in October. Management forecast quarterly prepayments in the $3.5 billion to $4 billion range and expected the full balance to be repaid by year end 2027.

Deposits rose 6.8% from June while quarterly net income fell 10.0%; year-over-year net income increased 6.6%.

Filing Impact

(High)

Filing Sentiment

(Neutral)How Sentiment works

Sentiment and the balance of points

Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.

How Sentiment works How the balance works

Form Type

8-K

Rhea-AI Filing Summary

First Citizens BancShares (FCNCA) reported third-quarter 2026 net income of $606 million and authorized up to $1.2 billion of Class A common stock repurchases in 2027. GAAP net income fell from $672 million in the second quarter but rose from $568 million a year earlier. Net income available to common stockholders was $577 million, or $51.23 per share; adjusted net income was $652 million and adjusted EPS was $55.37. Net interest income was $1.70 billion, and net interest margin was 3.07%.

As of September 30, 2026, loans and leases were $157.19 billion, up 4.1% from June 30, 2026, and deposits were $185.26 billion, up 6.8%. First-Citizens Bank completed its acquisition of 138 BMO branches on September 4, 2026, assuming approximately $4.9 billion in deposits and acquiring approximately $650 million in loans. BancShares repurchased 278,828 Class A shares for $600 million in the quarter and repaid $8.0 billion of Purchase Money Note principal. The 2027 authorization requires no minimum repurchases; repurchases may be suspended or discontinued at any time, subject to any Rule 10b5-1 plan in effect.

2 points · 0 major

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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 works How Sentiment works

0 major · 1 point

How the balance works

Positive

Moderate pointNet income increased 6.6% year over year to $606 million.
Moderate pointBMO branch acquisition added 138 branches and approximately $4.9 billion in deposits.

Negative

Moderate pointQuarterly GAAP net income fell 10.0% sequentially to $606 million.

Filing Explained

At September 30, the 2025 plan still had $711 million available and the separate 2027 plan retained its full $1.2 billion capacity; these are separate authorizations, not promised purchases, and neither sets a minimum.

8-K Event Classification

4 items: 2.02, 7.01, 8.01, 9.01

4 items

Item 2.02 Results of Operations and Financial Condition Financial

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

Item 7.01 Regulation FD Disclosure Disclosure

Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.

Item 8.01 Other Events Other

Voluntary disclosure of events the company deems important to shareholders but not covered by other items.

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 (GAAP): $606 million Adjusted net income (non-GAAP): $652 million Net interest income: $1.70 billion +5 more

8 metrics

Net income (GAAP) $606 million Third quarter 2026; $672 million in the second quarter and $568 million in the third quarter of 2025

Adjusted net income (non-GAAP) $652 million Third quarter 2026; compared with $691 million in the second quarter

Net interest income $1.70 billion Third quarter 2026

Net interest margin 3.07% Third quarter 2026

Loans and leases $157.19 billion As of September 30, 2026; up 4.1% from June 30, 2026

Deposits $185.26 billion As of September 30, 2026; up 6.8% from June 30, 2026

Class A common stock repurchases $600 million Third quarter 2026; 278,828 shares repurchased

2027 SRP authorization $1.2 billion Up to this aggregate amount for Class A common stock repurchases during 2027

Key Terms

Purchase Accounting Accretion, Net interest margin, Nonaccrual loans, Common Equity Tier 1, +1 more

5 terms

Purchase Accounting Accretion financial

"PAA – Purchase Accounting Accretion or Amortization"

Purchase accounting accretion describes how an acquisition’s required accounting adjustments change a company’s reported earnings per share after the deal. When the purchase price is reallocated to the acquired assets and liabilities, certain items (like tax effects, depreciation or amortization) are recorded differently, and those changes can make reported earnings per share rise over time — showing whether the transaction boosts or dilutes per-share results. Investors use it like checking whether two merged household budgets will increase the amount left over each month after relabeling expenses.

Net interest margin financial

"Net interest margin (3)"

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.

Nonaccrual loans financial

"Nonaccrual loans were $1.37 billion"

Nonaccrual loans are loans a lender has stopped counting toward interest income because the borrower is overdue or unlikely to pay; the lender only records cash payments received and may set aside extra funds to cover potential losses. For investors, a rising number or amount of nonaccrual loans signals weaker credit quality, lower future interest revenue and larger potential write-downs — similar to pausing expected subscription income when many customers stop paying.

Common Equity Tier 1 financial

"Common equity Tier 1 risk-based capital"

Common Equity Tier 1 is the highest-quality capital a bank holds—mainly common shares and retained profits—that acts as the primary cushion against losses. Investors use the CET1 level and ratio to judge a bank’s financial strength and regulatory standing: a bigger cushion means the bank is better able to absorb shocks, sustain payouts and borrow cheaply, much like an emergency fund for a household.

Allowance for loan and lease losses financial

"Allowance for loan and lease losses totaled $1.44 billion"

A reserve banks and finance companies set aside to cover loans and leases they expect may not be repaid, recorded as a reduction to their loan assets. Think of it as a rainy-day fund for bad loans: a larger allowance signals the lender is preparing for more losses, which can reduce reported profits and weaken capital cushions, so investors watch it to judge credit risk, earnings quality, and the institution’s financial health.

Earnings Snapshot

Net income (GAAP): $606 million · Guidance included

Third quarter 2026

Net income (GAAP) $606 million -10.0% sequentially; +6.6% year over year

Net income available to common stockholders $577 million -10.0% sequentially; +4.1% year over year

Adjusted net income (non-GAAP) $652 million -5.6% sequentially; +11.0% year over year

Net interest margin 3.07% -3 basis points sequentially; -19 basis points year over year

Guidance

Management projected fourth-quarter 2026 loans and leases of $158 billion to $161 billion and deposits of $189 billion to $192 billion; full-year 2026 projections were the same ranges. Projected net interest income was $1.70 billion to $1.77 billion for the fourth quarter and $6.68 billion to $6.75 billion for full-year 2026.

FAQ

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

How much did FCNCA earn in Q3 2026?

FCNCA reported $606 million in net income for the third quarter of 2026. Net income available to common stockholders was $577 million, or $51.23 per share; adjusted (non-GAAP) net income was $652 million and adjusted EPS was $55.37.

What did FCNCA project for fourth-quarter and full-year 2026?

Management projected loans and leases of $158 billion to $161 billion and deposits of $189 billion to $192 billion for both periods. Net interest income was projected at $1.70 billion to $1.77 billion for the fourth quarter and $6.68 billion to $6.75 billion for full-year 2026.

How much of FCNCA's Purchase Money Note did it repay?

BancShares repaid $8.0 billion of principal during the third quarter and an additional $1.5 billion in October. Management forecast quarterly prepayments in the $3.5 billion to $4 billion range and expected the full balance to be repaid by year end 2027.

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

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Available on EDGAR 10/23/2026 - 06:32 AM EDT Accepted by SEC EDGAR 10/23/2026 - 06:31 AM EDT

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 23, 2026

_________________________________________________________________

First Citizens BancShares, Inc.

(Exact name of registrant as specified in its charter)


Delaware	001-16715	56-1528994
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)


4300 Six Forks Road	Raleigh	North Carolina	27609
(Address of principal executive offices)			(Zip Code)

Registrant’s telephone number, including area code: (919) 716-7000

________________________________________________________________________________

(Former name or former address, if changed since last report)


Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐			Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐			Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐			Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities Registered Pursuant to Section 12(b) of the Securities Exchange Act of 1934:


Title of each class	Trading Symbol	Name of each exchange on which registered
Class A Common Stock, Par Value $1	FCNCA	Nasdaq Global Select Market
Depositary Shares, Each Representing a 1/40th Interest in a Share of 5.375% Non-Cumulative Perpetual Preferred Stock, Series A	FCNCP	Nasdaq Global Select Market
5.625% Non-Cumulative Perpetual Preferred Stock, Series C	FCNCO	Nasdaq Global Select Market
Depositary Shares, Each Representing 1/40th Interest in a Share of 6.625% Non-Cumulative Perpetual Preferred Stock, Series E	FCNCN	Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02. Results of Operations and Financial Condition.

On October 23, 2026, First Citizens BancShares, Inc. (“BancShares”) announced its results of operations for the quarter ended September 30, 2026. Copies of BancShares’ press release and financial supplement containing this information are included with this Current Report on Form 8-K (this “Report”) as Exhibit 99.1 and Exhibit 99.3, respectively, and are incorporated into this Item 2.02 by reference. The press release and financial supplement are available on BancShares’ internet site at http://www.ir.firstcitizens.com.

Item 7.01. Regulation FD Disclosure.

As previously announced, BancShares will host a conference call at 9 a.m. Eastern time on Friday, October 23, 2026, to discuss its financial results for the quarter ended September 30, 2026. The slides that will be made available in connection with the presentation are included with this Report as Exhibit 99.2 hereto and incorporated into this Item 7.01 by reference.

In accordance with General Instruction B.2 of Form 8-K, the information presented herein pursuant to Item 2.02, “Results of Operations and Financial Condition” and Item 7.01, “Regulation FD Disclosure,” including Exhibits 99.1, 99.2 and 99.3, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liability of that section, nor shall the information be deemed incorporated by reference in any filing under the Exchange Act or the Securities Act of 1933, as amended, regardless of any general incorporation language in such filing, except as expressly set forth by specific reference in such filing.

Item 8.01. Other Events.

On October 23, 2026, BancShares announced that its Board of Directors (the “Board”) had authorized a share repurchase program (the “2027 SRP”), which will allow BancShares to repurchase shares of its Class A common stock in an aggregate amount up to $1.2 billion in 2027.

Under the 2027 SRP, shares of BancShares’ Class A common stock may be purchased from time to time on the open market or in privately negotiated transactions, including through a Rule 10b5-1 plan, but the Board’s action does not obligate BancShares to repurchase any minimum or particular number of shares, and repurchases may be suspended or discontinued at any time (subject to the terms of any Rule 10b5-1 plan in effect) without prior notice.

The authorization to repurchase Class A common stock will be utilized at management’s discretion. The actual timing and amount of Class A common stock that may be repurchased under the 2027 SRP will depend on a number of factors, including the terms of any Rule 10b5-1 plan then in effect, price, general business and market conditions, regulatory requirements, and alternative investment opportunities or capital needs. Information regarding share repurchases will be available in BancShares’ periodic reports on Form 10-Q and Form 10-K filed with the Securities and Exchange Commission as required by the applicable rules of the Exchange Act.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits. The following exhibits accompany this Report.


Exhibit No.						Description

99.1						Earnings Release Third Quarter 2026

99.2						Investor Presentation Third Quarter 2026

99.3						Financial Supplement Third Quarter 2026

104						Cover Page Interactive Data File (embedded within the Inline XBRL document)

Disclosures About Forward-Looking Statements

This Report contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 regarding the financial condition, results of operations, business plans, asset quality, future performance, and other strategic goals of BancShares. Words such as “anticipates,” “believes,” “estimates,” “expects,” “predicts,” “forecasts,” “intends,” “plans,” “projects,” “targets,” “designed,” “could,” “may,” “should,” “will,” “potential,” “continue,” “aims” or other similar words and expressions are intended to identify these forward-looking statements. These forward-looking statements are based on BancShares’ current expectations and assumptions regarding BancShares’ business, the economy, and other future conditions.

Because forward-looking statements relate to future results and occurrences, they are subject to inherent risks, uncertainties, changes in circumstances and other factors that are difficult to predict. Many possible events or factors could affect BancShares’ future financial results and performance and could cause actual results, performance or achievements of BancShares to differ materially from any anticipated results expressed or implied by such forward-looking statements. Such risks and uncertainties include, among others, general competitive, economic (including the imposition of tariffs, retaliatory tariff measures, trade barriers on trading partners, and supply chain disruptions), political (including impacts of any U.S. government shutdown), geopolitical events (including conflicts or developments in Ukraine, the Middle East and Latin America), natural disasters and market conditions, including changes in competitive pressures among financial institutions and the impacts related to or resulting from previous bank failures, the risks and impacts of future bank failures and other volatility in the banking industry, public perceptions of our business practices, including our deposit pricing and acquisition activity, the financial success or changing conditions or strategies of BancShares’ vendors or customers, including changes in demand for deposits, loans and other financial services, fluctuations in interest rates, changes in the quality or composition of BancShares’ loan or investment portfolio, actions of government regulators, including interest rate decisions by the Board of Governors of the Federal Reserve System (the “Federal Reserve”), changes to estimates of future costs and benefits of actions taken by BancShares, BancShares’ ability to maintain adequate sources of funding and liquidity, the timing and amount of any prepayments of the Purchase Money Note, which depend on deposit growth, market conditions and the availability and cost of alternative funding, the potential impact of decisions by the Federal Reserve on BancShares’ capital plans, adverse developments with respect to U.S. or global economic conditions, including significant turbulence in the capital or financial markets, the impact of any sustained or elevated inflationary environment, the impact of any cyberattack, information or security breach, the effect of technological change, including artificial intelligence and digital assets, the impact of implementation and compliance with current or proposed laws, regulations and regulatory interpretations, including potential increased regulatory requirements, limitations, and costs, such as FDIC special assessments, increases to FDIC deposit insurance premiums, changes in regulatory capital requirements, or limitations on credit card interest rates, along with the risk that such laws, regulations and regulatory interpretations may change, the availability of capital and personnel, changes or enhancements BancShares implements with respect to risk management, technology, personnel, financial service offerings, or other areas, and the risks associated with BancShares’ previously completed acquisition transactions, including the integration of, and retention of deposits and clients in connection with, the 138 branches acquired from BMO Bank N.A. in September 2026, or any future transactions.

BancShares’ Share Repurchase Plan announced in July 2025 (“2025 SRP”) allows BancShares to repurchase shares of its Class A common stock through 2026, and the 2027 SRP allows BancShares to repurchase shares of its Class A common stock in 2027. BancShares is not obligated under the 2025 SRP or the 2027 SRP to repurchase any minimum or particular number of shares, and repurchases may be suspended or discontinued at any time (subject to the terms of any Rule 10b5-1 plan in effect) without prior notice. The authorization to repurchase Class A common stock will be utilized at management’s discretion. The actual timing and amount of Class A common stock that may be repurchased under the 2025 SRP or the 2027 SRP will depend on a number of factors, including the terms of any Rule 10b5-1 plan then in effect, price, general business and market conditions, regulatory requirements, and alternative investment opportunities or capital needs.

Except to the extent required by applicable laws or regulations, BancShares disclaims any obligation to update forward-looking statements or to publicly announce the results of any revisions to any of the forward-looking statements included herein to reflect future events or developments. Additional factors which could affect the forward-looking statements can be found in BancShares’ Annual Report on Form 10-K for the fiscal year ended December 31, 2025 and its other filings with the Securities and Exchange Commission.

SIGNATURE

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

First Citizens BancShares, Inc.

(Registrant)

Date:

October 23, 2026

By:

/s/ Craig L. Nix

Craig L. Nix

Chief Financial Officer

NEWS RELEASE


For Immediate Release	Contact:	Deanna Hart	Angela English
October 23, 2026		Investor Relations	Corporate Communications
		919-716-2137	803-931-1854

FIRST CITIZENS BANCSHARES REPORTS THIRD QUARTER 2026 EARNINGS, ANNOUNCES ADDITIONAL SHARE REPURCHASE PLAN

RALEIGH, N.C. -- First Citizens BancShares, Inc. (“BancShares”) (Nasdaq: FCNCA) reported earnings for the third quarter of 2026.

Chairman and CEO Frank B. Holding, Jr. said: “Third quarter performance exceeded our expectations, fueled by strong, high quality top-line growth, accelerated loan and deposit growth, highly resilient credit quality, and expense discipline. We returned $600 million to our stockholders through share repurchases and further optimized our balance sheet by repaying another $8.0 billion of the Purchase Money Note. Additionally, we are pleased to announce the approval by our Board of Directors of a new share repurchase plan, authorizing the repurchase of up to $1.2 billion of our Class A common shares through 2027, a testament to our dedication to long-term value creation and returning capital to our stockholders.”

BMO BRANCH ACQUISITION

On September 4, 2026, First-Citizens Bank & Trust Company (“First Citizens Bank”), the wholly owned banking subsidiary of BancShares, completed its previously announced acquisition of 138 branches from BMO Bank N.A. located throughout the Midwest, Great Plains and West regions of the U.S. (the “BMO Branch Acquisition”). In connection with the BMO Branch Acquisition, First Citizens Bank assumed approximately $4.9 billion in deposits and acquired approximately $650 million in loans.

FINANCIAL HIGHLIGHTS

Measures referenced below “as adjusted” or “excluding PAA” (or purchase accounting accretion) are non-GAAP financial measures. Refer to the Financial Supplement available at ir.firstcitizens.com or www.sec.gov for a reconciliation of each non-GAAP measure to the most directly comparable GAAP measure.

Net income for the third quarter of 2026 (“current quarter”) was $606 million, compared to $672 million for the second quarter of 2026 (“linked quarter”). Net income available to common stockholders for the current quarter was $577 million, or $51.23 per common share, a $63 million decrease from $640 million, or $55.52 per common share, in the linked quarter.

Adjusted net income for the current quarter was $652 million, compared to $691 million for the linked quarter. Adjusted net income available to common stockholders was $623 million, or $55.37 per common share, a $36 million decrease from $659 million, or $57.09 per common share, in the linked quarter.

NET INTEREST INCOME AND MARGIN

•Net interest income was $1.70 billion for the current quarter, an increase of $43 million over the linked quarter. Net interest income, excluding PAA, was $1.66 billion, an increase of $47 million over the linked quarter.

◦Interest income on loans increased $88 million, mainly due to a higher average balance and a higher yield, partially offset by a $5 million decrease in loan PAA.

◦Interest income on investment securities increased $26 million due to a higher average balance and a higher yield.

◦Interest expense on borrowings decreased $19 million, mainly due to a decline in the average balance as we repaid an additional $8.00 billion of the Purchase Money Note, partially offset by a higher average balance of and a higher rate paid on senior unsecured borrowings.

◦Interest expense on interest-bearing deposits increased $90 million due to a higher average balance and a higher rate paid, reflecting growth in the Direct Bank and brokered deposits.

•Net interest margin (“NIM”) was 3.07% for the current quarter, a modest decline of 3 basis points from the linked quarter. NIM, excluding PAA, was 2.99% in the current quarter, down 2 basis points from the linked quarter.

◦The yield on average interest-earning assets was 5.36%, an increase of 2 basis points from the linked quarter, mainly due to higher yields on and higher average balances of loans and investment securities.

◦The rate paid on average interest-bearing liabilities was 3.01%, an increase of 6 basis points from the linked quarter, primarily due to increases in the average balance of and rate paid on interest-bearing deposits, partially offset by the impact of a lower average balance of borrowings.

NONINTEREST INCOME AND EXPENSE

•Noninterest income was $734 million, compared to $776 million in the linked quarter, a decrease of $42 million. Adjusted noninterest income was $575 million, a decrease of $11 million from the linked quarter. The decreases in noninterest income and adjusted noninterest income were largely due to the following:

◦Other noninterest income decreased $42 million, mainly reflecting a $37 million sequential quarter decrease in the fair value of equity warrants as the fair value declined $6 million in the current quarter after increasing $31 million in the linked quarter. Additionally, the gain on tax credit investments decreased $12 million as the linked quarter included a gain on sale. The decreases in other noninterest income were partially offset by a $13 million increase in the fair value of customer derivatives.

◦Lending-related fees increased $10 million, largely driven by higher capital markets activity.

◦Client investment fees increased $9 million, mainly due to higher average off-balance sheet client funds.

◦Rental income on operating lease equipment increased $8 million, primarily due to growth in the railcar portfolio, positive repricing, and increased utilization.

•Additionally, the fair value adjustment on marketable equity securities decreased $38 million, partially offset by a $28 million increase in the realized gain on sale of investments. The loss on extinguishment of debt increased $12 million due to payments of $8.00 billion on the Purchase Money Note in the current quarter, compared to $2.50 billion in the linked quarter.

•Noninterest expense was $1.57 billion, an increase of $22 million from the linked quarter, mainly due to the following:

◦Other noninterest expense increased $19 million, including software impairment and other accruals.

◦Acquisition-related expenses increased $10 million due to completion of the BMO Branch Acquisition.

◦Third-party processing fees increased $12 million, largely offset by a decrease of $8 million in equipment expense, reflecting continued investment in digital infrastructure and data center modernization.

◦Professional fees decreased $8 million as several risk management and technology projects were completed.

◦Marketing expense decreased $5 million, primarily due to lower promotion costs for Direct Bank deposits.

•Adjusted noninterest expense was $1.36 billion, an increase of $9 million from the linked quarter.

BALANCE SHEET SUMMARY

•Loans and leases were $157.19 billion at September 30, 2026, an increase of $6.16 billion or 4.1% compared to $151.03 billion at June 30, 2026, primarily due to loan growth of $5.48 billion in the Commercial Bank segment, mainly concentrated in Fund Banking. Loan growth of $633 million in the General Bank segment was largely due to the BMO Branch Acquisition.

•Total investment securities were $44.88 billion at September 30, 2026, an increase of $1.32 billion since June 30, 2026. Purchases during the current quarter remained concentrated in available for sale U.S. treasury and agency mortgage-backed securities.

•Deposits were $185.26 billion at September 30, 2026, an increase of $11.84 billion or 6.8% since June 30, 2026, due to the following:

◦General Bank segment deposits increased $5.66 billion, largely due to deposits of approximately $4.86 billion assumed in the BMO Branch Acquisition.

◦Corporate deposits increased $4.71 billion, mainly due to growth in the Direct Bank and brokered deposits of $3.21 billion and $1.32 billion, respectively.

◦Commercial Bank segment deposits increased $1.46 billion.

•Noninterest-bearing deposits decreased by $73 million (0.2% from the linked quarter) and represented 22.9% of total deposits as of September 30, 2026, compared to 24.5% at June 30, 2026. The cost of average total deposits was 2.16% for the current quarter, compared to 2.07% for the linked quarter.

•Borrowings were $24.47 billion at September 30, 2026, a decrease of $7.72 billion compared to $32.19 billion at June 30, 2026, mainly due to payments of $8.00 billion on the Purchase Money Note, partially offset by the issuance of $400 million of senior unsecured notes by First Citizens Bank.

•The Purchase Money Note declined from $35.85 billion at September 30, 2025 to $20.45 billion at September 30, 2026.

•Funding mix improved as deposits represented 88.3% of total funding at September 30, 2026 compared to 84.3% at June 30, 2026.

•Interest-earning deposits at banks were $18.29 billion at September 30, 2026, a decrease of $2.84 billion compared to $21.13 billion at June 30, 2026, a function of the balance sheet trends discussed above.

PROVISION FOR CREDIT LOSSES AND CREDIT QUALITY

•Provision for credit losses was $55 million for the current quarter, compared to a benefit for credit losses of $10 million for the linked quarter. The current quarter included a provision for loan and lease losses of $50 million and a provision for off-balance sheet credit exposure of $6 million.

◦The provision for loan and lease losses for the current quarter was $50 million, compared to $34 million for the linked quarter. The $16 million increase was mainly attributable to the impact of a $48 million reserve release in the current quarter compared to a $74 million reserve release in the linked quarter, partially offset by a decline of $5 million in net charge-offs and the initial reserve of $5 million for the loans acquired in the BMO Branch Acquisition.

▪The $48 million reserve release in the current quarter was largely driven by lower specific reserves, improvements in credit quality, and growth concentrated in capital call lines which have a significantly lower loss rate relative to our other loan portfolios, partially offset by changes in the macroeconomic scenarios.

▪The $74 million reserve release in the linked quarter was largely driven by lower specific reserves, improvements in credit quality including updates to certain models used to estimate the allowance, changes in the macroeconomic scenarios, and growth concentrated in capital call lines.

•Net charge-offs were $103 million (0.27% of average loans) for the current quarter, compared to $108 million (0.29% of average loans) for the linked quarter.

•Nonaccrual loans were $1.37 billion (0.87% of loans) at September 30, 2026, compared to $1.45 billion (0.96% of loans) at June 30, 2026.

•The allowance for loan and lease losses totaled $1.44 billion at September 30, 2026, compared to $1.48 billion at June 30, 2026. The allowance for loan and lease losses as a percentage of loans was 0.91% at September 30, 2026, compared to 0.98% at June 30, 2026.

CAPITAL AND LIQUIDITY

•Capital ratios remained above regulatory requirements. The estimated total risk-based capital, Tier 1 risk-based capital, Common equity Tier 1 risk-based capital, and Tier 1 leverage ratios were 12.90%, 11.32%, 10.24%, and 9.00%, respectively, at September 30, 2026. During the current quarter, BancShares issued Series F perpetual preferred stock for an aggregate amount of $300 million, which is included in Tier 1 capital.

•During the current quarter, we repurchased 278,828 shares of our Class A common stock for $600 million and paid a dividend of $2.10 per share on our Class A and Class B common stock. Shares repurchased during the current quarter

represented 2.68% of Class A common shares and 2.45% of total Class A and Class B common shares outstanding at June 30, 2026.

◦From inception of the 2024 Share Repurchase Plan through September 30, 2026, we have repurchased 3,420,683 shares of our Class A common stock for $6.79 billion, representing 25.29% of Class A common shares and 23.54% of total Class A and Class B common shares outstanding as of June 30, 2024.

◦As of September 30, 2026, the total capacity remaining under the 2025 Share Repurchase Plan was $711 million. Additionally, the entire $1.2 billion capacity through 2027 remains under the Share Repurchase Plan announced on October 23, 2026 (“2027 SRP”).

•Liquidity position remains strong as liquid assets were $57.33 billion at September 30, 2026, compared to $59.14 billion at June 30, 2026.

EARNINGS CALL/ WEBCAST DETAILS

BancShares will host a conference call to discuss the company's financial results on Friday, October 23, 2026, at 9 a.m. Eastern time.

The call may be accessed via webcast on the company’s website at ir.firstcitizens.com.

Our earnings release, investor presentation, and financial supplement are available at ir.firstcitizens.com. In addition, these materials will be furnished to the Securities and Exchange Commission (the “SEC”) on a Form 8-K and will be available on the SEC website at www.sec.gov. After the event, a replay of the call will be available via webcast at ir.firstcitizens.com.

ABOUT FIRST CITIZENS BANCSHARES

First Citizens BancShares, Inc. (Nasdaq: FCNCA), a top 20 U.S. financial institution with more than $225 billion in assets and a member of the Fortune 500TM, is the financial holding company for First-Citizens Bank & Trust Company (“First Citizens Bank”). Headquartered in Raleigh, N.C., First Citizens Bank has built a unique legacy of strength, stability and long-term thinking that has spanned generations. First Citizens offers an array of general banking services with branches and offices nationwide; commercial banking expertise delivering best-in-class lending, leasing and other financial services coast to coast; innovation banking serving businesses at every stage; and a nationwide direct bank. Discover more at firstcitizens.com.

FORWARD-LOOKING STATEMENTS

This communication contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 regarding the financial condition, results of operations, business plans, asset quality, future performance, and other strategic goals of BancShares. Words such as “anticipates,” “believes,” “estimates,” “expects,” “predicts,” “forecasts,” “intends,” “plans,” “projects,” “targets,” “designed,” “could,” “may,” “should,” “will,” “potential,” “continue,” “aims” or other similar words and expressions are intended to identify these forward-looking statements. These forward-looking statements are based on BancShares’ current expectations and assumptions regarding BancShares’ business, the economy, and other future conditions.

alternative funding, the potential impact of decisions by the Federal Reserve on BancShares’ capital plans, adverse developments with respect to U.S. or global economic conditions, including significant turbulence in the capital or financial markets, the impact of any sustained or elevated inflationary environment, the impact of any cyberattack, information or security breach, the effect of technological change, including artificial intelligence and digital assets, the impact of implementation and compliance with current or proposed laws, regulations and regulatory interpretations, including potential increased regulatory requirements, limitations, and costs, such as FDIC special assessments, increases to FDIC deposit insurance premiums, changes in regulatory capital requirements, or limitations on credit card interest rates, along with the risk that such laws, regulations and regulatory interpretations may change, the availability of capital and personnel, changes or enhancements BancShares implements with respect to risk management, technology, personnel, financial service offerings, or other areas, and the risks associated with BancShares’ previously completed acquisition transactions, including the integration of, and retention of deposits and clients acquired in, the BMO Branch Acquisition, or any future transactions.

NON-GAAP MEASURES

Certain measures in this release, including those referenced as “adjusted” or “excluding PAA,” are “non-GAAP,” meaning they are numerical measures of BancShares’ financial performance, financial position or cash flows that are not presented in accordance with generally accepted accounting principles in the U.S. (“GAAP”) because they exclude or include amounts or are adjusted in some way so as to be different than the most directly comparable measures calculated and presented in accordance with GAAP in BancShares’ statements of income, balance sheets or statements of cash flows and also are not codified in U.S. banking regulations currently applicable to BancShares. BancShares management believes that non-GAAP financial measures, when reviewed in conjunction with GAAP financial information, can provide transparency about or an alternative means of assessing its operating results, financial position or cash flows to its investors, analysts and management. These non-GAAP measures should be considered in addition to, and not superior to or a substitute for, GAAP measures. Each non-GAAP measure is reconciled to the most comparable GAAP measure in the non-GAAP reconciliation. This information can be found in the Financial Supplement located in the Quarterly Results section of our website at https://ir.firstcitizens.com/financial-information/quarterly-results/default.aspx.

First Citizens BancShares, Inc. Third Quarter 2026 Earnings Conference Call October 23, 2026

2 Table of Contents Pages Section I – Third Quarter Overview & Strategic Priorities 4 – 7 Section II – Third Quarter 2026 Financial Results 8 – 27 Financial Highlights 9 – 10 Earnings Highlights 11 Net interest income and margin 12 – 13 Noninterest income and expense 14 – 15 Balance Sheet Highlights 16 Loans and Leases 17 – 18 Deposits 19 – 20 Commercial Bank Funding Trends 21 Funding Mix 22 FDIC Purchase Money Note Principal Balance Prepayment 23 Credit Quality Trends and Allowance 24 – 25 Capital & Share Repurchase Plan Update 26 – 27 Section III – Financial Outlook 28 – 29 Section IV – Appendix 30 – 41 Section V – Non-GAAP Reconciliations 42 – 50

3 Forward Looking Statements This communication contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 regarding the financial condition, results of operations, business plans, asset quality, future performance, and other strategic goals of BancShares. Words such as “anticipates,” “believes,” “estimates,” “expects,” “predicts,” “forecasts,” “intends,” “plans,” “projects,” “targets,” “designed,” “could,” “may,” “should,” “will,” “potential,” “continue,” “aims” or other similar words and expressions are intended to identify these forward-looking statements. These forward-looking statements are based on BancShares’ current expectations and assumptions regarding BancShares’ business, the economy, and other future conditions. Because forward-looking statements relate to future results and occurrences, they are subject to inherent risks, uncertainties, changes in circumstances and other factors that are difficult to predict. Many possible events or factors could affect BancShares’ future financial results and performance and could cause actual results, performance or achievements of BancShares to differ materially from any anticipated results expressed or implied by such forward-looking statements. Such risks and uncertainties include, among others, general competitive, economic (including the imposition of tariffs, retaliatory tariff measures, trade barriers on trading partners, and supply chain disruptions), political (including impacts of any U.S. government shutdown), geopolitical events (including conflicts or developments in Ukraine, the Middle East and Latin America), natural disasters and market conditions, including changes in competitive pressures among financial institutions and the impacts related to or resulting from previous bank failures, the risks and impacts of future bank failures and other volatility in the banking industry, public perceptions of our business practices, including our deposit pricing and acquisition activity, the financial success or changing conditions or strategies of BancShares’ vendors or customers, including changes in demand for deposits, loans and other financial services, fluctuations in interest rates, changes in the quality or composition of BancShares’ loan or investment portfolio, actions of government regulators, including interest rate decisions by the Board of Governors of the Federal Reserve Board (the “Federal Reserve”), changes to estimates of future costs and benefits of actions taken by BancShares, BancShares’ ability to maintain adequate sources of funding and liquidity, the timing and amount of any prepayments of the Purchase Money Note, which depend on deposit growth, market conditions and the availability and cost of alternative funding, the potential impact of decisions by the Federal Reserve on BancShares’ capital plans, adverse developments with respect to U.S. or global economic conditions, including significant turbulence in the capital or financial markets, the impact of any sustained or elevated inflationary environment, the impact of any cyberattack, information or security breach, the effect of technological change, including artificial intelligence and digital assets, the impact of implementation and compliance with current or proposed laws, regulations and regulatory interpretations, including potential increased regulatory requirements, limitations, and costs, such as FDIC special assessments, increases to FDIC deposit insurance premiums, changes in regulatory capital requirements, or limitations on credit card interest rates, along with the risk that such laws, regulations and regulatory interpretations may change, the availability of capital and personnel, changes or enhancements BancShares implements with respect to risk management, technology, personnel, financial service offerings, or other areas, and the risks associated with BancShares’ previously completed acquisition transactions, including the integration of, and retention of deposits and clients acquired in, the BMO Branch Acquisition, or any future transactions. BancShares’ Share Repurchase Plan announced in July 2025 (“2025 SRP”) allows BancShares to repurchase shares of its Class A common stock through 2026, and the Share Repurchase Plan announced in October 2026 (“2027 SRP”) allows BancShares to repurchase shares of its Class A common stock in 2027. BancShares is not obligated under the 2025 SRP or the 2027 SRP to repurchase any minimum or particular number of shares, and repurchases may be suspended or discontinued at any time (subject to the terms of any Rule 10b5-1 plan in effect) without prior notice. The authorization to repurchase Class A common stock will be utilized at management’s discretion. The actual timing and amount of Class A common stock that may be repurchased under the 2025 SRP or the 2027 SRP will depend on a number of factors, including the terms of any Rule 10b5-1 plan then in effect, price, general business and market conditions, regulatory requirements, and alternative investment opportunities or capital needs. Except to the extent required by applicable laws or regulations, BancShares disclaims any obligation to update forward-looking statements or to publicly announce the results of any revisions to any of the forward-looking statements included herein to reflect future events or developments. Additional factors which could affect the forward-looking statements can be found in BancShares’ Annual Report on Form 10-K for the fiscal year ended December 31, 2025 and its other filings with the SEC. Non-GAAP Measures Certain measures in this presentation, including those referenced as “adjusted” or “excluding PAA,” are “non-GAAP,” meaning they are numerical measures of BancShares’ financial performance, financial position or cash flows that are not presented in accordance with generally accepted accounting principles in the U.S. (“GAAP”) because they exclude or include amounts or are adjusted in some way so as to be different than the most direct comparable measures calculated and presented in accordance with GAAP in BancShares’ statements of income, balance sheets or statements of cash flows and also are not codified in U.S. banking regulations currently applicable to BancShares. BancShares management believes that non-GAAP financial measures, when reviewed in conjunction with GAAP financial information, can provide transparency about or an alternative means of assessing its operating results, financial position or cash flows to its investors, analysts and management. These non-GAAP measures should be considered in addition to, and not superior to or a substitute for, GAAP measures. Each non-GAAP measure is reconciled to the most comparable GAAP measure in the non-GAAP reconciliation in Section V of this presentation. Certain financial results referenced as “Adjusted” in this presentation exclude notable items. The Adjusted financial measures are non-GAAP. Refer to Section V of this presentation for a reconciliation of Non-GAAP financial measures to the most directly comparable GAAP measure. Reclassifications See Section IV entitled Appendix for information on reclassifications. Important Notices

Third Quarter Overview & Strategic Priorities Section I

5 Third Quarter 2026 Snapshot Key Highlights: ■ Strong financial results: • EPS, ROE and ROA results exceeded our expectations. • Delivered positive adjusted operating leverage (2) through net revenue growth and disciplined expense management. ■ Strategic balance sheet management: • Balance sheet momentum continued with robust loan and deposit growth. • Achieved strong period-end and average off-balance sheet client funds growth during the quarter. • Accelerated prepayment of the FDIC Purchase Money Note with $9.5 billion in payments from July to October. ■ Continued optimization of capital: • Issued $300 million of preferred stock in September. • Repurchased $600 million in Class A common shares in the third quarter and in October announced a $1.2 billion share repurchase plan to begin in 2027. ■ Brand launch completed: • Aligned businesses with a unified brand strategy to enhance awareness, deepen client engagement and support long-term growth. Financial Results: Adjusted EPS (1) $55.37 Adjusted ROE / ROA (1) 12.24% / 1.08% NIM 3.07% Adjusted Efficiency Ratio (1) 59.59% Loan Growth (EOP / Avg) (3) 4.1% / 2.9% Deposit Growth (EOP / Avg) (3) 6.8% / 4.7% CET1 Ratio (4) 10.24% (1) Non-GAAP measure: see Section V entitled Non-GAAP Reconciliations. (2) Operating leverage is calculated as the quarter-over-quarter growth rate of net revenue (net interest income plus noninterest income) less the quarter-over-quarter growth rate of noninterest expense. Adjusted operating leverage is a non-GAAP measure and calculated using adjusted noninterest income and adjusted noninterest expense, which exclude the impact of notable items. (3) Loan and deposit growth percentages are current quarter compared to the linked quarter. (4) The CET1 ratio represents a BancShares ratio and is preliminary pending completion of quarterly regulatory filings.

6 BMO Branch Acquisition – Expanding National Presence Successfully converted the acquired branches during the third quarter. 138 New branches from BMO ~$4.9 B Deposits acquired ~$650 MM Loans acquired ~1.05% Weighted average cost of deposits ~5.50% Weighted average yield on loans Geographic Footprint: Strategic Rationale: • Expands the General Bank branch network across 11 states, adding scale alongside First Citizens’ existing branch footprint. • Supports our “Client Focus” and “Balance Sheet Optimization” strategic priorities by expanding our client base and growing core, low cost deposit relationships. • Extends our track record of disciplined acquisition integration. • Net liquidity from the transaction supports prepayment of the FDIC Purchase Money Note. Note – BMO branch acquisition metrics are as of September 4, 2026 and the branch map is sourced from S&P as of September 30, 2026. First Citizens (518) BMO (138)

7 Strategic Priorities • Expand and grow our capabilities and products while harnessing the scale of the enterprise and maintaining a client- first focus. Client Focus • Attract, retain and develop associates who align with our long-term direction and culture while scaling for continued growth. Talent & Culture • Optimize processes and systems to reduce organizational complexity and maximize productivity. Operational Efficiency • Manage our balance sheet prudently to optimize our funding and liquidity profile while driving core deposit growth and enhancing returns. Balance Sheet Optimization Risk Management

Third Quarter 2026 Financial Results Section II

9 3Q26 Financial Results - Takeaways EPS, ROE and ROA exceeded our expectations.1 Returned $600 million in capital to shareholders through the repurchase of Class A common stock. 8 Prepaid $8.0 billion of the FDIC Purchase Money Note during the third quarter and an additional $1.5 billion in October, bringing the total prepayments to $17 billion. 7 Net interest income grew during the quarter, supported by balance sheet growth. NIM remained resilient. 2 Noninterest income performance exceeded our expectations driven by growth in our fee income lines of business. Noninterest expense was aligned with expectations. 3 Credit quality remained resilient and the NCO ratio improved by 2 basis points sequentially, outperforming our guidance range. 6 Loans grew $6.2 billion or by 4.1% over the linked quarter. Growth was broad-based within the Commercial Bank but primarily concentrated in Fund Banking. 4 Deposits increased $11.8 billion or by 6.8% over the linked quarter driven by organic growth in the General and Commercial Banks, supplemented by the BMO branch acquisition, Direct Bank and brokered deposits. 5

10 3Q26 2Q26 3Q25 EPS (basic and diluted) $ 51.23 $ 55.37 $ 55.52 $ 57.09 $ 43.08 $ 44.62 ROE 11.33 % 12.24 % 12.58 % 12.94 % 10.26 % 10.62 % ROTCE (non-GAAP) 11.67 12.61 12.92 13.28 10.53 10.91 ROA 1.00 1.08 1.15 1.18 0.98 1.01 PPNR ROA (non-GAAP) 1.42 1.51 1.50 1.53 1.62 1.67 NIM 3.07 3.07 3.10 3.10 3.26 3.26 NIM, ex PAA (non-GAAP) 2.99 2.99 3.01 3.01 3.15 3.15 NCO ratio 0.27 0.27 0.29 0.29 0.65 0.65 Efficiency ratio 64.68 59.59 63.75 60.05 61.27 56.78 Reported Adjusted (Non-GAAP) Reported Adjusted (Non-GAAP) Reported Adjusted (Non-GAAP) Financial Highlights Note – Adjusted columns, ROTCE, PPNR ROA and NIM, ex PAA represent non-GAAP measures: see Section V entitled Non-GAAP Reconciliations.

11 Reported Increase (decrease) 3Q26 vs 2Q26 (1) 3Q26 vs 3Q25 (1) 3Q26 2Q26 3Q25 $ % $ % Net interest income $ 1,699 $ 1,656 $ 1,734 $ 43 2.6 % $ (35) (2.0) % Noninterest income 734 776 699 (42) (5.4) 35 5.1 Net revenue 2,433 2,432 2,433 1 — — — Noninterest expense 1,573 1,551 1,491 22 1.5 82 5.6 Pre-provision net revenue (2) 860 881 942 (21) (2.5) (82) (8.8) Provision (benefit) for credit losses 55 (10) 191 65 650.2 (136) (71.2) Income before income taxes 805 891 751 (86) (9.8) 54 7.0 Income tax expense 199 219 183 (20) (9.1) 16 8.2 Net income 606 672 568 (66) (10.0) 38 6.6 Preferred stock dividends 29 32 14 (3) (8.9) 15 103.0 Net income available to common stockholders $ 577 $ 640 $ 554 $ (63) (10.0) % $ 23 4.1 % Adjustments for notable items 3Q26 2Q26 3Q25 Noninterest income $ (159) $ (190) $ (181) Noninterest expense (218) (205) (212) Income tax expense 13 (4) 12 Adjusted (Non-GAAP) (2) Increase (decrease) 3Q26 vs 2Q26 (1) 3Q26 vs 3Q25 (1) 3Q26 2Q26 3Q25 $ % $ % Net interest income $ 1,699 $ 1,656 $ 1,734 $ 43 2.6 % $ (35) (2.0) % Noninterest income 575 586 518 (11) (2.0) 57 11.1 Net revenue 2,274 2,242 2,252 32 1.4 22 1.0 Noninterest expense 1,355 1,346 1,279 9 0.6 76 6.0 Pre-provision net revenue (2) 919 896 973 23 2.5 (54) (5.6) Provision (benefit) for credit losses 55 (10) 191 65 650.2 (136) (71.2) Income before income taxes 864 906 782 (42) (4.7) 82 10.4 Income tax expense 212 215 195 (3) (1.7) 17 8.7 Net income 652 691 587 (39) (5.6) 65 11.0 Preferred stock dividends 29 32 14 (3) (8.9) 15 103.0 Net income available to common stockholders $ 623 $ 659 $ 573 $ (36) (5.4) % $ 50 8.6 % Quarterly Earnings Highlights ($ in millions) (1) Percent change is calculated using unrounded numbers and therefore may not recalculate precisely using the displayed rounded amounts. (2) Non-GAAP measure: see Section V entitled Non-GAAP Reconciliations.

12 $1,673 $1,673 $1,582 $1,608 $1,655 3.15% 3.11% 3.01% 3.01% 2.99% NII, ex PAA (Non-GAAP) NIM, ex PAA (Non-GAAP) 3Q25 4Q25 1Q26 2Q26 3Q26 $1,734 $1,722 $1,621 $1,656 $1,699 3.26% 3.20% 3.09% 3.10% 3.07% NII NIM 3Q25 4Q25 1Q26 2Q26 3Q26 $43 million & (-3 bps) Net interest income and margin ($ in millions) $47 million & (-2 bps) (1) (1) Change vs 3Q26 2Q26 3Q25 2Q26 3Q25 Avg Balance Income / Expense Yield / Rate Avg Balance Income / Expense Yield / Rate Avg Balance Income / Expense Yield / Rate Avg Balance Income / Expense Yield / Rate Avg Balance Income / Expense Yield / Rate Loans and leases (2) (3) $ 153,107 $ 2,341 6.07 % $ 149,275 $ 2,253 6.05 % $ 141,785 $ 2,300 6.44 % $ 3,832 $ 88 0.02 % $ 11,322 $ 41 (0.37) % Investment securities and reverse repos 45,087 427 3.77 43,214 401 3.72 45,111 433 3.83 1,873 26 0.05 (24) (6) (0.06) Interest-earning deposits at banks 21,538 197 3.64 21,501 197 3.67 24,146 265 4.36 37 — (0.03) (2,608) (68) (0.72) Total interest-earning assets (3) $ 219,732 $ 2,965 5.36 % $ 213,990 $ 2,851 5.34 % $ 211,042 $ 2,998 5.64 % $ 5,742 $ 114 0.02 % $ 8,690 $ (33) (0.28) % Interest-bearing deposits $ 136,772 $ 971 2.82 % $ 129,385 $ 881 2.73 % $ 120,575 $ 911 3.00 % $ 7,387 $ 90 0.09 % $ 16,197 $ 60 (0.18) % Total borrowings 30,622 295 3.85 33,229 314 3.78 38,258 353 3.70 (2,607) (19) 0.07 (7,636) (58) 0.15 Total interest-bearing liabilities $ 167,394 $ 1,266 3.01 % $ 162,614 $ 1,195 2.95 % $ 158,833 $ 1,264 3.16 % $ 4,780 $ 71 0.06 % $ 8,561 $ 2 (0.15) % Net interest income $ 1,699 $ 1,656 $ 1,734 $ 43 $ (35) Net interest spread (3) 2.35 % 2.39 % 2.48 % (0.04) % (0.13) % Net interest margin (3) 3.07 % 3.10 % 3.26 % (0.03) % (0.19) % Note – Certain items above do not precisely recalculate as presented due to rounding. (1) Non-GAAP measure: see Section V entitled Non-GAAP Reconciliations. (2) Loans and leases include nonaccrual loans and loans held for sale. Interest income on loans and leases includes loan PAA income and loan fees. (3) The average balances and yields for loans and leases are calculated net of average credit balances of factoring clients to appropriately reflect the interest-earning portion of factoring receivables.

13 3.26% 0.16% 0.12% 0.11% (0.21)% (0.15)% (0.14)% (0.05)% (0.03)% 3.07% 3Q25 Loan volume Debt rate / volume Deposit rate Loan yield Deposit volume FFS yield / volume Investment yield / volume PAA 3Q26 3Q25 to 3Q26 (-19 bps) NIM Rollforward 3.10% 0.05% 0.02% 0.01% (0.05)% (0.05)% (0.01)% 3.07% 2Q26 Debt rate / volume Loan yield / volume Investment yield / volume Deposit rate Deposit volume PAA 3Q26 2Q26 to 3Q26 (-3 bps)

14 $699 $715 $692 $776 $734 $518 $529 $520 $586 $575 $181 $186 $172 $190 $159 3Q25 4Q25 1Q26 2Q26 3Q26 Noninterest income ($ in millions) Adjusted (Non-GAAP) (1) Notable items (2) Note – Percent changes above are based on unrounded amounts and may not recalculate precisely using the displayed rounded amounts. (1) Non-GAAP measure: see Section V entitled Non-GAAP Reconciliations. (2) Refer to Section V for notable item details. Noninterest income Increase (decrease) 3Q26 vs 2Q26 3Q26 vs 3Q25 3Q26 2Q26 1Q26 4Q25 3Q25 $ % $ % Total reported noninterest income $ 734 $ 776 $ 692 $ 715 $ 699 $ (42) (5.4) % $ 35 5.1 % Notable items (2) 159 190 172 186 181 (31) (15.8) (22) (12.2) Total adjusted noninterest income (1) $ 575 $ 586 $ 520 $ 529 $ 518 $ (11) (2.0) % $ 57 11.1 % Adjusted rental income on operating lease equipment (1) $ 122 $ 112 $ 115 $ 115 $ 108 $ 10 8.5 % $ 14 12.8 % Lending-related fees 83 73 69 64 67 10 14.6 16 23.1 Deposit fees and service charges 76 74 70 63 61 2 3.8 15 24.9 Client investment fees 68 59 53 54 58 9 13.1 10 16.8 Wealth management services 62 62 59 61 57 — — 5 9.6 International fees 34 36 35 37 34 (2) (2.1) — — Factoring commissions 20 18 17 20 18 2 10.1 2 13.1 Cardholder services, net 40 38 38 37 39 2 4.7 1 3.5 Merchant services, net 12 13 13 13 12 (1) (2.8) — — Insurance commissions 12 13 13 12 13 (1) (10.8) (1) (10.6) Other noninterest income 46 88 38 53 51 (42) (49.4) (5) (11.9)

15 $1,491 $1,572 $1,536 $1,551 $1,573 $1,279 $1,368 $1,330 $1,346 $1,355 $212 $204 $206 $205 $218 3Q25 4Q25 1Q26 2Q26 3Q26 Noninterest expense ($ in millions) Adjusted (Non-GAAP) (1) Notable items (2) Noninterest expense Increase (decrease) 3Q26 vs 2Q26 3Q26 vs 3Q25 3Q26 2Q26 1Q26 4Q25 3Q25 $ % $ % Total reported noninterest expense $ 1,573 $ 1,551 $ 1,536 $ 1,572 $ 1,491 $ 22 1.5 % $ 82 5.6 % Notable items (2) 218 205 206 204 212 13 6.3 6 2.8 Total adjusted noninterest expense (1) $ 1,355 $ 1,346 $ 1,330 $ 1,368 $ 1,279 $ 9 0.6 % $ 76 6.0 % Personnel cost $ 836 $ 836 $ 857 $ 849 $ 811 $ — — % $ 25 3.1 % Net occupancy expense 64 59 60 61 58 5 6.4 6 9.6 Equipment expense 133 141 136 151 137 (8) (5.4) (4) (2.5) Professional fees 14 21 18 34 26 (7) (34.2) (12) (46.7) Third-party processing fees 112 100 93 75 67 12 13.5 45 67.2 FDIC insurance expense 37 39 38 39 38 (2) (2.6) (1) (1.7) Marketing expense 40 45 30 45 33 (5) (11.5) 7 21.4 Other noninterest expense 119 105 98 114 109 14 10.6 10 9.5 Note – Percent changes above are based on unrounded amounts and may not recalculate precisely using the displayed rounded amounts. (1) Non-GAAP measure: see Section V entitled Non-GAAP Reconciliations. (2) Refer to Section V for notable item details.

16 Increase (decrease) 3Q26 vs 2Q26 3Q26 vs 3Q25 SELECT PERIOD END BALANCES 3Q26 2Q26 3Q25 $ % $ % Interest-earning deposits at banks $ 18,290 $ 21,132 $ 24,798 $ (2,842) (53.3) % $ (6,508) (26.2) % Investment securities 44,875 43,557 45,124 1,318 12.0 (249) (0.6) Loans and leases 157,190 151,034 144,758 6,156 16.2 12,432 8.6 Operating lease equipment, net (2) 9,765 9,755 9,446 10 0.4 319 3.4 Deposits 185,264 173,427 163,190 11,837 27.1 22,074 13.5 Noninterest-bearing deposits 42,402 42,475 42,752 (73) (0.7) (350) (0.8) Off-balance sheet client funds 86,058 80,624 67,056 5,434 26.7 19,002 28.3 Borrowings 24,470 32,188 38,675 (7,718) (95.1) (14,205) (36.7) Tangible common equity (non-GAAP) (3) 18,749 19,618 20,551 (869) (17.6) (1,802) (8.8) Common equity 19,516 20,135 21,105 (619) (12.2) (1,589) (7.5) Stockholders' equity 21,577 21,900 21,986 (323) (5.9) (409) (1.9) Increase (decrease) KEY METRICS 3Q26 2Q26 3Q25 3Q26 vs 2Q26 3Q26 vs 3Q25 CET1 ratio 10.24 % 10.77 % 11.65 % (0.53) % (1.41) % Book value per common share $ 1,756.40 $ 1,767.79 $ 1,672.54 $ (11.39) $ 83.86 Tangible book value per common share (non-GAAP) (3) 1,687.41 1,722.35 1,628.64 (34.94) 58.77 Tangible common equity to tangible assets (non-GAAP) (3) 7.80 % 8.30 % 8.82 % (0.50) % (1.02) % Loan to deposit ratio 84.85 87.09 88.71 (2.24) (3.86) ALLL to total loans and leases 0.91 0.98 1.14 (0.07) (0.23) Noninterest-bearing deposits to total deposits 22.89 24.49 26.20 (1.60) (3.31) Uninsured deposits 36 % 38 % 37 % (2) % (1) % Total liquid assets (available cash + HQLS) $ 57,325 $ 59,138 $ 61,924 $ (1,813) $ (4,599) Total liquidity (liquid assets & contingent sources) 88,425 89,660 93,274 (1,235) (4,849) Total liquidity / uninsured deposits 132 % 138 % 156 % (6) % (24) % Balance Sheet Highlights ($ in millions, except per share data) (1) (1) Note – The above CET1 ratio represents BancShares ratio and is preliminary pending completion of quarterly regulatory filings. (1) Percent change is calculated using unrounded numbers and therefore may not recalculate precisely using the displayed rounded amounts. The linked quarter change is annualized. (2) Operating lease equipment, net includes $9.0 billion of rail assets as of 3Q26. (3) Non-GAAP measure: see Section V entitled Non-GAAP Reconciliations.

17 $151,034 $5,523 $633 $157,190 2Q26 Commercial Bank General Bank 3Q26 $142,857 $146,944 $149,121 $150,094 $154,515 $77,798 $81,620 $84,237 $85,709 $89,934 $65,059 $65,324 $64,884 $64,385 $64,581 Commercial Bank General Bank Yield on loans 3Q25 4Q25 1Q26 2Q26 3Q26 6.24% 6.01% 6.05% 6.07%6.44% $144,758 $147,930 $148,692 $151,034 $157,190 $79,533 $82,972 $84,325 $86,679 $92,202 $65,225 $64,958 $64,367 $64,355 $64,988 Commercial Bank General Bank 3Q25 4Q25 1Q26 2Q26 3Q26 Note – Commercial Bank includes a small amount of Rail loans (less than $100 million in all periods). Rail operating lease assets are not included in the loan totals. $150,094 $4,225 $196 $154,515 2Q26 Commercial Bank General Bank 3Q26 Average RollforwardPeriod End Rollforward Average LoansPeriod End Loans Loans and Leases ($ in millions) $6.2 billion or 4.1% $4.4 billion or 2.9%

18 31% 24% 15% 15% 12% 2% 1% Commercial and industrial ($48.7) Capital call lines ($38.1) Residential and revolving mortgage ($24.4) Commercial real estate ($23.0) Owner occupied commercial mortgage ($18.3) Investor dependent ($2.6) Auto and other consumer ($2.0) 28% 7% 6% 28% 21% 6% 4% Branch Network & Other ($44.4) Wealth & Private Banking ($11.3) Mortgage ($9.3) Fund Banking ($43.2) Commercial Finance & Middle Market ($33.1) Innovation Banking ($10.1) Equipment Finance ($5.8) Loans and Leases Composition Note – Totals may not foot due to rounding. (1) Percent change is calculated using unrounded numbers and therefore may not recalculate precisely using the displayed rounded amounts. The linked quarter percent change is annualized. (2) Commercial Bank includes a small amount of Rail loans (less than $100 million in all periods). Rail operating lease assets are not included in the loan totals. Segment / Business (EOP, $ in billions) Commercial Bank: (2) General Bank: Class (EOP, $ in billions) (1)Segment / Business ($ in millions) Period End Average 3Q26 vs 2Q26 vs 3Q25 3Q26 vs 2Q26 vs 3Q25 $ $ % $ % $ $ % $ % Branch Network & Other $ 44,404 $ 557 5.0 % $ 429 1.0 % $ 44,058 $ 155 1.4 % $ 221 0.5 % Wealth & Private Banking 11,263 100 3.6 307 2.8 11,191 55 2.0 246 2.2 Mortgage 9,321 (24) (1.0) (973) (9.5) 9,332 (14) (0.6) (945) (9.2) General Bank Segment 64,988 633 3.9 (237) (0.4) 64,581 196 1.2 (478) (0.7) Fund Banking 43,181 4,425 45.3 11,836 37.8 41,282 3,965 42.2 11,829 40.2 Commercial Finance & Middle Market 33,059 293 3.5 191 0.6 32,891 (55) (0.7) (126) (0.4) Innovation Banking 10,099 625 26.2 796 8.6 9,704 317 13.4 548 6.0 Equipment Finance 5,761 (8) (0.6) (212) (3.5) 5,694 (54) (3.7) (275) (4.6) Other 102 188 NM 58 130.5 363 52 66.3 160 79.0 Commercial Bank Segment (2) 92,202 5,523 25.3 12,669 15.9 89,934 4,225 19.6 12,136 15.6 Total Loans $ 157,190 $ 6,156 16.2 % $ 12,432 8.6 % $ 154,515 $ 4,421 11.7 % $ 11,658 8.2 % (1) (1) (1) (1)

19 $170,639 $7,387 $656 $178,682 2Q26 Interest- bearing Noninterest- bearing 3Q26 $160,624 $163,191 $165,927 $170,639 $178,682 $120,575 $121,433 $125,203 $129,385 $136,772 $40,049 $41,758 $40,724 $41,254 $41,910 Interest-bearing Noninterest-bearing Cost of deposits 3Q25 4Q25 1Q26 2Q26 3Q26 $163,190 $161,578 $170,842 $173,427 $185,264 $120,438 $120,925 $127,236 $130,952 $142,862 $42,752 $40,653 $43,606 $42,475 $42,402 Interest-bearing Noninterest-bearing 3Q25 4Q25 1Q26 2Q26 3Q26 Average RollforwardPeriod End Rollforward Average DepositsPeriod End Deposits $173,427 $11,910 $(73) $185,264 2Q26 Interest- bearing Noninterest- bearing 3Q26 Deposits ($ in millions) 2.09% 2.04% 2.07% 2.16%2.25% $11.8 billion or 6.8% $8.0 billion or 4.7%

20 52% 23% 15% 10% Money market & savings ($96.4) Noninterest-bearing demand ($42.4) Checking with interest ($28.3) Time deposits ($18.1) 37% 5% 2% 15% 9% 2% 28% 2% Branch Network & Other ($69.1) Community Association Banking ($8.5) Wealth & Private Banking ($3.8) Innovation Banking ($27.6) Fund Banking ($15.9) Commercial Finance & Middle Market ($3.4) Direct Bank ($51.4) Brokered Deposits & Other ($5.3) Segment / Business (EOP, $ in billions)Type (EOP, $ in billions) Commercial Bank: (2) General Bank: Corporate: Deposit Composition Note – Totals may not foot due to rounding. (1) Percent change is calculated using unrounded numbers and therefore may not recalculate precisely using the displayed rounded amounts. The linked quarter percent change is annualized. (2) Other balances include in transit funds between Commercial Bank deposits and off-balance sheet client funds. (3) Commercial Bank includes a small amount of Rail deposits (less than $50 million in all periods). (1) (1)Segment / Business ($ in millions) Period End Average 3Q26 vs 2Q26 vs 3Q25 3Q26 vs 2Q26 vs 3Q25 $ $ % $ % $ $ % $ % Branch Network & Other $ 69,059 $ 5,580 34.9 % $ 5,947 9.4 % $ 65,272 $ 1,913 12.0 % $ 3,025 4.9 % Community Association Banking 8,502 52 2.4 715 9.2 8,606 113 5.3 584 7.3 Wealth & Private Banking 3,820 31 3.2 123 3.3 3,839 89 9.4 226 6.3 General Bank Segment 81,381 5,663 29.7 6,785 9.1 77,717 2,115 11.1 3,835 5.2 Innovation Banking 27,585 1,651 25.3 4,492 19.5 27,141 839 12.7 3,573 15.2 Fund Banking 15,904 18 0.4 1,369 9.4 15,616 217 5.6 1,315 9.2 Commercial Finance & Middle Market 3,448 287 36.0 470 15.8 3,374 38 4.5 439 15.0 Other (2) 216 (495) (276.2) (2,049) (90.5) 97 (69) (164.9) 279 (153.3) Commercial Bank Segment (3) 47,153 1,461 12.7 4,282 10.0 46,228 1,025 9.0 5,606 13.8 Direct Bank 51,428 3,206 26.4 6,282 13.9 49,996 3,504 29.9 4,775 10.6 Brokered Deposits & Other 5,302 1,507 157.5 4,725 NM 4,741 1,399 166.1 3,842 427.4 Corporate 56,730 4,713 35.9 11,007 24.1 54,737 4,903 39.0 8,617 18.7 % Total Deposits $ 185,264 $ 11,837 27.1 % $ 22,074 13.5 % $ 178,682 $ 8,043 18.7 % $ 18,058 11.2 % (1) (1) (1) (1)

21 $106,019 $110,855 $116,991 $123,265 $130,437 $65,397 $68,579 $72,443 $78,062 $84,209 $40,622 $42,276 $44,548 $45,203 $46,228 Off-balance sheet client funds Deposits 3Q25 4Q25 1Q26 2Q26 3Q26 $109,906 $111,215 $124,970 $126,298 $133,191 $67,035 $69,681 $77,777 $80,606 $86,038 $42,871 $41,534 $47,193 $45,692 $47,153 Off-balance sheet client funds Deposits 3Q25 4Q25 1Q26 2Q26 3Q26 $123,265 $5,200 $1,925 $47 $130,437 2Q26 Innovation Banking Fund Banking All Other 3Q26 $126,298 $4,335 $2,748 $(190) $133,191 2Q26 Innovation Banking Fund Banking All Other 3Q26 Commercial Bank Funding Trends ($ in millions) $6.9 billion or 5.5% $7.2 billion or 5.8% Note – The above represents total client funds in the Commercial Bank. Prior presentations reflected SVB Commercial total client funds only. Prior periods have been recast to conform to current presentation. Commercial Bank includes a small amount of Rail deposits (less than $50 million in all periods). Average Total Client FundsPeriod End Total Client Funds Average RollforwardPeriod End Rollforward

22 3.16% 3.03% 2.93% 2.95% 3.01% 3.00% 2.81% 2.70% 2.73% 2.82% 2.25% 2.09% 2.04% 2.07% 2.16% Cost of interest-bearing liabilities Cost of interest-bearing deposits Cost of deposits 3Q25 4Q25 1Q26 2Q26 3Q26 0.00% 0.50% 1.00% 1.50% 2.00% 2.50% 3.00% 3.50% 4.00% 4.50% Cost of funds Period End Balances Increase (decrease) 3Q26 2Q26 1Q26 4Q25 3Q25 vs 2Q26 vs 3Q25 Total deposits $ 185,264 88 % $ 173,427 84 % $ 170,842 83 % $ 161,578 82 % $ 163,190 81 % $ 11,837 $ 22,074 Securities sold under customer repurchase agreements 116 — 152 — 170 — 224 — 423 — (36) (307) Purchase Money Note 20,453 10 28,423 14 30,905 15 33,385 17 35,854 18 (7,970) (15,401) FHLB borrowings — — — — — — — — — — — — Subordinated debt 1,680 1 1,744 1 1,764 1 1,772 1 1,775 1 (64) (95) Senior unsecured borrowings 2,140 1 1,784 1 1,050 1 555 — 555 — 356 1,585 Other borrowings 81 — 85 — 73 — 72 — 68 — (4) 13 Total funding $ 209,734 100 % $ 205,615 100 % $ 204,804 100 % $ 197,586 100 % $ 201,865 100 % $ 4,119 $ 7,869 Funding Mix ($ in millions) • Continued to prepay the FDIC Purchase Money Note through $8 billion in principal balance paydowns during the third quarter and an additional $1.5 billion in October, supported primarily by strong organic deposit growth and the net liquidity from the completion of the BMO branch acquisition. • Funding mix continued to improve with approximately 88% of total funding provided by deposits. • Successfully completed the issuance of $400 million of fixed-to- floating rate senior bank notes during the quarter. • Deposit costs increased 9 basis points over the linked quarter driven by increased interest-bearing deposit balances, and the higher interest rate environment. Over the 12-month forecast horizon, we expect deposit betas to be in the 35%-40% range, including 50%-55% for interest-bearing non-maturity deposits. Note – Funding mix percentages may not foot due to rounding. Highlights

23 FDIC Purchase Money Note Principal Balance Prepayment Full prepayment of the note is forecasted to be completed ahead of the March 2028 maturity. $36.0 $33.5 $31.0 $28.5 $20.5 Original balance 4Q25 1Q26 2Q26 3Q26 4Q26 4Q27 Actual Forecast Highlights • Prepaid $8 billion in the third quarter and another $1.5 billion in October. Since beginning prepayments in 4Q25, we have repaid ~47% of the total balance or $17 billion through October 2026. • Forecasting a steady pace of prepayments in the $3.5 billion to $4 billion range quarterly and expect the full balance to be repaid by year end 2027. • Deposit growth in excess of loan growth expected to be the primary source of prepayments. • Additional funding capacity provided by ~$18 billion of unused borrowing capacity at the FHLB, brokered CD issuance and debt issuance. • Funding mix and channel utilization remain subject to market conditions and relative funding economics. Note – FDIC Purchase Money Note balances represent outstanding principal balances at period end and do not include the accounting marks on the note. Forecast ranges for 4Q26 and 4Q27 are approximate and exact dollar amounts and funding mechanisms are subject to management actions based on the considerations stated above as well as other factors. $16 - $17 PMN Balance Progression ($ in billions) Prepaid an additional $1.5 billion in October $0

24 $191 $54 $72 $(10) $55 3Q25 4Q25 1Q26 2Q26 3Q26 Credit Quality Trends and Allowance ($ in millions) Net charge-offs & NCO ratio Provision (benefit) for credit losses $234 $143 $111 $108 $1030.65% 0.39% 0.30% 0.29% 0.27% NCO $ QTD NCO ratio YTD NCO ratio 3Q25 4Q25 1Q26 2Q26 3Q26 Nonaccrual loans / total loans & leases Allowance & ALLL ratio $1,652 $1,566 $1,558 $1,484 $1,436 1.14% 1.06% 1.05% 0.98% 0.91% ALLL ALLL ratio 3Q25 4Q25 1Q26 2Q26 3Q26 0.28%0.47% 0.45% 0.30% 0.29% $1,406 $1,307 $1,429 $1,446 $1,366 0.97% 0.88% 0.96% 0.96% 0.87% Nonaccrual loans Nonaccrual loans to total loans 3Q25 4Q25 1Q26 2Q26 3Q26 (1) 3Q25 includes an $82 million individual client charge-off in the Commercial Services business within the Commercial Bank segment. This loss contributed 23 bps to the 3Q25 NCO ratio, 8 bps to the 3Q25 YTD NCO ratio, and impacted the quarterly provision for credit losses by $82 million. (2) The $82 million individual client charge-off in 3Q25 contributed 6 bps to the 2025 YTD NCO ratio. (1) (1) (2)

25 $1,484 $7 $(31) $(14) $(10) $1,436 2Q26 Economic scenarios Specific reserves Credit quality Portfolio changes 3Q26 Highlights 3Q26 vs 2Q26 • ALLL decreased $48 million from the linked quarter. • The decrease compared to the linked quarter was driven by lower specific reserves, improvements in credit quality, and growth concentrated in capital call lines which have a significantly lower loss rate relative to our other loan portfolios, partially offset by changes in the macroeconomic scenarios. • The ALLL covered annualized net charge-offs 3.4 times. The ALLL provided 1.1 times coverage of nonaccrual loans. ALLL Coverage 1.7x 2.7x 3.5x 3.4x 3.4x 1.2x 1.2x 1.1x 1.0x 1.1x ALLL ratio / NCO ratio ALLL / Nonaccrual loans 3Q25 4Q25 1Q26 2Q26 3Q26 2Q26 to 3Q26 Allowance for loan and lease losses ($ in millions)

26 Risk-based capital ratios Capital ratio rollforward Tier 1 Leverage ratio Tangible book value per share (1) Capital Risk-Based Capital Tier 1 Leverage Total Tier 1 CET1 June 30, 2026 13.37 % 11.73 % 10.77 % 9.22 % Net income 0.33 % 0.33 % 0.33 % 0.26 % Change in risk-weighted/average assets -0.41 % -0.36 % -0.33 % -0.21 % BMO branch acquisition -0.20 % -0.19 % -0.19 % -0.13 % Share repurchases -0.33 % -0.33 % -0.33 % -0.26 % Tier 2 Instrument call/phase outs 0.01 % 0.00 % 0.00 % 0.00 % Preferred issuance 0.16 % 0.16 % 0.00 % 0.13 % Common dividends -0.01 % -0.01 % -0.01 % -0.01 % Preferred dividends -0.02 % -0.02 % -0.01 % -0.01 % Other 0.00 % 0.01 % 0.01 % 0.01 % September 30, 2026 12.90 % 11.32 % 10.24 % 9.00 % Change since June 30, 2026 -0.47 % -0.41 % -0.53 % -0.22 % 11.65% 11.15% 10.83% 10.77% 10.24% 12.15% 11.91% 11.79% 11.73% 11.32% 14.05% 13.71% 13.51% 13.37% 12.90% 3Q25 4Q25 1Q26 2Q26 3Q26 $1,674.11 $158.57 ($79.09) ($36.16) ($23.72) ($6.30) $1,687.41 4Q25 Retained earnings AOCI Share repurchases BMO branch acquisition Common dividends 3Q26 Note – The above capital ratios represent BancShares ratios and are preliminary pending completion of quarterly regulatory filings. (1) Non-GAAP measure: see Section V entitled Non-GAAP Reconciliations. 9.34% 9.29% 9.30% 9.22% 9.00% Tier 1 Leverage ratio 3Q25 4Q25 1Q26 2Q26 3Q26 CET1 Tier 1 Total CET1 including impact of AOCI of 9.82% (1) at September 30, 2026.

27 Share Repurchase Plan Update • Since announcing the share repurchase plan in July 2024, we have repurchased 25.53% of Class A common shares and 23.76% of total common shares that were outstanding(1) as of June 30, 2024. • During the third quarter of 2025 we fully utilized the $3.5 billion share repurchase plan announced in July 2024 and subsequently began repurchasing shares under the $4.0 billion share repurchase plan announced in July 2025. • In October 2026, we announced an authorization to repurchase up to $1.2 billion in Class A common shares to commence in 2027. Highlights Class A Common Shares Outstanding Repurchase Summary (through 10/20/26) Period Shares Average Price Total Cost ($ in millions) 2024 814,641 $ 2,041.35 $ 1,663 2025 1,578,462 1,917.07 3,026 1Q26 449,845 2,000.67 900 2Q26 298,907 2,006.36 600 3Q26 278,828 2,152.92 600 10/01/26 to 10/20/26 31,461 2,081.37 65 Total 3,452,144 $ 1,985.57 $ 6,854 13,524,550 (814,641) (1,578,462) (1,059,041) 10,072,406 6/30/2024 Repurchased 2024 Repurchased 2025 Repurchased 2026 YTD 10/20/2026 (1) Total common shares outstanding includes 1,005,185 of Class B common shares outstanding as of June 30, 2024 and October 20, 2026.

Financial Outlook Section III

29 Metric 3Q26 4Q26 - Projected FY26 - Projected Loans and leases - EOP $157.2 billion $158 billion - $161 billion $158 billion - $161 billion Deposits - EOP $185.3 billion $189 billion - $192 billion $189 billion - $192 billion Interest rates Zero to one 25 bps rate hike Zero to one 25 bps rate hike in 4Q26; Fed funds ending between 3.75% - 4.25% Net interest income $1.70 billion $1.70 billion - $1.77 billion $6.68 billion - $6.75 billion Net charge-off ratio (annualized where applicable) 27 bps 30 bps - 35 bps 29 bps - 31 bps Adjusted noninterest income $575 million (1) $540 million - $580 million $2.22 billion - $2.26 billion Adjusted noninterest expense $1.36 billion (1) $1.35 billion - $1.39 billion $5.39 billion - $5.43 billion Effective tax rate 24.7% 24.5% - 25.5% 24.5% - 25.5% Key Earnings Estimate Assumptions (1) Non-GAAP measure: see Section V entitled Non-GAAP Reconciliations. Note - Management does not provide a reconciliation for forward-looking non-GAAP financial measures where it is unable to provide a meaningful or accurate calculation or estimation of reconciling items and the information is not available without unreasonable effort. This is due to the inherent difficulty of forecasting the occurrence and the financial impact of various items that have not yet occurred, are out of BancShares’ control, or cannot be reasonably predicted. For the same reasons, management is unable to address the probable significance of the unavailable information. Forward-looking non-GAAP financial measures provided without the most directly comparable GAAP financial measures may vary materially from the corresponding GAAP financial measures. Changes in the operating environment could introduce select risks to these assumptions. Please see important notices on forward looking statements found on page 3 for additional detail on inherent risks, uncertainties, changes in circumstances and other factors that are difficult to predict.

Appendix Section IV

31 Reclassifications In certain instances, amounts reported for prior periods in this investor presentation have been reclassified to conform to the current financial statement presentation. Such reclassifications had no effect on previously reported stockholders’ equity or net income. Segment Reclassifications During the fourth quarter of 2025, BancShares changed the composition of the Commercial Bank segment to include SVB Commercial, which was previously a separate segment, and prior period segment financial information in this investor presentation was recast accordingly. The methodologies that we use to allocate items among our segments are dynamic and may be updated periodically to reflect enhanced expense base allocation drivers, changes in the risk profile of a segment or changes in our organizational structure. Accordingly, financial results may be revised periodically to reflect these enhancements. Class Reclassifications During the fourth quarter of 2025, we updated our loan classes as summarized below (“4Q25 Loan Class Changes”): • Commercial real estate is a separate loan class. Prior to the 4Q25 Loan Class Changes, commercial real estate loans were primarily included in the non-owner occupied commercial mortgage and commercial construction loan classes. Additionally, commercial and industrial loans for the purpose of acquiring, constructing or developing real estate were previously included in the commercial and industrial loan class, and residential construction loans were previously included in the residential mortgage loan class. • Capital call lines is a separate loan class. Prior to the 4Q25 Loan Class Changes, global fund banking (which included capital call lines and certain other commercial and industrial loans in the Global Fund Banking line of business) was a separate loan class. • Commercial and industrial remained a separate loan class, but the composition was updated to: (i) include certain other commercial and industrial loans that were previously included in the global fund banking loan class prior to the 4Q25 Loan Class Changes, (ii) include leases, which was previously a separate loan class, and (iii) exclude commercial real estate loans that were previously included in the commercial and industrial loan class. • Residential mortgage loans remained a separate loan class, but the composition was updated to exclude residential construction loans which are included in the commercial real estate loan class after the 4Q25 Loan Class Changes. Loan and lease disclosures for all periods presented in this investor presentation were recast to reflect the 4Q25 Loan Class Changes. The segment information in this investor presentation was not recast as a result of the 4Q25 Loan Class Changes because the composition of reportable segments is separate and distinct from the identification of loan classes. Business Reclassifications During the third quarter of 2026, we updated naming conventions for certain business lines acquired through the FDIC-assisted acquisition of Silicon Valley Bridge Bank, N.A. ("SVBB") to support brand alignment. Reclassifications

32 Glossary of Abbreviations and Acronyms The following is a list of certain abbreviations and acronyms used throughout this document. AFS – Available for Sale ALLL – Allowance for Loan and Lease Losses AOCI – Accumulated Other Comprehensive Income (Loss) bps – Basis point(s); 1 bp = 0.01% CD – Certificate of Deposit CET1 – Common Equity Tier 1 Risk-based Capital EOP – End of Period EPS – Earnings Per Share FDIC – Federal Deposit Insurance Corporation FFS – Fed Funds Sold FHLB – Federal Home Loan Bank GAAP – United States Generally Accepted Accounting Principles HQLS – High-Quality Liquid Securities HTM – Held to Maturity NCO – Net Charge-Off NII – Net Interest Income NIM – Net Interest Margin NM – Not Meaningful PAA – Purchase Accounting Accretion or Amortization PMN – FDIC Purchase Money Note PPNR – Pre-Provision Net Revenue QTD – Quarter-to-date ROA – Return on Average Assets ROE – Return on Average Common Stockholders’ Equity ROTCE – Return on Average Tangible Common Stockholders’ Equity YTD – Year-to-date

33 Sep 30, 2026 Jun 30, 2026 Mar 31, 2026 Dec 31, 2025 Sep 30, 2025 ASSETS Cash and due from banks $ 981 $ 1,519 $ 1,080 $ 801 $ 874 Interest-earning deposits at banks 18,290 21,132 23,189 19,801 24,798 Securities purchased under agreements to resell 197 737 223 232 83 Investment in marketable equity securities 112 156 130 127 110 Investment securities available for sale 35,606 33,983 33,314 31,790 34,963 Investment securities held to maturity 9,157 9,418 9,542 9,647 10,051 Assets held for sale 142 93 1,122 804 112 Loans and leases 157,190 151,034 148,692 147,930 144,758 Allowance for loan and lease losses (1,436) (1,484) (1,558) (1,566) (1,652) Loans and leases, net of allowance for loan and lease losses 155,754 149,550 147,134 146,364 143,106 Operating lease equipment, net 9,765 9,755 9,685 9,621 9,446 Premises and equipment, net 2,751 2,523 2,499 2,447 2,283 Goodwill 418 346 346 346 346 Other intangible assets, net 349 171 182 195 208 Other assets 7,660 7,459 7,513 7,523 7,108 Total assets $ 241,182 $ 236,842 $ 235,959 $ 229,698 $ 233,488 LIABILITIES Deposits: Noninterest-bearing $ 42,402 $ 42,475 $ 43,606 $ 40,653 $ 42,752 Interest-bearing 142,862 130,952 127,236 120,925 120,438 Total deposits 185,264 173,427 170,842 161,578 163,190 Credit balances of factoring clients 1,578 1,339 1,284 1,148 1,326 Short-term borrowings 116 152 170 224 423 Long-term borrowings 24,354 32,036 33,792 35,784 38,252 Total borrowings 24,470 32,188 33,962 36,008 38,675 Other liabilities 8,293 7,988 7,823 8,726 8,311 Total liabilities 219,605 214,942 213,911 207,460 211,502 STOCKHOLDERS’ EQUITY Preferred stock 2,061 1,765 1,765 1,375 881 Common stock 11 11 12 12 13 Additional paid in capital — — — — 270 Retained earnings 20,301 20,354 20,343 20,768 20,866 Accumulated other comprehensive (loss) income (796) (230) (72) 83 (44) Total stockholders’ equity 21,577 21,900 22,048 22,238 21,986 Total liabilities and stockholders’ equity $ 241,182 $ 236,842 $ 235,959 $ 229,698 $ 233,488 BancShares Balance Sheets (unaudited) ($ in millions)

34 3Q26 2Q26 1Q26 4Q25 3Q25 INTEREST INCOME Loans and leases $ 2,341 $ 2,253 $ 2,206 $ 2,290 $ 2,300 Investment securities 427 401 384 424 433 Deposits at banks 197 197 196 226 265 Total interest income 2,965 2,851 2,786 2,940 2,998 INTEREST EXPENSE Deposits 971 881 833 861 911 Borrowings 295 314 332 357 353 Total interest expense 1,266 1,195 1,165 1,218 1,264 Net interest income 1,699 1,656 1,621 1,722 1,734 Provision (benefit) for credit losses 55 (10) 72 54 191 Net interest income after provision for credit losses 1,644 1,666 1,549 1,668 1,543 NONINTEREST INCOME Rental income on operating lease equipment 288 280 281 281 273 Lending-related fees 83 73 69 64 67 Deposit fees and service charges 76 74 70 63 61 Client investment fees 68 59 53 54 58 Wealth management services 62 62 59 61 57 International fees 34 36 35 37 34 Factoring commissions 20 18 17 20 18 Cardholder services, net 40 38 38 37 39 Merchant services, net 12 13 13 13 12 Insurance commissions 12 13 13 12 13 Realized gain on sale of investment securities, net 28 — — 3 — Fair value adjustment on marketable equity securities, net (23) 15 3 12 13 Gain on sale of leasing equipment, net 7 14 11 14 3 Loss on extinguishment of debt (19) (7) (8) (9) — Other noninterest income 46 88 38 53 51 Total noninterest income 734 776 692 715 699 NONINTEREST EXPENSE Depreciation on operating lease equipment 100 101 101 102 98 Maintenance and other operating lease expenses 66 67 65 64 67 Personnel cost 842 844 869 849 817 Net occupancy expense 64 59 60 61 58 Equipment expense 133 141 136 151 137 Professional fees 18 26 24 34 26 Third-party processing fees 112 100 93 75 67 FDIC insurance expense 37 39 38 27 38 Marketing expense 40 45 30 45 33 Acquisition-related expenses 18 8 5 33 28 Intangible asset amortization 14 11 13 13 13 Other noninterest expense 129 110 102 118 109 Total noninterest expense 1,573 1,551 1,536 1,572 1,491 Income before income taxes 805 891 705 811 751 Income tax expense 199 219 171 231 183 Net income $ 606 $ 672 $ 534 $ 580 $ 568 Preferred stock dividends $ 29 $ 32 $ 26 $ 14 $ 14 Net income available to common stockholders $ 577 $ 640 $ 508 $ 566 $ 554 BancShares Income Statements (unaudited) ($ in millions)

35 Average Deposit Account Size and Insured by Segment ($ in billions, except average account size, period end balances) Total deposits Average size Insured % General Bank $ 81.4 $ 35,781 65 % Commercial Bank 47.2 618,595 33 Corporate 56.7 64,857 88 Total $ 185.3 $ 57,441 64 % Note – Commercial Bank includes a small amount of Rail deposits.Totals may not foot due to rounding.

36 (1) 3Q26 (1) Carrying value (2) % of Portfolio Yield (3) Duration in years AFS Portfolio U.S. Treasury $ 15,582 35 % 3.95 % 1.2 Government agency 28 — 3.11 0.3 Residential mortgage-backed securities 17,014 38 4.34 3.3 Commercial mortgage-backed securities 2,831 7 4.08 1.9 Corporate bonds 121 — 7.92 0.7 Municipal bonds 12 — 5.26 16.8 Other investments 18 — 6.33 4.6 Total AFS portfolio $ 35,606 80 % 4.17 % 2.3 HTM portfolio U.S. Treasury $ 391 1 % 1.43 % 1.1 Government agency 992 2 1.63 1.9 Residential mortgage-backed securities 4,276 10 2.70 5.3 Commercial mortgage-backed securities 3,249 7 2.19 3.0 Other investments 249 — 1.64 3.2 Total HTM portfolio $ 9,157 20 % 2.31 % 3.9 Grand total $ 44,763 100 % 3.78 % 2.5 Debt Securities Overview ($ in millions, period end balances) (1) Includes the debt securities portfolio; excludes marketable equity securities. (2) Carrying value represents fair value for AFS and amortized cost for HTM portfolios. (3) Yield represents actual accounting yield recognized during the quarter.

37 General Bank Segment ($ in millions) Note – Percent changes above are based on unrounded amounts and may not recalculate precisely using the displayed rounded amounts. (1) Non-GAAP measure: see Section V entitled Non-GAAP Reconciliations. (2) The linked quarter percent change is annualized. Increase (decrease) 3Q26 vs 2Q26 3Q26 vs 3Q25 Earnings Summary 3Q26 2Q26 1Q26 4Q25 3Q25 $ % $ % Net interest income $ 829 $ 819 $ 813 $ 841 $ 846 $ 10 1.2 % $ (17) (2.0) % Total noninterest income 184 187 172 170 166 (3) (1.6) 18 11.0 Total revenue 1,013 1,006 985 1,011 1,012 7 0.7 1 0.2 Total noninterest expense 622 601 600 604 582 21 3.7 40 7.1 Pre-provision net revenue (1) 391 405 385 407 430 (14) (3.7) (39) (9.2) Provision for credit losses 37 54 17 17 1 (17) (26.6) 36 NM Income before income taxes 354 351 368 390 429 3 0.2 (75) (18.3) Income tax expense 88 85 90 82 109 3 3.1 (21) (19.4) Net income $ 266 $ 266 $ 278 $ 308 $ 320 $ — — % $ (54) (17.9) % Period end Balances (2) Loans and leases $ 64,988 $ 64,355 $ 64,367 $ 64,958 $ 65,225 $ 633 3.9 % $ (237) (0.4) % Deposits 81,381 75,718 75,914 74,796 74,596 5,663 29.7 6,785 9.1 Other Key Metrics Number of branches 656 520 519 521 520 136 26.2 % 136 26.2 % Wealth management assets under management ($B) $ 62.5 $ 62.0 $ 59.7 $ 61.2 $ 59.9 $ 0.5 0.8 $ 2.6 4.3 Card volume 4,937 4,850 4,475 4,713 4,621 87 1.8 316 6.8 Merchant volume 1,823 1,898 1,786 1,799 1,827 (75) (4.0) (4) (0.2)

38 Increase (decrease) 3Q26 vs 2Q26 3Q26 vs 3Q25 Earnings Summary 3Q26 2Q26 1Q26 4Q25 3Q25 $ % $ % Net interest income $ 848 $ 805 $ 802 $ 834 $ 796 $ 43 5.3 % $ 52 6.5 % Rental income on operating lease equipment 51 54 55 55 54 (3) (3.5) (3) (4.4) Less: depreciation on operating lease equipment 41 43 43 44 43 (2) (3.8) (2) (5.0) Adjusted rental income on operating lease equipment (1) 10 11 12 11 11 (1) (9.1) (1) (9.1) All other noninterest income 269 270 230 241 236 (1) (0.3) 33 13.9 Noninterest income, net (1) 279 281 242 252 247 (2) (0.7) 32 13.0 Revenue 1,127 1,086 1,044 1,086 1,043 41 3.8 84 8.1 Noninterest expense, net (1) 584 586 603 612 596 (2) (0.3) (12) (2.0) Pre-provision net revenue (1) 543 500 441 474 447 43 8.6 96 21.4 Provision (benefit) for credit losses 18 (64) 55 37 190 82 128.1 (172) (90.5) Income before income taxes 525 564 386 437 257 (39) (6.9) 268 103.6 Income tax expense 131 136 95 102 64 (5) (3.9) 67 102.3 Net income $ 394 $ 428 $ 291 $ 335 $ 193 $ (34) (7.9) % $ 201 104.0 % Period end Balances (2) Loans and leases $ 92,119 $ 86,635 $ 84,263 $ 82,910 $ 79,470 $ 5,484 25.1 % $ 12,649 15.9 % Operating lease equipment, net 717 723 717 739 737 (6) (3.4) (20) (2.7) Total client funds 133,189 126,296 124,968 111,213 109,904 6,893 5.5 23,285 21.2 Off-balance sheet client funds 86,038 80,606 77,777 69,681 67,035 5,432 26.7 19,003 28.3 Deposits 47,151 45,690 47,191 41,532 42,869 1,461 12.7 4,282 10.0 Other Key Metrics Factoring volume $ 6,781 $ 5,878 $ 5,787 $ 6,547 $ 6,315 $ 903 15.4 % $ 466 7.4 % Commercial Bank Segment ($ in millions) Note – Commercial segment results do not include the accretion impact from the SVBB acquisition loans or the impact of overnight investments and debt that were added at the acquisition date (the aforementioned items are contained within Corporate). Percent changes above are based on unrounded amounts and may not recalculate precisely using the displayed rounded amounts. (1) Non-GAAP measure: see Section V entitled Non-GAAP Reconciliations. (2) The linked quarter percent change is annualized.

39 Increase (decrease) 3Q26 vs 2Q26 3Q26 vs 3Q25 Earnings Summary 3Q26 2Q26 1Q26 4Q25 3Q25 $ % $ % Net interest expense $ 60 $ 59 $ 58 $ 53 $ 55 $ 1 2.3 % $ 5 9.7 % Rental income on operating lease equipment 237 226 226 226 219 11 4.4 18 8.0 Less: depreciation on operating lease equipment 59 58 58 58 55 1 1.7 4 6.8 Less: maintenance and other operating lease expenses 66 67 65 64 67 (1) (1.0) (1) (0.4) Adjusted rental income on operating lease equipment (1) 112 101 103 104 97 11 10.9 15 15.5 All other noninterest income 2 7 9 9 2 (5) (72.3) — — Noninterest income, net (1) 114 108 112 113 99 6 5.6 15 15.2 Revenue 54 49 54 60 44 5 10.2 10 22.7 Noninterest expense, net (1) 26 24 25 22 22 2 8.3 4 18.2 Pre-provision net revenue (1) 28 25 29 38 22 3 9.5 6 23.8 Provision for credit losses — — — — — — — — — Income before income taxes 28 25 29 38 22 3 8.1 6 24.0 Income tax expense 7 6 7 9 5 1 11.3 2 20.6 Net income $ 21 $ 19 $ 22 $ 29 $ 17 $ 2 7.2 % $ 4 25.2 % Period end Balances (2) Operating lease equipment, net $ 9,048 $ 9,032 $ 8,968 $ 8,882 $ 8,709 $ 16 0.7 % $ 339 3.9 % Other Key Metrics Railcars and locomotives (3) 129,500 129,300 128,600 128,400 127,600 200 0.2 % 1,900 1.5 % Utilization 96.9 % 96.7 % 96.2 % 96.2 % 96.8 % NM 0.2 NM 0.1 Renewal rate to previous rate 104 115 118 117 118 NM (11.0) NM (14.0) Rail Segment ($ in millions) Note – Percent changes above are based on unrounded amounts and may not recalculate precisely using the displayed rounded amounts. (1) Non-GAAP measure: see Section V entitled Non-GAAP Reconciliations. (2) The linked quarter percent change is annualized. (3) Railcars and locomotives number is rounded.

40 Corporate ($ in millions) Note – Percent changes above are based on unrounded amounts and may not recalculate precisely using the displayed rounded amounts. (1) Non-GAAP measure: see Section V entitled Non-GAAP Reconciliations. (2) The linked quarter percent change is annualized. Increase (decrease) 3Q26 vs 2Q26 3Q26 vs 3Q25 Earnings Summary 3Q26 2Q26 1Q26 4Q25 3Q25 $ % $ % Net interest income $ 82 $ 91 $ 64 $ 100 $ 147 $ (9) (9.2) % $ (65) (44.1) % Total noninterest income (9) 32 — 14 22 (41) (128.5) (31) (140.8) Total revenue 73 123 64 114 169 (50) (40.4) (96) (56.9) Total noninterest expense 175 172 142 168 126 3 1.6 49 37.8 Pre-provision net revenue (1) (102) (49) (78) (54) 43 (53) (106.3) (145) (338.3) Provision for credit losses — — — — — — — — — (Loss) Income before income taxes (102) (49) (78) (54) 43 (53) (100.3) (145) (329.6) Income tax (benefit) expense (27) (8) (21) 38 5 (19) (206.2) (32) (681.8) Net (loss) income $ (75) $ (41) $ (57) $ (92) $ 38 $ (34) (77.5) % $ (113) (287.4) % Period end Balance Sheet (2) Investment securities $ 44,857 $ 43,539 $ 42,986 $ 41,564 $ 45,124 $ 1,318 12.0 % $ (267) (0.6) % Direct Bank deposits 51,428 48,222 45,408 44,802 45,146 3,206 26.4 6,282 13.9 Brokered deposits 4,647 3,325 1,831 — 134 1,322 157.7 4,513 NM

41 September 30, 2026 June 30, 2026 March 31, 2026 December 31, 2025 September 30, 2025 Loans and leases (including off-balance sheet exposure) (1) Beginning balance - unamortized fair value mark $ (1,240) $ (1,300) $ (1,351) $ (1,411) $ (1,483) Other 1 5 3 1 1 Accretion 50 55 48 59 71 Ending balance $ (1,189) $ (1,240) $ (1,300) $ (1,351) $ (1,411) Core deposits and other intangibles Beginning balance $ 171 $ 182 $ 195 $ 208 $ 221 Additions - BMO Branch Acquisition 192 — — — — Amortization (14) (11) (13) (13) (13) Ending balance $ 349 $ 171 $ 182 $ 195 $ 208 Borrowings (2) Beginning balance - unamortized fair value mark $ 47 $ 61 $ 78 $ 97 $ 107 Amortization (6) (7) (9) (10) (10) Loss on extinguishment of debt (19) (7) (8) (9) — Ending balance $ 22 $ 47 $ 61 $ 78 $ 97 Purchase accounting marks ($ in millions) Note – The summary only includes select information and is not intended to represent all purchase accounting adjustments. (1) Purchase accounting marks on loans and leases are comprised of credit, interest and liquidity components, and are generally recognized using the level-yield or straight-line method over the remaining life of the receivable or in full in the event of prepayment. (2) Purchase accounting marks on borrowings represent interest rate marks and are recognized using the level-yield method over the remaining term of the liability.

Non-GAAP Reconciliations Section V

43 Notable Items (1) ($ in millions, except per share data) 3Q26 2Q26 1Q26 4Q25 3Q25 Noninterest income (GAAP) $ 734 $ 776 $ 692 $ 715 $ 699 Noninterest income notable items: Rental income on operating lease equipment (2) (166) (168) (166) (166) (165) Realized gain on sale of investment securities, net (28) — — (3) — Fair value adjustment on marketable equity securities, net 23 (15) (3) (12) (13) Gain on sale of leasing equipment, net (7) (14) (11) (14) (3) Loss on extinguishment of debt 19 7 8 9 — Total noninterest income notable items (159) (190) (172) (186) (181) Adjusted noninterest income (non-GAAP) (a) 575 586 520 529 518 Noninterest expense (GAAP) 1,573 1,551 1,536 1,572 1,491 Noninterest expense notable items: Depreciation on operating lease equipment (2) (100) (101) (101) (102) (98) Maintenance and other operating lease expenses (2) (66) (67) (65) (64) (67) Personnel cost (3) (6) (8) (12) — (6) Professional fees (4) (4) (5) (6) — — FDIC insurance special assessment — — — 12 — Acquisition-related expenses (18) (8) (5) (33) (28) Intangible asset amortization (14) (11) (13) (13) (13) Other noninterest expense (5) (10) (5) (4) (4) — Total noninterest expense notable items (218) (205) (206) (204) (212) Adjusted noninterest expense (non-GAAP) (b) 1,355 1,346 1,330 1,368 1,279 Impact of notable items on adjusted pre-tax income (a)-(b) 59 15 34 18 31 Less: income tax impact of notable items (6) 13 (4) 8 (50) 12 Impact of notable items on adjusted net income $ 46 $ 19 $ 26 $ 68 $ 19 Impact of notable items on adjusted basic and diluted EPS $ 4.14 $ 1.57 $ 2.23 $ 5.46 $ 1.54 Weighted average common shares outstanding (basic and diluted) 11,250,519 11,535,792 11,924,899 12,363,028 12,849,339 (1) Notable items include income and expense for infrequent transactions and certain recurring items (typically noncash) that management believes should be excluded from adjusted measures (non- GAAP) to enhance understanding of operations and comparability to historical periods. Management utilizes both GAAP and adjusted measures (non-GAAP) to analyze BancShares’ performance. Refer to subsequent pages of this presentation for a reconciliation of non-GAAP measures to the most directly comparable GAAP measures. (2) Depreciation and maintenance and other operating lease expenses are deducted from rental income on operating lease equipment to calculate adjusted rental income on operating lease equipment (non-GAAP). There is no net impact to earnings for this non-GAAP item because adjusted noninterest income and expense are reduced by the same amount. Management believes adjusted rental income on operating lease equipment (non-GAAP) is meaningful because it helps management monitor the performance and profitability of the operating leases after deducting direct expenses. Refer to subsequent pages of this presentation for a reconciliation of non-GAAP measures to the most directly comparable GAAP measures. (3) Personnel cost in 3Q26, 2Q26, and 1Q26 includes severance and retention costs in connection with business optimization; 3Q25 includes impairment of internal use software under development. (4) Professional fees include costs for risk transformation and strategic enhancements to technology in 3Q26, 2Q26 and 1Q26. (5) Other noninterest expense includes certain litigation expenses in 3Q26, 2Q26 and 1Q26, impairment of internal use software under development in 3Q26, a nonrecurring earnings credit accrual in 3Q26, a write-off of other assets in 1Q26, and a technology fee in 4Q25. (6) For the periods presented, the income tax impact may include tax discrete items and changes in the estimated annualized effective tax rate.

44 Non-GAAP Reconciliations 3Q26 2Q26 1Q26 4Q25 3Q25 Net income and EPS Net income (GAAP) a $ 606 672 534 580 568 Preferred stock dividends 29 32 26 14 14 Net income available to common stockholders (GAAP) b 577 640 508 566 554 Total notable items, after income tax c 46 19 26 68 19 Adjusted net income (non-GAAP) d = (a+c) 652 691 560 648 587 Adjusted net income available to common stockholders (non-GAAP) e = (b+c) $ 623 659 534 634 573 Weighted average common shares outstanding Basic f 11,250,519 11,535,792 11,924,899 12,363,028 12,849,339 Diluted g 11,250,519 11,535,792 11,924,899 12,363,028 12,849,339 EPS (GAAP) Basic b/f $ 51.23 55.52 42.63 45.81 43.08 Diluted b/g 51.23 55.52 42.63 45.81 43.08 Adjusted EPS (non-GAAP) Basic e/f $ 55.37 57.09 44.86 51.27 44.62 Diluted e/g 55.37 57.09 44.86 51.27 44.62 Noninterest income and expense Noninterest income (GAAP) h $ 734 776 692 715 699 Impact of notable items, before income tax (159) (190) (172) (186) (181) Adjusted noninterest income (non-GAAP) i $ 575 586 520 529 518 Noninterest expense (GAAP) j $ 1,573 1,551 1,536 1,572 1,491 Impact of notable items, before income tax (218) (205) (206) (204) (212) Adjusted noninterest expense (non-GAAP) k $ 1,355 1,346 1,330 1,368 1,279 Note: Certain items above do not precisely recalculate as presented due to rounding. Non-GAAP Reconciliations ($ in millions, except share and per share data)

45 Non-GAAP Reconciliations ($ in millions) Non-GAAP Reconciliations 3Q26 2Q26 1Q26 4Q25 3Q25 PPNR Net income (GAAP) a $ 606 672 534 580 568 Plus: (benefit) provision for credit losses 55 (10) 72 54 191 Plus: income tax expense 199 219 171 231 183 PPNR (non-GAAP) l $ 860 881 777 865 942 Impact of notable items 59 15 34 18 31 Adjusted PPNR (non-GAAP) m $ 919 896 811 883 973 ROA Net income (GAAP) a $ 606 672 534 580 568 Annualized net income n = a annualized 2,403 2,699 2,164 2,303 2,254 Adjusted net income (non-GAAP) d 652 691 560 648 587 Annualized adjusted net income p = d annualized 2,588 2,771 2,272 2,571 2,332 Average assets o 240,727 235,200 233,181 233,432 230,529 ROA n/o 1.00 % 1.15 % 0.93 % 0.99 % 0.98 % Adjusted ROA (non-GAAP) p/o 1.08 1.18 0.97 1.10 1.01 PPNR ROA PPNR (non-GAAP) l $ 860 881 777 865 942 Annualized PPNR q = l annualized 3,409 3,536 3,152 3,430 3,738 Adjusted PPNR (non-GAAP) m 919 896 811 883 973 Annualized adjusted PPNR r = m annualized 3,646 3,595 3,288 3,504 3,860 PPNR ROA (non-GAAP) q/o 1.42 % 1.50 % 1.35 % 1.47 % 1.62 % Adjusted PPNR ROA (non-GAAP) r/o 1.51 1.53 1.41 1.50 1.67 Note: Certain items above do not precisely recalculate as presented due to rounding.

46 Non-GAAP Reconciliations ($ in millions) Non-GAAP Reconciliations 3Q26 2Q26 1Q26 4Q25 3Q25 ROE and ROTCE Annualized net income available to common stockholders s = b annualized $ 2,287 2,569 2,062 2,247 2,196 Annualized adjusted net income available to common stockholders t = e annualized $ 2,471 2,642 2,170 2,515 2,275 Average stockholders' equity (GAAP) $ 22,004 22,180 22,487 22,197 22,291 Less: average preferred stock 1,819 1,765 1,613 1,117 881 Average common stockholders' equity u $ 20,185 20,415 20,874 21,080 21,410 Less: average goodwill 367 346 346 346 346 Less: average other intangible assets 224 179 191 204 216 Average tangible common equity (non-GAAP) v $ 19,594 19,890 20,337 20,530 20,848 ROE s/u 11.33 % 12.58 % 9.88 % 10.66 % 10.26 % Adjusted ROE (non-GAAP) t/u 12.24 12.94 10.39 11.93 10.62 ROTCE (non-GAAP) s/v 11.67 12.92 10.14 10.94 10.53 Adjusted ROTCE (non-GAAP) t/v 12.61 13.28 10.67 12.25 10.91 Tangible common equity to tangible assets Stockholders' equity (GAAP) w $ 21,577 21,900 22,048 22,238 21,986 Less: preferred stock 2,061 1,765 1,765 1,375 881 Common equity x $ 19,516 20,135 20,283 20,863 21,105 Less: goodwill y 418 346 346 346 346 Less: other intangible assets z 349 171 182 195 208 Tangible common equity (non-GAAP) aa $ 18,749 19,618 19,755 20,322 20,551 Total assets (GAAP) bb $ 241,182 236,842 235,959 229,698 233,488 Tangible assets (non-GAAP) cc = bb - (y + z) 240,415 236,325 235,431 229,157 232,934 Total equity to total assets (GAAP) w/bb 8.95 % 9.25 % 9.34 % 9.68 % 9.42 % Tangible common equity to tangible assets (non-GAAP) aa/cc 7.80 8.30 8.39 8.87 8.82 Note: Certain items above do not precisely recalculate as presented due to rounding.

47 Non-GAAP Reconciliations ($ in millions, except share and per share data) Non-GAAP Reconciliations 3Q26 2Q26 1Q26 4Q25 3Q25 Book value and tangible book value per common share Common shares outstanding at period end dd 11,111,579 11,390,407 11,689,314 12,139,159 12,618,629 Book value per share x/dd $ 1,756.40 1,767.79 1,735.18 1,718.71 1,672.54 Tangible book value per common share (non-GAAP) aa/dd 1,687.41 1,722.35 1,689.96 1,674.11 1,628.64 Efficiency ratio Net interest income ee $ 1,699 1,656 1,621 1,722 1,734 Efficiency ratio (GAAP) j / (h + ee) 64.68 % 63.75 % 66.41 % 64.53 % 61.27 % Adjusted efficiency ratio (non-GAAP) k / (i + ee) 59.59 60.05 62.13 60.79 56.78 Rental income on operating lease equipment Rental income on operating lease equipment (GAAP) $ 288 280 281 281 273 Less: depreciation on operating lease equipment 100 101 101 102 98 Less: maintenance and other operating lease expenses 66 67 65 64 67 Adjusted rental income on operating lease equipment (non-GAAP) $ 122 112 115 115 108 Rental income on operating lease equipment: Commercial Bank Segment Rental income on operating lease equipment (GAAP) $ 51 54 55 55 54 Less: depreciation on operating lease equipment 41 43 43 44 43 Less: maintenance and other operating lease expenses — — — — — Adjusted rental income on operating lease equipment (non-GAAP) $ 10 11 12 11 11 Rental income on operating lease equipment: Rail Segment Rental income on operating lease equipment (GAAP) $ 237 226 226 226 219 Less: depreciation on operating lease equipment 59 58 58 58 55 Less: maintenance and other operating lease expenses 66 67 65 64 67 Adjusted rental income on operating lease equipment (non-GAAP) $ 112 101 103 104 97 Note: Certain items above do not precisely recalculate as presented due to rounding.

48 Non-GAAP Reconciliations ($ in millions) Non-GAAP Reconciliations 3Q26 2Q26 1Q26 4Q25 3Q25 Noninterest Income and Noninterest Expense: Commercial Bank Segment Noninterest income (GAAP) $ 320 324 285 296 290 Less: depreciation on operating lease equipment 41 43 43 44 43 Noninterest income, net (non-GAAP) $ 279 281 242 252 247 Noninterest expense (GAAP) $ 625 629 646 656 639 Less: depreciation on operating lease equipment 41 43 43 44 43 Noninterest expense, net (non-GAAP) $ 584 586 603 612 596 Noninterest Income and Noninterest Expense: Rail Segment Noninterest income (GAAP) $ 239 233 235 235 221 Less: depreciation on operating lease equipment 59 58 58 58 55 Less: maintenance and other operating lease expenses 66 67 65 64 67 Noninterest income, net (non-GAAP) $ 114 108 112 113 99 Noninterest expense (GAAP) $ 151 149 148 144 144 Less: depreciation on operating lease equipment 59 58 58 58 55 Less: maintenance and other operating lease expenses 66 67 65 64 67 Noninterest expense, net (non-GAAP) $ 26 24 25 22 22 Note: Certain items above do not precisely recalculate as presented due to rounding.

49 Non-GAAP Reconciliations ($ in millions) Non-GAAP Reconciliations 3Q26 2Q26 1Q26 4Q25 3Q25 PPNR: General Bank Segment Segment net income (GAAP) $ 266 266 278 308 320 Plus: provision for credit losses 37 54 17 17 1 Plus: income tax expense 88 85 90 82 109 PPNR (non-GAAP) $ 391 405 385 407 430 PPNR: Commercial Bank Segment Segment net income (GAAP) $ 394 428 291 335 193 Plus: (benefit) provision for credit losses 18 (64) 55 37 190 Plus: income tax expense 131 136 95 102 64 PPNR (non-GAAP) $ 543 500 441 474 447 PPNR: Rail Segment Segment net income (GAAP) $ 21 19 22 29 17 Plus: income tax expense 7 6 7 9 5 PPNR (non-GAAP) $ 28 25 29 38 22 PPNR: Corporate Net income (GAAP) $ (75) (41) (57) (92) 38 Plus: income tax expense (benefit) (27) (8) (21) 38 5 PPNR (non-GAAP) $ (102) (49) (78) (54) 43

50 Non-GAAP Reconciliations ($ in millions) Non-GAAP Reconciliations 3Q26 2Q26 1Q26 4Q25 3Q25 Net interest income & Net interest margin Net interest income (GAAP) ee $ 1,699 1,656 1,621 1,722 1,734 Loan PAA ff 50 55 48 59 71 Other PAA gg (6) (7) (9) (10) (10) PAA hh = (ff + gg) $ 44 48 39 49 61 Net interest income, excluding PAA (non-GAAP) ii = (ee - hh) $ 1,655 1,608 1,582 1,673 1,673 Annualized net interest income jj = ee annualized $ 6,740 6,642 6,575 6,834 6,878 Annualized net interest income, excluding PAA kk = ii annualized 6,565 6,451 6,416 6,640 6,637 Average interest-earning assets ll 219,732 213,990 212,552 213,294 211,042 NIM (GAAP) jj/ll 3.07 % 3.10 % 3.09 % 3.20 % 3.26 % NIM, excluding PAA (non-GAAP) kk/ll 2.99 3.01 3.01 3.11 3.15 Interest income on loans (GAAP) $ 2,341 2,253 2,206 2,290 2,300 Less: loan PAA ff 50 55 48 59 71 Interest income on loans, excluding loan PAA (non-GAAP) $ 2,291 2,198 2,158 2,231 2,229 Capital Ratios Risk-weighted assets mm $ 191,248 Common equity Tier 1 (GAAP) rr 19,584 Impact from AOCI (loss) (796) Common equity Tier 1 including impact of AOCI (non-GAAP) ss 18,788 Common equity Tier 1 ratio (GAAP) rr/mm 10.24 Common equity Tier 1 ratio including impact of AOCI (non-GAAP) ss/mm 9.82 % Note: Certain items above do not precisely recalculate as presented due to rounding.

Financial Supplement First Citizens BancShares, Inc. September 30, 2026

Summary Financial Data and Metrics


dollars in millions, except per share data	Three Months Ended															Increase (Decrease) From LQ (4)				Nine Months Ended						Increase (Decrease) From PYTD
	September 30, 2026			June 30, 2026			March 31, 2026			December 31, 2025			September 30, 2025							September 30, 2026			September 30, 2025
Results of Operations:
Net interest income	$	1,699		$	1,656		$	1,621		$	1,722		$	1,734		$	43	2.6	%	$	4,976		$	5,092		$	(116)	(2.3)	%
Provision (benefit) for credit losses	55			(10)			72			54			191			65		650.2		117			460			(343)		(74.6)
Net interest income after provision for credit losses	1,644			1,666			1,549			1,668			1,543			(22)		(1.3)		4,859			4,632			227		4.9
Noninterest income	734			776			692			715			699			(42)		(5.4)		2,202			2,012			190		9.5
Noninterest expense	1,573			1,551			1,536			1,572			1,491			22		1.5		4,660			4,484			176		3.9
Income before income taxes	805			891			705			811			751			(86)		(9.8)		2,401			2,160			241		11.2
Income tax expense	199			219			171			231			183			(20)		(9.1)		589			534			55		10.2
Net income	606			672			534			580			568			(66)		(10.0)		1,812			1,626			186		11.5
Preferred stock dividends	29			32			26			14			14			(3)		(8.9)		87			43			44		100.3
Net income available to common stockholders	$	577		$	640		$	508		$	566		$	554		$	(63)	(10.0)	%	$	1,725		$	1,583		$	142	9.0	%
Adjusted net income available to common stockholders (1)	$	623		$	659		$	534		$	634		$	573		$	(36)	(5.4)	%	$	1,816		$	1,679		$	137	8.2	%
Pre-tax, pre-provision net revenue (PPNR) (1)	860			881			777			865			942			(21)		(2.5)		2,518			2,620			(102)		(3.9)
Adjusted PPNR (1)	919			896			811			883			973			23		2.5		2,626			2,767			(141)		(5.1)
Per Share Information:
Diluted earnings per common share (EPS)	$	51.23		$	55.52		$	42.63		$	45.81		$	43.08		$	(4.29)	(7.7)	%	$	149.14		$	119.70		$	29.44	24.6	%
Adjusted diluted EPS (1)	55.37			57.09			44.86			51.27			44.62			(1.72)		(3.0)		157.02			127.03			29.99		23.6
Book value per common share at period end	1,756.40			1,767.79			1,735.18			1,718.71			1,672.54			(11.39)		(0.6)
Tangible book value per common share (TBV) (1) at period end	1,687.41			1,722.35			1,689.96			1,674.11			1,628.64			(34.94)		(2.0)
Key Performance Metrics:
Return on average assets (ROA)	1.00		%	1.15		%	0.93		%	0.99		%	0.98		%	(15)		bps (5)		1.02		%	0.95		%	7		bps
Adjusted ROA (1)	1.08			1.18			0.97			1.10			1.01			(10)				1.08			1.01			7
PPNR ROA (1)	1.42			1.50			1.35			1.47			1.62			(8)				1.42			1.54			(12)
Adjusted PPNR ROA (1)	1.51			1.53			1.41			1.50			1.67			(2)				1.49			1.62			(13)
Return on average common equity (ROE)	11.33			12.58			9.88			10.66			10.26			(125)				11.26			9.82			144
Adjusted ROE (1)	12.24			12.94			10.39			11.93			10.62			(70)				11.85			10.43			142
Return on average tangible common equity (ROTCE) (1)	11.67			12.92			10.14			10.94			10.53			(125)				11.57			10.09			148
Adjusted ROTCE (1)	12.61			13.28			10.67			12.25			10.91			(67)				12.18			10.71			147
Efficiency ratio	64.68			63.75			66.41			64.53			61.27			93				64.92			63.12			180
Adjusted efficiency ratio (1)	59.59			60.05			62.13			60.79			56.78			(46)				60.56			58.08			248
Net interest margin (NIM) (2)	3.07			3.10			3.09			3.20			3.26			(3)				3.09			3.26			(17)
NIM, excluding purchase accounting accretion (PAA) (1) (2)	2.99			3.01			3.01			3.11			3.15			(2)				3.00			3.13			(13)
Select Balance Sheet Items at Period End:
Total investment securities	$	44,875		$	43,557		$	42,986		$	41,564		$	45,124		$	1,318	3.00	%
Total loans and leases	157,190			151,034			148,692			147,930			144,758			6,156		4.10
Total operating lease equipment, net	9,765			9,755			9,685			9,621			9,446			10		0.10
Total deposits	185,264			173,427			170,842			161,578			163,190			11,837		6.80
Total borrowings	24,470			32,188			33,962			36,008			38,675			(7,718)		(24.00)
Loan to deposit ratio	84.85		%	87.09		%	87.04		%	91.55		%	88.71		%	(224)		bps
Noninterest-bearing deposits to total deposits	22.89			24.49			25.52			25.16			26.20			(160)
Capital Ratios at Period End: (3)
Total risk-based capital ratio	12.90		%	13.37		%	13.51		%	13.71		%	14.05		%	(47)		bps
Tier 1 risk-based capital ratio	11.32			11.73			11.79			11.91			12.15			(41)
Common equity Tier 1 ratio	10.24			10.77			10.83			11.15			11.65			(53)
Tier 1 leverage capital ratio	9.00			9.22			9.30			9.29			9.34			(22)
Asset Quality at Period End:
Nonaccrual loans to total loans and leases	0.87		%	0.96		%	0.96		%	0.88		%	0.97		%	(9)		bps
Allowance for loan and lease losses (ALLL) to loans and leases	0.91			0.98			1.05			1.06			1.14			(7)
Net charge-off ratio for the period	0.27			0.29			0.30			0.39			0.65			(2)				0.28			0.47			(19)		bps

(1) Denotes a non-GAAP measure. Refer to the non-GAAP reconciliation tables included at the end of this financial supplement for a reconciliation to the most directly comparable GAAP measure. “Adjusted” items exclude the impacts of Notable Items.
(2) Calculated net of average credit balances of factoring clients to appropriately reflect the interest-earning portion of factoring receivables.
(3) Capital ratios as of the current quarter-end are preliminary pending completion of quarterly regulatory filings.
(4) Linked quarter
(5) Basis points
Note: Percent changes within this financial supplement are based on unrounded amounts and may not recalculate precisely using the displayed rounded amounts.

Consolidated Balance Sheets (Unaudited)


dollars in millions, except share data	September 30, 2026		June 30, 2026		March 31, 2026		December 31, 2025		September 30, 2025		Increase (Decrease) From LQ
Assets
Cash and due from banks	$	981	$	1,519	$	1,080	$	801	$	874	$	(538)	(35.5)	%
Interest-earning deposits at banks	18,290		21,132		23,189		19,801		24,798		(2,842)		(13.4)
Securities purchased under agreements to resell	197		737		223		232		83		(540)		(73.3)
Investment in marketable equity securities	112		156		130		127		110		(44)		(28.5)
Investment securities available for sale	35,606		33,983		33,314		31,790		34,963		1,623		4.8
Investment securities held to maturity	9,157		9,418		9,542		9,647		10,051		(261)		(2.8)
Assets held for sale	142		93		1,122		804		112		49		52.3
Loans and leases	157,190		151,034		148,692		147,930		144,758		6,156		4.1
Allowance for loan and lease losses	(1,436)		(1,484)		(1,558)		(1,566)		(1,652)		(48)		(3.2)
Loans and leases, net of allowance for loan and lease losses	155,754		149,550		147,134		146,364		143,106		6,204		4.1
Operating lease equipment, net	9,765		9,755		9,685		9,621		9,446		10		0.1
Premises and equipment, net	2,751		2,523		2,499		2,447		2,283		228		9.0
Goodwill	418		346		346		346		346		72		20.7
Other intangible assets, net	349		171		182		195		208		178		103.5
Other assets	7,660		7,459		7,513		7,523		7,108		201		2.7
Total assets	$	241,182	$	236,842	$	235,959	$	229,698	$	233,488	$	4,340	1.8	%
Liabilities
Deposits:
Noninterest-bearing	$	42,402	$	42,475	$	43,606	$	40,653	$	42,752	$	(73)	(0.2)	%
Interest-bearing	142,862		130,952		127,236		120,925		120,438		11,910		9.1
Total deposits	185,264		173,427		170,842		161,578		163,190		11,837		6.8
Credit balances of factoring clients	1,578		1,339		1,284		1,148		1,326		239		17.9
Borrowings:


Short-term borrowings	116		152		170		224		423		(36)		(23.9)




Long-term borrowings	24,354		32,036		33,792		35,784		38,252		(7,682)		(24.0)
Total borrowings	24,470		32,188		33,962		36,008		38,675		(7,718)		(24.0)
Other liabilities	8,293		7,988		7,823		8,726		8,311		305		3.8
Total liabilities	219,605		214,942		213,911		207,460		211,502		4,663		2.2
Stockholders’ equity
Preferred stock	2,061		1,765		1,765		1,375		881		296		16.8
Common stock:
Class A - $1 par value	10		10		11		11		12		—		—
Class B - $1 par value	1		1		1		1		1		—		—
Additional paid in capital	—		—		—		—		270		—		—
Retained earnings	20,301		20,354		20,343		20,768		20,866		(53)		(0.3)
Accumulated other comprehensive (loss) income	(796)		(230)		(72)		83		(44)		(566)		(246.5)
Total stockholders’ equity	21,577		21,900		22,048		22,238		21,986		(323)		(1.5)
Total liabilities and stockholders’ equity	$	241,182	$	236,842	$	235,959	$	229,698	$	233,488	$	4,340	1.8	%

Consolidated Statements of Income (Unaudited)


	Three Months Ended										Increase (Decrease) From LQ				Nine Months Ended				Increase (Decrease) From PYTD
dollars in millions, except share and per share data	September 30, 2026		June 30, 2026		March 31, 2026		December 31, 2025		September 30, 2025						September 30, 2026		September 30, 2025
Interest income
Loans and leases	$	2,341	$	2,253	$	2,206	$	2,290	$	2,300	$	88	3.9	%	$	6,800	$	6,806	$	(6)	(0.1)	%
Investment securities	427		401		384		424		433		26		6.2		1,212		1,266		(54)		(4.2)
Deposits at banks	197		197		196		226		265		—		—		590		766		(176)		(23.0)
Total interest income	2,965		2,851		2,786		2,940		2,998		114		4.0		8,602		8,838		(236)		(2.7)
Interest expense
Deposits	971		881		833		861		911		90		10.2		2,685		2,698		(13)		(0.5)
Borrowings	295		314		332		357		353		(19)		(6.1)		941		1,048		(107)		(10.2)
Total interest expense	1,266		1,195		1,165		1,218		1,264		71		5.9		3,626		3,746		(120)		(3.2)
Net interest income	1,699		1,656		1,621		1,722		1,734		43		2.6		4,976		5,092		(116)		(2.3)
Provision (benefit) for credit losses	55		(10)		72		54		191		65		650.2		117		460		(343)		(74.6)
Net interest income after provision for credit losses	1,644		1,666		1,549		1,668		1,543		(22)		(1.3)		4,859		4,632		227		4.9
Noninterest income
Rental income on operating lease equipment	288		280		281		281		273		8		2.9		849		815		34		4.2
Lending-related fees	83		73		69		64		67		10		14.6		225		202		23		10.9
Deposit fees and service charges	76		74		70		63		61		2		3.8		220		178		42		23.7
Client investment fees	68		59		53		54		58		9		13.1		180		163		17		10.9
Wealth management services	62		62		59		61		57		—		—		183		168		15		8.9
International fees	34		36		35		37		34		(2)		(2.1)		105		99		6		6.4
Factoring commissions	20		18		17		20		18		2		10.1		55		53		2		4.6
Cardholder services, net	40		38		38		37		39		2		4.7		116		121		(5)		(3.5)
Merchant services, net	12		13		13		13		12		(1)		(2.8)		38		39		(1)		0.1
Insurance commissions	12		13		13		12		13		(1)		(10.8)		38		41		(3)		(8.4)
Realized gain on sale of investment securities, net	28		—		—		3		—		28		NM		28		—		28		NM
Fair value adjustment on marketable equity securities, net	(23)		15		3		12		13		(38)		(257.2)		(5)		10		(15)		(151.2)
Gain on sale of leasing equipment, net	7		14		11		14		3		(7)		(48.1)		32		16		16		105.4

Loss on extinguishment of debt	(19)		(7)		(8)		(9)		—		(12)		(173.4)		(34)		—		(34)		NM
Other noninterest income	46		88		38		53		51		(42)		(49.4)		172		107		65		60.4
Total noninterest income	734		776		692		715		699		(42)		(5.4)		2,202		2,012		190		9.5
Noninterest expense
Depreciation on operating lease equipment	100		101		101		102		98		(1)		(0.6)		302		296		6		1.9
Maintenance and other operating lease expenses	66		67		65		64		67		(1)		(1.1)		198		180		18		10.2
Personnel cost	842		844		869		849		817		(2)		(0.3)		2,555		2,445		110		4.5
Net occupancy expense	64		59		60		61		58		5		6.4		183		177		6		3.4
Equipment expense	133		141		136		151		137		(8)		(5.4)		410		404		6		1.6
Professional fees	18		26		24		34		26		(8)		(28.8)		68		81		(13)		(16.9)
Third-party processing fees	112		100		93		75		67		12		13.1		305		193		112		57.6
FDIC insurance expense	37		39		38		27		38		(2)		(2.6)		114		114		—		—
Marketing expense	40		45		30		45		33		(5)		(10.2)		115		97		18		19.2
Acquisition-related expenses	18		8		5		33		28		10		110.8		31		108		(77)		(71.1)
Intangible asset amortization	14		11		13		13		13		3		32.3		38		41		(3)		(7.2)
Other noninterest expense	129		110		102		118		109		19		16.2		341		348		(7)		(2.1)
Total noninterest expense	1,573		1,551		1,536		1,572		1,491		22		1.5		4,660		4,484		176		3.9
Income before income taxes	805		891		705		811		751		(86)		(9.8)		2,401		2,160		241		11.2
Income tax expense	199		219		171		231		183		(20)		(9.1)		589		534		55		10.2
Net income	$	606	$	672	$	534	$	580	$	568	$	(66)	(10.0)	%	$	1,812	$	1,626	$	186	11.5	%
Preferred stock dividends	29		32		26		14		14		(3)		(8.9)		87		43		44		100.3
Net income available to common stockholders	$	577	$	640	$	508	$	566	$	554	$	(63)	(10.0)	%	$	1,725	$	1,583	$	142	9.0	%

Basic and diluted earnings per common share	$	51.23	$	55.52	$	42.63	$	45.81	$	43.08	$	(4.29)	(7.7)	%	$	149.14	$	119.70	$	29.44	24.6	%

Weighted average common shares outstanding (basic and diluted)	11,250,519		11,535,792		11,924,899		12,363,028		12,849,339		(285,273)		(2.5)		11,567,933		13,217,940		(1,650,007)		(12.5)

Notable Items (1)



dollars in millions, except share and per share data	Three Months Ended										Increase (Decrease) From LQ		Nine Months Ended					Increase (Decrease) From PYTD
	September 30, 2026		June 30, 2026		March 31, 2026		December 31, 2025		September 30, 2025				September 30, 2026	September 30, 2025

Noninterest income (GAAP)	$	734	$	776	$	692	$	715	$	699	$	(42)		$	2,202	$	2,012		$	190
Noninterest income notable items:
Rental income on operating lease equipment (2)	(166)		(168)		(166)		(166)		(165)		2			(500)		(476)			(24)
Realized gain on sale of investment securities, net	(28)		—		—		(3)		—		(28)			(28)		—			(28)
Fair value adjustment on marketable equity securities, net	23		(15)		(3)		(12)		(13)		38			5		(10)			15
Gain on sale of leasing equipment, net	(7)		(14)		(11)		(14)		(3)		7			(32)		(16)			(16)

Loss on extinguishment of debt	19		7		8		9		—		12			34		—			34

Total noninterest income notable items	(159)		(190)		(172)		(186)		(181)		31			(521)		(502)			(19)
Adjusted noninterest income (non-GAAP) (a)	575		586		520		529		518		(11)			1,681		1,510			171

Noninterest expense (GAAP)	1,573		1,551		1,536		1,572		1,491		22			4,660		4,484			176
Noninterest expense notable items:
Depreciation on operating lease equipment (2)	(100)		(101)		(101)		(102)		(98)		1			(302)		(296)			(6)
Maintenance and other operating lease equipment expense (2)	(66)		(67)		(65)		(64)		(67)		1			(198)		(180)			(18)
Personnel cost (3)	(6)		(8)		(12)		—		(6)		2			(26)		(6)			(20)
Professional fees (4)	(4)		(5)		(6)		—		—		1			(15)		—			(15)
FDIC insurance special assessment	—		—		—		12		—		—			—		—			—
Acquisition-related expenses	(18)		(8)		(5)		(33)		(28)		(10)			(31)		(108)			77
Intangible asset amortization	(14)		(11)		(13)		(13)		(13)		(3)			(38)		(41)			3
Other noninterest expense (5)	(10)		(5)		(4)		(4)		—		(5)			(19)		(18)			(1)
Total noninterest expense notable items	(218)		(205)		(206)		(204)		(212)		(13)			(629)		(649)			20
Adjusted noninterest expense (non-GAAP) (b)	1,355		1,346		1,330		1,368		1,279		9			4,031		3,835			196

Impact of notable items on adjusted pre-tax income (a)-(b)	59		15		34		18		31		44			108		147			(39)
Less: income tax impact of notable items (6)	13		(4)		8		(50)		12		17			17		51			(34)
Impact of notable items on adjusted net income	$	46	$	19	$	26	$	68	$	19	$	27		$	91	$	96		$	(5)

Impact of notable items on adjusted basic and diluted EPS	$	4.14	$	1.57	$	2.23	$	5.46	$	1.54	$	2.57		$	7.88	$	7.33		$	0.55
Weighted average common shares outstanding (basic and diluted)	11,250,519		11,535,792		11,924,899		12,363,028		12,849,339		(285,273)			11,567,933		13,217,940			(1,650,007)

(1) Notable items include income and expense for infrequent transactions and certain recurring items (typically noncash) that management believes should be excluded from adjusted measures (non-GAAP) to enhance understanding of operations and comparability to historical periods. Management utilizes both GAAP and adjusted measures (non-GAAP) to analyze BancShares’ performance. Refer to subsequent pages of this financial supplement for a reconciliation of non-GAAP measures to the most directly comparable GAAP measures.

(2) Depreciation and maintenance and other operating lease expenses are deducted from rental income on operating lease equipment to calculate adjusted rental income on operating lease equipment (non-GAAP). There is no net impact to earnings for this non-GAAP item because adjusted noninterest income and expense are reduced by the same amount. Management believes adjusted rental income on operating lease equipment (non-GAAP) is meaningful because it helps management monitor the performance and profitability of the operating leases after deducting direct expenses. Refer to subsequent pages of this financial supplement for a reconciliation of non-GAAP measures to the most directly comparable GAAP measures.

(3) Personnel cost in 3Q26, 2Q26, and 1Q26 includes severance and retention costs in connection with business optimization; 3Q25 includes impairment of internal use software under development.

(4) Professional fees include costs for risk transformation and strategic enhancements to technology in 3Q26, 2Q26, and 1Q26.

(5) Other noninterest expense includes certain litigation expenses in 3Q26, 2Q26, and 1Q26, impairment of internal use software under development in 3Q26, a nonrecurring earnings credit accrual in 3Q26, a write-off of other assets in 1Q26, and a technology fee in 4Q25.

(6) For the periods presented, the income tax impact may include tax discrete items and changes in the estimated annualized effective tax rate.

Average Balance Sheets


	Three Months Ended										Increase (Decrease) From LQ				Nine Months Ended				Increase (Decrease) From PYTD
dollars in millions	September 30, 2026		June 30, 2026		March 31, 2026		December 31, 2025		September 30, 2025						September 30, 2026		September 30, 2025
Loans and leases (1) (2)	$	153,107	$	149,275	$	148,666	$	145,689	$	141,785	$	3,832	2.6	%	$	150,366	$	140,668	$	9,698	6.9	%
Investment securities	44,732		42,891		41,757		44,306		44,827		1,841		4.3		43,138		44,110		(972)		(2.2)
Securities purchased under agreements to resell	355		323		305		285		284		32		9.9		327		268		59		22.4
Interest-earning deposits at banks	21,538		21,501		21,824		23,014		24,146		37		0.2		21,620		23,386		(1,766)		(7.6)
Total interest-earning assets (2)	$	219,732	$	213,990	$	212,552	$	213,294	$	211,042	$	5,742	2.7	%	$	215,451	$	208,432	$	7,019	3.4	%

Operating lease equipment, net	$	9,785	$	9,728	$	9,660	$	9,495	$	9,463	$	57	0.6	%	$	9,724	$	9,412	$	312	3.3	%
Cash and due from banks	749		1,161		921		847		757		(412)		(35.5)		943		785		158		20.2
Allowance for loan and lease losses	(1,510)		(1,579)		(1,587)		(1,649)		(1,702)		69		4.4		(1,558)		(1,707)		149		8.7
All other noninterest-earning assets	11,971		11,900		11,635		11,445		10,969		71		0.6		11,837		10,940		897		8.2
Total assets	$	240,727	$	235,200	$	233,181	$	233,432	$	230,529	$	5,527	2.3	%	$	236,397	$	227,862	$	8,535	3.7	%
Interest-bearing deposits
Checking with interest	$	27,175	$	26,146	$	25,341	$	23,907	$	23,028	$	1,029	3.9	%	$	26,227	$	23,292	$	2,935	12.6	%
Money market	41,214		40,889		41,196		39,792		39,396		325		0.8		41,100		38,055		3,045		8.0
Savings	51,872		48,357		46,720		46,618		47,005		3,515		7.3		49,002		45,707		3,295		7.2
Time deposits	16,511		13,993		11,946		11,116		11,146		2,518		18.0		14,167		11,752		2,415		20.5
Total interest-bearing deposits	136,772		129,385		125,203		121,433		120,575		7,387		5.7		130,496		118,806		11,690		9.8
Borrowings:
Securities sold under customer repurchase agreements	$	145	$	162	$	197	$	265	$	442	$	(17)	(10.7)	%	168		447		(279)		(62.4)	%



Senior unsecured borrowings	2,031		1,136		718		556		555		895		78.8		1,300		428		872		203.8
Subordinated debt	1,729		1,755		1,771		1,774		1,350		(26)		(1.5)		1,751		1,262		489		38.8
Other borrowings	26,717		30,176		32,648		35,601		35,911		(3,459)		(11.5)		29,825		35,878		(6,053)		(16.9)
Long-term borrowings	30,477		33,067		35,137		37,931		37,816		(2,590)		(7.8)		32,876		37,568		(4,692)		(12.5)
Total borrowings	30,622		33,229		35,334		38,196		38,258		(2,607)		(7.8)		33,044		38,015		(4,971)		(13.1)
Total interest-bearing liabilities	$	167,394	$	162,614	$	160,537	$	159,629	$	158,833	$	4,780	2.9	%	$	163,540	$	156,821	$	6,719	4.3	%

Noninterest-bearing deposits	$	41,910	$	41,254	$	40,724	$	41,758	$	40,049	$	656	1.6	%	$	41,300	$	39,431	$	1,869	4.7	%
Credit balances of factoring clients	1,482		1,327		1,224		1,358		1,175		155		11.7		1,345		1,141		204		17.9
Other noninterest-bearing liabilities	7,937		7,825		8,209		8,490		8,181		112		1.4		7,990		8,058		(68)		(0.8)
Stockholders' equity	22,004		22,180		22,487		22,197		22,291		(176)		(0.8)		22,222		22,411		(189)		(0.8)
Total liabilities and stockholders’ equity	$	240,727	$	235,200	$	233,181	$	233,432	$	230,529	$	5,527	2.3	%	$	236,397	$	227,862	$	8,535	3.7	%






(1) Loans and leases include nonaccrual loans and loans held for sale. Interest income on loans and leases includes loan PAA income and loan fees.
(2) The average balances and yields for loans and leases are calculated net of average credit balances of factoring clients to appropriately reflect the interest-earning portion of factoring receivables.
Note: Certain items above do not precisely recalculate as presented due to rounding.

Net Interest Income


	Three Months Ended										Increase (Decrease) From LQ				Nine Months Ended				Increase (Decrease) From PYTD
dollars in millions	September 30, 2026		June 30, 2026		March 31, 2026		December 31, 2025		September 30, 2025						September 30, 2026		September 30, 2025
Loans and leases (1) (2)	$	2,341	$	2,253	$	2,206	$	2,290	$	2,300	$	88	3.9	%	$	6,800	$	6,806	$	(6)	(0.1)	%
Investment securities	423		398		382		421		430		25		6.2		1,203		1,257		(54)		(4.3)
Securities purchased under agreements to resell	4		3		2		3		3		1		12.8		9		9		—		—
Interest-earning deposits at banks	197		197		196		226		265		—		—		590		766		(176)		(23.0)
Total interest-earning assets (2)	$	2,965	$	2,851	$	2,786	$	2,940	$	2,998	$	114	4.0	%	$	8,602	$	8,838	$	(236)	(2.7)	%






Interest-bearing deposits
Checking with interest	$	113	$	104	$	95	$	94	$	99	$	9	9.3	%	$	312	$	300	$	12	4.4	%
Money market	250		240		242		260		280		10		4.1		732		806		(74)		(9.3)
Savings	461		420		398		412		435		41		9.6		1,279		1,280		(1)		(0.1)
Time deposits	147		117		98		95		97		30		26.0		362		312		50		16.0
Total interest-bearing deposits	971		881		833		861		911		90		10.2		2,685		2,698		(13)		(0.5)
Borrowings:
Securities sold under customer repurchase agreements	—		—		—		—		1		—		—		—		2		(2)		(100.0)



Senior unsecured borrowings	27		14		10		7		7		13		85.0		51		17		34		204.9
Subordinated debt	23		24		23		24		17		(1)		1.5		70		44		26		58.0
Other borrowings	245		276		299		326		328		(31)		(11.5)		820		985		(165)		(16.8)
Long-term borrowings	295		314		332		357		352		(19)		(6.1)		941		1,046		(105)		(10.1)
Total borrowings	295		314		332		357		353		(19)		(6.1)		941		1,048		(107)		(10.2)
Total interest-bearing liabilities	$	1,266	$	1,195	$	1,165	$	1,218	$	1,264	$	71	5.9	%	$	3,626	$	3,746	$	(120)	(3.2)	%







Net interest income	$	1,699	$	1,656	$	1,621	$	1,722	$	1,734	$	43	2.6	%	$	4,976	$	5,092	$	(116)	(2.3)	%




(1) Loans and leases include nonaccrual loans and loans held for sale. Interest income on loans and leases includes loan PAA income and loan fees.
(2) The average balances and yields for loans and leases are calculated net of average credit balances of factoring clients to appropriately reflect the interest-earning portion of factoring receivables.
Note: Certain items above do not precisely recalculate as presented due to rounding.

Yields, Rates, Net Interest Margin, and Deposits by Type


	Three Months Ended										Increase (Decrease) From LQ in bps	Nine Months Ended				Increase (Decrease) From PYTD in bps
	September 30, 2026		June 30, 2026		March 31, 2026		December 31, 2025		September 30, 2025			September 30, 2026		September 30, 2025
Loans and leases (1) (2)	6.07	%	6.05	%	6.01	%	6.24	%	6.44	%	2	6.04	%	6.46	%	(42)
Investment securities	3.77		3.72		3.67		3.80		3.83		5	3.72		3.80		(8)
Securities purchased under agreements to resell	3.66		3.60		3.65		4.00		4.32		6	3.64		4.34		(70)
Interest-earning deposits at banks	3.64		3.67		3.64		3.90		4.36		(3)	3.65		4.38		(73)
Total interest-earning assets (2)	5.36	%	5.34	%	5.30	%	5.48	%	5.64	%	2	5.33	%	5.66	%	(33)






Interest-bearing deposits
Checking with interest	1.66	%	1.60	%	1.52	%	1.57	%	1.70	%	6	1.59	%	1.72	%	(13)
Money market	2.40		2.35		2.38		2.59		2.82		5	2.38		2.83		(45)
Savings	3.52		3.48		3.46		3.51		3.66		4	3.49		3.74		(25)
Time deposits	3.54		3.36		3.31		3.38		3.45		18	3.42		3.55		(13)
Total interest-bearing deposits	2.82		2.73		2.70		2.81		3.00		9	2.75		3.04		(29)
Borrowings:
Securities sold under customer repurchase agreements	0.37		0.35		0.37		0.52		0.51		2	0.36		0.53		(17)



Senior unsecured borrowings	5.31		5.13		5.23		5.27		5.27		18	5.22		5.20		2
Subordinated debt	5.43		5.27		5.28		5.20		5.02		16	5.32		4.68		64
Other borrowings	3.66		3.66		3.66		3.67		3.66		—	3.66		3.66		—
Long-term borrowings	3.87		3.80		3.78		3.76		3.73		7	3.81		3.71		10
Total borrowings	3.85		3.78		3.76		3.74		3.70		7	3.80		3.67		13
Total interest-bearing liabilities	3.01	%	2.95	%	2.93	%	3.03	%	3.16	%	6	2.96	%	3.19	%	(23)







Net interest income
Net interest spread (2)	2.35	%	2.39	%	2.37	%	2.45	%	2.48	%	(4)	2.37	%	2.47	%	(10)
Net interest margin (2)	3.07	%	3.10	%	3.09	%	3.20	%	3.26	%	(3)	3.09	%	3.26	%	(17)


(1) Loans and leases include nonaccrual loans and loans held for sale. Interest income on loans and leases includes loan PAA income and loan fees.
(2) The average balances and yields for loans and leases are calculated net of average credit balances of factoring clients to appropriately reflect the interest-earning portion of factoring receivables.

Note: Certain items above do not precisely recalculate as presented due to rounding.


Deposits by Type
dollars in millions	September 30, 2026		June 30, 2026		March 31, 2026		December 31, 2025		September 30, 2025		Increase (Decrease) From LQ
Noninterest-bearing demand	$	42,402	$	42,475	$	43,606	$	40,653	$	42,752	$	(73)	(0.2)	%
Checking with interest	28,349		25,778		25,599		24,377		23,731		2,571		10.0
Money market	42,906		39,964		41,136		38,687		38,718		2,942		7.4
Savings	53,465		50,083		47,258		46,625		46,915		3,382		6.8
Time	18,142		15,127		13,243		11,236		11,074		3,015		19.9
Total deposits	$	185,264	$	173,427	$	170,842	$	161,578	$	163,190	$	11,837	6.8	%

Loans and Credit Quality


Loans and Leases by Class											Increase (Decrease) From LQ
dollars in millions	September 30, 2026		June 30, 2026		March 31, 2026		December 31, 2025		September 30, 2025

Commercial
Commercial and industrial	$	48,684	$	46,574	$	45,753	$	44,721	$	44,909	$	2,110	4.5	%
Capital call lines	38,126		34,203		32,274		31,791		28,643		3,923		11.5
Owner occupied commercial mortgage	18,346		17,904		17,502		17,660		17,232		442		2.5
Investor dependent	2,582		2,624		2,714		2,778		2,772		(42)		(1.6)
Commercial real estate	23,038		23,233		23,707		23,784		23,255		(195)		(0.8)
Total commercial	130,776		124,538		121,950		120,734		116,811		6,238		5.0
Consumer
Residential mortgage	21,516		21,566		21,698		21,861		22,653		(50)		(0.2)
Revolving mortgage	2,853		2,868		2,863		2,863		2,794		(15)		(0.6)
Auto	1,224		1,261		1,332		1,416		1,463		(37)		(2.9)
Other consumer	821		801		849		1,056		1,037		20		2.4
Total consumer	26,414		26,496		26,742		27,196		27,947		(82)		(0.3)
Total loans and leases	157,190		151,034		148,692		147,930		144,758		6,156		4.1
Less: allowance for loan and lease losses	(1,436)		(1,484)		(1,558)		(1,566)		(1,652)		(48)		(3.2)
Total loans and leases, net of allowance for loan and lease losses	$	155,754	$	149,550	$	147,134	$	146,364	$	143,106	$	6,204	4.1	%


Accruing Loans, 30-89 Days Past Due																Increase (Decrease) From LQ
dollars in millions	September 30, 2026			June 30, 2026			March 31, 2026			December 31, 2025			September 30, 2025
Commercial
Commercial and industrial	$	161		$	204		$	251		$	288		$	325		$	(43)	(20.8)	%
Capital call lines	—			—			31			—			—			—		—
Owner occupied commercial mortgage	96			85			89			97			52			11		13.7
Investor dependent	2			5			8			12			3			(3)		(59.3)
Commercial real estate	72			28			97			252			119			44		153.2
Total commercial	331			322			476			649			499			9		3.0
Consumer
Residential mortgage	122			155			173			210			151			(33)		(21.6)
Revolving mortgage	24			28			27			29			19			(4)		(16.0)
Auto	14			13			12			18			12			1		4.4
Other consumer	7			7			6			8			7			—		—
Total consumer	167			203			218			265			189			(36)		(18.2)
Total loans and leases	$	498		$	525		$	694		$	914		$	688		$	(27)	(5.2)	%

As a percentage of total loans
Commercial
Commercial and industrial	0.33		%	0.44		%	0.55		%	0.65		%	0.72		%	(11)		bps
Capital call lines	—			—			0.10			—			—			—
Owner occupied commercial mortgage	0.52			0.47			0.51			0.55			0.30			5
Investor dependent	0.08			0.20			0.30			0.44			0.09			(12)
Commercial real estate	0.31			0.12			0.41			1.06			0.51			19
Total commercial	0.25			0.26			0.39			0.54			0.43			(1)
Consumer
Residential mortgage	0.57			0.72			0.79			0.96			0.67			(15)
Revolving mortgage	0.84			0.99			0.92			1.04			0.69			(15)
Auto	1.12			1.04			0.92			1.24			0.84			8
Other consumer	0.87			0.84			0.76			0.76			0.63			3
Total consumer	0.63			0.77			0.81			0.97			0.68			(14)
Total loans and leases	0.32		%	0.35		%	0.47		%	0.62		%	0.48		%	(3)		bps

Loans and Credit Quality


Accruing Loans, 90+ Days Past Due																Increase (Decrease) From LQ
dollars in millions	September 30, 2026			June 30, 2026			March 31, 2026			December 31, 2025			September 30, 2025
Commercial
Commercial and industrial	$	6		$	37		$	35		$	63		$	10		$	(31)	(83.5)	%
Capital call lines	—			—			—			—			—			—		—
Owner occupied commercial mortgage	17			14			16			1			—			3		19.8
Investor dependent	—			—			—			—			—			—		—
Commercial real estate	78			197			185			171			191			(119)		(60.1)
Total commercial	101			248			236			235			201			(147)		(59.1)
Consumer
Residential mortgage	1			7			7			7			6			(6)		(83.8)
Revolving mortgage	—			—			—			—			—			—		—
Auto	—			—			—			—			—			—		—
Other consumer	2			1			2			2			2			1		25.2
Total consumer	3			8			9			9			8			(5)		(64.6)
Total loans and leases	$	104		$	256		$	245		$	244		$	209		$	(152)	(59.3)	%

As a percentage of total loans
Commercial
Commercial and industrial	0.01		%	0.08		%	0.08		%	0.14		%	0.02		%	(7)		bps
Capital call lines	—			—			—			—			—			—
Owner occupied commercial mortgage	0.09			0.08			0.09			—			—			1
Investor dependent	—			—			—			—			—			—
Commercial real estate	0.34			0.85			0.78			0.72			0.82			(51)
Total commercial	0.08			0.20			0.19			0.19			0.17			(12)
Consumer
Residential mortgage	0.01			0.03			0.03			0.03			0.03			(2)
Revolving mortgage	—			—			0.01			—			—			—
Auto	—			—			—			—			—			—
Other consumer	0.23			0.18			0.24			0.20			0.22			5
Total consumer	0.01			0.03			0.04			0.03			0.03			(2)
Total loans and leases	0.07		%	0.17		%	0.17		%	0.16		%	0.15		%	(10)		bps

Loans and Credit Quality


Nonaccrual Loans																Increase (Decrease) From LQ
dollars in millions	September 30, 2026			June 30, 2026			March 31, 2026			December 31, 2025			September 30, 2025
Commercial
Commercial and industrial	$	466		$	498		$	461		$	456		$	595		$	(32)	(6.6)	%
Capital call lines	—			—			—			—			—			—		—
Owner occupied commercial mortgage	180			153			162			159			158			27		17.4
Investor dependent	28			41			37			49			61			(13)		(31.2)
Commercial real estate	430			512			524			418			383			(82)		(16.1)
Total commercial	1,104			1,204			1,184			1,082			1,197			(100)		(8.4)
Consumer
Residential mortgage	218			196			196			179			167			22		11.4
Revolving mortgage	34			35			38			35			33			(1)		(2.3)
Auto	9			10			10			9			8			(1)		(3.5)
Other consumer	1			1			1			2			1			—		—
Total consumer	262			242			245			225			209			20		8.8
Total loans and leases	$	1,366		$	1,446		$	1,429		$	1,307		$	1,406		$	(80)	(5.5)	%

As a percentage of total loans
Commercial
Commercial and industrial	0.96		%	1.07		%	1.01		%	1.02		%	1.33		%	(11)		bps
Capital call lines	—			—			—			—			—			—
Owner occupied commercial mortgage	0.98			0.86			0.93			0.90			0.91			12
Investor dependent	1.08			1.54			1.35			1.75			2.19			(46)
Commercial real estate	1.86			2.20			2.21			1.76			1.65			(34)
Total commercial	0.84			0.97			0.97			0.90			1.02			(13)
Consumer
Residential mortgage	1.01			0.91			0.90			0.82			0.74			10
Revolving mortgage	1.21			1.23			1.31			1.22			1.18			(2)
Auto	0.75			0.76			0.77			0.67			0.57			(1)
Other consumer	0.17			0.16			0.14			0.19			0.13			1
Total consumer	1.00			0.91			0.92			0.83			0.75			9
Total loans and leases	0.87		%	0.96		%	0.96		%	0.88		%	0.97		%	(9)		bps

Other Real Estate Owned
dollars in millions
Other real estate owned	$	77		$	113		$	110		$	119		$	95		$	(36)	(32.0)	%


Criticized Commercial Loans (1)																Increase (Decrease) From LQ
dollars in millions	September 30, 2026			June 30, 2026			March 31, 2026			December 31, 2025			September 30, 2025

Commercial and industrial	$	3,293		$	3,272		$	3,434		$	3,487		$	3,678		$	21	0.7	%
Capital call lines	—			—			—			—			—			—		—
Owner occupied commercial mortgage	961			924			1,004			978			1,064			37		4.0
Investor dependent	580			584			577			646			617			(4)		(0.9)
Commercial real estate	1,508			1,557			1,620			1,779			1,816			(49)		(3.2)
Total criticized commercial loans	$	6,342		$	6,337		$	6,635		$	6,890		$	7,175		$	5	0.1	%

As a percentage of loans
Commercial and industrial	6.76		%	7.02		%	7.51		%	7.80		%	8.19		%	(26)		bps
Capital call lines	—			—			—			—			—			—
Owner occupied commercial mortgage	5.24			5.16			5.74			5.54			6.17			8
Investor dependent	22.44			22.28			21.28			23.22			22.26			16
Commercial real estate	6.55			6.70			6.84			7.48			7.81			(15)
Total criticized commercial loans	4.85		%	5.09		%	5.44		%	5.71		%	6.14		%	(24)		bps
(1) Consists of commercial loans rated as special mention, substandard, or doubtful.

Loans and Credit Quality


Net Charge-offs	Three Months Ended															Increase (Decrease) From LQ				Nine Months Ended						Increase (Decrease) From PYTD
dollars in millions	September 30, 2026			June 30, 2026			March 31, 2026			December 31, 2025			September 30, 2025							September 30, 2026			September 30, 2025
Commercial
Commercial and industrial	$	51		$	63		$	84		$	76		$	184		$	(12)	(17.4)	%	$	198		$	325		$	(127)	(38.7)	%
Capital call lines	—			—			—			—			—			—		—		—			—			—		—
Owner occupied commercial mortgage	—			1			4			4			2			(1)		(100.0)		5			3			2		81.7
Investor dependent	16			12			5			20			17			4		29.6		33			71			(38)		(53.0)
Commercial real estate	31			27			12			39			23			4		16.6		70			82			(12)		(15.1)
Total commercial	98			103			105			139			226			(5)		(3.7)		306			481			(175)		(36.2)
Consumer
Residential mortgage	(1)			—			(1)			(1)			4			(1)		(100.0)		(2)			3			(5)		(181.7)
Revolving mortgage	1			(1)			—			—			—			2		307.2		—			(1)			1		100.0
Auto	1			2			1			1			—			(1)		(12.7)		4			2			2		39.9
Other consumer	4			4			6			4			4			—		—		14			12			2		17.7
Total consumer	5			5			6			4			8			—		—		16			16			—		—
Total net charge-offs	$	103		$	108		$	111		$	143		$	234		$	(5)	(4.0)	%	$	322		$	497		$	(175)	(35.2)	%

Net charge-off ratio (1)
Commercial
Commercial and industrial	0.44		%	0.55		%	0.73		%	0.68		%	1.65		%	(11)		bps		0.57		%	0.98		%	(41)		bps
Capital call lines	—			—			—			—			—			—				—			—			—
Owner occupied commercial mortgage	—			0.02			0.09			0.09			0.05			(2)				0.03			0.02			1
Investor dependent	2.42			1.82			0.77			2.88			2.44			60				1.65			3.21			(156)
Commercial real estate	0.53			0.45			0.21			0.67			0.39			8				0.40			0.47			(7)
Total commercial	0.31			0.33			0.34			0.47			0.78			(2)				0.33			0.56			(23)
Consumer																				—			—
Residential mortgage	(0.02)			(0.01)			—			(0.02)			0.07			(1)				(0.01)			0.01			(2)
Revolving mortgage	0.03			(0.01)			(0.04)			(0.02)			—			4				(0.01)			(0.02)			1
Auto	0.35			0.30			0.53			0.23			0.25			5				0.39			0.25			14
Other consumer	1.95			2.08			2.28			1.54			1.42			(13)				2.06			1.56			50
Total consumer	0.06			0.07			0.10			0.05			0.12			(1)				0.08			0.08			—
Total net charge-offs (2)	0.27		%	0.29		%	0.30		%	0.39		%	0.65		%	(2)		bps		0.28		%	0.47		%	(19)		bps

(1) Annualized net charge-offs as a percentage of average loans (calculated as the average of beginning and ending balances unless otherwise noted).
(2) Annualized net charge-offs as a percentage of the average daily balance for the period.

Loans and Credit Quality


Allowance for Loan and Lease Losses (ALLL)	Three Months Ended										Increase (Decrease) From LQ				Nine Months Ended				Increase (Decrease) From PYTD
dollars in millions	September 30, 2026		June 30, 2026		March 31, 2026		December 31, 2025		September 30, 2025						September 30, 2026		September 30, 2025
ALLL at beginning of period	$	1,484	$	1,558	$	1,566	$	1,652	$	1,672	$	(74)	(4.7)	%	$	1,566	$	1,676	$	(110)	(6.5)	%
BMO PSL ALLL (1)	5		—		—		—		—		5		NM		5		—		5		NM

Provision for loan and lease losses	50		34		103		57		214		16		48.2		187		473		(286)		(60.5)
Charge-offs	(135)		(130)		(132)		(174)		(256)		5		4.3		(397)		(567)		(170)		(30.0)
Recoveries	32		22		21		31		22		10		43.9		75		70		5		7.0
Net charge-offs	(103)		(108)		(111)		(143)		(234)		(5)		(4.0)		(322)		(497)		(175)		(35.1)

ALLL at end of period	$	1,436	$	1,484	$	1,558	$	1,566	$	1,652	$	(48)	(3.2)	%	$	1,436	$	1,652	$	(216)	(13.1)	%

(1) ALLL for purchased seasoned loans acquired in the acquisition of 138 BMO Bank N.A. branches completed on September 4, 2026.


Allowance for Loan and Lease Losses (ALLL)																Increase (Decrease) From LQ
dollars in millions	September 30, 2026			June 30, 2026			March 31, 2026			December 31, 2025			September 30, 2025
Commercial
Commercial and industrial	$	736		$	740		$	808		$	807		$	814		$	(4)	(0.6)	%
Capital call lines	29			28			29			29			29			1		3.4
Owner occupied commercial mortgage	64			60			52			50			52			4		6.5
Investor dependent	146			170			166			181			201			(24)		(14.0)
Commercial real estate	319			355			373			369			428			(36)		(10.1)
Total commercial	1,294			1,353			1,428			1,436			1,524			(59)		(4.4)
Consumer
Residential mortgage	80			72			70			67			69			8		11.2
Revolving mortgage	25			27			28			26			22			(2)		(8.1)
Auto	10			10			9			9			10			—		—
Other consumer	27			22			23			28			27			5		24.8
Total consumer	142			131			130			130			128			11		8.2
Total ALLL	$	1,436		$	1,484		$	1,558		$	1,566		$	1,652		$	(48)	(3.3)	%

As a percentage of loans
Commercial
Commercial and industrial	1.51		%	1.59		%	1.77		%	1.80		%	1.82		%	(8)		bps
Capital call lines	0.08			0.08			0.09			0.09			0.10			—
Owner occupied commercial mortgage	0.35			0.33			0.30			0.28			0.30			2
Investor dependent	5.65			6.46			6.12			6.52			7.24			(81)
Commercial real estate	1.38			1.53			1.58			1.55			1.84			(15)
Total commercial	0.99			1.09			1.17			1.19			1.31			(10)
Consumer
Residential mortgage	0.37			0.33			0.32			0.31			0.30			4
Revolving mortgage	0.87			0.94			0.96			0.89			0.78			(7)
Auto	0.81			0.83			0.70			0.67			0.66			(2)
Other consumer	3.35			2.75			2.71			2.62			2.54			60
Total consumer	0.54			0.49			0.48			0.48			0.45			5
Total loans and leases	0.91		%	0.98		%	1.05		%	1.06		%	1.14		%	(7)		bps


Provision for Credit Losses	Three Months Ended										Increase (Decrease) From LQ				Nine Months Ended				Increase (Decrease) From PYTD
dollars in millions	September 30, 2026		June 30, 2026		March 31, 2026		December 31, 2025		September 30, 2025						September 30, 2026		September 30, 2025

Provision for loan and lease losses	$	50	$	34	$	103	$	57	$	214	$	16	48.2	%	$	187	$	473	(286)		(60.5)	%


Provision (benefit) for off-balance sheet credit exposure	6		(44)		(32)		(5)		(23)		50		112.8		(70)		(13)		(57)		(439.5)


(Benefit) provision for other receivables	(1)		—		1		2		—		(1)		NM		—		—		—		—
Provision (benefit) for credit losses	$	55	$	(10)	$	72	$	54	$	191	$	65	650.2	%	$	117	$	460	$	(343)	(74.6)	%

Statements of Income by Segment


General Bank	Three Months Ended										Increase (Decrease) From LQ				Nine Months Ended				Increase (Decrease) From PYTD
dollars in millions	September 30, 2026		June 30, 2026		March 31, 2026		December 31, 2025		September 30, 2025						September 30, 2026		September 30, 2025
Net interest income	$	829	$	819	$	813	$	841	$	846	$	10	1.2	%	$	2,461	$	2,458		$	3	0.1	%
Total noninterest income	184		187		172		170		166		(3)		(1.6)		543		494			49		9.9
Total revenue	1,013		1,006		985		1,011		1,012		7		0.7		3,004		2,952			52		1.8
Personnel cost	225		209		215		211		210		16		7.9		649		627			22		3.6

All other noninterest expense	397		392		385		393		372		5		1.4		1,174		1,100			74		6.7
Total noninterest expense	622		601		600		604		582		21		3.7		1,823		1,727			96		5.6

Provision for credit losses	37		54		17		17		1		(17)		(26.6)		108		60			48		84.6
Income before income taxes	354		351		368		390		429		3		0.2		1,073		1,165			(92)		(8.2)
Income tax expense	88		85		90		82		109		3		3.1		263		298			(35)		(11.8)
Net income	$	266	$	266	$	278	$	308	$	320	$	—	—	%	$	810	$	867		$	(57)	(6.9)	%


Commercial Bank	Three Months Ended										Increase (Decrease) From LQ				Nine Months Ended				Increase (Decrease) From PYTD
dollars in millions	September 30, 2026		June 30, 2026		March 31, 2026		December 31, 2025		September 30, 2025						September 30, 2026		September 30, 2025
Net interest income	$	848	$	805	$	802	$	834	$	796	$	43	5.3	%	$	2,455	$	2,371		$	84	3.5	%
Noninterest Income
Rental income on operating lease equipment	51		54		55		55		54		(3)		(3.5)		160		164			(4)		(2.4)



All other noninterest income	269		270		230		241		236		(1)		(0.3)		769		665			104		15.7
Total noninterest income	320		324		285		296		290		(4)		(0.8)		929		829			100		12.1

Total revenue	1,168		1,129		1,087		1,130		1,086		39		3.5		3,384		3,200			184		5.8

Noninterest Expense
Personnel cost	186		186		199		180		184		—		—		571		557			14		2.6

Depreciation on operating lease equipment	41		43		43		44		43		(2)		(3.8)		127		131			(4)		(3.4)
All other noninterest expense	398		400		404		432		412		(2)		(0.2)		1,202		1,254			(52)		(4.1)
Total noninterest expense	625		629		646		656		639		(4)		(0.5)		1,900		1,942			(42)		(2.1)


Provision (benefit) for credit losses	18		(64)		55		37		190		82		128.1		9		400			(391)		(97.8)
Income before income taxes	525		564		386		437		257		(39)		(6.9)		1,475		858			617		71.8
Income tax expense	131		136		95		102		64		(5)		(3.9)		362		218			144		65.1
Net income	$	394	$	428	$	291	$	335	$	193	$	(34)	(7.9)	%	$	1,113	$	640		$	473	74.0	%


Rental Income on Operating Lease Equipment (non-GAAP)	Three Months Ended										Increase (Decrease) From LQ				Nine Months Ended				Increase (Decrease) From PYTD
dollars in millions	September 30, 2026		June 30, 2026		March 31, 2026		December 31, 2025		September 30, 2025						September 30, 2026		September 30, 2025
Rental income on operating leases (GAAP)	$	51	$	54	$	55	$	55	$	54	$	(3)	(3.5)	%	$	160	$	164		$	(4)	(2.4)	%
Less: depreciation on operating lease equipment	41		43		43		44		43		(2)		(3.8)		127		131			(4)		(3.4)

Adjusted rental income on operating lease equipment (non-GAAP)	$	10	$	11	$	12	$	11	$	11	$	(1)	(9.1)	%	$	33	$	33		$	—	—	%

Statements of Income by Segment


Rail	Three Months Ended										Increase (Decrease) From LQ				Nine Months Ended				Increase (Decrease) From PYTD
dollars in millions	September 30, 2026		June 30, 2026		March 31, 2026		December 31, 2025		September 30, 2025						September 30, 2026		September 30, 2025
Net interest expense	$	(60)	$	(59)	$	(58)	$	(53)	$	(55)	$	(1)	(2.3)	%	$	(177)	$	(160)		$	(17)	(11)	%
Noninterest Income
Rental income on operating lease equipment	237		226		226		226		219		11		4.4		689		651			38		5.8



All other noninterest income	2		7		9		9		2		(5)		(72.3)		18		7			11		165.8
Total noninterest income	239		233		235		235		221		6		2.2		707		658			49		7.5

Total revenue	179		174		177		182		166		5		2.2		530		498			32		6.5

Noninterest Expense
Personnel cost	7		6		8		6		6		1		0.2		21		20			1		4.1

Depreciation on operating lease equipment	59		58		58		58		55		1		1.7		175		165			10		6.1
Maintenance and other operating lease expenses	66		67		65		64		67		(1)		(1.0)		198		180			18		10.2
All other noninterest expense	19		18		17		16		16		1		7.0		54		56			(2)		(4.2)
Total noninterest expense	151		149		148		144		144		2		1.0		448		421			27		6.4



Income before income taxes	28		25		29		38		22		3		8.1		82		77			5		7.6
Income tax expense	7		6		7		9		5		1		11.3		20		19			1		2.3
Net income	$	21	$	19	$	22	$	29	$	17	$	2	7.2	%	$	62	$	58		$	4	9.4	%


Rental Income on Operating Lease Equipment (non-GAAP)	Three Months Ended										Increase (Decrease) From LQ				Nine Months Ended				Increase (Decrease) From PYTD
dollars in millions	September 30, 2026		June 30, 2026		March 31, 2026		December 31, 2025		September 30, 2025						September 30, 2026		September 30, 2025
Rental income on operating leases (GAAP)	$	237	$	226	$	226	$	226	$	219	$	11	4.4	%	$	689	$	651		$	38	5.8	%
Less: depreciation on operating lease equipment	59		58		58		58		55		1		1.7		175		165			10		6.1
Less: maintenance and other operating lease expenses	66		67		65		64		67		(1)		(1.0)		198		180			18		10.2
Adjusted rental income on operating lease equipment (non-GAAP)	$	112	$	101	$	103	$	104	$	97	$	11	10.9	%	$	316	$	306		$	10	3.3	%


Corporate (1)	Three Months Ended										Increase (Decrease) From LQ				Nine Months Ended				Increase (Decrease) From PYTD
dollars in millions	September 30, 2026		June 30, 2026		March 31, 2026		December 31, 2025		September 30, 2025						September 30, 2026		September 30, 2025
Net interest income	$	82	$	91	$	64	$	100	$	147	$	(9)	(9.2)	%	$	237	$	423		$	(186)	(43.9)	%
Total noninterest income	(9)		32		—		14		22		(41)		(128.5)		23		31			(8)		(25.8)
Total revenue	73		123		64		114		169		(50)		(40.4)		260		454			(194)		(42.6)
Personnel cost	424		443		447		452		417		(19)		(4.1)		1,314		1,241			73		5.8
Acquisition-related expenses	18		8		5		33		28		10		110.8		31		108			(77)		(71.1)
All other noninterest expense (2)	(267)		(279)		(310)		(317)		(319)		12		4.1		(856)		(955)			99		10.4
Total noninterest expense	175		172		142		168		126		3		1.6		489		394			95		24.1

Provision for credit losses	—		—		—		—		—		—		—		—		—			—		—
(Loss) Income before income taxes	(102)		(49)		(78)		(54)		43		(53)		(100.3)		(229)		60			(289)		(477.1)
Income tax (benefit) expense	(27)		(8)		(21)		38		5		(19)		(206.2)		(56)		(1)			(55)		NM
Net (loss) income	$	(75)	$	(41)	$	(57)	$	(92)	$	38	$	(34)	(77.5)	%	$	(173)	$	61		$	(234)	(374.9)	%

(1) BancShares’ segments include the General Bank, Commercial Bank, and Rail. All other financial information not included in the segments is reported in the Corporate section of the segment disclosures.

(2) Under BancShares’ segment expense allocation methodology, allocated expenses increase noninterest expense of the applicable segment(s), with an offsetting decrease to Corporate noninterest expense. “All other noninterest expense” in the table above includes the effect of allocated expenses, resulting in a reduction to expense (i.e. contra expense) for Corporate.

Loans and Deposits by Segment


Loans and Leases											Increase (Decrease) From LQ
dollars in millions	September 30, 2026		June 30, 2026		March 31, 2026		December 31, 2025		September 30, 2025
At Period End
General Bank	$	64,988	$	64,355	$	64,367	$	64,958	$	65,225	$	633	1.0	%
Commercial Bank	92,119		86,635		84,263		82,910		79,470		5,484		6.3


Rail and Corporate	83		44		62		62		63		39		88.6
Total loans and leases	$	157,190	$	151,034	$	148,692	$	147,930	$	144,758	$	6,156	4.1	%

	Three Months Ended										Increase (Decrease) From LQ				Nine Months Ended				Increase (Decrease) From PYTD
dollars in millions	September 30, 2026		June 30, 2026		March 31, 2026		December 31, 2025		September 30, 2025						September 30, 2026		September 30, 2025
Average Balances
General Bank	$	64,581	$	64,385	$	64,884	$	65,324	$	65,059	$	196	0.3	%	$	64,615	$	64,967	$	(352)	(0.5)	%
Commercial Bank	89,567		85,425		83,993		81,400		77,608		4,142		4.9		86,349		76,725		9,624		12.5
Rail and Corporate	367		284		244		220		190		83		29.0		299		126		173		138.2
Total loans and leases	$	154,515	$	150,094	$	149,121	$	146,944	$	142,857	$	4,421	2.9	%	$	151,263	$	141,818	$	9,445	6.7	%


Deposits											Increase (Decrease) From LQ
dollars in millions	September 30, 2026		June 30, 2026		March 31, 2026		December 31, 2025		September 30, 2025
At Period End
General Bank	$	81,381	$	75,718	$	75,914	$	74,796	$	74,596	$	5,663	7.5	%
Commercial Bank	47,151		45,690		47,191		41,532		42,869		1,461		3.2
Rail	2		2		2		2		2		—		—
Corporate- Direct Bank	51,428		48,222		45,408		44,802		45,146		3,206		6.7
Corporate- Brokered Deposits	4,647		3,325		1,831		—		134		1,322		39.8
Corporate- other (1)	655		470		496		446		443		185		39.4
Corporate	56,730		52,017		47,735		45,248		45,723		4,713		9.1
Total deposits	$	185,264	$	173,427	$	170,842	$	161,578	$	163,190	$	11,837	6.8	%

	Three Months Ended										Increase (Decrease) From LQ				Nine Months Ended				Increase (Decrease) From PYTD
dollars in millions	September 30, 2026		June 30, 2026		March 31, 2026		December 31, 2025		September 30, 2025						September 30, 2026		September 30, 2025
Average Balances
General Bank	$	77,717	$	75,603	$	75,199	$	75,398	$	73,882	$	2,114	2.8	%	$	76,182	$	73,687	$	2,495	3.4	%
Commercial Bank	46,226		45,200		44,546		42,273		40,619		1,026		2.3		45,330		39,355		5,975		15.2
Rail	2		2		2		2		2		—		—		2		8		(6)		(73.2)
Corporate- Direct Bank	49,995		46,493		44,883		44,818		45,221		3,502		7.5		47,143		44,052		3,091		7.0
Corporate- Brokered Deposits	3,973		2,447		589		41		140		1,526		62.4		2,349		261		2,088		800.0
Corporate- other (1)	769		894		708		659		760		(125)		(14.0)		790		874		(84)		(9.6)
Corporate	54,737		49,834		46,180		45,518		46,121		4,903		9.8		50,282		45,187		5,095		11.3
Total deposits	$	178,682	$	170,639	$	165,927	$	163,191	$	160,624	$	8,043	4.7	%	$	171,796	$	158,237	$	13,559	8.6	%

(1) Includes other deposits not allocated to the General Bank, Commercial Bank or Rail segments.

Purchase Accounting Summary



dollars in millions	September 30, 2026		June 30, 2026		March 31, 2026		December 31, 2025		September 30, 2025
Loans and leases (including off-balance sheet exposure) (1)
Beginning balance - unamortized fair value mark	$	(1,240)	$	(1,300)	$	(1,351)	$	(1,411)	$	(1,483)



Other	1		5		3		1		1
Accretion	50		55		48		59		71
Ending balance	$	(1,189)	$	(1,240)	$	(1,300)	$	(1,351)	$	(1,411)

Core deposits and other intangibles
Beginning balance	$	171	$	182	$	195	$	208	$	221


Additions - BMO Branch Acquisition	192		—		—		—		—
Amortization	(14)		(11)		(13)		(13)		(13)
Ending balance	$	349	$	171	$	182	$	195	$	208








Borrowings (2)
Beginning balance - unamortized fair value mark	$	47	$	61	$	78	$	97	$	107


Amortization	(6)		(7)		(9)		(10)		(10)
Loss on extinguishment of debt	(19)		(7)		(8)		(9)		—
Ending balance	$	22	$	47	$	61	$	78	$	97

Note – The summary above only includes select information and is not intended to represent all purchase accounting adjustments.

(1) Purchase accounting marks on loans and leases is comprised of credit, interest and liquidity components, and are generally recognized using the level-yield or straight-line method over the remaining life of the receivable or in full in the event of prepayment.

(2) Purchase accounting marks on borrowings represent interest rate marks and are recognized using the level-yield method over the remaining term of the liability.

Non-GAAP Reconciliations


		Three Months Ended										Nine Months Ended
dollars in millions, except share and per share data		September 30, 2026		June 30, 2026		March 31, 2026		December 31, 2025		September 30, 2025		September 30, 2026		September 30, 2025
Net income and EPS
Net income (GAAP)	a	$	606	$	672	$	534	$	580	$	568	$	1,812	$	1,626
Preferred stock dividends		29		32		26		14		14		87		43
Net income available to common stockholders (GAAP)	b	$	577	$	640	$	508	$	566	$	554	$	1,725	$	1,583
Total notable items, after income tax	c	46		19		26		68		19		91		96
Adjusted net income (non-GAAP)	d = (a+c)	652		691		560		648		587		1,903		1,722
Adjusted net income available to common stockholders (non-GAAP)	e = (b+c)	$	623	$	659	$	534	$	634	$	573	$	1,816	$	1,679
Weighted average common shares outstanding
Basic	f	11,250,519		11,535,792		11,924,899		12,363,028		12,849,339		11,567,933		13,217,940
Diluted	g	11,250,519		11,535,792		11,924,899		12,363,028		12,849,339		11,567,933		13,217,940
EPS (GAAP)
Basic	b/f	$	51.23	$	55.52	$	42.63	$	45.81	$	43.08	$	149.14	$	119.70
Diluted	b/g	51.23		55.52		42.63		45.81		43.08		149.14		119.70
Adjusted EPS (non-GAAP)
Basic	e/f	$	55.37	$	57.09	$	44.86	$	51.27	$	44.62	$	157.02	$	127.03
Diluted	e/g	55.37		57.09		44.86		51.27		44.62		157.02		127.03

Noninterest income and expense
Noninterest income (GAAP)	h	$	734	$	776	$	692	$	715	$	699	$	2,202	$	2,012
Impact of notable items, before income tax		(159)		(190)		(172)		(186)		(181)		(521)		(502)
Adjusted noninterest income (non-GAAP)	i	$	575	$	586	$	520	$	529	$	518	$	1,681	$	1,510

Noninterest expense (GAAP)	j	$	1,573	$	1,551	$	1,536	$	1,572	$	1,491	$	4,660	$	4,484
Impact of notable items, before income tax		(218)		(205)		(206)		(204)		(212)		(629)		(649)
Adjusted noninterest expense (non-GAAP)	k	$	1,355	$	1,346	$	1,330	$	1,368	$	1,279	$	4,031	$	3,835







PPNR
Net income (GAAP)	a	$	606	$	672	$	534	$	580	$	568	$	1,812	$	1,626
Plus: provision (benefit) for credit losses		55		(10)		72		54		191		117		460
Plus: income tax expense		199		219		171		231		183		589		534
PPNR (non-GAAP)	l	$	860	$	881	$	777	$	865	$	942	$	2,518	$	2,620
Impact of notable items (1)		59		15		34		18		31		108		147
Adjusted PPNR (non-GAAP)	m	$	919	$	896	$	811	$	883	$	973	$	2,626	$	2,767

(1) Excludes the impact of notable items on income taxes as this is excluded from PPNR as presented in the table above.
Note: Certain items above do not precisely recalculate as presented due to rounding.

Non-GAAP Reconciliations


		Three Months Ended															Nine Months Ended
dollars in millions		September 30, 2026			June 30, 2026			March 31, 2026			December 31, 2025			September 30, 2025			September 30, 2026			September 30, 2025
ROA
Net income (GAAP)	a	$	606		$	672		$	534		$	580		$	568		$	1,812		$	1,626
Annualized net income	n = a annualized	2,403			2,699			2,164			2,303			2,254			2,423			2,173
Adjusted net income (non-GAAP)	d	652			691			560			648			587			1,903			1,722
Annualized adjusted net income	p = d annualized	2,588			2,771			2,272			2,571			2,332			2,545			2,303
Average assets	o	240,727			235,200			233,181			233,432			230,529			236,397			227,862
ROA	n/o	1.00		%	1.15		%	0.93		%	0.99		%	0.98		%	1.02		%	0.95		%
Adjusted ROA (non-GAAP)	p/o	1.08			1.18			0.97			1.10			1.01			1.08			1.01

PPNR ROA
PPNR (non-GAAP)	l	$	860		$	881		$	777		$	865		$	942		$	2,518		$	2,620
Annualized PPNR	q = l annualized	3,409			3,536			3,152			3,430			3,738			3,366			3,503
Adjusted PPNR (non-GAAP)	m	919			896			811			883			973			2,626			2,767
Annualized adjusted PPNR	r = m annualized	3,646			3,595			3,288			3,504			3,860			3,511			3,700
PPNR ROA (non-GAAP)	q/o	1.42		%	1.50		%	1.35		%	1.47		%	1.62		%	1.42		%	1.54		%
Adjusted PPNR ROA (non-GAAP)	r/o	1.51			1.53			1.41			1.50			1.67			1.49			1.62

ROE and ROTCE
Annualized net income available to common stockholders	s = b annualized	$	2,287		$	2,569		$	2,062		$	2,247		$	2,196		$	2,307		$	2,115
Annualized adjusted net income available to common stockholders	t = e annualized	$	2,471		$	2,642		$	2,170		$	2,515		$	2,275		$	2,429		$	2,245

Average stockholders' equity (GAAP)		$	22,004		$	22,180		$	22,487		$	22,197		$	22,291		$	22,222		$	22,411
Less: average preferred stock		1,819			1,765			1,613			1,117			881			1,733			881
Average common stockholders' equity	u	$	20,185		$	20,415		$	20,874		$	21,080		$	21,410		$	20,489		$	21,530
Less: average goodwill		367			346			346			346			346			353			346
Less: average other intangible assets		224			179			191			204			216			198			230
Average tangible common equity (non-GAAP)	v	$	19,594		$	19,890		$	20,337		$	20,530		$	20,848		$	19,938		$	20,954
ROE	s/u	11.33		%	12.58		%	9.88		%	10.66		%	10.26		%	11.26		%	9.82		%
Adjusted ROE (non-GAAP)	t/u	12.24			12.94			10.39			11.93			10.62			11.85			10.43
ROTCE (non-GAAP)	s/v	11.67			12.92			10.14			10.94			10.53			11.57			10.09
Adjusted ROTCE (non-GAAP)	t/v	12.61			13.28			10.67			12.25			10.91			12.18			10.71

Tangible common equity to tangible assets at period end
Stockholders' equity (GAAP)	w	$	21,577		$	21,900		$	22,048		$	22,238		$	21,986
Less: preferred stock		2,061			1,765			1,765			1,375			881
Common equity	x	$	19,516		$	20,135		$	20,283		$	20,863		$	21,105
Less: goodwill	y	418			346			346			346			346
Less: other intangible assets	z	349			171			182			195			208
Tangible common equity (non-GAAP)	aa	$	18,749		$	19,618		$	19,755		$	20,322		$	20,551
Total assets (GAAP)	bb	241,182			236,842			235,959			229,698			233,488
Tangible assets (non-GAAP)	cc = bb - (y + z)	240,415			236,325			235,431			229,157			232,934
Total equity to total assets (GAAP)	w/bb	8.95		%	9.25		%	9.34		%	9.68		%	9.42		%
Tangible common equity to tangible assets (non-GAAP)	aa/cc	7.80			8.30			8.39			8.87			8.82


Note: Certain items above do not precisely recalculate as presented due to rounding.

Non-GAAP Reconciliations


		Three Months Ended															Nine Months Ended
dollars in millions, except share and per share data		September 30, 2026			June 30, 2026			March 31, 2026			December 31, 2025			September 30, 2025			September 30, 2026			September 30, 2025
Book value and tangible book value per common share at period end
Common shares outstanding at period end	dd	11,111,579			11,390,407			11,689,314			12,139,159			12,618,629
Book value per share	x/dd	$	1,756.40		$	1,767.79		$	1,735.18		$	1,718.71		$	1,672.54
Tangible book value per common share (non-GAAP)	aa/dd	1,687.41			1,722.35			1,689.96			1,674.11			1,628.64

Efficiency ratio
Net interest income	ee	$	1,699		$	1,656		$	1,621		$	1,722		$	1,734		$	4,976		$	5,092
Efficiency ratio (GAAP)	j / (h + ee)	64.68		%	63.75		%	66.41		%	64.53		%	61.27		%	64.92		%	63.12		%
Adjusted efficiency ratio (non-GAAP)	k / (i + ee)	59.59			60.05			62.13			60.79			56.78			60.56			58.08

Rental income on operating lease equipment
Rental income on operating lease equipment (GAAP)		$	288		$	280		$	281		$	281		$	273		$	849		$	815
Less: depreciation on operating lease equipment		100			101			101			102			98			302			296
Less: maintenance and other operating lease expenses		66			67			65			64			67			198			180

Adjusted rental income on operating lease equipment (non-GAAP)		$	122		$	112		$	115		$	115		$	108		$	349		$	339

Rental income on operating lease equipment: Commercial Bank Segment
Rental income on operating leases (GAAP)		$	51		$	54		$	55		$	55		$	54		$	160		$	164
Less: depreciation on operating lease equipment		41			43			43			44			43			127			131

Adjusted rental income on operating lease equipment (non-GAAP)		$	10		$	11		$	12		$	11		$	11		$	33		$	33

Rental income on operating lease equipment: Rail Segment
Rental income on operating leases (GAAP)		$	237		$	226		$	226		$	226		$	219		$	689		$	651
Less: depreciation on operating lease equipment		59			58			58			58			55			175			165
Less: maintenance and other operating lease expenses		66			67			65			64			67			198			180
Adjusted rental income on operating lease equipment (non-GAAP)		$	112		$	101		$	103		$	104		$	97		$	316		$	306

Non-GAAP Reconciliations


		Three Months Ended															Nine Months Ended
dollars in millions		September 30, 2026			June 30, 2026			March 31, 2026			December 31, 2025			September 30, 2025			September 30, 2026			September 30, 2025
Net interest income & Net interest margin
Net interest income (GAAP)	ee	$	1,699		$	1,656		$	1,621		$	1,722		$	1,734		$	4,976		$	5,092
Loan PAA	ff	50			55			48			59			71			153			230
Other PAA	gg	(6)			(7)			(9)			(10)			(10)			(22)			(28)
PAA	hh = (ff + gg)	$	44		$	48		$	39		$	49		$	61		$	131		$	202
Net interest income, excluding PAA (non-GAAP)	ii = (ee - hh)	$	1,655		$	1,608		$	1,582		$	1,673		$	1,673		$	4,845		$	4,890

Annualized net interest income	jj = ee annualized	$	6,740		$	6,642		$	6,575		$	6,834		$	6,878		$	6,653		$	6,808
Annualized net interest income, excluding PAA	kk = ii annualized	6,565			6,451			6,416			6,640			6,637			6,478			6,537
Average interest-earning assets	ll	219,732			213,990			212,552			213,294			211,042			215,451			208,432

NIM (GAAP)	jj/ll	3.07		%	3.10		%	3.09		%	3.20		%	3.26		%	3.09		%	3.26		%
NIM, excluding PAA (non-GAAP)	kk/ll	2.99			3.01			3.01			3.11			3.15			3.00			3.13

Interest income on loans (GAAP)		$	2,341		$	2,253		$	2,206		$	2,290		$	2,300		$	6,800		$	6,806
Less: loan PAA	ff	50			55			48			59			71			153			230
Interest income on loans, excluding loan PAA (non-GAAP)		$	2,291		$	2,198		$	2,158		$	2,231		$	2,229		$	6,647		$	6,576

Personnel cost
Personnel cost (GAAP)		$	842		$	844		$	869		$	849		$	817		$	2,555		$	2,445
Less: impact of notable items		6			8			12			—			6			26			6
Adjusted personnel cost (non-GAAP)		$	836		$	836		$	857		$	849		$	811		$	2,529		$	2,439

Professional fees
Professional fees (GAAP)		$	18		$	26		$	24		$	34		$	26		$	68		$	81
Less: impact of notable items		4			5			6			—			—			15			—
Adjusted professional fees (non-GAAP)		$	14		$	21		$	18		$	34		$	26		$	53		$	81












Note: Certain items above do not precisely recalculate as presented due to rounding.

Source: View Original Filing on SEC EDGAR

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