What capital ratios and share repurchases did FCNCA report for Q2 2026?

Estimated regulatory ratios included a CET1 ratio of 10.77% and total risk-based capital ratio of 13.37% at June 30, 2026. FCNCA repurchased 298,907 Class A shares for $600 million in Q2, and since July 2024 has repurchased 3,141,855 shares for $6.19 billion, leaving $1.31 billion under its 2025 plan.

First Citizens BancShares (Nasdaq: FCNCA) lifts Q2 2026 profit and cuts debt

Q: What were First Citizens BancShares (FCNCA) earnings for Q2 2026?

Net income was $672 million in Q2 2026, up from $534 million in Q1 2026. Net income available to common stockholders was $640 million, or $55.52 per share , and adjusted net income available to common stockholders was $659 million, or $57.09 per share.

Q: How did FCNCA’s net interest income and margin perform in Q2 2026?

FCNCA generated net interest income of $1.66 billion in Q2 2026, an increase of $35 million from Q1 2026. Net interest margin was 3.10% , while net interest margin excluding purchase accounting accretion was 3.01% in both the current and linked quarters.

Q: What loan and deposit growth did FCNCA report for Q2 2026?

Loans and leases reached $151.03 billion at June 30, 2026, up $2.34 billion or 1.6% from March 31, 2026. Deposits totaled $173.43 billion , an increase of $2.59 billion or 1.5%, driven mainly by growth in Corporate deposits including Direct Bank and brokered balances.

Q: What were FCNCA’s key credit quality metrics in Q2 2026?

FCNCA recorded a $10 million benefit for credit losses in Q2 2026, compared with a $72 million provision in Q1. Net charge-offs were $108 million (0.29% of average loans), nonaccrual loans were $1.45 billion (0.96% of loans), and the allowance was $1.48 billion (0.98% of loans).

Q: What guidance did FCNCA give for 3Q26 and full-year 2026?

FCNCA projected Q3 2026 end-of-period loans of $152–$155 billion and deposits of $179–$182 billion, with net interest income of $1.63–$1.71 billion. For 2026, it guided loans to $153–$157 billion, deposits to $181–$186 billion, net interest income to $6.60–$6.75 billion, and a net charge-off ratio of 30–35 basis points.

Filing Impact

(High)

Filing Sentiment

(Neutral)

Form Type

8-K

Rhea-AI Filing Summary

First Citizens BancShares reported higher second-quarter 2026 results, with net income of $672 million versus $534 million in the prior quarter. Net income available to common stockholders was $640 million, or $55.52 per share, and adjusted net income available to common stockholders was $659 million, or $57.09 per share. Net interest income rose to $1.66 billion, and net interest margin was 3.10%, or 3.01% excluding purchase accounting accretion.

Reported noninterest income was $776 million, or $586 million on an adjusted basis, driven by higher derivatives valuations, a $17 million gain on sale of tax credit investments and broader fee growth. Adjusted noninterest expense increased modestly to $1.35 billion, as higher marketing, technology and other costs were partly offset by lower personnel expense. Credit metrics remained stable, with a $10 million benefit for credit losses versus a $72 million provision in the linked quarter, net charge-offs of $108 million (0.29% of average loans) and nonaccrual loans of $1.45 billion (0.96% of loans). The allowance for loan and lease losses was $1.48 billion, or 0.98% of loans.

Loans and leases grew 1.6% during the quarter to $151.03 billion, led by Commercial Bank growth, while deposits rose 1.5% to $173.43 billion. Borrowings fell to $32.19 billion as the company prepaid another $2.5 billion of the FDIC Purchase Money Note, leaving $28.42 billion outstanding. Regulatory capital ratios stayed above requirements, including a CET1 ratio of 10.77%. During the quarter, the company repurchased 298,907 Class A shares for $600 million, bringing total repurchases since July 2024 to 3,141,855 shares for $6.19 billion, with $1.31 billion remaining under the 2025 Share Repurchase Plan. The pending acquisition of 138 BMO Bank N.A. branches is expected to add about $5.3 billion in deposits and $700 million in loans upon anticipated closing in the third quarter of 2026, and management provided ranges for key 3Q26 and full-year 2026 metrics.

Positive

$600 million of Q2 2026 share repurchases and a $2.5 billion prepayment of the FDIC Purchase Money Note represent sizable capital return and debt reduction within the quarter.

Negative

None.

Filing Explained

The $1.31 billion left under the 2025 share-repurchase plan is authorization, not a committed outlay: the company says it is not obligated to repurchase any minimum amount and may suspend or discontinue purchases through 2026.

8-K Event Classification

3 items: 2.02, 7.01, 9.01

3 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 9.01 Financial Statements and Exhibits Exhibits

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

Key Figures

Net income Q2 2026: $672 million EPS Q2 2026: $55.52 per common share Net interest income: $1.66 billion +5 more

8 metrics

Net income Q2 2026 $672 million For the quarter ended June 30, 2026, compared with $534 million in Q1 2026

EPS Q2 2026 $55.52 per common share Net income available to common stockholders for the second quarter of 2026

Net interest income $1.66 billion Second quarter 2026 net interest income, up $35 million from the linked quarter

Net interest margin 3.10% Q2 2026 net interest margin; 3.01% excluding purchase accounting accretion

Loans and leases $151.03 billion Period-end balance at June 30, 2026, up $2.34 billion or 1.6% from March 31, 2026

Deposits $173.43 billion Period-end deposits at June 30, 2026, up $2.59 billion or 1.5% from March 31, 2026

CET1 capital ratio 10.77% Estimated Common Equity Tier 1 risk-based capital ratio at June 30, 2026

Q2 2026 share repurchases $600 million 298,907 Class A common shares repurchased during the current quarter

Key Terms

Net interest margin, Common equity Tier 1 risk-based capital, Purchase Money Note, Pre-provision net revenue, +1 more

5 terms

Net interest margin financial

"Net interest margin (NIM) was 3.10% for the current quarter"

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.

Common equity Tier 1 risk-based capital financial

"The estimated total risk-based capital, Tier 1 risk-based capital, Common equity Tier 1 risk-based capital, and Tier 1 leverage ratios were 13.37%, 11.73%, 10.77%, and 9.22%"

Common Equity Tier 1 (CET1) risk-based capital is the highest-quality capital a bank holds — mostly common shares and retained profits — measured against the risks in its loan and investment portfolio. Think of it as a financial cushion proportionate to how risky a bank’s activities are; higher CET1 ratios mean stronger ability to absorb losses, making the bank safer for shareholders and creditors and influencing regulatory health assessments and investor confidence.

Purchase Money Note financial

"We returned $600 million to our stockholders through share repurchases and further optimized our balance sheet by prepaying another $2.5 billion of the Purchase Money Note."

Pre-provision net revenue financial

"Pre-provision net revenue (non-GAAP) 896 811 929"

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

Capital call lines financial

"growth concentrated in capital call lines which have a significantly lower loss rate relative to our other loan portfolios."

Capital call lines are short-term loans a fund uses to pay for investments or expenses before it collects committed money from its investors. Think of it like a bridge loan that lets a buyer move quickly while waiting for a promised paycheck; it smooths timing, speeds deal-making, and can reduce the number of immediate requests for cash from investors. For investors, these lines affect a fund’s apparent performance, risk profile, and the timing of when they must provide capital.

Earnings Snapshot

Net income: $672 million · Guidance included

Quarter ended June 30, 2026

Net income $672 million Increased from $534 million in the first quarter of 2026.

Net income available to common $640 million Up from $508 million in the first quarter of 2026.

Net interest income $1.66 billion Increased by $35 million, or 2.2%, from the linked quarter.

Adjusted noninterest income $586 million Rose by $66 million from $520 million in the linked quarter.

Adjusted noninterest expense $1.35 billion Increased by $16 million from $1.33 billion in the linked quarter.

Loans and leases (period-end) $151.03 billion Up $2.34 billion or 1.6% compared to March 31, 2026.

Deposits (period-end) $173.43 billion Up $2.59 billion or 1.5% compared to March 31, 2026.

Net charge-offs $108 million Slightly down from $111 million in the linked quarter.

Guidance

Management provided Q3 2026 and full-year 2026 ranges for end-of-period loans and deposits, net interest income, adjusted noninterest income and expense, net charge-off ratio of 30–40 bps for Q3 and 30–35 bps for 2026, and an effective tax rate of 24.5%–25.5%, inclusive of the expected BMO branch acquisition.

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Understanding 8-K Material Events →

Available on EDGAR 07/23/2026 - 06:32 AM Accepted by SEC EDGAR 07/23/2026 - 06:32 AM

FAQ

What were First Citizens BancShares (FCNCA) earnings for Q2 2026?

Net income was $672 million in Q2 2026, up from $534 million in Q1 2026. Net income available to common stockholders was $640 million, or $55.52 per share, and adjusted net income available to common stockholders was $659 million, or $57.09 per share.

How did FCNCA’s net interest income and margin perform in Q2 2026?

FCNCA generated net interest income of $1.66 billion in Q2 2026, an increase of $35 million from Q1 2026. Net interest margin was 3.10%, while net interest margin excluding purchase accounting accretion was 3.01% in both the current and linked quarters.

What loan and deposit growth did FCNCA report for Q2 2026?

Loans and leases reached $151.03 billion at June 30, 2026, up $2.34 billion or 1.6% from March 31, 2026. Deposits totaled $173.43 billion, an increase of $2.59 billion or 1.5%, driven mainly by growth in Corporate deposits including Direct Bank and brokered balances.

What were FCNCA’s key credit quality metrics in Q2 2026?

FCNCA recorded a $10 million benefit for credit losses in Q2 2026, compared with a $72 million provision in Q1. Net charge-offs were $108 million (0.29% of average loans), nonaccrual loans were $1.45 billion (0.96% of loans), and the allowance was $1.48 billion (0.98% of loans).

What is included in FCNCA’s pending BMO branch acquisition?

Through its subsidiary First Citizens Bank, FCNCA plans to acquire 138 branches from BMO Bank N.A. across several U.S. regions. It expects to assume approximately $5.3 billion in deposits and acquire about $700 million in loans, with completion anticipated during the third quarter of 2026.

What guidance did FCNCA give for 3Q26 and full-year 2026?

FCNCA projected Q3 2026 end-of-period loans of $152–$155 billion and deposits of $179–$182 billion, with net interest income of $1.63–$1.71 billion. For 2026, it guided loans to $153–$157 billion, deposits to $181–$186 billion, net interest income to $6.60–$6.75 billion, and a net charge-off ratio of 30–35 basis points.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of

The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 23, 2026

_________________________________________________________________

First Citizens BancShares, Inc.

(Exact name of registrant as specified in its charter)


Delaware	001-16715	56-1528994
(State or other 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
Depository Shares, Each Representing 1/40th Interest in a Share of 6.625% Non-Cumulative Perpetual Preferred Stock, Series E	FCNCN	Nasdaq Global Select Market

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

Emerging growth company ☐

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

Item 2.02. Results of Operations and Financial Condition.

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

Item 7.01. Regulation FD Disclosure.

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

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

Item 9.01. Financial Statements and Exhibits.

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


Exhibit No.						Description

99.1						Earnings Release Second Quarter 2026

99.2						Investor Presentation Second Quarter 2026

99.3						Financial Supplement Second Quarter 2026

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

Disclosures About Forward-Looking Statements

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

Federal Reserve on BancShares’ capital plans, adverse developments with respect to U.S. or global economic conditions, including significant turbulence in the capital or financial markets, the impact of any sustained or elevated inflationary environment, the impact of any cyberattack, information or security breach, the effect of technological change, including artificial intelligence and digital assets, the impact of implementation and compliance with current or proposed laws, regulations and regulatory interpretations, including potential increased regulatory requirements, limitations, and costs, such as FDIC special assessments, increases to FDIC deposit insurance premiums, changes in regulatory capital requirements, or limitations on credit card interest rates, along with the risk that such laws, regulations and regulatory interpretations may change, the availability of capital and personnel, changes or enhancements BancShares implements with respect to risk management, technology, personnel, financial service offerings, or other areas, and the risks associated with BancShares’ previously completed acquisition transactions, the pending acquisition of 138 branches from BMO Bank N.A., or any future transactions.

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

SIGNATURE

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

First Citizens BancShares, Inc.

(Registrant)

Date:

July 23, 2026

By:

/s/ Craig L. Nix

Craig L. Nix

Chief Financial Officer

NEWS RELEASE

For Immediate Release

Contact:

Deanna Hart

Angela English

July 23, 2026

Investor Relations

Corporate Communications

919-716-2137

803-931-1854

FIRST CITIZENS BANCSHARES REPORTS SECOND QUARTER 2026 EARNINGS

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

Chairman and CEO Frank B. Holding, Jr. said: “Solid return metrics during the second quarter continued to support our strong capital and liquidity positions, driven by balanced loan and deposit growth, resilient credit quality, and disciplined expense management. Return metrics surpassed both our expectations and first quarter results. We returned $600 million to our stockholders through share repurchases and further optimized our balance sheet by prepaying another $2.5 billion of the Purchase Money Note.”

BMO BRANCH ACQUISITION

On October 16, 2025, First-Citizens Bank & Trust Company (“First Citizens Bank”), the wholly owned banking subsidiary of BancShares, announced that it had entered into an agreement to acquire 138 branches from BMO Bank N.A. (“BMO Bank”) located throughout the Midwest, Great Plains and West regions of the U.S. (the “BMO Branch Acquisition”). In connection with the BMO Branch Acquisition, First Citizens Bank expects to assume approximately $5.3 billion in deposits and acquire approximately $700 million in loans. BancShares expects the transaction to be completed during the third quarter of 2026.

FINANCIAL HIGHLIGHTS

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

Net income for the second quarter of 2026 (“current quarter”) was $672 million, compared to $534 million for the first quarter of 2026 (“linked quarter”). Net income available to common stockholders for the current quarter was $640 million, or $55.52 per common share, a $132 million increase from $508 million, or $42.63 per common share, in the linked quarter.

Adjusted net income for the current quarter was $691 million, compared to $560 million for the linked quarter. Adjusted net income available to common stockholders was $659 million, or $57.09 per common share, a $125 million increase from $534 million, or $44.86 per common share, in the linked quarter.

NET INTEREST INCOME AND MARGIN

•Net interest income was $1.66 billion for the current quarter, an increase of $35 million from the linked quarter. Net interest income, excluding PAA, was $1.61 billion, an increase of $26 million from the linked quarter.

◦Interest income on loans increased $47 million, mainly due to a higher yield, a higher average balance, and a $7 million increase in loan PAA.

◦Interest expense on borrowings decreased $18 million, mainly due to a decline in the average balance as we repaid an additional $2.5 billion of the Purchase Money Note.

◦Interest income on investment securities increased $17 million due to a higher yield and a higher average balance.

◦Interest expense on interest-bearing deposits increased $48 million due to a higher average balance and a higher rate paid.

•Net interest margin (“NIM”) was 3.10% for the current quarter, an increase of 1 basis point from the linked quarter. NIM, excluding PAA, was 3.01% in both the current and linked quarters.

◦The yield on average interest-earning assets was 5.34%, an increase of 4 basis points from the linked quarter, mainly due to higher yields on and average balances of loans and investment securities.

◦The rate paid on average interest-bearing liabilities was 2.95%, an increase of 2 basis points from the linked quarter, primarily due to increases in the average balance of and rate paid on interest-bearing deposits, partially offset by the impact of a lower average balance of borrowings.

NONINTEREST INCOME AND EXPENSE

•Noninterest income was $776 million, compared to $692 million in the linked quarter, an increase of $84 million. Adjusted noninterest income was $586 million, an increase of $66 million from the linked quarter.

◦The increases in noninterest income and adjusted noninterest income were primarily due to the following:

▪Other noninterest income increased $50 million, mainly attributable to a $27 million increase in the fair value of derivatives and a $17 million gain on sale of tax credit investments.

▪Client investment fees increased $6 million due to higher volume and average balances.

▪Lending-related fees increased $4 million, largely due to line of credit fees.

▪Deposit fees and service charges increased $4 million, largely attributable to overdraft fees.

◦Additionally, the fair value adjustment on marketable equity securities increased $12 million compared to the linked quarter.

•Noninterest expense was $1.55 billion, an increase of $15 million from the linked quarter. Adjusted noninterest expense was $1.35 billion, an increase of $16 million from the linked quarter. The increases in noninterest expense and adjusted noninterest expense were primarily due to the following:

◦Marketing expense increased $15 million, mostly due to marketing promotions for Direct Bank deposits.

◦Other noninterest expense increased $8 million, largely driven by the timing of charitable contributions.

◦Third-party processing fees and equipment expense increased $7 million and $5 million, respectively, as we continue to invest in our digital infrastructure, data center modernization, and client-facing capabilities.

◦The increases above were partially offset by declines in personnel cost and adjusted personnel cost of $25 million and $21 million, respectively, largely driven by lower incentive compensation and seasonal declines as employees reach annual benefit limits, partially offset by merit increases, one additional payroll day, and higher health insurance claims.

◦The remaining net increase in noninterest expense and adjusted noninterest expense was spread amongst various noninterest expense line items.

BALANCE SHEET SUMMARY

•Loans and leases were $151.03 billion at June 30, 2026, an increase of $2.34 billion or 1.6% compared to $148.69 billion at March 31, 2026, primarily due to loan growth of $2.37 billion in the Commercial Bank segment, mainly concentrated in Global Fund Banking.

•Total investment securities were $43.56 billion at June 30, 2026, an increase of $571 million since March 31, 2026. Purchases during the current quarter remained concentrated in available for sale U.S. treasury and agency mortgage-backed securities.

•Deposits were $173.43 billion at June 30, 2026, an increase of $2.59 billion or 1.5% since March 31, 2026, primarily attributable to growth in Corporate deposits of $4.28 billion, which includes Direct Bank and brokered deposits. Deposit growth was partially offset by a decline of $1.50 billion in Commercial Bank segment deposits.

•Noninterest-bearing deposits decreased by $1.13 billion (2.6% from the linked quarter) and represented 24.5% of total deposits as of June 30, 2026, compared to 25.5% at March 31, 2026. The cost of average total deposits was 2.07% for the current quarter, compared to 2.04% for the linked quarter.

•Borrowings were $32.19 billion at June 30, 2026, a decrease of $1.77 billion compared to $33.96 billion at March 31, 2026, mainly due to a $2.50 billion prepayment of the Purchase Money Note, partially offset by the issuance of $750 million of senior notes during the current quarter.

•The Purchase Money Note declined from $35.85 billion at September 30, 2025 to $28.42 billion at June 30, 2026.

•Funding mix improved as deposits represented 84.3% of total funding at June 30, 2026 compared to 83.4% at March 31, 2026.

•Interest-earning deposits at banks were $21.13 billion at June 30, 2026, a decrease of $2.06 billion compared to $23.19 billion at March 31, 2026, a function of the balance sheet trends discussed above.

PROVISION FOR CREDIT LOSSES AND CREDIT QUALITY

•Benefit for credit losses was $10 million for the current quarter, compared to a provision for credit losses of $72 million for the linked quarter. The current quarter included a provision for loan and lease losses of $34 million that was more than offset by a benefit for off-balance sheet credit exposure of $44 million.

◦The provision for loan and lease losses for the current quarter was $34 million, compared to $103 million for the linked quarter. The $69 million decrease was mainly attributable to the impact of a $74 million reserve release in the current quarter compared to an $8 million reserve release in the linked quarter, partially offset by a decline of $3 million in net charge-offs.

▪The $74 million reserve release in the current quarter was largely driven by lower specific reserves, improvements in credit quality including updates to certain models used to estimate the allowance, changes in the macroeconomic scenarios, and growth concentrated in capital call lines which have a significantly lower loss rate relative to our other loan portfolios.

▪The $8 million reserve release in the linked quarter was driven by loan growth concentrated in capital call lines and changes in the macroeconomic scenarios, partially offset by higher reserves for individually evaluated loans.

◦The benefit for off-balance sheet credit exposure was $44 million, an increase of $12 million from $32 million for the linked quarter, primarily due to the same drivers discussed above for the provision for loan and lease losses.

•Net charge-offs were $108 million (0.29% of average loans) for the current quarter, compared to $111 million (0.30% of average loans) for the linked quarter.

•Nonaccrual loans were $1.45 billion (0.96% of loans) at June 30, 2026, compared to $1.43 billion (0.96% of loans) at March 31, 2026.

•The allowance for loan and lease losses totaled $1.48 billion at June 30, 2026, compared to $1.56 billion at March 31, 2026. The allowance for loan and lease losses as a percentage of loans was 0.98% at June 30, 2026, compared to 1.05% at March 31, 2026.

CAPITAL AND LIQUIDITY

•Capital ratios remained above regulatory requirements. The estimated total risk-based capital, Tier 1 risk-based capital, Common equity Tier 1 risk-based capital, and Tier 1 leverage ratios were 13.37%, 11.73%, 10.77%, and 9.22%, respectively, at June 30, 2026.

•During the current quarter, we repurchased 298,907 shares of our Class A common stock for $600 million and paid a dividend of $2.10 per share on our Class A and Class B common stock. Shares repurchased during the current quarter represented 2.80% of Class A common shares and 2.56% of total Class A and Class B common shares outstanding at March 31, 2026.

◦From inception of the 2024 Share Repurchase Plan through June 30, 2026, we have repurchased 3,141,855 shares of our Class A common stock for $6.19 billion, representing 23.23% of Class A common shares and 21.62% of total Class A and Class B common shares outstanding as of June 30, 2024.

◦As of June 30, 2026, the total capacity remaining under the 2025 Share Repurchase Plan was $1.31 billion.

•Liquidity position remains strong as liquid assets were $59.14 billion at June 30, 2026, compared to $60.72 billion at March 31, 2026.

EARNINGS CALL/ WEBCAST DETAILS

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

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

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

ABOUT FIRST CITIZENS BANCSHARES

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

FORWARD-LOOKING STATEMENTS

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

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

BancShares’ 2025 Share Repurchase Plan announced in July 2025 (“2025 SRP”) allows BancShares to repurchase shares of its Class A common stock through 2026. BancShares is not obligated under the 2025 SRP to repurchase any minimum or particular number of shares, and repurchases may be suspended or discontinued at any time (subject to the terms of any Rule 10b5-1 plan in effect) without prior notice. The authorization to repurchase Class A common stock will be utilized at management’s discretion. The actual timing and amount of Class A common stock that may be repurchased under the 2025

SRP will depend on a number of factors, including the terms of any Rule 10b5-1 plan then in effect, price, general business and market conditions, regulatory requirements, and alternative investment opportunities or capital needs.

NON-GAAP MEASURES

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

First Citizens BancShares, Inc. Second Quarter 2026 Earnings Conference Call July 23, 2026

2 Table of Contents Pages Section I – Second Quarter Overview & Strategic Priorities 4 – 6 Section II – Second Quarter 2026 Financial Results 7 – 26 Financial Highlights 8 – 9 Earnings Highlights 10 Net interest income, margin and betas 11 – 13 Noninterest income and expense 14 – 15 Balance Sheet Highlights 16 Loans and Leases 17 – 18 Deposits 19 – 20 SVB Commercial Funding Trends 21 Funding Mix 22 Credit Quality Trends and Allowance 23 – 24 Capital & Share Repurchase Plan Update 25 – 26 Section III – Financial Outlook 27 – 28 Section IV – Appendix 29 – 41 Section V – Non-GAAP Reconciliations 42 – 50

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

Second Quarter Overview & Strategic Priorities Section I

5 Second Quarter 2026 Snapshot Key Highlights: ■ Strong financial results: • EPS, ROE and ROA results improved over the prior quarter and exceeded expectations. • Sequential expansion in EPS and return metrics driven by higher PPNR (1) and a credit-related reserve release. • Net revenue expansion outpaced expense growth, improving operating efficiency. ■ Strategic balance sheet management: • Balance sheet momentum continued with solid growth in both period end and average loan and deposit balances. • Accomplished off-balance sheet client funds growth on both a period end and average basis. • Continued progress on the FDIC Purchase Money Note, prepaying another $2.5 billion during the quarter. • Issued $750 million of senior bank notes in June. ■ Prudent capital management: • Repurchased $600 million in Class A common shares in the second quarter. Since plan inception in July 2024, we have repurchased $6.3 billion or 23.7% of Class A common shares. (3) Financial Results: Adjusted EPS (1) $57.09 Adjusted ROE / ROA (1) 12.94% / 1.18% NIM 3.10% Adjusted Efficiency Ratio (1) 60.05% Loan Growth (EOP / Avg) (2) 1.6% / 0.7% Deposit Growth (EOP / Avg) (2) 1.5% / 2.8% CET1 Ratio (4) 10.77% (1) Non-GAAP measure: see Section V entitled Non-GAAP Reconciliations. (2) Loan and deposit growth percentages are current quarter compared to the linked quarter. (3) Total repurchases include those since inception of the plan in July 2024 through July 21, 2026. Refer to Share Repurchase Plan Update page for additional details. (4) The CET1 ratio represents a BancShares ratio and is preliminary pending completion of quarterly regulatory filings.

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

Second Quarter 2026 Financial Results Section II

8 2Q26 Financial Results - Takeaways EPS, ROE and ROA improved over first quarter results and exceeded our expectations.1 Returned $600 million in capital to shareholders through the repurchase of Class A common stock. 8 Prepaid an additional $2.5 billion of the FDIC Purchase Money Note. 7 NII and NIM remained resilient, successfully offsetting higher interest-bearing deposit balances and rates. 2 Expense growth was muted, driving results to the low end of our guidance range.3 Credit quality remained resilient, as the NCO ratio improved by 1 basis point sequentially, outperforming our guidance range. 6 Loans grew $2.3 billion or by 1.6% over the linked quarter, led by Global Fund Banking. 4 Deposits increased $2.6 billion or by 1.5% over the linked quarter driven primarily by growth in the Direct Bank, supplemented by brokered deposits. 5

9 2Q26 1Q26 2Q25 EPS (basic and diluted) $ 55.52 $ 57.09 $ 42.63 $ 44.86 $ 42.36 $ 44.78 ROE 12.58 % 12.94 % 9.88 % 10.39 % 10.41 % 11.00 % ROTCE (non-GAAP) 12.92 13.28 10.14 10.67 10.69 11.30 ROA 1.15 1.18 0.93 0.97 1.01 1.07 PPNR ROA (non-GAAP) 1.50 1.53 1.35 1.41 1.54 1.64 NIM 3.10 3.10 3.09 3.09 3.26 3.26 NIM, ex PAA (non-GAAP) 3.01 3.01 3.01 3.01 3.14 3.14 NCO ratio 0.29 0.29 0.30 0.30 0.33 0.33 Efficiency ratio 63.75 60.05 66.41 62.13 63.22 57.92 Reported Adjusted (Non-GAAP) Reported Adjusted (Non-GAAP) Reported Adjusted (Non-GAAP) Financial Highlights Note – Adjusted columns, ROTCE, PPNR ROA and NIM, ex PAA represent non-GAAP measures: see Section V entitled Non-GAAP Reconciliations.

10 Reported Increase (decrease) 2Q26 vs 1Q26 (1) 2Q26 vs 2Q25 (1) 2Q26 1Q26 2Q25 $ % $ % Net interest income $ 1,656 $ 1,621 $ 1,695 $ 35 2.2 % $ (39) (2.3) % Noninterest income 776 692 678 84 12.1 98 14.5 Net revenue 2,432 2,313 2,373 119 5.1 59 2.5 Noninterest expense 1,551 1,536 1,500 15 0.9 51 3.3 Pre-provision net revenue (2) 881 777 873 104 13.4 8 1.0 (Benefit) provision for credit losses (10) 72 115 (82) (113.9) (125) (108.7) Income before income taxes 891 705 758 186 26.4 133 17.6 Income tax expense 219 171 183 48 27.6 36 19.6 Net income 672 534 575 138 26.1 97 17.0 Preferred stock dividends 32 26 14 6 27.2 18 123.2 Net income available to common stockholders $ 640 $ 508 $ 561 $ 132 26.0 % $ 79 14.2 % Adjustments for notable items 2Q26 1Q26 2Q25 Noninterest income $ (190) $ (172) $ (165) Noninterest expense (205) (206) (221) Income tax expense (4) 8 24 Adjusted (Non-GAAP) (2) Increase (decrease) 2Q26 vs 1Q26 (1) 2Q26 vs 2Q25 (1) 2Q26 1Q26 2Q25 $ % $ % Net interest income $ 1,656 $ 1,621 $ 1,695 $ 35 2.2 % $ (39) (2.3) % Noninterest income 586 520 513 66 13.0 73 14.4 Net revenue 2,242 2,141 2,208 101 4.7 34 1.5 Noninterest expense 1,346 1,330 1,279 16 1.3 67 5.3 Pre-provision net revenue (2) 896 811 929 85 10.5 (33) (3.6) (Benefit) provision for credit losses (10) 72 115 (82) (113.9) (125) (108.7) Income before income taxes 906 739 814 167 22.6 92 11.2 Income tax expense 215 179 207 36 20.6 8 3.8 Net income 691 560 607 131 23.3 84 13.8 Preferred stock dividends 32 26 14 6 27.2 18 123.2 Net income available to common stockholders $ 659 $ 534 $ 593 $ 125 23.1 % $ 66 11.1 % Quarterly Earnings Highlights ($ in millions) (1) Percent change is calculated using unrounded numbers and therefore may not recalculate precisely using the displayed rounded amounts. (2) Non-GAAP measure: see Section V entitled Non-GAAP Reconciliations.

11 $1,629 $1,673 $1,673 $1,582 $1,608 3.14% 3.15% 3.11% 3.01% 3.01% NII, ex PAA (Non-GAAP) NIM, ex PAA (Non-GAAP) 2Q25 3Q25 4Q25 1Q26 2Q26 $1,695 $1,734 $1,722 $1,621 $1,656 3.26% 3.26% 3.20% 3.09% 3.10% NII NIM 2Q25 3Q25 4Q25 1Q26 2Q26 $35 million & 1 bp Net interest income and margin ($ in millions) $26 million & 0 bps (1) (1) Change vs 2Q26 1Q26 2Q25 1Q26 2Q25 Avg Balance Income / Expense Yield / Rate Avg Balance Income / Expense Yield / Rate Avg Balance Income / Expense Yield / Rate Avg Balance Income / Expense Yield / Rate Avg Balance Income / Expense Yield / Rate Loans and leases (2) (3) $ 149,275 $ 2,253 6.05 % $ 148,666 $ 2,206 6.01 % $ 140,699 $ 2,270 6.47 % $ 609 $ 47 0.04 % $ 8,576 $ (17) (0.42) % Investment securities and reverse repos 43,214 401 3.72 42,062 384 3.67 44,172 419 3.79 1,152 17 0.05 (958) (18) (0.07) Interest-earning deposits at banks 21,501 197 3.67 21,824 196 3.64 23,304 256 4.40 (323) 1 0.03 (1,803) (59) (0.73) Total interest-earning assets (3) $ 213,990 $ 2,851 5.34 % $ 212,552 $ 2,786 5.30 % $ 208,175 $ 2,945 5.67 % $ 1,438 $ 65 0.04 % $ 5,815 $ (94) (0.33) % Interest-bearing deposits $ 129,385 $ 881 2.73 % $ 125,203 $ 833 2.70 % $ 118,582 $ 894 3.02 % $ 4,182 $ 48 0.03 % $ 10,803 $ (13) (0.29) % Total borrowings 33,229 314 3.78 35,334 332 3.76 38,379 356 3.71 (2,105) (18) 0.02 (5,150) (42) 0.07 Total interest-bearing liabilities $ 162,614 $ 1,195 2.95 % $ 160,537 $ 1,165 2.93 % $ 156,961 $ 1,250 3.19 % $ 2,077 $ 30 0.02 % $ 5,653 $ (55) (0.24) % Net interest income $ 1,656 $ 1,621 $ 1,695 $ 35 $ (39) Net interest spread (3) 2.39 % 2.37 % 2.48 % 0.02 % (0.09) % Net interest margin (3) 3.10 % 3.09 % 3.26 % 0.01 % (0.16) % Note – Certain items above do not precisely recalculate as presented due to rounding. (1) Non-GAAP measure: see Section V entitled Non-GAAP Reconciliations. (2) Loans and leases include nonaccrual loans and loans held for sale. Interest income on loans and leases includes loan PAA income and loan fees. (3) The average balances and yields for loans and leases are calculated net of average credit balances of factoring clients to appropriately reflect the interest-earning portion of factoring receivables.

12 3.26% 0.17% 0.14% 0.10% (0.25)% (0.12)% (0.11)% (0.05)% (0.04)% 3.10% 2Q25 Deposit rate Loan volume Debt volume Loan yield FFS yield / volume Deposit volume Investment yield / volume PAA 2Q26 2Q25 to 2Q26 (-16 bps) NIM Rollforward 3.09% 0.04% 0.01% 0.01% 0.01% (0.04)% (0.02)% 3.10% 1Q26 Debt volume Investment yield / volume Loan yield / volume PAA Deposit volume Deposit rate 2Q26 1Q26 to 2Q26 (1 bp)

13 Deposit Betas Highlights • Our total cumulative deposit beta in the tightening cycle peaked in August 2024 prior to the September rate cuts. • Deposit betas are currently modeled to have a portfolio average of approximately 35%-40% over the twelve-month forecast horizon, including 45%-50% for interest-bearing non-maturity deposits. • Mid/higher beta categories: ◦ > 30% beta on Direct Bank and SVB Commercial money market, savings and time deposit accounts. ◦ 20% to 30% beta on Branch Network commercial money market accounts and Community Association Banking checking with interest and money market accounts. • Lower beta categories: ◦ 0% to 20% beta on total noninterest bearing deposits and Branch Network consumer money market accounts, checking with interest and savings accounts. 23% 30% 37% 42% 45% 46% 47% 12% 20% 34% 39% 39% 38% 35% 34%31% 46% 53% 58% 61% 63% 64% 16% 26% 49% 56% 56% 52% 50% 49% 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 - Jul/Aug 3Q24 - Sep 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 Tightening Cycle Easing Cycle Terminal beta 42% 43% 42% 42% 41% 58% 57% 58% 58% 59% Mid/higher beta categories Lower beta categories 2Q25 3Q25 4Q25 1Q26 2Q26 Total Deposits Actual cumulative beta Actual cumulative beta IBD

14 $678 $699 $715 $692 $776 $513 $518 $529 $520 $586 $165 $181 $186 $172 $190 2Q25 3Q25 4Q25 1Q26 2Q26 Noninterest income ($ in millions) Adjusted (Non-GAAP) (1) Notable items (2) Note – Percent changes above are based on unrounded amounts and may not recalculate precisely using the displayed rounded amounts. (1) Non-GAAP measure: see Section V entitled Non-GAAP Reconciliations. (2) Refer to Section V for notable item details. Noninterest income Increase (decrease) 2Q26 vs 1Q26 2Q26 vs 2Q25 2Q26 1Q26 4Q25 3Q25 2Q25 $ % $ % Total reported noninterest income $ 776 $ 692 $ 715 $ 699 $ 678 $ 84 12.1 % $ 98 14.5 % Notable items (2) 190 172 186 181 165 18 10.5 25 15.2 Total adjusted noninterest income (1) $ 586 $ 520 $ 529 $ 518 $ 513 $ 66 13.0 % $ 73 14.4 % Adjusted rental income on operating lease equipment (1) $ 112 $ 115 $ 115 $ 108 $ 117 $ (3) (2.3) % $ (5) (4.4) % Lending-related fees 73 69 64 67 69 4 4.4 4 4.5 Deposit fees and service charges 74 70 63 61 59 4 5.1 15 24.2 Client investment fees 59 53 54 58 52 6 13.8 7 16.7 Wealth management services 62 59 61 57 55 3 4.5 7 12.3 International fees 36 35 37 34 33 1 (0.4) 3 8.3 Factoring commissions 18 17 20 18 18 1 8.1 — — Cardholder services, net 38 38 37 39 41 — — (3) (6.6) Merchant services, net 13 13 13 12 13 — — — — Insurance commissions 13 13 12 13 14 — — (1) (9.0) Other noninterest income 88 38 53 51 42 50 138.1 46 109.7

15 $1,500 $1,491 $1,572 $1,536 $1,551 $1,279 $1,279 $1,368 $1,330 $1,346 $221 $212 $204 $206 $205 2Q25 3Q25 4Q25 1Q26 2Q26 Noninterest expense ($ in millions) Note – Percent changes above are based on unrounded amounts and may not recalculate precisely using the displayed rounded amounts. (1) Non-GAAP measure: see Section V entitled Non-GAAP Reconciliations. (2) Refer to Section V for notable item details. Adjusted (Non-GAAP) (1) Notable items (2) Noninterest expense Increase (decrease) 2Q26 vs 1Q26 2Q26 vs 2Q25 2Q26 1Q26 4Q25 3Q25 2Q25 $ % $ % Total reported noninterest expense $ 1,551 $ 1,536 $ 1,572 $ 1,491 $ 1,500 $ 15 0.9 % $ 51 3.3 % Notable items 205 206 204 212 221 (1) (0.5) (16) (7.2) Total adjusted noninterest expense (1) $ 1,346 $ 1,330 $ 1,368 $ 1,279 $ 1,279 $ 16 1.3 % $ 67 5.3 % Personnel cost $ 836 $ 857 $ 849 $ 811 $ 810 $ (21) (2.5) % $ 26 3.2 % Net occupancy expense 59 60 61 58 61 (1) (0.9) (2) (3.3) Equipment expense 141 136 151 137 131 5 3.3 10 7.1 Professional fees 21 18 34 26 30 3 18.0 (9) (28.5) Third-party processing fees 100 93 75 67 63 7 6.4 37 56.2 FDIC insurance expense 39 38 39 38 38 1 — 1 0.9 Marketing expense 45 30 45 33 32 15 48.9 13 39.7 Other noninterest expense 105 $ 98 $ 114 $ 109 $ 114 7 10.9 (9) (4.9)

16 Increase (decrease) 2Q26 vs 1Q26 2Q26 vs 2Q25 SELECT PERIOD END BALANCES 2Q26 1Q26 2Q25 $ % $ % Interest-earning deposits at banks $ 21,132 $ 23,189 $ 26,184 $ (2,057) (35.6) % $ (5,052) (19.4) % Investment securities 43,557 42,986 43,346 571 5.3 211 0.5 Loans and leases 151,034 148,692 141,269 2,342 6.3 9,765 6.9 Operating lease equipment, net (2) 9,755 9,685 9,466 70 2.9 289 3.1 Deposits 173,427 170,842 159,935 2,585 6.1 13,492 8.4 Noninterest-bearing deposits 42,475 43,606 40,879 (1,131) (10.4) 1,596 3.9 Off-balance sheet client funds 80,624 77,794 63,897 2,830 14.6 16,727 26.2 Borrowings 32,188 33,962 38,112 (1,774) (20.9) (5,924) (15.5) Tangible common equity (non-GAAP) (3) 19,618 19,755 20,848 (137) (2.8) (1,230) (5.9) Common equity 20,135 20,283 21,415 (148) (2.9) (1,280) (6.0) Stockholders' equity 21,900 22,048 22,296 (148) (2.7) (396) (1.8) Increase (decrease) KEY METRICS 2Q26 1Q26 2Q25 2Q26 vs 1Q26 2Q26 vs 2Q25 CET1 ratio 10.77 % 10.83 % 12.12 % (0.06) % (1.35) % Book value per common share $ 1,767.79 $ 1,735.18 $ 1,637.72 $ 32.61 $ 130.07 Tangible book value per common share (non-GAAP) (3) 1,722.35 1,689.96 1,594.38 32.39 127.97 Tangible common equity to tangible assets (non-GAAP) (3) 8.30 % 8.39 % 9.10 % (0.09) % (0.80) % Loan to deposit ratio 87.09 87.04 88.33 0.05 (1.24) ALLL to total loans and leases 0.98 1.05 1.18 (0.07) (0.20) Noninterest-bearing deposits to total deposits 24.49 25.52 25.56 (1.03) (1.07) Uninsured deposits 38 % 38 % 36 % — % 2 % Total liquid assets (available cash + HQLS) $ 59,138 $ 60,722 $ 63,616 $ (1,584) $ (4,478) Total liquidity (liquid assets & contingent sources) 89,660 91,015 92,129 (1,355) (2,469) Total liquidity / uninsured deposits 138 % 139 % 159 % (1) % (21) % Balance Sheet Highlights ($ in millions, except per share data) (1) (1) Note – The above CET1 ratio represents BancShares ratio and is preliminary pending completion of quarterly regulatory filings. (1) Percent change is calculated using unrounded numbers and therefore may not recalculate precisely using the displayed rounded amounts. The linked quarter change is annualized. (2) Operating lease equipment, net includes $9.0 billion of rail assets as of 2Q26. (3) Non-GAAP measure: see Section V entitled Non-GAAP Reconciliations.

17 $141,269 $144,758 $147,930 $148,692 $151,034 $76,282 $79,533 $82,972 $84,325 $86,679 $64,987 $65,225 $64,958 $64,367 $64,355 Commercial Bank General Bank 2Q25 3Q25 4Q25 1Q26 2Q26 Note – Commercial Bank includes a small amount of Rail loans (less than $100 million in all periods). Rail operating lease assets are not included in the loan totals. $148,692 $2,354 $(12) $151,034 1Q26 Commercial Bank General Bank 2Q26 $149,121 $1,472 $(499) $150,094 1Q26 Commercial Bank General Bank 2Q26 Average RollforwardPeriod End Rollforward Average LoansPeriod End Loans $141,791 $142,857 $146,944 $149,121 $150,094 $76,842 $77,798 $81,620 $84,237 $85,709 $64,949 $65,059 $65,324 $64,884 $64,385 Commercial Bank General Bank Yield on loans 2Q25 3Q25 4Q25 1Q26 2Q26 6.44% 6.24% 6.01% 6.05%6.47% Loans and Leases ($ in millions) $2.3 billion or 1.6% $973 million or 0.7%

18 29% 7% 6% 32% 22% 4% Branch Network & Other ($43.8) Wealth & Private Banking ($11.2) Mortgage ($9.3) SVB Commercial ($48.1) Commercial Finance & Middle Market Banking ($32.8) Equipment Finance ($5.8) Loans and Leases Composition Period End Balances ($ in millions) Increase (decrease) 2Q26 vs 1Q26 2Q26 vs 2Q25 2Q26 1Q26 2Q25 $ % $ % Branch Network & Other (2) $ 43,847 $ 43,851 $ 43,800 $ (4) — % $ 47 0.1 % Wealth & Private Banking 11,163 11,110 10,909 53 1.9 254 2.3 Mortgage 9,345 9,406 10,278 (61) (2.6) (933) (9.1) General Bank Segment (2) 64,355 64,367 64,987 (12) (0.1) (632) (1.0) SVB Commercial 48,100 45,367 37,530 2,733 24.2 10,570 28.2 Commercial Finance & Middle Market Banking 32,810 33,144 32,755 (334) (4.0) 55 0.2 Equipment Finance 5,769 5,814 5,997 (45) (3.1) (228) (3.8) Commercial Bank Segment (3) 86,679 84,325 76,282 2,354 11.2 10,397 13.6 Total Loans $ 151,034 $ 148,692 $ 141,269 $ 2,342 6.3 % $ 9,765 6.9 % Note – Totals may not foot due to rounding. (1) Percent change is calculated using unrounded numbers and therefore may not recalculate precisely using the displayed rounded amounts. The linked quarter change is annualized. (2) 1Q26 includes the impact of a transfer of loans to held for sale from the SBA portfolio within Branch Network & Other, reducing period end balances by approximately $364 million. (3) Commercial Bank includes a small amount of Rail loans (less than $100 million in all periods). Rail operating lease assets are not included in the loan totals. Segment / Business ($ in billions) Commercial Bank: (3) General Bank: Class ($ in billions) 31% 23% 16% 15% 12% 2% 1% Commercial and industrial ($46.6) Capital call lines ($34.2) Residential and revolving mortgage ($24.4) Commercial real estate ($23.2) Owner occupied commercial mortgage ($17.9) Investor dependent ($2.6) Auto and other consumer ($2.1) (1) (1)

19 $159,935 $163,190 $161,578 $170,842 $173,427 $119,056 $120,438 $120,925 $127,236 $130,952 $40,879 $42,752 $40,653 $43,606 $42,475 Interest-bearing Noninterest-bearing 2Q25 3Q25 4Q25 1Q26 2Q26 Deposits ($ in millions) $157,664 $160,624 $163,191 $165,927 $170,639 $118,582 $120,575 $121,433 $125,203 $129,385 $39,082 $40,049 $41,758 $40,724 $41,254 Interest-bearing Noninterest-bearing Cost of deposits 2Q25 3Q25 4Q25 1Q26 2Q26 $170,842 $3,716 $(1,131) $173,427 1Q26 Interest- bearing Noninterest- bearing 2Q26 $165,927 $4,182 $530 $170,639 1Q26 Interest- bearing Noninterest- bearing 2Q26 2.25% 2.09% 2.04% 2.07%2.27% Period End Deposits Average Deposits Period End Rollforward Average Rollforward $2.6 billion or 1.5% $4.7 billion or 2.8%

20 37% 5% 2%24% 2% 28% 2% Branch Network & Other ($63.5) Community Association Banking ($8.5) Wealth & Private Banking ($3.8) SVB Commercial ($42.5) Other ($3.2) Direct Bank ($48.2) Brokered Deposits & Other ($3.8) Segment / Business ($ in billions)Type ($ in billions) 52% 24% 15% 9% Money market & savings ($90.0) Noninterest-bearing demand ($42.5) Checking with interest ($25.8) Time deposits ($15.1) Commercial Bank: (2) General Bank: Corporate: Period End Balances ($ in millions) Increase (decrease) 2Q26 vs 1Q26 2Q26 vs 2Q25 2Q26 1Q26 2Q25 $ % $ % Branch Network & Other $ 63,479 $ 63,834 $ 61,943 $ (355) (2.2) % $ 1,536 2.5 % Community Association Banking 8,450 8,306 8,008 144 7.0 442 5.5 Wealth & Private Banking 3,789 3,774 3,548 15 1.6 241 6.8 General Bank Segment 75,718 75,914 73,499 (196) (1.0) 2,219 3.0 SVB Commercial 42,529 44,011 37,798 (1,482) (13.5) 4,731 12.5 Other 3,163 3,182 2,902 (19) (2.4) 261 9.0 Commercial Bank Segment (2) 45,692 47,193 40,700 (1,501) (12.8) 4,992 12.3 Direct Bank 48,222 45,408 45,111 2,814 24.9 3,111 6.9 Brokered Deposits & Other 3,795 2,327 625 1,468 NM 3,170 NM Corporate 52,017 47,735 45,736 4,282 36.0 6,281 13.7 Total Deposits $ 173,427 $ 170,842 $ 159,935 $ 2,585 6.1 % $ 13,492 8.4 % Deposit Composition Note – Totals may not foot due to rounding. (1) Percent change is calculated using unrounded numbers and therefore may not recalculate precisely using the displayed rounded amounts. The linked quarter change is annualized. (2) Commercial Bank includes a small amount of Rail deposits (less than $50 million in all periods). (1) (1)

21 39 36 43 48 72 80 79 92 75 65 45 39 37 35 36 32 39 41 39 43 46 49 53 56 65 58 40 39 49 48 81 87 90 101 80 71 46 40 56 37 36 38 39 48 44 85 90 86 70 73 144 Deals Under $1B Total Deal Value ($B) 1Q 20 2Q 20 3Q 20 4Q 20 1Q 21 2Q 21 3Q 21 4Q 21 1Q 22 2Q 22 3Q 22 4Q 22 1Q 23 2Q 23 3Q 23 4Q 23 1Q 24 2Q 24 3Q 24 4Q 24 1Q 25 2Q 25 3Q 25 4Q 25 1Q 26 2Q 26 US VC investment (1) Total client funds (Avg)Total client funds (EOP) SVB Commercial Funding Trends ($ in billions) $101.7 $106.9 $108.1 $121.8 $122.9 $63.9 $67.0 $69.7 $77.8 $80.4 $37.8 $39.9 $38.4 $44.0 $42.5 Off-balance sheet client funds Deposits 2Q25 3Q25 4Q25 1Q26 2Q26 $97.3 $103.1 $107.7 $113.7 $119.8 $61.8 $65.4 $68.5 $72.4 $77.9 $35.5 $37.7 $39.2 $41.3 $41.9 Off-balance sheet client funds Deposits 2Q25 3Q25 4Q25 1Q26 2Q26 $1.1 billion or 1.0% $6.1 billion or 5.3% (1) US VC investment data is sourced using PitchBook Data, Inc. as of 6/30/2026 and subject to prior period revisions. 269

22 3.19% 3.16% 3.03% 2.93% 2.95% 3.02% 3.00% 2.81% 2.70% 2.73% 2.27% 2.25% 2.09% 2.04% 2.07% Cost of interest-bearing liabilities Cost of interest-bearing deposits Cost of deposits 2Q25 3Q25 4Q25 1Q26 2Q26 0.00% 0.50% 1.00% 1.50% 2.00% 2.50% 3.00% 3.50% 4.00% 4.50% Cost of funds Period End Balances Increase (decrease) 2Q26 1Q26 4Q25 3Q25 2Q25 2Q26 vs 1Q26 2Q26 vs 2Q25 Total deposits $ 173,427 84.3 % $ 170,842 83.4 % $ 161,578 81.8 % $ 163,190 80.8 % $ 159,935 80.8 % $ 2,585 $ 13,492 Securities sold under customer repurchase agreements 152 0.1 170 0.1 224 0.1 423 0.2 471 0.2 (18) (319) Purchase money note 28,423 13.8 30,905 15.1 33,385 16.9 35,854 17.8 35,841 18.1 (2,482) (7,418) FHLB borrowings — — — — — — — — — — — — Subordinated debt 1,744 0.8 1,764 0.9 1,772 0.9 1,775 0.9 1,182 0.6 (20) 562 Senior unsecured borrowings 1,784 0.9 1,050 0.5 555 0.3 555 0.3 555 0.3 734 1,229 Other borrowings 85 — 73 — 72 — 68 — 63 — 12 22 Total deposits and borrowed funds $ 205,615 100 % $ 204,804 100 % $ 197,586 100 % $ 201,865 100 % $ 198,047 100 % $ 811 $ 7,568 Funding Mix ($ in millions) Highlights • Prepaid $2.5 billion of the FDIC Purchase Money Note during the quarter bringing total repayments to $7.5 billion through the end of the second quarter. • Successfully completed the issuance of $750 million of fixed-to- floating rate senior bank notes during the quarter. • Given continued deposit growth and the net reduction in total borrowings, funding mix improved and approximately 84% of our total funding is now provided by deposits. • Total cost of deposits and cost of interest-bearing deposits both increased by 3 basis points from the linked quarter. Note – Funding mix percentages may not foot due to rounding.

23 $115 $191 $54 $72 $(10) 2Q25 3Q25 4Q25 1Q26 2Q26 Credit Quality Trends and Allowance ($ in millions) Net charge-offs & NCO ratio Provision (benefit) for credit losses $119 $234 $143 $111 $108 0.33% 0.65% 0.39% 0.30% 0.29% NCO $ QTD NCO ratio YTD NCO ratio 2Q25 3Q25 4Q25 1Q26 2Q26 Nonaccrual loans / total loans & leases Allowance & ALLL ratio $1,672 $1,652 $1,566 $1,558 $1,484 1.18% 1.14% 1.06% 1.05% 0.98% ALLL ALLL ratio 2Q25 3Q25 4Q25 1Q26 2Q26 0.29%0.37% 0.47% 0.45% 0.30% $1,319 $1,406 $1,307 $1,429 $1,446 0.93% 0.97% 0.88% 0.96% 0.96% Nonaccrual loans Nonaccrual loans to total loans 2Q25 3Q25 4Q25 1Q26 2Q26 (1) 3Q25 includes an $82 million individual client charge-off in the Commercial Services business within the Commercial Bank segment. This loss contributed 23 bps to the 3Q25 NCO ratio, 8 bps to the 3Q25 YTD NCO ratio, and impacted the quarterly provision for credit losses by $82 million. (2) The $82 million individual client charge-off in 3Q25 contributed 6 bps to the 2025 YTD NCO ratio. (1) (1) (2)

24 $1,558 $(31) $(18) $(17) $(8) $1,484 1Q26 Specific reserves Credit quality Economic scenarios Portfolio changes 2Q26 Highlights 2Q26 vs 1Q26 • ALLL decreased $74 million from the linked quarter. • The decrease compared to the linked quarter was driven by lower specific reserves, improvements in credit quality including updates to certain models used to estimate the allowance, changes in the macroeconomic scenarios, and growth concentrated in capital call lines which have a significantly lower loss rate relative to our other loan portfolios. • The ALLL covered annualized net charge-offs 3.4 times. The ALLL provided 1.0 times coverage of nonaccrual loans. ALLL Coverage 3.5x 1.7x 2.7x 3.5x 3.4x 1.3x 1.2x 1.2x 1.1x 1.0x ALLL ratio / NCO ratio ALLL / Nonaccrual loans 2Q25 3Q25 4Q25 1Q26 2Q26 1Q26 to 2Q26 Allowance for loan and lease losses ($ in millions)

25 Risk-based capital ratios Capital ratio rollforward Tier 1 Leverage ratio Tangible book value per share (1) Capital Risk-Based Capital Tier 1 Leverage Total Tier 1 CET1 March 31, 2026 13.51 % 11.79 % 10.83 % 9.30 % Net income 0.37 % 0.37 % 0.37 % 0.29 % Change in risk-weighted/average assets -0.08 % -0.07 % -0.06 % -0.09 % Share repurchases -0.33 % -0.33 % -0.33 % -0.26 % Tier 2 Instrument call/phase outs -0.01 % 0.00 % 0.00 % 0.00 % Common dividends -0.01 % -0.01 % -0.01 % -0.01 % Preferred dividends -0.02 % -0.02 % -0.02 % -0.01 % Other -0.06 % 0.00 % -0.01 % 0.00 % June 30, 2026 13.37 % 11.73 % 10.77 % 9.22 % Change since March 31, 2026 -0.14 % -0.06 % -0.06 % -0.08 % 12.12% 11.65% 11.15% 10.83% 10.77% 12.63% 12.15% 11.91% 11.79% 11.73% 14.25% 14.05% 13.71% 13.51% 13.37% 2Q25 3Q25 4Q25 1Q26 2Q26 $1,674.11 $102.91 ($27.47) ($23.00) ($4.20) $1,722.35 4Q25 Retained earnings AOCI Share repurchases Common dividends 2Q26 Note – The above capital ratios represent BancShares ratios and are preliminary pending completion of quarterly regulatory filings. (1) Non-GAAP measure: see Section V entitled Non-GAAP Reconciliations. 9.62% 9.34% 9.29% 9.30% 9.22% Tier 1 Leverage ratio 2Q25 3Q25 4Q25 1Q26 2Q26 CET1 Tier 1 Total

26 Share Repurchase Plan Update • Since announcing a share repurchase plan in July 2024, we have repurchased 23.69% of Class A common shares and 22.05% of total common shares that were outstanding (1) as of June 30, 2024. • During the third quarter of 2025 we fully utilized the $3.5 billion share repurchase plan announced in July 2024 and subsequently began repurchasing shares under the $4.0 billion share repurchase plan announced in July 2025. • As of June 30, 2026 we had used 67% of the $4.0 billion share repurchase plan announced in July 2025 and had $1.3 billion of remaining repurchase capacity. Highlights Class A Common Shares Outstanding Repurchase Summary (through 7/21/26) Period Shares Average Price Total Cost ($ in millions) 2024 814,641 $ 2,041.35 $ 1,663 2025 1,578,462 1,917.07 3,026 1Q26 449,845 2,000.67 900 2Q26 298,907 2,006.36 600 07/01/26 to 07/21/26 62,636 2,095.26 131 Total 3,204,491 $ 1,972.21 $ 6,320 13,524,550 (814,641) (1,578,462) (811,388) 10,320,059 6/30/2024 Repurchased 2024 Repurchased 2025 Repurchased 2026 YTD 7/21/2026 (1) Total common shares outstanding includes 1,005,185 of Class B common shares outstanding as of June 30, 2024 and July 21, 2026.

Financial Outlook Section III

28 Metric 2Q26 3Q26 - Projected FY26 - Projected Loans and leases - EOP $151.0 billion $152 billion - $155 billion $153 billion - $157 billion Deposits - EOP $173.4 billion $179 billion - $182 billion $181 billion - $186 billion Interest rates Unchanged in 3Q26 Zero to one 25 bps rate hike in 2026; Fed funds ending between 3.50% - 4.00% Net interest income $1.7 billion $1.63 billion - $1.71 billion $6.60 billion - $6.75 billion Net charge-off ratio (annualized where applicable) 29 bps 30 bps - 40 bps 30 bps - 35 bps Adjusted noninterest income $586 million (1) $520 million - $560 million $2.14 billion - $2.22 billion Adjusted noninterest expense $1.35 billion (1) $1.33 billion - $1.37 billion $5.34 billion - $5.41 billion Effective tax rate 24.5% 24.5% - 25.5% 24.5% - 25.5% Key Earnings Estimate Assumptions (1) Non-GAAP measure: see Section V entitled Non-GAAP Reconciliations. Note - Management does not provide a reconciliation for forward-looking non-GAAP financial measures where it is unable to provide a meaningful or accurate calculation or estimation of reconciling items and the information is not available without unreasonable effort. This is due to the inherent difficulty of forecasting the occurrence and the financial impact of various items that have not yet occurred, are out of BancShares’ control, or cannot be reasonably predicted. For the same reasons, management is unable to address the probable significance of the unavailable information. Forward-looking non-GAAP financial measures provided without the most directly comparable GAAP financial measures may vary materially from the corresponding GAAP financial measures. Changes in the operating environment could introduce select risks to these assumptions. Please see important notices on forward looking statements found on page 3 for additional detail on inherent risks, uncertainties, changes in circumstances and other factors that are difficult to predict. Key Earnings Estimate Assumptions for 3Q26 and FY26 are inclusive of the BMO Bank N.A. branch acquisition expected to close by the end of the third quarter of 2026.

Appendix Section IV

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

31 Glossary of Abbreviations and Acronyms The following is a list of certain abbreviations and acronyms used throughout this document. AFS – Available for Sale ALLL – Allowance for Loan and Lease Losses AOCI – Accumulated Other Comprehensive Income bps – Basis point(s); 1 bp = 0.01% C&I – Commercial and Industrial CET1 – Common Equity Tier 1 Risk-based Capital EOP – End of Period EPS – Earnings Per Share FDIC – Federal Deposit Insurance Corporation FFS – Fed Funds Sold FHLB – Federal Home Loan Bank GAAP – United States Generally Accepted Accounting Principles HQLS – High-Quality Liquid Securities HTM – Held to Maturity IBD – Interest-Bearing Deposits LP – Limited Partner NCO – Net Charge-Off NDFI – Non-Depository Financial Institution NII – Net Interest Income NIM – Net Interest Margin NM – Not Meaningful PAA – Purchase Accounting Accretion or Amortization PE – Private Equity PPNR – Pre-Provision Net Revenue QTD – Quarter-to-date ROA – Return on Average Assets ROE – Return on Average Common Stockholders’ Equity ROTCE – Return on Average Tangible Common Stockholders’ Equity SBA – Small Business Administration VC – Venture Capital YTD – Year-to-date

32 Jun 30, 2026 Mar 31, 2026 Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 ASSETS Cash and due from banks $ 1,519 $ 1,080 $ 801 $ 874 $ 889 Interest-earning deposits at banks 21,132 23,189 19,801 24,798 26,184 Securities purchased under agreements to resell 737 223 232 83 300 Investment in marketable equity securities 156 130 127 110 97 Investment securities available for sale 33,983 33,314 31,790 34,963 33,060 Investment securities held to maturity 9,418 9,542 9,647 10,051 10,189 Assets held for sale 93 1,122 804 112 125 Loans and leases 151,034 148,692 147,930 144,758 141,269 Allowance for loan and lease losses (1,484) (1,558) (1,566) (1,652) (1,672) Loans and leases, net of allowance for loan and lease losses 149,550 147,134 146,364 143,106 139,597 Operating lease equipment, net 9,755 9,685 9,621 9,446 9,466 Premises and equipment, net 2,523 2,499 2,447 2,283 2,115 Goodwill 346 346 346 346 346 Other intangible assets, net 171 182 195 208 221 Other assets 7,459 7,513 7,523 7,108 7,064 Total assets $ 236,842 $ 235,959 $ 229,698 $ 233,488 $ 229,653 LIABILITIES Deposits: Noninterest-bearing $ 42,475 $ 43,606 $ 40,653 $ 42,752 $ 40,879 Interest-bearing 130,952 127,236 120,925 120,438 119,056 Total deposits 173,427 170,842 161,578 163,190 159,935 Credit balances of factoring clients 1,339 1,284 1,148 1,326 1,077 Short-term borrowings 152 170 224 423 471 Long-term borrowings 32,036 33,792 35,784 38,252 37,641 Total borrowings 32,188 33,962 36,008 38,675 38,112 Other liabilities 7,988 7,823 8,726 8,311 8,233 Total liabilities 214,942 213,911 207,460 211,502 207,357 STOCKHOLDERS’ EQUITY Preferred stock 1,765 1,765 1,375 881 881 Common stock 11 12 12 13 13 Additional paid in capital — — — 270 1,179 Retained earnings 20,354 20,343 20,768 20,866 20,337 Accumulated other comprehensive loss (230) (72) 83 (44) (114) Total stockholders’ equity 21,900 22,048 22,238 21,986 22,296 Total liabilities and stockholders’ equity $ 236,842 $ 235,959 $ 229,698 $ 233,488 $ 229,653 BancShares Balance Sheets (unaudited) ($ in millions)

33 2Q26 1Q26 4Q25 3Q25 2Q25 INTEREST INCOME Loans and leases $ 2,253 $ 2,206 $ 2,290 $ 2,300 $ 2,270 Investment securities 401 384 424 433 419 Deposits at banks 197 196 226 265 256 Total interest income 2,851 2,786 2,940 2,998 2,945 INTEREST EXPENSE Deposits 881 833 861 911 894 Borrowings 314 332 357 353 356 Total interest expense 1,195 1,165 1,218 1,264 1,250 Net interest income 1,656 1,621 1,722 1,734 1,695 (Benefit) provision for credit losses (10) 72 54 191 115 Net interest income after provision for credit losses 1,666 1,549 1,668 1,543 1,580 NONINTEREST INCOME Rental income on operating lease equipment 280 281 281 273 272 Lending-related fees 73 69 64 67 69 Deposit fees and service charges 74 70 63 61 59 Client investment fees 59 53 54 58 52 Wealth management services 62 59 61 57 55 International fees 36 35 37 34 33 Factoring commissions 18 17 20 18 18 Cardholder services, net 38 38 37 39 41 Merchant services, net 13 13 13 12 13 Insurance commissions 13 13 12 13 14 Realized gain (loss) on sale of investment securities, net — — 3 — — Fair value adjustment on marketable equity securities, net 15 3 12 13 2 Gain on sale of leasing equipment, net 14 11 14 3 8 Loss on extinguishment of debt (7) (8) (9) — — Other noninterest income 88 38 53 51 42 Total noninterest income 776 692 715 699 678 NONINTEREST EXPENSE Depreciation on operating lease equipment 101 101 102 98 100 Maintenance and other operating lease expenses 67 65 64 67 55 Personnel cost 844 869 849 817 810 Net occupancy expense 59 60 61 58 61 Equipment expense 141 136 151 137 131 Professional fees 26 24 34 26 30 Third-party processing fees 100 93 75 67 63 FDIC insurance expense 39 38 27 38 38 Marketing expense 45 30 45 33 32 Acquisition-related expenses 8 5 33 28 38 Intangible asset amortization 11 13 13 13 13 Other noninterest expense 110 102 118 109 129 Total noninterest expense 1,551 1,536 1,572 1,491 1,500 Income before income taxes 891 705 811 751 758 Income tax expense 219 171 231 183 183 Net income $ 672 $ 534 $ 580 $ 568 $ 575 Preferred stock dividends $ 32 $ 26 $ 14 $ 14 $ 14 Net income available to common stockholders $ 640 $ 508 $ 566 $ 554 $ 561 BancShares Income Statements (unaudited) ($ in millions)

34 High Quality and Diversified NDFI Portfolio ($ in millions) Total Loans $151,034 $49,729 $59,878 $41,427 NDFI Other C&I All other 2Q26 C&I NDFI Composition $34,203 $3,082 $2,689 $1,453 Other Net asset value loans Private credit Capital call lines 2Q26 NDFI Portfolio Characteristics Capital call lines Short-term commitments to funds where the primary source of repayment is the unfunded capital commitments of the underlying LPs. Net asset value loans Loans to funds collateralized by the PE funds’ direct equity investments. Other Other includes loans to insurance companies, payment processors, equipment leasing, etc. Private credit Includes two primary portfolios: ■ Specialty finance and leveraged fund lines: Lines of credit provided to credit funds primarily secured by portfolios of first lien loans at conservative advance rates. ■ Warehouse lines: Lines of credit secured by large pools of accounts receivable and loans. ■ Portfolio is diversified, well-collateralized and supported by structural protections ■ ~ 83% of balance is in low risk capital call lines ■ ~ 7% of balance to traditional private credit ■ ~ 85% of private credit balances are to closed end and/ or publicly traded funds with lower redemption risk Note – For purposes of this analysis, C&I loans are inclusive of four loans classes including Commercial and industrial, Capital call lines, Owner occupied commercial mortgage and Investor dependent.

35 Average Deposit Account Size and Insured by Segment ($ in billions, except average account size, period end balances) Total deposits Average size Insured % General Bank $ 75.7 $ 37,511 64 % Commercial Bank 45.7 599,861 31 Corporate 52.0 63,307 88 Total $ 173.4 $ 59,466 62 % Note – Commercial Bank includes a small amount of Rail deposits.Totals may not foot due to rounding.

36 (1) 2Q26 (1) Carrying value (2) % of Portfolio Yield (3) Duration in years AFS Portfolio U.S. Treasury $ 13,320 31 % 3.93 % 1.3 Government agency 33 — 2.76 0.3 Residential mortgage-backed securities 17,500 40 4.26 3.1 Commercial mortgage-backed securities 2,972 7 4.06 2.1 Corporate bonds 128 — 7.77 0.7 Municipal bonds 12 — 4.65 16.8 Other investments 18 — 7.46 4.8 Total AFS portfolio $ 33,983 78 % 4.13 % 2.3 HTM portfolio U.S. Treasury $ 390 1 % 1.44 % 1.3 Government agency 1,190 3 1.61 1.8 Residential mortgage-backed securities 4,311 10 2.68 5.3 Commercial mortgage-backed securities 3,279 8 2.22 3.2 Other investments 248 — 1.64 3.4 Total HTM portfolio $ 9,418 22 % 2.31 % 3.9 Grand total $ 43,401 100 % 3.73 % 2.6 Debt Securities Overview ($ in millions, period end balances) (1) Includes the debt securities portfolio; excludes marketable equity securities. (2) Carrying value represents fair value for AFS and amortized cost for HTM portfolios. (3) Yield represents actual accounting yield recognized during the quarter.

37 General Bank Segment ($ in millions) Note – Percent changes above are based on unrounded amounts and may not recalculate precisely using the displayed rounded amounts. (1) Non-GAAP measure: see Section V entitled Non-GAAP Reconciliations. (2) The linked quarter percent change is annualized. Increase (decrease) 2Q26 vs 1Q26 2Q26 vs 2Q25 Earnings Summary 2Q26 1Q26 4Q25 3Q25 2Q25 $ % $ % Net interest income $ 819 $ 813 $ 841 $ 846 $ 824 $ 6 0.8 % $ (5) (0.7) % Total noninterest income 187 172 170 166 164 15 8.5 23 13.9 Total revenue 1,006 985 1,011 1,012 988 21 2.1 18 1.7 Total noninterest expense 601 600 604 582 580 1 0.1 21 3.4 Pre-provision net revenue (1) 405 385 407 430 408 20 5.3 (3) (0.6) Provision for credit losses 54 17 17 1 13 37 NM 41 NM Income before income taxes 351 368 390 429 395 (17) (4.6) (44) (11.2) Income tax expense 85 90 82 109 101 (5) (5.6) (16) (16.0) Net income $ 266 $ 278 $ 308 $ 320 $ 294 $ (12) (4.2) % $ (28) (9.6) % Period end Balances (2) Loans and leases $ 64,355 $ 64,367 $ 64,958 $ 65,225 $ 64,987 $ (12) (0.1) % $ (632) (1.0) % Deposits 75,718 75,914 74,796 74,596 73,499 (196) (1.0) 2,219 3.0 Other Key Metrics Number of branches 520 519 521 520 526 1 0.2 % (6) (1.1) % Wealth management assets under management ($B) $ 62.0 $ 59.7 $ 61.2 $ 59.9 $ 57.1 $ 2.3 3.9 $ 4.9 8.6 Card volume 4,850 4,475 4,713 4,621 4,629 375 8.4 221 4.8 Merchant volume 1,898 1,786 1,799 1,827 1,882 112 6.3 16 0.9

38 Increase (decrease) 2Q26 vs 1Q26 2Q26 vs 2Q25 Earnings Summary 2Q26 1Q26 4Q25 3Q25 2Q25 $ % $ % Net interest income $ 805 $ 802 $ 834 $ 796 $ 789 $ 3 0.5 % $ 16 2.0 % Rental income on operating lease equipment 54 55 55 54 54 (1) (2.6) — — Less: depreciation on operating lease equipment 43 43 44 43 44 — — (1) (3.1) Adjusted rental income on operating lease equipment (1) 11 12 11 11 10 (1) (8.3) 1 10.0 All other noninterest income 270 230 241 236 228 40 17.5 42 18.6 Noninterest income, net (1) 281 242 252 247 238 39 16.1 43 18.1 Revenue 1,086 1,044 1,086 1,043 1,027 42 4.0 59 5.7 Noninterest expense, net (1) 586 603 612 596 605 (17) (2.8) (19) (3.1) Pre-provision net revenue (1) 500 441 474 447 422 59 13.6 78 18.5 (Benefit) provision for credit losses (64) 55 37 190 102 (119) NM (166) NM Income before income taxes 564 386 437 257 320 178 46.4 244 76.3 Income tax expense 136 95 102 64 82 41 44.4 54 66.5 Net income $ 428 $ 291 $ 335 $ 193 $ 238 $ 137 47.1 % $ 190 79.6 % Period end Balances (2) Loans and leases $ 86,635 $ 84,263 $ 82,910 $ 79,470 $ 76,220 $ 2,372 11.3 % $ 10,415 13.7 % Operating lease equipment, net 723 717 739 737 750 6 3.2 (27) (3.6) Deposits 45,690 47,191 41,532 42,869 40,697 (1,501) (12.8) 4,993 12.3 Off-balance sheet client funds 80,606 77,777 69,681 67,035 63,879 2,829 14.6 16,727 26.2 Other Key Metrics Factoring volume $ 5,878 $ 5,787 $ 6,547 $ 6,315 $ 5,481 $ 91 1.6 % $ 397 7.2 % Commercial Bank Segment ($ in millions) Note – Commercial segment results do not include the accretion impact of SVB loans or the impact of overnight investments and debt that was added at the acquisition date (the aforementioned items are contained within Corporate). During 4Q25, the Commercial Bank segment was updated to include SVB Commercial, which was previously a separate segment, and prior period segment financial information was recast accordingly. Percent changes above are based on unrounded amounts and may not recalculate precisely using the displayed rounded amounts. (1) Non-GAAP measure: see Section V entitled Non-GAAP Reconciliations. (2) The linked quarter percent change is annualized.

39 Increase (decrease) 2Q26 vs 1Q26 2Q26 vs 2Q25 Earnings Summary 2Q26 1Q26 4Q25 3Q25 2Q25 $ % $ % Net interest expense $ 59 $ 58 $ 53 $ 55 $ 53 $ 1 2.1 % $ 6 10.0 % Rental income on operating lease equipment 226 226 226 219 218 — — 8 4.1 Less: depreciation on operating lease equipment 58 58 58 55 56 — — 2 5.6 Less: maintenance and other operating lease expenses 67 65 64 67 55 2 3.4 12 20.5 Adjusted rental income on operating lease equipment (1) 101 103 104 97 107 (2) (1.9) (6) (5.6) All other noninterest income 7 9 9 2 3 (2) (28.0) 4 96.0 Noninterest income, net (1) 108 112 113 99 110 (4) (3.6) (2) (1.8) Revenue 49 54 60 44 57 (5) (9.3) (8) (14.0) Noninterest expense, net (1) 24 25 22 22 32 (1) (4.0) (8) (25.0) Pre-provision net revenue (1) 25 29 38 22 25 (4) (15.7) — — Provision for credit losses — — — — — — — — — Income before income taxes 25 29 38 22 25 (4) (15.4) — — Income tax expense 6 7 9 5 6 (1) (16.6) — — Net income $ 19 $ 22 $ 29 $ 17 $ 19 $ (3) (15.1) % $ — — Period end Balances (2) Operating lease equipment, net $ 9,032 $ 8,968 $ 8,882 $ 8,709 $ 8,716 $ 64 2.9 % $ 316 3.6 % Other Key Metrics Railcars and locomotives (3) 129,300 128,600 128,400 127,600 127,300 700 0.5 % 2,000 1.6 % Utilization 96.7 % 96.2 % 96.2 % 96.8 % 96.9 % NM 0.5 NM (0.2) Renewal rate to previous rate 115 118 117 118 132 NM (3.0) NM (17.0) Rail Segment ($ in millions) Note – Percent changes above are based on unrounded amounts and may not recalculate precisely using the displayed rounded amounts. (1) Non-GAAP measure: see Section V entitled Non-GAAP Reconciliations. (2) The linked quarter percent change is annualized. (3) Railcars and locomotives number is rounded.

40 Corporate ($ in millions) Note – Percent changes above are based on unrounded amounts and may not recalculate precisely using the displayed rounded amounts. (1) Non-GAAP measure: see Section V entitled Non-GAAP Reconciliations. (2) The linked quarter percent change is annualized. Increase (decrease) 2Q26 vs 1Q26 2Q26 vs 2Q25 Earnings Summary 2Q26 1Q26 4Q25 3Q25 2Q25 $ % $ % Net interest income $ 91 $ 64 $ 100 $ 147 $ 135 $ 27 40.7 % $ (44) (32.7) % Total noninterest income 32 — 14 22 11 32 NM 21 NM Total revenue 123 64 114 169 146 59 89.9 (23) (15.3) Total noninterest expense 172 142 168 126 128 30 20.6 44 34.9 Pre-provision net revenue (1) (49) (78) (54) 43 18 29 36.8 (67) NM Provision for credit losses — — — — — — — — — (Loss) Income before income taxes (49) (78) (54) 43 18 29 36.9 (67) NM Income tax (benefit) expense (8) (21) 38 5 (6) 13 56.8 (2) (31.9) Net (loss) income $ (41) $ (57) $ (92) $ 38 $ 24 $ 16 29.9 % $ (65) NM Period end Balance Sheet (2) Investment securities $ 43,539 $ 42,986 $ 41,564 $ 45,124 $ 43,346 $ 553 5.2 % $ 193 0.5 % Direct Bank deposits 48,222 45,408 44,802 45,146 45,111 2,814 24.9 3,111 6.9 Brokered deposits 3,325 1,831 — 134 154 1,494 NM 3,171 NM

41 June 30, 2026 March 31, 2026 December 31, 2025 September 30, 2025 June 30, 2025 Loans and leases (including off-balance sheet exposure) (1) Beginning balance - unamortized fair value mark $ (1,300) $ (1,351) $ (1,411) $ (1,483) $ (1,561) Other 5 3 1 1 3 Accretion 55 48 59 71 75 Ending balance $ (1,240) $ (1,300) $ (1,351) $ (1,411) $ (1,483) Core deposits and other intangibles Beginning balance $ 182 $ 195 $ 208 $ 221 $ 234 Amortization (11) (13) (13) (13) (13) Ending balance $ 171 $ 182 $ 195 $ 208 $ 221 Borrowings (2) Beginning balance - unamortized fair value mark $ 61 $ 78 $ 97 $ 107 $ 116 Amortization (7) (9) (10) (10) (9) Loss on extinguishment of debt (7) (8) (9) — — Ending balance $ 47 $ 61 $ 78 $ 97 $ 107 Purchase accounting marks ($ in millions) Note – The summary only includes select information and is not intended to represent all purchase accounting adjustments. (1) Purchase accounting marks on loans and leases is comprised of credit, interest and liquidity components, and are generally recognized using the level-yield or straight-line method over the remaining life of the receivable or in full in the event of prepayment. (2) Purchase accounting marks on borrowings represent interest rate marks and are recognized using the level-yield method over the remaining term of the liability.

Non-GAAP Reconciliations Section V

43 Notable Items (1) ($ in millions, except per share data) 2Q26 1Q26 4Q25 3Q25 2Q25 Rental income on operating lease equipment (2) $ (168) $ (166) $ (166) $ (165) $ (155) Realized gain on sale of investment securities, net — — (3) — — Fair value adjustment on marketable equity securities, net (15) (3) (12) (13) (2) Gain on sale of leasing equipment, net (14) (11) (14) (3) (8) Loss on extinguishment of debt 7 8 9 — — Other noninterest income — — — — — Impact of notable items on adjusted noninterest income $ (190) $ (172) $ (186) $ (181) $ (165) Depreciation on operating lease equipment (2) $ (101) $ (101) $ (102) $ (98) $ (100) Maintenance and other operating lease expenses (2) (67) (65) (64) (67) (55) Personnel cost (3) (8) (12) — (6) — Professional fees (4) (5) (6) — — — FDIC insurance special assessment — — 12 — — Acquisition-related expenses (8) (5) (33) (28) (38) Intangible asset amortization (11) (13) (13) (13) (13) Other noninterest expense (5) (5) (4) (4) — (15) Impact of notable items on adjusted noninterest expense $ (205) $ (206) $ (204) $ (212) $ (221) Impact of notable items on adjusted pre-tax income $ 15 $ 34 $ 18 $ 31 $ 56 Income tax impact (6) (4) 8 (50) 12 24 Impact of notable items on adjusted net income $ 19 $ 26 $ 68 $ 19 $ 32 Impact of notable items on adjusted diluted EPS $ 1.57 $ 2.23 $ 5.46 $ 1.54 $ 2.42 (1) Notable items include income and expense for infrequent transactions and certain recurring items (typically noncash) that management believes should be excluded from adjusted measures (non- GAAP) to enhance understanding of operations and comparability to historical periods. Management utilizes both GAAP and adjusted measures (non-GAAP) to analyze BancShares’ performance. Refer to subsequent pages of this presentation for a reconciliation of non-GAAP measures to the most directly comparable GAAP measures. (2) Depreciation and maintenance and other operating lease expenses are deducted from rental income on operating lease equipment to calculate adjusted rental income on operating lease equipment (non-GAAP). There is no net impact to earnings for this non-GAAP item because adjusted noninterest income and expense are reduced by the same amount. Management believes adjusted rental income on operating lease equipment (non-GAAP) is meaningful because it helps management monitor the performance and profitability of the operating leases after deducting direct expenses. Refer to subsequent pages of this presentation for a reconciliation of non-GAAP measures to the most directly comparable GAAP measures. (3) Personnel cost in 2Q26 and 1Q26 includes severance and retention costs in connection with business optimization; 3Q25 includes impairment of internal use software under development. (4) Professional fees include costs for risk transformation and strategic enhancements to technology in 2Q26 and 1Q26. (5) Other noninterest expense includes certain litigation expenses in 2Q26 and 1Q26, a write-off of other assets in 1Q26, a technology fee in 4Q25, and an accrual resulting from a vendor dispute and an increase in litigation reserve in 2Q25. (6) For the periods presented, the income tax impact may include tax discrete items and changes in the estimated annualized effective tax rate.

44 Non-GAAP Reconciliations 2Q26 1Q26 4Q25 3Q25 2Q25 Net income and EPS Net income (GAAP) a $ 672 534 580 568 575 Preferred stock dividends 32 26 14 14 14 Net income available to common stockholders (GAAP) b 640 508 566 554 561 Total notable items, after income tax c 19 26 68 19 32 Adjusted net income (non-GAAP) d = (a+c) 691 560 648 587 607 Adjusted net income available to common stockholders (non-GAAP) e = (b+c) $ 659 534 634 573 593 Weighted average common shares outstanding Basic f 11,535,792 11,924,899 12,363,028 12,849,339 13,237,226 Diluted g 11,535,792 11,924,899 12,363,028 12,849,339 13,237,226 EPS (GAAP) Basic b/f $ 55.52 42.63 45.81 43.08 42.36 Diluted b/g 55.52 42.63 45.81 43.08 42.36 Adjusted EPS (non-GAAP) Basic e/f $ 57.09 44.86 51.27 44.62 44.78 Diluted e/g 57.09 44.86 51.27 44.62 44.78 Noninterest income and expense Noninterest income (GAAP) h $ 776 692 715 699 678 Impact of notable items, before income tax (190) (172) (186) (181) (165) Adjusted noninterest income (non-GAAP) i $ 586 520 529 518 513 Noninterest expense (GAAP) j $ 1,551 1,536 1,572 1,491 1,500 Impact of notable items, before income tax (205) (206) (204) (212) (221) Adjusted noninterest expense (non-GAAP) k $ 1,346 1,330 1,368 1,279 1,279 Note: Certain items above do not precisely recalculate as presented due to rounding. Non-GAAP Reconciliations ($ in millions, except share and per share data)

45 Non-GAAP Reconciliations ($ in millions) Non-GAAP Reconciliations 2Q26 1Q26 4Q25 3Q25 2Q25 PPNR Net income (GAAP) a $ 672 534 580 568 575 Plus: (benefit) provision for credit losses (10) 72 54 191 115 Plus: income tax expense 219 171 231 183 183 PPNR (non-GAAP) l $ 881 777 865 942 873 Impact of notable items 15 34 18 31 56 Adjusted PPNR (non-GAAP) m $ 896 811 883 973 929 ROA Net income (GAAP) a $ 672 534 580 568 575 Annualized net income n = a annualized 2,699 2,164 2,303 2,254 2,307 Adjusted net income (non-GAAP) d 691 560 648 587 607 Annualized adjusted net income p = d annualized 2,771 2,272 2,571 2,332 2,435 Average assets o 235,200 233,181 233,432 230,529 227,552 ROA n/o 1.15 % 0.93 % 0.99 % 0.98 % 1.01 % Adjusted ROA (non-GAAP) p/o 1.18 0.97 1.10 1.01 1.07 PPNR ROA PPNR (non-GAAP) l $ 881 777 865 942 873 Annualized PPNR q = l annualized 3,536 3,152 3,430 3,738 3,501 Adjusted PPNR (non-GAAP) m 896 811 883 973 929 Annualized adjusted PPNR r = m annualized 3,595 3,288 3,504 3,860 3,728 PPNR ROA (non-GAAP) q/o 1.50 % 1.35 % 1.47 % 1.62 % 1.54 % Adjusted PPNR ROA (non-GAAP) r/o 1.53 1.41 1.50 1.67 1.64 Note: Certain items above do not precisely recalculate as presented due to rounding.

46 Non-GAAP Reconciliations ($ in millions) Non-GAAP Reconciliations 2Q26 1Q26 4Q25 3Q25 2Q25 ROE and ROTCE Annualized net income available to common stockholders s = b annualized $ 2,569 2,062 2,247 2,196 2,249 Annualized adjusted net income available to common stockholders t = e annualized $ 2,642 2,170 2,515 2,275 2,377 Average stockholders' equity (GAAP) $ 22,180 22,487 22,197 22,291 22,488 Less: average preferred stock 1,765 1,613 1,117 881 881 Average common stockholders' equity u $ 20,415 20,874 21,080 21,410 21,607 Less: average goodwill 346 346 346 346 346 Less: average other intangible assets 179 191 204 216 229 Average tangible common equity (non-GAAP) v $ 19,890 20,337 20,530 20,848 21,032 ROE s/u 12.58 % 9.88 % 10.66 % 10.26 % 10.41 % Adjusted ROE (non-GAAP) t/u 12.94 10.39 11.93 10.62 11.00 ROTCE (non-GAAP) s/v 12.92 10.14 10.94 10.53 10.69 Adjusted ROTCE (non-GAAP) t/v 13.28 10.67 12.25 10.91 11.30 Tangible common equity to tangible assets Stockholders' equity (GAAP) w $ 21,900 22,048 22,238 21,986 22,296 Less: preferred stock 1,765 1,765 1,375 881 881 Common equity x $ 20,135 20,283 20,863 21,105 21,415 Less: goodwill y 346 346 346 346 346 Less: other intangible assets z 171 182 195 208 221 Tangible common equity (non-GAAP) aa $ 19,618 19,755 20,322 20,551 20,848 Total assets (GAAP) bb $ 236,842 235,959 229,698 233,488 229,653 Tangible assets (non-GAAP) cc = bb - (y + z) 236,325 235,431 229,157 232,934 229,086 Total equity to total assets (GAAP) w/bb 9.25 % 9.34 % 9.68 % 9.42 % 9.71 % Tangible common equity to tangible assets (non-GAAP) aa/cc 8.30 8.39 8.87 8.82 9.10 Note: Certain items above do not precisely recalculate as presented due to rounding.

47 Non-GAAP Reconciliations ($ in millions, except share and per share data) Non-GAAP Reconciliations 2Q26 1Q26 4Q25 3Q25 2Q25 Book value and tangible book value per common share Common shares outstanding at period end dd 11,390,407 11,689,314 12,139,159 12,618,629 13,075,979 Book value per share x/dd $ 1,767.79 1,735.18 1,718.71 1,672.54 1,637.72 Tangible book value per common share (non-GAAP) aa/dd 1,722.35 1,689.96 1,674.11 1,628.64 1,594.38 Efficiency ratio Net interest income ee $ 1,656 1,621 1,722 1,734 1,695 Efficiency ratio (GAAP) j / (h + ee) 63.75 % 66.41 % 64.53 % 61.27 % 63.22 % Adjusted efficiency ratio (non-GAAP) k / (i + ee) 60.05 62.13 60.79 56.78 57.92 Rental income on operating lease equipment Rental income on operating lease equipment (GAAP) $ 280 281 281 273 272 Less: depreciation on operating lease equipment 101 101 102 98 100 Less: maintenance and other operating lease expenses 67 65 64 67 55 Adjusted rental income on operating lease equipment (non-GAAP) $ 112 115 115 108 117 Rental income on operating lease equipment: Commercial Bank Segment Rental income on operating lease equipment (GAAP) $ 54 55 55 54 54 Less: depreciation on operating lease equipment 43 43 44 43 44 Less: maintenance and other operating lease expenses — — — — — Adjusted rental income on operating lease equipment (non-GAAP) $ 11 12 11 11 10 Rental income on operating lease equipment: Rail Segment Rental income on operating lease equipment (GAAP) $ 226 226 226 219 218 Less: depreciation on operating lease equipment 58 58 58 55 56 Less: maintenance and other operating lease expenses 67 65 64 67 55 Adjusted rental income on operating lease equipment (non-GAAP) $ 101 103 104 97 107 Note: Certain items above do not precisely recalculate as presented due to rounding.

48 Non-GAAP Reconciliations ($ in millions, except share and per share data) Non-GAAP Reconciliations 2Q26 1Q26 4Q25 3Q25 2Q25 Noninterest Income and Noninterest Expense: Commercial Bank Segment Noninterest income (GAAP) $ 324 285 296 290 282 Less: depreciation on operating lease equipment 43 43 44 43 44 Noninterest income, net (non-GAAP) $ 281 242 252 247 238 Noninterest expense (GAAP) $ 629 646 656 639 649 Less: depreciation on operating lease equipment 43 43 44 43 44 Noninterest expense, net (non-GAAP) $ 586 603 612 596 605 Noninterest Income and Noninterest Expense: Rail Segment Noninterest income (GAAP) $ 233 235 235 221 221 Less: depreciation on operating lease equipment 58 58 58 55 56 Less: maintenance and other operating lease expenses 67 65 64 67 55 Noninterest income, net (non-GAAP) $ 108 112 113 99 110 Noninterest expense (GAAP) $ 149 148 144 144 143 Less: depreciation on operating lease equipment 58 58 58 55 56 Less: maintenance and other operating lease expenses 67 65 64 67 55 Noninterest expense, net (non-GAAP) $ 24 25 22 22 32 Note: Certain items above do not precisely recalculate as presented due to rounding.

49 Non-GAAP Reconciliations ($ in millions) Non-GAAP Reconciliations 2Q26 1Q26 4Q25 3Q25 2Q25 PPNR: General Bank Segment Segment net income (GAAP) $ 266 278 308 320 294 Plus: provision for credit losses 54 17 17 1 13 Plus: income tax expense 85 90 82 109 101 PPNR (non-GAAP) $ 405 385 407 430 408 PPNR: Commercial Bank Segment Segment net income (GAAP) $ 428 291 335 193 238 Plus: (benefit) provision for credit losses (64) 55 37 190 102 Plus: income tax expense 136 95 102 64 82 PPNR (non-GAAP) $ 500 441 474 447 422 PPNR: Rail Segment Segment net income (GAAP) $ 19 22 29 17 19 Plus: provision for credit losses — — — — — Plus: income tax expense 6 7 9 5 6 PPNR (non-GAAP) $ 25 29 38 22 25 PPNR: Corporate Net income (GAAP) $ (41) (57) (92) 38 24 Plus: income tax expense (benefit) (8) (21) 38 5 (6) PPNR (non-GAAP) $ (49) (78) (54) 43 18

50 Non-GAAP Reconciliations ($ in millions) Non-GAAP Reconciliations 2Q26 1Q26 4Q25 3Q25 2Q25 Net interest income & Net interest margin Net interest income (GAAP) ee $ 1,656 1,621 1,722 1,734 1,695 Loan PAA ff 55 48 59 71 75 Other PAA gg (7) (9) (10) (10) (9) PAA hh = (ff + gg) $ 48 39 49 61 66 Net interest income, excluding PAA (non-GAAP) ii = (ee - hh) $ 1,608 1,582 1,673 1,673 1,629 Annualized net interest income jj = ee annualized $ 6,642 6,575 6,834 6,878 6,800 Annualized net interest income, excluding PAA kk = ii annualized 6,451 6,416 6,640 6,637 6,533 Average interest-earning assets ll 213,990 212,552 213,294 211,042 208,175 NIM (GAAP) jj/ll 3.10 % 3.09 % 3.20 % 3.26 % 3.26 % NIM, excluding PAA (non-GAAP) kk/ll 3.01 3.01 3.11 3.15 3.14 Interest income on loans (GAAP) $ 2,253 2,206 2,290 2,300 2,270 Less: loan PAA ff 55 48 59 71 75 Interest income on loans, excluding loan PAA (non-GAAP) $ 2,198 2,158 2,231 2,229 2,195 Note: Certain items above do not precisely recalculate as presented due to rounding.

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

Summary Financial Data and Metrics


	Three Months Ended															Increase (Decrease) From LQ (4)				Six Months Ended						Increase (Decrease) From PYTD
dollars in millions, except per share data	June 30, 2026			March 31, 2026			December 31, 2025			September 30, 2025			June 30, 2025							June 30, 2026			June 30, 2025
Results of Operations:
Net interest income	$	1,656		$	1,621		$	1,722		$	1,734		$	1,695		$	35	2.2	%	$	3,277		$	3,358		$	(81)	(2.4)	%
(Benefit) provision for credit losses	(10)			72			54			191			115			(82)		(113.9)		62			269			(207)		(77.0)
Net interest income after provision for credit losses	1,666			1,549			1,668			1,543			1,580			117		7.5		3,215			3,089			126		4.1
Noninterest income	776			692			715			699			678			84		12.1		1,468			1,313			155		11.8
Noninterest expense	1,551			1,536			1,572			1,491			1,500			15		0.9		3,087			2,993			94		3.1
Income before income taxes	891			705			811			751			758			186		26.4		1,596			1,409			187		13.4
Income tax expense	219			171			231			183			183			48		27.6		390			351			39		11.2
Net income	672			534			580			568			575			138		26.1		1,206			1,058			148		14.1
Preferred stock dividends	32			26			14			14			14			6		27.2		58			29			29		98.9
Net income available to common stockholders	$	640		$	508		$	566		$	554		$	561		$	132	26.0	%	$	1,148		$	1,029		$	119	11.7	%
Adjusted net income available to common stockholders (1)	$	659		$	534		$	634		$	573		$	593		$	125	23.1	%	$	1,193		$	1,106		$	87	7.9	%
Pre-tax, pre-provision net revenue (PPNR) (1)	881			777			865			942			873			104		13.4		1,658			1,678			(20)		(1.1)
Adjusted PPNR (1)	896			811			883			973			929			85		10.5		1,707			1,794			(87)		(4.9)
Per Share Information:
Diluted earnings per common share (EPS)	$	55.52		$	42.63		$	45.81		$	43.08		$	42.36		$	12.89	30.2	%	$	97.95		$	76.73		$	21.22	27.7	%
Adjusted diluted EPS (1)	57.09			44.86			51.27			44.62			44.78			12.23		27.3		101.76			82.48			19.28		23.4
Book value per common share at period end	1,767.79			1,735.18			1,718.71			1,672.54			1,637.72			32.61		1.9
Tangible book value per common share (TBV) (1) at period end	1,722.35			1,689.96			1,674.11			1,628.64			1,594.38			32.39		1.9
Key Performance Metrics:
Return on average assets (ROA)	1.15		%	0.93		%	0.99		%	0.98		%	1.01		%	22		bps (5)		1.04		%	0.94		%	10		bps
Adjusted ROA (1)	1.18			0.97			1.10			1.01			1.07			21				1.08			1.01			7
PPNR ROA (1)	1.50			1.35			1.47			1.62			1.54			15				1.43			1.49			(6)
Adjusted PPNR ROA (1)	1.53			1.41			1.50			1.67			1.64			12				1.47			1.60			(13)
Return on average common equity (ROE)	12.58			9.88			10.66			10.26			10.41			270				11.22			9.61			161
Adjusted ROE (1)	12.94			10.39			11.93			10.62			11.00			255				11.66			10.33			133
Return on average tangible common equity (ROTCE) (1)	12.92			10.14			10.94			10.53			10.69			278				11.52			9.87			165
Adjusted ROTCE (1)	13.28			10.67			12.25			10.91			11.30			261				11.97			10.61			136
Efficiency ratio	63.75			66.41			64.53			61.27			63.22			(266)				65.05			64.08			97
Adjusted efficiency ratio (1)	60.05			62.13			60.79			56.78			57.92			(208)				61.06			58.75			231
Net interest margin (NIM) (2)	3.10			3.09			3.20			3.26			3.26			1				3.09			3.26			(17)
NIM, excluding purchase accounting accretion (PAA) (1) (2)	3.01			3.01			3.11			3.15			3.14			—				3.01			3.13			(12)
Select Balance Sheet Items at Period End:
Total investment securities	$	43,557		$	42,986		$	41,564		$	45,124		$	43,346		$	571	1.30	%
Total loans and leases	151,034			148,692			147,930			144,758			141,269			2,342		1.60
Total operating lease equipment, net	9,755			9,685			9,621			9,446			9,466			70		0.70
Total deposits	173,427			170,842			161,578			163,190			159,935			2,585		1.50
Total borrowings	32,188			33,962			36,008			38,675			38,112			(1,774)		(5.20)
Loan to deposit ratio	87.09		%	87.04		%	91.55		%	88.71		%	88.33		%	5		bps
Noninterest-bearing deposits to total deposits	24.49			25.52			25.16			26.20			25.56			(103)
Capital Ratios at Period End: (3)
Total risk-based capital ratio	13.37		%	13.51		%	13.71		%	14.05		%	14.25		%	(14)		bps
Tier 1 risk-based capital ratio	11.73			11.79			11.91			12.15			12.63			(6)
Common equity Tier 1 ratio	10.77			10.83			11.15			11.65			12.12			(6)
Tier 1 leverage capital ratio	9.22			9.30			9.29			9.34			9.62			(8)
Asset Quality at Period End:
Nonaccrual loans to total loans and leases	0.96		%	0.96		%	0.88		%	0.97		%	0.93		%	—		bps
Allowance for loan and lease losses (ALLL) to loans and leases	0.98			1.05			1.06			1.14			1.18			(7)
Net charge-off ratio for the period	0.29			0.30			0.39			0.65			0.33			(1)				0.29			0.37			(8)		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	June 30, 2026		March 31, 2026		December 31, 2025		September 30, 2025		June 30, 2025		Increase (Decrease) From LQ
Assets
Cash and due from banks	$	1,519	$	1,080	$	801	$	874	$	889	$	439	40.7	%
Interest-earning deposits at banks	21,132		23,189		19,801		24,798		26,184		(2,057)		(8.9)
Securities purchased under agreements to resell	737		223		232		83		300		514		231.3
Investment in marketable equity securities	156		130		127		110		97		26		20.6
Investment securities available for sale	33,983		33,314		31,790		34,963		33,060		669		2.0
Investment securities held to maturity	9,418		9,542		9,647		10,051		10,189		(124)		(1.3)
Assets held for sale	93		1,122		804		112		125		(1,029)		(91.7)
Loans and leases	151,034		148,692		147,930		144,758		141,269		2,342		1.6
Allowance for loan and lease losses	(1,484)		(1,558)		(1,566)		(1,652)		(1,672)		(74)		(4.7)
Loans and leases, net of allowance for loan and lease losses	149,550		147,134		146,364		143,106		139,597		2,416		1.6
Operating lease equipment, net	9,755		9,685		9,621		9,446		9,466		70		0.7
Premises and equipment, net	2,523		2,499		2,447		2,283		2,115		24		1.0
Goodwill	346		346		346		346		346		—		—
Other intangible assets, net	171		182		195		208		221		(11)		(6.0)
Other assets	7,459		7,513		7,523		7,108		7,064		(54)		(0.7)
Total assets	$	236,842	$	235,959	$	229,698	$	233,488	$	229,653	$	883	0.4	%
Liabilities
Deposits:
Noninterest-bearing	$	42,475	$	43,606	$	40,653	$	42,752	$	40,879	$	(1,131)	(2.6)	%
Interest-bearing	130,952		127,236		120,925		120,438		119,056		3,716		2.9
Total deposits	173,427		170,842		161,578		163,190		159,935		2,585		1.5
Credit balances of factoring clients	1,339		1,284		1,148		1,326		1,077		55		4.3
Borrowings:


Short-term borrowings	152		170		224		423		471		(18)		(10.6)




Long-term borrowings	32,036		33,792		35,784		38,252		37,641		(1,756)		(5.2)
Total borrowings	32,188		33,962		36,008		38,675		38,112		(1,774)		(5.2)
Other liabilities	7,988		7,823		8,726		8,311		8,233		165		2.1
Total liabilities	214,942		213,911		207,460		211,502		207,357		1,031		0.5
Stockholders’ equity
Preferred stock	1,765		1,765		1,375		881		881		—		—
Common stock:
Class A - $1 par value	10		11		11		12		12		(1)		(2.8)
Class B - $1 par value	1		1		1		1		1		—		—
Additional paid in capital	—		—		—		270		1,179		—		—
Retained earnings	20,354		20,343		20,768		20,866		20,337		11		0.1
Accumulated other comprehensive (loss) income	(230)		(72)		83		(44)		(114)		(158)		220.0
Total stockholders’ equity	21,900		22,048		22,238		21,986		22,296		(148)		(0.7)
Total liabilities and stockholders’ equity	$	236,842	$	235,959	$	229,698	$	233,488	$	229,653	$	883	0.4	%

Consolidated Statements of Income (Unaudited)


	Three Months Ended										Increase (Decrease) From LQ				Six Months Ended				Increase (Decrease) From PYTD
dollars in millions, except share and per share data	June 30, 2026		March 31, 2026		December 31, 2025		September 30, 2025		June 30, 2025						June 30, 2026		June 30, 2025
Interest income
Loans and leases	$	2,253	$	2,206	$	2,290	$	2,300	$	2,270	$	47	2.1	%	$	4,459	$	4,506	$	(47)	(1.1)	%
Investment securities	401		384		424		433		419		17		4.4		785		833		(48)		(5.6)
Deposits at banks	197		196		226		265		256		1		0.5		393		501		(108)		(21.6)
Total interest income	2,851		2,786		2,940		2,998		2,945		65		2.3		5,637		5,840		(203)		(3.5)
Interest expense
Deposits	881		833		861		911		894		48		5.8		1,714		1,787		(73)		(4.1)
Borrowings	314		332		357		353		356		(18)		(5.4)		646		695		(49)		(7.0)
Total interest expense	1,195		1,165		1,218		1,264		1,250		30		2.6		2,360		2,482		(122)		(4.9)
Net interest income	1,656		1,621		1,722		1,734		1,695		35		2.2		3,277		3,358		(81)		(2.4)
(Benefit) provision for credit losses	(10)		72		54		191		115		(82)		(113.9)		62		269		(207)		(77.0)
Net interest income after provision for credit losses	1,666		1,549		1,668		1,543		1,580		117		7.5		3,215		3,089		126		4.1
Noninterest income
Rental income on operating lease equipment	280		281		281		273		272		(1)		(0.1)		561		542		19		3.5
Lending-related fees	73		69		64		67		69		4		4.4		142		135		7		4.9
Deposit fees and service charges	74		70		63		61		59		4		5.1		144		117		27		23.1
Client investment fees	59		53		54		58		52		6		13.8		112		105		7		7.6
Wealth management services	62		59		61		57		55		3		4.5		121		111		10		8.6
International fees	36		35		37		34		33		1		(0.4)		71		65		6		8.9
Factoring commissions	18		17		20		18		18		1		8.1		35		35		—		—
Cardholder services, net	38		38		37		39		41		—		—		76		82		(6)		(6.9)
Merchant services, net	13		13		13		12		13		—		—		26		27		(1)		(3.4)
Insurance commissions	13		13		12		13		14		—		—		26		28		(2)		(7.5)
Realized gain (loss) on sale of investment securities, net	—		—		3		—		—		—		—		—		—		—		—
Fair value adjustment on marketable equity securities, net	15		3		12		13		2		12		370.3		18		(3)		21		759.6
Gain on sale of leasing equipment, net	14		11		14		3		8		3		15.0		25		13		12		91.9

Loss on extinguishment of debt	(7)		(8)		(9)		—		—		1		11.6		(15)		—		(15)		(100.0)
Other noninterest income	88		38		53		51		42		50		138.1		126		56		70		126.7
Total noninterest income	776		692		715		699		678		84		12.1		1,468		1,313		155		11.8
Noninterest expense
Depreciation on operating lease equipment	101		101		102		98		100		—		—		202		198		4		2.0
Maintenance and other operating lease expenses	67		65		64		67		55		2		3.4		132		113		19		16.5
Personnel cost	844		869		849		817		810		(25)		(2.9)		1,713		1,628		85		5.3
Net occupancy expense	59		60		61		58		61		(1)		(0.9)		119		119		—		—
Equipment expense	141		136		151		137		131		5		2.9		277		267		10		3.7
Professional fees	26		24		34		26		30		2		4.2		50		55		(5)		(10.1)
Third-party processing fees	100		93		75		67		63		7		6.7		193		126		67		52.5
FDIC insurance expense	39		38		27		38		38		1		—		77		76		1		0.9
Marketing expense	45		30		45		33		32		15		48.9		75		64		11		17.2
Acquisition-related expenses	8		5		33		28		38		3		90.4		13		80		(67)		(83.7)
Intangible asset amortization	11		13		13		13		13		(2)		(13.8)		24		28		(4)		(16.6)
Other noninterest expense	110		102		118		109		129		8		8.8		212		239		(27)		(11.2)
Total noninterest expense	1,551		1,536		1,572		1,491		1,500		15		0.9		3,087		2,993		94		3.1
Income before income taxes	891		705		811		751		758		186		26.4		1,596		1,409		187		13.4
Income tax expense	219		171		231		183		183		48		27.6		390		351		39		11.2
Net income	$	672	$	534	$	580	$	568	$	575	$	138	26.1	%	$	1,206	$	1,058	$	148	14.1	%
Preferred stock dividends	32		26		14		14		14		6		27.2		58		29		29		98.9
Net income available to common stockholders	$	640	$	508	$	566	$	554	$	561	$	132	26.0	%	$	1,148	$	1,029	$	119	11.7	%

Basic and diluted earnings per common share	$	55.52	$	42.63	$	45.81	$	43.08	$	42.36	$	12.89	30.2	%	$	97.95	$	76.73	$	21.22	27.7	%

Weighted average common shares outstanding (basic and diluted)	11,535,792		11,924,899		12,363,028		12,849,339		13,237,226		(389,107)		(3.3)		11,729,271		13,405,295		(1,676,024)		(12.5)

Notable Items (1)



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

Noninterest income (GAAP)	$	776	$	692	$	715	$	699	$	678	$	84		$	1,468	$	1,313		$	155
Noninterest income notable items:
Rental income on operating lease equipment (2)	(168)		(166)		(166)		(165)		(155)		(2)			(334)		(311)			(23)
Realized gain on sale of investment securities, net	—		—		(3)		—		—		—			—		—			—
Fair value adjustment on marketable equity securities, net	(15)		(3)		(12)		(13)		(2)		(12)			(18)		3			(21)
Gain on sale of leasing equipment, net	(14)		(11)		(14)		(3)		(8)		(3)			(25)		(13)			(12)

Loss on extinguishment of debt	7		8		9		—		—		(1)			15		—			15

Total noninterest income notable items	(190)		(172)		(186)		(181)		(165)		(18)			(362)		(321)			(41)
Adjusted noninterest income (non-GAAP) (a)	586		520		529		518		513		66			1,106		992			114

Noninterest expense (GAAP)	1,551		1,536		1,572		1,491		1,500		15			3,087		2,993			94
Noninterest expense notable items:
Depreciation on operating lease equipment (2)	(101)		(101)		(102)		(98)		(100)		—			(202)		(198)			(4)
Maintenance and other operating lease equipment expense (2)	(67)		(65)		(64)		(67)		(55)		(2)			(132)		(113)			(19)
Personnel cost (3)	(8)		(12)		—		(6)		—		4			(20)		—			(20)
Professional fees (4)	(5)		(6)		—		—		—		1			(11)		—			(11)
FDIC insurance special assessment	—		—		12		—		—		—			—		—			—
Acquisition-related expenses	(8)		(5)		(33)		(28)		(38)		(3)			(13)		(80)			67
Intangible asset amortization	(11)		(13)		(13)		(13)		(13)		2			(24)		(28)			4
Other noninterest expense (5)	(5)		(4)		(4)		—		(15)		(1)			(9)		(18)			9
Total noninterest expense notable items	(205)		(206)		(204)		(212)		(221)		1			(411)		(437)			26
Adjusted noninterest expense (non-GAAP) (b)	1,346		1,330		1,368		1,279		1,279		16			2,676		2,556			120

Impact of notable items on adjusted pre-tax income (a)-(b)	15		34		18		31		56		(19)			49		116			(67)
Less: income tax impact of notable items (6)	(4)		8		(50)		12		24		(12)			4		39			(35)
Impact of notable items on adjusted net income	$	19	$	26	$	68	$	19	$	32	$	(7)		$	45	$	77		$	(32)

Impact of notable items on adjusted basic and diluted EPS	$	1.57	$	2.23	$	5.46	$	1.54	$	2.42	$	(0.66)		$	3.81	$	5.75		$	(1.94)
Weighted average common shares outstanding (basic and diluted)	11,535,792		11,924,899		12,363,028		12,849,339		13,237,226		(389,107)			11,729,271		13,405,295			(1,676,024)

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

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

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

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

(5) Other noninterest expense includes certain litigation expenses in 2Q26 and 1Q26, a write-off of other assets in 1Q26, a technology fee in 4Q25, and an accrual resulting from a vendor dispute and an increase in litigation reserve in 2Q25.

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

Average Balance Sheets


	Three Months Ended										Increase (Decrease) From LQ				Six Months Ended				Increase (Decrease) From PYTD
dollars in millions	June 30, 2026		March 31, 2026		December 31, 2025		September 30, 2025		June 30, 2025						June 30, 2026		June 30, 2025
Loans and leases (1) (2)	$	149,275	$	148,666	$	145,689	$	141,785	$	140,699	$	609	0.4	%	$	148,973	$	140,099	$	8,874	6.3	%
Investment securities	42,891		41,757		44,306		44,827		43,935		1,134		2.7		42,327		43,746		(1,419)		(3.2)
Securities purchased under agreements to resell	323		305		285		284		237		18		5.7		314		260		54		21.0
Interest-earning deposits at banks	21,501		21,824		23,014		24,146		23,304		(323)		(1.5)		21,662		23,003		(1,341)		(5.8)
Total interest-earning assets (2)	$	213,990	$	212,552	$	213,294	$	211,042	$	208,175	$	1,438	0.7	%	$	213,276	$	207,108	$	6,168	3.0	%

Operating lease equipment, net	$	9,728	$	9,660	$	9,495	$	9,463	$	9,419	$	68	0.7	%	$	9,694	$	9,385	$	309	3.3	%
Cash and due from banks	1,161		921		847		757		804		240		26.1		1,042		795		247		30.4
Allowance for loan and lease losses	(1,579)		(1,587)		(1,649)		(1,702)		(1,713)		8		0.5		(1,583)		(1,709)		126		7.4
All other noninterest-earning assets	11,900		11,635		11,445		10,969		10,867		265		2.3		11,768		10,927		841		7.7
Total assets	$	235,200	$	233,181	$	233,432	$	230,529	$	227,552	$	2,019	0.9	%	$	234,197	$	226,506	$	7,691	3.4	%
Interest-bearing deposits
Checking with interest	$	26,146	$	25,341	$	23,907	$	23,028	$	22,929	$	805	3.2	%	$	25,746	$	23,427	$	2,319	9.9	%
Money market	40,889		41,196		39,792		39,396		37,980		(307)		(0.7)		41,041		37,373		3,668		9.8
Savings	48,357		46,720		46,618		47,005		46,163		1,637		3.5		47,543		45,046		2,497		5.5
Time deposits	13,993		11,946		11,116		11,146		11,510		2,047		17.1		12,975		12,060		915		7.6
Total interest-bearing deposits	129,385		125,203		121,433		120,575		118,582		4,182		3.3		127,305		117,906		9,399		8.0
Borrowings:
Securities sold under customer repurchase agreements	$	162	$	197	$	265	$	442	$	471	$	(35)	(17.6)	%	180		450		(270)		(60.1)	%



Senior unsecured borrowings	1,136		718		556		555		555		418		58.2		928		363		565		155.6
Subordinated debt	1,755		1,771		1,774		1,350		1,473		(16)		(0.9)		1,763		1,218		545		44.8
Other borrowings	30,176		32,648		35,601		35,911		35,880		(2,472)		(7.6)		31,405		35,861		(4,456)		(12.4)
Long-term borrowings	33,067		35,137		37,931		37,816		37,908		(2,070)		(5.9)		34,096		37,442		(3,346)		(8.9)
Total borrowings	33,229		35,334		38,196		38,258		38,379		(2,105)		(6.0)		34,276		37,892		(3,616)		(9.5)
Total interest-bearing liabilities	$	162,614	$	160,537	$	159,629	$	158,833	$	156,961	$	2,077	1.3	%	$	161,581	$	155,798	$	5,783	3.7	%

Noninterest-bearing deposits	$	41,254	$	40,724	$	41,758	$	40,049	$	39,082	$	530	1.3	%	$	40,991	$	39,118	$	1,873	4.8	%
Credit balances of factoring clients	1,327		1,224		1,358		1,175		1,157		103		(8.4)		1,276		1,123		153		(13.6)
Other noninterest-bearing liabilities	7,825		8,209		8,490		8,181		7,864		(384)		(4.7)		8,017		7,995		22		0.3
Stockholders' equity	22,180		22,487		22,197		22,291		22,488		(307)		(1.4)		22,332		22,472		(140)		(0.6)
Total liabilities and stockholders’ equity	$	235,200	$	233,181	$	233,432	$	230,529	$	227,552	$	2,019	0.9	%	$	234,197	$	226,506	$	7,691	3.4	%






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

Net Interest Income


	Three Months Ended										Increase (Decrease) From LQ				Six Months Ended				Increase (Decrease) From PYTD
dollars in millions	June 30, 2026		March 31, 2026		December 31, 2025		September 30, 2025		June 30, 2025						June 30, 2026		June 30, 2025
Loans and leases (1) (2)	$	2,253	$	2,206	$	2,290	$	2,300	$	2,270	$	47	2.1	%	$	4,459	$	4,506	$	(47)	(1.1)	%
Investment securities	398		382		421		430		416		16		4.4		780		827		(47)		(5.6)
Securities purchased under agreements to resell	3		2		3		3		3		1		5.5		5		6		(1)		0.7
Interest-earning deposits at banks	197		196		226		265		256		1		0.5		393		501		(108)		(21.6)
Total interest-earning assets (2)	$	2,851	$	2,786	$	2,940	$	2,998	$	2,945	$	65	2.3	%	$	5,637	$	5,840	$	(203)	(3.5)	%






Interest-bearing deposits
Checking with interest	$	104	$	95	$	94	$	99	$	97	$	9	10.0	%	$	199	$	201	$	(2)	(0.9)	%
Money market	240		242		260		280		269		(2)		(1.0)		482		526		(44)		(8.3)
Savings	420		398		412		435		428		22		5.4		818		845		(27)		(3.2)
Time deposits	117		98		95		97		100		19		19.9		215		215		—		—
Total interest-bearing deposits	881		833		861		911		894		48		5.8		1,714		1,787		(73)		(4.1)
Borrowings:
Securities sold under customer repurchase agreements	—		—		—		1		—		—		—		—		1		(1)		(100.0)



Senior unsecured borrowings	14		10		7		7		8		4		55.0		24		10		14		155.5
Subordinated debt	24		23		24		17		19		1		(1.1)		47		27		20		70.1
Other borrowings	276		299		326		328		329		(23)		(7.6)		575		657		(82)		(12.4)
Long-term borrowings	314		332		357		352		356		(18)		(5.4)		646		694		(48)		(6.8)
Total borrowings	314		332		357		353		356		(18)		(5.4)		646		695		(49)		(7.0)
Total interest-bearing liabilities	$	1,195	$	1,165	$	1,218	$	1,264	$	1,250	$	30	2.6	%	$	2,360	$	2,482	$	(122)	(4.9)	%







Net interest income	$	1,656	$	1,621	$	1,722	$	1,734	$	1,695	$	35	2.2	%	$	3,277	$	3,358	$	(81)	(2.4)	%




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

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


	Three Months Ended										Increase (Decrease) From LQ in bps	Six Months Ended				Increase (Decrease) From PYTD in bps
	June 30, 2026		March 31, 2026		December 31, 2025		September 30, 2025		June 30, 2025			June 30, 2026		June 30, 2025
Loans and leases (1) (2)	6.05	%	6.01	%	6.24	%	6.44	%	6.47	%	4	6.03	%	6.48	%	(45)
Investment securities	3.72		3.67		3.80		3.83		3.79		5	3.70		3.79		(9)
Securities purchased under agreements to resell	3.60		3.65		4.00		4.32		4.34		(5)	3.63		4.36		(73)
Interest-earning deposits at banks	3.67		3.64		3.90		4.36		4.40		3	3.65		4.39		(74)
Total interest-earning assets (2)	5.34	%	5.30	%	5.48	%	5.64	%	5.67	%	4	5.32	%	5.67	%	(35)






Interest-bearing deposits
Checking with interest	1.60	%	1.52	%	1.57	%	1.70	%	1.69	%	8	1.56	%	1.73	%	(17)
Money market	2.35		2.38		2.59		2.82		2.84		(3)	2.37		2.84		(47)
Savings	3.48		3.46		3.51		3.66		3.72		2	3.47		3.79		(32)
Time deposits	3.36		3.31		3.38		3.45		3.48		5	3.34		3.60		(26)
Total interest-bearing deposits	2.73		2.70		2.81		3.00		3.02		3	2.72		3.06		(34)
Borrowings:
Securities sold under customer repurchase agreements	0.35		0.37		0.52		0.51		0.57		(2)	0.36		0.55		(19)



Senior unsecured borrowings	5.13		5.23		5.27		5.27		5.27		(10)	5.16		5.16		—
Subordinated debt	5.27		5.28		5.20		5.02		5.23		(1)	5.27		4.49		78
Other borrowings	3.66		3.66		3.67		3.66		3.66		—	3.66		3.66		—
Long-term borrowings	3.80		3.78		3.76		3.73		3.74		2	3.79		3.70		9
Total borrowings	3.78		3.76		3.74		3.70		3.71		2	3.77		3.66		11
Total interest-bearing liabilities	2.95	%	2.93	%	3.03	%	3.16	%	3.19	%	2	2.94	%	3.20	%	(26)







Net interest income
Net interest spread (2)	2.39	%	2.37	%	2.45	%	2.48	%	2.48	%	2	2.38	%	2.47	%	(9)
Net interest margin (2)	3.10	%	3.09	%	3.20	%	3.26	%	3.26	%	1	3.09	%	3.26	%	(17)


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

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


Deposits by Type
dollars in millions	June 30, 2026		March 31, 2026		December 31, 2025		September 30, 2025		June 30, 2025		Increase (Decrease) From LQ
Noninterest-bearing demand	$	42,475	$	43,606	$	40,653	$	42,752	$	40,879	$	(1,131)	(2.6)	%
Checking with interest	25,778		25,599		24,377		23,731		23,283		179		0.7
Money market	39,964		41,136		38,687		38,718		37,654		(1,172)		(2.9)
Savings	50,083		47,258		46,625		46,915		46,877		2,825		6.0
Time	15,127		13,243		11,236		11,074		11,242		1,884		14.2
Total deposits	$	173,427	$	170,842	$	161,578	$	163,190	$	159,935	$	2,585	1.5	%

Loans and Credit Quality


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

Commercial
Commercial and industrial	$	46,574	$	45,753	$	44,721	$	44,909	$	43,929	$	821	1.8	%
Capital call lines	34,203		32,274		31,791		28,643		26,036		1,929		6.0
Owner occupied commercial mortgage	17,904		17,502		17,660		17,232		17,053		402		2.3
Investor dependent	2,624		2,714		2,778		2,772		2,777		(90)		(3.3)
Commercial real estate	23,233		23,707		23,784		23,255		23,614		(474)		(2.0)
Total commercial	124,538		121,950		120,734		116,811		113,409		2,588		2.1
Consumer
Residential mortgage	21,566		21,698		21,861		22,653		22,657		(132)		(0.6)
Revolving mortgage	2,868		2,863		2,863		2,794		2,736		5		0.2
Auto	1,261		1,332		1,416		1,463		1,490		(71)		(5.4)
Other consumer	801		849		1,056		1,037		977		(48)		(5.7)
Total consumer	26,496		26,742		27,196		27,947		27,860		(246)		(0.9)
Total loans and leases	151,034		148,692		147,930		144,758		141,269		2,342		1.6
Less: allowance for loan and lease losses	(1,484)		(1,558)		(1,566)		(1,652)		(1,672)		(74)		(4.7)
Total loans and leases, net of allowance for loan and lease losses	$	149,550	$	147,134	$	146,364	$	143,106	$	139,597	$	2,416	1.6	%


Accruing Loans, 30-89 Days Past Due																Increase (Decrease) From LQ
dollars in millions	June 30, 2026			March 31, 2026			December 31, 2025			September 30, 2025			June 30, 2025
Commercial
Commercial and industrial	$	204		$	251		$	288		$	325		$	180		$	(47)	(18.9)	%
Capital call lines	—			31			—			—			—			(31)		(100.0)
Owner occupied commercial mortgage	85			89			97			52			86			(4)		(5.3)
Investor dependent	5			8			12			3			4			(3)		(36.5)
Commercial real estate	28			97			252			119			115			(69)		(70.8)
Total commercial	322			476			649			499			385			(154)		(32.5)
Consumer
Residential mortgage	155			173			210			151			169			(18)		(9.9)
Revolving mortgage	28			27			29			19			16			1		7.3
Auto	13			12			18			12			11			1		7.4
Other consumer	7			6			8			7			9			1		3.9
Total consumer	203			218			265			189			205			(15)		(6.4)
Total loans and leases	$	525		$	694		$	914		$	688		$	590		$	(169)	(24.3)	%

As a percentage of total loans
Commercial
Commercial and industrial	0.44		%	0.55		%	0.65		%	0.72		%	0.41		%	(11)		bps
Capital call lines	—			0.10			—			—			—			(10)
Owner occupied commercial mortgage	0.47			0.51			0.55			0.30			0.50			(4)
Investor dependent	0.20			0.30			0.44			0.09			0.13			(10)
Commercial real estate	0.12			0.41			1.06			0.51			0.49			(29)
Total commercial	0.26			0.39			0.54			0.43			0.34			(13)
Consumer
Residential mortgage	0.72			0.79			0.96			0.67			0.75			(7)
Revolving mortgage	0.99			0.92			1.04			0.69			0.60			7
Auto	1.04			0.92			1.24			0.84			0.73			12
Other consumer	0.84			0.76			0.76			0.63			0.85			8
Total consumer	0.77			0.81			0.97			0.68			0.73			(4)
Total loans and leases	0.35		%	0.47		%	0.62		%	0.48		%	0.42		%	(12)		bps

Loans and Credit Quality


Accruing Loans, 90+ Days Past Due																Increase (Decrease) From LQ
dollars in millions	June 30, 2026			March 31, 2026			December 31, 2025			September 30, 2025			June 30, 2025
Commercial
Commercial and industrial	$	37		$	35		$	63		$	10		$	10		$	2	7.4	%
Capital call lines	—			—			—			—			—			—		—
Owner occupied commercial mortgage	14			16			1			—			8			(2)		(12.1)
Investor dependent	—			—			—			—			—			—		—
Commercial real estate	197			185			171			191			113			12		6.4
Total commercial	248			236			235			201			131			12		5.3
Consumer
Residential mortgage	7			7			7			6			5			—		—
Revolving mortgage	—			—			—			—			—			—		—
Auto	—			—			—			—			—			—		—
Other consumer	1			2			2			2			2			(1)		(26.1)
Total consumer	8			9			9			8			7			(1)		(13.7)
Total loans and leases	$	256		$	245		$	244		$	209		$	138		$	11	4.5	%

As a percentage of total loans
Commercial
Commercial and industrial	0.08		%	0.08		%	0.14		%	0.02		%	0.02		%	—		bps
Capital call lines	—			—			—			—			—			—
Owner occupied commercial mortgage	0.08			0.09			—			—			0.04			(1)
Investor dependent	—			—			—			—			—			—
Commercial real estate	0.85			0.78			0.72			0.82			0.48			7
Total commercial	0.20			0.19			0.19			0.17			0.12			1
Consumer
Residential mortgage	0.03			0.03			0.03			0.03			0.02			—
Revolving mortgage	—			0.01			—			—			—			(1)
Auto	—			—			—			—			—			—
Other consumer	0.18			0.24			0.20			0.22			0.26			(6)
Total consumer	0.03			0.04			0.03			0.03			0.03			(1)
Total loans and leases	0.17		%	0.17		%	0.16		%	0.15		%	0.10		%	—		bps

Loans and Credit Quality


Nonaccrual Loans																Increase (Decrease) From LQ
dollars in millions	June 30, 2026			March 31, 2026			December 31, 2025			September 30, 2025			June 30, 2025
Commercial
Commercial and industrial	$	498		$	461		$	456		$	595		$	583		$	37	8.0	%
Capital call lines	—			—			—			—			—			—		—
Owner occupied commercial mortgage	153			162			159			158			92			(9)		(5.2)
Investor dependent	41			37			49			61			69			4		10.2
Commercial real estate	512			524			418			383			366			(12)		(2.2)
Total commercial	1,204			1,184			1,082			1,197			1,110			20		1.7
Consumer
Residential mortgage	196			196			179			167			168			—		—
Revolving mortgage	35			38			35			33			32			(3)		(6.0)
Auto	10			10			9			8			8			—		—
Other consumer	1			1			2			1			1			—		—
Total consumer	242			245			225			209			209			(3)		(1.4)
Total loans and leases	$	1,446		$	1,429		$	1,307		$	1,406		$	1,319		$	17	1.2	%

As a percentage of total loans
Commercial
Commercial and industrial	1.07		%	1.01		%	1.02		%	1.33		%	1.33		%	6		bps
Capital call lines	—			—			—			—			—			—
Owner occupied commercial mortgage	0.86			0.93			0.90			0.91			0.54			(7)
Investor dependent	1.54			1.35			1.75			2.19			2.49			19
Commercial real estate	2.20			2.21			1.76			1.65			1.55			(1)
Total commercial	0.97			0.97			0.90			1.02			0.98			—
Consumer
Residential mortgage	0.91			0.90			0.82			0.74			0.74			1
Revolving mortgage	1.23			1.31			1.22			1.18			1.16			(8)
Auto	0.76			0.77			0.67			0.57			0.55			(1)
Other consumer	0.16			0.14			0.19			0.13			0.12			2
Total consumer	0.91			0.92			0.83			0.75			0.75			(1)
Total loans and leases	0.96		%	0.96		%	0.88		%	0.97		%	0.93		%	—		bps

Other Real Estate Owned
dollars in millions
Other real estate owned	$	113		$	110		$	119		$	95		$	97		$	3	2.4	%


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

Commercial and industrial	$	3,272		$	3,434		$	3,487		$	3,678		$	3,856		$	(162)	(4.7)	%
Capital call lines	—			—			—			—			—			—		—
Owner occupied commercial mortgage	924			1,004			978			1,064			1,010			(80)		(8.0)
Investor dependent	584			577			646			617			647			7		1.2
Commercial real estate	1,557			1,620			1,779			1,816			1,899			(63)		(3.9)
Total criticized commercial loans	$	6,337		$	6,635		$	6,890		$	7,175		$	7,412		$	(298)	(4.5)	%

As a percentage of total loans
Commercial and industrial	7.02		%	7.51		%	7.80		%	8.19		%	8.78		%	(49)		bps
Capital call lines	—			—			—			—			—			—
Owner occupied commercial mortgage	5.16			5.74			5.54			6.17			5.93			(58)
Investor dependent	22.28			21.28			23.22			22.26			23.30			100
Commercial real estate	6.70			6.84			7.48			7.81			8.04			(14)
Total criticized commercial loans	5.09		%	5.44		%	5.71		%	6.14		%	6.54		%	(35)		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				Six Months Ended						Increase (Decrease) From PYTD
dollars in millions	June 30, 2026			March 31, 2026			December 31, 2025			September 30, 2025			June 30, 2025							June 30, 2026			June 30, 2025
Commercial
Commercial and industrial	$	63		$	84		$	76		$	184		$	76		$	(21)	(23.2)	%	$	147		$	142		$	5	3.6	%
Capital call lines	—			—			—			—			—			—		—		—			—			—		—
Owner occupied commercial mortgage	1			4			4			2			1			(3)		(80.7)		5			1			4		762.6
Investor dependent	12			5			20			17			19			7		129.7		17			53			(36)		(67.5)
Commercial real estate	27			12			39			23			20			15		115.6		39			59			(20)		(34.2)
Total commercial	103			105			139			226			116			(2)		(1.2)		208			255			(47)		(18.6)
Consumer
Residential mortgage	—			(1)			(1)			4			(1)			1		100.0		(1)			(1)			—		—
Revolving mortgage	(1)			—			—			—			(1)			(1)		(100.0)		(1)			(1)			—		—
Auto	2			1			1			—			1			1		46.5		3			2			1		51.8
Other consumer	4			6			4			4			4			(2)		(21.0)		10			8			2		20.9
Total consumer	5			6			4			8			3			(1)		(32.0)		11			8			3		40.6
Total net charge-offs	$	108		$	111		$	143		$	234		$	119		$	(3)	(3.1)	%	$	219		$	263		$	(44)	(16.8)	%

Net charge-off ratio (1)
Commercial
Commercial and industrial	0.55		%	0.73		%	0.68		%	1.65		%	0.69		%	(18)		bps		0.64		%	0.64		%	—		bps
Capital call lines	—			—			—			—			—			—				—			—			—
Owner occupied commercial mortgage	0.02			0.09			0.09			0.05			0.01			(7)				0.05			0.01			4
Investor dependent	1.82			0.77			2.88			2.44			2.71			105				1.29			3.61			(232)
Commercial real estate	0.45			0.21			0.67			0.39			0.33			24				0.33			0.50			(17)
Total commercial	0.33			0.34			0.47			0.78			0.41			(1)				0.34			0.45			(11)
Consumer																				—			—
Residential mortgage	(0.01)			—			(0.02)			0.07			(0.02)			(1)				(0.01)			(0.01)			—
Revolving mortgage	(0.01)			(0.04)			(0.02)			—			(0.02)			3				(0.03)			(0.03)			—
Auto	0.30			0.53			0.23			0.25			0.21			(23)				0.42			0.24			18
Other consumer	2.08			2.28			1.54			1.42			1.68			(20)				2.16			1.65			51
Total consumer	0.07			0.10			0.05			0.12			0.05			(3)				0.08			0.06			2
Total net charge-offs (2)	0.29		%	0.30		%	0.39		%	0.65		%	0.33		%	(1)		bps		0.29		%	0.37		%	(8)		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				Six Months Ended				Increase (Decrease) From PYTD
dollars in millions	June 30, 2026		March 31, 2026		December 31, 2025		September 30, 2025		June 30, 2025						June 30, 2026		June 30, 2025
ALLL at beginning of period	$	1,558	$	1,566	$	1,652	$	1,672	$	1,680	$	(8)	(0.5)	%	$	1,566	$	1,676	$	(110)	(6.5)	%


Provision for loan and lease losses	34		103		57		214		111		(69)		(67.5)		137		259		(122)		(47.0)
Charge-offs	(130)		(132)		(174)		(256)		(144)		(2)		(2.0)		(262)		(311)		(49)		(16.0)
Recoveries	22		21		31		22		25		1		7.8		43		48		(5)		(11.0)
Net charge-offs	(108)		(111)		(143)		(234)		(119)		(3)		(3.8)		(219)		(263)		(44)		(16.6)

ALLL at end of period	$	1,484	$	1,558	$	1,566	$	1,652	$	1,672	$	(74)	(4.7)	%	$	1,484	$	1,672	$	(188)	(11.2)	%


Allowance for Loan and Lease Losses (ALLL)																Increase (Decrease) From LQ
dollars in millions	June 30, 2026			March 31, 2026			December 31, 2025			September 30, 2025			June 30, 2025
Commercial
Commercial and industrial	$	740		$	808		$	807		$	814		$	829		$	(68)	(8.3)	%
Capital call lines	28			29			29			29			48			(1)		(3.8)
Owner occupied commercial mortgage	60			52			50			52			53			8		15.4
Investor dependent	170			166			181			201			177			4		2.1
Commercial real estate	355			373			369			428			405			(18)		(5.0)
Total commercial	1,353			1,428			1,436			1,524			1,512			(75)		(5.3)
Consumer
Residential mortgage	72			70			67			69			89			2		3.5
Revolving mortgage	27			28			26			22			19			(1)		(2.6)
Auto	10			9			9			10			9			1		13.0
Other consumer	22			23			28			27			43			(1)		(4.6)
Total consumer	131			130			130			128			160			1		1.4
Total ALLL	$	1,484		$	1,558		$	1,566		$	1,652		$	1,672		$	(74)	(4.8)	%

As a percentage of loans
Commercial
Commercial and industrial	1.59		%	1.77		%	1.80		%	1.82		%	1.89		%	(18)		bps
Capital call lines	0.08			0.09			0.09			0.10			0.18			(1)
Owner occupied commercial mortgage	0.33			0.30			0.28			0.30			0.31			3
Investor dependent	6.46			6.12			6.52			7.24			6.37			34
Commercial real estate	1.53			1.58			1.55			1.84			1.72			(5)
Total commercial	1.09			1.17			1.19			1.31			1.34			(8)
Consumer
Residential mortgage	0.33			0.32			0.31			0.30			0.39			1
Revolving mortgage	0.94			0.96			0.89			0.78			0.70			(2)
Auto	0.83			0.70			0.67			0.66			0.63			13
Other consumer	2.75			2.71			2.62			2.54			4.32			4
Total consumer	0.49			0.48			0.48			0.45			0.56			1
Total loans and leases	0.98		%	1.05		%	1.06		%	1.14		%	1.18		%	(7)		bps


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

Provision for loan and lease losses	$	34	$	103	$	57	$	214	$	111	$	(69)	(67.5)	%	$	137	$	259	(122)		(47.0)	%


(Benefit) provision for off-balance sheet credit exposure	(44)		(32)		(5)		(23)		4		(12)		(36.6)		(76)		10		(86)		nm


Provision for other receivables	—		1		2		—		—		(1)		(100.0)		1		—		1		100.0
(Benefit) provision for credit losses	$	(10)	$	72	$	54	$	191	$	115	$	(82)	(113.9)	%	$	62	$	269	$	(207)	(77.0)	%

Statements of Income by Segment


General Bank	Three Months Ended										Increase (Decrease) From LQ				Six Months Ended				Increase (Decrease) From PYTD
dollars in millions	June 30, 2026		March 31, 2026		December 31, 2025		September 30, 2025		June 30, 2025						June 30, 2026		June 30, 2025
Net interest income	$	819	$	813	$	841	$	846	$	824	$	6	0.8	%	$	1,632	$	1,612		$	20	1.2	%
Total noninterest income	187		172		170		166		164		15		8.5		359		328			31		9.3
Total revenue	1,006		985		1,011		1,012		988		21		2.1		1,991		1,940			51		2.6
Personnel cost	209		215		211		210		207		(6)		(2.9)		424		417			7		1.5

All other noninterest expense	392		385		393		372		373		7		1.8		777		728			49		6.6
Total noninterest expense	601		600		604		582		580		1		0.1		1,201		1,145			56		4.8

Provision for credit losses	54		17		17		1		13		37		215.5		71		59			12		20.9
Income before income taxes	351		368		390		429		395		(17)		(4.6)		719		736			(17)		(2.3)
Income tax expense	85		90		82		109		101		(5)		(5.6)		175		189			(14)		(7.4)
Net income	$	266	$	278	$	308	$	320	$	294	$	(12)	(4.2)	%	$	544	$	547		$	(3)	(0.5)	%


Commercial Bank	Three Months Ended										Increase (Decrease) From LQ				Six Months Ended				Increase (Decrease) From PYTD
dollars in millions	June 30, 2026		March 31, 2026		December 31, 2025		September 30, 2025		June 30, 2025						June 30, 2026		June 30, 2025
Net interest income	$	805	$	802	$	834	$	796	$	789	$	3	0.5	%	$	1,607	$	1,575		$	32	2.0	%
Noninterest Income
Rental income on operating lease equipment	54		55		55		54		54		(1)		(2.6)		109		110			(1)		(1.4)



All other noninterest income	270		230		241		236		228		40		17.5		500		429			71		16.7
Total noninterest income	324		285		296		290		282		39		13.6		609		539			70		13.0

Total revenue	1,129		1,087		1,130		1,086		1,071		42		3.9		2,216		2,114			102		4.8

Noninterest Expense
Personnel cost	186		199		180		184		183		(13)		(6.3)		385		373			12		3.6	%

Depreciation on operating lease equipment	43		43		44		43		44		—		—		86		88			(2)		(2.6)
All other noninterest expense	400		404		432		412		422		(4)		(1.2)		804		842			(38)		(4.6)
Total noninterest expense	629		646		656		639		649		(17)		(2.7)		1,275		1,303			(28)		(2.1)


(Benefit) provision for credit losses	(64)		55		37		190		102		(119)		(216.5)		(9)		210			(219)		(104.3)
Income before income taxes	564		386		437		257		320		178		46.4		950		601			349		58.1
Income tax expense	136		95		102		64		82		41		44.4		231		154			77		49.5
Net income	$	428	$	291	$	335	$	193	$	238	$	137	47.1	%	$	719	$	447		$	272	61.0	%


Rental Income on Operating Lease Equipment (non-GAAP)	Three Months Ended										Increase (Decrease) From LQ				Six Months Ended				Increase (Decrease) From PYTD
dollars in millions	June 30, 2026		March 31, 2026		December 31, 2025		September 30, 2025		June 30, 2025						June 30, 2026		June 30, 2025
Rental income on operating leases (GAAP)	$	54	$	55	$	55	$	54	$	54	$	(1)	(2.6)	%	$	109	$	110		$	(1)	(1.4)	%
Less: depreciation on operating lease equipment	43		43		44		43		44		—		—		86		88			(2)		(2.6)

Adjusted rental income on operating lease equipment (non-GAAP)	$	11	$	12	$	11	$	11	$	10	$	(1)	(8.3)	%	$	23	$	22		$	1	4.6	%

Statements of Income by Segment


Rail	Three Months Ended										Increase (Decrease) From LQ				Six Months Ended				Increase (Decrease) From PYTD
dollars in millions	June 30, 2026		March 31, 2026		December 31, 2025		September 30, 2025		June 30, 2025						June 30, 2026		June 30, 2025
Net interest expense	$	(59)	$	(58)	$	(53)	$	(55)	$	(53)	$	(1)	(2.1)	%	$	(117)	$	(105)		$	(12)	(11)	%
Noninterest Income
Rental income on operating lease equipment	226		226		226		219		218		—		—		452		432			20		4.7



All other noninterest income	7		9		9		2		3		(2)		(28.0)		16		5			11		185.5
Total noninterest income	233		235		235		221		221		(2)		(0.6)		468		437			31		7.0

Total revenue	174		177		182		166		168		(3)		(1.5)		351		332			19		5.8

Noninterest Expense
Personnel cost	6		8		6		6		6		(2)		(14.6)		14		14			—		—

Depreciation on operating lease equipment	58		58		58		55		56		—		—		116		110			6		5.7
Maintenance and other operating lease expenses	67		65		64		67		55		2		3.4		132		113			19		16.5
All other noninterest expense	18		17		16		16		26		1		1.5		35		40			(5)		(15.0)
Total noninterest expense	149		148		144		144		143		1		1.4		297		277			20		6.9



Income before income taxes	25		29		38		22		25		(4)		(15.4)		54		55			(1)		(1.0)
Income tax expense	6		7		9		5		6		(1)		(16.6)		13		14			(1)		(5.0)
Net income	$	19	$	22	$	29	$	17	$	19	$	(3)	(15.1)	%	$	41	$	41		$	—	—	%


Rental Income on Operating Lease Equipment (non-GAAP)	Three Months Ended										Increase (Decrease) From LQ				Six Months Ended				Increase (Decrease) From PYTD
dollars in millions	June 30, 2026		March 31, 2026		December 31, 2025		September 30, 2025		June 30, 2025						June 30, 2026		June 30, 2025
Rental income on operating leases (GAAP)	$	226	$	226	$	226	$	219	$	218	$	—	—	%	$	452	$	432		$	20	4.7	%
Less: depreciation on operating lease equipment	58		58		58		55		56		—		—		116		110			6		5.7
Less: maintenance and other operating lease expenses	67		65		64		67		55		2		3.4		132		113			19		16.5
Adjusted rental income on operating lease equipment (non-GAAP)	$	101	$	103	$	104	$	97	$	107	$	(2)	(1.9)	%	$	204	$	209		$	(5)	(2.4)	%


Corporate (1)	Three Months Ended										Increase (Decrease) From LQ				Six Months Ended				Increase (Decrease) From PYTD
dollars in millions	June 30, 2026		March 31, 2026		December 31, 2025		September 30, 2025		June 30, 2025						June 30, 2026		June 30, 2025
Net interest income	$	91	$	64	$	100	$	147	$	135	$	27	40.7	%	$	155	$	276		$	(121)	(43.7)	%
Total noninterest income	32		—		14		22		11		32		100.0		32		9			23		268.9
Total revenue	123		64		114		169		146		59		89.9		187		285			(98)		(34.1)
Personnel cost	443		447		452		417		414		(4)		(1.1)		890		824			66		8.0
Acquisition-related expenses	8		5		33		28		38		3		90.4		13		80			(67)		(83.7)
All other noninterest expense (2)	(279)		(310)		(317)		(319)		(324)		31		9.8		(589)		(636)			47		7.6
Total noninterest expense	172		142		168		126		128		30		20.6		314		268			46		17.7

Provision for credit losses	—		—		—		—		—		—		—		—		—			—		—
(Loss) Income before income taxes	(49)		(78)		(54)		43		18		29		36.9		(127)		17			(144)		NM
Income tax (benefit) expense	(8)		(21)		38		5		(6)		13		56.8		(29)		(6)			(23)		(336.7)
Net (loss) income	$	(41)	$	(57)	$	(92)	$	38	$	24	$	16	29.9	%	$	(98)	$	23		$	(121)	(517.2)	%

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

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

Loans and Deposits by Segment


Loans and Leases											Increase (Decrease) From LQ
dollars in millions	June 30, 2026		March 31, 2026		December 31, 2025		September 30, 2025		June 30, 2025
At Period End
General Bank	$	64,355	$	64,367	$	64,958	$	65,225	$	64,987	$	(12)	—	%
Commercial Bank	86,635		84,263		82,910		79,470		76,220		2,372		2.8


Rail and Corporate	44		62		62		63		62		(18)		(29.0)
Total loans and leases	$	151,034	$	148,692	$	147,930	$	144,758	$	141,269	$	2,342	1.6	%

	Three Months Ended										Increase (Decrease) From LQ				Six Months Ended				Increase (Decrease) From PYTD
dollars in millions	June 30, 2026		March 31, 2026		December 31, 2025		September 30, 2025		June 30, 2025						June 30, 2026		June 30, 2025
Average Balances
General Bank	$	64,385	$	64,884	$	65,324	$	65,059	$	64,949	$	(499)	(0.8)	%	$	64,633	$	64,920	$	(287)	(0.4)	%
Commercial Bank	85,425		83,993		81,400		77,608		76,700		1,432		1.7		84,714		76,276		8,438		11.1
Rail and Corporate	284		244		220		190		142		40		16.4		264		92		172		185.1
Total loans and leases	$	150,094	$	149,121	$	146,944	$	142,857	$	141,791	$	973	0.7	%	$	149,611	$	141,288	$	8,323	5.9	%


Deposits											Increase (Decrease) From LQ
dollars in millions	June 30, 2026		March 31, 2026		December 31, 2025		September 30, 2025		June 30, 2025
At Period End
General Bank	$	75,718	$	75,914	$	74,796	$	74,596	$	73,499	$	(196)	(0.3)	%
Commercial Bank	45,690		47,191		41,532		42,869		40,697		(1,501)		(3.2)
Rail	2		2		2		2		3		—		—
Corporate- Direct Bank	48,222		45,408		44,802		45,146		45,111		2,814		6.2
Corporate- other (1)	3,795		2,327		446		577		625		1,468		63.1
Corporate	52,017		47,735		45,248		45,723		45,736		4,282		9.0
Total deposits	$	173,427	$	170,842	$	161,578	$	163,190	$	159,935	$	2,585	1.5	%

	Three Months Ended										Increase (Decrease) From LQ				Six Months Ended				Increase (Decrease) From PYTD
dollars in millions	June 30, 2026		March 31, 2026		December 31, 2025		September 30, 2025		June 30, 2025						June 30, 2026		June 30, 2025
Average Balances
General Bank	$	75,603	$	75,199	$	75,398	$	73,882	$	73,645	$	404	0.5	%	$	75,402	$	73,587	$	1,815	2.5	%
Commercial Bank	45,200		44,546		42,273		40,619		38,497		654		1.5		44,875		38,712		6,163		15.9
Rail	2		2		2		2		7		—		—		2		12		(10)		(79.7)
Corporate- Direct Bank	46,493		44,883		44,818		45,221		44,444		1,610		3.6		45,692		43,457		2,235		5.1
Corporate- other (1)	3,341		1,297		700		900		1,071		2,044		157.6		2,325		1,256		1,069		85.1
Corporate	49,834		46,180		45,518		46,121		45,515		3,654		7.9		48,017		44,713		3,304		7.4
Total deposits	$	170,639	$	165,927	$	163,191	$	160,624	$	157,664	$	4,712	2.8	%	$	168,296	$	157,024	$	11,272	7.2	%

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

Purchase Accounting Summary



dollars in millions	June 30, 2026		March 31, 2026		December 31, 2025		September 30, 2025		June 30, 2025
Loans and leases (including off-balance sheet exposure) (1)
Beginning balance - unamortized fair value mark	$	(1,300)	$	(1,351)	$	(1,411)	$	(1,483)	$	(1,561)



Other	5		3		1		1		3
Accretion	55		48		59		71		75
Ending balance	$	(1,240)	$	(1,300)	$	(1,351)	$	(1,411)	$	(1,483)

Core deposits and other intangibles
Beginning balance	$	182	$	195	$	208	$	221	$	234


Amortization	(11)		(13)		(13)		(13)		(13)
Ending balance	$	171	$	182	$	195	$	208	$	221







Borrowings (2)
Beginning balance - unamortized fair value mark	$	61	$	78	$	97	$	107	$	116


Amortization	(7)		(9)		(10)		(10)		(9)
Loss on extinguishment of debt	(7)		(8)		(9)		—		—
Ending balance	$	47	$	61	$	78	$	97	$	107

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

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

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

Non-GAAP Reconciliations


		Three Months Ended										Six Months Ended
dollars in millions, except share and per share data		June 30, 2026		March 31, 2026		December 31, 2025		September 30, 2025		June 30, 2025		June 30, 2026		June 30, 2025
Net income and EPS
Net income (GAAP)	a	$	672	$	534	$	580	$	568	$	575	$	1,206	$	1,058
Preferred stock dividends		32		26		14		14		14		58		29
Net income available to common stockholders (GAAP)	b	$	640	$	508	$	566	$	554	$	561	$	1,148	$	1,029
Total notable items, after income tax	c	19		26		68		19		32		45		77
Adjusted net income (non-GAAP)	d = (a+c)	691		560		648		587		607		1,251		1,135
Adjusted net income available to common stockholders (non-GAAP)	e = (b+c)	$	659	$	534	$	634	$	573	$	593	$	1,193	$	1,106
Weighted average common shares outstanding
Basic	f	11,535,792		11,924,899		12,363,028		12,849,339		13,237,226		11,729,271		13,405,295
Diluted	g	11,535,792		11,924,899		12,363,028		12,849,339		13,237,226		11,729,271		13,405,295
EPS (GAAP)
Basic	b/f	$	55.52	$	42.63	$	45.81	$	43.08	$	42.36	$	97.95	$	76.73
Diluted	b/g	55.52		42.63		45.81		43.08		42.36		97.95		76.73
Adjusted EPS (non-GAAP)
Basic	e/f	$	57.09	$	44.86	$	51.27	$	44.62	$	44.78	$	101.76	$	82.48
Diluted	e/g	57.09		44.86		51.27		44.62		44.78		101.76		82.48

Noninterest income and expense
Noninterest income (GAAP)	h	$	776	$	692	$	715	$	699	$	678	$	1,468	$	1,313
Impact of notable items, before income tax		(190)		(172)		(186)		(181)		(165)		(362)		(321)
Adjusted noninterest income (non-GAAP)	i	$	586	$	520	$	529	$	518	$	513	$	1,106	$	992

Noninterest expense (GAAP)	j	$	1,551	$	1,536	$	1,572	$	1,491	$	1,500	$	3,087	$	2,993
Impact of notable items, before income tax		(205)		(206)		(204)		(212)		(221)		(411)		(437)
Adjusted noninterest expense (non-GAAP)	k	$	1,346	$	1,330	$	1,368	$	1,279	$	1,279	$	2,676	$	2,556







PPNR
Net income (GAAP)	a	$	672	$	534	$	580	$	568	$	575	$	1,206	$	1,058
Plus: (benefit) provision for credit losses		(10)		72		54		191		115		62		269
Plus: income tax expense		219		171		231		183		183		390		351
PPNR (non-GAAP)	l	$	881	$	777	$	865	$	942	$	873	$	1,658	$	1,678
Impact of notable items (1)		15		34		18		31		56		49		116
Adjusted PPNR (non-GAAP)	m	$	896	$	811	$	883	$	973	$	929	$	1,707	$	1,794

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

Non-GAAP Reconciliations


		Three Months Ended															Six Months Ended
dollars in millions		June 30, 2026			March 31, 2026			December 31, 2025			September 30, 2025			June 30, 2025			June 30, 2026			June 30, 2025
ROA
Net income (GAAP)	a	$	672		$	534		$	580		$	568		$	575		$	1,206		$	1,058
Annualized net income	n = a annualized	2,699			2,164			2,303			2,254			2,307			2,433			2,133
Adjusted net income (non-GAAP)	d	691			560			648			587			607			1,251			1,135
Annualized adjusted net income	p = d annualized	2,771			2,272			2,571			2,332			2,435			2,523			2,288
Average assets	o	235,200			233,181			233,432			230,529			227,552			234,197			226,506
ROA	n/o	1.15		%	0.93		%	0.99		%	0.98		%	1.01		%	1.04		%	0.94		%
Adjusted ROA (non-GAAP)	p/o	1.18			0.97			1.10			1.01			1.07			1.08			1.01

PPNR ROA
PPNR (non-GAAP)	l	$	881		$	777		$	865		$	942		$	873		$	1,658		$	1,678
Annualized PPNR	q = l annualized	3,536			3,152			3,430			3,738			3,501			3,345			3,383
Adjusted PPNR (non-GAAP)	m	896			811			883			973			929			1,707			1,794
Annualized adjusted PPNR	r = m annualized	3,595			3,288			3,504			3,860			3,728			3,442			3,618
PPNR ROA (non-GAAP)	q/o	1.50		%	1.35		%	1.47		%	1.62		%	1.54		%	1.43		%	1.49		%
Adjusted PPNR ROA (non-GAAP)	r/o	1.53			1.41			1.50			1.67			1.64			1.47			1.60

ROE and ROTCE
Annualized net income available to common stockholders	s = b annualized	$	2,569		$	2,062		$	2,247		$	2,196		$	2,249		$	2,317		$	2,074
Annualized adjusted net income available to common stockholders	t = e annualized	$	2,642		$	2,170		$	2,515		$	2,275		$	2,377		$	2,407		$	2,230

Average stockholders' equity (GAAP)		$	22,180		$	22,487		$	22,197		$	22,291		$	22,488		$	22,332		$	22,472
Less: average preferred stock		1,765			1,613			1,117			881			881			1,689			881
Average common stockholders' equity	u	$	20,415		$	20,874		$	21,080		$	21,410		$	21,607		$	20,643		$	21,591
Less: average goodwill		346			346			346			346			346			346			346
Less: average other intangible assets		179			191			204			216			229			185			236
Average tangible common equity (non-GAAP)	v	$	19,890		$	20,337		$	20,530		$	20,848		$	21,032		$	20,112		$	21,009
ROE	s/u	12.58		%	9.88		%	10.66		%	10.26		%	10.41		%	11.22		%	9.61		%
Adjusted ROE (non-GAAP)	t/u	12.94			10.39			11.93			10.62			11.00			11.66			10.33
ROTCE (non-GAAP)	s/v	12.92			10.14			10.94			10.53			10.69			11.52			9.87
Adjusted ROTCE (non-GAAP)	t/v	13.28			10.67			12.25			10.91			11.30			11.97			10.61

Tangible common equity to tangible assets at period end
Stockholders' equity (GAAP)	w	$	21,900		$	22,048		$	22,238		$	21,986		$	22,296
Less: preferred stock		1,765			1,765			1,375			881			881
Common equity	x	$	20,135		$	20,283		$	20,863		$	21,105		$	21,415
Less: goodwill	y	346			346			346			346			346
Less: other intangible assets	z	171			182			195			208			221
Tangible common equity (non-GAAP)	aa	$	19,618		$	19,755		$	20,322		$	20,551		$	20,848
Total assets (GAAP)	bb	236,842			235,959			229,698			233,488			229,653
Tangible assets (non-GAAP)	cc = bb - (y + z)	236,325			235,431			229,157			232,934			229,086
Total equity to total assets (GAAP)	w/bb	9.25		%	9.34		%	9.68		%	9.42		%	9.71		%
Tangible common equity to tangible assets (non-GAAP)	aa/cc	8.30			8.39			8.87			8.82			9.10


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

Non-GAAP Reconciliations


		Three Months Ended															Six Months Ended
dollars in millions, except share and per share data		June 30, 2026			March 31, 2026			December 31, 2025			September 30, 2025			June 30, 2025			June 30, 2026			June 30, 2025
Book value and tangible book value per common share at period end
Common shares outstanding at period end	dd	11,390,407			11,689,314			12,139,159			12,618,629			13,075,979
Book value per share	x/dd	$	1,767.79		$	1,735.18		$	1,718.71		$	1,672.54		$	1,637.72
Tangible book value per common share (non-GAAP)	aa/dd	1,722.35			1,689.96			1,674.11			1,628.64			1,594.38

Efficiency ratio
Net interest income	ee	$	1,656		$	1,621		$	1,722		$	1,734		$	1,695		$	3,277		$	3,358
Efficiency ratio (GAAP)	j / (h + ee)	63.75		%	66.41		%	64.53		%	61.27		%	63.22		%	65.05		%	64.08		%
Adjusted efficiency ratio (non-GAAP)	k / (i + ee)	60.05			62.13			60.79			56.78			57.92			61.06			58.75

Rental income on operating lease equipment
Rental income on operating lease equipment (GAAP)		$	280		$	281		$	281		$	273		$	272		$	561		$	542
Less: depreciation on operating lease equipment		101			101			102			98			100			202			198
Less: maintenance and other operating lease expenses		67			65			64			67			55			132			113

Adjusted rental income on operating lease equipment (non-GAAP)		$	112		$	115		$	115		$	108		$	117		$	227		$	231

Rental income on operating lease equipment: Commercial Bank Segment
Rental income on operating leases (GAAP)		$	54		$	55		$	55		$	54		$	54		$	109		$	110
Less: depreciation on operating lease equipment		43			43			44			43			44			86			88

Adjusted rental income on operating lease equipment (non-GAAP)		$	11		$	12		$	11		$	11		$	10		$	23		$	22

Rental income on operating lease equipment: Rail Segment
Rental income on operating leases (GAAP)		$	226		$	226		$	226		$	219		$	218		$	452		$	432
Less: depreciation on operating lease equipment		58			58			58			55			56			116			110
Less: maintenance and other operating lease expenses		67			65			64			67			55			132			113
Adjusted rental income on operating lease equipment (non-GAAP)		$	101		$	103		$	104		$	97		$	107		$	204		$	209

Non-GAAP Reconciliations


		Three Months Ended															Six Months Ended
dollars in millions		June 30, 2026			March 31, 2026			December 31, 2025			September 30, 2025			June 30, 2025			June 30, 2026			June 30, 2025
Net interest income & Net interest margin
Net interest income (GAAP)	ee	$	1,656		$	1,621		$	1,722		$	1,734		$	1,695		$	3,277		$	3,358
Loan PAA	ff	55			48			59			71			75			103			159
Other PAA	gg	(7)			(9)			(10)			(10)			(9)			(16)			(17)
PAA	hh = (ff + gg)	$	48		$	39		$	49		$	61		$	66		$	87		$	142
Net interest income, excluding PAA (non-GAAP)	ii = (ee - hh)	$	1,608		$	1,582		$	1,673		$	1,673		$	1,629		$	3,190		$	3,216

Annualized net interest income	jj = ee annualized	$	6,642		$	6,575		$	6,834		$	6,878		$	6,800		$	6,609		$	6,772
Annualized net interest income, excluding PAA	kk = ii annualized	6,451			6,416			6,640			6,637			6,533			6,434			6,486
Average interest-earning assets	ll	213,990			212,552			213,294			211,042			208,175			213,276			207,108

NIM (GAAP)	jj/ll	3.10		%	3.09		%	3.20		%	3.26		%	3.26		%	3.09		%	3.26		%
NIM, excluding PAA (non-GAAP)	kk/ll	3.01			3.01			3.11			3.15			3.14			3.01			3.13

Interest income on loans (GAAP)		$	2,253		$	2,206		$	2,290		$	2,300		$	2,270		$	4,459		$	4,506
Less: loan PAA	ff	55			48			59			71			75			103			159
Interest income on loans, excluding loan PAA (non-GAAP)		$	2,198		$	2,158		$	2,231		$	2,229		$	2,195		$	4,356		$	4,347

Personnel cost
Personnel cost (GAAP)		$	844		$	869		$	849		$	817		$	810		$	1,713		$	1,628
Less: impact of notable items		8			12			—			6			—			20			—
Adjusted personnel cost (non-GAAP)		$	836		$	857		$	849		$	811		$	810		$	1,693		$	1,628

Professional fees
Professional fees (GAAP)		$	26		$	24		$	34		$	26		$	30		$	50		$	55
Less: impact of notable items		5			6			—			—			—			11			—
Adjusted professional fees (non-GAAP)		$	21		$	18		$	34		$	26		$	30		$	39		$	55












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

Source: View Original Filing on SEC EDGAR

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