S&T Bancorp Q3 2026 EPS rises 19.8% to $1.09
Quarterly earnings per share rose against both prior-quarter and prior-year comparisons, while net interest margin on an FTE basis was 4.06%.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Form Type
8-K
Rhea-AI Filing Summary
S&T Bancorp, Inc. reported third-quarter 2026 net income of $38.6 million and earnings per share of $1.09. EPS rose 6.9% from 2Q26 and 19.8% from 3Q25. Return on assets was 1.55%, return on equity was 10.84%, and net interest margin on an FTE basis was 4.06%. Its 3Q26 balance sheet lists $9.889 billion in assets and $8.064 billion in deposits.
Net interest income was $93.1 million, versus $90.4 million in 2Q26 and $89.2 million in 3Q25; net interest margin on an FTE basis was 4.06%, compared with 3.99% in 2Q26. Nonperforming assets were $36.5 million, or 0.45% of total loans plus OREO. Net loan charge-offs were $2.1 million, or 0.10% of average loans, annualized. The securities portfolio had a $76.2 million net unrealized loss.
There were no share repurchases in 3Q26. Since repurchases began in 4Q25, S&T repurchased 3,169,294 shares, or 8.3% of outstanding shares, at an average price of $42.09 per share, totaling $133.4 million. S&T reported a new $100 million share repurchase authorization in July 2026. Available funding sources totaled $3.985 billion.
2 points · 0 major0 major · 0 points
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Positive
- Moderate pointEPS: $1.09, up 6.9% from 2Q26 and 19.8% from 3Q25.
- Moderate pointRepurchases since 4Q25 totaled 8.3% of outstanding shares.
Negative
- None.
8-K Event Classification
2 items: 7.01, 9.01
2 items
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, or exhibit attachments filed with this report.
Key Figures
Net income: $38.6 million
Earnings per share: $1.09
EPS change: 6.9% from 2Q26; 19.8% from 3Q25
+5 more
8 metrics
Net income
$38.6 million
Third quarter 2026
Earnings per share
$1.09
Third quarter 2026
EPS change
6.9% from 2Q26; 19.8% from 3Q25
Third quarter 2026
Net interest income
$93.1 million
Third quarter 2026
Net interest margin (FTE)
4.06%
Third quarter 2026
Total assets
$9.889 billion
3Q26 balance sheet
Share repurchases since 4Q25
3,169,294 shares; $133.4 million
Average price $42.09 per share; 8.3% of outstanding shares
Available funding sources
$3.985 billion
Third quarter 2026
Key Terms
Net interest margin (FTE), Allowance for Credit Losses (ACL), Net loan charge-offs, Pre-provision net revenue
4 terms
Net interest margin (FTE) financial
"Net interest margin (FTE) (non-GAAP)"
Net interest margin (FTE) measures the difference between interest earned on a lender’s assets (like loans and investments) and interest paid on liabilities (like deposits), expressed as a percentage of earning assets, with income from tax-exempt sources converted to a taxable-equivalent basis. Think of it as a loan business’s profit margin on money it lends, adjusted so tax-free income is reported on the same footing as taxable income; investors use it to compare how effectively a firm is generating interest income.
Allowance for Credit Losses (ACL) financial
"Allowance for Credit Losses (ACL)"
Allowance for credit losses (ACL) is an accounting reserve banks and lenders set aside to cover loans and other receivables that may not be repaid. Think of it as a cushion or rainy-day fund that reduces reported assets to reflect expected losses; when the cushion grows, it can signal rising borrower trouble or more conservative accounting, and when it shrinks, it may boost reported profits and capital. Investors watch ACL to judge a lender’s risk exposure, earnings quality, and capital strength.
Net loan charge-offs financial
"Net loan charge-offs of $2.1 million"
The amount banks and lenders remove from their balance sheets when loans are deemed uncollectible, after subtracting any later recoveries from previously written-off loans. It measures the net loss from borrowers who fail to repay their debts during a reporting period. Investors use it to judge a lender’s credit quality and potential future profits; rising net charge-offs are like a store repeatedly finding unpaid tabs it can’t collect, shrinking earnings and capital cushions.
Pre-provision net revenue financial
"Pre-provision net revenue to average assets"
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.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What were STBA’s third-quarter 2026 earnings?
S&T Bancorp reported third-quarter 2026 net income of $38.6 million and EPS of $1.09. EPS rose 6.9% from 2Q26 and 19.8% from 3Q25.
How much available funding did STBA report?
S&T listed $3.985 billion of available funding sources, consisting of $1.801 billion available from the FHLB and $2.184 billion available from the Federal Reserve. Total funding capacity was $4.304 billion, with $319 million used.
What was STBA’s loan portfolio mix?
S&T reported commercial real estate loans of $3.551 billion (44% of the portfolio), consumer loans of $2.514 billion (31%), commercial and industrial loans of $1.539 billion (19%), and construction loans of $450 million (6%).
AI-generated analysis. How Rhea-AI works. Not financial advice.
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)
(Exact name of registrant as specified in its charter)
(State or other jurisdiction of incorporation or organization) | (Commission File Number) | (I.R.S. Employer Identification No.) | ||||||||||||
(Address of Principal Executive Offices) | (Zip Code) | |||||||||||||
(800 ) 325-2265
Registrant's telephone number, including area code
(Not applicable)
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||
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 7.01 Regulation FD Disclosure.
The attached investor presentation contains financial data that members of management will use from time to time during visits with investors, analysts and other interested parties to assist in their understanding of S&T Bancorp, Inc. (“S&T”). This investor presentation is available on S&T’s website at www.stbancorp.com. A copy of the investor presentation is attached as Exhibit 99.1 to this report and is incorporated herein by reference.
The information in this Current Report on Form 8-K is being furnished under Item 7.01 and shall not be deemed to be “filed” for the purposes of Section 18 of the Securities and Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities of such section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
| Exhibit No. | Description of Exhibit | |||||||
99.1 | Investor Presentation | |||||||
| 104 | Cover Page Interactive Data File (embedded in the cover page formatted in Inline XBRL) | |||||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed by the undersigned thereunto duly authorized.
S&T Bancorp, Inc. | |||||
| /s/ Mark Kochvar | |||||
November 3, 2026 | Mark Kochvar Senior Executive Vice President, Chief Financial Officer | ||||
Christopher J. McComish Chief Executive Officer Mark Kochvar Chief Financial Officer Third Quarter 2026
Forward-looking Statements and Risk Factors This information contains or incorporates statements that we believe are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to our financial condition, results of operations, plans, objectives, outlook for earnings, revenues, expenses, capital and liquidity levels and ratios, asset levels, asset quality, financial position and other matters regarding or affecting S&T and its future business and operations. Forward-looking statements are typically identified by words or phrases such as “will likely result,” “expect,” “anticipate,” “estimate,” “forecast,” “project,” “intend,” “believe,” “assume,” “strategy,” “trend,” “plan,” “outlook,” “outcome,” “continue,” “remain,” “potential,” “opportunity,” “comfortable,” “current,” “position,” “maintain,” “sustain,” “seek,” “achieve” and variations of such words and similar expressions, or future or conditional verbs such as “will,” “would,” “should,” “could” or “may.” Although we believe the assumptions upon which these forward-looking statements are based are reasonable, any of these assumptions could prove to be inaccurate and the forward-looking statements based on these assumptions could be incorrect. The matters discussed in these forward-looking statements are subject to various risks, uncertainties and other factors that could cause actual results and trends to differ materially from those made, projected or implied in or by the forward-looking statements depending on a variety of uncertainties or other factors including, but not limited to: credit losses and the credit risk of our commercial and consumer loan products; changes in the level of charge- offs and changes in estimates of the adequacy of the allowance for credit losses, or ACL; cybersecurity concerns; rapid technological developments and changes, including the use of artificial intelligence and digital assets; operational risks or risk management failures by us or critical third parties, including fraud risk; our ability to manage our brand risks; sensitivity to the interest rate environment, a rapid increase in interest rates or a change in the shape of the yield curve; a change in spreads on interest-earning assets and interest-bearing liabilities; regulatory supervision and oversight, including changes in regulatory capital requirements and our ability to address those requirements; unanticipated changes in our liquidity position; unanticipated changes in regulatory and governmental policies impacting interest rates and financial markets; changes in accounting policies, practices or guidance; legislation affecting the financial services industry as a whole, and S&T, in particular; developments affecting the industry and the soundness of financial institutions and further disruption to the economy and U.S. banking system; the outcome of pending and future litigation and governmental proceedings; increasing price and product/service competition; the ability to continue to introduce competitive new products and services on a timely, cost-effective basis; managing our internal growth and acquisitions; the possibility that the anticipated benefits from acquisitions cannot be fully realized in a timely manner or at all, or that integrating the acquired operations will be more difficult, disruptive or costly than anticipated; containing costs and expenses; reliance on significant customer relationships; an interruption or cessation of an important service by a third-party provider; our ability to attract and retain talented executives and other employees; general economic or business conditions, including the strength of regional economic conditions in our market area; ESG practices and disclosures, including climate change, hiring practices, the diversity of the work force and racial and social justice issues; deterioration of the housing market and reduced demand for mortgages; deterioration in the overall macroeconomic conditions or the state of the banking industry that could warrant further analysis of the carrying value of goodwill and could result in an adjustment to its carrying value resulting in a non-cash charge to net income; the stability of our core deposit base and access to contingency funding; re-emergence of turbulence in significant portions of the global financial and real estate markets that could impact our performance, both directly, by affecting our revenues and the value of our assets and liabilities, and indirectly, by affecting the economy generally and access to capital in the amounts, at the times and on the terms required to support our future businesses and geopolitical tensions and conflicts between nations. Many of these factors, as well as other factors, are described in our Annual Report on Form 10-K for the year ended December 31, 2025, including Part I, Item 1A-"Risk Factors" and any of our subsequent filings with the SEC. Forward-looking statements are based on beliefs and assumptions using information available at the time the statements are made. We caution you not to unduly rely on forward-looking statements because the assumptions, beliefs, expectations and projections about future events may, and often do, differ materially from actual results. Any forward-looking statement speaks only as to the date on which it is made, and we undertake no obligation to update any forward-looking statement to reflect developments occurring after the statement is made. Non-GAAP Financial Measures In addition to traditional measures presented in accordance with GAAP, our management uses, and this information contains or references, certain non-GAAP financial measures, such as tangible book value, return on average tangible shareholders’ equity, PPNR to average assets, efficiency ratio on an FTE basis, tangible common equity to tangible assets and net interest margin on an FTE basis. We believe these non-GAAP financial measures provide information useful to investors in understanding our underlying operational performance and our business and performance trends as they facilitate comparisons with the performance of other companies in the financial services industry. Although we believe that these non-GAAP financial measures enhance investors’ understanding of our business and performance, these non-GAAP financial measures should not be considered alternatives to GAAP or considered to be more important than financial results determined in accordance with GAAP, nor are they necessarily comparable with non-GAAP measures which may be presented by other companies. The non-GAAP financial measures contained within this presentation should be read in conjunction with the audited financial statements and analysis as presented in the Annual Report on Form 10-K as well as the unaudited financial statements and analyses as presented in the respective Quarterly Reports on Form 10-Q and in Exhibit 99.1 of Form 8-K for S&T Bancorp, Inc. and subsidiaries. 2
3 • Founded in Indiana, PA in 1902 • $9.9 billion in assets • $8.1 billion in deposits • $8.1 billion in loans • $1.7 billion market cap • Stock symbol: STBA Corporate Profile
Geographic Footprint 4 Serving 130,000 households in Pennsylvania and Ohio Footprint comprises 9.8 million people and 222,000 businesses 1,200 team members providing exceptional customer satisfaction at more than 70 locations Akron Columbus Philadelphia Harrisburg Pittsburgh Indiana City Branch
5 Strategic Path VALUES PURPOSE DRIVERS Our Shared Future represents a journey focused on building a foundation that enables profitable and sustainable growth.
Performance Drivers and Targets 6 Enterprise Risk Management Talent & Engagement Deposit Franchise Loans/Deposits below median Cost of Deposits below median Core Profitability PPNR/Avg Assets* top quartile NIM (FTE)* above median Asset Quality NCO/Loans below median NPA/Loans & OREO below median Valuation Price/Tangible Book Value top quartile Total Shareholder Return top quartile Performance Drivers and Targets(1) Goals Delivering long-term, sustainable financial performance (1)Targets are measured against our peer group. Refer to appendix for peer group. *Non-GAAP financial measure.
Strategic Priorities Execute customer growth strategies to improve operating leverage Organic Growth Maintain strong asset quality through disciplined credit risk management practices Asset Quality Strategically manage capital through organic growth, selective M&A and share repurchases Capital Management
Strategy Deposits Households Loans 8 Organic Growth 130,000 124,000 (95% of total) $8.1B $8.0B $2.1B (26% of total) $5.6B (70% of total) $1.2B (15% of total) $0.8B (10% of total) 5,000 (4% of total) 1,000 (1% of total) $1.6B (20% of total) $4.8B (59% of total) • Consistent growth through further penetration of C&I in existing footprint with strategic expansion of CRE • Drive deposit growth through increased Treasury Management penetration including enhanced payments capabilities Execute customer growth strategies to improve operating leverage • Evolving from an asset generating focus to a more balanced deposit-led strategy • Drive deposit growth through Treasury Management solutions including digital offerings • Acquire, deepen and retain households using a data-enabled framework • Drive deposit growth through relationship‑led execution with data‑enabled tools and enhanced digital engagement Customer Type Consumers and small businesses <$1 million revenue $1 - $15 million revenue > $15 million revenue Data as of September 30, 2026 Loan and deposit balances are presented based on internal line-of-business classification and do not reconcile to loans and deposits elsewhere within this presentation.
9 Capital Management Dollars in millions *Non-GAAP financial measure. Refer to appendix for reconciliation of non-GAAP financial measures • Strong capital position provides flexibility to support organic growth, pursue selective acquisitions and repurchase shares • No share repurchases in 3Q26. Since share repurchases began in 4Q25, repurchased 3,169,294 shares, or 8.3% of outstanding shares, at an average price of $42.09 per share totaling $133.4 million • $100 million new share repurchase authorization in July of 2026 3Q 2026
10 M&A Target Priorities • Existing or contiguous market expansion with institutions $1 - $6 billion in assets • Enhancement of deposit franchise • Alignment of cultures • Access to growing markets S&T Preparedness • Significant levels of capital • Strong performer with solid return metrics • Infrastructure for growth • Foundation built for enhanced regulatory oversight • Strong leadership team blending legacy with new large-bank expertise • Industry leading employee engagement and customer loyalty Mergers & Acquisitions Strategically positioned to capitalize on selective M&A opportunities
11 Asset Quality 0.23% 2.92% (1)Peer median. Refer to appendix for peer group. Peer data from S&P Global Market Intelligence. *2Q26 peer data 1.32% 14.41% Maintain strong asset quality through disciplined credit risk management practices Asset Quality Highlights • Asset quality improvement reflects a multi‑year strategic focus on strengthening credit risk management practices • Criticized and classified loans have declined materially since 2022, positively impacting earnings in 2024 through 2025 with a lower level of allowance for credit losses • Allowance for credit losses reflects reduced credit risk and aligns with peer median (1)* (1)*
12 Third Quarter Overview RETURN METRICS EARNINGS Net Income $38.6 million EPS $1.09 ROA 1.55% ROE 10.84% ROTE* 14.81% PPNR* 2.01% ACL 1.16% NCO(1) 0.10% ASSET QUALITY NPA 0.45% NIM (FTE)* 4.06% Efficiency Ratio (FTE)* 53.23% BALANCE SHEET Loan decline $(4.4) million (0.2)% (annualized) Deposit decline $(22.2) million (1.1)% (annualized) OTHER Dollars in millions *Non-GAAP financial measure. Refer to appendix for reconciliation of non-GAAP financial measures(1)QTD Annualized HIGHLIGHTS • Record EPS with growth of 6.9% from 2Q26 and 19.8% from 3Q25 • Strong earnings and return metrics • Solid NIM (FTE)* at 4.06% • Asset quality remains favorable with declining NPAs and low net charge-offs • Efficiency ratio (FTE)* declined to 53.23%, reflecting positive operating leverage
PPNR / AVERAGE ASSETS * 2022 2023 2024 2025 YTD 2026 0.0% 0.6% 1.2% 1.8% 2.4% RETURN ON AVERAGE TANGIBLE EQUITY * 2022 2023 2024 2025 YTD 2026 0.0% 5.0% 10.0% 15.0% 20.0% RETURN ON AVERAGE ASSETS 2022 2023 2024 2025 YTD 2026 0.0% 0.4% 0.8% 1.2% 1.6% RETURN ON AVERAGE EQUITY 2022 2023 2024 2025 YTD 2026 0.0% 2.5% 5.0% 7.5% 10.0% 12.5% Performance 13 1.56% 1.50% 11.80% 11.47% 9.29% 1.93% 1.77% 1.82% 17.15%17.02% (1)Peer median. Refer to appendix for peer group. Peer data from S&P Global Market Intelligence. (2)3Q26 peer data (*)Non-GAAP financial measure. Refer to appendix for reconciliation of non-GAAP financial measures 1.37% 9.86% 13.84% 2.12% 1.92% 10.32% 12.62% 14.05% Peer(1)(2) Peer(1)(2) Peer(1)(2) Peer(1)(2) 1.38% 1.48%
14 Balance Sheet Dollars in millions 3Q26 2Q26 Var $ 192 $ 218 $ (26) 984 1,013 (29) 8,054 8,058 (4) 8,064 8,086 (22) 215 275 (60) (150) (100) (50) 0 50 100 150 Cash & Int Bear Bal Securities Loans Total Deposits Borrowings 3Q26 vs 2Q26: 3Q26 vs 2Q26 DEPOSIT CHANGES DECREASES/INCREASES • Loans were relatively flat due to lower line utilization and originations • Deposits declined modestly primarily due to seasonality • DDA remains strong at 28% of total deposits
Loan Mix Our loan portfolio is well-diversified: Dollars in millions 15 Amount % of Total CRE $3,551 44% Consumer 2,514 31% C&I 1,539 19% Construction 450 6% Total $8,054 100% Restaurants 1%
Deposit Mix We have a strong, well-diversified deposit base of 130,000 households: Dollars in millions 16 Amount % of Total DDA $2,224 28% MM 2,186 27% CDs 2,009 25% Savings 874 10% Int Bear DDA 771 10% Total $8,064 100% Amount % of Total Consumer $5,605 69% Commercial 1,554 19% Business 848 11% Other 57 1% Brokered — —% Total $8,064 100% Business Business 1% Commercial 1% Other 1% Comm Business 2%
17 FUNDING SOURCES Funding Capacity • Strong liquidity position with well-diversified deposit base • Significant funding availability through FHLB and Federal Reserve • Insured and collateralized municipal deposits comprise 68% of total deposits • Funding availability meets liquidity needs in both normal and stressed environments Dollars in millions Capacity Used Available FHLB $2,120 $319 $1,801 Federal Reserve 2,184 — 2,184 Total Funding Sources $4,304 $319 $3,985 $3,985 $2,970 Available Funding Uninsured Deposits =134% INSURED/UNINSURED DEPOSITS
18 Asset Quality ACL Trend: Dollars in millions ASSET QUALITY TRENDS • ACL was stable at 1.16% compared to June 30, 2026 • Net loan charge-offs of $2.1 million, or 0.10% (annualized) of average loans • NPAs decreased $3.7 million to $36.5 million, or 0.45% of total loans plus OREO % o f A verage Lo ans Net Loan Charge-offs 3Q25 4Q25 1Q26 2Q26 3Q26 $0 $4 $8 $12 $16 $20 (0.20)% 0.00% 0.20% 0.40% 0.60% 0.80% 1.00% % o f G ro ss Lo ans Allowance for Credit Losses (ACL) 3Q25 4Q25 1Q26 2Q26 3Q26 $0 $20 $40 $60 $80 $100 $120 0.00% 0.25% 0.50% 0.75% 1.00% 1.25% 1.50% (1)QTD Annualized (1) % o f Po rtfo lio Lo ans and O R EO Nonperforming Assets 3Q25 4Q25 1Q26 2Q26 3Q26 $0 $20 $40 $60 $80 0.00% 0.25% 0.50% 0.75% 1.00%
19 (0.03)% (0.11)% (0.08)% (0.04)% 0.01% 2.05% 1.94% 1.86% 1.82% 1.83% Changes in Cost of Funds Cost of Funds 3Q25 4Q25 1Q26 2Q26 3Q26 Net Interest Income $89.2 $91.0 $88.4 $90.4 $93.1 3.93% 3.99% 3.92% 3.99% 4.06% 3.68% 3.72% 3.67% 3.83% 3.94% NII NIM (FTE)* Peer 3Q25 4Q25 1Q26 2Q26 3Q26 Total Cost of Funds • NIM (FTE)* expansion of 7 basis points to 4.06% • Stable funding costs supported NIM expansion • Average loan balances up $61.2 million and average total deposit balances up $56.1 million compared to June 30, 2026 Dollars in millions *Non-GAAP financial measure. Refer to appendix for reconciliation of non-GAAP financial measures
20 Noninterest Income Dollars in millions 3Q26 3Q26 vs 2Q26 3Q26 vs 3Q25 Gain on Sale of Securities $— ($0.2) $— Debit and Credit Card 4.8 0.1 — Service Charges 4.5 0.2 0.3 Investment Services and Trust 3.7 0.2 0.6 Other 1.7 (0.5) — Noninterest Income $14.7 ($0.2) $0.9 • Noninterest income consistent with 2Q26
21 3Q26 3Q26 vs 2Q26 3Q26 vs 3Q25 Salaries & Benefits $32.7 $— $0.5 Data Processing 5.1 (0.1) 0.1 Occupancy 4.0 (0.1) — FF&E 3.6 0.1 0.4 Other Taxes 2.2 0.4 0.1 Professional Services 1.4 0.1 0.2 Marketing 1.3 (0.6) 0.1 FDIC 1.1 — — Other 6.2 (0.9) (0.1) Noninterest Expense $57.6 ($1.1) $1.3 Noninterest Expense • Expenses were well-controlled driving a solid efficiency ratio* of 53.23% Dollars in millions *Non-GAAP financial measure. Refer to appendix for reconciliation of non-GAAP financial measures
22 Securities • Securities portfolio is 10% of total assets • 100% of securities portfolio is classified as available for sale • Average duration of 3.7 years • Net unrealized loss of $76.2 million related to securities portfolio SECURITIES MIX $984 Dollars in millions
Income Statement 3Q26 2025 2024 2023 2022 (Dollars in thousands, except per share data) YTD Net Interest Income $271,946 $350,096 $334,806 $349,410 $315,783 Noninterest Income 43,165 52,023 49,083 57,620 58,259 Total Revenue 315,111 402,119 383,889 407,030 374,042 Noninterest Expense 173,012 226,757 218,938 210,334 196,746 Provision for Credit Losses 3,850 7,422 133 17,892 8,366 Net Income Before Taxes 138,249 167,940 164,818 178,804 168,930 Taxes 27,931 33,710 33,553 34,023 33,410 Net Income $110,318 $134,230 $131,265 $144,781 $135,520 Diluted Earnings per Share $3.04 $3.49 $3.41 $3.74 $3.46 Financial Data 23
Financial Data 24 Balance Sheet 3Q26 2025 2024 2023 2022 (Dollars in thousands) Cash and Interest-bearing Deposits $192,223 $163,436 $244,820 $233,612 $210,009 Total Securities 984,444 987,659 987,591 970,391 1,002,778 Total Net Loans 7,961,341 7,979,789 7,641,464 7,545,528 7,082,645 Other Assets 751,483 740,096 784,097 801,995 815,135 Total Assets $9,889,491 $9,870,980 $9,657,972 $9,551,526 $9,110,567 Total Deposits $8,063,891 $7,958,831 $7,783,117 $7,521,769 $7,219,970 Total Borrowed Funds 215,274 265,293 250,314 503,635 439,194 Other Liabilities 202,992 182,979 244,247 242,677 266,744 Equity 1,407,334 1,463,877 1,380,294 1,283,445 1,184,659 Total Liabilities & Equity $9,889,491 $9,870,980 $9,657,972 $9,551,526 $9,110,567
Net Interest Margin 3Q26 2025 2024 2023 2022 YTD Securities - FTE(1) 3.90% 3.74% 3.05% 2.61% 2.25% Loans - FTE(1) 5.90% 6.02% 6.24% 6.04% 4.50% Total Interest-earning Assets - FTE(1) 5.65% 5.74% 5.87% 5.64% 4.06% Interest-bearing Deposits 2.45% 2.70% 2.92% 1.92% 0.40% Borrowings 4.63% 4.94% 5.41% 5.59% 3.01% Total Costing Liabilities 2.52% 2.79% 3.09% 2.34% 0.49% Net Interest Margin (FTE)(1) 3.99% 3.90% 3.82% 4.13% 3.76% Financial Data (1)Non-GAAP financial measure. Refer to appendix for reconciliation of non-GAAP financial measures 25
Financial Data 26 Loan Portfolio 3Q26 2025 2024 2023 2022 (Dollars in thousands) Commercial Real Estate $3,550,690 $3,626,784 $3,388,017 $3,357,603 $3,128,187 Commercial and Industrial 1,538,964 1,519,336 1,540,397 1,642,106 1,718,976 Commercial Construction 449,889 380,091 352,886 363,284 399,371 Total Commercial 5,539,543 5,526,211 5,281,300 5,362,993 5,246,534 Residential Mortgage 1,680,848 1,710,351 1,649,639 1,461,097 1,116,528 Home Equity 735,975 707,966 653,756 650,666 652,066 Installment and Other Consumer 77,148 91,280 104,757 114,897 124,896 Consumer Construction 20,505 36,149 53,506 63,688 43,945 Total Consumer 2,514,476 2,545,746 2,461,658 2,290,348 1,937,435 Total Portfolio Loans 8,054,019 8,071,957 7,742,958 7,653,341 7,183,969 Loans Held for Sale 574 1,010 — 153 16 Total Loans $8,054,593 $8,072,967 $7,742,958 $7,653,494 $7,183,985
Asset Quality 3Q26 2025 2024 2023 2022 (Dollars in thousands) Total Nonaccrual Loans $36,454 $55,558 $27,937 $22,946 $19,052 Nonaccrual Loans/Total Loans 0.45% 0.69% 0.36% 0.30% 0.27% Nonperforming Assets/Total Loans + OREO 0.45% 0.69% 0.36% 0.30% 0.31% Net Loan Charge-offs/Average Loans(1) 0.08% 0.18% 0.11% 0.18% 0.04% Allowance for Credit Losses/Total Portfolio Loans 1.16% 1.15% 1.31% 1.41% 1.41% Allowance for Credit Losses/Nonaccrual Loans 256% 168% 363% 471% 532% Financial Data 27(1)YTD Annualized
Capital 3Q26 2025 2024 2023 2022 Tier 1 Leverage 11.79% 12.18% 11.98% 11.21% 11.06% Common Equity Tier 1 – Risk-Based Capital 14.02% 14.32% 14.58% 13.37% 12.81% Tier 1 – Risk-Based Capital 14.32% 14.62% 14.90% 13.69% 13.21% Total – Risk-Based Capital 15.89% 16.19% 16.49% 15.27% 14.73% Tangible Common Equity/Tangible Assets(1) 10.85% 11.46% 10.82% 9.88% 9.24% Financial Data 28(1)Non-GAAP financial measure. Refer to appendix for reconciliation of non-GAAP financial measures
Appendix Peer Group 29 Company Ticker 1st Source Corporation SRCE Camden National Corp. CAC City Holding Company CHCO CNB Financial Corp. CCNE Community Bank System, Inc. CBU First Commonwealth Financial Corporation FCF First Financial Bancorp. FFBC First Merchants Corporation FRME German American Bancorp Inc. GABC Horizon Bancorp Inc. HBNC Lakeland Financial Corp. LKFN NBT Bancorp Inc. NBTB Northwest Bancshares, Inc. NWBI OceanFirst Financial Corp. OCFC Park National Corporation PRK Peoples Bancorp Inc. PEBO Stock Yards Bancorp Inc. SYBT Tompkins Financial Corporation TMP TowneBank TOWN Univest Financial Corp. UVSP
3Q26 (Dollars in thousands) Return on Average Tangible Shareholders' Equity (ROTE) (non-GAAP) Net income (annualized) $153,153 Plus: amortization of intangibles (annualized), net of tax 564 Net income before amortization of intangibles (annualized) $153,717 Average total shareholders' equity $1,412,809 Less: average goodwill and other intangible assets, net of deferred tax liability (374,848) Average tangible equity (non-GAAP) $1,037,961 Return on average tangible shareholders' equity (non-GAAP) 14.81 % Return on average tangible shareholders' equity is a common industry profitability metric used by management, as well as investors and analysts, to measure financial performance. Pre-provision Net Revenue (PPNR)/Average Assets (non-GAAP) Income before taxes $48,741 Plus: net (gain) loss on sale of securities and VISA Class B-2 exchange (109) Plus: Provision for credit losses 1,411 Total $50,043 Total (annualized) (non-GAAP) $198,540 Average assets $9,882,604 PPNR/Average Assets (non-GAAP) 2.01 % Pre-provision net revenue to average assets is income before taxes adjusted to exclude provision for credit losses, losses (gains) on sale of securities and gain on Visa exchange. We believe this to be a commonly used industry measurement to help management, as well as investors and analysts, evaluate our ability to fund credit losses or build capital. Appendix Definitions of GAAP to Non-GAAP Financial Measures 30
3Q26 2Q26 1Q26 4Q25 3Q25 (Dollars in thousands) Tangible Common Equity (TCE)/Tangible Assets (non-GAAP) Total shareholders' equity $1,407,334 $1,403,815 $1,430,681 $1,463,877 $1,475,466 Less: goodwill and other intangible assets, net of deferred tax liability (374,773) (374,915) (375,059) (375,202) (375,359) Tangible common equity (non-GAAP) $1,032,561 $1,028,900 $1,055,622 $1,088,675 $1,100,107 Total assets $9,889,491 $9,944,013 $9,944,003 $9,870,980 $9,817,483 Less: goodwill and other intangible assets, net of deferred tax liability (374,773) (374,915) (375,059) (375,202) (375,359) Tangible assets (non-GAAP) $9,514,718 $9,569,098 $9,568,944 $9,495,778 $9,442,124 Tangible common equity to tangible assets (non-GAAP) 10.85 % 10.75 % 11.03 % 11.46 % 11.65 % Tangible common equity to tangible assets is a commonly used industry measurement to evaluate capital adequacy. Efficiency Ratio (FTE) (non-GAAP) Noninterest expense $57,641 $58,664 $56,707 $57,176 $56,376 Net interest income $93,130 $90,380 $88,436 $90,960 $89,241 Plus: taxable equivalent adjustment 593 584 590 605 602 Net interest income (FTE) (non-GAAP) 93,723 90,964 89,026 91,565 89,843 Noninterest income 14,663 14,860 13,642 14,331 13,763 Plus: net (gain) loss on sale of securities and VISA Class B-2 exchange (109) (169) — — — Net interest income (FTE) (non-GAAP) plus noninterest income $108,277 $105,655 $102,668 $105,896 $103,606 Efficiency ratio (FTE) (non-GAAP) 53.23 % 55.52 % 55.23 % 53.99 % 54.41 % The efficiency ratio is noninterest expense divided by noninterest income plus net interest income, on an FTE basis (non-GAAP), adjusted to exclude losses (gains) on sale of securities and gain on Visa exchange. We believe the FTE basis ensures comparability of net interest income arising from both taxable and tax-exempt sources and is consistent with industry practice. Net Interest Margin (NIM) (FTE) (non-GAAP) Interest income and dividend income $131,752 $128,059 $126,333 $131,113 $131,623 Less: interest expense (38,622) (37,679) (37,897) (40,153) (42,382) Net interest income 93,130 90,380 88,436 90,960 89,241 Plus: taxable equivalent adjustment 593 584 590 605 602 Net interest income (FTE) (non-GAAP) $93,723 $90,964 $89,026 $91,565 $89,843 Net interest income (FTE) (annualized) $371,836 $364,856 $361,050 $363,274 $356,442 Average interest-earning assets $9,186,448 $9,145,877 $9,172,481 $9,115,453 $9,100,239 Net interest margin (FTE) (non-GAAP) 4.06 % 3.99 % 3.92 % 3.99 % 3.93 % The interest income on interest-earning assets, net interest income and net interest margin are presented on an FTE basis (non-GAAP). The FTE basis (non-GAAP) adjusts for the tax benefit of income on certain tax-exempt loans and securities and the dividend-received deduction for equity securities using the federal statutory tax rate of 21 percent for each period. We believe this to be a commonly used industry measurement of net interest income that provides a relevant comparison between taxable and non-taxable sources of interest income. Appendix Definitions of GAAP to Non-GAAP Financial Measures 31
3Q26 2025 2024 2023 2022 (Dollars in thousands) YTD Return on Average Tangible Shareholders' Equity (ROTE) (non-GAAP) Net income (annualized) $147,495 $134,230 $131,265 $144,781 $135,520 Plus: amortization of intangibles (annualized), net of tax 574 674 904 1,042 1,199 Net income before amortization of intangibles (annualized) $148,069 $134,904 $132,169 $145,823 $136,719 Average total shareholders' equity $1,428,629 $1,444,322 $1,330,870 $1,227,332 $1,181,788 Less: average goodwill and other intangible assets, net of deferred tax liability (374,991) (375,508) (376,181) (377,157) (378,303) Average tangible equity (non-GAAP) $1,053,638 $1,068,814 $954,689 $850,175 $803,485 Return on average tangible shareholders’ equity (non-GAAP) 14.05 % 12.62 % 13.84 % 17.15 % 17.02 % Return on average tangible shareholders' equity is a common industry profitability metric used by management, as well as investors and analysts, to measure financial performance. Net Interest Margin (NIM) (FTE) (non-GAAP) Interest income and dividend income $386,144 $516,490 $515,872 $477,901 $340,751 Less: interest expense (114,198) (166,394) (181,066) (128,491) (24,968) Net interest income per consolidated statements of net income 271,946 350,096 334,806 349,410 315,783 Plus: taxable equivalent adjustment 1,767 2,415 2,706 2,550 2,052 Net interest income (FTE) (non-GAAP) $273,713 $352,511 $337,512 $351,960 $317,835 Net interest income (FTE) (annualized) $365,953 $352,511 $337,512 $351,960 $317,835 Average interest-earning assets $9,168,319 $9,032,576 $8,835,468 $8,519,775 $8,445,958 Net Interest Margin 3.96 % 3.87 % 3.79 % 4.10 % 3.74 % Adjustment to FTE basis 0.03 % 0.03 % 0.03 % 0.03 % 0.02 % Net Interest Margin (FTE) (non-GAAP) 3.99 % 3.90 % 3.82 % 4.13 % 3.76 % The interest income on interest-earning assets, net interest income and net interest margin are presented on an FTE basis (non-GAAP). The FTE basis (non-GAAP) adjusts for the tax benefit of income on certain tax-exempt loans and securities and the dividend-received deduction for equity securities using the federal statutory tax rate of 21 percent for each period. We believe this to be a commonly used industry measurement of net interest income that provides a relevant comparison between taxable and non-taxable sources of interest income. Appendix Definitions of GAAP to Non-GAAP Financial Measures 32
3Q26 2025 2024 2023 2022 (Dollars in thousands) YTD PPNR/Average Assets (non-GAAP) Income before taxes $138,249 $167,940 $164,818 $178,804 $168,930 Plus: net (gain) loss on sale of securities and VISA Class B-2 exchange (278) 2,295 4,446 — (198) Plus: provision for credit losses 3,850 7,422 133 17,892 8,366 Total adjusted income before taxes (non-GAAP) $141,821 $177,657 $169,397 $196,696 $177,098 Total adjusted income before taxes (annualized) (non-GAAP) $189,614 $177,657 $169,397 $196,696 $177,098 Average assets $9,862,737 $9,740,537 $9,572,834 $9,276,256 $9,167,038 PPNR/Average Assets (non-GAAP) 1.92 % 1.82 % 1.77 % 2.12 % 1.93 % Pre-provision net revenue to average assets is income before taxes adjusted to exclude provision for credit losses, losses (gains) on sale of securities and gain on Visa exchange. We believe this to be a commonly used industry measurement to help management, as well as investors and analysts, evaluate our ability to fund credit losses or build capital. Tangible Common Equity (TCE)/Tangible Assets (non-GAAP) Total shareholders' equity $1,407,334 $1,463,877 $1,380,294 $1,283,445 $1,184,659 Less: goodwill and other intangible assets, net of deferred tax liability (374,773) (375,202) (375,837) (376,631) (377,673) Tangible common equity (non-GAAP) $1,032,561 $1,088,675 $1,004,457 $906,814 $806,986 Total assets $9,889,491 $9,870,980 $9,657,972 $9,551,526 $9,110,567 Less: goodwill and other intangible assets, net of deferred tax liability (374,773) (375,202) (375,837) (376,631) (377,673) Tangible assets (non-GAAP) $9,514,718 $9,495,778 $9,282,135 $9,174,895 $8,732,894 Tangible common equity to tangible assets (non-GAAP) 10.85 % 11.46 % 10.82 % 9.88 % 9.24 % Tangible common equity to tangible assets is a commonly used industry measurement to evaluate capital adequacy. Appendix Definitions of GAAP to Non-GAAP Financial Measures 33
3Q26 2025 2024 2023 2022 (Dollars in thousands) YTD Interest and Dividend Income Interest-bearing deposits with banks $3,662 $5,311 $8,855 $7,344 $2,952 Securities 29,223 37,358 29,665 25,207 22,449 Loans 352,480 472,673 476,083 442,675 314,774 Other earning assets 779 1,148 1,269 2,675 576 Total Interest and Dividend Income $386,144 $516,490 $515,872 $477,901 $340,751 NIM - Securities (FTE) (non-GAAP) Interest income $29,223 $37,358 $29,665 $25,207 $22,449 Plus: taxable equivalent adjustment 39 79 195 238 431 Interest income (FTE) (non-GAAP) $29,262 $37,437 $29,860 $25,445 $22,880 Interest income (FTE) (annualized) $39,123 $37,437 $29,860 $25,445 $22,880 Average interest-earning assets $1,001,266 $999,735 $977,896 $976,095 $1,017,471 Net Interest Margin 3.89 % 3.74 % 3.03 % 2.58 % 2.21 % Adjustment to FTE basis 0.01 % — % 0.02 % 0.03 % 0.04 % Net Interest Margin (FTE) (non-GAAP) 3.90 % 3.74 % 3.05 % 2.61 % 2.25 % NIM - Loans (FTE) (non-GAAP) Interest income $352,480 $472,673 $476,083 $442,675 $314,774 Plus: taxable equivalent adjustment 1,728 2,336 2,511 2,312 1,621 Interest income (FTE) (non-GAAP) $354,208 $475,009 $478,594 $444,987 $316,395 Interest income (FTE) (annualized) $473,575 $475,009 $478,594 $444,987 $316,395 Average interest-earning assets $8,021,785 $7,894,845 $7,673,691 $7,363,738 $7,037,471 Net Interest Margin 5.87 % 5.99 % 6.20 % 6.01 % 4.47 % Adjustment to FTE basis 0.03 % 0.03 % 0.04 % 0.03 % 0.03 % Net Interest Margin (FTE) (non-GAAP) 5.90 % 6.02 % 6.24 % 6.04 % 4.50 % NIM - Total Interest-earning Assets (FTE) (non-GAAP) Average interest-earning assets $9,168,319 $9,032,576 $8,835,468 $8,519,775 $8,445,958 Net Interest Margin 5.63 % 5.72 % 5.84 % 5.61 % 4.03 % Adjustment to FTE basis 0.02 % 0.02 % 0.03 % 0.03 % 0.03 % Net Interest Margin (FTE) (non-GAAP) 5.65 % 5.74 % 5.87 % 5.64 % 4.06 % The FTE basis (non-GAAP) adjusts for the tax benefit of income on certain tax-exempt loans and securities using the federal statutory rate of 21 percent for each period. We believe this to be a common industry measurement of net interest income that provides a relevant comparison between taxable and non-taxable sources of interest income. Appendix Definitions of GAAP to Non-GAAP Financial Measures 34
Christopher J. McComish Chief Executive Officer Mark Kochvar Chief Financial Officer Third Quarter 2026