STOCKHOLDERS' EQUITY (Tables)

12 Months Ended

Dec. 31, 2025

Schedule of Common Stock Outstanding Roll Forward

A roll forward of common stock activity is presented in the following table:

Number of Shares of Common Stock


	December 31, 2025		December 31, 2024
	Common Stock Outstanding		Common Stock Outstanding
	Class A	Class B	Class A	Class B





Common stock - beginning of period	12,712,436	1,005,185	13,514,933	1,005,185
Shares purchased under authorized repurchase plan	(1,578,462)	—	(814,641)	—
Restricted stock units vested, net of shares held to cover taxes	—	—	12,144	—
Common stock - end of period	11,133,974	1,005,185	12,712,436	1,005,185

Schedule of Preferred Stock and Depositary Shares

As of December 31, 2025, the Parent Company had Series A, Series B, Series C, and Series D non-cumulative perpetual preferred stock (together, “BancShares Preferred Stock”) as summarized in the following table:

Preferred Stock


dollars in millions, except per share, depositary share, and per depositary share data
Preferred Stock	Issuance Date	Earliest Redemption Date	Book Value (1)		Par Value Per Share		Shares Authorized, Issued and Outstanding	Aggregate Liquidation Preference		Liquidation Preference Per Share		Depositary Shares (Fractional Interest) (2)	Liquidation Preference Per Depositary Share		Dividend
Series A	March 12, 2020	March 15, 2025	$	340	$	0.01	345,000	$	345	$	1,000	13,800,000 (1/40th)	$	25	5.375	%
Series B (3)	January 3, 2022	January 4, 2027	334		0.01		325,000	325		1,000		n/a	n/a		SOFR + 3.972%
Series C	January 3, 2022	January 4, 2027	207		0.01		8,000,000	200		25		n/a	n/a		5.625	%
Series D (4)	November 18, 2025	December 15, 2030	494		0.01		5,000	500		100,000		500,000 (1/100th)	1,000		7.000	%
Total			$	1,375			8,675,000	$	1,370

(1) The book value is net of direct issuance costs and premiums or discounts.

(2) Each depositary share represents a fractional ownership interest in a share of non-cumulative perpetual preferred stock.

(3) Upon conversion to SOFR in 2023, BancShares began paying a credit spread adjustment in addition to the stated dividend.

(4) The dividend rate is 7.000% per annum from the original issuance date to, but excluding, the first reset date of December 15, 2030. Thereafter, the dividend rate resets to the five-year treasury rate plus 3.301% on the fifth anniversary of the preceding reset date.