EX-99.1 2 exhibit991-earningspressre.htm EX-99.1
FirstSun Capital Bancorp Reports First Quarter 2026 Results
First Quarter 2026 Highlights:
•Net interest margin of 4.25%
•Loan growth of 16.2%, annualized
•24.7% noninterest income to total revenue 1
•Net income of $21.6 million, $0.76 per diluted share (adjusted, $23.7 million, $0.84 per diluted share, see “Non-GAAP Financial Measures and Reconciliations” below)
•Return on average total assets of 1.04% (adjusted, 1.14%, see “Non-GAAP Financial Measures and Reconciliations” below)
•Return on average stockholders’ equity of 7.47% (adjusted, 8.20%, see “Non-GAAP Financial Measures and Reconciliations” below)
Denver, Colorado – April 27, 2026 – FirstSun Capital Bancorp (“FirstSun”) (NASDAQ: FSUN) reported net income of $21.6 million for the first quarter of 2026 compared to net income of $23.6 million for the first quarter of 2025. Earnings per diluted share were $0.76 for the first quarter of 2026 compared to $0.83 for the first quarter of 2025. Adjusted net income, a non-GAAP financial measure, was $23.7 million or $0.84 per diluted share for the first quarter of 2026.
On April 1, 2026, we completed our merger with First Foundation Inc. (“First Foundation”). During the first quarter of 2026, we incurred $2.7 million in merger related expenses. Because the merger closed after quarter-end, First Foundation’s historical consolidated financial results are not included in our results for the quarter ended March 31, 2026.
Neal Arnold, FirstSun’s Chief Executive Officer and President, commented, “First quarter results reflect the continued strength of our core franchise, highlighted by robust loan growth of 16.2% annualized, a consistently strong net interest margin of 4.25%, and a balanced revenue profile with noninterest income representing 24.7% of total revenue. While we saw higher credit costs this quarter, we believe our relationship focused and well diversified business model and our presence across some of the most dynamic markets in the country position us for continued success.
“Additionally, we are pleased to welcome the customers and team members from First Foundation and are encouraged by the momentum observed during the initial stages of integration following closing. Our teams are focused on execution, and we are progressing in line with our expectations on our merger-related balance sheet repositioning while also beginning to realize identified operating synergies. As we move forward, we are confident in our ability to deliver enhanced value-added solutions to our customers across our expanded footprint while driving sustainable long-term value for our stockholders.”
First Quarter 2026 Results
Net income totaled $21.6 million, or $0.76 per diluted share, for the first quarter of 2026, compared to $24.8 million, or $0.88 per diluted share, for the prior quarter. Adjusted net income, a non-GAAP financial measure, totaled $23.7 million, or $0.84 per diluted share, for the first quarter of 2026, compared to $26.9 million, or $0.95 per diluted share, for the prior quarter.
Return on average total assets was 1.04% for the first quarter of 2026, compared to 1.17% for the prior quarter, and return on average stockholders’ equity was 7.47% for the first quarter of 2026, compared to 8.58% for the prior quarter. Adjusted return on average total assets and adjusted return on average stockholders’ equity, each a non-GAAP financial measure, were 1.14% and 8.20% respectively for the first quarter of 2026 compared to 1.27% and 9.31% respectively for the prior quarter.
1 Total revenue is net interest income plus noninterest income.

Net Interest Income and Net Interest Margin
Net interest income totaled $82.8 million for the first quarter of 2026, a decrease of $0.7 million compared to the prior quarter. Our net interest margin increased 7 basis points to 4.25% compared to the prior quarter.
Average loans, including loans held-for-sale, increased by $32.1 million in the first quarter of 2026, compared to the prior quarter. Loan yield decreased by one basis point to 6.36% in the first quarter of 2026, compared to the prior quarter, primarily due to the declining interest rate environment and its impact on variable rate loans in the loan portfolio. Average interest-bearing cash and other assets decreased by $40.3 million in the first quarter of 2026, compared to the prior quarter. Interest-bearing cash and other assets yield decreased by 32 basis points to 3.36% in the first quarter of 2026, compared to the prior quarter, primarily due to the declining interest rate environment.
Average interest-bearing deposits increased $28.8 million in the first quarter of 2026, compared to the prior quarter. Total cost of interest-bearing deposits decreased by 14 basis points to 2.46% in the first quarter of 2026, compared to the prior quarter, primarily due to rate decreases for certificates of deposit and money market deposits amidst the declining interest rate environment and a decrease in certificates of deposit balances.
Asset Quality and Provision for Credit Losses
The provision for credit losses increased $2.1 million to $8.3 million for the first quarter of 2026, compared to the prior quarter, primarily due to net portfolio downgrades and impacts from growth in loan portfolio balances.
Net charge-offs for the first quarter of 2026 were $10.6 million resulting in an annualized ratio of net charge-offs to average loans of 0.63%, compared to net charge-offs of $5.0 million, or an annualized ratio of net charge-offs to average loans of 0.30% for the prior quarter. The increase in net charge-offs for the first quarter of 2026 was primarily due to write-downs related to two specific customer relationships in our C&I loan portfolio.
The allowance for credit losses as a percentage of loans outstanding was 1.20% at March 31, 2026, a decrease of seven basis points from the prior quarter. The ratio of nonperforming assets to total assets was 0.82% at March 31, 2026, compared to 0.85% at December 31, 2025.
Noninterest Income
Noninterest income totaled $27.2 million for the first quarter of 2026, an increase of $0.4 million from the prior quarter. Income from mortgage banking services increased $2.2 million for the first quarter of 2026, from the prior quarter, primarily due to an increase in net gain on sales and fair value driven by an 11.4% increase in total originations. Other noninterest income decreased $1.8 million for the first quarter of 2026, from the prior quarter, primarily due to a decrease in loan syndication fees and swap fee income, and a decrease in the fair value of investments related to our deferred compensation plan.
Noninterest income as a percentage of total revenue 2 was 24.7% for the first quarter of 2026, an increase of 0.4% from the prior quarter.
Noninterest Expense
Noninterest expense totaled $75.3 million for the first quarter of 2026, an increase of $3.3 million from the prior quarter. Salary and employee benefits increased $3.8 million in the first quarter of 2026 from the prior quarter, primarily due to the seasonal increase in payroll taxes and retirement account contributions, and an increase in medical insurance costs. Other noninterest expenses decreased $1.3 million in the first quarter of 2026 from the prior quarter, primarily due to the acceleration of remaining deferred expenses related to the $40.0 million subordinated notes redemption and maintenance expenses related to OREO properties, both incurred in the fourth quarter of 2025. Merger related expenses increased $0.5 million in the first quarter of 2026 from the prior quarter.
2 Total revenue is net interest income plus noninterest income.
2

The efficiency ratio for the first quarter of 2026 was 68.52% compared to 65.37% for the prior quarter. The adjusted efficiency ratio, a non-GAAP financial measure, for the first quarter of 2026 was 66.08% compared to 63.36% for the prior quarter.
Tax Rate
The effective tax rate was 18.1% for the first quarter of 2026, compared to 22.4% for the prior quarter.
Loans
Loans were $6.9 billion at March 31, 2026, compared to $6.7 billion at December 31, 2025, an increase of $266.8 million, or 16.2% on an annualized basis.
Deposits
Deposits were $7.1 billion at March 31, 2026 and December 31, 2025, a decrease of $19.8 million in the first quarter of 2026, or 1.1% on an annualized basis, primarily due to decreases of $79.9 million in certificates of deposit, which includes a decrease in brokered deposit balances of $58.6 million, and a $51.5 million decrease in noninterest-bearing deposit accounts, partially offset by an increase of $86.1 million in demand and NOW accounts. Average deposits were $7.0 billion for the first quarter of 2026 and $7.1 billion for the prior quarter, decreasing $45.8 million or 2.6% on an annualized basis.
Noninterest-bearing deposit accounts represented 22.6% of total deposits at March 31, 2026 and the loan to deposit ratio was 97.9% at March 31, 2026.
The ratio of total uninsured deposits to total deposits was estimated to be 35.4% at March 31, 2026. The ratio of total uninsured and uncollateralized deposits to total deposits was estimated to be 28.6% at March 31, 2026.3
Capital
Capital ratios remain strong and above “well-capitalized” thresholds. As of March 31, 2026, our common equity tier 1 risk-based capital ratio was 13.77%, total risk-based capital ratio was 15.29% and tier 1 leverage ratio was 13.06%. Book value per share was $42.08 at March 31, 2026, an increase of $0.72 from December 31, 2025. Tangible book value per share, a non-GAAP financial measure, was $38.57 at March 31, 2026, an increase of $0.74 from December 31, 2025.
3 Uninsured deposits and uninsured and uncollateralized deposits are reported for our wholly-owned subsidiary Sunflower Bank, N.A.
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Non-GAAP Financial Measures
This press release (including the tables beginning on page 15) contains financial measures determined by methods other than in accordance with accounting principles generally accepted in the United States (“GAAP”). Our management uses these non-GAAP financial measures in their analysis of our performance and the efficiency of our operations. Management believes these non-GAAP measures provide a greater understanding of ongoing operations, enhance comparability of results with prior periods and demonstrate the effects of significant items in the current period. We believe a meaningful analysis of our financial performance requires an understanding of the factors underlying that performance. Our management believes investors may find these non-GAAP financial measures useful. These non-GAAP financial measures, however, should not be viewed as a substitute for financial measures determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other companies. Below is a listing of the non-GAAP measures used in this press release:
•Tangible stockholders’ equity to tangible assets;
•Tangible stockholders’ equity to tangible assets, reflecting net unrealized losses on HTM securities, net of tax;
•Tangible book value per share;
•Adjusted net income;
•Adjusted diluted earnings per share;
•Adjusted return on average total assets;
•Adjusted return on average stockholders’ equity;
•Return on average tangible stockholders’ equity;
•Adjusted return on average tangible stockholders’ equity;
•Adjusted total noninterest expense;
•Adjusted efficiency ratio; and
•Fully tax equivalent (“FTE”) net interest income and net interest margin.
The tables beginning on page 15 provide a reconciliation of each non-GAAP financial measure contained in this press release to the most comparable GAAP equivalent.
About FirstSun
FirstSun Capital Bancorp (“FirstSun”) (NASDAQ: FSUN), headquartered in Denver, Colorado, is the financial holding company for wholly owned subsidiaries including Sunflower Bank, N.A. and First Foundation Advisors. FirstSun completed its merger with First Foundation Inc. on April 1, 2026. Through its subsidiaries and affiliated entities, FirstSun provides a full range of relationship-focused services to meet personal, business, and wealth management financial objectives, with depository branches in ten states and mortgage capabilities in 44 states. FirstSun had total consolidated assets of $8.6 billion as of March 31, 2026.
To learn more visit ir.firstsuncb.com or SunflowerBank.com.
Investor Earnings Conference Call
FirstSun will host a conference call on Tuesday, April 28, 2026 at 11:00 a.m. (ET) to discuss its first quarter 2026 financial results.
Participants may join by phone by dialing (833) 461-5787 for toll-free within the US and (585) 542-9983 for all other locations. The conference Access Code is 815574070. The numbers for international participants are available here: https://help.events.q4inc.com/eahc/international-dial-in-numbers.
An audio replay of the live call, and the accompanying presentation slides, will be available following the live event on the “Events & Presentations page” of FirstSun’s website at https://ir.firstsuncb.com/overview/default.aspx.
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Deposits Classification
Previously, deposit amounts related to certain NOW accounts with limited monthly transaction activity were able to be reclassified to money market accounts to reduce reserve requirements at the Federal Reserve. As there is no longer any impact to reserve requirements across different deposit products, we have discontinued this product reclassification practice and have revised the presentation of those deposits to conform to the current presentation for periods prior to March 31, 2026.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are forward-looking statements. Examples of forward-looking statements include, but are not limited to, statements regarding our recently completed merger with First Foundation, including expectations with regard to the benefits of the merger, progress on the execution of our merger-related balance sheet repositioning and our ability to drive sustainable long-term value for our stockholders. These statements reflect management’s current expectations and are not guarantees of future performance. Words such as “focus,” “confident,” “may,” “will,” “believe,” “anticipate,” “expect,” “intend,” “opportunity,” “continue,” “should,” “could,” “progress” and variations of such words and similar expressions are intended to identify such forward-looking statements. Forward-looking statements are subject to risks, uncertainties and assumptions that are difficult to predict with regard to timing, extent, likelihood and degree of occurrence, which could cause actual results to differ materially from anticipated results. Such risks, uncertainties and assumptions, include, among others, the following: changes in interest rates and their related impact on macroeconomic conditions, customer behavior, our funding costs and our loan and securities portfolios; the quality or composition of our loan or investment portfolios and changes therein; failure to maintain our mortgage production flow to secondary markets; the sufficiency of liquidity and changes in our capital position; the inability of our infrastructure initiatives to reduce expenses; increased deposit volatility; potential regulatory developments; U.S. and global trade policies and tensions, including change in, or the imposition of, tariffs and/or trade barriers and the economic impacts, volatility and uncertainty resulting therefrom; ongoing geopolitical conflicts, including hostilities involving Iran and the Middle East, which may contribute to volatility in energy prices, inflation, financial markets, cybersecurity threats, and broader macroeconomic conditions, any of which could adversely affect our borrowers, deposit base, liquidity, capital and results of operation; the possibility that the anticipated benefits of the First Foundation merger, including anticipated cost savings and strategic gains, are not realized when expected or at all; the integration of the businesses and operations of FirstSun and First Foundation may take longer than anticipated or be more costly than anticipated or have unanticipated adverse results relating to the combined company’s business; the execution of the planned balance sheet repositioning related to the First Foundation merger may be more difficult, costly or time consuming than expected and we may fail to realize the anticipated benefits; the diversion of management’s attention from ongoing business operations and opportunities due to the First Foundation merger; other factors, many of which are beyond our control.
We caution readers that the foregoing list of factors is not exclusive, is not necessarily in order of importance and readers should not place undue reliance on any forward-looking statements. Additional information concerning additional factors that could materially affect the forward-looking statements in this press release can be found in the cautionary language included under the headings “Cautionary Note Regarding Forward-Looking Statements” and “Risk Factors” in FirstSun’s Annual Report on Form 10-K for the year ended December 31, 2025 and other documents subsequently filed by FirstSun with the SEC. Further, any forward-looking statement speaks only as of the date on which it is made and we do not intend to and disclaim any obligation to update or revise any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events, except as required by law.
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Summary Data:

| As of and for the three months ended |  |
($ in thousands, except per share amounts) | March 31, 2026 |  | December 31, 2025 |  | September 30, 2025 |  | June 30, 2025 |  | March 31, 2025 |  |  |  |
Net interest income | $ | 82,779 |  |  | $ | 83,461 |  |  | $ | 80,953 |  |  | $ | 78,499 |  |  | $ | 74,478 |  |  |  |  |
Provision for credit losses | 8,250 |  |  | 6,200 |  |  | 10,100 |  |  | 4,500 |  |  | 3,800 |  |  |  |  |
Noninterest income | 27,175 |  |  | 26,744 |  |  | 26,333 |  |  | 27,073 |  |  | 21,729 |  |  |  |  |
Noninterest expense | 75,341 |  |  | 72,041 |  |  | 68,901 |  |  | 68,110 |  |  | 62,722 |  |  |  |  |
Income before income taxes | 26,363 |  |  | 31,964 |  |  | 28,285 |  |  | 32,962 |  |  | 29,685 |  |  |  |  |
Provision for income taxes | 4,780 |  |  | 7,157 |  |  | 5,111 |  |  | 6,576 |  |  | 6,116 |  |  |  |  |
Net income | 21,583 |  |  | 24,807 |  |  | 23,174 |  |  | 26,386 |  |  | 23,569 |  |  |  |  |
Adjusted net income 1 | 23,673 |  |  | 26,923 |  |  | 23,412 |  |  | 26,601 |  |  | 23,569 |  |  |  |  |
Weighted average common shares outstanding, basic | 27,851,041 |  |  | 27,839,044 |  |  | 27,801,255 |  |  | 27,783,710 |  |  | 27,721,760 |  |  |  |  |
Weighted average common shares outstanding, diluted | 28,316,608 |  |  | 28,262,530 |  |  | 28,291,778 |  |  | 28,232,319 |  |  | 28,293,912 |  |  |  |  |
Diluted earnings per share | $ | 0.76 |  |  | $ | 0.88 |  |  | $ | 0.82 |  |  | $ | 0.93 |  |  | $ | 0.83 |  |  |  |  |
Adjusted diluted earnings per share 1 | 0.84 |  |  | 0.95 |  |  | 0.83 |  |  | 0.94 |  |  | 0.83 |  |  |  |  |
Return on average total assets | 1.04 | % |  | 1.17 | % |  | 1.09 | % |  | 1.28 | % |  | 1.20 | % |  |  |  |
Adjusted return on average total assets 1 | 1.14 | % |  | 1.27 | % |  | 1.10 | % |  | 1.29 | % |  | 1.20 | % |  |  |  |
Return on average stockholders' equity | 7.47 | % |  | 8.58 | % |  | 8.22 | % |  | 9.74 | % |  | 9.03 | % |  |  |  |
Adjusted return on average stockholders' equity 1 | 8.20 | % |  | 9.31 | % |  | 8.31 | % |  | 9.82 | % |  | 9.03 | % |  |  |  |
Return on average tangible stockholders' equity 1 | 8.31 | % |  | 9.58 | % |  | 9.20 | % |  | 10.91 | % |  | 10.18 | % |  |  |  |
Adjusted return on average tangible stockholders' equity 1 | 9.10 | % |  | 10.38 | % |  | 9.30 | % |  | 11.00 | % |  | 10.18 | % |  |  |  |
Net interest margin | 4.25 | % |  | 4.18 | % |  | 4.07 | % |  | 4.07 | % |  | 4.07 | % |  |  |  |
Net interest margin (FTE basis)1 | 4.31 | % |  | 4.23 | % |  | 4.12 | % |  | 4.13 | % |  | 4.13 | % |  |  |  |
Efficiency ratio | 68.52 | % |  | 65.37 | % |  | 64.22 | % |  | 64.52 | % |  | 65.19 | % |  |  |  |
Adjusted efficiency ratio 1 | 66.08 | % |  | 63.36 | % |  | 64.00 | % |  | 64.25 | % |  | 65.19 | % |  |  |  |
Noninterest income to total revenue 2 | 24.7 | % |  | 24.3 | % |  | 24.5 | % |  | 25.6 | % |  | 22.6 | % |  |  |  |
Total assets | $ | 8,565,123 |  |  | $ | 8,485,162 |  |  | $ | 8,495,437 |  |  | $ | 8,435,861 |  |  | $ | 8,216,458 |  |  |  |  |
Loans held-for-sale | 144,407 |  |  | 100,539 |  |  | 85,250 |  |  | 90,781 |  |  | 65,603 |  |  |  |  |
Loans held-for-investment | 6,939,972 |  |  | 6,673,180 |  |  | 6,681,629 |  |  | 6,507,066 |  |  | 6,484,008 |  |  |  |  |
Total deposits | 7,087,513 |  |  | 7,107,356 |  |  | 7,105,415 |  |  | 7,100,164 |  |  | 6,874,239 |  |  |  |  |
Total stockholders' equity | 1,175,507 |  |  | 1,153,356 |  |  | 1,127,513 |  |  | 1,095,402 |  |  | 1,068,295 |  |  |  |  |
Loan to deposit ratio | 97.9 | % |  | 93.9 | % |  | 94.0 | % |  | 91.6 | % |  | 94.3 | % |  |  |  |
Period end common shares outstanding | 27,935,888 |  |  | 27,887,337 |  |  | 27,854,764 |  |  | 27,834,525 |  |  | 27,753,918 |  |  |  |  |
Book value per share | $ | 42.08 |  |  | $ | 41.36 |  |  | $ | 40.48 |  |  | $ | 39.35 |  |  | $ | 38.49 |  |  |  |  |
Tangible book value per share 1 | 38.57 |  |  | 37.83 |  |  | 36.92 |  |  | 35.77 |  |  | 34.88 |  |  |  |  |
1 Represents a non-GAAP financial measure. See the tables beginning on page 15 for a reconciliation of each non-GAAP measure to the most comparable GAAP equivalent.
2 Total revenue is net interest income plus noninterest income.

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Condensed Consolidated Statements of Income (Unaudited):

| For the three months ended |  |
($ in thousands, except per share amounts) | March 31, 2026 |  |  |  |  |  |  |  | March 31, 2025 |  |  |  |
Total interest income | $ | 116,126 |  |  |  |  |  |  |  |  | $ | 110,447 |  |  |  |  |
Total interest expense | 33,347 |  |  |  |  |  |  |  |  | 35,969 |  |  |  |  |
Net interest income | 82,779 |  |  |  |  |  |  |  |  | 74,478 |  |  |  |  |
Provision for credit losses | 8,250 |  |  |  |  |  |  |  |  | 3,800 |  |  |  |  |
Net interest income after credit loss expense | 74,529 |  |  |  |  |  |  |  |  | 70,678 |  |  |  |  |
Noninterest income: |  |  |  |  |  |  |  |  |  |  |  |  |
Service charges on deposit accounts | 2,096 |  |  |  |  |  |  |  |  | 2,027 |  |  |  |  |
Treasury management service fees | 4,613 |  |  |  |  |  |  |  |  | 4,194 |  |  |  |  |
Credit and debit card fees | 2,713 |  |  |  |  |  |  |  |  | 2,586 |  |  |  |  |
Trust and investment advisory fees | 1,489 |  |  |  |  |  |  |  |  | 1,421 |  |  |  |  |
Income from mortgage banking services, net | 14,315 |  |  |  |  |  |  |  |  | 9,055 |  |  |  |  |
Other noninterest income | 1,949 |  |  |  |  |  |  |  |  | 2,446 |  |  |  |  |
Total noninterest income | 27,175 |  |  |  |  |  |  |  |  | 21,729 |  |  |  |  |
Noninterest expense: |  |  |  |  |  |  |  |  |  |  |  |  |
Salary and employee benefits | 47,356 |  |  |  |  |  |  |  |  | 39,561 |  |  |  |  |
Occupancy, equipment and software | 10,006 |  |  |  |  |  |  |  |  | 9,536 |  |  |  |  |
Amortization and impairment of intangible assets | 507 |  |  |  |  |  |  |  |  | 628 |  |  |  |  |
Merger related expenses | 2,681 |  |  |  |  |  |  |  |  | — |  |  |  |  |
Other noninterest expenses | 14,791 |  |  |  |  |  |  |  |  | 12,997 |  |  |  |  |
Total noninterest expense | 75,341 |  |  |  |  |  |  |  |  | 62,722 |  |  |  |  |
Income before income taxes | 26,363 |  |  |  |  |  |  |  |  | 29,685 |  |  |  |  |
Provision for income taxes | 4,780 |  |  |  |  |  |  |  |  | 6,116 |  |  |  |  |
Net income | $ | 21,583 |  |  |  |  |  |  |  |  | $ | 23,569 |  |  |  |  |
Earnings per share - basic | $ | 0.77 |  |  |  |  |  |  |  |  | $ | 0.85 |  |  |  |  |
Earnings per share - diluted | 0.76 |  |  |  |  |  |  |  |  | 0.83 |  |  |  |  |

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Condensed Consolidated Statements of Income (Unaudited) (cont’d):

| For the three months ended |  |
($ in thousands, except per share amounts) | March 31, 2026 |  | December 31, 2025 |  | September 30, 2025 |  | June 30, 2025 |  | March 31, 2025 |  |  |  |
Total interest income | $ | 116,126 |  |  | $ | 119,273 |  |  | $ | 121,128 |  |  | $ | 116,921 |  |  | $ | 110,447 |  |  |  |  |
Total interest expense | 33,347 |  |  | 35,812 |  |  | 40,175 |  |  | 38,422 |  |  | 35,969 |  |  |  |  |
Net interest income | 82,779 |  |  | 83,461 |  |  | 80,953 |  |  | 78,499 |  |  | 74,478 |  |  |  |  |
Provision for credit losses | 8,250 |  |  | 6,200 |  |  | 10,100 |  |  | 4,500 |  |  | 3,800 |  |  |  |  |
Net interest income after credit loss expense | 74,529 |  |  | 77,261 |  |  | 70,853 |  |  | 73,999 |  |  | 70,678 |  |  |  |  |
Noninterest income: |  |  |  |  |  |  |  |  |  |  |  |  |
Service charges on deposit accounts | 2,096 |  |  | 2,116 |  |  | 2,162 |  |  | 2,016 |  |  | 2,027 |  |  |  |  |
Treasury management service fees | 4,613 |  |  | 4,544 |  |  | 4,402 |  |  | 4,333 |  |  | 4,194 |  |  |  |  |
Credit and debit card fees | 2,713 |  |  | 2,744 |  |  | 2,671 |  |  | 2,728 |  |  | 2,586 |  |  |  |  |
Trust and investment advisory fees | 1,489 |  |  | 1,515 |  |  | 1,536 |  |  | 1,473 |  |  | 1,421 |  |  |  |  |
Income from mortgage banking services, net | 14,315 |  |  | 12,102 |  |  | 12,641 |  |  | 13,274 |  |  | 9,055 |  |  |  |  |
Other noninterest income | 1,949 |  |  | 3,723 |  |  | 2,921 |  |  | 3,249 |  |  | 2,446 |  |  |  |  |
Total noninterest income | 27,175 |  |  | 26,744 |  |  | 26,333 |  |  | 27,073 |  |  | 21,729 |  |  |  |  |
Noninterest expense: |  |  |  |  |  |  |  |  |  |  |  |  |
Salary and employee benefits | 47,356 |  |  | 43,520 |  |  | 44,822 |  |  | 43,921 |  |  | 39,561 |  |  |  |  |
Occupancy, equipment and software | 10,006 |  |  | 9,576 |  |  | 9,591 |  |  | 9,541 |  |  | 9,536 |  |  |  |  |
Amortization and impairment of intangible assets | 507 |  |  | 628 |  |  | 578 |  |  | 578 |  |  | 628 |  |  |  |  |
Merger related expenses | 2,681 |  |  | 2,217 |  |  | 241 |  |  | 285 |  |  | — |  |  |  |  |
Other noninterest expenses | 14,791 |  |  | 16,100 |  |  | 13,669 |  |  | 13,785 |  |  | 12,997 |  |  |  |  |
Total noninterest expense | 75,341 |  |  | 72,041 |  |  | 68,901 |  |  | 68,110 |  |  | 62,722 |  |  |  |  |
Income before income taxes | 26,363 |  |  | 31,964 |  |  | 28,285 |  |  | 32,962 |  |  | 29,685 |  |  |  |  |
Provision for income taxes | 4,780 |  |  | 7,157 |  |  | 5,111 |  |  | 6,576 |  |  | 6,116 |  |  |  |  |
Net income | $ | 21,583 |  |  | $ | 24,807 |  |  | $ | 23,174 |  |  | $ | 26,386 |  |  | $ | 23,569 |  |  |  |  |
Earnings per share - basic | $ | 0.77 |  |  | $ | 0.89 |  |  | $ | 0.83 |  |  | $ | 0.95 |  |  | $ | 0.85 |  |  |  |  |
Earnings per share - diluted | 0.76 |  |  | 0.88 |  |  | 0.82 |  |  | 0.93 |  |  | 0.83 |  |  |  |  |

8

Condensed Consolidated Balance Sheets as of (Unaudited):

($ in thousands) | March 31, 2026 |  | December 31, 2025 |  | September 30, 2025 |  | June 30, 2025 |  | March 31, 2025
Assets |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 413,732 |  |  | $ | 652,592 |  |  | $ | 659,899 |  |  | $ | 785,115 |  |  | $ | 621,377 |
Securities available-for-sale, at fair value | 458,543 |  |  | 468,970 |  |  | 476,114 |  |  | 473,468 |  |  | 480,615 |
Securities held-to-maturity | 33,553 |  |  | 33,839 |  |  | 34,247 |  |  | 34,581 |  |  | 34,914 |
Loans held-for-sale, at fair value | 144,407 |  |  | 100,539 |  |  | 85,250 |  |  | 90,781 |  |  | 65,603 |
Loans | 6,939,972 |  |  | 6,673,180 |  |  | 6,681,629 |  |  | 6,507,066 |  |  | 6,484,008 |
Allowance for credit losses | (82,955) |  |  | (85,016) |  |  | (84,040) |  |  | (82,993) |  |  | (91,790) |
Loans, net | 6,857,017 |  |  | 6,588,164 |  |  | 6,597,589 |  |  | 6,424,073 |  |  | 6,392,218 |
Mortgage servicing rights, at fair value | 88,993 |  |  | 86,651 |  |  | 85,695 |  |  | 84,736 |  |  | 82,927 |
Premises and equipment, net | 81,138 |  |  | 81,523 |  |  | 81,886 |  |  | 82,248 |  |  | 82,333 |
Other real estate owned and foreclosed assets, net | 10,908 |  |  | 11,514 |  |  | 13,418 |  |  | 13,052 |  |  | 4,914 |
Goodwill | 93,483 |  |  | 93,483 |  |  | 93,483 |  |  | 93,483 |  |  | 93,483 |
Core deposits and other intangible assets, net | 4,476 |  |  | 4,983 |  |  | 5,650 |  |  | 6,228 |  |  | 6,806 |
Other assets | 378,873 |  |  | 362,904 |  |  | 362,206 |  |  | 348,096 |  |  | 351,268 |
Total assets | $ | 8,565,123 |  |  | $ | 8,485,162 |  |  | $ | 8,495,437 |  |  | $ | 8,435,861 |  |  | $ | 8,216,458 |
Liabilities and Stockholders' Equity |  |  |  |  |  |  |  |  |
Liabilities: |  |  |  |  |  |  |  |  |
Deposits: |  |  |  |  |  |  |  |  |
Noninterest-bearing accounts | $ | 1,599,919 |  |  | $ | 1,651,373 |  |  | $ | 1,674,497 |  |  | $ | 1,706,678 |  |  | $ | 1,574,736 |
Interest-bearing accounts: |  |  |  |  |  |  |  |  |
Demand and NOW | 1,569,910 |  |  | 1,483,841 |  |  | 1,457,886 |  |  | 1,485,058 |  |  | 1,497,763 |
Savings | 387,140 |  |  | 378,631 |  |  | 386,235 |  |  | 397,120 |  |  | 405,621 |
Money market | 2,318,768 |  |  | 2,301,837 |  |  | 2,233,309 |  |  | 2,082,043 |  |  | 1,819,979 |
Certificates of deposit | 1,211,776 |  |  | 1,291,674 |  |  | 1,353,488 |  |  | 1,429,265 |  |  | 1,576,140 |
Total deposits | 7,087,513 |  |  | 7,107,356 |  |  | 7,105,415 |  |  | 7,100,164 |  |  | 6,874,239 |
Securities sold under agreements to repurchase | 7,670 |  |  | 11,160 |  |  | 9,824 |  |  | 11,173 |  |  | 8,515 |
Federal Home Loan Bank advances | 75,000 |  |  | — |  |  | — |  |  | — |  |  | 35,000 |
Subordinated debt, net | 36,754 |  |  | 36,680 |  |  | 76,163 |  |  | 76,066 |  |  | 75,969 |
Other liabilities | 182,679 |  |  | 176,610 |  |  | 176,522 |  |  | 153,056 |  |  | 154,440 |
Total liabilities | 7,389,616 |  |  | 7,331,806 |  |  | 7,367,924 |  |  | 7,340,459 |  |  | 7,148,163 |
Stockholders' equity: |  |  |  |  |  |  |  |  |
Preferred stock | — |  |  | — |  |  | — |  |  | — |  |  | — |
Common stock | 3 |  |  | 3 |  |  | 3 |  |  | 3 |  |  | 3 |
Additional paid-in capital | 550,709 |  |  | 549,617 |  |  | 548,952 |  |  | 547,950 |  |  | 547,484 |
Retained earnings | 652,669 |  |  | 631,086 |  |  | 606,279 |  |  | 583,105 |  |  | 556,719 |
Accumulated other comprehensive loss, net | (27,874) |  |  | (27,350) |  |  | (27,721) |  |  | (35,656) |  |  | (35,911) |
Total stockholders' equity | 1,175,507 |  |  | 1,153,356 |  |  | 1,127,513 |  |  | 1,095,402 |  |  | 1,068,295 |
Total liabilities and stockholders' equity | $ | 8,565,123 |  |  | $ | 8,485,162 |  |  | $ | 8,495,437 |  |  | $ | 8,435,861 |  |  | $ | 8,216,458 |

9

Consolidated Capital Ratios as of:

| March 31, 2026 |  | December 31, 2025 |  | September 30, 2025 |  | June 30, 2025 |  | March 31, 2025
Stockholders' equity to total assets | 13.72 | % |  | 13.59 | % |  | 13.27 | % |  | 12.99 | % |  | 13.00 | %
Tangible stockholders' equity to tangible assets 1 | 12.73 | % |  | 12.58 | % |  | 12.25 | % |  | 11.94 | % |  | 11.93 | %
Tangible stockholders' equity to tangible assets reflecting net unrealized losses on HTM securities, net of tax 1, 2 | 12.69 | % |  | 12.54 | % |  | 12.21 | % |  | 11.90 | % |  | 11.89 | %
Tier 1 leverage ratio | 13.06 | % |  | 12.75 | % |  | 12.44 | % |  | 12.39 | % |  | 12.47 | %
Common equity tier 1 risk-based capital ratio | 13.77 | % |  | 14.12 | % |  | 13.79 | % |  | 13.78 | % |  | 13.26 | %
Tier 1 risk-based capital ratio | 13.77 | % |  | 14.12 | % |  | 13.79 | % |  | 13.78 | % |  | 13.26 | %
Total risk-based capital ratio | 15.29 | % |  | 15.73 | % |  | 15.81 | % |  | 15.94 | % |  | 15.52 | %
1 Represents a non-GAAP financial measure. See the tables beginning on page 15 for a reconciliation of each non-GAAP measure to the most comparable GAAP equivalent. 2 Tangible stockholders’ equity and tangible assets have been adjusted to reflect net unrealized losses on held-to-maturity securities, net of tax.

10

Summary of Net Interest Margin:

| For the three months ended |  |
| March 31, 2026 |  | March 31, 2025 |  |  |  |
(In thousands) | Average Balance |  |  |  | Average Yield/Rate |  | Average Balance |  |  |  | Average Yield/Rate |  |  |  |  |  |  |  |  |  |  |  |
Interest Earning Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loans 1 | $ | 6,857,477 |  |  |  |  | 6.36 | % |  | $ | 6,420,710 |  |  |  |  | 6.36 | % |  |  |  |  |  |  |  |  |  |  |  |
Investment securities | 499,792 |  |  |  |  | 3.30 | % |  | 501,809 |  |  |  |  | 3.53 | % |  |  |  |  |  |  |  |  |  |  |  |
Interest-bearing cash and other assets | 543,396 |  |  |  |  | 3.36 | % |  | 500,857 |  |  |  |  | 4.37 | % |  |  |  |  |  |  |  |  |  |  |  |
Total earning assets | 7,900,665 |  |  |  |  | 5.96 | % |  | 7,423,376 |  |  |  |  | 6.03 | % |  |  |  |  |  |  |  |  |  |  |  |
Other assets | 523,094 |  |  |  |  |  |  | 548,976 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total assets | $ | 8,423,759 |  |  |  |  |  |  | $ | 7,972,352 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest-bearing liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Demand and NOW deposits | $ | 1,526,124 |  |  |  |  | 1.69 | % |  | $ | 1,471,584 |  |  |  |  | 1.65 | % |  |  |  |  |  |  |  |  |  |  |  |
Savings deposits | 382,025 |  |  |  |  | 0.50 | % |  | 400,801 |  |  |  |  | 0.58 | % |  |  |  |  |  |  |  |  |  |  |  |
Money market deposits | 2,291,494 |  |  |  |  | 2.84 | % |  | 1,690,853 |  |  |  |  | 3.10 | % |  |  |  |  |  |  |  |  |  |  |  |
Certificates of deposit | 1,206,411 |  |  |  |  | 3.32 | % |  | 1,547,634 |  |  |  |  | 3.91 | % |  |  |  |  |  |  |  |  |  |  |  |
Total deposits | 5,406,054 |  |  |  |  | 2.46 | % |  | 5,110,872 |  |  |  |  | 2.73 | % |  |  |  |  |  |  |  |  |  |  |  |
Repurchase agreements | 9,712 |  |  |  |  | 1.70 | % |  | 9,615 |  |  |  |  | 1.57 | % |  |  |  |  |  |  |  |  |  |  |  |
Total deposits and repurchase agreements | 5,415,766 |  |  |  |  | 2.46 | % |  | 5,120,487 |  |  |  |  | 2.73 | % |  |  |  |  |  |  |  |  |  |  |  |
FHLB borrowings | 1,100 |  |  |  |  | 3.12 | % |  | 29,489 |  |  |  |  | 4.60 | % |  |  |  |  |  |  |  |  |  |  |  |
Other long-term borrowings | 36,719 |  |  |  |  | 5.72 | % |  | 75,907 |  |  |  |  | 6.43 | % |  |  |  |  |  |  |  |  |  |  |  |
Total interest-bearing liabilities | 5,453,585 |  |  |  |  | 2.48 | % |  | 5,225,883 |  |  |  |  | 2.79 | % |  |  |  |  |  |  |  |  |  |  |  |
Noninterest-bearing deposits | 1,623,528 |  |  |  |  |  |  | 1,532,150 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other liabilities | 175,292 |  |  |  |  |  |  | 155,337 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Stockholders' equity | 1,171,354 |  |  |  |  |  |  | 1,058,982 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total liabilities and stockholders' equity | $ | 8,423,759 |  |  |  |  |  |  | $ | 7,972,352 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net interest spread |  |  |  |  | 3.48 | % |  |  |  |  |  | 3.24 | % |  |  |  |  |  |  |  |  |  |  |  |
Net interest margin |  |  |  |  | 4.25 | % |  |  |  |  |  | 4.07 | % |  |  |  |  |  |  |  |  |  |  |  |
Net interest margin (on FTE basis)2 |  |  |  |  | 4.31 | % |  |  |  |  |  | 4.13 | % |  |  |  |  |  |  |  |  |  |  |  |
1 Includes loans held-for-investment, including nonaccrual loans, and loans held-for-sale.
2 Represents a non-GAAP financial measure. See the tables beginning on page 15 for a reconciliation of each non-GAAP measure to the most comparable GAAP equivalent.

11

Summary of Net Interest Margin (cont’d ):

| For the three months ended
| March 31, 2026 |  | December 31, 2025 |  | September 30, 2025 |  | June 30, 2025 |  | March 31, 2025
(In thousands) | Average Balance |  |  |  | Average Yield/Rate |  | Average Balance |  |  |  | Average Yield/Rate |  | Average Balance |  |  |  | Average Yield/Rate |  | Average Balance |  |  |  | Average Yield/Rate |  | Average Balance |  |  |  | Average Yield/Rate
Interest Earning Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loans 1 | $ | 6,857,477 |  |  |  |  | 6.36 | % |  | $ | 6,825,404 |  |  |  |  | 6.37 | % |  | $ | 6,667,158 |  |  |  |  | 6.49 | % |  | $ | 6,620,493 |  |  |  |  | 6.43 | % |  | $ | 6,420,710 |  |  |  |  | 6.36 | %
Investment securities | 499,792 |  |  |  |  | 3.30 | % |  | 506,964 |  |  |  |  | 3.35 | % |  | 505,999 |  |  |  |  | 3.43 | % |  | 510,350 |  |  |  |  | 3.48 | % |  | 501,809 |  |  |  |  | 3.53 | %
Interest-bearing cash and other assets | 543,396 |  |  |  |  | 3.36 | % |  | 583,717 |  |  |  |  | 3.68 | % |  | 714,885 |  |  |  |  | 4.25 | % |  | 596,713 |  |  |  |  | 4.28 | % |  | 500,857 |  |  |  |  | 4.37 | %
Total earning assets | 7,900,665 |  |  |  |  | 5.96 | % |  | 7,916,085 |  |  |  |  | 5.98 | % |  | 7,888,042 |  |  |  |  | 6.09 | % |  | 7,727,556 |  |  |  |  | 6.07 | % |  | 7,423,376 |  |  |  |  | 6.03 | %
Other assets | 523,094 |  |  |  |  |  |  | 519,607 |  |  |  |  |  |  | 540,079 |  |  |  |  |  |  | 537,156 |  |  |  |  |  |  | 548,976 |  |  |  |  |
Total assets | $ | 8,423,759 |  |  |  |  |  |  | $ | 8,435,692 |  |  |  |  |  |  | $ | 8,428,121 |  |  |  |  |  |  | $ | 8,264,712 |  |  |  |  |  |  | $ | 7,972,352 |  |  |  |  |
Interest-bearing liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Demand and NOW deposits | $ | 1,526,124 |  |  |  |  | 1.69 | % |  | $ | 1,464,053 |  |  |  |  | 1.75 | % |  | $ | 1,437,298 |  |  |  |  | 1.89 | % |  | $ | 1,518,316 |  |  |  |  | 1.77 | % |  | $ | 1,471,584 |  |  |  |  | 1.65 | %
Savings deposits | 382,025 |  |  |  |  | 0.50 | % |  | 381,978 |  |  |  |  | 0.55 | % |  | 391,444 |  |  |  |  | 0.59 | % |  | 401,093 |  |  |  |  | 0.58 | % |  | 400,801 |  |  |  |  | 0.58 | %
Money market deposits | 2,291,494 |  |  |  |  | 2.84 | % |  | 2,247,034 |  |  |  |  | 2.99 | % |  | 2,211,754 |  |  |  |  | 3.28 | % |  | 1,934,487 |  |  |  |  | 3.28 | % |  | 1,690,853 |  |  |  |  | 3.10 | %
Certificates of deposit | 1,206,411 |  |  |  |  | 3.32 | % |  | 1,284,200 |  |  |  |  | 3.49 | % |  | 1,397,371 |  |  |  |  | 3.64 | % |  | 1,504,235 |  |  |  |  | 3.76 | % |  | 1,547,634 |  |  |  |  | 3.91 | %
Total deposits | 5,406,054 |  |  |  |  | 2.46 | % |  | 5,377,265 |  |  |  |  | 2.60 | % |  | 5,437,867 |  |  |  |  | 2.81 | % |  | 5,358,131 |  |  |  |  | 2.78 | % |  | 5,110,872 |  |  |  |  | 2.73 | %
Repurchase agreements | 9,712 |  |  |  |  | 1.70 | % |  | 9,146 |  |  |  |  | 1.71 | % |  | 8,055 |  |  |  |  | 1.82 | % |  | 9,024 |  |  |  |  | 1.61 | % |  | 9,615 |  |  |  |  | 1.57 | %
Total deposits and repurchase agreements | 5,415,766 |  |  |  |  | 2.46 | % |  | 5,386,411 |  |  |  |  | 2.60 | % |  | 5,445,922 |  |  |  |  | 2.81 | % |  | 5,367,155 |  |  |  |  | 2.78 | % |  | 5,120,487 |  |  |  |  | 2.73 | %
FHLB borrowings | 1,100 |  |  |  |  | 3.12 | % |  | — |  |  |  |  | — | % |  | — |  |  |  |  | — | % |  | 2,308 |  |  |  |  | 4.72 | % |  | 29,489 |  |  |  |  | 4.60 | %
Other long-term borrowings | 36,719 |  |  |  |  | 5.72 | % |  | 36,650 |  |  |  |  | 5.82 | % |  | 76,117 |  |  |  |  | 8.41 | % |  | 76,025 |  |  |  |  | 6.19 | % |  | 75,907 |  |  |  |  | 6.43 | %
Total interest-bearing liabilities | 5,453,585 |  |  |  |  | 2.48 | % |  | 5,423,061 |  |  |  |  | 2.62 | % |  | 5,522,039 |  |  |  |  | 2.89 | % |  | 5,445,488 |  |  |  |  | 2.83 | % |  | 5,225,883 |  |  |  |  | 2.79 | %
Noninterest-bearing deposits | 1,623,528 |  |  |  |  |  |  | 1,698,126 |  |  |  |  |  |  | 1,642,346 |  |  |  |  |  |  | 1,587,302 |  |  |  |  |  |  | 1,532,150 |  |  |  |  |
Other liabilities | 175,292 |  |  |  |  |  |  | 167,658 |  |  |  |  |  |  | 145,730 |  |  |  |  |  |  | 145,064 |  |  |  |  |  |  | 155,337 |  |  |  |  |
Stockholders' equity | 1,171,354 |  |  |  |  |  |  | 1,146,847 |  |  |  |  |  |  | 1,118,006 |  |  |  |  |  |  | 1,086,858 |  |  |  |  |  |  | 1,058,982 |  |  |  |  |
Total liabilities and stockholders' equity | $ | 8,423,759 |  |  |  |  |  |  | $ | 8,435,692 |  |  |  |  |  |  | $ | 8,428,121 |  |  |  |  |  |  | $ | 8,264,712 |  |  |  |  |  |  | $ | 7,972,352 |  |  |  |  |
Net interest spread |  |  |  |  | 3.48 | % |  |  |  |  |  | 3.36 | % |  |  |  |  |  | 3.20 | % |  |  |  |  |  | 3.24 | % |  |  |  |  |  | 3.24 | %
Net interest margin |  |  |  |  | 4.25 | % |  |  |  |  |  | 4.18 | % |  |  |  |  |  | 4.07 | % |  |  |  |  |  | 4.07 | % |  |  |  |  |  | 4.07 | %
Net interest margin (on FTE basis)2 |  |  |  |  | 4.31 | % |  |  |  |  |  | 4.23 | % |  |  |  |  |  | 4.12 | % |  |  |  |  |  | 4.13 | % |  |  |  |  |  | 4.13 | %
1 Includes loans held-for-investment, including nonaccrual loans, and loans held-for-sale.
2 Represents a non-GAAP financial measure. See the tables beginning on page 15 for a reconciliation of each non-GAAP measure to the most comparable GAAP equivalent.

12

Deposits as of:

($ in thousands) | March 31, 2026 |  | December 31, 2025 |  |  |  | September 30, 2025 |  | June 30, 2025 |  | March 31, 2025 |  |
Consumer |  |  |  |  |  |  |  |  |  |  |  |  |
Noninterest-bearing deposit accounts | $ | 410,296 |  |  | $ | 404,666 |  |  |  |  | $ | 412,568 |  |  | $ | 426,909 |  |  | $ | 412,734 |  |  |
Interest-bearing deposit accounts: |  |  |  |  |  |  |  |  |  |  |  |  |
Demand and NOW | 607,465 |  |  | 590,535 |  |  |  |  | 598,499 |  |  | 610,623 |  |  | 603,309 |  |  |
Savings | 313,910 |  |  | 308,655 |  |  |  |  | 314,954 |  |  | 322,672 |  |  | 330,489 |  |  |
Money market | 1,397,890 |  |  | 1,400,593 |  |  |  |  | 1,416,258 |  |  | 1,306,140 |  |  | 1,090,779 |  |  |
Certificates of deposit | 793,503 |  |  | 809,401 |  |  |  |  | 869,077 |  |  | 937,439 |  |  | 1,065,839 |  |  |
Total interest-bearing deposit accounts | 3,112,768 |  |  | 3,109,184 |  |  |  |  | 3,198,788 |  |  | 3,176,874 |  |  | 3,090,416 |  |  |
Total consumer deposits | $ | 3,523,064 |  |  | $ | 3,513,850 |  |  |  |  | $ | 3,611,356 |  |  | $ | 3,603,783 |  |  | $ | 3,503,150 |  |  |
Business |  |  |  |  |  |  |  |  |  |  |  |  |
Noninterest-bearing deposit accounts | $ | 1,189,623 |  |  | $ | 1,246,707 |  |  |  |  | $ | 1,261,929 |  |  | $ | 1,279,769 |  |  | $ | 1,162,002 |  |  |
Interest-bearing deposit accounts: |  |  |  |  |  |  |  |  |  |  |  |  |
Demand and NOW | 962,445 |  |  | 893,306 |  |  |  |  | 859,387 |  |  | 874,435 |  |  | 894,454 |  |  |
Savings | 73,230 |  |  | 69,976 |  |  |  |  | 71,281 |  |  | 74,448 |  |  | 75,132 |  |  |
Money market | 920,878 |  |  | 901,244 |  |  |  |  | 817,051 |  |  | 775,903 |  |  | 729,200 |  |  |
Certificates of deposit | 51,940 |  |  | 57,349 |  |  |  |  | 57,225 |  |  | 56,930 |  |  | 65,420 |  |  |
Total interest-bearing deposit accounts | 2,008,493 |  |  | 1,921,875 |  |  |  |  | 1,804,944 |  |  | 1,781,716 |  |  | 1,764,206 |  |  |
Total business deposits | $ | 3,198,116 |  |  | $ | 3,168,582 |  |  |  |  | $ | 3,066,873 |  |  | $ | 3,061,485 |  |  | $ | 2,926,208 |  |  |
Wholesale deposits 1 | $ | 366,333 |  |  | $ | 424,924 |  |  |  |  | $ | 427,186 |  |  | $ | 434,896 |  |  | $ | 444,881 |  |  |
Total deposits | $ | 7,087,513 |  |  | $ | 7,107,356 |  |  |  |  | $ | 7,105,415 |  |  | $ | 7,100,164 |  |  | $ | 6,874,239 |  |  |
1 Wholesale deposits primarily consist of brokered deposits included in our condensed consolidated balance sheets within certificates of deposit.

Balance Sheet Ratios as of:

| March 31, 2026 |  | December 31, 2025 |  | September 30, 2025 |  | June 30, 2025 |  | March 31, 2025
Cash to total assets 1 | 4.70 | % |  | 7.60 | % |  | 7.70 | % |  | 9.20 | % |  | 7.50 | %
Loan to deposit ratio | 97.9 | % |  | 93.9 | % |  | 94.0 | % |  | 91.6 | % |  | 94.3 | %
Uninsured deposits to total deposits 2 | 35.4 | % |  | 36.6 | % |  | 36.2 | % |  | 37.0 | % |  | 35.2 | %
Uninsured and uncollateralized deposits to total deposits 2 | 28.6 | % |  | 29.0 | % |  | 28.3 | % |  | 28.3 | % |  | 26.4 | %
Wholesale deposits and borrowings to total liabilities 3 | 6.0 | % |  | 5.8 | % |  | 5.8 | % |  | 5.9 | % |  | 6.7 | %
1 Cash consists of unencumbered cash and amounts due from banks and interest-bearing deposits with other financial institutions. 2 Uninsured deposits and uninsured and uncollateralized deposits are reported for our wholly-owned subsidiary Sunflower Bank, N.A. and are estimated. 3 Wholesale deposits primarily consist of brokered deposits included in our condensed consolidated balance sheets within certificates of deposit. Wholesale borrowings consist of FHLB overnight and term advances.

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Loan Portfolio as of:

($ in thousands) | March 31, 2026 |  | December 31, 2025 |  |  |  | September 30, 2025 |  | June 30, 2025 |  | March 31, 2025 |  |
Commercial and industrial 1 | $ | 3,160,777 |  |  | $ | 2,937,867 |  |  |  |  | $ | 2,945,697 |  |  | $ | 2,779,767 |  |  | $ | 2,764,035 |  |  |
Commercial real estate: |  |  |  |  |  |  |  |  |  |  |  |  |
Non-owner occupied | 778,778 |  |  | 742,002 |  |  |  |  | 725,425 |  |  | 705,749 |  |  | 733,949 |  |  |
Owner occupied | 694,190 |  |  | 700,774 |  |  |  |  | 668,172 |  |  | 660,334 |  |  | 677,341 |  |  |
Construction and land | 280,781 |  |  | 268,652 |  |  |  |  | 343,803 |  |  | 383,969 |  |  | 386,056 |  |  |
Multifamily | 227,980 |  |  | 210,368 |  |  |  |  | 183,504 |  |  | 134,520 |  |  | 85,239 |  |  |
Total commercial real estate | 1,981,729 |  |  | 1,921,796 |  |  |  |  | 1,920,904 |  |  | 1,884,572 |  |  | 1,882,585 |  |  |
Residential real estate 2 | 1,216,810 |  |  | 1,221,086 |  |  |  |  | 1,209,742 |  |  | 1,226,760 |  |  | 1,195,714 |  |  |
Public Finance | 494,539 |  |  | 501,582 |  |  |  |  | 516,247 |  |  | 524,441 |  |  | 551,252 |  |  |
Consumer | 31,875 |  |  | 32,651 |  |  |  |  | 38,931 |  |  | 42,881 |  |  | 38,896 |  |  |
Other | 54,242 |  |  | 58,198 |  |  |  |  | 50,108 |  |  | 48,645 |  |  | 51,526 |  |  |
Loans, net of deferred costs, fees, premiums, and discounts | $ | 6,939,972 |  |  | $ | 6,673,180 |  |  |  |  | $ | 6,681,629 |  |  | $ | 6,507,066 |  |  | $ | 6,484,008 |  |  |
1 As of September 30, 2025, loans to nondepository financial institutions are now included within commercial and industrial. Prior period amounts have been reclassified to conform to the current presentation. 2 Includes 1-4 family residential construction. |  |

Asset Quality:

| As of and for the three months ended |  |
($ in thousands) | March 31, 2026 |  | December 31, 2025 |  | September 30, 2025 |  | June 30, 2025 |  | March 31, 2025 |  |  |  |
Net charge-offs (recoveries) | $ | 10,561 |  |  | $ | 5,024 |  |  | $ | 9,053 |  |  | $ | 13,547 |  |  | $ | 631 |  |  |  |  |
Allowance for credit losses | 82,955 |  |  | 85,016 |  |  | 84,040 |  |  | 82,993 |  |  | 91,790 |  |  |  |  |
Nonperforming loans, including nonaccrual loans, and accrual loans greater than 90 days past due | 59,656 |  |  | 60,771 |  |  | 69,641 |  |  | 54,841 |  |  | 78,590 |  |  |  |  |
Nonperforming assets | 70,564 |  |  | 72,285 |  |  | 83,059 |  |  | 67,893 |  |  | 83,504 |  |  |  |  |
Ratio of net charge-offs (recoveries) to average loans outstanding | 0.63 | % |  | 0.30 | % |  | 0.55 | % |  | 0.83 | % |  | 0.04 | % |  |  |  |
Allowance for credit losses to loans outstanding | 1.20 | % |  | 1.27 | % |  | 1.26 | % |  | 1.28 | % |  | 1.42 | % |  |  |  |
Allowance for credit losses to nonperforming loans | 139.06 | % |  | 139.90 | % |  | 120.68 | % |  | 151.33 | % |  | 116.80 | % |  |  |  |
Nonperforming loans to loans | 0.86 | % |  | 0.91 | % |  | 1.04 | % |  | 0.84 | % |  | 1.21 | % |  |  |  |
Nonperforming assets to total assets | 0.82 | % |  | 0.85 | % |  | 0.98 | % |  | 0.80 | % |  | 1.02 | % |  |  |  |

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Non-GAAP Financial Measures and Reconciliations:
| As of and for the three months ended |  |
($ in thousands, except share and per share amounts) | March 31, 2026 |  | December 31, 2025 |  | September 30, 2025 |  | June 30, 2025 |  | March 31, 2025 |  |  |  |
Tangible stockholders’ equity to tangible assets:
Total stockholders' equity (GAAP) | $ | 1,175,507 |  |  | $ | 1,153,356 |  |  | $ | 1,127,513 |  |  | $ | 1,095,402 |  |  | $ | 1,068,295 |  |  |  |  |
Less: Goodwill and other intangible assets |  |  |  |  |  |  |  |  |  |  |  |  |
Goodwill | (93,483) |  |  | (93,483) |  |  | (93,483) |  |  | (93,483) |  |  | (93,483) |  |  |  |  |
Other intangible assets | (4,476) |  |  | (4,983) |  |  | (5,650) |  |  | (6,228) |  |  | (6,806) |  |  |  |  |
Tangible stockholders' equity (non-GAAP) | $ | 1,077,548 |  |  | $ | 1,054,890 |  |  | $ | 1,028,380 |  |  | $ | 995,691 |  |  | $ | 968,006 |  |  |  |  |
Total assets (GAAP) | $ | 8,565,123 |  |  | $ | 8,485,162 |  |  | $ | 8,495,437 |  |  | $ | 8,435,861 |  |  | $ | 8,216,458 |  |  |  |  |
Less: Goodwill and other intangible assets |  |  |  |  |  |  |  |  |  |  |  |  |
Goodwill | (93,483) |  |  | (93,483) |  |  | (93,483) |  |  | (93,483) |  |  | (93,483) |  |  |  |  |
Other intangible assets | (4,476) |  |  | (4,983) |  |  | (5,650) |  |  | (6,228) |  |  | (6,806) |  |  |  |  |
Tangible assets (non-GAAP) | $ | 8,467,164 |  |  | $ | 8,386,696 |  |  | $ | 8,396,304 |  |  | $ | 8,336,150 |  |  | $ | 8,116,169 |  |  |  |  |
Total stockholders' equity to total assets (GAAP) | 13.72 | % |  | 13.59 | % |  | 13.27 | % |  | 12.99 | % |  | 13.00 | % |  |  |  |
Less: Impact of goodwill and other intangible assets | (0.99) | % |  | (1.01) | % |  | (1.02) | % |  | (1.05) | % |  | (1.07) | % |  |  |  |
Tangible stockholders' equity to tangible assets (non-GAAP) | 12.73 | % |  | 12.58 | % |  | 12.25 | % |  | 11.94 | % |  | 11.93 | % |  |  |  |
Tangible stockholders’ equity to tangible assets, reflecting net unrealized losses on HTM securities, net of tax:
Tangible stockholders' equity (non-GAAP) | $ | 1,077,548 |  |  | $ | 1,054,890 |  |  | $ | 1,028,380 |  |  | $ | 995,691 |  |  | $ | 968,006 |  |  |  |  |
Less: Net unrealized losses on HTM securities, net of tax | (3,407) |  |  | (3,320) |  |  | (3,432) |  |  | (4,238) |  |  | (3,803) |  |  |  |  |
Tangible stockholders’ equity less net unrealized losses on HTM securities, net of tax (non-GAAP) | $ | 1,074,141 |  |  | $ | 1,051,570 |  |  | $ | 1,024,948 |  |  | $ | 991,453 |  |  | $ | 964,203 |  |  |  |  |
Tangible assets (non-GAAP) | $ | 8,467,164 |  |  | $ | 8,386,696 |  |  | $ | 8,396,304 |  |  | $ | 8,336,150 |  |  | $ | 8,116,169 |  |  |  |  |
Less: Net unrealized losses on HTM securities, net of tax | (3,407) |  |  | (3,320) |  |  | (3,432) |  |  | (4,238) |  |  | (3,803) |  |  |  |  |
Tangible assets less net unrealized losses on HTM securities, net of tax (non-GAAP) | $ | 8,463,757 |  |  | $ | 8,383,376 |  |  | $ | 8,392,872 |  |  | $ | 8,331,912 |  |  | $ | 8,112,366 |  |  |  |  |
Tangible stockholders’ equity to tangible assets (non-GAAP) | 12.73 | % |  | 12.58 | % |  | 12.25 | % |  | 11.94 | % |  | 11.93 | % |  |  |  |
Less: Impact of net unrealized losses on HTM securities, net of tax | (0.04) | % |  | (0.04) | % |  | (0.04) | % |  | (0.04) | % |  | (0.04) | % |  |  |  |
Tangible stockholders’ equity to tangible assets reflecting net unrealized losses on HTM securities, net of tax (non-GAAP) | 12.69 | % |  | 12.54 | % |  | 12.21 | % |  | 11.90 | % |  | 11.89 | % |  |  |  |
Tangible book value per share:
Total stockholders' equity (GAAP) | $ | 1,175,507 |  |  | $ | 1,153,356 |  |  | $ | 1,127,513 |  |  | $ | 1,095,402 |  |  | $ | 1,068,295 |  |  |  |  |
Tangible stockholders' equity (non-GAAP) | 1,077,548 |  |  | 1,054,890 |  |  | 1,028,380 |  |  | 995,691 |  |  | 968,006 |  |  |  |  |
Total shares outstanding | 27,935,888 |  |  | 27,887,337 |  |  | 27,854,764 |  |  | 27,834,525 |  |  | 27,753,918 |  |  |  |  |
Book value per share (GAAP) | $ | 42.08 |  |  | $ | 41.36 |  |  | $ | 40.48 |  |  | $ | 39.35 |  |  | $ | 38.49 |  |  |  |  |
Tangible book value per share (non-GAAP) | $ | 38.57 |  |  | $ | 37.83 |  |  | $ | 36.92 |  |  | $ | 35.77 |  |  | $ | 34.88 |  |  |  |  |
Adjusted net income:
Net income (GAAP) | $ | 21,583 |  |  | $ | 24,807 |  |  | $ | 23,174 |  |  | $ | 26,386 |  |  | $ | 23,569 |  |  |  |  |
Add: Adjustments |  |  |  |  |  |  |  |  |  |  |  |  |
Merger related expenses, net of tax | 2,090 |  |  | 2,116 |  |  | 238 |  |  | 215 |  |  | — |  |  |  |  |
Total adjustments, net of tax | 2,090 |  |  | 2,116 |  |  | 238 |  |  | 215 |  |  | — |  |  |  |  |
Adjusted net income (non-GAAP) | $ | 23,673 |  |  | $ | 26,923 |  |  | $ | 23,412 |  |  | $ | 26,601 |  |  | $ | 23,569 |  |  |  |  |

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Non-GAAP Financial Measures and Reconciliations:
| As of and for the three months ended |  |
($ in thousands, except share and per share amounts) | March 31, 2026 |  | December 31, 2025 |  | September 30, 2025 |  | June 30, 2025 |  | March 31, 2025 |  |  |  |
Adjusted diluted earnings per share:
Diluted earnings per share (GAAP) | $ | 0.76 |  |  | $ | 0.88 |  |  | $ | 0.82 |  |  | $ | 0.93 |  |  | $ | 0.83 |  |  |  |  |
Add: Impact of adjustments |  |  |  |  |  |  |  |  |  |  |  |  |
Merger related expenses, net of tax | 0.08 |  |  | 0.07 |  |  | 0.01 |  |  | 0.01 |  |  | — |  |  |  |  |
Adjusted diluted earnings per share (non-GAAP) | $ | 0.84 |  |  | $ | 0.95 |  |  | $ | 0.83 |  |  | $ | 0.94 |  |  | $ | 0.83 |  |  |  |  |
Adjusted return on average total assets:
Return on average total assets (ROAA) (GAAP) | 1.04 | % |  | 1.17 | % |  | 1.09 | % |  | 1.28 | % |  | 1.20 | % |  |  |  |
Add: Impact of adjustments |  |  |  |  |  |  |  |  |  |  |  |  |
Merger related expenses, net of tax | 0.10 | % |  | 0.10 | % |  | 0.01 | % |  | 0.01 | % |  | — | % |  |  |  |
Adjusted ROAA (non-GAAP) | 1.14 | % |  | 1.27 | % |  | 1.10 | % |  | 1.29 | % |  | 1.20 | % |  |  |  |
Adjusted return on average stockholders’ equity:
Return on average stockholders' equity (ROAE) (GAAP) | 7.47 | % |  | 8.58 | % |  | 8.22 | % |  | 9.74 | % |  | 9.03 | % |  |  |  |
Add: Impact of adjustments |  |  |  |  |  |  |  |  |  |  |  |  |
Merger related expenses, net of tax | 0.73 | % |  | 0.73 | % |  | 0.09 | % |  | 0.08 | % |  | — | % |  |  |  |
Adjusted ROAE (non-GAAP) | 8.20 | % |  | 9.31 | % |  | 8.31 | % |  | 9.82 | % |  | 9.03 | % |  |  |  |
Return on average tangible stockholders’ equity
Return on average stockholders’ equity (ROAE) (GAAP) | 7.47 | % |  | 8.58 | % |  | 8.22 | % |  | 9.74 | % |  | 9.03 | % |  |  |  |
Add: Impact from goodwill and other intangible assets |  |  |  |  |  |  |  |  |  |  |  |  |
Goodwill | 0.69 | % |  | 0.81 | % |  | 0.81 | % |  | 0.98 | % |  | 0.94 | % |  |  |  |
Other intangible assets | 0.15 | % |  | 0.19 | % |  | 0.17 | % |  | 0.19 | % |  | 0.21 | % |  |  |  |
Return on average tangible stockholders’ equity (ROATE) (non-GAAP) | 8.31 | % |  | 9.58 | % |  | 9.20 | % |  | 10.91 | % |  | 10.18 | % |  |  |  |
Adjusted return on average tangible stockholders’ equity:
Return on average tangible stockholders' equity (ROATE) (non-GAAP) | 8.31 | % |  | 9.58 | % |  | 9.20 | % |  | 10.91 | % |  | 10.18 | % |  |  |  |
Add: Impact of adjustments |  |  |  |  |  |  |  |  |  |  |  |  |
Merger related expenses, net of tax | 0.79 | % |  | 0.80 | % |  | 0.10 | % |  | 0.09 | % |  | — | % |  |  |  |
Adjusted ROATE (non-GAAP) | 9.10 | % |  | 10.38 | % |  | 9.30 | % |  | 11.00 | % |  | 10.18 | % |  |  |  |
Adjusted total noninterest expense:
Total noninterest expense (GAAP) | $ | 75,341 |  |  | $ | 72,041 |  |  | $ | 68,901 |  |  | $ | 68,110 |  |  | $ | 62,722 |  |  |  |  |
Less: Adjustments: |  |  |  |  |  |  |  |  |  |  |  |  |
Merger related expenses | (2,681) |  |  | (2,217) |  |  | (241) |  |  | (285) |  |  | — |  |  |  |  |
Total adjustments | (2,681) |  |  | (2,217) |  |  | (241) |  |  | (285) |  |  | — |  |  |  |  |
Adjusted total noninterest expense (non-GAAP) | $ | 72,660 |  |  | $ | 69,824 |  |  | $ | 68,660 |  |  | $ | 67,825 |  |  | $ | 62,722 |  |  |  |  |
Adjusted efficiency ratio:
Efficiency ratio (GAAP) | 68.52 | % |  | 65.37 | % |  | 64.22 | % |  | 64.52 | % |  | 65.19 | % |  |  |  |
Less: Impact of adjustments |  |  |  |  |  |  |  |  |  |  |  |  |
Merger related expenses | (2.44) | % |  | (2.01) | % |  | (0.22) | % |  | (0.27) | % |  | — | % |  |  |  |
Adjusted efficiency ratio (non-GAAP) | 66.08 | % |  | 63.36 | % |  | 64.00 | % |  | 64.25 | % |  | 65.19 | % |  |  |  |

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Non-GAAP Financial Measures and Reconciliations:
| As of and for the three months ended |  |
($ in thousands, except share and per share amounts) | March 31, 2026 |  | December 31, 2025 |  | September 30, 2025 |  | June 30, 2025 |  | March 31, 2025 |  |  |  |
Fully tax equivalent (“FTE”) net interest income and net interest margin:
Net interest income (GAAP) | $ | 82,779 |  |  | $ | 83,461 |  |  | $ | 80,953 |  |  | $ | 78,499 |  |  | $ | 74,478 |  |  |  |  |
Gross income effect of tax exempt income | 1,198 |  |  | 1,156 |  |  | 1,225 |  |  | 1,204 |  |  | 1,192 |  |  |  |  |
FTE net interest income (non-GAAP) | $ | 83,977 |  |  | $ | 84,617 |  |  | $ | 82,178 |  |  | $ | 79,703 |  |  | $ | 75,670 |  |  |  |  |
Average earning assets | $ | 7,900,665 |  |  | $ | 7,916,085 |  |  | $ | 7,888,042 |  |  | $ | 7,727,556 |  |  | $ | 7,423,376 |  |  |  |  |
Net interest margin | 4.25 | % |  | 4.18 | % |  | 4.07 | % |  | 4.07 | % |  | 4.07 | % |  |  |  |
Net interest margin on FTE basis (non-GAAP) | 4.31 | % |  | 4.23 | % |  | 4.12 | % |  | 4.13 | % |  | 4.13 | % |  |  |  |

Contacts:
Investor Contact:
Ed Jacques
Director of Investor Relations & Business Development, FirstSun
Investor.Relations@firstsuncb.com
Media Contact:
Jeanne Lipson
Director of Marketing, Sunflower Bank
Jeanne.Lipson@SunflowerBank.com
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