FORWARD-LOOKING STATEMENTS The objective of this discussion and analysis is to provide material information relevant to the assessment of the financial condition and results of operations of Hancock Whitney Corporation and its subsidiaries during the three and six months ended June 30, 2026 and selected comparable prior periods, including an evaluation of the amounts and certainty of cash flows from operations and outside sources. This discussion and analysis is intended to highlight and supplement financial and operating data and information presented elsewhere in this report, including the consolidated financial statements and related notes. The discussion contains forward-looking statements within the meaning and protections of section 27A of the Securities Act of 1933, as amended, and section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are subject to risks and uncertainties. Should one or more of these risks or uncertainties materialize, our actual results may differ from those expressed or implied by the forward-looking statements. Important factors that could cause actual results to differ materially from the forward-looking statements we make in this Quarterly Report on Form 10-Q and in other reports or documents that we file from time to time with the SEC include, but are not limited to, the following: •general economic and business conditions in our local markets, including conditions affecting employment levels, interest rates, inflation, the threat of recession, volatile equity capital markets, property and casualty insurance costs, collateral values, customer income, creditworthiness and confidence, spending and savings that may affect customer bankruptcies, defaults, charge-offs and deposit activity; and the impact of the foregoing on customer behavior (including the velocity and levels of deposit withdrawals and loan repayment); •uncertainties surrounding geopolitical conflict, trade policy, taxation policy, and monetary policy, which continue to impact the outlook for future economic growth; a sustained increase in commodity prices; impacts from current and/or future imposition of tariffs by the United States against other nations; consideration of responsive actions by these nations, including retaliatory tariffs, or the expansion of import fees and tariffs among a larger group of nations, which is bringing greater ambiguity to the outlook for future economic growth, including reduced consumer spending, lower economic growth or recession, reduced demand for U.S. exports, disruptions to supply chains, impacts from decreased international tourism, decreased demand for banking products and services, and negative credit quality developments arising from the foregoing or other factors; •adverse developments in the banking industry and the potential impact of such developments on customer confidence, liquidity and regulatory responses to these developments (including increases in the cost of our deposit insurance assessments), the Company's ability to effectively manage its liquidity risk and any growth plans, and the availability of capital and funding; •balance sheet and revenue growth expectations may differ from actual results; •the risk that our provision for credit losses may be inadequate or may be negatively affected by credit risk exposure; •loan growth expectations; •management’s predictions about charge-offs; •fluctuations in commercial and residential real estate values, especially as they relate to the value of collateral supporting the Company's loans; •the risk that our enterprise risk management framework may not identify or address risks adequately, which may result in unexpected losses; •the timing, benefits, costs and synergies of the merger with OFB Bancshares, Inc., as well as statements regarding potential impact of current or future business combinations on our performance and financial condition, including our ability to successfully identify acquisition targets and to successfully integrate the businesses; •the potential impact of third-party business combinations in our footprint on our performance and financial condition; •deposit trends, including growth, pricing and betas; •credit quality trends; •changes in interest rates, including actions taken by the Federal Reserve Board and the impact of fluctuations in interest rates on our financial projections, models and guidance; •net interest margin trends, including the impact of ongoing elevated interest rates; •changes in the cost and availability of funding due to changes in the deposit and credit markets; •success of revenue-generating and cost reducing initiatives; •future expense levels; •changes in expense to revenue (efficiency ratio), including the risk that we may not realize and/or sustain benefits from efficiency and growth initiatives or that we may not be able to realize cost savings or revenue benefits in the time period expected, which could negatively affect our future profitability; •the impact of supplemental disclosure items on our results of operations; •the effectiveness of derivative financial instruments and hedging activities to manage risks; 40 Table of Contents •risks related to our reliance on third parties to provide key components of our business infrastructure, including the risks related to disruptions in services or financial difficulties of a third-party vendor; •risks related to potential claims, damages, penalties, fines and reputational damage resulting from pending or future litigation, regulatory proceedings or enforcement actions; •risks related to the ability of our operational framework to manage risks associated with our business such as credit risk and operational risk, including third-party vendors and other service providers, which could, among other things, result in a material breach of operating or security systems as a result of a cyber-attack or similar acts; •the extensive use, reliability, disruption, and accuracy of the models and data upon which we rely; •risks related to our implementation of new lines of business, new products and services, new technologies, and expansion of our existing business opportunities; •risks related to the development and use of artificial intelligence; •projected tax rates; •future profitability; •purchase accounting impacts, such as accretion levels; •our ability to identify and address potential cybersecurity risks and/or breaches, which may be exacerbated by recent developments in generative artificial intelligence, on our systems and/or third party vendors and service providers on which we rely, a material failure of which could disrupt our business and result in the disclosure of and/or misuse or misappropriation of confidential or proprietary information, disruption or damage to our systems, increased costs, losses, or adverse effects to our reputation; •our ability to receive dividends from Hancock Whitney Bank could affect our liquidity, including our ability to pay dividends or take other capital actions; •the risk that we may be required to make substantial expenditures to keep pace with regulatory initiatives and rapid technology changes in the financial services market; •the impact on our financial results, reputation, and business if we are unable to comply with all applicable federal and state regulations or other supervisory actions or directives and any necessary capital initiatives; •our ability to effectively compete with other traditional and non-traditional financial services companies, some of whom possess greater financial resources than we do or are subject to different regulatory standards; •our ability to maintain adequate internal controls over financial reporting; •the financial impact of future tax legislation; •the effects of geopolitical conflicts, war or other conflicts, acts of terrorism, climate change, natural disasters such as hurricanes, freezes, flooding, man-made disasters, such as oil spills, health emergencies, epidemics or pandemics, or other catastrophic events that may affect general economic conditions, and/or increase costs, including, but not limited to, property and casualty and other insurance costs; •risks related to diversity, equity and inclusion, and environmental, social and governance legislation, rulemaking, activism and litigation, the scope and pace of which could alter our reputation and shareholder, associate, customer and third-party affiliations; •changes in laws and regulations affecting our businesses, including governmental monetary and fiscal policies, legislation and regulations relating to bank products and services, as well as changes in the enforcement and interpretation of such laws and regulations by applicable governmental and self-regulatory agencies, which could require us to change certain business practices, increase compliance risk, reduce our revenue, impose additional costs on us, or otherwise negatively affect our businesses; •the impact of federal government shutdowns, and uncertainties stemming from extended durations of such; and •the potential implementation of a regulatory reform agenda impacting rulemaking, supervision, examination and enforcement priorities of the federal banking agencies. Also, any statement that does not describe historical or current facts is a forward-looking statement. These statements often include the words “believes,” “expects,” “anticipates,” “estimates,” “intends,” “plans,” “forecast,” “goals,” “targets,” “initiatives,” “focus,” “potentially,” “probably,” “projects,” “outlook,” or similar expressions or future conditional verbs such as “may,” “will,” “should,” “would,” and “could.” Forward-looking statements are based upon the current beliefs and expectations of management and on information currently available to management. Our statements speak as of the date hereof, and we do not assume any obligation to update these statements or to update the reasons why actual results could differ from those contained in such statements in light of new information or future events. Forward-looking statements are subject to significant risks and uncertainties. Investors are cautioned against placing undue reliance on such statements. Actual results may differ materially from those set forth in the forward looking statements. Additional factors that could cause actual results to differ materially can be found in Part I, Item 1A. “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2025, or in other periodic reports that we file with the SEC. 41 Table of Contents You are cautioned not to place undue reliance on these forward-looking statements. We do not intend, and undertake no obligation, to update or revise any forward-looking statements, whether as a result of differences in actual results, changes in assumptions or changes in other factors affecting such statements, except as required by law. OVERVIEW Non-GAAP Financial Measures Management’s Discussion and Analysis of Financial Condition and Results of Operations includes non-GAAP measures used to describe our performance. These non-GAAP financial measures have inherent limitations as analytical tools and should not be considered on a standalone basis or as a substitute for analyses of financial condition and results as reported under GAAP. Non-GAAP financial measures are not standardized and therefore, it may not be possible to compare these measures with other companies that present measures having the same or similar names. These disclosures should not be considered an alternative to GAAP. A reconciliation of those measures to GAAP measures are provided in the Consolidated Financial Results table later in this item. The following is a summary of these non-GAAP measures and an explanation as to why they are deemed useful. Consistent with the provisions of subpart 229.1400 of the Securities and Exchange Commission’s Regulation S-K, “Disclosures by Bank and Savings and Loan Registrants,” we present net interest income, net interest margin and efficiency ratios on a fully taxable equivalent ("te") basis. The te basis adjusts for the tax-favored status of net interest income from certain loans and investments using a statutory federal tax rate of 21% to increase tax-exempt interest income to a taxable equivalent basis. We believe this measure to be the preferred industry measurement of net interest income, and that it enhances comparability of net interest income arising from taxable and tax-exempt sources. We present certain additional non-GAAP financial measures to assist the reader with a better understanding of the Company’s performance period over period, and to provide investors with assistance in understanding the success management has experienced in executing its strategic initiatives. The Company highlights certain items that are outside of our principal business and/or are not indicative of forward-looking trends in supplemental disclosure items below our GAAP financial data and presents certain "Adjusted" ratios that exclude these disclosed items. These adjusted ratios provide management and the reader with a measure that may be more indicative of forward-looking trends in our business, as well as demonstrate the effects of significant gains or losses and changes. We define Adjusted Pre-Provision Net Revenue as net income excluding provision expense and income tax expense, plus the taxable equivalent adjustment (as defined above), less supplemental disclosure items (as defined above). Management believes that adjusted pre-provision net revenue is a useful financial measure because it enables investors and others to assess the Company’s ability to generate capital to cover credit losses through a credit cycle. We define Adjusted Revenue as net interest income (te) and noninterest income less supplemental disclosure items. We define Adjusted Noninterest Expense as noninterest expense less supplemental disclosure items. We define our Efficiency Ratio as noninterest expense to total net interest income (te) and noninterest income, excluding amortization of purchased intangibles and supplemental disclosure items, if applicable. Management believes adjusted revenue, adjusted noninterest expense and the efficiency ratio are useful measures as they provide a greater understanding of ongoing operations and enhance comparability with prior periods. Acquisition of OFB Bancshares, Inc. Subsequent to the end of the second quarter of 2026, on August 1, 2026, we acquired OFB Bancshares, Inc., parent company of One Florida Bank, in an all-cash transaction. One Florida Bank operated five financial centers in the greater Orlando, Florida area and one in the Florida Panhandle. At June 30, 2026, OFB Bancshares, Inc., on a consolidated basis, had total assets of $2.1 billion, total loans of $1.7 billion, and total deposits of $1.8 billion. The acquisition enhances our existing financial center footprint by establishing a meaningful presence in the high growth Orlando market and is expected to be immediately accretive to earnings per share, exclusive of one-time transaction costs. Full integration and system conversion activities are expected to be finalized in the fourth quarter of 2026. Securities Portfolio Restructuring In January 2026, we executed a restructuring of our available for sale securities portfolio whereby we sold securities with an amortized cost of $1.5 billion and average yield of 2.49% and reinvested the $1.4 billion of proceeds with the purchase of securities with an average yield of 4.35%. We anticipate a 50 month payback period to cover the $98.5 million pre-tax loss associated with the sale, or approximately $0.95 per diluted share after tax. The restructure is expected to contribute approximately $23.8 million to net interest income, or $0.23 per diluted share, resulting in increases of 32 basis points (bps) to the securities portfolio yield and 7 bps to net interest margin on an annual basis. 42 Table of Contents Current Economic Environment The U.S. – Iran conflict continues to contribute to heightened volatility and supply concerns in global energy markets. Rising energy prices were a significant contributor to inflation, with the consumer price index reaching 4.2% on an annualized basis in May 2026 before declining to 3.5% in June as energy prices retreated. Despite ongoing geopolitical and policy uncertainty, global equity markets rebounded sharply during the second quarter of 2026, and the U.S. economy proved more resilient through the energy shock than many had anticipated. The labor market saw an unexpected rebound in job creation in the latter part of the first quarter and into the second, and the unemployment rate dropped to 4.2% in June 2026. While energy prices likely hampered consumer spending, activity remained strong. Positive labor market and consumer spending indicators, coupled with continued business investments in artificial intelligence technology, drove real gross domestic product (GDP) growth of 1.5% on an annualized basis in the second quarter of 2026. In terms of monetary policy, the sharp rise in already persistent inflation has come to the forefront of the agenda. During the second quarter of 2026, the Federal Reserve announced no change in monetary policy and appears to have taken a hawkish position, emphasizing its commitment to price stability. As such, market expectations shifted in recent months from anticipation of multiple rate cuts in 2026 toward the notion that monetary policy could remain restrictive for a longer period. In the second quarter of 2026, conditions in the financial services industry remained generally favorable despite persistent economic pressures and uncertainty with respect to fiscal and monetary policy. Within our markets, we experienced robust loan production, and deposit cost pressures continued to moderate, contributing favorably to our net interest margin and profitability. Economic Outlook We utilize economic forecasts produced by Moody’s Analytics (Moody’s) that provide various scenarios to assist in the development of our economic outlook. This outlook discussion utilizes the June 2026 Moody’s forecast, the most current available at June 30, 2026. The forecasts are anchored on a baseline forecast scenario, which Moody’s defines as the “most likely outcome” of where the economy is headed based on current conditions. Several upside and downside scenarios are produced that are derived from the baseline scenario and incorporate varying degrees of favorable and unfavorable adjustments to economic indicators and circumstances as compared to the baseline. The baseline scenario maintains a mostly optimistic tenor with respect to economic outcomes, though the outlook has softened as energy prices remain elevated. Key variables underlying the June 2026 baseline forecast include the following: (1) the conflict with Iran will be resolved in the near-term; (2) the effective tariff rate of about 8% is expected to remain for the duration of the current administration before eventually falling back to about 2% late in the decade or early in the next; (3) above target inflation caused by the Iran conflict, oil price shock, tariffs and migration policy headwinds will preclude Federal Reserve interest rate cuts for the remainder of 2026 and 2027; (4) the combination of a slowdown in labor force growth and monthly job growth will remain a headwind to the labor market, prompting the unemployment rate to resume a gradual climb, peaking at 4.6% in the second quarter of 2027; (5) GDP is forecasted at 2.1% in 2026 and then slow to 1.9% in 2027 and 2.0% in 2028 before rebounding to 2.5% in 2029; (6) the 10-year U.S. Treasury yield is forecasted to average 4.4% in the second quarter of 2026 and remain near that level through the end of the decade due to elevated inflation and fiscal uncertainty. The S-2 scenario presents a downside alternative to the baseline. The S-2 scenario assumes the negotiations between the U.S. and Iran take longer than expected and that the damage to energy infrastructure is worse than expected and takes longer to repair. As a result, oil prices decline at a slower rate than assumed in the baseline. The effective tariff rate increases to about 11% and remains elevated through the end of 2028. The impacts on the economy from tariffs, deportations and elevated oil prices are worse than expected, causing inflation to rise. Further, there is longer and farther-reaching disturbance from other geopolitical conflict. The scenario assumes the unemployment rate will rise considerably to a peak of 7.3% in the second quarter of 2027 and remain elevated before returning to full employment in late 2028. The combination of higher oil prices, rising inflation, tariffs, still elevated interest rates and reduced credit availability causes the U.S. economy to fall into a mild recession beginning in the third quarter of 2026 that lasts for three quarters, with a peak-to-trough decline in GDP of 1% and the stock market contracting 22%. The recession and rising inflation prompts the Federal Reserve to lower its benchmark interest rate only slightly below what is forecasted in the baseline scenario before making more significant cuts as inflation subsides. Management has deemed certain assumptions underlying the baseline scenario and the downside S-2 scenario to have an equal likelihood to occur in the near term, and, as such, the baseline and S-2 scenarios were each given probability weightings of 50% in the calculation of our allowance for credit losses at June 30, 2026. The weighting of scenarios has changed from the March 31, 2026 calculation of allowance for credit losses, where the baseline scenario was weighted at 40% and the downside S-2 scenario was weighted at 60%. The change in weighting does not represent a significant shift in our outlook, but rather is a function of a shift in the assumptions underlying the baseline forecast to reflect the downside risks of the U.S. – Iran conflict. 43 Table of Contents The credit loss outlook for our portfolio as a whole has not changed materially since March 31, 2026. We continue to closely monitor our portfolio for customers that are sensitive to prolonged inflation, the elevated interest rate environment, tariffs, labor market conditions and/or other economic circumstances that may impact credit quality. Rapidly evolving changes in geopolitical, fiscal and other policies have created heightened uncertainty as to the impact on the U.S. and global economies. The duration and scope of the conflict in the Middle East is expected to play a pivotal role in economic conditions. The impact of continued inflation, a softening labor market and the Federal Reserve's actions to counter those effects, as well as to respond to other economic concerns, could reduce economic growth in the near term. The full extent of the impact of the conflict in the Middle East and other influential factors are uncertain and may have an adverse effect on the U.S. economy, including the possibility of an economic recession or slower growth in the near or midterm. Highlights of the Second Quarter 2026 We reported net income for the second quarter of 2026 of $127.0 million, or $1.55 per diluted common share, compared to $47.4 million, or $0.57 per diluted common share, in the first quarter of 2026 and $113.5 million, or $1.32 per diluted common share, in the second quarter of 2025. The first quarter of 2026 included a supplemental disclosure item attributable to a net loss on the restructuring of the available for sale securities portfolio totaling $98.6 million pre-tax, or $0.95 per diluted share after tax, and the second quarter of 2025 included supplemental disclosure items $5.9 million pre-tax, or $0.05 per diluted share, attributable to costs associated with the acquisition of Sabal Trust Company. Second quarter 2026 results compared to first quarter 2026: •Net income of $127.0 million, or $1.55 per diluted share •Adjusted pre-provision net revenue, a non-GAAP measure, totaled $178.1 million, up $5.2 million, or 3% •Period-end loans totaled $24.6 billion, up $588.3 million, or 2% •Period-end deposits totaled $29.6 billion, up $547.6 million, or 2% •Criticized commercial loans decreased while total nonaccrual loans remained relatively flat; annualized net charge-offs to average loans was 0.16%, down from 0.19% •Allowance for credit losses coverage to total loans remains solid at 1.42%, down 1 basis point (bp) from March 31, 2026 •Net interest margin of 3.56%, up 1 bp from prior quarter •Tangible common equity ratio of 9.78%, down 15 bps; common equity tier 1 ratio of 13.19%, down 10 bps; and total risk-based capital ratio of 14.98%, down 12 bps; all reflective of capital deployment to enhance shareholder value •Efficiency ratio, a non-GAAP measure, improved to 55.31%, compared to 55.43% Our results for the second quarter of 2026 reflect continued strong performance, profitability and enhanced shareholder value. We experienced solid loan and deposit growth during the quarter, reflecting continued progress on our organic growth plan. We continued to invest in our growth strategy with the hiring of a net 15 new bankers in the second quarter, bringing the year to date total to 42. We also returned capital to shareholders with the repurchase of 712,966 shares of our common stock, bringing year-to-date repurchases to 2.1 million shares. Noninterest income grew, expenses remained on target and our efficiency ratio improved. Credit metrics remained stable and we maintained a robust allowance for credit losses coverage of 1.42%. Looking ahead, our acquisition of One Florida Bank, completed on August 1, 2026, will enhance our ability to bring our relationship-based approach to banking to customers across an expanded footprint in the Central Florida area. We remain encouraged by the momentum across our franchise. While the operating environment continues to present challenges, we believe our solid balance sheet, strong customer relationships and disciplined execution position us well to deliver on our objectives for the remainder of this year and over the longer term. 44 Table of Contents Consolidated Financial Results The following table contains the consolidated financial results for the periods indicated. Three Months Ended Six Months Ended June 30, March 31, December 31, September 30, June 30, June 30, (in thousands, except per share data) 2026 2026 2025 2025 2025 2026 2025 Income Statement Data: Interest income $ 412,887 $ 401,382 $ 407,698 $ 409,020 $ 402,581 $ 814,269 $ 797,902 Interest income (te) (a) 415,100 403,783 410,203 411,591 405,077 818,883 803,204 Interest expense 119,875 116,217 125,528 129,282 125,622 236,092 251,038 Net interest income (te) 295,225 287,566 284,675 282,309 279,455 582,791 552,166 Provision for credit losses 13,775 13,172 13,145 12,651 14,925 26,947 25,387 Noninterest income 108,350 7,482 107,131 106,001 98,524 115,832 193,315 Noninterest expense 225,436 220,748 217,850 212,753 215,979 446,184 421,038 Income before income taxes 162,151 58,727 158,306 160,335 144,579 220,878 293,754 Income tax expense 35,190 11,305 32,734 32,869 31,048 46,495 60,719 Net income $ 126,961 $ 47,422 $ 125,572 $ 127,466 $ 113,531 $ 174,383 $ 233,035 Supplemental disclosure items-included above, pre-tax: Included in noninterest income Loss on securities portfolio restructure $ — $ 98,595 $ — $ — $ — $ 98,595 $ — Included in noninterest expense: Sabal Trust Company acquisition expense $ — $ — $ — $ — $ 5,911 $ — $ 5,911 Balance Sheet Data: Period end balance sheet data Loans $ 24,580,173 $ 23,991,840 $ 23,958,440 $ 23,596,565 $ 23,461,750 $ 24,580,173 $ 23,461,750 Earning assets 33,039,464 32,306,650 32,218,663 32,532,320 31,965,130 33,039,464 31,965,130 Total assets 36,345,972 35,542,126 35,472,762 35,766,407 35,212,652 36,345,972 35,212,652 Noninterest-bearing deposits 10,336,866 10,344,878 10,374,991 10,305,303 10,638,785 10,336,866 10,638,785 Total deposits 29,629,760 29,082,134 29,279,774 28,659,750 29,046,612 29,629,760 29,046,612 Stockholders' equity 4,444,134 4,419,592 4,460,117 4,474,479 4,365,419 4,444,134 4,365,419 Average balance sheet data Loans $ 24,339,904 $ 23,965,993 $ 23,715,763 $ 23,425,895 $ 23,249,241 $ 24,153,981 $ 23,159,406 Earning assets 33,205,847 32,698,837 32,598,315 32,213,632 32,081,140 32,953,742 32,052,670 Total assets 35,881,537 35,420,096 35,227,286 34,751,209 34,527,276 35,652,091 34,441,870 Noninterest-bearing deposits 10,104,015 10,033,006 10,165,806 10,121,707 10,317,446 10,068,707 10,240,760 Total deposits 28,780,937 28,834,747 28,816,539 28,492,076 28,649,900 28,807,693 28,700,875 Stockholders' equity 4,420,837 4,461,827 4,417,711 4,368,746 4,284,279 4,441,218 4,233,827 Common Share Data: Earnings per share - basic $ 1.56 $ 0.58 $ 1.51 $ 1.50 $ 1.32 $ 2.14 $ 2.70 Earnings per share - diluted 1.55 0.57 1.49 1.49 1.32 2.12 2.69 Cash dividends per common share 0.50 0.50 0.45 0.45 0.45 1.00 0.90 Book value per share (period-end) 55.23 54.46 54.22 52.82 51.15 55.23 51.15 Tangible book value per share (period-end) 42.95 42.26 42.16 41.07 39.46 42.95 39.46 Weighted average number of shares - diluted 81,485 82,261 83,791 85,453 85,943 81,868 86,203 Period-end number of shares 80,471 81,152 82,259 84,711 85,351 80,471 85,351 45 Table of Contents Three Months Ended Six Months Ended June 30, March 31, December 31, September 30, June 30, June 30, ($ in thousands) 2026 2026 2025 2025 2025 2026 2025 Performance and other data: Return on average assets 1.42 % 0.54 % 1.41 % 1.46 % 1.32 % 0.99 % 1.36 % Return on average common equity 11.52 % 4.31 % 11.28 % 11.58 % 10.63 % 7.92 % 11.10 % Return on average tangible common equity 14.84 % 5.54 % 14.55 % 15.00 % 13.71 % 10.19 % 14.21 % Tangible common equity ratio (b) 9.78 % 9.93 % 10.06 % 10.01 % 9.84 % 9.78 % 9.84 % Common equity Tier 1 (CET1) ratio 13.19 % 13.29 % 13.65 % 14.09 % 13.97 % 13.19 % 13.97 % Net interest margin (te) 3.56 % 3.55 % 3.48 % 3.49 % 3.49 % 3.55 % 3.46 % Noninterest income as a percentage of total revenue (te) 26.85 % 2.54 % 27.34 % 27.30 % 26.07 % 16.58 % 25.93 % Efficiency ratio (c) 55.31 % 55.43 % 54.93 % 54.10 % 54.91 % 55.37 % 55.06 % Allowance for loan losses as a percentage of period-end loans 1.27 % 1.30 % 1.28 % 1.33 % 1.33 % 1.27 % 1.33 % Allowance for credit losses as a percentage of period-end loans 1.42 % 1.43 % 1.43 % 1.45 % 1.45 % 1.42 % 1.45 % Annualized net charge-offs to average loans 0.16 % 0.19 % 0.22 % 0.19 % 0.31 % 0.17 % 0.24 % Nonaccrual loans as a percentage of loans 0.46 % 0.47 % 0.45 % 0.48 % 0.40 % 0.46 % 0.40 % FTE headcount 3,674 3,658 3,627 3,603 3,580 3,674 3,580 Reconciliation of pre-provision net revenue (te) and adjusted pre-provision net revenue(te) (non-GAAP measures) (d) Net income (GAAP) $ 126,961 $ 47,422 $ 125,572 $ 127,466 $ 113,531 $ 174,383 $ 233,035 Provision for credit losses 13,775 13,172 13,145 12,651 14,925 26,947 25,387 Income tax expense 35,190 11,305 32,734 32,869 31,048 46,495 60,719 Pre-provision net revenue 175,926 71,899 171,451 172,986 159,504 247,825 319,141 Taxable equivalent adjustment 2,213 2,401 2,505 2,571 2,496 4,614 5,302 Pre-provision net revenue (te) 178,139 74,300 173,956 175,557 162,000 $ 252,439 $ 324,443 Adjustments from supplemental disclosure items Loss on securities portfolio restructure — 98,595 — — — 98,595 — Sabal Trust Company acquisition expense — — — — 5,911 — 5,911 Adjusted pre-provision net revenue (te) $ 178,139 $ 172,895 $ 173,956 $ 175,557 $ 167,911 $ 351,034 $ 330,354 Reconciliation of revenue (te), adjusted revenue (te) and efficiency ratio (non-GAAP measures) (d) Net interest income $ 293,012 $ 285,165 $ 282,170 $ 279,738 $ 276,959 $ 578,177 $ 546,864 Noninterest income 108,350 7,482 107,131 106,001 98,524 115,832 193,315 Total GAAP revenue 401,362 292,647 389,301 385,739 375,483 694,009 740,179 Taxable equivalent adjustment 2,213 2,401 2,505 2,571 2,496 4,614 5,302 Total revenue (te) $ 403,575 $ 295,048 $ 391,806 $ 388,310 $ 377,979 $ 698,623 $ 745,481 Adjustments from supplemental disclosure items Loss on securities portfolio restructure — 98,595 — — — 98,595 — Adjusted total revenue (te) $ 403,575 $ 393,643 $ 391,806 $ 388,310 $ 377,979 $ 797,218 $ 745,481 GAAP noninterest expense $ 225,436 $ 220,748 $ 217,850 $ 212,753 $ 215,979 $ 446,184 $ 421,038 Amortization of intangibles (2,222 ) (2,548 ) (2,622 ) (2,694 ) (2,524 ) (4,770 ) (4,637 ) Adjustments from supplemental disclosure items Sabal Trust Company acquisition expense — — — — (5,911 ) — (5,911 ) Adjusted noninterest expense for efficiency $ 223,214 $ 218,200 $ 215,228 $ 210,059 $ 207,544 $ 441,414 $ 410,490 Efficiency ratio (c) 55.31 % 55.43 % 54.93 % 54.10 % 54.91 % 55.37 % 55.06 % (a)For analytical purposes, management adjusts interest income and net interest income for tax-exempt items to a taxable equivalent basis using a federal income tax rate of 21%. (b)The tangible common equity ratio is common stockholders’ equity less intangible assets divided by total assets less intangible assets. (c)The efficiency ratio, a non-GAAP financial measure, is noninterest expense to total net interest (te) and noninterest income, excluding amortization of purchased intangibles and supplemental disclosure items. (d)Refer to the non-GAAP financial measures section of this analysis for a discussion of these measures. RESULTS OF OPERATIONS Net Interest Income Net interest income (te) for the second quarter of 2026 totaled $295.2 million, up $7.7 million, or 3%, from the first quarter of 2026, and $582.8 million for the first six months of 2026, up $30.6 million, or 6%, from the same period in 2025. The $7.7 million increase in net interest income (te) from the first quarter of 2026 is comprised of an increase in interest income (te) of $11.3 million partially offset by an increase in interest expense of $3.6 million. The increase in interest income (te) was driven primarily by loan growth, an additional accrual day and an increase in interest income from securities as a result of the full-quarter impact of the portfolio restructuring completed in late January 2026. The increase in interest expense was primarily attributable to an increase in average short-term borrowings to support growth in the loan portfolio and an additional accrual day, partially offset by a decrease in the cost of deposits, reflecting a continued shift in the mix of average interest-bearing deposits from time deposits to transaction and savings deposits. The net interest margin for the second quarter of 2026 was 3.56%, up 1 bp from the first quarter of 46 Table of Contents 2026, driven primarily by higher securities yields as a result of the bond portfolio restructuring, up 12 bps, and a lower cost of interest on deposits, down 5 bps, partially offset by lower loan yields, down 2 bps, and an increase in borrowing costs, up 26 bps. The $30.6 million increase in net interest income (te) for the six months ended June 30, 2026 from the same period in 2025 is comprised of a $15.7 million increase in interest income (te) and a $14.9 million decrease in interest expense. The increase in interest income (te) was primarily attributable to an increase in interest income from securities, as the impact of loan growth was largely offset by a decline in loan yields. The decrease in interest expense was driven by a decline in interest expense on deposits that was largely a product of the interest rate environment, which also fostered a favorable shift in the mix of average interest-bearing deposits from time deposits to transaction and savings deposits, partially offset by an increase in average short-term borrowings. The net interest margin for the six months ended June 30, 2026 was 3.55%, up 9 bps from the same period in 2025, largely attributable to the impact of higher securities yields of 47 bps, a lower cost of interest-bearing deposits of 37 bps, partially offset by a decline in loan yields of 24 bps and an increase in borrowing costs of 40 bps. The following tables detail the components of our net interest income (te) and net interest margin. Three Months Ended June 30, 2026 March 31, 2026 June 30, 2025 ($ in millions) Volume Interest Rate Volume Interest Rate Volume Interest Rate Average earning assets Commercial & real estate loans (te) (a) $ 19,085.1 $ 276.8 5.82 % $ 18,651.4 $ 268.8 5.84 % $ 17,832.7 $ 271.1 6.10 % Residential mortgage loans 3,921.8 39.2 4.00 % 3,982.5 40.1 4.03 % 4,082.0 41.6 4.07 % Consumer loans 1,333.0 25.1 7.54 % 1,332.1 24.9 7.57 % 1,334.5 27.8 8.34 % Loan fees & late charges — (0.8 ) 0.00 % — (1.0 ) 0.00 % — (0.6 ) 0.00 % Total loans (te) (b) 24,339.9 340.3 5.60 % 23,966.0 332.8 5.62 % 23,249.2 339.9 5.86 % Loans held for sale 48.0 0.7 6.22 % 27.7 0.4 5.36 % 24.4 0.4 6.55 % US Treasury and government agency securities 647.3 5.3 3.29 % 643.7 5.2 3.23 % 628.9 5.0 3.16 % Mortgage-backed securities and collateralized mortgage obligations 7,065.2 59.2 3.35 % 6,945.1 56.2 3.24 % 6,864.2 48.4 2.82 % Municipals (te) 554.3 4.6 3.33 % 659.9 5.2 3.13 % 761.2 5.6 2.95 % Other securities 18.8 0.2 4.40 % 17.0 0.2 4.11 % 17.5 0.1 3.69 % Total securities (te) (c) 8,285.6 69.3 3.35 % 8,265.7 66.8 3.23 % 8,271.8 59.1 2.86 % Total short-term investments 532.3 4.8 3.58 % 439.4 3.8 3.53 % 535.7 5.7 4.28 % Total earning assets (te) $ 33,205.8 $ 415.1 5.01 % $ 32,698.8 $ 403.8 4.99 % $ 32,081.1 $ 405.1 5.06 % Average interest-bearing liabilities Interest-bearing transaction and savings deposits $ 12,389.5 $ 57.8 1.87 % $ 12,032.7 $ 54.4 1.83 % $ 11,341.9 $ 59.7 2.11 % Time deposits 3,436.5 26.5 3.09 % 3,647.9 30.0 3.34 % 4,044.4 35.9 3.57 % Public funds 2,850.9 18.3 2.57 % 3,121.1 20.0 2.60 % 2,946.2 22.1 3.01 % Total interest-bearing deposits 18,676.9 102.6 2.20 % 18,801.7 104.4 2.25 % 18,332.5 117.7 2.58 % Repurchase agreements 703.5 2.2 1.26 % 707.2 2.1 1.23 % 606.7 2.1 1.39 % Other short-term borrowings 1,278.6 12.3 3.86 % 721.0 6.8 3.80 % 247.0 2.8 4.49 % Long-term debt 193.8 2.8 5.79 % 198.0 2.9 5.82 % 211.1 3.0 5.67 % Total borrowings 2,175.9 17.3 3.19 % 1,626.2 11.8 2.93 % 1,064.8 7.9 2.96 % Total interest-bearing liabilities 20,852.8 119.9 2.31 % 20,427.9 116.2 2.31 % 19,397.3 125.6 2.60 % Net interest-free funding sources 12,353.0 12,270.9 12,683.8 Total cost of funds $ 33,205.8 $ 119.9 1.45 % $ 32,698.8 $ 116.2 1.44 % $ 32,081.1 $ 125.6 1.57 % Net interest spread (te) $ 295.2 2.70 % $ 287.6 2.68 % $ 279.5 2.46 % Net interest margin $ 33,205.8 $ 295.2 3.56 % $ 32,698.8 $ 287.6 3.55 % $ 32,081.1 $ 279.5 3.49 % (a)Taxable equivalent (te) amounts were calculated using a federal income tax rate of 21%. (b)Includes nonaccrual loans. (c)Average securities do not include unrealized holding gains/losses on available for sale securities. 47 Table of Contents Six Months Ended June 30, 2026 June 30, 2025 ($ in millions) Volume Interest Rate Volume Interest Rate Average earning assets Commercial & real estate loans (te) (a) $ 18,869.5 $ 545.6 5.83 % $ 17,785.7 $ 538.1 6.10 % Residential mortgage loans 3,952.0 79.3 4.01 % 4,031.1 80.3 3.98 % Consumer loans 1,332.5 50.0 7.55 % 1,342.6 55.4 8.31 % Loan fees & late charges — (1.8 ) 0.00 % — (0.8 ) 0.00 % Total loans (te) (b) 24,154.0 673.1 5.61 % 23,159.4 673.0 5.85 % Loans held for sale 37.9 1.1 5.90 % 22.5 0.7 6.62 % US Treasury and government agency securities 645.5 10.5 3.26 % 608.9 9.4 3.08 % Mortgage-backed securities and collateralized mortgage obligations 7,005.5 115.4 3.30 % 6,848.1 95.1 2.78 % Municipals (te) 606.8 9.8 3.22 % 781.9 11.6 2.95 % Other securities 17.9 0.4 4.26 % 17.8 0.3 3.66 % Total securities (te) (c) 8,275.7 136.1 3.29 % 8,256.7 116.4 2.82 % Total short-term investments 486.1 8.6 3.56 % 614.1 13.1 4.30 % Total earning assets (te) $ 32,953.7 $ 818.9 5.00 % $ 32,052.7 $ 803.2 5.04 % Average interest-bearing liabilities Interest-bearing transaction and savings deposits $ 12,212.1 $ 112.2 1.85 % $ 11,272.5 $ 117.0 2.09 % Time deposits 3,541.6 56.5 3.22 % 4,158.0 75.9 3.68 % Public funds 2,985.3 38.3 2.59 % 3,029.6 45.3 3.02 % Total interest-bearing deposits 18,739.0 207.0 2.23 % 18,460.1 238.2 2.60 % Repurchase agreements 705.3 4.4 1.24 % 619.1 3.9 1.27 % Other short-term borrowings 1,001.3 19.0 3.84 % 126.2 2.8 4.50 % Long-term debt 195.9 5.7 5.81 % 210.9 6.1 5.74 % Total borrowings 1,902.5 29.1 3.08 % 956.2 12.8 2.68 % Total interest-bearing liabilities 20,641.5 236.1 2.31 % 19,416.3 251.0 2.61 % Net interest-free funding sources 12,312.2 12,636.4 Total cost of funds $ 32,953.7 $ 236.1 1.44 % $ 32,052.7 $ 251.0 1.58 % Net interest spread (te) $ 582.8 2.69 % $ 552.2 2.43 % Net interest margin $ 32,953.7 $ 582.8 3.55 % $ 32,052.7 $ 552.2 3.46 % (a)Taxable equivalent (te) amounts were calculated using a federal income tax rate of 21%. (b)Includes nonaccrual loans. (c)Average securities do not include unrealized holding gains/losses on available for sale securities. Provision for Credit Losses During the second quarter of 2026, we recorded a provision for credit losses of $13.8 million, compared to $13.2 million in the first quarter of 2026. The provision for credit losses in the second quarter of 2026 included net charge-offs of $9.4 million and a reserve build of $4.4 million, compared to net charge-offs of $11.1 million and a reserve build of $2.1 million in the first quarter of 2026. The provisions for credit losses in both periods reflect mostly stable credit quality and modest builds attributable to loan growth. Annualized net charge-offs as a percentage of average loans in the second quarter of 2026 were 0.16%, down from 0.19%, in the first quarter of 2026. Net charge-offs in the second quarter of 2026 included $6.6 million in the commercial portfolio, $2.7 million in the consumer portfolio and $0.1 million in the residential mortgage portfolio. Net charge-offs in the first quarter of 2026 included $7.4 million in the commercial portfolio, $3.5 million in the consumer portfolio and $0.2 million in the residential mortgage portfolio. For the six months ended June 30, 2026, we recorded a provision for credit losses of $26.9 million compared to $25.4 million for the same period in 2025. The provision for credit losses for the six months ended June 30, 2026 included net charge-offs of $20.6 million and a reserve build of $6.3 million, compared to net charge-offs of $28.0 million and a reserve release of $2.6 million in the same period in 2025. Net charge-offs for the six months ended June 30, 2026 were 0.17% of average loans, comprised of net charge-offs of $14.1 million in the commercial portfolio, $6.2 million in the consumer portfolio and $0.3 million in the residential mortgage portfolio. Net charge-offs for the six months ended June 30, 2025 were 0.24% of average loans, comprised of net charge-offs of $21.8 million in the commercial portfolio and $6.3 million in the consumer portfolio, partially offset by net recoveries of less than $0.1 million in the residential mortgage portfolio. 48 Table of Contents The discussion labeled "Allowance for Credit Losses and Asset Quality" that appears later in this Item provides additional information on these changes and on general credit quality. Noninterest Income Noninterest income totaled $108.4 million for the second quarter of 2026, up $100.9 million from the first quarter of 2026. Included in noninterest income in the first quarter of 2026 was a $98.6 million loss identified as a supplemental disclosure item attributable to the restructuring of the available for sales securities portfolio. Excluding the supplemental disclosure item, noninterest income was up $2.3 million, or 2%, from the first quarter of 2026, driven primarily by increases in investment and annuity fees, trust fees, bank card and ATM fees and income from secondary mortgage market operations, partially offset by a decline in other miscellaneous income. For the six months ended June 30, 2026, noninterest income totaled $115.8 million, down $77.5 million from the same period in 2025. Excluding the supplemental disclosure item described above, noninterest income was up $21.1 million, or 11%, from the same period in 2025, with increases across most lines. A detailed discussion of noninterest income variances follows. The components of noninterest income are presented in the following table for the indicated periods. Three Months Ended Six Months Ended June 30, March 31, June 30, June 30, June 30, ($ in thousands) 2026 2026 2025 2026 2025 Service charges on deposit accounts $ 25,897 $ 25,902 $ 24,256 $ 51,799 $ 48,375 Trust fees 26,049 24,574 22,753 50,623 40,775 Bank card and ATM fees 23,181 22,126 22,004 45,307 42,718 Investment and annuity fees and insurance commissions 14,617 12,572 10,603 27,189 22,018 Secondary mortgage market operations 4,065 3,529 4,147 7,594 7,615 Securities transactions, net — (98,595 ) — (98,595 ) — Income from bank-owned life insurance 6,316 5,267 5,313 11,583 10,186 Credit related fees 2,788 2,775 2,713 5,563 5,553 Income (loss) from customer and other derivatives 395 960 1,969 1,355 1,698 Net gains on sales of premises, equipment and other assets 1,638 2,046 1,036 3,684 2,893 Other miscellaneous 3,404 6,326 3,730 9,730 11,484 Total noninterest income $ 108,350 $ 7,482 $ 98,524 $ 115,832 $ 193,315 Supplemental Disclosure Items in Noninterest Income Securities transactions, net: Loss on securities portfolio restructure $ — $ (98,595 ) $ — $ (98,595 ) $ — Total supplemental disclosure item in noninterest income $ — $ (98,595 ) $ — $ (98,595 ) $ — Service charges on deposit accounts include consumer, business, and corporate deposit account servicing fees, as well as nonsufficient funds fees on non-consumer accounts, overdraft and overdraft protection fees, and other customer transaction-related fees. Service charges on deposits totaled $25.9 million for the second quarter of 2026, virtually flat compared to the first quarter of 2026. For the six months ended June 30, 2026, service charges on deposits totaled $51.8 million, up $3.4 million, or 7%, from the same period in 2025, primarily attributable to consumer overdraft fees and analysis fees on commercial accounts. Trust fee income represents revenue generated from a full range of trust services, including asset management and custody services provided to individuals, businesses and institutions. Trust fees totaled $26.0 million for the second quarter of 2026, up $1.5 million, or 6%, from the first quarter of 2026, driven in part by seasonal tax preparation fees. For the six months ended June 30, 2026, trust fees totaled $50.6 million, up $9.8 million, or 24%, from the same period in 2025. The year-over-year increase is mostly attributable to personal trust, resulting from both a full period contribution from the Sabal acquisition and organic and market value-driven growth in our legacy business. Bank card and ATM fees include interchange and other income from credit and debit card transactions, fees earned from processing card transactions for merchants, and fees earned from ATM transactions. Bank card and ATM fees totaled $23.2 million for the second quarter of 2026, up $1.1 million, or 5%, from the first quarter of 2026, reflecting higher activity across all fee lines. Bank card and ATM fees for the six months ended June 30, 2026 totaled $45.3 million, up $2.6 million, or 6%, from the same period in 2025. The year-over-year increase is mostly attributable to interchange fees, due in part to card-focused marketing campaigns, and ATM fees, reflecting a marketing adjustment on certain fees. 49 Table of Contents Investment and annuity fees and insurance commissions includes both fees earned from sales of annuity and insurance products, as well as managed account fees. Investment and annuity fees and insurance commissions totaled $14.6 million for the second quarter of 2026, up $2.0 million, or 16%, from the first quarter of 2026. The linked quarter increase was largely driven by annuity sales, corporate underwriting fees and investment management fees. For the six months ended June 30, 2026, investment and annuity fees and insurance commissions totaled $27.2 million, up $5.2 million, or 23%, from the same period in 2025. The year-over-year increase was largely driven by fixed income trading and investment management fees, partially offset by a decline in annuity sales. Investment and annuity fee income can vary from period to period depending on market conditions, impacting demand for products and services and related fees. Income from secondary mortgage market operations is comprised of income produced from the origination and sales of residential mortgage loans in the secondary market. We offer a full range of mortgage products to our customers and typically sell longer-term fixed-rate loans while retaining the majority of adjustable-rate loans, as well as loans generated through programs to support customer relationships. Secondary mortgage market operations income will vary based on mortgage application volume, pull through rates, the percentage of loans ultimately sold in the secondary market and the timing of such sales. Income from secondary mortgage market operations was $4.1 million in the second quarter of 2026, up $0.5 million, or 15%, from the first quarter of 2026. The linked quarter increase was primarily attributable to an increase in mortgage production. For the six months ended June 30, 2026, income from secondary mortgage market operations totaled $7.6 million, virtually flat compared to the same period in 2025, as the impact of an increase in mortgage production was offset by a decline in the percentage of loans sold in the secondary market. There was no net gain or loss on securities transactions during the second quarter of 2026, compared to a net loss on securities transactions of $98.6 million in the first quarter of 2026 that resulted from the sale of $1.5 billion of available for sale securities. The sale reflects a strategic decision to restructure the portfolio to enhance future net interest income through deployment of the proceeds into higher-yielding instruments. Income from bank-owned life insurance (BOLI) is typically generated through insurance benefit proceeds as well as the growth of the cash surrender value of insurance contracts held. Income from BOLI was $6.3 million for the second quarter of 2026, up $1.0 million, or 20%, from the first quarter of 2026. The linked quarter increase was driven primarily by an increase in mortality gains and also reflects an increase in income from changes in cash surrender value. For the six months ended June 30, 2026, income from BOLI totaled $11.6 million, up $1.4 million, or 14%, from the same period in 2025, driven by an increase in income from changes in cash surrender value that was partially offset by a decline in mortality gains. Credit related fees include fees assessed on letters of credit and unused portions of loan commitments. For the three and six months ended June 30, 2026, credit related fees totaled $2.8 million and $5.6 million, respectively. The linked quarter and year-over-year variances were virtually flat in relation to the respective comparative periods. Income or loss from customer and other derivatives is largely from our customer interest rate derivative program. Income from customer and other derivatives totaled $0.4 million for the second quarter of 2026, down $0.6 million from the first quarter of 2026. The linked quarter decrease was largely attributable to the customer derivative program and is a product of volume and interest rate movement, partially offset by lower losses associated with assumption changes to the Visa Class B derivative liability. For the six months ended June 30, 2026, income from customer and other derivatives totaled $1.4 million, down $0.3 million from the same period in 2025. The year-over-year decrease was also driven by the customer derivative program. Derivative income can be volatile and is dependent upon the composition of the portfolio, volume and mix of sales and termination activity, and market value adjustments due to market interest rate movement. Net gains on sales of premises, equipment and other assets consist primarily of net revenue earned from sales of excess-bank owned facilities and equipment no longer in use, gains on sales of Small Business Administration (SBA) and other non-residential mortgage loans, and leases and other assets associated with the equipment finance line of business. Net gains on sales of premises, equipment and other assets for the second quarter of 2026 totaled $1.6 million, down $0.4 million, or 20%, from the first quarter of 2026. For the six months ended June 30, 2026, net gains on sales of premises, equipment and other assets totaled $3.7 million, up $0.8 million, or 27%, from the same period in 2025. The level of net gains or losses on sales of these assets in a given reporting period will vary based on a variety of circumstances. Other miscellaneous income is comprised of various items, including income from investments in small business investment companies (SBIC), dividends on Federal Home Loan Bank (FHLB) stock, and fees from loan syndication and other specialty lines of business. Other miscellaneous income totaled $3.4 million, down $2.9 million from the first quarter of 2026. The linked quarter decrease reflects declines in income from SBICs, syndication income and dividends on FHLB stock. For the six months ended June 30, 2026, other miscellaneous income totaled $9.7 million, down $1.8 million from the same period in 2025. The year over year decrease was driven primarily by a decline in income from SBICs that was partially offset by an increase in dividends on FHLB stock. SBIC income and syndication fees will vary from period to period, depending on activity. 50 Table of Contents Noninterest Expense Noninterest expense for the second quarter of 2026 was $225.4 million, up $4.7 million, or 2%, from the first quarter of 2026, driven by personnel, other miscellaneous, professional services and occupancy and equipment expenses, partially offset by a decrease in data processing expense. For the six months ended June 30, 2026, noninterest expense totaled $446.2 million, up $25.1 million, or 6%, from the same period in 2025. Included in noninterest expense for six months ended June 30, 2025 were supplemental disclosure items totaling $5.9 million attributable to costs associated with the Sabal acquisition. Excluding the supplemental disclosure items, noninterest expense was up $31.1 million, or 7%, from the same period in 2025, largely driven by increases in personnel, business development, data processing and professional services expenses. A more detailed discussion of noninterest expense variances follows. The components of noninterest expense are presented in the following table for the indicated periods. Three Months Ended Six Months Ended June 30, March 31, June 30, June 30, June 30, ($ in thousands) 2026 2026 2025 2026 2025 Compensation expense $ 105,579 $ 98,788 $ 95,875 $ 204,367 $ 184,827 Employee benefits 24,612 28,360 20,637 52,972 46,032 Personnel expense 130,191 127,148 116,512 257,339 230,859 Net occupancy expense 13,857 13,129 13,825 26,986 27,405 Equipment expense 4,410 4,157 4,541 8,567 8,632 Data processing expense 31,701 32,796 33,448 64,497 64,698 Professional services expense 14,538 13,600 16,371 28,138 28,606 Amortization of intangible assets 2,222 2,548 2,524 4,770 4,637 Deposit insurance and regulatory fees 5,019 4,988 4,822 10,007 9,848 Other real estate and foreclosed asset expense, net 214 441 1,181 655 2,961 Corporate value and franchise taxes and other non-income taxes 4,545 4,416 4,733 8,961 9,036 Entertainment and contributions 3,477 4,218 3,347 7,695 6,734 Advertising 4,325 4,186 2,988 8,511 6,003 Telecommunications and postage 2,667 2,642 2,570 5,309 5,011 Travel expense 2,231 1,635 1,891 3,866 3,123 Tax credit investment amortization 890 903 1,068 1,793 2,136 Printing and supplies 1,145 985 1,269 2,130 2,171 Net other retirement expense (5,647 ) (5,311 ) (3,907 ) (10,958 ) (7,791 ) Other miscellaneous 9,651 8,267 8,796 17,918 16,969 Total noninterest expense $ 225,436 $ 220,748 $ 215,979 $ 446,184 $ 421,038 Supplemental Disclosure Items in Noninterest Expense Sabal Trust Company acquisition expense: Personnel expense $ — $ — $ 1,422 $ — $ 1,422 Data processing expense — — 1,976 — 1,976 Professional services expense — — 1,550 — 1,550 Printing and supplies — — 210 — 210 Other — — 753 — 753 Total supplemental disclosure items in noninterest expense $ — $ — $ 5,911 $ — $ 5,911 51 Table of Contents Personnel expense consists of salaries, incentive compensation, long-term incentives, payroll taxes, and other employee benefits such as 401(k), pension, and insurance for medical, life and disability. Personnel expense totaled $130.2 million for the second quarter of 2026, up $3.0 million, or 2%, from the first quarter of 2026. The linked quarter increase was driven primarily by increases in salary expense as a result of annual merit increases and increased headcount, commissions and incentives associated with production, share-based compensation and certain employee benefits. These increases were partially offset by seasonal declines in payroll tax and certain other employee benefits, and a favorable benefit from salary deferrals associated with lending activity. For the six months ended June 30, 2026, personnel expense totaled $257.3 million, up $26.5 million, or 11%, from the same period in 2025. The six months ended June 30, 2025 included $1.4 million of Sabal acquisition costs highlighted as supplemental disclosure items. Excluding the Sabal acquisition costs, personnel expense for the six months ended June 30, 2026 was up $27.9 million, or 12%, from the same period in 2025. The year-over-year increase reflects increases in most components of this category, and reflects both expected annual increases in salary, incentives, bonus and associated benefit costs, and incremental expense associated with increased headcount that includes both Sabal associates and additional hires of revenue-producing and facility management associates. Occupancy and equipment expenses are primarily composed of lease expenses, depreciation, maintenance and repairs, rent, property taxes, and other equipment expenses. Occupancy and equipment expenses totaled $18.3 million for the second quarter of 2026, up $1.0 million, or 6%, from the first quarter of 2026, primarily attributable to increases in building repair and maintenance and leased facility expense. For the six months ended June 30, 2026, occupancy and equipment expenses totaled $35.6 million, down $0.5 million, or 1%, compared to the same period in 2025. The year-over-year decrease was driven by decreases in facility repair and maintenance and outsourced facility management that were partially offset by an increase in leased facility expense. Data processing expense includes expenses related to third party technology processing and servicing costs, technology project costs and fees associated with bank card and ATM transactions, and credit card reward expenses. Data processing expense was $31.7 million for the second quarter of 2026, down $1.1 million, or 3%, from the first quarter of 2026. The linked quarter decrease was driven primarily by declines in maintenance on bank owned software and certain third-party technology processing expenses, partially offset by an increase in activity-based card processing and rewards and rebate expenses. For the six months ended June 30, 2026, data processing expense totaled $64.5 million, down $0.2 million, or less than 1%, from the same period in 2025. The six months ended June 30, 2025 included $2.0 million of Sabal acquisition costs highlighted as supplemental disclosure items. Excluding the Sabal acquisition costs, data processing expense for the six months ended June 30, 2026 was up $1.8 million, or 3%, from the same period in 2025. The year over year increase was largely attributable to increases in certain third-party technology processing and activity-based card processing and rewards and rebates expenses, partially offset by a decrease in amortization and maintenance on bank owned software. Data processing expense can vary from period to period, depending on business needs and technology enhancement initiatives. Professional services expense includes accounting and audit, legal, consulting and certain outsourced service expense. Professional services expense for the second quarter of 2026 totaled $14.5 million, up $0.9 million, or 7%, from the first quarter of 2026. The linked quarter increase was mostly attributable to legal fees, consulting fees, expenses associated with problem loan collections and outsourced service expenses. For the six months ended June 30, 2026, professional services expense totaled $28.1 million, down $0.5 million, or 2%, from the same period in 2025. The six months ended June 30, 2025 included $1.5 million of Sabal acquisition costs highlighted as supplemental disclosure items. Excluding the Sabal acquisition costs, professional services expense for the six months ended June 30, 2026 was up $1.1 million, or 4%, from the same period in 2025. The year-over-year increase was largely attributable to costs associated with consulting and other professional services associated with stand-alone engagements, including process improvement projects. Professional services expense may vary from period to period, generally related to the timing of external service needs. Deposit insurance and regulatory fees for the second quarter of 2026 totaled $5.0 million, virtually flat compared to the first quarter of 2026. For the six months ended June 30, 2026, deposit insurance and regulatory fees totaled $10.0 million, up $0.2 million, or 2%, from the same period in 2025. Other real estate and foreclosed assets expense totaled $0.2 million in the second quarter of 2026, down $0.2 million from the first quarter of 2026. For the six months ended June 30, 2026, other real estate and foreclosed assets expense totaled $0.7 million, down $2.3 million from the same period in 2025. Gains or losses on the sale of other real estate and foreclosed assets may occur periodically and are dependent on the number and type of assets for sale and current market conditions. Corporate value, franchise and other non-income tax expense for the second quarter of 2026 totaled $4.5 million, up $0.1 million, or 3%, from the first quarter of 2026. The linked quarter increase was largely attributable to bank share tax. For the six months ended June 30, 2026, corporate value, franchise and other non-income tax expense totaled $9.0 million down $0.1 million, or 1%, from the same period in 2025. The year-over-year decline was driven by a decrease in bank share tax that was mostly offset by an increase in 52 Table of Contents franchise tax. The calculation of bank share tax is based on multiple variables, including average quarterly assets, earnings and stockholders’ equity to determine the taxable assessment value and can vary from period to period. Business development-related expenses (including advertising, travel, entertainment and contributions) totaled $10.0 million for the second quarter of 2026, virtually flat compared to the first quarter of 2026, as increases in advertising and promotion and travel expenses were offset by decreases in contributions, sponsorships and promotional campaign expenses. For the six months ended June 30, 2026, business development-related expenses totaled $20.1 million, up $4.2 million, or 27%, from the same period in 2025. The year-over-year increase was attributable to most components of this category but driven primarily by advertising and promotion expenses. All other expenses, excluding amortization of intangibles, is comprised of a variety of other operational expenses and losses, tax credit investment amortization, and net other retirement expense. All other expenses totaled $8.7 million for the second quarter of 2026, up $1.2 million, or 16%, from the first quarter of 2026. The linked quarter increase was driven largely by other operational losses. For the six months ended June 30, 2026, all other expenses totaled $16.2 million, down $2.3 million, or 12%, from the same period in 2025. The six months ended June 30, 2025 included $1.0 million of Sabal acquisition costs highlighted as supplemental disclosure items. Excluding the Sabal acquisition costs, all other expenses for the six months ended June 30, 2026 was down $1.3 million, or 8%, from the same period in 2025, driven primarily by net other retirement expense as a result of changes in actuarial assumptions for our pension plan, partially offset by an increase in other operational losses. Income Taxes The effective income tax rate for the second quarter of 2026 was 21.7%, compared to 19.3% in the first quarter of 2026. The linked-quarter increase in the effective tax rate was due primarily to a $1.4 million income tax benefit in the first quarter of 2026 related to various discrete items, such as share-based compensation. The effective tax rate for the six months ended June 30, 2026 was 21.1%, compared to 20.7% for the same period in 2025. Many factors impact the effective income tax rate including, but not limited to, the level of pre-tax income and relative impact of net tax benefits related to tax credit investments, tax-exempt interest income, bank-owned life insurance, and nondeductible expenses. Additionally, discrete tax items recognized in any given period affect the comparability of the effective income tax rate between periods. Such items include share-based compensation, valuation allowance changes, uncertain tax position changes and tax law changes. Our effective tax rate has historically varied from the federal statutory rate primarily because of tax-exempt income and tax credits. Interest income on bonds issued by or loans to state and municipal governments and authorities, and earnings from the bank-owned life insurance program are the major components of tax-exempt income. The main source of tax credits has been investments in tax-advantaged securities and tax credit projects. These investments are made primarily in the markets we serve and are directed at tax credits issued under the Federal and State New Market Tax Credit (“NMTC”) programs, Low-Income Housing Tax Credit (“LIHTC”) programs, as well as pre-2018 Qualified Zone Academy Bonds (“QZAB”) and Qualified School Construction Bonds (“QSCB”). These investments generate tax credits, which reduce current and future taxes and are recognized when earned as a benefit in the provision for income taxes. We have invested in NMTC projects through investments in our own Community Development Entities (“CDE”), as well as other unrelated CDEs. Federal tax credits from NMTC investments are recognized over a seven-year period, while recognition of the benefits from state tax credits varies from three to five years. We have also invested in affordable housing projects that generate federal LIHTC tax credits that are recognized over a ten-year period, beginning in the year the rental activity begins. The amortization of the LIHTC investment cost is recognized as a component of income tax expense in proportion to the tax credits recognized over the ten-year credit period. Based on tax credit investments that have been made to date in 2026, we expect to realize benefits from federal and state tax credits over the next three years totaling $8.0 million, $5.5 million, and $4.4 million in 2027, 2028, and 2029, respectively. We may continue making investments in tax credit projects; however, our ability to access new credits will depend upon, among other factors, federal and state tax policies and the level of competition for such credits. 53 Table of Contents LIQUIDITY AND CAPITAL RESOURCES Liquidity Liquidity management ensures that funds are available to meet the cash flow requirements of our depositors and borrowers, while also meeting the operating, capital and strategic cash flow needs of the Company, the Bank and other subsidiaries. As part of the overall asset and liability management process, liquidity management strategies and measurements have been developed to manage and monitor liquidity risk. The following table summarizes available liquidity at June 30, 2026: June 30, 2026 ($ in thousands) Total Available Amount Used Net Availability Available Sources of Funding: Internal Sources: Free securities $ 4,566,934 $ — $ 4,566,934 External Sources: Federal Home Loan Bank (a) 6,826,443 1,993,422 4,833,021 Federal Reserve Bank 3,407,180 — 3,407,180 Brokered deposits 4,444,464 — 4,444,464 Other 1,209,000 — 1,209,000 Total Available Sources of Funding $ 20,454,021 $ 1,993,422 $ 18,460,599 Cash and other interest-bearing bank deposits 1,087,121 Total Liquidity $ 19,547,720 (a) Amount used includes letters of credit. Liquidity levels of financial institutions continue to be in heightened focus since the failure of several major regional U.S. banks that experienced large-scale deposit runs in early 2023. At June 30, 2026, our available on and off-balance sheet liquidity of $19.5 billion is well in excess of our estimated uninsured, noncollateralized deposits of approximately $12.4 billion. The asset portion of the balance sheet provides liquidity primarily through loan principal repayments, maturities and repayments of investment securities and occasional sales of various assets. Short-term investments such as federal funds sold, securities purchased under agreements to resell and interest-bearing deposits with the Federal Reserve Bank or with other commercial banks are additional sources of liquidity to meet cash flow requirements. Free securities represent unpledged securities that can be sold or used as collateral for borrowings, and include unpledged securities assigned to short-term dealer repurchase agreements or to the Federal Reserve Bank discount window. Total pledged securities were $3.3 billion at June 30, 2026, down $619 million from December 31, 2025. The decrease in pledged securities compared to December 31, 2025 is largely attributable to pledges that were released in response to a decrease in public funds deposits. Both securities and FHLB letters of credit are pledged as collateral related to public funds and repurchase agreements. Management has established an internal target for the ratio of free securities to total securities of 20% or greater. As shown in the table below, our ratio of free securities to total securities was 58.76% at June 30, 2026, compared to 56.35% at March 31, 2026, and 51.97% at December 31, 2025. June 30, March 31, December 31, September 30, June 30, Liquidity Metrics 2026 2026 2025 2025 2025 Free securities / total securities 58.76 % 56.35 % 51.97 % 60.83 % 59.44 % Core deposits / total deposits 95.50 % 95.17 % 94.99 % 94.81 % 94.68 % Wholesale funds / core deposits 6.24 % 5.62 % 4.37 % 7.74 % 4.57 % Liquid assets / total liabilities 17.72 % 16.85 % 15.63 % 19.88 % 17.67 % Quarter-to-date average loans / quarter-to-date average deposits 84.57 % 83.11 % 82.30 % 82.22 % 81.15 % The liability portion of the balance sheet provides liquidity mainly through the ability to use cash sourced from customer deposit accounts. At June 30, 2026, deposits totaled $29.6 billion, up $547.6 million, or 2%, from March 31, 2026 and $350.0 million, or 1%, from December 31, 2025, due primarily to growth in transaction and savings deposits that was partially offset by retail time deposit maturities and typical seasonal movement in public funds deposits. There were no brokered time deposits at June 30, 2026, March 31, 2026 or December 31, 2025. The use of brokered deposits as a funding source is subject to certain policies regarding the amount, term and interest rate. Core deposits consist of total deposits excluding certificates of deposit of $250,000 or more and brokered deposits. Core deposits totaled $28.3 billion at June 30, 2026, up $621.0 million from March 31, 2026 and $484.3 million from December 31, 2025. Changes 54 Table of Contents in the level of core deposits will vary based on the level of total deposits and the mix therein. The ratio of core deposits to total deposits was 95.50% at June 30, 2026, compared to 95.17% at March 31, 2026 and 94.99% at December 31, 2025. Purchases of federal funds, securities sold under agreements to repurchase and other short-term borrowings from customers provide additional sources of liquidity to meet short-term funding requirements. Besides funding from customer sources, the Bank has a line of credit with the FHLB that is secured by blanket pledges of certain mortgage loans. At June 30, 2026, the bank had $950 million in borrowings and approximately $4.8 billion available under this line. At June 30, 2026, the unused borrowing capacity at the Federal Reserve’s discount window was approximately $3.4 billion. There were no outstanding borrowings with the Federal Reserve at any date during any period covered by this report. Wholesale funds, which are comprised of short-term borrowings, long-term debt and brokered deposits were 6.24% of core deposits at June 30, 2026, compared to 5.62% at March 31, 2026 and 4.37% at December 31, 2025. At June 30, 2026, wholesale funds totaled $1.8 billion, an increase of $210.6 million from March 31 2026 and $548.1 million from December 31, 2025, largely driven by an increase in FHLB borrowings. The amount of wholesale funds outstanding will vary based on retail deposit levels and current funding needs. The Company has established an internal target for wholesale funds to be less than 25% of core deposits. Other key measures used to monitor liquidity include the liquid asset ratio and the loan-to-deposit ratio. The liquid asset ratio (liquid assets, consisting of cash, short-term investments and free securities, divided by total liabilities) measures our ability to meet short-term obligations. Our liquid asset ratio was 17.72% at June 30, 2026, compared to 16.85% at March 31, 2026 and 15.63% at December 31, 2025. Management has established a minimum liquid asset ratio of 7.5% and an internal target of 12% or greater. The loan to deposit ratio (average loans outstanding for the reporting period divided by average deposits outstanding) measures the amount of funds the Bank lends for each dollar of deposits on hand. Our average loan-to-deposit ratio for the second quarter of 2026 was 84.57%, compared to 83.11% for the first quarter of 2026, and 82.30% for the fourth quarter of 2025. Management has an established target range for the loan-to-deposit ratio of 87% to 89%, but will operate outside that range under certain circumstances. Cash generated from operations is another important source of funds to meet liquidity needs. The Consolidated Statements of Cash Flows included in Part I, Item 1 of this document present operating cash flows and summarize all significant sources and uses of funds during the six months ended June 30, 2026 and 2025. Dividends received from the Bank have been the primary source of funds available to the Parent for the payment of dividends to our stockholders, repurchasing our common stock in the open market, servicing its debt and for acquisitions with cash consideration. The liquidity management process takes into account the various regulatory provisions that can limit the amount of dividends the Bank can distribute to the Parent. The Parent targets cash and other liquid assets to provide liquidity in an amount sufficient to fund approximately six quarters of ongoing cash or liquid asset needs, consisting primarily of common stockholder dividends, debt service requirements, and any expected early extinguishment of debt. The Parent may operate below the target level on a temporary basis if a return to the target can be achieved within a reasonable amount of time. The Parent had cash and liquid assets of $244.2 million at June 30, 2026. Capital Resources Stockholders’ equity totaled $4.4 billion at June 30, 2026, down $16.0 million, or less than 1%, from December 31, 2025. The decrease from December 31, 2025 is primarily attributable to common stock repurchases of $144.5 million, dividends of $82.5 million, partially offset by net income of $174.4 million, other comprehensive income of $30.8 million and long-term incentive plan and dividend reinvestment activity of $5.9 million. The tangible common equity (TCE) ratio was 9.78% at June 30, 2026, down 28 bps from 10.06% at December 31, 2025, driven by common stock repurchases (-42 bps), tangible asset growth (-25 bps) and dividends (-24 bps), partially offset by tangible net earnings (+52 bps) and other comprehensive income (+9 bps) and stock-based compensation and other (+2 bps). The regulatory capital ratios of the Company and the Bank at June 30, 2026 remained well in excess of current regulatory minimum requirements, including capital conservation buffers, by at least $1.0 billion. The Company and the Bank have been categorized as “well-capitalized” in the most recent notices received from our regulators. Refer to the Supervision and Regulation section in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025 for further discussion of our capital requirements. The following table shows the regulatory capital ratios for the Company and the Bank for the indicated periods. 55 Table of Contents Well- June 30, March 31, December 31, September 30, June 30, Capitalized 2026 2026 2025 2025 2025 Total capital (to risk weighted assets) Hancock Whitney Corporation 10.00 % 14.98 % 15.10 % 15.45 % 15.92 % 15.82 % Hancock Whitney Bank 10.00 % 14.05 % 14.25 % 14.43 % 14.88 % 14.79 % Tier 1 common equity capital (to risk weighted assets) Hancock Whitney Corporation 6.50 % 13.19 % 13.29 % 13.65 % 14.09 % 13.97 % Hancock Whitney Bank 6.50 % 12.86 % 13.05 % 13.24 % 13.67 % 13.57 % Tier 1 capital (to risk weighted assets) Hancock Whitney Corporation 8.00 % 13.19 % 13.29 % 13.65 % 14.09 % 13.97 % Hancock Whitney Bank 8.00 % 12.86 % 13.05 % 13.24 % 13.67 % 13.57 % Tier 1 leverage capital Hancock Whitney Corporation 5.00 % 10.87 % 10.89 % 11.17 % 11.46 % 11.35 % Hancock Whitney Bank 5.00 % 10.59 % 10.69 % 10.84 % 11.11 % 11.02 % On April 30, 2026, our board of directors declared a regular quarterly common stock cash dividend of $0.50 per share. The quarterly common stock cash dividend was paid on June 15, 2026 to shareholders of record on June 5, 2026. The Company has paid uninterrupted dividends to its shareholders since 1967. In December 2025, our Board of Directors authorized a stock repurchase program, effective January 1, 2026, to repurchase up to 5% of the shares of common stock outstanding as of December 31, 2025, or 4.1 million shares. The authorization is set to expire on December 31, 2026. The shares may be repurchased in the open market, by block purchase, through accelerated share repurchase plans, in privately negotiated transactions or otherwise, in one or more transactions, from time to time, depending upon market conditions and other factors, and in accordance with applicable regulations of the Securities and Exchange Commission. The Company is not obligated to purchase any shares under this program and the repurchase authorization may be terminated or amended by the Board of Directors at any time prior to the expiration date. During the second quarter of 2026, the Company repurchased 712,966 shares under this program at an average price of $68.31 per share, inclusive of commissions. To date, 2,112,966 shares have been repurchased under this program. The Company has accrued an estimated excise tax liability on net share repurchases under this plan of $1.3 million at June 30, 2026. On March 19, 2026, the federal bank regulatory agencies requested comment on three proposals to modernize the regulatory capital framework for banks of all sizes. The proposals are intended to streamline capital requirements and better align regulatory capital with risk while maintaining the safety and soundness of the banking system. While the agencies anticipate that the amount of overall capital in the banking system will modestly decrease as a result of these proposals, they expect capital levels will still be substantially higher than they were before the 2008 financial crisis. In aggregate, the proposals would modestly reduce capital requirements for large banks and moderately reduce requirements for smaller banks, reflecting their more traditional lending activities. Comments on all three proposals were due by June 18, 2026, and there is not yet a proposed timeline for issuance of a final rule or an implementation date. The Company is in process of evaluating the proposed rules and, based on a preliminary estimate, expects the rules as proposed would have a favorable impact on our capital levels. BALANCE SHEET ANALYSIS Short-Term Investments Short-term investments are held so that funds are available to meet the cash flow needs of both borrowers and depositors. Short-term investments, including interest-bearing bank deposits and federal funds sold, totaled $515.1 million at June 30, 2026, up $291.4 million from March 31, 2026 and $382.8 million from December 31, 2025. Average short-term investments of $532.4 million for the second quarter of 2026 were up $92.9 million from the first quarter of 2026. Typically, the balance of short-term investments will change on a daily basis depending upon movement in customer loan and deposit accounts. Securities The purpose of the securities portfolio is to increase profitability, mitigate interest rate risk, provide liquidity and comply with regulatory pledging requirements. Our securities portfolio includes securities categorized as available for sale and held to maturity. Available for sale securities are carried at fair value and may be sold prior to maturity. Unrealized gains or losses on available for sale securities, net of deferred taxes, are recorded as accumulated other comprehensive income or loss in stockholders' equity. Investment in securities totaled $7.9 billion at June 30, 2026, down $136.7 million, or 2%, from March 31, 2026 and $203.4 million, or 3%, from December 31, 2025. The linked quarter decrease is primarily attributable to net paydowns and maturities, a portion of which was used to fund growth in the loan portfolio. The decrease from December 31, 2025 is also due to net paydowns and 56 Table of Contents maturities as well as the impact of the portfolio restructure described below. At June 30, 2026, securities available for sale totaled $6.0 billion and securities held to maturity totaled $1.9 billion. In January 2026, we executed a restructuring of the available for sale securities portfolio to enhance net interest income whereby we sold securities with an amortized cost of $1.5 billion and an average yield of 2.49% and reinvested the $1.4 billion of proceeds with the purchase of securities with an average yield of 4.35%. Our securities portfolio consists mainly of residential and commercial mortgage-backed securities and collateralized mortgage obligations that are issued or guaranteed by U.S. government agencies. We invest only in high quality investment grade securities with a targeted portfolio effective duration generally between two and five and a half years. At June 30, 2026, the average expected maturity of the portfolio was 5.44 years with an effective duration of 4.08 years and a nominal weighted-average yield of 3.26%. Under an immediate, parallel rate shock using increases of 100 bps and 200 bps, the effective durations would be 4.12 years and 4.09 years, respectively. At December 31, 2025, the average expected maturity of the portfolio was 5.18 years with an effective duration of 3.89 years and a nominal weighted-average yield of 2.87%. The changes in expected maturity, effective duration, and nominal weighted-average yield from December 31, 2025 were largely the result of the portfolio restructuring and reinvestment in the portfolio during the period. At June 30, 2026, approximately $387.8 million of our available for sale securities are hedged with $359.0 million in fair value hedges in order to provide protection and flexibility to reposition and/or reprice the portfolio, effectively reducing the duration (market price risk) on the hedged securities. Once effective, fair value hedges synthetically convert the notional amount of the hedged asset over the life of the hedge to a variable rate instrument that is indexed to the federal funds effective rate. At June 30, 2026, fair value hedges with notional amounts totaling $265.0 million are effective, with the remaining $94.0 million of notional amount effective beginning July 1, 2026. At the end of each reporting period, we evaluate the securities portfolio for credit loss. Based on our assessments, expected credit loss was not material for any period presented, and therefore no allowance for credit loss was recorded. Loans Total loans at June 30, 2026, were $24.6 billion, up $588.3 million, or 2%, from March 31, 2026 and $621.7 million, or 3%, from December 31, 2025. Linked-quarter, loan growth was largely driven by commercial non-real estate, healthcare and commercial real estate lending across multiple products. A more detailed discussion of loan portfolio activity follows. The following table shows the composition of our loan portfolio at each date indicated. June 30, March 31, December 31, September 30, June 30, ($ in thousands) 2026 2026 2025 2025 2025 Total loans: Commercial non-real estate $ 9,961,458 $ 9,710,891 $ 9,809,011 $ 9,680,597 $ 9,760,733 Commercial real estate - owner occupied 3,353,501 3,299,867 3,270,080 3,279,258 3,136,182 Total commercial and industrial 13,314,959 13,010,758 13,079,091 12,959,855 12,896,915 Commercial real estate - income producing 4,602,813 4,382,665 4,283,168 4,076,643 3,940,309 Construction and land development 1,405,454 1,320,224 1,239,086 1,197,305 1,219,514 Residential mortgages 3,909,076 3,950,154 4,016,917 4,027,600 4,057,307 Consumer 1,347,871 1,328,039 1,340,178 1,335,162 1,347,705 Total loans $ 24,580,173 $ 23,991,840 $ 23,958,440 $ 23,596,565 $ 23,461,750 Our commercial customer base is diversified over a range of industries. We lend mainly to middle-market and smaller commercial entities, although we do participate in larger shared-credit loan facilities generally with businesses/sponsors operating in our market areas that are well known to the relationship officers. Shared national credits outstanding at June 30, 2026 totaled approximately $2.4 billion, or 9.6% of total loans, up $323.1 million from December 31, 2025. At June 30, 2026, our largest industry concentrations in shared national credits included approximately $373 million in real estate rental and leasing, $336 million in finance and insurance, $259 million in manufacturing, $253 million in information, $226 million in healthcare and social assistance, and $207 million in professional, scientific and technical services, with the remainder of the balance in other diverse industries. Commercial and industrial (“C&I”) loans include both non-real estate and owner occupied real estate secured loans. C&I loans totaled $13.3 billion at June 30, 2026, up $304.2 million, or 2%, from March 31, 2026 and up $235.9 million, or 2%, from December 31, 2025, reflecting increased demand and upward momentum in loan production from our new bankers. Our C&I loan portfolio is well diversified by product, client, and geography throughout our footprint. Nevertheless, we may be exposed to certain concentrations of credit risk which exist in relation to different borrowers or groups of borrowers, specific types of 57 Table of Contents collateral, industries, loan products, or regions. The following table provides detail of the more significant industry concentrations for our commercial and industrial loan portfolio, which is based on NAICS codes for all industries, with the exception of energy, which is based on the borrower’s source of revenue (i.e. a manufacturer whose income is derived from energy-related business is reported as energy). June 30, March 31, December 31, September 30, June 30, 2026 2026 2025 2025 2025 Pct of Pct of Pct of Pct of Pct of ( $ in thousands ) Balance Total Balance Total Balance Total Balance Total Balance Total Commercial & industrial loans: Retail trade $ 1,325,319 10 % $ 1,359,013 10 % $ 1,419,299 11 % $ 1,400,293 11 % $ 1,327,530 10 % Manufacturing 1,311,163 10 % 1,283,699 10 % 1,226,962 9 % 1,216,813 9 % 1,178,187 9 % Real estate and rental and leasing 1,305,943 10 % 1,182,742 9 % 1,234,527 9 % 1,233,906 10 % 1,249,885 10 % Construction 1,191,837 9 % 1,146,822 9 % 1,122,921 9 % 1,100,770 8 % 993,338 8 % Health care and social assistance 1,180,868 9 % 1,202,190 9 % 1,306,170 10 % 1,306,684 10 % 1,376,655 11 % Professional, scientific, and technical services 1,083,280 8 % 907,315 7 % 852,169 7 % 818,290 6 % 796,817 6 % Wholesale trade 1,000,097 7 % 1,036,202 8 % 1,081,854 8 % 1,117,737 9 % 1,103,615 8 % Transportation and warehousing 936,355 7 % 905,738 7 % 945,011 7 % 976,880 8 % 986,952 8 % Accommodation, food services and entertainment 874,770 7 % 862,294 7 % 818,599 6 % 807,897 6 % 755,365 6 % Finance and insurance 626,326 5 % 619,065 5 % 646,171 5 % 593,798 5 % 676,691 5 % Information 537,924 4 % 485,724 4 % 465,971 4 % 461,178 4 % 453,154 3 % Other services (except public administration) 437,213 3 % 412,119 3 % 415,429 3 % 395,869 3 % 396,440 3 % Admin, support, waste mgmt, remediation services 355,343 3 % 331,121 2 % 338,693 3 % 325,086 2 % 336,566 3 % Public administration 310,671 2 % 332,887 3 % 348,545 3 % 358,704 3 % 366,942 3 % Educational services 218,496 2 % 220,118 2 % 236,273 2 % 235,165 2 % 242,677 2 % Energy 177,811 1 % 175,582 1 % 169,700 1 % 169,536 1 % 177,551 1 % Other 441,543 3 % 548,127 4 % 450,797 3 % 441,249 3 % 478,550 4 % Total commercial & industrial loans $ 13,314,959 100 % $ 13,010,758 100 % $ 13,079,091 100 % $ 12,959,855 100 % $ 12,896,915 100 % Commercial real estate - income producing loans totaled approximately $4.6 billion at June 30, 2026, up $220.1 million, or 5%, from March 31, 2026 and $319.6 million, or 7%, from December 31, 2025. Construction and land development loans totaled approximately $1.4 billion at June 30, 2026, up $85.2 million, or 6%, from March 31, 2026 and $166.4 million, or 13%, from December 31, 2025. The growth from both comparative periods reflect increased demand and early success in our organic growth plan. The following table details the end-of-period aggregated commercial real estate - income producing and construction loan balances by property type. Loans reflected in 1-4 family residential construction include both loans to construction builders as well as single family borrowers. June 30, March 31, December 31, September 30, June 30, 2026 2026 2025 2025 2025 Pct of Pct of Pct of Pct of Pct of ( $ in thousands ) Balance Total Balance Total Balance Total Balance Total Balance Total Commercial real estate - income producing and construction loans: Multifamily $ 1,704,377 29 % $ 1,554,277 27 % $ 1,438,509 26 % $ 1,397,370 26 % $ 1,401,521 27 % Healthcare related properties 977,983 16 % 884,819 16 % 812,712 15 % 650,448 12 % 641,735 12 % Retail 910,845 15 % 908,660 16 % 907,611 16 % 836,666 16 % 821,420 16 % Industrial 793,295 13 % 727,290 13 % 739,009 14 % 772,552 15 % 710,424 14 % Office 494,136 8 % 504,838 9 % 506,581 9 % 516,659 10 % 503,525 10 % Hotel, motel and restaurants 438,532 7 % 426,474 7 % 430,007 8 % 402,728 8 % 437,650 9 % 1-4 family residential construction 210,540 4 % 225,402 4 % 213,733 4 % 239,568 5 % 228,104 4 % Other land loans 186,744 3 % 191,134 3 % 181,170 3 % 174,048 3 % 169,303 3 % Other 291,815 5 % 279,995 5 % 292,922 5 % 283,909 5 % 246,141 5 % Total commercial real estate - income producing and construction loans $ 6,008,267 100 % $ 5,702,889 100 % $ 5,522,254 100 % $ 5,273,948 100 % $ 5,159,823 100 % The residential mortgage loan portfolio totaled $3.9 billion at June 30, 2026, down $41.1 million, or 1%, compared to March 31, 2026 and $107.8 million, or 3%, compared to December 31, 2025. The composition of the residential mortgage loan portfolio will depend on the volume of loans originated and the percentage ultimately sold in the secondary market. The consumer loan portfolio totaled $1.3 billion at June 30, 2026, up $19.8 million, or 1%, from March 31, 2026 and $7.7 million, or 1%, from December 31, 2025. Average loans for the second quarter of 2026 of $24.3 billion were up $373.9 million, or 2%, compared to the first quarter of 2026. Allowance for Credit Losses and Asset Quality Our allowance for credit losses was $348.0 million at June 30, 2026, an increase of $4.4 million from March 31, 2026, and is comprised of a $1.3 million increase in the allowance for loan losses and a $3.0 million increase in the reserve for unfunded lending commitments. The increase in the allowance for credit losses from March 31, 2026 is attributable to a $13.8 million provision for 58 Table of Contents credit losses, partially offset by $9.4 million of net charge-offs. Our overall credit loss outlook is not significantly different from that at March 31, 2026. Uncertainty remains related to geopolitical conflict and economic conditions, which continues to influence our reserve levels. The increase in the allowance for credit losses at June 30, 2026 compared to March 31, 2026 includes a $9.0 million build in our collectively evaluated reserves, commensurate with portfolio growth, partially offset by a decrease in individually evaluated reserves on problem loans of $4.6 million. The level of reserves on individually evaluated credits can vary from period to period based on instrument-specific circumstances. Our June 30, 2026 allowance for credit losses increased $6.3 million compared to December 31, 2025, and is comprised of a $4.8 million increase in the allowance for loan losses and a $1.5 million increase in the reserve for unfunded lending commitments. The increase in the allowance for credit losses from December 31, 2025 is attributable to a $26.9 million provision for credit losses, partially offset by $20.6 million of net charge-offs. The net increase in the allowance for credit losses compared to December 31, 2025 was largely due to portfolio growth and was concentrated in the commercial portfolio, partially offset by declines in residential mortgage and consumer portfolios. We utilized the June 2026 Moody's economic scenarios in our allowance for credit losses calculation at June 30, 2026. After considering the variables underlying each of the Moody's economic scenarios, management probability-weighted both the baseline scenario and the downside S-2 mild recessionary scenario at 50% in the computation of the allowance for credit losses at June 30, 2026, compared to probability-weighting the baseline scenario at 40% and the downside S-2 mild recessionary scenario at 60% in the computation of the allowance for credit losses at March 31, 2026. The change in the probability weightings from those used at March 31, 2026 does not indicate a significant shift in our overall credit loss outlook, but rather, is a response to a shift in the assumptions underlying the baseline forecast to reflect the downside risks of the conflict in Iran, which were not reflected in the March 2026 Moody's forecast scenarios. Each of the scenarios considered have varying degrees of severity and duration of impacts to forecasted market conditions, economic indicators, monetary and other governmental policies and geopolitical conditions, among other variables. Refer to the Economic Outlook section of this discussion and analysis for further information on the Moody’s scenarios and our weighting assumptions. Our allowance for credit losses coverage to total loans was 1.42% at June 30, 2026, compared to 1.43% at both March 31, 2026 and December 31, 2025. The allowance for credit losses on the commercial portfolio totaled $280.6 million, or 1.45% of that portfolio, at June 30, 2026, compared to $276.6 million, or 1.48%, at March 31, 2026. The allowance for credit losses on the residential mortgage portfolio totaled $42.3 million, or 1.08% of that portfolio, at June 30, 2026, compared to $41.6 million, or 1.05%, at March 31, 2026. The allowance for credit losses on the consumer portfolio totaled $25.2 million, or 1.87% of that portfolio, at June 30, 2026, compared to $25.6 million, or 1.92%, at March 31, 2026. Criticized commercial loans totaled $492.0 million at June 30, 2026, down $30.2 million, or 6%, from $522.2 million at March 31, 2026, and $43.4 million, or 8%, from $535.4 million at December 31, 2025. Criticized loans are defined as those having potential weaknesses that deserve management’s close attention (risk-rated as special mention, substandard and doubtful), including both accruing and nonaccruing loans. The Company routinely assesses the ratings of loans in its portfolio through an established and comprehensive portfolio management process. In addition, the Company often reviews portfolios of loans to determine if there are areas of risk not specifically identified in its loan by loan approach. Criticized commercial loans comprised 2.55% of that portfolio at June 30, 2026, down from 2.79% at March 31, 2026 and from 2.88% at December 31, 2025. We remain focused on identifying specific and broader risk indicators that may be impacting certain segments in our portfolio, and we have not seen signs of significant weakening in any particular industry, sector or geographic segment beyond what we believe has been experienced by the banking industry as a whole. Our criticized commercial loans at June 30, 2026 are diversified across many industries, with the largest concentrations as follows: $86.5 million in real estate, rental and leasing; $72.1 million in accommodation, food service and entertainment; $70.0 million in healthcare and social assistance; $67.3 million in retail trade; $54.0 million in manufacturing; $46.0 million in transportation and warehousing; and $27.7 million in wholesale trade. Commercial loans risk rated pass-watch totaled $457.2 million at June 30, 2026, down $93.5 million, or 17%, from March 31, 2026, and $157.6 million, or 26%, from December 31, 2025. The pass-watch risk rating includes credits with performance trends that reflect sufficient risk to cause concern but have not risen to the level of criticized. Net charge-offs were $9.4 million, or 0.16% of average total loans on an annualized basis in the second quarter of 2026, compared to $11.1 million, or 0.19% of average total loans on an annualized basis in the first quarter of 2026. Net charge-offs in the second quarter of 2026 included $6.6 million in the commercial portfolio, $2.7 million in the consumer portfolio and $0.1 million in the residential mortgage portfolio. Net charge-offs in the first quarter of 2026 included $7.4 million in the commercial portfolio, $3.5 million in the consumer portfolio and $0.2 million in the residential mortgage portfolio. 59 Table of Contents The following table provides a rollforward of the allowance for credit losses, coverage ratios and net charge-off ratios for the periods indicated. Three Months Ended Six Months Ended June 30, March 31, June 30, June 30, ($ in thousands) 2026 2026 2025 2026 2025 Provision and Allowance for Credit Losses Allowance for loan losses: Allowance for loan losses at beginning of period $ 311,316 $ 307,731 $ 318,119 $ 307,731 $ 318,882 Loans charged-off: Commercial non real estate 8,354 8,506 18,352 16,860 24,484 Commercial real estate - owner-occupied — 8 — 8 2,741 Total commercial & industrial 8,354 8,514 18,352 16,868 27,225 Commercial real estate - income producing — — — — 34 Construction and land development 29 219 25 248 33 Total commercial 8,383 8,733 18,377 17,116 27,292 Residential mortgages 281 250 262 531 429 Consumer 3,517 4,410 3,689 7,927 7,900 Total charge-offs 12,181 13,393 22,328 25,574 35,621 Recoveries of loans previously charged-off: Commercial non real estate 1,561 1,123 3,392 2,684 5,042 Commercial real estate - owner-occupied 190 142 268 332 363 Total commercial & industrial 1,751 1,265 3,660 3,016 5,405 Commercial real estate - income producing 3 3 — 6 — Construction and land development 1 1 13 2 123 Total commercial 1,755 1,269 3,673 3,024 5,528 Residential mortgages 132 71 66 203 453 Consumer 851 917 803 1,768 1,607 Total recoveries 2,738 2,257 4,542 4,995 7,588 Total net charge-offs 9,443 11,136 17,786 20,579 28,033 Provision for loan losses 10,735 14,721 12,856 25,456 22,340 Allowance for loan losses at end of period $ 312,608 $ 311,316 $ 313,189 $ 312,608 $ 313,189 Reserve for Unfunded Lending Commitments: Reserve for unfunded lending commitments at beginning of period $ 32,379 $ 33,928 $ 25,031 $ 33,928 $ 24,053 Provision for losses on unfunded lending commitments 3,040 (1,549 ) 2,069 1,491 3,047 Reserve for unfunded lending commitments at end of period $ 35,419 $ 32,379 $ 27,100 $ 35,419 $ 27,100 Total Allowance for Credit Losses $ 348,027 $ 343,695 $ 340,289 $ 348,027 $ 340,289 Total Provision for Credit Losses $ 13,775 $ 13,172 $ 14,925 $ 26,947 $ 25,387 Coverage Ratios: Allowance for loan losses to period-end loans 1.27 % 1.30 % 1.33 % 1.27 % 1.33 % Allowance for credit losses to period-end loans 1.42 % 1.43 % 1.45 % 1.42 % 1.45 % Charge-offs ratios: Gross charge-offs to average loans 0.20 % 0.23 % 0.39 % 0.21 % 0.31 % Recoveries to average loans 0.05 % 0.04 % 0.08 % 0.04 % 0.07 % Net charge-offs to average loans 0.16 % 0.19 % 0.31 % 0.17 % 0.24 % Net Charge-offs to average loans by portfolio Commercial non real estate 0.27 % 0.31 % 0.62 % 0.29 % 0.41 % Commercial real estate - owner-occupied (0.02 )% (0.02 )% (0.04 )% (0.02 )% 0.16 % Total commercial & industrial 0.20 % 0.22 % 0.46 % 0.21 % 0.35 % Commercial real estate - income producing (0.00 )% (0.00 )% 0.00 % (0.00 )% 0.00 % Construction and land development 0.01 % 0.07 % 0.00 % 0.04 % (0.01 )% Total commercial 0.14 % 0.16 % 0.33 % 0.15 % 0.25 % Residential mortgages 0.02 % 0.02 % 0.02 % 0.02 % (0.00 )% Consumer 0.80 % 1.06 % 0.87 % 0.93 % 0.95 % The following table sets forth for the periods indicated nonaccrual loans and reportable loan modifications to borrowers experiencing financial difficulty by type, and foreclosed and surplus ORE and other foreclosed assets. The table also includes loans past due 90 days or more and still accruing. 60 Table of Contents June 30, March 31, December 31, September 30, June 30, ($ in thousands) 2026 2026 2025 2025 2025 Loans accounted for on a nonaccrual basis: Commercial non-real estate $ 33,611 $ 31,949 $ 29,678 $ 39,108 $ 20,196 Commercial non-real estate - modified 6,594 9,432 4,847 8,084 11,710 Total commercial non-real estate 40,205 41,381 34,525 47,192 31,906 Commercial real estate - owner occupied 6,729 5,699 6,482 6,667 3,237 Commercial real estate - owner-occupied - modified 223 231 241 341 352 Total commercial real estate - owner-occupied 6,952 5,930 6,723 7,008 3,589 Commercial real estate - income producing 2,301 2,010 4,760 4,782 5,094 Commercial real estate - income producing - modified — — — — 841 Total commercial real estate - income producing 2,301 2,010 4,760 4,782 5,935 Construction and land development 1,019 1,028 3,173 3,281 1,932 Construction and land development - modified 147 — — — — Total construction and land development 1,166 1,028 3,173 3,281 1,932 Residential mortgage 47,085 46,786 46,399 40,284 41,122 Residential mortgage - modified 4,423 4,476 587 742 178 Total residential mortgage 51,508 51,262 46,986 41,026 41,300 Consumer 11,550 11,584 10,555 10,115 10,260 Consumer - modified — 148 148 150 — Total consumer 11,550 11,732 10,703 10,265 10,260 Total nonaccrual loans $ 113,682 $ 113,343 $ 106,870 $ 113,554 $ 94,922 ORE and foreclosed assets 12,858 11,257 14,788 11,140 26,847 Total nonaccrual loans and ORE and foreclosed assets $ 126,540 $ 124,600 $ 121,658 $ 124,694 $ 121,769 Modified loans - still accruing: Commercial non-real estate $ 94,006 $ 78,225 $ 98,468 $ 65,284 $ 45,123 Commercial real estate - owner occupied 31,546 28,697 28,698 — — Commercial real estate - income producing 10,668 13,957 14,914 — 1,846 Construction and land development — 147 147 — — Residential mortgage 6,401 7,203 14,572 16,891 15,265 Consumer 277 251 227 43 — Total modified loans - still accruing $ 142,898 $ 128,480 $ 157,026 $ 82,218 $ 62,234 Total reportable modified loans $ 154,285 $ 142,767 $ 162,849 $ 91,535 $ 75,315 Loans 90 days past due still accruing $ 27,753 $ 29,885 $ 28,798 $ 24,576 $ 58,702 Ratios: Nonaccrual loans to total loans 0.46 % 0.47 % 0.45 % 0.48 % 0.40 % Nonaccrual loans plus ORE and foreclosed assets to loans plus ORE and foreclosed assets 0.51 % 0.52 % 0.51 % 0.53 % 0.52 % Allowance for loan losses to nonaccrual loans 274.99 % 274.67 % 287.95 % 276.20 % 329.94 % Allowance for loan losses to nonaccrual loans and accruing loans 90 days past due 221.03 % 217.36 % 226.83 % 227.06 % 203.87 % Loans 90 days past due still accruing to loans 0.11 % 0.12 % 0.12 % 0.10 % 0.25 % Nonaccrual loans plus ORE and foreclosed assets totaled $126.5 million at June 30, 2026, up $1.9 million from March 31, 2026 and $4.9 million from December 31, 2025. Nonaccrual loans of $113.7 million were up $0.3 million from March 31, 2026, and $6.8 million from December 31, 2025. The ratio of nonaccrual loans to total loans remains relatively low at 0.46% of the total portfolio. ORE and foreclosed assets were $12.9 million at June 30, 2026, up $1.6 million from March 31, 2026 and down $1.9 million from December 31, 2025. Nonaccrual loans plus ORE and other foreclosed assets as a percentage of total loans, ORE and other foreclosed assets was 0.51% at June 30, 2026. Deposits Deposits provide the most significant source of funding for our interest earning assets. Generally, our ability to compete for market share depends on our deposit pricing and our wide range of products and services that are focused on customer needs, among other factors. We offer high-quality banking services with convenient delivery channels, including online and mobile banking. We provide specialized services to our commercial customers to promote commercial deposit growth. These services include treasury management, industry expertise and lockbox services. Lack of diversity in concentration within a deposit base may increase the risk of events or trends that could prompt a larger-scale demand for deposits outflow. Concerns over a financial institution's ability to protect deposit balances in excess of the federally insured limit may increase the risk of a deposit run. We consider our deposit base to be seasoned, stable and well-diversified. We also offer our customers an insured cash sweep product (ICS) that allows customers to secure deposits above FDIC insured limits. We continue to see demand for the ICS product, with the balance totaling $263.3 million at June 30, 2026, compared to $326.6 million at March 31, 2026 and $322.2 million at December 31, 2025. At June 30, 2026, we have calculated our average deposit account size by dividing period-end deposits by the population of accounts with balances to be approximately $38,200, which includes $212,200 in 61 Table of Contents our commercial and small business lines (excluding public funds), $118,000 in our wealth management business line, and $17,900 in our consumer business line. Further, at June 30, 2026, our sources of liquidity exceed uninsured deposits. We have estimated the Bank’s amount of uninsured deposits using the methodologies and assumptions required for FDIC regulatory reporting to be approximately $15.5 billion at June 30, 2026. Our uninsured deposit total at June 30, 2026, includes approximately $3.2 billion of public funds that have pledged securities as collateral, leaving approximately $12.4 billion of noncollateralized, uninsured deposits compared to total liquidity of $19.5 billion. Our ratio of noncollateralized, uninsured deposits to total deposits was approximately 41.8% at June 30, 2026, compared to 39.2% at March 31, 2026 and 38.6% at December 31, 2025. Total deposits were $29.6 billion at June 30, 2026, up $547.6 million, or 2%, from March 31, 2026 and $350.0 million, or 1%, from December 31, 2025, due primarily to growth in transaction and savings deposits that was partially offset by retail time deposit maturities and typical seasonal movement in public funds deposits. Average deposits for the second quarter of 2026 were $28.8 billion, down $53.8 million, or less than 1%, from the first quarter of 2026. The following table shows the composition of our deposits at each date indicated. June 30, March 31, December 31, September 30, June 30, ($ in thousands) 2026 2026 2025 2025 2025 Noninterest-bearing deposits $ 10,336,866 $ 10,344,878 $ 10,374,991 $ 10,305,303 $ 10,638,785 Interest-bearing retail transaction and savings deposits 13,044,253 12,259,441 11,998,892 11,776,338 11,498,300 Interest-bearing public fund deposits: Public fund transaction and savings deposits 2,786,086 2,833,149 3,120,389 2,706,540 2,902,513 Public fund time deposits 94,251 104,132 96,925 93,417 83,472 Total interest-bearing public fund deposits 2,880,337 2,937,281 3,217,314 2,799,957 2,985,985 Retail time deposits 3,368,304 3,540,534 3,688,577 3,778,152 3,923,542 Brokered time deposits — — — — — Total interest-bearing deposits 19,292,894 18,737,256 18,904,783 18,354,447 18,407,827 Total deposits $ 29,629,760 $ 29,082,134 $ 29,279,774 $ 28,659,750 $ 29,046,612 Noninterest-bearing demand deposits totaled $10.3 billion at June 30, 2026, down $8.0 million, or less than 1%, from March 31, 2026 and $38.1 million, or less than 1%, from December 31, 2025. Noninterest-bearing demand deposits comprised 35% of total deposits at June 30, 2026, compared to 36% at March 31, 2026 and 35% in December 31, 2025. Interest-bearing transaction and savings accounts totaled $13.0 billion at June 30, 2026, up $784.8 million, or 6%, from March 31, 2026 and up $1.0 billion, or 9%, from December 31, 2025, reflective of growth and shifting in mix within interest-bearing deposits, driven in part by promotional money market product offerings to new and certain existing customers. Interest-bearing public fund deposits totaled $2.9 billion at June 30, 2026, down $56.9 million, or 2%, from March 31, 2026, and down $337.0 million, or 10%, from December 31, 2025, mostly attributable to seasonal outflows. Retail time deposits totaled $3.4 billion at June 30, 2026, down $172.2 million, or 5%, from March 31, 2026, and $320.3 million, or 9%, from December 31, 2025. The decline in retail time deposits is mostly attributable to maturities that did not renew, reflective of the interest rate environment. We had no brokered time deposits at June 30, 2026, March 31, 2026 or December 31, 2025. The Company uses brokered deposits as one component of its funding strategy, subject to certain policies regarding the amount, term and interest rate. The rate paid on interest-bearing deposits for the second quarter of 2026 was 2.20%, down 5 bps from 2.25% in the first quarter of 2026, reflective of the interest rate environment and product pricing, both of which may have fostered a favorable shift in the mix of interest-bearing deposits. Rates paid on deposits will vary based on prevailing interest rates and promotional rate offerings on the various product types. The following table sets forth average balances and weighted-average rates paid on deposits for the second and first quarters of 2026 and the second quarter of 2025. 62 Table of Contents Three months ended June 30, 2026 March 31, 2026 June 30, 2025 ($ in millions) Balance Rate Mix Balance Rate Mix Balance Rate Mix Interest-bearing deposits: Interest-bearing transaction deposits $ 3,242.0 1.27 % 11.3 % $ 3,107.2 1.21 % 10.8 % $ 2,840.7 1.37 % 9.9 % Money market deposits 6,859.4 2.43 23.8 6,708.9 2.41 23.3 6,380.4 2.90 22.2 Savings deposits 2,303.9 1.04 8.0 2,232.7 0.94 7.7 2,138.8 0.72 7.5 Time deposits 3,420.7 3.11 11.9 3,631.8 3.36 12.6 4,026.4 3.58 14.1 Public Funds 2,850.9 2.57 9.9 3,121.1 2.60 10.8 2,946.2 3.01 10.3 Total interest-bearing deposits 18,676.9 2.20 % 64.9 18,801.7 2.25 % 65.2 18,332.5 2.58 % 64.0 Noninterest-bearing demand deposits 10,104.0 35.1 10,033.0 34.8 10,317.4 36.0 Total deposits $ 28,780.9 100.0 % $ 28,834.7 100.0 % $ 28,649.9 100.0 % The following sets forth the maturities of time certificates of deposit greater than $250,000 at June 30, 2026. June 30, ($ in thousands) 2026 Three months $ 596,987 Over three months through six months 407,860 Over six months through one year 316,572 Over one year 10,363 Total $ 1,331,782 Short-Term Borrowings At June 30, 2026, short-term borrowings totaled $1.6 billion, up $210.5 million from March 31, 2026 and $553.7 million from December 31, 2025, driven primarily by FHLB borrowings and reflective of funding needs for the quarter. Average short-term borrowings of $2.0 billion in the second quarter of 2026 were up $553.9 million from the first quarter of 2026. Short-term borrowings are a core portion of the Company’s funding strategy and can fluctuate depending on our funding needs and the sources utilized. Customer repurchase agreements and borrowings from the Federal Home Loan Bank (FHLB) are the major sources of short-term borrowings. Customer repurchase agreements are offered mainly to commercial customers to assist them with their cash management strategies or to provide a temporary investment vehicle for their excess liquidity pending redeployment for corporate or investment purposes. While customer repurchase agreements provide a recurring source of funds to the Bank, amounts available will vary. FHLB borrowings are collateralized by certain residential mortgage and commercial real estate loans included in the Bank’s loan portfolio, subject to specific criteria. FHLB borrowings totaled $950 million at June 30, 2026 compared to $700 million at March 31, 2026 and $400 million at December 31, 2025. Long-Term Debt Long-term debt totaled $193.8 million at June 30, 2026, virtually unchanged from March 31, 2026 and down $5.6 million, or 3%, from December 31, 2025, due to tax credit entity activity. Long-term debt at June 30, 2026 includes subordinated notes payable with an aggregate principal amount of $172.5 million, a stated maturity of June 15, 2060, and a fixed rate of 6.25% per annum that qualify as Tier 2 capital of certain regulatory capital ratios. Subject to prior approval by the Federal Reserve, the Company may redeem these notes in whole or in part on any of its quarterly interest payment dates. OFF-BALANCE SHEET ARRANGEMENTS Loan Commitments and Letters of Credit In the normal course of business, the Bank enters into financial instruments, such as commitments to extend credit and letters of credit, to meet the financing needs of its customers. Such instruments are not reflected in the accompanying consolidated financial statements until they are funded, although they expose the Bank to varying degrees of credit risk and interest rate risk in much the same way as funded loans. Under regulatory capital guidelines, the Company and Bank must include unfunded commitments meeting certain criteria in risk-weighted capital calculations. Commitments to extend credit include revolving commercial credit lines, non-revolving loan commitments issued mainly to finance the acquisition and development or construction of real property or equipment, and credit card and personal credit lines. The 63 Table of Contents availability of funds under commercial credit lines and loan commitments generally depends on whether the borrower continues to meet credit standards established in the underlying contract and other contractual conditions. Loan commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee by the borrower. Credit card and personal credit lines are generally subject to cancellation if the borrower’s credit quality deteriorates. A number of commercial and personal credit lines are used only partially or, in some cases, not at all before they expire, and the total commitment amounts do not necessarily represent our future cash requirements. A substantial majority of the letters of credit are standby agreements that obligate the Bank to fulfill a customer’s financial commitments to a third party if the customer is unable to perform. The Bank issues standby letters of credit primarily to provide credit enhancement to its customers’ other commercial or public financing arrangements and to help them demonstrate financial capacity to vendors of essential goods and services. The contractual amounts of these instruments reflect our exposure to credit risk. The Bank undertakes the same credit evaluation in making loan commitments and assuming conditional obligations as it does for on-balance sheet instruments and may require collateral or other credit support. At June 30, 2026, the Company had a reserve for credit losses on unfunded lending commitments totaling $35.4 million. The following table shows the commitments to extend credit and letters of credit at June 30, 2026 according to expiration date. Expiration Date Less than 1-3 3-5 More than ($ in thousands) Total 1 year years years 5 years Commitments to extend credit $ 9,802,066 $ 4,282,000 $ 2,506,710 $ 2,276,695 $ 736,661 Letters of credit 401,189 331,550 65,183 4,456 — Total $ 10,203,255 $ 4,613,550 $ 2,571,893 $ 2,281,151 $ 736,661 CRITICAL ACCOUNTING POLICIES AND ESTIMATES There were no material changes or developments during the reporting period with respect to methodologies that the Company uses when applying what management believes are critical accounting policies and developing critical accounting estimates as disclosed in its Annual Report on Form 10-K for the year ended December 31, 2025. The consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America and with those generally practiced within the banking industry which require management to make estimates and assumptions about future events. Estimates are based on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, and the resulting estimates form the basis for making judgments about the carrying values of certain assets and liabilities not readily apparent from other sources. Actual results could differ significantly from those estimates. NEW ACCOUNTING PRONOUNCEMENTS Refer to Note 16 to our consolidated financial statements included elsewhere in this report.