The following discussion and analysis of the Company’s financial condition and results of operations for the three and six months ended June 30, 2026 and 2025 should be read in conjunction with its audited consolidated financial statements and the related notes to the consolidated financial statements included in the 2025 Form 10-K. Operating results for the three and six months ended June 30, 2026 are not necessarily indicative of the results for the year ending December 31, 2026 or any future period. Forward-Looking Statements This report contains “forward-looking statements” within the meaning of and pursuant to the Private Securities Litigation Reform Act of 1995 regarding, among other things, the Company’s financial condition, results of operations, business plans and future performance. These statements are not historical in nature and may often be identified by the use of words such as “believes,” “projects,” “expects,” “may,” “estimates,” “should,” “plans,” “targets,” “intends” “could,” “would,” “anticipates,” “potential,” “confident,” “optimistic” or the negative thereof, or other variations thereon, or comparable terminology, or by discussions of strategy, objectives, estimates, trends, guidance, expectations and future plans. Because forward-looking statements relate to future results and occurrences, they are subject to inherent and various uncertainties, risks, and changes in circumstances that are difficult to predict, may change over time, are based on management’s expectations and assumptions at the time the statements are made and are not guarantees of future results. Numerous risks and other factors, many of which are beyond management’s control, could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. While there can be no assurance that any list of risks is complete, important risks and other factors that could cause actual results to differ materially from those contemplated by forward-looking statements include, but are not limited to: economic or business conditions in Texas, the United States or globally that impact TCBI or its customers; negative credit quality developments arising from the foregoing or other factors, including trade policies, geopolitical conflicts, inflation, including increased energy costs, unemployment rates and interest rates; TCBI’s ability to innovate, to anticipate the needs of our current and future customers and to manage increased or expanded competition from banks and other financial service providers in TCBI’s markets; TCBI’s ability to effectively manage its liquidity and maintain adequate regulatory capital to support its businesses; TCBI’s ability to pursue and execute upon growth plans, whether as a function of capital, liquidity or other limitations; TCBI’s ability to successfully execute its business strategy, including its strategic plan and developing and executing new lines of business, products and services; risks related to potential strategic acquisitions, including the risk that TCBI may not be able to consummate acquisitions on favorable terms, if at all, and the risk that TCBI may not realize the anticipated benefits from acquisitions; the extensive regulations to which TCBI is subject and its ability to comply with applicable governmental regulations, including legislative and regulatory changes; TCBI’s ability to effectively manage information technology systems, including third party vendors, cyber or data privacy incidents or other failures, outages, disruptions or security breaches; TCBI’s ability to use technology to provide products and services to its customers; risks related to the development and use of artificial intelligence; changes in interest rates, including the impact of interest rates on TCBI’s securities portfolio and funding costs, as well as related balance sheet implications stemming from the fair value of our assets and liabilities; the effectiveness of TCBI’s risk management processes strategies and monitoring; fluctuations in commercial and residential real estate values, especially as they relate to the value of collateral supporting TCBI’s loans; TCBI’s ability to manage any unexpected outflows of uninsured deposits and avoid selling investment securities or other assets at an unfavorable time or at a loss; adverse developments in the banking industry and the potential impact of such developments on customer confidence, liquidity and regulatory responses to these developments, including in the context of regulatory examinations and related findings and actions; negative press and social media attention with respect to the banking industry or TCBI, in particular; claims, litigation or regulatory investigations and actions that TCBI may become subject to; the failure to identify, attract and retain key personnel and other employees and to engage in adequate succession planning; severe weather, natural disasters, climate change, acts of war, terrorism, global or other geopolitical conflicts, or other external events, as well as related legislative and regulatory initiatives; and the risks and factors more fully described in TCBI’s most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other documents and filings with the SEC. The information contained in this communication speaks only as of its date. Except to the extent required by applicable law or regulation, we disclaim any obligation to update such factors or to publicly announce the results of any revisions to any of the forward-looking statements included herein to reflect future events or developments. 24 Table of Contents Results of Operations Selected income statement data and key performance indicators are presented in the table below: Three Months Ended June 30, Six Months Ended June 30, (dollars in thousands except per share data) 2026 2025 2026 2025 Net interest income $ 260,377 $ 253,395 $ 515,096 $ 489,429 Provision for credit losses 18,000 15,000 34,000 32,000 Non-interest income 75,118 54,069 144,384 98,513 Non-interest expense 205,493 190,276 419,061 393,296 Income before income taxes 112,002 102,188 206,419 162,646 Income tax expense 27,054 24,860 47,683 38,271 Net income 84,948 77,328 158,736 124,375 Preferred stock dividends 4,312 4,312 8,625 8,625 Net income available to common stockholders $ 80,636 $ 73,016 $ 150,111 $ 115,750 Basic earnings per common share $ 1.85 $ 1.59 $ 3.42 $ 2.52 Diluted earnings per common share $ 1.83 $ 1.58 $ 3.39 $ 2.49 Net interest margin 3.28 % 3.35 % 3.35 % 3.27 % Return on average assets (“ROA”) 1.03 % 0.99 % 0.99 % 0.80 % Return on average common equity (“ROE”) 9.56 % 9.17 % 8.96 % 7.40 % Efficiency ratio(1) 61.3 % 61.9 % 63.5 % 66.9 % Non-interest income to average earning assets 0.95 % 0.72 % 0.94 % 0.66 % Non-interest expense to average earning assets 2.59 % 2.52 % 2.72 % 2.63 % (1) Non-interest expense divided by the sum of net interest income and non-interest income. Three months ended June 30, 2026 compared to three months ended June 30, 2025 The Company reported net income of $84.9 million and net income available to common stockholders of $80.6 million for the second quarter of 2026, compared to net income of $77.3 million and net income available to common stockholders of $73.0 million for the second quarter of 2025. On a fully diluted basis, earnings per common share was $1.83 for the second quarter of 2026, compared to $1.58 for the same period in 2025. ROE was 9.56% and ROA was 1.03% for the second quarter of 2026, compared to 9.17% and 0.99%, respectively, for the same period in 2025. The increase in net income for the second quarter of 2026 compared to the second quarter of 2025 resulted primarily from increases in net interest income and non-interest income, partially offset by an increase in non-interest expense. Six months ended June 30, 2026 compared to six months ended June 30, 2025 The Company reported net income of $158.7 million and net income available to common stockholders of $150.1 million for the six months ended June 30, 2026, compared to net income of $124.4 million and net income available to common stockholders of $115.8 million for the same period in 2025. On a fully diluted basis, earnings per common share was $3.39 for the six months ended June 30, 2026, compared to $2.49 for the same period in 2025. ROE was 8.96% and ROA was 0.99% for the six months ended June 30, 2026, compared to 7.40% and 0.80%, respectively, for the same period in 2025. The increase in net income for the six months ended June 30, 2026 compared to the same period in 2025 resulted primarily from increases in net interest income and non-interest income, partially offset by an increase in non-interest expense. Details of the changes in the various components of net income are discussed below. 25 Table of Contents Taxable Equivalent Net Interest Income Analysis - Quarterly(1) Three Months Ended June 30, 2026 Three Months Ended June 30, 2025 (dollars in thousands) Average Balance Income/ Expense Yield/ Rate Average Balance Income/ Expense Yield/ Rate Assets Debt and equity securities(2) $ 4,544,249 $ 46,317 4.03 % $ 4,573,164 $ 45,999 3.93 % Interest bearing cash and cash equivalents 2,777,654 25,207 3.64 % 2,661,037 29,218 4.40 % Loans held for sale(3) 3,080 4 0.54 % — — — % Loans held for investment, mortgage finance 6,309,596 63,862 4.06 % 5,327,559 58,707 4.42 % Loans held for investment(3) 18,490,750 305,403 6.62 % 18,018,626 306,142 6.81 % Less: Allowance for credit losses on loans 271,925 — — 278,035 — — Loans held for investment, net 24,528,421 369,265 6.04 % 23,068,150 364,849 6.34 % Total earning assets 31,853,404 440,793 5.54 % 30,302,351 440,066 5.80 % Cash and other assets 1,190,251 1,117,118 Total assets $ 33,043,655 $ 31,419,469 Liabilities and Stockholders’ Equity Transaction deposits $ 2,762,965 $ 16,865 2.45 % $ 2,213,037 $ 13,731 2.49 % Savings deposits 13,902,996 118,592 3.42 % 13,727,095 134,272 3.92 % Time deposits 3,172,354 31,570 3.99 % 2,361,525 26,795 4.55 % Total interest bearing deposits 19,838,315 167,027 3.38 % 18,301,657 174,798 3.83 % Short-term borrowings 378,022 3,552 3.77 % 306,176 3,444 4.51 % Long-term debt 642,689 8,974 5.60 % 649,469 7,930 4.90 % Total interest bearing liabilities 20,859,026 179,553 3.45 % 19,257,302 186,172 3.88 % Non-interest bearing deposits 8,058,149 8,191,402 Other liabilities 442,543 475,724 Stockholders’ equity 3,683,937 3,495,041 Total liabilities and stockholders’ equity $ 33,043,655 $ 31,419,469 Net interest income $ 261,240 $ 253,894 Net interest margin 3.28 % 3.35 % (1)Taxable equivalent rates used where applicable. (2)Yields are calculated using available-for-sale debt securities at amortized cost. (3)Average balances include non-accrual loans. 26 Table of Contents Taxable Equivalent Net Interest Income Analysis - Year to Date(1) Six Months Ended June 30, 2026 Six Months Ended June 30, 2025 (dollars in thousands) Average Balance Revenue / Expense Yield / Rate Average Balance Revenue / Expense Yield / Rate Assets Debt and equity securities(2) $ 4,589,608 $ 95,915 4.17 % $ 4,518,822 $ 92,564 4.01 % Interest bearing cash and cash equivalents 2,599,575 46,691 3.62 % 3,454,011 75,792 4.43 % Loans held for sale(3) 3,088 4 0.27 % 167 2 2.97 % Loans held for investment, mortgage finance 5,777,306 115,435 4.03 % 4,653,577 97,234 4.21 % Loans held for investment(3) 18,332,470 602,755 6.63 % 17,774,206 602,233 6.83 % Less: Allowance for credit losses on loans 270,183 — — % 275,411 — — % Loans held for investment, net 23,839,593 718,190 6.08 % 22,152,372 699,467 6.37 % Total earning assets 31,031,864 860,800 5.58 % 30,125,372 867,825 5.78 % Cash and other assets 1,182,119 1,137,040 Total assets $ 32,213,983 $ 31,262,412 Liabilities and Stockholders’ Equity Transaction deposits $ 2,684,858 $ 31,845 2.39 % $ 2,188,282 $ 27,639 2.55 % Savings deposits 14,024,838 237,287 3.41 % 13,543,190 267,849 3.99 % Time deposits 2,599,737 51,799 4.02 % 2,345,543 54,246 4.66 % Total interest bearing deposits 19,309,433 320,931 3.35 % 18,077,015 349,734 3.90 % Short-term borrowings 318,337 5,912 3.75 % 527,608 11,690 4.47 % Long-term debt 659,143 17,085 5.23 % 654,927 16,003 4.93 % Total interest bearing liabilities 20,286,913 343,928 3.42 % 19,259,550 377,427 3.95 % Non-interest bearing deposits 7,775,520 8,034,196 Other liabilities 472,623 513,728 Stockholders’ equity 3,678,927 3,454,938 Total liabilities and stockholders’ equity $ 32,213,983 $ 31,262,412 Net interest income $ 516,872 $ 490,398 Net interest margin 3.35 % 3.27 % (1)Taxable equivalent rates used where applicable. (2)Yields are calculated using available-for-sale debt securities at amortized cost. (3)Average balances include non-accrual loans. 27 Table of Contents Volume/Rate Analysis The following table presents the changes in taxable equivalent net interest income and identifies the changes due to differences in the average volume of earning assets and interest bearing liabilities and the changes due to differences in the average interest rate on those assets and liabilities. Three Months Ended June 30, Six Months Ended June 30, 2026/2025 2026/2025 Net Change Change Due To(1) Net Change Change Due To(1) (in thousands) Volume Yield/Rate(2) Volume Yield/Rate(2) Interest income Debt and equity securities $ 318 $ (283) $ 601 $ 3,351 $ 1,408 $ 1,943 Interest bearing cash and cash equivalents (4,011) 1,279 (5,290) (29,101) (18,770) (10,331) Loans held for sale 4 — 4 2 43 (41) Loans held for investment, mortgage finance 5,155 10,822 (5,667) 18,201 23,460 (5,259) Loans held for investment (739) 8,016 (8,755) 522 18,908 (18,386) Total interest income 727 19,834 (19,107) (7,025) 25,049 (32,074) Interest expense Transaction deposits 3,134 3,414 (280) 4,206 6,279 (2,073) Savings deposits (15,680) 1,719 (17,399) (30,562) 9,530 (40,092) Time deposits 4,775 9,198 (4,423) (2,447) 5,874 (8,321) Short-term borrowings 108 808 (700) (5,778) (4,639) (1,139) Long-term debt 1,044 (83) 1,127 1,082 103 979 Total interest expense (6,619) 15,056 (21,675) (33,499) 17,147 (50,646) Net interest income $ 7,346 $ 4,778 $ 2,568 $ 26,474 $ 7,902 $ 18,572 (1)Yield/rate and volume variances are allocated to yield/rate. (2)Taxable equivalent rates used where applicable assuming a 21% tax rate. Net Interest Income Net interest income was $260.4 million for the three months ended June 30, 2026, compared to $253.4 million for the same period in 2025. The increase was primarily due to an increase in average earning assets and a decrease in funding costs, partially offset by a decrease in earning asset yields and an increase in average interest bearing deposits. Average earning assets for the three months ended June 30, 2026 increased $1.6 billion compared to the same period in 2025, which included increases of $1.5 billion in average total loans held for investment and $116.6 million in average interest bearing cash and cash equivalents, partially offset by a $28.9 million decrease in average investment securities. Average interest bearing liabilities increased $1.6 billion for the three months ended June 30, 2026 compared to the same period in 2025, primarily due to increases of $1.5 billion increase in average interest bearing deposits and $71.8 million in average short-term borrowings, partially offset by a decrease of $6.8 million in average long-term debt. Average non-interest bearing deposits for the three months ended June 30, 2026 decreased to $8.1 billion from $8.2 billion for the same period in 2025. Net interest margin for the three months ended June 30, 2026 was 3.28%, compared to 3.35% for the same period in 2025. The decrease in net interest margin was primarily due to a decrease in the cost of interest bearing deposits, partially offset by lower earning asset yields. The yield on total loans held for investment decreased to 6.04% for the three months ended June 30, 2026, compared to 6.34% for the same period in 2025, and the yield on earning assets decreased to 5.54% for the three months ended June 30, 2026, compared to 5.80% for the same period in 2025. Total cost of deposits decreased to 2.40% for the three months ended June 30, 2026 from 2.65% for the same period in 2025, and total funding costs, including non-interest bearing deposits and stockholders' equity, decreased to 2.21% for the three months ended June 30, 2026, compared to 2.41% for the same period in 2025. Net interest income was $515.1 million for the six months ended June 30, 2026, compared to $489.4 million for the same period in 2025. The increase was primarily due to an increase in average earning assets and a decrease in funding costs, partially offset by a decrease in earning asset yields and an increase in average interest bearing deposits. Average earning assets increased $906.5 million for the six months ended June 30, 2026, compared to the same period in 2025, which included increases of $1.7 billion in average total loans held for investment and $70.8 million in average debt and equity securities, partially offset by an $854.4 million decrease in average interest bearing cash and cash equivalents. Average interest bearing liabilities increased $1.0 billion for the six months ended June 30, 2026, compared to the same period in 2025, primarily due to an increase of $1.2 billion in average interest bearing deposits, partially offset by a decrease of $209.3 million 28 Table of Contents in average short-term borrowings. Average non-interest bearing deposits for the six months ended June 30, 2026 decreased to $7.8 billion from $8.0 billion for the same period in 2025. Net interest margin for the six months ended June 30, 2026 was 3.35%, compared to 3.27% for the same period of 2025. The increase was primarily due to a decrease in funding costs. The yield on total loans held for investment decreased to 6.08% for the six months ended June 30, 2026, compared to 6.37% for the same period in 2025, and the yield on earning assets decreased to 5.58% for the six months ended June 30, 2026, compared to 5.78% for the same period in 2025. Total cost of deposits decreased to 2.39% for the six months ended June 30, 2026 from 2.70% for the same period in 2025 and total funding costs, including non-interest bearing deposits and stockholders' equity, decreased to 2.19% for the six months ended June 30, 2026, compared to 2.48% for the same period in 2025. Non-interest Income Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2026 2025 2026 2025 Service charges on deposit accounts $ 8,853 $ 8,182 $ 18,076 $ 16,022 Wealth management and trust fee income 5,136 3,730 9,524 7,694 Brokered loan fees 2,103 2,398 4,109 4,347 Investment banking and advisory fees 31,522 24,109 63,538 40,587 Trading income 11,313 7,896 21,564 13,835 Available-for-sale debt securities losses — (1,886) — (1,886) Other 16,191 9,640 27,573 17,914 Total non-interest income $ 75,118 $ 54,069 $ 144,384 $ 98,513 Non-interest income increased $21.0 million during the three months ended June 30, 2026, compared to the same period in 2025, primarily due to increases in wealth management and trust fee income, investment banking and advisory fees, trading income and other non-interest income, as well as the absence of a $1.9 million loss on sale of available-for-sale debt securities recognized in the second quarter of 2025. Non-interest income was $144.4 million for the six months ended June 30, 2026, a $45.9 million increase as compared to the same period in 2025, primarily due to increases in investment banking and advisory fees, trading income and other non-interest income. Non-interest Expense Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2026 2025 2026 2025 Salaries and benefits $ 123,339 $ 120,154 $ 262,686 $ 251,795 Occupancy expense 12,359 12,144 24,764 22,988 Marketing 4,786 3,624 9,758 8,633 Legal and professional 14,700 11,069 26,680 26,058 Communications and technology 28,494 24,314 55,666 47,956 Federal Deposit Insurance Corporation insurance assessment 4,586 5,096 9,463 10,437 Other 17,229 13,875 30,044 25,429 Total non-interest expense $ 205,493 $ 190,276 $ 419,061 $ 393,296 Non-interest expense increased $15.2 million during the three months ended June 30, 2026, compared to the same period in 2025. The increase was primarily due to increases in salaries and benefits, marketing, legal and professional, communications and technology and other non-interest expense. Non-interest expense was $419.1 million for the six months ended June 30, 2026, an increase of $25.8 million as compared to the same period in 2025, primarily due to increases in salaries and benefits, communications and technology and other non-interest expense. Analysis of Financial Condition Loans Held for Investment The following table summarizes the Company’s loans held for investment by portfolio segment. See Note 1 - Operations and Summary of Significant Accounting Policies in the 2025 Form 10-K for details of these portfolio segments. 29 Table of Contents (in thousands) June 30, 2026 December 31, 2025 Commercial $ 13,006,203 $ 12,163,545 Mortgage finance 6,383,381 6,064,019 Commercial real estate 5,128,375 5,378,712 Consumer 429,267 433,926 Total loans held for investment $ 24,947,226 $ 24,040,202 Total loans held for investment were $24.9 billion at June 30, 2026, an increase of $907.0 million from December 31, 2025, as increases in commercial and mortgage finance loans were partially offset by decreases in commercial real estate and consumer loans. Mortgage finance loans include legal ownership interests in mortgage loans that the Company purchases from unaffiliated mortgage originators, either directly or through a special purpose entity structure, that are typically sold within 10 to 20 days and represent 26% and 25% of loans held for investment at June 30, 2026 and December 31, 2025, respectively. Volumes fluctuate based on the level of market demand for the product and the number of days between purchase and sale of the loans, which can be affected by changes in overall market interest rates, and tend to peak at the end of each month. The Company originates a substantial majority of all loans held for investment. The Company also participates in shared national credits, both as a participant and as an agent. As of June 30, 2026, the Company had $6.8 billion in shared national credits, $1.4 billion of which the Company administered as agent. All syndicated loans, whether the Company acts as agent or participant, are underwritten to the same standards as all other loans the Company originates. As of June 30, 2026, approximately $26.6 million of the Company’s shared national credits were on non-accrual. Portfolio Concentrations Although more than 50% of the Company’s total loan exposure is outside of Texas and more than 50% of deposits are sourced outside of Texas, Texas concentration remains significant. As of June 30, 2026, a majority of the loans held for investment, excluding mortgage finance and other national lines of business, were to businesses with headquarters or operations in Texas. This geographic concentration subjects the Company’s loan portfolio to the general economic conditions within Texas. The risks created by this concentration have been considered by management in determining the appropriateness of the allowance for credit losses. 30 Table of Contents Non-performing Assets Non-performing assets include non-accrual loans and leases, and repossessed assets. The table below summarizes non-accrual loans by portfolio segment and by type of property securing the credit. (dollars in thousands) June 30, 2026 December 31, 2025 Non-accrual loans held for investment Commercial: Business assets $ 83,757 $ 92,725 Accounts receivable and inventory 1,103 1,177 Machinery and equipment 91 — Unsecured 464 2,244 Total commercial 85,415 96,146 Commercial real estate: Industrial buildings 18,539 19,200 Commercial building 1,527 1,534 Apartment building 18,500 — Total commercial real estate 38,566 20,734 Total non-accrual loans held for investment 123,981 116,880 Non-accrual loans held for sale(1) — 4,361 Other real estate owned (“OREO”) — — Total non-performing assets $ 123,981 $ 121,241 Non-accrual loans held for investment to total loans held for investment 0.50 % 0.49 % Total non-performing assets to total assets 0.37 % 0.38 % Allowance for credit losses on loans to non-accrual loans held for investment 2.2x 2.3x Loans held for investment past due 90 days and accruing $ 451 $ 19,353 Loans held for investment past due 90 days to total loans held for investment — % 0.08 % Loans held for sale past due 90 days and accruing $ — $ — (1) Non-accrual loans held for sale at December 31, 2025 include non-accrual loans previously reported in loans held for investment that were transferred at fair value to held for sale as of December 31, 2025. Summary of Credit Loss Experience The provision for credit losses, comprised of a provision for loans and off-balance sheet credit losses, is a charge to earnings to maintain the allowance for credit losses at a level consistent with management’s assessment of expected losses at each balance sheet date. The Company recorded a provision for credit losses of $34.0 million for the six months ended June 30, 2026, compared to a provision of $32.0 million for the six months ended June 30, 2025. The provision for credit losses for the six months ended June 30, 2026 reflects an increase in criticized loans and $33.4 million in net charge-offs recorded during the six months ended June 30, 2026. Criticized loans totaled $696.3 million at June 30, 2026, compared to $634.9 million at December 31, 2025. 31 Table of Contents The table below presents key metrics related to the Company’s credit loss experience: June 30, 2026 June 30, 2025 Allowance for credit losses on loans to total loans held for investment 1.08 % 1.16 % Allowance for credit losses on loans to average total loans held for investment(1) 1.11 % 1.24 % Total allowance for credit losses to total loans held for investment 1.34 % 1.40 % Total provision for credit losses to average total loans held for investment(1)(2) 0.28 % 0.29 % (1) Ratios are calculated using average balance for the six months ended June 30, 2026 and 2025, respectively. (2) Ratios are annualized utilizing provision for credit losses for the six months ended June 30, 2026 and 2025, respectively. The table below details net charge-offs/(recoveries) as a percentage of average total loans by portfolio segment: Six Months Ended June 30, 2026 2025 (dollars in thousands) Net Charge-offs Net Charge-offsto AverageLoans Net Charge-offs Net Charge-offs to Average Loans(1) Commercial $ 26,534 0.42 % $ 22,248 0.39 % Mortgage finance — — % — — % Commercial real estate 6,914 0.26 % 518 0.02 % Consumer (7) — % (4) — % Total $ 33,441 0.28 % $ 22,762 0.20 % (1) Ratios are annualized utilizing net charge-offs for the six months ended June 30, 2026 and 2025, respectively. Liquidity and Capital Resources Liquidity In general terms, liquidity is a measurement of the Company’s ability to meet its cash needs. The Company’s objectives in managing its liquidity are to maintain the ability to meet loan commitments, repurchase investment securities and repay deposits and other liabilities in accordance with their terms, without an adverse impact on current or future earnings. The Company’s liquidity strategy is guided by policies, formulated and monitored by senior management and the Asset and Liability Management Committee (“ALCO”), which take into account the demonstrated marketability of the Company’s assets, the sources and stability of its funding and the level of unfunded commitments. The Company regularly evaluates all of its various funding sources with an emphasis on accessibility, stability, reliability and cost-effectiveness. The Company’s principal source of funding is customer deposits, supplemented by short-term borrowings, primarily from federal funds purchased and FHLB borrowings, brokered deposits and long-term debt. The Company also relies on the availability of the mortgage secondary market provided by Ginnie Mae and government sponsored entities to support the liquidity of mortgage finance loans. The following table summarizes the Company’s interest bearing cash and cash equivalents: (dollars in thousands) June 30, 2026 December 31, 2025 Interest bearing cash and cash equivalents $ 3,488,756 $ 1,897,803 Interest bearing cash and cash equivalents as a percent of: Total loans held for investment 14.0 % 7.9 % Total earning assets 10.7 % 6.2 % Total deposits 12.1 % 7.2 % The Company aims to obtain as much of its funding as possible from customer deposits, which are generated through digital acquisition or as a result of development of long-term customer relationships, with a significant focus on treasury management products. In addition, the Company also has access to deposits through brokered channels. The following table summarizes period-end total deposits: June 30, 2026 December 31, 2025 (dollars in thousands) Balance % of Total Balance % of Total Customer deposits $ 25,555,978 88.4 % $ 25,719,595 97.2 % Brokered deposits 3,355,410 11.6 % 729,172 2.8 % Total deposits $ 28,911,388 100.0 % $ 26,448,767 100.0 % 32 Table of Contents Estimated uninsured deposits, including accrued interest, were 37% and 42% of total deposits at June 30, 2026 and December 31, 2025, respectively. The uninsured amounts are estimated based on the methodologies and assumptions used for the Bank’s regulatory reporting requirements. The Company has short-term borrowing sources available to supplement deposits and meet its funding needs. Such borrowings are generally used to fund mortgage finance loans, due to their liquidity, short duration and interest spreads available. These borrowing sources include federal funds purchased from downstream correspondent bank relationships (which consist of banks that are smaller than the Bank) and from upstream correspondent bank relationships (which consist of banks that are larger than the Bank) and advances from the FHLB and the Federal Reserve. The following table summarizes short-term borrowings, all of which mature within one year: (in thousands) June 30, 2026 December 31, 2025 Federal funds purchased $ — $ 30,000 FHLB borrowings 350,000 300,000 Total short-term borrowings $ 350,000 $ 330,000 The following table summarizes the Company’s short-term borrowing capacities net of balances outstanding: (in thousands) June 30, 2026 December 31, 2025 FHLB borrowing capacity relating to loans and pledged securities $ 2,410,828 $ 2,570,596 FHLB borrowing capacity relating to unencumbered securities 4,431,947 4,594,553 Total FHLB borrowing capacity(1) $ 6,842,775 $ 7,165,149 Unused federal funds lines available from commercial banks $ 1,557,000 $ 1,520,000 Unused Federal Reserve borrowings capacity $ 10,800,547 $ 9,174,238 Unused revolving line of credit(2) $ 75,000 $ 75,000 (1)FHLB borrowings are collateralized by a blanket floating lien on certain real estate secured loans and certain pledged securities. (2)Unsecured revolving, non-amortizing line of credit with maturity date of February 8, 2027. Proceeds may be used for general corporate purposes, including funding regulatory capital infusions into the Bank. The loan agreement contains customary financial covenants and restrictions. No borrowings were made against this line of credit during the six months ended June 30, 2026 or 2025. The Company has long-term debt outstanding of $500.9 million as of June 30, 2026, comprised of trust preferred securities and senior notes with maturity dates ranging from February 2032 to December 2036. See Note 5 - Short-Term Borrowings and Long-Term Debt in the accompanying notes to the consolidated financial statements included elsewhere in this report for additional information. The Company may consider raising additional capital, if needed, in public or private offerings of debt or equity securities to supplement deposits and meet its long-term funding needs. As the Company is a holding company and is a separate operating entity from the Bank, the Company’s primary sources of liquidity are dividends received from the Bank and borrowings from outside sources. Banking regulations may limit the amount of dividends that may be paid by the Bank. See Note 7 - Regulatory Ratios and Capital in the accompanying notes to the consolidated financial statements included elsewhere in this report for additional information regarding dividend restrictions and “Liquidity Risks” included in Part I, Item 1A. Risk Factors of the 2025 Form 10-K. Periodically, based on market conditions and other factors, and subject to compliance with applicable laws and regulations and the terms of its existing indebtedness, the Company may repay, repurchase, exchange or redeem outstanding indebtedness, or otherwise enter into transactions regarding debt or capital structure. For example, the Company periodically evaluates and may engage in liability management transactions, including repurchases or redemptions of outstanding long-term debt, which may be funded by the issuance of, or exchanges of, newly issued unsecured borrowings to actively manage the debt maturity profile and interest cost. Capital Resources The Company’s equity capital averaged $3.7 billion for the six months ended June 30, 2026 compared to $3.5 billion for the same period in 2025. The Company declared and paid common stock dividends of $8.7 million, representing $0.20 per common share, during the six months ended June 30, 2026. No common stock dividends were paid in 2025. On July 22, 2026, the Company and its board of directors declared and announced a cash dividend of $0.20 per common share payable on September 15, 2026, to holders of record at the close of business on September 1, 2026. 33 Table of Contents Effective December 12, 2025, the Company’s board of directors authorized a new share repurchase program under which the Company may repurchase up to $200.0 million in shares of its outstanding common stock, excluding the effect of excise tax expense incurred on the net stock repurchases. The share repurchase program will expire on December 31, 2026, but may be suspended or discontinued at any time. The remaining repurchase authorization under the January 22, 2025 share repurchase program was terminated upon authorization of this new program. During the six months ended June 30, 2026, the Company repurchased 1,009,771 shares of its common stock for an aggregate purchase price, including excise tax expense, of $98.7 million, at a weighted average price of $97.01 per share. Any repurchases under the Company’s repurchase program will be made in accordance with applicable securities laws from time to time in open market or private transactions. The extent to which the Company repurchases shares, and the timing of such repurchases, will be at management’s discretion and will depend upon a variety of factors, including market conditions, the Company’s capital position and amount of retained earnings, regulatory requirements and other considerations. For additional information on the Company’s capital and stockholders’ equity, see Note 7 - Regulatory Ratios and Capital, in the accompanying notes to the consolidated financial statements included elsewhere in this report. Critical Accounting Estimates SEC guidance requires disclosure of “critical accounting estimates.” The SEC defines “critical accounting estimates” as those estimates made in accordance with generally accepted accounting principles that involve a significant level of estimation uncertainty and have had or are reasonably likely to have a material impact on the financial condition or results of operations of the registrant. The Company follows financial accounting and reporting policies that are in accordance with accounting principles generally accepted in the United States. The more significant of these policies are summarized in Note 1 - Operations and Summary of Significant Accounting Policies in the notes to the consolidated financial statements included in the 2025 Form 10-K. Not all significant accounting policies require management to make difficult, subjective or complex judgments. However, the policy noted below could be deemed to meet the SEC’s definition of a critical accounting estimate. Allowance for Credit Losses Management considers the policies related to the allowance for credit losses as the most critical to the financial statement presentation. The total allowance for credit losses includes activity related to allowances calculated in accordance with Accounting Standards Codification 326, Credit Losses. The allowance for credit losses is established through a provision for credit losses charged to current earnings. The amount maintained in the allowance reflects management’s continuing evaluation of the credit losses expected to be recognized over the life of the loans in the Company’s portfolio. The allowance for credit losses on loans is a valuation account that is deducted from the loans' amortized cost basis to present the net amount expected to be collected on the loans. The allowance for credit losses on off-balance sheet financial instruments is recorded in other liabilities on the consolidated balance sheets. For purposes of determining the allowance for credit losses, the loan portfolio is segregated into pools first by portfolio segment and then by past due status or credit grade. Each pool is assigned a loss estimate, reflecting historical loss rates that incorporate probability of default and severity of losses over the estimated remaining life of the loans. Loans that do not share risk characteristics are evaluated on an individual basis and are not included in the collective (pool) evaluation. Management estimates the allowance balance using relevant available information from internal and external sources relating to past events, current conditions and reasonable and supportable forecasts. Modifications to loss estimates are made to incorporate a reasonable and supportable forecast of future losses at the pool level, as well as any necessary qualitative adjustments using a Portfolio Level Qualitative Factor (“PLQF”) and/or a Portfolio Segment Level Qualitative Factor (“SLQF”). A similar process is employed to calculate a reserve assigned to off-balance sheet financial instruments, specifically unfunded loan commitments and letters of credit. Modified loss estimates are assigned based on the balance of the commitments estimated to be outstanding at the time of default. The PLQF and SLQF are utilized to address factors that are not present in historical loss rates and are otherwise unaccounted for in the quantitative process. A reserve is recorded upon origination or purchase of a loan. See “Summary of Credit Loss Experience” above and Note 4 - Loans and Allowance for Credit Losses on Loans in the accompanying notes to the consolidated financial statements included elsewhere in this report for further discussion of the risk factors considered by management in establishing the allowance for credit losses. Management considers a range of macroeconomic scenarios in connection with the allowance estimation process. Within the various economic scenarios considered as of June 30, 2026, the quantitative estimate of the allowance for credit loss would increase by approximately $91.4 million under sole consideration of the most severe downside scenario. The quoted sensitivity calculation reflects the sensitivity of the modeled allowance estimate to macroeconomic forecast data, but is absent of qualitative overlays and other qualitative adjustments that are part of the quarterly reserving process and does not necessarily reflect the nature and extent of future changes in the allowance for reasons including increases or decreases in qualitative adjustments, changes in the risk profile and size of the portfolio, changes in the severity of the macroeconomic scenario and the range of scenarios under management consideration. 34 Table of Contents