(All dollar amounts presented in tables are in thousands, except per share data. “BP” equates to “basis points”; "N/M" equates to “not meaningful”; “—” equates to “zero” or “doesn’t round to a reportable number”; and “N/A” equates to “not applicable.” Certain prior period amounts have been reclassified to conform to the current-year presentation.) Forward-Looking Statements This report may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. When used or incorporated by reference in disclosure documents, the words "may," "will," "could," "should," "would," "believe," "anticipate," "plan," "estimate," "expect," "project," "target," and "goal," the negative of these terms and other similar expressions are intended to identify forward-looking statements, but are not the exclusive way to identify such statements. These forward-looking statements may include but are not limited to: statements of goals, intentions and expectations; statements regarding business plans, prospects, growth and operating strategies; statements regarding the quality, growth and composition of loan, investment and deposit portfolios; statements regarding our financial performance, financial condition and liquidity; and estimates of our risks and future credit provision and noninterest expenses. These forward-looking statements are based on our current beliefs and expectations and are subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond our control. In addition, these forward-looking statements are subject to certain risks, uncertainties and assumptions with respect to future business strategies and decisions that are subject to change, including but not limited to those set forth below: •Operating, legal and regulatory risks; •Economic, political and competitive forces; •General economic conditions, either nationally or in our market areas, which are worse than expected, including as a result of employment levels and labor shortages, and the effect of a potential recession or slowed economic growth caused by supply chain disruptions or otherwise; •Legislative, regulatory and accounting changes, including increased assessments by the Federal Deposit Insurance Corporation and changes in income tax laws and regulations; •Monetary and fiscal policies of the U.S. government, including policies of the U.S. Treasury and the Board of Governors of the Federal Reserve System; •Demand for our financial products and services in our market area; •Major catastrophes such as earthquakes, floods or other natural or human disasters and infectious disease outbreaks, the related disruption to local, regional and global economic activity and financial markets, and the impact that any of the foregoing may have on us and our customers and other constituencies; •Inflation or volatility in interest rates that reduce our margins and yields, the fair value of financial instruments or our level of loan originations or prepayments on loans we have made and make or the sale of loans or other assets and/or lead to higher operating costs and higher costs to retain or attract deposits; •The imposition of tariffs or other domestic or international governmental policies, trade restrictions and any retaliatory measures impacting our borrowers and the broader economy; •The impact of a potential federal government shutdown, debt ceiling impasses or fiscal uncertainty; •Fluctuations in real estate values in our market area; •A failure to maintain adequate levels of capital and liquidity to support our operations; •The availability of capital; •The composition and credit quality of our loan and investment portfolios; •Changes in the level and direction of loan delinquencies, classified and criticized loans and charge-offs and changes in estimates of the adequacy of the allowance for credit losses; •Changes in the economic assumptions or methodology utilized to calculate the allowance for credit losses; •Our ability to access cost-effective funding; •Changes in liquidity, including the size and composition of our deposit portfolio and the percentage of uninsured deposits in the portfolio; •Our ability to implement our business strategies; •Our ability to manage market risk, credit risk, interest rate risk and operational risk and the effectiveness of our risk management processes and procedures; •Timing and amount of revenue and expenditures; •Adverse changes in the securities markets; •The impact of any military conflict, terrorist act or other geopolitical acts; •Our ability to enter new markets successfully and capitalize on growth opportunities; •Competition for loans, deposits and employees; 49 Table of Contents •Risks associated with cybersecurity threats, data breaches, ransomware attacks, or other failures in our operational or security systems and infrastructure, including the risks arising from our dependence on third-party service providers and vendors; •The failure to maintain current technologies and/or to successfully implement future information technology enhancements; •Changes in investor sentiment or consumer spending, borrowing or savings behavior; •Our ability to attract, develop and retain key employees; •Other risks and uncertainties, including those occurring in the U.S. and international financial systems; and •The risk that our analysis of these risks and forces could be incorrect and/or that the strategies developed to address them could be unsuccessful. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated, expected or projected. These and other risk factors are more fully described in this report and in the Univest Financial Corporation Annual Report on Form 10-K for the year ended December 31, 2025 under the section entitled "Item 1A - Risk Factors," and from time to time in other filings made by the Corporation with the SEC. These forward-looking statements speak only as of the date of the report. The Corporation expressly disclaims any obligation to publicly release any updates or revisions to reflect any change in the Corporation’s expectations with regard to any change in events, conditions or circumstances on which any such statement is based, unless otherwise required by law. Critical Accounting Policies In order to prepare the Corporation’s financial statements in conformity with U.S. generally accepted accounting principles, management is required to make estimates and assumptions that affect the amounts reported in the Corporation’s financial statements. There are uncertainties inherent in making these estimates and assumptions. Certain critical accounting policies could materially affect the results of operations and financial condition of the Corporation should changes in circumstances require a change in related estimates or assumptions. The Corporation has identified the fair value measurement of investment securities available-for-sale and the calculation of the allowance for credit losses on loans and leases as critical accounting policies. For more information on these critical accounting policies, please refer to the Corporation’s 2025 Annual Report on Form 10-K. General The Corporation is a Pennsylvania corporation, organized in 1973, and registered as a bank holding company pursuant to the Bank Holding Company Act of 1956. The Corporation owns all of the capital stock of Univest Bank and Trust Co. and is the sole member of 1876 Double Eagle, LLC. The condensed consolidated financial statements include the accounts of the Corporation and its wholly owned subsidiaries, the Bank and 1876 Double Eagle, LLC. The Bank is engaged in domestic banking services for individuals, businesses, municipalities and non-profit organizations. Through its wholly owned subsidiaries, the Bank provides a variety of financial services throughout its markets of operation. The Bank is the parent company of Girard Investment Services, LLC, a full-service registered introducing broker-dealer and a licensed insurance agency, Girard Advisory Services, LLC, a registered investment advisory firm, and Girard Pension Services, LLC, a registered investment advisor, which provides investment consulting and management services to municipal entities. The Bank is also the parent company of Univest Insurance, LLC, an independent insurance agency, and Univest Capital, Inc., an equipment financing business. The Corporation earns revenues primarily from the margins and fees generated from lending and depository services as well as fee-based income from trust, insurance, mortgage banking, treasury management and investment services. The Corporation seeks to achieve adequate and reliable earnings through business growth while maintaining adequate levels of capital and liquidity and limiting exposure to credit and interest rate risk. 50 Table of Contents Executive Overview The Corporation’s consolidated net income, earnings per share and return on average assets and average equity were as follows: Three Months Ended Six Months Ended June 30, Change June 30, Change (Dollars in thousands, except per share data) 2026 2025 Amount Percent 2026 2025 Amount Percent Net income $ 22,953 $ 19,978 $ 2,975 14.9 % $ 50,045 $ 42,373 $ 7,672 18.1 % Net income per share: Basic $ 0.83 $ 0.69 $ 0.14 20.3 $ 1.79 $ 1.46 $ 0.33 22.6 Diluted 0.82 0.69 0.13 18.8 1.78 1.45 0.33 22.8 Return on average assets 1.13 % 1.00 % 13 BP 13.0 1.23 % 1.07 % 16 BP 15.0 Return on average equity 9.67 % 8.82 % 85 BP 9.6 10.62 % 9.47 % 115 BP 12.1 The financial results for the three months ended June 30, 2026 included a pre-tax charge of $5.2 million ($4.1 million after-tax), or $0.15 diluted earnings per share, related to a valuation adjustment on an other real estate owned (OREO) property. The adjustment was recorded based on an updated appraisal which reflects the property's estimated fair value less costs to sell. The property was initially transferred to OREO during the three months ended June 30, 2022 and was listed for sale during the quarter ended June 30, 2025. The financial results for the three months ended June 30, 2026 also included tax-free bank owned life insurance (BOLI) death benefit proceeds of $708 thousand, which represented $0.03 diluted earnings per share. The financial results for the six months ended June 30, 2026 included tax-free BOLI death benefit proceeds of $1.1 million, which represented $0.04 diluted earnings per share. In addition, the financial results for the six months ended June 30, 2026 included a $427 thousand restructuring charge ($337 thousand after-tax), or $0.01 diluted earnings per share, related to the planned closure of two underutilized facilities: a financial center and a limited purpose banking office. The financial results for the six months ended June 30, 2025 included tax-free BOLI death benefit proceeds of $1.1 million, which represented $0.04 diluted earnings per share. Results of Operations Net Interest Income Net interest income is the difference between interest earned primarily on loans, leases and investment securities and interest paid on deposits, borrowings, long-term debt and subordinated notes. Net interest income is the principal source of the Corporation’s revenue. Table 1 presents the Corporation’s average balances, tax-equivalent interest income, interest expense, tax-equivalent yields earned on average assets, cost of average liabilities, and shareholders' equity on a tax-equivalent basis for the three and six months ended June 30, 2026 and 2025. The tax-equivalent net interest margin is tax-equivalent net interest income as a percentage of average interest-earning assets. The tax-equivalent net interest spread represents the weighted average tax-equivalent yield on interest-earning assets less the weighted average cost of interest-bearing liabilities. The effect of net interest-free funding sources represents the effect on the net interest margin of net funding provided by noninterest-earning assets, noninterest-bearing liabilities and shareholders' equity. Table 2 analyzes the changes in the tax-equivalent net interest income for the periods broken down by their rate and volume components. Three and six months ended June 30, 2026 versus 2025 Net interest income on a tax-equivalent basis for the three months ended June 30, 2026 was $66.7 million, an increase of $6.8 million, or 11.3%, compared to $60.0 million for the three months ended June 30, 2025. Net interest income on a tax-equivalent basis for the six months ended June 30, 2026 was $130.6 million, an increase of $13.5 million, or 11.5%, compared to $117.1 million for the six months ended June 30, 2025. The increase in tax-equivalent net interest income for the three and six months ended June 30, 2026 compared to the comparable periods in the prior year was driven by higher average balances of interest-earning assets, and a reduction in our cost of funds, partially offset by higher average balances of interest-bearing liabilities. The net interest margin, on a tax-equivalent basis, was 3.49% and 3.41% for the three and six months ended June 30, 2026, respectively, compared to 3.20% and 3.14% for the three and six months ended June 30, 2025, respectively. Excess liquidity reduced net interest margin by approximately four and eight basis points for the three and six months ended June 30, 2026, respectively, and approximately four basis points for the three and six months ended June 30, 2025. 51 Table of Contents Table 1—Average Balances and Interest Rates—Tax-Equivalent Basis Three Months Ended June 30, 2026 2025 (Dollars in thousands) Average Balance Income/ Expense Average Rate Average Balance Income/ Expense Average Rate Assets: Interest-earning deposits with other banks $ 120,511 $ 1,118 3.72 % $ 131,391 $ 1,371 4.19 % Other debt and equity securities 502,065 4,203 3.36 497,214 3,962 3.20 Federal Home Loan Bank, Federal Reserve Bank and other stock 33,537 625 7.47 36,711 671 7.33 Total interest-earning deposits, investments and other interest-earning assets 656,113 5,946 3.63 665,316 6,004 3.62 Commercial, financial and agricultural loans 989,950 16,293 6.60 1,005,784 17,686 7.05 Real estate—commercial and construction loans 3,892,900 57,589 5.93 3,692,262 54,165 5.88 Real estate—residential loans 1,711,210 22,002 5.16 1,727,381 21,772 5.06 Loans to individuals 12,511 270 8.66 15,575 337 8.68 Tax-exempt loans and leases 224,883 3,235 5.77 228,856 2,966 5.20 Lease financings 176,625 3,294 7.48 177,080 3,192 7.23 Gross loans and leases 7,008,079 102,683 5.88 6,846,938 100,118 5.86 Total interest-earning assets 7,664,192 108,629 5.69 7,512,254 106,122 5.67 Cash and due from banks 58,713 55,335 Allowance for credit losses, loans and leases (89,488) (88,127) Premises and equipment, net 44,926 47,299 Operating lease right-of-use assets 24,640 26,948 Other assets 429,930 425,766 Total assets $ 8,132,913 $ 7,979,475 Liabilities: Interest-bearing checking deposits $ 1,255,397 $ 7,603 2.43 % $ 1,216,909 $ 7,800 2.57 % Money market savings 1,998,397 16,604 3.33 1,754,428 16,945 3.87 Regular savings 748,657 1,203 0.64 700,762 749 0.43 Time deposits 1,411,889 13,357 3.79 1,541,008 16,261 4.23 Total time and interest-bearing deposits 5,414,340 38,767 2.87 5,213,107 41,755 3.21 Short-term borrowings 33,437 30 0.36 5,254 1 0.08 Long-term debt 131,868 1,337 4.07 200,549 2,128 4.26 Subordinated notes 98,944 1,747 7.08 149,444 2,281 6.12 Total borrowings 264,249 3,114 4.73 355,247 4,410 4.98 Total interest-bearing liabilities 5,678,589 41,881 2.96 5,568,354 46,165 3.33 Noninterest-bearing deposits 1,429,369 1,420,143 Operating lease liabilities 27,271 29,802 Accrued expenses and other liabilities 45,821 52,640 Total liabilities 7,181,050 7,070,939 Total interest-bearing liabilities and noninterest-bearing deposits (Cost of Funds) 7,107,958 2.36 6,988,497 2.65 Shareholders’ Equity: Common stock 157,784 157,784 Additional paid-in capital 301,620 301,016 Retained earnings and other equity 492,459 449,736 Total shareholders’ equity 951,863 908,536 Total liabilities and shareholders’ equity $ 8,132,913 $ 7,979,475 Net interest income $ 66,748 $ 59,957 Net interest spread 2.73 2.34 Effect of net interest-free funding sources 0.76 0.86 Net interest margin 3.49 % 3.20 % Ratio of average interest-earning assets to average interest-bearing liabilities 134.97 % 134.91 % Notes: For rate calculation purposes, average loan and lease categories include deferred fees and costs and purchase accounting adjustments. Net interest income includes net deferred costs amortization of $801 thousand and $689 thousand for the three months ended June 30, 2026 and 2025, respectively. Nonaccrual loans and leases have been included in the average loan and lease balances. Loans held for sale have been included in the average loan balances. Tax-equivalent amounts for the three months ended June 30, 2026 and 2025 have been calculated using the Corporation's federal applicable rate of 21%. 52 Table of Contents Six Months Ended June 30, 2026 2025 (Dollars in thousands) Average Balance Income/ Expense Average Rate Average Balance Income/ Expense Average Rate Assets: Interest-earning deposits with other banks $ 213,140 $ 3,928 3.72 % $ 125,725 $ 2,731 4.38 % Obligations of states and political subdivisions* — — — 437 4 1.85 Other debt and equity securities 500,579 8,256 3.33 498,201 7,981 3.23 Federal Home Loan Bank, Federal Reserve Bank and other stock 35,401 1,329 7.57 37,134 1,358 7.37 Total interest-earning deposits, investments and other interest-earning assets 749,120 13,513 3.64 661,497 12,074 3.68 Commercial, financial and agricultural loans 974,895 31,624 6.54 998,363 34,706 7.01 Real estate—commercial and construction loans 3,877,116 113,385 5.90 3,698,214 106,841 5.83 Real estate—residential loans 1,710,727 43,528 5.13 1,728,259 43,314 5.05 Loans to individuals 12,454 543 8.79 17,495 730 8.41 Tax-exempt loans and leases 224,030 6,351 5.72 229,491 5,827 5.12 Lease financings 174,807 6,506 7.51 179,872 6,432 7.21 Gross loans and leases 6,974,029 201,937 5.84 6,851,694 197,850 5.82 Total interest-earning assets 7,723,149 215,450 5.63 7,513,191 209,924 5.63 Cash and due from banks 58,349 56,009 Allowance for credit losses, loans and leases (89,162) (87,975) Premises and equipment, net 45,141 47,076 Operating lease right-of-use assets 25,025 27,352 Other assets 429,012 424,601 Total assets $ 8,191,514 $ 7,980,254 Liabilities: Interest-bearing checking deposits $ 1,267,914 $ 15,325 2.44 % $ 1,219,446 $ 14,875 2.46 % Money market savings 2,021,722 33,522 3.34 1,797,074 34,980 3.93 Regular savings 756,930 2,575 0.69 701,648 1,512 0.43 Time deposits 1,400,579 26,487 3.81 1,508,930 32,367 4.33 Total time and interest-bearing deposits 5,447,145 77,909 2.88 5,227,098 83,734 3.23 Short-term borrowings 29,530 33 0.23 6,076 15 0.50 Long-term debt 166,436 3,430 4.16 208,978 4,489 4.33 Subordinated notes 98,921 3,495 7.12 149,382 4,562 6.16 Total borrowings 294,887 6,958 4.76 364,436 9,066 5.02 Total interest-bearing liabilities 5,742,032 84,867 2.98 5,591,534 92,800 3.35 Noninterest-bearing deposits 1,420,540 1,398,396 Operating lease liabilities 27,691 30,236 Accrued expenses and other liabilities 50,558 57,382 Total liabilities 7,240,821 7,077,548 Total interest-bearing liabilities and noninterest-bearing deposits (Cost of Funds) 7,162,572 2.39 6,989,930 2.68 Shareholders’ Equity: Common stock 157,784 157,784 Additional paid-in capital 302,512 301,830 Retained earnings and other equity 490,397 443,092 Total shareholders’ equity 950,693 902,706 Total liabilities and shareholders’ equity $ 8,191,514 $ 7,980,254 Net interest income $ 130,583 $ 117,124 Net interest spread 2.65 2.28 Effect of net interest-free funding sources 0.76 0.86 Net interest margin 3.41 % 3.14 % Ratio of average interest-earning assets to average interest-bearing liabilities 134.50 % 134.37 % *Obligations of states and political subdivisions are tax-exempt earning assets. Notes: For rate calculation purposes, average loan and lease categories include deferred fees and costs and purchase accounting adjustments. Net interest income includes net deferred costs amortization of $1.6 million and $1.2 million for the six months ended June 30, 2026 and 2025, respectively. Nonaccrual loans and leases have been included in the average loan and lease balances. Loans held for sale have been included in the average loan balances. Tax-equivalent amounts for the six months ended June 30, 2026 and 2025 have been calculated using the Corporation's federal applicable rate of 21%. 53 Table of Contents Table 2—Analysis of Changes in Net Interest Income The rate-volume variance analysis set forth in the table below compares changes in tax-equivalent net interest income for the periods indicated by their rate and volume components. The change in interest income/expense due to both volume and rate has been allocated proportionately. Three Months Ended Six Months Ended June 30, 2026 Versus 2025 June 30, 2026 Versus 2025 (Dollars in thousands) Volume Change Rate Change Total Volume Change Rate Change Total Interest income: Interest-earning deposits with other banks $ (108) $ (145) $ (253) $ 1,660 $ (463) $ 1,197 Obligations of states and political subdivisions — — — (4) — (4) Other debt and equity securities 40 201 241 37 238 275 Federal Home Loan Bank, Federal Reserve Bank and other stock (59) 13 (46) (65) 36 (29) Interest on deposits, investments and other earning assets (127) 69 (58) 1,628 (189) 1,439 Commercial, financial and agricultural loans (275) (1,118) (1,393) (800) (2,282) (3,082) Real estate—commercial and construction loans 2,961 463 3,424 5,242 1,302 6,544 Real estate—residential loans (203) 433 230 (452) 666 214 Loans to individuals (66) (1) (67) (219) 32 (187) Tax-exempt loans and leases (53) 322 269 (142) 666 524 Lease financings (8) 110 102 (186) 260 74 Interest and fees on loans and leases 2,356 209 2,565 3,443 644 4,087 Total interest income 2,229 278 2,507 5,071 455 5,526 Interest expense: Interest-bearing checking deposits 240 (437) (197) 574 (124) 450 Money market savings 2,188 (2,529) (341) 4,115 (5,573) (1,458) Regular savings 55 399 454 123 940 1,063 Time deposits (1,296) (1,608) (2,904) (2,201) (3,679) (5,880) Total time and interest-bearing deposits 1,187 (4,175) (2,988) 2,611 (8,436) (5,825) Short-term borrowings 17 12 29 30 (12) 18 Long-term debt (700) (91) (791) (888) (171) (1,059) Subordinated notes (854) 320 (534) (1,703) 636 (1,067) Interest on borrowings (1,537) 241 (1,296) (2,561) 453 (2,108) Total interest expense (350) (3,934) (4,284) 50 (7,983) (7,933) Net interest income $ 2,579 $ 4,212 $ 6,791 $ 5,021 $ 8,438 $ 13,459 54 Table of Contents Provision for Credit Losses The provision for credit losses for the three months ended June 30, 2026 and 2025 was $2.7 million and $5.7 million, respectively. The provision for credit losses for the six months ended June 30, 2026 and 2025 was $4.0 million and $8.0 million, respectively. The following table details information pertaining to the Corporation’s allowance for credit losses on loans and leases as a percentage of loans and leases held for investment at the dates indicated. (Dollars in thousands) June 30, 2026 March 31, 2026 December 31, 2025 September 30, 2025 June 30, 2025 Allowance for credit losses, loans and leases $ 89,967 $ 88,900 $ 88,165 $ 86,527 $ 86,989 Loans and leases held for investment 7,041,957 6,940,212 6,914,804 6,785,482 6,801,185 Allowance for credit losses, loans and leases / loans and leases held for investment 1.28 % 1.28 % 1.28 % 1.28 % 1.28 % Noninterest Income The following table presents noninterest income for the three and six months ended June 30, 2026 and 2025: Three Months Ended Six Months Ended June 30, Change June 30, Change (Dollars in thousands) 2026 2025 Amount Percent 2026 2025 Amount Percent Trust fee income $ 2,283 $ 2,146 $ 137 6.4 % $ 4,519 $ 4,307 $ 212 4.9 % Service charges on deposit accounts 2,363 2,258 105 4.7 4,642 4,452 190 4.3 Investment advisory commission and fee income 6,043 5,460 583 10.7 12,197 11,073 1,124 10.2 Insurance commission and fee income 5,351 5,261 90 1.7 12,774 12,150 624 5.1 Other service fee income 3,319 3,147 172 5.5 6,360 5,854 506 8.6 Bank owned life insurance income 1,698 1,012 686 67.8 3,030 2,971 59 2.0 Net gain on investment securities transactions 11 — 11 N/M 11 — 11 N/M Net gain on mortgage banking activities 1,346 981 365 37.2 2,137 1,628 509 31.3 Net (loss) gain on sales and write-downs of other real estate owned (5,249) — (5,249) N/M (5,249) 4 (5,253) N/M Other income 941 1,236 (295) (23.9) 1,773 1,477 296 20.0 Total noninterest income $ 18,106 $ 21,501 $ (3,395) (15.8 %) $ 42,194 $ 43,916 $ (1,722) (3.9 %) Three and six months ended June 30, 2026 versus 2025 Noninterest income for the three months ended June 30, 2026 was $18.1 million, a decrease of $3.4 million, or 15.8%, from the three months ended June 30, 2025. Noninterest income for the six months ended June 30, 2026 was $42.2 million, a decrease of $1.7 million, or 3.9%, from the six months ended June 30, 2025. Net loss on the sale and write-down of OREO increased $5.2 million for the three and six months ended June 30, 2026 from the comparable periods in the prior year due to the valuation adjustment recorded during the quarter as previously mentioned. Investment advisory commission and fee income increased $583 thousand, or 10.7%, for the three months ended June 30, 2026 and $1.1 million, or 10.2%, for the six months ended June 30, 2026 from the comparable periods in the prior year, driven by appreciation in assets under management and new customer relationships. Net gain on mortgage banking activities increased $365 thousand, or 37.2%, for the three months ended June 30, 2026 and $509 thousand, or 31.3%, for the six months ended June 30, 2026 from the comparable periods in the prior year, primarily due 55 Table of Contents to increased salable volume and increased margins. BOLI increased $686 thousand, or 67.8%, for the three months ended June 30, 2026 from the comparable period in the prior year. The financial results for the three months ended June 30, 2026 included $708 thousand in BOLI death benefit proceeds compared to $71 thousand for the three months ended June 30, 2025. Insurance commission and fee income increased $624 thousand, or 5.1%, for the six months ended June 30, 2026 from the comparable period in the prior year, primarily due to increases of $268 thousand and $161 thousand in premiums on commercial lines and life and health overrides, respectively. Additionally, contingent income increased $208 thousand for the six months ended June 30, 2026, from $1.6 million for the six months ended June 30, 2025 to $1.8 million for the six months ended June 30, 2026. Contingent income is largely recognized in the first quarter of each year. Other service fee income increased $506 thousand, or 8.6%, for the six months ended June 30, 2026 from the comparable period in the prior year. This was driven by a $284 thousand decrease in the valuation allowance on servicing rights during the six months ended June 30, 2026. Additionally, interchange fees increased $146 thousand for the six months ended June 30, 2026. Noninterest Expense The following table presents noninterest expense for the three and six months ended June 30, 2026 and 2025: Three Months Ended Six Months Ended June 30, Change June 30, Change (Dollars in thousands) 2026 2025 Amount Percent 2026 2025 Amount Percent Salaries, benefits and commissions $ 33,208 $ 31,536 $ 1,672 5.3 % $ 66,667 $ 62,362 $ 4,305 6.9 % Net occupancy 2,938 2,739 199 7.3 5,936 5,592 344 6.2 Equipment 1,122 1,043 79 7.6 2,201 2,165 36 1.7 Data processing 4,627 4,408 219 5.0 9,107 8,772 335 3.8 Professional fees 2,029 1,597 432 27.1 3,706 3,394 312 9.2 Marketing and advertising 988 498 490 98.4 1,622 851 771 90.6 Deposit insurance premiums 1,118 1,074 44 4.1 2,288 2,225 63 2.8 Intangible expenses 92 131 (39) (29.8) 185 261 (76) (29.1) Restructuring charges — — — — 427 — 427 N/M Other expense 7,002 7,306 (304) (4.2) 13,654 14,038 (384) (2.7) Total noninterest expense $ 53,124 $ 50,332 $ 2,792 5.5 % $ 105,793 $ 99,660 $ 6,133 6.2 % Three and six months ended June 30, 2026 versus 2025 Noninterest expense for the three months ended June 30, 2026 was $53.1 million, an increase of $2.8 million, or 5.5%, from the three months ended June 30, 2025. Noninterest expense for the six months ended June 30, 2026 was $105.8 million, an increase of $6.1 million, or 6.2%, from the six months ended June 30, 2025. Salaries, benefits and commissions increased $1.7 million, or 5.3%, for the three months ended June 30, 2026 and $4.3 million, or 6.9%, for the six months ended June 30, 2026 from the comparable periods in the prior year. The increases were primarily driven by higher salary expense of $1.3 million and $2.6 million, respectively, due to annual merit increases, as well as increased medical claims expense of $375 thousand and $1.1 million, respectively. Marketing and advertising expense increased $490 thousand, or 98.4%, for the three months ended June 30, 2026 and $771 thousand, or 90.6%, for the six months ended June 30, 2026 from the comparable periods in the prior year. These increases were primarily driven by the inclusion of certain sponsorship activities that were historically reported in Other Expense and the Corporation's entry into a sponsorship agreement with a local university, enhancing community engagement and visibility. 56 Table of Contents Professional fees increased $432 thousand, or 27.1%, for the three months ended June 30, 2026 and $312 thousand, or 9.2%, for the six months ended June 30, 2026 from the comparable periods in the prior year, primarily due to increased marketing consultant fees. Restructuring charges increased $427 thousand for the six months ended June 30, 2026 from the comparable period in the prior year related to the planned closure of two underutilized facilities: a financial center and a limited purpose banking office. Tax Provision The Corporation recognized a tax expense of $5.6 million and $5.0 million for the three months ended June 30, 2026 and 2025, respectively, resulting in effective tax rates of 19.6% and 20.1% for the respective periods. The Corporation recognized a tax expense of $12.0 million and $10.2 million for the six months ended June 30, 2026 and 2025, respectively, resulting in effective tax rates of 19.3% and 19.4% for the respective periods. The effective tax rates for the three and six months ended June 30, 2026 and 2025 reflected the benefits of tax-exempt income from investments in municipal securities and loans and leases. Additionally, the effective tax rates for the six months ended June 30, 2026 and 2025 were favorably impacted by proceeds of BOLI death benefits and the impact of equity compensation awards. Financial Condition Assets The following table presents assets at the dates indicated: At June 30, 2026 At December 31, 2025 Change (Dollars in thousands) Amount Percent Cash, interest-earning deposits and federal funds sold $ 195,325 $ 553,712 $ (358,387) (64.7) % Investment securities 497,498 496,289 1,209 0.2 Federal Home Loan Bank, Federal Reserve Bank and other stock, at cost 32,798 37,808 (5,010) (13.3) Loans held for sale 13,237 15,288 (2,051) (13.4) Loans and leases held for investment 7,041,957 6,914,804 127,153 1.8 Allowance for credit losses, loans and leases (89,967) (88,165) (1,802) 2.0 Premises and equipment, net 44,373 45,554 (1,181) (2.6) Operating lease right-of-use assets 24,267 25,795 (1,528) (5.9) Goodwill and other intangibles, net 183,360 182,838 522 0.3 Bank owned life insurance 142,130 140,001 2,129 1.5 Accrued interest receivable and other assets 118,014 112,973 5,041 4.5 Total assets $ 8,202,992 $ 8,436,897 $ (233,905) (2.8) % Cash and Interest-Earning Deposits Cash and interest-earning deposits decreased $358.4 million, or 64.7%, from December 31, 2025, primarily due to a decrease in interest-earning deposits at the Federal Reserve Bank of $369.9 million due to seasonal decreases in public funds and growth in loans and leases held for investment. Investment Securities Total investment securities at June 30, 2026 increased $1.2 million, or 0.2%, from December 31, 2025 as purchases of $50.5 million, which were primarily residential mortgage-backed securities, were offset by maturities and pay-downs of $39.8 million, sales of $5.7 million, decreases in the fair value of available-for-sale investment securities of $2.4 million, calls of $999 thousand, net amortization of purchased premiums and discounts of $429 thousand and a provision for credit losses of $23 thousand. Loans and Leases Gross loans and leases held for investment increased $127.2 million, or 1.8%, from December 31, 2025. The increase in gross loans and leases held for investment was primarily due to increases in commercial, construction and commercial real 57 Table of Contents estate loans, partially offset by a decrease in residential mortgage loans. For more information on the composition of the commercial loan portfolio, see "Table 4 - Loan Portfolio Overview." Asset Quality The Bank's strategy for credit risk management focuses on having well-defined credit policies and uniform underwriting criteria and providing prompt attention to potential problem loans and leases. Performance of the loan and lease portfolio is monitored on a regular basis by Bank management and lending officers. Nonaccrual loans and leases are loans or leases for which it is probable that not all principal and interest payments due will be collectible in accordance with the original contractual terms. Factors considered by management in determining accrual status include payment status, borrower cash flows, collateral value, and the probability of collecting scheduled principal and interest payments when due. At June 30, 2026, nonaccrual loans and leases were $43.9 million and had a related allowance for credit losses on loans and leases of $10.9 million. At December 31, 2025, nonaccrual loans and leases were $13.7 million and had a related allowance for credit losses on loans and leases of $3.0 million. During the first quarter of 2026, a $3.9 million commercial real estate loan was placed on nonaccrual status. Subsequent to its nonaccrual designation, the loan incurred a $195 thousand charge-off. During the second quarter of 2026, a commercial loan relationship totaling $28.6 million was placed on nonaccrual status with a specific reserve of $9.8 million. Additionally, during the second quarter of 2026, two nonaccrual commercial loans totaling $1.7 million were charged-off. These loans were fully reserved prior to charge-off. Individual reserves have been established based on current facts and management's judgments about the ultimate outcome of these credits, including the most recent known data available on any related underlying collateral and the borrower's cash flows. The amount of individual reserve needed for these credits could change in future periods subject to changes in facts and judgments related to these credits. Net loan and lease charge-offs for the three months ended June 30, 2026 were $1.9 million compared to $7.8 million for the same period in the prior year. Net loan and lease charge-offs for the six months ended June 30, 2026 were $3.2 million compared to $9.5 million for the same period in the prior year. The three and six months ended June 30, 2025 included a $7.3 million charge-off on a commercial loan relationship. Other real estate owned (OREO) was $18.9 million at June 30, 2026, compared to $23.9 million at December 31, 2025. During the second quarter of 2026, a commercial real estate property incurred a $5.2 million valuation adjustment. The adjustment was recorded based on an updated appraisal which reflects the property's estimated fair value less costs to sell. Repossessed assets were $10 thousand and $65 thousand at June 30, 2026 and December 31, 2025, respectively. During the six months ended June 30, 2026, repossessed assets totaling $88 thousand were acquired, repossessed assets totaling $19 thousand were written down and repossessed assets totaling $124 thousand were sold. 58 Table of Contents Table 3—Nonaccrual and Past Due Loans and Leases; Other Real Estate Owned; Repossessed Assets; and Related Ratios The following table details information pertaining to the Corporation’s nonperforming assets at the dates indicated. (Dollars in thousands) At June 30, 2026 At December 31, 2025 Nonaccrual loans and leases held for investment $ 43,897 $ 13,743 Accruing loans and leases, 90 days or more past due 160 89 Total nonperforming loans and leases $ 44,057 $ 13,832 Other real estate owned 18,914 23,926 Repossessed assets 10 65 Total nonperforming assets $ 62,981 $ 37,823 Loans and leases held for investment $ 7,041,957 $ 6,914,804 Allowance for credit losses, loans and leases 89,967 88,165 Nonaccrual loans and leases with partial charge-offs 4,952 1,532 Reserves on individually analyzed loans 10,937 3,022 Allowance for credit losses, loans and leases / loans and leases held for investment 1.28 % 1.28 % Nonaccrual loans and leases / loans and leases (held for investment) 0.62 % 0.20 % Allowance for credit losses, loans and leases / nonaccrual loans and leases 204.95 % 641.53 % 59 Table of Contents Table 4—Loan Portfolio Overview The following table provides summarized detail related to outstanding commercial loan balances segmented by industry description as of June 30, 2026: (Dollars in thousands) At June 30, 2026 Industry Description Total Outstanding Balance % of Commercial Loan Portfolio Animal Production $ 440,916 7.8 % CRE - Retail 426,394 7.5 CRE - Multi-family 393,126 6.9 CRE - 1-4 Family Residential Investment 279,515 4.9 Hotels & Motels (Accommodation) 268,482 4.7 CRE - Office 252,607 4.5 Specialty Trade Contractors 243,448 4.3 CRE - Industrial / Warehouse 215,638 3.8 Nursing and Residential Care Facilities 176,891 3.1 Homebuilding (tract developers, remodelers) 163,688 2.9 Crop Production 145,110 2.6 Merchant Wholesalers, Durable Goods 138,817 2.5 CRE - Mixed-Use - Commercial 121,993 2.2 Repair and Maintenance 121,737 2.1 Motor Vehicle and Parts Dealers 120,416 2.1 CRE - Mixed-Use - Residential 110,034 1.9 Wood Product Manufacturing 101,076 1.8 Nondepository Credit Intermediation and Related Activities (except 5221) 99,227 1.7 Administrative and Support Services 97,708 1.7 Food Services and Drinking Places 97,346 1.7 Education 91,845 1.6 Merchant Wholesalers, Nondurable Goods 88,338 1.6 Professional, Scientific, and Technical Services 85,432 1.5 Amusement, Gambling, and Recreation Industries 78,808 1.4 Fabricated Metal Product Manufacturing 75,975 1.3 Food Manufacturing 68,126 1.2 Personal and Laundry Services 67,103 1.2 Private Equity & Special Purpose Entities (except 52592) 65,968 1.2 Religious Organizations, Advocacy Groups 63,624 1.1 Machinery Manufacturing 62,643 1.1 Miniwarehouse / Self-Storage 56,126 1.0 Nonresidential Building Contractors 54,376 1.0 Industries with >$50 million in outstandings $ 4,872,533 85.9 % Industries with <$50 million in outstandings $ 799,696 14.1 % Total Commercial Loans $ 5,672,229 100.0 % Consumer Loans and Lease Financings Total Outstanding Balance Real Estate-Residential Secured for Personal Purpose $ 911,116 Real Estate-Home Equity Secured for Personal Purpose 205,502 Loans to Individuals 12,342 Lease Financings 240,768 Total Consumer Loans and Lease Financings $ 1,369,728 Total $ 7,041,957 Goodwill and Other Intangible Assets Goodwill and other intangible assets have been recorded on the books of the Corporation in connection with acquisitions. The Corporation has core deposit and customer-related intangibles, which are not deemed to have an indefinite life and therefore will continue to be amortized over their useful life using the present value of projected cash flows. The amortization of core deposit and customer-related intangibles was $92 thousand and $131 thousand for the three months ended June 30, 2026 and 2025, respectively. The amortization of core deposit and customer-related intangibles was $185 thousand and $261 thousand for the six months ended June 30, 2026 and 2025, respectively. See Note 5 to the Condensed Unaudited 60 Table of Contents Consolidated Financial Statements, "Goodwill and Other Intangible Assets," for a summary of intangible assets at June 30, 2026 and December 31, 2025. The Corporation also has goodwill with a net carrying value of $175.5 million at June 30, 2026 and December 31, 2025, which is deemed to be an indefinite intangible asset and is not amortized. The Corporation completes a goodwill impairment analysis on an annual basis, or more often if events and circumstances indicate that there may be impairment. The Corporation also completes an impairment test for other identifiable intangible assets on an annual basis or more often if events and circumstances indicate there may be impairment. There was no impairment of goodwill or identifiable intangibles during the six months ended June 30, 2026 or 2025. There can be no assurance that future impairment assessments or tests will not result in a charge to earnings. Liabilities The following table presents liabilities at the dates indicated: (Dollars in thousands) At June 30, 2026 At December 31, 2025 Change Amount Percent Deposits $ 6,933,008 $ 7,087,313 $ (154,305) (2.2 %) Short-term borrowings 18,826 24,411 (5,585) (22.9) Long-term debt 125,000 200,000 (75,000) (37.5) Subordinated notes 98,994 98,867 127 0.1 Operating lease liabilities 26,863 28,531 (1,668) (5.8) Accrued interest payable and other liabilities 46,048 54,457 (8,409) (15.4) Total liabilities $ 7,248,739 $ 7,493,579 $ (244,840) (3.3 %) Deposits Total deposits decreased $154.3 million, or 2.2%, from December 31, 2025 primarily due to decreases in consumer and public funds deposits, partially offset by increases in commercial and brokered deposits. At June 30, 2026, noninterest-bearing deposits totaling $1.5 billion represented 21.1% of total deposits compared to $1.4 billion representing 20.2% of total deposits at December 31, 2025. At June 30, 2026 and December 31, 2025, unprotected deposits, which exclude insured, internal, and collateralized deposit accounts, totaled $1.7 billion and $1.6 billion, respectively, which represented 24.6% and 23.2% of total deposits for the respective periods. Borrowings Total borrowings decreased $80.5 million, or 24.9%, from December 31, 2025, primarily due to maturities of long-term FHLB advances totaling $100.0 million, offset by a $25.0 million long-term FHLB advance, and a $5.6 million decrease in customer repurchase agreements. Other Liabilities Other liabilities decreased $8.4 million, or 15.4%, from December 31, 2025, primarily due to the payment of previously accrued annual incentive compensation. 61 Table of Contents Shareholders’ Equity The following table presents total shareholders’ equity at the dates indicated: (Dollars in thousands) At June 30, 2026 At December 31, 2025 Change Amount Percent Common stock $ 157,784 $ 157,784 $ — — % Additional paid-in capital 302,549 304,021 (1,472) (0.5) Retained earnings 628,327 591,202 37,125 6.3 Accumulated other comprehensive loss (26,728) (25,467) (1,261) 5.0 Treasury stock (107,679) (84,222) (23,457) 27.9 Total shareholders’ equity $ 954,253 $ 943,318 $ 10,935 1.2 % Total shareholders' equity increased $10.9 million, or 1.2%, from December 31, 2025. Retained earnings at June 30, 2026 increased by $37.1 million primarily due to net income of $50.0 million offset by $12.6 million in cash dividends paid during the six months ended June 30, 2026. Accumulated other comprehensive loss increased by $1.3 million, which was primarily attributable to decreases in the fair value of available-for-sale investment securities of $1.9 million, net of tax. Treasury stock increased $23.5 million from December 31, 2025, related to repurchases of 776,677 shares at a cost of $28.5 million, offset by $5.1 million of stock issued under the dividend reinvestment and employee stock purchase plans and stock-based incentive plan activity. Discussion of Segments The Corporation has three operating segments: Banking, Wealth Management and Insurance. Detailed segment information appears in Note 13, "Segment Reporting" included in the Notes to the Condensed Unaudited Consolidated Financial Statements under Item 1 of this Quarterly Report on Form 10-Q. The Banking segment reported pre-tax income of $28.1 million and $26.6 million for the three months ended June 30, 2026 and 2025, respectively, and pre-tax income of $57.2 million and $52.7 million for the six months ended June 30, 2026 and 2025, respectively. See the section of this Management's Discussion and Analysis under the headings "Results of Operations" and "Financial Condition" for a discussion of key items impacting the Banking Segment. The Wealth Management segment reported pre-tax income of $2.4 million and $1.8 million for the three months ended June 30, 2026 and 2025, respectively, which included noninterest income of $8.4 million in 2026 and $7.7 million in 2025, and pre-tax income of $4.9 million and $3.8 million for the six months ended June 30, 2026 and 2025, respectively, which included noninterest income of $16.9 million in 2026 and $15.5 million in 2025. The increase in pre-tax income and noninterest income for the three and six months ended June 30, 2026 was driven by appreciation in assets under management compared to the previous year and new customer relationships. Assets under management and supervision were $6.2 billion as of June 30, 2026, $5.8 billion as of March 31, 2026, $5.4 billion as of June 30, 2025 and $5.2 billion as of March 31, 2025. The Insurance segment reported pre-tax income of $1.1 million and $964 thousand for the three months ended June 30, 2026 and 2025, respectively, which included noninterest income of $5.4 million in 2026 and $5.3 million in 2025, and pre-tax income of $4.1 million and $3.4 million for the six months ended June 30, 2026 and 2025, respectively, which included noninterest income of $12.8 million in 2026 and $12.2 million in 2025. The increase in pre-tax income and noninterest income for the three months ended June 30, 2026 was primarily due to an increase of $154 thousand in life and health overrides, partially offset by a decrease of $74 thousand in premiums on commercial lines. The increase in pre-tax income and noninterest income for the six months ended June 30, 2026 was primarily due to increases of $268 thousand and $161 thousand in premiums on commercial lines and life and health overrides, respectively. Additionally, contingent income increased $208 thousand for the six months ended June 30, 2026, from $1.6 million for the six months ended June 30, 2025 to $1.8 million for the six months ended June 30, 2026. Contingent income is largely recognized in the first quarter of the year. Capital Adequacy Quantitative measures established by regulation to ensure capital adequacy require the Corporation and the Bank to maintain minimum capital amounts and ratios as set forth in the following table. To comply with the regulatory definition of well capitalized, a depository institution must maintain minimum capital amounts and ratios as set forth in the following table. 62 Table of Contents Under current rules, in order to avoid limitations on capital distributions (including dividend payments and certain discretionary bonus payments to executive officers), a banking organization must hold a capital conservation buffer comprised of common equity Tier 1 capital above its minimum risk-based capital requirements in an amount greater than 2.50% of total risk-weighted assets. The Corporation's and Bank's intent is to maintain capital levels in excess of the capital conservation buffer, which requires Tier 1 Capital to Risk Weighted Assets to exceed 8.50% and Total Capital to Risk Weighted Assets to exceed 10.50%. The Corporation and the Bank were in compliance with these requirements at June 30, 2026. Table 5—Regulatory Capital The Corporation's and Bank's actual and required capital ratios as of June 30, 2026 and December 31, 2025 under regulatory capital rules were as follows. Actual For Capital Adequacy Purposes To Be Well-Capitalized Under Prompt Corrective Action Provisions (Dollars in thousands) Amount Ratio Amount Ratio Amount Ratio At June 30, 2026 Total Capital (to Risk-Weighted Assets): Corporation $ 999,314 13.81 % $ 578,803 8.00 % $ 723,503 10.00 % Bank 864,104 12.01 575,776 8.00 719,720 10.00 Tier 1 Capital (to Risk-Weighted Assets): Corporation 809,848 11.19 434,102 6.00 578,803 8.00 Bank 774,099 10.76 431,832 6.00 575,776 8.00 Tier 1 Common Capital (to Risk-Weighted Assets): Corporation 809,848 11.19 325,576 4.50 470,277 6.50 Bank 774,099 10.76 323,874 4.50 467,818 6.50 Tier 1 Capital (to Average Assets): Corporation 809,848 10.13 319,627 4.00 399,534 5.00 Bank 774,099 9.73 318,293 4.00 397,866 5.00 At December 31, 2025 Total Capital (to Risk-Weighted Assets): Corporation $ 985,345 13.86 % $ 568,568 8.00 % $ 710,709 10.00 % Bank 846,416 11.97 565,684 8.00 707,106 10.00 Tier 1 Capital (to Risk-Weighted Assets): Corporation 797,595 11.22 426,426 6.00 568,568 8.00 Bank 757,978 10.72 424,263 6.00 565,684 8.00 Tier 1 Common Capital (to Risk-Weighted Assets): Corporation 797,595 11.22 319,819 4.50 461,961 6.50 Bank 757,978 10.72 318,197 4.50 459,619 6.50 Tier 1 Capital (to Average Assets): Corporation 797,595 9.51 335,451 4.00 419,314 5.00 Bank 757,978 9.07 334,260 4.00 417,825 5.00 At June 30, 2026 and December 31, 2025, the Corporation and the Bank continued to meet all capital adequacy requirements to which they are subject. At June 30, 2026, the Bank was categorized as "well capitalized" under the regulatory framework for prompt corrective action. There are no conditions or events that management believes have changed the Bank’s category subsequent to June 30, 2026. Asset/Liability Management The primary functions of Asset/Liability Management are to minimize interest rate risk and to ensure adequate earnings, capital and liquidity while maintaining an appropriate balance of interest-earning assets and interest-bearing liabilities. Management's objective with regard to interest rate risk is to understand the Corporation's sensitivity to changes in interest rates and develop and implement strategies to minimize volatility while maximizing net interest income. 63 Table of Contents The Corporation uses gap analysis and earnings at risk simulation modeling to quantify exposure to interest rate risk. The Corporation uses the gap analysis to identify and monitor long-term rate exposure and uses a risk simulation model to measure short-term rate exposure. The Corporation runs various earnings simulation scenarios to quantify the impact of declining or rising interest rates on net interest income over a one- and two-year horizon. The simulations use expected cash flows and repricing characteristics for all financial instruments at a point in time and incorporate company-developed, market-based assumptions regarding growth, pricing, and optionality such as prepayment speeds. As interest rates increase, fixed-rate assets tend to decrease in value; conversely, as interest rates decline, fixed-rate assets tend to increase in value. Liquidity The Corporation, in its role as a financial intermediary, is exposed to certain liquidity risks. Liquidity refers to the Corporation's ability to ensure that sufficient cash flows and liquid assets are available to satisfy demand for loans, deposit withdrawals, repayment of borrowings, certificates of deposit at maturity, operating expenses and capital expenditures. The Corporation manages liquidity risk by measuring and monitoring liquidity sources and estimated funding needs on a daily basis. The Corporation has a contingency funding plan in place to address liquidity needs in the event of an institution-specific or a systemic financial crisis. The Corporation and its subsidiaries maintain ample ability to meet the liquidity needs of its customers. Our most liquid assets, unencumbered cash and cash equivalents, were $193.8 million and $549.2 million at June 30, 2026 and December 31, 2025, respectively. Unencumbered securities classified as available-for-sale, which provide additional sources of liquidity, totaled $51.7 million and $37.3 million at June 30, 2026 and December 31, 2025, respectively. Further, the Corporation and its subsidiaries had committed borrowing capacity from the Federal Home Loan Bank, Federal Reserve Bank and a correspondent bank of $3.7 billion and $3.8 billion at June 30, 2026 and December 31, 2025, respectively, of which $2.4 billion and $2.3 billion was available as of June 30, 2026 and December 31, 2025, respectively. The Corporation and its subsidiaries also maintained uncommitted funding sources from correspondent banks of $422.0 million and $457.0 million at June 30, 2026 and December 31, 2025, respectively. Future availability under these uncommitted funding sources is subject to the prerogatives of the granting banks and may be withdrawn at will. Sources of Funds Non-brokered deposits continue to be the largest funding source for the Corporation. These deposits are primarily generated from individuals, businesses, public funds and non-profit customers located in our primary service areas. The Corporation faces increased competition for these deposits from a large array of financial market participants, including banks, credit unions, savings institutions, mutual funds, security dealers and others. As part of its diversified funding strategy, the Corporation also utilizes a mix of short-term and long-term wholesale funding providers. Wholesale funding includes federal funds purchases from correspondent banks, secured borrowing lines from the Federal Home Loan Bank of Pittsburgh and the Federal Reserve Bank of Philadelphia, and brokered deposits and other similar sources. Cash Requirements The Corporation has cash requirements for various financial obligations, including contractual obligations and commitments that require cash payments. The most significant contractual obligations, in both the under and over one-year time period, are for the Bank to repay certificates of deposit and short- and long-term borrowings. Certificates of deposit due within one year of June 30, 2026 totaled $1.0 billion. If these deposits do not remain with the Bank, the Bank will be required to seek other sources of funds, which may be expensive to obtain. The Bank anticipates meeting these obligations by utilizing on-balance sheet liquidity and continuing to provide convenient depository and cash management services through its financial center network, thereby replacing these contractual obligations with similar funding sources at rates that are competitive in our market. The Bank may also use borrowings and brokered deposits to meet its obligations. Commitments to extend credit are the Bank’s most significant commitments in both the under and over one-year time periods. These commitments do not necessarily represent future cash requirements in that these commitments often expire without being drawn upon. 64 Table of Contents Recent Accounting Pronouncements For information regarding recent accounting pronouncements, refer to Note 1 to the Condensed Consolidated Financial Statements, "Summary of Significant Accounting Policies."