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Old National Bancorp Reports Fourth Quarter and
Full-Year 2025 Results
Evansville, Ind. (January 21, 2026)
Old National Bancorp (NASDAQ: ONB) reports 4Q25 net income applicable to common shares of $212.6 million, diluted EPS of $0.55; $241.0 million and $0.62 on an adjusted1 basis, respectively. Full-year net income applicable to common shares of $653.1 million, diluted EPS of $1.79; $808.6 million and $2.21 on an adjusted1 basis, respectively.
CEO COMMENTARY:
"Old National’s strong fourth quarter earnings punctuate an exceptional year that set new organizational records for adjusted earnings per share, net income, and efficiency ratio," said Chairman and CEO Jim Ryan. "Our 2025 results were driven by a focus on fundamentals – core deposit growth to support loan expansion, positive operating leverage, disciplined credit management, and healthy liquidity and capital ratios."
FOURTH QUARTER HIGHLIGHTS2:
Net Income
•Net income applicable to common shares of $212.6 million; adjusted net income applicable to common shares1 of $241.0 million
•Earnings per diluted common share ("EPS") of $0.55; adjusted EPS1 of $0.62
Net Interest Income/NIM
•Net interest income on a fully taxable equivalent basis1 of $588.8 million
•Net interest margin on a fully taxable equivalent basis1 ("NIM") of 3.65%, up 1 basis point ("bp")
Operating Performance
•Pre-provision net revenue1 ("PPNR") of $312.3 million; adjusted PPNR1 of $349.6 million, up 4%
•Noninterest expense of $386.3 million; adjusted noninterest expense1 of $364.8 million
•Efficiency ratio1 of 51.6%; adjusted efficiency ratio1 of 46.0%
Deposits and Funding
•Period-end total deposits of $55.1 billion, up 0.6% annualized; core deposits down 3.2% annualized
•Granular low-cost deposit franchise; total deposit costs of 180 bps, down 17 bps
Loans and Credit Quality
•End-of-period total loans3 of $48.8 billion, up $768.8 million or 6.4% annualized
•Provision for credit losses4 ("provision") of $32.7 million
•Net charge-offs of $32.1 million, or 27 bps of average loans; 16 bps excluding purchased credit deteriorated ("PCD") loans that had an allowance at acquisition
•30+ day delinquencies of 0.22% and nonaccrual loans of 1.07% of total loans
Return Profile & Capital
•Return on average tangible common equity1 ("ROATCE") of 17.8%; adjusted ROATCE1 of 19.9%
•Preliminary regulatory Tier 1 common equity to risk-weighted assets of 11.08%, up 6 bps
Notable Items
•$24.5 million of pre-tax merger-related charges
•$15.9 million of pre-tax pension plan loss5
•$3.0 million pre-tax reduction to previously accrued FDIC special assessment6
1 Non-GAAP financial measure that management believes is useful in evaluating the financial results of the Company – refer to the Non-GAAP reconciliations contained in this release 2 Comparisons are on a linked-quarter basis, unless otherwise noted 3 Includes loans held-for-sale 4 Includes the provision for unfunded commitments 5 Includes a loss associated with the termination of the Bremer pension plan 6 Represents the Company's estimate of its FDIC special assessment using the FDIC's updated estimate of losses to its Deposit Insurance Fund


RESULTS OF OPERATIONS2
Old National Bancorp reported fourth quarter 2025 net income applicable to common shares of $212.6 million, or $0.55 per diluted common share.
Included in fourth quarter results were pre-tax charges of $24.5 million for merger-related expenses, a $15.9 million pre-tax loss5 associated with the termination of the Bremer pension plan and a $3.0 million pre-tax reduction to previously accrued FDIC special assessment6. Excluding these items and realized debt securities gains from the current quarter, adjusted net income1 was $241.0 million, or $0.62 per diluted common share.
DEPOSITS AND FUNDING
Increases in private banking and community deposits were more than offset by seasonal outflows of public funds.
•Period-end total deposits were $55.1 billion, up 0.6% annualized; core deposits down 3.2% annualized.
•On average, total deposits for the fourth quarter were $55.1 billion, up $0.2 billion.
•Granular low-cost deposit franchise; total deposit costs of 180 bps, down 17 bps.
•A loan to deposit ratio of 89%, combined with existing funding sources, provides strong liquidity.

LOANS
Loan growth driven by strong commercial loan production.
•Period-end total loans3 were $48.8 billion, up $768.8 million or 6.4% annualized, including commercial and industrial loan growth of $477.5 million.
•Total commercial loan production in the fourth quarter was $3.5 billion, up 25%; period-end commercial pipeline totaled $4.8 billion, up 15%.
•Average total loans in the fourth quarter were $48.2 billion, consistent with the third quarter of 2025.

CREDIT QUALITY
Credit quality continues to be a hallmark of Old National.
•Provision4 expense was $32.7 million compared to $26.7 million.
•Net charge-offs were $32.1 million, or 27 bps of average loans, compared to 24 bps.
◦Excluding PCD loans that had an allowance for credit losses established at acquisition, net charge-offs to average loans were 16 bps compared to 17 bps.
•30+ day delinquencies as a percentage of loans were 0.22% compared to 0.18%.
•Nonaccrual loans as a percentage of total loans were 1.07% compared to 1.23%.
•The allowance for credit losses, including the allowance for credit losses on unfunded loan commitments, stood at $605.2 million, or 1.24% of total loans, compared to $604.5 million, or 1.26% of total loans.

NET INTEREST INCOME AND MARGIN
Higher net interest income reflective of growth in interest-earning assets and lower funding costs.
•Net interest income on a fully taxable equivalent basis1 increased to $588.8 million compared to $582.6 million, driven by growth in earning assets and lower funding costs, partly offset by lower asset yields.
•Net interest margin on a fully taxable equivalent basis1 increased 1 bps to 3.65%.
•Cost of total deposits was 1.80%, decreasing 17 bps and the cost of total interest-bearing deposits decreased 19 bps to 2.38%.

NONINTEREST INCOME
Record capital markets and higher mortgage banking revenue offset by lower other income.
•Total noninterest income was $109.7 million, $125.6 million excluding a $15.9 million pre-tax loss associated with the termination of the Bremer pension plan, compared to $130.5 million in the third quarter of 2025.
•Excluding the pension plan loss in the fourth quarter of 2025 and realized debt securities gains, noninterest income was down 3.7% driven by lower other income, which was elevated in the prior quarter, partly offset by record capital markets and higher mortgage banking revenue.

2

NONINTEREST EXPENSE
Lower reflective of the impact of Bremer cost savings; disciplined expense management drives record adjusted efficiency ratio.
•Noninterest expense was $386.3 million and included $24.5 million of merger-related charges as well as a $3.0 million pre-tax reduction of previously accrued FDIC special assessment.
•Excluding the above noted items, adjusted noninterest expense1 was $364.8 million, compared to $376.5 million, driven by cost savings associated with the Bremer transaction.
•The efficiency ratio1 was 51.6%, while the adjusted efficiency ratio1 was 46.0% compared to 58.8% and 48.1%, respectively.

INCOME TAXES
•Income tax expense was $54.9 million, resulting in an effective tax rate of 20.2% compared to 21.5%. On an adjusted fully taxable equivalent ("FTE") basis, the effective tax rate was 22.7% compared to 24.0%.
◦Lower effective tax rate was driven by the finalization of federal and state tax returns in the quarter.
•Income tax expense included $10.5 million of tax credit benefit compared to $7.8 million.

CAPITAL
Capital ratios remain strong.
•Preliminary total risk-based capital up 7 bps to 12.85% and preliminary regulatory Tier 1 capital up 4 bps to 11.53%, as strong retained earnings drive capital, partly offset by growth in loans.
•Tangible common equity to tangible assets was 7.72%, up 2.5%.
•The Company repurchased 1.1 million shares of common stock during the quarter.

CONFERENCE CALL AND WEBCAST
Old National will host a conference call and live webcast at 9:00 a.m. Central Time on Wednesday, January 21, 2026, to review fourth quarter and full-year financial results. The live audio webcast link and corresponding presentation slides will be available on the Company’s Investor Relations website at oldnational.com and will be archived there for 12 months. To listen to the live conference call, dial U.S. (800) 715-9871 or International (646) 307-1963, access code 9394540. The telephone replay will be available approximately one hour after completion of the call until midnight Eastern Time on February 4, 2026. To access the replay, dial U.S. (800) 770-2030 or International (609) 800-9909; Access code 9394540.
ABOUT OLD NATIONAL
Old National Bancorp (NASDAQ: ONB) is the holding company of Old National Bank. As the sixth largest commercial bank headquartered in the Midwest, Old National proudly serves clients primarily in the Midwest and Southeast. With approximately $72 billion of assets and $37 billion of assets under management, Old National ranks among the top 25 banking companies headquartered in the United States. Tracing our roots to 1834, Old National focuses on building long-term, highly valued partnerships with clients while also strengthening and supporting the communities we serve. In addition to providing extensive services in consumer and commercial banking, Old National offers comprehensive wealth management and capital markets services. For more information and financial data, please visit Investor Relations at oldnational.com. In 2025, Points of Light named Old National one of "The Civic 50" - an honor reserved for the 50 most community-minded companies in the United States.
USE OF NON-GAAP FINANCIAL MEASURES
The Company's accounting and reporting policies conform to U.S. generally accepted accounting principles ("GAAP") and general practices within the banking industry. As a supplement to GAAP, the Company provides non-GAAP performance results, which the Company believes are useful because they assist investors in assessing the Company's operating performance. Where non-GAAP financial measures are used, the comparable GAAP financial measure, as well as the reconciliation to the comparable GAAP financial measure, can be found in the tables at the end of this release.
The Company presents EPS, the efficiency ratio, return on average common equity, return on average tangible common equity, and net income applicable to common shares, all adjusted for certain notable items. These items include merger-related charges associated with completed and pending acquisitions, a pension plan gain/loss, FDIC special assessment expense, debt securities gains/losses, CECL Day 1 non-PCD provision expense, distribution of excess pension assets expense, and separation expense. Management believes excluding these items from EPS, the efficiency ratio, return on
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average common equity, and return on average tangible common equity may be useful in assessing the Company's underlying operational performance since these items do not pertain to its core business operations and their exclusion may facilitate better comparability between periods. Management believes that excluding merger-related charges from these metrics may be useful to the Company, as well as analysts and investors, since these expenses can vary significantly based on the size, type, and structure of each acquisition. Additionally, management believes excluding these items from these metrics may enhance comparability for peer comparison purposes.
Income tax expense, provision for credit losses, and the certain notable items listed above are excluded from the calculation of pre-provision net revenues, adjusted due to the fluctuation in income before income tax and the level of provision for credit losses required. Management believes adjusted pre-provision net revenues may be useful in assessing the Company's underlying operating performance and their exclusion may facilitate better comparability between periods and for peer comparison purposes.
The Company presents adjusted noninterest expense, which excludes merger-related charges associated with completed and pending acquisitions, FDIC special assessment expense, distribution of excess pension assets expense, and separation expense, as well as adjusted noninterest income, which excludes a pension plan gain/loss and debt securities gains/losses. Management believes that excluding these items from noninterest expense and noninterest income may be useful in assessing the Company’s underlying operational performance as these items either do not pertain to its core business operations or their exclusion may facilitate better comparability between periods and for peer comparison purposes.
The tax-equivalent adjustment to net interest income and net interest margin recognizes the income tax savings when comparing taxable and tax-exempt assets. Interest income and yields on tax-exempt securities and loans are presented using the current federal income tax rate of 21%. Management believes that it is standard practice in the banking industry to present net interest income and net interest margin on a fully tax-equivalent basis and that it may enhance comparability for peer comparison purposes.
In management's view, tangible common equity measures are capital adequacy metrics that may be meaningful to the Company, as well as analysts and investors, in assessing the Company's use of equity and in facilitating comparisons with peers. These non-GAAP measures are valuable indicators of a financial institution's capital strength since they eliminate intangible assets from stockholders' equity and retain the effect of accumulated other comprehensive loss in stockholders' equity.
Although intended to enhance investors' understanding of the Company's business and performance, these non-GAAP financial measures should not be considered an alternative to GAAP. In addition, these non-GAAP financial measures may differ from those used by other financial institutions to assess their business and performance. See the following reconciliations in the "Non-GAAP Reconciliations" section for details on the calculation of these measures to the extent presented herein.
FORWARD-LOOKING STATEMENTS
This earnings release contains certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the “Act”), Section 27A of the Securities Act of 1933 and Rule 175 promulgated thereunder, and Section 21E of the Securities Exchange Act of 1934 and Rule 3b-6 promulgated thereunder, notwithstanding that such statements are not specifically identified as such. In addition, certain statements may be contained in our future filings with the Securities and Exchange Commission ("SEC"), in press releases, and in oral and written statements made by us that are not statements of historical fact and constitute forward‐looking statements within the meaning of the Act. These statements include, but are not limited to, descriptions of Old National’s financial condition, results of operations, asset and credit quality trends, profitability and business plans or opportunities. Forward-looking statements can be identified by the use of words such as "anticipate," "believe," "contemplate," "continue," "could," "estimate," "expect," "guidance," "intend," "may," "outlook," "plan," "potential," "predict," "should," "would," and "will," and other words of similar meaning. These forward-looking statements express management’s current expectations or forecasts of future events and, by their nature, are subject to risks and uncertainties. There are a number of factors that could cause actual results or outcomes to differ materially from those in such statements, including, but not limited to: competition; government legislation, regulations and policies, including trade and tariff policies; the ability of Old National to execute its business plan; unanticipated changes in our liquidity position, including but not limited to changes in our access to sources of liquidity and capital to address our liquidity needs; changes in economic conditions and economic and business uncertainty which could materially impact credit quality trends and the ability to generate loans and gather deposits; inflation and governmental responses to inflation, including increasing interest rates; market, economic, operational, liquidity, credit, and interest rate risks associated with
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our business; our ability to successfully manage our credit risk and the sufficiency of our allowance for credit losses; the expected cost savings, synergies and other financial benefits from the merger (the “Merger”) between Old National and Bremer not being realized within the expected time frames and costs or difficulties relating to integration matters being greater than expected; potential adverse reactions or changes to business or employee relationships, including those resulting from the Merger; the impact of purchase accounting with respect to the Merger, or any change in the assumptions used regarding the assets acquired and liabilities assumed to determine their fair value and credit marks; the potential impact of future business combinations on our performance and financial condition, including our ability to successfully integrate the businesses, the success of revenue-generating and cost reduction initiatives and the diversion of management’s attention from ongoing business operations and opportunities; failure or circumvention of our internal controls; operational risks or risk management failures by us or critical third parties, including without limitation with respect to data processing, information systems, cybersecurity, technological changes, vendor issues, business interruption, and fraud risks; significant changes in accounting, tax or regulatory practices or requirements; new legal obligations or liabilities; disruptive technologies in payment systems and other services traditionally provided by banks; failure or disruption of our information systems; computer hacking and other cybersecurity threats; the effects of climate change on Old National and its customers, borrowers, or service providers; the impacts of pandemics, epidemics and other infectious disease outbreaks; other matters discussed in this earnings release; and other factors identified in our Annual Report on Form 10-K for the year ended December 31, 2024 and other filings with the SEC. These forward-looking statements are based on assumptions and estimates, which although believed to be reasonable, may turn out to be incorrect. Old National does not undertake an obligation to update these forward-looking statements to reflect events or conditions after the date of this earnings release. You are advised to consult further disclosures we may make on related subjects in our filings with the SEC.

CONTACTS:
Media: Rick JillsonInvestors: Lynell Durchholz
(812) 465-7267(812) 464-1366
Rick.Jillson@oldnational.com
Lynell.Durchholz@oldnational.com
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Financial Highlights (unaudited)
($ and shares in thousands, except per share data)
Three Months EndedTwelve Months Ended
December 31,September 30,June 30,March 31,December 31,December 31,December 31,
2025202520252025202420252024
Income Statement
Net interest income$580,832 $574,609 $514,790 $387,643 $394,180 $2,057,874 $1,530,783 
FTE adjustment1,3
8,013 7,975 7,063 5,360 5,777 28,411 24,514 
Net interest income - tax equivalent basis3
588,845 582,584 521,853 393,003 399,957 2,086,285 1,555,297 
Provision for credit losses32,745 26,738 106,835 31,403 27,017 197,721 110,619 
Noninterest income109,759 130,461 132,517 93,794 95,766 466,531 354,697 
Noninterest expense386,320 445,734 384,766 268,471 276,824 1,485,291 1,094,423 
Net income available to common shareholders$212,589 $178,533 $121,375 $140,625 $149,839 $653,122 $523,053 
Per Common Share Data
Weighted average diluted shares389,550 390,496 361,436 321,016 318,803 365,464 311,001 
EPS, diluted$0.55 $0.46 $0.34 $0.44 $0.47 $1.79 $1.68 
Cash dividends0.14 0.14 0.14 0.14 0.14 0.56 0.56 
Dividend payout ratio2
25 %30 %41 %32 %30 %31 %33 %
Book value$21.17 $20.64 $20.12 $19.71 $19.11 $21.17 $19.11 
Stock price22.31 21.95 21.34 21.19 21.71 22.31 21.71 
Tangible book value3
13.71 13.15 12.60 12.54 11.91 13.71 11.91 
Performance Ratios
ROAA1.21 %1.03 %0.77 %1.08 %1.14 %1.02 %1.03 %
ROAE10.4 %9.0 %6.7 %9.1 %9.8 %8.9 %9.1 %
ROATCE3
17.8 %15.9 %12.0 %15.0 %16.4 %15.3 %15.4 %
NIM (FTE)3
3.65 %3.64 %3.53 %3.27 %3.30 %3.54 %3.31 %
Efficiency ratio3
51.6 %58.8 %55.8 %53.7 %54.4 %55.1 %55.9 %
NCOs to average loans0.27 %0.25 %0.24 %0.24 %0.21 %0.25 %0.17 %
ACL on loans to EOP loans1.17 %1.19 %1.18 %1.10 %1.08 %1.17 %1.08 %
ACL4 to EOP loans
1.24 %1.26 %1.24 %1.16 %1.14 %1.24 %1.14 %
NPLs to EOP loans1.07 %1.23 %1.24 %1.29 %1.23 %1.07 %1.23 %
Balance Sheet (EOP)
Total loans$48,764,162$47,967,915$47,902,819$36,413,944$36,285,887$48,764,162$36,285,887
Total assets72,151,96771,210,16270,979,80553,877,94453,552,27272,151,96753,552,272
Total deposits55,088,19555,006,18454,357,68341,034,57240,823,56055,088,19540,823,560
Total borrowed funds7,451,3676,766,3817,346,0985,447,0545,411,5377,451,3675,411,537
Total shareholders' equity8,494,7888,309,2718,126,3876,534,6546,340,3508,494,7886,340,350
Capital Ratios3
Risk-based capital ratios (EOP):
Tier 1 common equity11.08 %11.02 %10.74 %11.62 %11.38 %11.08 %11.38 %
Tier 1 capital11.53 %11.49 %11.20 %12.23 %11.98 %11.53 %11.98 %
Total capital12.85 %12.78 %12.59 %13.68 %13.37 %12.85 %13.37 %
Leverage ratio (average assets)8.90 %8.72 %9.26 %9.44 %9.21 %8.90 %9.21 %
Equity to assets (averages)11.73 %11.48 %11.38 %12.01 %11.78 %11.63 %11.51 %
TCE to TA7.72 %7.53 %7.26 %7.76 %7.41 %7.72 %7.41 %
Nonfinancial Data
Full-time equivalent employees 4,9715,2435,3134,0284,0664,9714,066
Banking centers346351351280280346280
1 Calculated using the federal statutory tax rate in effect of 21% for all periods.
2 Cash dividends per common share divided by net income per common share (basic).
3 Represents a non-GAAP financial measure. Refer to the "Non-GAAP Measures" table for reconciliations to GAAP financial measures.
4 Includes the allowance for credit losses on loans and unfunded loan commitments.
December 31, 2025 capital ratios are preliminary.
FTE - Fully taxable equivalent basis ROAA - Return on average assets ROAE - Return on average equity ROATCE - Return on average tangible common equity NCOs - Net Charge-offs ACL - Allowance for Credit Losses EOP - End of period actual balances NPLs - Non-performing Loans TCE - Tangible common equity TA - Tangible assets
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Income Statement (unaudited)
($ and shares in thousands, except per share data)
Three Months EndedTwelve Months Ended
December 31,September 30,June 30,March 31,December 31,December 31,December 31,
2025202520252025202420252024
Interest income$897,301 $917,192 $824,961 $630,399 $662,082 $3,269,853 $2,601,651 
Less: interest expense316,469 342,583 310,171 242,756 267,902 1,211,979 1,070,868 
 Net interest income580,832 574,609 514,790 387,643 394,180 2,057,874 1,530,783 
Provision for credit losses32,745 26,738 106,835 31,403 27,017 197,721 110,619 
 Net interest income
  after provision for credit losses		548,087 547,871 407,955 356,240 367,163 1,860,153 1,420,164 
Wealth and investment services fees39,012 39,684 35,817 29,648 30,012 144,161 116,791 
Service charges on deposit accounts27,516 27,856 23,878 21,156 20,577 100,406 78,175 
Debit card and ATM fees13,178 13,197 12,922 9,991 10,991 49,288 43,400 
Mortgage banking revenue11,053 10,442 10,032 6,879 7,026 38,406 26,237 
Capital markets income13,080 12,629 7,114 4,506 5,244 37,329 20,299 
Company-owned life insurance7,099 7,565 6,625 5,381 6,499 26,670 20,987 
Other income(1,252)19,081 36,170 16,309 15,539 70,308 49,020 
Debt securities gains (losses), net73 7 (41)(76)(122)(37)(212)
Total noninterest income109,759 130,461 132,517 93,794 95,766 466,531 354,697 
Salaries and employee benefits187,251 211,345 202,112 148,305 146,605 749,013 603,095 
Occupancy35,243 34,442 30,432 29,053 29,733 129,170 110,429 
Equipment14,184 12,703 12,566 8,901 9,325 48,354 36,588 
Marketing14,418 15,093 13,759 11,940 12,653 55,210 45,607 
Technology30,882 36,122 31,452 22,020 21,429 120,476 88,797 
Communication6,726 7,742 5,014 4,134 4,176 23,616 17,337 
Professional fees18,454 13,598 21,931 7,919 11,055 61,902 35,291 
FDIC assessment11,190 14,095 13,409 9,700 11,970 48,394 44,681 
Amortization of intangibles26,016 26,184 19,630 6,830 7,237 78,660 27,528 
Amortization of tax credit investments9,822 7,057 5,815 3,424 4,556 26,118 13,329 
Other expense32,134 67,353 28,646 16,245 18,085 144,378 71,741 
 Total noninterest expense386,320 445,734 384,766 268,471 276,824 1,485,291 1,094,423 
  Income before income taxes271,526 232,598 155,706 181,563 186,105 841,393 680,438 
  Income tax expense54,903 50,031 30,298 36,904 32,232 172,136 141,250 
Net income$216,623 $182,567 $125,408 $144,659 $153,873 $669,257 $539,188 
 Preferred dividends(4,034)(4,034)(4,033)(4,034)(4,034)(16,135)(16,135)
Net income applicable to common shares$212,589 $178,533 $121,375 $140,625 $149,839 $653,122 $523,053 
EPS, diluted$0.55 $0.46 $0.34 $0.44 $0.47 $1.79 $1.68 
Weighted Average Common Shares Outstanding
    Basic387,862389,038360,155315,925315,673363,513309,499
    Diluted389,550390,496361,436321,016318,803365,464311,001
Common shares outstanding (EOP)389,662390,768391,818319,236318,980389,662318,980
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End of Period Balance Sheet (unaudited)
($ in thousands)
December 31,September 30,June 30,March 31,December 31,
20252025202520252024
Assets
Cash and due from banks$591,645 $491,910 $637,556 $486,061 $394,450 
Money market and other interest-earning investments1,234,532 1,190,707 1,171,015 753,719 833,518 
Investments:
Treasury and government-sponsored agencies2,427,371 2,402,375 2,445,733 2,364,170 2,289,903 
Mortgage-backed securities10,078,358 10,117,015 9,632,206 6,458,023 6,175,103 
States and political subdivisions1,570,888 1,579,802 1,590,272 1,589,555 1,637,379 
Other securities825,761 849,911 852,687 755,348 781,656 
Total investments14,902,378 14,949,103 14,520,898 11,167,096 10,884,041 
Loans held-for-sale, at fair value52,911 80,341 77,618 40,424 34,483 
Loans:
Commercial14,983,861 14,506,375 14,662,916 10,650,615 10,288,560 
Commercial and agriculture real estate22,050,007 22,083,734 21,879,785 16,135,327 16,307,486 
Residential real estate8,467,496 8,190,127 8,212,242 6,771,694 6,797,586 
Consumer3,262,798 3,187,679 3,147,876 2,856,308 2,892,255 
Total loans48,764,162 47,967,915 47,902,819 36,413,944 36,285,887 
Allowance for credit losses on loans(569,520)(572,178)(565,109)(401,932)(392,522)
Premises and equipment, net690,824 691,950 682,539 584,664 588,970 
Goodwill and other intangible assets2,907,986 2,926,960 2,944,372 2,289,268 2,296,098 
Company-owned life insurance1,051,009 1,044,780 1,046,693 859,211 859,851 
Accrued interest receivable and other assets 2,526,040 2,438,674 2,561,404 1,685,489 1,767,496 
Total assets$72,151,967 $71,210,162 $70,979,805 $53,877,944 $53,552,272 
Liabilities and Equity
Noninterest-bearing demand deposits$13,247,483 $12,691,658 $12,652,556 $9,186,314 $9,399,019 
Interest-bearing:
Checking and NOW accounts9,096,662 9,669,551 9,194,738 7,736,014 7,538,987 
Savings accounts4,909,138 4,958,555 5,058,819 4,715,329 4,753,279 
Money market accounts16,175,497 16,739,884 16,564,125 11,638,653 11,807,228 
Other time deposits7,983,949 7,767,698 7,613,377 6,212,898 5,819,970 
Total core deposits51,412,729 51,827,346 51,083,615 39,489,208 39,318,483 
Brokered deposits3,675,466 3,178,838 3,274,068 1,545,364 1,505,077 
Total deposits55,088,195 55,006,184 54,357,683 41,034,572 40,823,560 
Federal funds purchased and interbank borrowings100,197 1 340,246 170 385 
Securities sold under agreements to repurchase261,366 277,594 297,637 290,256 268,975 
Federal Home Loan Bank advances6,237,375 5,663,361 5,835,918 4,514,354 4,452,559 
Other borrowings852,429 825,425 872,297 642,274 689,618 
Total borrowed funds7,451,367 6,766,381 7,346,098 5,447,054 5,411,537 
Accrued expenses and other liabilities1,117,617 1,128,326 1,149,637 861,664 976,825 
Total liabilities63,657,179 62,900,891 62,853,418 47,343,290 47,211,922 
Preferred stock, common stock, surplus, and retained earnings8,973,459 8,833,662 8,725,995 7,183,163 7,086,393 
Accumulated other comprehensive income (loss), net of tax(478,671)(524,391)(599,608)(648,509)(746,043)
Total shareholders' equity8,494,788 8,309,271 8,126,387 6,534,654 6,340,350 
Total liabilities and shareholders' equity$72,151,967 $71,210,162 $70,979,805 $53,877,944 $53,552,272 
8

Average Balance Sheet and Interest Rates (unaudited)
($ in thousands)
Three Months EndedThree Months EndedThree Months Ended
December 31, 2025September 30, 2025December 31, 2024
Average
Income1/
Yield/Average
Income1/
Yield/Average
Income1/
Yield/
Earning Assets:BalanceExpenseRateBalanceExpenseRateBalanceExpenseRate
Money market and other interest-earning investments$1,261,352 $12,411 3.90 %$1,159,564 $12,207 4.18 %$1,072,509 $12,843 4.76 %
Investments:
Treasury and government-sponsored agencies2,417,085 19,907 3.29 %2,391,564 20,721 3.47 %2,325,120 20,841 3.59 %
Mortgage-backed securities10,148,898 106,935 4.21 %9,854,107 105,596 4.29 %6,149,775 50,416 3.28 %
States and political subdivisions1,576,423 13,002 3.30 %1,577,384 13,109 3.32 %1,654,591 13,698 3.31 %
Other securities836,161 12,006 5.74 %874,728 16,265 7.44 %783,708 10,518 5.37 %
Total investments14,978,567 151,850 4.06 %14,697,783 155,691 4.24 %10,913,194 95,473 3.50 %
Loans:2
Commercial14,658,743 237,687 6.49 %14,722,785 249,569 6.78 %10,401,056 176,996 6.81 %
Commercial and agriculture real estate22,020,548 351,761 6.39 %21,999,016 356,014 6.47 %16,326,802 263,062 6.44 %
Residential real estate loans8,310,815 95,981 4.62 %8,287,155 95,129 4.59 %6,814,829 68,346 4.01 %
Consumer3,226,790 55,624 6.84 %3,166,508 56,557 7.09 %2,883,413 51,139 7.06 %
Total loans48,216,896 741,053 6.14 %48,175,464 757,269 6.28 %36,426,100 559,543 6.14 %
Total earning assets$64,456,815 $905,314 5.61 %$64,032,811 $925,167 5.78 %$48,411,803 $667,859 5.52 %
Less: Allowance for credit losses on loans(570,659)(566,102)(382,799)
Non-earning Assets:
Cash and due from banks$558,909 $492,415 $370,932 
Other assets7,111,237 7,177,663 5,402,359 
Total assets$71,556,302 $71,136,787 $53,802,295 
Interest-Bearing Liabilities:
Checking and NOW accounts$9,031,058 $32,515 1.43 %$9,382,625 $36,221 1.53 %$7,338,532 $23,747 1.29 %
Savings accounts4,915,822 3,410 0.28 %5,009,293 3,866 0.31 %4,750,387 4,467 0.37 %
Money market accounts16,577,620 108,754 2.60 %16,674,801 121,886 2.90 %11,900,305 103,818 3.47 %
Other time deposits7,896,718 70,232 3.53 %7,723,441 73,247 3.76 %5,985,911 61,679 4.10 %
Total interest-bearing core deposits38,421,218 214,911 2.22 %38,790,160 235,220 2.41 %29,975,135 193,711 2.57 %
Brokered deposits3,337,026 35,122 4.18 %3,371,269 37,381 4.40 %1,662,698 21,579 5.16 %
Total interest-bearing deposits41,758,244 250,033 2.38 %42,161,429 272,601 2.57 %31,637,833 215,290 2.71 %
Federal funds purchased and interbank borrowings4,593 54 4.66 %157,192 1,816 4.58 %433 23 21.13 %
Securities sold under agreements to repurchase244,732 650 1.05 %289,323 731 1.00 %249,133 584 0.93 %
Federal Home Loan Bank advances5,854,007 56,775 3.85 %5,552,780 57,143 4.08 %4,461,733 43,788 3.90 %
Other borrowings836,908 8,957 4.25 %871,996 10,292 4.68 %669,580 8,217 4.88 %
Total borrowed funds6,940,240 66,436 3.80 %6,871,291 69,982 4.04 %5,380,879 52,612 3.89 %
Total interest-bearing liabilities$48,698,484 $316,469 2.58 %$49,032,720 $342,583 2.77 %$37,018,712 $267,902 2.88 %
Noninterest-Bearing Liabilities and Shareholders' Equity:
Demand deposits$13,318,459 $12,731,654 $9,509,446 
Other liabilities1,148,292 1,203,838 935,184 
Shareholders' equity8,391,067 8,168,575 6,338,953 
Total liabilities and shareholders' equity$71,556,302 $71,136,787 $53,802,295 
Net interest rate spread3.03 %3.01 %2.64 %
Net interest margin (GAAP)3.60 %3.59 %3.26 %
Net interest margin (FTE)3
3.65 %3.64 %3.30 %
FTE adjustment$8,013 $7,975 $5,777 
1 Interest income is reflected on a FTE basis.
2 Includes loans held-for-sale.
3 Represents a non-GAAP financial measure. Refer to the "Non-GAAP Measures" table for reconciliations to GAAP financial measures.
9

Average Balance Sheet and Interest Rates (unaudited)
($ in thousands)
Twelve Months EndedTwelve Months Ended
December 31, 2025December 31, 2024
Average
Income1/
Yield/Average
Income1/
Yield/
Earning Assets:BalanceExpenseRateBalanceExpenseRate
Money market and other interest-earning investments$1,160,460 $48,224 4.16 %$887,771 $45,835 5.16 %
Investments:
Treasury and government-sponsored agencies2,381,350 81,467 3.42 %2,288,053 87,489 3.82 %
Mortgage-backed securities8,728,237 354,788 4.06 %5,829,322 185,633 3.18 %
States and political subdivisions1,590,251 52,755 3.32 %1,672,493 56,006 3.35 %
Other securities863,288 54,553 6.32 %781,969 47,821 6.12 %
Total investments$13,563,126 $543,563 4.01 %$10,571,837 $376,949 3.57 %
Loans:2
Commercial13,270,793 872,297 6.57 %10,166,184 711,562 7.00 %
Commercial and agriculture real estate20,085,105 1,270,132 6.32 %15,698,854 1,028,387 6.55 %
Residential real estate loans7,806,805 347,610 4.45 %6,823,798 266,116 3.90 %
Consumer3,079,678 216,438 7.03 %2,832,823 197,316 6.97 %
Total loans44,242,381 2,706,477 6.12 %35,521,659 2,203,381 6.20 %
Total earning assets$58,965,967 $3,298,264 5.59 %$46,981,267 $2,626,165 5.59 %
Less: Allowance for credit losses on loans(485,792)(348,638)
Non-earning Assets:
Cash and due from banks$463,159 $394,350 
Other assets6,528,184 5,275,427 
Total assets$65,471,518 $52,302,406 
Interest-Bearing Liabilities:
Checking and NOW accounts$8,639,817 $121,877 1.41 %$7,554,510 $112,741 1.49 %
Savings accounts4,897,318 14,661 0.30 %4,919,559 19,922 0.40 %
Money market accounts15,011,269 429,954 2.86 %10,905,756 406,739 3.73 %
Other time deposits7,183,802 267,168 3.72 %5,492,898 230,132 4.19 %
Total interest-bearing core deposits35,732,206 833,660 2.33 %28,872,723 769,534 2.67 %
Brokered deposits2,703,198 119,557 4.42 %1,447,491 76,728 5.30 %
Total interest-bearing deposits38,435,404 953,217 2.48 %30,320,214 846,262 2.79 %
Federal funds purchased and interbank borrowings99,394 4,448 4.48 %57,950 3,262 5.63 %
Securities sold under agreements to repurchase275,701 2,568 0.93 %258,630 2,752 1.06 %
Federal Home Loan Bank advances5,481,224 214,856 3.92 %4,473,800 177,317 3.96 %
Other borrowings803,849 36,890 4.59 %784,994 41,275 5.26 %
Total borrowed funds6,660,168 258,762 3.89 %5,575,374 224,606 4.03 %
Total interest-bearing liabilities45,095,572 1,211,979 2.69 %35,895,588 1,070,868 2.98 %
Noninterest-Bearing Liabilities and Shareholders' Equity:
Demand deposits$11,693,361 $9,424,577 
Other liabilities1,068,576 962,511 
Shareholders' equity7,614,009 6,019,730 
Total liabilities and shareholders' equity$65,471,518 $52,302,406 
Net interest rate spread2.90 %2.61 %
Net interest margin (GAAP)3.49 %3.26 %
Net interest margin (FTE)3
3.54 %3.31 %
FTE adjustment$28,411 $24,514 
1 Interest income is reflected on a FTE.
2 Includes loans held-for-sale.
3 Represents a non-GAAP financial measure. Refer to the "Non-GAAP Measures" table for reconciliations to GAAP financial measures.

10

Asset Quality (EOP) (unaudited)
($ in thousands)
Three Months EndedTwelve Months Ended
December 31,September 30,June 30,March 31,December 31,December 31,December 31,
2025202520252025202420252024
Allowance for credit losses:
Beginning allowance for credit losses on loans$572,178 $565,109 $401,932 $392,522 $380,840 $392,522 $307,610 
Allowance established for acquired PCD loans— 13,104 90,442 — — 103,546 26,725 
Provision for credit losses on loans29,450 24,003 99,263 31,026 30,417 183,742 120,191 
Gross charge-offs(35,131)(35,402)(29,954)(24,540)(21,278)(125,027)(71,304)
Gross recoveries3,023 5,364 3,426 2,924 2,543 14,737 9,300 
NCOs(32,108)(30,038)(26,528)(21,616)(18,735)(110,290)(62,004)
Ending allowance for credit losses on loans$569,520 $572,178 $565,109 $401,932 $392,522 $569,520 $392,522 
Beginning allowance for credit losses on unfunded commitments$32,338 $29,603 $22,031 $21,654 $25,054 $21,654 $31,226 
Provision (release) for credit losses on unfunded commitments3,295 2,735 7,572 377 (3,400)13,979 (9,572)
Ending allowance for credit losses on unfunded commitments$35,633 $32,338 $29,603 $22,031 $21,654 $35,633 $21,654 
Allowance for credit losses$605,153 $604,516 $594,712 $423,963 $414,176 $605,153 $414,176 
Provision for credit losses on loans$29,450 $24,003 $99,263 $31,026 $30,417 $183,742 $120,191 
Provision (release) for credit losses on unfunded commitments3,295 2,735 7,572 377 (3,400)13,979 (9,572)
Provision for credit losses$32,745 $26,738 $106,835 $31,403 $27,017 $197,721 $110,619 
NCOs / average loans1
0.27 %0.25 %0.24 %0.24 %0.21 %0.25 %0.17 %
Average loans1
$48,199,086 $48,153,186 $44,075,472 $36,284,059 $36,410,414 $44,221,486 $35,506,298 
EOP loans1
48,764,162 47,967,915 47,902,819 36,413,944 36,285,887 48,764,162 36,285,887 
ACL on loans / EOP loans1
1.17 %1.19 %1.18 %1.10 %1.08 %1.17 %1.08 %
ACL / EOP loans1
1.24 %1.26 %1.24 %1.16 %1.14 %1.24 %1.14 %
Underperforming Assets:
Loans 90 days and over (still accruing)$2,691 $1,525 $16,893 $6,757 $4,060 $2,691 $4,060 
Nonaccrual loans521,245 590,820 594,709 469,211 447,979 521,245 447,979 
Foreclosed assets6,235 6,325 7,986 6,301 4,294 6,235 4,294 
Total underperforming assets$530,171 $598,670 $619,588 $482,269 $456,333 $530,171 $456,333 
Classified and Criticized Assets:
Nonaccrual loans$521,245 $590,820 $594,709 $469,211 $447,979 $521,245 $447,979 
Substandard loans (still accruing)1,759,221 1,881,294 1,969,260 1,479,630 1,073,413 1,759,221 1,073,413 
Loans 90 days and over (still accruing)2,691 1,525 16,893 6,757 4,060 2,691 4,060 
Total classified loans - "problem loans"2,283,157 2,473,639 2,580,862 1,955,598 1,525,452 2,283,157 1,525,452 
Other classified assets20,616 35,373 43,495 53,239 58,954 20,616 58,954 
Special Mention805,901 893,109 1,008,716 828,314 908,630 805,901 908,630 
Total classified and criticized assets$3,109,674 $3,402,121 $3,633,073 $2,837,151 $2,493,036 $3,109,674 $2,493,036 
Loans 30-89 days past due (still accruing)$105,632 $83,030 $128,771 $72,517 $93,141 $105,632 $93,141 
Nonaccrual loans / EOP loans1
1.07 %1.23 %1.24 %1.29 %1.23 %1.07 %1.23 %
ACL / nonaccrual loans116 %102 %100 %90 %92 %116 %92 %
Under-performing assets/EOP loans1
1.09 %1.25 %1.29 %1.32 %1.26 %1.09 %1.26 %
Under-performing assets/EOP assets0.73 %0.84 %0.87 %0.90 %0.85 %0.73 %0.85 %
30+ day delinquencies/EOP loans1
0.22 %0.18 %0.30 %0.22 %0.27 %0.22 %0.27 %
1 Excludes loans held-for-sale.
    
11

Non-GAAP Measures (unaudited)
($ and shares in thousands, except per share data)
Three Months EndedTwelve Months Ended
December 31,September 30,June 30,March 31,December 31,December 31,December 31,
2025202520252025202420252024
Earnings Per Share:
Net income applicable to common shares$212,589 $178,533 $121,375 $140,625 $149,839 $653,122 $523,053 
Adjustments:
Merger-related charges24,547 69,274 41,206 5,856 8,117 140,883 37,325 
Tax effect1
(5,896)(16,494)(11,337)(1,089)(2,058)(34,816)(8,709)
Merger-related charges, net18,651 52,780 29,869 4,767 6,059 106,067 28,616 
Pension plan loss (gain)15,878 — (21,001)— — (5,123)— 
Tax effect1
(3,814)— 5,778 — — 1,964 — 
Pension plan loss (gain), net12,064 — (15,223)— — (3,159)— 
FDIC special assessment(2,994)— — — — (2,994)2,994 
Tax effect1
719 — — — — 719 (731)
FDIC special assessment, net(2,275)— — — — (2,275)2,263 
Debt securities (gains) losses(73)(7)41 76 122 37 212 
Tax effect1
18 2 (11)(14)(31)(5)(51)
Debt securities (gains) losses, net(55)(5)30 62 91 32 161 
CECL Day 1 non-PCD provision expense— — 75,604 — — 75,604 15,312 
Tax effect1
— — (20,802)— — (20,802)(3,476)
CECL Day 1 non-PCD provision expense, net— — 54,802 — — 54,802 11,836 
Distribution of excess pension assets— — — — — — — 13,318 
Tax effect1
— — — — — — — (3,250)
Distribution excess pension assets, net— — — — — — 10,068 
Separation expense— — — — — — 2,646 
Tax effect1
— — — — — — (589)
Separation expense, net— — — — — — 2,057 
Total adjustments, net28,385 52,775 69,478 4,829 6,150 155,467 55,001 
Net income applicable to common shares, adjusted$240,974 $231,308 $190,853 $145,454 $155,989 $808,589 $578,054 
Weighted average diluted common shares outstanding389,550 390,496 361,436 321,016 318,803 365,464 311,001 
EPS, diluted$0.55 $0.46 $0.34 $0.44 $0.47 $1.79 $1.68 
Adjusted EPS, diluted$0.62 $0.59 $0.53 $0.45 $0.49 $2.21 $1.86 
NIM:
Net interest income$580,832 $574,609 $514,790 $387,643 $394,180 $2,057,874 $1,530,783 
Add: FTE adjustment2
8,013 7,975 7,063 5,360 5,777 28,411 24,514 
Net interest income (FTE)$588,845 $582,584 $521,853 $393,003 $399,957 $2,086,285 $1,555,297 
Average earning assets$64,456,815 $64,032,811 $59,061,249 $48,077,320 $48,411,803 $58,965,967 $46,981,267 
NIM (GAAP)3.60 %3.59 %3.49 %3.23 %3.26 %3.49 %3.26 %
NIM (FTE)3.65 %3.64 %3.53 %3.27 %3.30 %3.54 %3.31 %
Refer to last page of Non-GAAP reconciliations for footnotes.
12

Non-GAAP Measures (unaudited)
($ in thousands)
Three Months EndedTwelve Months Ended
December 31,September 30,June 30,March 31,December 31,December 31,December 31,
2025202520252025202420252024
PPNR:
Net interest income (FTE)2
$588,845 $582,584 $521,853 $393,003 $399,957 $2,086,285 $1,555,297 
Add: Noninterest income109,759 130,461 132,517 93,794 95,766 466,531 354,697 
Total revenue (FTE)698,604 713,045 654,370 486,797 495,723 2,552,816 1,909,994 
Less: Noninterest expense(386,320)(445,734)(384,766)(268,471)(276,824)(1,485,291)(1,094,423)
PPNR$312,284 $267,311 $269,604 $218,326 $218,899 $1,067,525 $815,571 
Adjustments:
Pension plan loss (gain)$15,878 $— $(21,001)$— $— $(5,123)$— 
Debt securities (gains) losses(73)(7)41 76 122 37 212 
Noninterest income adjustments15,805 (7)(20,960)76 122 (5,086)212 
Adjusted noninterest income125,564 130,454 111,557 93,870 95,888 461,445 354,909 
Adjusted revenue$714,409 $713,038 $633,410 $486,873 $495,845 $2,547,730 $1,910,206 
Adjustments:
Merger-related charges$24,547 $69,274 $41,206 $5,856 $8,117 $140,883 $37,325 
FDIC Special Assessment(2,994)— — — — (2,994)2,994 
Distribution of excess pension assets— — — — — — 13,318 
Separation expense— — — — — — 2,646 
Noninterest expense adjustments21,553 69,274 41,206 5,856 8,117 137,889 56,283 
Adjusted total noninterest expense(364,767)(376,460)(343,560)(262,615)(268,707)(1,347,402)(1,038,140)
Adjusted PPNR$349,642 $336,578 $289,850 $224,258 $227,138 $1,200,328 $872,066 
Efficiency Ratio:
Noninterest expense$386,320 $445,734 $384,766 $268,471 $276,824 $1,485,291 $1,094,423 
Less: Amortization of intangibles(26,016)(26,184)(19,630)(6,830)(7,237)(78,660)(27,528)
Noninterest expense, excl. amortization of intangibles360,304 419,550 365,136 261,641 269,587 1,406,631 1,066,895 
Less: Amortization of tax credit investments(9,822)(7,057)(5,815)(3,424)(4,556)(26,118)(13,329)
Less: Noninterest expense adjustments(21,553)(69,274)(41,206)(5,856)(8,117)(137,889)(56,283)
Adjusted noninterest expense, excluding amortization$328,929 $343,219 $318,115 $252,361 $256,914 $1,242,624 $997,283 
Total revenue (FTE)2
$698,604 $713,045 $654,370 $486,797 $495,723 $2,552,816 $1,909,994 
Less: Debt securities (gains) losses(73)(7)41 76 122 37 212 
Less: Pension plan loss (gain)15,878 — (21,001)— — (5,123)— 
Total adjusted revenue $714,409 $713,038 $633,410 $486,873 $495,845 $2,547,730 $1,910,206 
Efficiency Ratio51.6 %58.8 %55.8 %53.7 %54.4 %55.1 %55.9 %
Adjusted Efficiency Ratio46.0 %48.1 %50.2 %51.8 %51.8 %48.8 %52.2 %
Refer to last page of Non-GAAP reconciliations for footnotes.
13

Non-GAAP Measures (unaudited)
($ in thousands)
Three Months EndedTwelve Months Ended
December 31,September 30,June 30,March 31,December 31,December 31,December 31,
2025202520252025202420252024
ROAE and ROATCE:
Net income applicable to common shares$212,589 $178,533 $121,375 $140,625 $149,839 $653,122 $523,053 
Amortization of intangibles 26,016 26,184 19,630 6,830 7,237 78,660 27,528 
Tax effect1
(6,504)(6,546)(4,908)(1,708)(1,809)(19,665)(6,882)
Amortization of intangibles, net19,512 19,638 14,722 5,122 5,428 58,995 20,646 
Net income applicable to common shares, excluding intangibles amortization232,101 198,171 136,097 145,747 155,267 712,117 543,699 
Total adjustments, net (see pg.12)28,385 52,775 69,478 4,829 6,150 155,467 55,001 
Adjusted net income applicable to common shares, excluding intangibles amortization$260,486 $250,946 $205,575 $150,576 $161,417 $867,584 $598,700 
Average shareholders' equity$8,391,067 $8,168,575 $7,452,116 $6,416,485 $6,338,953 $7,614,009 $6,019,730 
Less: Average preferred equity(243,719)(243,719)(243,719)(243,719)(243,719)(243,719)(243,719)
Average shareholders' common equity$8,147,348 $7,924,856 $7,208,397 $6,172,766 $6,095,234 $7,370,290 $5,776,011 
Average goodwill and other intangible assets(2,919,924)(2,931,319)(2,670,710)(2,292,526)(2,301,177)(2,705,963)(2,237,738)
Average tangible shareholder's common equity$5,227,424 $4,993,537 $4,537,687 $3,880,240 $3,794,057 $4,664,327 $3,538,273 
ROAE10.4 %9.0%6.7%9.1%9.8%8.9 %9.1 %
ROAE, adjusted11.8 %11.7%10.6%9.4%10.2%11.0 %10.0 %
ROATCE17.8 %15.9%12.0%15.0%16.4%15.3 %15.4 %
ROATCE, adjusted19.9 %20.1%18.1%15.5%17.0%18.6 %16.9 %
Refer to last page of Non-GAAP reconciliations for footnotes.
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Non-GAAP Measures (unaudited)
($ in thousands)
As of
December 31,September 30,June 30,March 31,December 31,
20252025202520252024
Tangible Common Equity:
Shareholders' equity$8,494,788 $8,309,271 $8,126,387 $6,534,654 $6,340,350 
Less: Preferred equity (243,719)(243,719)(243,719)(243,719)(243,719)
Shareholders' common equity $8,251,069 $8,065,552 $7,882,668 $6,290,935 $6,096,631 
Less: Goodwill and other intangible assets(2,907,986)(2,926,960)(2,944,372)(2,289,268)(2,296,098)
Tangible shareholders' common equity $5,343,083 $5,138,592 $4,938,296 $4,001,667 $3,800,533 
Total assets $72,151,967 $71,210,162 $70,979,805 $53,877,944 $53,552,272 
Less: Goodwill and other intangible assets(2,907,986)(2,926,960)(2,944,372)(2,289,268)(2,296,098)
Tangible assets $69,243,981 $68,283,202 $68,035,433 $51,588,676 $51,256,174 
Risk-weighted assets3
$53,617,620 $52,515,468 $52,517,871 $40,266,670 $40,314,805 
Tangible common equity to tangible assets 7.72 %7.53 %7.26 %7.76 %7.41 %
Tangible common equity to risk-weighted assets3
9.97 %9.78 %9.40 %9.94 %9.43 %
Tangible Common Book Value:
Common shares outstanding389,662 390,768 391,818 319,236 318,980 
Tangible common book value$13.71 $13.15 $12.60 $12.54 $11.91 
1 Tax-effect calculations use management's estimate of the full year FTE tax rates (federal + state).
2 Calculated using the federal statutory tax rate in effect of 21% for all periods.
3 December 31, 2025 figures are preliminary.
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