© 2026 Texas Capital Bank Member FDIC January 22, 2026 Q4-2025 Earnings
2 Forward-Looking Statements This communication contains “forward-looking statements” within the meaning of and pursuant to the Private Securities Litigation Reform Act of 1995 regarding, among other things, TCBI’s financial condition, results of operations, business plans and future performance. These statements are not historical in nature and may often be identified by the use of words such as “believes,” “projects,” “expects,” “may,” “estimates,” “should,” “plans,” “targets,” “intends” “could,” “would,” “anticipates,” “potential,” “confident,” “optimistic” or the negative thereof, or other variations thereon, or comparable terminology, or by discussions of strategy, objectives, estimates, trends, guidance, expectations and future plans. Because forward-looking statements relate to future results and occurrences, they are subject to inherent and various uncertainties, risks, and changes in circumstances that are difficult to predict, may change over time, are based on management’s expectations and assumptions at the time the statements are made and are not guarantees of future results. Numerous risks and other factors, many of which are beyond management’s control, could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. While there can be no assurance that any list of risks is complete, important risks and other factors that could cause actual results to differ materially from those contemplated by forward- looking statements include, but are not limited to: economic or business conditions in Texas, the United States or globally that impact TCBI or its customers; negative credit quality developments arising from the foregoing or other factors, including recent trade policies and their impact on our customers; increased or expanded competition from banks and other financial service providers in TCBI’s markets; TCBI’s ability to effectively manage its liquidity and maintain adequate regulatory capital to support its businesses; TCBI’s ability to pursue and execute upon growth plans, whether as a function of capital, liquidity or other limitations; TCBI’s ability to successfully execute its business strategy, including its strategic plan and developing and executing new lines of business and new products and services and potential strategic acquisitions; the extensive regulations to which TCBI is subject and its ability to comply with applicable governmental regulations, including legislative and regulatory changes; TCBI’s ability to effectively manage information technology systems, including third party vendors, cyber or data privacy incidents or other failures, disruptions or security breaches; TCBI’s ability to use technology to provide products and services to its customers; risks related to the development and use of artificial intelligence; changes in interest rates, including the impact of interest rates on TCBI’s securities portfolio and funding costs, as well as related balance sheet implications stemming from the fair value of our assets and liabilities; the effectiveness of TCBI’s risk management processes strategies and monitoring; fluctuations in commercial and residential real estate values, especially as they relate to the value of collateral supporting TCBI’s loans; the failure to identify, attract and retain key personnel and other employees; adverse developments in the banking industry and the potential impact of such developments on customer confidence, liquidity and regulatory responses to these developments, including in the context of regulatory examinations and related findings and actions; negative press and social media attention with respect to the banking industry or TCBI, in particular; claims, litigation or regulatory investigations and actions that TCBI may become subject to; severe weather, natural disasters, climate change, acts of war, terrorism, global or other geopolitical conflicts, or other external events, as well as related legislative and regulatory initiatives; and the risks and factors more fully described in TCBI’s most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other documents and filings with the SEC. The information contained in this communication speaks only as of its date. Except to the extent required by applicable law or regulation, we disclaim any obligation to update such factors or to publicly announce the results of any revisions to any of the forward-looking statements included herein to reflect future events or developments.
3 Full Year 2025 Highlights (Compared to Full Year 20241) Net Income to Common ($mm) GAAP $313.0 +$252.7 or 419% Adjusted2 $313.8 +$105.4 or 51% Net Interest Margin PPNR3 ($mm) GAAP $487.7 +$313.6 or 180% Adjusted2 $488.8 +$119.4 or 32% Capital Common Equity / Total Assets 10.56% +58bps Tangible Common Equity / Tangible Assets4 10.56% +58bps Fee Income From Areas of Focus ($mm) Investment Banking, Private Wealth, and Treasury Product Fees5 $191.9 +$14.2 or 8% Book Value per Share Book Value per Share $75.28 +$8.92 or 13% Tangible Book Value per Share6 $75.25 +$8.93 or 13% Credit Quality Balance Sheet & Capital Financial Results Adjusted net income to common2 increased $105mm or 51%, with adjusted EPS2 increasing 53% Adjusted pre-provision net revenue2,3 increased 32% to $488.8, a record high for the Firm 2025 adjusted return on average assets2 of 1.04%, a 30bps improvement compared to 2024 Commercial loan balances increased $1.1bn or 10%, supporting total loan growth of $1.6bn Tangible common equity to tangible assets4 ended the year at 10.56%, a record high for the Firm Repurchased 2.2mm shares or 4.9% of prior year shares outstanding at a weighted average price of approximately 114% of prior month tangible book value per share6 Criticized LHI declined $79mm or 11% YoY, with the percentage of total LHI declining 54bps to 2.64% Full year net charge-offs totaled $47.2mm or 20bps of average LHI 2025 provision expense as a percentage of average LHI excl. mortgage finance of 31bps 3.35% +32bps FY 2025 Key Metrics EPS ROAA ROACE $6.80 +$2.37 or 53% 1.04% +30bps 9.6% +256bps 61.1% -564bps Efficiency Ratio8 $6.79 +$5.51 or 430% 1.04% +79bps 9.6% +755bps 61.2% -2,017bps GAAP Adjusted2 ROATCE7 9.6% +256bps 9.6% +755bps Record high in the history of the firm
4 Q4 2025 Highlights (Compared to Q4 20249) GAAP $96.3 +$29.6 or +44% Adjusted2 $94.6 +$27.9 or +42% GAAP $143.3 +$31.8 or +28% Adjusted2 $141.0 +$29.5 or +26% Investment Banking, Private Wealth, and Treasury Product Fees5 $51.3 +$5.6 or +12% Book Value per Share $75.28 +$8.92 or 13% Tangible Book Value per Share6 $75.25 +$8.93 or 13% Credit Quality Balance Sheet & Capital Financial Results 3.38% +45bps Adjusted quarterly earnings per share2 grew $0.65 or 45% YoY to $2.08 Adjusted pre-provision net revenue2, 3 grew $29.5mm or 26% YoY, remaining near all-time highs Q4 2025 adjusted return on average assets2 of 1.20%, a second consecutive quarter exceeding the 1.10% ROAA target Tangible book value per share6 grew 13% YoY to $75.25, an all-time high for the Firm Interest bearing deposits, excluding brokered and indexed, increased $1.7bn or 10% YoY Quarterly interest bearing deposits cost declined 85bps YoY, supporting a 45bps improvement in net interest margin over the same period Total ACL as a percentage of LHI of 1.38% and 1.82% when excluding mortgage finance Net charge-offs for the quarter totaled $10.7mm or 18bps of average LHI Non-performing assets remained near historical lows at 38bps of total assets Net Income to Common ($mm) Net Interest Margin Capital Fee Income From Areas of Focus ($mm) Book Value per Share Common Equity / Total Assets 10.56% +58bps Tangible Common Equity / Tangible Assets4 10.56% +58bps PPNR3 ($mm) $2.12 +$0.69 or 48% 1.22% +34bps 11.2% +267bps 56.2% -444bps $2.08 +$0.65 or 45% 1.20% +32bps 11.0% +247bps 56.9% -376bps EPS ROAA ROACE Efficiency Ratio8 Q4 2025 Key Metrics GAAP Adjusted2 11.2% +267bps 11.0% +248bps ROATCE7 Record high in the history of the firm
5 Q4 2025Non-GAAP2 Adjustments ($mm) 184.2 Non-Interest Expense 2.2FDIC Special Assessment 0.0Restructuring Expenses 0.0Legal Settlement 186.4Non-Interest Expense, Adj. Financial Performance // Income Statement Adjusted (Non-GAAP2) Adjusted (Non-GAAP2) Adjusted (Non-GAAP2)Financial Highlights ($mm) Q4 2025Q4 2025Q3 2025Q4 20242025202520242024 267.4 267.4 271.8 229.6 1,028.6 1,028.6 901.3 901.3 Net Interest Income 60.0 60.0 68.6 54.1 229.0 227.1 210.6 31.0 Non-Interest Revenue 327.5 327.5 340.4 283.7 1,257.7 1,255.8 1,111.9 932.3 Total Revenue 186.4 184.2 190.6 172.2 768.9 768.1 742.5 758.3 Non-Interest Expense 141.0 143.3 149.8 111.5 488.8 487.7 369.4 174.1 PPNR3 11.0 11.0 12.0 18.0 55.0 55.0 67.0 67.0 Provision for Credit Losses 31.1 31.6 32.6 22.5 102.7 102.5 76.8 29.6 Income Tax Expense 98.9 100.7 105.2 71.0 331.0 330.2 225.6 77.5 Net Income 4.3 4.3 4.3 4.3 17.3 17.3 17.3 17.3 Preferred Stock Dividends 94.6 96.3 100.9 66.7 313.8 313.0 208.3 60.3 Net Income to Common Q4 2025Q4 2025Q3 2025Q4 20242025202520242024Performance Metrics 1.20% 1.22% 1.30% 0.88% 1.04% 1.04% 0.74% 0.25% Return on Average Assets 1.72% 1.74% 1.85% 1.38% 1.54% 1.53% 1.21% 0.57% PPNR3 / Average Assets 56.9% 56.2% 56.0% 60.7% 61.1% 61.2% 66.8% 81.3% Efficiency Ratio8 11.0% 11.2% 12.0% 8.5% 9.6% 9.6% 7.0% 2.0% Return on Average Common Equity $2.08 $2.12 $2.18 $1.43 $6.80 $6.79 $4.43 $1.28 Earnings Per Share 20252024Non-GAAP2 Adjustments ($mm) 227.1 31.0Non-Interest Income 1.9179.6Loss on AFS Securities Sale 229.0 210.6Non-Interest Income, Adj. 768.1 758.3Non-Interest Expense 2.2(2.8)FDIC Special Assessment (1.4)(7.9)Restructuring Expenses 0.0(5.0)Legal Settlement 768.9 742.5Non-Interest Expense, Adj.
6 Balance Sheet Highlights ($mm) Ending Balances YoYQoQQ4 2025Q3 2025Q4 2024 Assets (34%)(32%)2,099 3,065 3,189 Cash and Equivalents 7% 3% 4,723 4,602 4,396 Total Securities 10% 2% 12,253 11,999 11,146 Commercial Loans (4%)(5%)5,396 5,697 5,616 CRE Loans (23%)(20%)434 540 565 Consumer Loans 16% 0% 6,064 6,058 5,216 Mortgage Finance Loans 7% (1%)24,147 24,294 22,543 Gross LHI (0%)(1%)(271)(274)(272)Allowance for Credit Losses on Loans 3% (3%)31,540 32,537 30,732 Total Assets Financial Performance // Quarterly Balance Sheet Highlights Q4 2025Q3 2025Q4 2024Performance Metrics 22% 24% 25% Cash & Securities % of Assets 51% 49% 49% Commercial Loans % of Gross LHI (333)(333)(325)Total Allowance for Credit Losses ($mm) 1.38% 1.37% 1.45% Total ACL / Total LHI YoYQoQQ4 2025Q3 2025Q4 2024 Liabilities (7%)(9%)6,959 7,690 7,485 Non-Interest Bearing Deposits 10% (2%)19,490 19,816 17,753 Interest Bearing Deposits 5% (4%)26,449 27,505 25,239 Total Deposits (63%)20% 330 275 885 Short-Term Borrowings 2% (3%)27,909 28,900 27,364 Total Liabilities Equity 4% (1%)3,396 3,421 3,251 Common Equity, Excl. AOCI (65%)(23%)(65)(84)(183)AOCI 8% (0%)3,631 3,637 3,368 Total Shareholder’s Equity (4%)(3%)44,253,688 45,679,863 46,233,812 Common Shares Outstanding Q4 2025Q3 2025Q4 2024 91% 88% 89% Total LHI % of Deposits 26% 28% 30% Non-Interest Bearing % of Deposits $75.28 $73.05 $66.36 Book Value Per Share $75.25 $73.02 $66.32 Tangible Book Value Per Share6
7 $3.5 $4.4 $5.2 $5.4 $4.0 $5.3 $5.5 $5.9 4% 15% 29% 54% 59% $4.2 $5.1 $5.5 $5.2 $4.7 $5.9 $6.1 $6.1 $5.6 $5.8 $5.7 $5.7 $5.4 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 $11.1 $11.4 $11.9 $12.0 $12.3 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Total LHI increased $1.6bn or 7% YoY Ending period commercial loans increased $1.1bn or 10% YoY Broad based growth driven by sustained client onboarding Ending period commercial loans increased $254mm QoQ or 8% annualized Commercial real estate loans declined $221mm or 4% YoY as persistently high payoff rates and limited new volumes are expected to pressure portfolio balances through 2026 Multifamily comprises $2.2bn or 40% of CRE loans Full year average mortgage finance loan balances increased 12% to $5.2bn Average mortgage finance loans increased 8% QoQ as declining mortgage rates supported balances Linked quarter period end balances flat, breaking from historical Q4 trends of lower end of period balances than average At quarter end, 59% of the Firm’s mortgage finance loan balances were in enhanced credit structures, up from 54% at end of Q3 Loan Portfolio Composition Mortgage Finance Loans ($bn) Commercial Loans ($bn) Commercial Real Estate Loans ($bn) Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Average Period End Enhanced Credit Structures % of Period End
8 2.81% 2.76% 2.65% 2.62% 2.41% 2.61% 2.54% 2.41% 2.36% 2.18% 4.32% 3.97% 3.83% 3.76% 3.47% Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 $3.5 $3.4 $3.4 $3.4 $3.5 $3.3 $5.8 $4.5 $4.8 $4.9 $5.0 $3.7 $16.9 $17.4 $18.0 $19.0 $19.1 $18.8 $0.5 $0.5 $0.3 $0.0 $0.0 $0.7 $26.7 $25.7 $26.5 $27.4 $27.6 $26.4 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q4 2025 Q4 2025 EOP Deposit and Funding Composition Total deposit balances increased $1.2bn or 5% YoY as interest bearing deposit growth continued Total deposit balances decreased $1.1bn QoQ driven by predictable, seasonal mortgage finance deposit reductions related to escrow accounts Non-interest bearing, excl. MF10 deposits increased $233mm or 8% QoQ to $3.3bn Average MF10 non-interest bearing deposits increased $78mm linked quarter to $5.0bn, representing 85% of average mortgage finance loans in Q4 2025 compared to 107% in Q4 of last year End of period deposit balances decreased by $963mm or 21% consistent with historical seasonal trends in the fourth quarter The majority of MF10 non-interest bearing deposits are compensated through relationship pricing which results in application of an interest credit to either the client’s mortgage finance or commercial loan yield Average cost of interest bearing deposits declined 29bps to 3.47% Cumulative beta of 67% since the beginning of the easing cycle inclusive of the late quarter rate cut Average Deposit Trends ($bn) Mortgage Finance Self Funding Ratio Funding Costs Avg Cost of Total Deposits Total Cost of Funds Avg Cost of Int. Bearing Deposits Non-Interest Bearing, Excl. MF10 MF10 Non-Interest Bearing Interest Bearing Interest Bearing Brokered YoY Change Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 ($0.8)$5.0 $4.9 $4.8 $4.5 $5.8 Average MF10 Non-Interest Bearing Deposits ($bn) $0.5 $5.9 $5.5 $5.3 $4.0 $5.4 Average MF10 Loans ($bn) (22%)85% 90% 91% 113% 107% MF10 Self Funding Ratio
9 (12.5%) (12.9%) (6.4%) (6.7%) 4.0% 3.6% 7.7% 6.8% (10.0%) (8.0%) (6.0%) (4.0%) (2.0%) 0.0% 2.0% 4.0% 6.0% 8.0% 10.0% Q3 2025 Q4 2025 -200bps Shock -100bps Shock +100bps Shock +200bps Shock Net Interest Income Sensitivity Standard Model Assumptions11 100bp & 200bp Parallel Shocks Loan Balances: Static Deposit Balances: Static Loan Spreads: Current Levels Up Scenario Int. Bearing Deposit Beta: ~80% Down Scenario Int. Bearing Deposit Beta: ~60% Investment Portfolio: Ratio held constant Net Interest Income Sensitivity – Static Balance Sheet ($mm) $1,009mm$1,059mmBase NII12 Q4 2025Q3 2025 YieldBalance ($mm)YieldBalance ($mm) 3.95% $2,994 4.38% $2,920 Interest Bearing Cash and Equivalents 3.98% 4,629 4.14% 4,635 Securities 6.70% 18,177 6.95% 18,253 LHI Excl. Mortgage Finance LHI 4.13% 5,891 4.32% 5,472 Mortgage Finance LHI --(278)--(277)ACL on Loans 5.61% $31,414 5.88% $31,004 Earning Assets 94% of LHI excl. mortgage finance LHI is variable rate $1.1bn of loans are fixed rate with 13% maturing or repricing in the next 12 months Duration of the securities portfolio is approx. 4 years with Q4 cash flows of $181mm Added $700mm of 2 year receiving fixed swaps with a weighted average receive rate of 3.34% against 1-month SOFR during the quarter, and an additional $400mm at 3.32% starting in 1Q Impacts of Mortgage Finance Mortgage finance LHI represents 14% of the average total LHI portfolio with the majority tied to 1-month SOFR which declined 44bps in Q4 Given the current outlook and observed seasonality, the average mortgage finance self funding ratio is expected to remain near 85% in Q1 Firm’s overall net interest income sensitivity (per the chart above) is inclusive of mortgage finance NII impact on a flat balance sheet and does not account for changes in warehouse volumes in either a lower or higher rate environment $81 $43 ($68) ($133) $69 $37 ($68) ($130) Receive Rate Average Notional Balance ($bn) 3.52%1.1Q4 2025 3.46%1.9Q1 2026 3.47%1.7Q2 2026 3.47%1.7Q3 2026 3.47%1.7Q4 2026 3.47%1.7Q1 2027 3.47%1.7Q2 2027 Hedging Profile Earning Assets Profile (Average)
10 $97.9 $131.6 $118.8 $119.9 $108.9 $74.3 $71.4 $70.1 $70.7 $77.6 $1.4 ($2.2) $172.2 $203.0 $190.3 $190.6 $184.2 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 $229.6 $236.0 $253.4 $271.8 $267.4 $54.1 $44.4 $54.1 $68.6 $60.0 $1.9$283.7 $280.5 $307.5 $340.4 $327.5 2.93% 3.19% 3.35% 3.47% 3.38% Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 $271.8 ($1.2) ($13.0) $4.4 ($2.6) $0.9 ($4.8) ($0.6) $14.1 ($1.6) $267.4 Q3 2025 Loans Excl MF Volume Loans Excl MF Yield MF Loan Volume MF Yield Loan Fees Investment Securities & Cash Interest Bearing Deposits Volume Interest Bearing Deposit Cost Borrowings Q4 2025 57% 65% 62% 63% Q4-2025 Earnings Overview Net Interest Income ($mm) Total Revenue ($mm) Non-Interest Expense ($mm) 59% 10 10 10 10 42% 35% 37% Salaries & Benefits Other NIE Non-Recurring Items2Net Interest Income Non-Recurring Items2 43% 37% 1% (1%) Non-Interest Income Net Interest Margin Net interest income declined 1.6% QoQ driven by seasonal warehouse factors and known timing differences between loan and deposit betas Quarterly net interest margin improved 45bps YoY Full year non-interest income of $227.1mm, up $196.1mm, with adjusted non-interest income2 of $229.0mm, rising $18.4mm or 9% to record levels Adjusted non-interest expense2 grew 8% YoY driven by higher salaries and benefits expense aligned to focused areas of investment
11 60% Investment Banking & Trading 7% Wealth 18% Treasury5 15% Other 58% Investment Banking & Trading 7% Wealth 20% Treasury5 16% Other (1%) Non-Recurring Fee Income Non-Interest Income Annual GrowthFY 2025FY 2024Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024 7%$4.2 $4.0 $4.2 $4.2 $4.1 $3.8 $4.0 Assets Under Management13 ($bn) 4%$15.9 $15.3 $4.2 $4.0 $3.7 $4.0 $4.0 Wealth Management & Trust Fee Income ($mm) 24%$44.4$35.8 $11.1$11.1 $11.6 $10.6 $9.5 Treasury Product Fees5 ($mm) 4%$131.7 $126.6 $36.0 $41.2 $32.0 $22.4 $32.2 Investment Banking & Trading Income ($mm) 8%$191.9 $177.7 $51.3 $56.3 $47.3 $37.0 $45.7 Income from Areas of Focus ($mm) $54.1 $44.4 $54.1 $68.6 $60.0 $56.0 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Non-Interest Income ($mm) % of Total Revenue, Adj.2 19% 16% 18% 20% 18% Non-Interest Income Non-Interest Income, Adj.2 Non-Interest Income Composition Q4 2025 FY 2025 Fee income from areas of focus grew 8% in 2025 to $191.9mm, a record high for the Firm Assets Under Management13 rose 7% YoY, supporting full year Wealth Management & Trust Fee growth of 4% Full year Treasury Product Fees5 increased $8.6mm or 24% in 2025 Gross PxV expanded 12% in 2025, exceeding 10% growth in 4 of the last 5 years Quarterly Treasury Product Fees5 up 16% or $1.5mm YoY IB Transaction volume across capital markets, capital solutions, and syndications increased nearly 40% YoY as platform scales
12 79% 80% 92% 91% 84% 20% 20% 8% 9% 16% 1% $278.3 $278.7 $297.5 $280.1 $288.3 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 70% 71% 64% 51% 40% 30% 28% 34% 48% 60% 1% 2% 1% $435.6 $484.2 $339.9 $249.6 $346.6 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 2.9x 3.5x 2.8x 1.45% 1.37% 1.38% 1.87% 1.79% 1.82% Q4 2024 Q3 2025 Q4 2025 0.36% 0.30% 0.36% 0.30% 0.38% 0.22% 0.18% 0.22% 0.23% 0.18% 3.18% 3.41% 2.66% 2.19% 2.64% Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Asset Quality Trends Allowance for Credit Loss Reserve Ratios Asset Quality Ratios Special Mention Composition ($mm) Substandard Composition ($mm) $10.7 $13.7 $13.0 $9.8 $12.1 Net Charge-Offs ($mm) Total ACL / Non- accrual Loans HFI Total ACL increased to $332.8mm Total ACL, excl. MF10 increased $2.8mm QoQ to $326.6mm Total ACL, excl. MF10 to LHI, excl. MF10 in the top decile among Peers14 Total ACL to LHI ratio $10.7mm of quarterly net charge-offs, 0.18% of average LHI, primarily related to previously identified problem credits Quarterly provision expense as a percentage of average LHI of 18bps and FY 2025 provision expense as a percentage of average LHI of 24bps Quarterly provision expense as a percentage of average LHI excl. MF10 of 24bps FY 2025 provision expense as a percentage of average LHI excl. MF10 of 31bps Criticized LHI declined $79mm or 11% YoY, with the percentage of total LHI declining 54bps to 2.64% Special mention LHI declined $89mm or 20% YoY QoQ increase in special mention related to select multifamily credits requiring ongoing rental concessions to gain or maintain occupancy, impacting net operating income in spite of strong sponsor supportCommercial Mortgage Finance Real Estate ConsumerCommercial Mortgage Finance Real Estate Consumer Total ACL / LHI Total ACL, Excl. MF10 / LHI Excl. MF10 Q4 2024 Q3 2025 Q4 2025 Criticized / LHI NPAs / Total Assets NCOs / Avg. LHI
13 11.38% 11.63% 11.45% 12.14% 12.13% >11.00% 1.44% 1.46% 1.41% 1.46% 1.47% 2.55% 2.51% 2.44% 2.50% 2.52% 15.37% 15.61% 15.30% 16.10% 16.12% Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 2026 Guidance 9.98 9.97 10.04 10.25 10.56 9.98 9.98 10.05 10.26 10.56 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 66.32 67.97 70.14 73.02 75.25 66.36 68.00 70.17 73.05 75.28 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Tangible Common Equity / Tangible Assets4 Common Equity / Total Assets 2026 Guidance Capital Position and Trends Delivered strong improvement in capital ratios, with CET1 improving 75bps and tangible common equity to tangible assets improving 58bps YoY, reflecting disciplined balance sheet management and earnings momentum Tangible common equity to tangible assets4 ended the quarter at 10.56%, an important characteristic of our financially resilient business model and a key metric as we manage the balance sheet through- cycle Tangible common equity to tangible assets4 in top quintile of peer group14 Tangible book value per share6 expanded $2.23 or 3% QoQ as a result of income generated and AOCI improvement TBVPS6 of $75.25 is an all-time high for the Firm Repurchased 1.4mm shares in Q4 for a total of $125mm at a weighted average price of approximately 117% of prior month tangible book value per share6 2025 share repurchases total 4.9% of prior year shares outstanding at a weighted average price of approximately 114% of prior month tangible book value per share6 Authorized share repurchase program of up to $200mm for 2026 Regulatory Capital Levels Tangible Common Equity / Tangible Assets4 (%) Period End AOCI ($mm) (65)(84)(113)(136)(183) AOCI per Share ($) (1.46)(1.84)(2.47)(2.96)(3.96) Peer14 Tangible Common Equity / Tangible Assets4 (%) 8.558.468.258.10 CET1 Tier 1 Capital Tier 2 Capital Tangible Book Value per Share6 Book Value per Share Tangible Book Value per Share6 ($)
14 Full Year 2026 Guidance Full Year 2025 Adjusted (Non-GAAP2) Mid to high single-digit % growth$1,257.7mmTotal Revenue, Adjusted2 Mid single-digit % growth$768.9mmNon-Interest Expense, Adjusted2 35bps - 40bps31bpsProvision / Avg LHI, Excl. Mortgage Finance LHI >11%12.13%CET1 Ratio Full Year 2026 Guidance Forward curve15 assumes 25bps cuts in June and October with an exit rate of 3.25% at year end 2026 Tax rate expected to be approximately 25% for the full year in 2026 Guidance Commentary
15 1. Comparisons vs. FY 2024 GAAP and adjusted metrics unless otherwise noted 2. See slide: Non-GAAP Reconciliation // Adjusted Earnings & Ratios 3. “PPNR” used as an abbreviation for Pre-Provision Net Revenue which is the sum of net interest income and non-interest income, less non-interest expense 4. Stockholders’ equity excluding preferred stock, less goodwill and intangibles, divided by total assets, less goodwill and intangibles 5. Includes service charges on deposit accounts, as well as fees related to our commercial card program, merchant transactions, and FX transactions, all of which are included in other non-interest income and totaled $10.2mm for FY 2024, and $11.8mm for FY 2025 and $2.5mm, $2.8mm, $3.4mm, $3.0mm, and $2.6mm for Q4 2024, Q1 2025, Q2 2025, Q3 2025, and Q4 2025 respectively 6. Stockholders’ equity excluding preferred stock, less goodwill and intangibles, divided by shares outstanding at period end 7. See slide: Non-GAAP Reconciliation // Return on Average Tangible Common Equity (ROATCE) 8. Non-interest expense divided by the sum of net interest income and non-interest income 9. Comparisons vs. Q4 2024 GAAP and adjusted metrics unless otherwise noted 10. “MF” used as abbreviation for Mortgage Finance 11. Model assumptions are only for Q4 2025; See prior TCBI Earnings Materials for prior model assumptions 12. Baseline scenarios hold constant balances, market rates, and assumptions as of period end reporting 13. Assets Under Management includes non-discretionary brokerage assets that the Firm earns wealth management and trust fee income on 14. Major exchange traded US peer banks with $20-100bn in total assets, excluding PR headquartered banks and merger targets; Source: S&P Capital IQ Pro; peer data as of Q3 2025 15. Forward curve as of January 5, 2026 Appendix // Footnotes
16 Non-GAAP Reconciliation // Return on Average Tangible Common Equity (ROATCE) ROATCE is a non-GAAP financial measure. ROATCE represents the measure of net income available to common shareholders as a percentage of average tangible common equity. ROATCE is used by management in assessing financial performance and use of equity. A reconcilement of ROATCE to the most directly comparable U.S. GAAP measure, ROACE, for all periods is presented below. (1) See slide Non-GAAP Reconciliation // Adjusted Earnings & Ratios YoY Change20252024YoY ChangeQ4 2025Q4 2024 Adjusted1As Reported Adjusted1As Reported Adjusted1As Reported Adjusted1As Reported Adjusted1As Reported Adjusted1As Reported ($mm, unless noted otherwise) $105.4 $252.7 $313.8 $313.0 $208.3 $60.3 $27.9 $29.6 $94.6 $96.3 $66.7 $66.7 Net Income to Common $308.9 $308.9 $3,264.4 $3,264.4 $2,955.5 $2,955.5 $299.1 $299.1 $3,420.0 $3,420.0 $3,120.9 $3,120.9 Average Common Equity 0.0 0.0 1.5 1.5 1.5 1.5 0.0 0.0 1.5 1.5 1.5 1.5 Less: Average Goodwill & Intangibles $308.9 $308.9 $3,262.9 $3,262.9 $2,954.0 $2,954.0 $299.1 $299.1 $3,418.5 $3,418.5 $3,119.4 $3,119.4 Average Tangible Common Equity 2.6%7.5%9.6%9.6%7.0%2.0%2.5%2.7%11.0%11.2%8.5%8.5%ROACE 2.6%7.6%9.6%9.6%7.1%2.0%2.5%2.7%11.0%11.2%8.5%8.5%ROATCE
17 Non-GAAP Reconciliation // Adjusted Earnings & Ratios YoY ChangeFY 2025 FY 2024 YoY Change Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 ($mm, except per share) $127.3 $1,028.6 $901.3 $37.8 $267.4 $271.8 $253.4 $236.0 $229.6 Net Interest Income 196.1 227.1 31.0 6.0 60.0 68.6 54.1 44.4 54.1 Non-Interest Revenue Adjustments for Non-Recurring Items: (177.7)1.9 179.6 ---1.9 --Loss on AFS Securities Sale 18.4 229.0 210.6 6.0 60.0 68.6 56.0 44.4 54.1 Non-Interest Revenue, Adjusted 323.4 1,255.8 932.3 43.8 327.5 340.4 307.5 280.5 283.7 Total Revenue1 145.7 1,257.7 1,111.9 43.8 327.5 340.4 309.4 280.5 283.7 Total Revenue, Adjusted1 9.8 768.1 758.3 12.0 184.2 190.6 190.3 203.0 172.2 Non-Interest Expense Adjustments: 6.5 (1.4)(7.9)---(1.4)--Restructuring Expense 5.0 -(5.0)------Legal Settlement 5.1 2.2 (2.8)2.2 2.2 ----FDIC Special Assessment 26.4 768.9 742.5 14.3 186.4 190.6 188.9 203.0 172.2 Non-Interest Expense, Adjusted 313.6 487.7 174.1 31.8 143.3 149.8 117.2 77.5 111.5 PPNR2 119.4 488.8 369.4 29.5 141.0 149.8 120.5 77.5 111.5 PPNR, Adjusted2 (12.0)55.0 67.0 (7.0)11.0 12.0 15.0 17.0 18.0 Provision for Credit Losses 72.9 102.5 29.6 9.1 31.6 32.6 24.9 13.4 22.5 Income Tax Expenses (47.0)0.2 47.2 (0.5)(0.5)-0.8 --Tax Impact of Adjustments Above 25.9 102.7 76.8 8.6 31.1 32.6 25.6 13.4 22.5 Income Tax Expenses, Adjusted 252.7 330.2 77.5 29.6 100.7 105.2 77.3 47.0 71.0 Net Income3 105.4 331.0 225.6 27.9 98.9 105.2 79.8 47.0 71.0 Net Income, Adjusted3 -17.3 17.3 -4.3 4.3 4.3 4.3 4.3 Preferred Stock Dividends 252.7 313.0 60.3 29.6 96.3 100.9 73.0 42.7 66.7 Net Income to Common4 105.4 313.8 208.3 27.9 94.6 100.9 75.5 42.7 66.7 Net Income to Common, Adjusted4 $1,214.9 $31,828.1 $30,613.2 $394.2 $32,606.3 $32,162.7 $31,419.5 $31,103.6 $32,212.1 Average Assets 0.79% 1.04% 0.25% 0.34% 1.22% 1.30% 0.99% 0.61% 0.88% Return on Average Assets 0.30% 1.04% 0.74% 0.32% 1.20% 1.30% 1.02% 0.61% 0.88% Return on Average Assets, Adjusted 0.96% 1.53% 0.57% 0.36% 1.74% 1.85% 1.50% 1.01% 1.38% PPNR2 / Average Assets 0.33% 1.54% 1.21% 0.34% 1.72% 1.85% 1.54% 1.01% 1.38% PPNR, Adjusted2 / Average Assets $308.9 $3,264.4 $2,955.5 $299.0 $3,420.0 $3,324.2 $3,195.0 $3,114.4 $3,120.9 Average Common Equity 7.55% 9.59% 2.04% 2.68% 11.18% 12.04% 9.17% 5.56% 8.50% Return on Average Common Equity 2.56% 9.61% 7.05% 2.47% 10.98% 12.04% 9.48% 5.56% 8.50% Return on Average Common Equity, Adjusted (861,829)46,127,375 46,989,204 (1,261,591)45,509,370 46,233,167 46,215,394 46,616,704 46,770,961 Diluted Common Shares $5.51 $6.79 $1.28 $0.69 $2.12 $2.18 $1.58 $0.92 $1.43 Earnings per Share $2.37 $6.80 $4.43 $0.65 $2.08 $2.18 $1.63 $0.92 $1.43 Earnings per Share, Adjusted (20.2%)61.2%81.3%(4.4%)56.2%56.0%61.9%72.4%60.7%Efficiency Ratio5 (5.6%)61.1%66.8%(3.8%)56.9%56.0%61.1%72.4%60.7%Efficiency Ratio, Adjusted5 Adjusted line items are non-GAAP financial measures that management believes aids in the discussion of results. A reconcilement of these adjusted items to the most directly comparable U.S. GAAP measures for all periods is presented below. Periods not presented below did not have adjustments. 1. Net interest income plus non-interest income. On an adjusted basis, net interest income plus non- interest income, adjusted 2. Net interest income plus non-interest income, less non-interest expense. On an adjusted basis, net interest income plus non-interest income, adjusted, less non-interest expense, adjusted 3. Net interest income plus non-interest income, less non-interest expense, provision for credit losses and income tax expense. On an adjusted basis, net interest income plus non-interest income, adjusted, less non-interest expense, adjusted, provision for credit losses and income tax expense, adjusted 4. Net income, less preferred stock dividends. On an adjusted basis, net income, adjusted, less preferred stock dividends 5. Non-interest expense divided by the sum of net interest income and non-interest income. On an adjusted basis, non-interest expense, adjusted, divided by the sum of net interest income and noninterest income, adjusted