Document

On April 1, 2026, we completed our merger with First Foundation and its results of operations are included in our consolidated financial results since the date of acquisition. Therefore, our second quarter and first half of 2026 results reflect increased levels of average balances, net interest income, and expenses compared to our prior quarter and first half of 2025. After purchase accounting adjustments, the acquisition added $11.2 billion of total assets, including $6.0 billion of net loans, as well as $10.5 billion of total liabilities, primarily consisting of $8.8 billion in deposits. We recorded preliminary goodwill of $9.1 million and core deposit intangibles and other intangibles of $90.2 million related to the acquisition. During the second quarter of 2026, we incurred $57.6 million in merger related expenses.

During the second quarter of 2026, we completed our previously announced balance sheet repositioning strategy, involving the sale or run-off of select First Foundation loans and securities and using proceeds from such sales and paydowns as well as other available cash and equivalents to reduce higher-cost funding sources. Our balance sheet repositioning strategy was designed to strengthen our capital position, enhance our credit profile, improve our liquidity, and support a more diversified, relationship-focused business model. Our balance sheet repositioning strategy resulted in the liquidation of assets, namely $1.2 billion in cash, $1.4 billion in securities, $1.3 billion in loans, the proceeds of which were used to reduce liabilities, namely $2.5 billion in deposits, and $1.4 billion in borrowings.

Neal Arnold, FirstSun’s Chief Executive Officer and President, commented, “The completion of the First Foundation acquisition in the second quarter marked a transformational milestone for our company. We have accelerated our growth strategy and expanded our footprint across some of the most dynamic markets in the country. In the second quarter, we also successfully completed the repositioning strategy and reduced the risk profile of the balance sheet we acquired. We believe the franchise is stronger, with less concentration risk, less liquidity risk, less interest rate sensitivity, and a stronger capital profile as a result of the repositioning actions. While we experienced a decline in our financial results this quarter due to two large loan charge-offs and the merger and integration expenses

Our board of directors has authorized a share repurchase program to purchase up to $150.0 million of FirstSun’s common stock in open market transactions or privately negotiated transactions, including pursuant to a trading plan in accordance with Rule 10b5-1 and/or Rule 10b-18 under the Securities Exchange Act of 1934, as amended. The timing, pricing, and amount of any repurchases under the repurchase program will be determined by our management at its discretion based on a variety of factors, including, but not limited to, trading volume and market price of our common stock, corporate considerations, our financial performance, alternative uses for capital, general market and economic conditions, legal and regulatory requirements, and other factors. The repurchase program is authorized through June 30, 2027, although it may be modified, discontinued, or suspended at any time without prior notice. The repurchase program does not obligate FirstSun to purchase any shares.

Average loans, including loans held-for-sale, increased by $5.8 billion in the second quarter of 2026, compared to the prior quarter, due primarily to loans acquired from First Foundation. Loan yield decreased by 20 basis points to 6.16% in the second quarter of 2026, compared to the prior quarter, reflecting a change in portfolio mix resulting from the addition of lower-yielding primarily public finance and multifamily loans acquired from First Foundation. Average investment securities increased by $1.6 billion in the second quarter of 2026, compared to the prior quarter, due primarily to securities acquired from First Foundation. Investment securities yield increased by 150 basis points to 4.80% in the second quarter of 2026, compared to the prior quarter, primarily reflecting a change in portfolio mix resulting from the addition of higher-yielding fixed and floating investment securities acquired from First Foundation. Average interest-bearing cash and other assets increased by $700.9 million in the second quarter of 2026, compared to the prior quarter. Interest-bearing cash and other assets yield decreased by 16 basis points to 3.20% in the second quarter of 2026, compared to the prior quarter, primarily reflecting a change in the composition of interest-bearing cash and other assets resulting from the First Foundation acquisition.

Net charge-offs for the second quarter of 2026 were $42.4 million resulting in an annualized ratio of net charge-offs to average loans of 1.45%, compared to net charge-offs of $10.6 million, or an annualized ratio of net charge-offs to average loans of 0.63% for the prior quarter. The increase in charge-offs for the second quarter of 2026 was primarily related to two C&I loans. The first is an asset-based loan to a materials distributor with an outstanding principal balance of approximately $23.6 million at June 30, 2026. Based on current information, we believe the borrower made fraudulent misrepresentations about its accounts receivable, collateral and historical financial statements and, as a result, in the second quarter of 2026, we recognized an approximate $22.0 million charge-off on this loan, or an annualized net charge-off of 0.75%. The second is a loan to a technology company with an outstanding principal balance of approximately $16.0 million at June 30, 2026. Based on recent developments impacting the borrower’s business, including deterioration in the borrower’s financial performance in the second quarter, we recognized a $12.9 million charge-off on this loan in the second quarter of 2026.

In connection with the acquisition of First Foundation, we recorded an initial allowance for credit losses of $92.5 million using the gross up approach, comprised of a $39 million reserve for purchased credit deteriorated loans that exhibited a more-than-insignificant amount of credit deterioration since origination and a $53.5 million reserve on purchased seasoned loans. The allowance for credit losses as a percentage of loans outstanding was 1.50% at June 30, 2026, an increase of 30 basis points from the prior quarter. The ratio of nonperforming assets to total assets was 1.32% at June 30, 2026, compared to 0.82% at March 31, 2026.

Noninterest income totaled $40.9 million for the second quarter of 2026, an increase of $13.8 million from the prior quarter. Income from trust and investment advisory fees increased $7.9 million for the second quarter of 2026 from the prior quarter, primarily due to higher assets under management associated with the acquisition of First Foundation. Income from mortgage banking services increased $1.6 million for the second quarter of 2026 from the prior quarter, primarily due to an increase in loan originations sold and corresponding capitalized servicing rights as well as slower balance runoff in the servicing portfolio. Other noninterest income increased $3.3 million for the second quarter of 2026 from the prior quarter, primarily due to an increase in the fair value of investments related to our deferred compensation plan partially offset by a write-down of an OREO property.

Noninterest expense totaled $171.7 million for the second quarter of 2026, an increase of $96.4 million from the prior quarter. Merger related expenses increased $54.9 million in the second quarter of 2026 from the prior quarter. Salary and employee benefits increased $21.4 million in the second quarter of 2026 from the prior quarter, primarily due to an increase in headcount associated with the acquisition of First Foundation. Other noninterest expense increased $8.1 million in the second quarter of 2026 from the prior quarter, primarily due to higher data processing and FDIC insurance expenses associated with our increased scale following the acquisition of First Foundation.

This press release (including the tables beginning on page 17) contains financial measures determined by methods other than in accordance with accounting principles generally accepted in the United States (“GAAP”). Our management uses these non-GAAP financial measures in their analysis of our performance and the efficiency of our operations. Management believes these non-GAAP measures provide a greater understanding of ongoing operations, enhance comparability of results with prior periods and demonstrate the effects of significant items in the current period. We believe a meaningful analysis of our financial performance requires an understanding of the factors underlying that performance. Our management believes investors may find these non-GAAP financial measures useful. These non-GAAP financial measures, however, should not be viewed as a substitute for financial measures determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other companies. Below is a listing of the non-GAAP measures used in this press release:

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are forward-looking statements. Examples of forward-looking statements include, but are not limited to, statements regarding our markets, our merger with First Foundation, including our belief regarding the benefits of the merger and our recently completed balance sheet repositioning on our franchise, the strength of our core business, our ability to drive growth, and that we are well positioned for future success. These statements reflect management’s current expectations and are not guarantees of future performance. Words such as “focus,” “confident,” “may,” “will,” “believe,” “anticipate,” “expect,” “intend,” “opportunity,” “continue,” “should,” “could,” “excited,” “progress” and variations of such words and similar expressions are intended to identify such forward-looking statements. Forward-looking statements are subject to risks, uncertainties and assumptions that are difficult to predict with regard to timing, extent, likelihood and degree of occurrence, which could cause actual results to differ materially from anticipated results. Such risks, uncertainties and assumptions, include, among others, the following: changes in interest rates and their related impact on macroeconomic conditions, customer behavior, our funding costs and our loan and securities portfolios; the quality or composition of our loan or investment portfolios and changes therein; failure to maintain our mortgage production flow to secondary markets; the sufficiency of liquidity and changes in our capital position; the inability of our infrastructure initiatives to reduce expenses; increased deposit volatility; potential regulatory developments; U.S. and global trade policies and tensions, including change in, or the imposition of, tariffs and/or trade barriers and the economic impacts, volatility and uncertainty resulting therefrom; ongoing geopolitical conflicts, including hostilities involving Iran and the Middle East, which may contribute to volatility in energy prices, inflation, financial markets, cybersecurity threats, and broader macroeconomic conditions, any of which could adversely affect our borrowers, deposit base, liquidity, capital and results of operation; the possibility that the anticipated benefits of the First Foundation merger, including anticipated cost savings and strategic gains, are not realized when expected or at all; the integration of the businesses and operations of FirstSun and First Foundation may take longer than anticipated or be more costly than anticipated or have unanticipated adverse results relating to the combined company’s business; the diversion of management’s attention from ongoing business operations and opportunities due to the First Foundation merger; other factors, many of which are beyond our control.

We caution readers that the foregoing list of factors is not exclusive, is not necessarily in order of importance and readers should not place undue reliance on any forward-looking statements. Additional information concerning additional factors that could materially affect the forward-looking statements in this press release can be found in the cautionary language included under the headings “Cautionary Note Regarding Forward-Looking Statements” and “Risk Factors” in FirstSun’s Annual Report on Form 10-K for the year ended December 31, 2025 and other documents subsequently filed by FirstSun with the SEC. Further, any forward-looking statement speaks only as of the date on which it is made and we do not intend to and disclaim any obligation to update or revise any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events, except as required by law.

Summary Data:


	As of and for the three months ended
($ in thousands, except per share amounts)	June 30, 2026			March 31, 2026			December 31, 2025			September 30, 2025			June 30, 2025
Net interest income	$	143,195		$	82,779		$	83,461		$	80,953		$	78,499
Provision for credit losses	40,400			8,250			6,200			10,100			4,500
Noninterest income	40,948			27,175			26,744			26,333			27,073
Noninterest expense	171,712			75,341			72,041			68,901			68,110
(Loss) income before income taxes	(27,969)			26,363			31,964			28,285			32,962
(Benefit) provision for income taxes	(5,119)			4,780			7,157			5,111			6,576
Net (loss) income	(22,850)			21,583			24,807			23,174			26,386
Adjusted net income1	21,021			23,673			26,923			23,412			26,601
Weighted average common shares outstanding, basic	46,673,555			27,851,041			27,839,044			27,801,255			27,783,710
Weighted average common shares outstanding, diluted	46,673,555			28,316,608			28,262,530			28,291,778			28,232,319
Diluted (loss) earnings per share	$	(0.49)		$	0.76		$	0.88		$	0.82		$	0.93
Adjusted diluted earnings per share1	0.45			0.84			0.95			0.83			0.94
Return on average total assets	(0.54)		%	1.04		%	1.17		%	1.09		%	1.28		%
Adjusted return on average total assets1	0.50		%	1.14		%	1.27		%	1.10		%	1.29		%
Return on average stockholders' equity	(4.92)		%	7.47		%	8.58		%	8.22		%	9.74		%
Adjusted return on average stockholders' equity1	4.52		%	8.20		%	9.31		%	8.31		%	9.82		%
Return on average tangible stockholders' equity1	(4.69)		%	8.31		%	9.58		%	9.20		%	10.91		%
Adjusted return on average tangible stockholders' equity1	5.86		%	9.10		%	10.38		%	9.30		%	11.00		%
Net interest margin	3.58		%	4.25		%	4.18		%	4.07		%	4.07		%
Net interest margin (FTE basis)1	3.63		%	4.31		%	4.23		%	4.12		%	4.13		%
Efficiency ratio	93.25		%	68.52		%	65.37		%	64.22		%	64.52		%
Adjusted efficiency ratio1	61.99		%	66.08		%	63.36		%	64.00		%	64.25		%
Noninterest income to total revenue2	22.2		%	24.7		%	24.3		%	24.5		%	25.6		%
Total assets	$	15,717,985		$	8,565,123		$	8,485,162		$	8,495,437		$	8,435,861
Loans held-for-sale	140,706			144,407			100,539			85,250			90,781
Loans held-for-investment	11,568,443			6,939,972			6,673,180			6,681,629			6,507,066
Total deposits	13,418,004			7,087,513			7,107,356			7,105,415			7,100,164
Total stockholders' equity	1,837,392			1,175,507			1,153,356			1,127,513			1,095,402
Loan to deposit ratio	86.2		%	97.9		%	93.9		%	94.0		%	91.6		%
Period end common shares outstanding	46,765,434			27,935,888			27,887,337			27,854,764			27,834,525
Book value per share	$	39.29		$	42.08		$	41.36		$	40.48		$	39.35
Tangible book value per share1	35.16			38.57			37.83			36.92			35.77
1 Represents a non-GAAP financial measure. See the tables beginning on page 17 for a reconciliation of each non-GAAP measure to the most comparable GAAP equivalent.
2 Total revenue is net interest income plus noninterest income.


	As of and for the six months ended
($ in thousands, except per share amounts)		June 30, 2026			June 30, 2025
Net interest income		$	225,974		$	152,977
Provision for credit losses		48,650			8,300
Noninterest income		68,123			48,802
Noninterest expense		247,053			130,832
(Loss) income before income taxes		(1,606)			62,647
(Benefit) provision for income taxes		(339)			12,692
Net (loss) income		(1,267)			49,955
Adjusted net income1		44,694			50,170
Weighted average common shares outstanding, basic		37,314,285			27,753,098
Weighted average common shares outstanding, diluted		37,314,285			28,263,943
Diluted (loss) earnings per share		$	(0.03)		$	1.77
Adjusted diluted earnings per share1		$	1.20		$	1.78
Return on average total assets		(0.02)		%	1.24		%
Adjusted return on average total assets1		0.71		%	1.25		%
Return on average stockholders' equity		(0.17)		%	9.39		%
Adjusted return on average stockholders’ equity1		5.93		%	9.43		%
Return on average tangible stockholders' equity1		0.36		%	10.55		%
Adjusted return on average tangible stockholders' equity1		7.12		%	10.60		%
Net interest margin		3.80		%	4.07		%
Net interest margin (FTE basis)1		3.85		%	4.13		%
Efficiency ratio		84.00		%	64.84		%
Adjusted efficiency ratio1		63.52		%	64.70		%
Noninterest income to total revenue2		23.2		%	24.2		%
Total assets		$	15,717,985		$	8,435,861
Loans held-for-sale		140,706			90,781
Loans held-for-investment		11,568,443			6,507,066
Total deposits		13,418,004			7,100,164
Total stockholders' equity		1,837,392			1,095,402
Loan to deposit ratio		86.2		%	91.6		%
Period end common shares outstanding		46,765,434			27,834,525
Book value per share		$	39.29		$	39.35
Tangible book value per share1		$	35.16		$	35.77
1 Represents a non-GAAP financial measure. See the tables beginning on page 17 for a reconciliation of each non-GAAP measure to the most comparable GAAP equivalent.
2 Total revenue is net interest income plus noninterest income.


	For the three months ended		For the six months ended
($ in thousands, except per share amounts)	June 30, 2026			June 30, 2025		June 30, 2026		June 30, 2025
Total interest income	$	230,016		$	116,921	$	346,142	$	227,368
Total interest expense	86,821			38,422		120,168		74,391
Net interest income	143,195			78,499		225,974		152,977
Provision for credit losses	40,400			4,500		48,650		8,300
Net interest income after credit loss expense	102,795			73,999		177,324		144,677
Noninterest income:
Deposit account service fees	2,292			2,016		4,388		4,043
Treasury management service fees	5,067			4,333		9,680		8,527
Credit and debit card fees	2,952			2,728		5,665		5,314
Trust and investment advisory fees	9,413			1,473		10,902		2,894
Mortgage banking services, net	15,958			13,274		30,273		22,329

Other noninterest income	5,266			3,249		7,215		5,695
Total noninterest income	40,948			27,073		68,123		48,802
Noninterest expense:
Salary and employee benefits	68,744			43,921		116,100		83,482
Occupancy, equipment and software	15,504			9,541		25,510		19,077
Customer service costs	2,742			—		2,742		—
Amortization and impairment of intangible assets	4,237			578		4,744		1,206
Merger related expenses	57,559			285		60,240		285
Other noninterest expenses	22,926			13,785		37,717		26,782
Total noninterest expense	171,712			68,110		247,053		130,832
(Loss) income before income taxes	(27,969)			32,962		(1,606)		62,647
(Benefit) provision for income taxes	(5,119)			6,576		(339)		12,692
Net (loss) income	$	(22,850)		$	26,386	$	(1,267)	$	49,955
(Loss) earnings per share - basic	$	(0.49)		$	0.95	$	(0.03)	$	1.80
(Loss) earnings per share - diluted	(0.49)			0.93		$	(0.03)	$	1.77


	For the three months ended
($ in thousands, except per share amounts)	June 30, 2026		March 31, 2026		December 31, 2025		September 30, 2025		June 30, 2025
Total interest income	$	230,016	$	116,126	$	119,273	$	121,128	$	116,921
Total interest expense	86,821		33,347		35,812		40,175		38,422
Net interest income	143,195		82,779		83,461		80,953		78,499
Provision for credit losses	40,400		8,250		6,200		10,100		4,500
Net interest income after credit loss expense	102,795		74,529		77,261		70,853		73,999
Noninterest income:
Deposit account service fees	2,292		2,096		2,116		2,162		2,016
Treasury management service fees	5,067		4,613		4,544		4,402		4,333
Credit and debit card fees	2,952		2,713		2,744		2,671		2,728
Trust and investment advisory fees	9,413		1,489		1,515		1,536		1,473
Mortgage banking services, net	15,958		14,315		12,102		12,641		13,274

Other noninterest income	5,266		1,949		3,723		2,921		3,249
Total noninterest income	40,948		27,175		26,744		26,333		27,073
Noninterest expense:
Salary and employee benefits	68,744		47,356		43,520		44,822		43,921
Occupancy, equipment and software	15,504		10,006		9,576		9,591		9,541
Customer service costs	2,742		—		—		—		—
Amortization and impairment of intangible assets	4,237		507		628		578		578
Merger related expenses	57,559		2,681		2,217		241		285
Other noninterest expenses	22,926		14,791		16,100		13,669		13,785
Total noninterest expense	171,712		75,341		72,041		68,901		68,110
(Loss) income before income taxes	(27,969)		26,363		31,964		28,285		32,962
(Benefit) provision for income taxes	(5,119)		4,780		7,157		5,111		6,576
Net (loss) income	$	(22,850)	$	21,583	$	24,807	$	23,174	$	26,386
(Loss) earnings per share - basic	$	(0.49)	$	0.77	$	0.89	$	0.83	$	0.95
(Loss) earnings per share - diluted	(0.49)		0.76		0.88		0.82		0.93


($ in thousands)	June 30, 2026		March 31, 2026		December 31, 2025		September 30, 2025		June 30, 2025
Assets
Cash and cash equivalents	$	989,511	$	413,732	$	652,592	$	659,899	$	785,115
Securities available-for-sale, at fair value	1,907,374		458,543		468,970		476,114		473,468
Securities held-to-maturity	33,274		33,553		33,839		34,247		34,581
Loans held-for-sale, at fair value	140,706		144,407		100,539		85,250		90,781
Loans	11,568,443		6,939,972		6,673,180		6,681,629		6,507,066
Allowance for credit losses	(173,551)		(82,955)		(85,016)		(84,040)		(82,993)
Loans, net	11,394,892		6,857,017		6,588,164		6,597,589		6,424,073
Mortgage servicing rights, at fair value	99,736		88,993		86,651		85,695		84,736
Premises and equipment, net	118,967		81,138		81,523		81,886		82,248
Other real estate owned and foreclosed assets, net	16,808		10,908		11,514		13,418		13,052
Goodwill	102,536		93,483		93,483		93,483		93,483
Core deposits and other intangible assets, net	90,452		4,476		4,983		5,650		6,228
Other assets	823,729		378,873		362,904		362,206		348,096
Total assets	$	15,717,985	$	8,565,123	$	8,485,162	$	8,495,437	$	8,435,861
Liabilities and Stockholders' Equity
Liabilities:
Deposits:
Noninterest-bearing accounts	$	2,673,289	$	1,599,919	$	1,651,373	$	1,674,497	$	1,706,678
Interest-bearing accounts:
Demand and NOW	2,869,439		1,569,910		1,483,841		1,457,886		1,485,058
Savings	2,409,906		387,140		378,631		386,235		397,120
Money market	3,453,761		2,318,768		2,301,837		2,233,309		2,082,043
Certificates of deposit	2,011,609		1,211,776		1,291,674		1,353,488		1,429,265
Total deposits	13,418,004		7,087,513		7,107,356		7,105,415		7,100,164
Securities sold under agreements to repurchase	17,475		7,670		11,160		9,824		11,173
Federal Home Loan Bank advances	—		75,000		—		—		—
Subordinated debt, net	205,256		36,754		36,680		76,163		76,066
Other liabilities	239,858		182,679		176,610		176,522		153,056
Total liabilities	13,880,593		7,389,616		7,331,806		7,367,924		7,340,459
Stockholders' equity:
Preferred stock	—		—		—		—		—
Common stock	5		3		3		3		3
Additional paid-in capital	1,238,000		550,709		549,617		548,952		547,950

Retained earnings	629,819		652,669		631,086		606,279		583,105
Accumulated other comprehensive loss, net	(30,432)		(27,874)		(27,350)		(27,721)		(35,656)
Total stockholders' equity	1,837,392		1,175,507		1,153,356		1,127,513		1,095,402
Total liabilities and stockholders' equity	$	15,717,985	$	8,565,123	$	8,485,162	$	8,495,437	$	8,435,861



	June 30, 2026		March 31, 2026		December 31, 2025		September 30, 2025		June 30, 2025
Stockholders' equity to total assets	11.69	%	13.72	%	13.59	%	13.27	%	12.99	%
Tangible stockholders' equity to tangible assets1	10.59	%	12.73	%	12.58	%	12.25	%	11.94	%
Tangible stockholders' equity to tangible assets reflecting net unrealized losses on HTM securities, net of tax1, 2	10.57	%	12.69	%	12.54	%	12.21	%	11.90	%
Tier 1 leverage ratio	9.47	%	13.06	%	12.75	%	12.44	%	12.39	%
Common equity tier 1 risk-based capital ratio	11.95	%	13.77	%	14.12	%	13.79	%	13.78	%
Tier 1 risk-based capital ratio	11.95	%	13.77	%	14.12	%	13.79	%	13.78	%
Total risk-based capital ratio	14.13	%	15.29	%	15.73	%	15.81	%	15.94	%
1 Represents a non-GAAP financial measure. See the tables beginning on page 17 for a reconciliation of each non-GAAP measure to the most comparable GAAP equivalent. 2 Tangible stockholders’ equity and tangible assets have been adjusted to reflect net unrealized losses on held-to-maturity securities, net of tax.


	For the three months ended						For the six months ended
	June 30, 2026		June 30, 2025				June 30, 2026			June 30, 2025
(In thousands)	Average Balance		Average Yield/Rate		Average Balance			Average Yield/Rate		Average Balance		Average Yield/Rate		Average Balance		Average Yield/Rate
Interest Earning Assets

Loans1	$	12,694,317	6.16	%	$	6,620,493		6.43	%	$	9,792,021	6.23	%	$	6,521,154	6.39	%
Investment securities	2,093,214		4.80	%	510,350			3.48	%	1,300,988		4.51	%	506,103		3.51	%
Interest-bearing cash and other assets	1,244,337		3.20	%	596,713			4.28	%	895,720		3.25	%	549,050		4.32	%
Total earning assets	16,031,868		5.75	%	7,727,556			6.07	%	11,988,729		5.82	%	7,576,307		6.05	%
Other assets	962,089				537,156					743,804				543,032
Total assets	$	16,993,957			$	8,264,712				$	12,732,533			$	8,119,339

Interest-bearing liabilities
Demand and NOW deposits	$	3,012,754	2.06	%	$	1,518,316		1.77	%	$	2,273,546	1.94	%	$	1,495,079	1.71	%
Savings deposits	2,428,253		2.70	%	401,093			0.58	%	1,410,791		2.40	%	400,948		0.58	%
Money market deposits	3,611,570		2.97	%	1,934,487			3.28	%	2,955,179		2.92	%	1,813,344		3.19	%
Certificates of deposit	2,798,815		3.35	%	1,504,235			3.76	%	2,007,012		3.34	%	1,525,814		3.84	%
Total deposits	11,851,392		2.77	%	5,358,131			2.78	%	8,646,528		2.67	%	5,235,185		2.76	%
Repurchase agreements	23,468		2.61	%	9,024			1.61	%	16,628		2.34	%	9,318		1.59	%
Total deposits and repurchase agreements	11,874,860		2.77	%	5,367,155			2.78	%	8,663,156		2.67	%	5,244,503		2.76	%
FHLB borrowings	149,374		3.97	%	2,308			4.72	%	75,646		3.95	%	15,823		4.61	%
Other long-term borrowings	204,667		6.46	%	76,025			6.19	%	121,157		6.36	%	75,966		6.31	%
Total interest-bearing liabilities	12,228,901		2.85	%	5,445,488			2.83	%	8,859,959		2.74	%	5,336,292		2.81	%
Noninterest-bearing deposits	2,622,311				1,587,302					2,125,679				1,559,878
Other liabilities	278,849				145,064					227,357				150,172
Stockholders' equity	1,863,896				1,086,858					1,519,538				1,072,997
Total liabilities and stockholders' equity	$	16,993,957			$	8,264,712				$	12,732,533			$	8,119,339


Net interest spread			2.90	%				3.24	%			3.08	%			3.24	%
Net interest margin			3.58	%				4.07	%			3.80	%			4.07	%
Net interest margin (on FTE basis)2			3.63	%				4.13	%			3.85	%			4.13	%
1 Includes loans held-for-investment, including nonaccrual loans, and loans held-for-sale.
2 Represents a non-GAAP financial measure. See the tables beginning on page 17 for a reconciliation of each non-GAAP measure to the most comparable GAAP equivalent.


	For the three months ended
	June 30, 2026		March 31, 2026				December 31, 2025			September 30, 2025		June 30, 2025
(In thousands)	Average Balance		Average Yield/Rate		Average Balance			Average Yield/Rate		Average Balance		Average Yield/Rate		Average Balance		Average Yield/Rate		Average Balance		Average Yield/Rate
Interest Earning Assets

Loans1	$	12,694,317	6.16	%	$	6,857,477		6.36	%	$	6,825,404	6.37	%	$	6,667,158	6.49	%	$	6,620,493	6.43	%
Investment securities	2,093,214		4.80	%	499,792			3.30	%	506,964		3.35	%	505,999		3.43	%	510,350		3.48	%
Interest-bearing cash and other assets	1,244,337		3.20	%	543,396			3.36	%	583,717		3.68	%	714,885		4.25	%	596,713		4.28	%
Total earning assets	16,031,868		5.75	%	7,900,665			5.96	%	7,916,085		5.98	%	7,888,042		6.09	%	7,727,556		6.07	%
Other assets	962,089				523,094					519,607				540,079				537,156
Total assets	$	16,993,957			$	8,423,759				$	8,435,692			$	8,428,121			$	8,264,712

Interest-bearing liabilities
Demand and NOW deposits	$	3,012,754	2.06	%	$	1,526,124		1.69	%	$	1,464,053	1.75	%	$	1,437,298	1.89	%	$	1,518,316	1.77	%
Savings deposits	2,428,253		2.70	%	382,025			0.50	%	381,978		0.55	%	391,444		0.59	%	401,093		0.58	%
Money market deposits	3,611,570		2.97	%	2,291,494			2.84	%	2,247,034		2.99	%	2,211,754		3.28	%	1,934,487		3.28	%
Certificates of deposit	2,798,815		3.35	%	1,206,411			3.32	%	1,284,200		3.49	%	1,397,371		3.64	%	1,504,235		3.76	%
Total deposits	11,851,392		2.77	%	5,406,054			2.46	%	5,377,265		2.60	%	5,437,867		2.81	%	5,358,131		2.78	%
Repurchase agreements	23,468		2.61	%	9,712			1.70	%	9,146		1.71	%	8,055		1.82	%	9,024		1.61	%
Total deposits and repurchase agreements	11,874,860		2.77	%	5,415,766			2.46	%	5,386,411		2.60	%	5,445,922		2.81	%	5,367,155		2.78	%
FHLB borrowings	149,374		3.97	%	1,100			3.12	%	—		—	%	—		—	%	2,308		4.72	%
Other long-term borrowings	204,667		6.46	%	36,719			5.72	%	36,650		5.82	%	76,117		8.41	%	76,025		6.19	%
Total interest-bearing liabilities	12,228,901		2.85	%	5,453,585			2.48	%	5,423,061		2.62	%	5,522,039		2.89	%	5,445,488		2.83	%
Noninterest-bearing deposits	2,622,311				1,623,528					1,698,126				1,642,346				1,587,302
Other liabilities	278,849				175,292					167,658				145,730				145,064
Stockholders' equity	1,863,896				1,171,354					1,146,847				1,118,006				1,086,858
Total liabilities and stockholders' equity	$	16,993,957			$	8,423,759				$	8,435,692			$	8,428,121			$	8,264,712


Net interest spread			2.90	%				3.48	%			3.36	%			3.20	%			3.24	%
Net interest margin			3.58	%				4.25	%			4.18	%			4.07	%			4.07	%
Net interest margin (on FTE basis)2			3.63	%				4.31	%			4.23	%			4.12	%			4.13	%
1 Includes loans held-for-investment, including nonaccrual loans, and loans held-for-sale.
2 Represents a non-GAAP financial measure. See the tables beginning on page 17 for a reconciliation of each non-GAAP measure to the most comparable GAAP equivalent.



($ in thousands)	June 30, 2026		March 31, 2026		December 31, 2025		September 30, 2025		June 30, 2025
Consumer
Noninterest-bearing deposit accounts	$	1,000,584	$	410,296	$	404,666	$	412,568	$	426,909
Interest-bearing deposit accounts:
Demand and NOW	937,796		607,465		590,535		598,499		610,623
Savings	1,917,926		313,910		308,655		314,954		322,672
Money market	2,039,795		1,397,890		1,400,593		1,416,258		1,306,140
Certificates of deposit	1,044,959		793,503		809,401		869,077		937,439
Total interest-bearing deposit accounts	5,940,476		3,112,768		3,109,184		3,198,788		3,176,874
Total consumer deposits	$	6,941,060	$	3,523,064	$	3,513,850	$	3,611,356	$	3,603,783
Business
Noninterest-bearing deposit accounts	$	1,672,705	$	1,189,623	$	1,246,707	$	1,261,929	$	1,279,769
Interest-bearing deposit accounts:
Demand and NOW	1,905,387		962,445		893,306		859,387		874,435
Savings	434,076		73,230		69,976		71,281		74,448
Money market	1,413,966		920,878		901,244		817,051		775,903
Certificates of deposit	103,360		51,940		57,349		57,225		56,930
Total interest-bearing deposit accounts	3,856,789		2,008,493		1,921,875		1,804,944		1,781,716
Total business deposits	$	5,529,494	$	3,198,116	$	3,168,582	$	3,066,873	$	3,061,485
Wholesale deposits1	$	947,450	$	366,333	$	424,924	$	427,186	$	434,896
Total deposits	$	13,418,004	$	7,087,513	$	7,107,356	$	7,105,415	$	7,100,164
1 Wholesale deposits primarily consist of brokered deposits included in our condensed consolidated balance sheets within certificates of deposit.



	June 30, 2026		March 31, 2026		December 31, 2025		September 30, 2025		June 30, 2025
Cash to total assets1	6.2	%	4.7	%	7.6	%	7.7	%	9.2	%
Loan to deposit ratio	86.2	%	97.9	%	93.9	%	94.0	%	91.6	%
Uninsured deposits to total deposits2	31.6	%	35.4	%	36.6	%	36.2	%	37.0	%
Uninsured and uncollateralized deposits to total deposits2	28.0	%	28.6	%	29.0	%	28.3	%	28.3	%

Wholesale deposits and borrowings to total liabilities3	6.8	%	6.0	%	5.8	%	5.8	%	5.9	%


1 Cash consists of unencumbered cash and amounts due from banks and interest-bearing deposits with other financial institutions. 2 Uninsured deposits and uninsured and uncollateralized deposits are reported for our wholly-owned subsidiary Sunflower Bank, N.A. and are estimated. 3 Wholesale deposits primarily consist of brokered deposits included in our condensed consolidated balance sheets within certificates of deposit. Wholesale borrowings consist of FHLB overnight and term advances.



($ in thousands)	June 30, 2026		March 31, 2026		December 31, 2025		September 30, 2025		June 30, 2025
Commercial and industrial1	$	3,579,772	$	3,160,777	$	2,937,867	$	2,945,697	$	2,779,767
Commercial real estate:
Non-owner occupied	1,195,172		778,778		742,002		725,425		705,749
Owner occupied	951,226		694,190		700,774		668,172		660,334
Construction and land	218,441		280,781		268,652		343,803		383,969
Multifamily	2,613,194		227,980		210,368		183,504		134,520
Total commercial real estate	4,978,033		1,981,729		1,921,796		1,920,904		1,884,572
Residential real estate2	1,913,575		1,216,810		1,221,086		1,209,742		1,226,760
Public Finance	957,556		494,539		501,582		516,247		524,441
Consumer	29,569		31,875		32,651		38,931		42,881
Other	114,047		54,242		58,198		50,108		48,645
Loans, excluding loan hedge fair value	11,572,552		6,939,972		6,673,180		6,681,629		6,507,066
Loan hedge fair value3	(4,109)		—		—		—		—
Loans	$	11,568,443	$	6,939,972	$	6,673,180	$	6,681,629	$	6,507,066
1As of September 30, 2025, loans to nondepository financial institutions are now included within commercial and industrial. Prior period amounts have been reclassified to conform to the current presentation. 2 Includes 1-4 family residential construction. 3 Represents fair value hedge basis adjustments related to active portfolio layer method hedges, which are not allocated to individual loans.


	As of and for the three months ended
($ in thousands)	June 30, 2026			March 31, 2026			December 31, 2025			September 30, 2025			June 30, 2025
Net charge-offs (recoveries)	$	42,404		$	10,561		$	5,024		$	9,053		$	13,547
Allowance for credit losses	173,551			82,955			85,016			84,040			82,993
Nonperforming loans, including nonaccrual loans, and accrual loans greater than 90 days past due	190,115			59,656			60,771			69,641			54,841
Nonperforming assets	206,923			70,564			72,285			83,059			67,893
Ratio of net charge-offs (recoveries) to average loans outstanding	1.45		%	0.63		%	0.30		%	0.55		%	0.83		%
Allowance for credit losses to loans outstanding	1.50		%	1.20		%	1.27		%	1.26		%	1.28		%

Allowance for credit losses to nonperforming loans	91.29		%	139.06		%	139.90		%	120.68		%	151.33		%
Nonperforming loans to loans	1.64		%	0.86		%	0.91		%	1.04		%	0.84		%
Nonperforming assets to total assets	1.32		%	0.82		%	0.85		%	0.98		%	0.80		%


Non-GAAP Financial Measures and Reconciliations:

	As of and for the three months ended															As of and for the six months ended
($ in thousands, except share and per share amounts)	June 30, 2026			March 31, 2026			December 31, 2025			September 30, 2025			June 30, 2025			June 30, 2026			June 30, 2025
Tangible stockholders’ equity to tangible assets:
Total stockholders' equity (GAAP)	$	1,837,392		$	1,175,507		$	1,153,356		$	1,127,513		$	1,095,402		$	1,837,392		$	1,095,402
Less: Goodwill and other intangible assets
Goodwill	(102,536)			(93,483)			(93,483)			(93,483)			(93,483)			(102,536)			(93,483)
Other intangible assets	(90,452)			(4,476)			(4,983)			(5,650)			(6,228)			(90,452)			(6,228)
Tangible stockholders' equity (non-GAAP)	$	1,644,404		$	1,077,548		$	1,054,890		$	1,028,380		$	995,691		$	1,644,404		$	995,691
Total assets (GAAP)	$	15,717,985		$	8,565,123		$	8,485,162		$	8,495,437		$	8,435,861		$	15,717,985		$	8,435,861
Less: Goodwill and other intangible assets
Goodwill	(102,536)			(93,483)			(93,483)			(93,483)			(93,483)			(102,536)			(93,483)
Other intangible assets	(90,452)			(4,476)			(4,983)			(5,650)			(6,228)			(90,452)			(6,228)
Tangible assets (non-GAAP)	$	15,524,997		$	8,467,164		$	8,386,696		$	8,396,304		$	8,336,150		$	15,524,997		$	8,336,150
Total stockholders' equity to total assets (GAAP)	11.69		%	13.72		%	13.59		%	13.27		%	12.99		%	11.69		%	12.99		%
Less: Impact of goodwill and other intangible assets	(1.10)		%	(0.99)		%	(1.01)		%	(1.02)		%	(1.05)		%	(1.10)		%	(1.05)		%
Tangible stockholders' equity to tangible assets (non-GAAP)	10.59		%	12.73		%	12.58		%	12.25		%	11.94		%	10.59		%	11.94		%
Tangible stockholders’ equity to tangible assets, reflecting net unrealized losses on HTM securities, net of tax:
Tangible stockholders' equity (non-GAAP)	$	1,644,404		$	1,077,548		$	1,054,890		$	1,028,380		$	995,691		$	1,644,404		$	995,691
Less: Net unrealized losses on HTM securities, net of tax	(3,553)			(3,407)			(3,320)			(3,432)			(4,238)			(3,553)			(4,238)
Tangible stockholders’ equity less net unrealized losses on HTM securities, net of tax (non-GAAP)	$	1,640,851		$	1,074,141		$	1,051,570		$	1,024,948		$	991,453		$	1,640,851		$	991,453
Tangible assets (non-GAAP)	$	15,524,997		$	8,467,164		$	8,386,696		$	8,396,304		$	8,336,150		$	15,524,997		$	8,336,150
Less: Net unrealized losses on HTM securities, net of tax	(3,553)			(3,407)			(3,320)			(3,432)			(4,238)			(3,553)			(4,238)
Tangible assets less net unrealized losses on HTM securities, net of tax (non-GAAP)	$	15,521,444		$	8,463,757		$	8,383,376		$	8,392,872		$	8,331,912		$	15,521,444		$	8,331,912
Tangible stockholders’ equity to tangible assets (non-GAAP)	10.59		%	12.73		%	12.58		%	12.25		%	11.94		%	10.59		%	11.94		%
Less: Impact of net unrealized losses on HTM securities, net of tax	(0.02)		%	(0.04)		%	(0.04)		%	(0.04)		%	(0.04)		%	(0.02)		%	(0.04)		%
Tangible stockholders’ equity to tangible assets reflecting net unrealized losses on HTM securities, net of tax (non-GAAP)	10.57		%	12.69		%	12.54		%	12.21		%	11.90		%	10.57		%	11.90		%


Non-GAAP Financial Measures and Reconciliations:

	As of and for the three months ended															As of and for the six months ended
($ in thousands, except share and per share amounts)	June 30, 2026			March 31, 2026			December 31, 2025			September 30, 2025			June 30, 2025			June 30, 2026			June 30, 2025
Tangible book value per share:
Total stockholders' equity (GAAP)	$	1,837,392		$	1,175,507		$	1,153,356		$	1,127,513		$	1,095,402		$	1,837,392		$	1,095,402
Tangible stockholders' equity (non-GAAP)	1,644,404			1,077,548			1,054,890			1,028,380			995,691			$	1,644,404		$	995,691
Total shares outstanding	46,765,434			27,935,888			27,887,337			27,854,764			27,834,525			46,765,434			27,834,525
Book value per share (GAAP)	$	39.29		$	42.08		$	41.36		$	40.48		$	39.35		$	39.29		$	39.35
Tangible book value per share (non-GAAP)	$	35.16		$	38.57		$	37.83		$	36.92		$	35.77		$	35.16		$	35.77
Adjusted net income:
Net (loss) income (GAAP)	$	(22,850)		$	21,583		$	24,807		$	23,174		$	26,386		$	(1,267)		$	49,955
Add: Adjustments
Merger related expenses, net of tax	43,871			2,090			2,116			238			215			45,961			215




Total adjustments, net of tax	43,871			2,090			2,116			238			215			45,961			215
Adjusted net income (non-GAAP)	$	21,021		$	23,673		$	26,923		$	23,412		$	26,601		$	44,694		$	50,170





Adjusted diluted earnings per share:
Diluted (loss) earnings per share (GAAP)	$	(0.49)		$	0.76		$	0.88		$	0.82		$	0.93		$	(0.03)		$	1.77
Add: Impact of adjustments
Merger related expenses, net of tax	0.94			0.08			0.07			0.01			0.01			1.23			0.01



Adjusted diluted earnings per share (non-GAAP)	$	0.45		$	0.84		$	0.95		$	0.83		$	0.94		$	1.20		$	1.78
Adjusted return on average total assets:
Return on average total assets (ROAA) (GAAP)	(0.54)		%	1.04		%	1.17		%	1.09		%	1.28		%	(0.02)		%	1.24		%
Add: Impact of adjustments
Merger related expenses, net of tax	1.04		%	0.10		%	0.10		%	0.01		%	0.01		%	0.73		%	0.01		%



Adjusted ROAA (non-GAAP)	0.50		%	1.14		%	1.27		%	1.10		%	1.29		%	0.71		%	1.25		%





Adjusted return on average stockholders’ equity:
Return on average stockholders' equity (ROAE) (GAAP)	(4.92)		%	7.47		%	8.58		%	8.22		%	9.74		%	(0.17)		%	9.39		%
Add: Impact of adjustments
Merger related expenses, net of tax	9.44		%	0.73		%	0.73		%	0.09		%	0.08		%	6.10		%	0.04		%



Adjusted ROAE (non-GAAP)	4.52		%	8.20		%	9.31		%	8.31		%	9.82		%	5.93		%	9.43		%


Non-GAAP Financial Measures and Reconciliations:

	As of and for the three months ended															As of and for the six months ended
($ in thousands, except share and per share amounts)	June 30, 2026			March 31, 2026			December 31, 2025			September 30, 2025			June 30, 2025			June 30, 2026			June 30, 2025
Return on average tangible stockholders’ equity
Return on average stockholders’ equity (ROAE) (GAAP)	(4.92)		%	7.47		%	8.58		%	8.22		%	9.74		%	(0.17)		%	9.39		%
Add: Impact from goodwill and other intangible assets
Goodwill	(0.57)		%	0.69		%	0.81		%	0.81		%	0.98		%	(0.02)		%	0.97		%
Other intangible assets	0.80		%	0.15		%	0.19		%	0.17		%	0.19		%	0.55		%	0.19		%
Return on average tangible stockholders’ equity (ROATE) (non-GAAP)	(4.69)		%	8.31		%	9.58		%	9.20		%	10.91		%	0.36		%	10.55		%
Adjusted return on average tangible stockholders’ equity:
Return on average tangible stockholders' equity (ROATE) (non-GAAP)	(4.69)		%	8.31		%	9.58		%	9.20		%	10.91		%	0.36		%	10.55		%
Add: Impact of adjustments
Merger related expenses, net of tax	10.55		%	0.79		%	0.80		%	0.10		%	0.09		%	6.75		%	0.04		%



Adjusted ROATE (non-GAAP)	5.86		%	9.10		%	10.38		%	9.30		%	11.00		%	7.12		%	10.60		%

Adjusted total noninterest expense:
Total noninterest expense (GAAP)	$	171,712		$	75,341		$	72,041		$	68,901		$	68,110		$	247,053		$	130,832
Less: Adjustments:
Merger related expenses	(57,559)			(2,681)			(2,217)			(241)			(285)			(60,240)			(285)


Total adjustments	(57,559)			(2,681)			(2,217)			(241)			(285)			(60,240)			(285)
Adjusted total noninterest expense (non-GAAP)	$	114,153		$	72,660		$	69,824		$	68,660		$	67,825		$	186,813		$	130,547

Adjusted efficiency ratio:
Efficiency ratio (GAAP)	93.25		%	68.52		%	65.37		%	64.22		%	64.52		%	84.00		%	64.84		%
Less: Impact of adjustments
Merger related expenses	(31.26)		%	(2.44)		%	(2.01)		%	(0.22)		%	(0.27)		%	(20.48)		%	(0.14)		%


Adjusted efficiency ratio (non-GAAP)	61.99		%	66.08		%	63.36		%	64.00		%	64.25		%	63.52		%	64.70		%













Fully tax equivalent (“FTE”) net interest income and net interest margin:
Net interest income (GAAP)	$	143,195		$	82,779		$	83,461		$	80,953		$	78,499		$	225,974		$	152,977
Gross income effect of tax exempt income	2,198			1,198			1,156			1,225			1,204			3,396			2,396
FTE net interest income (non-GAAP)	$	145,393		$	83,977		$	84,617		$	82,178		$	79,703		$	229,370		$	155,373
Average earning assets	$	16,031,868		$	7,900,665		$	7,916,085		$	7,888,042		$	7,727,556		$	11,988,729		$	7,576,307
Net interest margin	3.58		%	4.25		%	4.18		%	4.07		%	4.07		%	3.80		%	4.07		%
Net interest margin on FTE basis (non-GAAP)	3.63		%	4.31		%	4.23		%	4.12		%	4.13		%	3.85		%	4.13		%


Non-GAAP Financial Measures and Reconciliations:

	As of and for the three months ended										As of and for the six months ended
($ in thousands, except share and per share amounts)	June 30, 2026		March 31, 2026		December 31, 2025		September 30, 2025		June 30, 2025		June 30, 2026		June 30, 2025
Adjusted loan growth
Total loans (GAAP)	$	11,568,443	$	6,939,972	$	6,673,180	$	6,681,629	$	6,507,066	$	11,568,443	$	6,507,066
Less: Acquired loans at date of merger, net of purchase accounting discounts	(6,068,491)		—		—		—		—		(6,068,491)		—
Add: Loans downsized	1,334,483		—		—		—		—		1,334,483		—

Total loans, excluding acquired loans, net of downsizing (non-GAAP)	$	6,834,435	$	6,939,972	$	6,673,180	$	6,681,629	$	6,507,066	$	6,834,435	$	6,507,066
Adjusted deposit growth
Total deposits (GAAP)	$	13,418,004	$	7,087,513	$	7,107,356	$	7,105,415	$	7,100,164	$	13,418,004	$	7,100,164
Less: Acquired deposits at date of merger, net of purchase accounting discounts	(8,772,082)		—		—		—		—		(8,772,082)		—
Add: Deposits downsized	2,525,448		—		—		—		—		2,525,448		—
Total deposits, excluding acquired deposits, net of downsizing (non-GAAP)	$	7,171,370	$	7,087,513	$	7,107,356	$	7,105,415	$	7,100,164	$	7,171,370	$	7,100,164