Pinnacle Financial Partners, Inc. · NYSE:PNFP
Pinnacle Financial Partners — Q4 2025 Earnings Presentation
79 slides from Pinnacle Financial Partners's earnings presentation, Jan 22, 2026
Slide 1: Earnings Results Fourth Quarter 2025
Earnings Results Fourth Quarter 2025
Slide 2: Forward-Looking Statements
Forward-Looking Statements This slide presentation and certain of our other filings with the Securities and Exchange Commission contain statements that constitute "forward-looking statements" within the meaning of, and subject to the protections of, Section 27A of the Securities Act of 1933, as amen
Slide 3: Use of Legacy Pinnacle Non-GAAP Financial Measures
Use of Legacy Pinnacle Non-GAAP Financial Measures This slide presentation contains certain non-GAAP financial measures determined by methods other than in accordance with generally accepted accounting principles. Such non-GAAP financial measures include the following: adjusted net income available
Slide 4: Use of Synovus Non-GAAP Financial Measures
Use of Synovus Non-GAAP Financial Measures This slide presentation contains certain non-GAAP financial measures determined by methods other than in accordance with generally accepted accounting principles. Such non-GAAP financial measures include the following: adjusted net income available to commo
Slide 5: Pinnacle Financial Partners
Pinnacle Financial Partners • Highly Successful Operating and Recruiting Model That Generates Above-Peer Revenue, EPS and TBV Growth • One of the Most Economically Vibrant Footprints in the Banking Industry • Regional Bank Employer of Choice with Industry- Leading Client Service PNFP footprint • Hea
Slide 6: Legacy Pinnacle and Synovus Both Delivered in 2025
Legacy Pinnacle and Synovus Both Delivered in 2025 Excited Team Members Engaged Clients Enriched Shareholders Pinnacle #4 #1 +35% / +22% Best Bank to Work For 2025 YoY GAAP/ American Banker Net Promoter Score (1) Adjusted EPS Growth(2) 2025 Synovus 4.2/5.0 #3 +76% / +28% #1 Employer of Choice in Our
Slide 7: Our Focus is Unchanged
$— $— $250 $500 $750 $250 $500 $750 1Q 1Q 2 2 2Q 1 2Q 1 2 2 3Q 1 3Q 1 2 2 4Q 1 4Q 1 21 21 1Q 1Q 2 2 2Q 2 2Q 2 2 2 3Q 2 3Q 2 2 2 CAGR: 12% CAGR: 11% 4Q 2 4Q 2 2 2 1Q 2 1Q 2 23 23 2Q 2Q 2 2 3Q 3 3Q 3 2 2 4Q 3 4Q 3 2 2 1Q 3 1Q 3 2 2 2Q 4 2Q 4 24 24 3Q 3Q 2 2 4Q 4 4Q 4 2 2 1Q 4 1Q 4 (Legacy Pinnacle Inf
Slide 8: Our Focus is Unchanged
Our Focus is Unchanged (Legacy Pinnacle Information) Period End Loans, in Billions Classified Asset Ratio NCOs/Average Loans $50 8.0% 0.30% 7.0% 0.25% $40 CAGR: 11% 6.0% 0.20% $30 5.0% 4.0% 0.15% $20 3.0% 0.10% 2.0% $10 0.05% 1.0% $— —% —% 2Q 3 1Q 1 23 4Q 4 4Q 1 1Q 2 2Q 4 3Q 5 4Q 3 3Q 2 23 2Q 5 2Q 4
Slide 9: Our Greatest Opportunity
Our Greatest Opportunity Large Market Share Banks – Net Promoter Score vs. Market Share Question: How likely are you to recommend (Lead Provider) to a friend or colleague using a scale of 0-10 where "0" means Not At All Likely and "10" means Extremely Likely? Which bank or financial service provider
Slide 10: What Will Remain Intact
What Will Remain Intact People First Culture Reducing Bureaucracy Distributed accountability across teams Streamlined processes for ease of doing business Empowerment and collaboration at all levels Removing unnecessary layers for faster decisions Geographic-Led Model Speed of Execution Regional lea
Slide 11: What Won't Happen
What Won't Happen Pinnacle Won't Become Pinnacle Won't Lose Another “Big Bank” Its “Secret Sauce” SCALE WITH A SOUL A FINANCIAL SERVICES FIRM THAT Our growth enables big-bank capabilities: JUST DOESN'T COMPETE - IT LEADS. advanced technology, a broader range of NOT BECAUSE OF SIZE, BUT products, dee
Slide 12: Financial Highlights
f i | FINANCIAL PARTNERS Financial Highlights
Slide 13: Legacy Pinnacle's Fourth Quarter 2025 Financial Highlights
Legacy Pinnacle's Fourth Quarter 2025 Financial Highlights Income Statement Summary (GAAP) % Change % Change 4Q25 ($ in thousands, except per share data) QoQ YoY Net Interest Income $407,435 3% 12% Provision for Credit Losses $34,101 7% 15% Non-Interest Revenue $134,769 (9)% 21% Total Revenue $542,2
Slide 14: Legacy Pinnacle's Fourth Quarter 2025 Financial Highlights
Legacy Pinnacle's Fourth Quarter 2025 Financial Highlights Period-End Balance Sheet Growth % Change % Change ($ in millions) 4Q25 QoQ YoY Loans $39,154 3% 10% Deposits $47,397 4% 11% Core Deposits(1) $41,928 3% 10% Non-Interest Bearing Deposits $9,047 1% 11% Profitability Metrics 4Q25 3Q25 4Q24 ROAA
Slide 15: Legacy Pinnacle's 2025 Financial Highlights
Legacy Pinnacle's 2025 Financial Highlights Income Statement Summary (GAAP) % Change 2025 ($ in thousands, except per share data) YoY Net Interest Income $1,548,261 13% Provision for Credit Losses $107,245 (11)% Non-Interest Revenue $506,590 37% Total Revenue $2,054,851 18% Non-Interest Expense $1,1
Slide 16: Legacy Pinnacle's 2025 Financial Highlights
Legacy Pinnacle's 2025 Financial Highlights Period-End Balance Sheet Growth % Change ($ in millions) 2025 YoY Loans $39,154 10% Deposits $47,397 11% Core Deposits(1) $41,928 10% Non-Interest Bearing Deposits $9,047 11% Profitability Metrics 2025 2024 ROAA 1.15% 0.93% Adjusted ROAA(2) 1.19% 1.08% ROC
Slide 17: Synovus' Fourth Quarter 2025 Financial Highlights
Synovus' Fourth Quarter 2025 Financial Highlights Income Statement Summary (GAAP) % Change % Change 4Q25 ($ in thousands, except per share data) QoQ YoY Net Interest Income $484,577 2% 7% Provision for Credit Losses $33,015 52% 0% Non-Interest Revenue $145,094 3% 16% Total Revenue $629,671 2% 8% Non
Slide 18: Synovus' Fourth Quarter 2025 Financial Highlights
Synovus' Fourth Quarter 2025 Financial Highlights Period-End Balance Sheet Growth % Change % Change ($ in millions) 4Q25 QoQ YoY Loans $44,626 2% 5% Deposits $51,324 3% 0% Core Deposits(1) $45,872 2% (1)% Non-Interest Bearing Deposits $11,202 1% (3)% Profitability Metrics 4Q25 3Q25 4Q24 ROAA(2) 1.18
Slide 19: Synovus' 2025 Financial Highlights
Synovus' 2025 Financial Highlights Income Statement Summary (GAAP) % Change 2025 ($ in thousands, except per share data) YoY Net Interest Income $1,873,217 7% Provision for Credit Losses $68,871 (50)% Non-Interest Revenue $536,392 124% Total Revenue $2,409,609 21% Non-Interest Expense $1,322,058 6%
Slide 20: Synovus' 2025 Financial Highlights
Synovus' 2025 Financial Highlights Period-End Balance Sheet Growth % Change ($ in millions) 2025 YoY Loans $44,626 5% Deposits $51,324 0% Core Deposits(1) $45,872 (1)% Non-Interest Bearing Deposits $11,202 (3)% Profitability Metrics 2025 2024 ROAA 1.31% 0.81% Adjusted ROAA(2) 1.40% 1.15% ROCE 14.73%
Slide 21: 2026 Outlook
f i | FINANCIAL PARTNERS 2026 Outlook
Slide 22: Our Incentives Are Aligned
Our Incentives Are Aligned Determinants Determinants of Short-Term of Long-Term Incentives Incentives Internal Goal Adjusted Revenue Growth (1) Setting Tangible Book Value(1) Growth Adjusted EPS(1) Growth Adjusted Return on Tangible Common Equity(1) Total Shareholder Return 2026 Guidance Aligned wit
Slide 23: Estimated Closing Vs. Announcement Merger Details
Estimated Closing Vs. Announcement Merger Details Estimates at Announcement Current Estimate Non-Interest Expense Synergies(1) $250MM No change Non-Interest Expense Synergies Timing(1) 50% in 2026, 75% in 2027, 100% in 2028 40% in 2026, 75% in 2027, 100% in 2028 Merger-Related Expense(2) $720MM incl
Slide 24: 2026 Outlook
2026 Outlook 2026 Outlook Notes Period-End • Supported by revenue producer hiring, specialty lines and legacy market growth $91.0B - $93.0B Loans • Represents 9%-11% loan growth (excluding the Day 1 purchase accounting loan mark) • Supported by revenue producer hiring, specialty lines and legacy mar
Slide 25: 2026E Balance Sheet Growth Attribution
2026E Balance Sheet Growth Attribution Loan Growth Drivers Deposit Growth Drivers Recent Revenue- Producing Hires 25% 35% 35% Revenue-Producing Hires Specialty Businesses 75% 30% Legacy Markets/ Revenue Producers Legacy Markets/ Revenue Producers Broad-based Growth from longer Growth from longer-ten
Slide 26: Estimated Common Equity Tier 1 Ratio at March 31, 2026
Estimated Common Equity Tier 1 Ratio at March 31, 2026 ~11.1% ~ -1.1% Day 1 Marks 0.3%-0.4% ~ -0.2% Combined & Valuation 1Q26 Core EPS 1Q26 Merger ~ -0.2% PNFP & SNV Expense +/- 0.1% CET1 Loan Growth ~10.0% Ratio(1) Dividend & Other Pro Forma Consistent with Expected to be finalized in March 2026; i
Slide 27: Revenue Producer Hiring Should Remain Outsized
Revenue Producer Hiring Should Remain Outsized 250-275 275 225-250 250 230 217 69 83 161 134 *Record Year for PNFP hiring model 2024A 2025A 2026E 2027E Legacy PNFP Legacy SNV New PNFP 27
Slide 28: Estimated Revenue Synergies of $100MM - $130MM
Estimated Revenue Synergies of $100MM - $130MM Expected To Be Realized Over the Next 2-3 Years Note: Relationship Expansion, Capital Markets, Specialty Expertise and Treasury Capabilities information reflects 2025 PNFP and SNV 28
Slide 29: 2026 Priorities
2026 Priorities Strong Period-End Loan and Core Deposit Growth Balanced Loan and Deposit Growth New Deposit and Loan Processes and Systems Cross-organizational initiative to define new state processes New Client Onboarding Onboarding high-impact clients on end-state platform Revenue Synergies and Op
Slide 30: Appendix
f i | FINANCIAL PARTNERS Appendix
Slide 31: Legacy Pinnacle Standalone Fourth Quarter 2025 Supplemental Information
Legacy Pinnacle Standalone Fourth Quarter 2025 Supplemental Information
Slide 32: Market Share Gains Continue to Drive Loan Growth
Market Share Gains Continue to Drive Loan Growth Average Loan Growth and Yields ($ in millions) Highlights $40,000 7.00% 6.50% $38,657 $35,000 $37,693 $36,968 • Period-end loans increased 3% QoQ in 4Q25 compared to 2% 6.00% $36,042 $34,981 Loan Yields $34,082 5.50% $33,517 $30,000 $33,042 $32,372 in
Slide 33: Deposit Growth Remains a Key Focus
Deposit Growth Remains a Key Focus Highlights Average Deposit Growth ($ in millions) $50,000 • Period-end deposits, excluding brokered, increased 3% QoQ 3.00% $46,658 $45,479 2.50% • Period-end noninterest-bearing deposits increased 1% QoQ $40,000 $44,234 $43,019 $41,682 $40,101 $39,454 2.00% $38,99
Slide 34: Loan Growth and Higher NIM Drive Strong NII Growth
Loan Growth and Higher NIM Drive Strong NII Growth Highlights Net Interest Income & Net Interest Margin ($ in millions) $400 3.75% $375 • Net interest income grew 3% QoQ on solid earning asset $350 3.50% growth and modest NIM expansion $325 $300 3.25% • Net interest margin expanded 1 bp to 3.27% $27
Slide 35: Non-Interest Revenue Growth Remains Strong
Non-Interest Revenue Growth Remains Strong Linked-Quarter Annualized Year-over-Year Highlights ($ in Thousands) Service charges $ 4Q25 18,720 $ 3Q25 18,290 $ 4Q24 15,175 Growth % 9% Growth % 23% Investment services 22,340 23,910 19,233 (26)% 16% • Wealth management fee categories collectively Insura
Slide 36: Non-Interest Expense Impacted by Hiring Model
Non-Interest Expense Impacted by Hiring Model Linked-Quarter Year-over-Year ($ in Thousands) 4Q25 3Q25 4Q24 Annualized Growth % Growth % Highlights `````` Salaries and commissions $ 118,333 $ 115,864 $ 105,265 9% 12% Cash and equity incentives 37,332 45,483 36,609 (72)% 2% Employee benefits and othe
Slide 37: Credit Performance Remains Healthy
1Q 2 2Q 1 2 • • • 3Q 1 2 4Q 1 2 1Q 1 4.1% 22 2Q 2 3Q 2 2 4Q 2 2 1Q 2 2.4% 2 2Q 3 2 3Q 3 2 4Q 3 2 off totaling $16.9MM 1Q 3 5.2% 2 Highlights 2Q 4 2 NCOs were 0.28% in 4Q25 3Q 4 24 Classified Asset Ratio 4Q 2 1Q 4 3.8% 2 2Q 5 2 3Q 5 2 NPAs declined QoQ to 0.36% in 4Q25 4Q 5 non-owner occupied CRE cre
Slide 38: CRE Loan Portfolio
CRE Loan Portfolio PNFP CRE & Construction Accruing PD, Classified, and Non-Accruals Highlights 0.23% • Continued strong credit quality with minimal past due 0.22% 0.22% 0.20% 0.19% 0.18% accruing loans and 98.6% of portfolio graded pass 0.16% 0.16% 0.15% 0.19% 0.13% 0.13% 0.18% 0.13% • Softness in
Slide 39: CRE Loan Portfolio
CRE Loan Portfolio Highlights • Over 91% of NOOCRE Portfolio is in Pinnacle’s 4Q25 NOOCRE & Construction Balances/Total Loans attractive Southeastern demographic markets 10% • Reduced construction and land development loans as a percentage of total risk-based 9% capital to 58% in 4Q25 9% • Remain ca
Slide 40: Multifamily Loan Portfolio
Multifamily Highlights Multifamily Loan Portfolio(DRAFT) Highlights • 95% is located within the PNFP footprint 4Q25 Multifamily Balances by Property Location (1) • 47% are MF Construction loans (by commitment): 14% o Average number of units - 300 ($20MM+ Construction) 12% 12% o Typically, 4 & 5-star
Slide 41: Warehouse Loan Portfolio
MultifamilyLoan Warehouse Highlights Portfolio(DRAFT) Highlights 4Q25 Warehouse Balances by Property Location • Industrial production primarily focuses on construction opportunities with top-tier 12% development platforms • Conservative loan basis exhibiting an average LTV of 51% and an average LTC
Slide 42: Professional Office Loan Portfolio
Multifamily Highlights Professional Office (DRAFT)Highlights Loan Portfolio • 95% of Professional Office CRE properties are in the legacy PNFP footprint. 4Q25 Professional Office Balances by Property Location • The concentration in Nashville is primarily due to the participation in the Nashville Yar
Slide 43: Professional Office Portfolio by Type
Multifamily Highlights Professional Office (DRAFT)Highlights Loan Portfolio 4Q25 Multi-Tenant Office LTVs 4Q25 Professional Office Portfolio by Type 90.0% 80.0% 70.0% 60.0% 5% 50.0% Avg Bal: 10% 40.0% $5.5MM 30.0% Avg Bal: Avg Bal: 20.0% $4.0MM Avg Bal: $2.3MM 10.0% $2.1MM —% LTV < 60% LTV 60% to 70
Slide 44: Net Charge-Offs by Loan Type
Net Charge-Offs by Loan Type Annualized Net Loan Charge Offs by Loan Type 1.60% 1.40% 1.20% 1.00% 0.80% 0.60% 0.40% 0.23% 0.21% 0.20% 0.15% 0.10% —% (0.20)% CRE Construction C&I Consumer RE Consumer and Total other Net Charge Off Rates 2022 2023 2024 2025 44
Slide 45: BHG Financial Overview
BHG Financial Overview 2025 Earnings of $240MM ($51MM in 4Q25) Supported by Significant Origination Growth and Solid Credit Performance • BHG facilitates loans in as little as 3 days from application Origination Volume ($ in Billions) to funding $8.0 $6.1 $6.0 • A truly diversified funding strategy
Slide 46: BHG Credit Quality Continues to Impress
BHG Credit Quality BHG Produces Wide Spreads Continues to Impress on Bank Auction and Balance Sheet Deals Sophisticated credit Spreads Above 10% for Off scoring Balance Sheet models Bank Network produce Sales and impressive On Balance Sheet Loans results Off Balance Sheet - Borrower Coupon and Bank
Slide 47: BHG Has Diverse, Growing Funding Channels
BHGHas BHG Credit Quality Diverse, Continues Growing to Impress Funding Channels Sophisticated credit scoring models produce impressive results Proactive Management of Placement Channels Continues to Provide Flexibility to BHG’s Platform Loan Sales • Multiple institutional investors acquire loans vi
Slide 48: BHG Financials
BHG Financials $ in thousands At Dec 31, 2025 At Sep 30, 2025 At Jun 30, 2025 $ in thousands 4Q 2025 3Q 2025 2Q 2025 Cash and Cash Equivalents 742,324 714,889 592,500 Interest Income $151,378 $145,836 $136,144 Loans and Held for Investments 3,288,213 3,000,875 2,664,514 Interest Expense 44,348 43,02
Slide 49: Non-GAAP Financial Measures
Non-GAAP Financial Measures ($ in thousands) 4Q25 3Q25 4Q24 2025 2024 Net income available to common shareholders $165,983 $169,338 $147,461 $626,673 $459,864 Subtract/add: Investment securities (gains) losses, net 4,099 — (249) 16,611 71,854 ORE expense 346 146 58 687 220 FDIC special assessment (7
Slide 50: Non-GAAP Financial Measures, Continued
Non-GAAP Financial Measures, Continued ($ in thousands) 4Q25 3Q25 4Q24 2025 2024 Net interest income $407,435 $396,865 $363,790 $1,548,261 $1,365,590 Total non-interest revenue 134,769 147,938 111,545 506,590 371,178 Total non-interest expense 302,656 303,139 261,897 1,167,728 1,034,970 Pre-provisio
Slide 51: Non-GAAP Financial Measures, Continued
Non-GAAP Financial Measures, Continued ($ in thousands) 4Q25 3Q25 2Q25 1Q25 4Q24 Net income $165,983 $169,338 $154,742 $136,610 $147,461 Investment securities (gains) losses, net 4,099 — — 12,512 (249) ORE expense 346 146 137 58 58 FDIC special assessment (7,500) — — — — Merger-related expense (1) 1
Slide 52: Non-GAAP Financial Measures, Continued
Non-GAAP Financial Measures, Continued ($ in thousands) 2025 2024 Net income $626,673 $459,864 Subtract/add: Investment securities (gains) losses, net 16,611 71,854 ORE expense 687 220 FDIC special assessment (7,500) 7,250 Recognition of mortgage servicing asset — (11,812) Fees related to terminatin
Slide 53: Non-GAAP Financial Measures, Continued
Non-GAAP Financial Measures, Continued ($ in thousands) 4Q25 3Q25 2Q25 1Q25 4Q24 Net income available to common shareholders $165,983 $169,338 $154,742 $136,610 $147,461 Investment securities (gains) losses, net 4,099 — — 12,512 (249) ORE expense 346 146 137 58 58 FDIC special assessment (7,500) — —
Slide 54: Non-GAAP Financial Measures, Continued
Non-GAAP Financial Measures, Continued ($ in thousands) 2025 2024 Net income available to common shareholders $626,673 $459,864 Investment securities (gains) losses, net 16,611 71,854 ORE expense 687 220 FDIC special assessment (7,500) 7,250 Recognition of mortgage servicing asset — (11,812) Fees re
Slide 55: Non-GAAP Financial Measures, Continued
Non-GAAP Financial Measures, Continued ($ in thousands) 4Q25 3Q25 2Q25 1Q25 4Q24 2025 2024 Total non-interest revenue $134,769 $147,938 $125,457 $98,426 $111,545 $506,590 $371,178 Investment securities (gains) losses, net 4,099 — — 12,512 (249) 16,611 71,854 Mortgage servicing asset — — — — — — (11,
Slide 56: Non-GAAP Financial Measures, Continued
Non-GAAP Financial Measures, Continued ($ in thousands) 4Q25 3Q25 2Q25 1Q25 4Q24 Total non-interest expense $302,656 $303,139 $286,446 $275,487 $261,897 ORE expense 346 146 137 58 58 FDIC special assessment (7,500) — — — — Merger-related expense 13,939 7,727 — — — Adjusted non-interest expense $295,
Slide 57: Non-GAAP Financial Measures, Continued
Non-GAAP Financial Measures, Continued ($ in thousands) 2025 2024 Total non-interest revenue $506,590 $371,178 Investment securities (gains) losses, net 16,611 71,854 Recognition of mortgage servicing asset — (11,812) Adjusted non-interest revenue $523,201 $431,220 Total non-interest expense $1,167,
Slide 58: Non-GAAP Financial Measures, Continued
Non-GAAP Financial Measures, Continued ($ in thousands) 4Q25 3Q25 2Q25 1Q25 4Q24 Total assets $57,706,053 $55,963,549 $54,801,451 $54,254,804 $52,589,449 Goodwill 1,848,904 1,848,904 1,848,904 1,849,260 1,849,260 Other intangible assets, net 29,715 18,108 19,506 20,007 21,423 Tangible assets $55,827
Slide 59: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures 59
Slide 60: Synovus Standalone Fourth Quarter 2025 Supplemental Information
Synovus Standalone Fourth Quarter 2025 Supplemental Information
Slide 61: Synovus' Fourth Quarter 2025 Highlights
Synovus' Fourth Quarter 2025 Highlights Non-Interest Revenue Net Interest Income Credit Quality & Capital Non-Interest Expense • Strong 4Q25 loan growth • QoQ broad-based growth • NCOs were in line with was primarily attributable in wealth, core banking expectations to corporate and and capital mark
Slide 62: Credit Quality
Credit Quality Allowance for Credit Losses ($ in millions) Highlights $539 $529 $520 $529 $514 • ~25% of 4Q25 NCOs were from a $7.4 million aged HELOC portfolio, which includes a sale and charge-off 1.27% 1.24% 1.18% 1.19% 1.19% • Linked quarter NPL increase primarily due to one C&I credit totaling
Slide 63: Risk Distribution ($ in millions)
Risk Distribution ($ in millions) Criticized & Classified Loans Portfolio Risk Distribution Composition Change $1,693 $1,683 $1,634 4Q25 vs. $1,590 $1,610 $1,566 Risk Category 4Q25 3Q25 $1,527 3Q25 $1,484 $1,481 $1,333 $1,341 Passing Grades $43,284 $42,272 $1,013 $1,086 Special Mention 521 650 (129)
Slide 64: Allowance for Credit Losses
Allowance for Credit Losses $13 $529 $(1) $520 $5 $7 $(15) (1) 3Q25 Economic Other Performance Net Other 4Q25 Conditions Qualitatives Growth ACL/Loans: 1.19% 1.19% ($ in millions) Economic Scenario Assumptions and Weightings 4Q25 Change from 2026(5) 2027(5) Scenario Model Weighting Previous Quarter
Slide 65: Loan Portfolio by Category
Loan Portfolio by Category Highly Diverse Loan Mix C&I • Industry Focused C&I(1) is well-diversified among multiple lines of Market Based C&I 25% Portfolio business $24.3 billion • C&I industry mix aligned with economic and demographic drivers Industry-Focused C&I 24% • SNCs total $5.8 billion, ~$59
Slide 66: C&I Loan Portfolio
C&I Loan Portfolio • Approximately 95% of the C&I Portfolio is Collateralized Diverse Industry Exposure 4Q25 Total C&I Portfolio $24.3 billion 5% 15% Owner-Occupied CRE Finance/Insurance 23.9% Inventory/Receivables 37% Senior Housing (1) 12.9% Insurance Premium Finance Lender Finance 13% Accom. & Fo
Slide 67: Commercial Real Estate Loan Portfolio
Commercial Real Estate Loan Portfolio Composition of 4Q25 CRE Portfolio Total Portfolio $12.1 billion Investment Properties portfolio represent 93% of total CRE portfolio Multi-Family 31.6% ◦ The portfolio is well diversified among property types Hotels 16.0% CRE Credit Quality Office Building 13.5%
Slide 68: Consumer Loan Portfolio
Consumer Loan Portfolio Total Consumer Portfolio $8.2 billion Consumer Mortgage 63.3% • 86% of Consumer portfolio is backed by Home Equity 22.4% residential real estate • Other Consumer includes secured and Third-Party HFI 7.5% unsecured products Other Consumer 4.6% • Average consumer card utilizati
Slide 69: Total Average Deposit Costs
Total Average Deposit Costs ($ in millions; rates annualized) December 2025 4Q25 3Q25 Avg. Rate Avg. Balance Avg. Rate Avg. Balance Avg. Rate Non-interest-bearing N/A $11,420 N/A $11,341 N/A Interest-bearing non-maturity (NMD) 2.13% $27,113 2.20% $26,609 2.43% Time 3.37% $7,566 3.37% $7,148 3.39% Br
Slide 70: Quarterly Highlights Trend
Quarterly Highlights Trend 4Q25 3Q25 2Q25 1Q25 4Q24 Diluted EPS $1.22 $1.33 $1.48 $1.30 $1.25 Net interest margin(1) 3.45% 3.41% 3.37% 3.35% 3.28% Efficiency ratio-TE 55.38 56.51 53.03 53.81 53.15 Adjusted tangible efficiency ratio(2) 51.29 51.83 52.31 53.26 52.69 Financial ROAA(1) 1.18 1.30 1.46 1.
Slide 71: Non-GAAP Financial Measures
Non-GAAP Financial Measures ($ in thousands) 4Q25 3Q25 4Q24 2025 2024 Net income available to common shareholders $171,054 $185,590 $178,848 $746,655 $439,557 Restructuring charges (reversals) (338) (747) 37 (2,305) 2,121 Valuation adjustment on GLOBALT earnout (719) — (719) (719) (719) Valuation ad
Slide 72: Non-GAAP Financial Measures, Continued
Non-GAAP Financial Measures, Continued ($ in thousands) 4Q25 3Q25 4Q24 2025 2024 Net interest income $484,577 $474,695 $454,993 $1,873,217 $1,749,577 Total non-interest revenue 145,094 140,697 125,587 536,392 239,604 Total non-interest expense (349,594) (348,729) (309,311) (1,322,058) (1,247,543) Pr
Slide 73: Non-GAAP Financial Measures, Continued
Non-GAAP Financial Measures, Continued ($ in thousands) 4Q25 3Q25 2Q25 1Q25 4Q24 Net income $181,696 $196,505 $217,119 $194,872 $189,377 Restructuring charges (reversals) (338) (747) 72 (1,292) 37 Valuation adjustment on GLOBALT earnout (719) — — — (719) Valuation adjustment to Visa derivative 2,940
Slide 74: Non-GAAP Financial Measures, Continued
Non-GAAP Financial Measures, Continued ($ in thousands) 2025 2024 Net income $790,192 $479,451 Restructuring charges (reversals) (2,305) 2,121 Valuation adjustment to Visa derivative 8,051 8,700 Valuation adjustment on GLOBALT earnout (719) (719) Loss (gain) on early extinguishment of debt 1,344 — I
Slide 75: Non-GAAP Financial Measures, Continued
Non-GAAP Financial Measures, Continued ($ in thousands) 4Q25 3Q25 2Q25 1Q25 4Q24 Net income available to common shareholders $171,054 $185,590 $206,320 $183,691 $178,848 Restructuring charges (reversals) (338) (747) 72 (1,292) 37 Valuation adjustment on GLOBALT earnout (719) — — — (719) Loss (gain)
Slide 76: Non-GAAP Financial Measures, Continued
Non-GAAP Financial Measures, Continued ($ in thousands) 2025 2024 Net income available to common shareholders $746,655 $439,557 Restructuring charges (reversals) (2,305) 2,121 Valuation adjustment to Visa derivative 8,051 8,700 Valuation adjustment on GLOBALT earnout (719) (719) Loss (gain) on early
Slide 77: Non-GAAP Financial Measures, Continued
Non-GAAP Financial Measures, Continued ($ in thousands) 4Q25 3Q25 2Q25 1Q25 4Q24 Total non-interest revenue $145,094 $140,697 $134,135 $116,466 $125,587 Valuation adjustment on GLOBALT earnout (719) — — — (719) Investment securities (gains) losses, net 1,038 (1,742) — — — Fair value adjustment on no
Slide 78: Non-GAAP Financial Measures, Continued
Non-GAAP Financial Measures, Continued ($ in thousands) 2025 2024 Total non-interest revenue $536,392 $239,604 Valuation adjustment on GLOBALT earnout (719) (719) Investment securities losses (gains), net (704) 256,660 Fair value adjustment on non-qualified deferred compensation (6,214) (5,159) Adju
Slide 79: Non-GAAP Financial Measures, Continued
Non-GAAP Financial Measures, Continued ($ in thousands) 4Q25 3Q25 2Q25 1Q25 4Q24 Total assets $61,358,837 $60,485,175 $61,056,785 $60,339,121 $60,233,644 Goodwill (480,440) (480,440) (480,440) (480,440) (480,440) Other intangible assets, net (23,809) (26,436) (29,063) (31,691) (34,318) Tangible asse
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