First Citizens BancShares : Second Quarter 2026 Earnings Presentation Q2 2026

About this update from First Citizens Bancshares, Inc.

First Citizens BancShares, Inc. Second Quarter 2026 Earnings Conference Call July 23, 2026 Table of Contents Pages Section I - Second Quarter Overview & Strategic Priorities 4 - 6 Section II - Second Quarter 2026 Financial Results 7 - 26 Financial Highlights 8 - 9 Earnings Highlights 10 Net interest income, margin and betas 11 - 13 Noninterest income and expense 14 - 15 Balance Sheet Highlights 16 Loans and Leases 17 - 18 Deposits 19 - 20 SVB Commercial Funding Trends 21 Funding Mix 22 Credit Quality Trends and Allowance 23 - 24 Capital & Share Repurchase Plan Update 25 - 26 Section III - Financial Outlook 27 - 28 Section IV - Appendix 29 - 41 Section V - Non-GAAP Reconciliations 42 - 50 Important Notices Forward Looking Statements This communication contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 regarding the financial condition, results of operations, business plans, asset quality, future performance, and other strategic goals of BancShares. Words such as "anticipates," "believes," "estimates," "expects," "predicts," "forecasts," "intends," "plans," "projects," "targets," "designed," "could," "may," "should," "will," "potential," "continue," "aims" or other similar words and expressions are intended to identify these forward-looking statements. These forward-looking statements are based on BancShares' current expectations and assumptions regarding BancShares' business, the economy, and other future conditions. Because forward-looking statements relate to future results and occurrences, they are subject to inherent risks, uncertainties, changes in circumstances and other factors that are difficult to predict. Many possible events or factors could affect BancShares' future financial results and performance and could cause actual results, performance or achievements of BancShares to differ materially from any anticipated results expressed or implied by such forward-looking statements. Such risks and uncertainties include, among others, general competitive, economic (including the imposition of tariffs, retaliatory tariff measures, trade barriers on trading partners, and supply chain disruptions), political (including impacts of any U.S. government shutdown), geopolitical events (including conflicts or developments in Ukraine, the Middle East and Latin America), natural disasters and market conditions, including changes in competitive pressures among financial institutions and the impacts related to or resulting from previous bank failures, the risks and impacts of future bank failures and other volatility in the banking industry, public perceptions of our business practices, including our deposit pricing and acquisition activity, the financial success or changing conditions or strategies of BancShares' vendors or customers, including changes in demand for deposits, loans and other financial services, fluctuations in interest rates, changes in the quality or composition of BancShares' loan or investment portfolio, actions of government regulators, including interest rate decisions by the Board of Governors of the Federal Reserve Board (the "Federal Reserve"), changes to estimates of future costs and benefits of actions taken by BancShares, BancShares' ability to maintain adequate sources of funding and liquidity, the potential impact of decisions by the Federal Reserve on BancShares' capital plans, adverse developments with respect to U.S. or global economic conditions, including significant turbulence in the capital or financial markets, the impact of any sustained or elevated inflationary environment, the impact of any cyberattack, information or security breach, the effect of technological change, including artificial intelligence and digital assets, the impact of implementation and compliance with current or proposed laws, regulations and regulatory interpretations, including potential increased regulatory requirements, limitations, and costs, such as FDIC special assessments, increases to FDIC deposit insurance premiums, changes in regulatory capital requirements, or limitations on credit card interest rates, along with the risk that such laws, regulations and regulatory interpretations may change, the availability of capital and personnel, changes or enhancements BancShares implements with respect to risk management, technology, personnel, financial service offerings, or other areas, and the risks associated with BancShares' previously completed acquisition transactions, the pending acquisition of branches from BMO Bank N.A., or any future transactions. BancShares' 2025 Share Repurchase Plan announced in July 2025 ("2025 SRP") allows BancShares to repurchase shares of its Class A common stock through 2026. BancShares is not obligated under the 2025 SRP to repurchase any minimum or particular number of shares, and repurchases may be suspended or discontinued at any time (subject to the terms of any Rule 10b5-1 plan in effect) without prior notice. The authorization to repurchase Class A common stock will be utilized at management's discretion. The actual timing and amount of Class A common stock that may be repurchased under the 2025 SRP will depend on a number of factors, including the terms of any Rule 10b5-1 plan then in effect, price, general business and market conditions, regulatory requirements, and alternative investment opportunities or capital needs. Except to the extent required by applicable laws or regulations, BancShares disclaims any obligation to update forward-looking statements or to publicly announce the results of any revisions to any of the forward-looking statements included herein to reflect future events or developments. Additional factors which could affect the forward-looking statements can be found in BancShares' Annual Report on Form 10-K for the fiscal year ended December 31, 2025 and its other filings with the SEC. Non-GAAP Measures Certain measures in this presentation, including those referenced as "adjusted" or "excluding PAA," are "non-GAAP," meaning they are numerical measures of BancShares' financial performance, financial position or cash flows that are not presented in accordance with generally accepted accounting principles in the U.S. ("GAAP") because they exclude or include amounts or are adjusted in some way so as to be different than the most direct comparable measures calculated and presented in accordance with GAAP in BancShares' statements of income, balance sheets or statements of cash flows and also are not codified in U.S. banking regulations currently applicable to BancShares. BancShares management believes that non-GAAP financial measures, when reviewed in conjunction with GAAP financial information, can provide transparency about or an alternative means of assessing its operating results, financial position or cash flows to its investors, analysts and management. These non-GAAP measures should be considered in addition to, and not superior to or a substitute for, GAAP measures. Each non-GAAP measure is reconciled to the most comparable GAAP measure in the non-GAAP reconciliation in Section V of this presentation. Certain financial results referenced as "Adjusted" in this presentation exclude notable items. The Adjusted financial measures are non-GAAP. Refer to Section V of this presentation for a reconciliation of Non-GAAP financial measures to the most directly comparable GAAP measure. Reclassifications See Section IV entitled Appendix for information on reclassifications. Second Quarter Overview & Strategic Priorities Section I Second Quarter 2026 Snapshot Financial Results: Adjusted EPS (1) $57.09 Adjusted ROE / ROA (1) 12.94% / 1.18% NIM 3.10% Adjusted Efficiency Ratio (1) 60.05% Loan Growth (EOP / Avg) (2) 1.6% / 0.7% Deposit Growth (EOP / Avg) (2) 1.5% / 2.8% CET1 Ratio (4) 10.77% Key Highlights: Strong financial results: EPS, ROE and ROA results improved over the prior quarter and exceeded expectations. Sequential expansion in EPS and return metrics driven by higher PPNR (1) and a credit-related reserve release . Net revenue expansion outpaced expense growth, improving operating efficiency. Strategic balance sheet management: Balance sheet momentum continued with solid growth in both period end and average loan and deposit balances. Accomplished off-balance sheet client funds growth on both a period end and average basis. Continued progress on the FDIC Purchase Money Note, prepaying another $2.5 billion during the quarter. Issued $750 million of senior bank notes in June. Prudent capital management: Repurchased $600 million in Class A common shares in the second quarter. Since plan inception in July 2024, we have repurchased $6.3 billion or 23.7% of Class A common shares. (3) Non-GAAP measure: see Section V entitled Non-GAAP Reconciliations. Loan and deposit growth percentages are current quarter compared to the linked quarter. Total repurchases include those since inception of the plan in July 2024 through July 21, 2026. Refer to Share Repurchase Plan Update page for additional details. The CET1 ratio represents a BancShares ratio and is preliminary pending completion of quarterly regulatory filings. Strategic Priorities Client Focus Expand and grow our capabilities and products while harnessing the scale of the enterprise and maintaining a client-first focus. Talent & Culture Attract, retain and develop associates who align with our long-term direction and culture while scaling for continued growth. Operational Efficiency Optimize processes and systems to reduce organizational complexity and maximize productivity. Balance Sheet Optimization Manage our balance sheet prudently to optimize our funding and liquidity profile while driving core deposit growth and enhancing returns. Risk Management Second Quarter 2026 Financial Results Section II 2Q26 Financial Results - Takeaways 1 EPS, ROE and ROA improved over first quarter results and exceeded our expectations. 5 Deposits increased $2.6 billion or by 1.5% over the linked quarter driven primarily by growth in the Direct Bank , supplemented by brokered deposits. 2 NII and NIM remained resilient , successfully offsetting higher interest-bearing deposit balances and rates. 6 Credit quality remained resilient, as the NCO ratio improved by 1 basis point sequentially, outperforming our guidance range. 3 Expense growth was muted , driving results to the low end of our guidance range. 7 Prepaid an additional $2.5 billion of the FDIC Purchase Money Note. 4 Loans grew $2.3 billion or by 1.6% over the linked quarter, led by Global Fund Banking. 8 Returned $600 million in capital to shareholders through the repurchase of Class A common stock. Financial Highlights 2Q26 1Q26 2Q25 Reported Adjusted (Non-GAAP) Reported Adjusted (Non-GAAP) Reported Adjusted (Non-GAAP) EPS (basic and diluted) $ 55.52 $ 57.09 $ 42.63 $ 44.86 $ 42.36 $ 44.78 ROE 12.58 % 12.94 % 9.88 % 10.39 % 10.41 % 11.00 % ROTCE (non-GAAP) 12.92 13.28 10.14 10.67 10.69 11.30 ROA 1.15 1.18 0.93 0.97 1.01 1.07 PPNR ROA (non-GAAP) 1.50 1.53 1.35 1.41 1.54 1.64 NIM 3.10 3.10 3.09 3.09 3.26 3.26 NIM, ex PAA (non-GAAP) 3.01 3.01 3.01 3.01 3.14 3.14 NCO ratio 0.29 0.29 0.30 0.30 0.33 0.33 Efficiency ratio 63.75 60.05 66.41 62.13 63.22 57.92 Note - Adjusted columns, ROTCE, PPNR ROA and NIM, ex PAA represent non-GAAP measures: see Section V entitled Non-GAAP Reconciliations. Quarterly Earnings Highlights ($ in millions) Increase (decrease) Reported 2Q26 vs 1Q26 (1) 2Q26 vs 2Q25 (1) 2Q26 1Q26 2Q25 $ % $ % Net interest income $ 1,656 $ 1,621 $ 1,695 $ 35 2.2 % $ (39) (2.3)% Noninterest income 776 692 678 84 12.1 98 14.5 Net revenue 2,432 2,313 2,373 119 5.1 59 2.5 Noninterest expense 1,551 1,536 1,500 15 0.9 51 3.3 Pre-provision net revenue (2) 881 777 873 104 13.4 8 1.0 (Benefit) provision for credit losses (10) 72 115 (82) (113.9) (125) (108.7) Income before income taxes 891 705 758 186 26.4 133 17.6 Income tax expense 219 171 183 48 27.6 36 19.6 Net income 672 534 575 138 26.1 97 17.0 Preferred stock dividends 32 26 14 6 27.2 18 123.2 Net income available to common stockholders $ 640 $ 508 $ 561 $ 132 26.0 % $ 79 14.2 % Adjustments for notable items 2Q26 1Q26 2Q25 Noninterest income $ (190) $ (172) $ (165) Noninterest expense (205) (206) (221) Income tax expense (4) 8 24 Increase (decrease) Adjusted (Non-GAAP) (2) 2Q26 vs 1Q26 (1) 2Q26 vs 2Q25 (1) 2Q26 1Q26 2Q25 $ % $ % Net interest income $ 1,656 $ 1,621 $ 1,695 $ 35 2.2 % $ (39) (2.3)% Noninterest income 586 520 513 66 13.0 73 14.4 Net revenue 2,242 2,141 2,208 101 4.7 34 1.5 Noninterest expense 1,346 1,330 1,279 16 1.3 67 5.3 Pre-provision net revenue (2) 896 811 929 85 10.5 (33) (3.6) (Benefit) provision for credit losses (10) 72 115 (82) (113.9) (125) (108.7) Income before income taxes 906 739 814 167 22.6 92 11.2 Income tax expense 215 179 207 36 20.6 8 3.8 Net income 691 560 607 131 23.3 84 13.8 Preferred stock dividends 32 26 14 6 27.2 18 123.2 Net income available to common stockholders $ 659 $ 534 $ 593 $ 125 23.1 % $ 66 11.1 % Percent change is calculated using unrounded numbers and therefore may not recalculate precisely using the displayed rounded amounts. Non-GAAP measure: see Section V entitled Non-GAAP Reconciliations. Net interest income and margin ($ in millions) 3.26% 3.26% 3.20% 3.09% 3.10% $35 million & 1 bp $26 million & 0 bps $1,695 $1,734 $1,722 $1,621 $1,656 $1,629 $1,673 $1,673 $1,582 $1,608 3.14% 3.15% 3.11% 3.01% 3.01% 2Q25 3Q25 4Q25 1Q26 2Q26 2Q25 3Q25 4Q25 1Q26 2Q26 NII NIM NII, ex PAA (Non-GAAP) (1) NIM, ex PAA (Non-GAAP) (1) 2Q26 1Q26 2Q25 1Q26 Change vs 2Q25 Avg Balance Income / Expense Yield / Rate Avg Balance Income / Expense Yield / Rate Avg Balance Income / Expense Yield / Rate Avg Balance Income / Expense Yield / Rate Avg Balance Income / Expense Yield / Rate Loans and leases (2) (3) $149,275 $ 2,253 6.05 % $148,666 $ 2,206 6.01 % $140,699 $ 2,270 6.47 % $ 609 $ 47 0.04 % $ 8,576 $ (17) (0.42)% Investment securities and reverse repos 43,214 401 3.72 42,062 384 3.67 44,172 419 3.79 1,152 17 0.05 (958) (18) (0.07) Interest-earning deposits at banks 21,501 197 3.67 21,824 196 3.64 23,304 256 4.40 (323) 1 0.03 (1,803) (59) (0.73) Total interest-earning assets (3) $213,990 $ 2,851 5.34 % $212,552 $ 2,786 5.30 % $208,175 $ 2,945 5.67 % $ 1,438 $ 65 0.04 % $ 5,815 $ (94) (0.33)% Interest-bearing deposits $129,385 $ 881 2.73 % $125,203 $ 833 2.70 % $118,582 $ 894 3.02 % $ 4,182 $ 48 0.03 % $ 10,803 $ (13) (0.29)% Total borrowings 33,229 314 3.78 35,334 332 3.76 38,379 356 3.71 (2,105) (18) 0.02 (5,150) (42) 0.07 Total interest-bearing liabilities $162,614 $ 1,195 2.95 % $160,537 $ 1,165 2.93 % $156,961 $ 1,250 3.19 % $ 2,077 $ 30 0.02 % $ 5,653 $ (55) (0.24)% Net interest income $ 1,656 $ 1,621 $ 1,695 $ 35 $ (39) Net interest spread (3) 2.39 % 2.37 % 2.48 % 0.02 % (0.09)% Net interest margin (3) 3.10 % 3.09 % 3.26 % 0.01 % (0.16)% Note - Certain items above do not precisely recalculate as presented due to rounding. Non-GAAP measure: see Section V entitled Non-GAAP Reconciliations. Loans and leases include nonaccrual loans and loans held for sale. Interest income on loans and leases includes loan PAA income and loan fees. The average balances and yields for loans and leases are calculated net of average credit balances of factoring clients to appropriately reflect the interest-earning portion of factoring receivables. NIM Rollforward 1Q26 to 2Q26 (1 bp) 3.09% 0.04% 0.01% 0.01% 0.01% 3.10% (0.04)% (0.02)% 1Q26 Debt volume Investment Loan PAA Deposit volume Deposit rate 2Q26 yield / volume yield / volume 0.17% 3.26% (0.25)% (0.12)% 3.10% (0.11)% (0.05)% (0.04)% 0.14% 0.10% 2Q25 to 2Q26 (-16 bps) 2Q25 Deposit rate Loan volume Debt volume Loan yield FFS yield / volume Deposit volume Investment yield / volume PAA 2Q26 Deposit Betas Tightening Cycle Easing Cycle 63% 64% 58% 61% 53% 56% 56% 52% 46% 47% 49% 50% 49% 42% 45% 46% 37% 39% 39% 38% 31% 23% 35% 30% 34% 34% 26% 20% 16% 12% Terminal beta 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 - 3Q24 - 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 Jul/Aug Sep Total Deposits Actual cumulative beta Actual cumulative beta IBD Highlights 58% 57% 58% 58% 59% 42% 43% 42% 42% 41% Our total cumulative deposit beta in the tightening cycle peaked in August 2024 prior to the September rate cuts. Deposit betas are currently modeled to have a portfolio average of approximately 35%-40% over the twelve-month forecast horizon, including 45%-50% for interest-bearing non-maturity deposits. Mid/higher beta categories: > 30% beta on Direct Bank and SVB Commercial money market, savings and time deposit accounts. 20% to 30% beta on Branch Network commercial money market accounts and Community Association Banking checking with interest and money market accounts. Lower beta categories: 0% to 20% beta on total noninterest bearing deposits and Branch Network consumer money market accounts, checking with interest and savings accounts. 2Q25 3Q25 4Q25 1Q26 2Q26 Mid/higher beta categories Lower beta categories Noninterest income ($ in millions) $776 $678 $699 $715 $692 $190 $165 $181 $186 $172 $513 $518 $529 $520 $586 2Q25 3Q25 4Q25 Adjusted (Non-GAAP) (1) 1Q26 Notable items (2) 2Q26 Increase (decrease) Noninterest income 2Q26 vs 1Q26 2Q26 vs 2Q25 2Q26 1Q26 4Q25 3Q25 2Q25 $ % $ % Total reported noninterest income $ 776 $ 692 $ 715 $ 699 $ 678 $ 84 12.1 % $ 98 14.5 % Notable items (2) 190 172 186 181 165 18 10.5 25 15.2 Total adjusted noninterest income (1) $ 586 $ 520 $ 529 $ 518 $ 513 $ 66 13.0 % $ 73 14.4 % Adjusted rental income on operating lease equipment (1) $ 112 $ 115 $ 115 $ 108 $ 117 $ (3) (2.3)% $ (5) (4.4)% Lending-related fees 73 69 64 67 69 4 4.4 4 4.5 Deposit fees and service charges 74 70 63 61 59 4 5.1 15 24.2 Client investment fees 59 53 54 58 52 6 13.8 7 16.7 Wealth management services 62 59 61 57 55 3 4.5 7 12.3 International fees 36 35 37 34 33 1 (0.4) 3 8.3 Factoring commissions 18 17 20 18 18 1 8.1 - - Cardholder services, net 38 38 37 39 41 - - (3) (6.6) Merchant services, net 13 13 13 12 13 - - - - Insurance commissions 13 13 12 13 14 - - (1) (9.0) Other noninterest income 88 38 53 51 42 50 138.1 46 109.7 Note - Percent changes above are based on unrounded amounts and may not recalculate precisely using the displayed rounded amounts. Non-GAAP measure: see Section V entitled Non-GAAP Reconciliations. Refer to Section V for notable item details. Noninterest expense ($ in millions) $1,500 $1,491 $1,572 $1,536 $1,551 $1,279 $1,279 $1,346 $1,330 $1,368 $212 $221 $205 $206 $204 2Q25 3Q25 4Q25 Adjusted (Non-GAAP) (1) 1Q26 Notable items (2) 2Q26 Increase (decrease) Noninterest expense 2Q26 vs 1Q26 2Q26 vs 2Q25 2Q26 1Q26 4Q25 3Q25 2Q25 $ % $ % Total reported noninterest expense $ 1,551 $ 1,536 $ 1,572 $ 1,491 $ 1,500 $ 15 0.9 % $ 51 3.3 % Notable items 205 206 204 212 221 (1) (0.5) (16) (7.2) Total adjusted noninterest expense (1) $ 1,346 $ 1,330 $ 1,368 $ 1,279 $ 1,279 $ 16 1.3 % $ 67 5.3 % Personnel cost $ 836 $ 857 $ 849 $ 811 $ 810 $ (21) (2.5)% $ 26 3.2 % Net occupancy expense 59 60 61 58 61 (1) (0.9) (2) (3.3) Equipment expense 141 136 151 137 131 5 3.3 10 7.1 Professional fees 21 18 34 26 30 3 18.0 (9) (28.5) Third-party processing fees 100 93 75 67 63 7 6.4 37 56.2 FDIC insurance expense 39 38 39 38 38 1 - 1 0.9 Marketing expense 45 30 45 33 32 15 48.9 13 39.7 Other noninterest expense 105 $ 98 $ 114 $ 109 $ 114 7 10.9 (9) (4.9) Note - Percent changes above are based on unrounded amounts and may not recalculate precisely using the displayed rounded amounts. Non-GAAP measure: see Section V entitled Non-GAAP Reconciliations. Refer to Section V for notable item details. Balance Sheet Highlights ($ in millions, except per share data) Increase (decrease) 2Q26 vs 1Q26 (1) 2Q26 vs 2Q25 (1) SELECT PERIOD END BALANCES 2Q26 1Q26 2Q25 $ % $ % Interest-earning deposits at banks $ 21,132 $ 23,189 $ 26,184 $ (2,057) (35.6)% $ (5,052) (19.4)% Investment securities 43,557 42,986 43,346 571 5.3 211 0.5 Loans and leases 151,034 148,692 141,269 2,342 6.3 9,765 6.9 Operating lease equipment, net (2) 9,755 9,685 9,466 70 2.9 289 3.1 Deposits 173,427 170,842 159,935 2,585 6.1 13,492 8.4 Noninterest-bearing deposits 42,475 43,606 40,879 (1,131) (10.4) 1,596 3.9 Off-balance sheet client funds 80,624 77,794 63,897 2,830 14.6 16,727 26.2 Borrowings 32,188 33,962 38,112 (1,774) (20.9) (5,924) (15.5) Tangible common equity (non-GAAP) (3) 19,618 19,755 20,848 (137) (2.8) (1,230) (5.9) Common equity 20,135 20,283 21,415 (148) (2.9) (1,280) (6.0) Stockholders' equity 21,900 22,048 22,296 (148) (2.7) (396) (1.8) Increase (decrease) KEY METRICS 2Q26 1Q26 2Q25 2Q26 vs 1Q26 2Q26 vs 2Q25 CET1 ratio 10.77 % 10.83 % 12.12 % (0.06)% (1.35)% Book value per common share $ 1,767.79 $ 1,735.18 $ 1,637.72 $ 32.61 $ 130.07 Tangible book value per common share (non-GAAP) (3) 1,722.35 1,689.96 1,594.38 32.39 127.97 Tangible common equity to tangible assets (non-GAAP) (3) 8.30 % 8.39 % 9.10 % (0.09)% (0.80)% Loan to deposit ratio 87.09 87.04 88.33 0.05 (1.24) ALLL to total loans and leases 0.98 1.05 1.18 (0.07) (0.20) Noninterest-bearing deposits to total deposits 24.49 25.52 25.56 (1.03) (1.07) Uninsured deposits 38 % 38 % 36 % - % 2 % Total liquid assets (available cash + HQLS) $ 59,138 $ 60,722 $ 63,616 $ (1,584) $ (4,478) Total liquidity (liquid assets & contingent sources) 89,660 91,015 92,129 (1,355) (2,469) Total liquidity / uninsured deposits 138 % 139 % 159 % (1)% (21)% Note - The above CET1 ratio represents BancShares ratio and is preliminary pending completion of quarterly regulatory filings. Percent change is calculated using unrounded numbers and therefore may not recalculate precisely using the displayed rounded amounts. The linked quarter change is annualized. Operating lease equipment, net includes $9.0 billion of rail assets as of 2Q26. Non-GAAP measure: see Section V entitled Non-GAAP Reconciliations. Loans and Leases ($ in millions) Period End Loans $79,533 $76,282 $84,325 $82,972 $86,679 $65,225 $64,987 $64,355 $64,367 $64,958 $141,269 $144,758 $147,930 $148,692 $151,034 Average Loans $141,791 $64,949 $142,857 $65,059 $146,944 $65,324 $149,121 $64,884 $150,094 $64,385 $85,709 $76,842 $77,798 $81,620 $84,237 6.47% 6.44% 6.24% 6.01% 6.05% 2Q25 3Q25 4Q25 1Q26 2Q26 Commercial Bank General Bank 2Q25 3Q25 4Q25 1Q26 2Q26 Commercial Bank General Bank Yield on loans $2.3 billion or 1.6% Period End Rollforward Average Rollforward $2,354 $151,034 $148,692 $(12) $973 million or 0.7% $(499) $149,121 $1,472 $150,094 1Q26 Commercial General Bank 2Q26 1Q26 Commercial General Bank 2Q26 Bank Bank Note - Commercial Bank includes a small amount of Rail loans (less than $100 million in all periods). Rail operating lease assets are not included in the loan totals. Loans and Leases Composition Period End Balances ($ in millions) Increase (decrease) 2Q26 vs 1Q26 (1) 2Q26 vs 2Q25 (1) 2Q26 1Q26 2Q25 $ % $ % Branch Network & Other (2) $ 43,847 $ 43,851 $ 43,800 $ (4) - % $ 47 0.1 % Wealth & Private Banking 11,163 11,110 10,909 53 1.9 254 2.3 Mortgage 9,345 9,406 10,278 (61) (2.6) (933) (9.1) General Bank Segment (2) 64,355 64,367 64,987 (12) (0.1) (632) (1.0) SVB Commercial 48,100 45,367 37,530 2,733 24.2 10,570 28.2 Commercial Finance & Middle Market Banking 32,810 33,144 32,755 (334) (4.0) 55 0.2 Equipment Finance 5,769 5,814 5,997 (45) (3.1) (228) (3.8) Commercial Bank Segment (3) 86,679 84,325 76,282 2,354 11.2 10,397 13.6 Total Loans $ 151,034 $ 148,692 $ 141,269 $ 2,342 6.3 % $ 9,765 6.9 % Class ($ in billions) Segment / Business ($ in billions) 2% 1% 12% 31% 15% 16% 23% Commercial and industrial ($46.6) Capital call lines ($34.2) Residential and revolving mortgage ($24.4) Commercial real estate ($23.2) Owner occupied commercial mortgage ($17.9) Investor dependent ($2.6) Auto and other consumer ($2.1) General Bank: 4% 22% 29% 7% 6% 32% Branch Network & Other ($43.8) Wealth & Private Banking ($11.2) Mortgage ($9.3) Commercial Bank: (3) SVB Commercial ($48.1) Commercial Finance & Middle Market Banking ($32.8) Equipment Finance ($5.8) Note - Totals may not foot due to rounding. Percent change is calculated using unrounded numbers and therefore may not recalculate precisely using the displayed rounded amounts. The linked quarter change is annualized. 1Q26 includes the impact of a transfer of loans to held for sale from the SBA portfolio within Branch Network & Other, reducing period end balances by approximately $364 million. Commercial Bank includes a small amount of Rail loans (less than $100 million in all periods). Rail operating lease assets are not included in the loan totals. Deposits ($ in millions) Period End Deposits Average Deposits $159,935 $163,190 $170,842 $173,427 $161,578 $42,475 $40,879 $42,752 $43,606 $40,653 $157,664 $160,624 $39,082 $40,049 $41,758 $40,724 $41,254 $163,191 $165,927 $170,639 $119,056 $120,438 $120,925 $127,236 $130,952 $118,582 $120,575 $121,433 $125,203 $129,385 2.27% 2.25% 2.09% 2.04% 2.07% 2Q25 3Q25 4Q25 1Q26 2Q26 Interest-bearing Noninterest-bearing 2Q25 3Q25 4Q25 1Q26 2Q26 Interest-bearing Noninterest-bearing Cost of deposits $4.7 billion or 2.8% $2.6 billion or 1.5% Period End Rollforward Average Rollforward $170,842 $3,716 $173,427 $(1,131) $4,182 $530 $170,639 $165,927 1Q26 Interest- Noninterest- 2Q26 1Q26 Interest- Noninterest- 2Q26 bearing bearing bearing bearing Deposit Composition Period End Balances ($ in millions) Increase (decrease) 2Q26 vs 1Q26 (1) 2Q26 vs 2Q25 (1) 2Q26 1Q26 2Q25 $ % $ % Branch Network & Other $ 63,479 $ 63,834 $ 61,943 $ (355) (2.2)% $ 1,536 2.5 % Community Association Banking 8,450 8,306 8,008 144 7.0 442 5.5 Wealth & Private Banking 3,789 3,774 3,548 15 1.6 241 6.8 General Bank Segment 75,718 75,914 73,499 (196) (1.0) 2,219 3.0 SVB Commercial 42,529 44,011 37,798 (1,482) (13.5) 4,731 12.5 Other 3,163 3,182 2,902 (19) (2.4) 261 9.0 Commercial Bank Segment (2) 45,692 47,193 40,700 (1,501) (12.8) 4,992 12.3 Direct Bank 48,222 45,408 45,111 2,814 24.9 3,111 6.9 Brokered Deposits & Other 3,795 2,327 625 1,468 NM 3,170 NM Corporate 52,017 47,735 45,736 4,282 36.0 6,281 13.7 Total Deposits $ 173,427 $ 170,842 $ 159,935 $ 2,585 6.1 % $ 13,492 8.4 % Type ($ in billions) Segment / Business ($ in billions) General Bank: 2% 28% 37% 2% 5% 24% 2% 9% 15% 52% 24% Branch Network & Other ($63.5) Money market & savings ($90.0) Noninterest-bearing demand ($42.5) Checking with interest ($25.8) Time deposits ($15.1) Community Association Banking ($8.5) Wealth & Private Banking ($3.8) Commercial Bank: (2) SVB Commercial ($42.5) Other ($3.2) Corporate: Direct Bank ($48.2) Brokered Deposits & Other ($3.8) Note - Totals may not foot due to rounding. Percent change is calculated using unrounded numbers and therefore may not recalculate precisely using the displayed rounded amounts. The linked quarter change is annualized. Commercial Bank includes a small amount of Rail deposits (less than $50 million in all periods). SVB Commercial Funding Trends $6.1 billion or 5 .3% ($ in billions) Total client funds (EOP) Total client funds (Avg) $101.7 $1.1 billion or 1.0% $106.9 $108.1 $121.8 $122.9 $97.3 $103.1 $107.7 $113.7 $119.8 $63.9 $69.7 $67.0 $80.4 $77.8 $37.8 $38.4 $39.9 $42.5 $44.0 $65.4 $61.8 $72.4 $68.5 $77.9 $35.5 $39.2 $37.7 $41.3 $41.9 2Q25 3Q25 4Q25 1Q26 2Q26 2Q25 3Q25 4Q25 1Q26 2Q26 Off-balance sheet client funds Deposits Off-balance sheet client funds Deposits US VC investment (1) 269 144 72 81 80 87 79 90 92 101 90 75 80 65 71 85 86 70 56 73 65 39 40 36 39 43 49 48 48 45 46 39 40 37 53 56 58 35 37 36 36 32 38 39 39 41 48 39 44 43 46 49 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 Deals Under $1B Total Deal Value ($B) US VC investment data is sourced using PitchBook Data, Inc. as of 6/30/2026 and subject to prior period revisions. Funding Mix ($ in millions) Period End Balances Increase (decrease) 2Q26 1Q26 4Q25 3Q25 2Q25 2Q26 vs 1Q26 2Q26 vs 2Q25 Total deposits $ 173,427 84.3 % $ 170,842 83.4 % $ 161,578 81.8 % $ 163,190 80.8 % $ 159,935 80.8 % $ 2,585 $ 13,492 Securities sold under customer repurchase agreements 152 0.1 170 0.1 224 0.1 423 0.2 471 0.2 (18) (319) Purchase money note 28,423 13.8 30,905 15.1 33,385 16.9 35,854 17.8 35,841 18.1 (2,482) (7,418) FHLB borrowings - - - - - - - - - - - - Subordinated debt 1,744 0.8 1,764 0.9 1,772 0.9 1,775 0.9 1,182 0.6 (20) 562 Senior unsecured borrowings 1,784 0.9 1,050 0.5 555 0.3 555 0.3 555 0.3 734 1,229 Other borrowings 85 - 73 - 72 - 68 - 63 - 12 22 Total deposits and borrowed funds $ 205,615 100 % $ 204,804 100 % $ 197,586 100 % $ 201,865 100 % $ 198,047 100 % $ 811 $ 7,568 Cost of funds Highlights 4.50% 4.00% 3.19% 3.16% 3.02% 3.00% 2.27% 2.25% 3.50% 3.00% 2.81% 2.70% 2.73% 2.50% 2.00% 3.03% 2.93% 2.95% Prepaid $2.5 billion of the FDIC Purchase Money Note during the quarter bringing total repayments to $7.5 billion through the end of the second quarter. Successfully completed the issuance of $750 million of fixed-to-floating rate senior bank notes during the quarter. Given continued deposit growth and the net reduction in total borrowings, funding mix improved and approximately 84% of our total funding is now provided by deposits. Total cost of deposits and cost of interest-bearing deposits both increased by 3 basis points from the linked quarter. 2.09% 1.50% 1.00% 0.50% 0.00% 2.04% 2.07% 2Q25 3Q25 4Q25 1Q26 2Q26 Cost of interest-bearing liabilities Cost of interest-bearing deposits Cost of deposits Note - Funding mix percentages may not foot due to rounding. Credit Quality Trends and Allowance ($ in millions) Net charge-offs & NCO ratio Provision (benefit) for credit losses 0.65% 0.47% $234 $191 0.33% $119 $143 $115 $72 $54 0.39% 0.45% $111 $108 0.37% 0.30% 0.30% 0.29% 0.29% 2Q25 3Q25 (1) 4Q25 (2) 1Q26 2Q26 $(10) NCO $ QTD NCO ratio YTD NCO ratio 2Q25 3Q25 (1) 4Q25 1Q26 2Q26 Nonaccrual loans / total loans & leases Allowance & ALLL ratio $1,319 $1,406 0.97% $1,307 0.96% 0.96% $1,429 $1,446 $1,672 $1,652 $1,566 0.98% 1.05% 1.06% $1,558 $1,484 0.93% 0.88% 1.14% 1.18% 2Q25 3Q25 4Q25 1Q26 2Q26 2Q25 3Q25 4Q25 1Q26 2Q26 Nonaccrual loans Nonaccrual loans to total loans ALLL ALLL ratio 3Q25 includes an $82 million individual client charge-off in the Commercial Services business within the Commercial Bank segment. This loss contributed 23 bps to the 3Q25 NCO ratio, 8 bps to the 3Q25 YTD NCO ratio, and impacted the quarterly provision for credit losses by $82 million. The $82 million individual client charge-off in 3Q25 contributed 6 bps to the 2025 YTD NCO ratio. Allowance for loan and lease losses ($ in millions) 1Q26 to 2Q26 $1,558 $(31) $1,484 $(18) $(17) $(8) 1Q26 Specific reserves Credit quality Economic scenarios Portfolio changes 2Q26 2Q26 vs 1Q26 ALLL decreased $74 million from the linked quarter. The decrease compared to the linked quarter was driven by lower specific reserves, improvements in credit quality including updates to certain models used to estimate the allowance, changes in the macroeconomic scenarios, and growth concentrated in capital call lines which have a significantly lower loss rate relative to our other loan portfolios. The ALLL covered annualized net charge-offs 3.4 times . The ALLL provided 1.0 times coverage of nonaccrual loans. 3.5x ALLL Coverage 3.5x 3.4x Highlights 2.7x 1.7x 1.3x 1.2x 1.2x 1.1x 1.0x 2Q25 3Q25 4Q25 1Q26 2Q26 ALLL ratio / NCO ratio ALLL / Nonaccrual loans Risk-based capital ratios Capital ratio rollforward Risk-Based Capital Total Tier 1 CET1 Tier 1 Leverage March 31, 2026 13.51% 11.79% 10.83% 9.30% Net income 0.37% 0.37% 0.37% 0.29% Change in risk-weighted/average assets -0.08% -0.07% -0.06% -0.09% Share repurchases -0.33% -0.33% -0.33% -0.26% Tier 2 Instrument call/phase outs -0.01% 0.00% 0.00% 0.00% Common dividends -0.01% -0.01% -0.01% -0.01% Preferred dividends -0.02% -0.02% -0.02% -0.01% Other -0.06% 0.00% -0.01% 0.00% June 30, 2026 13.37% 11.73% 10.77% 9.22% Change since March 31, 2026 -0.14% -0.06% -0.06% -0.08% 14.25% 14.05% 13.71% 13.51% 13.37% 12.63% 12.12% 12.15% 11.65% 11.91% 11.79% 11.73% 11.15% 10.83% 10.77% Capital 2Q25 3Q25 4Q25 1Q26 2Q26 CET1 Tier 1 Total Tier 1 Leverage ratio Tangible book value per share (1) 9.62% 9.34% 9.29% 9.30% 9.22% $102.91 $1,722.35 ($27.47) $1,674.11 ($23.00) ($4.20) 2Q25 3Q25 4Q25 1Q26 2Q26 4Q25 Retained AOCI Share Common 2Q26 Tier 1 Leverage ratio earnings repurchases dividends Note - The above capital ratios represent BancShares ratios and are preliminary pending completion of quarterly regulatory filings. (1) Non-GAAP measure: see Section V entitled Non-GAAP Reconciliations. Share Repurchase Plan Update Class A Common Shares Outstanding Highlights Since announcing a share repurchase plan in July 2024, we have repurchased 23.69% of Class A common shares and 22.05% of total common shares that were outstanding (1) as of June 30, 2024. During the third quarter of 2025 we fully utilized the $3.5 billion share repurchase plan announced in July 2024 and subsequently began repurchasing shares under the $4.0 billion share repurchase plan announced in July 2025. As of June 30, 2026 we had used 67% of the $4.0 billion share repurchase plan announced in July 2025 and had $1.3 billion of remaining repurchase capacity. 13,524,550 (814,641) 10,320,059 (1,578,462) (811,388) 6/30/2024 Repurchased Repurchase Summary (through 7/21/26) 2024 Repurchased 2025 Repurchased 2026 YTD 7/21/2026 Period Shares Average Price Total Cost ($ in millions ) 2024 814,641 $ 2,041.35 $ 1,663 2025 1,578,462 1,917.07 3,026 1Q26 449,845 2,000.67 900 2Q26 298,907 2,006.36 600 07/01/26 to 07/21/26 62,636 2,095.26 131 Total 3,204,491 $ 1,972.21 $ 6,320 (1) Total common shares outstanding includes 1,005,185 of Class B common shares outstanding as of June 30, 2024 and July 21, 2026. Financial Outlook Section III 28 Key Earnings Estimate Assumptions Metric 2Q26 3Q26 - Projected FY26 - Projected Loans and leases - EOP $151.0 billion $152 billion - $155 billion $153 billion - $157 billion Deposits - EOP $173.4 billion $179 billion - $182 billion $181 billion - $186 billion Interest rates Unchanged in 3Q26 Zero to one 25 bps rate hike in 2026; Fed funds ending between 3.50% - 4.00% Net interest income $1.7 billion $1.63 billion - $1.71 billion $6.60 billion - $6.75 billion Net charge-off ratio (annualized where applicable) 29 bps 30 bps - 40 bps 30 bps - 35 bps Adjusted noninterest income $586 million (1) $520 million - $560 million $2.14 billion - $2.22 billion Adjusted noninterest expense $1.35 billion (1) $1.33 billion - $1.37 billion $5.34 billion - $5.41 billion Effective tax rate 24.5% 24.5% - 25.5% 24.5% - 25.5% (1) Non-GAAP measure: see Section V entitled Non-GAAP Reconciliations. Note - Management does not provide a reconciliation for forward-looking non-GAAP financial measures where it is unable to provide a meaningful or accurate calculation or estimation of reconciling items and the information is not available without unreasonable effort. This is due to the inherent difficulty of forecasting the occurrence and the financial impact of various items that have not yet occurred, are out of BancShares' control, or cannot be reasonably predicted. For the same reasons, management is unable to address the probable significance of the unavailable information. Forward-looking non-GAAP financial measures provided without the most directly comparable GAAP financial measures may vary materially from the corresponding GAAP financial measures. Changes in the operating environment could introduce select risks to these assumptions. Please see important notices on forward looking statements found on page 3 for additional detail on inherent risks, uncertainties, changes in circumstances and other factors that are difficult to predict. Key Earnings Estimate Assumptions for 3Q26 and FY26 are inclusive of the BMO Bank N.A. branch acquisition expected to close by the end of the third quarter of 2026. Appendix Section IV Reclassifications Reclassifications In certain instances, amounts reported for prior periods in this investor presentation have been reclassified to conform to the current financial statement presentation. Such reclassifications had no effect on previously reported stockholders' equity or net income. Segment Reclassifications During the fourth quarter of 2025, BancShares changed the composition of the Commercial Bank segment to include SVB Commercial, which was previously a separate segment, and prior period segment financial information in this investor presentation was recast accordingly. The methodologies that we use to allocate items among our segments are dynamic and may be updated periodically to reflect enhanced expense base allocation drivers, changes in the risk profile of a segment or changes in our organizational structure. Accordingly, financial results may be revised periodically to reflect these enhancements. Class Reclassifications During the fourth quarter of 2025, we updated our loan classes as summarized below ("4Q25 Loan Class Changes"): Commercial real estate is a separate loan class. Prior to the 4Q25 Loan Class Changes, commercial real estate loans were primarily included in the non-owner occupied commercial mortgage and commercial construction loan classes. Additionally, commercial and industrial loans for the purpose of acquiring, constructing or developing real estate were previously included in the commercial and industrial loan class, and residential construction loans were previously included in the residential mortgage loan class. Capital call lines is a separate loan class. Prior to the 4Q25 Loan Class Changes, global fund banking (which included capital call lines and certain other commercial and industrial loans in the Global Fund Banking line of business) was a separate loan class. Commercial and industrial remained a separate loan class, but the composition was updated to: (i) include certain other commercial and industrial loans that were previously included in the global fund banking loan class prior to the 4Q25 Loan Class Changes, (ii) include leases, which was previously a separate loan class, and (iii) exclude commercial real estate loans that were previously included in the commercial and industrial loan class. Residential mortgage loans remained a separate loan class, but the composition was updated to exclude residential construction loans which are included in the commercial real estate loan class after the 4Q25 Loan Class Changes. Loan and lease disclosures for all periods presented in this investor presentation were recast to reflect the 4Q25 Loan Class Changes. The segment information in this investor presentation was not recast as a result of the 4Q25 Loan Class Changes because the composition of reportable segments is separate and distinct from the identification of loan classes. Glossary of Abbreviations and Acronyms The following is a list of certain abbreviations and acronyms used throughout this document. AFS - Available for Sale ALLL - Allowance for Loan and Lease Losses AOCI - Accumulated Other Comprehensive Income bps - Basis point(s); 1 bp = 0.01% C&I - Commercial and Industrial CET1 - Common Equity Tier 1 Risk-based Capital NCO - Net Charge-Off NDFI - Non-Depository Financial Institution NII - Net Interest Income NIM - Net Interest Margin NM - Not Meaningful PAA - Purchase Accounting Accretion or Amortization EOP - End of Period EPS - Earnings Per Share PE - Private Equity PPNR - Pre-Provision Net Revenue FDIC - Federal Deposit Insurance Corporation FFS - Fed Funds Sold FHLB - Federal Home Loan Bank GAAP - United States Generally Accepted Accounting Principles HQLS - High-Quality Liquid Securities HTM - Held to Maturity IBD - Interest-Bearing Deposits QTD - Quarter-to-date ROA - Return on Average Assets ROE - Return on Average Common Stockholders' Equity ROTCE - Return on Average Tangible Common Stockholders' Equity SBA - Small Business Administration VC - Venture Capital YTD - Year-to-date LP - Limited Partner BancShares Balance Sheets (unaudited) ($ in millions) Jun 30, 2026 Mar 31, 2026 Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 ASSETS Cash and due from banks $ 1,519 $ 1,080 $ 801 $ 874 $ 889 Interest-earning deposits at banks 21,132 23,189 19,801 24,798 26,184 Securities purchased under agreements to resell 737 223 232 83 300 Investment in marketable equity securities 156 130 127 110 97 Investment securities available for sale 33,983 33,314 31,790 34,963 33,060 Investment securities held to maturity 9,418 9,542 9,647 10,051 10,189 Assets held for sale 93 1,122 804 112 125 Loans and leases 151,034 148,692 147,930 144,758 141,269 Allowance for loan and lease losses (1,484) (1,558) (1,566) (1,652) (1,672) Loans and leases, net of allowance for loan and lease losses 149,550 147,134 146,364 143,106 139,597 Operating lease equipment, net 9,755 9,685 9,621 9,446 9,466 Premises and equipment, net 2,523 2,499 2,447 2,283 2,115 Goodwill 346 346 346 346 346 Other intangible assets, net 171 182 195 208 221 Other assets 7,459 7,513 7,523 7,108 7,064 Total assets $ 236,842 $ 235,959 $ 229,698 $ 233,488 $ 229,653 LIABILITIES Deposits: Noninterest-bearing $ 42,475 $ 43,606 $ 40,653 $ 42,752 $ 40,879 Interest-bearing 130,952 127,236 120,925 120,438 119,056 Total deposits 173,427 170,842 161,578 163,190 159,935 Credit balances of factoring clients 1,339 1,284 1,148 1,326 1,077 Short-term borrowings 152 170 224 423 471 Long-term borrowings 32,036 33,792 35,784 38,252 37,641 Total borrowings 32,188 33,962 36,008 38,675 38,112 Other liabilities 7,988 7,823 8,726 8,311 8,233 Total liabilities 214,942 213,911 207,460 211,502 207,357 STOCKHOLDERS' EQUITY Preferred stock 1,765 1,765 1,375 881 881 Common stock 11 12 12 13 13 Additional paid in capital - - - 270 1,179 Retained earnings 20,354 20,343 20,768 20,866 20,337 Accumulated other comprehensive loss (230) (72) 83 (44) (114) Total stockholders' equity 21,900 22,048 22,238 21,986 22,296 Total liabilities and stockholders' equity $ 236,842 $ 235,959 $ 229,698 $ 233,488 $ 229,653 BancShares Income Statements (unaudited) ($ in millions) 2Q26 1Q26 4Q25 3Q25 2Q25 INTEREST INCOME Loans and leases $ 2,253 $ 2,206 $ 2,290 $ 2,300 $ 2,270 Investment securities 401 384 424 433 419 Deposits at banks 197 196 226 265 256 Total interest income 2,851 2,786 2,940 2,998 2,945 INTEREST EXPENSE Deposits 881 833 861 911 894 Borrowings 314 332 357 353 356 Total interest expense 1,195 1,165 1,218 1,264 1,250 Net interest income 1,656 1,621 1,722 1,734 1,695 (Benefit) provision for credit losses (10) 72 54 191 115 Net interest income after provision for credit losses 1,666 1,549 1,668 1,543 1,580 NONINTEREST INCOME Rental income on operating lease equipment 280 281 281 273 272 Lending-related fees 73 69 64 67 69 Deposit fees and service charges 74 70 63 61 59 Client investment fees 59 53 54 58 52 Wealth management services 62 59 61 57 55 International fees 36 35 37 34 33 Factoring commissions 18 17 20 18 18 Cardholder services, net 38 38 37 39 41 Merchant services, net 13 13 13 12 13 Insurance commissions 13 13 12 13 14 Realized gain (loss) on sale of investment securities, net - - 3 - - Fair value adjustment on marketable equity securities, net 15 3 12 13 2 Gain on sale of leasing equipment, net 14 11 14 3 8 Loss on extinguishment of debt (7) (8) (9) - - Other noninterest income 88 38 53 51 42 Total noninterest income 776 692 715 699 678 NONINTEREST EXPENSE Depreciation on operating lease equipment 101 101 102 98 100 Maintenance and other operating lease expenses 67 65 64 67 55 Personnel cost 844 869 849 817 810 Net occupancy expense 59 60 61 58 61 Equipment expense 141 136 151 137 131 Professional fees 26 24 34 26 30 Third-party processing fees 100 93 75 67 63 FDIC insurance expense 39 38 27 38 38 Marketing expense 45 30 45 33 32 Acquisition-related expenses 8 5 33 28 38 Intangible asset amortization 11 13 13 13 13 Other noninterest expense 110 102 118 109 129 Total noninterest expense 1,551 1,536 1,572 1,491 1,500 Income before income taxes 891 705 811 751 758 Income tax expense 219 171 231 183 183 Net income $ 672 $ 534 $ 580 $ 568 $ 575 Preferred stock dividends $ 32 $ 26 $ 14 $ 14 $ 14 Net income available to common stockholders $ 640 $ 508 $ 566 $ 554 $ 561 High Quality and Diversified NDFI Portfolio NDFI Portfolio Characteristics Portfolio is diversified, well-collateralized and supported by structural protections ~ 83% of balance is in low risk capital call lines ~ 7% of balance to traditional private credit ~ 85% of private credit balances are to closed end and/ or publicly traded funds with lower redemption risk Net asset value loans Loans to funds collateralized by the PE funds' direct equity investments. Other Other includes loans to insurance companies, payment processors, equipment leasing, etc. Capital call lines Short-term commitments to funds where the primary source of repayment is the unfunded capital commitments of the underlying LPs. Private credit Includes two primary portfolios: Specialty finance and leveraged fund lines: Lines of credit provided to credit funds primarily secured by portfolios of first lien loans at conservative advance rates. Warehouse lines: Lines of credit secured by large pools of accounts receivable and loans. ($ in millions) 2Q26 $49,729 $59,878 $41,427 NDFI Composition $1,453 $2,689 $3,082 $34,203 2Q26 Total Loans $151,034 C&I NDFI Other C&I All other Other Net asset value loans Private credit Capital call lines Note - For purposes of this analysis, C&I loans are inclusive of four loans classes including Commercial and industrial, Capital call lines, Owner occupied commercial mortgage and Investor dependent. Average Deposit Account Size and Insured by Segment ($ in billions, except average account size, period end balances) Total deposits Average size Insured % General Bank $ 75.7 $ 37,511 64% Commercial Bank 45.7 599,861 31 Corporate 52.0 63,307 88 Total $ 173.4 $ 59,466 62% Note - Commercial Bank includes a small amount of Rail deposits.Totals may not foot due to rounding. Debt Securities Overview ($ in millions, period end balances) 2Q26 (1) Carrying value (2) % of Portfolio Yield (3) Duration in years AFS Portfolio U.S. Treasury $ 13,320 31 % 3.93 % 1.3 Government agency 33 - 2.76 0.3 Residential mortgage-backed securities 17,500 40 4.26 3.1 Commercial mortgage-backed securities 2,972 7 4.06 2.1 Corporate bonds 128 - 7.77 0.7 Municipal bonds 12 - 4.65 16.8 Other investments 18 - 7.46 4.8 Total AFS portfolio $ 33,983 78 % 4.13 % 2.3 HTM portfolio U.S. Treasury $ 390 1 % 1.44 % 1.3 Government agency 1,190 3 1.61 1.8 Residential mortgage-backed securities 4,311 10 2.68 5.3 Commercial mortgage-backed securities 3,279 8 2.22 3.2 Other investments 248 - 1.64 3.4 Total HTM portfolio $ 9,418 22 % 2.31 % 3.9 Grand total $ 43,401 100 % 3.73 % 2.6 Includes the debt securities portfolio; excludes marketable equity securities. Carrying value represents fair value for AFS and amortized cost for HTM portfolios. Yield represents actual accounting yield recognized during the quarter. General Bank Segment ($ in millions) Earnings Summary 2Q26 1Q26 4Q25 3Q25 2Q25 Increase (decrease) 2Q26 vs 1Q26 2Q26 vs 2Q25 $ % $ % Net interest income $ 819 $ 813 $ 841 $ 846 $ 824 $ 6 0.8 % $ (5) (0.7)% Total noninterest income 187 172 170 166 164 15 8.5 23 13.9 Total revenue 1,006 985 1,011 1,012 988 21 2.1 18 1.7 Total noninterest expense 601 600 604 582 580 1 0.1 21 3.4 Pre-provision net revenue (1) 405 385 407 430 408 20 5.3 (3) (0.6) Provision for credit losses 54 17 17 1 13 37 NM 41 NM Income before income taxes 351 368 390 429 395 (17) (4.6) (44) (11.2) Income tax expense 85 90 82 109 101 (5) (5.6) (16) (16.0) Net income $ 266 $ 278 $ 308 $ 320 $ 294 $ (12) (4.2)% $ (28) (9.6)% Period end Balances (2) Loans and leases $ 64,355 $ 64,367 $ 64,958 $ 65,225 $ 64,987 $ (12) (0.1)% $ (632) (1.0)% Deposits 75,718 75,914 74,796 74,596 73,499 (196) (1.0) 2,219 3.0 Other Key Metrics Number of branches 520 519 521 520 526 1 0.2 % (6) (1.1)% Wealth management assets under management ($B) $ 62.0 $ 59.7 $ 61.2 $ 59.9 $ 57.1 $ 2.3 3.9 $ 4.9 8.6 Card volume 4,850 4,475 4,713 4,621 4,629 375 8.4 221 4.8 Merchant volume 1,898 1,786 1,799 1,827 1,882 112 6.3 16 0.9 Note - Percent changes above are based on unrounded amounts and may not recalculate precisely using the displayed rounded amounts. Non-GAAP measure: see Section V entitled Non-GAAP Reconciliations. The linked quarter percent change is annualized. Commercial Bank Segment ($ in millions) Earnings Summary 2Q26 1Q26 4Q25 3Q25 2Q25 Increase (decrease) 2Q26 vs 1Q26 2Q26 vs 2Q25 $ % $ % Net interest income $ 805 $ 802 $ 834 $ 796 $ 789 $ 3 0.5 % $ 16 2.0 % Rental income on operating lease equipment 54 55 55 54 54 (1) (2.6) - - Less: depreciation on operating lease equipment 43 43 44 43 44 - - (1) (3.1) Adjusted rental income on operating lease equipment (1) 11 12 11 11 10 (1) (8.3) 1 10.0 All other noninterest income 270 230 241 236 228 40 17.5 42 18.6 Noninterest income, net (1) 281 242 252 247 238 39 16.1 43 18.1 Revenue 1,086 1,044 1,086 1,043 1,027 42 4.0 59 5.7 Noninterest expense, net (1) 586 603 612 596 605 (17) (2.8) (19) (3.1) Pre-provision net revenue (1) 500 441 474 447 422 59 13.6 78 18.5 (Benefit) provision for credit losses (64) 55 37 190 102 (119) NM (166) NM Income before income taxes 564 386 437 257 320 178 46.4 244 76.3 Income tax expense 136 95 102 64 82 41 44.4 54 66.5 Net income $ 428 $ 291 $ 335 $ 193 $ 238 $ 137 47.1 % $ 190 79.6 % Period end Balances (2) Loans and leases $ 86,635 $ 84,263 $ 82,910 $ 79,470 $ 76,220 $ 2,372 11.3 % $ 10,415 13.7 % Operating lease equipment, net 723 717 739 737 750 6 3.2 (27) (3.6) Deposits 45,690 47,191 41,532 42,869 40,697 (1,501) (12.8) 4,993 12.3 Off-balance sheet client funds 80,606 77,777 69,681 67,035 63,879 2,829 14.6 16,727 26.2 Other Key Metrics Factoring volume $ 5,878 $ 5,787 $ 6,547 $ 6,315 $ 5,481 $ 91 1.6 % $ 397 7.2 % Note - Commercial segment results do not include the accretion impact of SVB loans or the impact of overnight investments and debt that was added at the acquisition date (the aforementioned items are contained within Corporate). During 4Q25, the Commercial Bank segment was updated to include SVB Commercial, which was previously a separate segment, and prior period segment financial information was recast accordingly. Percent changes above are based on unrounded amounts and may not recalculate precisely using the displayed rounded amounts. Non-GAAP measure: see Section V entitled Non-GAAP Reconciliations. The linked quarter percent change is annualized. Rail Segment ($ in millions) Earnings Summary 2Q26 1Q26 4Q25 3Q25 2Q25 Increase (decrease) 2Q26 vs 1Q26 2Q26 vs 2Q25 $ % $ % Net interest expense $ 59 $ 58 $ 53 $ 55 $ 53 $ 1 2.1 % $ 6 10.0 % Rental income on operating lease equipment 226 226 226 219 218 - - 8 4.1 Less: depreciation on operating lease equipment 58 58 58 55 56 - - 2 5.6 Less: maintenance and other operating lease expenses 67 65 64 67 55 2 3.4 12 20.5 Adjusted rental income on operating lease equipment (1) 101 103 104 97 107 (2) (1.9) (6) (5.6) All other noninterest income 7 9 9 2 3 (2) (28.0) 4 96.0 Noninterest income, net (1) 108 112 113 99 110 (4) (3.6) (2) (1.8) Revenue 49 54 60 44 57 (5) (9.3) (8) (14.0) Noninterest expense, net (1) 24 25 22 22 32 (1) (4.0) (8) (25.0) Pre-provision net revenue (1) 25 29 38 22 25 (4) (15.7) - - Provision for credit losses - - - - - - - - - Income before income taxes 25 29 38 22 25 (4) (15.4) - - Income tax expense 6 7 9 5 6 (1) (16.6) - - Net income $ 19 $ 22 $ 29 $ 17 $ 19 $ (3) (15.1)% $ - - Period end Balances (2) Operating lease equipment, net $ 9,032 $ 8,968 $ 8,882 $ 8,709 $ 8,716 $ 64 2.9 % $ 316 3.6 % Other Key Metrics Railcars and locomotives (3) 129,300 128,600 128,400 127,600 127,300 700 0.5 % 2,000 1.6 % Utilization 96.7 % 96.2 % 96.2 % 96.8 % 96.9 % NM 0.5 NM (0.2) Renewal rate to previous rate 115 118 117 118 132 NM (3.0) NM (17.0) Note - Percent changes above are based on unrounded amounts and may not recalculate precisely using the displayed rounded amounts. Non-GAAP measure: see Section V entitled Non-GAAP Reconciliations. The linked quarter percent change is annualized. Railcars and locomotives number is rounded. Corporate ($ in millions) Earnings Summary 2Q26 1Q26 4Q25 3Q25 2Q25 Increase (decrease) 2Q26 vs 1Q26 2Q26 vs 2Q25 $ % $ % Net interest income $ 91 $ 64 $ 100 $ 147 $ 135 $ 27 40.7 % $ (44) (32.7)% Total noninterest income 32 - 14 22 11 32 NM 21 NM Total revenue 123 64 114 169 146 59 89.9 (23) (15.3) Total noninterest expense 172 142 168 126 128 30 20.6 44 34.9 Pre-provision net revenue (1) (49) (78) (54) 43 18 29 36.8 (67) NM Provision for credit losses - - - - - - - - - (Loss) Income before income taxes (49) (78) (54) 43 18 29 36.9 (67) NM Income tax (benefit) expense (8) (21) 38 5 (6) 13 56.8 (2) (31.9) Net (loss) income $ (41) $ (57) $ (92) $ 38 $ 24 $ 16 29.9 % $ (65) NM Period end Balance Sheet (2) Investment securities $ 43,539 $ 42,986 $ 41,564 $ 45,124 $ 43,346 $ 553 5.2 % $ 193 0.5 % Direct Bank deposits 48,222 45,408 44,802 45,146 45,111 2,814 24.9 3,111 6.9 Brokered deposits 3,325 1,831 - 134 154 1,494 NM 3,171 NM Note - Percent changes above are based on unrounded amounts and may not recalculate precisely using the displayed rounded amounts. Non-GAAP measure: see Section V entitled Non-GAAP Reconciliations. The linked quarter percent change is annualized.

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