Third Quarter 2026 Earnings Presentation

Parent of Rockland Trust

October 15, 2026

Safe & Sound

• Strong balance sheet

• Prudent interest rate and liquidity risk management

• Significant capital buffer

• Diversified, low-cost deposit base

• Experienced commercial lender with conservative credit culture

• Disciplined operator and acquiror

• Full suite of retail banking, commercial banking, and wealth product offerings

• Relationship-oriented commercial lending with strong local market knowledge and presence

• Exceptional third party customer service recognition in both commercial and retail

• Strong brand awareness and reputation

  Attractive Market

  • Top performing MA-based bank with scale and

    density

  • Supported by strong demographics in key markets served

  • Depth of market offers opportunities for continued growth

  • 2025 Enterprise acquisition added density to existing markets and expanded the Rockland franchise into Northern MA and Southern NH

  High Performing

• Consistent, strong profitability

• Focused on maintaining good margins

• Fee income contribution from scalable wealth franchise

• Efficient cost structure focused on operating leverage

• History of organic capital generation

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  Key Metrics

• Operating EPS of $1.90, increase of $0.20, or 12%, from prior quarter(1)

• Reported net interest margin of 3.89%, adjusted margin of 3.76%(1)

• Loans increased $158.2 million, or 0.9%, with growth across most major categories

• Deposits increased $135.3 million, or 0.7% (average deposits up $633.8 milion), with solid growth in business and consumer accounts partially offset by seasonality in municipal accounts

• Provision of $6.5 million driven primarily by one new non-performing loan

• Wealth AUA consistent at $9.5 billion

• Approximately 679,000 shares repurchased for $57.4 million

Q3 2026

Q2 2026

Q1 2026

Q4 2025

Q3 2025

1.00%

1.20%

1.23%

1.34%

1.35%

1.34%

1.40%

1.42%

Operating ROAA(1)

Q3 2026

Q2 2026

Q1 2026

Q4 2025

Q3 2025

$1.00

$1.50

$1.55

$1.70

$1.68

$1.70

$1.90

$2.00

Operating EPS(1)

Q3 2026

Q2 2026

Q1 2026

Q4 2025

Q3 2025

10.00%

12.50%

13.22%

14.05%

14.05%

14.30%

15.00%

15.43%

Operating ROATCE(1)

Q3 2026

Q2 2026

Q1 2026

Q4 2025

Q3 2025

1.00%

1.50%

1.70%

1.85%

1.85%

1.78%

1.95%

2.00%

Operating Pre-Provision Net Revenue ROAA(1)

(Dollars in millions)

Deposit Product Type

Noninterest-bearing demand deposits

Savings and interest checking

Money market

$ in billions

Time certificates of deposit Total deposits

5

Cost of deposits

Deposits

Q3 2026

Q2 2026

Q1 2026

Q4 2025

$0.0

$5.0

1.42%

1.36%

1.36%

1.46%

$10.0

$15.0

$20.0

$20.6

$19.9

$20.0

$20.3

Average Balances and Cost of Deposits

Savings/Int. Checking -32%

Money Market -25%

DDA -28%

Time Deposits -15%

Deposit Composition

(Dollars in millions)

Loan Category Commercial and industrial Commercial real estate Commercial construction Total commercial Residential real estate Home equity

$60

Total consumer real estate Total other consumer Total loans

$ 4,731 $ 49 1.0%

7,944 (84) (1.1)%

1,464 115 7.9%

14,139 80 0.6%

2,870 40 1.4%

1,343 41 3.1%

4,213 81 1.9%

42 (2) (4.8)%

$38

$ 18,394 $159 0.9%

6

Linked Quarter Change in Commercial Loans

$60

$38

$14,139

$14,219

$(11) $(7)

Q2 2026

C&I ex. Dealer Finance

CRE ex. Office

C&I - Dealer Finance

CRE - Office

Q3 2026

7

Q3 2026

Q2 2026

Q1 2026

Q4 2025

Q3 2025

$-

$200

$400

$600

Approved Commercial Loan Pipeline

($ in millions)

Regional Banking

Middle Market C&I

Institutional CRE

C&I

CRE

$400

$300

$200

$100

$-

Q3 2026 New Commercial Loan Commitments ($ in millions)

8

1.00%

$472.9

1.08%

1.06%

1.03%

1.03%

Allowance for Credit Loss &

Delinquency Trends

3.87%

3.86%

4.04%

3.31%

Delinquent Loans/Total Loans

0.73%

0.50%

0.32%

0.41%

0.43%

0.00%

Q4 2025

Q1 2026

Q2 2026

Q3 2026

Allowance for Credit Losses/Total Loans

$550.9

$160

0.50%

$80

0.25%

$0

Q4 2025 Q1 2026 Q2 2026 Q3 2026

NPLs ($Mil) NPL as % of Total Loans

0.45%

Commercial Criticized & Classified Loans

($ in millions)

$600.0

$450.0

$300.0

$150.0

$-

$575.5

$545.6

$125.7

6.00%

4.50%

3.00%

1.50%

-%

Q4 2025 Q1 2026 Q2 2026 Q3 2026

Criticized & Classified Loans

Criticized & Classified Loans as a % of Total Commercial Loans

0.75%

Nonperforming Loans ($ in millions)

0.56%

0.52%

0.68%

$103.6

$96.6

$83.6

275%

Office - 10.9%

($Bil)

CRE

CRE/Capital *

$12.0

$9.7

250%

$0.0

Mixed-Use Office - 1.9%

Residential -Related - 16.0%

Industrial/ Warehouse - 9.9%

Lodging - 8.5%

Multi-Family - 31.5%

Retail - 16.0%

CRE & Construction Portfolio

$9.4 billion

Other - 4.6%

Healthcare - 0.7%

*Rockland Trust Bank only. Ratio for Q3 2026 is an estimated number

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Q4 2025 Q1 2026 Q2 2026 Q3 2026

Health Care and Social Assistance -8.8%

Wholesale Trade - 10.8%

Construction - 10.2%

Accommodation and Food Services -8.3%

Manufacturing - 8.0%

Real Estate/Rental and Leasing - 9.2%

Educational Services - 3.9%

Retail Trade - 15.9%

All Other - 24.9%

C&I Portfolio

$4.8 billion

$9.6

278%

$9.4

$9.4

$8.0

300%

290%

$4.0

283%

278%

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CRE & Construction

Portfolio

Other CRE &

$9.4 billion

Construction - 89.2%

Office ($1.016B) - 10.8%

2.00%

6.00%

3.36%

3.13%

3.08%

2.96%

2.84%

4.00%

5.64%

5.58%

5.55%

5.57%

5.61%

Funding costs

1.72%

1.60%

1.52%

1.52%

1.56%

-%

Q3 2025

Q4 2025

Q1 2026

Q2 2026

Q3 2026

Security yields

Adjusted loan yields(1)

3.62%

4bp

-1bp

-26bp

-39bp

-4bp

Adjusted NIM (1)

Reported NIM

Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026

3.64%

3.54%

3.76%

3.76%

3.72%

Trend in Asset Yields vs. Funding Costs

Avg. Fed Funds Impact

3.89%

3.85%

3.90%

3.77%

4.00%

3.80%

3.60%

3.40%

3.20%

3.00%

Net Interest Margin

Total Loan Portfolio Rate Characteristics

Fixed Rate

Floating Rate Variable Rate

40%

34%

26%

8.00%

($ in thousands)

Salaries and employee benefits

management

Occupancy and equipment expenses Data processing and facilities

FDIC assessment

Amortization of intangible assets Other noninterest expenses Other - core conversion

Total noninterest expenses

Reconciliation of operating noninterest expense (Non-GAAP):

Less: core conversion Operating noninterest expense,

excluding core conversion (Non-GAAP)

Q2 2026

$ 79,088

16,170

3,208

3,158

6,791

29,713

2,144

$ 140,272

2,144

$ 138,128

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$ in millions

13

Q3 2026

Q2 2026

Q1 2026

Q4 2025

$-

$5,000

$9,506

$9,470

$9,172

$9,217

$10,000

Assets Under Administration

Fair Value

Fair Value

Value

Portfolio Composition at September 30, 2026 Book

Unrealized Gain/(Loss)

Book Value

Unrealized Gain/(Loss)

$ in millions

14

1.99%

4Q28

2.18%

4Q26

2.54%

2.54%

2.95%

3.82%

3.40%

1.86%

4Q27

2.02%

1Q28

2.26%

2Q28

2.30%

3Q28

Yield

$0.0

0.00%

1Q27

2Q27

3Q27

1Q29

2Q29

3Q29

4Q29

Paydowns*

$136.3

Projected Quarterly Paydowns and Maturities

$277.0

15.00%

$200.0

$184.4

$188.0

$185.3

$191.4

$187.0

10.00%

$300.0

$117.6

$122.6 $122.8

$100.0

$93.8

$97.4

$80.5

5.00%

3.47%

4.05%

• Commercial real estate and Construction: low-single digit annualized percentage increase

• Commercial and Industrial: mid-single digit annualized percentage increase

• Home equity: high-single digit annualized percentage increase

• Residential mortgage: flat to low-single digit annualized percentage increase

  Deposit Growth

• Flat to low-single digit annualized percentage increase

  Net Interest Income/ Margin

• • Net interest income: modest increase

  • Net interest margin: assuming no change in rates, reported margin in the low 3.90% range, including an estimated 10 basis point benefit from purchase loan accretion

    Loan Loss Provision

• Stable asset quality metrics

  Non-interest Income

• Low-single digit annualized percentage increase

  Non-interest Expense

• • Expenses excluding core conversion costs: low-single digit annualized percentage increase

  • Core conversion costs of approximately $1.0-1.5 million

    Tax Rate

• 23.3 - 23.4%, excluding discrete impact from annual tax return filing

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  Forward Looking Statements

This presentation contains certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 with respect to the financial condition, results of operations and business of the Company. These statements may be identified by such forward-looking terminology as "expect," "achieve," "plan," "believe," "outlook," "projected," "future," "positioned," "continued," "will," "would," "potential," "anticipated," "guidance," "target" or similar statements or variations of such terms. Actual results may differ from those contemplated by these forward-looking statements.

Factors that may cause actual results to differ materially from those contemplated by such forward-looking statements include, but are not limited to:

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The Company cautions readers not to place undue reliance on any forward-looking statements as the Company's business and its forward-looking statements involve substantial known and unknown risks and uncertainties described above and in the Company's most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q ("Risk Factors"). Except as required by law, the Company disclaims any intent or obligation to update publicly any such forward-looking statements, whether in response to new information, future events or otherwise. Any public statements or disclosures by the Company following this presentation which modify or impact any of the forward-looking statements contained in this presentation will be deemed to modify or supersede such statements in this release. In addition to the information set forth in this earnings presentation, you should carefully consider the Risk Factors.

This presentation contains financial information determined by methods other than in accordance with accounting principles generally accepted in the United States of America ("GAAP"). This information may include operating net income and operating earnings per share ("EPS"), operating return on average assets, operating pre-provision net revenue return on average assets, operating return on average common equity, operating return on average tangible common equity, operating noninterest expense, operating noninterest expense, excluding core conversion costs, adjusted net interest margin ("adjusted NIM" or "adjusted margin") and the associated adjusted loan yield (which is calculated by dividing annualized interest income on loans, plus or minus non-core or other adjustments, by average loans), tangible book value per share, tangible common equity ratio and return on average tangible common equity.

Management reviews its adjusted margin and adjusted loan yield to determine any items that may impact these metrics that may be one-time in nature or not reflective of its core operating environment, such as significant purchase accounting adjustments or other adjustments such as nonaccrual interest reversals/recoveries and prepayment penalties. Management believes that adjusting for these items to arrive at an adjusted margin and adjusted loan yield provides additional insight into the operating environment and how management decisions impact the net interest margin.

Management also supplements its evaluation of financial performance with analysis of tangible book value per share (which is computed by dividing stockholders' equity less goodwill and identifiable intangible assets, or "tangible common equity," by common shares outstanding), the tangible common equity ratio (which is computed by dividing tangible common equity by "tangible assets," defined as total assets less goodwill and other intangibles), and return on average tangible common equity (which is computed by dividing net income by average tangible common equity). The Company has included information on tangible book value per share, the tangible common equity ratio and return on average tangible common equity because management believes that investors may find it useful to have access to the same analytical tools used by management. As a result of merger and acquisition activity, the Company has recognized goodwill and other intangible assets in conjunction with business combination accounting principles. Excluding the impact of goodwill and other intangibles in measuring asset and capital values for the ratios provided, along with other bank standard capital ratios, provides a framework to compare the capital adequacy of the Company to other companies in the financial services industry.

These non-GAAP measures should not be viewed as a substitute for operating results and other financial measures determined in accordance with GAAP. An item which management excludes when computing these non-GAAP measures can be of substantial importance to the Company's results for any particular quarter or year. The Company's non-GAAP performance measures, including operating net income, operating EPS, operating return on average assets, operating pre-provision net revenue return on average assets, operating return on average common equity, operating return on average tangible common equity, operating noninterest expense, operating noninterest expense, excluding core conversion costs, adjusted margin, tangible book value per share and the tangible common equity ratio, are not necessarily comparable to non-GAAP performance measures which may be presented by other companies.

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18

(Unaudited, dollars in thousands, except per share data)

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Non-GAAP Reconciliation of Earnings Metrics

(Unaudited, dollars in thousands) Three Months Ended

September 30

2026

June 30

2026

March 31

2026

December 31

2025

September 30

2025

Net interest income (GAAP) $ 220,661 $ 210,927 $ 212,459 $ 212,486 $ 203,344

Noninterest income (GAAP) $ 41,287 $ 42,391 $ 40,262 $ 41,445 $ 40,398

Total revenue (GAAP) $ 261,948 $ 253,318 $ 252,721 $ 253,931 $ 243,742

Noninterest expense (GAAP) $ 138,420 $ 140,272 $ 142,918 $ 154,370 $ 160,836 Less: Merger and acquisition expense - - 3,024 12,348 23,893

Noninterest expense on an operating basis (Non-GAAP) $ 138,420 $ 140,272 $ 139,894 $ 142,022 $ 136,943 Average assets $ 25,110,494 $ 24,575,682 $ 24,702,391 $ 24,965,043 $ 24,930,449

Average common equity (GAAP) $ 3,514,701 $ 3,550,702 $ 3,591,389 $ 3,568,036 $ 3,557,840

Less: Average goodwill and other intangibles 1,207,596 1,214,434 1,221,201 1,227,889 1,236,109

Average tangible common equity (Non-GAAP) $ 2,307,105 $ 2,336,268 $ 2,370,188 $ 2,340,147 $ 2,321,731

Net income (GAAP) $ 89,749 $ 81,838 $ 79,919 $ 75,335 $ 34,262

Provision for non-PCD acquired loans - - - - 34,519 Noninterest expense components

Add - merger and acquisition expenses - - 3,024 12,348 23,893

Noncore increases to income before taxes - - 3,024 12,348 58,412

Net taxes associated with noncore items (1) - - (830) (3,326) (15,320) Add - adjustment for tax effect of previously incurred merger and acquisition expenses - - - - - Total tax impact - - (830) (3,326) (15,320)

Noncore increases to net income - - 2,194 9,022 43,092

Operating net income (Non-GAAP) $ 89,749 $ 81,838 $ 82,113 $ 84,357 $ 77,354

Weighted average common shares (diluted) 47,256,612 48,076,755 48,999,745 49,476,340 49,957,007

Diluted earnings per share (GAAP) $ 1.90 $ 1.70 $ 1.63 $ 1.52 $ 0.69

Diluted earnings per share, on an operating basis (Non-GAAP) $ 1.90 $ 1.70 $ 1.68 $ 1.70 $ 1.55

(1) The net taxes associated with noncore items is determined by assessing whether each noncore item is included or excluded from net taxable income and applying the Company's combined marginal tax rate to only those items included in net taxable income.

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