Associated Banc-Corp0000007789001-3134310-Q09/30/26FALSE2026Q312/31185,705,763P3YP3Y

The following table summarizes gross realized gains and losses on investment securities, the gain or loss on sale and fair value adjustment of equity securities, and proceeds from the sale of investment securities:

			Three Months Ended Sep 30,						Nine Months Ended Sep 30,
(in thousands)			2026			2025			2026			2025
Gross losses on HTM securities			$	—		$	—		$	(4)		$	—
Fair value adjustment of equity securities			(46)			1			(36)			13
Investment securities (losses) gains, net			$	(46)		$	1		$	(40)		$	13

——4—46136134614013————Subsequent Events

On April 1, 2026, the Corporation completed its previously announced acquisition of American National pursuant to the terms of the Merger Agreement by and between Associated and American National.

Pursuant to the Merger Agreement, (i) American National merged with and into Associated Banc-Corp, with Associated Banc-Corp continuing as the surviving corporation, and (ii) following such merger, American National Bank, a national banking association and wholly owned subsidiary of American National, merged with and into the Bank, with the Bank continuing as the surviving bank.

At the effective time of the merger, the outstanding shares of voting common stock and non-voting common stock of American National outstanding immediately prior to the effective time of the merger, other than certain shares held by the Corporation or American National, were converted into the right to receive an aggregate 22,975,382 shares of common stock of the Corporation. This represented 36.250 shares of the Corporation's common stock for each share of outstanding common stock of American National; with cash paid in lieu of fractional shares. Total consideration for the acquisition was 594.1 million valued at the acquisition date fair value of 25.86 per share.

American National operated 33 branches across Nebraska, Minnesota and Iowa, with a concentration in the Greater Omaha and Minneapolis / St. Paul metro markets. As a result of the acquisition, the Corporation will increase its deposit market share and deliver its products and services to an expanded client base across attractive Midwest markets. As of March 31, 2026, American National had total assets of 5.2 billion, total loans of 3.8 billion and total deposits of 4.5 billion.

The acquisition of American National will be accounted for as a business combination using the acquisition method of accounting in accordance with FASB ASC Topic 805, Business Combinations, which requires assets acquired and liabilities assumed to be recognized at fair value as of the acquisition date. Due to the timing of the acquisition, the initial accounting for the acquisition has not been completed. The Corporation expects to finalize the valuation and complete the purchase price allocation as soon as practicable.

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Table of Contents

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)

☑			QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended: September 30, 2026

or

☐			TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
			For the transition period from             to

Commission file number: 001-31343

Associated Banc-Corp

(Exact name of registrant as specified in its charter)

Wisconsin									39-1098068
(State or other jurisdiction of incorporation or organization)									(I.R.S. Employer Identification No.)

433 Main Street
Green Bay,			Wisconsin						54301
(Address of principal executive offices)									(Zip Code)

(920) 491-7500

(Registrant’s telephone number, including area code)

(not applicable)

(Former name, former address and former fiscal year, if changed since last report)

Securities Registered Pursuant to Section 12(b) of the Act:

Title of each class			Trading symbol(s)			Name of each exchange on which registered
Common stock, par value $0.01 per share			ASB			New York Stock Exchange
Depositary Shrs, each representing 1/40th intrst in a shr of 5.875% Non-Cum. Perp Pref Stock, Srs E			ASB PrE			New York Stock Exchange
Depositary Shrs, each representing 1/40th intrst in a shr of 5.625% Non-Cum. Perp Pref Stock, Srs F			ASB PrF			New York Stock Exchange
6.625% Fixed-Rate Reset Subordinated Notes due 2033			ASBA			New York Stock Exchange

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Yes  ☑        No  ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).

Yes  ☑        No  ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer

☑

Accelerated filer

☐

Non-accelerated filer

☐

Smaller reporting company

☐

Emerging growth company

☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

Yes  ☐        No  ☑

APPLICABLE ONLY TO CORPORATE ISSUERS:

The number of shares outstanding of registrant’s common stock, par value $0.01 per share, at October 23, 2026 was 185,705,763.

1

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ASSOCIATED BANC-CORP
Table of Contents

						Page
PART I. Financial Information
			Item 1. Financial Statements (Unaudited):			5
			Consolidated Balance Sheets			5
			Consolidated Statements of Income			6
			Consolidated Statements of Comprehensive Income			7
			Consolidated Statements of Changes in Stockholders’ Equity			8
			Consolidated Statements of Cash Flows			10
			Notes to Consolidated Financial Statements			12
			Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations			54
			Item 3. Quantitative and Qualitative Disclosures About Market Risk			79
			Item 4. Controls and Procedures			80
PART II. Other Information
			Item 1. Legal Proceedings			81
			Item 1A. Risk Factors			81
			Item 2. Unregistered Sales of Equity Securities and Use of Proceeds			81
			Item 5. Other Information			81
			Item 6. Exhibits			82
			Signatures			83

2

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ASSOCIATED BANC-CORP
Commonly Used Terms
The following listing provides a reference of common acronyms, abbreviations, and other defined terms used throughout the document:

ACLL			Allowance for Credit Losses on Loans
AFS			Available for Sale
ALCO			Asset / Liability Committee
AOCI			Accumulated Other Comprehensive Income
American National			American National Corporation
ASC			Accounting Standards Codification
ASU			Accounting Standards Update
the Bank			Associated Bank, National Association
Basel III			International framework established by the Basel Committee on Banking Supervision for the regulation of capital and liquidity
bp			basis point(s)
CDs			Certificates of Deposit
CDIs			Core Deposit Intangibles
CECL			Current Expected Credit Losses
CET1			Common Equity Tier 1
Corporation / our			Associated Banc-Corp collectively with all of its subsidiaries and affiliates
CRA			Community Reinvestment Act
CRE			Commercial Real Estate
EAR			Earnings at Risk
ERC			Enterprise Risk Committee of the Corporation's Board of Directors
Exchange Act			Securities Exchange Act of 1934, as amended
FASB			Financial Accounting Standards Board
FDIC			Federal Deposit Insurance Corporation
Federal Reserve			Board of Governors of the Federal Reserve System
FFELP			Federal Family Education Loan Program
FHLB			Federal Home Loan Bank
FHLMC			Federal Home Loan Mortgage Corporation
FICO			Fair Isaac Corporation
FNMA			Federal National Mortgage Association
FTEs			Full-time equivalent employees
FTP			Funds Transfer Pricing
GAAP			Generally Accepted Accounting Principles
GNMA			Government National Mortgage Association
GSE			Government-Sponsored Enterprise
HTM			Held to Maturity
LTV			Loan-to-Value
Merger Agreement			Agreement and Plan of Merger dated November 30, 2025
Moody's			Moody’s Investors Service
MSRs			Mortgage Servicing Rights
MVE			Market Value of Equity
NAV			Net Asset Value measured at fair value per share (or its equivalent) as a practical expedient
Net Free Funds			Noninterest-bearing sources of funds
NPAs			Nonperforming Assets
OCI			Other Comprehensive Income
OREO			Other Real Estate Owned

3

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Parent Company			Associated Banc-Corp individually
PCD			Purchased Credit-Deteriorated
PSL			Purchased Seasoned Loans
QTD			Quarter-to-date
RAP			Retirement Account Plan
Repurchase Agreements			Securities sold under agreements to repurchase
Restricted Stock Awards			Restricted common stock and restricted common stock units
Rev Loan(s)			Revolving loans
SBA			Small Business Administration
SEC			U.S. Securities and Exchange Commission
Series E Preferred Stock			The Corporation's 5.875% Non-Cumulative Perpetual Preferred Stock, Series E, liquidation preference $1,000 per share
Series F Preferred Stock			The Corporation's 5.625% Non-Cumulative Perpetual Preferred Stock, Series F, liquidation preference $1,000 per share
SOFR			Secured Overnight Finance Rate
YTD			Year-to-Date

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Table of Contents

PART I - FINANCIAL INFORMATION
ITEM 1.			Financial Statements:

ASSOCIATED BANC-CORP

Consolidated Balance Sheets

			Sep 30, 2026			Dec 31, 2025
(in thousands, except share and per share data)			(Unaudited)			(Audited)
Assets
Cash and due from banks			$	644,519		$	574,698
Interest-bearing deposits in other financial institutions			982,850			1,144,123
Federal funds sold and securities purchased under agreements to resell			100			1,400
AFS investment securities, net			6,198,828			5,397,563
HTM investment securities, net			3,462,166			3,602,519
Equity securities			30,043			26,060
Regulatory stocks, at cost			304,330			252,514
Residential loans held for sale			66,770			72,499
Loans			36,519,871			31,163,614
Allowance for loan losses			(441,124)			(378,068)
Loans, net			36,078,747			30,785,546
Tax credit and other investments			242,894			236,657
Premises and equipment, net			447,112			381,624
Bank and corporate owned life insurance			717,175			694,452
Goodwill			1,147,081			1,104,992
Other intangible assets, net			110,059			22,849
Mortgage servicing rights, net			94,919			86,337
Interest receivable			183,595			161,118
Other assets			688,664			657,645
Total assets			$	51,399,852		$	45,202,596
Liabilities and stockholders' equity
Noninterest-bearing demand deposits			$	6,914,688		$	6,126,632
Interest-bearing deposits			33,466,262			29,425,976
Total deposits			40,380,950			35,552,608
Federal funds purchased and securities sold under agreements to repurchase			266,329			307,864
FHLB advances			3,961,112			3,268,094
Senior and subordinated debt			589,168			594,276
Allowance for unfunded commitments			49,744			41,276
Accrued expenses and other liabilities			676,917			463,131
Total liabilities			$	45,924,220		$	40,227,249
Stockholders' equity
Preferred equity			$	194,112		$	194,112
Common equity
Common stock			$	2,120		$	1,890
Surplus			2,652,864			2,050,410
Retained earnings			3,476,940			3,226,756
Accumulated other comprehensive loss			(247,316)			(7,566)
Treasury stock, at cost			(603,088)			(490,255)
Total common equity			5,281,520			4,781,235
Total stockholders' equity			5,475,632			4,975,347
Total liabilities and stockholders' equity			$	51,399,852		$	45,202,596
Preferred shares authorized (par value $1.00 per share)			750,000			750,000
Preferred shares issued and outstanding			200,000			200,000
Common shares authorized (par value $0.01 per share)			250,000,000			250,000,000
Common shares issued			211,991,791			189,016,409
Common shares outstanding			185,693,975			165,979,940

See accompanying notes to consolidated financial statements.

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Table of Contents

Item 1. Financial Statements Continued:

ASSOCIATED BANC-CORP

Consolidated Statements of Income (Unaudited)

			Three Months Ended Sep 30,						Nine Months Ended Sep 30,
(in thousands, except per share data)			2026			2025			2026			2025
Interest income
Interest and fees on loans			$	516,411		$	455,623		$	1,449,927		$	1,336,703
Interest and dividends on investment securities
Taxable			87,551			73,727			251,574			214,689
Tax-exempt			13,510			13,888			40,972			41,746
Other interest			16,109			13,353			42,444			35,274
Total interest income			633,581			556,591			1,784,917			1,628,412
Interest expense
Interest on deposits			208,601			202,344			587,639			609,139
Interest on federal funds purchased and securities sold under agreements to repurchase			3,008			2,107			10,826			7,733
Interest on FHLB advances			34,138			35,965			100,760			86,944
Interest on senior and subordinated debt			10,231			10,741			30,556			32,526
Interest on other interest-bearing liabilities			352			212			657			907
Total interest expense			256,330			251,369			730,438			737,250
Net interest income			377,251			305,222			1,054,479			891,163
Provision for credit losses			14,005			16,000			44,394			46,999
Net interest income after provision for credit losses			363,246			289,223			1,010,085			844,164
Noninterest income
Wealth management fees			26,161			25,315			77,596			70,837
Service charges and deposit account fees			16,793			13,861			46,709			39,822
Card-based fees			14,549			12,308			40,289			33,950
Other fee-based revenue			6,630			5,414			17,250			15,659
Capital markets, net			10,702			10,764			24,720			20,873
Mortgage banking, net			1,765			3,541			10,653			11,577
Loss on mortgage portfolio sale			—			—			—			(6,976)
Bank and corporate owned life insurance			4,691			4,051			13,122			13,391
Asset gains, net			2,676			3,340			4,305			727
Investment securities (losses) gains, net			(46)			1			(40)			13
Other			3,210			2,670			8,783			7,147
Total noninterest income			87,131			81,265			243,387			207,019
Noninterest expense
Personnel			153,714			135,703			450,054			386,593
Technology			42,725			28,590			105,328			82,237
Occupancy			15,552			12,757			43,369			40,782
Business development and advertising			9,477			8,362			25,851			22,496
Equipment			5,480			4,368			16,514			13,389
Legal and professional			9,053			5,232			33,228			17,989
Loan and foreclosure costs			2,039			1,638			5,298			6,937
FDIC assessment			11,802			9,980			31,234			30,124
Other intangible amortization			6,894			2,203			15,990			6,608
Other			3,606			7,369			24,520			29,017
Total noninterest expense			260,342			216,202			751,386			636,173
Income before income taxes			190,035			154,286			502,086			415,010
Income tax expense			43,449			29,554			112,301			77,362
Net income			146,586			124,732			389,785			337,648
Preferred stock dividends			2,875			2,875			8,625			8,625
Net income available to common equity			$	143,711		$	121,857		$	381,160		$	329,023
Earnings per common share
Basic			$	0.77		$	0.73		$	2.11		$	1.98
Diluted			$	0.76		$	0.73		$	2.09		$	1.96
Average common shares outstanding
Basic			186,685			165,029			180,034			165,064
Diluted			188,500			166,703			181,782			166,645

Numbers may not recalculate due to rounding conventions.

See accompanying notes to consolidated financial statements.

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Item 1. Financial Statements Continued:

ASSOCIATED BANC-CORP

Consolidated Statements of Comprehensive Income (Unaudited)

			Three Months Ended Sep 30,						Nine Months Ended Sep 30,
(in thousands)			2026			2025			2026			2025
Net income			$	146,586		$	124,732		$	389,785		$	337,648
Other comprehensive (loss) income, net of tax
Investment securities
Net unrealized (losses) gains			(199,386)			(5,178)			(272,763)			47,970
Amortization of net unrealized losses on AFS securities transferred to HTM securities			1,912			1,992			5,503			5,978
Income tax benefit (expense)			49,254			795			66,660			(13,456)
Other comprehensive (loss) income on investment securities			(148,220)			(2,392)			(200,600)			40,492
Cash flow hedge derivatives
Net unrealized (losses) gains			(15,247)			(825)			(29,665)			7,707
Reclassification adjustment for net (gains) losses realized in net income			(436)			1,440			(1,779)			3,995
Income tax (expense) benefit			(3,773)			148			(7,565)			2,816
Other comprehensive (loss) income on cash flow hedge derivatives			(19,456)			763			(39,009)			14,518
Defined benefit pension and postretirement obligations
Amortization of prior service cost			(63)			(63)			(189)			(189)
Net actuarial gain			—			—			—			4,770
Amortization of actuarial loss			—			(4)			—			(12)
Income tax benefit (expense)			16			17			47			(1,140)
Other comprehensive (loss) income on pension and postretirement obligations			(47)			(51)			(142)			3,429
Total other comprehensive (loss) income			(167,723)			(1,680)			(239,750)			58,439
Comprehensive (loss) income			$	(21,137)		$	123,052		$	150,035		$	396,087

Numbers may not recalculate due to rounding conventions.

See accompanying notes to consolidated financial statements.

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Item 1. Financial Statements Continued:

ASSOCIATED BANC-CORP

Consolidated Statements of Changes in Stockholders’ Equity (Unaudited)

(in thousands, except per share data)			Preferred Equity			Common Stock			Surplus			Retained Earnings			Accumulated Other Comprehensive  Loss			Treasury Stock			Total
Balance, December 31, 2025			$	194,112		$	1,890		$	2,050,410		$	3,226,756		$	(7,566)		$	(490,255)		$	4,975,347
Comprehensive income:
Net income			—			—			—			119,635			—			—			119,635
Other comprehensive loss			—			—			—			—			(36,939)			—			(36,939)
Comprehensive income																					82,696
Common stock issued:
Stock-based compensation plans, net			—			—			(5,126)			—			—			12,247			7,121
Purchase of treasury stock, open market purchases			—			—			—			—			—			(25,202)			(25,202)
Purchase of treasury stock, stock-based compensation plans			—			—			—			—			—			(6,377)			(6,377)
Cash dividends:
Common stock(a)			—			—			—			(40,058)			—			—			(40,058)
Preferred stock(b)			—			—			—			(2,875)			—			—			(2,875)
Stock-based compensation expense, net			—			—			7,220			—			—			—			7,220
Balance, March 31, 2026			$	194,112		$	1,890		$	2,052,504		$	3,303,458		$	(44,505)		$	(509,587)		$	4,997,872
Comprehensive income:
Net income			—			—			—			123,564			—			—			123,564
Other comprehensive loss			—			—			—			—			(35,088)			—			(35,088)
Comprehensive income																					88,476
Common stock issued:
American National acquisition			—			230			593,914			—			—			—			594,144
Stock-based compensation plans, net			—			—			(1,360)			—			—			4,472			3,112
Purchase of treasury stock, stock-based compensation plans			—			—			—			—			—			(653)			(653)
Cash dividends:
Common stock(a)			—			—			—			(45,741)			—			—			(45,741)
Preferred stock(b)			—			—			—			(2,875)			—			—			(2,875)
Stock-based compensation expense, net			—			—			3,788			—			—			—			3,788
Balance, June 30, 2026			$	194,112		$	2,120		$	2,648,846		$	3,378,406		$	(79,593)		$	(505,768)		$	5,638,123
Comprehensive income:
Net income			—			—			—			146,586			—			—			146,586
Other comprehensive loss			—			—			—			—			(167,723)			—			(167,723)
Comprehensive income																					(21,137)
Common stock issued:
Stock-based compensation plans, net			—			—			(1,115)			—			—			5,678			4,563
Purchase of treasury stock, open market purchases			—			—			1,640			—			—			(101,640)			(100,000)
Purchase of treasury stock, stock-based compensation plans			—			—			—			—			—			(1,358)			(1,358)
Cash dividends:
Common stock(a)			—			—			—			(45,177)			—			—			(45,177)
Preferred stock(b)			—			—			—			(2,875)			—			—			(2,875)
Stock-based compensation expense, net			—			—			3,493			—			—			—			3,493
Balance, September 30, 2026			$	194,112		$	2,120		$	2,652,864		$	3,476,940		$	(247,316)		$	(603,088)		$	5,475,632

(a) Common stock dividends of $0.24 per share.

(b) Preferred stock dividends for Series E of $0.3671875 per share and for Series F of $0.3515625 per share.

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(in thousands, except per share data)			Preferred Equity			Common Stock			Surplus			Retained Earnings			Accumulated Other Comprehensive Income (Loss)			Treasury Stock			Total
Balance, December 31, 2024			$	194,112		$	1,890		$	2,047,349		$	2,919,252		$	(74,416)		$	(482,626)		$	4,605,562
Comprehensive income:
Net income			—			—			—			101,687			—			—			101,687
Other comprehensive income			—			—			—			—			39,272			—			39,272
Comprehensive income																					140,959
Common stock issued:
Public common stock offering			—			—			(52)			—			—			—			(52)
Stock-based compensation plans, net			—			—			(14,297)			—			—			16,489			2,192
Purchase of treasury stock, open market purchases			—			—			—			—			—			(22,292)			(22,292)
Purchase of treasury stock, stock-based compensation plans			—			—			—			—			—			(5,816)			(5,816)
Cash dividends:
Common stock(a)			—			—			—			(38,538)			—			—			(38,538)
Preferred stock(b)			—			—			—			(2,875)			—			—			(2,875)
Stock-based compensation expense, net			—			—			7,419			—			—			—			7,419
Balance, March 31, 2025			$	194,112		$	1,890		$	2,040,419		$	2,979,526		$	(35,144)		$	(494,246)		$	4,686,558
Comprehensive income:
Net income			—			—			—			111,230			—			—			111,230
Other comprehensive income			—			—			—			—			20,847			—			20,847
Comprehensive income																					132,076
Common stock issued:
Stock-based compensation plans, net			—			—			543			—			—			(449)			94
Purchase of treasury stock, stock-based compensation plans			—			—			—			—			—			(93)			(93)
Cash dividends:
Common stock(a)			—			—			—			(38,498)			—			—			(38,498)
Preferred stock(b)			—			—			—			(2,875)			—			—			(2,875)
Stock-based compensation expense, net			—			—			3,518			—			—			—			3,518
Balance, June 30, 2025			$	194,112		$	1,890		$	2,044,481		$	3,049,383		$	(14,297)		$	(494,788)		$	4,780,781
Comprehensive income:
Net income			—			—			—			124,732			—			—			124,732
Other comprehensive loss			—			—			—			—			(1,680)			—			(1,680)
Comprehensive income																					123,052
Common stock issued:
Stock-based compensation plans, net			—			—			(474)			—			—			3,064			2,590
Purchase of treasury stock, stock-based compensation plans			—			—			—			—			—			(346)			(346)
Cash dividends:
Common stock(a)			—			—			—			(38,531)			—			—			(38,531)
Preferred stock(b)			—			—			—			(2,875)			—			—			(2,875)
Stock-based compensation expense, net			—			—			3,627			—			—			—			3,627
Balance, September 30, 2025			$	194,112		$	1,890		$	2,047,634		$	3,132,709		$	(15,977)		$	(492,070)		$	4,868,298

Numbers may not recalculate due to rounding conventions.
(a) Common stock dividends of $0.23 per share.

(b) Preferred stock dividends for Series E of $0.3671875 per share and for Series F of $0.3515625 per share.

See accompanying notes to consolidated financial statements.

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Item 1. Financial Statements Continued:

ASSOCIATED BANC-CORP
Consolidated Statements of Cash Flows (Unaudited)

			Nine Months Ended Sep 30,
(in thousands)			2026			2025
Cash flows from operating activities
Net income			$	389,785		$	337,648
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for credit losses			44,394			46,999
Depreciation and amortization			36,857			37,959
Change in MSRs valuation			(6,670)			2,464
Amortization of other intangible assets			15,990			6,608
Amortization and accretion on earning assets, funding, and other, net			18,398			30,520
Net amortization of tax credit investments			25,623			26,307
Loss on sales of investment securities, net			4			—
Asset losses, net			(4,305)			(727)
Loss on mortgage banking activities, net			4,686			103
Loss on mortgage portfolio sale			—			6,976
Net periodic pension benefit			(18,463)			(18,540)
Mortgage loans originated for sale			(541,424)			(470,456)
Proceeds from sales of mortgage loans held for sale			546,342			451,869
Changes in certain assets and liabilities:
Increase in interest receivable			(2,577)			(678)
Increase in BOLI/COLI cash surrender value			(13,122)			(13,391)
Decrease in net income tax position			60,622			69,984
Decrease in interest payable			(3,883)			(28,163)
Decrease in expense payable			(26,232)			(18,790)
Decrease (increase) in net derivative position			128,297			(63,192)
Net change in other assets and other liabilities			17,829			(5,890)
Net cash provided by operating activities			672,151			397,610
Cash flows from investing activities
Net increase in loans			(1,655,909)			(1,224,724)
Purchases of:
AFS securities			(2,131,161)			(1,355,308)
HTM securities			—			(994)
Regulatory stocks and equity securities			(176,316)			(187,426)
Proceeds from:
Sales of AFS securities			995,831			—
Sales of HTM securities			1,221			—
Sales of regulatory stocks and equity securities			124,515			112,964
Prepayments, calls, and maturities of AFS securities			1,100,423			761,540
Prepayments, calls, and maturities of HTM securities			141,438			106,160
Sales, prepayments, calls, and maturities of other assets			37,275			18,929
Sale of mortgage portfolio			—			564,375
Premises, equipment, and software			(29,958)			(28,591)
Net change in tax credit and alternative investments			(16,784)			(16,800)
Net cash received from the American National acquisition			220,898			—
Net cash used in investing activities			(1,388,527)			(1,249,875)
Cash flows from financing activities
Net increase in deposits			283,142			233,419
Net decrease in short-term funding			(55,856)			(70,704)
Net increase in short-term FHLB advances			557,250			1,560,000
Repayment of long-term FHLB advances			(202,516)			(400,198)
Proceeds from long-term FHLB advances			300,000			200,898
Repayment of finance lease principal			—			(67)
Repayment of long-term funding			—			(250,000)
Proceeds from issuance of common stock for stock-based compensation plans			14,796			4,876
Purchase of treasury stock, open market purchases			(125,202)			(22,292)
Purchase of treasury stock, stock-based compensation plans			(8,389)			(6,256)
Cash dividends on common stock			(130,976)			(115,566)
Cash dividends on preferred stock			(8,625)			(8,625)
Payments for other financing activities			—			(52)
Net cash provided by financing activities			623,624			1,125,433
Net (decrease) increase in cash and cash equivalents			(92,752)			273,168
Cash and cash equivalents at beginning of period			1,720,221			1,019,604
Cash and cash equivalents at end of period			$	1,627,469		$	1,292,772

Numbers may not recalculate due to rounding conventions.

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ASSOCIATED BANC-CORP

Consolidated Statements of Cash Flows

			Nine Months Ended Sep 30,
(in thousands)			2026			2025
Supplemental disclosures of cash flow information
Cash paid for interest			$	730,605		$	763,622
Issuance of common stock as consideration for the American National acquisition			594,144			—
Assets acquired from the American National acquisition			5,228,544			—
Liabilities assumed from the American National acquisition			4,634,400			—
Loans transferred to (from) held for sale from (into) portfolio, net			4,878			(54,339)

See accompanying notes to consolidated financial statements.

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Item 1. Financial Statements Continued:

ASSOCIATED BANC-CORP

Notes to Consolidated Financial Statements

These interim consolidated financial statements have been prepared according to the rules and regulations of the SEC and, therefore, certain information and footnote disclosures normally presented in accordance with GAAP have been omitted or abbreviated. The information contained on the consolidated financial statements and footnotes in Associated Banc-Corp's 2025 Annual Report on Form 10-K should be referred to in connection with the reading of these unaudited interim consolidated financial statements.

Note 1 Basis of Presentation

In the opinion of management, the accompanying unaudited consolidated financial statements contain all adjustments necessary to present fairly the financial position, results of operations and comprehensive income, changes in stockholders’ equity, and cash flows of the Corporation for the periods presented, and all such adjustments are of a normal recurring nature. The consolidated financial statements include the accounts of all subsidiaries. All significant intercompany transactions and balances have been eliminated in consolidation. The results of operations for the interim periods are not necessarily indicative of the results to be expected for the full year.

In preparing the consolidated financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the balance sheet and revenues and expenses for the period. Actual results could differ significantly from those estimates. The determination of the ACLL is particularly susceptible to significant change. Management has evaluated subsequent events for potential recognition or disclosure.

Within the tables presented, certain columns and rows may not recalculate due to the use of rounded numbers for disclosure purposes.

Note 2 Summary of Significant Accounting Policies

The accounting and reporting policies of the Corporation conform to U.S. GAAP and to general practice within the financial services industry. A discussion of these policies can be found in Note 1 Summary of Significant Accounting Policies included in the Corporation’s 2025 Annual Report on Form 10-K, except for new accounting pronouncements adopted, as discussed below.

New Accounting Pronouncements Adopted

Standard			Description			Date of Adoption			Effect on Financial Statements
ASU 2025-08 Financial Instruments-Credit Losses (Topic 326)			The amendments in this update expand the gross-up approach for initial recognition and measurement of acquired financial assets to purchased seasoned loans.			Early adopted effective April 1, 2026 on a prospective basis, as permitted by the standard			The Corporation early adopted this standard and applied it in the purchase accounting for the acquisition of American National. The ASU expands the gross-up approach to certain acquired non-PCD loans that qualify as purchased seasoned loans, including loans acquired in a business combination, resulting in the acquisition-date allowance for credit losses being added to the loans’ initial amortized cost basis rather than recognized as a Day 1 provision for credit losses. Refer to Note 3 for additional information.

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Future Accounting Pronouncements

The expected impact of applicable material accounting pronouncements recently issued or proposed but not yet required to be adopted are discussed in the table below. To the extent that the adoption of new accounting standards materially affects the Corporation's financial condition, results of operations, liquidity or disclosures, the impacts are discussed in the applicable sections of this financial review.

Standard			Description			Date of Anticipated Adoption			Effect on Financial Statements
ASU 2024-03 Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures (Subtopic 220-40)			The amendments in this update require a public business entity to disclose specific information about certain costs and expenses in the notes to its financial statements for interim and annual reporting periods. The objective of the disclosure requirements is to provide disaggregated information about a public business entity's expenses to help investors (a) better understand the entity's performance, (b) better assess the entity's prospects for future cash flows, and (c) compare an entity's performance over time and with that of other entities.			Annual period ending December 31, 2027 and subsequent interim periods			The Corporation is currently evaluating the impact on its disclosures.
ASU 2025-06 Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40)			The amendments in this update simplify the capitalization guidance by removing all references to prescriptive and sequential software development stages to align with the shift to incremental and iterative software development methods.			Interim period ending March 31, 2028 and subsequent periods			The Corporation is currently evaluating the impact on its disclosures.

Note 3 Business Combinations

On April 1, 2026, the Corporation completed its previously announced acquisition of American National pursuant to the terms of the Merger Agreement by and between the Corporation and American National.

Pursuant to the Merger Agreement, (i) American National merged with and into Associated Banc-Corp, with Associated Banc-Corp continuing as the surviving corporation, and (ii) immediately following such merger, American National Bank, a national banking association and wholly owned subsidiary of American National, merged with and into the Bank, with the Bank continuing as the surviving bank.

At the effective time of the merger, 100% of the outstanding shares of voting common stock and non-voting common stock of American National outstanding immediately prior to the effective time of the merger, other than certain shares held by the Corporation or American National, were converted into the right to receive an aggregate 22,975,382 shares of common stock of the Corporation. This represented 36.250 shares of the Corporation's common stock for each share of outstanding common stock of American National, with cash paid in lieu of fractional shares. Total consideration for the acquisition was $594.1 million valued at the acquisition date fair value of $25.86 per share.

American National operated 33 branches across Nebraska, Minnesota and Iowa, with a concentration in the Greater Omaha and Minneapolis / St. Paul metro markets. As a result of the acquisition, the Corporation increased its deposit market share and is delivering its products and services to an expanded client base across Midwest markets.

The acquisition of American National has been accounted for as a business combination using the acquisition method of accounting in accordance with FASB ASC Topic 805, Business Combinations. Accordingly, assets acquired and liabilities assumed were recorded at fair value as of the acquisition date. Fair value estimates related to the assets and liabilities from American National are subject to adjustment for up to one year after the closing date of the acquisition as additional information becomes available. The purchase consideration allocation is considered preliminary as certain estimates related to the assets acquired and liabilities assumed are subject to continuing refinement. Valuations subject to refinement include, but are not limited to, loans, certain deposits, certain other assets, and the core deposit intangible asset.

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The following table presents the estimated fair values of the assets acquired and liabilities assumed as of the effective date of the American National acquisition.

(in thousands)						April 1, 2026
Total Consideration						$	594,144
Assets
Cash and cash equivalents						$	220,898
Investment securities						989,925
Loans, net						3,716,472
Other intangible assets(a)						103,200
Other assets						155,960
Total assets						$	5,186,455
Liabilities
Deposits						$	4,544,700
Other liabilities						89,700
Total liabilities						$	4,634,400
Fair value of net assets acquired						$	552,055
Goodwill						$	42,089
(a) Core deposit intangibles

The goodwill arising from the acquisition consists largely of the synergies and economies of scale expected from combining the operations of the Corporation with the former operations of American National. None of the goodwill is deductible for income tax purposes as the acquisition was accounted for as a tax-free exchange.

The Corporation engaged an independent, third-party valuation specialist to assist in the valuation of certain assets acquired and liabilities assumed from the business combination. The following valuation techniques were used in the valuation:

Investment securities: The fair value of AFS investment securities and equity securities was determined utilizing quoted prices in an active market, if available, or an external third party broker opinion of the market value.

Loans, net: Fair values of loans were based on a discounted cash flow methodology that considered factors including the type of loan, related collateral, credit quality status, fixed or variable interest rate, term of loan, amortization status and current discount rates. For the non-credit (interest and liquidity) premium, loans were grouped together according to similar characteristics when applying various valuation techniques. For the credit discount, loans were also grouped based on whether they had more than insignificant deterioration in credit since origination. Purchased loans and leases that reflect a more-than-insignificant deterioration of credit from origination are considered purchase credit deteriorated (PCD) assets. All other loans acquired were deemed purchased seasoned loans (non-PCD). The initial estimate of expected credit losses, excluding credit card loans, was recognized in the ACLL on the date of acquisition using the same methodology as other loans and leases held-for-investment.

The following table includes the fair value and unpaid principal balance of the acquired loans and leases:

(in thousands)			Unpaid principal balance			Premium (Discount)			Loans and leases			Allowance for credit losses on loans			Loans and leases, net
Non-PCD loans			$	3,185,647		$	2,692		$	3,188,339		$	(28,263)		$	3,160,076
PCD Loans			615,403			(19,495)			595,908			(39,512)			556,396
Total			$	3,801,050		$	(16,803)		$	3,784,247		$	(67,775)		$	3,716,472

Core Deposit Intangibles: This intangible asset represents the value of the relationships with deposit customers. The fair value is estimated based on a discounted cash flow methodology that gave appropriate consideration to expected customer attrition rates, net maintenance cost of the deposit base, alternative cost of funds, and the interest costs associated with customer deposits. The CDIs will be amortized utilizing the sum of years digits basis.

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Time Deposits: The fair value for time deposits is estimated using a discounted cash flow calculation that applies interest rates currently being offered to the contractual interest rates on such time deposits.

The Corporation's operating results include operating results from American National for the six months ended September 30, 2026. Due to the integration of operating activities into those of the Corporation, bifurcation and reporting of revenues and net income from the former American National operations is impracticable. In addition, such amounts would require significant estimates related to the proper allocation of merger cost savings that cannot be objectively made. The following table presents merger related costs, and the line item that these costs are included in on the consolidated statement of income, for the three and nine months ended September 30, 2026. Additional transaction and integration costs will be expensed in future periods as incurred.

(in thousands)			Three Months Ended September 30, 2026			Nine Months Ended Sep 30, 2026
Personnel			$	723		$	14,087
Technology			9,039			9,820
Occupancy			503			606
Business development and advertising			862			1,516
Equipment			102			200
Legal and professional			2,029			12,282
Other			—			223
Total			$	13,258		$	38,734

Pro Forma Financial Information

The following unaudited pro forma summary presents consolidated information of the Corporation as if the American National acquisition had occurred on January 1, 2025. The amounts do not reflect anticipated operating cost savings, revenue enhancements, or other synergies expected to result from the acquisition. Actual results may differ from the unaudited pro forma information presented.

			Three Months Ended Sep 30,						Nine Months Ended Sep 30,
(Unaudited) (in thousands)			2026			2025			2026			2025
Net interest income and noninterest income			$	462,635		$	437,119		$	1,344,241		$	1,244,017
Net income			155,546			135,670			417,656			337,274

The pro forma adjustments include the effect of excluding acquisition-related expenses of $38.7 million for the nine months ended September 30, 2026 and included such expenses in the nine months ended September 30, 2025. These adjustments also include adjusting amortization and accretion of fair value marks on acquired loans, investments, deposits, intangibles, other assets/liabilities, and the effect of income taxes.

Note 4 Earnings Per Common Share

Earnings per common share are calculated utilizing the two-class method. Basic earnings per common share are calculated by dividing the sum of distributed earnings to common shareholders and undistributed earnings allocated to common shareholders by the weighted average number of common shares outstanding. Diluted earnings per common share are calculated by dividing the sum of distributed earnings to common shareholders and undistributed earnings allocated to common shareholders by the weighted average number of common shares outstanding adjusted for the dilutive effect of common stock awards (outstanding stock options and unvested restricted stock awards). Presented below are the calculations for basic and diluted earnings per common share:

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			Three Months Ended Sep 30,						Nine Months Ended Sep 30,
(in thousands, except per share data)			2026			2025			2026			2025
Net income			$	146,586		$	124,732		$	389,785		$	337,648
Preferred stock dividends			(2,875)			(2,875)			(8,625)			(8,625)
Net income available to common equity			143,711			121,857			381,160			329,023
Common shareholder dividends			(45,073)			(38,340)			(130,651)			(114,977)
Unvested share-based payment awards			(105)			(190)			(325)			(590)
Undistributed earnings			$	98,533		$	83,326		$	250,184		$	213,457
Undistributed earnings allocated to common shareholders			$	98,311		$	82,913		$	249,505		$	212,415
Undistributed earnings allocated to unvested share-based payment awards			222			413			679			1,042
Undistributed earnings			$	98,533		$	83,326		$	250,184		$	213,457
Basic
Distributed earnings to common shareholders			$	45,073		$	38,340		$	130,651		$	114,977
Undistributed earnings allocated to common shareholders			98,311			82,913			249,505			212,415
Total common shareholders earnings, basic			$	143,384		$	121,253		$	380,156		$	327,392
Diluted
Distributed earnings to common shareholders			$	45,073		$	38,340		$	130,651		$	114,977
Undistributed earnings allocated to common shareholders			98,311			82,913			249,505			212,415
Total common shareholders earnings, diluted			$	143,384		$	121,253		$	380,156		$	327,392
Weighted average common shares outstanding			186,685			165,029			180,034			165,064
Effect of dilutive common stock awards			1,815			1,674			1,748			1,581
Diluted weighted average common shares outstanding			188,500			166,703			181,782			166,645
Basic earnings per common share			$	0.77		$	0.73		$	2.11		$	1.98
Diluted earnings per common share			$	0.76		$	0.73		$	2.09		$	1.96

Excluded from the earnings per common share calculations were nominal amounts and 0.2 million anti-dilutive common stock options for the three months ended September 30, 2026 and 2025, respectively, and nominal amounts and 0.8 million anti-dilutive common stock options for the nine months ended September 30, 2026 and 2025, respectively.

Note 5 Stock-Based Compensation

The fair values of stock options and restricted stock are amortized as compensation expense on a straight-line basis over the vesting period of the grants. For colleagues who meet the definition of retirement eligible under the 2020 Incentive Compensation Plan and 2025 Equity Incentive Plan (collectively, the Incentive Plans), expenses related to stock options and restricted stock grants are fully recognized on the date the colleague meets the definition of normal or early retirement. Compensation expense recognized is included in personnel expense on the consolidated statements of income.

A summary of the Corporation’s stock option activity for the nine months ended September 30, 2026 is presented below:

Stock Options			Shares(a)			Weighted Average Exercise Price			Weighted Average Remaining Contractual Term			Aggregate Intrinsic Value(a)
Outstanding at December 31, 2025			1,460			$	22.71		2.52 years			$	4,483
Exercised			603			23.66
Outstanding at September 30, 2026			857			$	22.04		2.29 years			$	5,661
Options Exercisable at September 30, 2026			857			$	22.04		2.29 years			$	5,661

(a) In thousands

Intrinsic value represents the amount by which the fair market value of the underlying stock exceeds the exercise price of the stock option. For the nine months ended September 30, 2026, the intrinsic value of stock options exercised was $3.6 million, compared to $1.0 million for the nine months ended September 30, 2025. All stock options were vested as of December 31, 2025.

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The Corporation has issued service-based and performance-based restricted stock grants, in the form of awards and units, under the Incentive Plans. Service-based awards are contingent upon continued employment or meeting the requirements for retirement. Performance-based awards are based on performance goals determined by the Compensation and Benefits Committee of the Corporation's Board of Directors, with vesting ranging from a minimum of 0% to a maximum of 150% of the target award. Performance awards are valued utilizing a Monte Carlo simulation model to estimate fair value of the awards at the grant date.

The following table summarizes information about the Corporation’s restricted stock activity for the nine months ended September 30, 2026:

Restricted Stock			Shares(a)			Weighted Average Grant Date Fair Value
Outstanding at December 31, 2025			2,372			$	22.02
Granted			903			26.43
Vested			967			21.70
Forfeited			67			24.44
Outstanding at September 30, 2026			2,241			$	23.86

(a) In thousands

The Corporation amortizes the expense related to restricted stock awards as compensation expense over the vesting period specified in the grant's award agreement. Performance-based restricted stock granted during 2025 and 2026 will cliff-vest after the three year performance period has ended. Service-based restricted stock granted during 2025 and 2026 will generally vest ratably over a period of four years. Expense for restricted stock of $14.7 million and $15.0 million was recorded for the nine months ended September 30, 2026 and September 30, 2025, respectively. Included in compensation expense for the accelerated vesting of restricted stock granted to colleagues meeting applicable retirement eligibility criteria per the related plan documents was $4.5 million and $4.5 million of expense in the first nine months of 2026 and 2025, respectively. The Corporation had $24.2 million of unrecognized compensation costs related to restricted stock at September 30, 2026 that are expected to be recognized over the remaining requisite service periods that extend through the first quarter of 2030.

The Corporation has the ability to issue shares from treasury or new shares upon the exercise of stock options or the granting of restricted stock. The Board of Directors has authorized management to repurchase shares of the Corporation’s common stock, to be made available for issuance in connection with the Corporation’s employee incentive plans and for other corporate purposes. The repurchase of shares, if any, will be based on market and investment opportunities, capital levels, growth prospects, and regulatory constraints. Such repurchases may occur from time to time in open market purchases, block transactions, private transactions, accelerated share repurchase programs, or similar facilities.

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Note 6 Investment Securities

Investment securities are designated as AFS, HTM, or equity on the consolidated balance sheets. The amortized cost and fair values of AFS and HTM securities at September 30, 2026 were as follows:

(in thousands)			Amortized Cost			Gross Unrealized Gains			Gross Unrealized Losses			Fair Value
AFS investment securities
Obligations of state and political subdivisions (municipal securities)			$	6,849		$	—		$	(457)		$	6,392
Residential mortgage-related securities:
FNMA/FHLMC			146,337			106			(11,979)			134,464
GNMA			5,542,393			317			(190,604)			5,352,106
Commercial mortgage-related securities:
FNMA/FHLMC			369,363			—			(21,964)			347,399
GNMA			111,099			—			(8,236)			102,863
Asset backed securities:
FFELP			86,587			34			(573)			86,048
SBA			174,150			—			(9,648)			164,502
Other debt securities(a)			6,750			—			(1,696)			5,054
Total AFS investment securities			$	6,443,528		$	457		$	(245,157)		$	6,198,828
HTM investment securities
U.S. Treasury securities			$	997		$	—		$	(4)		$	993
Obligations of state and political subdivisions (municipal securities)			1,576,827			44			(272,110)			1,304,761
Residential mortgage-related securities:
FNMA/FHLMC			771,047			—			(172,347)			598,700
GNMA			36,181			—			(4,547)			31,634
Private-label			284,928			—			(60,012)			224,916
Commercial mortgage-related securities:
FNMA/FHLMC			752,924			—			(143,020)			609,904
GNMA			39,316			—			(5,342)			33,974
Total HTM investment securities			$	3,462,220		$	44		$	(657,382)		$	2,804,882

(a)Unrealized losses includes allowance for credit losses

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The amortized cost and fair values of AFS and HTM securities at December 31, 2025 were as follows:

(in thousands)			Amortized Cost			Gross Unrealized Gains			Gross Unrealized Losses			Fair Value
AFS investment securities
Obligations of state and political subdivisions (municipal securities)			$	3,063		$	1		$	(20)		$	3,044
Residential mortgage-related securities:
FNMA/FHLMC			134,142			1,214			(5,493)			129,863
GNMA			5,000,015			40,067			(253)			5,039,829
Commercial mortgage-related securities:
FNMA/FHLMC			17,959			—			(1,001)			16,958
GNMA			113,374			—			(3,818)			109,556
Asset backed securities:
FFELP			95,977			19			(950)			95,046
SBA			283			—			(14)			269
Other debt securities			3,000			—			(2)			2,998
Total AFS investment securities			$	5,367,813		$	41,301		$	(11,551)		$	5,397,563
HTM investment securities
U.S. Treasury securities			$	996		$	19		$	—		$	1,015
Obligations of state and political subdivisions (municipal securities)			1,628,088			3,070			(123,856)			1,507,302
Residential mortgage-related securities:
FNMA/FHLMC			823,630			165			(127,333)			696,462
GNMA			39,123			82			(2,321)			36,884
Private-label			302,817			—			(43,990)			258,827
Commercial mortgage-related securities:
FNMA/FHLMC			763,370			—			(113,004)			650,366
GNMA			44,552			152			(4,566)			40,138
Total HTM investment securities			$	3,602,576		$	3,488		$	(415,070)		$	3,190,994

Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. The expected maturities of AFS and HTM securities at September 30, 2026, are shown below:

			AFS						HTM
(in thousands)			Amortized Cost			Fair Value			Amortized Cost			Fair Value
Due in one year or less			$	4,750		$	3,059		$	7,118		$	7,080
Due after one year through five years			6,243			6,002			90,248			87,290
Due after five years through ten years			—			—			333,317			302,799
Due after ten years			2,606			2,385			1,147,141			908,585
Total municipal, U.S. Treasury and other debt securities			13,599			11,446			1,577,824			1,305,754
Residential mortgage-related securities:
FNMA/FHLMC			146,337			134,464			771,047			598,700
GNMA			5,542,393			5,352,106			36,181			31,634
Private-label			—			—			284,928			224,916
Commercial mortgage-related securities:
FNMA/FHLMC			369,363			347,399			752,924			609,904
GNMA			111,099			102,863			39,316			33,974
Asset backed securities:
FFELP			86,587			86,048			—			—
SBA			174,150			164,502			—			—
Total investment securities			$	6,443,528		$	6,198,828		$	3,462,220		$	2,804,882
Ratio of fair value to amortized cost						96.2		%				81.0		%

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Investment securities with a carrying value of $1.0 billion at September 30, 2026 and $1.2 billion at December 31, 2025, respectively, were pledged as required to secure certain deposits or for other purposes.

Accrued interest receivable on HTM securities totaled $14.6 million and $17.7 million at September 30, 2026 and December 31, 2025, respectively. Accrued interest receivable on AFS securities totaled $25.0 million and $23.0 million at September 30, 2026 and December 31, 2025, respectively. Accrued interest receivable on both HTM and AFS securities is included in interest receivable on the consolidated balance sheets.

The Corporation holds U.S. Treasury, municipal, and mortgage-related securities issued by the U.S. government or a GSE which are backed by the full faith and credit of the U.S. government or are GSE guaranteed. The Corporation also holds private-label residential mortgage-related securities that have credit enhancement which covers the first 16% of losses and, as a result, no allowance for credit losses has been recorded related to these securities.

There was a $0.1 million allowance for credit losses on HTM securities at September 30, 2026 and $0.1 million at December 31, 2025, attributable entirely to the Corporation's municipal securities, included in HTM investment securities, net, at amortized cost on the consolidated balance sheets. The allowance for credit losses on AFS securities was $1.7 million at September 30, 2026 and zero at December 31, 2025, attributable to a corporate bond acquired through the recent acquisition of American National, included in other debt securities within the AFS investment securities, net, caption on the consolidated balance sheets.

The following represents gross unrealized losses and the related fair value of AFS and HTM securities, aggregated by investment category and length of time individual securities have been in a continuous unrealized loss position, at September 30, 2026:

			Less than 12 months									12 months or more									Total
(in thousands)			Number of Securities			Unrealized Losses			Fair Value			Number of Securities			Unrealized Losses			Fair Value			Unrealized Losses			Fair Value
AFS investment securities
Obligations of state and political subdivisions (municipal securities)			8			$	(441)		$	6,158		1			$	(16)		$	234		$	(457)		$	6,392
Residential mortgage-related securities:
FNMA/FHLMC			62			(4,607)			84,740			8			(7,372)			44,429			(11,979)			129,169
GNMA			384			(190,401)			5,247,698			3			(203)			2,669			(190,604)			5,250,367
Commercial mortgage-related securities:
FNMA/FHLMC			9			(20,066)			331,626			1			(1,898)			15,773			(21,964)			347,399
GNMA			—			—			—			15			(8,236)			102,864			(8,236)			102,864
Asset backed securities:
FFELP			1			(34)			5,618			12			(539)			50,269			(573)			55,887
SBA			9			(9,641)			164,402			2			(7)			99			(9,648)			164,501
Other debt securities(a)			3			(1,696)			4,054			—			—			—			(1,696)			4,054
Total			476			$	(226,886)		$	5,844,296		42			$	(18,271)		$	216,337		$	(245,157)		$	6,060,633
HTM investment securities
U.S. Treasury securities			1			$	(4)		$	994		—			$	—		$	—		$	(4)		$	994
Obligations of state and political subdivisions (municipal securities)			636			$	(68,956)		$	755,193		408			$	(203,154)		$	539,761		$	(272,110)		$	1,294,954
Residential mortgage-related securities:
FNMA/FHLMC			21			(1,262)			20,955			99			(171,085)			577,745			(172,347)			598,700
GNMA			7			(555)			7,473			78			(3,992)			24,161			(4,547)			31,634
Private-label			—			—			—			18			(60,012)			224,916			(60,012)			224,916
Commercial mortgage-related securities:
FNMA/FHLMC			2			(1,985)			24,674			43			(141,035)			585,230			(143,020)			609,904
GNMA			—			—			—			13			(5,342)			33,974			(5,342)			33,974
Total			667			$	(72,762)		$	809,289		659			$	(584,620)		$	1,985,787		$	(657,382)		$	2,795,076

(a)Unrealized losses includes allowance for credit losses

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For comparative purposes, the following represents gross unrealized losses and the related fair value of AFS and HTM securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at December 31, 2025:

			Less than 12 months									12 months or more									Total
(in thousands)			Number of Securities			Unrealized Losses			Fair Value			Number of Securities			Unrealized Losses			Fair Value			Unrealized Losses			Fair Value
AFS investment securities
Obligations of state and political subdivisions (municipal securities)			—			$	—		$	—		2			$	(20)		$	863		$	(20)		$	863
Residential mortgage-related securities:
FNMA/FHLMC			12			(95)			14,155			12			(5,398)			56,215			(5,493)			70,370
GNMA			16			(232)			143,734			3			(21)			2,674			(253)			146,408
Commercial mortgage-related securities:
FNMA/FHLMC			—			—			—			1			(1,001)			16,958			(1,001)			16,958
GNMA			—			—			—			15			(3,818)			109,556			(3,818)			109,556
Asset backed securities:
FFELP			2			(152)			33,239			12			(798)			55,565			(950)			88,804
SBA			—			—			—			2			(14)			231			(14)			231
Other debt securities			2			(2)			1,998			—			—			—			(2)			1,998
Total			32			$	(481)		$	193,126		47			$	(11,070)		$	242,062		$	(11,551)		$	435,188
HTM investment securities
Obligations of state and political subdivisions (municipal securities)			81			$	(2,978)		$	89,826		543			$	(120,878)		$	842,485		$	(123,856)		$	932,311
Residential mortgage-related securities:
FNMA/FHLMC			1			—			30			102			(127,333)			676,915			(127,333)			676,945
GNMA			—			—			—			80			(2,321)			30,237			(2,321)			30,237
Private-label			—			—			—			18			(43,990)			258,827			(43,990)			258,827
Commercial mortgage-related securities:
FNMA/FHLMC			2			(470)			26,287			43			(112,534)			624,079			(113,004)			650,366
GNMA			—			—			—			13			(4,566)			40,138			(4,566)			40,138
Total			84			$	(3,448)		$	116,143		799			$	(411,622)		$	2,472,681		$	(415,070)		$	2,588,824

On a quarterly basis, the Corporation refreshes the credit quality of each HTM security. The Company monitors the credit quality of HTM securities through credit ratings provided by S&P and Moody’s. Investment grade securities are rated BBB- or higher by S&P, or Baa3 or higher by Moody’s, and are generally considered by the rating agencies and market participants to be of low credit risk. As of September 30, 2026 and December 31, 2025, the Corporation's HTM portfolio contained all investment grade securities except for securities that were not rated which were individually reviewed noting no credit quality issues.

Based on the Corporation’s evaluation, management does not believe any unrealized losses at September 30, 2026 represent credit deterioration as these unrealized losses are primarily attributable to changes in interest rates and the current market conditions, except as disclosed above. As of September 30, 2026, the Corporation does not intend to sell, nor does it believe that it will be required to sell, the securities in an unrealized loss position before recovery of their amortized cost basis.

Regulatory stocks: The Corporation had FHLB stock of $188.4 million and $154.4 million at September 30, 2026 and December 31, 2025, respectively. The Corporation had Federal Reserve Bank stock of $115.9 million and $98.1 million at September 30, 2026 and December 31, 2025, respectively.

Accrued interest receivable on FHLB stock totaled $4.1 million at September 30, 2026 and $2.8 million at December 31, 2025. There was $1.7 million accrued interest receivable on Federal Reserve Bank Stock at September 30, 2026 and none at December 31, 2025. Accrued interest receivable on both FHLB stock and Federal Reserve Bank stock is included in interest receivable on the consolidated balance sheets.

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Equity Securities

Equity securities with readily determinable fair values: The Corporation's portfolio of equity securities with readily determinable fair values is primarily comprised of mutual funds. The Corporation had equity securities with readily determinable fair values of $15.0 million and $11.1 million at September 30, 2026 and December 31, 2025, respectively.

Equity securities without readily determinable fair values: The Corporation's portfolio of equity securities without readily determinable fair values primarily consists of an investment in a private loan fund. The Corporation had equity securities without readily determinable fair values carried at $15.0 million at both September 30, 2026 and December 31, 2025.

Note 7 Loans

The period end loan composition was as follows:

(in thousands)			Sep 30, 2026			Dec 31, 2025
Commercial and industrial			$	13,804,140		$	11,799,757
Commercial real estate — owner occupied			1,601,925			1,186,324
Commercial and business lending			15,406,065			12,986,081
Commercial real estate — investor			6,494,991			5,246,030
Real estate construction			2,601,571			1,994,642
Commercial real estate lending			9,096,562			7,240,672
Total commercial			24,502,627			20,226,753
Residential mortgage			6,740,214			6,793,957
Auto finance			4,093,215			3,106,498
Home equity			848,507			713,271
Other consumer			335,308			323,135
Total consumer			12,017,244			10,936,861
Total loans			$	36,519,871		$	31,163,614

Accrued interest receivable on loans totaled $138.3 million at September 30, 2026 and $117.6 million at December 31, 2025, and is included in interest receivable on the consolidated balance sheets. The amount of accrued interest reversed was $1.0 million for the three months ended September 30, 2026 and $1.8 million for the nine months ended September 30, 2026, compared to $0.5 million for the three months ended September 30, 2025 and $1.7 million for the nine months ended September 30, 2025.

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The following table presents loans by credit quality indicator by origination year at September 30, 2026:

									Term Loans Amortized Cost Basis by Origination Year(a)
(in thousands)			Rev Loans Converted to Term(a)			Rev Loans Amortized Cost Basis			YTD 2026			2025			2024			2023			2022			Prior			Total
Commercial and industrial:
Risk rating:
Pass			$	28,242		$	2,473,485		$	3,350,434		$	3,647,461		$	1,528,337		$	806,941		$	756,529		$	640,720		$	13,203,907
Special mention			—			13,538			464			99,393			6,419			6,326			3,766			30,956			160,862
Substandard			660			113,070			39,695			31,657			18,810			12,993			130,780			27,406			374,411
Nonaccrual			19			662			481			89			23,408			4,209			268			35,843			64,960
Commercial and industrial			$	28,921		$	2,600,755		$	3,391,074		$	3,778,600		$	1,576,974		$	830,469		$	891,343		$	734,925		$	13,804,140
Commercial real estate - owner occupied:
Risk rating:
Pass			$	106		$	180,904		$	219,020		$	240,585		$	196,660		$	134,447		$	182,095		$	348,796		$	1,502,507
Special mention			—			1,232			—			147			—			85			—			10,170			11,634
Substandard			—			23,013			1,712			7,951			19,505			16,493			41			17,411			86,126
Nonaccrual			—			—			355			—			—			—			614			689			1,658
Commercial real estate - owner occupied			$	106		$	205,149		$	221,087		$	248,683		$	216,165		$	151,025		$	182,750		$	377,066		$	1,601,925
Commercial and business lending:
Risk rating:
Pass			$	28,348		$	2,654,389		$	3,569,454		$	3,888,046		$	1,724,997		$	941,388		$	938,624		$	989,516		$	14,706,414
Special mention			—			14,770			464			99,540			6,419			6,411			3,766			41,126			172,496
Substandard			660			136,083			41,407			39,608			38,315			29,486			130,821			44,817			460,537
Nonaccrual			19			662			836			89			23,408			4,209			882			36,532			66,618
Commercial and business lending			$	29,027		$	2,805,904		$	3,612,161		$	4,027,283		$	1,793,139		$	981,494		$	1,074,093		$	1,111,991		$	15,406,065
Commercial real estate - investor:
Risk rating:
Pass			$	794		$	713,770		$	1,463,204		$	1,536,465		$	641,786		$	342,346		$	647,234		$	763,920		$	6,108,725
Special mention			—			628			130,641			281			3,055			17,399			57,943			28,026			237,973
Substandard			—			17,837			12,552			12,357			3,976			5,924			53,921			27,611			134,178
Nonaccrual			—			671			—			3,911			—			—			7,831			1,702			14,115
Commercial real estate - investor			$	794		$	732,906		$	1,606,397		$	1,553,014		$	648,817		$	365,669		$	766,929		$	821,259		$	6,494,991
Real estate construction:
Risk rating:
Pass			$	—		$	233,335		$	366,038		$	590,769		$	830,808		$	152,908		$	3,353		$	6,026		$	2,183,237
Special mention			—			2,406			19,880			—			35,091			—			30,185			—			87,562
Substandard			—			25,541			91,700			49,074			7,656			34,493			117,775			—			326,239
Nonaccrual			—			4,301			—			—			171			38			—			23			4,533
Real estate construction			$	—		$	265,583		$	477,618		$	639,843		$	873,726		$	187,439		$	151,313		$	6,049		$	2,601,571
Commercial real estate lending:
Risk rating:
Pass			$	794		$	947,105		$	1,829,242		$	2,127,234		$	1,472,594		$	495,254		$	650,587		$	769,946		$	8,291,962
Special mention			—			3,034			150,521			281			38,146			17,399			88,128			28,026			325,535
Substandard			—			43,378			104,252			61,431			11,632			40,417			171,696			27,611			460,417
Nonaccrual			—			4,972			—			3,911			171			38			7,831			1,725			18,648
Commercial real estate lending			$	794		$	998,489		$	2,084,015		$	2,192,857		$	1,522,543		$	553,108		$	918,242		$	827,308		$	9,096,562
Total commercial:
Risk rating:
Pass			$	29,142		$	3,601,494		$	5,398,696		$	6,015,280		$	3,197,591		$	1,436,642		$	1,589,211		$	1,759,462		$	22,998,376
Special mention			—			17,804			150,985			99,821			44,565			23,810			91,894			69,152			498,031
Substandard			660			179,461			145,659			101,039			49,947			69,903			302,517			72,428			920,954
Nonaccrual			19			5,634			836			4,000			23,579			4,247			8,713			38,257			85,266
Total commercial			$	29,821		$	3,804,393		$	5,696,176		$	6,220,140		$	3,315,682		$	1,534,602		$	1,992,335		$	1,939,299		$	24,502,627

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									Term Loans Amortized Cost Basis by Origination Year(a)
(in thousands)			Rev Loans Converted to Term(a)			Rev Loans Amortized Cost Basis			YTD 2026			2025			2024			2023			2022			Prior			Total
Residential mortgage:
Risk rating:
Pass			$	—		$	—		$	247,572		$	336,139		$	255,517		$	428,775		$	1,416,314		$	3,971,116		$	6,655,433
Special mention			—			—			—			—			—			20			—			162			182
Substandard			—			—			5,349			—			568			307			451			—			6,675
Nonaccrual			—			—			137			2,457			5,193			7,382			14,183			48,572			77,924
Residential mortgage			$	—		$	—		$	253,058		$	338,596		$	261,278		$	436,484		$	1,430,948		$	4,019,850		$	6,740,214
Auto finance:
Risk rating:
Pass			$	—		$	—		$	1,213,885		$	1,297,093		$	784,020		$	439,856		$	297,260		$	44,123		$	4,076,237
Special mention			—			—			382			984			1,009			851			760			121			4,107
Nonaccrual			—			—			531			2,328			2,825			3,411			3,114			662			12,871
Auto finance			$	—		$	—		$	1,214,798		$	1,300,405		$	787,854		$	444,118		$	301,134		$	44,906		$	4,093,215
Home equity:
Risk rating:
Pass			$	17,899		$	747,508		$	1,440		$	6,157		$	3,807		$	5,219		$	20,052		$	55,453		$	839,636
Special mention			668			304			—			200			517			118			85			327			1,551
Nonaccrual			891			341			—			52			240			209			1,164			5,314			7,320
Home equity			$	19,458		$	748,153		$	1,440		$	6,409		$	4,564		$	5,546		$	21,301		$	61,094		$	848,507
Other consumer:
Risk rating:
Pass			$	207		$	263,790		$	12,600		$	8,573		$	3,455		$	1,823		$	756		$	41,303		$	332,300
Special mention			49			900			13			—			13			55			5			—			986
Substandard			—			1,967			—			—			—			—			—			—			1,967
Nonaccrual			4			35			—			—			—			10			8			2			55
Other consumer			$	260		$	266,692		$	12,613		$	8,573		$	3,468		$	1,888		$	769		$	41,305		$	335,308
Total consumer:
Risk rating:
Pass			$	18,106		$	1,011,298		$	1,475,497		$	1,647,962		$	1,046,799		$	875,673		$	1,734,382		$	4,111,995		$	11,903,606
Special mention			717			1,204			395			1,184			1,539			1,044			850			610			6,826
Substandard			—			1,967			5,349			—			568			307			451			—			8,642
Nonaccrual			895			376			668			4,837			8,258			11,012			18,469			54,550			98,170
Total consumer			$	19,718		$	1,014,845		$	1,481,909		$	1,653,983		$	1,057,164		$	888,036		$	1,754,152		$	4,167,155		$	12,017,244
Total loans:
Risk rating:
Pass			$	47,248		$	4,612,792		$	6,874,193		$	7,663,242		$	4,244,390		$	2,312,315		$	3,323,593		$	5,871,457		$	34,901,982
Special mention			717			19,008			151,380			101,005			46,104			24,854			92,744			69,762			504,857
Substandard			660			181,428			151,008			101,039			50,515			70,210			302,968			72,428			929,596
Nonaccrual			914			6,010			1,504			8,837			31,837			15,259			27,182			92,807			183,436
Total loans			$	49,539		$	4,819,238		$	7,178,085		$	7,874,123		$	4,372,846		$	2,422,638		$	3,746,487		$	6,106,454		$	36,519,871

(a) Revolving loans converted to term loans are those converted during the reporting period and are also reported in their year of origination.

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The following table presents loans by credit quality indicator by origination year at December 31, 2025:

									Term Loans Amortized Cost Basis by Origination Year(a)
(in thousands)			Rev Loans Converted to Term(a)			Rev Loans Amortized Cost Basis			2025			2024			2023			2022			2021			Prior			Total
Commercial and industrial:
Risk rating:
Pass			$	503		$	1,920,351		$	3,886,880		$	2,097,760		$	1,133,873		$	1,238,941		$	521,793		$	471,834		$	11,271,432
Special mention			—			11,139			3,024			311			13,774			5,849			24,971			293			59,361
Substandard			7,290			65,451			60,593			78,773			22,126			162,841			70,231			1,771			461,786
Nonaccrual			1,473			—			25			7,153			—			—			—			—			7,178
Commercial and industrial			$	9,266		$	1,996,941		$	3,950,522		$	2,183,997		$	1,169,773		$	1,407,631		$	616,995		$	473,898		$	11,799,757
Commercial real estate - owner occupied:
Risk rating:
Pass			$	—		$	2,957		$	241,141		$	180,867		$	141,254		$	167,496		$	157,837		$	201,588		$	1,093,140
Special mention			—			—			—			11,620			5,432			—			—			1,242			18,294
Substandard			—			13,445			7,478			14,001			15,635			1,691			11,929			10,508			74,687
Nonaccrual			—			—			203			—			—			—			—			—			203
Commercial real estate - owner occupied			$	—		$	16,402		$	248,822		$	206,488		$	162,321		$	169,187		$	169,766		$	213,338		$	1,186,324
Commercial and business lending:
Risk rating:
Pass			$	503		$	1,923,308		$	4,128,021		$	2,278,627		$	1,275,127		$	1,406,437		$	679,630		$	673,422		$	12,364,572
Special mention			—			11,139			3,024			11,931			19,206			5,849			24,971			1,535			77,655
Substandard			7,290			78,896			68,071			92,774			37,761			164,532			82,160			12,279			536,473
Nonaccrual			1,473			—			228			7,153			—			—			—			—			7,381
Commercial and business lending			$	9,266		$	2,013,343		$	4,199,344		$	2,390,485		$	1,332,094		$	1,576,818		$	786,761		$	687,236		$	12,986,081
Commercial real estate - investor:
Risk rating:
Pass			$	3,195		$	185,825		$	1,842,395		$	776,187		$	503,511		$	711,947		$	432,442		$	503,468		$	4,955,775
Special mention			—			—			40,067			11,135			14,809			58,523			26,964			5,007			156,505
Substandard			—			—			24,090			1,446			7,741			70,608			17,633			3,921			125,439
Nonaccrual			—			—			—			546			—			7,765			—			—			8,311
Commercial real estate - investor			$	3,195		$	185,825		$	1,906,552		$	789,314		$	526,061		$	848,843		$	477,039		$	512,396		$	5,246,030
Real estate construction:
Risk rating:
Pass			$	—		$	33,847		$	359,610		$	720,429		$	223,239		$	175,056		$	2,991		$	5,768		$	1,520,940
Special mention			—			—			20,611			—			—			51,262			—			—			71,873
Substandard			—			—			122,320			42,511			48,980			187,874			—			—			401,685
Nonaccrual			—			—			—			—			—			—			—			144			144
Real estate construction			$	—		$	33,847		$	502,541		$	762,940		$	272,219		$	414,192		$	2,991		$	5,912		$	1,994,642
Commercial real estate lending:
Risk rating:
Pass			$	3,195		$	219,672		$	2,202,005		$	1,496,616		$	726,750		$	887,003		$	435,433		$	509,236		$	6,476,715
Special mention			—			—			60,678			11,135			14,809			109,785			26,964			5,007			228,378
Substandard			—			—			146,410			43,957			56,721			258,482			17,633			3,921			527,124
Nonaccrual			—			—			—			546			—			7,765			—			144			8,455
Commercial real estate lending			$	3,195		$	219,672		$	2,409,093		$	1,552,254		$	798,280		$	1,263,035		$	480,030		$	518,308		$	7,240,672

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									Term Loans Amortized Cost Basis by Origination Year(a)
(in thousands)			Rev Loans Converted to Term(a)			Rev Loans Amortized Cost Basis			2025			2024			2023			2022			2021			Prior			Total
Total commercial:
Risk rating:
Pass			$	3,698		$	2,142,980		$	6,330,026		$	3,775,243		$	2,001,877		$	2,293,440		$	1,115,063		$	1,182,658		$	18,841,287
Special mention			—			11,139			63,702			23,066			34,015			115,634			51,935			6,542			306,033
Substandard			7,290			78,896			214,481			136,731			94,482			423,014			99,793			16,200			1,063,597
Nonaccrual			1,473			—			228			7,699			—			7,765			—			144			15,836
Total commercial			$	12,461		$	2,233,015		$	6,608,437		$	3,942,739		$	2,130,374		$	2,839,853		$	1,266,791		$	1,205,544		$	20,226,753
Residential mortgage:
Risk rating:
Pass			$	—		$	—		$	253,364		$	238,787		$	480,076		$	1,488,335		$	1,499,223		$	2,764,379		$	6,724,164
Substandard			—			—			—			580			292			129			300			—			1,301
Nonaccrual			—			—			2,425			3,102			5,101			13,141			8,985			35,738			68,492
Residential mortgage			$	—		$	—		$	255,789		$	242,469		$	485,469		$	1,501,605		$	1,508,508		$	2,800,117		$	6,793,957
Auto finance:
Risk rating:
Pass			$	—		$	—		$	1,287,267		$	842,838		$	551,549		$	388,064		$	26,402		$	2		$	3,096,122
Special mention			—			—			295			325			814			621			50			—			2,105
Nonaccrual			—			—			559			1,356			2,811			3,255			290			—			8,271
Auto finance			$	—		$	—		$	1,288,121		$	844,519		$	555,174		$	391,940		$	26,742		$	2		$	3,106,498
Home equity:
Risk rating:
Pass			$	15,259		$	623,853		$	855		$	2,188		$	2,728		$	20,514		$	4,733		$	49,793		$	704,664
Special mention			315			52			—			119			190			104			—			368			833
Nonaccrual			1,038			173			2			221			333			1,016			414			5,615			7,774
Home equity			$	16,612		$	624,078		$	857		$	2,528		$	3,251		$	21,634		$	5,147		$	55,776		$	713,271
Other consumer:
Risk rating:
Pass			$	529		$	255,490		$	13,159		$	4,070		$	1,990		$	958		$	264		$	43,575		$	319,506
Special mention			12			1,139			27			—			5			9			—			20			1,200
Substandard			—			2,374			—			—			—			—			—			—			2,374
Nonaccrual			2			35			—			3			12			—			2			3			55
Other consumer			$	543		$	259,038		$	13,186		$	4,073		$	2,007		$	967		$	266		$	43,598		$	323,135
Total consumer:
Risk rating:
Pass			$	15,788		$	879,343		$	1,554,645		$	1,087,883		$	1,036,343		$	1,897,871		$	1,530,622		$	2,857,749		$	10,844,456
Special mention			327			1,191			322			444			1,009			734			50			388			4,138
Substandard			—			2,374			—			580			292			129			300			—			3,675
Nonaccrual			1,040			208			2,986			4,682			8,257			17,412			9,691			41,356			84,592
Total consumer			$	17,155		$	883,116		$	1,557,953		$	1,093,589		$	1,045,901		$	1,916,146		$	1,540,663		$	2,899,493		$	10,936,861
Total loans:
Risk rating:
Pass			$	19,486		$	3,022,323		$	7,884,671		$	4,863,126		$	3,038,220		$	4,191,311		$	2,645,685		$	4,040,407		$	29,685,743
Special mention			327			12,330			64,024			23,510			35,024			116,368			51,985			6,930			310,171
Substandard			7,290			81,270			214,481			137,311			94,774			423,143			100,093			16,200			1,067,272
Nonaccrual			2,513			208			3,214			12,381			8,257			25,177			9,691			41,500			100,428
Total loans			$	29,616		$	3,116,131		$	8,166,390		$	5,036,328		$	3,176,275		$	4,755,999		$	2,807,454		$	4,105,037		$	31,163,614

(a) Revolving loans converted to term loans are those converted during the reporting period and are also reported in their year of origination.

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The following table presents gross charge offs by origination year for the nine months ended September 30, 2026:

									Gross Charge Offs by Origination Year
(in thousands)						Rev Loans Amortized Cost Basis			2026			2025			2024			2023			2022			Prior			Total
Commercial and industrial						$	15,083		$	135		$	14,181		$	407		$	715		$	425		$	9,887		$	40,833
Commercial real estate-owner occupied						—			—			—			—			—			—			—			—
Commercial and business lending						15,083			135			14,181			407			715			425			9,887			40,833
Commercial real estate-investor						—			—			—			—			—			—			2,710			2,710
Real estate construction						—			—			—			—			—			—			—			—
Commercial real estate lending						—			—			—			—			—			—			2,710			2,710
Total commercial						15,083			135			14,181			407			715			425			12,597			43,543
Residential mortgage						—			3			5			139			85			41			108			381
Auto finance						—			560			2,584			1,889			2,769			2,589			371			10,762
Home equity						1			—			60			—			2			13			328			404
Other consumer						5,822			11			154			47			47			18			38			6,137
Total consumer						5,823			574			2,803			2,075			2,903			2,661			845			17,684
Total gross charge offs						$	20,906		$	709		$	16,984		$	2,482		$	3,618		$	3,086		$	13,442		$	61,227

The following table presents gross charge offs by origination year for the year ended December 31, 2025:

									Gross Charge Offs by Origination Year
(in thousands)						Rev Loans Amortized Cost Basis			2025			2024			2023			2022			2021			Prior			Total
Commercial and industrial						$	5,424		$	831		$	627		$	3,555		$	3,799		$	379		$	—		$	14,615
Commercial real estate-owner occupied						—			—			—			113			—			—			—			113
Commercial and business lending						5,424			831			627			3,668			3,799			379			—			14,728
Commercial real estate-investor						—			—			8,356			184			12,666			—			—			21,206
Real estate construction						—			—			—			—			—			—			—			—
Commercial real estate lending						—			—			8,356			184			12,666			—			—			21,206
Total commercial						5,424			831			8,983			3,852			16,465			379			—			35,934
Residential mortgage						—			—			115			209			320			74			430			1,148
Auto finance						—			432			1,699			2,804			3,384			433			—			8,752
Home equity						—			—			—			26			5			5			380			416
Other consumer						8,194			18			85			63			63			224			56			8,703
Total consumer						8,194			450			1,899			3,102			3,772			736			866			19,019
Total gross charge offs						$	13,618		$	1,281		$	10,882		$	6,954		$	20,237		$	1,115		$	866		$	54,953

Factors that are important to managing overall credit quality are sound loan underwriting and administration, systematic monitoring of existing loans and commitments, effective loan review on an ongoing basis, early identification of potential problems, and appropriate policies for ACLL, nonaccrual loans, and charge offs.

For commercial loans, management has determined the pass credit quality indicator to include credits exhibiting acceptable financial statements, cash flow, and leverage. If any risk exists, it is mitigated by the loan structure, collateral, monitoring, or control. For consumer loans, performing loans include credits performing in accordance with the original contractual terms.

Loans are considered past due if the required principal and interest payments have not been received as of the date such payments were due. Special mention credits have potential weaknesses that deserve management's close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the credit or in the credit position at some future date. Accruing loan modifications could be pass or special mention, depending on the risk rating on the loan. Substandard loans are considered inadequately protected by the current sound worth and paying capacity of the obligor or the collateral pledged, if any. These loans have a well-defined weakness, or weaknesses, which may jeopardize liquidation of the debt, and are characterized by the distinct possibility the Corporation will sustain some loss if the deficiencies are not corrected. Commercial loan relationships over $0.5 million in nonaccrual status, or that otherwise do not share similar risk characteristics with other loans, including those for which a debt restructuring is probable, are evaluated individually for expected credit losses. Commercial loans classified as special mention, substandard, and nonaccrual are reviewed at a minimum on a quarterly basis, while pass credits, which are performing rated credits, are generally reviewed on an annual basis or more frequently if the loan renewal is less than one year or if otherwise warranted.

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The recorded investment of consumer loans secured by residential real estate properties for which foreclosure proceedings are in process totaled $16.6 million and $20.1 million at September 30, 2026 and December 31, 2025, respectively.

The following table presents loans by past due status at September 30, 2026:

			Accruing
(in thousands)			Current			30-59 Days Past Due			60-89 Days Past Due			90+ Days Past Due			Nonaccrual(a)(b)			Total
Commercial and industrial			$	13,734,457		$	1,052		$	2,465		$	1,206		$	64,960		$	13,804,140
Commercial real estate - owner occupied			1,600,128			—			139			—			1,658			1,601,925
Commercial and business lending			15,334,585			1,052			2,604			1,206			66,618			15,406,065
Commercial real estate - investor			6,473,416			815			655			5,990			14,115			6,494,991
Real estate construction			2,596,005			577			456			—			4,533			2,601,571
Commercial real estate lending			9,069,421			1,392			1,111			5,990			18,648			9,096,562
Total commercial			24,404,006			2,444			3,715			7,196			85,266			24,502,627
Residential mortgage			6,642,025			19,863			182			220			77,924			6,740,214
Auto finance			4,034,162			42,075			4,107			—			12,871			4,093,215
Home equity			836,179			3,457			1,551			—			7,320			848,507
Other consumer(c)			330,858			1,378			1,004			2,013			55			335,308
Total consumer			11,843,224			66,773			6,844			2,233			98,170			12,017,244
Total loans			$	36,247,230		$	69,217		$	10,559		$	9,429		$	183,436		$	36,519,871

(a) Of the total nonaccrual loans, $84.4 million, or 46%, were current with respect to payment at September 30, 2026.

(b) No interest income was recognized on nonaccrual loans for the three and nine months ended September 30, 2026. In addition, there were $19.3 million of nonaccrual loans for which there was no related ACLL at September 30, 2026.

(c) Past due portions exclude guaranteed student loans.

The following table presents loans by past due status at December 31, 2025:

			Accruing
(in thousands)			Current			30-59 Days Past Due			60-89 Days Past Due			90+ Days  Past Due			Nonaccrual(a)(b)			Total
Commercial and industrial			$	11,789,526		$	2,153		$	530		$	370		$	7,178		$	11,799,757
Commercial real estate - owner occupied			1,186,087			—			34			—			203			1,186,324
Commercial and business lending			12,975,613			2,153			564			370			7,381			12,986,081
Commercial real estate - investor			5,218,314			14,148			5,257			—			8,311			5,246,030
Real estate construction			1,994,381			117			—			—			144			1,994,642
Commercial real estate lending			7,212,695			14,265			5,257			—			8,455			7,240,672
Total commercial			20,188,308			16,418			5,821			370			15,836			20,226,753
Residential mortgage			6,712,330			13,135			—			—			68,492			6,793,957
Auto finance			3,081,782			14,340			2,105			—			8,271			3,106,498
Home equity			701,719			2,945			833			—			7,774			713,271
Other consumer(c)			317,932			1,473			1,231			2,444			55			323,135
Total consumer			10,813,763			31,893			4,169			2,444			84,592			10,936,861
Total loans			$	31,002,071		$	48,311		$	9,990		$	2,814		$	100,428		$	31,163,614

(a) Of the total nonaccrual loans, $31.2 million, or 31%, were current with respect to payment at December 31, 2025.

(b) No interest income was recognized on nonaccrual loans for the year ended December 31, 2025. In addition, there were $14.6 million of nonaccrual loans for which there was no related ACLL at December 31, 2025

(c) Past due portions exclude guaranteed student loans.

Loan Modifications

The following tables show the composition of loan modifications made to borrowers experiencing financial difficulty by the loan portfolio and type of concessions granted. Each of the types of concessions granted comprised less than 1% of their respective classes of loan portfolios at September 30, 2026 and September 30, 2025.

			Interest Rate Concession
			Amortized Cost
			Three Months Ended Sep 30,						Nine Months Ended Sep 30,
(in thousands)			2026			2025			2026			2025
Commercial and industrial			$	110		$	210		$	257		$	417
Residential mortgage			41			139			41			139
Other consumer			675			750			1,665			1,891
Total loans modified			$	826		$	1,098		$	1,963		$	2,448

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			Term Extension
			Amortized Cost
			Three Months Ended Sep 30,						Nine Months Ended Sep 30,
(in thousands)			2026			2025			2026			2025
Residential mortgage			$	411		$	194		$	1,466		$	498

			Combination - Interest Rate Concession and Term Extension
			Amortized Cost
			Three Months Ended Sep 30,						Nine Months Ended Sep 30,
(in thousands)			2026			2025			2026			2025
Residential mortgage			$	1,992		$	1,815		$	5,446		$	3,903
Home equity			—			75			86			168
Total loans modified			$	1,992		$	1,889		$	5,532		$	4,071

The following tables summarize, by loan portfolio, the financial effect of the Corporation's loan modifications on the modified loans.

			Interest Rate Concession
			Financial Effect, Weighted Average Contractual Interest Rate (Decrease) Increase(a)
			Three Months Ended Sep 30,						Nine Months Ended Sep 30,
Loan Type			2026			2025			2026			2025
Commercial and industrial			(22)		%	(23)		%	(22)		%	(24)		%
Residential mortgage			1		%	1		%	1		%	1		%
Home equity			—		%	(3)		%	(2)		%	(2)		%
Other consumer			(21)		%	(22)		%	(21)		%	(21)		%
Weighted average of total loans modified			(5)		%	(6)		%	(5)		%	(7)		%

(a) Some interest rate concessions may involve an increase in rate that was lower in comparison to prevailing market rates.

Term Extension

Financial Effect, Weighted Average Term Increase(a)

Three Months Ended Sep 30,

Nine Months Ended Sep 30,

Loan Type

2026

2025

2026

2025

Residential mortgage

148 months

122 months

121 months

138 months

Home equity

0 months

60 months

131 months

60 months

Weighted average of total loans modified

148 months

120 months

121 months

135 months

(a) During the three months ended September 30, 2026 and September 30, 2025, term extensions changed the weighted average term on modified loans from 299 to 447 months and 294 to 414 months, respectively. During the nine months ended September 30, 2026 and September 30, 2025, term extensions changed the weighted average term on modified loans from 303 to 424 months and 281 to 416 months, respectively.

The Corporation closely monitors the performance of loans that are modified to borrowers experiencing financial difficulty to understand the effectiveness of its modification efforts. The following table depicts the performance of loans that have been modified in the twelve months ended September 30, 2026:

			Payment Status (Amortized Cost Basis)
(in thousands)			Current			30-89 Days Past Due			90+ Days Past Due
Commercial and industrial			$	301		$	—		$	—
Residential mortgage			6,085			1,965			867
Home equity			49			147			—
Other consumer			2,001			—			—
Total loans modified			$	8,436		$	2,112		$	867

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The following table depicts the performance of loans that have been modified in the twelve months ended September 30, 2025:

			Payment Status (Amortized Cost Basis)
(in thousands)			Current			30-89 Days Past Due			90+ Days Past Due
Commercial and industrial			$	458		$	—		$	—
Residential mortgage			4,424			880			433
Home equity			221			—			—
Other consumer			2,220			—			—
Total loans modified			$	7,324		$	880		$	433

The following table provides the amortized cost of loan modifications by loan portfolio and type of concession for loans that were modified in the previous twelve months and subsequently had a payment default during the nine months ended September 30, 2026:

			Amortized Cost of Loan Modifications that Subsequently Defaulted
(in thousands)			Interest Rate Concession			Term Extension			Combination Interest Rate Reduction and Term Extension
Residential mortgage			$	41		$	—		$	341

The following table provides the amortized cost of loan modifications by loan portfolio and type of concession for loans that were modified in the previous twelve months and subsequently had a payment default during the nine months ended September 30, 2025:

			Amortized Cost of Loan Modifications that Subsequently Defaulted
(in thousands)			Interest Rate Concession			Term Extension			Combination Interest Rate Reduction and Term Extension
Home equity			$	—		$	—		$	48

The nature and extent of the impairment of modified loans, including those which have experienced a subsequent payment default, are considered in the determination of an appropriate level of the ACLL.

Allowance for Credit Losses on Loans

The ACLL is comprised of the allowance for loan losses and the allowance for unfunded commitments. The level of the ACLL represents management’s estimate of an amount appropriate to provide for expected lifetime credit losses in the loan portfolio at the balance sheet date. The expected lifetime credit losses are the product of multiplying the Corporation's estimates of probability of default, loss given default, and the individual loan level exposure at default on an undiscounted basis. A main factor in the determination of the ACLL is the economic forecast. The forecast the Corporation used for September 30, 2026 was the Moody's baseline scenario from August 2026, which was reviewed against the September 2026 baseline scenario with no material updates made, over a two-year reasonable and supportable period with straight-line reversion to the historical losses over the second year of the period. The allowance for unfunded commitments is maintained at a level believed by management to be sufficient to absorb expected lifetime losses related to unfunded credit facilities (including unfunded loan commitments and letters of credit). See Note 12 for additional information on the change in the allowance for unfunded commitments.

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The following table presents a summary of the changes in the ACLL by portfolio segment for the nine months ended September 30, 2026:

(in thousands)			Dec 31, 2025			Provision for loan losses recorded at acquisition			Allowance for PCD loans acquired			Allowance for PSL acquired						Charge offs			Recoveries			Net (Charge offs) Recoveries			Provision for Credit Losses			Sep 30, 2026			ACLL / Loans
Allowance for loan losses
Commercial and industrial			$	168,636		$	294		$	19,514		$	5,086					$	(40,833)		$	7,879		$	(32,954)		$	43,073		$	203,649
Commercial real estate — owner occupied			11,327			—			2,516			1,198						—			—			—			(967)			14,074
Commercial and business lending			179,963			294			22,030			6,284						(40,833)			7,879			(32,954)			42,106			217,723
Commercial real estate — investor			58,243			—			11,640			7,590						(2,710)			500			(2,210)			(16,650)			58,613
Real estate construction			46,595			—			3,459			3,298						—			7			7			5,135			58,494
Commercial real estate lending			104,838			—			15,099			10,888						(2,710)			507			(2,203)			(11,515)			117,107
Total commercial			284,801			294			37,129			17,172						(43,543)			8,386			(35,157)			30,591			334,830
Residential mortgage			33,644			—			790			1,028						(381)			241			(140)			(1,140)			34,182
Auto finance			27,470			—			1,346			7,241						(10,762)			3,783			(6,979)			9,082			38,160
Home equity			16,343			—			174			2,058						(404)			1,002			598			(710)			18,463
Other consumer			15,810			103			73			764						(6,137)			1,699			(4,438)			3,177			15,489
Total consumer			93,267			103			2,383			11,091						(17,684)			6,725			(10,959)			10,409			106,294
Total loans			$	378,068		$	397		$	39,512		$	28,263					$	(61,227)		$	15,111		$	(46,116)		$	41,000		$	441,124
Allowance for unfunded commitments
Commercial and industrial			$	18,698		$	—		$	1,300		$	689					$	—		$	—		$	—		$	(1,966)		$	18,721
Commercial real estate — owner occupied			132			—			18			21						—			—			—			(25)			146
Commercial and business lending			18,830			—			1,318			710						—			—			—			(1,991)			18,867
Commercial real estate — investor			499			—			102			28						—			—			—			28			657
Real estate construction			17,947			—			2,169			901						—			—			—			5,563			26,580
Commercial real estate lending			18,446			—			2,271			929						—			—			—			5,591			27,237
Total commercial			37,276			—			3,589			1,639						—			—			—			3,600			46,104
Home equity			2,406			—			8			207						—			—			—			(43)			2,578
Other consumer			1,594			—			—			25						—			—			—			(557)			1,062
Total consumer			4,000			—			8			232						—			—			—			(600)			3,640
Total loans			$	41,276		$	—		$	3,597		$	1,871					$	—		$	—		$	—		$	3,000		$	49,744
Allowance for credit losses on loans
Commercial and industrial			$	187,334		$	294		$	20,814		$	5,775					$	(40,833)		$	7,879		$	(32,954)		$	41,107		$	222,370		1.61		%
Commercial real estate — owner occupied			11,459			—			2,534			1,219						—			—			—			(992)			14,220			0.89		%
Commercial and business lending			198,793			294			23,348			6,994						(40,833)			7,879			(32,954)			40,115			236,590			1.54		%
Commercial real estate — investor			58,742			—			11,742			7,618						(2,710)			500			(2,210)			(16,622)			59,270			0.91		%
Real estate construction			64,542			—			5,628			4,199						—			7			7			10,698			85,074			3.27		%
Commercial real estate lending			123,284			—			17,370			11,817						(2,710)			507			(2,203)			(5,924)			144,344			1.59		%
Total commercial			322,077			294			40,718			18,811						(43,543)			8,386			(35,157)			34,191			380,934			1.55		%
Residential mortgage			33,644			—			790			1,028						(381)			241			(140)			(1,140)			34,182			0.51		%
Auto finance			27,470			—			1,346			7,241						(10,762)			3,783			(6,979)			9,082			38,160			0.93		%
Home equity			18,749			—			182			2,265						(404)			1,002			598			(753)			21,041			2.48		%
Other consumer			17,404			103			73			789						(6,137)			1,699			(4,438)			2,620			16,551			4.94		%
Total consumer			97,267			103			2,391			11,323						(17,684)			6,725			(10,959)			9,809			109,934			0.91		%
Total loans			$	419,344		$	397		$	43,109		$	30,134					$	(61,227)		$	15,111		$	(46,116)		$	44,000		$	490,868		1.34		%

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The following table presents a summary of the changes in the ACLL by portfolio segment for the year ended December 31, 2025:

(in thousands)			Dec 31, 2024			Charge offs			Recoveries			Net (Charge offs) Recoveries									Provision for Credit Losses			Dec 31, 2025			ACLL / Loans
Allowance for loan losses
Commercial and industrial			$	136,596		$	(14,615)		$	8,357		$	(6,258)								$	38,298		$	168,636
Commercial real estate — owner occupied			9,417			(113)			—			(113)									2,023			11,327
Commercial and business lending			146,013			(14,728)			8,357			(6,371)									40,321			179,963
Commercial real estate — investor			71,547			(21,206)			2,985			(18,221)									4,917			58,243
Real estate construction			51,499			—			154			154									(5,058)			46,595
Commercial real estate lending			123,046			(21,206)			3,139			(18,067)									(141)			104,838
Total commercial			269,060			(35,934)			11,496			(24,438)									40,180			284,801
Residential mortgage			32,576			(1,148)			615			(533)									1,601			33,644
Auto finance			28,467			(8,752)			3,029			(5,723)									4,726			27,470
Home equity			16,620			(416)			999			583									(860)			16,343
Other consumer			16,823			(8,703)			1,837			(6,866)									5,853			15,810
Total consumer			94,486			(19,019)			6,480			(12,539)									11,320			93,267
Total loans			$	363,545		$	(54,953)		$	17,976		$	(36,977)								$	51,500		$	378,068
Allowance for unfunded commitments
Commercial and industrial			$	14,456		$	—		$	—		$	—								$	4,242		$	18,698
Commercial real estate — owner occupied			151			—			—			—									(19)			132
Commercial and business lending			14,607			—			—			—									4,223			18,830
Commercial real estate — investor			578			—			—			—									(79)			499
Real estate construction			19,591			—			—			—									(1,644)			17,947
Commercial real estate lending			20,169			—			—			—									(1,723)			18,446
Total commercial			34,776			—			—			—									2,500			37,276
Home equity			2,465			—			—			—									(59)			2,406
Other consumer			1,535			—			—			—									59			1,594
Total consumer			4,000			—			—			—									—			4,000
Total loans			$	38,776		$	—		$	—		$	—								$	2,500		$	41,276
Allowance for credit losses on loans
Commercial and industrial			$	151,052		$	(14,615)		$	8,357		$	(6,258)								$	42,540		$	187,334		1.59		%
Commercial real estate — owner occupied			9,568			(113)			—			(113)									2,004			11,459			0.97		%
Commercial and business lending			160,620			(14,728)			8,357			(6,371)									44,544			198,793			1.53		%
Commercial real estate — investor			72,125			(21,206)			2,985			(18,221)									4,838			58,742			1.12		%
Real estate construction			71,090			—			154			154									(6,702)			64,542			3.24		%
Commercial real estate lending			143,215			(21,206)			3,139			(18,067)									(1,864)			123,284			1.70		%
Total commercial			303,835			(35,934)			11,496			(24,438)									42,680			322,077			1.59		%
Residential mortgage			32,576			(1,148)			615			(533)									1,601			33,644			0.50		%
Auto finance			28,467			(8,752)			3,029			(5,723)									4,726			27,470			0.88		%
Home equity			19,085			(416)			999			583									(919)			18,749			2.63		%
Other consumer			18,358			(8,703)			1,837			(6,866)									5,912			17,404			5.39		%
Total consumer			98,486			(19,019)			6,480			(12,539)									11,320			97,267			0.89		%
Total loans			$	402,322		$	(54,953)		$	17,976		$	(36,977)								$	54,000		$	419,344		1.35		%

Note 8 Goodwill and Other Intangible Assets

Goodwill

The Corporation conducted its most recent annual impairment testing in May 2026, utilizing a qualitative assessment. Based on this assessment, management concluded that it is more likely than not that the estimated fair value exceeded the carrying value (including goodwill) for each reporting unit. Therefore, a step one quantitative analysis was not required. There have been no events since the May 2026 impairment test that have changed the Corporation's impairment assessment conclusion. There were no impairment charges recorded in the first nine months of 2025 or 2026.

The Corporation added $42.1 million goodwill related to the American National acquisition in the second quarter of 2026. The Corporation had goodwill of $1.1 billion at both September 30, 2026 and December 31, 2025.

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Core Deposit Intangibles

The Corporation has CDIs which are amortized. CDI recorded as part of the American National acquisition is amortized over ten years using the sum of digits method while prior acquisitions are amortized under the straight line method. Changes in the gross carrying amount, accumulated amortization, and net book value for CDIs were as follows:

(in thousands)			Nine Months Ended Sep 30, 2026			Year Ended Dec 31, 2025
Core deposit intangibles
Gross carrying amount at the beginning of period			$	88,109		$	88,109
Additions during the period			103,200			—
Accumulated amortization			(81,250)			(65,260)
Net book value			$	110,059		$	22,849
Amortization during the period			$	15,990		$	8,811

Mortgage Servicing Rights

A summary of changes in the balance of the MSRs asset under the fair value measurement method is as follows:

(in thousands)			Nine Months Ended Sep 30, 2026			Year Ended Dec 31, 2025
Mortgage servicing rights
Mortgage servicing rights at beginning of period			$	86,337		$	87,683
Additions			9,391			8,716
Decay			(7,479)			(8,621)
Valuation:
Changes in fair value of asset			6,670			(1,441)
Mortgage servicing rights at end of period			$	94,919		$	86,337
Portfolio of residential mortgage loans serviced for others (“servicing portfolio”)			$	6,164,126		$	6,191,012
Mortgage servicing rights to servicing portfolio			1.54		%	1.39		%

The projections of amortization expense for CDIs and decay for MSRs are based on existing asset balances, the current interest rate environment, and prepayment speeds as of September 30, 2026. The actual expense the Corporation recognizes in any given period may be significantly different depending upon acquisition or sale activities, changes in interest rates, prepayment speeds, market conditions, regulatory requirements, and events or circumstances that indicate the carrying amount of an asset may not be recoverable. The following table shows the estimated future yearly amortization expense for CDIs and decay for MSRs:

(in thousands)			Core Deposit Intangibles						Mortgage Servicing Rights
Three Months Ended December 31, 2026			$	6,894					$	2,157
2027			26,167						11,051
2028			18,965						12,226
2029			15,285						11,773
2030			11,788						11,137
2031			9,851						10,368
Beyond 2031			21,109						36,207
Total estimated amortization expense and MSRs decay(a)			$	110,059					$	94,919

(a) Includes the decrease in value due to passage of time, including the impact from both regularly scheduled principal payments and partial loan paydowns.

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Note 9 Short and Long-Term Funding

The following table presents the components of short-term funding (funding with original contractual maturities of one year or less), and long-term funding (funding with original contractual maturities greater than one year):

(in thousands)			September 30, 2026			December 31, 2025
Short-term funding
Federal funds purchased			$	200,205		$	260,070
Securities sold under agreements to repurchase			66,124			47,794
Federal funds purchased and securities sold under agreements to repurchase			$	266,329		$	307,864
Long-term funding
Corporation senior notes, at par			$	300,000		$	300,000
Corporation subordinated notes(a)			295,768			301,760
Discount and capitalized costs			(6,600)			(7,484)
Total long-term funding			$	589,168		$	594,276
Total short and long-term funding, excluding FHLB advances			$	855,497		$	902,140
FHLB advances
Short-term FHLB advances			$	3,454,500		$	2,855,250
Long-term FHLB advances(a)			506,612			412,844
Total FHLB advances			$	3,961,112		$	3,268,094
Total short and long-term funding			$	4,816,609		$	4,170,234

(a) Includes fair value hedge. For additional information on the fair value hedges, see Note 10.

Securities Sold Under Agreements to Repurchase

The Corporation enters into agreements under which it sells securities subject to an obligation to repurchase the same or similar securities. Under these arrangements, the Corporation may transfer legal control over the assets but still retain effective control through an agreement that both entitles and obligates the Corporation to repurchase the assets. The obligation to repurchase the securities is reflected as a liability on the Corporation’s consolidated balance sheets, while the securities underlying the repurchase agreements remain in the respective investment securities asset accounts (i.e., there is no offsetting or netting of the investment securities assets with the repurchase agreement liabilities).

The Corporation utilizes repurchase agreements to facilitate the needs of its customers. The fair value of securities pledged to secure repurchase agreements may decline. At September 30, 2026, the Corporation had pledged securities valued at 222% of the gross outstanding balance of repurchase agreements to manage this risk.

The remaining contractual maturity of the securities sold under agreements to repurchase on the consolidated balance sheets is presented in the following table:

			Overnight and Continuous
(in thousands)			September 30, 2026			December 31, 2025
Repurchase agreements
Agency mortgage-related securities			$	66,124		$	47,794

Long-Term Funding

Senior Notes

In August 2024, the Corporation issued $300.0 million in aggregate principal amount of 6.455% Fixed Rate / Floating Rate Senior Notes due August 29, 2030. During the period from, and including, August 29, 2024, to, but excluding, August 29, 2029, the senior notes will have a fixed coupon interest rate of 6.455% per annum, payable semi-annually in arrears. During the period from, and including, August 29, 2029, to, but excluding, the maturity date, the senior notes will have a floating rate per annum equal to Compounded SOFR, as defined in the Global Note issued in connection with the senior notes, plus 3.030%, payable quarterly in arrears. Prior to August 29, 2029, the Corporation may, at its option, redeem the senior notes, in whole or in part, at any time and from time to time, by paying the redemption price, as defined in the Global Note issued in connection with the senior notes, plus accrued and unpaid interest thereon, if any, to, but excluding, the redemption date. On August 29, 2029, the Corporation may at its option, redeem the senior notes, in whole, but not in part, by paying the aggregate principal amount of the notes to be redeemed plus accrued and unpaid interest thereon, if any, to, but excluding, the redemption date. At any time and from time to time on or after July 30, 2030 (30 days prior to the maturity date), the Corporation may, at its option,

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redeem the senior notes in whole or in part by paying the aggregate principal amount of the senior notes to be redeemed plus accrued and unpaid interest thereon, if any, to, but excluding, the redemption date. The senior notes were issued at a discount.

Subordinated Notes 

In February 2023, the Corporation issued $300.0 million of 10-year subordinated notes, due March 1, 2033 and redeemable in whole or in part at the Corporation's option (i) on the reset date of March 1, 2028 and any interest payment date thereafter, (ii) at any time on or after the three month period prior to the maturity date, and (iii) upon the occurrence of a Regulatory Capital Treatment Event, as defined in the Global Note issued in connection with the subordinated notes. The subordinated notes have a fixed coupon interest rate of 6.625% until the reset date, after which the rate will be equal to the Five-Year U.S. Treasury Rate as of the reset date plus 2.812% per annum. The notes were issued at a discount.

FHLB Advances

Under agreements with the FHLB of Chicago, FHLB advances are secured by pledging qualifying collateral of the subsidiary bank (such as residential mortgage loans, residential mortgage loans held for sale, home equity loans, CRE loans, and investment securities). The FHLB advances had maturity or call dates ranging from 2026 through 2031 at September 30, 2026.

Note 10 Derivative and Hedging Activities

The Corporation enters into derivative financial instruments to manage exposures that arise from business activities that result in the payment of future known and uncertain cash amounts, the value of which are determined by interest and currency rates as well as other economic conditions.

At inception, the Corporation designates the derivative contract as either a fair value hedge (i.e., a hedge of the fair value of a recognized asset or liability), a cash flow hedge (i.e., a hedge of the variability of cash flows to be received or paid related to a recognized asset or liability), or a non-designated hedge. The hedge accounting methodologies applied for fair value, cash flow, and non-designated hedges are described in the Derivative and Hedging Activities note in the Corporation's 2025 Annual Report on Form 10-K.

The contract or notional amount of a derivative is used to determine, along with the other terms of the derivative, the amounts to be exchanged between the counterparties. The Corporation is exposed to credit risk in the event of nonperformance by counterparties to financial instruments. To mitigate the counterparty risk, contracts generally contain language outlining collateral pledging requirements for each counterparty. For non-centrally cleared derivatives, collateral must be posted when the market value exceeds certain mutually agreed upon threshold limits. Securities and cash are often pledged as collateral. The Corporation pledged $67.0 million and $79.4 million of investment securities as collateral at September 30, 2026, and December 31, 2025, respectively. Cash is often pledged or received as collateral for derivatives that are not centrally cleared. The Corporation's cash collateral pledged was $1.6 million at September 30, 2026 and $11.8 million at December 31, 2025. For fair value information and disclosures and for the Corporation's accounting policy for derivative and hedging activities, see the Fair Value Measurements and Summary of Significant Accounting Policies notes in the Corporation's 2025 Annual Report on Form 10-K.

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The following table presents the total notional amounts and gross fair values of the Corporation's derivatives, as well as the balance sheet netting adjustments:

						Sep 30, 2026												Dec 31, 2025
						Asset						Liability						Asset						Liability
(in thousands)						Notional Amount			Fair Value			Notional Amount			Fair Value			Notional Amount			Fair Value			Notional Amount			Fair Value
Designated as hedging instruments:
Interest rate-related instruments(a)						$	775,000		$	308		$	2,250,000		$	21,136		$	2,425,000		$	10,517		$	25,000		$	1
Foreign currency exchange forwards						321,506			2,240			22,368			245			280,159			757			38,384			194
Total designated as hedging instruments						2,548						21,381						11,274						195
Not designated as hedging instruments:
Interest rate-related and other instruments						4,530,042			112,606			7,640,608			220,964			4,775,818			66,787			7,072,274			108,631
Foreign currency exchange forwards						41,744			451			36,366			226			48,904			1,731			43,787			1,517
Mortgage banking(b)						67,965			2,931			124,500			—			39,998			814			107,000			444
Total not designated as hedging instruments						115,988						221,190						69,332						110,592
Gross derivatives before netting									118,536						242,571						80,606						110,787
Less: Legally enforceable master netting agreements						926						926						12,839						12,839
Less: Cash collateral pledged/received						75,651						1,630						10,343						8,334
Total derivative instruments, after netting						$	41,959					$	240,015					$	57,424					$	89,614

(a) The notional amounts of the interest rate-related instruments designated as hedging instruments include forward starting interest rate swaps. As of September 30, 2026, this includes swaps with effective dates of November 1, 2026 to December 1, 2026 that had an asset notional of $25.0 million and a nominal fair value, and a liability notional amount and fair value of $550.0 million and $10.9 million, respectively. As of December 31, 2025, the Corporation did not have any forward starting interest rate-swaps.
(b) The mortgage derivative asset includes interest rate lock commitments, while the mortgage derivative liability includes forward commitments. Given the fair value position as of September 30, 2026, the fair value of the mortgage derivative asset included $0.1 million of interest rate lock commitments and $2.9 million of forward commitments. Given the fair value position as of December 31, 2025, the fair value of the mortgage derivative asset included $0.8 million of interest rate lock commitments and the derivative liability included $0.4 million of forward commitments.

The following table presents amounts that were recorded on the consolidated balance sheets related to cumulative basis adjustments for fair value hedges:

			Line Item in the Consolidated Balance Sheets in Which the Hedged Item is Included
			Carrying Amount of the Hedged Assets/(Liabilities)(a)			Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Assets/(Liabilities)			Carrying Amount of the Hedged Assets/(Liabilities)(a)			Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Assets/(Liabilities)
(in thousands)			Sep 30, 2026						Dec 31, 2025
Other long-term funding			$	(295,768)		$	4,232		$	(301,760)		$	(1,760)
FHLB Advances			(195,006)			4,994			(198,722)			1,278
Total			$	(490,774)		$	9,226		$	(500,482)		$	(482)

(a) Excludes hedged items where only foreign currency risk is the designated hedged risk. At September 30, 2026 and December 31, 2025, the carrying amount excluded for foreign currency denominated loans was $343.9 million and $318.5 million, respectively.

The Corporation terminated its $500.0 million fair value hedge during the fourth quarter of 2019. At September 30, 2026, the amortized cost basis of the closed portfolios which had previously been used in the terminated hedging relationship was $147.4 million and is included in loans on the consolidated balance sheets. This amount includes $0.6 million of hedging adjustments on the discontinued hedging relationships, which are not presented in the table above.

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The tables below identify the effect of fair value and cash flow hedge accounting on the Corporation's consolidated statements of income:

			Location and Amount Recognized on the Consolidated Statements of Income in Fair Value and Cash Flow Hedging Relationships
			Three Months Ended Sep 30,												Nine Months Ended Sep 30,
			2026						2025						2026						2025
(in thousands)			Interest Income			Interest (Expense)			Interest Income			Interest (Expense)			Interest Income			Interest (Expense)			Interest Income			Interest (Expense)
Total amounts of income/expense presented on the consolidated statements of income in which the effects of the fair value or cash flow hedges are recorded(a)			$	412		$	(476)		$	(1,474)		$	(1,324)		$	1,581		$	(1,253)		$	(4,087)		$	(5,485)
The effects of fair value and cash flow hedging: Impact on fair value hedging relationships in Subtopic 815-20
Interest contracts:
Hedged items			(24)			3,767			(33)			(696)			(198)			9,708			(92)			(11,793)
Derivatives designated as hedging instruments(a)			436			(4,243)			(1,440)			(628)			1,779			(10,961)			(3,995)			6,308

(a) Includes net settlements on the derivatives.

			Location and Amount Recognized on the Consolidated Statements of Income in Fair Value Hedging Relationships
			Three Months Ended Sep 30,						Nine Months Ended Sep 30,
			2026			2025			2026			2025
(in thousands)			Capital Markets, Net			Capital Markets, Net			Capital Markets, Net			Capital Markets, Net
Total amounts of income/expense presented on the consolidated statements of income in which the effects of the fair value hedges are recorded			$	—		$	—		$	53		$	1
The effects of fair value hedging: Impact on fair value hedging relationships in Subtopic 815-20
Foreign currency contracts:
Hedged items			(4,002)			(8,352)			(22,088)			11,742
Derivatives designated as hedging instruments			4,002			8,352			22,141			(11,741)

The following table presents the effect of cash flow hedge accounting on accumulated other comprehensive income (loss):

			Three Months Ended Sep 30,						Nine Months Ended Sep 30,
(in thousands)			2026			2025			2026			2025
Interest rate-related instruments designated as cash flow hedging instruments
Amount of (loss) income recognized in OCI on cash flow hedge derivatives(a)			$	(15,247)		$	(825)		$	(29,665)		$	7,707
Amount of loss reclassified from accumulated other comprehensive income (loss) into interest income(a)			(436)			1,440			(1,779)			3,995

(a) The entirety of gains (losses) recognized in OCI as well as those reclassified from accumulated other comprehensive income (loss) into interest income were included components in the assessment of hedge effectiveness.

Amounts reported in accumulated other comprehensive income (loss) related to cash flow hedge derivatives are reclassified to interest income as interest payments are made on the hedged variable interest rate assets. The Corporation estimates that $9.2 million will be reclassified as a decrease to interest income over the next 12 months. This amount could differ from amounts actually recognized due to changes in interest rates, hedge de-designations, or the addition of other hedges subsequent to September 30, 2026. The maximum length of time over which the Corporation is hedging its exposure to the variability in future cash flows is 38 months as of September 30, 2026.

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The table below identifies the effect of derivatives not designated as hedging instruments on the Corporation's consolidated statements of income:

			Consolidated Statements of Income Category of Gain / (Loss)  Recognized in Income			Three Months Ended Sep 30,						Nine Months Ended Sep 30,
(in thousands)						2026			2025			2026			2025
Derivative instruments
Interest rate-related and other instruments — customer and mirror, net			Capital markets, net			$	80		$	(18)		$	49		$	(108)
Interest rate-related instruments — MSRs hedge			Mortgage banking, net			(8,157)			131			(8,376)			1,290
Foreign currency exchange forwards			Capital markets, net			215			315			857			(261)
Interest rate lock commitments (mortgage)			Mortgage banking, net			(1,380)			(792)			(763)			803
Forward commitments (mortgage)			Mortgage banking, net			3,276			913			3,323			(703)

Note 11 Balance Sheet Offsetting

Interest Rate-Related Instruments and Foreign Exchange Forwards (“Interest and Foreign Exchange Agreements”)

The Corporation is permitted to present derivative receivables and derivative payables with the same counterparty and the related cash collateral receivables and payables on a net basis on the consolidated balance sheets when a legally enforceable master netting agreement exists. The Corporation has elected to net such balances where it has determined that the specified conditions are met.

The Corporation uses master netting agreements to mitigate counterparty credit risk in these transactions, including derivative contracts. A master netting agreement is a single agreement with a counterparty that permits multiple transactions governed by that agreement to be terminated or accelerated and settled through a single payment in a single currency in the event of a default (e.g., bankruptcy, failure to make a required payment or securities transfer, or failure to deliver collateral or margin when due).

Typical master netting agreements for these types of transactions also contain a collateral/margin agreement that provides for a security interest in, or title transfer of, securities or cash collateral/margin to the party that has the right to demand margin (the "demanding party"). The collateral/margin agreement typically requires a party to transfer collateral/margin to the demanding party with a value equal to the amount of the margin deficit on a net basis across all transactions governed by the master netting agreement, less any threshold. The collateral/margin agreement grants to the demanding party, upon default by the counterparty, the right to offset any amounts payable by the counterparty against any posted collateral or the cash equivalent of any posted collateral/margin. It also grants to the demanding party the right to liquidate collateral/margin and to apply the proceeds to an amount payable by the counterparty.

For additional information on the Corporation’s derivative and hedging activities, see the Derivative and Hedging Activities note in the Corporation's 2025 Annual Report on Form 10-K.

The following tables present the interest rate and foreign exchange assets and liabilities subject to an enforceable master netting arrangement. The interest rate and foreign exchange agreements the Corporation has with its commercial customers are not subject to an enforceable master netting arrangement and are therefore excluded from these tables:

			Gross Amounts Recognized			Gross Amounts Subject to Master Netting Arrangements Offset on the Consolidated Balance Sheets						Net Amounts Presented on the Consolidated Balance Sheets			Gross Amounts Not Offset on the Consolidated Balance Sheets
(in thousands)						Derivative Liabilities Offset			Cash Collateral Received						Security Collateral Received			Net Amount
Derivative assets
September 30, 2026			$	111,742		$	(926)		$	(75,651)		$	35,165		$	(16,214)		$	18,951
December 31, 2025			42,468			(12,839)			(10,343)			19,286			(18,131)			1,155

			Gross Amounts Recognized			Gross Amounts Subject to Master Netting Arrangements Offset on the Consolidated Balance Sheets						Net Amounts Presented on the Consolidated Balance Sheets			Gross Amounts Not Offset on the Consolidated Balance Sheets
(in thousands)						Derivative Assets Offset			Cash Collateral Pledged						Security Collateral Pledged			Net  Amount
Derivative liabilities
September 30, 2026			$	21,995		$	(926)		$	(1,630)		$	19,439		$	—		$	19,439
December 31, 2025			23,006			(12,839)			(8,334)			1,833			—			1,833

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Note 12 Commitments, Off-Balance Sheet Arrangements, and Legal Proceedings

The Corporation utilizes a variety of financial instruments in the normal course of business to meet the financial needs of its customers and to manage its own exposure to fluctuations in interest rates. These financial instruments include lending-related and other commitments (see below) as well as derivative instruments (see Note 10). The following is a summary of lending-related commitments:

(in thousands)			Sep 30, 2026			Dec 31, 2025
Commitments to extend credit(a), excluding commitments to originate residential mortgage loans held for sale(b)			$	13,640,398		$	11,872,816
Commercial letters of credit(a)			430			425
Standby letters of credit(c)			255,660			222,047

(a) These off-balance sheet financial instruments are exercisable at the market rate prevailing at the date the underlying transaction will be completed and, thus, are deemed to have no current fair value, or the fair value is based on fees currently charged to enter into similar agreements and was not material at September 30, 2026 or December 31, 2025.

(b) Interest rate lock commitments to originate residential mortgage loans held for sale are considered derivative instruments and are disclosed in Note 10.

(c) Standby letters of credit are presented excluding participations. The Corporation has established a liability of $2.4 million at September 30, 2026 and $2.2 million at December 31, 2025, as an estimate of the fair value of these financial instruments.

Lending-related Commitments

As a financial services provider, the Corporation routinely enters into commitments to extend credit. Such commitments are subject to the same credit policies and approval process accorded to loans made by the Corporation, with each customer’s creditworthiness evaluated on a case-by-case basis. The commitments generally have fixed expiration dates or other termination clauses and may require the payment of a fee. The Corporation’s exposure to credit loss in the event of nonperformance by the other party to these financial instruments is represented by the contractual amount of those instruments. The amount of collateral obtained, if deemed necessary by the Corporation upon extension of credit, is based on management’s credit evaluation of the customer. Since a significant portion of commitments to extend credit are subject to specific restrictive loan covenants or may expire without being drawn upon, the total commitment amounts do not necessarily represent future cash flow requirements. An allowance for unfunded commitments is maintained at a level believed by management to be sufficient to absorb expected lifetime losses related to unfunded commitments (including unfunded loan commitments and letters of credit).

The following table presents a summary of the changes in the allowance for unfunded commitments:

(in thousands)			Nine Months Ended Sep 30, 2026			Year Ended Dec 31, 2025
Allowance for unfunded commitments
Balance at beginning of period			$	41,276		$	38,776
Initial allowance for PCD unfunded commitments			3,597			—
Initial allowance for purchased seasoned unfunded commitments			1,871			—
Provision for unfunded commitments			3,000			2,500
Balance at end of period			$	49,744		$	41,276

Lending-related commitments include commitments to extend credit, commitments to originate residential mortgage loans held for sale, commercial letters of credit, and standby letters of credit. Commitments to extend credit are legally binding agreements to lend to customers at predetermined interest rates, as long as there is no violation of any condition established in the contracts. Interest rate lock commitments to originate residential mortgage loans held for sale and forward commitments to sell residential mortgage loans are considered derivative instruments, and the fair value of these commitments is recorded in other assets and accrued expenses and other liabilities on the consolidated balance sheets. The Corporation’s derivative and hedging activity is further described in Note 10. Commercial and standby letters of credit are conditional commitments issued to guarantee the performance of a customer to a third party. Commercial letters of credit are issued specifically to facilitate commerce and typically result in the commitment being drawn on when the underlying transaction is consummated between the customer and the third party, while standby letters of credit generally are contingent upon the failure of the customer to perform according to the terms of the underlying contract with the third party.

Other Commitments

The Corporation invests in qualified affordable housing projects, historic projects, new market projects, and opportunity zone funds for the purpose of community reinvestment and obtaining tax credits and other tax benefits. Return on the Corporation's investment in these projects and funds comes in the form of the tax credits and tax losses that pass through to the Corporation.

The aggregate carrying value of investments in qualified affordable housing and historic projects at September 30, 2026 was $167.0 million, compared to $174.3 million at December 31, 2025, included in tax credit and other investments on the consolidated balance sheets. The Corporation's remaining investments accounted for under the proportional amortization method totaled $165.9 million at September 30, 2026 and $172.2 million at December 31, 2025.

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Under the proportional amortization method, the Corporation amortizes the initial cost of the investment in proportion to the tax credits and other tax benefits. The following table summarizes income tax credits, other income tax benefits, and investment amortization generated from the Corporation's investments in these projects, which are recognized as a component within income tax expense on the consolidated statements of income and included in the change in net income tax position and amortization of tax credit investments on the consolidated statements of cash flows:

			Three Months Ended Sep 30,						Nine Months Ended Sep 30,
(in thousands)			2026			2025			2026			2025
Income tax credits and other income tax benefits recognized			$	9,046		$	9,468		$	28,589		$	29,698
Amortization expense			8,476			9,249			25,623			26,307

The Corporation’s unfunded contributions relating to investments in qualified affordable housing and historic projects are recorded in accrued expenses and other liabilities on the consolidated balance sheets. The Corporation’s remaining unfunded contributions totaled $34.1 million at September 30, 2026 and $22.8 million at December 31, 2025.

The Corporation has principal investment commitments to provide capital-based financing to private companies through either direct investment in specific companies or through investment funds and partnerships. The timing of future cash requirements to fund such principal investment commitments is generally dependent on the investment cycle, whereby privately held companies are funded by private equity investors and ultimately sold, merged, or taken public through an initial public offering, which can vary based on overall market conditions, as well as the nature and type of industry in which the companies operate. The timing of future cash requirements to fund these pools is dependent upon loan demand, which can vary over time. The aggregate carrying value of these investments was $75.9 million at September 30, 2026 and $62.3 million at December 31, 2025, included in tax credit and other investments on the consolidated balance sheets.

Legal Proceedings

The Corporation is party to various pending and threatened claims and legal proceedings arising in the normal course of business activities, some of which involve claims for substantial amounts. Although there can be no assurance as to the ultimate outcomes, the Corporation believes it has meritorious defenses to the claims asserted against it in its currently outstanding matters and intends to continue to defend itself vigorously with respect to such legal proceedings. The Corporation will consider settlement of cases when, in management’s judgment, it is in the best interests of the Corporation and its shareholders.

Management believes that the legal proceedings currently pending against it should not have a material adverse effect on the Corporation’s consolidated financial condition. However, in light of the uncertainties involved in such proceedings, there is no assurance that the ultimate resolution of these matters will not significantly exceed the reserves the Corporation has currently accrued or that a matter will not have material reputational or other qualitative consequences. As a result, the outcome of a particular matter may be material to the Corporation’s operating results for a particular period, depending on, among other factors, the size of the loss or liability imposed and the level of the Corporation’s income for that period.

Mortgage Repurchase Reserve

The Corporation sells residential mortgage loans to investors in the normal course of business. Residential mortgage loans sold to others are predominantly conventional residential first lien mortgages originated under the Corporation's usual underwriting procedures, and are most often sold on a nonrecourse basis, primarily to the GSEs. The Corporation’s agreements to sell residential mortgage loans in the normal course of business usually require certain representations and warranties on the underlying loans sold, related to credit information, loan documentation, collateral, and insurability. Subsequent to being sold, if a material underwriting deficiency or documentation defect is discovered, the Corporation may be obligated to repurchase the loan or reimburse the GSEs for losses incurred (collectively, “make whole requests”). The make whole requests and any related risk of loss under the representations and warranties are largely driven by borrower performance. The Corporation also sells qualifying residential mortgage loans guaranteed by U.S. government agencies into GNMA pools.

As a result of make whole requests, the Corporation has repurchased loans with aggregate principal balances of $4.3 million and $3.5 million for the nine months ended September 30, 2026 and the year ended December 31, 2025, respectively. There were no loss reimbursement and settlement claims paid in the nine months ended September 30, 2026 or for the year ended December 31, 2025. Make whole requests since January 1, 2025 generally arose from loans originated since January 1, 2022 with balances totaling $4.5 billion at the time of sale, consisting primarily of loans sold to GSEs. As of September 30, 2026, $2.1 billion of those loans originated since January 1, 2022 remain outstanding.

The balance in the mortgage repurchase reserve at the balance sheet date reflects the estimated amount of potential loss the Corporation could incur from repurchasing a loan, as well as loss reimbursements, indemnifications, and other settlement resolutions. The mortgage repurchase reserve, included in accrued expenses and other liabilities on the consolidated balance sheets, was $0.5 million at September 30, 2026 and $0.3 million at December 31, 2025.

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The Corporation may also sell residential mortgage loans with limited recourse (limited in that the recourse period ends prior to the loan’s maturity, usually after certain time and/or loan paydown criteria have been met), whereby repurchase could be required if the loan had defined delinquency issues during the limited recourse periods. At September 30, 2026 and December 31, 2025, there were $12.7 million and $11.4 million, respectively, of residential mortgage loans sold with such recourse risk. There have been limited instances and immaterial historical losses on repurchases for recourse under the limited recourse criteria.

The Corporation has a subordinate position to the FHLB in the credit risk on residential mortgage loans it sold to the FHLB Mortgage Partnership Finance Traditional program in exchange for a monthly credit enhancement fee. At September 30, 2026 and December 31, 2025, there were $419.0 million and $273.4 million, respectively, of such residential mortgage loans with credit risk recourse, upon which there have been immaterial historical losses to the Corporation.

Note 13 Fair Value Measurements

Fair value represents the estimated price at which an orderly transaction to sell an asset or to transfer a liability would take place between market participants at the measurement date under current market conditions (i.e., an exit price concept).

The valuation methodologies for assets and liabilities measured at fair value on a recurring and non-recurring basis are described in the Fair Value Measurements note in the Corporation’s 2025 Annual Report on Form 10-K, as well as Note 3 Business Combinations.

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The tables below present the Corporation’s financial instruments measured at fair value on a recurring basis and carrying amounts and estimated fair values of certain financial instruments, aggregated by the level in the fair value hierarchy within which those measurements fall:

			Sep 30, 2026
(in thousands)			Carrying Amount			Fair Value			Level 1			Level 2			Level 3
Assets
Cash and due from banks			$	644,519		$	644,519		$	644,519		$	—		$	—
Interest-bearing deposits in other financial institutions			982,850			982,850			982,850			—			—
Federal funds sold and securities purchased under agreements to resell			100			100			100			—			—
AFS investment securities:
Obligations of state and political subdivisions (municipal securities)			6,392			6,392			—			6,392			—
Residential mortgage-related securities:
FNMA / FHLMC			134,464			134,464			—			134,464			—
GNMA			5,352,106			5,352,106			—			5,352,106			—
Commercial mortgage-related securities:
FNMA / FHLMC			347,399			347,399			—			347,399			—
GNMA			102,863			102,863			—			102,863			—
Asset backed securities:
FFELP			86,048			86,048			—			86,048			—
SBA			164,502			164,502			—			164,502			—
Other debt securities(a)			5,054			5,054			—			2,991			2,063
Total AFS investment securities			6,198,828			6,198,828			—			6,196,765			2,063
HTM investment securities:
U.S. Treasury securities			997			993			993			—			—
Obligations of state and political subdivisions (municipal securities)			1,576,827			1,304,761			—			1,304,761			—
Residential mortgage-related securities:
FNMA / FHLMC			771,047			598,700			—			598,700			—
GNMA			36,181			31,634			—			31,634			—
Private-label			284,928			224,916			—			224,916			—
Commercial mortgage-related securities:
FNMA / FHLMC			752,924			609,904			—			609,904			—
GNMA			39,316			33,974			—			33,974			—
Total HTM investment securities			3,462,220			2,804,882			993			2,803,889			—
Equity securities:
Equity securities			15,043			15,043			15,043			—			—
Equity securities at NAV			15,000			15,000
Total equity securities			30,043			30,043
Regulatory stocks			304,330			304,330			—			304,330			—
Residential loans held for sale			66,770			66,770			—			66,770			—
Loans, net			36,005,495			34,759,951			—			—			34,759,951
Bank and corporate owned life insurance			717,175			717,175			—			717,175			—
Mortgage servicing rights, net			94,919			94,919			—			—			94,919
Interest rate-related instruments designated as hedging instruments(b)			308			308			—			308			—
Foreign currency exchange forwards designated as hedging instruments(b)			2,240			2,240			—			2,240			—
Interest rate-related and other instruments not designated as hedging instruments(b)			112,606			112,606			—			112,606			—
Foreign currency exchange forwards not designated as hedging instruments(b)			451			451			—			451			—
Interest rate lock commitments to originate residential mortgage loans held for sale			2,931			2,931			—			—			2,931
Total selected assets at fair value			$	48,625,785		$	46,722,903		$	1,643,505		$	10,204,534		$	34,859,864

(a) The quantifiable unobservable input for fair value measurement of the Level 3 classified security is externally developed.

(b) Figures are presented gross before netting. See Note 10 and Note 11 for information relating to the impact of offsetting derivative assets and liabilities and cash collateral with the same counterparty where there is a legally enforceable master netting agreement in place.

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			Sep 30, 2026
(in thousands)			Carrying Amount			Fair Value			Level 1			Level 2			Level 3
Liabilities
Deposits:
Brokered CDs			$	3,790,075		$	3,773,476		$	—		$	3,773,476		$	—
Other time deposits			4,963,737			4,948,274			—			4,948,274			—
Federal funds purchased and securities sold under agreements to repurchase			266,329			266,329			266,329			—			—
FHLB advances			3,961,112			3,950,034			—			3,950,034			—
Senior and subordinated debt			589,168			566,385			—			566,385			—
Standby letters of credit(a)			2,365			2,365			—			2,365			—
Interest rate-related instruments designated as hedging instruments(b)			21,136			21,136			—			21,136			—
Foreign currency exchange forwards designated as hedging instruments(b)			245			245			—			245			—
Interest rate-related and other instruments not designated as hedging instruments(b)			220,964			220,964			—			220,964			—
Foreign currency exchange forwards not designated as hedging instruments(b)			226			226			—			226			—
Total selected liabilities at fair value			$	13,815,357		$	13,749,434		$	266,329		$	13,483,105		$	—

(a) The commitment on standby letters of credit was $255.7 million at September 30, 2026. See Note 12 for additional information on the standby letters of credit and for information on the fair value of lending-related commitments.
(b) Figures are presented gross before netting. See Note 10 and Note 11 for information relating to the impact of offsetting derivative assets and liabilities and cash collateral with the same counterparty where there is a legally enforceable master netting agreement in place.

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			Dec 31, 2025
(in thousands)			Carrying Amount			Fair Value			Level 1			Level 2			Level 3
Assets
Cash and due from banks			$	574,698		$	574,698		$	574,698		$	—		$	—
Interest-bearing deposits in other financial institutions			1,144,123			1,144,123			1,144,123			—			—
Federal funds sold and securities purchased under agreements to resell			1,400			1,400			1,400			—			—
AFS investment securities:
Obligations of state and political subdivisions (municipal securities)			3,044			3,044			—			3,044			—
Residential mortgage-related securities:
FNMA / FHLMC			129,863			129,863			—			129,863			—
GNMA			5,039,829			5,039,829			—			5,039,829			—
Commercial mortgage-related securities:
FNMA / FHLMC			16,958			16,958			—			16,958			—
GNMA			109,556			109,556			—			109,556			—
Asset backed securities:
FFELP			95,046			95,046			—			95,046			—
SBA			269			269			—			269			—
Other debt securities			2,998			2,998			—			2,998			—
Total AFS investment securities			5,397,563			5,397,563			—			5,397,563			—
HTM investment securities:
U.S. Treasury securities			996			1,015			1,015			—			—
Obligations of state and political subdivisions (municipal securities)			1,628,088			1,507,302			—			1,507,302			—
Residential mortgage-related securities:
FNMA / FHLMC			823,630			696,462			—			696,462			—
GNMA			39,123			36,884			—			36,884			—
Private-label			302,817			258,827			—			258,827			—
Commercial mortgage-related securities:
FNMA / FHLMC			763,370			650,366			—			650,366			—
GNMA			44,552			40,138			—			40,138			—
Total HTM investment securities			3,602,576			3,190,994			1,015			3,189,979			—
Equity securities:
Equity securities			11,060			11,060			11,060			—			—
Equity securities at NAV			15,000			15,000
Total equity securities			26,060			26,060
Regulatory stocks			252,514			252,514			—			252,514			—
Residential loans held for sale			72,499			72,499			—			72,499			—
Loans, net			30,766,886			29,970,788			—			—			29,970,788
Bank and corporate owned life insurance			694,452			694,452			—			694,452			—
Mortgage servicing rights, net			86,337			86,337			—			—			86,337
Interest rate-related instruments designated as hedging instruments(a)			10,517			10,517			—			10,517			—
Foreign currency exchange forwards designated as hedging instruments(a)			757			757			—			757			—
Interest rate-related and other instruments not designated as hedging instruments(a)			66,787			66,787			—			66,787			—
Foreign currency exchange forwards not designated as hedging instruments(a)			1,731			1,731			—			1,731			—
Interest rate lock commitments to originate residential mortgage loans held for sale			814			814			—			—			814
Total selected assets at fair value			$	42,699,714		$	41,492,034		$	1,732,296		$	9,686,799		$	30,057,939

(a) Figures are presented gross before netting. See Note 10 and Note 11 for information relating to the impact of offsetting derivative assets and liabilities and cash collateral with the same counterparty where there is a legally enforceable master netting agreement in place.

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			Dec 31, 2025
(in thousands)			Carrying Amount			Fair Value			Level 1			Level 2			Level 3
Liabilities
Deposits:
Brokered CDs			$	3,795,133		$	3,791,245		$	—		$	3,791,245		$	—
Other time deposits			4,041,178			4,035,549			—			4,035,549			—
Federal funds purchased and securities sold under agreements to repurchase			307,864			307,864			307,864			—			—
FHLB advances			3,268,094			3,267,836			—			3,267,836			—
Senior and subordinated debt			594,276			598,141			—			598,141			—
Standby letters of credit(a)			2,225			2,225			—			2,225			—
Interest rate-related instruments designated as hedging instruments(b)			1			1			—			1			—
Foreign currency exchange forwards designated as hedging instruments(b)			194			194			—			194			—
Interest rate-related and other instruments not designated as hedging instruments(b)			108,631			108,631			—			108,631			—
Foreign currency exchange forwards not designated as hedging instruments(b)			1,517			1,517			—			1,517			—
Forward commitments to sell residential mortgage loans			444			444			—			—			444
Total selected liabilities at fair value			$	12,119,557		$	12,113,647		$	307,864		$	11,805,339		$	444

(a) The commitment on standby letters of credit was $222.0 million at December 31, 2025. See Note 12 for additional information on the standby letters of credit and for information on the fair value of lending-related commitments.

(b) Figures are presented gross before netting. See Note 10 and Note 11 for information relating to the impact of offsetting derivative assets and liabilities and cash collateral with the same counterparty where there is a legally enforceable master netting agreement in place.

The table below presents a rollforward of the consolidated balance sheets amounts for the Corporation's mortgage derivatives measured at fair value on a recurring basis and classified within Level 3 of the fair value hierarchy:

(in thousands)			Interest rate lock commitments to originate residential mortgage loans held for sale			Forward commitments to sell residential mortgage loans
Balance December 31, 2024			$	327		$	(254)
New production			13,435			(3,998)
Closed loans / settlements			(13,690)			2,738
Other			742			1,958
Change in mortgage derivative			487			698
Balance December 31, 2025			814			444
New production			11,173			(158)
Closed loans / settlements			(8,815)			4,843
Other			(241)			(5,129)
Change in mortgage derivative			2,117			(444)
Balance September 30, 2026			$	2,931		$	—

Refer to Note 8 for a rollforward of the consolidated balance sheets amounts for the Corporation's mortgage servicing rights measured at fair value on a recurring basis and classified within Level 3 of the fair value hierarchy.

The following table presents a rollforward of the fair value of Level 3 equity securities that are measured under the measurement alternative, and the related adjustments recorded during the periods presented for those securities with observable price changes:

(in thousands)
Fair value as of December 31, 2024			$	72
Purchases			14
Sales			(23)
Transfers out of level 3			(63)
Fair value as of December 31, 2025			$	—

The Corporation did not have any activity for Level 3 equity securities for the nine months ended September 30, 2026.

The Corporation acquired a Level 3 AFS debt security upon the acquisition of American National on April 1, 2026. The security was valued at $2.1 million and no related adjustments to fair value have been recorded as of September 30, 2026.

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The table below presents the Corporation’s assets measured at fair value on a nonrecurring basis, aggregated by the level in the fair value hierarchy within which those measurements fall:

Fair Value

(in thousands)

Fair Value Hierarchy

September 30, 2026

December 31, 2025

Assets

Individually evaluated loans

Level 3

$

69,679

$

18,659

OREO(a)

Level 2

1,442

770

(a) These assets are held at lower of its carrying amount or fair value less cost to sell. Assets included here are those that were adjusted to fair value less cost to sell during the period.

The table below presents the unobservable inputs that are readily quantifiable pertaining to Level 3 measurements:

September 30, 2026			Valuation Technique			Significant Unobservable Input			Range of Inputs									Weighted Average Input Applied
Mortgage servicing rights			Discounted cash flow			Option adjusted spread			5%			-			8%			5%
Mortgage servicing rights			Discounted cash flow			Constant prepayment rate			2%			-			100%			8%
Individually evaluated loans			Discounted cash flow			Discount factor			30%			-			45%			32%
Individually evaluated loans			Market approach			Appraisal / Cost to sell			41%			-			80%			49%
Interest rate lock commitments to originate residential mortgage loans held for sale			Discounted cash flow			Closing ratio			58%			-			100%			92%

Note 14 Retirement Plans

The Corporation has a noncontributory defined benefit RAP, covering employees who meet participation requirements. The benefit allocations are based primarily on years of service and the employee’s compensation paid. Employees of acquired entities generally participate in the RAP after consummation of the business combinations. As part of acquisition-related integration activities, employees who become eligible for participation in the RAP are generally provided service credit for their employment with the acquired institution for eligibility and vesting purposes.

The Corporation also provides legacy healthcare access to a limited group of retired employees from a previous acquisition in the Postretirement Plan. There are no other active retiree healthcare plans.

The components of net periodic pension benefit and net periodic cost for the RAP and Postretirement Plan were as follows:

			Three Months Ended Sep 30,						Nine Months Ended Sep 30,
(in thousands)			2026			2025			2026			2025
RAP
Service cost			$	869		$	636		$	2,606		$	2,255
Interest cost			2,749			3,027			8,248			8,655
Expected return on plan assets			(9,772)			(9,832)			(29,316)			(29,450)
Amortization of prior service credit			(44)			(44)			(133)			(133)
Total net periodic pension benefit			$	(6,198)		$	(6,213)		$	(18,595)		$	(18,673)
Postretirement Plan
Interest cost			$	22		$	26		$	65		$	78
Amortization of prior service credit			(19)			(19)			(56)			(56)
Amortization of actuarial loss			—			4			—			12
Total net periodic cost			$	3		$	11		$	9		$	34

The components of net periodic pension benefit and net periodic cost, other than the service cost component, are included in the other noninterest expense caption of the consolidated statements of income. The service cost component is included in the personnel noninterest expense caption of the consolidated statements of income.

The Corporation’s funding policy is to pay at least the minimum amount required by federal law and regulations, with consideration given to the maximum funding amounts allowed. The Corporation regularly reviews the funding of its RAP. There were no contributions during 2025 or the nine months ended September 30, 2026.

Note 15 Segment Reporting

The Corporation is managed through operating segments based on our internal structure and management process, which is how we assess performance and allocate resources to the segments. Certain operating segments have been aggregated into our three reportable segments where the nature of the products and services, the type of customer, and the distribution of those products and services are similar. The three reportable segments are Corporate and Commercial Specialty; Community, Consumer, and

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Business; and Risk Management and Shared Services. A description of the products and services and the related customers for each reportable segment can be found in the Segment Reporting note in the Corporation’s 2025 Annual Report on Form 10-K.

Effective beginning the first quarter of 2026, the Corporation made adjustments to both its FTP and expense allocation of shared services to its reportable segments to better align with how management assesses performance and allocates resources. These changes consisted of updates to the FTP methodology, including revisions to the funding curve and deposit assumptions; reassignment of certain branch locations based on the primary business activities supported by those branches; and revisions to the allocation of shared service expenses. The Corporation has recast prior period segment information to conform to the current period presentation.

The financial information of the Corporation’s segments disclosed below has been compiled utilizing the accounting policies described in the Corporation’s 2025 Annual Report on Form 10-K with certain exceptions based on internal management accounting policies. The significant exceptions are as follows:

The Corporation allocates certain net interest income, the provision for credit losses, certain noninterest expenses, and income taxes to each operating segment. Allocation methodologies are subject to periodic adjustment as the internal management accounting system is revised, the interest rate environment evolves, and business or product lines within the segments change. Also, because the development and application of these methodologies is a dynamic process, the financial results presented may be periodically reviewed.

The Corporation allocates certain net interest income using an internal FTP methodology that charges users of funds (assets, primarily loans) and credits providers of funds (liabilities, primarily deposits) based on the funding curve, maturity, prepayment, and other characteristics of the assets and liabilities. This allocation is reflected as net intersegment interest income (expense) in the accompanying tables.

The provision for credit losses is allocated to segments based on the expected long-term annual net charge off rates attributable to the credit risk of loans managed by the segment during the period. In contrast, the level of the consolidated provision for credit losses is determined based on an ACLL model using methodologies described in the Corporation’s 2025 Annual Report on Form 10-K.

The net effect of the above allocations is recorded within the Risk Management and Shared Services segment to ensure consolidated totals reflect the Corporation's consolidated financial information.

Indirect expenses incurred by the Corporation's centralized support functions - including facilities, information technology, finance, and corporate risk management - are allocated to reportable segments based on actual usage, such as transaction volumes or FTEs, as well as other relevant drivers that reflect consumption of those services. Because these allocations are based on estimated activity levels, individual period results may reflect variability in the distribution of indirect expenses among segments. Certain corporate-level expenses, including acquisition-related costs, integration expenses, and gains or losses on the disposition of branches or business units, are not allocated and remain in the Risk Management and Shared Services segment. These allocations are reflected as allocated indirect expense in the accompanying tables.

Income tax expense (benefit) is allocated to segments based on the Corporation’s estimated effective tax rate, with certain segments adjusted for any tax-exempt income or non-deductible expenses.

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Financial information about the Corporation’s segments is presented below:

			Three Months Ended September 30, 2026
(in thousands)			Corporate and Commercial Specialty			Community, Consumer and Business			Risk Management and Shared Services			Consolidated Corporation
Net segment interest income			$	272,556		$	86,379		$	18,316		$	377,251
Net intersegment interest (expense) income			(111,503)			158,683			(47,180)			—
Net interest income (expense)			161,053			245,062			(28,864)			377,251
Noninterest income			22,174			56,318			8,639			87,131
Total income (expense) before provision			183,227			301,380			(20,225)			464,382
Provision for credit losses			19,776			6,695			(12,466)			14,005
Total income (expense) after provision			163,451			294,685			(7,759)			450,377
Noninterest expense
Personnel			25,535			70,103			58,076			153,714
Technology(a)			1,293			14,853			26,579			42,725
Occupancy(a)			248			8,869			6,435			15,552
Business development and advertising			943			855			7,679			9,477
Equipment(a)			6			2,374			3,100			5,480
Legal and professional			358			1,320			7,375			9,053
Loan and foreclosure costs			156			1,866			17			2,039
FDIC assessment			—			—			11,802			11,802
Other intangible amortization			—			—			6,894			6,894
Other noninterest expense (income)			914			8,305			(5,613)			3,606
Allocated indirect expense (income)			28,421			67,629			(96,050)			—
Total noninterest expense			57,874			176,174			26,294			260,342
Net income (loss) before income taxes			105,577			118,511			(34,053)			190,035
Income tax expense (benefit)			19,461			24,887			(899)			43,449
Net income (loss)			$	86,116		$	93,624		$	(33,154)		$	146,586
Loans			$	21,954,404		$	14,173,208		$	392,259		$	36,519,871
Allocated goodwill			556,343			590,738			—			1,147,081
Total assets			22,743,700			15,345,776			13,310,376			51,399,852

(a) A portion of total depreciation expense of $0.2 million, $6.1 million, and $5.8 million for the Corporate and Commercial Specialty, Community Consumer and Business, and Risk Management and Shared Services segments, respectively, is included in this expense caption.

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			Three Months Ended September 30, 2025
(in thousands)			Corporate and Commercial Specialty			Community, Consumer and Business			Risk Management and Shared Services			Consolidated Corporation
Net segment interest income (expense)			$	246,829		$	68,027		$	(9,634)		$	305,222
Net intersegment interest (expense) income			(107,596)			146,139			(38,543)			—
Net interest income (expense)			139,233			214,166			(48,177)			305,222
Noninterest income			17,882			53,670			9,713			81,265
Total income (expense) before provision			157,115			267,836			(38,464)			386,487
Provision for credit losses			20,424			6,437			(10,861)			16,000
Total income (expense) after provision			136,691			261,399			(27,603)			370,487
Noninterest expense
Personnel			21,287			62,334			52,082			135,703
Technology(a)			903			13,179			14,508			28,590
Occupancy(a)			163			7,430			5,164			12,757
Business development and advertising			787			778			6,797			8,362
Equipment(a)			6			2,186			2,176			4,368
Legal and professional			337			585			4,310			5,232
Loan and foreclosure costs			111			979			548			1,638
FDIC assessment			—			—			9,980			9,980
Other intangible amortization			—			—			2,203			2,203
Other noninterest expense (income)			882			7,702			(1,215)			7,369
Allocated indirect expense (income)			32,556			63,997			(96,553)			—
Total noninterest expense			57,032			159,170			—			216,202
Net income (loss) before income taxes			79,659			102,229			(27,603)			154,286
Income tax expense (benefit)			15,055			21,468			(6,969)			29,554
Net income (loss)			$	64,604		$	80,761		$	(20,634)		$	124,732
Loans			$	18,033,065		$	12,481,836		$	437,063		$	30,951,964
Allocated goodwill			525,836			579,156			—			1,104,992
Total assets			18,304,871			12,974,383			13,176,609			44,455,863

(a) A portion of total depreciation expense of $0.1 million, $5.9 million, and $6.1 million for the Corporate and Commercial Specialty, Community Consumer and Business, and Risk Management and Shared Services segments, respectively, is included in this expense caption.

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			Nine Months Ended Sep 30, 2026
(in thousands)			Corporate and Commercial Specialty			Community, Consumer and Business			Risk Management and Shared Services			Consolidated Corporation
Net segment interest income			$	770,984		$	241,297		$	42,198		$	1,054,479
Net intersegment interest (expense) income			(325,347)			432,201			(106,854)			—
Net interest income (expense)			445,637			673,498			(64,656)			1,054,479
Noninterest income			51,714			168,698			22,975			243,387
Total income (expense) before provision			497,351			842,196			(41,681)			1,297,866
Provision for credit losses			61,723			20,086			(37,415)			44,394
Total income (expense) after provision			435,628			822,110			(4,266)			1,253,472
Noninterest expense
Personnel			73,680			200,513			175,861			450,054
Technology(a)			3,409			42,830			59,089			105,328
Occupancy(a)			721			25,491			17,157			43,369
Business development and advertising			3,040			2,381			20,430			25,851
Equipment(a)			18			6,762			9,734			16,514
Legal and professional			887			3,484			28,857			33,228
Loan and foreclosure costs			876			4,095			327			5,298
FDIC assessment			—			—			31,234			31,234
Other intangible amortization			—			—			15,990			15,990
Other noninterest expense (income)			2,722			26,363			(4,565)			24,520
Allocated indirect expense (income)			80,651			194,739			(275,390)			—
Total noninterest expense			166,004			506,658			78,724			751,386
Net income (loss) before income taxes			269,624			315,452			(82,990)			502,086
Income tax expense (benefit)			49,134			66,346			(3,179)			112,301
Net income (loss)			$	220,490		$	249,106		$	(79,811)		$	389,785

(a) A portion of total depreciation expense of $0.5 million, $18.6 million, and $17.7 million for the Corporate and Commercial Specialty, Community Consumer and Business, and Risk Management and Shared Services segments, respectively, is included in this expense caption.

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			Nine Months Ended Sep 30, 2025
(in thousands)			Corporate and Commercial Specialty			Community, Consumer and Business			Risk Management and Shared Services(a)			Consolidated Corporation
Net segment interest income (expense)			$	717,093		$	199,393		$	(25,323)		$	891,163
Net intersegment interest (expense) income			(311,153)			434,995			(123,842)			—
Net interest income (expense)			405,940			634,388			(149,165)			891,163
Noninterest income			42,770			154,230			10,019			207,019
Total income (expense) before provision			448,710			788,618			(139,146)			1,098,182
Provision for credit losses			59,806			18,871			(31,678)			46,999
Total income (expense) after provision			388,904			769,747			(107,468)			1,051,183
Noninterest expense
Personnel			62,763			178,847			144,983			386,593
Technology(b)			2,336			39,126			40,775			82,237
Occupancy(b)			499			23,249			17,034			40,782
Business development and advertising			2,973			2,583			16,940			22,496
Equipment(b)			18			6,517			6,854			13,389
Legal and professional			759			1,928			15,302			17,989
Loan and foreclosure costs			1,182			3,495			2,260			6,937
FDIC assessment			—			—			30,124			30,124
Other intangible amortization			—			—			6,608			6,608
Other noninterest expense			2,596			23,129			3,292			29,017
Allocated indirect expense (income)			96,061			188,111			(284,172)			—
Total noninterest expense			169,187			466,985			—			636,173
Net income (loss) before income taxes			219,717			302,762			(107,468)			415,010
Income tax expense (benefit)			41,053			63,580			(27,271)			77,362
Net income (loss)			$	178,662		$	239,182		$	(80,196)		$	337,648

(a) An unusual item of a $7.0 million loss on mortgage portfolio sale as a result of the settlement of the mortgage sale announced in the fourth quarter of 2024 is included within the

noninterest income caption.

(b) A portion of total depreciation expense of $0.2 million, $17.8 million, and $20.0 million for the Corporate and Commercial Specialty, Community Consumer and Business, and Risk Management and Shared Services segments, respectively, is included in this expense caption.

Expenses included within the other noninterest expense line of the segment information above relate to the remaining segment expenses including office expense and card issuance costs. None of the individual expense categories rise to the level of significance for the segment; however, they are utilized in determining the profit or loss measure for each segment.

The management accounting policies and processes utilized in compiling segment financial information are highly subjective and, unlike financial accounting, are not based on authoritative guidance similar to U.S. GAAP. As a result, reportable segments and the financial information of the reported segments are not necessarily comparable with similar information reported by other financial institutions. Furthermore, the information presented is not indicative of how the segments would perform if they operated as independent entities.

The chief operating decision maker for each of the segments is the President and Chief Executive Officer of the Corporation. For the Corporate and Commercial Specialty and Community, Consumer and Business segments, the chief operating decision maker utilizes net interest income, net income and average total loans and deposits in allocating resources for each segment predominantly in the annual budget and forecasting process. The chief operating decision maker considers budget-to-actual variances on a monthly basis for both profit measures when making decisions about allocating capital and personnel to the segments. Based on the reviews of these two segments and other company-wide initiatives, the chief operating decision maker is informed about allocation of resources to the Risk Management and Shared Services segment.

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Note 16 Accumulated Other Comprehensive Income (Loss)

The following table summarizes the components of accumulated other comprehensive income (loss) at September 30, 2026 and 2025, including changes during the preceding nine and three month periods as well as any reclassifications out of accumulated other comprehensive income (loss):

(in thousands)			Investment Securities			Cash Flow Hedge Derivatives			Defined Benefit Pension and Postretirement Obligations			Accumulated Other Comprehensive Income (Loss)
Balance December 31, 2025			$	(2,456)		$	12,894		$	(18,003)		$	(7,566)
Other comprehensive loss before reclassifications			(272,763)			—			—			(272,763)
Amounts reclassified from accumulated other comprehensive (loss) income:
Amortization of net unrealized losses on AFS securities transferred to HTM securities			5,503			—			—			5,503
Other assets / accrued expenses and other liabilities			—			(29,665)			—			(29,665)
Interest expense			—			(1,779)			—			(1,779)
Personnel expense			—			—			(189)			(189)
Income tax benefit (expense)			66,660			(7,565)			47			59,143
Net other comprehensive loss during period			(200,600)			(39,009)			(142)			(239,750)
Balance September 30, 2026			$	(203,056)		$	(26,115)		$	(18,145)		$	(247,316)
Balance December 31, 2024			$	(48,993)		$	(1,268)		$	(24,154)		$	(74,416)
Other comprehensive income before reclassifications			47,970			—			4,770			52,741
Amounts reclassified from accumulated other comprehensive income (loss):
Amortization of net unrealized losses on AFS securities transferred to HTM securities			5,978			—			—			5,978
Other assets / accrued expenses and other liabilities			—			7,707			—			7,707
Interest income			—			3,995			—			3,995
Personnel expense			—			—			(189)			(189)
Other expense			—			—			(12)			(12)
Income tax (expense) benefit			(13,456)			2,816			(1,140)			(11,780)
Net other comprehensive income during period			40,492			14,518			3,429			58,439
Balance September 30, 2025			$	(8,501)		$	13,249		$	(20,725)		$	(15,977)

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(in thousands)			Investment Securities			Cash Flow Hedge Derivatives			Defined Benefit Pension and Postretirement Obligations			Accumulated Other Comprehensive (Loss) Income
Balance June 30, 2026			$	(54,836)		$	(6,659)		$	(18,098)		$	(79,593)
Other comprehensive loss before reclassifications			(199,386)			—			—			(199,386)
Amounts reclassified from accumulated other comprehensive (loss) income:
Amortization of net unrealized losses on AFS securities transferred to HTM securities			1,912			—			—			1,912
Other assets / accrued expenses and other liabilities			—			(15,247)			—			(15,247)
Interest income			—			(436)			—			(436)
Personnel expense			—			—			(63)			(63)
Income tax benefit (expense)			49,254			(3,773)			16			45,497
Net other comprehensive loss during period			(148,220)			(19,456)			(47)			(167,723)
Balance September 30, 2026			$	(203,056)		$	(26,115)		$	(18,145)		$	(247,316)
Balance June 30, 2025			$	(6,109)		$	12,487		$	(20,674)		$	(14,297)
Other comprehensive loss before reclassifications			(5,178)			—			—			(5,178)
Amounts reclassified from accumulated other comprehensive income (loss):
Amortization of net unrealized losses on AFS securities transferred to HTM securities			1,992			—			—			1,992
Other assets / accrued expenses and other liabilities			—			(825)			—			(825)
Interest income			—			1,440			—			1,440
Personnel expense			—			—			(63)			(63)
Other expense			—			—			(4)			(4)
Income tax benefit			795			148			17			960
Net other comprehensive (loss) income during period			(2,392)			763			(51)			(1,680)
Balance September 30, 2025			$	(8,501)		$	13,249		$	(20,725)		$	(15,977)

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ITEM 2.			Management's Discussion and Analysis of Financial Condition and Results of Operations

Special Note Regarding Forward-Looking Statements

This report contains statements that may constitute forward-looking statements within the meaning of the safe-harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, such as statements other than historical facts contained or incorporated by reference into this report. These forward-looking statements include statements with respect to the Corporation’s financial condition, results of operations, plans, objectives, future performance and business, including statements preceded by, followed by or that include the words “believes,” “expects,” or “anticipates,” references to estimates or similar expressions. Future filings by the Corporation with the SEC, and future statements other than historical facts contained in written material, press releases and oral statements issued by, or on behalf of the Corporation may also constitute forward-looking statements.

All forward-looking statements contained in this report or which may be contained in future statements made for or on behalf of the Corporation are based upon information available at the time the statement is made and the Corporation assumes no obligation to update any forward-looking statements, except as required by federal securities law. Forward-looking statements are subject to significant risks and uncertainties, and the Corporation’s actual results may differ materially from the expected results discussed in such forward-looking statements. Factors that might cause actual results to differ from the results discussed in forward-looking statements include, but are not limited to, the risk factors in Item 1A, Risk Factors, in the Corporation’s Annual Report on Form 10-K for the year ended December 31, 2025, and as may be described from time to time in the Corporation’s subsequent SEC filings.

Overview

The following discussion and analysis is presented to assist in the understanding and evaluation of the Corporation’s financial condition and results of operations. It is intended to complement the unaudited consolidated financial statements, footnotes, and supplemental financial data appearing elsewhere in this Quarterly Report on Form 10-Q and should be read in conjunction therewith. Management continually evaluates strategic acquisition opportunities and various other strategic alternatives that could involve the sale or acquisition of branches or other assets, or the consolidation or creation of subsidiaries. Within the tables presented, certain columns and rows may not recalculate due to the use of rounded numbers for disclosure purposes.

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Performance Summary

•Average loans of $34.5 billion increased $4.0 billion, or 13%, from the first nine months of 2025, driven primarily by the American National acquisition and the organic growth in commercial and business lending portfolio.

•Average deposits of $38.9 billion increased $4.3 billion, or 12%, from the first nine months of 2025, primarily due to the American National acquisition.

•Net interest income of $1.1 billion increased $163.3 million, or 18%, from the first nine months of 2025, and net interest margin was 3.14%, compared to 3.02% for the first nine months of 2025. These increases were driven by the acquisition of American National in the second quarter of 2026. Additionally, the increase in interest income reflected the continued shift in earning asset mix from lower-yielding residential mortgage loans to higher-yielding commercial and business lending. The decrease in interest expense was driven by lower market interest rates and a favorable shift in deposit mix away from higher-cost money market and brokered CD deposits toward lower-cost funding sources, including savings and other time deposits, and noninterest-bearing demand deposits. Net interest margin benefited from these factors, as reductions in funding costs more than offset the decline in earning asset yields resulting from the repricing of variable-rate assets in the lower interest rate environment.

•Provision for credit losses was $44.4 million compared to $47.0 million for the first nine months of 2025, driven by nominal credit movement coupled with general macroeconomic trends. In addition, expected credit losses associated with acquired seasoned loans were largely recognized through purchase accounting following the adoption of ASU 2025-08, reducing the need for incremental provision expense associated with the acquired balances.

•Noninterest income of $243.4 million increased $36.4 million, or 18%, from the first nine months of 2025. The increase was primarily driven by higher service charges and deposit account fees and card-based fees, reflecting, in part, the American National acquisition, higher wealth management fees resulting from increased trust and investment advisory revenue, increased capital markets revenue driven by elevated syndication fees and foreign exchange swap revenue, higher other asset gains due to valuation changes in deferred compensation plan assets whose impact is fully offset in personnel expense, and the absence of the nonrecurring loss on mortgage portfolio sale recognized in the first quarter of 2025 in connection with the completion of balance sheet repositioning announced in the fourth quarter of 2024.

•Noninterest expense of $751.4 million increased $115.2 million, or 18%, from the first nine months of 2025. The increase was primarily attributable to the American National acquisition, including recurring expenses such as personnel costs associated with new colleagues and amortization of CDI. The acquisition also resulted in nonrecurring expenses, including severance and retention bonuses impacting personnel expense, contract termination costs increasing technology expense, and transaction and integration-related legal and professional fees. In addition, technology expense increased due to higher subscription costs, increased equipment expense resulting from elevated small equipment purchases, and increased legal and professional expense due to information technology augmentation costs. These increases were offset by a gain on sale of an OREO property in the third quarter of 2026.

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Table 1 Summary Results of Operations: Trends

			YTD									Quarter ended
(Dollars in thousands, except per share data)			Sep 30, 2026			Sep 30, 2025						Sep 30, 2026			Jun 30, 2026			Mar 31, 2026			Dec 31, 2025			Sep 30, 2025
Net income			$	389,785		$	337,648					$	146,586		$	123,564		$	119,635		$	137,129		$	124,732
Net income available to common equity			381,160			329,023						143,711			120,689			116,760			134,254			121,857
Earnings per common share - basic			2.11			1.98						0.77			0.64			0.70			0.81			0.73
Earnings per common share - diluted			2.09			1.96						0.76			0.63			0.70			0.80			0.73
Dividend payout ratio(a)			34.12		%	34.85		%				31.17		%	37.50		%	34.29		%	29.63%			31.51		%
Book value / share(b)												28.44			28.85			29.04			28.81			28.17
Tangible book value (TBV) / share(b)(c)												21.67			22.15			22.23			22.01			21.36
Performance ratios
Return on average assets(d)			1.06		%	1.04		%				1.13		%	0.97		%	1.08		%	1.23		%	1.12		%
Return on average tangible assets(c)(d)			1.12		%	1.08		%				1.20		%	1.03		%	1.12		%	1.27		%	1.17		%
Return on average equity(d)			9.59		%	9.55		%				10.28		%	8.81		%	9.69		%	11.09		%	10.26		%
Return on average tangible common equity (ROATCE)(c)(d)			13.08		%	13.13		%				14.05		%	12.12		%	13.03		%	15.04		%	14.02		%
Efficiency ratios (expense / revenue)
Fully tax-equivalent efficiency ratio			56.13		%	56.67		%				54.10		%	58.30		%	56.03		%	55.21		%	54.77		%
Adjusted efficiency ratio(c)			53.17		%	56.32		%				51.27		%	52.91		%	55.77		%	55.15		%	54.77		%

(a) Ratio is based upon basic earnings per common share.

(b) Based on period end common shares outstanding.

(c) This is a non-GAAP financial measure. See Table 19 Non-GAAP Measures for a reconciliation to GAAP financial measures.

(d) This ratio is annualized.

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Income Statement Analysis

Net Interest Income

Table 2 Net Interest Income Analysis

			Nine Months Ended Sep 30,
			2026									2025(a)
(Dollars in thousands)			Average Balance			Interest Income / Expense			Average Yield / Rate			Average Balance			Interest Income / Expense			Average Yield / Rate
Assets
Earning assets
Loans(b)(c)
Commercial and industrial			$	12,800,123		$	573,125		5.99%			$	10,980,230		$	536,786		6.54%
Commercial real estate—owner occupied			1,447,492			60,238			5.56%			1,120,206			48,042			5.73%
Commercial and business lending			14,247,615			633,363			5.94%			12,100,436			584,828			6.46%
Commercial real estate—investor			6,085,950			275,310			6.05%			5,432,417			265,772			6.54%
Real estate construction			2,360,444			118,800			6.73%			1,920,292			104,598			7.28%
Commercial real estate lending			8,446,394			394,110			6.24%			7,352,709			370,370			6.73%
Total commercial			22,694,009			1,027,473			6.05%			19,453,145			955,197			6.56%
Residential mortgage			6,866,076			196,514			3.82%			7,091,945			197,371			3.71%
Auto finance			3,754,434			160,677			5.72%			2,926,862			122,562			5.60%
Home equity			788,518			38,179			6.46%			671,884			36,791			7.30%
Other consumer			364,560			28,557			10.47%			309,654			26,389			11.39%
Total consumer			11,773,588			423,927			4.81%			11,000,345			383,113			4.65%
Total loans			34,467,597			1,451,400			5.63%			30,453,490			1,338,311			5.87%
Investments
Taxable securities			7,732,748			251,574			4.34%			6,582,998			214,689			4.35%
Tax-exempt securities(b)			1,963,684			51,864			3.52%			2,006,027			52,844			3.51%
Other short-term investments			1,238,168			42,444			4.58%			935,475			35,274			5.04%
Total investments			10,934,600			345,882			4.22%			9,524,500			302,806			4.24%
Total earning assets and related interest income			45,402,197			$	1,797,282		5.29%			39,977,990			$	1,641,117		5.48%
Other assets, net			3,906,735									3,382,379
Total assets			$	49,308,932								$	43,360,369
Liabilities and stockholders' equity
Interest-bearing liabilities
Interest-bearing deposits
Savings			$	5,924,846		$	58,712		1.32%			$	5,241,799		$	54,110		1.38%
Interest-bearing demand			8,551,442			111,999			1.75%			7,870,806			132,678			2.25%
Money market			7,113,072			126,973			2.39%			5,975,632			116,316			2.60%
Network transaction deposits			1,888,746			52,687			3.73%			1,875,523			61,554			4.39%
Brokered CDs			3,834,723			114,325			3.99%			4,105,700			137,589			4.48%
Other time deposits			4,728,922			122,943			3.48%			3,815,105			106,892			3.75%
Total interest-bearing deposits			32,041,751			587,639			2.45%			28,884,565			609,139			2.82%
Federal funds purchased and securities sold under agreements to repurchase			407,330			10,826			3.55%			274,204			7,733			3.77%
FHLB advances			3,548,066			100,760			3.80%			2,672,351			86,944			4.35%
Senior and subordinated debt			592,495			30,556			6.88%			604,146			32,526			7.18%
Other interest-bearing liabilities			21,029			657			4.18%			22,861			907			5.30%
Total funding			4,568,920			142,799			4.18%			3,573,561			128,110			4.79%
Total interest-bearing liabilities and related interest expense			36,610,671			$	730,438		2.67%			32,458,126			$	737,250		3.04%
Noninterest-bearing demand deposits			6,815,928									5,695,818
Other liabilities			449,275									477,597
Stockholders’ equity			5,433,058									4,728,828
Total liabilities and stockholders’ equity			$	49,308,932								$	43,360,369
Interest rate spread									2.62%									2.45%
Net free funds									0.52%									0.57%
Fully tax-equivalent net interest income and net interest margin						$	1,066,844		3.14%						$	903,867		3.02%
Fully tax-equivalent adjustment						(12,365)									(12,705)
Net interest income						$	1,054,479								$	891,163

(a) Prior period has been adjusted to conform with current period presentation.
(b) The yield on tax-exempt loans and securities is computed on a fully tax-equivalent basis using a tax rate of 21%.

(c) Loans held for sale have been included in the average balances.

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Table 2 Net Interest Income Analysis

			Three Months Ended,
			Sep 30, 2026									June 30, 2026									Sep 30, 2025(a)
(Dollars in thousands)			Average Balance			Interest Income / Expense			Average Yield / Rate			Average Balance			Interest Income / Expense			Average Yield / Rate			Average Balance			Interest Income / Expense			Average Yield / Rate
Assets
Earning assets
Loans(b)(c)
Commercial and industrial			$	13,419,967		$	203,370		6.01%			$	13,185,643		$	197,248		6.00%			$	11,367,533		$	187,046		6.53%
Commercial real estate—owner occupied			1,570,109			22,270			5.63%			1,577,489			22,000			5.59%			1,105,787			15,827			5.68%
Commercial and business lending			14,990,076			225,640			5.97%			14,763,132			219,248			5.96%			12,473,319			202,873			6.45%
Commercial real estate—investor			6,464,811			98,026			6.02%			6,502,707			99,131			6.11%			5,300,765			87,114			6.52%
Real estate construction			2,609,406			44,332			6.74%			2,410,500			40,425			6.73%			1,991,565			36,770			7.32%
Commercial real estate lending			9,074,217			142,358			6.23%			8,913,207			139,556			6.28%			7,292,330			123,884			6.74%
Total commercial			24,064,293			367,998			6.07%			23,676,339			358,804			6.08%			19,765,649			326,757			6.56%
Residential mortgage			6,849,299			65,911			3.85%			6,916,754			65,963			3.81%			6,987,858			65,553			3.75%
Auto finance			4,082,986			59,941			5.82%			4,044,290			58,768			5.83%			3,000,978			42,230			5.58%
Home equity			836,914			13,391			6.39%			817,378			13,096			6.41%			690,330			12,641			7.32%
Other consumer			363,543			9,665			10.55%			415,476			10,388			10.03%			305,644			8,972			11.65%
Total consumer			12,132,742			148,908			4.89%			12,193,898			148,215			4.87%			10,984,811			129,396			4.70%
Total loans			36,197,035			516,906			5.67%			35,870,237			507,019			5.67%			30,750,460			456,153			5.89%
Investments
Taxable securities			7,963,260			87,551			4.40%			8,153,435			88,347			4.33%			6,767,664			73,727			4.36%
Tax-exempt securities(b)			1,941,019			17,101			3.52%			1,971,946			17,373			3.52%			1,997,416			17,580			3.52%
Other short-term investments			1,401,842			16,109			4.56%			1,291,636			14,694			4.56%			1,046,723			13,353			5.06%
Total investments			11,306,121			120,761			4.27%			11,417,017			120,414			4.22%			9,811,804			104,660			4.26%
Total earning assets and related interest income			47,503,156			$	637,667		5.34%			47,287,254			$	627,433		5.32%			40,562,264			$	560,813		5.50%
Other assets, net			4,096,534									3,948,588									3,452,939
Total assets			$	51,599,690								$	51,235,842								$	44,015,203
Liabilities and stockholders' equity
Interest-bearing liabilities
Interest-bearing deposits
Savings			$	6,187,886		$	21,207		1.36%			$	6,046,605		$	19,815		1.31%			$	5,338,129		$	19,042		1.42%
Interest-bearing demand			9,035,081			40,602			1.78%			8,720,180			37,161			1.71%			7,898,770			44,763			2.25%
Money market			7,619,006			46,757			2.43%			7,641,652			45,976			2.41%			5,860,802			38,061			2.58%
Network transaction deposits			1,869,045			17,727			3.76%			1,879,876			17,459			3.73%			1,933,659			21,276			4.37%
Brokered CDs			3,920,540			39,334			3.98%			4,085,995			40,487			3.97%			3,916,329			42,878			4.34%
Other time deposits			4,963,185			42,974			3.44%			4,945,821			42,867			3.48%			3,961,522			36,323			3.64%
Total interest-bearing deposits			33,594,743			208,601			2.46%			33,320,129			203,765			2.45%			28,909,211			202,344			2.78%
Federal funds purchased and securities sold under agreements to repurchase			337,397			3,008			3.54%			460,414			4,085			3.56%			227,460			2,107			3.68%
FHLB advances			3,528,243			34,138			3.84%			3,733,950			35,052			3.77%			3,181,903			35,965			4.48%
Senior and subordinated debt			590,928			10,231			6.93%			592,195			10,163			6.86%			593,045			10,741			7.24%
Other interest-bearing liabilities			35,181			352			3.97%			16,430			190			4.64%			19,276			212			4.36%
Total funding			4,491,749			47,729			4.22%			4,802,989			49,490			4.13%			4,021,685			49,025			4.85%
Total interest-bearing liabilities and related interest expense			38,086,492			$	256,330		2.67%			38,123,118			$	253,255		2.66%			32,930,896			$	251,369		3.03%
Noninterest-bearing demand deposits			7,371,331									7,062,098									5,796,676
Other liabilities			484,357									422,642									466,482
Stockholders’ equity			5,657,510									5,627,984									4,821,150
Total liabilities and stockholders’ equity			$	51,599,690								$	51,235,842								$	44,015,203
Interest rate spread									2.67%									2.65%									2.47%
Net free funds									0.53%									0.52%									0.57%
Fully tax-equivalent net interest income and net interest margin						$	381,337		3.20%						$	374,178		3.17%						$	309,444		3.04%
Fully tax-equivalent adjustment						(4,086)									(4,139)									(4,222)
Net interest income						$	377,251								$	370,039								$	305,222

(a) Prior period has been adjusted to conform with current period presentation.
(b) The yield on tax-exempt loans and securities is computed on a fully tax-equivalent basis using a tax rate of 21%.

(c) Loans held for sale have been included in the average balances.

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Notable Contributions to the Change in Net Interest Income

•Fully tax-equivalent net interest income and net interest income increased $163.0 million and $163.3 million, respectively or 18%, as compared to the first nine months of 2025. The average yield on earning assets decreased 19 bp, while the cost of interest-bearing liabilities decreased 37 bp from the first nine months of 2025. The increase in net interest income was primarily driven by growth in average earning assets resulting from the American National acquisition in the second quarter of 2026. In addition, the continued shift in the asset mix away from lower-yielding residential mortgages toward higher-yielding commercial loans partially offset the impact of lower market rates on earning asset yields, while rates paid on interest-bearing liabilities decreased due to lower market rates and a favorable shift in deposit mix toward lower-cost products. As a result, reductions in funding costs more than offset the decline in earning asset yields. See sections Interest Rate Risk and Quantitative and Qualitative Disclosures about Market Risk for a discussion of interest rate risk and market risk.

•Average earning assets increased $5.4 billion, or 14%, from the first nine months of 2025. Average loans increased $4.0 billion, or 13%, from the first nine months of 2025, primarily driven by loans acquired from American National as well as organic increases in commercial and industrial, auto finance, and real estate construction loans, partially offset by a decrease in residential mortgage loans as a result of the Corporation's focus on relationship-based lending and balance sheet remix. Average investments increased $1.4 billion, or 15%, from the first nine months of 2025 due to the American National acquisition.

•    Average interest-bearing liabilities increased $4.2 billion, or 13%, compared to the first nine months of 2025. Average interest-bearing deposits increased $3.2 billion, or 11% from the first nine months of 2025. This was primarily driven by the acquisition of American National along with organic increases in other time deposits and savings, partially offset by a decrease in brokered CDs. Average total funding increased $1.0 billion, or 28%, from the first nine months of 2025, primarily driven by an increase in FHLB advances related to funding for continued loan growth. Average noninterest-bearing demand deposits increased $1.1 billion, or 20%, driven by deposits acquired from the American National acquisition and organic growth from the first nine months of 2025.

Provision for Credit Losses

The provision for credit losses is predominantly a function of the Corporation’s reserving methodology and judgments as to other qualitative and quantitative factors used to determine the appropriate level of the ACLL, which focuses on changes in the size and character of the loan portfolio, changes in levels of individually evaluated and other nonaccrual loans, historical losses and delinquencies in each portfolio category, the risk inherent in specific loans, concentrations of loans to specific borrowers or industries, existing economic conditions and economic forecasts, the fair value of underlying collateral, and other factors which could affect potential credit losses. See additional discussion under the sections titled Loans, Credit Risk, Nonperforming Assets, and Allowance for Credit Losses on Loans.

Noninterest Income

Table 3 Noninterest Income

			Nine months ended									Three months ended															QTD % Change vs
(Dollars in thousands, except as noted)			Sep 30, 2026			Sep 30, 2025			YTD % Change			Sep 30, 2026			Jun 30, 2026			Mar 31, 2026			Dec 31, 2025			Sep 30, 2025			Jun 30, 2026			Sep 30, 2025
Wealth management fees			$	77,596		$	70,837		10		%	$	26,161		$	26,217		$	25,219		$	25,742		$	25,315		—		%	3		%
Service charges and deposit account fees			46,709			39,822			17		%	16,793			15,863			14,054			13,827			13,861			6		%	21		%
Card-based fees			40,289			33,950			19		%	14,549			14,161			11,579			12,679			12,308			3		%	18		%
Other fee-based revenue			17,250			15,659			10		%	6,630			5,758			4,862			5,557			5,414			15		%	22		%
Capital markets, net			24,720			20,873			18		%	10,702			7,476			6,543			11,175			10,764			43		%	(1)		%
Mortgage banking, net			10,653			11,577			(8)		%	1,765			2,777			6,111			2,926			3,541			(36)		%	(50)		%
Loss on mortgage portfolio sale			—			(6,976)			(100)		%	—			—			—			—			—			—		%	—		%
Bank and corporate owned life insurance			13,122			13,391			(2)		%	4,691			4,615			3,816			3,804			4,051			2		%	16		%
Asset gains, net			4,305			727			492		%	2,676			789			840			838			3,340			239		%	(20)		%
Investment securities (losses) gains, net			(40)			13			(408)		%	(46)			35			(28)			37			1			(231)		%	N/M
Other			8,783			$	7,147		23		%	3,210			2,707			2,861			2,799			2,670			19		%	20		%
Total noninterest income			$	243,387		$	207,019		18		%	$	87,131		$	80,398		$	75,857		$	79,384		$	81,265		8		%	7		%
Assets under management, at market value(a)												16,818			17,009			15,708			16,132			16,178			(1)		%	4		%

N/M = Not meaningful
(a) In millions. Excludes assets held in brokerage accounts.

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Notable Contributions to the Change in Noninterest Income

•Wealth management fees increased $6.8 million compared to the first nine months of 2025, primarily due to increased assets under management.

•Service charges and deposit account fees increased $6.9 million compared to the first nine months of 2025, due to organic increases in business demand deposit and overdraft account fees as well as additional income from American National deposit accounts acquired.

•Card-based fees increased $6.3 million compared to the first nine months of 2025, due to organic increases in interchange fee income as well as additional income from increased card-based activity as a result of the American National acquisition.

•Capital markets, net increased $3.8 million compared to the first nine months of 2025, primarily from increased syndication fees.

•Loss on mortgage portfolio sale decreased $7.0 million compared to the first nine months of 2025, due to the balance sheet repositioning completed during the first quarter of 2025.

•Asset gains, net increased $3.6 million compared to the first nine months of 2025, primarily due to valuation changes on deferred compensation plan assets whose impact is fully offset in personnel expense. The increase in asset gains, net was also driven by an increase in equity investment valuations, partially offset by losses on leases.

Noninterest Expense

Table 4 Noninterest Expense

			Nine months ended									Three months ended															QTD % Change vs
(Dollars in thousands)			Sep 30, 2026			Sep 30, 2025			YTD % Change			Sep 30, 2026			Jun 30, 2026			Mar 31, 2026			Dec 31, 2025			Sep 30, 2025			Jun 30, 2026			Sep 30, 2025
Personnel			$	450,054		$	386,593		16		%	$	153,714		$	161,168		$	135,172		$	135,130		$	135,703		(5)		%	13		%
Technology			105,328			82,237			28		%	42,725			32,867			29,736			28,641			28,590			30		%	49		%
Occupancy			43,369			40,782			6		%	15,552			14,091			13,725			14,229			12,757			10		%	22		%
Business development and advertising			25,851			22,496			15		%	9,477			8,548			7,827			9,118			8,362			11		%	13		%
Equipment			16,514			13,389			23		%	5,480			5,423			5,610			6,888			4,368			1		%	25		%
Legal and professional			33,228			17,989			85		%	9,053			17,454			6,721			5,945			5,232			(48)		%	73		%
Loan and foreclosure costs			5,298			6,937			(24)		%	2,039			1,552			1,707			1,327			1,638			31		%	24		%
FDIC assessment			31,234			30,124			4		%	11,802			10,595			8,837			6,589			9,980			11		%	18		%
Other intangible amortization			15,990			6,608			142		%	6,894			6,894			2,203			2,203			2,203			—		%	213		%
Other			24,520			29,017			(15)		%	3,606			13,290			7,625			9,396			7,369			(73)		%	(51)		%
Total noninterest expense			$	751,386		$	636,173		18		%	$	260,342		$	271,882		$	219,163		$	219,466		$	216,202		(4)		%	20		%
Average FTEs excluding overtime			4,173			3,990			5		%	4,259			4,321			3,934			3,919			3,982			(1)		%	7		%
Annualized noninterest expense / average assets			2.04		%	1.96		%				2.00		%	2.13		%	1.97		%	1.96		%	1.95		%

Notable Contributions to the Change in Noninterest Expense

•Personnel expense increased $63.5 million compared to the first nine months of 2025, primarily due to increased recurring costs associated with employees added through the American National acquisition. The increase also reflected nonrecurring severance costs and retention bonuses related to integration activities.

•Technology expense increased $23.1 million compared to the first nine months of 2025, driven by an increase in ongoing subscription costs as well as nonrecurring termination fees for subscriptions associated with the integration of American National.

•Business development and advertising increased $3.4 million compared to the first nine months of 2025, driven by marketing and advertising initiatives and nonrecurring advertising expenses associated with the American National acquisition.

•Equipment expense increased $3.1 million compared to the first nine months of 2025, driven by increased equipment and supplies purchased for newly acquired American National locations and employees.

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•Legal and professional expense increased $15.2 million compared to the first nine months of 2025, primarily due to nonrecurring expenses related to the American National acquisition.

•Other intangible amortization increased $9.4 million compared to the first nine months of 2025, driven by additional amortization related to core deposit intangibles recognized as part of the American National acquisition.

•Other expense decreased $4.5 million compared to the first nine months of 2025, driven by gains on sale of an OREO property and decreased OREO writedowns. These were partially offset by increased card-based expenses due to increased activity as a result of the American National acquisition.

Income Taxes

The Corporation records income tax expense during interim periods based on the best estimate of the full year's effective tax rate as adjusted for discrete items, if any, taken into account in the relevant interim period. Each quarter, the Corporation updates its estimate of the annual effective tax rate and the effect of any change in the estimated rate is recorded on a cumulative basis. The Corporation recognized income tax expense of $112.3 million for the nine months ended September 30, 2026, compared to income tax expense of $77.4 million for the nine months ended September 30, 2025. The Corporation's effective tax rate from continuing operations was 22.37% and 18.64% for the nine months ended September 30, 2026, and 2025, respectively. The increase in income tax expense of $34.9 million and higher effective tax rate during the first nine months of 2026 as compared to the same period of 2025 were primarily due to the net impact of several discrete items from 2025 that resulted in the release of a portion of the valuation allowance, which did not reoccur in 2026. Additionally, the Corporation recognized higher net income before tax for the nine months ended September 30, 2026, which reduced the relative impact of any recurring favorable rate drivers.

Income tax expense recorded on the consolidated statements of income involves the interpretation and application of certain accounting pronouncements and federal and state tax laws and regulations.

The Corporation is subject to examination by various taxing authorities. Examination by taxing authorities may impact the amount of tax expense and/or the reserve for uncertainty in income taxes if their interpretations differ from those of management, based on their judgments about information available to them at the time of their examinations.

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Balance Sheet Analysis

•At September 30, 2026, total assets were $51.4 billion, up $6.2 billion, or 14%, from December 31, 2025.

◦Cash and due from banks were $644.5 million at September 30, 2026, up $69.8 million, or 12%, from December 31, 2025. Interest bearing deposits in other financial institutions were $982.9 million at September 30, 2026, down $161.3 million, or 14%, from December 31, 2025. See the Consolidated Statements of Cash Flows for detailed information on those fluctuations.

◦Available for sale investment securities were $6.2 billion at September 30, 2026, up $801.3 million or 15%, from December 31, 2025. Changes were primarily driven by the acquisition, sale, and reinvestment of the proceeds of the investment securities from the American National acquisition. See Note 3 Business Combinations and Note 6 Investment Securities of the notes to consolidated financial statements for additional detail.

◦Regulatory stocks of $304.3 million at September 30, 2026 were up $51.8 million, or 21%, from December 31, 2025 primarily due to increases in FHLB advances to fund loan growth, which required additional purchases of FHLB stock. Increases in FRB stock were also required due to the increase in capital used to fund the American National acquisition.

◦Loans of $36.5 billion at September 30, 2026 were up $5.4 billion, or 17%, from December 31, 2025 primarily due to the American National acquisition and continued organic growth in the commercial and business lending portfolio. See Note 3 Business Combinations and Note 7 Loans of the notes to consolidated financial statements and Table 5 Period End Loan Composition below for additional detail.

◦Premises and equipment of $447.1 million at September 30, 2026, up $65.5 million, or 17% from December 31, 2025, primarily due to assets acquired from the American National acquisition. Other intangible assets, net of $110.1 million at September 30, 2026, increased $87.2 million, or 382% from December 31, 2025, due to the additional CDI recognized as part of the American National acquisition. See Note 3 Business Combinations of the notes to consolidated financial statements for additional detail.

•At September 30, 2026, total liabilities were $45.9 billion, up $5.7 billion, or 14%, from December 31, 2025.

◦Total deposits of $40.4 billion at September 30, 2026 were up $4.8 billion or 14%, from December 31, 2025. The increase was primarily due to deposits assumed from the American National acquisition as well as organic growth in the customer base. See Note 3 Business Combinations for additional detail.

◦Federal funds purchased and securities sold under agreements to repurchase was $266.3 million at September 30, 2026, down $41.5 million, or 13%, from December 31, 2025. FHLB advances of $4.0 billion at September 30, 2026 were up $693.0 million, or 21%, from December 31, 2025. These changes were primarily driven by funding needs associated with loan growth and a mix shift from federal funds purchased and securities sold under agreements to repurchase to FHLB advances. See Note 9 Short and Long-Term Funding of the notes to consolidated financial statements for additional details.

◦Accrued expenses and other liabilities of $676.9 million at September 30, 2026 were up $213.8 million or 46% from December 31, 2025 primarily due to changes within the customer back-to-back derivative portfolio as a result of interest rate increases.

•At September 30, 2026, the loans to deposits ratio was 90.44%, up from 87.65% at December 31, 2025.

•At September 30, 2026, total stockholders' equity was $5.5 billion, up $500.3 million, or 10%, from December 31, 2025 primarily due to the issuance of additional shares of the Corporation's common stock in connection with the acquisition of American National. This was partially offset by the repurchase of $100.0 million of the Corporation's common stock in association with an accelerated share repurchase agreement executed during the third quarter of 2026.

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Loans

Table 5 Period End Loan Composition

			Sep 30, 2026						Jun 30, 2026						Mar 31, 2026						Dec 31, 2025						Sep 30, 2025
(Dollars in thousands)			Amount			% of Total			Amount			% of Total			Amount			% of Total			Amount			% of Total			Amount			% of Total
Commercial and industrial			$	13,804,140		38		%	$	13,750,175		38		%	$	12,339,597		39		%	$	11,799,757		38		%	$	11,567,651		37		%
Commercial real estate — owner occupied			1,601,925			4		%	1,575,445			4		%	1,193,778			4		%	1,186,324			4		%	1,149,939			4		%
Commercial and business lending			15,406,065			42		%	15,325,620			42		%	13,533,375			43		%	12,986,081			42		%	12,717,590			41		%
Commercial real estate — investor			6,494,991			18		%	6,492,950			18		%	5,266,584			16		%	5,246,030			17		%	5,369,441			17		%
Real estate construction			2,601,571			7		%	2,546,186			7		%	2,117,479			7		%	1,994,642			6		%	1,958,766			6		%
Commercial real estate lending			9,096,562			25		%	9,039,136			25		%	7,384,063			23		%	7,240,672			23		%	7,328,207			24		%
Total commercial			24,502,627			67		%	24,364,756			67		%	20,917,438			66		%	20,226,753			65		%	20,045,797			65		%
Residential mortgage			6,740,214			19		%	6,808,398			19		%	6,727,734			21		%	6,793,957			22		%	6,858,285			22		%
Auto finance			4,093,215			11		%	4,044,416			11		%	3,136,334			10		%	3,106,498			10		%	3,041,644			10		%
Home equity			848,507			2		%	826,343			2		%	706,075			2		%	713,271			2		%	698,112			2		%
Other consumer			335,308			1		%	423,127			1		%	310,583			1		%	323,135			1		%	308,126			1		%
Total consumer			12,017,244			33		%	12,102,284			33		%	10,880,726			34		%	10,936,861			35		%	10,906,167			35		%
Total loans			$	36,519,871		100		%	$	36,467,040		100		%	$	31,798,164		100		%	$	31,163,614		100		%	$	30,951,964		100		%

The Corporation has long-term guidelines relative to the proportion of Commercial and Business, CRE, and Consumer loans within the overall loan portfolio. Furthermore, certain sub-asset classes within the respective portfolios are further defined and dollar limitations are placed on these sub-portfolios. These guidelines and limits are reviewed quarterly and approved annually by the ERC. These guidelines and limits are designed to create balance and diversification within the loan portfolios.

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The Corporation’s loan distribution and interest rate sensitivity as of September 30, 2026 are summarized in the following table:

Table 6 Loan Distribution and Interest Rate Sensitivity

(Dollars in thousands)			Within 1 Year(a)			1-5 Years			5-15 Years			Over 15 Years			Total			% of Total
Fixed rate
Commercial and industrial			$	4,931,587		$	1,416,323		$	340,953		$	16		$	6,688,879		18		%
Commercial real estate — owner occupied			155,423			457,712			67,664			6,840			687,639			2		%
Commercial and business lending			5,087,010			1,874,035			408,617			6,856			7,376,518			20		%
Commercial real estate — investor			675,697			618,093			92,622			5,227			1,391,639			4		%
Real estate construction			352,928			110,462			17,175			9,522			490,087			1		%
Commercial real estate lending			1,028,625			728,555			109,797			14,749			1,881,726			5		%
Total commercial			6,115,635			2,602,590			518,414			21,605			9,258,244			25		%
Residential mortgage			22,103			72,034			290,395			3,874,205			4,258,737			12		%
Auto finance			24,399			2,378,160			1,690,656			—			4,093,215			11		%
Home equity			2,204			4,592			21,871			6,783			35,450			—		%
Other consumer			6,897			31,185			17,174			4,162			59,418			—		%
Total consumer			55,603			2,485,971			2,020,096			3,885,150			8,446,820			23		%
Total fixed rate loans			$	6,171,238		$	5,088,561		$	2,538,510		$	3,906,755		$	17,705,064		48		%
Floating or adjustable rate
Commercial and industrial			$	6,978,317		$	126,010		$	3,325		$	7,609		$	7,115,261		20		%
Commercial real estate — owner occupied			817,005			96,526			755			—			914,286			2		%
Commercial and business lending			7,795,322			222,536			4,080			7,609			8,029,547			22		%
Commercial real estate — investor			4,849,055			250,189			3,753			355			5,103,352			14		%
Real estate construction			2,088,711			22,773			—			—			2,111,484			6		%
Commercial real estate lending			6,937,766			272,962			3,753			355			7,214,836			20		%
Total commercial			14,733,088			495,498			7,833			7,964			15,244,383			42		%
Residential mortgage			242,082			1,038,205			1,201,136			54			2,481,477			7		%
Home equity			784,549			27,884			559			65			813,057			2		%
Other consumer			275,890			—			—			—			275,890			1		%
Total consumer			1,302,521			1,066,089			1,201,695			119			3,570,424			10		%
Total floating or adjustable rate loans			$	16,035,609		$	1,561,587		$	1,209,528		$	8,083		$	18,814,807		52		%
Total loans			$	22,206,847		$	6,650,148		$	3,748,038		$	3,914,838		$	36,519,871		100		%

(a) Demand loans, past due loans, overdrafts, and credit cards are reported in the “Within 1 Year” category.

At September 30, 2026, $25.0 billion, or 68%, of the loans outstanding and $21.4 billion, or 87%, of the commercial loans outstanding were floating rate, adjustable rate, re-pricing within one year, or maturing within one year.

Credit Risk

An active credit risk management process is used for commercial loans to ensure that sound and consistent credit decisions are made. Credit risk is controlled by detailed underwriting procedures, comprehensive loan administration, and periodic review of borrowers’ outstanding loans and commitments. Borrower relationships are formally reviewed and graded on an ongoing basis for early identification of potential problems. Further analysis by customer, industry, and geographic location is performed to monitor trends, financial performance, and concentrations. See Note 7 Loans of the notes to consolidated financial statements for additional information on managing overall credit quality.

The loan portfolio is widely diversified by types of borrowers, industry groups, and market areas primarily within the Corporation's lending footprint. Significant loan concentrations are considered to exist when there are amounts loaned to numerous borrowers engaged in similar activities that would cause them to be similarly impacted by economic or other conditions. At September 30, 2026, no significant concentrations existed in the Corporation’s portfolio in excess of 10% of total loan exposure.

Commercial and business lending: The commercial and business lending classification primarily includes commercial loans to large corporations, middle market companies, small businesses, and asset-based lending and equipment financing.

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Table 7 Largest Commercial and Industrial Industry Group Exposures, by NAICS Subsector

Sep 30, 2026			NAICS Subsector			Outstanding Balance			Total Exposure			% of Total Loan Exposure
(Dollars in thousands)
Utilities(a)			221			$	3,358,896		$	4,252,965		8		%
Real Estate(b)			531			2,429,356			3,985,624			8		%
Credit Intermediation and Related Activities(c)			522			871,105			1,628,221			3		%
Merchant Wholesalers, Durable Goods			423			851,822			1,432,277			3		%
Insurance Carriers and Related Activities			524			488,690			1,025,922			2		%

(a) 72% of the total utilities exposure comes from renewable energy sources (wind, solar, hydroelectric, and geothermal).

(b) 64% of the total real estate exposure comes from REIT lines.

(c) 68% of credit intermediation and related activities exposure comes from mortgage warehouse lines.

The remaining commercial and industrial portfolio is spread over a diverse range of industries, none of which exceed 2% of total loan exposure.

The CRE-owner occupied portfolio is spread over a diverse range of industries, none of which exceed 2% of total loan exposure.

The credit risk related to commercial and business lending is largely influenced by general economic conditions and the resulting impact on a borrower’s operations or on the value of underlying collateral, if any.

Commercial real estate - investor: Commercial real estate - investor is comprised of loans secured by various non-owner occupied or investor income producing property types.

Table 8 Largest Commercial Real Estate - Investor Property Type Exposures

Sep 30, 2026			% of Total Loan Exposure			% of Total Commercial Real Estate - Investor Loan Exposure
Multi-Family			5		%	39		%
Industrial			3		%	24		%
Office			2		%	15		%

The remaining commercial real estate - investor portfolio is spread over various other property types, none of which exceed 2% of total loan exposure.

Credit risk is managed in a similar manner to commercial and business lending by employing sound underwriting guidelines, lending primarily to borrowers in local markets and businesses, periodically evaluating the underlying collateral, and formally reviewing the borrower’s financial soundness and relationship on an ongoing basis.

Real estate construction: Real estate construction loans are primarily short-term or interim loans that provide financing for the acquisition or development of commercial income properties, multi-family projects, or residential development, both single family and condominium. Real estate construction loans are made to developers and project managers who are generally well known to the Corporation and have prior successful project experience. The credit risk associated with real estate construction loans is generally confined to specific geographic areas but is also influenced by general economic conditions. The Corporation controls the credit risk on these types of loans by making loans in familiar markets to developers, reviewing the merits of individual projects, controlling loan structure, and monitoring project progress and construction advances.

Table 9 Largest Real Estate Construction Property Type Exposures

Sep 30, 2026			% of Total Loan Exposure			% of Total Real Estate Construction Loan Exposure
Multi-Family			5		%	47		%
Industrial			2		%	20		%

The remaining real estate construction portfolio is spread over various other property types, none of which exceed 2% of total loan exposure.

The Corporation’s current lending standards for CRE and real estate construction lending are determined by property type and specifically address many criteria, including: maximum loan amounts, maximum LTV, requirements for pre-leasing and/or presales, minimum borrower equity, and maximum loan-to-cost. Currently, the maximum standard for LTV is 80%, with lower limits established for certain higher risk types, such as raw land that has a 50% LTV maximum. Certain loans acquired through business combinations may not adhere to these underwriting standards. The Corporation’s LTV guidelines are in compliance with regulatory supervisory limits. In most cases, for real estate construction loans, the loan amounts include interest reserves, which are built into the loans and sized to fund loan payments through construction and lease up and/or sell out.

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Residential mortgages: Residential mortgage loans are primarily first-lien home mortgages with a maximum loan-to-collateral value without credit enhancement (e.g. private mortgage insurance) of 80%. The residential mortgage portfolio is focused primarily in the Corporation's six-state branch footprint, with approximately 94% of the outstanding loan balances in the Corporation's branch footprint at September 30, 2026. The rates on adjustable rate mortgages adjust based upon the movement in the underlying index which is then added to a margin and rounded to the nearest 0.125%. That result is then subjected to any periodic caps to produce the borrower's interest rate for the coming term. Adjustable rate mortgages are typically offered with an initial fixed rate term of 5, 7 or 10 years.

The Corporation generally retains certain fixed-rate residential real estate mortgages in its loan portfolio, including retail and private banking jumbo mortgages and CRA-related mortgages. As part of management’s historical practice of originating and servicing residential mortgage loans, generally the Corporation’s 30-year, agency conforming, fixed-rate residential real estate mortgage loans have been sold in the secondary market with servicing rights retained. Subject to management’s analysis of the current interest rate environment, among other market factors, the Corporation may choose to retain mortgage loan production on its balance sheet.

The Corporation’s underwriting and risk-based pricing guidelines for residential mortgage loans include minimum borrower FICO score and maximum LTV of the property securing the loan. Residential mortgage products generally are underwritten using FHLMC and FNMA secondary marketing guidelines.

Home equity: Home equity consists of both home equity lines of credit and closed-end home equity loans. The Corporation’s credit risk monitoring guidelines for home equity are based on an ongoing review of loan delinquency status, as well as a quarterly review of FICO score deterioration and property devaluation. The Corporation does not routinely obtain appraisals on performing loans to update LTV ratios after origination; however, the Corporation monitors the local housing markets by reviewing the various home price indices and incorporates the impact of the changing market conditions in its ongoing credit monitoring process. For junior lien home equity loans, the Corporation is unable to track the performance of the first lien loan if it does not own or service the first lien loan. However, the Corporation obtains a refreshed FICO score on a quarterly basis and monitors this as part of its assessment of the home equity portfolio.

The Corporation’s underwriting and risk-based pricing guidelines for home equity lines of credit and loans consist of a combination of both borrower FICO score and the original cumulative LTV against the property securing the loan. Currently, the Corporation's policy sets the maximum acceptable LTV at 90%. Certain loans acquired through business combinations may not adhere to these underwriting standards. The Corporation's current home equity line of credit offering is priced based on floating rate indices and generally allows 10 years of interest-only payments followed by a 20-year amortization of the outstanding balance. The loans in the Corporation's portfolio generally have an original term of 20 years with principal and interest payments required.

Indirect Auto: The Corporation currently purchases retail sales contracts via a network of approved dealerships across 22 states throughout the Northeast, Mid-Atlantic, Midwest, and Great Plains regions of the United States. The dealerships finance the sale of automobiles and other recreational vehicles as the initial lender and then assign the contracts to the Corporation pursuant to dealer agreements. The Corporation’s underwriting and pricing guidelines are based on a dual risk grade derived from a combination of FICO auto score and proprietary internal custom score. Minimum grade and FICO score standards ensure the credit risk is appropriately managed to the Corporation’s risk appetite. Further, the grade influences loan-specific parameters such as vehicle age, term, LTV, loan amount, mileage, payment and debt service thresholds, and pricing. Maximum loan terms offered are 84 months on select grades with vehicle age, mileage, and other limitations in place to qualify. The program is designed to capture primarily prime and super prime contracts. Contracts for other recreational vehicles is a legacy business inherited from the acquisition of American National and is in runoff.

Other consumer: Other consumer consists of credit cards, revolving credit plans, and student loans. Credit risk for other consumer loans is influenced by general economic conditions, the characteristics of individual borrowers, and the nature of the loan collateral. Risks of loss are generally on smaller average balances per loan spread over many borrowers. Once charged off, there is usually less opportunity for recovery of these smaller consumer loans. Credit risk is primarily controlled by reviewing the creditworthiness of the borrowers, monitoring payment histories, and taking appropriate collateral and guarantee positions.

Nonperforming Assets

Management is committed to a proactive nonaccrual and problem loan identification philosophy. This philosophy is implemented through the ongoing monitoring and review of all pools of risk in the loan portfolio to ensure that problem loans are identified quickly and the risk of loss is minimized. Table 10 provides detailed information regarding NPAs, which include nonaccrual loans, OREO, and repossessed assets, and also includes information on accruing loans past due and restructured loans:

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Table 10 Nonperforming Assets

(Dollars in thousands)			Sep 30, 2026			Jun 30, 2026			Mar 31, 2026			Dec 31, 2025			Sep 30, 2025
Nonperforming assets
Commercial and industrial			$	64,960		$	44,388		$	19,606		$	7,178		$	12,802
Commercial real estate — owner occupied			1,658			3,255			34			203			203
Commercial and business lending			66,618			47,643			19,640			7,381			13,006
Commercial real estate — investor			14,115			11,184			8,078			8,311			7,333
Real estate construction			4,533			2,974			25			144			145
Commercial real estate lending			18,648			14,158			8,103			8,455			7,478
Total commercial			85,266			61,801			27,743			15,836			20,484
Residential mortgage			77,924			70,335			66,890			68,492			69,093
Auto finance			12,871			10,973			8,888			8,271			8,218
Home equity			7,320			6,582			6,950			7,774			8,299
Other consumer			55			262			110			55			85
Total consumer			98,170			88,152			82,838			84,592			85,696
Total nonaccrual loans			183,436			149,953			110,581			100,428			106,179
Commercial real estate owned			13,496			28,856			25,530			25,530			27,203
Residential real estate owned			1,583			2,690			3,692			2,414			1,816
Bank properties real estate owned(a)			2,822			2,506			3,312			72			249
OREO			17,901			34,052			32,534			28,016			29,268
Repossessed assets			1,365			1,293			806			757			789
Total nonperforming assets			$	202,702		$	185,298		$	143,921		$	129,201		$	136,236
Accruing loans past due 90 days or more
Commercial			$	7,196		$	565		$	385		$	370		$	395
Consumer(b)			2,233			1,723			2,105			2,444			2,297
Total accruing loans past due 90 days or more			$	9,429		$	2,288		$	2,490		$	2,814		$	2,692
Restructured loans (accruing)
Commercial			$	301		$	367		$	461		$	458		$	458
Consumer			4,823			5,888			5,849			5,584			4,280
Total restructured loans (accruing)			$	5,124		$	6,255		$	6,310		$	6,042		$	4,738
Nonaccrual restructured loans (included in nonaccrual loans)			$	6,291		$	5,068		$	4,424		$	3,472		$	3,899
Ratios
Nonaccrual loans to total loans			0.50		%	0.41		%	0.35		%	0.32		%	0.34		%
NPAs to total loans plus OREO and repossessed assets			0.55		%	0.51		%	0.45		%	0.41		%	0.44		%
NPAs to total assets			0.39		%	0.36		%	0.32		%	0.29		%	0.31		%
Allowance for credit losses on loans to nonaccrual loans			267.60		%	329.75		%	384.36		%	417.56		%	390.49		%
Accruing loans 30-89 days past due
Commercial and industrial			$	3,517		$	10,668		$	24,253		$	2,683		$	1,071
Commercial real estate — owner occupied			139			893			345			34			—
Commercial and business lending			3,656			11,561			24,598			2,717			1,071
Commercial real estate — investor			1,470			3,089			33,487			19,405			14,190
Real estate construction			1,033			1,437			—			117			21
Commercial real estate lending			2,503			4,526			33,487			19,522			14,211
Total commercial			6,159			16,087			58,085			22,239			15,282
Residential mortgage			20,045			14,034			7,755			13,135			12,684
Auto finance			46,182			20,367			14,549			16,445			14,013
Home equity			5,008			4,536			2,742			3,779			4,265
Other consumer(b)			2,382			2,988			2,173			2,704			2,728
Total consumer			73,617			41,925			27,219			36,063			33,689
Total accruing loans 30-89 days past due			$	79,776		$	58,012		$	85,304		$	58,302		$	48,971

(a) Primarily closed branches and other bank operated real estate facilities, pending disposition.

(b) Excluding guaranteed student loans.

Nonaccrual loans: Nonaccrual loans are considered to be one indicator of potential future loan losses. See Note 7 Loans of the notes to consolidated financial statements for additional nonaccrual loan disclosures. See also sections Credit Risk and Allowance for Credit Losses on Loans.

OREO: Management actively seeks to ensure OREO properties held are monitored to minimize the Corporation’s risk of loss.

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Accruing loans past due 90 days or more: Loans past due 90 days or more but still accruing interest are classified as such where the underlying loans are both well-secured (the collateral value is sufficient to cover principal and accrued interest) and are in the process of collection.

Restructured loans: Loans are considered restructured loans if concessions have been granted to borrowers that are experiencing financial difficulty. See also Note 7 Loans of the notes to consolidated financial statements for additional restructured loans disclosures.

Allowance for Credit Losses on Loans

Credit risks within the loan portfolio are inherently different for each loan type. Credit risk is controlled and monitored through the use of lending standards, a thorough review of potential borrowers, and ongoing review of loan payment performance. Active asset quality administration, including early problem loan identification and timely resolution of problems, aids in the management of credit risk and the minimization of loan losses. Credit risk management for each loan type is discussed in the section entitled Credit Risk. See Note 7 Loans of the notes to consolidated financial statements for additional disclosures on the ACLL.

To assess the appropriateness of the ACLL, the Corporation focuses on the evaluation of many factors, including but not limited to: evaluation of facts and issues related to specific loans, management’s ongoing review and grading of the loan portfolio, credit report refreshes, consideration of historical loan loss and delinquency experience on each portfolio category, trends in past due and nonaccrual loans, the risk characteristics of the various classifications of loan segments, changes in the size and character of the loan portfolio, concentrations of loans to specific borrowers or industries, existing economic conditions and economic forecasts, the fair value of underlying collateral, funding assumptions on lines, and other qualitative and quantitative factors which could affect potential credit losses. The forecast the Corporation used for September 30, 2026 was the Moody's baseline scenario from August 2026, which was reviewed against the September 2026 baseline scenario with no material updates made, over a two year reasonable and supportable period with straight-line reversion to historical losses over the second year of the period. Assessing these factors involves significant judgment. Because each of the criteria used is subject to change, the ACLL is not necessarily indicative of the trend of future credit losses on loans in any particular segment. Therefore, management considers the ACLL a critical accounting estimate, see section Critical Accounting Estimates in the Corporation's 2025 Annual Report on Form 10-K for additional information on the ACLL. See section Nonperforming Assets for a detailed discussion on asset quality. See also Note 7 Loans of the notes to consolidated financial statements for additional ACLL disclosures. Table 5 provides information on loan growth and period end loan composition, Table 10 provides additional information regarding NPAs, and Table 11 and Table 12 provide additional information regarding activity in the ACLL.

The loan segmentation used in calculating the ACLL at September 30, 2026 and December 31, 2025 was generally comparable. The methodology to calculate the ACLL consists of the following components: a valuation allowance estimate is established for commercial and consumer loans determined by the Corporation to be individually evaluated, using discounted cash flows, estimated fair value of underlying collateral, and/or other data available. Loans are segmented for criticized loan pools by loan type as well as for non-criticized loan pools by loan type, primarily based on risk rating rates after considering loan type, historical loss and delinquency experience, credit quality, and industry classifications. Loans that have been criticized are considered to have a higher risk of default than non-criticized loans, as circumstances were present to support the lower loan grade, warranting higher loss factors. Additionally, management allocates ACLL to absorb losses that may not be provided for by the other components due to qualitative factors evaluated by management, such as limitations within the credit risk grading process, known current economic or business conditions that may not yet show in trends, industry or other concentrations with current issues that impose higher inherent risks than are reflected in the loss factors, and other relevant considerations. The total allowance is available to absorb losses from any segment of the loan portfolio.

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Table 11 Allowance for Credit Losses on Loans

			YTD									Quarter Ended
(Dollars in thousands)			Sep 30, 2026			Sep 30, 2025						Sep 30, 2026			Jun 30, 2026			Mar 31, 2026			Dec 31, 2025			Sep 30, 2025
Allowance for loan losses
Balance at beginning of period			$	378,068		$	363,545					$	443,729		$	385,756		$	378,068		$	378,341		$	376,515
Provision for loan losses recorded at acquisition			397			—						—			397			—			—			—
Initial allowance for PCD loans			39,512			—						—			39,512			—			—			—
Initial allowance for PSL			28,263			—						—			28,263			—			—			—
Provision for loan losses			41,000			49,500						15,000			13,000			13,000			2,000			15,000
Charge offs			(61,227)			(47,317)						(26,735)			(26,282)			(8,210)			(7,636)			(15,254)
Recoveries			15,111			12,613						9,130			3,083			2,898			5,363			2,081
Net charge offs			(46,116)			(34,704)						(17,605)			(23,199)			(5,312)			(2,273)			(13,173)
Balance at end of period			$	441,124		$	378,341					$	441,124		$	443,729		$	385,756		$	378,068		$	378,341
Allowance for unfunded commitments
Balance at beginning of period			$	41,276		$	38,776					$	50,744		$	39,276		$	41,276		$	36,276		$	35,276
Initial allowance for PCD unfunded commitments			3,597			—						—			3,597			—			—			—
Initial allowance for purchased seasoned unfunded commitments			1,871			—						—			1,871			—			—			—
Provision for unfunded commitments			3,000			(2,500)						(1,000)			6,000			(2,000)			5,000			1,000
Balance at end of period			$	49,744		$	36,276					$	49,744		$	50,744		$	39,276		$	41,276		$	36,276
Allowance for credit losses on loans			$	490,868		$	414,618					$	490,868		$	494,473		$	425,032		$	419,344		$	414,618
Provision for credit losses on loans			44,397			47,000						14,000			19,397			11,000			7,000			16,000
Net (charge offs) recoveries
Commercial and industrial			$	(32,954)		$	(7,782)					$	(12,614)		$	(17,604)		$	(2,736)		$	1,524		$	(1,230)
Commercial real estate — owner occupied			—			—						—			—			—			(113)			—
Commercial and business lending			(32,954)			(7,782)						(12,614)			(17,604)			(2,736)			1,411			(1,230)
Commercial real estate — investor			(2,210)			(18,315)						—			(2,710)			500			94			(8,930)
Real estate construction			7			152						3			2			2			2			2
Commercial real estate lending			(2,203)			(18,163)						3			(2,708)			502			96			(8,928)
Total commercial			(35,157)			(25,945)						(12,611)			(20,312)			(2,234)			1,507			(10,158)
Residential mortgage			(140)			(335)						(91)			(197)			148			(197)			(231)
Auto finance			(6,979)			(3,713)						(3,628)			(1,508)			(1,843)			(2,010)			(1,505)
Home equity			598			582						(92)			251			439			2			56
Other consumer			(4,438)			(5,293)						(1,183)			(1,433)			(1,822)			(1,575)			(1,336)
Total consumer			(10,959)			(8,759)						(4,994)			(2,887)			(3,078)			(3,780)			(3,015)
Total net charge offs			$	(46,116)		$	(34,704)					$	(17,605)		$	(23,199)		$	(5,312)		$	(2,273)		$	(13,173)
Ratios
Allowance for credit losses on loans to total loans												1.34		%	1.36		%	1.34		%	1.35		%	1.34		%
Allowance for credit losses on loans to net charge offs (annualized)			8.0x			8.9x						7.0x			5.3x			19.7x			46.5x			7.9x
Loan evaluation method for ACLL
Individually evaluated for impairment												$	15,671		$	18,624		$	19,919		$	2,992		$	4,518
Collectively evaluated for impairment												475,197			475,849			405,113			416,352			410,100
Total ACLL												$	490,868		$	494,473		$	425,032		$	419,344		$	414,618
Loan balance
Individually evaluated for impairment												$	88,923		$	65,645		$	59,321		$	21,651		$	19,282
Collectively evaluated for impairment												36,430,948			36,401,395			31,738,843			31,141,963			30,932,683
Total loan balance												$	36,519,871		$	36,467,040		$	31,798,164		$	31,163,614		$	30,951,964

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Table 12 Annualized Net (Charge Offs) Recoveries to Average Loans

			YTD									Quarter Ended
(In basis points)			Sep 30, 2026			Sep 30, 2025						Sep 30, 2026			Jun 30, 2026			Mar 31, 2026			Dec 31, 2025			Sep 30, 2025
Net (charge offs) recoveries
Commercial and industrial			(34)			(9)						(37)			(54)			(9)			5			(4)
Commercial real estate — owner occupied			—			—						—			—			—			(4)			—
Commercial and business lending			(31)			(9)						(33)			(48)			(9)			4			(4)
Commercial real estate — investor			(5)			(45)						—			(17)			4			1			(67)
Real estate construction			—			1						—			—			—			—			—
Commercial real estate lending			(3)			(33)						—			(12)			3			1			(49)
Total commercial			(21)			(18)						(21)			(34)			(4)			3			(20)
Residential mortgage			—			(1)						(1)			(1)			1			(1)			(1)
Auto finance			(25)			(17)						(35)			(15)			(24)			(26)			(20)
Home equity			10			12						(4)			12			25			—			3
Other consumer			(163)			(229)						(129)			(138)			(235)			(200)			(173)
Total consumer			(12)			(11)						(16)			(9)			(11)			(14)			(11)
Total net charge offs			(18)			(15)						(19)			(26)			(7)			(3)			(17)

Notable Contributions to the Change in the Allowance for Credit Losses on Loans

•Total nonaccrual loans increased $83.0 million, or 83%, from December 31, 2025, and increased $77.3 million, or 73%, from September 30, 2025. The increase from December 31, 2025 was primarily driven by an organic increase in commercial and industrial, residential mortgage, and auto finance lending, partially offset by a decrease in home equity. Additionally, nonaccrual loans acquired from American National contributed to the increase. The increase from September 30, 2025 was primarily driven by organic increases in commercial and industrial, residential mortgage, CRE - investor, and auto finance lending, partially offset by a decrease in home equity. Additionally, nonaccrual loans acquired from American National contributed to the increase. See Note 7 Loans of the notes to consolidated financial statements and Table 10 for additional disclosures on the changes in asset quality.

•YTD net charge offs increased $11.4 million from September 30, 2025, primarily driven by net charge offs of loans acquired from American National. See Table 11 and Table 12 for additional information on the activity in the ACLL.

Management believes the level of ACLL to be appropriate at September 30, 2026.

Deposits and Customer Funding

The following table summarizes the composition of our deposits and customer funding:

Table 13 Period End Deposit and Customer Funding Composition

			Sep 30, 2026						Jun 30, 2026						Mar 31, 2026						Dec 31, 2025						Sep 30, 2025
(Dollars in thousands)			Amount			% of Total			Amount			% of Total			Amount			% of Total			Amount			% of Total			Amount			% of Total
Noninterest-bearing demand			$	6,914,688		17		%	$	6,908,338		17		%	$	6,125,067		17		%	$	6,126,632		17		%	$	5,906,251		17		%
Savings			6,216,008			15		%	6,171,614			15		%	5,660,641			16		%	5,471,870			15		%	5,380,574			15		%
Interest-bearing demand			9,096,012			23		%	8,697,879			22		%	7,964,665			22		%	7,823,362			22		%	7,791,861			22		%
Money market			7,655,206			19		%	7,614,164			19		%	6,188,045			17		%	6,139,438			17		%	5,785,871			17		%
Network transaction deposits			1,745,224			4		%	1,823,130			5		%	1,746,518			5		%	2,154,995			6		%	2,013,964			6		%
Brokered CDs			3,790,075			9		%	3,933,787			10		%	3,562,752			10		%	3,795,133			11		%	3,956,517			11		%
Other time deposits			4,963,737			13		%	4,782,343			12		%	4,484,077			13		%	4,041,178			11		%	4,046,815			12		%
Total deposits			$	40,380,950		100		%	$	39,931,255		100		%	$	35,731,765		100		%	$	35,552,608		100		%	$	34,881,853		100		%
Other customer funding(a)			66,124						55,371						42,372						47,794						64,570
Total deposits and other customer funding			$	40,447,074					$	39,986,626					$	35,774,137					$	35,600,402					$	34,946,423
Less: Total network transaction deposits and brokered CDs			5,535,299						5,756,917						5,309,270						5,950,128						5,970,481
Core customer deposits(b) and other customer funding			$	34,911,775					$	34,229,709					$	30,464,867					$	29,650,274					$	28,975,941
Time deposits of more than $250,000			1,133,822						1,073,890						956,299						834,309						832,718

(a) Includes repurchase agreements.

(b) This is a non-GAAP financial measure. See Table 19 Non-GAAP Measures for a reconciliation to GAAP financial measures.

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•Total deposits, which are the Corporation's largest source of funds, increased $4.8 billion, or 14% from December 31, 2025, and increased $5.5 billion, or 16%, from September 30, 2025. The increases from December 31, 2025 and September 30, 2025, were driven by the American National acquisition as well as organic growth in the customer base causing increases in all deposit categories, except network transaction deposits and brokered CDs.

•Estimated uninsured and uncollateralized deposits, excluding intercompany deposits, were 27.3% of total deposits at September 30, 2026 compared to 26.5% at December 31, 2025, and 24.9% at September 30, 2025. The increase was primarily driven by an increase in uninsured balances in business deposit accounts.

Liquidity

The objective of liquidity risk management is to ensure that the Corporation has the ability to generate sufficient cash or cash equivalents in a timely and cost-effective manner to satisfy the cash flow requirements of depositors and borrowers and to meet its other commitments as they become due. The Corporation’s liquidity risk management process is designed to identify, measure, and manage the Corporation’s funding and liquidity risk to meet its daily funding needs in the ordinary course of business, as well as to address expected and unexpected changes in its funding requirements. The Corporation engages in various activities to manage its liquidity risk, including diversifying its funding sources, stress testing, and holding readily-marketable assets which can be used as a source of liquidity, if needed.

The Corporation performs dynamic scenario analysis in accordance with industry best practices. Measures have been established to ensure the Corporation has sufficient high quality short-term liquidity to meet cash flow requirements under stressed scenarios. In addition, the Corporation also reviews static measures such as deposit funding as a percent of total assets and liquid asset levels. Strong capital ratios, credit quality, and core earnings are also essential to maintaining cost effective access to wholesale funding markets. At September 30, 2026, the Corporation was in compliance with its internal liquidity objectives and had sufficient asset-based liquidity to meet its obligations even under a stressed scenario.

The Corporation maintains diverse and readily available liquidity sources, including:

•Lines of credit with the Federal Reserve Bank and FHLB, which require eligible loan and investment collateral to be pledged. Based on the amount of collateral pledged, the FHLB established a collateral value from which the Bank may draw advances, and issue letters of credit in favor of public fund depositors, against the collateral. As of September 30, 2026, the Bank had $5.7 billion available for future funding. The Federal Reserve Bank also establishes a collateral value of assets to support borrowings from the discount window. As of September 30, 2026, the Bank had $6.5 billion available for discount window borrowings.

•Issuances by the Parent Company; the Corporation maintains on file with the SEC a universal shelf registration statement, under which the Parent Company may offer the following securities, either separately or in units: debt securities, preferred stock, depositary shares, common stock, and warrants.

•Bank issuances; the Bank may also issue institutional CDs, network transaction deposits, and brokered CDs.

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The following table presents secured and total available liquidity sources, estimated uninsured and uncollateralized deposits (excluding intercompany deposits), and coverage of estimated uninsured and uncollateralized deposits.

Table 14 Liquidity Sources and Uninsured Deposit Coverage Ratio

(Dollars in thousands)			Sep 30, 2026			Jun 30, 2026			Mar 31, 2026			Dec 31, 2025			Sep 30, 2025
Federal Reserve Bank balance			$	980,172		$	1,265,738		$	915,691		$	1,139,401		$	799,991
Available FHLB Chicago capacity			5,723,111			5,330,837			5,574,246			6,221,495			5,943,747
Available Federal Reserve Bank discount window capacity			6,458,767			6,387,365			6,506,759			6,443,766			5,725,892
Funding available within one business day(a)			13,162,050			12,983,940			12,996,696			13,804,662			12,469,630
Available federal funds lines			2,236,000			1,967,000			1,981,000			1,846,000			1,419,000
Available brokered deposits capacity(b)			2,174,679			2,014,958			1,529,791			823,055			697,898
Unsecured debt capacity(c)			1,000,000			1,000,000			1,000,000			1,000,000			1,000,000
Total available liquidity			$	18,572,729		$	17,965,898		$	17,507,487		$	17,473,717		$	15,586,528
Uninsured and uncollateralized deposits			$	11,028,439		$	10,590,229		$	9,178,436		$	9,432,066		$	8,697,563
Coverage ratio of uninsured and uncollateralized deposits with secured funding available within one business day			119		%	123		%	142		%	146		%	143		%
Coverage ratio of uninsured and uncollateralized deposits with total funding			168		%	170		%	191		%	185		%	179		%

(a) Estimated based on normal course of operations with indicated institution.

(b) Availability based on internal policy limitations. The Corporation includes outstanding deposits that have received a primary purpose exemption in the brokered deposit classification as they have similar funding characteristics and risk as brokered deposits.

(c) Estimated availability based on the Corporation's current internal funding considerations.

Based on contractual obligations and ongoing operations, the Corporation's sources of liquidity are sufficient to meet present and future liquidity needs. See Table 17 for information about the Corporation's contractual obligations and other commitments. See section Deposits and Customer Funding for information about uninsured deposits and concentrations.

Credit ratings impact the Corporation's ability to issue debt securities and the cost to borrow money. Adverse changes in credit ratings impact not only the ability to raise funds in the capital markets but also the cost of these funds. For additional information regarding risks related to adverse changes in our credit ratings, see Part I, Item 1A, Risk Factors in the Corporation's Annual Report on Form 10-K for the year ended December 31, 2025.

For the nine months ended September 30, 2026, net cash provided by operating and financing activities was $672.2 million and $623.6 million, respectively, while investing activities used net cash of $1.4 billion, for a net decrease in cash and cash equivalents of $92.8 million since year-end 2025. At September 30, 2026, assets of $51.4 billion increased $6.2 billion, or 14%, from year-end 2025. On the funding side, deposits of $40.4 billion increased $4.8 billion, or 14% from year-end 2025, short-term funding decreased $41.5 million, or 13%, and FHLB advances increased $693.0 million or 21%.

For the nine months ended September 30, 2025, net cash provided by operating and financing activities was $397.6 million and $1.1 billion, respectively, while investing activities used net cash of $1.2 billion, for a net increase in cash and cash equivalents of $273.2 million since year-end 2024. At September 30, 2025, assets of $44.5 billion increased $1.4 billion, or 3%, from year-end 2024. On the funding side, deposits of $34.9 billion increased $233.4 million, or 1%, from year-end 2024, short-term funding decreased $70.7 million, or 15%, and FHLB advances increased $1.4 billion, or 74%, and senior and subordinated debt decreased $243.6 million, or 29%.

Quantitative and Qualitative Disclosures about Market Risk

Market risk and interest rate risk are managed centrally. Market risk is the potential for loss arising from adverse changes in the fair value of fixed-income securities, equity securities, other earning assets, and derivative financial instruments as a result of changes in interest rates or other factors. Interest rate risk is the potential for reduced net interest income resulting from adverse changes in the level of interest rates. As a financial institution that engages in transactions involving an array of financial products, the Corporation is exposed to both market risk and interest rate risk. In addition to market risk, interest rate risk is measured and managed through a number of methods. The Corporation uses financial modeling simulation techniques that measure the sensitivity of future earnings due to changing rate environments to measure interest rate risk.

Policies established by the Corporation’s ALCO and approved by the Board of Directors are intended to limit these risks. The Board has delegated day-to-day responsibility for managing market and interest rate risk to ALCO. The primary objectives of market risk management are to minimize any adverse effect that changes in market risk factors may have on net interest income and to offset the risk of price changes for certain assets recorded at fair value.

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Interest Rate Risk

The primary goal of interest rate risk management is to control exposure to interest rate risk within policy limits approved by the Board of Directors. These limits and guidelines reflect the Corporation's risk appetite for interest rate risk over both short-term and long-term horizons.

The major sources of the Corporation's non-trading interest rate risk are timing differences in the maturity and re-pricing characteristics of assets and liabilities, changes in the shape of the yield curve, and the potential exercise of explicit or embedded options. We measure these risks and their impact by identifying and quantifying exposures through the use of sophisticated simulation and valuation models which are employed by management to understand interest rate sensitive EAR and MVE at risk. The Corporation’s interest rate risk profile is such that, generally, a higher yield curve adds to income while a lower yield curve has a negative impact on earnings. The Corporation's EAR profile is asset sensitive at September 30, 2026.

For further discussion of the Corporation's interest rate risk and corresponding key assumptions, see the Interest Rate Risk section of Management’s Discussion and Analysis of Financial Condition and Results of Operations included in the Corporation’s 2025 Annual Report on Form 10-K.

The sensitivity analysis included below is measured as a percentage change in EAR due to gradual moves in benchmark interest rates from a baseline scenario over 12 months. We evaluate the sensitivity using: 1) a dynamic forecast incorporating expected growth in the balance sheet, and 2) a static forecast where the current balance sheet is held constant.

While a gradual shift in interest rates was used in this analysis to provide an estimate of exposure under a probable scenario, an instantaneous shift in interest rates would have a more significant impact. No EAR breaches occurred during the first nine months of 2026.

Table 15 Estimated % Change in Rate Sensitive Earnings at Risk Over 12 Months

			Sep 30, 2026						Dec 31, 2025
			Dynamic Forecast			Static Forecast			Dynamic Forecast			Static Forecast
Gradual Rate Change
100 bp increase in interest rates			1.8		%	1.9		%	1.5		%	2.0		%
200 bp increase in interest rates			3.5		%	3.7		%	2.8		%	3.9		%
100 bp decrease in interest rates			(1.1)		%	(1.3)		%	(0.8)		%	(1.4)		%
200 bp decrease in interest rates			(2.3)		%	(2.5)		%	(2.2)		%	(3.4)		%

At September 30, 2026, the MVE profile indicates a decrease in net balance sheet value due to instantaneous upward changes in rates and an increase in net balance sheet value due to instantaneous downward changes in rates.

Table 16 Market Value of Equity Sensitivity

			Sep 30, 2026			Dec 31, 2025
Instantaneous Rate Change
100 bp increase in interest rates			(5.7)		%	(5.2)		%
200 bp increase in interest rates			(12.1)		%	(11.8)		%
100 bp decrease in interest rates			4.3		%	2.3		%
200 bp decrease in interest rates			6.3		%	1.4		%

Since MVE measures the discounted present value of cash flows over the estimated lives of instruments, the change in MVE does not directly correlate to the degree that earnings would be impacted over a shorter time horizon (i.e., the current year). Further, MVE does not take into account factors such as future balance sheet growth, changes in product mix, changes in yield curve relationships, and changes in product spreads that could mitigate the adverse impact of changes in interest rates.

The above EAR and MVE measures do not include all actions that management may undertake to manage this risk in response to anticipated changes in interest rates.

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Contractual Obligations, Commitments, Off-Balance Sheet Arrangements, and Contingent Liabilities

The following table summarizes significant contractual obligations and other commitments at September 30, 2026, at those amounts contractually due to the recipient, including any unamortized premiums or discounts, hedge basis adjustments, or other similar carrying value adjustments.

Table 17 Contractual Obligations and Other Commitments

(in thousands)			One Year or Less			One to Three Years			Three to Five Years			Over Five Years			Total
Time deposits			$	8,498,819		$	235,323		$	19,618		$	52		$	8,753,812
Federal funds purchased and securities sold under agreements to repurchase			266,329			—			—			—			266,329
FHLB advances			3,757,342			202,278			1,492			—			3,961,112
Senior and subordinated debt			—			—			298,636			290,532			589,168
Operating leases			5,738			9,258			7,195			16,446			38,637
Total			$	12,528,228		$	446,859		$	326,941		$	307,030		$	13,609,058

The Corporation also has obligations under its derivatives, lending-related commitments, and retirement plans as described in Note 10 Derivative and Hedging Activities, Note 12 Commitments, Off-Balance Sheet Arrangements, and Legal Proceedings, and Note 14 Retirement Plans of the notes to consolidated financial statements, respectively. Further discussion of the nature of federal funds purchased and securities sold under agreements to repurchase, FHLB advances, and senior and subordinated debt is included in Note 9 Short and Long-Term Funding of the notes to consolidated financial statements.

Capital

Management actively reviews capital strategies for the Corporation and each of its subsidiaries in light of perceived business risks, future growth opportunities, industry standards, and compliance with regulatory requirements. The assessment of overall capital adequacy depends on a variety of factors, including asset quality, liquidity, stability of earnings, changing competitive forces, economic conditions in markets served, and strength of management. At September 30, 2026, the capital ratios of the Corporation and its banking subsidiaries were in excess of regulatory minimum requirements. The Corporation’s capital ratios are summarized in the following table.

Table 18 Capital Ratios

			YTD									Quarter Ended
(Dollars in thousands)			Sep 30, 2026			Sep 30, 2025						Sep 30, 2026			Jun 30, 2026			Mar 31, 2026			Dec 31, 2025			Sep 30, 2025
Risk-based capital(a)
CET1(b)												$	4,315,910		$	4,304,915		$	3,744,610		$	3,683,711		$	3,584,712
Tier 1 capital												4,510,022			4,499,027			3,938,722			3,877,823			3,778,824
Total capital												5,272,486			5,259,164			4,657,925			4,593,079			4,488,957
Total risk-weighted assets												41,587,042			41,108,330			35,773,810			35,125,680			34,688,358
CET1 capital ratio(b)												10.38		%	10.47		%	10.47		%	10.49		%	10.33		%
Tier 1 capital ratio												10.84		%	10.94		%	11.01		%	11.04		%	10.89		%
Total capital ratio												12.68		%	12.79		%	13.02		%	13.08		%	12.94		%
Tier 1 leverage ratio												8.94		%	8.99		%	8.98		%	8.96		%	8.81		%
Selected equity and performance ratios
Total stockholders’ equity / total assets												10.65		%	10.88		%	10.96		%	11.01		%	10.95		%
Average stockholders' equity / average assets			11.02		%	10.91		%				10.96		%	10.98		%	11.12		%	11.05		%	10.95		%
Tangible common equity / tangible assets (TCE Ratio)(c)												8.03		%	8.27		%	8.27		%	8.29		%	8.18		%

(a) The Federal Reserve establishes regulatory capital requirements, including well-capitalized standards, for the Corporation. The regulatory capital requirements effective for the Corporation follow Basel III, subject to certain transition provisions.

(b) The Corporation is not classified as an advanced approaches holding company as defined by the Federal Reserve. As such, the Corporation has elected to be subject to the AOCI-related adjustments when calculating CET1 capital which allows the Corporation to opt-out of the requirement to include most components of AOCI in CET1 capital.

(c) This is a non-GAAP financial measure. See Table 19 Non-GAAP Measures for a reconciliation to GAAP financial measures.

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Compliance with regulatory minimum capital requirements is a tool used in assessing the Corporation's capital adequacy, but not determinative of how the Corporation would fare under extreme stress. Factors that may affect the adequacy of the Corporation's capital include the inherent limitations of fair value estimates and the assumptions thereof, the inherent limitations of the regulatory risk-weights assigned to various asset types, the inherent limitations of accounting classifications of certain investments and the effect on their measurement, external macroeconomic conditions and their effects on capital and the Corporation's ability to raise capital or refinance capital commitments, and the extent of steps taken by state or federal government authorities in periods of extreme stress.

For additional information regarding the potential for additional regulation and supervision, see Part I, Item 1A, Risk Factors in the Corporation’s Annual Report on Form 10-K for the year ended December 31, 2025.

See Part II, Item 2, Unregistered Sales of Equity Securities and Use of Proceeds, for information on the shares repurchased during the third quarter of 2026.

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Non-GAAP Measures

Table 19 Non-GAAP Measures

			YTD						Quarter Ended
(Dollars in thousands)			Sep 30, 2026			Sep 30, 2025			Sep 30, 2026			Jun 30, 2026			Mar 31, 2026			Dec 31, 2025			Sep 30, 2025
Tangible common equity reconciliation
Common equity									$	5,281,520		$	5,444,011		$	4,803,760		$	4,781,235		$	4,674,186
Less: Goodwill and other intangible assets, net									1,257,140			1,264,034			1,125,639			1,127,842			1,130,044
Tangible common equity for TBV / share and TCE Ratio									$	4,024,380		$	4,179,977		$	3,678,121		$	3,653,393		$	3,544,142
Tangible assets reconciliation
Total assets									$	51,399,852		$	51,812,506		$	45,593,740		$	45,202,596		$	44,455,863
Less: Goodwill and other intangible assets, net									1,257,140			1,264,034			1,125,639			1,127,842			1,130,044
Tangible assets for TCE Ratio									$	50,142,712		$	50,548,472		$	44,468,101		$	44,074,754		$	43,325,819
Average tangible common equity reconciliation
Average common equity			$	5,238,946		$	4,534,716		$	5,463,396		$	5,433,872		$	4,812,415		$	4,713,445		$	4,627,038
Less: Average goodwill and other intangible assets, net			1,218,896			1,133,517			1,260,592			1,267,876			1,126,748			1,129,055			1,131,385
Average tangible common equity for ROATCE			$	4,020,050		$	3,401,200		$	4,202,804		$	4,165,996		$	3,685,667		$	3,584,390		$	3,495,653
Average tangible assets reconciliation
Average total assets			$	49,308,932		$	43,360,369		$	51,599,690		$	51,235,842		$	45,018,948		$	44,402,771		$	44,015,203
Less: Average goodwill and other intangible assets, net			1,218,896			1,133,517			1,260,592			1,267,876			1,126,748			1,129,055			1,131,385
Average tangible assets for return on average tangible assets			$	48,090,036		$	42,226,853		$	50,339,098		$	49,967,966		$	43,892,200		$	43,273,716		$	42,883,818
Adjusted net income reconciliation
Net income			$	389,785		$	337,648		$	146,586		$	123,564		$	119,635		$	137,129		$	124,732
Other intangible amortization, net of tax			11,993			4,956			5,170			5,170			1,652			1,652			1,652
Adjusted net income for return on average tangible assets			$	401,778		$	342,604		$	151,756		$	128,734		$	121,287		$	138,781		$	126,384
Adjusted net income available to common equity reconciliation
Net income available to common equity			$	381,160		$	329,023		$	143,711		$	120,689		$	116,760		$	134,254		$	121,857
Other intangible amortization, net of tax			11,993			4,956			5,170			5,170			1,652			1,652			1,652
Adjusted net income available to common equity for ROATCE			$	393,153		$	333,979		$	148,881		$	125,859		$	118,412		$	135,906		$	123,509
Period end core customer deposits reconciliation
Total deposits									$	40,380,950		$	39,931,255		$	35,731,765		$	35,552,608		$	34,881,853
Less: Network transaction deposits									1,745,224			1,823,130			1,746,518			2,154,995			2,013,964
Less: Brokered CDs									3,790,075			3,933,787			3,562,752			3,795,133			3,956,517
Core customer deposits									$	34,845,651		$	34,174,338		$	30,422,495		$	29,602,480		$	28,911,371
Average core customer deposits reconciliation
Average total deposits			$	38,857,679		$	34,580,383		$	40,966,074		$	40,382,227		$	35,160,943		$	35,628,917		$	34,705,887
Less: Average network transaction deposits			1,888,746			1,875,523			1,869,045			1,879,876			1,917,854			2,090,587			1,933,659
Less: Average brokered CDs			3,834,723			4,105,700			3,920,540			4,085,995			3,528,294			3,998,012			3,916,329
Average core customer deposits			$	33,134,210		$	28,599,160		$	35,176,489		$	34,416,356		$	29,714,795		$	29,540,318		$	28,855,899
Total expense for efficiency ratios reconciliation
Noninterest expense			$	751,386		$	636,173		$	260,342		$	271,882		$	219,163		$	219,466		$	216,202
Less: Other intangible amortization			15,990			6,608			6,894			6,894			2,203			2,203			2,203
Total expense for fully tax-equivalent efficiency ratio			735,396			629,565			253,448			264,988			216,960			217,263			213,999
Less: Acquisition costs(a)			38,734			—			13,258			24,469			1,007			252			—
Total expense for adjusted efficiency ratio			$	696,662		$	629,565		$	240,190		$	240,519		$	215,953		$	217,011		$	213,999
Total revenue for efficiency ratios reconciliation
Net interest income			$	1,054,479		$	891,163		$	377,251		$	370,039		$	307,190		$	309,981		$	305,222
Noninterest income			243,387			207,019			87,131			80,398			75,857			79,384			81,265
Less: Investment securities (losses) gains, net			(40)			13			(46)			35			(28)			37			1
Fully tax-equivalent adjustment			12,365			12,705			4,086			4,139			4,139			4,196			4,222
Total revenue for fully tax-equivalent efficiency ratio			1,310,271			1,110,874			468,514			454,541			387,214			393,524			390,708
Less: Announced initiatives(b)			—			(6,976)			—			—			—			—			—
Total revenue for adjusted efficiency ratio			$	1,310,271		$	1,117,850		$	468,514		$	454,541		$	387,214		$	393,524		$	390,708

(a) During the fourth quarter of 2025, the Corporation entered into a definitive agreement to acquire American National. The acquisition was completed on April 1, 2026. These costs, incurred in connection with the acquisition, represent nonrecurring costs.

(b) Announced initiatives include the loss on mortgage portfolio sale as a result of balance sheet repositioning that the Corporation announced in the fourth quarter of 2024.

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Sequential Quarter Results

The Corporation reported net income of $146.6 million for the third quarter of 2026, compared to a net income of $123.6 million for the second quarter of 2026. Net income available to common equity was $143.7 million for the third quarter of 2026, or $0.77 and $0.76 for basic and diluted earnings per common share, respectively. Comparatively, the net income available to common equity for the second quarter of 2026 was $120.7 million, or $0.64 and $0.63 for basic and diluted earnings per common share, respectively.

Fully tax-equivalent net interest income for the third quarter of 2026 was $381.3 million, $7.2 million, or 2%, higher than the second quarter of 2026. The increase in net interest income was driven by growth in average loans and an improved interest rate spread aided by the favorable shifts in asset and deposit mix. The net interest margin in the third quarter of 2026 and second quarter of 2026 were 3.20% and 3.17%, respectively.

Average earning assets increased $215.9 million to $47.5 billion in the third quarter of 2026. Driven primarily by growth in commercial and industrial and real estate construction offset by decreases in CRE-owner occupied and residential mortgage, average loans increased $326.8 million, or 1%. Average investments decreased $110.9 million, or 1% as portfolio runoff exceeded reinvestment activity. On the funding side, average total interest-bearing deposits increased $274.6 million, or 1%, primarily driven by growth in interest-bearing demand and savings offset by a reduction in brokered CDs. Due to decreases in FHLB advances and federal funds purchased as growth in lower-cost funding sources, including noninterest-bearing demand deposits, reduced our reliance on wholesale funding sources, average other funding decreased $311.2 million, or 6%.

The provision for credit losses was $14.0 million for the third quarter of 2026 and $19.4 million for the second quarter of 2026. This was due to a decrease in our allowance for unfunded commitments, nominal credit movement, and general macroeconomic trends. See discussion under sections: Provision for Credit Losses, Nonperforming Assets, and Allowance for Credit Losses on Loans.

Noninterest income for the third quarter of 2026 was $87.1 million, up $6.7 million, or 8% from the second quarter of 2026. This is due to an increase in capital markets, net due to higher syndication fee revenue. Additionally, there were increased earnings from our private equity investments in the third quarter of 2026.

Noninterest expense for the third quarter of 2026 was $260.3 million, down $11.5 million, or 4% from the second quarter of 2026. This was primarily driven by lower expenses related to the American National acquisition and a gain on sale of an OREO asset in the third quarter of 2026.

For the third quarter of 2026, the Corporation recognized income tax expense of $43.4 million, compared to an income tax expense of $35.6 million for the second quarter of 2026. The increase in expense from the second quarter of 2026 was primarily attributable to an increase in net income.

Comparable Quarter Results

The Corporation reported net income of $146.6 million for the third quarter of 2026, compared to net income of $124.7 million for the third quarter of 2025. Net income available to common equity was $143.7 million for the third quarter of 2026, or $0.77 and $0.76 for basic and diluted earnings per common share, respectively. Comparatively, net income available to common equity for the third quarter of 2025 was $121.9 million, or $0.73 for both basic and diluted earnings per common share.

Fully tax-equivalent net interest income for the third quarter of 2026 was $381.3 million, $71.9 million, or 23%, higher than the third quarter of 2025. The increase in net interest income was primarily driven by growth from the American National acquisition, along with an improved interest rate spread driven by a reduction in funding costs that outpaced the decline in earning asset yields in the lower interest rate environment. The net interest margin in the third quarter of 2026 and third quarter of 2025 was 3.20% and 3.04%, respectively.

Average earning assets increased $6.9 billion, or 17%, to $47.5 billion in the third quarter of 2026. Average loans increased $5.4 billion, or 18% and average investments increased $1.5 billion, or 15%, primarily due to the American National transaction. In addition to the acquisition, average loans benefited from continued organic growth in commercial and industrial lending and real estate construction. On the funding side, average interest-bearing deposits increased $4.7 billion, or 16%, from the third quarter of 2025, primarily due to the American National acquisition. Interest-bearing deposits also reflected organic growth across deposit categories, partially offset by decreases in network transaction deposits and brokered CDs. Average other funding increased $470.1 million, or 12%, primarily due to increases in FHLB advances and federal funds purchased used to support loan growth.

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The provision for credit losses was $14.0 million for the third quarter of 2026, compared to a provision of $16.0 million for the third quarter of 2025. This was primarily due to a decrease in the allowance for unfunded commitments. See discussion under sections: Provision for Credit Losses, Nonperforming Assets, and Allowance for Credit Losses on Loans.

Noninterest income for the third quarter of 2026 was $87.1 million, up $5.9 million, or 7%, compared to the third quarter of 2025. This is primarily due to an increase in income from service charges and deposit account fees and card-based fees driven substantially by the American National acquisition.

Noninterest expense for the third quarter of 2026 was $260.3 million, up $44.1 million, or 20%, from the third quarter of 2025. The increase was primarily attributable to the acquisition of American National, including higher personnel costs resulting from increased salaries, health care costs and incentive compensation, increased technology expense primarily related to contract termination costs and subscription fees, higher occupancy expense associated with building maintenance and repairs, and increased amortization expense of the additional CDI recognized as part of the acquisition. These increases were partially offset by a lower other noninterest expense, primarily due to a gain on the sale of an OREO property recognized in the third quarter of 2026.

The Corporation recognized income tax expense of $43.4 million for the third quarter of 2026, compared to income tax expense of $29.6 million for the third quarter of 2025. The increase was primarily due to the increase in net income in the third quarter of 2026 as compared to the third quarter of 2025 reducing the related impact of the Corporation's favorable rate drivers.

Segment Review

The reportable segments are Corporate and Commercial Specialty; Community, Consumer and Business; and Risk Management and Shared Services. The financial information of the Corporation’s segments was compiled utilizing the accounting policies described in the Corporation’s 2025 Annual Report on Form 10-K and Note 15 Segment Reporting of the notes to consolidated financial statements.

Table 20 Selected Segment Financial Data

			Three Months Ended Sep 30,									Nine Months Ended Sep 30,
(Dollars in thousands)			2026			2025			% Change			2026			2025			% Change
Corporate and Commercial Specialty
Total revenue			$	183,227		$	157,115		17%			$	497,351		$	448,710		11%
Provision for credit losses			19,776			20,424			(3)%			61,723			59,806			3%
Noninterest expense			57,874			57,032			1%			166,004			169,187			(2)%
Income tax expense			19,461			15,055			29%			49,134			41,053			20%
Net income			86,116			64,604			33%			220,490			178,662			23%
Average earning assets			21,491,767			17,716,834			21%			20,296,503			17,409,553			17%
Average loans			21,486,063			17,695,432			21%			20,288,345			17,394,587			17%
Average deposits			9,123,286			7,121,719			28%			8,331,368			7,095,533			17%
Community, Consumer, and Business
Total revenue			$	301,380		$	267,836		13%			$	842,196		$	788,618		7%
Provision for credit losses			6,695			6,437			4%			20,086			18,871			6%
Noninterest expense			176,174			159,170			11%			506,658			466,985			8%
Income tax expense			24,887			21,468			16%			66,346			63,580			4%
Net income			93,624			80,761			16%			249,106			239,182			4%
Average earning assets			14,280,845			12,580,401			14%			13,749,605			12,587,872			9%
Average loans			14,277,435			12,576,991			14%			13,746,195			12,584,461			9%
Average deposits			24,926,952			21,470,102			16%			23,920,928			21,317,239			12%
Risk Management and Shared Services
Total net revenue			$	(20,225)		$	(38,464)		(47)%			$	(41,681)		$	(139,146)		(70)%
Provision for credit losses			(12,466)			(10,861)			15%			(37,415)			(31,678)			18%
Noninterest expense			26,294			—			N/M			78,724			—			N/M
Income tax benefit			(899)			(6,969)			(87)%			(3,179)			(27,271)			(88)%
Net loss			(33,154)			(20,634)			61%			(79,811)			(80,196)			—%
Average earning assets			11,730,544			10,265,029			14%			11,356,089			9,980,565			14%
Average loans			433,537			478,037			(9)%			433,057			474,442			(9)%
Average deposits			6,915,836			6,114,066			13%			6,605,383			6,167,611			7%

N/M = Not meaningful

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Notable Changes in Segment Financial Data

Corporate and Commercial Specialty

•Total revenue and net income increased $48.6 million and $41.8 million respectively from the nine months ended September 30, 2025, attributable to organic growth in commercial and business lending as well as the inclusion of operating results from the recent acquisition of American National.

•Average earning assets and average loans increased $2.9 billion compared to the nine months ended September 30, 2025, primarily driven by the acquisition of American National and continued organic growth in commercial and industrial lending.

•Average deposits increased $1.2 billion from the nine months ended September 30, 2025 due to increases in all major deposit types primarily through the acquisition of American National.

Community, Consumer, and Business

•Average earning assets and average loans both increased by $1.2 billion from the nine months ended September 30, 2025, driven by the acquisition of American National loans with the majority being auto finance loans.

•Average deposits increased $2.6 billion from the nine months ended September 30, 2025, driven by increases in all deposit types through the acquisition of American National and organic growth across all deposit categories excluding brokered CDs and network transaction deposits.

Risk Management and Shared Services

•Total net revenue increased $97.5 million from the nine months ended September 30, 2025, due to an increase in direct interest income due to the increased AFS securities acquired from American National and additional FTP expense being allocated to the other segments based on their related funding mixes.

•Average earning assets increased $1.4 billion from the nine months ended September 30, 2025, due to an increase to the Corporation's investment portfolio following the American National acquisition.

Critical Accounting Estimates

In preparing the consolidated financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the balance sheet and revenues and expenses for the period. Actual results could differ significantly from those estimates. The determination of the ACLL is particularly susceptible to significant change. A discussion of these estimates can be found in the Critical Accounting Estimates section in Management's Discussion and Analysis of Financial Condition and Results of Operations included in the Corporation’s 2025 Annual Report on Form 10-K. There have been no changes in the Corporation's application of critical accounting estimates since December 31, 2025.

Recent Developments

On October 27, 2026, the Corporation’s Board of Directors declared a regular quarterly cash dividend of $0.25 per common share, payable on December 15, 2026, to shareholders of record at the close of business on December 1, 2026.

The Board of Directors also declared a regular quarterly cash dividend of $0.3671875 per depositary share on Associated's 5.875% Perpetual Preferred Stock, Series E, payable on December 15, 2026 to the shareholders of record at the close of business on December 1, 2026.

The Board of Directors also declared a regular quarterly cash dividend of $0.3515625 per depositary share on Associated's 5.625% Perpetual Preferred Stock, Series F, payable on December 15, 2026 to the shareholders of record at the close of business on December 1, 2026.

ITEM 3.			Quantitative and Qualitative Disclosures About Market Risk

Information required by this item is set forth in Item 2 under the captions Quantitative and Qualitative Disclosures about Market Risk and Interest Rate Risk.

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ITEM 4.			Controls and Procedures

The Corporation maintains disclosure controls and procedures as required under Rule 13a-15 promulgated under the Securities Exchange Act that are designed to ensure that information required to be disclosed in the Corporation's Exchange Act reports is recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and forms, and that such information is accumulated and communicated to the Corporation’s management, including its Chief Executive Officer and Chief Financial Officer, as appropriate, to allow timely decisions regarding required disclosure.

As of September 30, 2026, the Corporation’s management carried out an evaluation, under the supervision and with the participation of the Corporation’s Chief Executive Officer and Chief Financial Officer, of the effectiveness of its disclosure controls and procedures. Based on the foregoing, its Chief Executive Officer and Chief Financial Officer concluded that the Corporation’s disclosure controls and procedures were effective as of September 30, 2026.

On April 1, 2026, the Corporation completed its acquisition of American National. The Corporation is in the process of integrating the acquired operations, business processes and systems into its overall internal control environment and has begun to extend its oversight and monitoring activities to include the acquired operations. Management's evaluation of internal control over financial reporting as of September 30, 2026 did not include an assessment of the internal control over financial reporting of American National. The Corporation continues evaluating and integrating American National into the Corporation's control environment in connection with the conversion of systems and operations in the fourth quarter of 2026.

Other than the integration activities associated with the American National acquisition, no changes were made to the Corporation’s internal control over financial reporting (as defined in Rule 13a-15(f) of the Exchange Act) during the last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the Corporation’s internal control over financial reporting.

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PART II - OTHER INFORMATION

ITEM 1.			Legal Proceedings

The information required by this item is set forth in Part I, Item 1 under Note 12 Commitments, Off-Balance Sheet Arrangements, and Legal Proceedings of the notes to consolidated financial statements.

ITEM 1A.			Risk Factors

There have been no material changes in the Risk Factors described in the Corporation’s 2025 Annual Report on Form 10-K.

ITEM 2.			Unregistered Sales of Equity Securities and Use of Proceeds

During the third quarter of 2026, the Corporation repurchased $101.4 million of common stock, of which $100.0 million were open market repurchases in accordance with an accelerated share repurchase agreement while $1.4 million were repurchases related to tax withholding on equity compensation. The repurchase details are presented in the table below:

Common Stock Purchases

			Total Number  of Shares Purchased(a)			Average Price Paid per Share			Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs			Maximum Number of Shares that May Yet Be Purchased Under the Plans or Programs(b)
Period
July 1, 2026 - July 31, 2026			44,307			$	30.64		—
August 1, 2026 - August 31, 2026			2,537,266			30.88			2,537,266
September 1, 2026 - September 30, 2026			700,693			30.88			700,693
Total			3,282,266			$	30.88		3,237,959			3,974,277

(a) During the third quarter of 2026, the Corporation repurchased 44,307 shares for minimum tax withholding settlements on equity compensation. These purchases do not count against the maximum value of shares remaining available for purchase under the Board of Directors' 2026 authorization.

(b) On January 27, 2026 and April 28, 2026, the Board of Directors authorized the repurchase of up to $100 million each of the Corporation's common stock. At September 30, 2026, there remained $113.9 million authorized to be repurchased in the aggregate. Approximately 4.0 million shares of common stock remained available to be repurchased under the Board authorizations based on the closing share price on September 30, 2026.

Repurchases under Board authorized repurchase programs are subject to any necessary regulatory approvals and other limitations and may occur from time to time in open market purchases, block transactions, private transactions, accelerated share repurchases, or similar facilities.

ITEM 5.			Other Information

During the three months ended September 30, 2026, no director or "officer" of the Corporation adopted or terminated a “Rule 10b5-1 trading arrangement” or “non-Rule 10b5-1 trading arrangement,” as each term is defined in Item 408(a) of Regulation S-K.

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ITEM 6.			Exhibits

(a)    Exhibits:

Exhibit (10.1), Employment Transition - Letter Agreement, between Associated Banc-Corp and Randall J. Erickson, dated September 21, 2026, incorporated by reference to the Corporation's Current Report on Form 8-K dated September 21, 2026.
Exhibit (31.1), Certification Under Section 302 of Sarbanes-Oxley by Andrew J. Harmening, Chief Executive Officer.
Exhibit (31.2), Certification Under Section 302 of Sarbanes-Oxley by Derek S. Meyer, Chief Financial Officer.
Exhibit (32), Certification by the Chief Executive Officer and Chief Financial Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of Sarbanes-Oxley.
Exhibit (101), Interactive data files pursuant to Rule 405 of Regulation S-T: (i) Unaudited Consolidated Balance Sheets, (ii) Unaudited Consolidated Statements of Income, (iii) Unaudited Consolidated Statements of Comprehensive Income, (iv) Unaudited Consolidated Statements of Changes in Stockholders’ Equity, (v) Unaudited Consolidated Statements of Cash Flows, and (vi) Notes to Consolidated Financial Statements.
Exhibit (104), The cover page from the Corporation's Quarterly Report on Form 10-Q for the quarter ended September 30, 2026 has been formatted in Inline XBRL (Inline Extensible Business Reporting Language) and contained in Exhibits in 101.

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Signatures

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

						ASSOCIATED BANC-CORP
						(Registrant)
Date: October 27, 2026						/s/ Andrew J. Harmening
						Andrew J. Harmening
						President and Chief Executive Officer
Date: October 27, 2026						/s/ Derek S. Meyer
						Derek S. Meyer
						Chief Financial Officer
Date: October 27, 2026						/s/ Ryan J. Beld
						Ryan J. Beld
						Chief Accounting Officer

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