Wintrust Financial Corporation Reports Record Quarterly Net Income

Wintrust Financial Corporation

ROSEMONT, Ill., April 20, 2026 (GLOBE NEWSWIRE) -- Wintrust Financial Corporation (“Wintrust”, “the Company”, “we” or “our”) (Nasdaq: WTFC) announced record net income of $227.4 million, or $3.22 per diluted common share, for the first quarter of 2026 compared to net income of $223.0 million, or $3.15 per diluted common share for the fourth quarter of 2025. Pre-tax, pre-provision income (non-GAAP) for the first quarter of 2026 totaled a record $330.5 million, as compared to $329.8 million for the fourth quarter of 2025.

Timothy S. Crane, President and Chief Executive Officer, commented, “We are pleased with our first quarter 2026 results, with diversified loan growth, robust deposit generation and prudent expense management resulting in a fifth consecutive quarter of record net income. Our multi-faceted business model and unique market position continued to build franchise value.”

Additionally, Mr. Crane noted, “Net interest margin in the first quarter remained within our expected range, improving by two basis points to 3.56%. Strong loan growth, coupled with a stable net interest margin supported solid net interest income levels in the first quarter of 2026. Our disciplined approach to underwriting led to strong credit quality with low levels of net charge-offs and non-performing loans.”

Highlights of the first quarter of 2026:
Comparative information to the fourth quarter of 2025, unless otherwise noted

Total loans increased by $1.0 billion, or 7% annualized. Total deposits increased by $1.2 billion, or 8% annualized. Total assets increased by $1.0 billion, or 6% annualized. Net interest margin increased to 3.54% (3.56% on a fully taxable-equivalent basis, non-GAAP) during the first quarter of 2026.

Net interest income decreased to $579.0 million in the first quarter of 2026, compared to $583.9 million in the fourth quarter of 2025, primarily due to two fewer calendar days in the first quarter, partially offset by average earning asset growth during the quarter. Provision for credit losses totaled $29.6 million in the first quarter of 2026, compared to a provision for credit losses of $27.6 million in the fourth quarter of 2025. Net charge-offs totaled $18.4 million, or 14 basis points of average total loans on an annualized basis, in the first quarter of 2026 down from $21.8 million, or 17 basis points of average total loans on an annualized basis, in the fourth quarter of 2025. Non-performing loans totaled $182.7 million and comprised 0.34% of total loans at March 31, 2026, as compared to $185.8 million and 0.35% of total loans at December 31, 2025.

Story Continues

“Our first quarter performance reflected the efficient execution of our strategic priorities to deliver our differentiated customer experience, deliver disciplined and strategic growth and build the foundation for our future”, Mr. Crane said. “We believe the continued momentum in our financial results has us well-positioned for the remainder of 2026. We expect sustained balance sheet growth, as we manage our expenses while investing appropriately in our businesses, to create consistent value for our shareholders.”

The graphs shown on pages 3-7 illustrate certain financial highlights of the first quarter of 2026 as well as historical financial performance. See “Supplemental Non-GAAP Financial Measures/Ratios” at Table 17 for additional information with respect to non-GAAP financial measures/ratios, including the reconciliations to the corresponding GAAP financial measures/ratios.

Graphs available at the following link:
http://ml.globenewswire.com/Resource/Download/eee88316-a409-40c9-8b41-bcc28fae9695

SUMMARY OF RESULTS:

BALANCE SHEET

Total assets increased $1.0 billion in the first quarter of 2026 compared to the fourth quarter of 2025, driven by a $1.0 billion increase in total loans. The increase in loans was broad-based with growth across most major loan categories.

Total liabilities increased by $0.9 billion in the first quarter of 2026 compared to the fourth quarter of 2025, driven by a $1.2 billion increase in total deposits. Robust organic deposit growth in the first quarter of 2026 was driven by our diverse deposit product offerings. Non-interest bearing deposit balances represented 20% of total deposits and average non-interest bearing deposit balances have remained stable in recent quarters. The Company's loans-to-deposits ratio ended the quarter at 91.8%.

For more information regarding changes in the Company’s balance sheet, see Consolidated Statements of Condition and Table 1 through Table 3 in this report.

NET INTEREST INCOME

For the first quarter of 2026, net interest income totaled $579.0 million, a decrease of $4.9 million compared to the fourth quarter of 2025. The decrease in net interest income in the first quarter of 2026 was driven by two fewer calendar days in the quarter, partially offset by average earning asset growth during the quarter.

Net interest margin was 3.54% (3.56% on a fully taxable-equivalent basis, non-GAAP) during the first quarter of 2026, up two basis points compared to the fourth quarter of 2025, benefiting from two fewer calendar days in the calendar. The yield on earning assets declined 10 basis points during the first quarter of 2026 primarily due to a 13 basis point decrease in loan yields. Funding cost on interest-bearing deposits decreased by 16 basis points compared to the fourth quarter of 2025, which more than offset the reduction in loan yields. The net free funds contribution in the first quarter of 2026 declined four basis points compared to the fourth quarter of 2025.

For more information regarding net interest income, see Table 4 through Table 7 in this report.

ASSET QUALITY

The allowance for credit losses totaled $471.6 million as of March 31, 2026, an increase from $460.5 million as of December 31, 2025. A provision for credit losses totaling $29.6 million was recorded for the first quarter of 2026 compared to $27.6 million recorded in the fourth quarter of 2025. The provision for credit losses recognized in the first quarter of 2026 reflects stable credit quality and a mostly stable macroeconomic forecast. However, given future economic performance remains uncertain, model results capture uncertainty related to credit spreads and equity market valuations. For more information regarding the allowance for credit losses and provision for credit losses, see Table 10 in this report.

Management believes the allowance for credit losses is appropriate to account for expected credit losses. The Company is required to estimate expected credit losses over the life of the Company’s financial assets as of the reporting date. There can be no assurances, however, that future losses will not significantly exceed the amounts provided for, thereby affecting future results of operations. A summary of the allowance for credit losses calculated for the loan components in each portfolio as of March 31, 2026, December 31, 2025, and September 30, 2025 is shown on Table 11 of this report.

Net charge-offs totaled $18.4 million in the first quarter of 2026, a decrease of $3.4 million compared to $21.8 million of net charge-offs in the fourth quarter of 2025. Net charge-offs as a percentage of average total loans were 14 basis points in the first quarter of 2026 on an annualized basis compared to 17 basis points on an annualized basis in the fourth quarter of 2025. For more information regarding net charge-offs, see Table 9 in this report.

The Company’s loan portfolio delinquency rates remain low and manageable. For more information regarding past due loans, see Table 12 in this report.

Non-performing assets and non-performing loans were stable compared to prior quarter. Non-performing assets totaled $200.2 million and comprised 0.28% of total assets as of March 31, 2026, as compared to $206.6 million, or 0.29% of total assets, as of December 31, 2025. Non-performing loans totaled $182.7 million and comprised 0.34% of total loans at March 31, 2026, as compared to $185.8 million and 0.35% of total loans at December 31, 2025. For more information regarding non-performing assets, see Table 13 in this report.

NON-INTEREST INCOME

Non-interest income totaled $134.1 million in the first quarter of 2026, increasing $3.7 million, compared to $130.4 million in the fourth quarter of 2025.

Wealth management revenue increased by approximately $2.7 million in the first quarter of 2026, compared to the fourth quarter of 2025. The increase in the first quarter of 2026 was primarily driven by the increase in trust and asset management revenue. Wealth management revenue is comprised of the trust and asset management revenue of Wintrust Private Trust Company and Great Lakes Advisors, the brokerage commissions, managed money fees and insurance product commissions at Wintrust Investments and fees from tax-deferred like-kind exchange services provided by the Chicago Deferred Exchange Company.

Mortgage banking revenue totaled $23.4 million in the first quarter of 2026, compared to $22.6 million in the fourth quarter of 2025. The increase in the first quarter of 2026 was primarily attributed to higher production revenue. For more information regarding mortgage banking revenue, see Table 15 in this report.

The Company recognized approximately $31,000 in net losses on investment securities in the first quarter of 2026 compared to approximately $1.5 million in net gains in the fourth quarter of 2025. The net losses in the first quarter of 2026 were primarily the result of unrealized losses on the Company’s equity investment securities with a readily determinable fair value.

For more information regarding non-interest income, see Table 14 in this report.

NON-INTEREST EXPENSE

Non-interest expense totaled $382.6 million in the first quarter of 2026, decreasing $1.9 million, compared to $384.5 million in the fourth quarter of 2025. Non-interest expense, as a percent of average assets, remained stable at 2.21% in the first quarter of 2026.

Salaries and employee benefits expense increased by approximately $5.9 million in the first quarter of 2026, compared to the fourth quarter of 2025. This was primarily driven by an increase in base salaries as annual merit increases go into effect in the first quarter.

The Company recorded net OREO expense of $207,000 in the first quarter of 2026, compared to net OREO expense of $2.2 million in the fourth quarter of 2025. The primary driver of the decrease in the first quarter can be attributed to valuation adjustments in the fourth quarter of 2025. Net OREO expenses include all costs associated with obtaining, maintaining and selling other real estate owned properties as well as valuation adjustments.

Advertising and marketing expenses in the first quarter of 2026 totaled $13.2 million, which was a $574,000 decrease as compared to the fourth quarter of 2025. Marketing costs are incurred to promote the Company’s brand, commercial banking capabilities and the Company’s various products, to attract loans and deposits and to announce new branch openings as well as the expansion of the Company’s non-bank businesses. The level of marketing expenditures depends on the timing of sponsorship programs utilized which are determined based on the market area, targeted audience, competition and various other factors. Generally, these expenses are elevated in the second and third quarters of each year.

Travel and entertainment expense decreased approximately $2.5 million in the first quarter of 2026, compared to the fourth quarter of 2025. The decrease is primarily attributed to seasonal corporate events that occur in the fourth quarter.

For more information regarding non-interest expense, see Table 16 in this report.

INCOME TAXES

The Company recorded income tax expense of $73.6 million in the first quarter of 2026 compared to $79.2 million in the fourth quarter of 2025. The effective tax rates were 24.4% in the first quarter of 2026 compared to 26.2% in the fourth quarter of 2025. The effective tax rates were impacted by the tax effects related to share-based compensation which fluctuate based on the Company’s stock price and timing of employee stock option exercises and vesting of other share-based awards. The Company recorded net excess tax benefits of $6.6 million in the first quarter of 2026, compared to net excess tax benefits of $70,000 in the fourth quarter of 2025 related to share-based compensation.

BUSINESS SUMMARY

Community Banking

Through community banking, the Company provides banking and financial services primarily to individuals, small to mid-sized businesses, local governmental units and institutional clients residing primarily in the local areas the Company services. In the first quarter of 2026, community banking increased its commercial, commercial real estate and residential real estate loan portfolios.

Mortgage banking revenue was $23.4 million for the first quarter of 2026, an increase of $771,000 compared to the fourth quarter of 2025. See Table 15 for more detail. Service charges on deposit accounts totaled $21.0 million in the first quarter of 2026 as compared to $20.4 million in the fourth quarter of 2025. The Company’s gross commercial and commercial real estate loan pipelines remained solid as of March 31, 2026 indicating momentum for expected continued loan growth in the second quarter of 2026.

Specialty Finance

Through specialty finance, the Company offers financing of insurance premiums for businesses and individuals, equipment financing through structured loans and lease products to customers in a variety of industries, accounts receivable financing and value-added, out-sourced administrative services and other services. Originations within the insurance premium financing receivables portfolios were $5.1 billion during the first quarter of 2026. Average balances decreased by $81.0 million, as compared to the fourth quarter of 2025. The Company’s leasing divisions’ portfolio balances increased in the first quarter of 2026, with capital leases, loans, and equipment on operating leases of $3.0 billion, $1.2 billion, and $362.8 million as of March 31, 2026, respectively, compared to $2.9 billion, $1.2 billion, and $360.6 million as of December 31, 2025, respectively. Revenues from the Company’s out-sourced administrative services business were $1.2 million in the first quarter of 2026, which was relatively stable compared to the fourth quarter of 2025.

Wealth Management

Through wealth management, the Company offers a full range of wealth management services, including trust and investment services, tax-deferred like-kind exchange services, asset management, and securities brokerage services. Wealth management revenue totaled $42.1 million in the first quarter of 2026, an increase as compared to the fourth quarter of 2025. At March 31, 2026, the Company’s wealth management subsidiaries had approximately $45.9 billion of assets under administration, which excludes assets owned by the Company and its subsidiary banks.

WINTRUST FINANCIAL CORPORATION

Key Operating Measures

Wintrust’s key operating measures and growth rates for the first quarter of 2026, as compared to the fourth quarter of 2025 (sequential quarter) and first quarter of 2025 (linked quarter), are shown in the table below:

% or(1)
basis point  (bp) change from
4th Quarter
2025 % or
basis point  (bp) change from
1st Quarter
2025 Three Months Ended (Dollars in thousands, except per share data) Mar 31, 2026 Dec 31, 2025 Mar 31, 2025 Net income $ 227,388 $ 223,024 $ 189,039 2 % 20 % Pre-tax income, excluding provision for credit losses (non-GAAP)(2) 330,534 329,811 277,018 19 Net income per common share – Diluted 3.22 3.15 2.69 2 20 Cash dividends declared per common share 0.55 0.50 0.50 10 10 Net revenue(3) 713,166 714,264 643,108 11 Net interest income 579,024 583,874 526,474 (1 ) 10 Net interest margin 3.54 % 3.52 % 3.54 % 2 bps — bps Net interest margin – fully taxable-equivalent (non-GAAP)(2) 3.56 3.54 3.56 2 — Net overhead ratio(4) 1.44 1.45 1.58 (1 ) (14 ) Return on average assets 1.32 1.27 1.20 5 12 Return on average common equity 12.76 12.63 12.21 13 55 Return on average tangible common equity (non-GAAP)(2) 14.89 14.83 14.72 6 17 At end of period Total assets $ 72,157,433 $ 71,142,046 $ 65,870,066 6 % 10 % Total loans(5) 54,071,292 53,105,101 48,708,390 7 11 Total deposits 58,914,382 57,717,191 53,570,038 8 10 Total shareholders’ equity 7,378,100 7,258,715 6,600,537 7 12

(1) Period-end balance sheet percentage changes are annualized. (2) See Table 17: Supplemental Non-GAAP Financial Measures/Ratios for additional information on this performance measure/ratio.
(3) Net revenue is net interest income plus non-interest income.
(4) The net overhead ratio is calculated by netting total non-interest expense and total non-interest income, annualizing this amount, and dividing by that period’s average total assets. A lower ratio indicates a higher degree of efficiency.
(5) Excludes mortgage loans held-for-sale.

Certain returns, yields, performance ratios, or quarterly growth rates are “annualized” in this presentation to represent an annual time period. This is done for analytical purposes to better discern, for decision-making purposes, underlying performance trends when compared to full-year or year-over-year amounts. For example, a 5% growth rate for a quarter would represent an annualized 20% growth rate.

WINTRUST FINANCIAL CORPORATION
Selected Financial Highlights

Three Months Ended (Dollars in thousands, except per share data) Mar 31, 2026 Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 Mar 31, 2025 Selected Financial Condition Data (at end of period): Total assets $ 72,157,433 $ 71,142,046 $ 69,629,638 $ 68,983,318 $ 65,870,066 Total loans(1) 54,071,292 53,105,101 52,063,482 51,041,679 48,708,390 Total deposits 58,914,382 57,717,191 56,711,381 55,816,811 53,570,038 Total shareholders’ equity 7,378,100 7,258,715 7,045,757 7,225,696 6,600,537 Selected Statements of Income Data: Net interest income $ 579,024 $ 583,874 $ 567,010 $ 546,694 $ 526,474 Net revenue(2) 713,166 714,264 697,837 670,783 643,108 Net income 227,388 223,024 216,254 195,527 189,039 Pre-tax income, excluding provision for credit losses (non-GAAP)(3) 330,534 329,811 317,809 289,322 277,018 Net income per common share – Basic 3.26 3.21 2.82 2.82 2.73 Net income per common share – Diluted 3.22 3.15 2.78 2.78 2.69 Cash dividends declared per common share 0.55 0.50 0.50 0.50 0.50 Selected Financial Ratios and Other Data: Performance Ratios: Net interest margin 3.54 % 3.52 % 3.48 % 3.52 % 3.54 % Net interest margin – fully taxable-equivalent (non-GAAP)(3) 3.56 3.54 3.50 3.54 3.56 Non-interest income to average assets 0.78 0.74 0.76 0.76 0.74 Non-interest expense to average assets 2.21 2.19 2.21 2.32 2.32 Net overhead ratio(4) 1.44 1.45 1.45 1.57 1.58 Return on average assets 1.32 1.27 1.26 1.19 1.20 Return on average common equity 12.76 12.63 11.58 12.07 12.21 Return on average tangible common equity (non-GAAP)(3) 14.89 14.83 13.74 14.44 14.72 Average total assets $ 70,089,123 $ 69,492,268 $ 68,303,036 $ 65,840,345 $ 64,107,042 Average total shareholders’ equity 7,387,713 7,166,608 6,955,543 6,862,040 6,460,941 Average loans to average deposits ratio 93.1 % 92.4 % 92.5 % 93.0 % 92.3 % Period-end loans to deposits ratio 91.8 92.0 91.8 91.4 90.9 Common Share Data at end of period: Market price per common share $ 138.94 $ 139.82 $ 132.44 $ 123.98 $ 112.46 Book value per common share 103.10 102.03 98.87 95.43 92.47 Tangible book value per common share (non-GAAP)(3) 89.90 88.66 85.39 81.86 78.83 Common shares outstanding 67,437,300 66,974,913 66,961,209 66,937,732 66,919,325 Other Data at end of period: Common equity to assets ratio 9.6 % 9.6 % 9.5 % 9.3 % 9.4 % Tangible common equity ratio (non-GAAP)(3) 8.5 8.5 8.3 8.0 8.1 Tier 1 leverage ratio(5) 9.8 9.6 9.5 10.2 9.6 Risk-based capital ratios: Tier 1 capital ratio(5) 11.1 11.0 10.9 11.5 10.8 Common equity tier 1 capital ratio(5) 10.4 10.3 10.2 10.0 10.1 Total capital ratio(5) 12.5 12.4 12.4 13.0 12.5 Allowance for credit losses(6) $ 471,591 $ 460,465 $ 454,586 $ 457,461 $ 448,387 Allowance for loan and unfunded lending-related commitment losses to total loans 0.87 % 0.87 % 0.87 % 0.90 % 0.92 % Number of: Bank subsidiaries 16 16 16 16 16 Banking offices 209 209 208 208 208

(1) Excludes mortgage loans held-for-sale.
(2) Net revenue is net interest income plus non-interest income.
(3) See Table 17: Supplemental Non-GAAP Financial Measures/Ratios for additional information on this performance measure/ratio.
(4) The net overhead ratio is calculated by netting total non-interest expense and total non-interest income, annualizing this amount, and dividing by that period’s average total assets. A lower ratio indicates a higher degree of efficiency.
(5) Capital ratios for current quarter-end are estimated.
(6) The allowance for credit losses includes the allowance for loan losses, the allowance for unfunded lending-related commitments and the allowance for held-to-maturity securities losses.

WINTRUST FINANCIAL CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CONDITION

(Unaudited) (Unaudited) (Unaudited) (Unaudited) Mar 31, Dec 31, Sep 30, Jun 30, Mar 31, (In thousands) 2026 2025 2025 2025 2025 Assets Cash and due from banks $ 543,654 $ 467,874 $ 565,406 $ 695,501 $ 616,216 Federal funds sold and securities purchased under resale agreements 65 64 63 63 63 Interest-bearing deposits with banks 3,051,665 3,180,553 3,422,452 4,569,618 4,238,237 Available-for-sale securities, at fair value 7,244,282 6,236,263 5,274,124 4,885,715 4,220,305 Held-to-maturity securities, at amortized cost 3,270,207 3,343,905 3,438,406 3,502,186 3,564,490 Equity securities with readily determinable fair value 63,786 63,770 63,445 273,722 270,442 Federal Home Loan Bank and Federal Reserve Bank stock 292,044 291,881 282,755 282,087 281,893 Mortgage loans held-for-sale, at fair value 383,405 340,745 333,883 299,606 316,804 Loans, net of unearned income 54,071,292 53,105,101 52,063,482 51,041,679 48,708,390 Allowance for loan losses (390,651 ) (379,283 ) (386,622 ) (391,654 ) (378,207 ) Net loans 53,680,641 52,725,818 51,676,860 50,650,025 48,330,183 Premises, software and equipment, net 777,603 781,611 775,425 776,324 776,679 Lease investments, net 362,766 360,646 301,000 289,768 280,472 Accrued interest receivable and other assets 1,596,617 1,617,682 1,614,674 1,610,025 1,598,255 Receivable on unsettled securities sales — 835,275 978,209 240,039 463,023 Goodwill 797,658 797,960 797,639 798,144 796,932 Other acquisition-related intangible assets 93,040 97,999 105,297 110,495 116,072 Total assets $ 72,157,433 $ 71,142,046 $ 69,629,638 $ 68,983,318 $ 65,870,066 Liabilities and Shareholders’ Equity Deposits: Non-interest-bearing $ 12,112,891 $ 11,423,701 $ 10,952,146 $ 10,877,166 $ 11,201,859 Interest-bearing 46,801,491 46,293,490 45,759,235 44,939,645 42,368,179 Total deposits 58,914,382 57,717,191 56,711,381 55,816,811 53,570,038 Federal Home Loan Bank advances 3,451,309 3,451,309 3,151,309 3,151,309 3,151,309 Other borrowings 340,647 477,966 579,328 625,392 529,269 Subordinated notes 298,717 298,636 298,536 298,458 298,360 Junior subordinated debentures 253,566 253,566 253,566 253,566 253,566 Payable on unsettled securities purchases — — — 39,105 — Accrued interest payable and other liabilities 1,520,712 1,684,663 1,589,761 1,572,981 1,466,987 Total liabilities 64,779,333 63,883,331 62,583,881 61,757,622 59,269,529 Shareholders’ Equity: Preferred stock 425,000 425,000 425,000 837,500 412,500 Common stock 67,525 67,062 67,042 67,025 67,007 Surplus 2,546,792 2,534,024 2,521,306 2,495,637 2,494,347 Treasury stock (13,970 ) (9,156 ) (9,150 ) (9,156 ) (9,156 ) Retained earnings 4,719,561 4,537,539 4,356,367 4,200,923 4,045,854 Accumulated other comprehensive loss (366,808 ) (295,754 ) (314,808 ) (366,233 ) (410,015 ) Total shareholders’ equity 7,378,100 7,258,715 7,045,757 7,225,696 6,600,537 Total liabilities and shareholders’ equity $ 72,157,433 $ 71,142,046 $ 69,629,638 $ 68,983,318 $ 65,870,066

WINTRUST FINANCIAL CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)

Three Months Ended (Dollars in thousands, except per share data) Mar 31,
2026 Dec 31,
2025 Sep 30,
2025 Jun 30,
2025 Mar 31,
2025 Interest income Interest and fees on loans $ 797,889 $ 822,494 $ 832,140 $ 797,997 $ 768,362 Mortgage loans held-for-sale 4,615 5,607 4,757 4,872 4,246 Interest-bearing deposits with banks 19,150 27,190 34,992 34,317 36,766 Federal funds sold and securities purchased under resale agreements 64 77 75 276 179 Investment securities 100,278 95,461 86,426 78,053 72,016 Trading account securities — — — — 11 Federal Home Loan Bank and Federal Reserve Bank stock 5,564 5,497 5,444 5,393 5,307 Brokerage customer receivables — — — — 78 Total interest income 927,560 956,326 963,834 920,908 886,965 Interest expense Interest on deposits 309,187 332,178 355,846 333,470 320,233 Interest on Federal Home Loan Bank advances 27,701 26,408 26,007 25,724 25,441 Interest on other borrowings 4,026 5,956 6,887 6,957 6,792 Interest on subordinated notes 3,719 3,737 3,717 3,735 3,714 Interest on junior subordinated debentures 3,903 4,173 4,367 4,328 4,311 Total interest expense 348,536 372,452 396,824 374,214 360,491 Net interest income 579,024 583,874 567,010 546,694 526,474 Provision for credit losses 29,594 27,588 21,768 22,234 23,963 Net interest income after provision for credit losses 549,430 556,286 545,242 524,460 502,511 Non-interest income Wealth management 42,059 39,365 37,188 36,821 34,042 Mortgage banking 23,396 22,625 24,451 23,170 20,529 Service charges on deposit accounts 20,970 20,402 19,825 19,502 19,362 (Losses) gains on investment securities, net (31 ) 1,505 2,972 650 3,196 Fees from covered call options 4,669 5,992 5,619 5,624 3,446 Trading gains (losses), net 10 (257 ) 172 151 (64 ) Operating lease income, net 19,154 16,365 15,466 15,166 15,287 Other 23,915 24,393 25,134 23,005 20,836 Total non-interest income 134,142 130,390 130,827 124,089 116,634 Non-interest expense Salaries and employee benefits 228,447 222,557 219,668 219,541 211,526 Software and equipment 35,654 36,096 35,027 36,522 34,717 Operating lease equipment 10,987 11,034 10,409 10,757 10,471 Occupancy, net 20,566 20,105 20,809 20,228 20,778 Data processing 11,266 11,809 11,329 12,110 11,274 Advertising and marketing 13,218 13,792 19,027 18,761 12,272 Professional fees 7,375 8,280 7,465 9,243 9,044 Amortization of other acquisition-related intangible assets 4,958 4,999 5,196 5,580 5,618 FDIC insurance 10,990 10,562 11,418 10,971 10,926 Other real estate owned (“OREO”) expenses, net 207 2,162 262 505 643 Other 38,964 43,057 39,418 37,243 38,821 Total non-interest expense 382,632 384,453 380,028 381,461 366,090 Income before taxes 300,940 302,223 296,041 267,088 253,055 Income tax expense 73,552 79,199 79,787 71,561 64,016 Net income $ 227,388 $ 223,024 $ 216,254 $ 195,527 $ 189,039 Preferred stock dividends 8,367 8,367 13,295 6,991 6,991 Preferred stock redemption — — 14,046 — — Net income applicable to common shares $ 219,021 $ 214,657 $ 188,913 $ 188,536 $ 182,048 Net income per common share - Basic $ 3.26 $ 3.21 $ 2.82 $ 2.82 $ 2.73 Net income per common share - Diluted $ 3.22 $ 3.15 $ 2.78 $ 2.78 $ 2.69 Cash dividends declared per common share $ 0.55 $ 0.50 $ 0.50 $ 0.50 $ 0.50 Weighted average common shares outstanding 67,246 66,970 66,952 66,931 66,726 Dilutive potential common shares 851 1,143 1,028 888 923 Average common shares and dilutive common shares 68,097 68,113 67,980 67,819 67,649

TABLE 1: LOAN PORTFOLIO MIX AND GROWTH RATES

% Growth From(1) (Dollars in thousands) Mar 31,
2026 Dec 31,
2025 Sep 30,
2025 Jun 30,
2025 Mar 31,
2025 Dec 31,
2025(2) Mar 31,
2025 Balance: Mortgage loans held-for-sale, excluding early buy-out exercised loans guaranteed by U.S. government agencies $ 249,350 $ 217,136 $ 211,360 $ 192,633 $ 181,580 60 % 37 % Mortgage loans held-for-sale, early buy-out exercised loans guaranteed by U.S. government agencies 134,055 123,609 122,523 106,973 135,224 34 (1 ) Total mortgage loans held-for-sale $ 383,405 $ 340,745 $ 333,883 $ 299,606 $ 316,804 51 % 21 % Core loans: Commercial Commercial and industrial $ 7,620,239 $ 7,267,505 $ 7,135,083 $ 7,028,247 $ 6,871,206 20 % 11 % Asset-based lending 1,558,089 1,512,888 1,588,522 1,663,693 1,701,962 12 (8 ) Municipal 839,633 868,958 804,986 771,785 798,646 (14 ) 5 Leases 3,002,014 2,921,366 2,834,563 2,757,331 2,680,943 11 12 Commercial real estate Residential construction 53,097 54,753 60,923 59,027 55,849 (12 ) (5 ) Commercial construction 1,959,375 2,013,244 2,273,545 2,165,263 2,086,797 (11 ) (6 ) Land 311,470 341,585 323,685 304,827 306,235 (36 ) 2 Office 1,652,482 1,688,614 1,578,208 1,601,208 1,641,555 (9 ) 1 Industrial 3,323,977 3,167,768 2,912,547 2,824,889 2,677,555 20 24 Retail 1,469,658 1,436,252 1,478,861 1,452,351 1,402,837 9 5 Multi-family 3,565,419 3,445,507 3,306,597 3,200,578 3,091,314 14 15 Mixed use and other 1,826,808 1,793,013 1,684,841 1,683,867 1,652,759 8 11 Home equity 471,264 480,525 484,202 466,815 455,683 (8 ) 3 Residential real estate Residential real estate loans for investment 4,319,941 4,171,439 4,019,046 3,814,715 3,561,417 14 21 Residential mortgage loans, early buy-out eligible loans guaranteed by U.S. government agencies 83,036 84,706 75,088 80,800 86,952 (8 ) (5 ) Residential mortgage loans, early buy-out exercised loans guaranteed by U.S. government agencies 62,189 61,087 49,736 53,267 36,790 7 69 Total core loans $ 32,118,691 $ 31,309,210 $ 30,610,433 $ 29,928,663 $ 29,108,500 10 % 10 % Niche loans: Commercial Franchise $ 1,293,639 $ 1,298,493 $ 1,298,140 $ 1,286,265 $ 1,262,555 (2 )% 2 % Mortgage warehouse lines of credit 1,800,972 1,515,003 1,204,661 1,232,530 1,019,543 77 77 Community Advantage - homeowners association 526,274 532,027 537,696 526,595 525,492 (4 ) — Insurance agency lending 1,122,361 1,128,446 1,140,691 1,120,985 1,070,979 (2 ) 5 Premium Finance receivables U.S. property & casualty insurance 7,127,234 7,308,054 7,502,901 7,378,340 6,486,663 (10 ) 10 Canada property & casualty insurance 763,097 875,362 863,391 944,836 753,199 (52 ) 1 Life insurance 9,196,382 9,023,642 8,758,553 8,506,960 8,365,140 8 10 Consumer and other 122,642 114,864 147,016 116,505 116,319 27 5 Total niche loans $ 21,952,601 $ 21,795,891 $ 21,453,049 $ 21,113,016 $ 19,599,890 3 % 12 % Total loans, net of unearned income $ 54,071,292 $ 53,105,101 $ 52,063,482 $ 51,041,679 $ 48,708,390 7 % 11 %

(1) NM - Not Meaningful.
(2) Annualized.

TABLE 2: DEPOSIT PORTFOLIO MIX AND GROWTH RATES

% Growth From (Dollars in thousands) Mar 31,
2026 Dec 31,
2025 Sep 30,
2025 Jun 30,
2025 Mar 31,
2025 Dec 31,
2025(1) Mar 31,
2025 Balance: Non-interest-bearing $ 12,112,891 $ 11,423,701 $ 10,952,146 $ 10,877,166 $ 11,201,859 24 % 8 % NOW and interest-bearing demand deposits 5,987,258 6,233,753 6,710,919 6,795,725 6,340,168 (16 ) (6 ) Wealth management deposits(2) 1,670,620 1,907,647 1,600,735 1,595,764 1,408,790 (50 ) 19 Money market 21,714,267 21,368,924 20,270,382 19,556,041 18,074,733 7 20 Savings 6,942,565 6,905,216 6,758,743 6,659,419 6,576,251 2 6 Time certificates of deposit 10,486,781 9,877,950 10,418,456 10,332,696 9,968,237 25 5 Total deposits $ 58,914,382 $ 57,717,191 $ 56,711,381 $ 55,816,811 $ 53,570,038 8 % 10 % Mix: Non-interest-bearing 20 % 20 % 19 % 19 % 21 % NOW and interest-bearing demand deposits 10 11 12 12 12 Wealth management deposits(2) 3 3 3 3 3 Money market 37 37 36 35 34 Savings 12 12 12 12 12 Time certificates of deposit 18 17 18 19 18 Total deposits 100 % 100 % 100 % 100 % 100 %

(1) Annualized. (2) Represents deposit balances of the Company’s subsidiary banks from brokerage customers of Wintrust Investments, Chicago Deferred Exchange Company, LLC (“CDEC”), and trust and asset management customers of the Company.

TABLE 3: TIME CERTIFICATES OF DEPOSIT MATURITY/RE-PRICING ANALYSIS
As of March 31, 2026

(Dollars in thousands) Total Time
Certificates of
Deposit Weighted-Average
Rate of Maturing
Time Certificates
of Deposit 1-3 months $ 2,650,966 3.45 % 4-6 months 5,018,880 3.51 7-9 months 1,589,764 3.37 10-12 months 822,123 3.40 13-18 months 243,686 2.88 19-24 months 70,182 2.85 24+ months 91,180 2.72 Total $ 10,486,781 3.44 %

TABLE 4: QUARTERLY AVERAGE BALANCES

Average Balance for three months ended, Mar 31, Dec 31, Sep 30, Jun 30, Mar 31, (In thousands) 2026 2025 2025 2025 2025 Interest-bearing deposits with banks, securities purchased under resale agreements and cash equivalents(1) $ 2,247,083 $ 2,842,829 $ 3,276,683 $ 3,308,199 $ 3,520,048 Investment securities(2) 10,616,617 10,084,138 9,377,930 8,801,560 8,409,735 FHLB and FRB stock(3) 291,972 284,643 282,338 282,001 281,702 Liquidity management assets(4) $ 13,155,672 $ 13,211,610 $ 12,936,951 $ 12,391,760 $ 12,211,485 Other earning assets(4) (5) — — — — 13,140 Mortgage loans held-for-sale 317,047 357,672 295,365 310,534 286,710 Loans, net of unearned income(4) (6) 52,845,685 52,193,637 51,403,566 49,517,635 47,833,380 Total earning assets(4) $ 66,318,404 $ 65,762,919 $ 64,635,882 $ 62,219,929 $ 60,344,715 Allowance for loan and investment security losses (391,810 ) (404,075 ) (410,681 ) (398,685 ) (375,371 ) Cash and due from banks 534,189 517,616 495,292 478,707 476,423 Other assets 3,628,340 3,615,808 3,582,543 3,540,394 3,661,275 Total assets $ 70,089,123 $ 69,492,268 $ 68,303,036 $ 65,840,345 $ 64,107,042 NOW and interest-bearing demand deposits $ 6,081,218 $ 6,133,333 $ 6,687,292 $ 6,423,050 $ 6,046,189 Wealth management deposits 1,858,560 1,925,808 1,604,142 1,552,989 1,574,480 Money market accounts 21,156,125 20,475,659 19,431,021 18,184,754 17,581,141 Savings accounts 6,921,251 6,814,263 6,723,325 6,578,698 6,479,444 Time deposits 9,782,112 10,045,136 10,319,719 9,841,702 9,406,126 Interest-bearing deposits $ 45,799,266 $ 45,394,199 $ 44,765,499 $ 42,581,193 $ 41,087,380 FHLB advances(3) 3,451,312 3,203,483 3,151,310 3,151,310 3,151,309 Other borrowings 442,200 547,507 614,892 593,657 582,139 Subordinated notes 298,661 298,576 298,481 298,398 298,306 Junior subordinated debentures 253,566 253,566 253,566 253,566 253,566 Total interest-bearing liabilities $ 50,245,005 $ 49,697,331 $ 49,083,748 $ 46,878,124 $ 45,372,700 Non-interest-bearing deposits 10,963,887 11,080,254 10,791,709 10,643,798 10,732,156 Other liabilities 1,492,518 1,548,075 1,472,036 1,456,383 1,541,245 Equity 7,387,713 7,166,608 6,955,543 6,862,040 6,460,941 Total liabilities and shareholders’ equity $ 70,089,123 $ 69,492,268 $ 68,303,036 $ 65,840,345 $ 64,107,042 Net free funds/contribution(7) $ 16,073,399 $ 16,065,588 $ 15,552,134 $ 15,341,805 $ 14,972,015

(1) Includes interest-bearing deposits from banks and securities purchased under resale agreements with original maturities of greater than three months. Cash equivalents include federal funds sold and securities purchased under resale agreements with original maturities of three months or less.
(2) Investment securities includes investment securities classified as available-for-sale and held-to-maturity, and equity securities with readily determinable fair values. Equity securities without readily determinable fair values are included within other assets.
(3) Federal Home Loan Bank (“FHLB”) and Federal Reserve Bank (“FRB”)
(4) See Table 17: Supplemental Non-GAAP Financial Measures/Ratios for additional information on this performance measure/ratio.
(5) Other earning assets include brokerage customer receivables and trading account securities.
(6) Loans, net of unearned income, include non-accrual loans.
(7) Net free funds are the difference between total average earning assets and total average interest-bearing liabilities. The estimated contribution to net interest margin from net free funds is calculated using the rate paid for total interest-bearing liabilities.

TABLE 5: QUARTERLY NET INTEREST INCOME

Net Interest Income for three months ended, Mar 31, Dec 31, Sep 30, Jun 30, Mar 31, (In thousands) 2026 2025 2025 2025 2025 Interest income: Interest-bearing deposits with banks, securities purchased under resale agreements and cash equivalents $ 19,214 $ 27,267 $ 35,067 $ 34,593 $ 36,945 Investment securities 100,864 96,122 87,101 78,733 72,706 FHLB and FRB stock(1) 5,564 5,497 5,444 5,393 5,307 Liquidity management assets(2) $ 125,642 $ 128,886 $ 127,612 $ 118,719 $ 114,958 Other earning assets(2) — — — — 92 Mortgage loans held-for-sale 4,615 5,607 4,757 4,872 4,246 Loans, net of unearned income(2) 799,915 824,628 834,294 800,197 770,568 Total interest income $ 930,172 $ 959,121 $ 966,663 $ 923,788 $ 889,864 Interest expense: NOW and interest-bearing demand deposits $ 29,666 $ 31,681 $ 40,448 $ 37,517 $ 33,600 Wealth management deposits 8,941 10,011 8,415 8,182 8,606 Money market accounts 155,299 163,585 169,831 155,890 146,374 Savings accounts 30,672 34,371 38,844 37,637 35,923 Time deposits 84,609 92,530 98,308 94,244 95,730 Interest-bearing deposits $ 309,187 $ 332,178 $ 355,846 $ 333,470 $ 320,233 FHLB advances(1) 27,701 26,408 26,007 25,724 25,441 Other borrowings 4,026 5,956 6,887 6,957 6,792 Subordinated notes 3,719 3,737 3,717 3,735 3,714 Junior subordinated debentures 3,903 4,173 4,367 4,328 4,311 Total interest expense $ 348,536 $ 372,452 $ 396,824 $ 374,214 $ 360,491 Less: Fully taxable-equivalent adjustment (2,612 ) (2,795 ) (2,829 ) (2,880 ) (2,899 ) Net interest income (GAAP)(3) 579,024 583,874 567,010 546,694 526,474 Fully taxable-equivalent adjustment 2,612 2,795 2,829 2,880 2,899 Net interest income, fully taxable-equivalent (non-GAAP)(3) $ 581,636 $ 586,669 $ 569,839 $ 549,574 $ 529,373

(1) Federal Home Loan Bank (“FHLB”) and Federal Reserve Bank (“FRB”)
(2) Interest income on tax-advantaged loans, trading securities and investment securities reflects a taxable-equivalent adjustment based on the marginal federal corporate tax rate in effect as of the applicable period.
(3) See Table 17: Supplemental Non-GAAP Financial Measures/Ratios for additional information on this performance measure/ratio.

TABLE 6: QUARTERLY NET INTEREST MARGIN

Net Interest Margin for three months ended, Mar 31,
2026 Dec 31,
2025 Sep 30,
2025 Jun 30,
2025 Mar 31,
2025 Yield earned on: Interest-bearing deposits with banks, securities purchased under resale agreements and cash equivalents 3.47 % 3.81 % 4.25 % 4.19 % 4.26 % Investment securities 3.85 3.78 3.68 3.59 3.51 FHLB and FRB stock(1) 7.73 7.66 7.65 7.67 7.64 Liquidity management assets 3.87 % 3.87 % 3.91 % 3.84 % 3.82 % Other earning assets — — — — 2.84 Mortgage loans held-for-sale 5.90 6.22 6.39 6.29 6.01 Loans, net of unearned income 6.14 6.27 6.44 6.48 6.53 Total earning assets 5.69 % 5.79 % 5.93 % 5.96 % 5.98 % Rate paid on: NOW and interest-bearing demand deposits 1.98 % 2.05 % 2.40 % 2.34 % 2.25 % Wealth management deposits 1.95 2.06 2.08 2.11 2.22 Money market accounts 2.98 3.17 3.47 3.44 3.38 Savings accounts 1.80 2.00 2.29 2.29 2.25 Time deposits 3.51 3.65 3.78 3.84 4.13 Interest-bearing deposits 2.74 % 2.90 % 3.15 % 3.14 % 3.16 % FHLB advances 3.26 3.27 3.27 3.27 3.27 Other borrowings 3.69 4.32 4.44 4.70 4.73 Subordinated notes 5.05 4.97 4.94 5.02 5.05 Junior subordinated debentures 6.24 6.53 6.83 6.85 6.90 Total interest-bearing liabilities 2.81 % 2.97 % 3.21 % 3.20 % 3.22 % Interest rate spread(2) (3) 2.88 % 2.82 % 2.72 % 2.76 % 2.76 % Less: Fully taxable-equivalent adjustment (0.02 ) (0.02 ) (0.02 ) (0.02 ) (0.02 ) Net free funds/contribution(4) 0.68 0.72 0.78 0.78 0.80 Net interest margin (GAAP)(3) 3.54 % 3.52 % 3.48 % 3.52 % 3.54 % Fully taxable-equivalent adjustment 0.02 0.02 0.02 0.02 0.02 Net interest margin, fully taxable-equivalent (non-GAAP)(3) 3.56 % 3.54 % 3.50 % 3.54 % 3.56 %

(1) Federal Home Loan Bank (“FHLB”) and Federal Reserve Bank (“FRB”)
(2) Interest rate spread is the difference between the yield earned on earning assets and the rate paid on interest-bearing liabilities.
(3) See Table 17: Supplemental Non-GAAP Financial Measures/Ratios for additional information on this performance measure/ratio.
(4) Net free funds are the difference between total average earning assets and total average interest-bearing liabilities. The estimated contribution to net interest margin from net free funds is calculated using the rate paid for total interest-bearing liabilities.

TABLE 7: INTEREST RATE SENSITIVITY

As an ongoing part of its financial strategy, the Company attempts to manage the impact of fluctuations in market interest rates on net interest income. Management measures its exposure to changes in interest rates by modeling many different interest rate scenarios.

The following interest rate scenarios display the percentage change in net interest income over a one-year time horizon assuming increases and decreases of 100 and 200 basis points as compared to projected net interest income in a scenario with no assumed rate changes. The Static Shock Scenario results incorporate actual cash flows and repricing characteristics for balance sheet instruments following an instantaneous, parallel change in market rates based upon a static (i.e. no growth or constant) balance sheet. Conversely, the Ramp Scenario results incorporate management’s projections of future volume and pricing of each of the product lines following a gradual, parallel change in market rates over twelve months. Actual results may differ from these simulated results due to timing, magnitude, and frequency of interest rate changes as well as changes in market conditions and management strategies. The interest rate sensitivity for both the Static Shock and Ramp Scenario is as follows:

Static Shock Scenario +200 Basis Points +100 Basis Points -100 Basis Points -200 Basis Points Mar 31, 2026 (0.8 )% (0.1 )% (1.0 )% (1.9 )% Dec 31, 2025 (1.6 ) (0.5 ) (0.5 ) (0.8 ) Sep 30, 2025 (2.3 ) (0.8 ) 0.0 (0.4 ) Jun 30, 2025 (1.5 ) (0.4 ) (0.2 ) (1.2 ) Mar 31, 2025 (1.8 ) (0.6 ) (0.2 ) (1.2 )

Ramp Scenario +200 Basis Points +100 Basis Points -100 Basis Points -200 Basis Points Mar 31, 2026 (0.1 )% 0.0 % (0.1 )% (0.3 )% Dec 31, 2025 (0.0 ) 0.1 (0.1 ) (0.2 ) Sep 30, 2025 (0.2 ) (0.1 ) 0.1 (0.1 ) Jun 30, 2025 0.0 0.0 (0.1 ) (0.4 ) Mar 31, 2025 0.2 0.2 (0.1 ) (0.5 )

As shown above, the magnitude of potential changes in net interest income in various interest rate scenarios has continued to remain relatively neutral. Management has taken action to reposition its sensitivity to interest rates to stabilize net interest margin following the rise in short term interest rates in 2022 and 2023. To this end, management has executed various derivative instruments including collars, floors and receive-fixed swaps to hedge variable-rate loan exposures. The Company will continue to monitor current and projected interest rates and may execute additional derivatives to mitigate potential fluctuations in the net interest margin in future periods.

TABLE 8: MATURITIES AND SENSITIVITIES TO CHANGES IN INTEREST RATES

Loans repricing or contractual maturity period As of March 31, 2026 One year or
less From one to
five years From five to
fifteen years After fifteen
years Total (In thousands) Commercial Fixed rate $ 521,142 $ 4,062,342 $ 2,182,827 $ 19,916 $ 6,786,227 Variable rate 10,975,702 1,292 — — 10,976,994 Total commercial $ 11,496,844 $ 4,063,634 $ 2,182,827 $ 19,916 $ 17,763,221 Commercial real estate Fixed rate $ 860,484 $ 2,648,718 $ 345,954 $ 71,217 $ 3,926,373 Variable rate 10,225,429 10,419 65 — 10,235,913 Total commercial real estate $ 11,085,913 $ 2,659,137 $ 346,019 $ 71,217 $ 14,162,286 Home equity Fixed rate $ 9,160 $ 1,141 $ — $ 8 $ 10,309 Variable rate 460,955 — — — 460,955 Total home equity $ 470,115 $ 1,141 $ — $ 8 $ 471,264 Residential real estate Fixed rate $ 20,050 $ 4,549 $ 68,021 $ 1,052,334 $ 1,144,954 Variable rate 126,191 776,281 2,417,740 — 3,320,212 Total residential real estate $ 146,241 $ 780,830 $ 2,485,761 $ 1,052,334 $ 4,465,166 Premium finance receivables - property & casualty Fixed rate $ 7,762,445 $ 127,886 $ — $ — $ 7,890,331 Variable rate — — — — — Total premium finance receivables - property & casualty $ 7,762,445 $ 127,886 $ — $ — $ 7,890,331 Premium finance receivables - life insurance Fixed rate $ 55,951 $ 88,566 $ — $ — $ 144,517 Variable rate 9,051,865 — — — 9,051,865 Total premium finance receivables - life insurance $ 9,107,816 $ 88,566 $ — $ — $ 9,196,382 Consumer and other Fixed rate $ 29,654 $ 8,473 $ 857 $ 842 $ 39,826 Variable rate 82,816 — — — 82,816 Total consumer and other $ 112,470 $ 8,473 $ 857 $ 842 $ 122,642 Total per category Fixed rate $ 9,258,886 $ 6,941,675 $ 2,597,659 $ 1,144,317 $ 19,942,537 Variable rate 30,922,958 787,992 2,417,805 — 34,128,755 Total loans, net of unearned income $ 40,181,844 $ 7,729,667 $ 5,015,464 $ 1,144,317 $ 54,071,292 Less: Existing cash flow hedging derivatives(1) (5,900,000 ) Total loans repricing or maturing in one year or less, adjusted for cash flow hedging activity $ 34,281,844 Variable Rate Loan Pricing by Index: SOFR tenors(2) $ 22,224,818 12- month CMT(3) 7,992,586 Prime 3,011,508 Fed Funds 625,005 Other U.S. Treasury tenors 175,047 Other 99,791 Total variable rate $ 34,128,755

(1) Excludes cash flow hedges with future effective starting dates and those that have matured as of March 31, 2026. The $5.90 billion of cash flow hedging derivatives includes receive fixed swaps, collars and floors of which $4.95 billion were impacting the cash flows of loans indexed to one-month SOFR as of March 31, 2026.
(2) SOFR - Secured Overnight Financing Rate.
(3) CMT - Constant Maturity Treasury Rate.

Graph available at the following link:
http://ml.globenewswire.com/Resource/Download/73886619-830d-4279-b7fe-e334db005633

Source: Bloomberg

As noted in the table on the previous page, the majority of the Company’s portfolio is tied to SOFR and CMT indices which, as shown in the table above, do not mirror the same changes as the Prime rate, which has historically moved when the Federal Reserve raises or lowers interest rates. Specifically, the Company has variable rate loans of $19.5 billion tied to one-month SOFR and $8.0 billion tied to twelve-month CMT. The above chart shows:

Basis Point (bp) Change in 1-month
SOFR 12- month CMT Prime First Quarter 2026 (3 ) bps 20 bps — bps Fourth Quarter 2025 (44 ) (20 ) (50 ) Third Quarter 2025 (19 ) (28 ) (25 ) Second Quarter 2025 — (7 ) — First Quarter 2025 (1 ) (13 ) —

TABLE 9: ALLOWANCE FOR CREDIT LOSSES

Three Months Ended Mar 31, Dec 31, Sep 30, Jun 30, Mar 31, (Dollars in thousands) 2026 2025 2025 2025 2025 Allowance for credit losses at beginning of period $ 460,465 $ 454,586 $ 457,461 $ 448,387 $ 437,060 Provision for credit losses - Other 29,594 27,588 21,768 22,234 23,963 Other adjustments (50 ) 71 (88 ) 180 4 Charge-offs: Commercial 8,428 12,894 21,597 6,148 9,722 Commercial real estate 7,260 5,625 144 5,711 454 Home equity — — 27 111 — Residential real estate 350 — 26 — — Premium finance receivables - property & casualty 7,431 8,354 6,860 6,346 7,114 Premium finance receivables - life insurance — — 18 — 12 Consumer and other 180 203 174 179 147 Total charge-offs 23,649 27,076 28,846 18,495 17,449 Recoveries: Commercial 1,419 956 1,449 1,746 929 Commercial real estate 6 4 241 10 12 Home equity 303 28 104 30 216 Residential real estate 1 1 1 2 136 Premium finance receivables - property & casualty 3,437 4,275 2,459 3,335 3,487 Premium finance receivables - life insurance — — — — — Consumer and other 65 32 37 32 29 Total recoveries 5,231 5,296 4,291 5,155 4,809 Net charge-offs (18,418 ) (21,780 ) (24,555 ) (13,340 ) (12,640 ) Allowance for credit losses at period end $ 471,591 $ 460,465 $ 454,586 $ 457,461 $ 448,387 Annualized net charge-offs (recoveries) by category as a percentage of its own respective category’s average: Commercial 0.17 % 0.29 % 0.49 % 0.11 % 0.23 % Commercial real estate 0.21 0.16 (0.00 ) 0.17 0.01 Home equity (0.26 ) (0.02 ) (0.06 ) 0.07 (0.20 ) Residential real estate 0.03 (0.00 ) 0.00 (0.00 ) (0.02 ) Premium finance receivables - property & casualty 0.20 0.20 0.20 0.16 0.20 Premium finance receivables - life insurance — — 0.00 — 0.00 Consumer and other 0.35 0.47 0.40 0.44 0.45 Total loans, net of unearned income 0.14 % 0.17 % 0.19 % 0.11 % 0.11 % Loans at period end $ 54,071,292 $ 53,105,101 $ 52,063,482 $ 51,041,679 $ 48,708,390 Allowance for loan losses as a percentage of loans at period end 0.72 % 0.71 % 0.74 % 0.77 % 0.78 % Allowance for loan and unfunded lending-related commitment losses as a percentage of loans at period end 0.87 0.87 0.87 0.90 0.92

PCD - Purchase Credit Deteriorated

TABLE 10: ALLOWANCE AND PROVISION FOR CREDIT LOSSES BY COMPONENT

Three Months Ended Mar 31, Dec 31, Sep 30, Jun 30, Mar 31, (In thousands) 2026 2025 2025 2025 2025 Provision for loan losses - Other $ 29,836 $ 14,369 $ 19,610 $ 26,607 $ 26,826 Provision for unfunded lending-related commitments losses - Other (239 ) 13,354 2,160 (4,325 ) (2,852 ) Provision for held-to-maturity securities losses (3 ) (135 ) (2 ) (48 ) (11 ) Provision for credit losses $ 29,594 $ 27,588 $ 21,768 $ 22,234 $ 23,963 Allowance for loan losses $ 390,651 $ 379,283 $ 386,622 $ 391,654 $ 378,207 Allowance for unfunded lending-related commitments losses 80,683 80,922 67,569 65,409 69,734 Allowance for loan losses and unfunded lending-related commitments losses 471,334 460,205 454,191 457,063 447,941 Allowance for held-to-maturity securities losses 257 260 395 398 446 Allowance for credit losses $ 471,591 $ 460,465 $ 454,586 $ 457,461 $ 448,387

PCD - Purchase Credit Deteriorated

TABLE 11: ALLOWANCE BY LOAN PORTFOLIO

The table below summarizes the calculation of allowance for loan losses and allowance for unfunded lending-related commitments losses for the Company’s loan portfolios as well as core and niche portfolios, as of March 31, 2026, December 31, 2025 and September 30, 2025.

As of Mar 31, 2026 As of Dec 31, 2025 As of Sep 30, 2025 (Dollars in thousands) Recorded
Investment Calculated
Allowance % of its
category’s balance Recorded
Investment Calculated
Allowance % of its
category’s balance Recorded
Investment Calculated
Allowance % of its
category’s balance Commercial $ 17,763,221 $ 210,959 1.19 % $ 17,044,686 $ 178,545 1.05 % $ 16,544,342 $ 189,476 1.15 % Commercial real estate: Construction and development 2,323,942 74,092 3.19 2,409,582 93,106 3.86 2,658,153 78,765 2.96 Non-construction 11,838,344 150,778 1.27 11,531,154 153,827 1.33 10,961,054 151,712 1.38 Total commercial real estate $ 14,162,286 $ 224,870 1.59 % $ 13,940,736 $ 246,933 1.77 % $ 13,619,207 $ 230,477 1.69 % Total commercial and commercial real estate $ 31,925,507 $ 435,829 1.37 % $ 30,985,422 $ 425,478 1.37 % $ 30,163,549 $ 419,953 1.39 % Home equity 471,264 10,213 2.17 480,525 10,402 2.16 484,202 9,229 1.91 Residential real estate 4,465,166 13,081 0.29 4,317,232 12,519 0.29 4,143,870 12,013 0.29 Premium finance receivables - property & casualty 7,890,331 10,591 0.13 8,183,416 10,226 0.12 8,366,292 11,187 0.13 Premium finance receivables - life insurance 9,196,382 800 0.01 9,023,642 785 0.01 8,758,553 762 0.01 Consumer and other 122,642 820 0.67 114,864 795 0.69 147,016 1,047 0.71 Total loans, net of unearned income $ 54,071,292 $ 471,334 0.87 % $ 53,105,101 $ 460,205 0.87 % $ 52,063,482 $ 454,191 0.87 % Total core loans(1) $ 32,118,691 $ 408,892 1.27 % $ 31,309,210 $ 412,714 1.32 % $ 30,610,433 $ 408,780 1.34 % Total niche loans(1) 21,952,601 62,442 0.28 21,795,891 47,491 0.22 21,453,049 45,411 0.21

(1) See Table 1 for additional detail on core and niche loans.

TABLE 12: LOAN PORTFOLIO AGING

(In thousands) Mar 31, 2026 Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 Mar 31, 2025 Loan Balances: Commercial Nonaccrual $ 87,750 $ 78,059 $ 66,577 $ 80,877 $ 70,560 90+ days and still accruing — — — — 46 60-89 days past due 9,996 22,952 12,190 34,855 15,243 30-59 days past due 90,389 90,205 36,136 45,103 97,397 Current 17,575,086 16,853,470 16,429,439 16,226,596 15,748,080 Total commercial $ 17,763,221 $ 17,044,686 $ 16,544,342 $ 16,387,431 $ 15,931,326 Commercial real estate Nonaccrual $ 16,757 $ 25,147 $ 28,202 $ 32,828 $ 26,187 90+ days and still accruing — — — — — 60-89 days past due 17,133 19,529 14,119 11,257 6,995 30-59 days past due 54,143 65,601 83,055 51,173 83,653 Current 14,074,253 13,830,459 13,493,831 13,196,752 12,798,066 Total commercial real estate $ 14,162,286 $ 13,940,736 $ 13,619,207 $ 13,292,010 $ 12,914,901 Home equity Nonaccrual $ 1,142 $ 1,221 $ 1,295 $ 1,780 $ 2,070 90+ days and still accruing — — — — — 60-89 days past due 463 1,112 246 138 984 30-59 days past due 2,012 2,818 2,294 2,971 3,403 Current 467,647 475,374 480,367 461,926 449,226 Total home equity $ 471,264 $ 480,525 $ 484,202 $ 466,815 $ 455,683 Residential real estate Early buy-out loans guaranteed by U.S. government agencies(1) $ 145,225 $ 145,793 $ 124,824 $ 134,067 $ 123,742 Nonaccrual 27,360 32,862 28,942 28,047 22,522 90+ days and still accruing — — — — — 60-89 days past due 129 7,562 8,829 8,954 1,351 30-59 days past due 30,854 24,908 95 38 38,943 Current 4,261,598 4,106,107 3,981,180 3,777,676 3,498,601 Total residential real estate $ 4,465,166 $ 4,317,232 $ 4,143,870 $ 3,948,782 $ 3,685,159 Premium finance receivables - property & casualty Nonaccrual $ 33,891 $ 29,354 $ 24,512 $ 30,404 $ 29,846 90+ days and still accruing 15,823 19,115 13,006 14,350 18,081 60-89 days past due 16,188 29,294 23,527 25,641 19,717 30-59 days past due 47,936 57,685 38,133 29,460 39,459 Current 7,776,493 8,047,968 8,267,114 8,223,321 7,132,759 Total Premium finance receivables - property & casualty $ 7,890,331 $ 8,183,416 $ 8,366,292 $ 8,323,176 $ 7,239,862 Premium finance receivables - life insurance Nonaccrual $ — $ — $ — $ — $ — 90+ days and still accruing — — — 327 2,962 60-89 days past due 22,690 13,887 34,016 11,202 10,587 30-59 days past due 58,760 22,806 34,506 34,403 29,924 Current 9,114,932 8,986,949 8,690,031 8,461,028 8,321,667 Total Premium finance receivables - life insurance $ 9,196,382 $ 9,023,642 $ 8,758,553 $ 8,506,960 $ 8,365,140 Consumer and other Nonaccrual $ 16 $ 8 $ 38 $ 41 $ 18 90+ days and still accruing 10 42 60 184 98 60-89 days past due 130 466 49 61 162 30-59 days past due 230 643 159 175 542 Current 122,256 113,705 146,710 116,044 115,499 Total consumer and other $ 122,642 $ 114,864 $ 147,016 $ 116,505 $ 116,319 Total loans, net of unearned income Early buy-out loans guaranteed by U.S. government agencies(1) $ 145,225 $ 145,793 $ 124,824 $ 134,067 $ 123,742 Nonaccrual 166,916 166,651 149,566 173,977 151,203 90+ days and still accruing 15,833 19,157 13,066 14,861 21,187 60-89 days past due 66,729 94,802 92,976 92,108 55,039 30-59 days past due 284,324 264,666 194,378 163,323 293,321 Current 53,392,265 52,414,032 51,488,672 50,463,343 48,063,898 Total loans, net of unearned income $ 54,071,292 $ 53,105,101 $ 52,063,482 $ 51,041,679 $ 48,708,390

(1) Early buy-out loans are insured or guaranteed by the Federal Housing Administration or the U.S. Department of Veterans Affairs, subject to indemnifications and insurance limits for certain loans.

TABLE 13: NON-PERFORMING ASSETS (1)

Mar 31, Dec 31, Sep 30, Jun 30, Mar 31, (Dollars in thousands) 2026 2025 2025 2025 2025 Loans past due greater than 90 days and still accruing: Commercial $ — $ — $ — $ — $ 46 Commercial real estate — — — — — Home equity — — — — — Residential real estate — — — — — Premium finance receivables - property & casualty 15,823 19,115 13,006 14,350 18,081 Premium finance receivables - life insurance — — — 327 2,962 Consumer and other 10 42 60 184 98 Total loans past due greater than 90 days and still accruing 15,833 19,157 13,066 14,861 21,187 Non-accrual loans: Commercial 87,750 78,059 66,577 80,877 70,560 Commercial real estate 16,757 25,147 28,202 32,828 26,187 Home equity 1,142 1,221 1,295 1,780 2,070 Residential real estate 27,360 32,862 28,942 28,047 22,522 Premium finance receivables - property & casualty 33,891 29,354 24,512 30,404 29,846 Premium finance receivables - life insurance — — — — — Consumer and other 16 8 38 41 18 Total non-accrual loans 166,916 166,651 149,566 173,977 151,203 Total non-performing loans: Commercial 87,750 78,059 66,577 80,877 70,606 Commercial real estate 16,757 25,147 28,202 32,828 26,187 Home equity 1,142 1,221 1,295 1,780 2,070 Residential real estate 27,360 32,862 28,942 28,047 22,522 Premium finance receivables - property & casualty 49,714 48,469 37,518 44,754 47,927 Premium finance receivables - life insurance — — — 327 2,962 Consumer and other 26 50 98 225 116 Total non-performing loans $ 182,749 $ 185,808 $ 162,632 $ 188,838 $ 172,390 Other real estate owned 17,439 20,839 24,832 23,615 22,625 Total non-performing assets $ 200,188 $ 206,647 $ 187,464 $ 212,453 $ 195,015 Total non-performing loans by category as a percent of its own respective category’s period-end balance: Commercial 0.49 % 0.46 % 0.40 % 0.49 % 0.44 % Commercial real estate 0.12 0.18 0.21 0.25 0.20 Home equity 0.24 0.25 0.27 0.38 0.45 Residential real estate 0.61 0.76 0.70 0.71 0.61 Premium finance receivables - property & casualty 0.63 0.59 0.45 0.54 0.66 Premium finance receivables - life insurance — — — 0.00 0.04 Consumer and other 0.02 0.04 0.07 0.19 0.10 Total loans, net of unearned income 0.34 % 0.35 % 0.31 % 0.37 % 0.35 % Total non-performing assets as a percentage of total assets 0.28 % 0.29 % 0.27 % 0.31 % 0.30 % Allowance for loan losses and unfunded lending-related commitments losses as a percentage of non-accrual loans 282.38 % 276.15 % 303.67 % 262.71 % 296.25 %

(1) Excludes early buy-out loans guaranteed by U.S. government agencies. Early buy-out loans are insured or guaranteed by the Federal Housing Administration or the U.S. Department of Veterans Affairs, subject to indemnifications and insurance limits for certain loans.

Non-performing Loans Rollforward, excluding early buy-out loans guaranteed by U.S. government agencies

Three Months Ended Mar 31, Dec 31, Sep 30, Jun 30, Mar 31, (In thousands) 2026 2025 2025 2025 2025 Balance at beginning of period $ 185,808 $ 162,632 $ 188,838 $ 172,390 $ 170,823 Additions from becoming non-performing in the respective period 24,969 46,198 34,805 48,651 27,721 Return to performing status (3,663 ) (2,937 ) (3,399 ) (6,896 ) (1,207 ) Payments received (13,780 ) (13,734 ) (28,052 ) (5,602 ) (15,965 ) Transfer to OREO or other assets (868 ) (286 ) (348 ) (2,247 ) — Charge-offs, net (10,930 ) (16,998 ) (21,526 ) (11,734 ) (8,600 ) Net change for premium finance receivables 1,213 10,933 (7,686 ) (5,724 )