EVANSVILLE, Ind., July 22, 2026 (GLOBE NEWSWIRE) --

Old National Bancorp (NASDAQ: ONB) reports 2Q26 net income applicable to common shares of $249.4 million, diluted EPS of $0.65; $250.4 million and $0.65 on an adjusted¹ basis, respectively.

CEO COMMENTARY:

"Our record second quarter results reflect another quarter of disciplined execution and demonstrate the strength of Old National's long-term growth strategy," said Chairman and CEO Jim Ryan. "Over the past several years, we have built a stronger, more diversified franchise with greater scale, capabilities, and opportunities for growth. As we continue that evolution, we're enhancing our leadership structure through the formation of an Operating Group and the expansion of our Executive Leadership Team. These changes position us to move with greater speed, strengthen accountability, and better connect strategy to execution as we build the next chapter of Old National's success."

SECOND QUARTER HIGHLIGHTS²:

Net Income	Record net income applicable to common shares of $249.4 million; record adjusted net income applicable to common shares¹of $250.4 million Earnings per diluted common share ("EPS") of $0.65; record adjusted EPS¹of $0.65

Net Interest Income/NIM	Net interest income on a fully taxable equivalent basis¹of $586.5 million Net interest margin on a fully taxable equivalent basis¹("NIM") of 3.54%, down 1 basis point ("bp")

Operating Performance	Pre-provision net revenue¹("PPNR") of $367.9 million; adjusted PPNR¹of $366.8 million Noninterest expense of $372.2 million; adjusted noninterest expense¹of $360.1 million Record efficiency ratio¹of 47.0%; record adjusted efficiency ratio¹of 45.2%

Deposits and Funding	Period-end total deposits of $56.1 billion, up 3.4% annualized Granular low-cost deposit franchise; total deposit costs of 171 bps, down 1 bp; interest-bearing deposit costs of 223 bps, down 1 bp

Loans and Credit Quality	End-of-period total loans³of $50.8 billion, up $1.0 billion or 8.3% annualized Provision for credit losses⁴("provision") of $36.2 million Net charge-offs of $32.2 million, or 26 bps of average loans; 22 bps excluding purchased credit deteriorated ("PCD") loans that had an allowance at acquisition 30+ day delinquencies of 0.29% and nonaccrual loans of 0.91% of total loans

Return Profile & Capital	Return on average tangible common equity¹("ROATCE") of 19.8%; adjusted ROATCE¹of 19.9% Preliminary regulatory Tier 1 common equity to risk-weighted assets of 11.09%, down 2 bps Repurchased $107 million, or 4.4 million shares, of common stock during the quarter

Notable Items	$13.2 million of pre-tax pension gain⁵ $12.1 million of pre-tax merger-related charges

¹Non-GAAP financial measure that management believes is useful in evaluating the financial results of the Company – refer to the Non-GAAP reconciliations contained in this release ²Comparisons are on a linked-quarter basis, unless otherwise noted ³Includes loans held-for-sale ⁴Includes the provision for unfunded commitments ⁵ Includes a gain associated with the settlement of the Bremer pension plan

EXECUTIVE LEADERSHIP STRUCTURE UPDATE
As a top 25 U.S. bank that is keenly focused on driving organic growth while also positioning the organization for continued success, Old National is pleased to announce structural changes to its senior-most Executive Leadership Team.

Establishment of an Operating Group
Old National’s Operating Group will comprise a subset of the company’s full Executive Leadership Team ("ELT"). Members will focus on enterprise strategy and alignment, emerging growth opportunities, and other critical enterprise-wide initiatives.

Members of the Operating Group are:

Jim Ryan, Chairman and CEO – Evansville, Ind.
Tim Burke, President and COO – Evansville, Ind.
Nick Chulos, Chief Legal Officer – Chicago, Ill.
Carrie Ellspermann, Chief People Officer – Evansville, Ind.
Scott Evernham, Chief Risk Officer – Evansville, Ind.
John Moran, Chief Financial Officer – Evansville, Ind.
Kathy Schoettlin, Chief Communications, Culture & Social Responsibility Officer – Evansville, Ind.
Kendra Vanzo, Chief Administrative Officer – Evansville, Ind.

The roles and responsibilities of Old National’s full ELT will not change. The bank’s ELT will continue to lead operational strategy, advance innovation, scale talent, and work to foster a collaborative, high-performing culture.

Four additional leaders added to the ELT
To further strengthen Old National’s ability to connect its operational strategy to execution and growth, the company is adding four proven leaders to its ELT:

Joe Chasteen, Chief Revenue Enablement Officer – Troy, Mich.
Chris Doyle, Commercial Banking President – Cleveland, Ohio
Annie Hills, Chief of Staff – Evansville, Ind.
John Thurston, Corporate Banking President – Chicago, Ill.

Biographies for these four executive leaders are included on page 6 of this release

Rafael Sanchez named Chief Government and Corporate Affairs Officer
Rafael Sanchez, formerly Old National’s Chief Impact Officer, is transitioning to the new role of Chief Government and Corporate Affairs Officer and retains the Indianapolis Market President role. This transition reflects the growing importance of public policy and stakeholder engagement within the financial industry. Mr. Sanchez will work out of Indianapolis and report directly to Old National Chief Risk Officer Scott Evernham.

Biography for Rafael Sanchez is included on page 6 of this release

RESULTS OF OPERATIONS²
Old National Bancorp reported record second quarter 2026 net income applicable to common shares of $249.4 million, or $0.65 per diluted common share.

Included in second quarter results was a $13.2 million pre-tax gain associated with the settlement of the Bremer pension plan and pre-tax charges of $12.1 million for merger-related expenses. Excluding these items and realized debt securities gains from the current quarter net of tax, record adjusted net income¹ was $250.4 million, or $0.65 per diluted common share.

DEPOSITS AND FUNDING
Increases in public funds and business checking partly offset by normal seasonal outflows of retail deposits.

Period-end total deposits were $56.1 billion, up 3.4% annualized.
On average, total deposits for the second quarter were $55.5 billion, an increase of $479.1 million.
Granular low-cost deposit franchise; total deposit costs of 171 bps, down 1 bp.
A loan to deposit ratio of 91%, combined with existing funding sources, provides strong liquidity.

LOANS
Loan growth driven by strong high quality commercial loan production.

Period-end total loans³ were $50.8 billion, up $1.0 billion or 8.3% annualized, including commercial and industrial growth of $495.0 million, as well as commercial real estate growth of $342.3 million.
Total commercial loan production in the second quarter was $3.5 billion, up 7%; record period-end commercial pipeline totaled $5.6 billion, up 2%.
Average total loans in the second quarter were $50.1 billion, up 7.4% annualized.

CREDIT QUALITY
Credit quality continues to be a hallmark of Old National.

Provision⁴ expense was $36.2 million compared to $34.9 million.
Net charge-offs were $32.2 million, or 26 bps of average loans, consistent with the prior quarter.
- Excluding PCD loans that had an allowance for credit losses established at acquisition, net charge-offs to average loans were 22 bps compared to 19 bps.
30+ day delinquencies as a percentage of loans were 0.29% compared to 0.24%.
Nonaccrual loans as a percentage of total loans were 0.91% compared to 1.03%.
The allowance for credit losses, including the allowance for credit losses on unfunded loan commitments, stood at $612.0 million, or 1.21% of total loans, compared to $608.1 million, or 1.22% of total loans.

NET INTEREST INCOME AND MARGIN
Higher net interest income and stable margin reflective of balance sheet growth and the rate environment.

Net interest income on a fully taxable equivalent basis¹ increased to $586.5 million compared to $580.4 million, driven by high quality loan growth and stable core deposit pricing, partly offset by funding mix.
Net interest margin on a fully taxable equivalent basis¹decreased 1 bp to 3.54%.
Cost of total deposits was 1.71%, decreasing 1 bp and the cost of total interest-bearing deposits decreased 1 bp to 2.23%.

NONINTEREST INCOME
Higher fee income across all line items with other income elevated.

Total noninterest income was $153.6 million, or $140.4 million excluding a $13.2 million pre-tax gain associated with the settlement of the Bremer pension plan, compared to $122.3 million.
Excluding the pension plan gain⁵ in the second quarter of 2026 and realized debt securities gains, noninterest income was up 14.8% driven by higher fee income across all line items with other income elevated by market value adjustments, as well as higher company-owned life insurance income and an asset recovery.

NONINTEREST EXPENSE
Disciplined expense management drives record adjusted efficiency ratio.

Noninterest expense was $372.2 million and included $12.1 million of merger-related charges.
Excluding merger related charges, adjusted noninterest expense¹ increased to $360.1 million, compared to $354.0 million excluding merger-related charges and a $3.4 million non-cash expense associated with the distribution of excess pension assets in the first quarter of 2026.
The efficiency ratio¹ was a record at 47.0%, while the adjusted efficiency ratio¹ was a record at 45.2% compared to 48.3% and 45.7%, respectively.

INCOME TAXES

Income tax expense was $70.8 million, resulting in an effective tax rate of 21.8% compared to 20.9%. On an adjusted fully taxable equivalent ("FTE") basis¹, the effective tax rate was 23.0% compared to 22.9%.
Income tax expense included $9.9 million of tax credit benefit compared to $8.7 million.

CAPITAL
Capital ratios remain strong.

Preliminary total risk-based capital down 6 bps to 13.65% and preliminary regulatory Tier 1 capital down 3 bps to 11.53%, as growth in loans and share repurchases is partly offset by strong retained earnings.
Tangible common equity to tangible assets was 7.68% compared to 7.67%.
The Company repurchased $107 million of common stock and paid $56 million of quarterly common stock cash dividends during the quarter resulting in a combined payout ratio of 65%.

CONFERENCE CALL AND WEBCAST
Old National will host a conference call and live webcast at 9:00 a.m. Central Time on Wednesday, July 22, 2026, to review second quarter financial results. To listen to the live conference call, dial U.S./International (833) 461-5787, meeting ID 181 433 839. The live audio webcast link and corresponding presentation slides will be available on the Company’s Investor Relations website at oldnational.com and the webcast replay will be available approximately two hours after completion of the call until midnight ET on July 22, 2027.

ABOUT OLD NATIONAL
Old National Bancorp (NASDAQ: ONB) is the holding company of Old National Bank. As the fifth largest commercial bank headquartered in the Midwest, Old National proudly serves clients primarily in the Midwest and Southeast. With approximately $74 billion of assets and $41 billion of assets under management, Old National ranks among the top 25 banking companies headquartered in the United States. Tracing our roots to 1834, Old National focuses on building long-term, highly valued partnerships with clients while also strengthening and supporting the communities we serve. In addition to providing extensive services in consumer and commercial banking, Old National offers comprehensive wealth management and capital markets services. For more information and financial data, please visit Investor Relations at oldnational.com. In 2026, Points of Light named Old National one of "The Civic 50" for the third consecutive year – an honor recognizing the 50 most community-minded companies in the United States – and also named Old National the Financials Sector Leader among nominated banks and financial services organizations.

USE OF NON-GAAP FINANCIAL MEASURES
The Company's accounting and reporting policies conform to U.S. generally accepted accounting principles ("GAAP") and general practices within the banking industry. As a supplement to GAAP, the Company provides non-GAAP performance results, which the Company believes are useful because they assist investors in assessing the Company's operating performance. Where non-GAAP financial measures are used, the comparable GAAP financial measure, as well as the reconciliation to the comparable GAAP financial measure, can be found in the tables at the end of this release.

The Company presents EPS, the efficiency ratio, return on average common equity, return on average tangible common equity, and net income applicable to common shares, all adjusted for certain notable items. These items include a pension plan gain/loss, merger-related charges associated with completed and pending acquisitions, debt securities gains/losses, distribution of excess pension assets expense, FDIC special assessment expense, and CECL Day 1 non-PCD provision expense. Management believes excluding these items from EPS, the efficiency ratio, return on average common equity, and return on average tangible common equity may be useful in assessing the Company's underlying operational performance since these items do not pertain to its core business operations and their exclusion may facilitate better comparability between periods. Management believes that excluding merger-related charges from these metrics may be useful to the Company, as well as analysts and investors, since these expenses can vary significantly based on the size, type, and structure of each acquisition. Additionally, management believes excluding these items from these metrics may enhance comparability for peer comparison purposes.

Income tax expense, provision for credit losses, and the certain notable items listed above are excluded from the calculation of pre-provision net revenues, adjusted due to the fluctuation in income before income tax and the level of provision for credit losses required. Management believes adjusted pre-provision net revenues may be useful in assessing the Company's underlying operating performance and their exclusion may facilitate better comparability between periods and for peer comparison purposes.

The Company presents adjusted noninterest expense, which excludes merger-related charges associated with completed and pending acquisitions, distribution of excess pension assets expense, and FDIC special assessment expense, as well as adjusted noninterest income, which excludes a pension plan gain/loss and debt securities gains/losses. Management believes that excluding these items from noninterest expense and noninterest income may be useful in assessing the Company’s underlying operational performance as these items either do not pertain to its core business operations or their exclusion may facilitate better comparability between periods and for peer comparison purposes.

The tax-equivalent adjustment to net interest income and net interest margin recognizes the income tax savings when comparing taxable and tax-exempt assets. Interest income and yields on tax-exempt securities and loans are presented using the current federal income tax rate of 21%. Management believes that it is standard practice in the banking industry to present net interest income and net interest margin on a fully tax-equivalent basis and that it may enhance comparability for peer comparison purposes.

In management's view, tangible common equity measures are capital adequacy metrics that may be meaningful to the Company, as well as analysts and investors, in assessing the Company's use of equity and in facilitating comparisons with peers. These non-GAAP measures are valuable indicators of a financial institution's capital strength since they eliminate intangible assets from stockholders' equity and retain the effect of accumulated other comprehensive loss in stockholders' equity.

Although intended to enhance investors' understanding of the Company's business and performance, these non-GAAP financial measures should not be considered an alternative to GAAP. In addition, these non-GAAP financial measures may differ from those used by other financial institutions to assess their business and performance. See the following reconciliations in the "Non-GAAP Reconciliations" section for details on the calculation of these measures to the extent presented herein.

FORWARD-LOOKING STATEMENTS
This earnings release contains certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the “Act”), Section 27A of the Securities Act of 1933 and Rule 175 promulgated thereunder, and Section 21E of the Securities Exchange Act of 1934 and Rule 3b-6 promulgated thereunder, notwithstanding that such statements are not specifically identified as such. In addition, certain statements may be contained in our future filings with the Securities and Exchange Commission ("SEC"), in press releases, and in oral and written statements made by us that are not statements of historical fact and constitute forward‐looking statements within the meaning of the Act. These statements include, but are not limited to, descriptions of Old National’s financial condition, results of operations, asset and credit quality trends, profitability and business plans or opportunities. Forward-looking statements can be identified by the use of words such as "anticipate," "believe," "contemplate," "continue," "could," "estimate," "expect," "guidance," "intend," "may," "outlook," "plan," "potential," "predict," "should," "would," and "will," and other words of similar meaning. These forward-looking statements express management’s current expectations or forecasts of future events and, by their nature, are subject to risks and uncertainties. There are a number of factors that could cause actual results or outcomes to differ materially from those in such statements, including, but not limited to: competition; government legislation, regulations and policies, including trade and tariff policies; the ability of Old National to execute its business plan; unanticipated changes in our liquidity position, including but not limited to changes in our access to sources of liquidity and capital to address our liquidity needs; changes in economic conditions and economic and business uncertainty which could materially impact credit quality trends and the ability to generate loans and gather deposits; inflation and governmental responses to inflation, including increasing interest rates; market, economic, operational, liquidity, credit, and interest rate risks associated with our business; our ability to successfully manage our credit risk and the sufficiency of our allowance for credit losses; the potential impact of future business combinations on our performance and financial condition, including our ability to successfully integrate the businesses, the success of revenue-generating and cost reduction initiatives and the diversion of management’s attention from ongoing business operations and opportunities; failure or circumvention of our internal controls; operational risks or risk management failures by us or critical third parties, including without limitation with respect to data processing, information systems, cybersecurity, technological changes, vendor issues, business interruption, and fraud risks; significant changes in accounting, tax or regulatory practices or requirements; new legal obligations or liabilities; disruptive technologies in payment systems and other services traditionally provided by banks; failure or disruption of our information systems; computer hacking and other cybersecurity threats; the effects of climate change on Old National and its customers, borrowers, or service providers; the impacts of pandemics, epidemics and other infectious disease outbreaks; other matters discussed in this earnings release; and other factors identified in our Annual Report on Form 10-K for the year ended December 31, 2025 and other filings with the SEC. These forward-looking statements are based on assumptions and estimates, which although believed to be reasonable, may turn out to be incorrect. Old National does not undertake an obligation to update these forward-looking statements to reflect events or conditions after the date of this earnings release. You are advised to consult further disclosures we may make on related subjects in our filings with the SEC.

CONTACTS:
Media: Scott Reinhard	Investors: Lynell Durchholz
(612) 716-0304	(812) 464-1366
Scott.Reinhard@oldnational.com	Lynell.Durchholz@oldnational.com

OLD NATIONAL EXECUTIVE LEADER BIOGRAPHIES

Joe Chasteen
Chief Revenue Enablement Officer
Joe Chasteen is Chief Revenue Enablement Officer at Old National Bank, a strategic leadership role focused on advancing organic growth and revenue generation across the company. Joe brings nearly 30 years of business banking and enterprise leadership experience, having held senior roles with large financial institutions across the country.

Joe has served as a member of the Consumer Bankers Association Business Banking Committee and is a graduate of the CBA Executive Banking School. He earned a bachelor’s degree in Marketing Management from Michigan State University and a master’s degree in Finance, with an emphasis in Economics, from Walsh College.

Christopher Doyle
Commercial Banking President
Christopher Doyle is President of Commercial Banking at Old National Bank. He brings more than 20 years of banking experience to the role.

At Old National, Chris leads Commercial & Industrial Banking, Middle Market Banking, Commercial Real Estate, Agricultural Lending, SBA Lending, Asset-Based Lending, Family Office, Expansion Markets, and SBIC strategy. He is active in the Cleveland, Ohio community and serves on several nonprofit boards, including Urban Community School and Boys & Girls Clubs of Greater Cleveland. Chris earned a Bachelor of Business Administration in Finance from Saint Louis University.

Annie Hills
Chief of Staff
Annie Hills is Chief of Staff to the CEO at Old National Bank. In this role, she supports key strategic priorities, executive leadership initiatives, and alignment among the CEO, ELT and Board of Directors. She joined the company in 2020 as an attorney in the legal department.

Annie earned her bachelor’s degrees in Political Science and Criminal Justice from Indiana University and her law degree from the Indiana University Robert H. McKinney School of Law. She is involved in workforce development and emerging talent initiatives, including the Orr Fellowship and Indiana’s Youth Apprenticeship Program, and serves on the Evansville Orr Fellowship Advisory Board.

Rafael Sanchez
Chief Government and Corporate Affairs Officer & Indianapolis Market President
Rafael Sanchez is Chief Government and Corporate Affairs Officer & Indianapolis Market President for Old National Bank. He most recently served as Old National’s Chief Impact Officer where he led the organization and launch of Generations Community Bank. Rafael is an attorney and former President and CEO of Indianapolis Power & Light Company (IPL, now AES Indiana).

A native of Puerto Rico, Rafael holds a bachelor’s degree in Social Sciences and Political Science from the University of Puerto Rico, and a law degree from the Indiana University Maurer School of Law.

Through his commitment and passion for the Indianapolis community, Rafael has served on numerous boards and community initiatives. He currently serves as Board Chair for Community Health Network and serves on the boards of The Children’s Museum of Indianapolis, the Indy Economic Development Corporation, the Center for Justice & Exoneration Network, Young Presidents Organization (YPO Gold), and Generations Community Bank.

In 2017, Rafael received the Sagamore of the Wabash award from Governor Eric Holcomb for his civic leadership in Indianapolis.

John Thurston
Corporate Banking President
John Thurston is President of Corporate Banking at Old National Bank. He joined Old National in 2023, and most recently served as Corporate Banking Director before being appointed to lead the Corporate Bank, which serves Old National’s largest commercial banking clients and specialty banking clients. John has more than 30 years of banking experience spanning multiple geographies, lines of business, and industry verticals.

A longtime Chicago resident, John is active in the community and serves on the boards of Christ the King Jesuit College Prep and Mercy Home for Boys & Girls. He earned a Bachelor of Business Administration and a Bachelor of Arts in Finance and Business Economics from the University of Notre Dame.


Financial Highlights (unaudited)
($ and shares in thousands, except per share data)

	Three Months Ended															Six Months Ended
	June 30,			March 31,			December 31,			September 30,			June 30,			June 30,			June 30,
		2026			2026			2025			2025			2025			2026			2025
Income Statement
Net interest income	$	578,988		$	572,573		$	580,832		$	574,609		$	514,790		$	1,151,561		$	902,433
FTE adjustment^1,3		7,510			7,849			8,013			7,975			7,063			15,359			12,423
Net interest income - tax equivalent basis³		586,498			580,422			588,845			582,584			521,853			1,166,920			914,856
Provision for credit losses		36,206			34,946			32,745			26,738			106,835			71,152			138,238
Noninterest income		153,564			122,346			109,759			130,461			132,517			275,910			226,311
Noninterest expense		372,161			364,704			386,320			445,734			384,766			736,865			653,237
Net income applicable to common shareholders		249,381			229,638			212,589			178,533			121,375		$	479,019			262,000
Per Common Share Data
Weighted average diluted shares		383,273			388,054			389,550			390,496			361,436			385,697			340,250
EPS, diluted	$	0.65		$	0.59		$	0.55		$	0.46		$	0.34		$	1.24		$	0.77
Cash dividends		0.145			0.145			0.140			0.140			0.140			0.29			0.28
Dividend payout ratio²		22	%		25	%		25	%		30	%		41	%		23	%		36	%
Book value	$	21.80		$	21.40		$	21.17		$	20.64		$	20.12		$	21.80		$	20.12
Stock price		25.90			22.10			22.31			21.95			21.34			25.90			21.34
Tangible book value³		14.32			13.93			13.71			13.15			12.60			14.32			12.60
Performance Ratios
ROAA		1.38	%		1.29	%		1.21	%		1.03	%		0.77	%		1.34	%		0.91	%
ROAE		12.1	%		11.1	%		10.4	%		9.0	%		6.7	%		11.6	%		7.8	%
ROATCE³		19.8	%		18.4	%		17.8	%		15.9	%		12.0	%		19.1	%		13.4	%
NIM (FTE)³		3.54	%		3.55	%		3.65	%		3.64	%		3.53	%		3.54	%		3.41	%
Efficiency ratio³		47.0	%		48.3	%		51.6	%		58.8	%		55.8	%		47.6	%		54.9	%
NCOs to average loans		0.26	%		0.26	%		0.27	%		0.25	%		0.24	%		0.26	%		0.24	%
ACL on loans to EOP loans		1.14	%		1.15	%		1.17	%		1.19	%		1.18	%		1.14	%		1.18	%
ACL⁴to EOP loans		1.21	%		1.22	%		1.24	%		1.26	%		1.24	%		1.21	%		1.24	%
NPLs to EOP loans		0.91	%		1.03	%		1.07	%		1.23	%		1.24	%		0.91	%		1.24	%
Balance Sheet (EOP)
Total loans	$	50,772,584		$	49,731,844		$	48,764,162		$	47,967,915		$	47,902,819		$	50,772,584		$	47,902,819
Total assets		74,189,417			73,002,651			72,151,967			71,210,162			70,979,805			74,189,417			70,979,805
Total deposits		56,146,770			55,672,472			55,088,195			55,006,184			54,357,683			56,146,770			54,357,683
Total borrowed funds		8,423,983			7,823,198			7,451,367			6,766,381			7,346,098			8,423,983			7,346,098
Total shareholders' equity		8,583,843			8,510,653			8,494,788			8,309,271			8,126,387			8,583,843			8,126,387
Capital Ratios³
Risk-based capital ratios (EOP):
Tier 1 common equity		11.09	%		11.11	%		11.08	%		11.02	%		10.74	%		11.09	%		10.74	%
Tier 1 capital		11.53	%		11.56	%		11.53	%		11.49	%		11.20	%		11.53	%		11.20	%
Total capital		13.65	%		13.71	%		12.85	%		12.78	%		12.59	%		13.65	%		12.59	%
Leverage ratio (average assets)		8.95	%		8.93	%		8.90	%		8.72	%		9.26	%		8.95	%		9.26	%
Equity to assets (averages)		11.61	%		11.79	%		11.73	%		11.48	%		11.38	%		11.70	%		11.66	%
TCE to TA		7.68	%		7.67	%		7.72	%		7.53	%		7.26	%		7.68	%		7.26	%
Nonfinancial Data
Full-time equivalent employees		4,914			4,948			4,971			5,243			5,313			4,914			5,313
Banking centers		346			346			346			351			351			346			351
¹Calculated using the federal statutory tax rate in effect of 21% for all periods.
²Cash dividends per common share divided by net income per common share (basic).
³Represents a non-GAAP financial measure. Refer to the "Non-GAAP Measures" table for reconciliations to GAAP financial measures.
⁴Includes the allowance for credit losses on loans and unfunded loan commitments.

June 30, 2026 capital ratios are preliminary.
FTE - Fully taxable equivalent basis ROAA - Return on average assets ROAE - Return on average equity ROATCE - Return on average tangible common equity NCOs - Net Charge-offs ACL - Allowance for Credit Losses EOP - End of period actual balances NPLs - Non-performing Loans TCE - Tangible common equity TA - Tangible assets


Income Statement (unaudited)
($ and shares in thousands, except per share data)
	Three Months Ended															Six Months Ended
	June 30,			March 31,			December 31,			September 30,			June 30,			June 30,			June 30,
		2026			2026			2025			2025			2025			2026			2025
Interest income	$	894,391		$	877,391		$	897,301		$	917,192		$	824,961		$	1,771,782		$	1,455,360
Less: interest expense		315,403			304,818			316,469			342,583			310,171			620,221			552,927
Net interest income		578,988			572,573			580,832			574,609			514,790			1,151,561			902,433
Provision for credit losses		36,206			34,946			32,745			26,738			106,835			71,152			138,238
Net interest income after provision for credit losses		542,782			537,627			548,087			547,871			407,955			1,080,409			764,195
Wealth and investment services fees		42,098			39,715			39,012			39,684			35,817			81,813			65,465
Service charges on deposit accounts		28,009			26,937			27,516			27,856			23,878			54,946			45,034
Debit card and ATM fees		13,092			12,038			13,178			13,197			12,922			25,130			22,913
Mortgage banking revenue		11,163			9,554			11,053			10,442			10,032			20,717			16,911
Capital markets income		12,329			11,016			13,080			12,629			7,114			23,345			11,620
Company-owned life insurance		8,531			7,561			7,099			7,565			6,625			16,092			12,006
Other income		38,376			15,450			(1,252	)		19,081			36,170			53,826			52,479
Debt securities gains (losses), net		(34	)		75			73			7			(41	)		41			(117	)
Total noninterest income		153,564			122,346			109,759			130,461			132,517			275,910			226,311
Salaries and employee benefits		184,765			184,073			187,251			211,345			202,112			368,838			350,417
Occupancy		33,452			36,995			35,243			34,442			30,432			70,447			59,485
Equipment		11,077			12,075			14,184			12,703			12,566			23,152			21,467
Marketing		15,601			16,434			14,418			15,093			13,759			32,035			25,699
Technology		29,630			29,025			30,882			36,122			31,452			58,655			53,472
Communication		6,130			6,196			6,726			7,742			5,014			12,326			9,148
Professional fees		10,735			12,356			18,454			13,598			21,931			23,091			29,850
FDIC assessment		13,592			13,756			11,190			14,095			13,409			27,348			23,109
Amortization of intangibles		23,992			25,623			26,016			26,184			19,630			49,615			26,460
Amortization of tax credit investments		7,807			7,111			9,822			7,057			5,815			14,918			9,239
Other expense		35,380			21,060			32,134			67,353			28,646			56,440			44,891
Total noninterest expense		372,161			364,704			386,320			445,734			384,766			736,865			653,237
Income before income taxes		324,185			295,269			271,526			232,598			155,706			619,454			337,269
Income tax expense		70,771			61,597			54,903			50,031			30,298			132,368			67,202
Net income	$	253,414		$	233,672		$	216,623		$	182,567		$	125,408		$	487,086		$	270,067
Preferred dividends		(4,033	)		(4,034	)		(4,034	)		(4,034	)		(4,033	)		(8,067	)		(8,067	)
Net income applicable to common shares	$	249,381		$	229,638		$	212,589		$	178,533		$	121,375		$	479,019		$	262,000

EPS, diluted	$	0.65		$	0.59		$	0.55		$	0.46		$	0.34		$	1.24		$	0.77
Weighted Average Common Shares Outstanding
Basic		381,864			385,849			387,862			389,038			360,155			383,845			338,162
Diluted		383,273			388,054			389,550			390,496			361,436			385,697			340,250
(EOP)		382,537			386,315			389,662			390,768			391,818			382,537			391,818


End of Period Balance Sheet (unaudited)
($ in thousands)
	June 30,			March 31,			December 31,			September 30,			June 30,
		2026			2026			2025			2025			2025
Assets
Cash and due from banks	$	588,654		$	537,322		$	591,645		$	491,910		$	637,556
Money market and other interest-earning investments		1,179,526			1,216,826			1,234,532			1,190,707			1,171,015
Investments:
Treasury and government-sponsored agencies		2,358,509			2,371,903			2,427,371			2,402,375			2,445,733
Mortgage-backed securities		10,460,468			10,295,623			10,078,358			10,117,015			9,632,206
States and political subdivisions		1,442,703			1,454,444			1,570,888			1,579,802			1,590,272
Other securities		821,719			814,990			825,761			849,911			852,687
Total investments		15,083,399			14,936,960			14,902,378			14,949,103			14,520,898
Loans held-for-sale, at fair value		43,608			56,128			52,911			80,341			77,618
Loans:
Commercial		16,112,685			15,617,656			14,983,861			14,506,375			14,662,916
Commercial real estate		22,535,229			22,192,900			22,050,007			22,083,734			21,879,785
Residential real estate		8,760,832			8,621,409			8,467,496			8,190,127			8,212,242
Consumer		3,363,838			3,299,879			3,262,798			3,187,679			3,147,876
Total loans		50,772,584			49,731,844			48,764,162			47,967,915			47,902,819
Allowance for credit losses on loans		(580,511	)		(574,358	)		(569,520	)		(572,178	)		(565,109	)
Premises and equipment, net		682,065			690,400			690,824			691,950			682,539
Goodwill and other intangible assets		2,862,427			2,886,419			2,907,986			2,926,960			2,944,372
Company-owned life insurance		1,053,333			1,054,824			1,051,009			1,044,780			1,046,693
Accrued interest receivable and other assets		2,504,332			2,466,286			2,526,040			2,438,674			2,561,404
Total assets	$	74,189,417		$	73,002,651		$	72,151,967		$	71,210,162		$	70,979,805

Liabilities and Equity
Noninterest-bearing demand deposits	$	12,665,278		$	12,927,096		$	13,247,483		$	12,691,658		$	12,652,556
Interest-bearing:
Checking and NOW accounts		11,129,286			10,969,731			10,740,919			11,162,121			10,554,889
Savings accounts		4,924,639			4,985,949			4,909,138			4,958,555			5,058,819
Money market accounts		16,936,441			16,871,237			16,529,631			17,032,446			16,880,190
Time deposits		10,491,126			9,918,459			9,661,024			9,161,404			9,211,229
Total deposits		56,146,770			55,672,472			55,088,195			55,006,184			54,357,683

Federal funds purchased and interbank borrowings		250,389			200,583			100,197			1			340,246
Securities sold under agreements to repurchase		265,301			264,518			261,366			277,594			297,637
Federal Home Loan Bank advances		6,520,296			6,026,801			6,237,375			5,663,361			5,835,918
Other borrowings		1,387,997			1,331,296			852,429			825,425			872,297
Total borrowed funds		8,423,983			7,823,198			7,451,367			6,766,381			7,346,098
Accrued expenses and other liabilities		1,034,821			996,328			1,117,617			1,128,326			1,149,637
Total liabilities		65,605,574			64,491,998			63,657,179			62,900,891			62,853,418
Preferred stock, common stock, surplus, and retained earnings		9,141,984			9,053,907			8,973,459			8,833,662			8,725,995
Accumulated other comprehensive income (loss), net of tax		(558,141	)		(543,254	)		(478,671	)		(524,391	)		(599,608	)
Total shareholders' equity		8,583,843			8,510,653			8,494,788			8,309,271			8,126,387
Total liabilities and shareholders' equity	$	74,189,417		$	73,002,651		$	72,151,967		$	71,210,162		$	70,979,805


Average Balance Sheet and Interest Rates (unaudited)
($ in thousands)


	Three Months Ended							Three Months Ended							Three Months Ended
	June 30, 2026							March 31, 2026							June 30, 2025
	Average			Income¹/		Yield/		Average			Income¹/		Yield/		Average			Income¹/		Yield/
Earning Assets:	Balance			Expense		Rate		Balance			Expense		Rate		Balance			Expense		Rate
Money market and other interest-earning investments	$	1,212,043		$	11,121	3.68	%	$	1,215,029		$	10,944	3.65	%	$	1,424,700		$	14,791	4.16	%
Investments:
Treasury and government-sponsored agencies		2,349,871			18,993	3.23	%		2,418,767			19,121	3.16	%		2,396,691			20,820	3.47	%
Mortgage-backed securities		10,428,343			111,157	4.26	%		10,267,648			107,465	4.19	%		8,567,318			87,734	4.10	%
States and political subdivisions		1,450,389			12,017	3.31	%		1,525,277			12,541	3.29	%		1,596,899			13,402	3.36	%
Other securities		828,774			12,395	5.98	%		839,943			13,377	6.37	%		970,581			15,770	6.50	%
Total investments		15,057,377			154,562	4.11	%		15,051,635			152,504	4.05	%		13,531,489			137,726	4.07	%
Loans:²
Commercial		15,792,290			238,663	6.05	%		15,305,376			233,440	6.10	%		13,240,876			219,446	6.63	%
Commercial real estate		22,234,235			339,925	6.12	%		22,056,911			335,948	6.09	%		20,022,403			316,422	6.32	%
Residential real estate loans		8,722,341			103,162	4.73	%		8,534,092			98,953	4.64	%		7,792,440			88,852	4.56	%
Consumer		3,323,663			54,468	6.57	%		3,270,505			53,451	6.63	%		3,049,341			54,787	7.21	%
Total loans		50,072,529			736,218	5.88	%		49,166,884			721,792	5.88	%		44,105,060			679,507	6.16	%

Total earning assets	$	66,341,949		$	901,901	5.44	%	$	65,433,548		$	885,240	5.42	%	$	59,061,249		$	832,024	5.64	%

Less: Allowance for credit losses on loans		(580,550	)						(573,105	)						(404,871	)

Non-earning Assets:
Cash and due from banks	$	545,346						$	548,932						$	426,513
Other assets		6,991,436							7,044,468							6,403,239

Total assets	$	73,298,181						$	72,453,843						$	65,486,130

Interest-Bearing Liabilities:
Checking and NOW accounts	$	11,106,289		$	47,349	1.71	%	$	10,966,236		$	46,295	1.71	%	$	9,672,146		$	41,862	1.74	%
Savings accounts		4,950,785			3,032	0.25	%		4,920,639			3,011	0.25	%		4,968,232			3,777	0.30	%
Money market accounts		16,485,000			99,903	2.43	%		16,542,693			99,956	2.45	%		15,282,970			113,542	2.98	%
Time deposits		10,145,661			87,220	3.45	%		9,749,234			84,069	3.50	%		8,318,060			80,907	3.90	%
Total interest-bearing deposits		42,687,735			237,504	2.23	%		42,178,802			233,331	2.24	%		38,241,408			240,088	2.52	%

Federal funds purchased and interbank borrowings		42,228			391	3.71	%		3,634			23	2.57	%		88,603			953	4.31	%
Securities sold under agreements to repurchase		257,217			561	0.87	%		260,865			594	0.92	%		295,948			636	0.86	%
Federal Home Loan Bank advances		6,561,147			61,744	3.77	%		6,303,888			58,052	3.73	%		6,037,462			59,042	3.92	%
Other borrowings		1,360,976			15,203	4.48	%		1,172,559			12,818	4.43	%		828,214			9,452	4.58	%
Total borrowed funds		8,221,568			77,899	3.80	%		7,740,946			71,487	3.75	%		7,250,227			70,083	3.88	%

Total interest-bearing liabilities	$	50,909,303		$	315,403	2.48	%	$	49,919,748		$	304,818	2.48	%	$	45,491,635		$	310,171	2.73	%

Noninterest-Bearing Liabilities and Shareholders' Equity:
Demand deposits	$	12,860,401						$	12,890,201						$	11,568,854
Other liabilities		1,020,272							1,099,674							973,525
Shareholders' equity		8,508,205							8,544,220							7,452,116

Total liabilities and shareholders' equity	$	73,298,181						$	72,453,843						$	65,486,130

Net interest rate spread						2.96	%						2.94	%						2.91	%

Net interest margin (GAAP)						3.49	%						3.50	%						3.49	%

Net interest margin (FTE)³						3.54	%						3.55	%						3.53	%

FTE adjustment				$	7,510						$	7,849						$	7,063

¹Interest income is reflected on a FTE basis.
²Includes loans held-for-sale.
³Represents a non-GAAP financial measure. Refer to the "Non-GAAP Measures" table for reconciliations to GAAP financial measures.


Average Balance Sheet and Interest Rates (unaudited)
($ in thousands)


	Six Months Ended							Six Months Ended
	June 30, 2026							June 30, 2025
	Average			Income¹/		Yield/		Average			Income¹/		Yield/
Earning Assets:	Balance			Expense		Rate		Balance			Expense		Rate
Money market and other interest-earning investments	$	1,213,528		$	22,065	3.67	%	$	1,109,634		$	23,606	4.29	%
Investments:
Treasury and government-sponsored agencies		2,384,129			38,114	3.20	%		2,357,995			40,839	3.46	%
Mortgage-backed securities		10,348,439			218,622	4.23	%		7,433,868			142,257	3.83	%
States and political subdivisions		1,487,627			24,558	3.30	%		1,603,821			26,644	3.32	%
Other securities		834,327			25,772	6.18	%		871,262			26,282	6.03	%
Total investments	$	15,054,522		$	307,066	4.08	%	$	12,266,946		$	236,022	3.85	%
Loans:²
Commercial		15,550,178			472,103	6.07	%		11,827,287			385,041	6.51	%
Commercial real estate		22,146,063			675,873	6.10	%		18,128,526			562,357	6.20	%
Residential real estate loans		8,628,736			202,115	4.68	%		7,306,465			156,500	4.28	%
Consumer		3,297,231			107,919	6.60	%		2,960,769			104,257	7.10	%
Total loans		49,622,208			1,458,010	5.88	%		40,223,047			1,208,155	6.01	%

Total earning assets	$	65,890,258		$	1,787,141	5.43	%	$	53,599,627		$	1,467,783	5.48	%

Less: Allowance for credit losses on loans		(576,848	)						(401,835	)

Non-earning Assets:
Cash and due from banks	$	547,129						$	399,620
Other assets		7,017,805							5,901,705

Total assets	$	72,878,344						$	59,499,117

Interest-Bearing Liabilities:
Checking and NOW accounts	$	11,036,650		$	93,644	1.71	%	$	8,853,822		$	71,325	1.62	%
Savings accounts		4,935,795			6,043	0.25	%		4,830,998			7,385	0.31	%
Money market accounts		16,513,687			199,859	2.44	%		13,523,239			202,817	3.02	%
Time deposits		9,948,542			171,289	3.47	%		7,644,494			149,056	3.93	%
Total interest-bearing deposits		42,434,674			470,835	2.24	%		34,852,553			430,583	2.49	%

Federal funds purchased and interbank borrowings		23,038			414	3.62	%		118,202			2,578	4.40	%
Securities sold under agreements to repurchase		259,031			1,155	0.90	%		284,518			1,187	0.84	%
Federal Home Loan Bank advances		6,433,228			119,796	3.76	%		5,255,372			100,938	3.87	%
Other borrowings		1,267,288			28,021	4.46	%		752,408			17,641	4.73	%
Total borrowed funds		7,982,585			149,386	3.77	%		6,410,500			122,344	3.85	%

Total interest-bearing liabilities		50,417,259			620,221	2.48	%		41,263,053			552,927	2.70	%

Noninterest-Bearing Liabilities and Shareholders' Equity:
Demand deposits	$	12,875,219						$	10,339,594
Other liabilities		1,059,753							959,309
Shareholders' equity		8,526,113							6,937,161

Total liabilities and shareholders' equity	$	72,878,344						$	59,499,117

Net interest rate spread						2.95	%						2.78	%

Net interest margin (GAAP)						3.50	%						3.37	%

Net interest margin (FTE)³						3.54	%						3.41	%

FTE adjustment				$	15,359						$	12,423

¹Interest income is reflected on a FTE.
²Includes loans held-for-sale.
³Represents a non-GAAP financial measure. Refer to the "Non-GAAP Measures" table for reconciliations to GAAP financial measures.


Asset Quality (EOP) (unaudited)
($ in thousands)

	Three Months Ended															Six Months Ended
	June 30,			March 31,			December 31,			September 30,			June 30,			June 30,			June 30,
		2026			2026			2025			2025			2025			2026			2025
Allowance for credit losses:
Beginning allowance for credit losses on loans	$	574,358		$	569,520		$	572,178		$	565,109		$	401,932		$	569,520		$	392,522
Allowance established for acquired PCD loans		—			—			—			13,104			90,442			—			90,442
Provision for credit losses on loans		38,400			36,854			29,450			24,003			99,263			75,254			130,289
Gross charge-offs		(41,540	)		(37,307	)		(35,131	)		(35,402	)		(29,954	)		(78,847	)		(54,494	)
Gross recoveries		9,293			5,291			3,023			5,364			3,426			14,584			6,350
NCOs		(32,247	)		(32,016	)		(32,108	)		(30,038	)		(26,528	)		(64,263	)		(48,144	)
Ending allowance for credit losses on loans	$	580,511		$	574,358		$	569,520		$	572,178		$	565,109		$	580,511		$	565,109
Beginning allowance for credit losses on unfunded commitments	$	33,725		$	35,633		$	32,338		$	29,603		$	22,031		$	35,633		$	21,654
Provision (release) for credit losses on unfunded commitments		(2,194	)		(1,908	)		3,295			2,735			7,572			(4,102	)		7,949
Ending allowance for credit losses on unfunded commitments	$	31,531		$	33,725		$	35,633		$	32,338		$	29,603		$	31,531		$	29,603
Allowance for credit losses	$	612,042		$	608,083		$	605,153		$	604,516		$	594,712		$	612,042		$	594,712
Provision for credit losses on loans	$	38,400		$	36,854		$	29,450		$	24,003		$	99,263		$	75,254		$	130,289
Provision (release) for credit losses on unfunded commitments		(2,194	)		(1,908	)		3,295			2,735			7,572			(4,102	)		7,949
Provision for credit losses	$	36,206		$	34,946		$	32,745		$	26,738		$	106,835		$	71,152		$	138,238
NCOs / average loans¹		0.26	%		0.26	%		0.27	%		0.25	%		0.24	%		0.26	%		0.24	%
Average loans¹	$	50,062,552		$	49,157,096		$	48,199,086		$	48,153,186		$	44,075,472		$	49,612,325		$	40,201,289
EOP loans¹		50,772,584			49,731,844			48,764,162			47,967,915			47,902,819			50,772,584			47,902,819
ACL on loans / EOP loans¹		1.14	%		1.15	%		1.17	%		1.19	%		1.18	%		1.14	%		1.18	%
ACL / EOP loans¹		1.21	%		1.22	%		1.24	%		1.26	%		1.24	%		1.21	%		1.24	%
Underperforming Assets:
Loans 90 days and over (still accruing)	$	6,832		$	4,407		$	2,691		$	1,525		$	16,893		$	6,832		$	16,893
Nonaccrual loans		461,702			511,959			521,245			590,820			594,709			461,702			594,709
Foreclosed assets		3,374			5,786			6,235			6,325			7,986			3,374			7,986
Total underperforming assets	$	471,908		$	522,152		$	530,171		$	598,670		$	619,588		$	471,908		$	619,588
Classified and Criticized Assets:
Nonaccrual loans	$	461,702		$	511,959		$	521,245		$	590,820		$	594,709		$	461,702		$	594,709
Substandard loans (still accruing)		1,918,721			1,881,374			1,759,221			1,881,294			1,969,260			1,918,721			1,969,260
Loans 90 days and over (still accruing)		6,832			4,407			2,691			1,525			16,893			6,832			16,893
Total classified loans - "problem loans"		2,387,255			2,397,740			2,283,157			2,473,639			2,580,862			2,387,255			2,580,862
Other classified assets		7,960			20,620			20,616			35,373			43,495			7,960			43,495
Special Mention		705,154			804,028			805,901			893,109			1,008,716			705,154			1,008,716
Total classified and criticized assets	$	3,100,369		$	3,222,388		$	3,109,674		$	3,402,121		$	3,633,073		$	3,100,369		$	3,633,073
Loans 30-89 days past due (still accruing)	$	140,428		$	114,038		$	105,632		$	83,030		$	128,771		$	140,428		$	128,771
Nonaccrual loans / EOP loans¹		0.91	%		1.03	%		1.07	%		1.23	%		1.24	%		0.91	%		1.24	%
ACL / nonaccrual loans		133	%		119	%		116	%		102	%		100	%		133	%		100	%
Under-performing assets/EOP loans¹		0.93	%		1.05	%		1.09	%		1.25	%		1.29	%		0.93	%		1.29	%
Under-performing assets/EOP assets		0.64	%		0.72	%		0.73	%		0.84	%		0.87	%		0.64	%		0.87	%
30+ day delinquencies/EOP loans¹		0.29	%		0.24	%		0.22	%		0.18	%		0.30	%		0.29	%		0.30	%

¹Excludes loans held-for-sale.


Non-GAAP Measures (unaudited)
($ and shares in thousands, except per share data)

	Three Months Ended															Six Months Ended
	June 30,			March 31,			December 31,			September 30,			June 30,			June 30,			June 30,
		2026			2026			2025			2025			2025			2026			2025
Earnings Per Share:
Net income applicable to common shares	$	249,381		$	229,638		$	212,589		$	178,533		$	121,375		$	479,019		$	262,000
Adjustments:
Pension plan loss (gain)		(13,240	)		—			15,878			—			(21,001	)		(13,240	)		(21,001	)
Tax effect¹		2,890			—			(3,814	)		—			5,778			2,890			5,778
Pension plan loss (gain), net		(10,350	)		—			12,064			—			(15,223	)		(10,350	)		(15,223	)
Merger-related charges		12,109			7,323			24,547			69,274			41,206			19,432			47,062
Tax effect¹		(792	)		(1,810	)		(5,896	)		(16,494	)		(11,337	)		(2,602	)		(12,426	)
Merger-related charges, net		11,317			5,513			18,651			52,780			29,869			16,830			34,636
Debt securities (gains) losses		34			(75	)		(73	)		(7	)		41			(41	)		117
Tax effect¹		(7	)		19			18			2			(11	)		11			(25	)
Debt securities (gains) losses, net		27			(56	)		(55	)		(5	)		30			(30	)		92
Distribution of excess pension assets		—			3,394			—			—			—			3,394			—
Tax effect¹		—			(839	)		—			—			—			(839	)		—
Distribution of excess pension assets, net		—			2,555			—			—			—			2,555			—
FDIC special assessment		—			—			(2,994	)		—			—			—			—
Tax effect¹		—			—			719			—			—			—			—
FDIC special assessment, net		—			—			(2,275	)		—			—			—			—
CECL Day 1 non-PCD provision expense		—			—			—			—			75,604			—			75,604
Tax effect¹		—			—			—			—			(20,802	)		—			(20,802	)
CECL Day 1 non-PCD provision expense, net		—			—			—			—			54,802			—			54,802
Total adjustments, net		994			8,012			28,385			52,775			69,478			9,005			74,307
Net income applicable to common shares, adjusted	$	250,375		$	237,650		$	240,974		$	231,308		$	190,853		$	488,024		$	336,307
Weighted average diluted common shares outstanding		383,273			388,054			389,550			390,496			361,436			385,697			340,250
EPS, diluted	$	0.65		$	0.59		$	0.55		$	0.46		$	0.34		$	1.24		$	0.77
Adjusted EPS, diluted	$	0.65		$	0.61		$	0.62		$	0.59		$	0.53		$	1.27		$	0.99
NIM:
Net interest income	$	578,988		$	572,573		$	580,832		$	574,609		$	514,790		$	1,151,561		$	902,433
Add: FTE adjustment²		7,510			7,849			8,013			7,975			7,063			15,359			12,423
Net interest income (FTE)	$	586,498		$	580,422		$	588,845		$	582,584		$	521,853		$	1,166,920		$	914,856
Average earning assets	$	66,341,949		$	65,433,548		$	64,456,815		$	64,032,811		$	59,061,249		$	65,890,258		$	53,599,627
NIM (GAAP)		3.49	%		3.50	%		3.60	%		3.59	%		3.49	%		3.50	%		3.37	%
NIM (FTE)		3.54	%		3.55	%		3.65	%		3.64	%		3.53	%		3.54	%		3.41	%

Refer to last page of Non-GAAP reconciliations for footnotes.


Non-GAAP Measures (unaudited)
($ in thousands)

	Three Months Ended															Six Months Ended
	June 30,			March 31,			December 31,			September 30,			June 30,			June 30,			June 30,
		2026			2026			2025			2025			2025			2026			2025
PPNR:
Net interest income (FTE)²	$	586,498		$	580,422		$	588,845		$	582,584		$	521,853		$	1,166,920		$	914,856
Add: Noninterest income		153,564			122,346			109,759			130,461			132,517			275,910			226,311
Total revenue (FTE)		740,062			702,768			698,604			713,045			654,370			1,442,830			1,141,167
Less: Noninterest expense		(372,161	)		(364,704	)		(386,320	)		(445,734	)		(384,766	)		(736,865	)		(653,237	)
PPNR	$	367,901		$	338,064		$	312,284		$	267,311		$	269,604		$	705,965		$	487,930
Adjustments:
Pension plan loss (gain)	$	(13,240	)	$	—		$	15,878		$	—		$	(21,001	)	$	(13,240	)	$	(21,001	)
Debt securities (gains) losses		34			(75	)		(73	)		(7	)		41			(41	)		117
Noninterest income adjustments		(13,206	)		(75	)		15,805			(7	)		(20,960	)		(13,281	)		(20,884	)
Adjusted noninterest income		140,358			122,271			125,564			130,454			111,557			262,629			205,427
Adjusted revenue	$	726,856		$	702,693		$	714,409		$	713,038		$	633,410		$	1,429,549		$	1,120,283
Adjustments:
Merger-related charges	$	12,109		$	7,323		$	24,547		$	69,274		$	41,206		$	19,432		$	47,062
FDIC Special Assessment		—			—			(2,994	)		—			—			—			—
Distribution of excess pension assets		—			3,394			—			—			—			3,394			—
Noninterest expense adjustments		12,109			10,717			21,553			69,274			41,206			22,826			47,062
Adjusted total noninterest expense		(360,052	)		(353,987	)		(364,767	)		(376,460	)		(343,560	)		(714,039	)		(606,175	)
Adjusted PPNR	$	366,804		$	348,706		$	349,642		$	336,578		$	289,850		$	715,510		$	514,108
Efficiency Ratio:
Noninterest expense	$	372,161		$	364,704		$	386,320		$	445,734		$	384,766		$	736,865		$	653,237
Less: Amortization of intangibles		(23,992	)		(25,623	)		(26,016	)		(26,184	)		(19,630	)		(49,615	)		(26,460	)
Noninterest expense, excl. amortization of intangibles		348,169			339,081			360,304			419,550			365,136			687,250			626,777
Less: Amortization of tax credit investments		(7,807	)		(7,111	)		(9,822	)		(7,057	)		(5,815	)		(14,918	)		(9,239	)
Less: Noninterest expense adjustments		(12,109	)		(10,717	)		(21,553	)		(69,274	)		(41,206	)		(22,826	)		(47,062	)
Adjusted noninterest expense, excluding amortization	$	328,253		$	321,253		$	328,929		$	343,219		$	318,115		$	649,506		$	570,476
Total revenue (FTE)²	$	740,062		$	702,768		$	698,604		$	713,045		$	654,370		$	1,442,830		$	1,141,167
Less: Debt securities (gains) losses		34			(75	)		(73	)		(7	)		41			(41	)		117
Less: Pension plan loss (gain)		(13,240	)		—			15,878			—			(21,001	)		(13,240	)		(21,001	)
Total adjusted revenue	$	726,856		$	702,693		$	714,409		$	713,038		$	633,410		$	1,429,549		$	1,120,283
Efficiency Ratio		47.0	%		48.3	%		51.6	%		58.8	%		55.8	%		47.6	%		54.9	%
Adjusted Efficiency Ratio		45.2	%		45.7	%		46.0	%		48.1	%		50.2	%		45.4	%		50.9	%

Refer to last page of Non-GAAP reconciliations for footnotes.


Non-GAAP Measures (unaudited)
($ in thousands)

	Three Months Ended															Six Months Ended
	June 30,			March 31,			December 31,			September 30,			June 30,			June 30,			June 30,
		2026			2026			2025			2025			2025			2026			2025
ROAE and ROATCE:
Net income applicable to common shares	$	249,381		$	229,638		$	212,589		$	178,533		$	121,375		$	479,019		$	262,000
Amortization of intangibles		23,992			25,623			26,016			26,184			19,630			49,615			26,460
Tax effect¹		(5,998	)		(6,406	)		(6,504	)		(6,546	)		(4,908	)		(12,404	)		(6,615	)
Amortization of intangibles, net		17,994			19,217			19,512			19,638			14,722			37,211			19,845
Net income applicable to common shares, excluding intangibles amortization		267,375			248,855			232,101			198,171			136,097			516,230			281,845
Total adjustments, net (see pg.12)		994			8,012			28,385			52,775			69,478			9,005			74,307
Adjusted net income applicable to common shares, excluding intangibles amortization	$	268,369		$	256,867		$	260,486		$	250,946		$	205,575		$	525,235		$	356,152
Average shareholders' equity	$	8,508,205		$	8,544,220		$	8,391,067		$	8,168,575		$	7,452,116		$	8,526,113		$	6,937,161
Less: Average preferred equity		(243,719	)		(243,719	)		(243,719	)		(243,719	)		(243,719	)		(243,719	)		(243,719	)
Average shareholders' common equity	$	8,264,486		$	8,300,501		$	8,147,348		$	7,924,856		$	7,208,397		$	8,282,394		$	6,693,442
Average goodwill and other intangible assets		(2,873,898	)		(2,894,824	)		(2,919,924	)		(2,931,319	)		(2,670,710	)		(2,884,304	)		(2,482,663	)
Average tangible shareholder's common equity	$	5,390,588		$	5,405,677		$	5,227,424		$	4,993,537		$	4,537,687		$	5,398,090		$	4,210,779
ROAE		12.1	%		11.1	%		10.4	%		9.0	%		6.7	%		11.6	%		7.8	%
ROAE, adjusted		12.1	%		11.5	%		11.8	%		11.7	%		10.6	%		11.8	%		10.0	%
ROATCE		19.8	%		18.4	%		17.8	%		15.9	%		12.0	%		19.1	%		13.4	%
ROATCE, adjusted		19.9	%		19.0	%		19.9	%		20.1	%		18.1	%		19.5	%		16.9	%

Refer to last page of Non-GAAP reconciliations for footnotes.


Non-GAAP Measures (unaudited)
($ in thousands)

	As of
	June 30,			March 31,			December 31,			September 30,			June 30,
		2026			2026			2025			2025			2025
Tangible Common Equity:
Shareholders' equity	$	8,583,843		$	8,510,653		$	8,494,788		$	8,309,271		$	8,126,387
Less: Preferred equity		(243,719	)		(243,719	)		(243,719	)		(243,719	)		(243,719	)
Shareholders' common equity	$	8,340,124		$	8,266,934		$	8,251,069		$	8,065,552		$	7,882,668
Less: Goodwill and other intangible assets		(2,862,427	)		(2,886,419	)		(2,907,986	)		(2,926,960	)		(2,944,372	)
Tangible shareholders' common equity	$	5,477,697		$	5,380,515		$	5,343,083		$	5,138,592		$	4,938,296

Total assets	$	74,189,417		$	73,002,651		$	72,151,967		$	71,210,162		$	70,979,805
Less: Goodwill and other intangible assets		(2,862,427	)		(2,886,419	)		(2,907,986	)		(2,926,960	)		(2,944,372	)
Tangible assets	$	71,326,990		$	70,116,232		$	69,243,981		$	68,283,202		$	68,035,433

Risk-weighted assets³	$	55,349,162		$	54,283,745		$	53,617,620		$	52,515,468		$	52,517,871

Tangible common equity to tangible assets		7.68	%		7.67	%		7.72	%		7.53	%		7.26	%
Tangible common equity to risk-weighted assets³		9.90	%		9.91	%		9.97	%		9.78	%		9.40	%
Tangible Common Book Value:
Common shares outstanding		382,537			386,315			389,662			390,768			391,818
Tangible common book value	$	14.32		$	13.93		$	13.71		$	13.15		$	12.60

¹Tax-effect calculations use management's estimate of the full year FTE tax rates (federal + state).
²Calculated using the federal statutory tax rate in effect of 21% for all periods.
³June 30, 2026 figures are preliminary.

Old National Bancorp Reports Record Second Quarter 2026 Results; Announces Enhanced Executive Leadership Structure