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0001025835FALSE150 N. Meramec AvenueSt. LouisMissouri6310500010258352026-07-202026-07-200001025835us-gaap:CommonStockMember2026-07-202026-07-200001025835efsc:DepositarySharesMember2026-07-202026-07-20

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) 
July 22, 2026 (July 20, 2026)
ENTERPRISE FINANCIAL SERVICES CORP
(Exact name of registrant as specified in its charter)
Delaware 
001-15373 
43-1706259 
(State or Other Jurisdiction
of Incorporation)		 (Commission
File Number)		 (IRS Employer
Identification No.)
150 N. Meramec Avenue, St. Louis, Missouri
(Address of principal executive offices)
63105
(Zip Code)

Registrant's telephone number, including area code
(314) 725-5500

Not applicable 
(Former name or former address, if changed since last report) 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
 ☐   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 ☐   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:
Title of each class Trading Symbol(s) Name of each exchange on which registered
Common Stock, par value $0.01 per share EFSC Nasdaq Global Select Market
Depositary Shares, Each Representing a 1/40th Interest in a Share of 5.00% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A EFSCP Nasdaq Global Select Market
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐

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



Item 2.02 Results of Operations and Financial Condition.

On July 22, 2026, Enterprise Financial Services Corp (the "Company" or "EFSC") issued a press release announcing financial information for the quarter ended June 30, 2026. A copy of the press release is furnished as Exhibit 99.1 and is incorporated herein by reference.

On July 23, 2026, at 10:00 a.m. Central time, the Company intends to hold a webcast to present information on its results of operations for the quarter ended June 30, 2026. The slide presentation which will accompany the webcast is furnished as Exhibit 99.2 and is incorporated herein by reference.

The press release, slide presentation and information contained therein and in this Item 2.02 shall not be deemed “filed” with the Securities and Exchange Commission.

Item 8.01 Other Events.

On July 20, 2026, the Company’s Board of Directors approved the repurchase of up to 2,000,000 additional shares of the Company’s common stock, which are in addition to the 249,400 shares available for repurchase under the Company’s stock repurchase plan announced in May 2022 for 2,000,000 shares of common stock (combined, the “Stock Repurchase Plan”). The additional amount approved for repurchase pursuant to the Stock Repurchase Plan represents approximately 5% of the Company’s issued and outstanding shares of common stock as of June 30, 2026.

The Stock Repurchase Plan permits shares to be purchased in open market or private transactions, through block trades, and pursuant to any trading plan that may be adopted in accordance with Rules 10b5-1 and 10b-18 of the Securities and Exchange Commission. The authorized Stock Repurchase Plan may be suspended, terminated or modified at any time for any reason, including market conditions, the cost of repurchasing shares, the availability of alternative investment opportunities, liquidity, and other factors deemed appropriate. These factors may also affect the timing and amount of stock repurchases. The Company is not obligated to purchase any particular number of shares under the Stock Repurchase Plan.

Item 9.01 Financial Statements and Exhibits.

(d)     Exhibits.

Exhibit Number Description
99.1
99.2
104 The cover page of this Current Report on Form 8-K, formatted in Inline XBRL.




SIGNATURES

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

ENTERPRISE FINANCIAL SERVICES CORP
Date: July 22, 2026 By: /s/ Troy R. Dumlao
Troy R. Dumlao
Executive Vice President and Chief Accounting Officer




EX-99.1 2 ex991financialstatementsan.htm EARNINGS RELEASE Document

EXHIBIT 99.1
enterprisefinancialservices.jpg
ENTERPRISE FINANCIAL SERVICES CORP REPORTS SECOND QUARTER 2026 RESULTS

Second Quarter Results
•Net income of $40.9 million, or $1.09 per diluted common share, compared to $1.30 for the linked quarter and $1.36 for the prior year quarter
•Net interest margin (“NIM”) of 4.30%, quarterly increase of two basis points
•Net interest income of $168.7 million, quarterly increase of $2.6 million
•Total loans of $11.9 billion, quarterly increase of $199.6 million
•Total deposits of $14.5 billion, quarterly decrease of $21.8 million
•Return on average assets (“ROAA”) of 0.95%, compared to 1.16% for the linked quarter and 1.30% for the prior year quarter
•Return on average tangible common equity (“ROATCE”)1 of 10.39%, compared to 12.53% for the linked quarter and 13.84% for the prior year quarter
•Tangible common equity to tangible assets1 of 9.04%, compared to 9.01% in the linked quarter and 9.42% in the prior year quarter
•Tangible book value per common share1 of $42.30, compared to $41.38 for the linked quarter and an increase of 6% from the prior year quarter
•Issued $175 million of 6.25% fixed-to-floating rate subordinated notes due in 2036. The notes are callable beginning in 2031 and are included in tier 2 capital
•Returned $22.9 million to stockholders through the repurchase of 382,083 shares and $12.3 million through common stock dividends
•Increased quarterly dividend $0.01 to $0.35 per common share for the third quarter 2026

St. Louis, MO. July 22, 2026 – Enterprise Financial Services Corp (Nasdaq: EFSC) (the “Company” or “EFSC”) today announced financial results for the second quarter of 2026. “Our strategic initiatives this quarter focused on driving sustainable profitability and capital efficiency. Through a targeted restructuring of our investment portfolio, we successfully enhanced our revenue profile and expanded margin. Simultaneously, we bolstered our regulatory capital base through the issuance of $175 million of subordinated debentures. While late-quarter challenges with two commercial credits led to higher charge-offs and provision expense, our core portfolio trends are relatively stable and our underwriting standards remain high,” said Jim Lally, President and Chief Executive Officer. “Looking toward the second half of 2026, we are committed to improving asset quality, securing disciplined loan and deposit growth and leveraging technology to boost operational efficiency.”

Comparisons to the prior year quarter are affected by the acquisition of 12 branches in Arizona and Kansas in the fourth quarter 2025 (the “Branch Acquisition”).

Highlights

•Earnings - Net income in the second quarter 2026 was $40.9 million, a decrease of $8.4 million and $10.5 million compared to the linked and prior year quarters, respectively. Earnings per diluted common share for the second quarter 2026 was $1.09, compared to $1.30 and $1.36 for the linked and prior year
1 ROATCE, tangible common equity to tangible assets, and tangible book value per common share are non-GAAP measures. Please refer to discussion and reconciliation of these measures in the accompanying financial tables.


quarters, respectively. Adjusted diluted earnings per share2 was $1.13 in the second quarter 2026, compared to $1.31 and $1.37 in the linked and prior year quarters, respectively.

•Pre-provision net revenue (“PPNR”)2 - PPNR of $68.2 million in the second quarter 2026 decreased $2.2 million from the linked quarter and increased $0.1 million from the prior year quarter. The decrease from the linked quarter was primarily due to a decrease in noninterest income.

•Net interest income and NIM - Net interest income of $168.7 million for the second quarter 2026 increased $2.6 million and $16.0 million from the linked and prior year quarters, respectively. Compared to the linked quarter, net interest income benefitted from higher loan and securities yields, as well as an additional day during the period. Compared to the prior year quarter, net interest income increased primarily due to higher average loan and investment balances, higher investment yields, and a decrease on rates paid on interest-bearing liabilities. NIM was 4.30% for the second quarter 2026, compared to 4.28% and 4.21% for the linked and prior year quarters, respectively. The total cost of deposits of 1.53% for the second quarter 2026 increased one basis point and decreased 29 basis points from the linked and prior year quarters, respectively.

•Noninterest income - Noninterest income of $13.5 million for the second quarter 2026 decreased $5.6 million and $7.1 million from the linked and prior year quarters, respectively. The decrease in noninterest income from the linked and prior year quarters was primarily due to a net loss on sales of investment securities and a decrease in tax credit income. During the quarter, the Company executed balance sheet transactions to optimize future earnings. This included the sale of approximately $179 million of securities with a tax-equivalent yield of 3.13% and the reinvestment of the proceeds into new securities with a tax-equivalent yield of 5.20%. The Company also sold Visa Class B-1 common stock along with a parcel of land. A net loss of $1.5 million was recognized on these transactions. Tax credit income declined due to an increase in interest rates that negatively impacted the value of projects carried at fair value.

•Noninterest expense - Noninterest expense of $115.7 million for the second quarter 2026 increased $0.6 million and $10.0 million from the linked and prior year quarters, respectively. The increase from the prior year quarter was primarily driven by higher employee compensation cost, variable deposit costs and loan and legal expenses related to loan workouts and other real estate owned (“OREO”).

•Loans - Loans totaled $11.9 billion at June 30, 2026, an increase of $199.6 million and $483.6 million from the linked and prior year quarters, respectively. Average loans totaled $11.8 billion for the current and linked quarters, respectively, and $11.4 billion for the prior year quarter.

•Asset quality - The allowance for credit losses to total loans was 1.17% at June 30, 2026, compared to 1.21% at March 31, 2026 and 1.27% at June 30, 2025. The provision for credit losses in the second quarter 2026 was $14.2 million, compared to $7.2 million and $3.5 million for the linked and prior year quarters, respectively. The ratio of nonperforming assets to total assets was 0.92% at June 30, 2026, compared to 0.87% and 0.71% at March 31, 2026 and June 30, 2025, respectively.

•Deposits - Deposits totaled $14.5 billion at June 30, 2026, a decrease of $21.8 million and an increase of $1.2 billion from the linked and prior year quarters, respectively. Average deposits were $14.6 billion for the current and linked quarters, respectively, and $13.2 billion for the prior year quarter. At June 30, 2026, noninterest-bearing deposit accounts totaled $4.9 billion, or 34% of total deposits, and the loan to deposit ratio was 82%.

2 Adjusted diluted earnings per share and PPNR are non-GAAP measures. Please refer to discussion and reconciliation of these measures in the accompanying financial tables.

2

•Subordinated notes - In the second quarter 2026, the Company issued $175.0 million of 6.25% fixed-to-floating rate subordinated notes due in 2036 for general corporate purposes and to bolster capital. The notes are callable starting in July 2031 and are included in tier 2 capital.

•Capital - Total stockholders’ equity was $2.0 billion and the tangible common equity to tangible assets ratio3 was 9.04% at June 30, 2026, compared to 9.01% at March 31, 2026. Enterprise Bank & Trust remains “well-capitalized,” with a common equity tier 1 ratio of 12.1% and a total risk-based capital ratio of 13.1% at June 30, 2026. The Company’s common equity tier 1 ratio and total risk-based capital ratio were 11.5% and 15.0%, respectively, at June 30, 2026.

The Company’s Board of Directors (the “Board”) approved a quarterly dividend of $0.35 per common share, payable on September 30, 2026 to stockholders of record as of September 15, 2026. The Board also declared a cash dividend of $12.50 per share of Series A Preferred Stock (or $0.3125 per depositary share) representing a 5% per annum rate for the period commencing (and including) June 15, 2026 to (but excluding) September 15, 2026. The dividend will be payable on September 15, 2026 to stockholders of record of Series A Preferred Stock as of August 31, 2026.
3 Tangible common equity to tangible assets ratio is a non-GAAP measure. Please refer to discussion and reconciliation of this measure in the accompanying financial tables.

3

Net Interest Income and NIM
Average Balance Sheets
The following table presents, for the periods indicated, certain information related to the average interest-earning assets and interest-bearing liabilities, as well as the corresponding average interest rates earned and paid, all on a tax-equivalent basis.
Quarter ended
June 30, 2026 March 31, 2026 June 30, 2025
($ in thousands) Average
Balance		 Interest
Income/
Expense		 Average Yield/ Rate Average
Balance		 Interest
Income/
Expense		 Average Yield/ Rate Average
Balance		 Interest
Income/
Expense		 Average Yield/ Rate
Assets
Interest-earning assets:
Loans1, 2
$ 11,775,879  $ 188,819  6.43  % $ 11,777,727  $ 185,380  6.38  % $ 11,358,209  $ 188,007  6.64  %
Taxable securities 2,539,301  27,898  4.41  2,481,169  26,108  4.27  1,971,025  19,940  4.06 
Non-taxable securities2
1,294,693  12,317  3.82  1,301,675  12,390  3.86  1,177,985  10,390  3.54 
Total securities 3,833,994  40,215  4.21  3,782,844  38,498  4.13  3,149,010  30,330  3.86 
Interest-earning deposits 431,044  3,697  3.44  504,541  4,533  3.64  315,738  3,368  4.28 
Total interest-earning assets 16,040,917  232,731  5.82  16,065,112  228,411  5.77  14,822,957  221,705  6.00 
Noninterest-earning assets 1,266,799  1,245,991  1,036,764 
Total assets $ 17,307,716  $ 17,311,103  $ 15,859,721 
Liabilities and Stockholders’ Equity
Interest-bearing liabilities:
Interest-bearing demand accounts $ 3,438,895  $ 15,149  1.77  % $ 3,453,650  $ 14,940  1.75  % $ 3,225,611  $ 17,152  2.13  %
Money market accounts 4,009,504  25,788  2.58  3,952,475  25,198  2.59  3,660,053  28,437  3.12 
Savings accounts 546,880  164  0.12  538,597  152  0.11  532,754  183  0.14 
Certificates of deposit 1,698,565  14,569  3.44  1,665,977  14,459  3.52  1,486,522  14,207  3.83 
Total interest-bearing deposits 9,693,844  55,670  2.30  9,610,699  54,749  2.31  8,904,940  59,979  2.70 
Subordinated debentures and notes 120,277  2,061  6.87  93,725  1,522  6.59  156,753  2,737  7.00 
FHLB advances 88,011  861  3.92  5,756  56  3.95  156,868  1,801  4.61 
Securities sold under agreements to repurchase 200,060  1,162  2.33  270,057  1,614  2.42  209,493  1,592  3.05 
Other borrowings 84,609  843  4.00  94,910  1,003  4.29  36,208  96  1.06 
Total interest-bearing liabilities 10,186,801  60,597  2.39  10,075,147  58,944  2.37  9,464,262  66,205  2.81 
Noninterest-bearing liabilities:
Demand deposits 4,914,670  4,998,734  4,340,301 
Other liabilities 154,012  160,718  149,069 
Total liabilities 15,255,483  15,234,599  13,953,632 
Stockholders' equity 2,052,233  2,076,504  1,906,089 
Total liabilities and stockholders' equity $ 17,307,716  $ 17,311,103  $ 15,859,721 
Total net interest income $ 172,134  $ 169,467  $ 155,500 
Net interest margin 4.30  % 4.28  % 4.21  %
1 Average balances include nonaccrual loans. Interest income includes net loan fees of $1.5 million, $1.4 million, and $1.8 million for each of the three months ended June 30, 2026, March 31, 2026, and June 30, 2025, respectively.
2 Non-taxable income is presented on a fully tax-equivalent basis using a tax rate of approximately 25%. The tax-equivalent adjustments were $3.4 million, $3.3 million, and $2.7 million for each of the three months ended June 30, 2026, March 31, 2026, and June 30, 2025, respectively.



4

Net interest income of $168.7 million for the second quarter 2026 increased $2.6 million and $16.0 million from the linked and prior year quarters, respectively. Net interest income on a tax-equivalent basis was $172.1 million, $169.5 million and $155.5 million for the current, linked and prior year quarters, respectively. The increase from the linked quarter reflects higher loan and securities yields, and the current quarter benefitted by one additional day compared to the linked quarter. These increases were partially offset by an increase in the average balance of interest-bearing liabilities. Compared to the prior year quarter, the increase in net interest income was primarily due to growth in the average balance of interest-earning assets and lower rates paid on interest-bearing liabilities, specifically securities under agreements to repurchase and money market accounts.

During the current quarter, the Company issued $175.0 million aggregate principal amount of 6.25% fixed-to-floating rate subordinated notes with a maturity date of July 1, 2036, which initially bear an annual interest rate of 6.25%, with interest payable semiannually. Beginning July 1, 2031, the interest rate resets quarterly to the three-month term SOFR rate plus a spread of 232.0 basis points, payable quarterly. The Company also sold approximately $179 million of investment securities with a tax-equivalent yield of 3.13% and reinvested the proceeds into new securities with a tax-equivalent yield of 5.20%. This transaction improved the overall tax-equivalent yield on securities by 10 basis points and will increase net interest income by $3.5 million annually.

Interest income for the second quarter 2026 increased $4.2 million and $10.3 million from the linked and prior year quarters, respectively. The increase from the linked quarter was primarily due to a five and eight basis point increase in loans and securities yields, respectively, as well as a $51.2 million increase in average investment securities balances and one additional day during the period. Compared to the prior year quarter, the increase in interest income was primarily due to an increase of $417.7 million and $685.0 million in average loan and investment securities balances, respectively. The average interest rate of new loan originations in the second quarter 2026 was 6.58%, and investment purchases in the second quarter 2026 had a weighted average, tax-equivalent yield of 5.03%.

Interest expense in the second quarter 2026 increased $1.7 million and decreased $5.6 million from the linked and prior year quarters, respectively. Compared to the linked quarter, the increase was primarily due to higher average subordinated debt and other borrowed funds balances. Compared to the prior year quarter, the decrease was primarily due to decreased interest paid on interest-bearing liabilities. The rate paid on interest-bearing liabilities was 2.39% during the second quarter 2026, compared to 2.81% in the prior year quarter.

NIM, on a tax-equivalent basis, was 4.30% in the second quarter 2026, an increase of two basis points and nine basis points from the linked and prior year quarters, respectively. For the month of June 2026, the loan portfolio yield was 6.50% and the cost of total deposits was 1.52%.

Investments

At
June 30, 2026 March 31, 2026 June 30, 2025
($ in thousands) Carrying Value Net Unrealized Loss Carrying Value Net Unrealized Loss Carrying Value Net Unrealized Loss
Available-for-sale (AFS) $ 2,795,725  $ (101,080) $ 2,773,667  $ (116,745) $ 2,204,511  $ (131,094)
Held-to-maturity (HTM) 1,036,477  (38,163) 1,055,495  (52,176) 1,091,238  (75,144)
Total $ 3,832,202  $ (139,243) $ 3,829,162  $ (168,921) $ 3,295,749  $ (206,238)
Investment securities totaled $3.8 billion at June 30, 2026, an increase of $3.0 million from the linked quarter. The tangible common equity to tangible assets ratio adjusted for unrealized losses on HTM securities4 was 8.87% at June 30, 2026, compared to 8.78% at March 31, 2026.

4 The tangible common equity to tangible assets ratio adjusted for unrealized losses on held-to-maturity securities is a non-GAAP measure. Refer to discussion and reconciliation of this measure in the accompanying financial tables.


5

Loans
The following table presents total loans for the most recent five quarters:
At
($ in thousands) June 30,
2026		 March 31,
2026		 December 31,
2025		 September 30,
2025		 June 30,
2025
C&I $ 2,628,065  $ 2,655,273  $ 2,606,472  $ 2,320,868  $ 2,316,609 
CRE investor owned 2,902,890  2,763,227  2,786,139  2,626,657  2,547,859 
CRE owner occupied 1,421,859  1,452,350  1,404,704  1,296,902  1,281,572 
SBA loans* 1,237,294  1,230,455  1,262,456  1,257,817  1,249,225 
Sponsor finance* 708,449  661,946  694,905  774,142  771,280 
Life insurance premium financing* 1,250,250  1,208,098  1,187,128  1,151,700  1,155,623 
Tax credits* 725,452  702,080  802,818  780,767  708,401 
Residential real estate 356,342  340,966  362,278  359,315  356,722 
Construction and land development 608,923  621,988  633,803  784,218  773,122 
Consumer** 52,875  56,397  59,635  230,723  248,427 
Total loans $ 11,892,399  $ 11,692,780  $ 11,800,338  $ 11,583,109  $ 11,408,840 
Quarterly loan yield 6.43  % 6.38  % 6.51  % 6.64  % 6.64  %
Loans by rate type (to total loans):
Fixed 37  % 37  % 40  % 41  % 40  %
Variable: 63  % 63  % 60  % 59  % 60  %
SOFR 32  % 32  % 30  % 29  % 29  %
Prime 24  % 24  % 23  % 23  % 24  %
Other 7  % 7  % 7  % 7  % 7  %
Variable rate loans to total loans, adjusted for interest rate hedges 58  % 59  % 56  % 55  % 56  %
*Specialty loan category
**Certain loans were reclassified from Consumer and into other categories in the fourth quarter of 2025. Prior period amounts were not adjusted.
Loans totaled $11.9 billion at June 30, 2026, an increase of $199.6 million compared to the linked quarter. The increase was primarily driven by the $118.9 million increase in specialty lending categories and $109.2 million increase in commercial real estate loans. Loan production outpaced repayment activity in the quarter with loan volume of $1.0 billion compared to repayment activity of $814.2 million. Loan volume was strongest in the C&I and CRE portfolios in the current quarter. Average line utilization was approximately 47% for the current quarter, compared to 45% and 46% for the linked and prior year quarters, respectively.



6

Asset Quality
The following table presents the categories of nonperforming assets and related ratios for the most recent five quarters:
At
($ in thousands) June 30,
2026		 March 31,
2026		 December 31,
2025		 September 30,
2025		 June 30,
2025
Nonperforming loans* $ 76,144  $ 64,941  $ 82,809  $ 127,878  $ 105,807 
Other1
84,259  84,482  81,544  7,821  8,221 
Nonperforming assets* $ 160,403  $ 149,423  $ 164,353  $ 135,699  $ 114,028 
Nonperforming loans to total loans 0.64  % 0.56  % 0.70  % 1.10  % 0.93  %
Nonperforming assets to total assets 0.92  % 0.87  % 0.95  % 0.83  % 0.71  %
Allowance for credit losses $ 139,238  $ 142,064  $ 140,022  $ 148,854  $ 145,133 
Allowance for credit losses to total loans 1.17  % 1.21  % 1.19  % 1.29  % 1.27  %
Allowance for credit losses to nonperforming loans* 182.9  % 218.8  % 169.1  % 116.4  % 137.2  %
Quarterly net charge-offs
 $ 13,555  $ 4,407  $ 20,674  $ 4,057  $ 630 
*Guaranteed balances excluded $ 40,698  $ 28,243  $ 28,903  $ 33,475  $ 26,536 
1OREO and repossessed assets transferred at fair value, and carried at the lesser of cost or market value.

The following table presents a summary of nonperforming assets by loan category as of June 30, 2026:
($ in thousands) Nonperforming Loans Government Guaranteed Nonperforming Loans, net ACL Reserve Allocation
C&I $ 21,619  $ (1,538) $ 20,081  $ (11,785)
CRE investor owned 50,872  (8,771) 42,101  (91)
CRE owner occupied 37,567  (28,391) 9,176  (395)
SBA (included in CRE owner occupied) 35,956  (28,391) 7,565  (376)
Other 6,784  (1,998) 4,786  (287)
Total $ 116,842  $ (40,698) $ 76,144  $ (12,558)
Other1
84,259 
Nonperforming assets $ 160,403 
1OREO and repossessed assets transferred at fair value, and carried at the lesser of cost or market value.

Nonperforming assets increased $11.0 million and $46.4 million from the linked and prior year quarters, respectively. The increase in nonperforming assets compared to the linked quarter is primarily due to a $16.0 million CRE relationship and a $5.8 million C&I relationship that went on nonaccrual, partially offset by a $4.2 million C&I relationship that became current during the period.

The provision for credit losses totaled $14.2 million in the second quarter 2026, compared to $7.2 million and $3.5 million in the linked and prior year quarters, respectively. The second quarter 2026 provision for credit losses was driven mainly by $13.6 million in net charge-offs. Most of these losses came from two accounts: an $8.3 million C&I relationship in Texas and a $5.2 million Sponsor Finance relationship. Annualized net charge-offs totaled 46 basis points of average loans in the current quarter, compared to 15 basis points in the linked quarter and two basis points of average loans in the prior year quarter.



7

Deposits
The following table presents deposits broken out by type for the most recent five quarters:
At
($ in thousands) June 30,
2026		 March 31,
2026		 December 31,
2025		 September 30,
2025		 June 30,
2025
Noninterest-bearing demand accounts $ 4,910,235  $ 4,828,375  $ 4,874,115  $ 4,386,513  $ 4,322,332 
Interest-bearing demand accounts 3,406,505  3,395,680  3,537,334  3,301,621  3,184,670 
Money market and savings accounts 4,482,011  4,610,662  4,528,510  4,228,605  4,209,032 
Brokered certificates of deposit 736,377  724,788  721,977  762,499  752,422 
Other certificates of deposit 967,423  964,892  947,406  888,674  848,903 
Total deposit portfolio $ 14,502,551  $ 14,524,397  $ 14,609,342  $ 13,567,912  $ 13,317,359 
Noninterest-bearing deposits to total deposits 33.9  % 33.2  % 33.4  % 32.3  % 32.5  %
Quarterly cost of deposits 1.53  % 1.52  % 1.64  % 1.80  % 1.82  %
Total deposits at June 30, 2026 were $14.5 billion, a decrease of $21.8 million and an increase of $1.2 billion from the linked and prior year quarters, respectively. Average deposits for the three months ended June 30, 2026 and March 31, 2026 were $14.6 billion, compared to $13.2 billion for the three months ended June 30, 2025. Reciprocal deposits, which are placed through third party programs to provide FDIC insurance on larger deposit relationships, totaled $1.2 billion and $1.3 billion at June 30, 2026 and March 31, 2026, respectively.

Noninterest Income
The following table presents a comparative summary of the major components of noninterest income for the periods indicated:
Linked quarter comparison Prior year comparison
Quarter ended Quarter ended
($ in thousands) June 30,
2026		 March 31,
2026		 Increase (decrease) June 30,
2025		 Increase (decrease)
Deposit service charges $ 5,477  $ 5,256  $ 221  4  % $ 4,940  $ 537  11  %
Wealth management revenue 2,804  2,712  92  3  % 2,584  220  9  %
Card services revenue 2,545  2,535  10  —  % 2,444  101  4  %
Tax credit income (loss)
 (1,733) (179) (1,554) (868) % 2,207  (3,940) (179) %
Other income 4,385  8,764  (4,379) (50) % 8,429  (4,044) (48) %
Total noninterest income $ 13,478  $ 19,088  $ (5,610) (29) % $ 20,604  $ (7,126) (35) %

Total noninterest income was $13.5 million for the second quarter 2026, a decrease of $5.6 million and $7.1 million from the linked and prior year quarters, respectively. The decrease from the linked and prior year quarters was primarily due to lower tax credit income and other income, which is discussed further below. Tax credit income is typically highest in the fourth quarter of each year and will vary in other periods based on transaction volumes and fair value changes. Changes in the interest rate environment had a negative impact on tax credit projects carried at fair value.



8

The following table presents a comparative summary of the major components of other income for the periods indicated:
Linked quarter comparison Prior year comparison
Quarter ended Quarter ended
($ in thousands) June 30,
2026		 March 31,
2026		 Increase (decrease) June 30,
2025		 Increase (decrease)
BOLI $ 2,427  $ 2,533  $ (106) (4) % $ 2,561  $ (134) (5) %
Community development investments 404  1,067  (663) (62) % 1,426  (1,022) (72) %
Gain on SBA loan sales —  1,414  (1,414) (100) % 1,153  (1,153) (100) %
Gain on sales of fixed assets 687  —  687  100  % —  687  100  %
Net gain (loss) on OREO
 (302) (295) (7) 2  % 56  (358) (639) %
Net loss on sales of investment securities (2,146) —  (2,146) (100) % —  (2,146) (100) %
Private equity fund distributions 283  1,837  (1,554) (85) % 502  (219) (44) %
Servicing fees 540  448  92  21  % 485  55  11  %
Swap fees 131  97  34  35  % 86  45  52  %
Miscellaneous income 2,361  1,663  698  42  % 2,160  201  9  %
Total other income $ 4,385  $ 8,764  $ (4,379) (50) % $ 8,429  $ (4,044) (48) %

The decrease in other income from the linked and prior year quarters was primarily due to a $2.1 million net loss on sales of investment securities in the current quarter and a gain on the sale of guaranteed SBA loans during the linked and prior year quarters that did not reoccur, partially offset by a $0.7 million gain on sales of fixed assets. During the period, the Company sold investment securities with a tax-equivalent yield of 3.13% and reinvested the proceeds into securities with a tax-equivalent yield of approximately 5.20%. A pre-tax loss of approximately $6 million on the sale of these securities was partially offset by a pre-tax gain of approximately $4 million from the sale of Visa Class B-1 common stock.

Noninterest Expense
The following table presents a comparative summary of the major components of noninterest expense for the periods indicated:
Linked quarter comparison Prior year comparison
Quarter ended Quarter ended
($ in thousands) June 30,
2026		 March 31,
2026		 Increase (decrease) June 30,
2025		 Increase (decrease)
Employee compensation and benefits $ 53,114  $ 55,759  $ (2,645) (5) % $ 50,164  $ 2,950  6  %
Deposit costs 27,832  25,996  1,836  7  % 24,765  3,067  12  %
Occupancy 5,909  5,902  7  —  % 5,065  844  17  %
Acquisition costs —  —  —  —  % 518  (518) (100) %
Other expense 28,884  27,480  1,404  5  % 25,190  3,694  15  %
Total noninterest expense $ 115,739  $ 115,137  $ 602  1  % $ 105,702  $ 10,037  9  %
Noninterest expense increased $0.6 million and $10.0 million from the linked and prior year quarters, respectively. Deposit costs relate to certain businesses in the deposit verticals that receive an earnings credit allowance for deposit-related services provided to us. These earnings credit allowances are impacted by, among other things, interest rates and average balances. Deposit costs increased $1.8 million from the linked quarter primarily due to the expiration of certain unused allowances that reduced expense in the first quarter. Employee compensation and benefits decreased $2.6 million from the linked quarter primarily due to employer payroll taxes that are seasonally higher in the first quarter each year.

9

The increase in noninterest expense from the prior year quarter was primarily due to an increase in the associate base as a result of the Branch Acquisition, merit increases throughout 2025 and 2026, an increase of $3.1 million in deposit costs due to higher earnings credit allowances and deposit vertical average balances, and an increase of $0.6 million in loan and legal expenses due to loan workouts and the foreclosure of certain properties. For the second quarter 2026, the core efficiency ratio5 was 61.1%, compared to 60.2% for the linked quarter and 59.3% for the prior year quarter.

Income Taxes
The effective tax rate for the current quarter was 21.7%, compared to 21.5% and 20.0% in the linked and prior year quarters, respectively. The increase in the effective tax rate from the prior year quarter was due to an increase in state taxes from apportionment factors and a decrease in tax credit investments.

Capital
The following table presents total equity and various capital ratios for the most recent five quarters:
At
($ in thousands) June 30, 2026* March 31,
2026		 December 31, 2025 September 30, 2025 June 30,
2025
Stockholders’ equity $ 2,040,846  $ 2,022,204  $ 2,039,386  $ 1,982,332  $ 1,922,899 
Total risk-based capital to risk-weighted assets 15.0  % 13.9  % 13.9  % 14.4  % 14.7  %
Tier 1 capital to risk weighted assets 12.7  % 12.9  % 12.8  % 13.3  % 13.2  %
Common equity tier 1 capital to risk-weighted assets 11.5  % 11.7  % 11.6  % 12.0  % 11.9  %
Leverage ratio 10.4  % 10.4  % 10.5  % 11.1  % 11.1  %
Tangible common equity to tangible assets5
9.04  % 9.01  % 9.07  % 9.60  % 9.42  %
                
*Capital ratios for the current quarter are preliminary and subject to, among other things, completion and filing of the Company’s regulatory reports and ongoing regulatory review.

Total equity was $2.0 billion at June 30, 2026, an increase of $18.6 million and $117.9 million from the linked and prior year quarters, respectively. Tangible book value per common share5 was $42.30 at June 30, 2026, compared to $41.38 and $40.02 at March 31, 2026 and June 30, 2025, respectively. The Company repurchased 382,083 shares at an average price of $59.93 in the second quarter 2026, and has 249,400 shares remaining in the current plan that was previously approved in May 2022. On July 20, 2026, the Company’s Board of Directors approved adding an additional 2,000,000 shares to the Company’s stock repurchase plan.

The issuance of subordinated debt during the current quarter enhanced total risk-based capital. The Company’s regulatory capital ratios continue to exceed the “well-capitalized” regulatory benchmark. Capital ratios for the current quarter are subject to, among other things, completion and filing of the Company’s regulatory reports and ongoing regulatory review.

5 Core efficiency ratio, tangible common equity to tangible assets, and tangible book value per common share are non-GAAP measures. Refer to discussion and reconciliation of these measures in the accompanying financial tables.


10

Use of Non-GAAP Financial Measures
The Company’s accounting and reporting policies conform to generally accepted accounting principles in the United States (“GAAP”) and the prevailing practices in the banking industry. However, the Company provides other financial measures, such as tangible common equity, PPNR, ROATCE, adjusted ROATCE, core efficiency ratio, tangible common equity to tangible assets ratio, tangible common equity to tangible assets ratio adjusted for unrealized losses on held-to-maturity securities, tangible book value per common share, return on average common equity, adjusted return on average common equity, allowance for credit losses to total loans excluding guaranteed loans, adjusted ROAA, and adjusted diluted earnings per share, in this release that are considered “non-GAAP financial measures.” Generally, a non-GAAP financial measure is a numerical measure of a company’s financial performance, financial position, or cash flows that exclude (or include) amounts that are included in (or excluded from) the most directly comparable measure calculated and presented in accordance with GAAP.

The Company considers its tangible common equity, PPNR, ROATCE, adjusted ROATCE, core efficiency ratio, tangible common equity to tangible assets ratio, tangible common equity to tangible assets ratio adjusted for unrealized losses on held-to-maturity securities, tangible book value per common share, return on average common equity, adjusted return on average common equity, allowance for credit losses to total loans excluding guaranteed loans, adjusted ROAA and adjusted diluted earnings per share, collectively “core performance measures,” presented in this earnings release and the included tables as important measures of financial performance, even though they are non-GAAP measures, as they provide supplemental information by which to evaluate the impact of certain non-comparable items, and the Company’s operating performance on an ongoing basis. Core performance measures exclude certain other income and expense items, such as the FDIC special assessment, acquisition costs, accrued insurance proceeds anticipated to be received as a result of recaptured tax credits, the net gain or loss on sales of fixed assets, the net gain or loss on OREO and the net gain or loss on sales of investment securities, that the Company believes to be not indicative of or useful to measure the Company’s operating performance on an ongoing basis. The attached tables contain a reconciliation of these core performance measures to the GAAP measures. The Company believes that the tangible common equity to tangible assets ratio provides useful information to investors about the Company’s capital strength even though it is considered to be a non-GAAP financial measure and is not part of the regulatory capital requirements to which the Company is subject.

The Company believes these non-GAAP measures and ratios, when taken together with the corresponding GAAP measures and ratios, provide meaningful supplemental information regarding the Company’s performance and capital strength. The Company’s management uses, and believes that investors benefit from referring to, these non-GAAP measures and ratios in assessing the Company’s operating results and related trends and when forecasting future periods. However, these non-GAAP measures and ratios should be considered in addition to, and not as a substitute for or preferable to, ratios prepared in accordance with GAAP. In the attached tables, the Company has provided a reconciliation of, where applicable, the most comparable GAAP financial measures and ratios to the non-GAAP financial measures and ratios, or a reconciliation of the non-GAAP calculation of the financial measures for the periods indicated.

Conference Call and Webcast Information
The Company will host a conference call and webcast at 10:00 a.m. Central Time on Thursday, July 23, 2026. During the call, management will review the second quarter 2026 results and related matters. This press release as well as a related slide presentation will be accessible via the “Investor Relations” page of the Company’s website, https://investor.enterprisebank.com/events-and-presentations, prior to the scheduled broadcast of the conference call. The call can be accessed via this same website page, or via telephone at 1-833-461-5787. After connecting, you may say the name of the conference or enter the Conference ID 122714948. We encourage participants to pre-register for the conference call using the following link: https://bit.ly/EFSC2Q2026EarningsCallRegistration. Callers who pre-register will be given a conference passcode and unique PIN to gain immediate access to the call and bypass the live operator. Participants may pre-register at any time, including up to and after the call start time. A recorded replay of the conference call will be available on the website after the call’s completion. The replay will be available for at least two weeks following the conference call.
11

About Enterprise Financial Services Corp
Enterprise Financial Services Corp (Nasdaq: EFSC), with approximately $17.4 billion in assets, is a financial holding company headquartered in Clayton, Missouri. Enterprise Bank & Trust, a Missouri state-chartered trust company with banking powers and a wholly-owned subsidiary of EFSC, operates branch offices in Arizona, California, Florida, Kansas, Missouri, Nevada, and New Mexico, and SBA loan and deposit production offices throughout the country. Enterprise Bank & Trust offers a range of business and personal banking services and wealth management services. Enterprise Trust, a division of Enterprise Bank & Trust, provides financial planning, estate planning, investment management and trust services to businesses, individuals, institutions, retirement plans and non-profit organizations. Additional information is available at www.enterprisebank.com.

Enterprise Financial Services Corp’s common stock is traded on the Nasdaq Global Select Market under the symbol “EFSC.” Please visit our website at www.enterprisebank.com to see our regularly posted material information.

Forward-looking Statements
Readers should note that, in addition to the historical information contained herein, this press release contains “forward-looking statements” within the meaning of, and intended to be covered by, the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on management’s current expectations and beliefs concerning future developments and their potential effects on the Company including, without limitation, plans, strategies and goals, and statements about the Company’s expectations regarding revenue and asset growth, financial performance and profitability, loan and deposit growth, liquidity, yields and returns, loan diversification and credit management, stockholder value creation and the impact of acquisitions.

Forward-looking statements are typically identified by words such as “believe,” “expect,” “anticipate,” “intend,” “outlook,” “estimate,” “forecast,” “project,” “pro forma”, “pipeline” and other similar words and expressions. Forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time. Forward-looking statements speak only as of the date they are made. Because forward-looking statements are subject to assumptions and uncertainties, actual results or future events could differ, possibly materially, from those anticipated in the forward-looking statements and future results could differ materially from historical performance. They are neither statements of historical fact nor guarantees or assurances of future performance. While there is no assurance that any list of risks and uncertainties or risk factors is complete, important factors that could cause actual results to differ materially from those in the forward-looking statements include the following, without limitation: the Company’s ability to efficiently integrate acquisitions into its operations, retain the customers of these businesses and grow the acquired operations, the Company’s ability to collect insurance proceeds from claims made related to tax recapture events, credit risk, changes in the appraised valuation of real estate securing impaired loans, outcomes of litigation and other contingencies, exposure to general and local economic and market conditions, high unemployment rates, higher inflation and its impacts (including U.S. federal government measures to address higher inflation), impacts of trade and tariff policies, U.S. fiscal debt, budget and tax matters (including the effect of a prolonged U.S. federal government shutdown), and any slowdown in global economic growth, risks associated with rapid increases or decreases in prevailing interest rates, our ability to attract and retain deposits and access to other sources of liquidity, changes in business prospects that could impact goodwill estimates and assumptions, consolidation in the banking industry, competition from banks and other financial institutions, the Company’s ability to attract and retain relationship officers and other key personnel, burdens imposed by federal and state regulation, changes in legislative or regulatory requirements, as well as current, pending or future legislation or regulation that could have a negative effect on our revenue and businesses, including rules and regulations relating to bank products and financial services, changes in accounting policies and practices or accounting standards, natural disasters (including wildfires and earthquakes), terrorist activities, war and geopolitical matters (including in Israel, Iran and Ukraine and the imposition of additional sanctions and export controls in connection therewith), or pandemics, or other health emergencies and their effects on economic and business environments in which we operate, including the related disruption to the financial market and other economic activity, and those factors and risks referenced from time to time in the Company’s filings with the Securities and Exchange Commission (the “SEC”), including in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025,
12

and the Company’s other filings with the SEC. The Company cautions that the preceding list is not exhaustive of all possible risk factors and other factors could also adversely affect the Company’s results.

For any forward-looking statements made in this press release or in any documents, EFSC claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.

Readers are cautioned not to place undue reliance on any forward-looking statements. Except to the extent required by applicable law or regulation, EFSC disclaims any obligation to revise or publicly release any revision or update to any of the forward-looking statements included herein to reflect events or circumstances that occur after the date on which such statements were made.

For more information contact:

Investor Relations
Keene Turner, Senior Executive Vice President, CFO and COO (314) 512-7233
Dakota Danescu, Senior Investor Relations Analyst (314) 810-3623

Media
Steve Richardson, Senior Vice President, Corporate Communications (314) 995-5695
13

ENTERPRISE FINANCIAL SERVICES CORP
CONSOLIDATED FINANCIAL SUMMARY (unaudited)
Quarter ended Six months ended
(in thousands, except per share data) Jun 30,
2026		 Mar 31,
2026		 Dec 31,
2025		 Sep 30,
2025		 Jun 30,
2025		 Jun 30,
2026		 Jun 30,
2025
EARNINGS SUMMARY
Net interest income $ 168,716  $ 166,147  $ 168,174  $ 158,286  $ 152,762  $ 334,863  $ 300,278 
Provision for credit losses 14,210  7,243  9,236  8,447  3,470  21,453  8,654 
Noninterest income 13,478  19,088  25,412  48,624  20,604  32,566  39,087 
Noninterest expense 115,739  115,137  114,532  109,790  105,702  230,876  205,485 
Income before income tax expense 52,245  62,855  69,818  88,673  64,194  115,100  125,226 
Income tax expense 11,318  13,493  15,024  43,438  12,810  24,811  23,881 
Net income 40,927  49,362  54,794  45,235  51,384  90,289  101,345 
Preferred stock dividends 937  938  937  938  937  1,875  1,875 
Net income available to common stockholders $ 39,990  $ 48,424  $ 53,857  $ 44,297  $ 50,447  $ 88,414  $ 99,470 
Diluted earnings per common share $ 1.09  $ 1.30  $ 1.45  $ 1.19  $ 1.36  $ 2.39  $ 2.67 
Adjusted diluted earnings per common share1
1.13  1.31  1.36  1.20  1.37  2.44  2.68 
Return on average assets 0.95  % 1.16  % 1.27  % 1.11  % 1.30  % 1.05  % 1.30  %
Adjusted return on average assets1
0.98  % 1.16  % 1.19  % 1.12  % 1.31  % 1.07  % 1.30  %
Return on average common equity1
8.10  % 9.80  % 10.95  % 9.29  % 11.03  % 8.95  % 11.07  %
Adjusted return on average common equity1
8.37  % 9.84  % 10.28  % 9.40  % 11.12  % 9.10  % 11.10  %
ROATCE1
10.39  % 12.53  % 14.02  % 11.56  % 13.84  % 11.46  % 13.93  %
Adjusted ROATCE1
10.73  % 12.59  % 13.15  % 11.70  % 13.96  % 11.66  % 13.97  %
Net interest margin (tax-equivalent) 4.30  % 4.28  % 4.26  % 4.23  % 4.21  % 4.29  % 4.18  %
Efficiency ratio 63.5  % 62.2  % 59.2  % 53.1  % 61.0  % 62.8  % 60.5  %
Core efficiency ratio1
61.1  % 60.2  % 58.3  % 61.0  % 59.3  % 60.7  % 59.1  %
Assets $ 17,399,009  $ 17,227,828  $ 17,300,884  $ 16,402,405  $ 16,076,299 
Average assets $ 17,307,716  $ 17,311,103  $ 17,099,429  $ 16,178,088  $ 15,859,721  $ 17,309,400  $ 15,751,959 
Period end common shares outstanding 36,258  36,581  36,965  37,011  36,950 
Dividends per common share $ 0.34  $ 0.33  $ 0.32  $ 0.31  $ 0.30  $ 0.67  $ 0.59 
Tangible book value per common share1
$ 42.30  $ 41.38  $ 41.37  $ 41.58  $ 40.02 
Tangible common equity to tangible assets1
9.04  % 9.01  % 9.07  % 9.60  % 9.42  %
Total risk-based capital to risk-weighted assets2
15.0  % 13.9  % 13.9  % 14.4  % 14.7  %
1 Refer to Reconciliations of Non-GAAP Financial Measures tables for a reconciliation of these measures to GAAP.
2 Capital ratios for the current quarter are preliminary and subject to, among other things, completion and filing of the Company’s regulatory reports and ongoing regulatory review.


14

ENTERPRISE FINANCIAL SERVICES CORP
CONSOLIDATED FINANCIAL SUMMARY (unaudited) (continued)
Quarter ended Six months ended
(in thousands, except per share data) Jun 30,
2026		 Mar 31,
2026		 Dec 31,
2025		 Sep 30,
2025		 Jun 30,
2025		 Jun 30,
2026		 Jun 30,
2025
INCOME STATEMENTS
NET INTEREST INCOME
Interest income $ 229,313  $ 225,091  $ 232,273  $ 225,390  $ 218,967  $ 454,404  $ 430,747 
Interest expense 60,597  58,944  64,099  67,104  66,205  119,541  130,469 
Net interest income 168,716  166,147  168,174  158,286  152,762  334,863  300,278 
Provision for credit losses 14,210  7,243  9,236  8,447  3,470  21,453  8,654 
Net interest income after provision for credit losses 154,506  158,904  158,938  149,839  149,292  313,410  291,624 
NONINTEREST INCOME
Deposit service charges 5,477  5,256  5,081  4,935  4,940  10,733  9,360 
Wealth management revenue 2,804  2,712  2,642  2,571  2,584  5,516  5,243 
Card services revenue 2,545  2,535  2,621  2,535  2,444  5,080  4,839 
Tax credit income (loss)
 (1,733) (179) 3,180  (300) 2,207  (1,912) 4,817 
Insurance recoveries1
—  —  —  32,112  —  —  — 
Other income 4,385  8,764  11,888  6,771  8,429  13,149  14,828 
Total noninterest income 13,478  19,088  25,412  48,624  20,604  32,566  39,087 
NONINTEREST EXPENSE
Employee compensation and benefits 53,114  55,759  50,149  49,640  50,164  108,873  98,372 
Deposit costs 27,832  25,996  27,471  27,172  24,765  53,828  48,588 
Occupancy 5,909  5,902  5,764  4,895  5,065  11,811  9,495 
FDIC special assessment —  —  (652) —  —  —  — 
Acquisition costs —  —  2,548  609  518  —  518 
Other expense 28,884  27,480  29,252  27,474  25,190  56,364  48,512 
Total noninterest expense 115,739  115,137  114,532  109,790  105,702  230,876  205,485 
Income before income tax expense 52,245  62,855  69,818  88,673  64,194  115,100  125,226 
Income tax expense 11,318  13,493  15,024  11,326  12,810  24,811  23,881 
Tax credit recapture and provision for anticipated tax applied to related insurance recoveries2
—  —  —  32,112  —  —  — 
Total income tax expense 11,318  13,493  15,024  43,438  12,810  24,811  23,881 
Net income $ 40,927  $ 49,362  $ 54,794  $ 45,235  $ 51,384  $ 90,289  $ 101,345 
Preferred stock dividends 937  938  937  938  937  1,875  1,875 
Net income available to common stockholders $ 39,990  $ 48,424  $ 53,857  $ 44,297  $ 50,447  $ 88,414  $ 99,470 
Basic earnings per common share $ 1.10  $ 1.31  $ 1.46  $ 1.20  $ 1.36  $ 2.41  $ 2.69 
Diluted earnings per common share $ 1.09  $ 1.30  $ 1.45  $ 1.19  $ 1.36  $ 2.39  $ 2.67 
1 Represents anticipated proceeds from a pending insurance claim related to a third quarter 2025 solar tax credit recapture event.
2 Represents recapture of $24.1 million solar tax credit and approximately $8.0 million of estimated tax liability related to anticipated proceeds from pending insurance claim related to a third quarter 2025 recapture event.

15

ENTERPRISE FINANCIAL SERVICES CORP
CONSOLIDATED FINANCIAL SUMMARY (unaudited) (continued)
    
At
($ in thousands) Jun 30,
2026		 Mar 31,
2026		 Dec 31,
2025		 Sep 30,
2025		 Jun 30,
2025
BALANCE SHEET
ASSETS
Cash and due from banks $ 273,875  $ 258,542  $ 208,080  $ 208,455  $ 252,817 
Interest-earning deposits 278,852  376,824  474,720  264,399  239,602 
Debt and equity investments 3,960,834  3,911,106  3,810,876  3,527,467  3,384,347 
Loans held for sale 1,145  418  928  681  586 
Loans 11,892,399  11,692,780  11,800,338  11,583,109  11,408,840 
Allowance for credit losses (139,238) (142,064) (140,022) (148,854) (145,133)
Total loans, net 11,753,161  11,550,716  11,660,316  11,434,255  11,263,707 
Fixed assets, net 57,318  57,956  58,993  49,248  48,639 
Goodwill 416,968  416,968  416,968  365,164  365,164 
Intangible assets, net 18,228  19,525  21,175  6,140  6,876 
Other assets 638,628  635,773  648,828  546,596  514,561 
Total assets $ 17,399,009  $ 17,227,828  $ 17,300,884  $ 16,402,405  $ 16,076,299 
LIABILITIES AND STOCKHOLDERS’ EQUITY
Noninterest-bearing deposits $ 4,910,235  $ 4,828,375  $ 4,874,115  $ 4,386,513  $ 4,322,332 
Interest-bearing deposits 9,592,316  9,696,022  9,735,227  9,181,399  8,995,027 
Total deposits 14,502,551  14,524,397  14,609,342  13,567,912  13,317,359 
Subordinated debentures and notes 265,910  93,759  93,688  93,617  156,796 
FHLB advances 208,000  —  —  327,000  294,000 
Other borrowings 208,166  319,345  387,717  247,006  210,641 
Other liabilities 173,536  268,123  170,751  184,538  174,604 
Total liabilities 15,358,163  15,205,624  15,261,498  14,420,073  14,153,400 
Stockholders’ equity:
Preferred stock 71,988  71,988  71,988  71,988  71,988 
Common stock 363  366  370  370  369 
Additional paid-in capital 986,133  990,394  1,000,775  997,446  991,663 
Retained earnings 1,056,072  1,041,038  1,020,840  980,548  947,864 
Accumulated other comprehensive loss (73,710) (81,582) (54,587) (68,020) (88,985)
Total stockholders’ equity 2,040,846  2,022,204  2,039,386  1,982,332  1,922,899 
Total liabilities and stockholders’ equity $ 17,399,009  $ 17,227,828  $ 17,300,884  $ 16,402,405  $ 16,076,299 


16

ENTERPRISE FINANCIAL SERVICES CORP
CONSOLIDATED FINANCIAL SUMMARY (unaudited) (continued)

Six months ended
June 30, 2026 June 30, 2025
($ in thousands) Average
Balance		 Interest
Income/
Expense		 Average Yield/ Rate Average
Balance		 Interest
Income/
Expense		 Average Yield/ Rate
AVERAGE BALANCE SHEET
Assets
Interest-earning assets:
Loans1, 2
$ 11,776,799  $ 374,199  6.41  % $ 11,299,832  $ 370,046  6.60  %
Taxable securities 2,510,396  54,006  4.34  1,895,241  37,565  4.00 
Nontaxable securities2
1,298,164  24,707  3.84  1,145,322  19,857  3.50 
Total securities 3,808,560  78,713  4.17  3,040,563  57,422  3.81 
Interest-earning deposits 467,589  8,230  3.55  396,986  8,492  4.31 
Total interest-earning assets 16,052,948  461,142  5.79  14,737,381  435,960  5.97 
Noninterest-earning assets 1,256,452  1,014,578 
Total assets $ 17,309,400  $ 15,751,959 
Liabilities and Stockholders’ Equity
Interest-bearing liabilities:
Interest-bearing demand accounts $ 3,446,232  $ 30,089  1.76  % $ 3,196,680  $ 34,209  2.16  %
Money market accounts 3,981,147  50,986  2.58  3,630,955  56,941  3.16 
Savings accounts 542,762  316  0.12  533,629  372  0.14 
Certificates of deposit 1,682,361  29,028  3.48  1,430,917  27,723  3.91 
Total interest-bearing deposits 9,652,502  110,419  2.31  8,792,181  119,245  2.74 
Subordinated debentures and notes 107,074  3,583  6.75  156,684  5,299  6.82 
FHLB advances 47,110  917  3.93  91,448  2,088  4.60 
Securities sold under agreements to repurchase 234,866  2,776  2.38  238,058  3,609  3.06 
Other borrowings 89,731  1,846  4.15  36,205  228  1.27 
Total interest-bearing liabilities 10,131,283  119,541  2.38  9,314,576  130,469  2.82 
Noninterest-bearing liabilities:
Demand deposits 4,956,803  4,401,504 
Other liabilities 157,013  151,080 
Total liabilities 15,245,099  13,867,160 
Stockholders' equity 2,064,301  1,884,799 
Total liabilities and stockholders' equity $ 17,309,400  $ 15,751,959 
Total net interest income $ 341,601  $ 305,491 
Net interest margin 4.29  % 4.18  %
1 Average balances include nonaccrual loans. Interest income includes net loan fees of $2.9 million and $3.4 million for the six months ended June 30, 2026 and June 30, 2025, respectively.
2 Non-taxable income is presented on a fully tax-equivalent basis using a tax rate of approximately 25%. The tax-equivalent adjustments were $6.7 million and $5.2 million for the six months ended June 30, 2026 and June 30, 2025, respectively.



17

ENTERPRISE FINANCIAL SERVICES CORP
CONSOLIDATED FINANCIAL SUMMARY (unaudited) (continued)
At or for the quarter ended
($ in thousands) Jun 30,
2026		 Mar 31,
2026		 Dec 31,
2025		 Sep 30,
2025		 Jun 30,
2025
LOAN PORTFOLIO
Commercial and industrial $ 5,257,840  $ 5,168,533  $ 5,231,616  $ 4,943,561  $ 4,870,268 
Commercial real estate 5,556,856  5,453,966  5,453,821  5,178,649  5,074,100 
Construction real estate 663,480  667,703  687,584  858,146  844,497 
Residential real estate 361,346  346,181  367,682  365,010  364,281 
Consumer 52,877  56,397  59,635  237,743  255,694 
Total loans $ 11,892,399  $ 11,692,780  $ 11,800,338  $ 11,583,109  $ 11,408,840 
DEPOSIT PORTFOLIO
Noninterest-bearing demand accounts $ 4,910,235  $ 4,828,375  $ 4,874,115  $ 4,386,513  $ 4,322,332 
Interest-bearing demand accounts 3,406,505  3,395,680  3,537,334  3,301,621  3,184,670 
Money market and savings accounts 4,482,011  4,610,662  4,528,510  4,228,605  4,209,032 
Brokered certificates of deposit 736,377  724,788  721,977  762,499  752,422 
Other certificates of deposit 967,423  964,892  947,406  888,674  848,903 
Total deposits $ 14,502,551  $ 14,524,397  $ 14,609,342  $ 13,567,912  $ 13,317,359 
AVERAGE BALANCES
Loans $ 11,775,879  $ 11,777,727  $ 11,794,459  $ 11,454,183  $ 11,358,209 
Securities 3,833,994  3,782,844  3,623,965  3,353,305  3,149,010 
Interest-earning assets 16,040,917  16,065,112  15,971,267  15,135,880  14,822,957 
Assets 17,307,716  17,311,103  17,099,429  16,178,088  15,859,721 
Deposits 14,608,514  14,609,433  14,537,381  13,604,302  13,245,241 
Stockholders’ equity 2,052,233  2,076,504  2,022,472  1,964,126  1,906,089 
Tangible common equity1
1,544,417  1,567,129  1,524,453  1,520,476  1,461,700 
YIELDS (tax-equivalent)
Loans 6.43  % 6.38  % 6.51  % 6.64  % 6.64  %
Securities 4.21  4.13  4.02  3.93  3.86 
Interest-earning assets 5.82  5.77  5.86  5.99  6.00 
Interest-bearing deposits 2.30  2.31  2.46  2.67  2.70 
Deposits 1.53  1.52  1.64  1.80  1.82 
Subordinated debentures and notes 6.87  6.59  6.61  7.78  7.00 
FHLB advances and other borrowed funds 3.08  2.92  3.27  3.47  3.48 
Interest-bearing liabilities 2.39  2.37  2.52  2.77  2.81 
Net interest margin 4.30  4.28  4.26  4.23  4.21 
1 Refer to Reconciliations of Non-GAAP Financial Measures tables for a reconciliation of these measures to GAAP.


18

ENTERPRISE FINANCIAL SERVICES CORP
CONSOLIDATED FINANCIAL SUMMARY (unaudited) (continued)
Quarter ended
(in thousands, except per share data) Jun 30,
2026		 Mar 31,
2026		 Dec 31,
2025		 Sep 30,
2025		 Jun 30,
2025
ASSET QUALITY
Net charge-offs
 $ 13,555  $ 4,407  $ 20,674  $ 4,057  $ 630 
Nonperforming loans 76,144  64,941  82,809  127,878  105,807 
Classified assets 413,779  430,288  410,485  352,792  281,162 
Nonperforming loans to total loans 0.64  % 0.56  % 0.70  % 1.10  % 0.93  %
Nonperforming assets to total assets 0.92  % 0.87  % 0.95  % 0.83  % 0.71  %
Allowance for credit losses to total loans 1.17  % 1.21  % 1.19  % 1.29  % 1.27  %
Allowance for credit losses to total loans, excluding guaranteed loans1
1.27  % 1.32  % 1.29  % 1.40  % 1.38  %
Allowance for credit losses to nonperforming loans 182.9  % 218.8  % 169.1  % 116.4  % 137.2  %
Net charge-offs to average loans - annualized
 0.46  % 0.15  % 0.70  % 0.14  % 0.02  %
WEALTH MANAGEMENT
Trust assets under management $ 3,060,836  $ 2,882,919  $ 2,750,803  $ 2,566,784  $ 2,457,471 
SHARE DATA
Book value per common share $ 54.30  $ 53.31  $ 53.22  $ 51.62  $ 50.09 
Tangible book value per common share1
$ 42.30  $ 41.38  $ 41.37  $ 41.58  $ 40.02 
Market value per share $ 65.88  $ 54.11  $ 54.00  $ 57.98  $ 55.10 
Period end common shares outstanding 36,258  36,581  36,965  37,011  36,950 
Average basic common shares 36,438  36,907  36,997  37,015  36,963 
Average diluted common shares 36,697  37,152  37,265  37,333  37,172 
CAPITAL
Total risk-based capital to risk-weighted assets2
15.0  % 13.9  % 13.9  % 14.4  % 14.7  %
Tier 1 capital to risk-weighted assets2
12.7  % 12.9  % 12.8  % 13.3  % 13.2  %
Common equity tier 1 capital to risk-weighted assets2
11.5  % 11.7  % 11.6  % 12.0  % 11.9  %
Tangible common equity to tangible assets1
9.04  % 9.01  % 9.07  % 9.60  % 9.42  %
1 Refer to Reconciliations of Non-GAAP Financial Measures tables for a reconciliation of these measures to GAAP.
2 Capital ratios for the current quarter are preliminary and subject to, among other things, completion and filing of the Company’s regulatory reports and ongoing regulatory review.
19

ENTERPRISE FINANCIAL SERVICES CORP
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
Quarter ended Six months ended
($ in thousands) Jun 30,
2026		 Mar 31,
2026		 Dec 31,
2025		 Sep 30,
2025		 Jun 30,
2025		 Jun 30,
2026		 Jun 30,
2025
CORE EFFICIENCY RATIO
Net interest income (GAAP) $ 168,716  $ 166,147  $ 168,174  $ 158,286  $ 152,762  $ 334,863  $ 300,278 
Tax-equivalent adjustment 3,418  3,320  3,477  3,045  2,738  6,738  5,213 
Noninterest income (GAAP) 13,478  19,088  25,412  48,624  20,604  32,566  39,087 
Less insurance recoveries1
—  —  —  32,112  —  —  — 
Less gain on sales of fixed assets 687  —  —  —  —  687  — 
Less net gain (loss) on sales of investment securities
 (2,146) —  (57) —  —  (2,146) 106 
Less net gain (loss) on OREO
 (302) (295) 6,169  7  56  (597) 79 
Core revenue (non-GAAP) $ 187,373  $ 188,850  $ 190,951  $ 177,836  $ 176,048  $ 376,223  $ 344,393 
Noninterest expense (GAAP) $ 115,739  $ 115,137  $ 114,532  $ 109,790  $ 105,702  $ 230,876  $ 205,485 
Less FDIC special assessment —  —  (652) —  —  —  — 
Less amortization on intangibles 1,297  1,400  1,380  736  753  2,697  1,608 
Less acquisition costs —  —  2,548  609  518  —  518 
Core noninterest expense (non-GAAP) $ 114,442  $ 113,737  $ 111,256  $ 108,445  $ 104,431  $ 228,179  $ 203,359 
Core efficiency ratio (non-GAAP) 61.1  % 60.2  % 58.3  % 61.0  % 59.3  % 60.7  % 59.1  %
1Represents anticipated proceeds from a pending insurance claim related to a third quarter 2025 solar tax credit recapture event.

Quarter ended
(in thousands, except per share data) Jun 30,
2026		 Mar 31,
2026		 Dec 31,
2025		 Sep 30,
2025		 Jun 30,
2025
TANGIBLE COMMON EQUITY, TANGIBLE BOOK VALUE PER COMMON SHARE AND TANGIBLE COMMON EQUITY RATIO
Stockholders’ equity (GAAP) $ 2,040,846  $ 2,022,204  $ 2,039,386  $ 1,982,332  $ 1,922,899 
Less preferred stock 71,988  71,988  71,988  71,988  71,988 
Less goodwill 416,968  416,968  416,968  365,164  365,164 
Less intangible assets 18,228  19,525  21,175  6,140  6,876 
Tangible common equity (non-GAAP) $ 1,533,662  $ 1,513,723  $ 1,529,255  $ 1,539,040  $ 1,478,871 
Less net unrealized losses on HTM securities, after tax 28,584  39,080  26,431  37,341  56,508 
Tangible common equity adjusted for unrealized losses on HTM securities (non-GAAP) $ 1,505,078  $ 1,474,643  $ 1,502,824  $ 1,501,699  $ 1,422,363 
Common shares outstanding 36,258  36,581  36,965  37,011  36,950 
Tangible book value per common share (non-GAAP) $ 42.30  $ 41.38  $ 41.37  $ 41.58  $ 40.02 
Total assets (GAAP) $ 17,399,009  $ 17,227,828  $ 17,300,884  $ 16,402,405  $ 16,076,299 
Less goodwill 416,968  416,968  416,968  365,164  365,164 
Less intangible assets 18,228  19,525  21,175  6,140  6,876 
Tangible assets (non-GAAP) $ 16,963,813  $ 16,791,335  $ 16,862,741  $ 16,031,101  $ 15,704,259 
Tangible common equity to tangible assets (non-GAAP) 9.04  % 9.01  % 9.07  % 9.60  % 9.42  %
Tangible common equity to tangible assets adjusted for unrealized losses on HTM securities (non-GAAP) 8.87  % 8.78  % 8.91  % 9.37  % 9.06  %



20

Quarter ended Six months ended
($ in thousands) Jun 30,
2026		 Mar 31,
2026		 Dec 31,
2025		 Sep 30,
2025		 Jun 30,
2025		 Jun 30,
2026		 Jun 30,
2025
RETURN ON AVERAGE TANGIBLE COMMON EQUITY (ROATCE), RETURN ON AVERAGE ASSETS (ROAA) AND DILUTED EARNINGS PER SHARE
Average stockholder’s equity (GAAP) $ 2,052,233  $ 2,076,504  $ 2,022,472  $ 1,964,126  $ 1,906,089  $ 2,064,301  $ 1,884,799 
Less average preferred stock 71,988  71,988  71,988  71,988  71,988  71,988  71,988 
Less average goodwill 416,968  416,968  414,858  365,164  365,164  416,968  365,164 
Less average intangible assets 18,860  20,419  11,173  6,498  7,237  19,635  7,629 
Average tangible common equity (non-GAAP) $ 1,544,417  $ 1,567,129  $ 1,524,453  $ 1,520,476  $ 1,461,700  $ 1,555,710  $ 1,440,018 
Net income (GAAP) $ 40,927  $ 49,362  $ 54,794  $ 45,235  $ 51,384  $ 90,289  $ 101,345 
FDIC special assessment (after tax) —  —  (488) —  —  —  — 
Acquisition costs (after tax) —  —  1,742  549  462  —  462 
Less net gain on sales of fixed assets (after tax) 515  —  —  —  —  515  — 
Less net gain (loss) on sales of investment securities (after tax)
 (1,607) —  (43) —  —  (1,607) 80 
Less net gain (loss) on OREO (after tax)
 (226) (221) 4,621  5  42  (447) 59 
Net income adjusted (non-GAAP) $ 42,245  $ 49,583  $ 51,470  $ 45,779  $ 51,804  $ 91,828  $ 101,668 
Less preferred stock dividends 937  938  937  938  937  1,875  1,875 
Net income available to common stockholders adjusted (non-GAAP) $ 41,308  $ 48,645  $ 50,533  $ 44,841  $ 50,867  $ 89,953  $ 99,793 
Return on average common equity (non-GAAP) 8.10  % 9.80  % 10.95  % 9.29  % 11.03  % 8.95  % 11.07  %
Adjusted return on average common equity (non-GAAP) 8.37  % 9.84  % 10.28  % 9.40  % 11.12  % 9.10  % 11.10  %
ROATCE (non-GAAP) 10.39  % 12.53  % 14.02  % 11.56  % 13.84  % 11.46  % 13.93  %
Adjusted ROATCE (non-GAAP) 10.73  % 12.59  % 13.15  % 11.70  % 13.96  % 11.66  % 13.97  %
Average assets $ 17,307,716  $ 17,311,103  $ 17,099,429  $ 16,178,088  $ 15,859,721  $ 17,309,400  $ 15,751,959 
Return on average assets (GAAP) 0.95  % 1.16  % 1.27  % 1.11  % 1.30  % 1.05  % 1.30  %
Adjusted return on average assets (non-GAAP) 0.98  % 1.16  % 1.19  % 1.12  % 1.31  % 1.07  % 1.30  %
Average diluted common shares 36,697 37,152 37,265 37,333 37,172 36,926 37,224
Diluted earnings per share (GAAP) $ 1.09  $ 1.30  $ 1.45  $ 1.19  $ 1.36  $ 2.39  $ 2.67 
Adjusted diluted earnings per share (non-GAAP) $ 1.13  $ 1.31  $ 1.36  $ 1.20  $ 1.37  $ 2.44  $ 2.68 

Quarter ended
($ in thousands) Jun 30,
2026		 Mar 31,
2026		 Dec 31,
2025		 Sep 30,
2025		 Jun 30,
2025
CALCULATION OF PRE-PROVISION NET REVENUE (PPNR)
Net interest income (GAAP) $ 168,716  $ 166,147  $ 168,174  $ 158,286  $ 152,762 
Noninterest income (GAAP) 13,478  19,088  25,412  48,624  20,604 
FDIC special assessment —  —  (652) —  — 
Acquisition costs —  —  2,548  609  518 
Less net loss on sales of investment securities
 (2,146) —  (57) —  — 
Less net gain (loss) on OREO
 (302) (295) 6,169  7  56 
Less gain on sales of fixed assets 687  —  —  —  — 
Less insurance recoveries —  —  —  32,112  — 
Less noninterest expense (GAAP) 115,739  115,137  114,532  109,790  105,702 
PPNR (non-GAAP) $ 68,216  $ 70,393  $ 74,838  $ 65,610  $ 68,126 

21

At
($ in thousands) Jun 30,
2026		 Mar 31,
2026		 Dec 31,
2025		 Sep 30,
2025		 Jun 30,
2025
ALLOWANCE TO LOANS RATIO EXCLUDING GUARANTEED LOANS
Loans (GAAP) $ 11,892,399  $ 11,692,780  $ 11,800,338  $ 11,583,109  $ 11,408,840 
Less guaranteed loans 939,255  935,409  960,132  922,168  913,118 
Adjusted loans (non-GAAP) $ 10,953,144  $ 10,757,371  $ 10,840,206  $ 10,660,941  $ 10,495,722 
Allowance for credit losses $ 139,238  $ 142,064  $ 140,022  $ 148,854  $ 145,133 
Allowance for credit losses/loans (GAAP) 1.17  % 1.21  % 1.19  % 1.29  % 1.27  %
Allowance for credit losses/adjusted loans (non-GAAP) 1.27  % 1.32  % 1.29  % 1.40  % 1.38  %


22
EX-99.2 3 q22026efscearningsreleas.htm WEBCAST SLIDES q22026efscearningsreleas
Exhibit 99.2 Enterprise Financial Services Corp 2026 Second Quarter Earnings Webcast

 
2 Some of the information in this report may contain “forward-looking statements” within the meaning of and intended to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements may include projections based on management’s current expectations and beliefs concerning future developments and their potential effects on Enterprise Financial Services Corp (the “Company” or “EFSC”) including, without limitation, plans, strategies and goals, and statements about the Company’s expectations regarding revenue and asset growth, financial performance and profitability, loan and deposit growth, liquidity, yields and returns, loan diversification and credit management, stockholder value creation and the impact of acquisitions. Forward-looking statements are typically identified by words such as “believe,” “expect,” “anticipate,” “intend,” “outlook,” “estimate,” “forecast,” “project,” “pro forma,” “pipeline” and other similar words and expressions. Forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time. Forward-looking statements speak only as of the date they are made. Because forward-looking statements are subject to assumptions and uncertainties, actual results or future events could differ, possibly materially, from those anticipated in the forward-looking statements and future results could differ materially from historical performance. They are neither statements of historical fact nor guarantees or assurances of future performance. While there is no assurance that any list of risks and uncertainties or risk factors is complete, important factors that could cause actual results to differ materially from those in the forward-looking statements include the following, without limitation: our ability to efficiently integrate acquisitions into our operations, retain the customers of these businesses and grow the acquired operations; our ability to collect insurance proceeds from claims made related to tax recapture events; credit risk; changes in the appraised valuation of real estate securing impaired loans; outcomes of litigation and other contingencies; exposure to general and local economic and market conditions, high unemployment rates, higher inflation and its impacts (including U.S. federal government measures to address higher inflation), impacts of trade and tariff policies, U.S. fiscal debt, budget and tax matters (including the effect of a prolonged U.S. federal government shutdown), and any slowdown in global economic growth; risks associated with rapid increases or decreases in prevailing interest rates; our ability to attract and retain deposits and access to other sources of liquidity; changes in business prospects that could impact goodwill estimates and assumptions; consolidation within the banking industry; competition from banks and other financial institutions; the ability to attract and retain relationship officers and other key personnel; burdens imposed by federal and state regulation; changes in legislative or regulatory requirements, as well as current, pending or future legislation or regulation that could have a negative effect on our revenue and business, including rules and regulations relating to bank products and financial services; changes in accounting policies and practices or accounting standards; natural disasters (including wildfires and earthquakes); terrorist activities, war and geopolitical matters (including in Israel, Iran and Ukraine and the imposition of additional sanctions and export controls in connection therewith), or pandemics, or other health emergencies and their effects on economic and business environments in which we operate, including the related disruption to the financial market and other economic activity; and those factors and risks referenced from time to time in the Company’s filings with the Securities and Exchange Commission (the “SEC”), including in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025, and the Company’s other filings with the SEC. The Company cautions that the preceding list is not exhaustive of all possible risk factors and other factors could also adversely affect the Company’s results. For any forward-looking statements made in this press release or in any documents, EFSC claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Annualized, pro forma, projected and estimated numbers in this document are used for illustrative purposes only, are not forecasts and may not reflect actual results. Readers are cautioned not to place undue reliance on any forward-looking statements. Except to the extent required by applicable law or regulation, EFSC disclaims any obligation to revise or publicly release any revision or update to any of the forward-looking statements included herein to reflect events or circumstances that occur after the date on which such statements were made. Forward-Looking Statements

 
3 Financial Highlights - 2Q26* Capital • Tangible Common Equity/Tangible Assets** 9.04%, compared to 9.01% • Tangible Book Value Per Common Share** $42.30, compared to $41.38 • CET1 Ratio 11.5%, compared to 11.7% • Issued $175.0 million of 6.25% fixed-to-floating rate subordinated notes due in 2036 • Quarterly common stock dividend of $0.34 per share in second quarter 2026 ($0.01 increase) • Quarterly preferred stock dividend of $12.50 per share ($0.3125 per depositary share) • Returned $22.9 million to stockholders through common stock repurchases • Net Income $40.9 million, down $8.4 million; EPS $1.09 • Net Interest Income $168.7 million, up $2.6 million; NIM 4.30% • PPNR** $68.2 million, down $2.2 million • ROAA 0.95%, compared to 1.16%; PPNR ROAA** 1.58%, compared to 1.65% • ROATCE** 10.39%, compared to 12.53% Earnings *Comparisons noted below are to the linked quarter unless otherwise noted. **A Non-GAAP Measure, Refer to Appendix for Reconciliation.

 
4 Financial Highlights, continued - 2Q26* Loans & Deposits • Loans $11.9 billion, up $199.6 million • Loan/Deposit Ratio 82.0% • Deposits $14.5 billion, down $21.8 million • Noninterest-bearing Deposits/Total Deposits 34% Asset Quality • Nonperforming Loans/Loans 0.64% • Nonperforming Assets/Assets 0.92% • Allowance Coverage Ratio 1.17%; 1.27% adjusted for guaranteed loans** • Net Charge-Offs $13.6 million *Comparisons noted below are to the linked quarter unless otherwise noted. **A Non-GAAP Measure, Refer to Appendix for Reconciliation.

 
5 2026 Priorities Improve Asset Quality • Reduce criticized and classified loans • Reduce nonperforming assets • Focused credit underwriting and monitoring Leverage Technology to Enhance Productivity and Efficiency • Expand use of existing technology framework • Evaluate business automation opportunities • Integrate manual procedures into automated workflow processes Organic Loan and Deposit Growth • Disciplined pricing • Expand existing relationships and new client acquisitions • Leverage investment in sales associates

 
6 Loan Details 2Q26** 1Q26** 2Q25 Qtr Change LTM Change C&I $ 2,628 $ 2,655 $ 2,317 $ (27) $ 311 CRE Investor Owned 2,903 2,763 2,548 140 355 CRE Owner Occupied 1,422 1,453 1,282 (31) 140 SBA loans* 1,237 1,231 1,249 6 (12) Sponsor Finance* 709 662 771 47 (62) Life Insurance Premium Financing* 1,250 1,208 1,156 42 94 Tax Credits* 725 702 708 23 17 Residential Real Estate 356 341 357 15 (1) Construction and Land Development 609 622 773 (13) (164) Consumer*** 53 56 248 (3) (195) Total Loans $ 11,892 $ 11,693 $ 11,409 $ 199 $ 483 *Specialty loan category. **Branch acquisition completed in October 2025. ***Certain loans were reclassified from Consumer and into other categories in the fourth quarter of 2025. Prior period amounts were not adjusted. $ In Millions

 
7 Loans By Region Specialty Lending $4,141 $4,076 $4,249 2Q25 1Q26* 2Q26* $ In Millions Midwest $3,186 $3,352 $3,277 2Q25 1Q26* 2Q26* Southwest $1,890 $2,345 $2,415 2Q25 1Q26* 2Q26* Excludes “Consumer” loans; Region Components: Midwest (St. Louis & Kansas City), Southwest (AZ, NM, Las Vegas, TX), West (Southern California); *Branch acquisition completed in October 2025. West $1,944 $1,864 $1,898 2Q25 1Q26* 2Q26*

 
8 Deposit Details 2Q26* 1Q26* 2Q25 Qtr Change LTM Change Noninterest-bearing demand accounts $ 4,910 $ 4,828 $ 4,322 $ 82 $ 588 Interest-bearing demand accounts 3,407 3,396 3,185 11 222 Money market accounts 3,945 4,059 3,676 (114) 269 Savings accounts 538 551 533 (13) 5 Certificates of deposit: Brokered 736 725 752 11 (16) Customer 967 965 849 2 118 Total Deposits $ 14,503 $ 14,524 $ 13,317 $ (21) $ 1,186 Deposit Verticals (included in total deposits)** $ 4,064 $ 4,002 $ 3,585 $ 62 $ 479 $ In Millions * Branch acquisition completed in October 2025 ** Total deposits excluding Deposit Verticals and brokered CDs decreased $94 million from 1Q26 and increased $723 million from 2Q25

 
9 Deposits By Region Deposit Verticals $3,585 $4,002 $4,064 2Q25 1Q26** 2Q26** $ In Millions Region Components: Midwest (St. Louis & Kansas City), Southwest (AZ, NM, Las Vegas, TX), West (Southern California) *Includes brokered balances **Branch acquisition completed in October 2025. Midwest* $6,340 $6,621 $6,558 2Q25 1Q26** 2Q26** West* $1,333 $1,277 $1,220 2Q25 1Q26** 2Q26** Southwest $2,059 $2,624 $2,661 2Q25 1Q26** 2Q26**

 
10 Differentiated Deposit Verticals Community Associations 38.6% Property Management 42.3% Legal Industry and Escrow Services 19.1% Community Associations $1.6 billion in deposit accounts specifically designed to serve the needs of community associations. Property Management $1.7 billion in deposits. Specializing in the compliance of Property Management Trust Accounts. Legal Industry and Escrow Services $777 million in deposits. Product lines providing services to independent escrow and non- depository trust companies. • $4.06 billion - 28% of total deposits • $4.16 billion - Average deposits for 2Q26 • $27.8 million - Related deposit costs in noninterest expense, resulting in an average deposit vertical cost of 2.69% in 2Q26 • $132.7 million - Average Deposits per Branch for FDIC Insured Banks with a deposit portfolio between $5-20B* ◦ 31 - The national deposit vertical portfolio is the equivalent of 31 traditional bank branches *Data Source: Deposit data as of June 30th, 2025, per the FDIC Summary of Deposits. 2Q25 3Q25 4Q25 1Q26 2Q26 Community Associations Property Management Legal Industry and Escrow Services $— $500 $1,000 $1,500 $2,000 $ In Millions

 
11 Core Funding Mix Commercial Business Banking Consumer $ In Millions Note: Brokered deposits were $982.2 million at 2Q26; 3.51% cost of funds Deposit Verticals 2Q26 Total Portfolio Average Account Size & Cost of Funds COMMERCIAL BUSINESS BANKING CONSUMER DEPOSIT VERTICALS Average account size ($ in thousands) 2Q26 $ 341 $ 78 $ 23 $ 99 1Q26 $ 326 $ 84 $ 24 $ 102 2Q25 $ 325 $ 81 $ 23 $ 104 Cost of funds 2Q26 2.00 % 1.05 % 1.38 % 0.58 % 1Q26 1.96 % 1.26 % 1.39 % 0.61 % 2Q25 2.21 % 1.35 % 1.53 % 0.87 % • ~80% of commercial deposits utilize Treasury Management services • ~90% of checking and savings accounts utilize online banking services • ~60% of commercial deposits have a lending relationship Overview 27% 35% 34% 41% 32% 18% 7% 6% 29% 27% 17% 20% 68% 7% 23% $4,959 $4,064$2,794$1,704 DDA IB DDA MMA SAV CD 1 yr or less CD > 1 yr

 
12 Earnings Per Share Trend - 2Q26 $1.30 $0.06 $(0.12) $(0.15) $(0.01) $0.01 $1.09 1Q26 Net Interest Income Noninterest Income Provision for Credit Losses Noninterest Expense Change in Shares 2Q26 Change in Diluted EPS

 
13 $152.8 $158.3 $168.2 $166.1 $168.7 4.21% 4.23% 4.26% 4.28% 4.30%4.33% 4.30% 3.90% 3.64% 3.63% Net Interest Income Net Interest Margin Avg Fed Funds Rate 2Q25 3Q25 4Q25 1Q26 2Q26 Net Interest Income Trend $ In Millions Net Interest Income 2Q25 3Q25 4Q25 1Q26 2Q26 Net Interest Income - FTE $ 155.5 $ 161.3 $ 171.7 $ 169.5 $ 172.1 Purchase Accounting Amortization/(Accretion) 0.4 0.6 (0.2) (0.5) (0.7) Adjusted Net Interest Income - FTE (Excluding Purchase Accounting) $ 155.9 $ 161.9 $ 171.5 $ 169.0 $ 171.4 Net Interest Margin 4.21 % 4.23 % 4.26 % 4.28 % 4.30 % Purchase Accounting Amortization/(Accretion) 0.01 % 0.02 % 0.00 % (0.01) % (0.02) % Adjusted Net Interest Income - FTE (Excluding Purchase Accounting) 4.22 % 4.25 % 4.26 % 4.27 % 4.28 %

 
14 Net Interest Margin 6.64% 6.64% 6.51% 6.38% 6.43% 3.86% 3.93% 4.02% 4.13% 4.21% 6.00% 5.99% 5.86% 5.77% 5.82% Earning asset yield Securities yield Loan yield 2Q25 3Q25 4Q25 1Q26 2Q26 2.70% 2.67% 2.46% 2.31% 2.30% 1.82% 1.80% 1.64% 1.52% 1.53% 2.81% 2.77% 2.52% 2.37% 2.39% Interest-bearing deposit rate Total cost of deposits Interest-bearing liabilities 2Q25 3Q25 4Q25 1Q26 2Q26 Components of Interest-bearing LiabilitiesComponents of Interest-earning Assets 4.28% 0.04% 0.03% (0.04)% (0.01)% 4.30% 1Q26 Loans Securities Funding Mix Deposits 2Q26 Margin Bridge

 
15 2 14 70 15 46 2Q25 3Q25 4Q25 1Q26 2Q26 $110 $174 $(75) $(108) $200 $292 45.9% 45.0% 43.9% 44.7% 46.7% Organic Loans Acquired Loans Avg Line Draw % 2Q25 3Q25 4Q25 1Q26 2Q26 2Q25 1Q26 2Q26 NPLs/Loans 0.93 % 0.56 % 0.64 % NPAs/Assets 0.71 % 0.87 % 0.92 % ACL/NPLs 137.2 % 218.8 % 182.9 % ACL/Loans** 1.38 % 1.32 % 1.27 % Annualized Net Charge-Offs to Average Loans Provision for Credit Losses* $3.5 $8.4 $9.2 $7.2 $14.2 2Q25 3Q25 4Q25 1Q26 2Q26 $ In Millionsbps bps bps bps bps $ In Millions Loan Growth and Average Line of Credit Utilization *Includes credit loss expense on loans, investments and unfunded commitments. **Excludes guaranteed loans. A Non-GAAP Measure, Refer to Appendix for Reconciliation. Credit Trends

 
16 $142.1 $10.7 $(13.6) $139.2 ACL 1Q26 Portfolio Changes Net Charge-offs ACL 2Q26 Allowance for Credit Losses on Loans $ In Millions • New loans and changes in composition of existing loans • Changes in risk ratings, past due status and reserves on individually evaluated loans • Changes in macroeconomic and qualitative factors $ In Millions 2Q26 Loans ACL ACL as a % of Loans Commercial and industrial $ 5,258 $ 77 1.46 % Commercial real estate 5,557 42 0.76 % Construction real estate 663 12 1.81 % Residential real estate 361 7 1.94 % Consumer 53 1 1.89 % Total $ 11,892 $ 139 1.17 % Reserves on sponsor finance, agricultural, and investor office CRE loans, which are included in the categories above, represented $31.6 million, $4.2 million, and $5.5 million, respectively. Total ACL as a percentage of loans excluding $939.3 million of government guaranteed loans was 1.27%*. Key Assumptions: • Reasonable and supportable forecast period is one year with a one year reversion period. • Forecast considers a weighted average of baseline, upside and downside scenarios. • Primary macroeconomic factors: ◦ Percentage change in GDP ◦ Unemployment ◦ Percentage change in Retail Sales ◦ Percentage change in CRE Index *A Non-GAAP Measure, Refer to Appendix for Reconciliation.

 
17 Noninterest Income Trend $20.6 $48.6 $25.4 $19.1 $13.5 $8.5 $6.8 $11.9 $8.8 $4.4 $32.1 $2.2 $(0.3) $3.2 $(0.2) $(1.7) $4.9 $4.9 $5.1 $5.3 $5.5 $2.4 $2.5 $2.6 $2.5 $2.5 $2.6 $2.6 $2.6 $2.7 $2.8 11.9% 23.5% 13.1% 10.3% 7.4% Other income Recaptured tax credit insurance proceeds* Tax credit income (loss) Deposit service charges Card services revenue Wealth management revenue Noninterest income/Total income 2Q25 3Q25 4Q25 1Q26 2Q26 $8.5 $6.8 $11.9 $8.8 $4.4 $2.1 $1.8 $2.2 $1.8 $3.1 $0.5 $0.6 $0.5 $0.4 $0.5 $2.6 $2.1 $1.9 $2.5 $2.4 $0.1 $0.3 $0.1 $0.1 $0.1$1.4 $0.3 $0.9 $1.1 $0.4 $0.5 $0.6 $0.2 $1.8 $0.3 $0.1 $6.2 $(0.3) $(0.3) $1.2 $1.1 $1.4 $(0.1) $(2.1) Miscellaneous income Servicing fees BOLI Swap fees CDE Private equity fund distribution Net gain (loss) on OREO Gain on SBA loan sales Net loss on sales of investment securities 2Q25 3Q25 4Q25 1Q26 2Q26 $ In Millions Noninterest Income Other Noninterest Income Detail *Represents anticipated proceeds from a pending insurance claim related to a third quarter 2025 solar tax credit recapture event.

 
18 Noninterest Expense Trend Noninterest Expense $ In Millions $25.1 $27.5 $28.6 $27.4 $28.9 $0.5 $0.6 $2.5 $24.8 $27.2 $27.5 $26.0 $27.8 $5.1 $4.9 $5.8 $5.9 $5.9 $50.2 $49.6 $50.1 $55.8 $53.1 59.3% 61.0% 58.3% 60.2% 61.1% $105.7 $109.8 $114.5 $115.1 $115.7 Other expense Acquisition costs Deposit costs Occupancy Employee compensation and benefits Core efficiency ratio* 2Q25 3Q25 4Q25 1Q26 2Q26 $25.1 $27.5 $28.6 $27.4 $28.9 $11.4 $12.6 $12.8 $11.3 $11.7 $4.8 $5.0 $5.2 $5.6 $6.0 $1.5 $2.2 $2.3 $1.6 $2.0 $3.4 $3.6 $3.2 $3.5 $4.0 $3.2 $3.4 $3.7 $4.0 $3.9 $0.8 $0.7 $1.4 $1.4 $1.3 Miscellaneous expense Data processing Professional fees FDIC and other insurance Loan, legal expenses Amortization expense 2Q25 3Q25 4Q25 1Q26 2Q26 *A Non-GAAP Measure, Refer to Appendix for Reconciliation. Other Noninterest Expense Detail

 
19 Capital Tangible Common Equity/Tangible Assets 9.42% 9.60% 9.07% 9.01% 9.04% Tangible Common Equity/Tangible Assets* 2Q25 3Q25 4Q25 1Q26 2Q26 *A Non-GAAP Measure, Refer to Appendix for Reconciliation. **Preliminary regulatory capital ratios. Regulatory Capital 10.0% 14.7% 14.4% 13.9% 13.9% 15.0% 6.5% 11.9% 12.0% 11.6% 11.7% 11.5% CET1 Tier 1 Total Risk Based Capital Minimum "Well Capitalized" Ratio 2Q25 3Q25 4Q25 1Q26 2Q26 8.0% 13.2% 13.3% 12.8% 12.9% EFSC Capital Strategy: Low Cost - Highly Flexible High Capital Retention Rate – Strong earnings profile – Sustainable dividend profile Supporting Robust Asset Growth – Organic loan and deposit growth – High quality M&A to enhance commercial franchise and geographic diversification Maintain High Quality Capital Stack – Minimize WACC over time (preferred, sub debt, etc.) – Optimize capital levels CET1 ~10%, Tier 1 ~12%, and Total Capital ~14% – $175 million aggregate principal amount of 6.25% fixed-to-floating rate subordinated notes issued during 2Q26 Maintain 8-9% TCE – Common stock repurchases – 382,083 shares repurchased at an average price of $59.93 during 2Q26 – M&A deal structures – Drives ROATCE above peer levels TBV and Dividends per Share $40.02 $41.58 $41.37 $41.38 $42.30 $0.30 $0.31 $0.32 $0.33 $0.34 TBV/Share* Dividends per Share 2Q25 3Q25 4Q25 1Q26 2Q26 12.7% **

 
Appendix

 
21 Investment Portfolio Breakout AFS & HTM Securities Obligations of U.S. Government- sponsored enterprises 3% Obligations of states and political subdivisions 39% Agency mortgage- backed securities 52% Corporate debt securities 3% U.S. Treasury bills 3% TOTAL $3.8 billion • Effective duration of 5.0 years balances the short 3-year duration of the loan portfolio • Cash flows next 12 months of approximately $645.8 million • 4.21% tax-equivalent yield • Municipal bond portfolio rated A or better • Laddered maturity and repayment structure for consistent cash flows Overview Total AFS (Fair Value) Total HTM (Fair Value) AFS Securities (Net Unrealized Loss) HTM Securities (Net Unrealized Loss) 2Q25 3Q25 4Q25 1Q26 2Q26 $— $1,000 $2,000 $3,000 $(200) $(100) $— $100 $ In Millions $348.6 $226.6 $575.8 $206.2 $437.5 5.30% 4.99% 4.61% 4.51% 5.03% Principal Cost Yield (TEQ) 2Q25 3Q25 4Q25 1Q26 2Q26 Investment Purchase Yield $ In Millions Investment Portfolio

 
22 EFSC Borrowing Capacity $6.7 $6.9 $6.6 $1.6 $1.5 $1.2 $3.0 $3.1 $3.0 $0.1 $0.1 $0.1 $2.0 $2.2 $2.3 46% 47% 46% FHLB borrowing capacity FRB borrowing capacity Fed Funds lines Unpledged securities Borrowing capacity/Deposits 4Q25 1Q26 2Q26 $ In Billions End of Period and Average Loans to Deposits 86% 85% 81% 81% 82%86% 84% 81% 81% 81% End of period Loans/Deposits Avg Loans/Avg Deposits 2Q25 3Q25 4Q25 1Q26 2Q26 • $1.2 billion available FHLB capacity • $3.0 billion available FRB capacity • $135.0 million in eight federal funds lines • $2.3 billion in unpledged investment securities • $552.1 million cash • $25.0 million available line of credit • Portfolio of saleable SBA loans • Investment portfolio/total assets of 22% • FHLB maximum credit capacity is 45% of assets $0.6 $0.5 $0.5 $0.4 $0.4 $0.6 $1.1 $1.6 $2.0 $2.4 Annual Cash Flows Cumulative Cash Flows 2026 2027 2028 2029 2030 Investment Portfolio Cash Flows* $ In Billions Strong Liquidity Profile *Trailing 12 months ending June 30 of each year Liquidity

 
23 Office CRE (Non-owner Occupied) Total $579.0 million Midwest 38.4% Southwest 37.6% West 19.5% Specialty 4.5% Office CRE Loans by Location Real Estate/ Rental/Leasing 87.8% Health Care and Social Assistance 3.7% Other 8.5% Office CRE Loans by Industry Type Size Average Risk Rating Number of Loans Balance Average Balance > $10 Million 5.44 16 $ 230.7 $ 14.4 $5-10 Million 5.36 14 94.1 6.7 $2-5 Million 5.43 47 150.7 3.2 < $2 Million 5.35 192 103.5 0.5 Total 5.37 269 $ 579.0 $ 2.2 Office CRE Loans by Size $ In Millions • Average loan-to-origination value 52% • 71% of loans have recourse to owners • Average debt-service coverage ratio (DSCR) of 1.52x • Average market occupancy of 88%; average rents of $24 psf • 42% Class A, 54% Class B, 4% Class C • $51.8 million unfunded commitments 23

 
24 Use of Non-GAAP Financial Measures The Company’s accounting and reporting policies conform to generally accepted accounting principles in the United States (“GAAP”) and the prevailing practices in the banking industry. However, the Company provides other financial measures, such as tangible common equity, PPNR, ROATCE, allowance coverage ratio adjusted for guaranteed loans, PPNR return on average assets (“PPNR ROAA”), core efficiency ratio, tangible common equity to tangible assets, and tangible book value per common share, in this release that are considered “non-GAAP financial measures.” Generally, a non-GAAP financial measure is a numerical measure of a company’s financial performance, financial position, or cash flows that exclude (or include) amounts that are included in (or excluded from) the most directly comparable measure calculated and presented in accordance with GAAP. The Company considers its tangible common equity, PPNR, ROATCE, allowance coverage ratio adjusted for guaranteed loans, PPNR return on average assets (“PPNR ROAA”), core efficiency ratio, tangible common equity to tangible assets, and tangible book value per common share, collectively “core performance measures,” presented in this earnings release and the included tables as important measures of financial performance, even though they are non-GAAP measures, as they provide supplemental information by which to evaluate the impact of certain non-comparable items, and the Company’s operating performance on an ongoing basis. Core performance measures exclude certain other income and expense items, such as the FDIC special assessment, acquisition costs, accrued insurance proceeds anticipated to be received as a result of recaptured tax credits, the net gain or loss on sales of fixed assets, the net gain or loss on other real estate owned (“OREO”), and the net gain or loss on sales of investment securities, that the Company believes to be not indicative of or useful to measure the Company’s operating performance on an ongoing basis. The attached tables contain a reconciliation of these core performance measures to the GAAP measures. The Company believes that the tangible common equity ratio provides useful information to investors about the Company’s capital strength even though it is considered to be a non-GAAP financial measure and is not part of the regulatory capital requirements to which the Company is subject. The Company believes these non-GAAP measures and ratios, when taken together with the corresponding GAAP measures and ratios, provide meaningful supplemental information regarding the Company’s performance and capital strength. The Company’s management uses, and believes that investors benefit from referring to, these non-GAAP measures and ratios in assessing the Company’s operating results and related trends and when forecasting future periods. However, these non-GAAP measures and ratios should be considered in addition to, and not as a substitute for or preferable to, ratios prepared in accordance with GAAP. In the attached tables, the Company has provided a reconciliation of, where applicable, the most comparable GAAP financial measures and ratios to the non-GAAP financial measures and ratios, or a reconciliation of the non-GAAP calculation of the financial measures for the periods indicated.

 
25 Reconciliation of Non-GAAP Financial Measures At ($ in thousands) June 30, 2026 March 31, 2026 December 31, 2025 September 30, 2025 June 30, 2025 STOCKHOLDERS’ EQUITY TO TANGIBLE COMMON EQUITY, TOTAL ASSETS TO TANGIBLE ASSETS, TANGIBLE BOOK VALUE PER COMMON SHARE, AND TANGIBLE COMMON EQUITY TO TANGIBLE ASSETS Stockholders’ equity (GAAP) $ 2,040,846 $ 2,022,204 $ 2,039,386 $ 1,982,332 $ 1,922,899 Less preferred stock 71,988 71,988 71,988 71,988 71,988 Less goodwill 416,968 416,968 416,968 365,164 365,164 Less intangible assets 18,228 19,525 21,175 6,140 6,876 Tangible common equity (non-GAAP) $ 1,533,662 $ 1,513,723 $ 1,529,255 $ 1,539,040 $ 1,478,871 Common shares outstanding 36,258 36,581 36,965 37,011 36,950 Tangible book value per common share (non-GAAP) $ 42.30 $ 41.38 $ 41.37 $ 41.58 $ 40.02 Total assets (GAAP) $ 17,399,009 $ 17,227,828 $ 17,300,884 $ 16,402,405 $ 16,076,299 Less goodwill 416,968 416,968 416,968 365,164 365,164 Less intangible assets 18,228 19,525 21,175 6,140 6,876 Tangible assets (non-GAAP) $ 16,963,813 $ 16,791,335 $ 16,862,741 $ 16,031,101 $ 15,704,259 Tangible common equity to tangible assets (non-GAAP) 9.04 % 9.01 % 9.07 % 9.60 % 9.42 % Quarter ended ($ in thousands) June 30, 2026 March 31, 2026 PRE-PROVISION NET REVENUE (PPNR) AND PPNR RETURN ON AVERAGE ASSETS (PPNR ROAA) Net interest income (GAAP) $ 168,716 $ 166,147 Noninterest income (GAAP) 13,478 19,088 Less gain on sales of fixed assets 687 — Less net loss on sales of investment securities (2,146) — Less net loss on OREO (302) (295) Less noninterest expense (GAAP) 115,739 115,137 PPNR (non-GAAP) $ 68,216 $ 70,393 Average assets $ 17,307,716 $ 17,311,103 PPNR ROAA (non-GAAP) 1.58 % 1.65 %

 
26 Reconciliation of Non-GAAP Financial Measures Quarter ended ($ in thousands) June 30, 2026 March 31, 2026 RETURN ON AVERAGE TANGIBLE COMMON EQUITY (ROATCE) Average stockholder’s equity (GAAP) $ 2,052,233 $ 2,076,504 Less average preferred stock 71,988 71,988 Less average goodwill 416,968 416,968 Less average intangible assets 18,860 20,419 Average tangible common equity (non-GAAP) $ 1,544,417 $ 1,567,129 Net income available to common stockholders (GAAP) $ 39,990 $ 48,424 ROATCE (non-GAAP) 10.39 % 12.53 % At ($ in thousands) June 30, 2026 March 31, 2026 June 30, 2025 ALLOWANCE COVERAGE RATIO ADJUSTED FOR GUARANTEED LOANS Loans (GAAP) $ 11,892,399 $ 11,692,780 $ 11,408,840 Less guaranteed loans 939,255 935,409 913,118 Adjusted loans (non-GAAP) $ 10,953,144 $ 10,757,371 $ 10,495,722 Allowance for credit losses $ 139,238 $ 142,064 $ 145,133 Allowance for credit losses/loans (GAAP) 1.17 % 1.21 % 1.27 % Allowance for credit losses/adjusted loans (non-GAAP) 1.27 % 1.32 % 1.38 %

 
27 Reconciliation of Non-GAAP Financial Measures Quarter ended ($ in thousands) June 30, 2026 March 31, 2026 December 31, 2025 September 30, 2025 June 30, 2025 CORE EFFICIENCY RATIO Net interest income (GAAP) $ 168,716 $ 166,147 $ 168,174 $ 158,286 $ 152,762 Tax-equivalent adjustment 3,418 3,320 3,477 3,045 2,738 Noninterest income (GAAP) 13,478 19,088 25,412 48,624 20,604 Less insurance recoveries1 — — — 32,112 — Less gain on sales of fixed assets 687 — — — — Less net loss on sales of investment securities (2,146) — (57) — — Less net gain (loss) on OREO (302) (295) 6,169 7 56 Core revenue (non-GAAP) $ 187,373 $ 188,850 $ 190,951 $ 177,836 $ 176,048 Noninterest expense (GAAP) $ 115,739 $ 115,137 $ 114,532 $ 109,790 $ 105,702 Less FDIC special assessment — — (652) — — Less amortization on intangibles 1,297 1,400 1,380 736 753 Less acquisition costs — — 2,548 609 518 Core revenue (non-GAAP) $ 114,442 $ 113,737 $ 111,256 $ 108,445 $ 104,431 Core efficiency ratio (non-GAAP) 61.1 % 60.2 % 58.3 % 61.0 % 59.3 % 1Represents anticipated proceeds from a pending insurance claim related to a third quarter 2025 solar tax credit recapture event.