HBT Financial, Inc. Announces Third Quarter 2026 Financial Results

Third Quarter Highlights Net income of $31.4 million, or $0.86 per diluted share; return on average assets (“ROAA”) of 1.85%; return on average stockholders' equity (“ROAE”) of 16.17%; and return on average tangible common equity (“ROATCE”) (1) of 19.27% Adjusted net income (1) of $31.4 million, or $0.86 per diluted share; adjusted ROAA (1) of 1.85%; adjusted ROAE (1) of 16.18%; and adjusted ROATCE (1) of 19.29% Asset quality remains strong, with nonperforming assets to total assets of 0.16% and net recoveries to average loans of 0.04%, on an annualized basis Net interest margin increased 3 basis points to 4.35%, and net interest margin (tax-equivalent basis) (1) increased 2 basis points to 4.40% BLOOMINGTON Ill., Oct. 26, 2026 (GLOBE NEWSWIRE) -- HBT Financial, Inc. (NASDAQ: HBT) (the “Company”, “HBT Financial” or “HBT”), the holding company for Heartland Bank and Trust Company, today reported net income of $31.4 million, or $0.86 diluted earnings per share, for the third quarter of 2026. This compares to net income of $27.8 million, or $0.76 diluted earnings per share, for the second quarter of 2026, and net income of $19.8 million, or $0.63 diluted earnings per share, for the third quarter of 2025. J. Lance Carter, President and Chief Executive Officer of HBT Financial, said, “Our third quarter results were very strong with adjusted net income (1) of $31.4 million, or $0.86 per diluted share, an increase of 10.1% over the prior quarter. Profitability also remained strong with adjusted ROAA (1) of 1.85% and adjusted ROATCE (1) of 19.29%. Our net interest margin on a tax equivalent basis (1) was 4.40%, an increase of 2 basis points compared to the second quarter of 2026, as maturing fixed-rate loans repriced higher and securities cash flows were reinvested at higher rates, slightly offset by a higher cost of funds and lower loan accretion income. Noninterest income was above expectations, aided by wealth management, seasonally higher mortgage income, and a nonrecurring $0.4 million excise tax refund. Expenses were well controlled during the quarter, with an efficiency ratio on a tax equivalent basis (1) of 48.24%. Asset quality also remains exceptional, with nonperforming assets to total assets of 0.16%, and net recoveries to average loans of 0.04%, on an annualized basis, during the quarter. Finally, our balance sheet remains strong with all regulatory capital ratios increasing during the quarter, including a common equity tier 1 capital ratio of 12.94% and total capital to risk-weighted assets ratio of 16.48%. Integration planning for the acquisition of Tri-County Financial Group, Inc. is progressing well, and we anticipate this transaction closing early in the first quarter of 2027, subject to their stockholder approval and regulatory approvals. We have been very impressed with their people and overall organization, and we are looking forward to a successful closing.” ____________________________________ (1) See “Reconciliation of Non-GAAP Financial Measures” below for reconciliation of non-GAAP financial measures to their most closely comparable GAAP financial measures. Adjusted Net Income In addition to reporting GAAP results, the Company believes non-GAAP measures such as adjusted net income and adjusted earnings per share, which adjust for acquisition expenses, branch closure expenses, net earnings (losses) on closed or sold operations, losses on extinguishment of debt, gains (losses) on closed branch premises, realized gains (losses) on sales of securities, mortgage servicing rights (“MSR”) fair value adjustments, and the tax effect of these pre-tax adjustments, provide investors with additional insight into its operational performance. The Company reported adjusted net income of $31.4 million, or $0.86 adjusted diluted earnings per share, for the third quarter of 2026. This compares to adjusted net income of $28.5 million, or $0.78 adjusted diluted earnings per share, for the second quarter of 2026, and adjusted net income of $20.5 million, or $0.65 adjusted diluted earnings per share, for the third quarter of 2025. See “Reconciliation of Non-GAAP Financial Measures” tables below for reconciliation of non-GAAP financial measures to their most closely comparable GAAP financial measures. Pending Acquisition of Tri-County Financial Group, Inc. and Completed Transaction with CNB Bank Shares, Inc. On August 10, 2026, HBT Financial and Tri-County Financial Group, Inc. (“TYFG” or “Tri-County”), the holding company for First State Bank (“FSB”), jointly announced the signing of a definitive agreement pursuant to which HBT Financial will acquire TYFG and FSB. The acquisition will increase HBT Financial’s density in its central Illinois and Chicago MSA markets. The transaction is expected to close early in the first quarter of 2027, subject to their stockholder approval and regulatory approvals. CNB Bank Shares, Inc. (“CNB”) and TYFG acquisition-related expenses during the second and third quarter of 2026 and during the nine months ended September 30, 2026 are summarized below. There were no acquisition-related expenses during the third quarter of 2025 or during the nine months ended September 30, 2025. Three Months Ended Nine Months Ended (dollars in thousands) September 30, 2026 June 30, 2026 September 30, 2025 September 30, 2026 September 30, 2025 Salaries $ 58 $ (44 ) $ — $ 4,017 $ — Occupancy of bank premises — 13 — 118 — Furniture and equipment — 9 — 72 — Data processing 260 91 — 9,019 — Marketing and customer relations — 5 — 74 — Loan collection and servicing — 28 — 348 — Professional fees and other noninterest expense 687 155 — 3,280 — Total acquisition-related expenses $ 1,005 $ 257 $ — $ 16,928 $ — Net Interest Income and Net Interest Margin Net interest income for the third quarter of 2026 was $70.3 million, an increase of 1.8% from $69.1 million for the second quarter of 2026. The increase was primarily attributable to higher yields on loans and higher average loan balances. A $0.5 million increase in loan fees and a $0.2 million increase in nonaccrual interest recoveries further contributed to the overall increase. Partially offsetting these increases were an $0.8 million decrease in acquired loan discount accretion, which totaled $1.3 million for the third quarter of 2026, and higher funding costs. Relative to the third quarter of 2025, net interest income increased 40.7% from $50.0 million. The increase was primarily attributable to higher average interest-earning asset balances following the CNB merger and improved yields on debt securities and loans. Additionally, a $0.4 million increase in acquired loan discount accretion, a $0.4 million increase in loan fees, and a $0.3 million increase in nonaccrual interest recoveries further contributed to the improvement. Net interest margin for the third quarter of 2026 was 4.35%, compared to 4.32% for the second quarter of 2026, while net interest margin (tax-equivalent basis) (1) for the third quarter of 2026 was 4.40%, compared to 4.38% for the second quarter of 2026. These increases were primarily attributable to improved yields on loans, which increased 5 basis points to 6.43%. These increases were partially offset by higher funding costs, which increased 4 basis points to 1.36%, driven primarily by increases in benchmark interest rates. Relative to the third quarter of 2025, net interest margin increased 22 basis points from 4.13% and net interest margin (tax-equivalent basis) (1) increased 22 basis points from 4.18%. These increases were primarily attributable to improved yields on debt securities and loans as well as a more favorable interest-earning asset mix, which were partially offset by higher funding costs. ____________________________________ (1) See “Reconciliation of Non-GAAP Financial Measures” below for reconciliation of non-GAAP financial measures to their most closely comparable GAAP financial measures. Noninterest Income Noninterest income for the third quarter of 2026 was $14.2 million, a 20.2% increase from $11.8 million for the second quarter of 2026. The increase was primarily attributable to changes in the MSR fair value adjustment, with a $1.5 million positive MSR fair value adjustment included in the third quarter of 2026 results compared to an $0.8 million negative MSR fair value adjustment included in the second quarter of 2026 results. Additionally, a $0.4 million nonrecurring refund of stock repurchase excise tax as a result of a change in tax regulation included in other noninterest income contributed to the improvement. Relative to the third quarter of 2025, noninterest income increased 44.6% from $9.8 million. The increase was primarily attributable to changes in the MSR fair value adjustment, with a $1.5 million positive MSR fair value adjustment included in the third quarter of 2026 results compared to a $0.5 million negative MSR fair value adjustment included in the third quarter of 2025 results. Additionally, an $0.8 million increase in wealth management fees, a $0.6 million increase in service charges on deposit accounts, and a $0.5 million increase in card income, all primarily driven by a larger customer base following the CNB merger, contributed to the increase. Noninterest Expense Noninterest expense for the third quarter of 2026 was $42.7 million, a 0.5% increase from the second quarter of 2026. Acquisition-related noninterest expenses totaled $1.0 million during the third quarter of 2026, compared to $0.3 million during the second quarter of 2026. Excluding acquisition-related expenses, noninterest expense for the third quarter of 2026 was $41.7 million, a $0.5 million decrease from the second quarter of 2026. The decrease was primarily attributable to a $1.1 million decrease in salaries expense, which was partially offset by a $0.4 million increase in occupancy expense, primarily due to planned building maintenance and upgrades, and a $0.3 million increase in employee benefits expense, driven by higher medical benefits costs. Relative to the third quarter of 2025, noninterest expense increased 31.2% from $32.5 million. Excluding acquisition-related expenses, the $9.2 million increase in noninterest expense was primarily attributable to higher base costs following the CNB merger, including a $5.8 million increase in salaries and employee benefits expenses, which were also driven higher by annual merit increases and higher medical benefits costs, as well as increases in occupancy, data processing, and marketing expenses. Loan Portfolio Total loans outstanding, before allowance for credit losses, were $4.78 billion at September 30, 2026, compared with $4.75 billion at June 30, 2026, and $3.40 billion at September 30, 2025. The $30.3 million increase from June 30, 2026 was primarily due to new fundings and draws on existing loans within the construction and land development category, partially offset by seasonal reductions of $8.8 million on grain elevator lines within the commercial and industrial category, as well as several payoffs due to refinance within the multifamily category. Deposits Total deposits were $5.75 billion at September 30, 2026, compared with $5.76 billion at June 30, 2026, and $4.35 billion at September 30, 2025. The $5.6 million decrease from June 30, 2026 was primarily attributable to lower balances maintained in existing retail accounts and seasonally lower public funds balances, which were partially offset by an increase in business account balances. Additionally, $60.0 million of wealth management customer reciprocal deposits were moved on-balance sheet during the third quarter of 2026. Asset Quality Nonperforming assets totaled $10.8 million, or 0.16% of total assets, at September 30, 2026, compared with $9.9 million, or 0.15% of total assets, at June 30, 2026, and $8.6 million, or 0.17% of total assets, at September 30, 2025. The majority of the $0.9 million increase in nonperforming assets from June 30, 2026 was attributable to increases in nonaccrual loan balances in the one-to-four family residential category. Additionally, of the $10.1 million of nonperforming loans held as of September 30, 2026, $2.4 million were either wholly or partially guaranteed by the U.S. government. The Company recorded a negative provision for credit losses of $0.6 million for the third quarter of 2026. The negative provision for credit losses primarily reflects a $1.9 million decrease in required reserves driven by changes within the portfolio, which included net recoveries of $0.5 million; a $0.6 million decrease in required reserves driven by changes in the economic forecast; a $0.1 million decrease in specific reserves; and a $2.0 million increase in required reserves resulting from changes in qualitative factors. The Company had net recoveries of $0.5 million, or 0.04% of average loans on an annualized basis, for the third quarter of 2026, compared to net recoveries of $0.1 million, or 0.01% of average loans on an annualized basis, for the second quarter of 2026, and net charge-offs of $0.1 million, or 0.02% of average loans on an annualized basis, for the third quarter of 2025. The Company’s allowance for credit losses was 1.26% of total loans and 599% of nonperforming loans at September 30, 2026, compared with 1.27% of total loans and 666% of nonperforming loans at June 30, 2026. In addition, the allowance for credit losses on unfunded lending-related commitments totaled $6.6 million as of September 30, 2026, compared with $6.6 million as of June 30, 2026. Capital As of September 30, 2026, the Company exceeded all regulatory capital requirements under Basel III as summarized in the following table: September 30, 2026 For Capital Adequacy Purposes With Capital Conservation Buffer Total capital to risk-weighted assets 16.48 % 10.50 % Tier 1 capital to risk-weighted assets 13.88 8.50 Common equity tier 1 capital ratio 12.94 7.00 Tier 1 leverage ratio 11.33 4.00 The ratio of tangible common equity to tangible assets (1) decreased to 9.56% as of September 30, 2026, from 9.69% as of June 30, 2026, and tangible book value per share (1) decreased by $0.26 to $17.34 as of September 30, 2026, when compared to June 30, 2026. The decrease in tangible book value per share was primarily driven by a decrease in accumulated other comprehensive income as a result of higher net unrealized losses on available-for-sale debt securities as market interest rates increased during the quarter. During the third quarter of 2026, the Company did not repurchase shares of its common stock under its stock repurchase program. The Company is currently subject to a blackout period restricting repurchases of its common stock, which will remain in effect until the conclusion of the TYFG stockholder vote on the proposed merger scheduled for October 29, 2026. The Company’s Board of Directors has authorized the repurchase of up to $30.0 million of HBT Financial common stock under its stock repurchase program, which is in effect until January 1, 2027. As of September 30, 2026, the Company had $14.0 million remaining under the stock repurchase program. ____________________________________ (1) See “Reconciliation of Non-GAAP Financial Measures” below for reconciliation of non-GAAP financial measures to their most closely comparable GAAP financial measures. About HBT Financial, Inc. HBT Financial, Inc., headquartered in Bloomington, Illinois, is the holding company for Heartland Bank and Trust Company, and has banking roots that can be traced back to 1920. HBT Financial provides a comprehensive suite of financial products and services to consumers, businesses, and municipal entities throughout Illinois, eastern Iowa, and suburban St. Louis through 83 full-service branches. As of September 30, 2026, HBT Financial had total assets of $6.7 billion, total loans of $4.8 billion, and total deposits of $5.8 billion. Non-GAAP Financial Measures Some of the financial measures included in this press release are not measures of financial performance recognized in accordance with GAAP. These non-GAAP financial measures include adjusted net income, adjusted earnings per share, adjusted ROAA, pre-provision net revenue, pre-provision net revenue less charge-offs (recoveries), adjusted pre-provision net revenue, adjusted pre-provision net revenue less charge-offs (recoveries), net interest income (tax-equivalent basis), net interest margin (tax-equivalent basis), efficiency ratio (tax-equivalent basis), adjusted efficiency ratio (tax-equivalent basis), the ratio of tangible common equity to tangible assets, tangible book value per share, adjusted ROAE, ROATCE, and adjusted ROATCE. Our management uses these non-GAAP financial measures, together with the related GAAP financial measures, in its analysis of our performance and in making business decisions. Management believes that it is a standard practice in the banking industry to present these non-GAAP financial measures, and accordingly believes that providing these measures may be useful for peer comparison purposes. These disclosures should not be viewed as substitutes for the results determined to be in accordance with GAAP; nor are they necessarily comparable to non-GAAP financial measures that may be presented by other companies. See our reconciliation of non-GAAP financial measures to their most directly comparable GAAP financial measures in the “Reconciliation of Non-GAAP Financial Measures” tables. Forward-Looking Statements Readers should note that in addition to the historical information contained herein, this press release contains, and future oral and written statements of the Company and its management may contain, “forward-looking statements” within the meanings of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements generally can be identified by the use of forward-looking terminology such as “will,” “propose,” “may,” “plan,” “seek,” “expect,” “intend,” “estimate,” “anticipate,” “believe,” “continue,” or “should,” or similar terminology and the negative forms of such words. Any forward-looking statements presented herein are made only as of the date of this press release, and the Company does not undertake any obligation to update or revise any forward-looking statements to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise. Factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to: (1) the strength of the local, state, national and international economies and financial markets (including effects of inflationary pressures, global energy market conditions, the threat or implementation of tariffs, immigration enforcement and changes in foreign policy); (2) policy changes in, and the interpretation and prioritization of, local, state and federal laws, regulations and governmental policies, including executive orders; (3) the economic impact of any future terrorist threats and attacks, widespread disease or pandemics, acts of war or other threats thereof (including the Russian invasion of Ukraine, ongoing conflicts in the Middle East, and other international military conflicts that can increase levels of political and economic unpredictability, contribute to rising energy and commodity prices, affect global supply chains, increase the volatility of financial markets, and other matters beyond our control), and the response of the local, state and national governments to any such adverse external events; (4) new and revised accounting policies and practices, as may be adopted by state and federal regulatory banking agencies, the Financial Accounting Standards Board or the Public Company Accounting Oversight Board; (5) the imposition of tariffs or other governmental policies impacting the value of products produced by the Company's commercial borrowers; (6) changes in interest rates, including as a result of the recent increase in the benchmark federal funds rate by the Federal Reserve, and prepayment rates of the Company’s assets; (7) increased competition in the financial services sector, including from non-bank competitors such as credit unions, private credit firms, fintech companies, and digital asset service providers, and the inability to attract new customers; (8) technological changes implemented by us and other parties, including our third-party vendors, which may have unforeseen consequences to us and our customers; (9) emerging issues related to the development and use of artificial intelligence that could give rise to legal or regulatory action, damage our reputation or otherwise materially harm our business or customers; (10) unexpected results of acquisitions, which may include failure to realize the anticipated benefits of acquisitions and the possibility that transaction costs may be greater than anticipated, including the acquisition of CNB; (11) the loss of key executives and employees, talent shortages and employee turnover; (12) changes in consumer spending; (13) unexpected outcomes or costs of existing or new litigation or other legal proceedings and regulatory actions involving the Company; (14) the economic impact on the Company and its customers of climate change, natural disasters and of exceptional weather occurrences such as tornadoes, floods and blizzards; (15) fluctuations in the value of securities held in our securities portfolio, including as a result of changes in interest rates; (16) credit risks and risks from concentrations (by type of borrower, geographic area, collateral and industry) within our loan portfolio (including commercial real estate loans) and large loans to certain borrowers; (17) the overall health of the local and national real estate market; (18) the ability to maintain an adequate level of allowance for credit losses on loans; (19) the concentration of large deposits from certain clients who have balances above current FDIC insurance limits and who may withdraw deposits to diversify their exposure; (20) the availability of future equity and debt issuances and other capital raising opportunities on favorable terms; (21) the ability to successfully manage liquidity risk, which may increase dependence on non-core funding sources such as brokered deposits, and may negatively impact the Company’s cost of funds; (22) the level of nonperforming assets on our balance sheet; (23) interruptions involving our information technology and communications systems or those of our third-party servicers; (24) the occurrence of fraudulent activity, breaches or failures of our third-party vendors’ information security controls or cybersecurity-related incidents, including as a result of sophisticated attacks using artificial intelligence and similar tools or as a result of insider fraud; (25) the effectiveness of the Company’s risk management framework; (26) the possibility that stockholders of TYFG may not approve the merger agreement; (27) the risk that a condition to closing of the proposed transaction may not be satisfied, that either party may terminate the merger agreement or that the closing of the proposed transaction might be delayed or not occur at all; (28) potential adverse reactions or changes to business or employee relationships, including those resulting from the announcement or completion of the proposed transaction; (29) the diversion of management time on transaction-related issues; (30) the ultimate timing, outcome and results of integrating the operations of TYFG into those of HBT; (31) the effects of the merger in HBT’s future financial condition, results of operations, strategy and plans; (32) regulatory approvals of the transaction; and (33) the ability of the Company to manage the risks associated with the foregoing as well as anticipated. Readers should note that the forward-looking statements included in this press release are not a guarantee of future events, and that actual events may differ materially from those made in or suggested by the forward-looking statements. Additional information concerning the Company and its business, including additional factors that could materially affect the Company’s financial results, is included in the Company’s filings with the Securities and Exchange Commission. Important Information and Where to Find It In connection with the proposed Tri-County transaction, HBT Financial has filed and will file materials with the SEC, including a Registration Statement on Form S-4 of HBT Financial that included a proxy statement of Tri-County and a prospectus of HBT Financial. The Registration Statement has been declared effective by the SEC, and on or about September 18, 2026, HBT Financial and Tri-County mailed a definitive proxy statement/prospectus to the stockholders of Tri-County in connection with its special meeting of stockholders to be held on October 29, 2026. This news release is not a substitute for the proxy statement/prospectus or the Registration Statement or for any other document that HBT Financial and Tri-County may file with the SEC and send to Tri-County’s stockholders in connection with the proposed transaction. TRI-COUNTY’S STOCKHOLDERS ARE URGED TO CAREFULLY AND THOROUGHLY READ THE PROXY STATEMENT/PROSPECTUS AND THE REGISTRATION STATEMENT, AS MAY BE AMENDED OR SUPPLEMENTED FROM TIME TO TIME, AND OTHER RELEVANT DOCUMENTS FILED BY HBT FINANCIAL AND TRI-COUNTY WITH THE SEC, BECAUSE THEY CONTAIN IMPORTANT INFORMATION ABOUT HBT FINANCIAL, TRI-COUNTY, THE PROPOSED TRANSACTION, THE RISKS RELATED THERETO AND RELATED MATTERS. Investors may obtain free copies of the Registration Statement and the definitive proxy statement/prospectus, as each may be amended from time to time, and other relevant documents filed by HBT Financial and Tri-County with the SEC (when they become available), through the website maintained by the SEC at www.sec.gov. Copies of documents filed with the SEC by HBT Financial are available free of charge from HBT Financial’s website at https://ir.hbtfinancial.com or by contacting HBT Financial’s Investor Relations Department at HBTIR@hbtbank.com. Copies of documents filed with the SEC by Tri-County are not available on Tri-County’s website, but will be provided free of charge upon request. To request such documents, please call (815) 538-2265. Participants in the Proxy Solicitation HBT Financial, Tri-County and their respective directors and certain of their executive officers and other members of management and employees may be deemed, under SEC rules, to be participants in the solicitation of proxies from Tri-County’s stockholders in connection with the proposed transaction. Information regarding the executive officers and directors of HBT Financial is included in its definitive proxy statement for its 2026 annual meeting filed with the SEC on April 8, 2026. Information regarding the executive officers and directors of Tri-County and additional information regarding the persons who may be deemed participants and their direct and indirect interests, by security holdings or otherwise, is set forth in the Registration Statement and definitive proxy statement/prospectus filed, and other materials when they are filed, with the SEC in connection with the proposed transaction. Free copies of these documents may be obtained as described in the paragraphs above. No Offer or Solicitation Communications in this news release do not constitute an offer to sell or the solicitation of an offer to subscribe for or buy any securities or a solicitation of any vote or approval with respect to the proposed transaction or otherwise, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. CONTACT: Peter Chapman HBTIR@hbtbank.com (309) 664-4556 HBT Financial, Inc. Unaudited Consolidated Financial Summary As of or for the Three Months Ended Nine Months Ended September 30, (dollars in thousands, except per share data) September 30, 2026 June 30, 2026 September 30, 2025 2026 2025 Interest and dividend income $ 90,662 $ 88,583 $ 64,336 $ 251,084 $ 191,393 Interest expense 20,341 19,527 14,350 55,320 43,041 Net interest income 70,321 69,056 49,986 195,764 148,352 Provision for credit losses (561 ) 676 596 (41 ) 1,698 Net interest income after provision for credit losses 70,882 68,380 49,390 195,805 146,654 Noninterest income 14,237 11,841 9,849 37,022 28,295 Noninterest expense 42,663 42,446 32,508 137,546 96,357 Income before income tax expense 42,456 37,775 26,731 95,281 78,592 Income tax expense 11,064 9,931 6,966 24,845 20,522 Net income $ 31,392 $ 27,844 $ 19,765 $ 70,436 $ 58,070 Earnings per share - diluted $ 0.86 $ 0.76 $ 0.63 $ 1.99 $ 1.84 Adjusted net income (1) $ 31,411 $ 28,535 $ 20,452 $ 82,556 $ 59,508 Adjusted earnings per share - diluted (1) 0.86 0.78 0.65 2.33 1.88 Book value per share $ 20.74 $ 21.03 $ 19.05 Tangible book value per share (1) 17.34 17.60 16.64 Shares of common stock outstanding 36,365,612 36,365,612 31,455,803 Weighted average shares of common stock outstanding, including all dilutive potential shares 36,489,423 36,466,688 31,587,935 35,430,418 31,628,929 SUMMARY RATIOS Net interest margin * 4.35 % 4.32 % 4.13 % 4.30 % 4.13 % Net interest margin (tax-equivalent basis) * (1)(2) 4.40 4.38 4.18 4.35 4.18 Efficiency ratio 48.73 % 50.67 % 53.17 % 57.46 % 53.37 % Efficiency ratio (tax-equivalent basis) (1)(2) 48.24 50.14 52.68 56.88 52.88 Loan to deposit ratio 83.14 % 82.54 % 78.21 % Return on average assets * 1.85 % 1.66 % 1.56 % 1.47 % 1.54 % Return on average stockholders' equity * 16.17 14.73 13.31 12.84 13.57 Return on average tangible common equity * (1) 19.27 17.69 15.28 15.23 15.66 Adjusted return on average assets * (1) 1.85 % 1.70 % 1.61 % 1.73 % 1.58 % Adjusted return on average stockholders' equity * (1) 16.18 15.09 13.77 15.05 13.90 Adjusted return on average tangible common equity * (1) 19.29 18.13 15.81 17.85 16.05 CAPITAL Total capital to risk-weighted assets 16.48 % 16.20 % 16.77 % Tier 1 capital to risk-weighted assets 13.88 13.59 15.67 Common equity tier 1 capital ratio 12.94 12.64 14.35 Tier 1 leverage ratio 11.33 11.01 12.16 Total stockholders' equity to total assets 11.22 11.37 11.90 Tangible common equity to tangible assets (1) 9.56 9.69 10.56 ASSET QUALITY Net charge-offs (recoveries) to average loans * (0.04) % (0.01) % 0.02 % 0.00 % 0.06 % Allowance for credit losses to loans, before allowance for credit losses 1.26 1.27 1.23 Nonperforming loans to loans, before allowance for credit losses 0.21 0.19 0.22 Nonperforming assets to total assets 0.16 0.15 0.17 ____________________________________ * Annualized measure. (1) See “Reconciliation of Non-GAAP Financial Measures” below for reconciliation of non-GAAP financial measures to their most closely comparable GAAP financial measures. (2) On a tax-equivalent basis assuming a federal income tax rate of 21% and a state income tax rate of 9.5%. HBT Financial, Inc. Unaudited Consolidated Financial Summary Consolidated Statements of Income Three Months Ended Nine Months Ended September 30, (dollars in thousands, except per share data) September 30, 2026 June 30, 2026 September 30, 2025 2026 2025 INTEREST AND DIVIDEND INCOME Loans, including fees: Taxable $ 75,894 $ 73,668 $ 52,818 $ 208,443 $ 159,343 Federally tax exempt 1,501 1,539 1,245 4,357 3,628 Debt securities: Taxable 11,359 11,167 8,320 32,070 22,690 Federally tax exempt 1,045 1,001 459 2,704 1,385 Interest-bearing deposits in bank 735 1,024 1,350 3,035 3,959 Other interest and dividend income 128 184 144 475 388 Total interest and dividend income 90,662 88,583 64,336 251,084 191,393 INTEREST EXPENSE Deposits 18,122 17,253 12,995 49,484 38,769 Securities sold under agreements to repurchase — 14 — 30 22 Borrowings 126 170 31 505 170 Subordinated notes 1,233 1,245 387 2,756 1,326 Junior subordinated debentures issued to capital trusts 860 845 937 2,545 2,754 Total interest expense 20,341 19,527 14,350 55,320 43,041 Net interest income 70,321 69,056 49,986 195,764 148,352 PROVISION FOR CREDIT LOSSES (561 ) 676 596 (41 ) 1,698 Net interest income after provision for credit losses 70,882 68,380 49,390 195,805 146,654 NONINTEREST INCOME Card income 3,247 3,428 2,732 9,426 8,077 Wealth management fees 3,943 3,917 3,122 11,624 8,789 Service charges on deposit accounts 2,680 2,489 2,093 7,329 5,952 Mortgage servicing 1,111 1,143 1,019 3,237 3,051 Mortgage servicing rights fair value adjustment 1,460 (751 ) (514 ) 906 (1,573 ) Gains on sale of mortgage loans 550 412 390 1,293 1,101 Realized gains (losses) on sales of securities (184 ) — (49 ) (184 ) (49 ) Unrealized gains (losses) on equity securities (71 ) 191 (67 ) 8 (36 ) Gains (losses) on foreclosed assets (67 ) (129 ) 148 (156 ) 175 Gains (losses) on other assets (62 ) (2 ) (14 ) (274 ) (88 ) Income on bank owned life insurance 229 206 169 623 500 Other noninterest income 1,401 937 820 3,190 2,396 Total noninterest income 14,237 11,841 9,849 37,022 28,295 NONINTEREST EXPENSE Salaries 20,988 21,981 16,351 66,030 49,856 Employee benefits 4,493 4,185 3,314 12,598 10,179 Occupancy of bank premises 3,933 3,509 2,826 10,566 7,922 Furniture and equipment 861 931 737 2,400 1,757 Data processing 4,130 3,763 2,791 19,687 8,195 Marketing and customer relations 1,222 1,386 1,035 3,752 3,199 Amortization of intangible assets 1,455 1,455 694 3,797 2,083 Loss on extinguishment of debt — — 391 — 391 FDIC insurance 723 677 561 1,988 1,674 Loan collection and servicing 640 555 264 1,891 1,007 Foreclosed assets 43 40 62 143 134 Other noninterest expense 4,175 3,964 3,482 14,694 9,960 Total noninterest expense 42,663 42,446 32,508 137,546 96,357 INCOME BEFORE INCOME TAX EXPENSE 42,456 37,775 26,731 95,281 78,592 INCOME TAX EXPENSE 11,064 9,931 6,966 24,845 20,522 NET INCOME $ 31,392 $ 27,844 $ 19,765 $ 70,436 $ 58,070 EARNINGS PER SHARE - BASIC $ 0.86 $ 0.77 $ 0.63 $ 1.99 $ 1.84 EARNINGS PER SHARE - DILUTED $ 0.86 $ 0.76 $ 0.63 $ 1.99 $ 1.84 WEIGHTED AVERAGE SHARES OF COMMON STOCK OUTSTANDING 36,365,612 36,373,749 31,481,135 35,318,125 31,525,247 HBT Financial, Inc. Unaudited Consolidated Financial Summary Consolidated Balance Sheets (dollars in thousands) September 30, 2026 June 30, 2026 September 30, 2025 ASSETS Cash and due from banks $ 28,860 $ 28,634 $ 21,767 Interest-bearing deposits with banks 97,400 103,616 133,366 Cash and cash equivalents 126,260 132,250 155,133 Interest-bearing time deposits with banks — 245 — Debt securities available-for-sale, at fair value 1,065,551 1,085,908 793,730 Debt securities held-to-maturity 417,491 443,042 466,565 Equity securities with readily determinable fair value 3,475 3,546 3,279 Equity securities with no readily determinable fair value 6,671 6,438 2,609 Restricted stock, at cost 6,000 6,000 4,979 Loans held for sale 2,980 3,857 1,432 Loans, before allowance for credit losses 4,782,743 4,752,418 3,400,029 Allowance for credit losses (60,475 ) (60,564 ) (41,900 ) Loans, net of allowance for credit losses 4,722,268 4,691,854 3,358,129 Bank owned life insurance 38,112 37,883 24,489 Bank premises and equipment, net 91,606 91,418 69,965 Bank premises held for sale 276 337 — Foreclosed assets 656 766 1,007 Goodwill 81,949 81,949 59,820 Intangible assets, net 41,403 42,858 15,760 Mortgage servicing rights, at fair value 20,799 19,339 17,254 Investments in unconsolidated subsidiaries 1,614 1,614 1,614 Accrued interest receivable 39,427 35,082 23,575 Other assets 52,789 43,260 35,687 Total assets $ 6,719,327 $ 6,727,646 $ 5,035,027 LIABILITIES AND STOCKHOLDERS' EQUITY Liabilities Deposits: Noninterest-bearing $ 1,303,942 $ 1,313,650 $ 1,034,181 Interest-bearing 4,448,490 4,444,336 3,313,006 Total deposits 5,752,432 5,757,986 4,347,187 Federal Home Loan Bank advances 12,210 12,363 7,271 Subordinated notes 84,051 84,026 — Junior subordinated debentures issued to capital trusts 52,953 52,939 52,894 Other liabilities 63,590 55,599 28,546 Total liabilities 5,965,236 5,962,913 4,435,898 Stockholders' Equity Common stock 385 385 329 Surplus 447,557 447,030 297,992 Retained earnings 412,781 390,528 354,864 Accumulated other comprehensive income (loss) (62,949 ) (29,527 ) (27,119 ) Treasury stock at cost (43,683 ) (43,683 ) (26,937 ) Total stockholders’ equity 754,091 764,733 599,129 Total liabilities and stockholders’ equity $ 6,719,327 $ 6,727,646 $ 5,035,027 SHARES OF COMMON STOCK OUTSTANDING 36,365,612 36,365,612 31,455,803 HBT Financial, Inc. Unaudited Consolidated Financial Summary (dollars in thousands) September 30, 2026 June 30, 2026 September 30, 2025 LOANS Commercial and industrial $ 509,973 $ 525,190 $ 395,859 Commercial real estate - owner occupied 515,800 507,163 312,192 Commercial real estate - non-owner occupied 1,136,065 1,128,594 931,723 Construction and land development 476,352 429,793 269,924 Multi-family 648,969 666,586 514,801 One-to-four family residential 583,266 579,612 443,215 Agricultural and farmland 595,485 593,984 280,309 Municipal, consumer, and other 316,833 321,496 252,006 Total loans $ 4,782,743 $ 4,752,418 $ 3,400,029 (dollars in thousands) September 30, 2026 June 30, 2026 September 30, 2025 DEPOSITS Noninterest-bearing deposits $ 1,303,942 $ 1,313,650 $ 1,034,181 Interest-bearing deposits: Interest-bearing demand 1,323,535 1,351,994 1,102,815 Money market 1,071,278 1,012,207 883,327 Savings 829,297 853,993 562,149 Time 1,224,380 1,226,142 764,715 Total interest-bearing deposits 4,448,490 4,444,336 3,313,006 Total deposits $ 5,752,432 $ 5,757,986 $ 4,347,187 HBT Financial, Inc. Unaudited Consolidated Financial Summary Three Months Ended September 30, 2026 June 30, 2026 September 30, 2025 (dollars in thousands) Average Balance Interest Yield/Cost * Average Balance Interest Yield/Cost * Average Balance Interest Yield/Cost * ASSETS Loans $ 4,771,700 $ 77,395 6.43 % $ 4,731,275 $ 75,207 6.38 % $ 3,379,637 $ 54,063 6.35 % Debt securities 1,522,439 12,404 3.23 1,517,731 12,168 3.22 1,265,683 8,779 2.75 Deposits with banks 106,879 735 2.73 138,675 1,024 2.96 142,659 1,350 3.75 Other 17,807 128 2.88 17,455 184 4.20 12,540 144 4.51 Total interest-earning assets 6,418,825 $ 90,662 5.60 % 6,405,136 $ 88,583 5.55 % 4,800,519 $ 64,336 5.32 % Allowance for credit losses (60,865 ) (60,590 ) (41,711 ) Noninterest-earning assets 381,651 389,370 268,353 Total assets $ 6,739,611 $ 6,733,916 $ 5,027,161 LIABILITIES AND STOCKHOLDERS' EQUITY Liabilities Interest-bearing deposits: Interest-bearing demand $ 1,358,462 $ 2,386 0.70 % $ 1,359,038 $ 2,238 0.66 % $ 1,113,391 $ 1,676 0.60 % Money market 1,018,285 5,296 2.06 943,871 4,572 1.94 833,812 4,638 2.21 Savings 841,588 1,212 0.57 864,584 1,209 0.56 568,001 399 0.28 Time 1,222,696 9,228 2.99 1,247,241 9,234 2.97 771,360 6,282 3.23 Total interest-bearing deposits 4,441,031 18,122 1.62 4,414,734 17,253 1.57 3,286,564 12,995 1.57 Securities sold under agreements to repurchase — — — 2,492 14 2.34 6 — — Borrowings 19,701 126 2.53 24,721 170 2.76 7,256 31 1.68 Subordinated notes 84,038 1,233 5.82 84,013 1,245 5.94 32,714 387 4.69 Junior subordinated debentures issued to capital trusts 52,946 860 6.45 52,930 845 6.40 52,887 937 7.04 Total interest-bearing liabilities 4,597,716 $ 20,341 1.76 % 4,578,890 $ 19,527 1.71 % 3,379,427 $ 14,350 1.68 % Noninterest-bearing deposits 1,314,588 1,336,123 1,028,608 Noninterest-bearing liabilities 57,071 60,660 30,050 Total liabilities 5,969,375 5,975,673 4,438,085 Stockholders' Equity 770,236 758,243 589,076 Total liabilities and stockholders’ equity $ 6,739,611 $ 6,733,916 $ 5,027,161 Net interest income/Net interest margin (1) $ 70,321 4.35 % $ 69,056 4.32 % $ 49,986 4.13 % Tax-equivalent adjustment (2) 869 0.05 851 0.06 552 0.05 Net interest income (tax-equivalent basis)/ Net interest margin (tax-equivalent basis) (2) (3) $ 71,190 4.40 % $ 69,907 4.38 % $ 50,538 4.18 % Net interest rate spread (4) 3.84 % 3.84 % 3.64 % Net interest-earning assets (5) $ 1,821,109 $ 1,826,246 $ 1,421,092 Ratio of interest-earning assets to interest-bearing liabilities 1.40 1.40 1.42 Cost of total deposits 1.25 % 1.20 % 1.19 % Cost of funds 1.36 1.32 1.29 ____________________________________ * Annualized measure. (1) Net interest margin represents net interest income divided by average total interest-earning assets. (2) On a tax-equivalent basis assuming a federal income tax rate of 21% and a state income tax rate of 9.5%. (3) See “Reconciliation of Non-GAAP Financial Measures” below for reconciliation of non-GAAP financial measures to their most closely comparable GAAP financial measures. (4) Net interest rate spread represents the difference between the yield on average interest-earning assets and the cost of average interest-bearing liabilities. (5) Net interest-earning assets represents total interest-earning assets less total interest-bearing liabilities. HBT Financial, Inc. Unaudited Consolidated Financial Summary Nine Months Ended September 30, 2026 September 30, 2025 (dollars in thousands) Average Balance Interest Yield/Cost * Average Balance Interest Yield/Cost * ASSETS Loans $ 4,467,683 $ 212,800 6.37 % $ 3,419,077 $ 162,971 6.37 % Debt securities 1,472,552 34,774 3.16 1,229,388 24,075 2.62 Deposits with banks 136,230 3,035 2.98 141,216 3,959 3.75 Other 16,562 475 3.84 12,579 388 4.12 Total interest-earning assets 6,093,027 $ 251,084 5.51 % 4,802,260 $ 191,393 5.33 % Allowance for credit losses (56,651 ) (41,962 ) Noninterest-earning assets 362,291 271,193 Total assets $ 6,398,667 $ 5,031,491 LIABILITIES AND STOCKHOLDERS' EQUITY Liabilities Interest-bearing deposits: Interest-bearing demand $ 1,314,320 $ 6,555 0.67 % $ 1,119,902 $ 4,698 0.56 % Money market 956,682 14,316 2.00 818,453 13,498 2.20 Savings 793,296 3,125 0.53 568,891 1,143 0.27 Time 1,137,688 25,488 3.00 778,618 19,430 3.34 Total interest-bearing deposits 4,201,986 49,484 1.57 3,285,864 38,769 1.58 Securities sold under agreements to repurchase 1,787 30 2.27 3,361 22 0.89 Borrowings 24,403 505 2.77 9,103 170 2.49 Subordinated notes 62,846 2,756 5.86 37,261 1,326 4.76 Junior subordinated debentures issued to capital trusts 52,931 2,545 6.43 52,871 2,754 6.97 Total interest-bearing liabilities 4,343,953 $ 55,320 1.70 % 3,388,460 $ 43,041 1.70 % Noninterest-bearing deposits 1,267,702 1,039,564 Noninterest-bearing liabilities 53,632 31,242 Total liabilities 5,665,287 4,459,266 Stockholders' Equity 733,380 572,225 Total liabilities and stockholders’ equity $ 6,398,667 5,031,491 Net interest income/Net interest margin (1) $ 195,764 4.30 % $ 148,352 4.13 % Tax-equivalent adjustment (2) 2,369 0.05 1,645 0.05 Net interest income (tax-equivalent basis)/ Net interest margin (tax-equivalent basis) (2) (3) $ 198,133 4.35 % $ 149,997 4.18 % Net interest rate spread (4) 3.81 % 3.63 % Net interest-earning assets (5) $ 1,749,074 $ 1,413,800 Ratio of interest-earning assets to interest-bearing liabilities 1.40 1.42 Cost of total deposits 1.21 % 1.20 % Cost of funds 1.32 1.30 ____________________________________ (1) Net interest margin represents net interest income divided by average total interest-earning assets. (2) On a tax-equivalent basis assuming a federal income tax rate of 21% and a state income tax rate of 9.5%. (3) See "Reconciliation of Non-GAAP Financial Measures" below for reconciliation of non-GAAP financial measures to their most closely comparable GAAP financial measures. (4) Net interest rate spread represents the difference between the yield on average interest-earning assets and the cost of average interest-bearing liabilities. (5) Net interest-earning assets represents total interest-earning assets less total interest-bearing liabilities. HBT Financial, Inc. Unaudited Consolidated Financial Summary (dollars in thousands) September 30, 2026 June 30, 2026 September 30, 2025 NONPERFORMING ASSETS Nonaccrual $ 10,098 $ 9,083 $ 7,637 Past due 90 days or more, still accruing — 6 5 Total nonperforming loans 10,098 9,089 7,642 Foreclosed assets 656 766 1,007 Total nonperforming assets $ 10,754 $ 9,855 $ 8,649 Nonperforming loans that are wholly or partially guaranteed by the U.S. Government $ 2,350 $ 2,405 $ 1,760 Allowance for credit losses $ 60,475 $ 60,564 $ 41,900 Loans, before allowance for credit losses 4,782,743 4,752,418 3,400,029 CREDIT QUALITY RATIOS Allowance for credit losses to loans, before allowance for credit losses 1.26 % 1.27 % 1.23 % Allowance for credit losses to nonaccrual loans 598.88 666.78 548.64 Allowance for credit losses to nonperforming loans 598.88 666.34 548.29 Nonaccrual loans to loans, before allowance for credit losses 0.21 0.19 0.22 Nonperforming loans to loans, before allowance for credit losses 0.21 0.19 0.22 Nonperforming assets to total assets 0.16 0.15 0.17 Nonperforming assets to loans, before allowance for credit losses, and foreclosed assets 0.22 0.21 0.25 Three Months Ended Nine Months Ended September 30, (dollars in thousands) September 30, 2026 June 30, 2026 September 30, 2025 2026 2025 ALLOWANCE FOR CREDIT LOSSES Beginning balance $ 60,564 $ 60,474 $ 41,659 $ 41,690 $ 42,044 Allowance established in acquisition — — — 19,957 — Provision for credit losses (593 ) (10 ) 375 (1,018 ) 1,466 Charge-offs (552 ) (314 ) (723 ) (1,867 ) (2,640 ) Recoveries 1,056 414 589 1,713 1,030 Ending balance $ 60,475 $ 60,564 $ 41,900 $ 60,475 $ 41,900 Net charge-offs (recoveries) $ (504 ) $ (100 ) $ 134 $ 154 $ 1,610 Average loans 4,771,700 4,731,275 3,379,637 4,467,683 3,419,077 Net charge-offs (recoveries) to average loans * (0.04) % (0.01) % 0.02 % — % 0.06 % ____________________________________ * Annualized measure. Three Months Ended Nine Months Ended September 30, (dollars in thousands) September 30, 2026 June 30, 2026 September 30, 2025 2026 2025 PROVISION FOR CREDIT LOSSES Loans $ (593 ) $ (10 ) $ 375 $ (1,018 ) $ 1,466 Unfunded lending-related commitments 32 686 221 977 232 Total provision for credit losses $ (561 ) $ 676 $ 596 $ (41 ) $ 1,698 Reconciliation of Non-GAAP Financial Measures – Adjusted Net Income and Adjusted Return on Average Assets Three Months Ended Nine Months Ended September 30, (dollars in thousands) September 30, 2026 June 30, 2026 September 30, 2025 2026 2025 Net income $ 31,392 $ 27,844 $ 19,765 $ 70,436 $ 58,070 Less: adjustments Acquisition expenses (1,005 ) (257 ) — (16,928 ) — Net earnings (losses) on closed or sold operations — 47 — 51 — Loss on extinguishment of debt — — (391 ) — (391 ) Gains (losses) on closed branch premises (61 ) — (7 ) (271 ) 2 Realized gains (losses) on sales of securities (184 ) — (49 ) (184 ) (49 ) Mortgage servicing rights fair value adjustment 1,460 (751 ) (514 ) 906 (1,573 ) Total adjustments 210 (961 ) (961 ) (16,426 ) (2,011 ) Tax effect of adjustments (1) (229 ) 270 274 4,306 573 Total adjustments after tax effect (19 ) (691 ) (687 ) (12,120 ) (1,438 ) Adjusted net income $ 31,411 $ 28,535 $ 20,452 $ 82,556 $ 59,508 Average assets $ 6,739,611 $ 6,733,916 $ 5,027,161 $ 6,398,667 $ 5,031,491 Return on average assets * 1.85 % 1.66 % 1.56 % 1.47 % 1.54 % Adjusted return on average assets * 1.85 1.70 1.61 1.73 1.58 ____________________________________ * Annualized measure. (1) Assumes a federal income tax rate of 21% and a state income tax rate of 9.5%, and excludes non-deductible acquisition expenses. Reconciliation of Non-GAAP Financial Measures – Adjusted Earnings Per Share — Basic and Diluted Three Months Ended Nine Months Ended September 30, (dollars in thousands, except per share amounts) September 30, 2026 June 30, 2026 September 30, 2025 2026 2025 Numerator: Net income $ 31,392 $ 27,844 $ 19,765 $ 70,436 $ 58,070 Adjusted net income $ 31,411 $ 28,535 $ 20,452 $ 82,556 $ 59,508 Denominator: Weighted average common shares outstanding 36,365,612 36,373,749 31,481,135 35,318,125 31,525,247 Dilutive effect of outstanding restricted stock units 123,811 92,939 106,800 112,293 103,682 Weighted average common shares outstanding, including all dilutive potential shares 36,489,423 36,466,688 31,587,935 35,430,418 31,628,929 Earnings per share - basic $ 0.86 $ 0.77 $ 0.63 $ 1.99 $ 1.84 Earnings per share - diluted $ 0.86 $ 0.76 $ 0.63 $ 1.99 $ 1.84 Adjusted earnings per share - basic $ 0.86 $ 0.78 $ 0.65 $ 2.34 $ 1.89 Adjusted earnings per share - diluted $ 0.86 $ 0.78 $ 0.65 $ 2.33 $ 1.88 Reconciliation of Non-GAAP Financial Measures – Pre-Provision Net Revenue, Pre-Provision Net Revenue Less Net Charge-offs (Recoveries), Adjusted Pre-Provision Net Revenue, and Adjusted Pre-Provision Net Revenue Less Net Charge-offs (Recoveries) Three Months Ended Nine Months Ended September 30, (dollars in thousands) September 30, 2026 June 30, 2026 September 30, 2025 2026 2025 Net interest income $ 70,321 $ 69,056 $ 49,986 $ 195,764 $ 148,352 Noninterest income 14,237 11,841 9,849 37,022 28,295 Noninterest expense (42,663 ) (42,446 ) (32,508 ) (137,546 ) (96,357 ) Pre-provision net revenue 41,895 38,451 27,327 95,240 80,290 Less: adjustments Acquisition expenses (1,005 ) (257 ) — (16,928 ) — Net earnings (losses) on closed or sold operations — 47 — 51 — Loss on extinguishment of debt — — (391 ) — (391 ) Gains (losses) on closed branch premises (61 ) — (7 ) (271 ) 2 Realized gains (losses) on sales of securities (184 ) — (49 ) (184 ) (49 ) Mortgage servicing rights fair value adjustment 1,460 (751 ) (514 ) 906 (1,573 ) Total adjustments 210 (961 ) (961 ) (16,426 ) (2,011 ) Adjusted pre-provision net revenue $ 41,685 $ 39,412 $ 28,288 $ 111,666 $ 82,301 Pre-provision net revenue $ 41,895 $ 38,451 $ 27,327 $ 95,240 $ 80,290 Less: net charge-offs (recoveries) (504 ) (100 ) 134 154 1,610 Pre-provision net revenue less net charge-offs (recoveries) $ 42,399 $ 38,551 $ 27,193 $ 95,086 $ 78,680 Adjusted pre-provision net revenue $ 41,685 $ 39,412 $ 28,288 $ 111,666 $ 82,301 Less: net charge-offs (recoveries) (504 ) (100 ) 134 154 1,610 Adjusted pre-provision net revenue less net charge-offs (recoveries) $ 42,189 $ 39,512 $ 28,154 $ 111,512 $ 80,691 Reconciliation of Non-GAAP Financial Measures – Net Interest Income (Tax-equivalent Basis) and Net Interest Margin (Tax-equivalent Basis) Three Months Ended Nine Months Ended September 30, (dollars in thousands) September 30, 2026 June 30, 2026 September 30, 2025 2026 2025 Net interest income (tax-equivalent basis) Net interest income $ 70,321 $ 69,056 $ 49,986 $ 195,764 $ 148,352 Tax-equivalent adjustment (1) 869 851 552 2,369 1,645 Net interest income (tax-equivalent basis) (1) $ 71,190 $ 69,907 $ 50,538 $ 198,133 $ 149,997 Net interest margin (tax-equivalent basis) Net interest margin * 4.35 % 4.32 % 4.13 % 4.30 % 4.13 % Tax-equivalent adjustment * (1) 0.05 0.06 0.05 0.05 0.05 Net interest margin (tax-equivalent basis) * (1) 4.40 % 4.38 % 4.18 % 4.35 % 4.18 % Average interest-earning assets $ 6,418,825 $ 6,405,136 $ 4,800,519 $ 6,093,027 $ 4,802,260 ____________________________________ * Annualized measure. (1) On a tax-equivalent basis assuming a federal income tax rate of 21% and a state income tax rate of 9.5%. Reconciliation of Non-GAAP Financial Measures – Efficiency Ratio (Tax-equivalent Basis) and Adjusted Efficiency Ratio (Tax-equivalent Basis) Three Months Ended Nine Months Ended September 30, (dollars in thousands) September 30, 2026 June 30, 2026 September 30, 2025 2026 2025 Total noninterest expense $ 42,663 $ 42,446 $ 32,508 $ 137,546 $ 96,357 Less: amortization of intangible assets 1,455 1,455 694 3,797 2,083 Noninterest expense excluding amortization of intangible assets 41,208 40,991 31,814 133,749 94,274 Less: adjustments to noninterest expense Acquisition expenses 1,005 257 — 16,928 — Expenses from closed or sold operations — 124 — 273 — Loss on extinguishment of debt — — 391 — 391 Total adjustments to noninterest expense 1,005 381 391 17,201 391 Adjusted noninterest expense $ 40,203 $ 40,610 $ 31,423 $ 116,548 $ 93,883 Net interest income $ 70,321 $ 69,056 $ 49,986 $ 195,764 $ 148,352 Total noninterest income 14,237 11,841 9,849 37,022 28,295 Operating revenue 84,558 80,897 59,835 232,786 176,647 Tax-equivalent adjustment (1) 869 851 552 2,369 1,645 Operating revenue (tax-equivalent basis) (1) 85,427 81,748 60,387 235,155 178,292 Less: adjustments to noninterest income Revenue from closed or sold operations — 171 — 324 — Gains (losses) on closed branch premises (61 ) — (7 ) (271 ) 2 Realized gains (losses) on sales of securities (184 ) — (49 ) (184 ) (49 ) Mortgage servicing rights fair value adjustment 1,460 (751 ) (514 ) 906 (1,573 ) Total adjustments to noninterest income 1,215 (580 ) (570 ) 775 (1,620 ) Adjusted operating revenue (tax-equivalent basis) (1) $ 84,212 $ 82,328 $ 60,957 $ 234,380 $ 179,912 Efficiency ratio 48.73 % 50.67 % 53.17 % 57.46 % 53.37 % Efficiency ratio (tax-equivalent basis) (1) 48.24 50.14 52.68 56.88 52.88 Adjusted efficiency ratio (tax-equivalent basis) (1) 47.74 49.33 51.55 49.73 52.18 ____________________________________ (1) On a tax-equivalent basis assuming a federal income tax rate of 21% and a state income tax rate of 9.5%. Reconciliation of Non-GAAP Financial Measures – Ratio of Tangible Common Equity to Tangible Assets and Tangible Book Value Per Share (dollars in thousands, except per share data) September 30, 2026 June 30, 2026 September 30, 2025 Tangible Common Equity Total stockholders' equity $ 754,091 $ 764,733 $ 599,129 Less: Goodwill 81,949 81,949 59,820 Less: Intangible assets 41,403 42,858 15,760 Tangible common equity $ 630,739 $ 639,926 $ 523,549 Tangible Assets Total assets $ 6,719,327 $ 6,727,646 $ 5,035,027 Less: Goodwill 81,949 81,949 59,820 Less: Intangible assets 41,403 42,858 15,760 Tangible assets $ 6,595,975 $ 6,602,839 $ 4,959,447 Total stockholders' equity to total assets 11.22 % 11.37 % 11.90 % Tangible common equity to tangible assets 9.56 9.69 10.56 Shares of common stock outstanding 36,365,612 36,365,612 31,455,803 Book value per share $ 20.74 $ 21.03 $ 19.05 Tangible book value per share 17.34 17.60 16.64 Reconciliation of Non-GAAP Financial Measures – Return on Average Tangible Common Equity, Adjusted Return on Average Stockholders' Equity and Adjusted Return on Average Tangible Common Equity Three Months Ended Nine Months Ended September 30, (dollars in thousands) September 30, 2026 June 30, 2026 September 30, 2025 2026 2025 Average Tangible Common Equity Total stockholders' equity $ 770,236 $ 758,243 $ 589,076 $ 733,380 $ 572,225 Less: Goodwill 81,949 83,487 59,820 77,855 59,820 Less: Intangible assets 42,109 43,604 16,095 37,094 16,781 Average tangible common equity $ 646,178 $ 631,152 $ 513,161 $ 618,431 $ 495,624 Net income $ 31,392 $ 27,844 $ 19,765 $ 70,436 $ 58,070 Adjusted net income 31,411 28,535 20,452 82,556 59,508 Return on average stockholders' equity * 16.17 % 14.73 % 13.31 % 12.84 % 13.57 % Return on average tangible common equity * 19.27 17.69 15.28 15.23 15.66 Adjusted return on average stockholders' equity * 16.18 % 15.09 % 13.77 % 15.05 % 13.90 % Adjusted return on average tangible common equity * 19.29 18.13 15.81 17.85 16.05 ____________________________________ * Annualized measure.