Track market-moving stories before they get noisy

NEW YORK CITY & NEW ORLEANS--(BUSINESS WIRE)--Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC (“KSF”) are investigating the proposed sale of Finward Bancorp (NasdaqCM: FNWD) to First Financial Bancorp. (NasdaqGS: FFBC). Under the terms of the proposed transaction, shareholders of Finward will receive 1.35 shares of First Financial for each share of Finward that they own. KSF is seeking to determine whether this consideration and the.

WHITE PLAINS, N.Y., July 24, 2026 (GLOBE NEWSWIRE) -- NorthEast Community Bancorp, Inc. (Nasdaq: NECB) (the “Company”), the parent holding company of NorthEast Community Bank (the “Bank”), reported net income of $9.8 million, or $0.75 per basic share and $0.72 per diluted share, for the three months ended June 30, 2026 compared to net income of $11.2 million, or $0.85 per basic share and $0.82 per diluted share, for the three months ended June 30, 2025.

Amerant Bancorp NYSE: AMTB reported higher second-quarter earnings as growth in low-cost international deposits supported loan and securities balances, while the company continued to reduce criticized credit exposures and outlined plans for further loan, deposit and profitability growth through year-end.

Diluted earnings per share rose to $0.53 in the second quarter of 2026 from $0.44 in the first quarter. Net interest income increased to $82.6 million from $80.3 million, while net income, return on assets and return on equity improved, according to Chief Financial Officer Sharymar Calderón.

Get Amerant Bancorp alerts:

Return on assets rose to 0.84% from 0.73% in the prior quarter, and return on equity increased to 9.23% from 7.63%. Amerant’s efficiency ratio improved modestly to 68.37% from 68.52%.

Deposits Drive Balance-Sheet Growth Total assets increased to $10.3 billion at June 30 from $9.9 billion at the end of the first quarter. Total deposits rose by $416 million to $8.4 billion, principally because of international deposit growth. Gross loans increased by $112 million to $6.9 billion, led by commercial and industrial lending and residential mortgages, partly offset by commercial prepayments, loan sales and strategic exits.

President and CEO Carlos Iafigliola said the company is emphasizing Florida loan growth, more granular C&I production and selected residential mortgage lending. Amerant does not take credit risk outside the U.S. and uses its international funding to support domestic lending, Calderón said.

International deposits, particularly from Venezuela, were a major source of the quarter’s funding growth. Iafigliola said Venezuelan deposits rose by nearly $500 million from the first quarter, citing the company’s brand recognition, established client relationships and banking relationships in the country.

In response to an analyst question, Iafigliola said the deposits are largely tied to oil production and include institutional balances that are ultimately redeployed into commercial and personal accounts. He said Amerant views the deposits as relatively sticky, while noting the company will manage concentration, compliance and pricing discipline as balances grow.

The higher proportion of lower-cost deposits reduced Amerant’s total deposit cost to 2.21% from 2.31% in the prior quarter, while its cost of funds declined to 2.38% from 2.47%. Net interest margin edged down to 3.52% from 3.55%, however, as lower loan yields offset much of the benefit from reduced funding costs.

Management said competitive pricing for high-quality loans has narrowed new-loan spreads. Iafigliola said Amerant previously originated some loans at spreads above 200 basis points over SOFR, but competition for the asset classes now targeted by the bank has tightened pricing. The company expects net interest margin of about 3.50% for the remainder of 2026.

Credit Optimization Continues Management described credit transformation as its highest strategic priority. During the quarter, Amerant revised credit policies and procedures, including approval authorities and product programs, and completed a revamp of its loan-origination stage.

The bank also continued to exit selected exposures, loans outside its footprint and criticized credits. Nonperforming loans declined by $5 million, or 2.8%, to $171 million, equal to 1.7% of total assets. After the quarter closed, a $9 million New York commercial real estate loan was repaid, reducing nonperforming loans to $162 million, Calderón said.

Loan payoffs totaled $24 million and loan sales totaled about $40 million within the classified portfolio during the quarter. Special mention loans, classified loans and nonperforming loans all declined, according to the company.

The provision for credit losses fell to $4.8 million from $7.8 million in the first quarter, reflecting lower needs for specific reserves and higher recoveries, partially offset by loan growth and macroeconomic adjustments. Gross charge-offs were $5.5 million, mainly associated with two commercial loans, and were offset by $4 million in recoveries. Amerant expects gross charge-offs of 25 to 30 basis points, potentially offset by recoveries from workout efforts.

Iafigliola said future growth will be concentrated mainly in C&I lending, with a smaller contribution from residential lending. The bank remains selective in commercial real estate as it continues to address classified and nonperforming CRE assets. He said the bank’s typical target transaction size is near $30 million, with larger loans generally reserved for selected top-tier customers or especially stable properties and projects.

Expenses, Capital Returns and Outlook Noninterest expense increased 2.9% sequentially to $68.9 million, driven by higher variable compensation, vendor costs and the final portion of a terminated sports partnership agreement. Those increases were partly offset by the absence of investment impairment expense recorded in the first quarter and lower losses on loans held for sale.

Amerant expects third-quarter expenses to be in line with the second quarter, followed by fourth-quarter expenses of $66 million to $67 million. The company is targeting an efficiency ratio of approximately 60% and said it identified additional cost-saving initiatives expected to materialize in the fourth quarter. Management also said it has identified artificial intelligence use cases intended to improve productivity.

For the fourth quarter, Amerant expects total loans of about $7.3 billion and deposits of about $9.1 billion. Management said it expects to reach a 1% return on assets by year-end, with net interest income expected to be the largest contributor.

Common equity tier 1 capital rose to 11.94% from 11.84% in the first quarter, aided by lower risk-weighted assets and quarterly earnings. The company repurchased 690,000 shares during the quarter at a weighted average price of $23.29 per share, or about one times tangible book value, and paid a $0.09 quarterly common dividend. Its board approved another $0.09 per-share dividend payable Aug. 28.

Management said the bank expects to remain above $10 billion in assets by year-end and believes costs associated with crossing that threshold are largely incorporated into its current expense run rate. The company said it expects only modest additional technology investments in 2027 while seeking to maintain expenses near anticipated fourth-quarter levels.

About Amerant Bancorp (NYSE:AMTB)Amerant Bancorp is the bank holding company and parent of Amerant Bank, a community-oriented financial institution headquartered in Coral Gables, Florida. Amerant Bank delivers a comprehensive range of deposit and lending products to both retail and commercial clients, including checking and savings accounts, certificates of deposit, consumer mortgages, and business lines of credit. In addition, the company offers specialized services such as treasury management, international trade finance, foreign exchange, and asset-based lending to support the complex needs of corporate and high-net-worth customers.

Tracing its roots to the early 1980s, Amerant has grown through a combination of strategic acquisitions and organic expansion.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

Should You Invest $1,000 in Amerant Bancorp Right Now?Before you consider Amerant Bancorp, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Amerant Bancorp wasn't on the list.

While Amerant Bancorp currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.

Get This Free Report

Merchants Bancorp does business in just a small slice in the state of Indiana. MBIN demonstrates financial strength by redeeming preferreds and maintaining decent coverage ratios: 5.7x net income to preferred dividends and 3.2x TCE to par. MBIN's business model leverages high-margin mortgage warehousing, supporting book value growth and stable preferred dividend coverage.

DUNKIRK, N.Y., July 24, 2026 (GLOBE NEWSWIRE) -- Lake Shore Bancorp, Inc. (“Lake Shore Bancorp”) (NASDAQ: LSBK), the holding company for Lake Shore Bank (the “Bank”), announced today that the Board of Directors declared a cash dividend of $0.09 per share on its outstanding common stock on July 22, 2026. The dividend is expected to be paid on August 12, 2026 to shareholders of record as of August 3, 2026.

Origin Bancorp NYSE: OBK reported stronger second-quarter earnings as management said its “Optimize Origin” initiative is translating into improved profitability, disciplined growth and stronger client acquisition across its footprint.

The company reported diluted earnings per share of $1.09 and net income of $33.8 million for the second quarter. Chief Financial Officer Wally Wallace said the result represented Origin’s strongest quarterly earnings performance since the fourth quarter of 2021. Return on average assets was 1.35%, above the company’s near-term run-rate objective of 1.15%, while pre-tax, pre-provision return on average assets was 1.73%.

Chairman, President and Chief Executive Officer Drake Mills said the quarter reflected progress from work begun about 18 months ago under Optimize Origin, which he described as a strategy focused on stronger financial performance, capital allocation, technology investment, talent recruitment and client service.

Get Origin Bancorp alerts:

“What encourages me most is the consistency of our performance,” Mills said. “Optimize Origin has become the way we operate.”

Loan Growth Led by Texas and Southeast Markets President and CEO of Origin Bank Lance Hall said the company continued to benefit from what management described as disruption across its markets, particularly in banker and client acquisition. Since April 1, Origin added 12 experienced bankers, following 15 additions in the first quarter. The company also expanded into Birmingham, Alabama, with a local team of experienced bankers and added production talent in North Texas, Houston, East Texas and Mississippi.

Hall said year-to-date growth included $196 million in commercial and industrial and owner-occupied commercial real estate loans, $167 million in other commercial real estate categories and $61 million in mortgage warehouse lending. Through the first half of the year, Texas and Southeast markets generated $323 million of loan growth, including about $250 million from Texas on approximately $860 million of new loan production.

Wallace said total loans grew 2.7% sequentially in the quarter and 1.9% excluding mortgage warehouse loans. Management said it continues to target loan and deposit growth in the mid- to high-single-digit range for the year, while tracking toward the higher end of that range.

During the question-and-answer session, Hall said the primary drivers of loan growth were Texas and the Southeast, though all markets contributed. He said more than 50% of year-to-date loan growth has come from C&I lending, and that the company’s average loan size remains about $590,000. Hall said new loans in the most recent month were coming in at about 6.4%.

Hall also said the company is seeing pricing and term pressure from competitors, including more frequent offers of non-recourse structures, but said Origin intends to remain conservative in its credit approach.

Deposit Mix Improves as Noninterest-Bearing Balances Rise Origin’s total deposits declined 0.6% during the quarter, which Wallace said was consistent with seasonal trends. However, noninterest-bearing deposits increased 9.6% sequentially and 5.2% on an average basis, ending the quarter at 26% of total deposits, or 25% on an average basis.

Hall said noninterest-bearing deposit growth was evidence that Origin’s bankers are winning primary banking relationships. Deposit account openings increased more than 36% year over year in the first half of the year, and June account openings were up 82% year over year. In response to an analyst question, Hall said the company opened more than 1,800 new deposit accounts in June, compared with just under 1,000 a year earlier.

Hall attributed the growth to a combination of lift-outs, market disruption and dissatisfaction among clients of some competitors. He said new deposit costs were about 2.7%.

Margin Expands, Net Interest Income Outlook Raised Wallace said net interest margin expanded 21 basis points during the quarter to 3.92%, exceeding the company’s expectations. Net interest income rose 5.7% sequentially to $92.2 million, despite a 1% decline in average earning assets. The margin improvement was driven by stronger loan yields, slightly lower deposit costs and the runoff of excess liquidity tied to normal seasonality.

Wallace said Origin removed any Federal Reserve rate actions from its forecast for the remainder of the year and expects margin to remain relatively flat. Combined with balance sheet growth expectations, the company now anticipates net interest income growth in the high-single digits for both the full year and fourth-quarter-over-fourth-quarter basis.

In response to a question from Raymond James analyst Michael Rose, Wallace said the quarter included about three basis points of benefit from interest reversals or recoveries on nonaccrual loans. He also noted that approximately $250 million of fixed-rate loans are expected to reprice or pay off in the back half of the year, with the company picking up about 160 to 170 basis points based on current pricing.

Credit Metrics Improve Chief Risk Officer Jim Crotwell said Origin experienced “sound and improving credit metrics” during the quarter. Total past dues 30 to 89 days and accruing declined to 0.06%, the lowest level in the past five quarters. Net charge-offs totaled $454,000, benefiting from $2 million in recoveries, and annualized net charge-offs were 0.02% for the quarter and 0.08% year to date.

Nonperforming assets declined $9 million to 0.98% of loans, also the lowest level in the past five quarters. Classified assets decreased to 1.79% from 1.97% in the prior quarter. Origin’s allowance for credit losses declined $827,000 to $98.2 million, or 1.30% of total loans net of mortgage warehouse, down from 1.34%.

Crotwell said the company continues to have capacity to grow acquisition, development and construction, and commercial real estate lending, with ADC loans at 51% of total risk-based capital and CRE at 237%.

Capital Return and Outlook Wallace said tangible book value increased sequentially to $36.37, marking the 15th consecutive quarter of growth. The tangible common equity ratio ended the quarter at 11.1%. Origin repurchased 217,034 shares during the quarter at an average price of $46.60, and its board increased the share repurchase authorization by $100 million, leaving $121.6 million remaining.

The company also continued returning capital through its recently increased quarterly dividend. Wallace said Origin’s balance sheet, earnings profile and capital position give it flexibility to invest in growth and return capital to shareholders.

Management also addressed the company’s crossing of the $10 billion asset threshold. Hall said Origin has “completely crossed it” and that the Durbin Amendment impact is expected to begin mid-year next year, with an estimated effect of $4 million to $4.5 million. He said the company is working to offset that impact and has most of the related cost behind it.

Mills said Origin remains focused on becoming a top-quartile performer over the next three years, while continuing to invest in talent, technology, automation and artificial intelligence. He said the company will pursue growth opportunities but not at the expense of the return targets it is attempting to achieve.

“The results we’re discussing today aren’t the destination,” Mills said. “It’s evidence that the transformation is working.”

About Origin Bancorp (NYSE:OBK)Origin Bancorp, Inc NYSE: OBK is a bank holding company based in Atlanta, Georgia, and is the parent of Origin Bank, a full-service commercial banking franchise. The company provides a broad range of financial products and services to individuals, small and middle-market businesses, and institutional clients across the southeastern United States.

Through Origin Bank, the company offers a variety of deposit products, including checking and savings accounts, money market accounts, and certificates of deposit.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

Should You Invest $1,000 in Origin Bancorp Right Now?Before you consider Origin Bancorp, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Origin Bancorp wasn't on the list.

While Origin Bancorp currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

MarketBeat just released its list of the 7 hottest IPOs expected to hit Wall Street in 2026. See which companies are preparing to go public and why investors are watching closely.

Get This Free Report

WEST READING, Pa.--(BUSINESS WIRE)--Customers Bancorp, Inc. (NYSE:CUBI): Second Quarter 2026 Highlights Q2 2026 net income available to common shareholders was $71.6 million, or $2.05 per diluted share; ROAA was 1.13% and ROCE was 13.22%. Q2 2026 core earnings*1 were $71.5 million, or $2.05 per diluted share; Core ROAA* was 1.13% and Core ROCE* was 13.20%. Total deposits increased $140.3 million, or 0.6% in Q2 2026 from Q1 2026, and $2.8 billion, or 14.5% from Q2 2025 to a period end record lev.

LOS ANGELES--(BUSINESS WIRE)--OP Bancorp (the “Company”) (NASDAQ: OPBK), the holding company of Open Bank (the “Bank”), announced today that its Board of Directors declared a quarterly cash dividend of $0.14 per share. The dividend is payable on or about August 20, 2026 to shareholders of record as of the close of business on August 6, 2026.About OP BancorpOP Bancorp, the holding company for Open Bank (the “Bank”), is a California corporation whose common stock is quoted on the Nasdaq Global Mar.

FLORENCE, Ore.--(BUSINESS WIRE)-- #InvestorRelations--Oregon Pacific Bancorp (ORPB), the holding company of Oregon Pacific Bank, today reported net income of $2.8 million, or $0.38 per diluted share, for the quarter ended June 30, 2026, compared to $2.4 million or $0.33 per diluted share for the quarter ended March 31, 2026. “Our second quarter results reflect the durable foundation built through a consistent commitment to relationship banking, responsible growth, and service to our communities,” said Amber White,.

PRINCETON, N.J.--(BUSINESS WIRE)--Princeton Bancorp, Inc. (the “Company”) (NASDAQ - BPRN), the bank holding company for The Bank of Princeton (the “Bank”), today reported its unaudited financial condition and results of operations for the quarter and six months ended June 30, 2026. President/CEO Edward Dietzler spoke to the quarter results, "We are pleased with our strong second quarter performance, which reflects the continued execution of our strategic priorities and the resilience of our fra.

CHICAGO--(BUSINESS WIRE)--Byline Bancorp, Inc. (NYSE: BY), today reported:         At or for the quarter   Second Quarter Highlights (compared to 1Q26 unless specified)       2Q26   1Q26   2Q25 Financial Results ($ in thousands)                     • Delivered strong quarterly results, reflecting   Net interest income (NII)   $ 100,836     $ 99,863     $ 95,982     record revenues and solid growth   Non-interest income     16,876       12,538       14,471         Total revenue(1)     117,712  .

Eagle Bancorp NASDAQ: EGBN reported lower second-quarter 2026 earnings as elevated credit costs and continued balance-sheet repositioning weighed on results, while the company’s new chief executive outlined priorities focused on asset quality, deposits, operating performance and capital.

The Bethesda, Maryland-based bank holding company posted net income of $6.9 million, or $0.23 per diluted share, compared with $14.7 million in the previous quarter, Chief Financial Officer Eric Newell said on the company’s earnings call. Newell said the decline “primarily reflects elevated provision expense, a smaller interest-earning asset base, continued resolutions associated with addressing problem assets and strengthening the overall health of the balance sheet.”

Get Eagle Bancorp alerts:

Steve Curley, who joined Eagle Bancorp as president and chief executive three weeks before the call, said his immediate focus is on disciplined execution and improving confidence in the franchise.

“Investors are looking for results, not promises,” Curley said. “You’ll judge us by what we do, not what we say, and that’s exactly how we intend to earn your confidence.”

Asset quality remains central focus Management repeatedly emphasized that troubled credits have been identified and are being actively managed. Newell said the company’s approach is to “recognize problems early, reserve adequately, pursue resolution, and maximize recovery.”

Credit metrics improved in several areas during the quarter. Eagle’s commercial real estate concentration ratio declined to 268% at quarter-end from 295% in the prior quarter, moving further below the 300% threshold. Its acquisition, development and construction concentration ratio ended the quarter at 66%.

Criticized and classified assets, including substandard, special mention and held-for-sale loans, fell by about $34.5 million during the quarter to $759.6 million at June 30, compared with $794.1 million at March 31. Newell said those balances have declined more than 30% from their peak in the third quarter of 2025. As a percentage of Tier 1 capital and allowance for credit losses, criticized and classified assets declined to 58.1% at quarter-end, compared with 65.7% at year-end 2025.

The company reported approximately $216 million of downgrade activity during the quarter, including $102 million tied to multifamily loans. Newell said three loans represented all of the multifamily downgrade activity, including $35 million that paid off after quarter-end. The remaining two loans, totaling $64 million, are undergoing restructuring, with “no future losses anticipated,” he said.

Nonperforming loans declined to $111.1 million, or 1.68% of total loans. Provision for credit losses totaled $21.4 million, and net charge-offs were $47.9 million. Newell said the provision was tied to disposition activity during the quarter, while $18.5 million of charge-offs were associated with loans transferred from held for investment to held for sale.

The allowance for credit losses ended the quarter at $121.1 million, or 1.83% of total loans. Newell said about $40 million of reserves were allocated specifically to the bank’s income-producing office portfolio.

Curley said he has personally visited almost all special mention and substandard relationships greater than $7 million, along with several larger watch relationships. “What I found was not a portfolio full of surprises,” he said. “I found a portfolio with known issues, active resolution plans, and teams focused on executing against them.”

Balance sheet and funding strategy Eagle continued to reduce its commercial real estate exposure. Newell said CRE loans declined by $1.7 billion year-over-year, while deposits associated with that portfolio fell by only $152 million. That improved the CRE portfolio deposit funding ratio to 36%, up from 27% a year earlier.

Period-end deposits declined $406.4 million from the prior quarter, driven mainly by lower savings, money market and brokered time deposits. Brokered deposits fell $301.5 million as Eagle reduced reliance on higher-cost wholesale funding. Noninterest-bearing deposits increased to $1.56 billion, up 5.2% from the prior quarter.

Net interest income declined $1.3 million to $62.4 million, reflecting CRE payoffs and a smaller average earning-asset base, partially offset by improved funding mix. Net interest margin expanded five basis points to 2.52%.

Curley said one of his major priorities is improving the bank’s funding profile and building relationship-based core deposits before returning to stronger loan growth. “Too often, banks start by growing loans and then figuring out how to fund them,” he said. “We’ll take the opposite approach.”

Operating performance improves despite credit costs Pre-provision net revenue increased $1.4 million from the prior quarter to $29.1 million. Noninterest expense declined $4.7 million to $44 million, mainly because of lower FDIC insurance expense tied to improved risk and performance metrics and reduced expenses related to loan dispositions. The efficiency ratio improved to 60.2% from 63.8% in the prior quarter.

Newell said year-to-date pre-provision net revenue to average assets was about 109 basis points, an improvement from 2025 and a step toward the company’s intermediate target of roughly 150 basis points.

For 2026, management revised its outlook for average deposits, average loans and average earning assets to reflect first-half reductions, but Newell said the revisions do not assume continued declines in the second half. The bank narrowed its net interest margin outlook to 2.6% to 2.7% and improved its noninterest expense outlook to a decline of 7% to 11% year-over-year. Eagle continues to expect noninterest income growth of 15% to 25% for the year.

C&I growth remains a bright spot Management pointed to commercial and industrial lending as an area of momentum. Newell said C&I loans increased 24% year-over-year, with diversified production and strong credit quality.

Evelyn Lee, chief C&I lending officer, said the bank has benefited from its reputation in the Washington metropolitan area and from hiring experienced bankers. Looking ahead, she said normalized C&I growth would likely be in the “high single digits, low double digits.”

Lee said the C&I strategy is focused on new primary relationships rather than participations, with treasury management growth serving as an indicator of deeper client relationships. She said typical C&I relationships are generally between $5 million and $10 million in exposure, while new production can range from about $7 million to $15 million or $20 million.

In commercial real estate, Ryan Riel, chief real estate lending officer, said the bank expects to stabilize balances in the second half of 2026 but does not expect growth before year-end. Curley added that the company aims to “arrest the decline in the balance sheet” in the back half of the year and return to a growth footing in 2027.

Capital and turnaround priorities Curley said capital is another area under review, though he did not provide specific targets or potential actions. He described capital as “a strategic asset” and said the company is evaluating capital levels, flexibility and ways to create long-term shareholder value.

He also said Eagle is recruiting a new chief credit officer and beginning the search for a chief human resources officer following a planned retirement. The bank plans to continue investing in technology, processes and capabilities while remaining disciplined on expenses.

Asked by analysts about the most immediate opportunity at Eagle, Curley said the key task is stopping the balance-sheet decline. “I’ve never seen a bank shrink to greatness,” he said. He added that the company has opportunities to resume disciplined CRE lending, expand business banking and improve branch productivity.

Curley closed the call by saying his objective is not to remake the company, but to strengthen it. “My objective isn’t to create a different EagleBank,” he said. “It’s to build a stronger EagleBank.”

About Eagle Bancorp (NASDAQ:EGBN)Eagle Bancorp, Inc is the bank holding company for EagleBank, a commercial bank headquartered in Bethesda, Maryland. Since its founding in 1998, the company has focused on serving businesses and consumers in the Washington, DC metropolitan area. EagleBank operates a network of full-service branches and commercial banking centers, providing personalized financial solutions to corporate, nonprofit, real estate and individual clients.

The company's product portfolio includes commercial real estate lending, construction and land development financing, small business administration (SBA) loans, commercial and industrial credit facilities, and residential mortgage loans.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

Should You Invest $1,000 in Eagle Bancorp Right Now?Before you consider Eagle Bancorp, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Eagle Bancorp wasn't on the list.

While Eagle Bancorp currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

The AI boom extends far beyond the biggest tech names. Discover 10 companies supplying the memory, storage, networking, semiconductor manufacturing, and power infrastructure that make AI possible. Learn where the next wave of AI investment opportunities may emerge—and the key risks investors should watch as the global AI buildout accelerates.

Get This Free Report

Greene County Bancorp offers a conservative community bank play with strong credit metrics, low LTVs, and sticky municipal deposits. GCBC has negligible AI exposure and a history of greatly outperforming during interest rate hikes, making it attractive amid current inflation and macro uncertainty.

Horizon Bancorp IN) (NASDAQ: HBNC management said the bank’s second-quarter 2026 results reflected continued strength in net interest margin, fee income, commercial lending and credit quality, while also noting a one-time legal expense accrual tied to an unfavorable litigation decision.

President and Chief Executive Officer Thomas Prame said the quarter “continued to show impressive results,” citing a net interest margin in the mid-4.30% range, strong fee income performance and favorable credit trends. He said the company ended the quarter with a common equity Tier 1 capital ratio of 11.09% and total risk-based capital of 15.01%.

Get Horizon Bancorp (IN) alerts:

Prame said Horizon’s first-half performance reflected a “practical approach” to growth, with deposits up approximately 5% annualized year to date and lending growth of approximately 4% annualized. Commercial loans grew at a 5.7% annualized pace in the second quarter.

The company established a $3.1 million accrual for legal expenses related to an unfavorable litigation decision during the quarter. Prame said the accrual is expected to remain in place until Horizon finalizes its appeal process in later quarters. Excluding the one-time item, which management said represented approximately $0.05 per share in the quarter, Prame said results were positive and aligned with full-year expectations.

Commercial Lending Drives Loan Growth Executive Vice President and Chief Commercial Banking Officer Lynn Kerber said the second quarter was “another solid quarter from a lending perspective,” with loan growth improving from the first quarter. Loans held for investment ended the quarter at just under $5 billion, up approximately $81 million, or 6.6% annualized.

Commercial balances increased approximately $64 million during the quarter, while residential and consumer portfolios contributed modest growth. Kerber said mortgage pipelines improved entering the third quarter, supported by production trends and strategic hiring.

Within commercial lending, Kerber said most of the growth came from commercial and industrial loans, which increased approximately $62 million and represented 31% of the commercial portfolio. Growth was broad-based across the franchise, with contributions from Michigan, Indianapolis and Northwest Indiana.

Commercial real estate balances were relatively flat, which Kerber attributed primarily to elevated payoff activity rather than weaker production. She said most payoffs resulted from customers completing business plans through property sales or reaching the natural conclusion of financing needs. During the question-and-answer session, Kerber added that some deals were allowed to leave over pricing or structure because Horizon chose not to compromise on profitability or portfolio mix.

Kerber said C&I growth was led by the community banking franchise and supported by the equipment finance team. Key segments included professional services, construction services, property management, warehouse and logistics, and utility-related businesses.

Credit Quality Remains Stable Horizon reported net charge-offs of approximately $605,000, or five basis points annualized. Kerber described that level as “exceptionally low” relative to historical levels and peer performance.

Early-stage delinquencies remained low, borrower performance was stable, and substandard loans totaled $64.6 million, or 1.3% of loans. Non-performing loans declined to $34.9 million, or 0.70% of loans. The allowance for credit losses was $51.9 million, or 1.05% of loans held for investment.

In response to an analyst question about changes in the mix of non-performing loans, Kerber said mortgage and consumer balances improved as some clients were upgraded. On the commercial side, she said there was nothing concerning, noting that commercial real estate was performing well and that some larger credits were still moving through rehabilitation or collection processes.

Deposits Support Balance Sheet Strategy Prame said Horizon’s deposit portfolio delivered favorable first-half performance, with growth in non-interest-bearing and interest-bearing categories and relatively flat certificate of deposit balances year to date. Deposits were up $125 million year to date, representing a 4.8% annualized growth rate.

He said the company expected to use liquidity gathered in the first quarter to fund loan growth in the second quarter. That approach helped Horizon maintain what Prame described as its historically low cost of interest-bearing deposits, which increased only four basis points during the quarter.

During the Q&A session, Prame said competition varies across markets and products. He described large commercial real estate lending as highly competitive in both pricing and structure, while also noting elevated CD rates in some credit union markets. However, he said Horizon’s model is based on relationship banking rather than leading with rate.

Margin Expands, Fee Income Rises Chief Financial Officer John Stewart said the net interest margin expanded eight basis points in the second quarter to 4.37%. He attributed the improvement partly to lower average interest-earning cash balances, which declined by about $59 million, as well as a favorable spread between loan yields and deposit costs.

Loan yields increased nine basis points from the prior quarter, while total deposit costs, including non-interest-bearing balances, rose three basis points. Stewart said the weighted average new production rate on total loans was about 6.75% in the second quarter and had continued at that level into July.

Stewart said Horizon expects interest-bearing deposit costs to trend modestly higher assuming no additional rate cuts. However, he said marginal loan and deposit growth should generally support the company’s net interest margin and net interest income outlook.

Non-interest income increased 10% year over year, led by fiduciary activities and mortgage banking, which each grew about 20%. Stewart said both business lines benefited from new leadership, talent investments and improved sales management practices. Interchange fees also grew as card usage and spending increased.

Expenses totaled $43.8 million, including the $3.1 million legal charge. Excluding that item, Stewart said expenses were modestly better than expectations and largely unchanged from the prior quarter.

Guidance Updated Modestly Higher Stewart said Horizon’s 2026 outlook is “modestly more favorable.” The company still expects period-end loan and deposit balances to grow in the mid-single digits, with balance sheet growth driven by deposit growth.

Non-FTE net interest income is expected to grow in the low teens year over year. Fully taxable equivalent net interest margin is expected to be in the 4.30% to 4.35% range over the second half of 2026. Fee income is expected to be in the mid-$40 million range for the year. Excluding the legal charge, full-year expenses are expected to be in the low to mid-$160 million range. The effective tax rate is expected to be 18% to 20%. The outlook now assumes one 25-basis-point Federal Reserve rate hike in October, compared with no rate changes in the company’s April update. Stewart said the change did not affect Horizon’s outlook because management views the company’s interest rate exposure as close to neutral.

Management also discussed capital deployment during the call. Prame said Horizon does not have a published target capital level and does not consider the company overcapitalized with CET1 just above 11%. He said acquisitions would be considered only as an “accelerant” to Horizon’s strategy, with a focus on logical market extensions, cultural fit and attractive core deposits. Stewart said the company has 1.5 million shares remaining under a prior buyback authorization and will continue evaluating repurchases alongside other capital deployment options.

About Horizon Bancorp (IN) (NASDAQ:HBNC)Horizon Bancorp NASDAQ: HBNC is a financial holding company headquartered in Columbus, Indiana, offering community banking and wealth management services through its subsidiary, Horizon Bank. As a locally focused institution, it provides a full range of retail and commercial banking products, including checking and savings accounts, consumer and mortgage lending, commercial real estate financing, and treasury management solutions.

In addition to traditional deposit and loan products, Horizon Bancorp's services encompass investment advisory and trust administration, retirement planning, and insurance products.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

Should You Invest $1,000 in Horizon Bancorp (IN) Right Now?Before you consider Horizon Bancorp (IN), you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Horizon Bancorp (IN) wasn't on the list.

While Horizon Bancorp (IN) currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.

Get This Free Report

The Bancorp (TBBK - Free Report) is expected to deliver a year-over-year increase in earnings on lower revenues when it reports results for the quarter ended June 2026. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.

The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on July 30. On the other hand, if they miss, the stock may move lower.

While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise.

Zacks Consensus EstimateThis holding company for The Bancorp Bank is expected to post quarterly earnings of $1.36 per share in its upcoming report, which represents a year-over-year change of +7.1%.

Revenues are expected to be $166.7 million, down 8% from the year-ago quarter.

Estimate Revisions TrendThe consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.

Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts.

Price, Consensus and EPS Surprise

Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core.

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.

Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.

A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.

Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).

How Have the Numbers Shaped Up for The Bancorp?For The Bancorp, the Most Accurate Estimate is lower than the Zacks Consensus Estimate, suggesting that analysts have recently become bearish on the company's earnings prospects. This has resulted in an Earnings ESP of -1.47%.

On the other hand, the stock currently carries a Zacks Rank of #3.

So, this combination makes it difficult to conclusively predict that The Bancorp will beat the consensus EPS estimate.

Does Earnings Surprise History Hold Any Clue?Analysts often consider to what extent a company has been able to match consensus estimates in the past while calculating their estimates for its future earnings. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.

For the last reported quarter, it was expected that The Bancorp would post earnings of $1.34 per share when it actually produced earnings of $1.41, delivering a surprise of +5.22%.

Over the last four quarters, the company has beaten consensus EPS estimates two times.

Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.

That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

The Bancorp doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.

An Industry Player's Expected ResultsAmong the stocks in the Zacks Banks - Northeast industry, HBT Financial (HBT - Free Report) , is soon expected to post earnings of $0.74 per share for the quarter ended June 2026. This estimate indicates a year-over-year change of +17.5%. This quarter's revenue is expected to be $80.7 million, up 37.2% from the year-ago quarter.

Over the last 30 days, the consensus EPS estimate for HBT Financial has remained unchanged. Nevertheless, the company now has an Earnings ESP of -2.04%, reflecting a lower Most Accurate Estimate.

This Earnings ESP, combined with its Zacks Rank #2 (Buy), makes it difficult to conclusively predict that HBT Financial will beat the consensus EPS estimate. Over the last four quarters, the company surpassed consensus EPS estimates three times.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

OPERATING PERFORMANCE ACCELERATES
SEQUENTIAL LOAN GROWTH OF 5% AND CORE DEPOSIT GROWTH OF 8%, ANNUALIZED
NET INTEREST MARGIN WIDENS TO 3.42%
TANGIBLE BOOK VALUE PER SHARE INCREASES
COMMON & PREFERRED DIVIDENDS PER SHARE DECLARED

ENGLEWOOD CLIFFS, N.J., July 23, 2026 (GLOBE NEWSWIRE) -- ConnectOne Bancorp, Inc. (Nasdaq: CNOB) (the “Company” or “ConnectOne”), parent company of ConnectOne Bank (the “Bank”), today reported net income (loss) available to common stockholders of $40.2 million for the second quarter of 2026 compared with $36.3 million for the first quarter of 2026 and $(21.8) million for the second quarter of 2025. Diluted earnings (loss) per share were $0.80 for the second quarter of 2026 compared with $0.72 for the first quarter of 2026 and $(0.52) for the second quarter of 2025. Return on average assets was 1.17%, 1.10% and (0.73)% for the three months ended June 30, 2026, March 31, 2026 and June 30, 2025, respectively. Return on average tangible common equity was 13.79%, 12.89% and (8.42)% for the three months ended June 30, 2026, March 31, 2026 and June 30, 2025, respectively.

Pre-provision net operating revenue ("Operating PPNR") as a percentage of average assets was 1.94%, 1.81% and 1.52% for the quarters ending June 30, 2026, March 31, 2026 and June 30, 2025, respectively. The sequential increase in Operating PPNR was primarily due to a $4.8 million increase in net interest income, combined with a $0.4 million decrease in operating expenses. Operating net income available to common stockholders was $42.2 million for the second quarter of 2026, $39.6 million for the first quarter of 2026 and $23.1 million for the second quarter of 2025. Operating diluted earnings per share were $0.84 for the second quarter of 2026, $0.79 for the first quarter of 2026 and $0.55 for the second quarter of 2025. Operating return on average assets was 1.23%, 1.19% and 0.89% for the three months ended June 30, 2026, March 31, 2026 and June 30, 2025, respectively. Operating return on average tangible common equity was 13.81%, 13.35% and 9.29% for the three months ended June 30, 2026, March 31, 2026 and June 30, 2025, respectively. See supplemental tables for a complete reconciliation of GAAP earnings to operating earnings, and other non-GAAP measures.

The increase in net income available to common stockholders during the second quarter of 2026 when compared to the first quarter of 2026 was primarily due to a $4.8 million increase in net interest income, a $1.1 million increase in noninterest income, and a $2.5 million decrease in noninterest expenses, which were partially offset by a $3.1 million increase in the provision for credit losses and a $1.5 million increase in income tax expense. The first quarter of 2026 included merger expenses and restructuring charges related to the merger with The First of Long Island Corporation ("FLIC") of $2.1 million, reflecting our ongoing commitment to streamlining operations and enhancing organizational efficiency. The increase in net income available to common stockholders and diluted earnings per share during the second quarter of 2026 when compared to the second quarter of 2025 was primarily due to a $34.8 million increase in net interest income, a $27.4 million decrease in the provision for credit losses, a $2.7 million increase in noninterest income, and a $18.2 million decrease in noninterest expense, which was partially offset by a $21.2 million increase in income tax expense. The decrease in the provision for credit losses was driven primarily by the initial $27.4 million provision recognized in the second quarter of 2025 in connection with the merger with FLIC. Overall, the variances from the second quarter of 2026 to the second quarter of 2025 were primarily due to the merger with FLIC.

"ConnectOne delivered another quarter of accelerated performance metrics, driven by sustained momentum across our franchise and a disciplined execution of our relationship-banking business model,” commented Frank Sorrentino, ConnectOne's Chairman and Chief Executive Officer. “Loans and core deposits grew sequentially at annualized rates of approximately 5% and 8%, respectively, while our net interest margin expanded for the 7th consecutive quarter, climbing past 3.40%. The quarter also saw enhanced operating efficiency, and strong capital levels, alongside a substantial rise in tangible book value per share."

Mr. Sorrentino added, “As one of the most efficient banks in the country, we remain committed to further enhancing our operating performance by driving productivity gains through technological innovation, including agentic workflows.”

Mr. Sorrentino concluded, “Looking ahead, we're encouraged by the strength of our business and the opportunities we see for the balance of the year and beyond. Through the continued execution of our strategic priorities and results-oriented culture, we’re confident in ConnectOne's ability to deliver profitable growth and create long-term value for shareholders.”

Dividend Declarations

The Board of Directors declared cash dividends on the Company's common and outstanding preferred stock. A cash dividend on common stock of $0.195 per share will be paid on September 1, 2026, to common stockholders of record on August 14, 2026. A dividend of $0.328125 per depositary share, representing a 1/40th interest in a share of the Company’s 5.25% Fixed Rate Reset Non-Cumulative Perpetual Preferred Stock, Series A, will also be paid on September 1, 2026, to holders of record on August 14, 2026.

Operating Results

Fully taxable equivalent net interest income for the second quarter of 2026 was $114.8 million, an increase of $4.9 million, or 4.4%, from the first quarter of 2026, largely due to a 3 basis-point widening of the net interest margin to 3.42% from 3.39% and a 2.2% increase in average interest-earning assets. The margin benefited from an increase in the yield on interest-earning assets, primarily due to loan repricing, partially offset by a 6 basis-point increase in the average cost of deposits, including noninterest-bearing deposits.

Fully taxable equivalent net interest income for the second quarter of 2026 increased $35.0 million, or 43.9%, from the second quarter of 2025, due to a 36 basis-point widening of the net interest margin to 3.42% from 3.06%, and a 28.5% increase in average interest-earning assets. The increase in average interest-earning assets was primarily due to the merger with FLIC. The margin benefited from a 16 basis-point increase in the yield on interest-earning assets and a 32 basis-point decrease in the average cost of deposits, including noninterest-bearing deposits.

Noninterest income was $7.9 million in the second quarter of 2026, $6.8 million in the first quarter of 2026 and $5.2 million in the second quarter of 2025. The increase compared to the first quarter of 2026 was primarily due to a $1.2 million increase in net gains on sale of loans held-for-sale, primarily SBA loans. The increase compared to the second quarter of 2025 was primarily due to a $1.4 million increase in net gains on sale of loans held-for-sale, a $0.9 million increase in BOLI income and a $0.8 million increase in deposit, loan and other income, which was partially offset by a $0.4 million decrease in net gains on equity securities. The year-over-year increases in BOLI income and deposit, loan and other income were primarily due to the merger with FLIC.

Noninterest expenses were $55.4 million for the second quarter of 2026, $57.9 million for the first quarter of 2026 and $73.6 million for the second quarter of 2025. Excluding merger expenses and restructuring charges, noninterest expenses totaled $55.3 million in the second quarter of 2026, $55.7 million in the first quarter of 2026 and $42.9 million in the second quarter of 2025. The decrease of $0.4 million during the second quarter of 2026 when compared to the first quarter of 2026 was primarily due to a $1.2 million decrease in salaries and employee benefits and a $0.3 million decrease in FDIC insurance expense, which were partially offset by a $0.5 million increase in other expenses, a $0.2 million increase in marketing and advertising expenses, a $0.2 million increase in occupancy and equipment expenses, and a $0.2 million increase in information technology and communication expenses. The $12.4 million increase for the second quarter of 2026 when compared to the second quarter of 2025 was primarily due to a $6.3 million increase in salaries and employee benefits, a $2.0 million increase in occupancy and equipment expenses, a $1.6 million increase in amortization of core deposit intangibles, a $1.3 million increase in other expenses, a $0.6 million increase in information technology and communication expenses and a $0.5 million increase in professional and consulting expense. The variances from the second quarter of 2026 to the second quarter of 2025 were primarily due to the merger with FLIC.

Income tax expense (benefit) was $16.2 million for the second quarter of 2026, $14.7 million for the first quarter of 2026 and $(5.0) million for the second quarter of 2025. The effective tax rates were 28.0%, 28.0% and (19.7)% for the second quarter of 2026, first quarter of 2026 and second quarter of 2025, respectively. The negative tax rate in 2025 was due to the merger with FLIC. As of June 30, 2026, ConnectOne Bank executed a $50.0 million capital commitment to a renewable energy tax credit fund. This investment supports our community sustainability initiatives while helping to maintain our projected full-year 2026 effective tax rate of approximately 28%.

Asset Quality

The provision for credit losses was $8.3 million for the second quarter of 2026, $5.2 million for the first quarter of 2026 and $35.7 million for the second quarter of 2025. In each of the quarters presented, the provision for credit losses reflected net portfolio growth, charges related to individually evaluated loans, changing macroeconomic forecasts and conditions and qualitative factors, while the second quarter of 2025 included the merger-related initial provision. The current quarter's increased sequential provision was primarily driven by a $13.8 million charge-off on a previously disclosed group of New York City loans secured by multiple rent-stabilized multi-family buildings, partially offset by the release of $9.2 million in multifamily qualitative reserves previously related to the criticized portion of this segment. The decrease in the provision for credit losses when compared to the second quarter of 2025 was driven primarily by the initial $27.4 million provision originally booked in the second quarter of 2025 in connection with the FLIC merger.

Nonperforming assets, which include nonaccrual loans and other real estate owned (the Bank had no other real estate owned during the periods reported), were $79.7 million as of June 30, 2026, $41.6 million as of March 31, 2026 and $39.2 million as of June 30, 2025. Nonperforming assets as a percentage of total assets increased to 0.55% as of June 30, 2026, versus 0.29% as of March 31, 2026 and 0.28% as of June 30, 2025. The ratio of nonaccrual loans to loans receivable also increased to 0.67%, as of June 30, 2026, versus 0.35% and 0.35%, at March 31, 2026 and June 30, 2025, respectively. The annualized net loan charge-offs ratio (excluding PCD loans) was 0.56% for the second quarter of 2026, 0.08% for the first quarter of 2026 and 0.22% for the second quarter of 2025. The increase in nonaccrual loans was primarily driven by a group of loans secured by multiple New York City rent-stabilized multi-family buildings, which added $29.9 million (net of charge-offs) to nonaccruals during the quarter, while $20.0 million of the previously announced $63.8 million of loans attributable to the group were brought current. Additionally, the increase in our net loan charge-off ratio (excluding PCD loans) was primarily attributable to the aforementioned $13.8 million charge-off related to this same group of loans.

The allowance for credit losses ("ACL") represented 1.18%, 1.30% and 1.40% of loans receivable as of June 30, 2026, March 31, 2026 and June 30, 2025, respectively. The ACL decreased $12.9 million to $140.1 million as of June 30, 2026, compared to $153.1 million as of March 31, 2026, reflecting recent charge-off activity and the impact on specific and qualitative reserves previously established, improvements in economic factors, and historically low levels of delinquencies and criticized loans. The ACL as a percentage of nonaccrual loans was 175.9% as of June 30, 2026, 368.1% as of March 31, 2026 and 398.2% as of June 30, 2025. Criticized and classified loans as a percentage of loans receivable improved to 1.89% as of June 30, 2026, down from 2.26% as of March 31, 2026 and from 2.44% as of June 30, 2025. Loans past due 30-89 days were 0.03% of loans receivable as of June 30, 2026, 0.81% as of March 31, 2026 and 0.13% as of June 30, 2025. 

Selected Balance Sheet Items

The Company’s total assets were $14.4 billion as of June 30, 2026, compared to $14.0 billion as of December 31, 2025. Loans receivable were $11.9 billion as of June 30, 2026 and $11.5 billion as of December 31, 2025. Total deposits were $11.7 billion as of June 30, 2026 and $11.2 billion as of December 31, 2025.

The Company’s total stockholders’ equity increased to $1.627 billion as of June 30, 2026 from $1.573 billion as of December 31, 2025. Retained earnings increased $57.6 million, partially offset by an increase in the accumulated other comprehensive loss of $3.0 million. As of June 30, 2026, the Company’s tangible common equity ratio and tangible book value per share were 8.78% and $24.66, respectively, compared to 8.62% and $23.52, respectively, as of December 31, 2025. Total goodwill and other intangible assets were $274.5 million as of June 30, 2026, and $280.2 million as of December 31, 2025.

Share Repurchase Program

The Company did not repurchase any shares of common stock during the second quarter of 2026. For the six months ended June 30, 2026, the Company repurchased 90,000 shares of common stock at an average price of $26.21, leaving 551,118 shares authorized for repurchase under the current Board approved repurchase program. The Company intends to repurchase shares from time to time in the open market, in privately negotiated stock purchases or pursuant to any trading plan that may be adopted in accordance with Rule 10b5-1 of the Securities and Exchange Commission and applicable federal securities laws. The share repurchase plan does not obligate the Company to acquire any particular amount of common stock and the plan may be modified or suspended at any time at the Company's discretion.

Use of Non-GAAP Financial Measures

In addition to the results presented in accordance with Generally Accepted Accounting Principles ("GAAP"), ConnectOne routinely supplements its evaluation with an analysis of certain non-GAAP measures. ConnectOne believes these non-GAAP financial measures, in addition to the related GAAP measures, provide meaningful information to investors in understanding our operating performance and trends. These non-GAAP measures have inherent limitations and are not required to be uniformly applied and are not audited. They should not be considered in isolation or as a substitute for an analysis of results reported under GAAP. These non-GAAP measures may not be comparable to similarly titled measures reported by other companies. Reconciliations of non-GAAP financial measures disclosed in this earnings release to the comparable GAAP measures are provided in the accompanying tables.

Second Quarter 2026 Results Conference Call

Management will also host a conference call and audio webcast at 10:00 a.m. ET on July 23, 2026, to review the Company's financial performance and operating results. The conference call dial-in number is 1 (585) 542-9983, meeting ID: 646 211 267. Please dial in at least five minutes before the start of the call to register. An audio webcast of the conference call will be available to the public, on a listen-only basis, via the "Investor Relations" link on the Company's website https://www.ConnectOneBank.com or at http://ir.connectonebank.com.

An online archive of the webcast will be available following the completion of the conference call at https://www.ConnectOneBank.com or at http://ir.connectonebank.com.

About ConnectOne Bancorp, Inc.

ConnectOne Bancorp, Inc., is a modern financial services company that operates, through its subsidiary, ConnectOne Bank, and the Bank’s fintech subsidiary, BoeFly, Inc. ConnectOne Bank is a high-performing commercial bank offering a full suite of banking & lending products and services that focus on small to middle-market businesses. BoeFly, Inc. is a fintech marketplace that connects borrowers in the franchise space with funding solutions through a network of partner banks. ConnectOne Bancorp, Inc. is traded on the Nasdaq Global Market under the trading symbol "CNOB," and information about ConnectOne may be found at https://www.connectonebank.com.

This news release contains certain forward-looking statements which are based on certain assumptions and describe future plans, strategies, and expectations of the Company. These forward-looking statements are generally identified by use of the words "believe," "expect," "intend," "anticipate," "estimate," "project," or similar expressions. The Company's ability to predict results or the actual effect of future plans or strategies is inherently uncertain. Factors which could have a material adverse effect on the operations of the Company and its subsidiaries include, but are not limited to, those factors set forth in Item 1A – Risk Factors of the Company’s Annual Report on Form 10-K, as filed with the U.S. Securities and Exchange Commission, as supplemented by the Company’s subsequent filings with the U.S. Securities and Exchange Commission, and changes in interest rates, general economic conditions, legislative/regulatory changes, monetary and fiscal policies of the U.S. Government, including policies of the U.S. Treasury and the Federal Reserve Board, the quality or composition of the loan or investment portfolios, demand for loan products, deposit flows, competition, demand for financial services in the Company's market area, changes in accounting principles and guidelines and the impact of the health emergencies and natural disasters on the Company, its employees and operations, and its customers. These risks and uncertainties should be considered in evaluating forward-looking statements and undue reliance should not be placed on such statements. The Company does not undertake, and specifically disclaims any obligation, to publicly release the result of any revisions which may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

Investor Contact:
William S. Burns
Senior Executive Vice President & CFO
201.816.4474; [email protected]

Media Contact:
Shannan Weeks 
MikeWorldWide
732.299.7890; [email protected]

CONNECTONE BANCORP, INC. AND SUBSIDIARIESCONSOLIDATED CONDENSED STATEMENTS OF FINANCIAL CONDITION(in thousands)   June 30,  December 31,  June 30,   2026  2025  2025   (unaudited)      (unaudited) ASSETS            Cash and due from banks $39,552  $92,406  $97,792 Interest-bearing deposits with banks  322,724   288,489   498,741 Cash and cash equivalents  362,276   380,895   596,533              Investment securities  1,179,258   1,250,938   1,227,200 Equity securities  19,793   19,287   19,707              Loans held-for-sale  —   391   1,027              Loans receivable  11,869,034   11,453,280   11,164,477 Less: Allowance for credit losses - loans  140,149   154,305   156,190 Net loans receivable  11,728,885   11,298,975   11,008,287              Investment in restricted stock, at cost  46,596   54,722   49,248 Bank premises and equipment, net  53,779   55,285   54,297 Accrued interest receivable  61,561   60,761   60,950 Bank owned life insurance  376,681   370,713   364,836 Right of use operating lease assets  30,340   29,603   31,282 Goodwill  220,235   220,235   215,611 Core deposit intangibles  54,233   59,923   66,315 Other assets  278,227   200,972   220,445 Total assets $14,411,864  $14,002,700  $13,915,738              LIABILITIES            Deposits:            Noninterest-bearing $2,512,964  $2,420,397   2,424,529 Interest-bearing  9,227,399   8,820,218   8,853,958 Total deposits  11,740,363   11,240,615   11,278,487 Borrowings  715,416   903,489   783,859 Subordinated debentures, net  202,236   201,864   276,500 Operating lease liabilities  32,929   32,446   35,334 Other liabilities  94,395   50,946   45,127 Total liabilities  12,785,339   12,429,360   12,419,307              COMMITMENTS AND CONTINGENCIES                         STOCKHOLDERS' EQUITY            Preferred stock  110,927   110,927   110,927 Common stock  857,765   857,765   857,765 Additional paid-in capital  39,688   38,763   36,728 Retained earnings  731,500   673,897   614,532 Treasury stock  (78,507)  (76,116)  (76,116)Accumulated other comprehensive loss  (34,848)  (31,896)  (47,405)Total stockholders' equity  1,626,525   1,573,340   1,496,431 Total liabilities and stockholders' equity $14,411,864  $14,002,700  $13,915,738  CONNECTONE BANCORP, INC. AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF INCOME(dollars in thousands, except for per share data)   Three Months Ended  Six Months Ended   06/30/26  06/30/25  06/30/26  06/30/25 Interest income                Interest and fees on loans $176,250  $132,316  $344,548  $247,667 Interest and dividends on investment securities:                Taxable  10,982   7,437   21,781   12,424 Tax-exempt  1,907   1,419   3,885   2,516 Dividends  947   788   1,882   1,677 Interest on federal funds sold and other short-term investments  2,821   4,070   5,208   6,535 Total interest income  192,907   146,030   377,304   270,819 Interest expense                Deposits  69,571   60,239   135,253   114,231 Borrowings  9,697   6,908   19,608   11,949 Total interest expense  79,268   67,147   154,861   126,180                  Net interest income  113,639   78,883   222,443   144,639 Provision for credit losses  8,300   35,700   13,500   39,200 Net interest income after provision for credit losses  105,339   43,183   208,943   105,439                  Noninterest income                Deposit, loan and other income  3,324   2,570   6,607   4,576 Income on bank owned life insurance  3,017   2,087   5,968   3,671 Net gains on sale of loans held-for-sale  1,590   181   2,017   513 Net gains (losses) on equity securities  (4)  347   131   876 Total noninterest income  7,927   5,185   14,723   9,636                  Noninterest expenses                Salaries and employee benefits  31,537   25,233   64,305   47,811 Occupancy and equipment  5,519   3,478   10,864   6,158 FDIC insurance  1,700   2,000   3,700   3,800 Professional and consulting  3,127   2,598   6,235   4,964 Marketing and advertising  1,161   840   2,087   1,435 Information technology and communications  5,394   4,792   10,637   9,396 Merger expenses and restructuring charges  108   30,745   2,233   32,065 Bank owned life insurance restructuring charge  —   —   —   327 Amortization of core deposit intangibles  2,845   1,251   5,690   1,530 Other expenses  4,025   2,712   7,534   5,468 Total noninterest expenses  55,416   73,649   113,285   112,954                  Income (loss) before income tax expense  57,850   (25,281)  110,381   2,121 Income tax expense (benefit)  16,182   (4,988)  30,891   2,172 Net income (loss)  41,668   (20,293)  79,490   (51)Preferred dividends  1,509   1,509   3,018   3,018 Net income (loss) available to common stockholders $40,159  $(21,802) $76,472  $(3,069)                 Earnings (loss) per common share:                Basic $0.80  $(0.52) $1.52  $(0.08)Diluted  0.80   (0.52)  1.51   (0.08)                  ConnectOne's management believes that the supplemental financial information, including non-GAAP measures provided below, is useful to investors. The non-GAAP measures should not be viewed as a substitute for financial results determined in accordance with GAAP, and are not necessarily comparable to non-GAAP financial measures presented by other companies. 

CONNECTONE BANCORP, INC.SUPPLEMENTAL GAAP AND NON-GAAP FINANCIAL MEASURES   As of   Jun. 30,  Mar. 31,  Dec. 31,  Sept. 30,  Jun. 30,   2026  2026  2025  2025  2025 Selected Financial Data (dollars in thousands) Total assets $14,411,864  $14,209,561  $14,002,700  $14,023,585  $13,915,738 Loans receivable:                    Commercial  1,598,678   1,638,836   1,558,436   1,613,421   1,597,590 Commercial real estate  4,871,086   4,750,508   4,625,143   4,310,159   4,285,663 Multifamily  3,679,302   3,574,336   3,437,080   3,420,465   3,348,308 Commercial construction  528,103   571,073   623,902   728,615   681,222 Residential  1,192,033   1,202,539   1,210,980   1,233,305   1,254,646 Consumer  3,313   1,801   2,017   2,166   1,709 Gross loans  11,872,515   11,739,093   11,457,558   11,308,131   11,169,138 Net deferred loan fees  (3,481)  (3,497)  (4,278)  (4,495)  (4,661)Loans receivable  11,869,034   11,735,596   11,453,280   11,303,636   11,164,477 Loans held-for-sale  —   10,222   391   —   1,027 Total loans $11,869,034  $11,745,818  $11,453,671  $11,303,636  $11,165,504                      Investment and equity securities $1,199,051  $1,215,806  $1,270,225  $1,272,335  $1,246,907 Goodwill and other intangible assets  274,468   277,313   280,158   278,730   281,926 Deposits:                    Noninterest-bearing demand $2,512,964  $2,393,938  $2,420,397  $2,513,102  $2,424,529 Time deposits  2,927,930   3,010,971   2,796,877   2,977,952   3,065,015 Other interest-bearing deposits  6,299,469   6,108,144   6,023,341   5,878,241   5,788,943 Total deposits $11,740,363  $11,513,053  $11,240,615  $11,369,295  $11,278,487                      Borrowings $715,416  $827,477  $903,489  $833,443  $783,859 Subordinated debentures (net of debt issuance costs)  202,236   202,050   201,864   201,677   276,500 Total stockholders' equity  1,626,525   1,591,547   1,573,340   1,538,344   1,496,431                      Quarterly Average Balances                    Total assets $14,254,280  $13,999,581  $13,963,138  $14,050,585  $11,108,430 Loans receivable:                    Commercial $1,652,412  $1,579,368  $1,597,123  $1,583,673  $1,486,245 Commercial real estate (including multifamily)  8,433,558   8,137,515   7,822,943   7,630,195   6,404,302 Commercial construction  524,023   613,661   646,414   704,170   643,115 Residential  1,198,244   1,204,082   1,221,171   1,241,375   587,118 Consumer  10,855   6,851   5,473   6,747   5,759 Gross loans  11,819,092   11,541,477   11,293,124   11,166,160   9,126,539 Net deferred loan fees  (3,331)  (4,042)  (4,708)  (4,418)  (5,097)Loans receivable  11,815,761   11,537,435   11,288,416   11,161,742   9,121,442 Loans held-for-sale  107   335   230   318   352 Total loans $11,815,868  $11,537,770  $11,288,646  $11,162,060  $9,121,794                      Investment and equity securities $1,208,532  $1,256,147  $1,269,275  $1,274,000  $845,614 Goodwill and other intangible assets  276,313   279,158   279,165   280,814   235,848 Deposits:                    Noninterest-bearing demand $2,424,773  $2,384,883  $2,473,596  $2,486,993  $1,680,653 Time deposits  2,992,440   2,901,327   2,946,459   3,019,848   2,662,411 Other interest-bearing deposits  6,122,264   5,996,487   5,907,547   5,889,230   4,463,648 Total deposits $11,539,477  $11,282,697  $11,327,602  $11,396,071  $8,806,712                      Borrowings $812,384  $833,551  $781,388  $783,994  $723,303 Subordinated debentures (net of debt issuance costs)  202,114   201,928   201,741   263,511   170,802 Total stockholders' equity  1,612,528   1,594,699   1,558,366   1,513,892   1,344,254    Three Months Ended   Jun. 30,  Mar. 31,  Dec. 31,  Sept. 30,  Jun. 30,   2026  2026  2025  2025  2025   (dollars in thousands, except for per share data) Net interest income $113,639  $108,804  $106,595  $102,017  $78,883 Provision for credit losses  8,300   5,200   2,300   5,500   35,700 Net interest income after provision for credit losses  105,339   103,604   104,295   96,517   43,183 Noninterest income                    Deposit, loan and other income  3,324   3,283   3,289   3,836   2,570 Defined benefit pension plan curtailment gain  —   —   —   3,501   — Employee retention tax credit  —   —   —   6,608   — Income on bank owned life insurance  3,017   2,951   2,946   2,931   2,087 Net gains on sale of loans held-for-sale  1,590   427   631   859   181 Net gains (losses) on equity securities  (4)  135   (846)  1,674   347 Total noninterest income  7,927   6,796   6,020   19,409   5,185 Noninterest expenses                    Salaries and employee benefits  31,537   32,768   31,211   32,401   25,233 Occupancy and equipment  5,519   5,345   5,265   5,122   3,478 FDIC insurance  1,700   2,000   2,400   2,400   2,000 Professional and consulting  3,127   3,108   2,908   2,929   2,598 Marketing and advertising  1,161   926   974   771   840 Information technology and communications  5,394   5,243   5,366   5,243   4,792 Restructuring and exit charges  —   —   —   994   — Merger expenses and restructuring charges  108   2,125   498   1,898   30,745 Branch closing expenses  —   —   1,275   —   — Bank owned life insurance restructuring charge  —   —   —   —   — Amortization of core deposit intangible  2,845   2,845   3,196   3,196   1,251 Other expenses  4,025   3,509   3,853   3,719   2,712 Total noninterest expenses  55,416   57,869   56,946   58,673   73,649                      Income (loss) before income tax expense  57,850   52,531   53,369   57,253   (25,281)Income tax expense (benefit)  16,182   14,709   13,851   16,277   (4,988)Net income (loss)  41,668   37,822   39,518   40,976   (20,293)Preferred dividends  1,509   1,509   1,509   1,509   1,509 Net income (loss) available to common stockholders $40,159  $36,313  $38,009  $39,467  $(21,802)                     Weighted average diluted common shares outstanding  50,404,698   50,382,297   50,414,115   50,462,030   42,173,758 Diluted EPS $0.80  $0.72  $0.75  $0.78  $(0.52)                     Reconciliation of GAAP Net Income to Operating Net Income:                    Net income (loss) $41,668  $37,822  $39,518  $40,976  $(20,293)Restructuring and exit charges  —   —   —   994   — Merger expenses and restructuring charges  108   2,125   498   1,898   30,745 Estimated state tax liability on intercompany dividends  —   —   —   —   3,000 Initial provision for credit losses related to merger  —   —   —   —   27,418 Branch closing expenses  —   —   1,275   —   — Bank owned life insurance restructuring charge  —   —   —   —   — Amortization of core deposit intangibles  2,845   2,845   3,196   3,196   1,251 Net (gains) losses on equity securities  4   (135)  846   (1,674)  (347)Defined benefit pension plan curtailment gain  —   —   —   (3,501)  — Employee retention tax credit  —   —   —   (6,608)  — Tax impact of adjustments  (917)  (1,499)  (1,802)  1,737   (17,168)Operating net income $43,708  $41,158  $43,531  $37,018  $24,606 Preferred dividends  1,509   1,509   1,509   1,509   1,509 Operating net income available to common stockholders $42,199  $39,649  $42,022  $35,509  $23,097                      Operating diluted EPS (non-GAAP)(1) $0.84  $0.79  $0.83  $0.70  $0.55                      Return on Assets Measures                    Average assets $14,254,280  $13,999,581  $13,963,138  $14,050,585  $11,108,430 Return on avg. assets  1.17%  1.10%  1.12%  1.16%  (0.73)%Operating return on avg. assets (non-GAAP)(2)  1.23   1.19   1.24   1.05   0.89 Pre-provision net operating revenue ("PPNR") return on avg. assets (non-GAAP)(3)  1.94   1.81   1.75   1.61   1.52  (1)Operating net income available to common stockholders divided by weighted average diluted shares outstanding.(2)Operating net income divided by average assets.(3)Net income before income tax expense, provision for credit losses, merger expenses and restructuring charges, branch closing expenses, BOLI restructuring charges, restructuring and exit charges, employee retention tax credit, defined benefit pension plan curtailment gain, amortization of core deposit intangibles and net gains on equity securities divided by average assets.   Three Months Ended   Jun. 30,  Mar. 31,  Dec. 31,  Sept. 30,  Jun. 30,   2026  2026  2025  2025  2025 Return on Equity Measures (dollars in thousands) Average stockholders' equity $1,612,528  $1,594,699  $1,558,366  $1,513,892  $1,344,254 Less: average preferred stock  (110,927)  (110,927)  (110,927)  (110,927)  (110,927)Average common equity $1,501,601  $1,483,772  $1,447,439  $1,402,965  $1,233,327 Less: average intangible assets  (276,313)  (279,158)  (279,165)  (280,814)  (235,848)Average tangible common equity $1,225,288  $1,204,614  $1,168,274  $1,122,151  $997,479 Return on avg. common equity (GAAP)  10.73%  9.93%  10.42%  11.16%  (7.09)%Operating return on avg. common equity (non-GAAP)(4)  11.27   10.84   11.52   10.04   7.51 Return on avg. tangible common equity (non-GAAP)(5)  13.79   12.89   13.66   14.74   (8.42)Operating return on avg. tangible common equity (non-GAAP)(6)  13.81   13.35   14.27   12.55   9.29                      Efficiency Measures                    Total noninterest expenses $55,416  $57,869  $56,946  $58,673  $73,649 Restructuring and exit charges  —   —   —   (994)  — Merger expenses and restructuring charges  (108)  (2,125)  (498)  (1,898)  (30,745)Branch closing expenses  —   —   (1,275)  —   — Bank owned life insurance restructuring charge  —   —   —   —   — Amortization of core deposit intangibles  (2,845)  (2,845)  (3,196)  (3,196)  (1,251)Operating noninterest expense $52,463  $52,899  $51,977  $52,585  $41,653                      Net interest income (tax equivalent basis) $114,841  $109,976  $107,761  $103,155  $79,810 Noninterest income  7,927   6,796   6,020   19,409   5,185 Defined benefit pension plan curtailment gain  —   —   —   (3,501)  — Employee retention tax credit  —   —   —   (6,608)  — Net (gains) losses on equity securities  4   (135)  846   (1,674)  (347)Operating revenue $122,772  $116,637  $114,627  $110,781  $84,648                      Operating efficiency ratio (non-GAAP)(7)  42.7%  45.4%  45.3%  47.5%  49.2%                     Net Interest Margin                    Average interest-earning assets $13,451,804  $13,160,794  $13,093,053  $13,172,443  $10,468,589 Net interest income (tax equivalent basis) $114,841  $109,976  $107,761  $103,155  $79,810 Net interest margin (non-GAAP)  3.42%  3.39%  3.27%  3.11%  3.06% (4)Operating net income available to common stockholders divided by average common equity.(5)Net income available to common stockholders, excluding amortization of intangible assets, divided by average tangible common equity.(6)Operating net income available to common stockholders, divided by average tangible common equity.(7)Operating noninterest expense divided by operating revenue.   As of   Jun. 30,  Mar. 31,  Dec. 31,  Sept. 30,  Jun. 30,   2026  2026  2025  2025  2025 Capital Ratios and Book Value per Share (dollars in thousands, except for per share data) Stockholders equity $1,626,525  $1,591,547  $1,573,340  $1,538,344  $1,496,431 Less: preferred stock  (110,927)  (110,927)  (110,927)  (110,927)  (110,927)Common equity $1,515,598  $1,480,620  $1,462,413  $1,427,417  $1,385,504 Less: intangible assets  (274,468)  (277,313)  (280,158)  (278,730)  (281,926)Tangible common equity $1,241,130  $1,203,307  $1,182,255  $1,148,687  $1,103,578                      Total assets $14,411,864  $14,209,561  $14,002,700  $14,023,585  $13,915,738 Less: intangible assets  (274,468)  (277,313)  (280,158)  (278,730)  (281,926)Tangible assets $14,137,396  $13,932,248  $13,722,542  $13,744,855  $13,633,812                      Common shares outstanding  50,319,832   50,288,494   50,271,854   50,273,089   50,270,162                      Common equity ratio (GAAP)  10.52%  10.42%  10.44%  10.18%  9.96%Tangible common equity ratio (non-GAAP)(8)  8.78   8.64   8.62   8.36   8.09                      Regulatory capital ratios (Bancorp):                    Leverage ratio  9.85%  9.79%  9.61%  9.35%  11.58%Common equity Tier 1 risk-based ratio  10.28   10.23   10.24   10.17   10.04 Risk-based Tier 1 capital ratio  11.22   11.19   11.22   11.17   11.06 Risk-based total capital ratio  13.71   13.81   13.88   13.88   14.35                      Regulatory capital ratios (Bank):                    Leverage ratio  10.81%  10.81%  10.59%  10.35%  12.81%Common equity Tier 1 risk-based ratio  12.31   12.35   12.36   12.37   12.22 Risk-based Tier 1 capital ratio  12.31   12.35   12.36   12.37   12.22 Risk-based total capital ratio  13.20   13.33   13.33   13.38   13.24                      Book value per share (GAAP) $30.12  $29.44  $29.09  $28.39  $27.56 Tangible book value per share (non-GAAP)(9)  24.66   23.93   23.52   22.85   21.95                      Net Loan Charge-offs (Recoveries)(10):                    Net loan charge-offs (recoveries):                    Charge-offs $17,022  $2,758  $5,613  $5,174  $5,039 Recoveries  (531)  (467)  (836)  (38)  (118)Net loan charge-offs $16,491  $2,291  $4,777  $5,136  $4,921 Net loan charge-offs as a % of average loans receivable (annualized)  0.56%  0.08%  0.17%  0.18%  0.22%                     Asset Quality                    Nonaccrual loans $79,664  $41,579  $45,915  $39,671  $39,228 Other real estate owned  —   —   —   —   — Nonperforming assets $79,664  $41,579  $45,915  $39,671  $39,228                      Allowance for credit losses - loans (excluding nonaccretable credit marks) $106,120  $115,609  $112,282  $113,163  $112,854 Add: nonaccretable credit marks  34,029   37,447   42,023   43,336   43,336 Allowance for credit losses - loans ("ACL") $140,149  $153,056  $154,305  $156,499  $156,190                      Loans receivable $11,869,034  $11,735,596  $11,453,280  $11,303,636  $11,164,477                      Nonaccrual loans as a % of loans receivable  0.67%  0.35%  0.40%  0.35%  0.35%Nonperforming assets as a % of total assets  0.55   0.29   0.33   0.28   0.28 ACL as a % of loans receivable  1.18   1.30   1.35   1.38   1.40 ACL as a % of nonaccrual loans  175.9   368.1   336.1   394.5   398.2  (8)Tangible common equity divided by tangible assets.(9)Tangible common equity divided by common shares outstanding at period-end.(10)Includes only non-PCD loans. CONNECTONE BANCORP, INC.NET INTEREST MARGIN ANALYSIS(dollars in thousands)   For the Three Months Ended   June 30, 2026  March 31, 2026  June 30, 2025   Average          Average          Average         Interest-earning assets: Balance  Interest  Rate(7)  Balance  Interest  Rate(7)  Balance  Interest  Rate(7) Investment securities(1) (2) $1,275,125  $13,397   4.21% $1,307,184  $13,302   4.13% $935,996  $9,234   3.96%Loans receivable and loans held-for-sale(2) (3) (4)  11,815,868   176,944   6.01   11,537,770   168,945   5.94   9,121,794   132,865   5.84 Federal funds sold and interest-                                    bearing deposits with banks  309,872   2,821   3.65   264,232   2,387   3.66   367,309   4,070   4.44 Restricted investment in bank stock  50,939   947   7.46   51,608   935   7.35   43,490   788   7.27 Total interest-earning assets  13,451,804   194,109   5.79   13,160,794   185,569   5.72   10,468,589   146,957   5.63 Allowance for loan losses  (155,399)          (154,481)          (98,030)        Noninterest-earning assets  957,875           993,268           737,871         Total assets $14,254,280          $13,999,581          $11,108,430                                              Interest-bearing liabilities:                                    Money market deposits  3,052,487   22,148   2.91   2,903,419   20,146   2.81   2,016,336   15,467   3.08 Savings deposits  978,961   6,339   2.60   1,014,568   6,304   2.52   777,951   6,172   3.18 Time deposits  2,992,440   27,776   3.72   2,901,327   26,713   3.73   2,662,411   26,636   4.01 Other interest-bearing deposits  2,090,816   13,308   2.55   2,078,500   12,519   2.44   1,669,361   11,964   2.87 Total interest-bearing deposits  9,114,704   69,571   3.06   8,897,814   65,682   2.99   7,126,059   60,239   3.39                                      Borrowings  812,384   5,402   2.67   833,551   5,513   2.68   723,303   3,530   1.96 Subordinated debentures  202,114   4,283   8.50   201,928   4,385   8.81   170,802   3,361   7.89 Finance lease  845   12   5.70   921   13   5.72   1,139   17   5.99 Total interest-bearing liabilities  10,130,047   79,268   3.14   9,934,214   75,593   3.09   8,021,303   67,147   3.36                                      Noninterest-bearing demand deposits  2,424,773           2,384,883           1,680,653         Other liabilities  86,932           85,785           62,220         Total noninterest-bearing liabilities  2,511,705           2,470,668           1,742,873         Stockholders' equity  1,612,528           1,594,699           1,344,254         Total liabilities and stockholders' equity $14,254,280          $13,999,581          $11,108,430                                              Net interest income (tax equivalent basis)      114,841           109,976           79,810     Net interest spread(5)          2.65%          2.63%          2.27%                                     Net interest margin(6)          3.42%          3.39%          3.06%                                     Tax equivalent adjustment      (1,202)          (1,172)          (927)    Net interest income     $113,639          $108,804          $78,883      (1)Average balances are calculated on amortized cost.(2)Interest income is presented on a tax equivalent basis using 21% federal tax rate.(3)Includes loan fee income.(4)Loans include nonaccrual loans.(5)Represents difference between the average yield on interest-earning assets and the average cost of interest-bearing liabilities and is presented on a tax equivalent basis.(6)Represents net interest income on a tax equivalent basis divided by average total interest-earning assets.(7)Rates are annualized.

, /PRNewswire/ -- S&T Bancorp, Inc. (S&T) (NASDAQ: STBA), the holding company for S&T Bank, announced net income of $36.6 million for the second quarter of 2026 compared to $35.1 million for the first quarter of 2026 and $31.9 million for the second quarter of 2025. Diluted earnings per share was $1.02 for the second quarter of 2026, an increase of $0.08, or 8.5%, compared to $0.94 for the first quarter of 2026 and an increase of $0.19, or 22.9%, compared to $0.83 for the second quarter of 2025.

Second Quarter of 2026 Highlights:

Solid return metrics with return on average assets (ROA) of 1.49%, return on average equity (ROE) of 10.37% and return on average tangible shareholders' equity (ROTE) (non-GAAP) of 14.15% compared to ROA of 1.44%, ROE of 9.77% and ROTE (non-GAAP) of 13.22% for the first quarter of 2026. Pre-provision net revenue to average assets (PPNR) (non-GAAP) was 1.89% compared to 1.87% for the first quarter of 2026. Net interest margin on a fully taxable equivalent basis (NIM) (FTE) (non-GAAP) expanded 7 basis points to 3.99% compared to 3.92% in the first quarter of 2026. Total portfolio loans increased $99.0 million, or 5.0% annualized, compared to March 31, 2026. Total deposits decreased $99.1 million due to lower brokered deposits of $100.4 million compared to March 31, 2026. Customer deposits were stable in the second quarter, following solid growth in the first quarter of 2026 with year-to-date growth of $307.7 million, or 8.0% annualized. Net charge-offs were only $1.0 million, or 0.05% of average loans, compared to net charge-offs of $1.7 million, or 0.09% of average loans, in the first quarter of 2026. Nonperforming assets (NPAs) decreased $9.7 million to $40.2 million, or 0.50% of total loans plus other real estate owned (OREO), compared to $49.9 million, or 0.63%, at March 31, 2026. Actively managing capital with 1,074,924 shares repurchased at an average price of $44.24 for $47.6 million. "We delivered another strong quarter driven by disciplined execution of our strategy," said Chris McComish, chief executive officer. "Our results reflected solid earnings and returns, good loan growth, stable deposits following strong first-quarter growth and continued favorable asset quality. These results highlight the strength of our customer relationships, the dedication of our people and our ability to create long-term value for our shareholders."

Net Interest Income

Net interest income was $90.4 million in the second quarter of 2026 compared to $88.4 million in the first quarter of 2026. NIM (FTE) (non-GAAP) increased 7 basis points to 3.99% compared to 3.92% in the prior quarter. The yield on average interest-earning assets increased 4 basis points to 5.64% compared to 5.60% in the first quarter of 2026 primarily due to a higher yield on loans. Total interest-bearing liability costs decreased 4 basis points to 2.50% compared to 2.54% in the first quarter of 2026 mainly due to a better funding mix. Average brokered deposits decreased $146.2 million while average interest-bearing customer deposits increased $119.8 million compared to the first quarter of 2026.

Asset Quality

The allowance for credit losses, or ACL, was unchanged at $93.3 million, or 1.16% of total portfolio loans, at June 30, 2026 compared to $93.3 million, or 1.17%, at March 31, 2026. The provision for credit losses was $1.1 million for the second quarter of 2026 compared to $1.3 million in the first quarter of 2026. Net loan charge-offs were $1.0 million, or 0.05% of average loans, compared to $1.7 million, or 0.09% of average loans, in the first quarter of 2026. NPAs decreased $9.7 million to $40.2 million, or 0.50% of total loans plus OREO, compared to $49.9 million, or 0.63%, at March 31, 2026.

Noninterest Income and Expense

Noninterest income increased $1.3 million to $14.9 million in the second quarter of 2026 compared to $13.6 million in the first quarter of 2026. Higher noninterest income related to a $0.4 million increase in debit and credit card fees due to the first quarter of 2026 being seasonally lower and a $0.3 million increase in other income primarily related to partnership income and unrealized gains on equity securities. Additionally, during the second quarter of 2026 there was a $0.2 million net gain on the sale of securities resulting from a $1.9 million gain related to Visa Class B-2 common stock conversion, which was mostly offset by a $1.7 million loss related to the repositioning of securities into longer duration, higher yielding securities.

Noninterest expense increased $2.0 million to $58.7 million in the second quarter of 2026 compared to $56.7 million in the first quarter of 2026. Salaries and employee benefits increased $1.3 million primarily related to annual merit increases and higher medical costs. Other noninterest expense increased $1.0 million primarily due to normal fluctuations across several expense categories and timing-related items.

Financial Condition

Total assets were $9.9 billion at both June 30, 2026 and March 31, 2026. Cash and due from banks decreased $121.2 million related to an increase in loans compared to March 31, 2026. Total portfolio loans increased $99.0 million compared to March 31, 2026 with an increase in the commercial loan portfolio of $104.2 million and a decrease in the consumer loan portfolio of $5.2 million. The increase in the commercial loan portfolio was due to an increase in commercial and industrial of $79.0 million and an increase in commercial construction of $71.4 million, offset by a decline in commercial real estate of $46.2 million compared to March 31, 2026. Total deposits decreased $99.1 million due to lower brokered deposits of $100.4 million compared to March 31, 2026. Customer deposits were stable in the second quarter, following solid growth in the first quarter of 2026 with year-to-date growth of $307.7 million, or 8.0% annualized. Money market decreased $80.8 million, noninterest bearing deposits decreased $16.9 million, interest-bearing demand decreased $14.8 million and savings decreased $1.2 million, offset by an increase in certificates of deposit of $14.7 million, compared to March 31, 2026. The decrease in money market of $80.8 million is net of a decline in brokered money market deposits of $100.4 million offset by an increase in customer money market deposits of $19.6 million compared to March 31, 2026. Total borrowings increased $125.0 million to $275.3 million compared to $150.3 million at March 31, 2026 due to a decrease in brokered deposits and share repurchases.

Capital

During the second quarter of 2026, 1,074,924 shares were repurchased at an average price of $44.24 per share for $47.6 million. Total share repurchases over the past three quarters were 3,169,294 shares, representing 8.3% of outstanding shares, at an average price of $42.09 per share totaling $133.4 million.

S&T continues to maintain a strong regulatory capital position with all capital ratios above the well-capitalized thresholds of federal bank regulatory agencies.

New Share Repurchase Plan Authorization

The board of directors authorized a new $100 million share repurchase program at its meeting held July 22, 2026. The new program will replace the existing share repurchase program effective July 27, 2026, and is set to expire August 31, 2027. The remaining capacity under the existing share repurchase program was terminated.

Conference Call

S&T will host its second quarter 2026 earnings conference call live via webcast at 1:00 pm ET, Thursday, July 23, 2026. To access the webcast, go to S&T Bancorp Inc.'s Investor Relations webpage stbancorp.com. After the live presentation, the webcast will be archived at stbancorp.com for 12 months.

About S&T Bancorp, Inc. and S&T Bank

S&T Bancorp, Inc. is a $9.9 billion bank holding company that is headquartered in Indiana, Pennsylvania and trades on the NASDAQ Global Select Market under the symbol STBA. Its principal subsidiary, S&T Bank, was established in 1902 and operates in Pennsylvania and Ohio. For more information, visit stbancorp.com or stbank.com. Follow us on Facebook, Instagram and LinkedIn.

Forward-Looking Statements

This information contains or incorporates statements that we believe are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to our financial condition, results of operations, plans, objectives, outlook for earnings, revenues, expenses, capital and liquidity levels and ratios, asset levels, asset quality, financial position and other matters regarding or affecting S&T and its future business and operations. Forward-looking statements are typically identified by words or phrases such as "will likely result," "expect," "anticipate," "estimate," "forecast," "project," "intend," "believe," "assume," "strategy," "trend," "plan," "outlook," "outcome," "continue," "remain," "potential," "opportunity," "comfortable," "current," "position," "maintain," "sustain," "seek," "achieve" and variations of such words and similar expressions, or future or conditional verbs such as "will," "would," "should," "could" or "may." Although we believe the assumptions upon which these forward-looking statements are based are reasonable, any of these assumptions could prove to be inaccurate and the forward-looking statements based on these assumptions could be incorrect. The matters discussed in these forward-looking statements are subject to various risks, uncertainties and other factors that could cause actual results and trends to differ materially from those made, projected or implied in or by the forward-looking statements depending on a variety of uncertainties or other factors including, but not limited to: credit losses and the credit risk of our commercial and consumer loan products; changes in the level of charge-offs and changes in estimates of the adequacy of the allowance for credit losses, or ACL; cybersecurity concerns; rapid technological developments and changes, including the use of artificial intelligence and digital assets; operational risks or risk management failures by us or critical third parties, including fraud risk; our ability to manage our brand risks; sensitivity to the interest rate environment, a rapid increase in interest rates or a change in the shape of the yield curve; a change in spreads on interest-earning assets and interest-bearing liabilities; regulatory supervision and oversight, including changes in regulatory capital requirements and our ability to address those requirements; unanticipated changes in our liquidity position; unanticipated changes in regulatory and governmental policies impacting interest rates and financial markets; changes in accounting policies, practices or guidance; legislation affecting the financial services industry as a whole, and S&T, in particular; developments affecting the industry and the soundness of financial institutions and further disruption to the economy and U.S. banking system; the outcome of pending and future litigation and governmental proceedings; increasing price and product/service competition; the ability to continue to introduce competitive new products and services on a timely, cost-effective basis; managing our internal growth and acquisitions; the possibility that the anticipated benefits from acquisitions cannot be fully realized in a timely manner or at all, or that integrating the acquired operations will be more difficult, disruptive or costly than anticipated; containing costs and expenses; reliance on significant customer relationships; an interruption or cessation of an important service by a third-party provider; our ability to attract and retain talented executives and other employees; general economic or business conditions, including the strength of regional economic conditions in our market area; ESG practices and disclosures, including climate change, hiring practices, the diversity of the work force and racial and social justice issues; deterioration of the housing market and reduced demand for mortgages; deterioration in the overall macroeconomic conditions or the state of the banking industry that could warrant further analysis of the carrying value of goodwill and could result in an adjustment to its carrying value resulting in a non-cash charge to net income; the stability of our core deposit base and access to contingency funding; re-emergence of turbulence in significant portions of the global financial and real estate markets that could impact our performance, both directly, by affecting our revenues and the value of our assets and liabilities, and indirectly, by affecting the economy generally and access to capital in the amounts, at the times and on the terms required to support our future businesses and geopolitical tensions and conflicts between nations.

Many of these factors, as well as other factors, are described in our Annual Report on Form 10-K for the year ended December 31, 2025, including Part I, Item 1A-"Risk Factors" and any of our subsequent filings with the SEC. Forward-looking statements are based on beliefs and assumptions using information available at the time the statements are made. We caution you not to unduly rely on forward-looking statements because the assumptions, beliefs, expectations and projections about future events may, and often do, differ materially from actual results. Any forward-looking statement speaks only as to the date on which it is made, and we undertake no obligation to update any forward-looking statement to reflect developments occurring after the statement is made.

Non-GAAP Financial Measures

In addition to traditional measures presented in accordance with GAAP, our management uses, and this information contains or references, certain non-GAAP financial measures, such as tangible book value, return on average tangible shareholders' equity, PPNR to average assets, efficiency ratio on an FTE basis, tangible common equity to tangible assets and net interest margin on an FTE basis. We believe these non-GAAP financial measures provide information useful to investors in understanding our underlying operational performance and our business and performance trends as they facilitate comparisons with the performance of other companies in the financial services industry. Although we believe that these non-GAAP financial measures enhance investors' understanding of our business and performance, these non-GAAP financial measures should not be considered alternatives to GAAP or considered to be more important than financial results determined in accordance with GAAP, nor are they necessarily comparable with non-GAAP measures which may be presented by other companies. See Definitions and Reconciliation of GAAP to Non-GAAP Financial Measures for more information related to these financial measures.

S&T Bancorp, Inc.
Consolidated Selected Financial Data
Unaudited

2026

2026

2025

Second

First

Second

(dollars in thousands, except per share data)

Quarter

Quarter

Quarter

INTEREST AND DIVIDEND INCOME

Loans, including fees

$116,960

$115,294

$117,696

Investment Securities:

Taxable

10,756

10,760

10,846

Tax-exempt

34

34

35

Dividends

309

245

329

Total Interest and Dividend Income

128,059

126,333

128,906

INTEREST EXPENSE

Deposits

35,399

35,686

39,056

Borrowings, junior subordinated debt securities and other

2,280

2,211

3,278

Total Interest Expense

37,679

37,897

42,334

NET INTEREST INCOME

90,380

88,436

86,572

Provision for credit losses

1,112

1,327

1,974

Net Interest Income After Provision for Credit Losses

89,268

87,109

84,598

NONINTEREST INCOME

Gain on sale of securities

169

—

—

Debit and credit card

4,695

4,283

4,588

Service charges on deposit accounts

4,290

4,196

4,090

Investment services and trust

3,563

3,369

3,042

Other

2,143

1,794

1,780

Total Noninterest Income

14,860

13,642

13,500

NONINTEREST EXPENSE

Salaries and employee benefits

32,680

31,356

32,907

Data processing and information technology

5,163

5,158

4,847

Occupancy

4,074

4,592

4,024

Furniture, equipment and software

3,524

3,492

3,352

Marketing

1,876

1,467

1,490

Other taxes

1,773

2,063

2,088

Professional services and legal

1,286

1,245

1,739

FDIC insurance

1,074

1,073

1,062

Other noninterest expense

7,214

6,261

6,605

Total Noninterest Expense

58,664

56,707

58,114

Income Before Taxes

45,464

44,044

39,984

Income tax expense

8,821

8,972

8,084

Net Income

$36,643

$35,072

$31,900

Per Share Data

Shares outstanding at end of period

35,264,936

36,259,649

38,345,448

Average shares outstanding - diluted

36,010,449

37,177,888

38,637,400

Diluted earnings per share

$1.02

$0.94

$0.83

Dividends declared per share

$0.37

$0.36

$0.34

Dividend yield (annualized)

3.02 %

3.44 %

3.60 %

Dividends paid to net income

36.40 %

38.09 %

41.30 %

Book value

$39.81

$39.46

$37.70

Tangible book value (non-GAAP)(1)

$29.18

$29.11

$27.90

Market value

$49.08

$41.83

$37.82

Profitability Ratios (Annualized)

Return on average assets

1.49 %

1.44 %

1.32 %

Return on average shareholders' equity

10.37 %

9.77 %

8.91 %

Return on average tangible shareholders' equity (non-GAAP)(2)

14.15 %

13.22 %

12.12 %

Pre-provision net revenue / average assets (non-GAAP)(3)

1.89 %

1.87 %

1.73 %

Efficiency ratio (FTE) (non-GAAP)(4)

55.52 %

55.23 %

57.73 %

S&T Bancorp, Inc.
Consolidated Selected Financial Data
Unaudited

Six Months Ended June 30,

(dollars in thousands, except per share data)

2026

2025

INTEREST AND DIVIDEND INCOME

Loans, including fees

$232,254

$232,036

Investment Securities:

Taxable

21,516

20,919

Tax-exempt

68

192

Dividends

554

607

Total Interest and Dividend Income

254,392

253,754

INTEREST EXPENSE

Deposits

71,085

77,410

Borrowings, junior subordinated debt securities and other

4,491

6,449

Total Interest Expense

75,576

83,859

NET INTEREST INCOME

178,816

169,895

Provision for credit losses

2,439

(1,066)

Net Interest Income After Provision for Credit Losses

176,377

170,961

NONINTEREST INCOME

Gain (loss) on sale of securities

169

(2,295)

Debit and credit card

8,978

8,776

Service charges on deposit accounts

8,486

8,052

Investment services and trust

6,932

6,126

Other

3,937

3,270

Total Noninterest Income

28,502

23,929

NONINTEREST EXPENSE

Salaries and employee benefits

64,036

62,760

Data processing and information technology

10,321

9,777

Occupancy

8,666

8,326

Furniture, equipment and software

7,016

6,835

Other Taxes

3,836

3,582

Marketing

3,343

3,105

Professional services and legal

2,531

3,025

FDIC insurance

2,147

2,102

Other noninterest expense

13,475

13,693

Total Noninterest Expense

115,371

113,205

Income Before Taxes

89,508

81,685

Income tax expense

17,793

16,384

Net Income

$71,715

$65,301

Per Share Data

Average shares outstanding - diluted

36,591,021

38,618,741

Diluted earnings per share

$1.96

$1.69

Dividends declared per share

$0.73

$0.68

Dividends paid to net income

37.23 %

40.11 %

Profitability Ratios (annualized)

Return on average assets

1.47 %

1.36 %

Return on average shareholders' equity

10.07 %

9.28 %

Return on average tangible shareholders' equity (non-GAAP)(5)

13.68 %

12.69 %

Pre-provision net revenue / average assets (non-GAAP)(6)

1.88 %

1.73 %

Efficiency ratio (FTE) (non-GAAP)(7)

55.38 %

57.37 %

S&T Bancorp, Inc.
Consolidated Selected Financial Data
Unaudited

2026

2026

2025

Second

First

Second

(dollars in thousands)

Quarter

Quarter

Quarter

ASSETS

Cash and due from banks

$217,819

$339,059

$203,118

Securities available for sale, at fair value

1,013,305

1,009,518

1,021,183

Loans held for sale

4,695

694

—

Commercial loans:

Commercial real estate

3,485,893

3,532,106

3,520,294

Commercial and industrial

1,590,086

1,511,082

1,512,027

Commercial construction

475,450

404,012

397,785

Total Commercial Loans

5,551,429

5,447,200

5,430,106

Consumer loans:

Residential mortgage

1,674,052

1,689,731

1,678,992

Home equity

727,702

711,235

681,143

Installment and other consumer

80,086

83,951

100,177

Consumer construction

25,117

27,265

44,016

Total Consumer Loans

2,506,957

2,512,182

2,504,328

Total Portfolio Loans

8,058,386

7,959,382

7,934,434

Allowance for credit losses

(93,320)

(93,271)

(98,580)

Total Portfolio Loans, Net

7,965,066

7,866,111

7,835,854

Federal Home Loan Bank and other restricted stock, at cost

16,796

11,724

15,817

Goodwill

373,424

373,424

373,424

Other Intangible assets, net

1,887

2,069

2,656

Other assets

351,021

341,404

358,017

Total Assets

$9,944,013

$9,944,003

$9,810,069

LIABILITIES

Deposits:

Noninterest-bearing demand

$2,256,542

$2,273,411

$2,182,346

Interest-bearing demand

769,495

784,326

738,251

Money market

2,183,937

2,264,777

2,236,298

Savings

881,967

883,213

879,254

Certificates of deposit

1,994,142

1,979,492

1,884,771

Total Deposits

8,086,083

8,185,219

7,920,920

Borrowings:

Short-term borrowings

200,000

50,000

150,000

Long-term borrowings

25,773

50,794

50,856

Junior subordinated debt securities

49,508

49,493

49,448

Total Borrowings

275,281

150,287

250,304

Other liabilities

178,834

177,816

193,352

Total Liabilities

8,540,198

8,513,322

8,364,576

SHAREHOLDERS' EQUITY

Total Shareholders' Equity

1,403,815

1,430,681

1,445,493

Total Liabilities and Shareholders' Equity

$9,944,013

$9,944,003

$9,810,069

Capitalization Ratios

Shareholders' equity / assets

14.12 %

14.39 %

14.73 %

Tangible common equity / tangible assets (non-GAAP)(9)

10.75 %

11.03 %

11.34 %

Tier 1 leverage ratio

11.58 %

11.82 %

12.18 %

Common equity tier 1 capital

13.64 %

14.18 %

14.59 %

Risk-based capital - tier 1

13.95 %

14.49 %

14.91 %

Risk-based capital - total

15.51 %

16.06 %

16.48 %

S&T Bancorp, Inc.

Consolidated Selected Financial Data

Unaudited

2026

2026

2025

Second

First

Second

(dollars in thousands)

Quarter

Quarter

Quarter

Net Interest Margin (FTE) (non-GAAP) (QTD Averages)

ASSETS

Interest-bearing deposits with banks

$127,429

3.69 %

$153,396

3.70 %

$120,156

4.46 %

Securities, at fair value

1,007,484

3.83 %

997,037

3.78 %

1,011,629

3.79 %

Loans held for sale

2,034

6.47 %

1,002

6.57 %

—

— %

Commercial real estate

3,503,981

5.90 %

3,579,903

5.80 %

3,477,321

5.88 %

Commercial and industrial

1,555,118

6.18 %

1,513,557

6.25 %

1,519,133

6.71 %

Commercial construction

433,427

6.40 %

387,412

6.42 %

382,363

6.94 %

Total Commercial Loans

5,492,526

6.02 %

5,480,872

5.97 %

5,378,817

6.19 %

Residential mortgage

1,672,326

5.39 %

1,701,695

5.37 %

1,674,231

5.26 %

Home equity

720,484

5.91 %

707,856

5.90 %

670,066

6.37 %

Installment and other consumer

82,452

7.43 %

87,693

7.39 %

99,550

7.88 %

Consumer construction

27,370

6.61 %

30,124

6.69 %

41,025

6.82 %

Total Consumer Loans

2,502,632

5.62 %

2,527,368

5.61 %

2,484,872

5.69 %

Total Portfolio Loans

7,995,158

5.89 %

8,008,240

5.86 %

7,863,689

6.03 %

Total Loans

7,997,192

5.89 %

8,009,242

5.86 %

7,863,689

6.03 %

Total other earning assets

13,772

8.40 %

12,806

7.07 %

16,537

7.70 %

Total Interest-earning Assets

9,145,877

5.64 %

9,172,481

5.60 %

9,012,011

5.76 %

Noninterest-earning assets

694,086

692,974

712,891

Total Assets

$9,839,963

$9,865,455

$9,724,902

LIABILITIES AND SHAREHOLDERS' EQUITY

Interest-bearing demand

$777,216

0.94 %

$778,502

0.93 %

$763,687

1.01 %

Money market

2,185,936

2.57 %

2,245,922

2.60 %

2,188,771

3.04 %

Savings

879,391

0.67 %

873,304

0.65 %

880,448

0.69 %

Certificates of deposit

1,994,523

3.64 %

1,965,807

3.73 %

1,872,329

4.07 %

Total Interest-bearing Deposits

5,837,066

2.43 %

5,863,535

2.47 %

5,705,235

2.75 %

Short-term borrowings

106,209

3.86 %

74,162

3.99 %

135,659

4.63 %

Long-term borrowings

25,783

3.76 %

50,805

3.80 %

50,866

3.80 %

Junior subordinated debt securities

49,499

6.47 %

49,485

6.53 %

49,439

7.12 %

Total Borrowings

181,491

4.56 %

174,452

4.66 %

235,964

4.97 %

Total Other Interest-bearing Liabilities

23,602

3.69 %

22,862

3.69 %

32,202

4.39 %

Total Interest-bearing Liabilities

6,042,159

2.50 %

6,060,849

2.54 %

5,973,401

2.84 %

Noninterest-bearing liabilities

2,379,939

2,348,924

2,315,213

Shareholders' equity

1,417,865

1,455,682

1,436,288

Total Liabilities and Shareholders' Equity

$9,839,963

$9,865,455

$9,724,902

Net Interest Margin (FTE) (non-GAAP)(10)

3.99 %

3.92 %

3.88 %

S&T Bancorp, Inc.
Consolidated Selected Financial Data
Unaudited

Six Months Ended June 30,

(dollars in thousands)

2026

2025

Net Interest Margin (FTE) (non-GAAP) (YTD Averages)

ASSETS

Interest-bearing deposits with banks

$140,341

3.70 %

$124,423

4.46 %

Securities, at fair value

1,002,289

3.81 %

1,001,080

3.69 %

Loans held for sale

1,521

6.49 %

—

— %

Commercial real estate

3,541,732

5.85 %

3,436,686

5.85 %

Commercial and industrial

1,534,452

6.21 %

1,527,139

6.70 %

Commercial construction

410,547

6.41 %

378,643

6.94 %

Total Commercial Loans

5,486,731

5.99 %

5,342,468

6.17 %

Residential mortgage

1,686,930

5.38 %

1,667,242

5.23 %

Home equity

714,205

5.90 %

661,636

6.34 %

Installment and other consumer

85,058

7.41 %

99,476

7.93 %

Consumer construction

28,739

6.66 %

43,080

6.84 %

Total Consumer Loans

2,514,932

5.61 %

2,471,434

5.67 %

Total Portfolio Loans

8,001,663

5.87 %

7,813,902

6.01 %

Total Loans

8,003,184

5.87 %

7,813,902

6.01 %

Total other earning assets

13,291

7.76 %

16,652

7.21 %

Total Interest-earning Assets

9,159,105

5.62 %

8,956,057

5.73 %

Noninterest-earning assets

693,534

719,996

Total Assets

$9,852,639

$9,676,053

LIABILITIES AND SHAREHOLDERS' EQUITY

Interest-bearing demand

$777,855

0.93 %

$771,455

1.01 %

Money market

2,215,763

2.59 %

2,138,836

3.01 %

Savings

876,365

0.66 %

882,531

0.68 %

Certificates of deposit

1,980,244

3.68 %

1,866,616

4.18 %

Total Interest-bearing deposits

5,850,227

2.45 %

5,659,438

2.76 %

Short-term borrowings

90,274

3.92 %

126,740

4.63 %

Long-term borrowings

38,225

3.79 %

50,876

3.80 %

Junior subordinated debt securities

49,492

6.50 %

49,431

7.15 %

Total Borrowings

177,991

4.61 %

227,047

4.99 %

Total Other Interest-bearing Liabilities

23,234

3.69 %

38,032

4.39 %

Total Interest-bearing Liabilities

6,051,452

2.52 %

5,924,517

2.85 %

Noninterest-bearing liabilities

2,364,518

2,332,795

Shareholders' equity

1,436,669

1,418,741

Total Liabilities and Shareholders' Equity

$9,852,639

$9,676,053

Net Interest Margin (FTE) (non-GAAP)(8)

3.95 %

3.84 %

S&T Bancorp, Inc.
Consolidated Selected Financial Data
Unaudited

2026

2026

2025

Second

First

Second

(dollars in thousands)

Quarter

Quarter

Quarter

Nonaccrual Loans

Commercial loans:

% Loans

% Loans

% Loans

Commercial real estate

$9,354

0.27 %

$17,764

0.50 %

$3,967

0.11 %

Commercial and industrial

16,836

1.06 %

18,607

1.23 %

5,459

0.36 %

Commercial construction

—

— %

869

0.22 %

869

0.22 %

Total Nonaccrual Commercial Loans

26,190

0.47 %

37,240

0.68 %

10,295

0.19 %

Consumer loans:

Residential mortgage

10,027

0.60 %

8,950

0.53 %

7,239

0.43 %

Home equity

3,859

0.53 %

3,618

0.51 %

3,593

0.53 %

Installment and other consumer

140

0.18 %

141

0.17 %

185

0.18 %

Total Nonaccrual Consumer Loans

14,026

0.56 %

12,709

0.51 %

11,017

0.44 %

Total Nonaccrual Loans

$40,216

0.50 %

$49,949

0.63 %

$21,312

0.27 %

2026

2026

2025

Second

First

Second

(dollars in thousands)

Quarter

Quarter

Quarter

Loan Charge-offs (Recoveries)

Charge-offs

$1,236

$1,935

$1,656

Recoveries

(241)

(248)

(498)

Net Loan Charge-offs

$995

$1,687

$1,158

Net Loan Charge-offs (Recoveries)

Commercial loans:

Commercial real estate

$249

$492

($16)

Commercial and industrial

614

175

331

Commercial construction

69

—

89

Total Commercial Loan Charge-offs

932

667

404

Consumer loans:

Residential mortgage

223

27

13

Home equity

74

236

160

Installment and other consumer

(234)

757

581

Total Consumer Loan Charge-offs

63

1,020

754

Total Net Loan Charge-offs

$995

$1,687

$1,158

S&T Bancorp, Inc.
Consolidated Selected Financial Data
Unaudited

Six Months Ended June 30,

(dollars in thousands)

2026

2025

Loan Charge-offs (Recoveries)

Charge-offs

$3,171

$2,540

Recoveries

(489)

(1,409)

Net Loan Charge-offs

$2,682

$1,131

Net Loan Charge-offs

Commercial loans:

Commercial real estate

$741

($162)

Commercial and industrial

789

485

Commercial construction

69

119

Total Commercial Loan Charge-offs

1,599

442

Consumer loans:

Residential mortgage

250

26

Home equity

310

179

Installment and other consumer

523

484

Total Consumer Loan Charge-offs

1,083

689

Total Net Loan Charge-offs

$2,682

$1,131

2026

2026

2025

Second

First

Second

(dollars in thousands)

Quarter

Quarter

Quarter

Asset Quality Data

Nonaccrual loans

$40,216

$49,949

$21,312

OREO

—

—

—

Total nonperforming assets

40,216

49,949

21,312

Nonaccrual loans / total loans

0.50 %

0.63 %

0.27 %

Nonperforming assets / total loans plus OREO

0.50 %

0.63 %

0.27 %

Allowance for credit losses / total portfolio loans

1.16 %

1.17 %

1.24 %

Allowance for credit losses / nonaccrual loans

232 %

187 %

463 %

Net loan charge-offs

$995

$1,687

$1,158

Net loan charge-offs (annualized) / average loans

0.05 %

0.09 %

0.06 %

Six Months Ended June 30,

(dollars in thousands)

2026

2025

Asset Quality Data

Net loan charge-offs

$2,682

$1,131

Net loan charge-offs (annualized) / average loans

0.07 %

0.03 %

S&T Bancorp, Inc.
Consolidated Selected Financial Data
Unaudited

Definitions and Reconciliation of GAAP to Non-GAAP Financial Measures:

2026

2026

2025

Second

First

Second

(dollars in thousands, except per share data)

Quarter

Quarter

Quarter

(1) Tangible Book Value (non-GAAP)

Total shareholders' equity

$1,403,815

$1,430,681

$1,445,493

Less: goodwill and other intangible assets, net of deferred tax liability

(374,915)

(375,059)

(375,522)

Tangible common equity (non-GAAP)

$1,028,900

$1,055,622

$1,069,971

Common shares outstanding

35,264,936

36,259,649

38,345,448

Tangible book value (non-GAAP)

$29.18

$29.11

$27.90

Tangible book value is a preferred industry metric used to measure our company's value and commonly used by investors and analysts.

(2) Return on Average Tangible Shareholders' Equity (non-GAAP)

Net income (annualized)

$146,975

$142,236

$127,951

Plus: amortization of intangibles (annualized), net of tax

577

583

653

Net income before amortization of intangibles (annualized)

$147,552

$142,819

$128,604

Average total shareholders' equity

$1,417,865

$1,455,682

$1,436,288

Less: average goodwill and other intangible assets, net of deferred tax liability

(374,991)

(375,136)

(375,572)

Average tangible equity (non-GAAP)

$1,042,874

$1,080,546

$1,060,716

Return on average tangible shareholders' equity (non-GAAP)

14.15 %

13.22 %

12.12 %

Return on average tangible shareholders' equity is a preferred industry profitability metric used by management, as well as investors and analysts, to measure
financial performance.

(3) Pre-provision Net Revenue / Average Assets (non-GAAP)

Income before taxes

$45,464

$44,044

$39,984

Plus: net (gain) loss on sale of securities and VISA Class B-2 exchange

(169)

—

—

Plus: Provision for credit losses

1,112

1,327

1,974

Total

$46,407

$45,371

$41,958

Total (annualized) (non-GAAP)

$186,138

$184,005

$168,293

Average assets

$9,839,963

$9,865,455

$9,724,902

Pre-provision Net Revenue / Average Assets (non-GAAP)

1.89 %

1.87 %

1.73 %

Pre-provision net revenue to average assets is income before taxes adjusted to exclude provision for credit losses, losses (gains) on sale of securities and gain on Visa
exchange. We believe this to be a preferred industry measurement to help management, as well as investors and analysts, evaluate our ability to fund credit losses
or build capital.

(4) Efficiency Ratio (FTE) (non-GAAP)

Noninterest expense

$58,664

$56,707

$58,114

Net interest income per consolidated statements of net income

$90,380

$88,436

$86,572

Plus: taxable equivalent adjustment

584

590

590

Net interest income (FTE) (non-GAAP)

90,964

89,026

87,162

Noninterest income

14,860

13,642

13,500

Plus: net (gain) loss on sale of securities and VISA Class B-2 exchange

(169)

—

—

Net interest income (FTE) (non-GAAP) plus noninterest income

$105,655

$102,668

$100,662

Efficiency ratio (FTE) (non-GAAP)

55.52 %

55.23 %

57.73 %

The efficiency ratio is noninterest expense divided by noninterest income plus net interest income, on an FTE basis (non-GAAP), adjusted to exclude losses (gains) on
sale of securities and gain on Visa exchange. We believe the FTE basis ensures comparability of net interest income arising from both taxable and tax-exempt sources
and is consistent with industry practice.

S&T Bancorp, Inc.
Consolidated Selected Financial Data
Unaudited

Six Months Ended June 30,

(dollars in thousands)

2026

2025

(5) Return on Average Tangible Shareholders' Equity (non-GAAP)

Net income (annualized)

$144,619

$131,684

Plus: amortization of intangibles (annualized), net of tax

580

712

Net income before amortization of intangibles (annualized)

$145,199

$132,396

Average total shareholders' equity

$1,436,669

$1,418,741

Less: average goodwill and other intangible assets, net of deferred tax liability

(375,063)

(375,656)

Average tangible equity (non-GAAP)

$1,061,606

$1,043,085

Return on average tangible shareholders' equity (non-GAAP)

13.68 %

12.69 %

Return on average tangible shareholders' equity is a preferred industry profitability metric used by management, as well as investors and analysts, to measure
financial performance.

(6) Pre-provision Net Revenue / Average Assets (non-GAAP)

Income before taxes

$89,508

$81,685

Plus: net loss (gain) on sale of securities and VISA Class B-2 exchange

(169)

2,295

Plus: Provision for credit losses

2,439

(1,066)

Total (non-GAAP)

$91,778

$82,914

Total (annualized) (non-GAAP)

$185,077

$167,202

Average assets

$9,852,639

$9,676,053

Pre-provision Net Revenue / Average Assets (non-GAAP)

1.88 %

1.73 %

Pre-provision net revenue to average assets is income before taxes adjusted to exclude provision for credit losses, losses (gains) on sale of securities and gain on Visa
exchange. We believe this to be a preferred industry measurement, to help management, as well as investors and analysts, evaluate our ability to fund credit losses
or build capital.

(7) Efficiency Ratio (FTE) (non-GAAP)

Noninterest expense

$115,371

$113,205

Net interest income per consolidated statements of net income

$178,816

$169,895

Plus: taxable equivalent adjustment

1,174

1,208

Net interest income (FTE) (non-GAAP)

179,990

171,103

Noninterest income

28,502

23,929

Plus: net loss (gain) on sale of securities and VISA Class B-2 exchange

(169)

2,295

Net interest income (FTE) (non-GAAP) plus noninterest income

$208,323

$197,327

Efficiency ratio (FTE) (non-GAAP)

55.38 %

57.37 %

The efficiency ratio is noninterest expense divided by noninterest income plus net interest income, on an FTE basis (non-GAAP), adjusted to exclude losses (gains) on
sale of securities and gain on Visa exchange. We believe the FTE basis ensures comparability of net interest income arising from both taxable and tax-exempt sources
and is consistent with industry practice.

(8) Net Interest Margin (FTE) (non-GAAP)

Interest income and dividend income

$254,392

$253,754

Less: interest expense

(75,576)

(83,859)

Net interest income per consolidated statements of net income

178,816

169,895

Plus: taxable equivalent adjustment

1,174

1,208

Net interest income (FTE) (non-GAAP)

$179,990

$171,103

Net interest income (FTE) (annualized)

$362,963

$345,042

Average interest-earning assets

$9,159,105

$8,956,057

Net interest margin - (FTE) (non-GAAP)

3.95 %

3.84 %

The interest income on interest-earning assets, net interest income and net interest margin are presented on an FTE basis (non-GAAP). The FTE basis (non-GAAP)
adjusts for the tax benefit of income on certain tax-exempt loans and securities and the dividend-received deduction for equity securities using the federal statutory
tax rate of 21 percent for each period. We believe this to be the preferred industry measurement of net interest income that provides a relevant comparison between
taxable and non-taxable sources of interest income.

S&T Bancorp, Inc.
Consolidated Selected Financial Data
Unaudited

Definitions and Reconciliation of GAAP to Non-GAAP Financial Measures:

2026

2026

2025

Second

First

Second

(dollars in thousands)

Quarter

Quarter

Quarter

(9) Tangible Common Equity / Tangible Assets (non-GAAP)

Total shareholders' equity

$1,403,815

$1,430,681

$1,445,493

Less: goodwill and other intangible assets, net of deferred tax liability

(374,915)

(375,059)

(375,522)

Tangible common equity (non-GAAP)

$1,028,900

$1,055,622

$1,069,971

Total assets

$9,944,013

$9,944,003

$9,810,069

Less: goodwill and other intangible assets, net of deferred tax liability

(374,915)

(375,059)

(375,522)

Tangible assets (non-GAAP)

$9,569,098

$9,568,944

$9,434,547

Tangible common equity to tangible assets (non-GAAP)

10.75 %

11.03 %

11.34 %

Tangible common equity to tangible assets is a preferred industry measurement to evaluate capital adequacy.

(10) Net Interest Margin (FTE) (non-GAAP)

Interest income and dividend income

$128,059

$126,333

$128,906

Less: interest expense

(37,679)

(37,897)

(42,334)

Net interest income per consolidated statements of net income

90,380

88,436

86,572

Plus: taxable equivalent adjustment

584

590

590

Net interest income (FTE) (non-GAAP)

$90,964

$89,026

$87,162

Net interest income (FTE) (annualized)

$364,856

$361,050

$349,606

Average interest-earning assets

$9,145,877

$9,172,481

$9,012,011

Net interest margin (FTE) (non-GAAP)

3.99 %

3.92 %

3.88 %

The interest income on interest-earning assets, net interest income and net interest margin are presented on an FTE basis (non-GAAP). The FTE basis (non-GAAP)
adjusts for the tax benefit of income on certain tax-exempt loans and securities and the dividend-received deduction for equity securities using the federal statutory
tax rate of 21 percent for each period. We believe this to be the preferred industry measurement of net interest income that provides a relevant comparison between
taxable and non-taxable sources of interest income.

SOURCE S&T Bancorp, Inc.