COMMUNITY FINANCIAL SYSTEM, INC. 10-Q

Item 1. Financial Statements COMMUNITY FINANCIAL SYSTEM, INC. CONSOLIDATED STATEMENTS OF CONDITION (Unaudited) (In Thousands, Except Share Data) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ ​ 2026 ​ ​ ​ 2025 Assets: ​ ​ ​ ​ ​ Cash and cash equivalents (includes restricted cash of $ 14,760 ) ​ $ 572,173 ​ $ 301,755 Available-for-sale investment securities, includes pledged securities that can be sold or repledged of $ 317,188 and $ 319,478 , respectively (cost of $ 3,132,920 and $ 3,148,728 , respectively) ​ 2,848,132 ​ 2,875,341 Held-to-maturity securities (fair value of $ 1,362,112 and $ 1,370,464 , respectively) ​ ​ 1,460,750 ​ ​ 1,454,166 Equity and other securities ​ 81,717 ​ 77,252 ​ ​ ​ ​ ​ ​ ​ Loans ​ 11,131,184 ​ 10,949,757 Allowance for credit losses ​ ( 90,193 ) ​ ( 87,921 ) Loans, net of allowance for credit losses ​ 11,040,991 ​ 10,861,836 ​ ​ ​ ​ ​ ​ Goodwill ​ 889,347 ​ 887,975 Core deposit intangibles, net ​ 13,705 ​ 14,754 Other intangibles, net ​ 40,262 ​ 39,987 Goodwill and intangible assets, net ​ 943,314 ​ 942,716 ​ ​ ​ ​ ​ ​ ​ Premises and equipment, net ​ ​ 247,445 ​ ​ 246,505 Accrued interest and fees receivable ​ 56,559 ​ 57,734 Equity method investments ​ ​ 36,739 ​ ​ 37,065 Other assets ​ 457,039 ​ 448,926 ​ ​ ​ ​ ​ ​ ​ Total assets ​ $ 17,744,859 ​ $ 17,303,296 ​ ​ ​ ​ ​ Liabilities: ​ ​ ​ ​ ​ ​ Noninterest-bearing deposits ​ $ 3,732,720 ​ $ 3,683,442 Interest-bearing deposits ​ 11,137,402 ​ 10,703,643 Total deposits ​ 14,870,122 ​ 14,387,085 ​ ​ ​ ​ ​ ​ ​ Securities sold under agreement to repurchase, short-term ​ 201,027 ​ 231,163 Federal Home Loan Bank and other borrowings ​ 446,319 ​ 458,770 Accrued interest and other liabilities ​ 203,399 ​ 220,244 Total liabilities ​ 15,720,867 ​ 15,297,262 ​ ​ ​ ​ ​ Commitments and contingencies (See Note H) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Shareholders’ equity: ​ ​ ​ ​ ​ ​ Preferred stock, $ 1.00 par value, 500,000 shares authorized, 0 shares issued ​ 0 ​ 0 Common stock, $ 1.00 par value, 75,000,000 shares authorized; 54,997,492 and 54,907,426 shares issued, respectively ​ 54,997 ​ 54,907 Additional paid in capital ​ 1,094,103 ​ 1,088,047 Retained earnings ​ 1,420,143 ​ 1,387,636 Accumulated other comprehensive loss ​ ( 423,992 ) ​ ( 418,990 ) Treasury stock, at cost ( 2,460,071 shares, including 79,341 shares held by deferred compensation arrangements at March 31, 2026, and 2,225,209 shares including 94,479 shares held by deferred compensation arrangements at December 31, 2025) ​ ( 125,791 ) ​ ( 110,945 ) Deferred compensation arrangements ( 79,341 and 94,479 shares, respectively) ​ 4,532 ​ 5,379 Total shareholders’ equity ​ 2,023,992 ​ 2,006,034 ​ ​ ​ ​ ​ ​ ​ Total liabilities and shareholders’ equity ​ $ 17,744,859 ​ $ 17,303,296 ​ See accompanying notes to consolidated financial statements (unaudited). ​ 3 Table of Contents COMMUNITY FINANCIAL SYSTEM, INC. CONSOLIDATED STATEMENTS OF INCOME (Unaudited) (In Thousands, Except Per-Share Data) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ March 31, ​ ​ ​ ​ 2026 ​ ​ ​ 2025 Interest income: ​ ​ ​ ​ Interest and fees on loans ​ $ 154,378 ​ $ 142,904 Interest and dividends on taxable investments ​ 22,887 ​ 21,969 Interest and dividends on nontaxable investments ​ 2,722 ​ 2,774 Total interest income ​ 179,987 ​ 167,647 ​ ​ ​ ​ ​ ​ ​ Interest expense: ​ ​ ​ ​ Interest on deposits ​ 39,373 ​ 39,286 Interest on borrowings ​ 5,902 ​ 8,149 Total interest expense ​ 45,275 ​ 47,435 ​ ​ ​ ​ ​ ​ ​ Net interest income ​ 134,712 ​ 120,212 Provision for credit losses ​ 5,636 ​ 6,690 Net interest income after provision for credit losses ​ 129,076 ​ 113,522 ​ ​ ​ ​ ​ ​ ​ Noninterest revenues: ​ ​ ​ ​ Deposit service fees ​ 15,917 ​ 14,306 Mortgage banking ​ 1,100 ​ 998 Other banking services ​ 4,794 ​ 3,802 Employee benefit services ​ 34,572 ​ 32,622 Insurance services ​ 12,586 ​ 14,201 Wealth management services ​ ​ 10,332 ​ ​ 9,862 Unrealized (loss) gain on equity securities ​ ​ ( 401 ) ​ ​ 245 Loss from equity method investments ​ ​ ( 326 ) ​ ​ 0 Total noninterest revenues ​ 78,574 ​ 76,036 ​ ​ ​ ​ ​ ​ ​ Noninterest expenses: ​ ​ ​ ​ Salaries and employee benefits ​ 80,322 ​ 76,442 Data processing and communications ​ 17,871 ​ 16,122 Occupancy and equipment ​ 14,882 ​ 12,698 Business development and marketing ​ 2,535 ​ 3,130 Legal and professional fees ​ ​ 5,070 ​ ​ 4,849 Amortization of intangible assets ​ ​ 4,246 ​ ​ 3,482 Other expenses ​ ​ 8,110 ​ 8,567 Total noninterest expenses ​ ​ 133,036 ​ 125,290 ​ ​ ​ ​ ​ ​ ​ Income before income taxes ​ ​ 74,614 ​ 64,268 Income taxes ​ ​ 17,396 ​ 14,654 Net income ​ $ 57,218 ​ $ 49,614 ​ ​ ​ ​ ​ ​ ​ Basic earnings per share ​ $ 1.08 ​ $ 0.94 Diluted earnings per share ​ $ 1.08 ​ $ 0.93 ​ See accompanying notes to consolidated financial statements (unaudited). 4 Table of Contents COMMUNITY FINANCIAL SYSTEM, INC. CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) (In Thousands) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ March 31, ​ ​ ​ ​ 2026 ​ ​ ​ 2025 Pension and other post-retirement obligations: ​ ​ ​ ​ Amortization of actuarial losses (gains) included in net periodic pension cost, gross ​ $ 6 ​ $ ( 51 ) Tax effect ​ ( 2 ) ​ 13 Amortization of actuarial losses (gains) included in net periodic pension cost, net ​ 4 ​ ​ ( 38 ) ​ ​ ​ ​ ​ ​ ​ Amortization of prior service cost included in net periodic pension cost, gross ​ 85 ​ 112 Tax effect ​ ( 21 ) ​ ( 28 ) Amortization of prior service cost included in net periodic pension cost, net ​ 64 ​ 84 ​ ​ ​ ​ ​ ​ ​ Other comprehensive income related to pension and other post-retirement obligations, net of taxes ​ 68 ​ 46 ​ ​ ​ ​ ​ ​ ​ Net unrealized holding (losses) gains on investment securities: ​ ​ ​ ​ Net unrealized holding (losses) gains on investment securities, gross ​ ( 5,444 ) ​ 57,227 Tax effect ​ 1,375 ​ ( 14,302 ) Net unrealized holding (losses) gains on investment securities, net ​ ( 4,069 ) ​ 42,925 ​ ​ ​ ​ ​ ​ ​ Other comprehensive (loss) gain related to unrealized holding (losses) gains on investment securities, net of taxes ​ ( 4,069 ) ​ 42,925 ​ ​ ​ ​ ​ ​ ​ Derivatives designated as hedging instruments: ​ ​ ​ ​ ​ ​ Net unrealized losses on cash flow hedges, gross ​ ​ ( 1,392 ) ​ ​ 0 Tax effect ​ ​ 352 ​ ​ 0 Net unrealized losses on cash flow hedges, net ​ ​ ( 1,040 ) ​ ​ 0 ​ ​ ​ ​ ​ ​ ​ Reclassification adjustment for realized losses included in net income on cash flow hedges, gross ​ ​ 52 ​ ​ 0 Tax effect ​ ​ ( 13 ) ​ ​ 0 Reclassification adjustment for realized losses included in net income on cash flow hedges, net ​ ​ 39 ​ ​ 0 ​ ​ ​ ​ ​ ​ ​ Other comprehensive loss related to cash flow hedges, net of taxes ​ ​ ( 1,001 ) ​ ​ 0 ​ ​ ​ ​ ​ ​ ​ Other comprehensive (loss) income, net of taxes ​ ( 5,002 ) ​ 42,971 Net income ​ 57,218 ​ 49,614 Comprehensive income ​ $ 52,216 ​ $ 92,585 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ ​ March 31, ​ December 31, ​ ​ ​ ​ 2026 ​ ​ ​ 2025 Accumulated Other Comprehensive Loss by Component: ​ ​ ​ ​ ​ ​ Unrecognized prior service cost and net actuarial losses on pension and other post-retirement obligations ​ $ ( 8,461 ) ​ $ ( 8,552 ) Tax effect ​ 2,005 ​ 2,028 Net unrecognized prior service cost and net actuarial losses on pension and other post-retirement obligations ​ ( 6,456 ) ​ ( 6,524 ) ​ ​ ​ ​ ​ ​ ​ Unrealized loss on investment securities ​ ( 548,168 ) ​ ( 542,724 ) Tax effect ​ 131,633 ​ 130,258 Net unrealized loss on investment securities ​ ( 416,535 ) ​ ( 412,466 ) ​ ​ ​ ​ ​ ​ ​ Unrealized loss on cash flow hedges ​ ​ ( 1,340 ) ​ ​ 0 Tax effect ​ ​ 339 ​ ​ 0 Net unrealized loss on cash flow hedges ​ ​ ( 1,001 ) ​ ​ 0 ​ ​ ​ ​ ​ ​ ​ Accumulated other comprehensive loss ​ $ ( 423,992 ) ​ $ ( 418,990 ) ​ See accompanying notes to consolidated financial statements (unaudited). ​ 5 Table of Contents COMMUNITY FINANCIAL SYSTEM, INC. CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY (Unaudited) Three months ended March 31, 2026 and 2025 (In Thousands, Except Share Data) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accumulated ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Common Stock ​ Additional ​ ​ ​ ​ Other ​ ​ ​ ​ Deferred ​ ​ ​ ​ ​ Shares ​ Amount ​ Paid-In ​ Retained ​ Comprehensive ​ Treasury ​ Compensation ​ ​ ​ ​ ​ Outstanding ​ Issued ​ Capital ​ Earnings ​ Loss ​ Stock ​ Arrangements ​ Total Balance at December 31, 2025 52,682,217 ​ $ 54,907 ​ $ 1,088,047 ​ $ 1,387,636 ​ $ ( 418,990 ) ​ $ ( 110,945 ) ​ $ 5,379 ​ $ 2,006,034 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income ​ ​ ​ ​ ​ ​ 57,218 ​ ​ ​ ​ ​ ​ ​ 57,218 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other comprehensive loss, net of tax ​ ​ ​ ​ ​ ​ ​ ​ ( 5,002 ) ​ ​ ​ ​ ​ ( 5,002 ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Dividends declared: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Common, $ 0.47 per share ​ ​ ​ ​ ​ ​ ( 24,711 ) ​ ​ ​ ​ ​ ​ ​ ( 24,711 ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Common stock activity under employee stock plans 90,066 ​ 90 ​ 2,904 ​ ​ ​ ​ ​ ​ ​ ​ ​ 2,994 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Stock-based compensation ​ ​ ​ ​ 2,970 ​ ​ ​ ​ ​ ​ ​ ​ ​ 2,970 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Distribution of stock under deferred compensation arrangements 15,868 ​ ​ ​ 182 ​ ​ ​ ​ ​ ​ ​ 665 ​ ( 847 ) ​ 0 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Treasury stock purchased ​ ( 250,730 ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ( 15,511 ) ​ ​ ​ ​ ​ ( 15,511 ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance at March 31, 2026 52,537,421 ​ $ 54,997 ​ $ 1,094,103 ​ $ 1,420,143 ​ $ ( 423,992 ) ​ $ ( 125,791 ) ​ $ 4,532 ​ $ 2,023,992 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance at December 31, 2024 52,667,836 ​ $ 54,696 ​ $ 1,075,537 ​ $ 1,275,331 ​ $ ( 548,085 ) ​ $ ( 100,539 ) ​ $ 5,895 ​ $ 1,762,835 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income ​ ​ ​ ​ ​ ​ 49,614 ​ ​ ​ ​ ​ ​ ​ 49,614 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other comprehensive income, net of tax ​ ​ ​ ​ ​ ​ ​ ​ 42,971 ​ ​ ​ ​ ​ 42,971 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Dividends declared: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Common, $ 0.46 per share ​ ​ ​ ​ ​ ​ ( 24,287 ) ​ ​ ​ ​ ​ ​ ​ ( 24,287 ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Common stock activity under employee stock plans 156,930 ​ 157 ​ ( 215 ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ( 58 ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Stock-based compensation ​ ​ ​ ​ 3,048 ​ ​ ​ ​ ​ ​ ​ ​ ​ 3,048 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Distribution of stock under deferred compensation arrangements 12,361 ​ ​ ​ ( 117 ) ​ ​ ​ ​ ​ ​ ​ 762 ​ ( 645 ) ​ 0 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Treasury stock purchased ​ ( 820 ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ( 48 ) ​ ​ ​ ​ ​ ( 48 ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance at March 31, 2025 ​ 52,836,307 ​ $ 54,853 ​ $ 1,078,253 ​ $ 1,300,658 ​ $ ( 505,114 ) ​ $ ( 99,825 ) ​ $ 5,250 ​ $ 1,834,075 ​ See accompanying notes to consolidated financial statements (unaudited). ​ ​ ​ ​ ​ ​ ​ 6 Table of Contents COMMUNITY FINANCIAL SYSTEM, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (In Thousands) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ March 31, ​ ​ ​ ​ 2026 ​ ​ ​ 2025 Operating activities: ​ ​ ​ ​ Net income ​ $ 57,218 ​ $ 49,614 Adjustments to reconcile net income to net cash provided by operating activities: ​ ​ ​ ​ Depreciation ​ 5,255 ​ 3,644 Amortization of intangible assets ​ 4,246 ​ 3,482 Net amortization on securities, loans, finance leases and borrowings ​ 3,882 ​ 2,996 Stock-based compensation ​ 2,970 ​ 3,048 Provision for credit losses ​ 5,636 ​ 6,690 Amortization of mortgage servicing rights ​ 208 ​ 194 Unrealized loss (gain) on equity securities ​ ​ 401 ​ ​ ( 245 ) Income from bank-owned life insurance policies ​ ( 991 ) ​ ( 556 ) Net gain on sale of assets ​ ( 177 ) ​ ( 528 ) Loss from equity method investments ​ ​ 326 ​ ​ 0 Change in other assets and liabilities ​ ( 7,416 ) ​ ( 5,830 ) Net cash provided by operating activities ​ 71,558 ​ 62,509 Investing activities: ​ ​ ​ ​ Proceeds from maturities, calls, and paydowns of available-for-sale investment securities ​ 18,097 ​ 12,315 Proceeds from maturities, calls, and paydowns of held-to-maturity investment securities ​ ​ 11,241 ​ ​ 3,840 Proceeds from maturities and redemptions of equity and other investment securities, net ​ 750 ​ 7,234 Purchases of held-to-maturity investment securities ​ ​ ( 10,668 ) ​ ​ ( 45,293 ) Purchases of equity and other securities, net ​ ( 5,616 ) ​ ( 63 ) Net (increase) decrease in loans ​ ( 192,346 ) ​ 1,526 Cash paid for acquisitions, net of cash acquired ​ ( 12,862 ) ​ ( 242 ) Proceeds from sales of premises, equipment and other assets ​ ​ 0 ​ ​ 927 Purchases of premises and equipment ​ ( 11,260 ) ​ ( 10,555 ) Net cash used in investing activities ​ ( 202,664 ) ​ ( 30,311 ) Financing activities: ​ ​ ​ ​ Net increase in deposits ​ 483,037 ​ 450,340 Net decrease in overnight borrowings ​ ​ 0 ​ ​ ( 118,000 ) Net (decrease) increase in securities sold under agreement to repurchase, short-term ​ ​ ( 30,136 ) ​ ​ 5,028 Payments on and maturities of other Federal Home Loan Bank borrowings ​ ​ ( 12,366 ) ​ ​ ( 23,797 ) Payments of contingent consideration for acquisitions ​ ​ ( 1,671 ) ​ ​ ( 378 ) Proceeds from the issuance of common stock for employee stock plans ​ ​ 6,119 ​ ​ 2,337 Purchases of treasury stock ​ ( 15,511 ) ​ ( 48 ) Cash dividends paid ​ ( 24,823 ) ​ ( 24,268 ) Withholding taxes paid on share-based compensation ​ ( 3,125 ) ​ ( 2,395 ) Net cash provided by financing activities ​ 401,524 ​ 288,819 Change in cash, cash equivalents and restricted cash ​ 270,418 ​ 321,017 Cash, cash equivalents and restricted cash at beginning of period ​ 301,755 ​ 197,004 Cash, cash equivalents and restricted cash at end of period ​ $ 572,173 ​ $ 518,021 ​ ​ ​ ​ ​ ​ ​ Supplemental disclosures of cash flow information: ​ ​ ​ ​ ​ ​ Cash paid for interest ​ $ 45,714 ​ $ 47,641 Cash paid for income taxes ​ 4,470 ​ 3,753 Supplemental disclosures of noncash financing and investing activities: ​ ​ ​ ​ ​ ​ Dividends declared and unpaid ​ 24,888 ​ 24,429 Transfers from loans to other real estate ​ 182 ​ 394 Transfers from premises and equipment, net to other assets ​ ​ 4,811 ​ ​ 0 Acquisitions: ​ ​ ​ ​ ​ ​ Fair value of assets acquired, excluding acquired cash and intangibles ​ 297 ​ 53 Fair value of liabilities assumed ​ 964 ​ 132 Contingent consideration in exchange for acquired assets ​ ​ 225 ​ ​ 2,100 ​ See accompanying notes to consolidated financial statements (unaudited). ​ ​ 7 Table of Contents COMMUNITY FINANCIAL SYSTEM, INC. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) March 31, 2026 ​ NOTE A: BASIS OF PRESENTATION ​ The interim financial data as of and for the three months ended March 31, 2026 is unaudited; however, in the opinion of Community Financial System, Inc. (the “Company”), the interim data includes all adjustments, consisting only of normal recurring adjustments, necessary to present fairly the results for the interim periods in conformity with generally accepted accounting principles in the United States of America (“GAAP”) and Article 10 of Regulation S-X. The results of operations for the interim periods are not necessarily indicative of the results that may be expected for the full year or any other interim period. The Company’s unaudited interim consolidated financial statements and notes thereto should be read in conjunction with the Company’s audited annual consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025 filed with the Securities and Exchange Commission (“SEC”) on February 27, 2026. ​ NOTE B: ACQUISITIONS ​ Pending Acquisition ​ On January 15, 2026, the Company, through its subsidiary Community Bank, N.A. (“CBNA”), entered into an agreement to acquire ClearPoint Federal Bank & Trust for approximately $ 40.0 million in cash, subject to potential purchase price adjustments. The transaction is expected to expand the wealth management services revenue and offerings of the Company. The Company has received the necessary regulatory approvals, including from the Office of the Comptroller of the Currency and a waiver from filing an application with the Federal Reserve Bank of New York. The Company expects the acquisition to close on June 1, 2026, subject to customary closing conditions. The Company expects to incur certain one-time transaction-related costs in connection with the pending acquisition. ​ Current and Prior Period Acquisitions ​ During the first quarter of 2026, the Company, through its subsidiary OneGroup NY, Inc. (“OneGroup”), completed the acquisitions of two insurance agencies based in New York and Florida. Total aggregate consideration was $ 3.8 million in cash and contingent consideration with an estimated fair value of $ 0.2 million at the acquisition date. The contingent consideration arrangements require additional consideration to be paid by the Company based on a percentage of revenue over a period of three years following the acquisition date. The fair value of the contingent consideration at the acquisition date was determined by forecasting estimated amounts of revenue for each applicable period and applying the appropriate factor to those amounts based on the purchase agreement. The effects of the acquired assets are included in the consolidated financial statements from that date. Net assets acquired included $ 3.5 million of customer list intangible assets and the Company recorded $ 1.2 million of goodwill in conjunction with the acquisitions. Revenues and direct expenses for the three months ended March 31, 2026 were immaterial. ​ On November 7, 2025, the Company, through its subsidiary CBNA, completed the acquisition of seven branch locations in the Allentown, Pennsylvania area from Santander Bank, N.A. (“Santander”), including certain branch-related loans and deposits, acquiring $ 31.8 million of loans and $ 543.7 million of deposits. The assumed deposits consist primarily of core deposits (checking, savings and money market accounts) and the purchased loans consist of in-market performing loans, primarily residential real estate loans. Total consideration was $ 80.9 million, including a deposit premium of 8 %, or $ 43.5 million, and the Company recorded core deposit intangibles of $ 11.9 million and goodwill of $ 32.1 million. The effects of the acquired assets and liabilities for the acquisitions have been included in the consolidated financial statements since that date. ​ ​ 8 Table of Contents During 2025, the Company, through its subsidiaries Nottingham Investment Services, Inc. (“NISI”), OneGroup, Benefit Plans Administrative Services, LLC (“BPA”) and Benefit Plans Administrative Services, Inc. (“BPAS”), completed the acquisitions of certain assets of financial services companies based in Pennsylvania, Florida, Kentucky, New York, Kansas, Minnesota and Missouri. Total aggregate consideration was $ 4.5 million in cash and contingent consideration with an estimated fair value of $ 6.7 million at the acquisition date. The contingent consideration arrangements require additional consideration to be paid by the Company based on a percentage of revenue over periods ranging from one to four years following the acquisition date. The fair value of the contingent consideration at the acquisition date was determined by forecasting estimated amounts of revenue for each applicable period and applying the appropriate factor to those amounts based on the purchase agreement. The effects of the acquired assets are included in the consolidated financial statements from that date. Net assets acquired included $ 8.4 million of customer list intangible assets and the Company recorded $ 2.9 million of goodwill in conjunction with the acquisitions. Revenues and direct expenses for the three months ended March 31, 2026 and 2025 were immaterial. ​ The assets and liabilities assumed in the acquisitions were recorded at their estimated fair values based on management’s best estimates using information available at the dates of the acquisitions. ​ The Santander transaction accelerates CBNA’s overall expansion in the strategic Greater Lehigh Valley and complements its existing commercial and consumer lending presence in the market. The NISI, OneGroup, BPA and BPAS transactions generally expand the Company’s wealth management services, insurance services and employee benefit services presence. Management expects that the Company will benefit from greater geographic diversity and the advantages of other synergistic business development opportunities. ​ The following table summarizes the estimated fair value of the assets acquired and liabilities assumed in acquisitions considered to be business combinations after considering the measurement period adjustment described above: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2026 ​ 2025 (000s omitted) ​ ​ ​ Other (1) ​ ​ ​ Santander ​ ​ ​ Other (2) ​ ​ ​ Total Consideration: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash ​ $ 3,802 ​ $ 80,944 ​ $ 4,472 ​ $ 85,416 Contingent consideration ​ ​ 225 ​ ​ 0 ​ ​ 6,724 ​ ​ 6,724 Total net consideration ​ ​ 4,027 ​ ​ 80,944 ​ ​ 11,196 ​ ​ 92,140 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Recognized amounts of identifiable assets acquired and liabilities assumed: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and cash equivalents ​ ​ 6 ​ ​ 546,042 ​ ​ 0 ​ ​ 546,042 Loans, net of allowance for credit losses ​ ​ 0 ​ ​ 31,755 ​ ​ 0 ​ ​ 31,755 Premises and equipment ​ ​ 108 ​ ​ 4,394 ​ ​ 98 ​ ​ 4,492 Accrued interest and fees receivable ​ ​ 0 ​ ​ 230 ​ ​ 0 ​ ​ 230 Other assets ​ ​ 189 ​ ​ 45 ​ ​ 0 ​ ​ 45 Core deposit intangibles ​ ​ 0 ​ ​ 11,900 ​ ​ 0 ​ ​ 11,900 Other intangibles ​ ​ 3,472 ​ ​ 0 ​ ​ 8,441 ​ ​ 8,441 Deposits ​ ​ 0 ​ ​ ( 543,734 ) ​ ​ 0 ​ ​ ( 543,734 ) Other liabilities ​ ​ ( 964 ) ​ ​ ( 1,804 ) ​ ​ ( 210 ) ​ ​ ( 2,014 ) Total identifiable assets, net ​ ​ 2,811 ​ ​ 48,828 ​ ​ 8,329 ​ ​ 57,157 Goodwill ​ $ 1,216 ​ $ 32,116 ​ $ 2,867 ​ $ 34,983 (1) Includes amounts for OneGroup acquisitions completed as of March 31, 2026. (2) Includes amounts for NISI, OneGroup, BPA and BPAS acquisitions completed in 2025. ​ The Company acquired loans from Santander for which there was no evidence of a more-than-insignificant deterioration in credit quality since origination (purchased seasoned loans) with an unpaid principal balance of $ 31.8 million at the acquisition date. Total fair value adjustments for these loans resulted in an immaterial net discount, comprised of a noncredit premium of $ 0.5 million and an allowance for credit losses of $ 0.5 million. There were no acquired purchased credit deteriorated (“PCD”) loans. ​ The fair value of checking, savings and money market deposit accounts acquired were assumed to approximate the carrying value as these accounts have no stated maturity and are payable on demand. Certificate of deposit accounts were valued at the present value of the certificates’ expected contractual payments discounted at market rates for similar certificates, which resulted in a premium of $ 0.5 million. Core deposit intangibles were valued using the cost savings approach, which is variant of an income approach, where the spread between the cost of deposits and an alternative funds rate is calculated and the cost savings are discounted to present value using a risk adjusted discount rate. The total core deposit intangible was $ 11.9 million. ​ 9 Table of Contents The other intangibles related to the OneGroup, NISI, BPA and BPAS acquisitions, as well as the core deposit intangibles and other intangibles related to the Santander acquisition, are being amortized using an accelerated method over an estimated useful life of eight years . The goodwill, which is not amortized for book purposes, was assigned to the Insurance Services segment for the OneGroup acquisitions. The goodwill was assigned to the Banking and Corporate segment for the Santander acquisition, the Wealth Management Services segment for the NISI acquisition and the Employee Benefits Services segment for the BPA and BPAS acquisitions. The goodwill arising from the acquisitions completed in 2026 and 2025 is deductible for tax purposes. ​ Disclosure of the proforma revenue and earnings assuming the Santander acquisition had been completed as of January 1, 2024 is not considered practicable. Retrospective application to that date would require assumptions about management's intent in prior periods that cannot be independently substantiated. It is not possible to objectively distinguish information about significant estimates of amounts that provide evidence of circumstances that existed on the dates at which those amounts would be recognized, measured, or disclosed under retrospective application and would have been available when the financial statements for that prior period were issued. ​ NOTE C: ACCOUNTING POLICIES ​ The notes to the consolidated financial statements appearing in the Company’s 2025 Annual Report on Form 10-K, which include descriptions of significant accounting policies, as updated by the information contained in this report, should be read in conjunction with these interim consolidated financial statements. ​ Contract Balances ​ A contract asset balance occurs when an entity performs a service for a customer before the customer pays consideration (resulting in a contract receivable) or before payment is due (resulting in a contract asset). A contract liability balance is an entity’s obligation to transfer a service to a customer for which the entity has already received payment (or payment is due) from the customer. The Company’s noninterest revenue streams are largely based on transactional activity, or standard month-end revenue accruals such as asset management fees based on month-end market values. Consideration is often received immediately or shortly after the Company satisfies its performance obligation and revenue is recognized. The Company does not typically enter into long-term revenue contracts with customers, and therefore, does not experience significant contract balances. As of March 31, 2026, $ 38.1 million of accounts receivable, including $ 9.6 million of unbilled fee revenue, and $ 2.5 million of unearned revenue was recorded in the consolidated statements of condition. As of December 31, 2025, $ 44.0 million of accounts receivable, including $ 8.5 million of unbilled fee revenue, and $ 1.1 million of unearned revenue was recorded in the consolidated statements of condition. ​ Hedging ​ The Company enters into certain derivative instruments to manage exposure to variability in future expected cash flows related to financial items. Cash flow hedges are designated and accounted for in accordance with FASB ASC 815, Derivatives and Hedging . The Company may use interest rate swaps or other qualifying derivative instruments to hedge exposure to variability in cash flows attributable to changes in interest rates on financial items. All derivative instruments designated as cash flow hedges are recognized on the balance sheet at fair value on the trade date. At inception, the Company formally documents (1) the hedging relationship; (2) the risk management objective and strategy; (3) the hedged forecasted transaction; (4) the nature of the risk being hedged; and (5) the method to assess hedge effectiveness. ​ 10 Table of Contents Derivatives designated as hedging relationships are remeasured at fair value at each reporting date. Changes in fair value of the effective portion of the hedge is recorded in accumulated other comprehensive income or loss (“AOCI”), while the ineffective portion is recognized immediately in earnings. Hedge effectiveness is assessed at inception and on a quarterly basis thereafter. The Company uses a qualitative or quantitative effectiveness assessment method, as appropriate, to conclude that the hedge is expected to be highly effective in offsetting changes in cash flows attributable to the hedged risk. Amounts deferred in AOCI are reclassified into earnings in the same period during which the hedged forecasted transaction affects earnings. Reclassifications are recorded in the same income statement line item as the hedged item. Hedge accounting is discontinued prospectively if (1) the hedging instrument expires or is terminated; (2) the hedge no longer meets effectiveness criteria; or (3) the forecasted transaction is no longer probable. Upon discontinuance, amounts in AOCI remain until the forecasted transaction impacts earnings, unless the transaction is no longer probable, in which case amounts are immediately recognized in earnings. ​ Reclassifications ​ Certain reclassifications have been made to prior period balances to conform to the current period’s presentation. ​ New Accounting Pronouncements ​ In November 2024, the FASB issued ASU 2024-03, Disaggregation of Income Statement Expenses , to enhance the disclosure of expenses by requiring further disaggregation of relevant expense captions as well as disclosures about selling expenses. ASU 2024-03 is applicable to all public business entities for annual reporting periods beginning after December 15, 2026 and interim reporting periods beginning after December 15, 2027, with early adoption permitted. The Company is evaluating the impact this will have on the consolidated financial statements but does not expect it will have a material impact on the Company’s consolidated financial statements. ​ In November 2025, the FASB issued ASU 2025-09, Hedge Accounting Improvements , which amends certain aspects of the existing hedge accounting guidance to more closely align hedge accounting with the economics of an entity's risk management activities. ASU 2025-09 is applicable to all public business entities for annual reporting periods beginning after December 15, 2026 and for interim periods within those annual reporting periods, with early adoption permitted. The amendments are required to be applied prospectively, with certain transition provisions available for existing hedging relationships. The Company is evaluating the impact this will have on the consolidated financial statements but does not expect it will have a material impact on the Company’s consolidated financial statements. ​ NOTE D: INVESTMENT SECURITIES ​ The amortized cost and estimated fair value of investment securities as of March 31, 2026 and December 31, 2025 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2026 ​ December 31, 2025 ​ ​ ​ ​ ​ Gross ​ Gross ​ ​ ​ ​ ​ ​ ​ Gross ​ Gross ​ ​ ​ ​ ​ Amortized ​ Unrealized ​ Unrealized ​ Fair ​ Amortized ​ Unrealized ​ Unrealized ​ Fair (000’s omitted) ​ ​ ​ Cost ​ ​ ​ Gains ​ ​ Losses ​ ​ ​ Value ​ ​ ​ Cost ​ ​ ​ Gains ​ ​ Losses ​ ​ ​ Value Available-for-Sale Portfolio: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Treasury and agency securities ​ $ 2,400,883 ​ $ 0 ​ $ 206,984 ​ $ 2,193,899 ​ $ 2,399,478 ​ $ 0 ​ $ 204,252 ​ $ 2,195,226 Obligations of state and political subdivisions ​ 408,566 ​ 180 ​ 34,171 ​ 374,575 ​ 417,414 ​ 430 ​ 25,927 ​ 391,917 Government agency mortgage-backed securities ​ 314,401 ​ 56 ​ 43,617 ​ 270,840 ​ 322,253 ​ 96 ​ 43,464 ​ 278,885 Corporate debt securities ​ 5,000 ​ ​ 0 ​ 65 ​ 4,935 ​ 5,000 ​ 0 ​ 88 ​ 4,912 Government agency collateralized mortgage obligations ​ 4,070 ​ 0 ​ 187 ​ 3,883 ​ 4,583 ​ 0 ​ 182 ​ 4,401 Total available-for-sale portfolio ​ $ 3,132,920 ​ $ 236 ​ $ 285,024 ​ $ 2,848,132 ​ $ 3,148,728 ​ $ 526 ​ $ 273,913 ​ $ 2,875,341 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Held-to-Maturity Portfolio: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Treasury and agency securities ​ $ 1,175,853 ​ $ 0 ​ $ 100,572 ​ $ 1,075,281 ​ $ 1,168,487 ​ $ 0 ​ $ 87,003 ​ $ 1,081,484 Government agency mortgage-backed securities ​ ​ 284,897 ​ 2,558 ​ 624 ​ 286,831 ​ ​ 285,679 ​ ​ 3,537 ​ ​ 236 ​ ​ 288,980 Total held-to-maturity portfolio ​ $ 1,460,750 ​ $ 2,558 ​ $ 101,196 ​ $ 1,362,112 ​ $ 1,454,166 ​ $ 3,537 ​ $ 87,239 ​ $ 1,370,464 ​ As of March 31, 2026, equity and other securities on the consolidated statements of condition consists of equity securities with readily determinable fair values carried at $ 4.0 million and investment securities without readily determinable fair values carried at $ 77.6 million, including Federal Home Loan Bank of New York (“FHLB”) common stock of $ 32.6 million, Federal Reserve Bank (“FRB”) common stock of $ 33.3 million, equity securities of $ 6.6 million and other investment securities of $ 5.1 million. 11 Table of Contents As of December 31, 2025, equity and other securities on the consolidated statements of condition consists of equity securities with readily determinable fair values carried at $ 4.4 million and equity securities without readily determinable fair values carried at $ 72.8 million; including FHLB common stock of $ 33.2 million, FRB common stock of $ 33.3 million and other equity securities of $ 6.3 million. ​ The investment in FRB stock represents approximately half of the total required subscription, and the remaining half is unpaid and remains subject to call by the FRB. ​ The amount of upward and downward adjustments to equity securities without readily determinable fair values was not material for the three months ended March 31, 2026 and 2025. ​ The gains and losses on equity and other securities for the three months ended March 31, 2026 and 2025 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ March 31, (000's omitted) ​ ​ ​ 2026 ​ ​ ​ 2025 Net (loss) gain recognized on equity securities ​ $ ( 401 ) ​ $ 245 Less: Net gain (loss) recognized on equity securities sold during the period ​ 0 ​ 0 Unrealized (loss) gain recognized on equity securities still held ​ $ ( 401 ) ​ $ 245 ​ A summary of investment securities that have been in a continuous unrealized loss position is as follows: ​ As of March 31, 2026 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Less than 12 Months ​ 12 Months or Longer ​ Total ​ ​ ​ ​ Gross ​ ​ ​ Gross ​ ​ ​ Gross ​ ​ ​ ​ Unrealized ​ ​ ​ Unrealized ​ ​ ​ Unrealized (000’s omitted) ​ ​ Fair Value ​ ​ Losses ​ ​ Fair Value ​ ​ Losses ​ ​ Fair Value ​ ​ Losses Available-for-Sale Portfolio: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Treasury and agency securities ​ $ 0 ​ $ 0 ​ $ 2,192,899 ​ $ 206,984 ​ $ 2,192,899 ​ $ 206,984 Obligations of state and political subdivisions ​ 84,858 ​ 1,580 ​ 249,338 ​ 32,591 ​ 334,196 ​ 34,171 Government agency mortgage-backed securities ​ 7,397 ​ 67 ​ 260,234 ​ 43,550 ​ 267,631 ​ 43,617 Corporate debt securities ​ ​ 0 ​ ​ 0 ​ ​ 4,935 ​ ​ 65 ​ ​ 4,935 ​ ​ 65 Government agency collateralized mortgage obligations ​ 0 ​ 0 ​ 3,880 ​ 187 ​ 3,880 ​ 187 Total available-for-sale investment portfolio ​ $ 92,255 ​ $ 1,647 ​ $ 2,711,286 ​ $ 283,377 ​ $ 2,803,541 ​ $ 285,024 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Held-to-Maturity Portfolio: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Treasury and agency securities ​ $ 0 ​ $ 0 ​ $ 1,075,281 ​ $ 100,572 ​ $ 1,075,281 ​ $ 100,572 Government agency mortgage-backed securities ​ ​ 68,891 ​ ​ 531 ​ ​ 6,480 ​ ​ 93 ​ ​ 75,371 ​ ​ 624 Total held-to-maturity portfolio ​ $ 68,891 ​ $ 531 ​ $ 1,081,761 ​ $ 100,665 ​ $ 1,150,652 ​ $ 101,196 ​ As of December 31, 2025 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Less than 12 Months ​ 12 Months or Longer ​ Total ​ ​ ​ ​ Gross ​ ​ ​ Gross ​ ​ ​ Gross ​ ​ ​ ​ Unrealized ​ ​ ​ Unrealized ​ ​ ​ Unrealized (000’s omitted) ​ ​ Fair Value ​ ​ Losses ​ ​ Fair Value ​ ​ Losses ​ ​ Fair Value ​ ​ Losses Available-for-Sale Portfolio: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Treasury and agency securities ​ $ 0 ​ $ 0 ​ $ 2,195,226 ​ $ 204,252 ​ $ 2,195,226 ​ $ 204,252 Obligations of state and political subdivisions ​ 12,210 ​ 22 ​ 284,268 ​ 25,905 ​ 296,478 ​ 25,927 Government agency mortgage-backed securities ​ 200 ​ 0 ​ 272,150 ​ 43,464 ​ 272,350 ​ 43,464 Corporate debt securities ​ ​ 0 ​ ​ 0 ​ ​ 4,912 ​ ​ 88 ​ ​ 4,912 ​ ​ 88 Government agency collateralized mortgage obligations ​ 0 ​ 0 ​ 4,397 ​ 182 ​ 4,397 ​ 182 Total available-for-sale investment portfolio ​ $ 12,410 ​ $ 22 ​ $ 2,760,953 ​ $ 273,891 ​ $ 2,773,363 ​ $ 273,913 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Held-to-Maturity Portfolio: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Treasury and agency securities ​ $ 0 ​ $ 0 ​ $ 1,081,484 ​ $ 87,003 ​ $ 1,081,484 ​ $ 87,003 Government agency mortgage-backed securities ​ ​ 31,274 ​ ​ 146 ​ ​ 13,662 ​ ​ 90 ​ ​ 44,936 ​ ​ 236 Total held-to-maturity portfolio ​ $ 31,274 ​ $ 146 ​ $ 1,095,146 ​ $ 87,093 ​ $ 1,126,420 ​ $ 87,239 ​ 12 Table of Contents The unrealized losses reported pertaining to available-for-sale securities issued by the U.S. government and its sponsored entities include treasuries, agencies, and mortgage-backed securities issued by Ginnie Mae, Fannie Mae, and Freddie Mac, which are currently rated Aa1 by Moody’s Investor Services, AA+ by Standard & Poor’s, AA+ by Fitch and are guaranteed by the U.S. government. The majority of the obligations of state and political subdivisions carry a credit rating of A or better. Additionally, a portion of the obligations of state and political subdivisions carry a secondary level of credit enhancement. The Company holds one corporate debt security in an unrealized loss position and, based on an analysis of the financial position of the issuer including financial performance, liquidity and regulatory capital ratios, the issuer of the security shows a remote risk of default. Timely interest payments continue to be made on the security. The unrealized losses in the portfolios are primarily attributable to changes in interest rates. As such, management does not believe any individual unrealized loss as of March 31, 2026 represents credit losses and no unrealized losses have been recognized in the provision for credit losses. Accordingly, there is no allowance for credit losses on the Company’s available-for-sale portfolio as of March 31, 2026. Accrued interest receivable on available-for-sale debt securities, included in accrued interest and fees receivable on the consolidated statements of condition, totaled $ 8.4 million at March 31, 2026 and is excluded from the estimate of credit losses. ​ Securities classified as held-to-maturity are included under the Current Expected Credit Loss (“CECL”) methodology. Calculation of expected credit loss under CECL is done on a collective (“pooled”) basis, with assets grouped when similar risk characteristics exist. The Company notes that at March 31, 2026, all securities in the held-to-maturity classification are U.S. Treasury securities and government agency mortgage-backed securities, therefore they share the same risk characteristics and can be evaluated on a collective basis. The expected credit loss on these securities is evaluated based on historical credit losses of this security type and the expected possibility of default in the future as these securities are guaranteed by the U.S. government. U.S. Treasury securities and government agency mortgage-backed securities often receive the highest credit rating by rating agencies and the Company has concluded that the possibility of default is considered remote. The U.S. Treasury securities and government agency mortgage-backed securities held by the Company in the held-to-maturity category carry an Aa1 rating from Moody’s Investor Services, AA+ rating from Standard & Poor’s, and AA+ from Fitch. The Company concludes that the long history with no credit losses for these securities (adjusted for current conditions and reasonable and supportable forecasts) indicates an expectation that nonpayment of the amortized cost basis is zero. Management has concluded that the prepayment risk associated with these securities is insignificant and it is expected to recover the recorded investment. Accordingly, there is no allowance for credit losses on the Company’s held-to-maturity debt portfolio as of March 31, 2026. Accrued interest receivable on held-to-maturity debt securities, included in accrued interest and fees receivable on the consolidated statements of condition, totaled $ 4.1 million at March 31, 2026 and is excluded from the estimate of credit losses. The Company has the intent and ability to hold the securities to maturity. ​ The amortized cost and estimated fair value of debt securities at March 31, 2026, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Securities not due at a single maturity date, including government agency mortgage-backed securities and government agency collateralized mortgage obligations, are shown separately. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Held-to-Maturity ​ ​ ​ Available-for-Sale ​ ​ Amortized ​ Fair ​ Amortized ​ Fair (000’s omitted) ​ Cost ​ ​ ​ Value ​ ​ ​ Cost ​ ​ ​ Value Due in one year or less ​ $ 0 ​ $ 0 ​ $ 450,003 ​ $ 442,727 Due after one through five years ​ ​ 406,458 ​ ​ 394,234 ​ 1,514,051 ​ 1,435,495 Due after five years through ten years ​ ​ 175,835 ​ ​ 170,135 ​ 448,496 ​ 389,710 Due after ten years ​ ​ 593,560 ​ ​ 510,912 ​ 401,899 ​ 305,477 Subtotal ​ ​ 1,175,853 ​ ​ 1,075,281 ​ 2,814,449 ​ 2,573,409 Government agency mortgage-backed securities ​ ​ 284,897 ​ ​ 286,831 ​ 314,401 ​ ​ 270,840 Government agency collateralized mortgage obligations ​ ​ 0 ​ ​ 0 ​ 4,070 ​ ​ 3,883 Total ​ $ 1,460,750 ​ $ 1,362,112 ​ $ 3,132,920 ​ $ 2,848,132 ​ Investment securities with a carrying value of $ 2.44 billion and $ 2.06 billion at March 31, 2026 and December 31, 2025, respectively, were pledged to collateralize certain deposits and borrowings. Securities pledged to collateralize certain deposits and borrowings included $ 317.2 million and $ 319.5 million of U.S. Treasury securities that were pledged as collateral for securities sold under agreement to repurchase at March 31, 2026 and December 31, 2025, respectively. ​ 13 Table of Contents NOTE E: LOANS AND ALLOWANCE FOR CREDIT LOSSES ​ The segments of the Company’s loan portfolio are summarized as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, (000’s omitted) ​ 2026 ​ ​ ​ 2025 CRE – multifamily ​ $ 920,225 ​ $ 917,586 CRE – owner occupied ​ ​ 879,538 ​ ​ 871,801 CRE – non-owner occupied ​ ​ 1,786,890 ​ ​ 1,670,451 Commercial & industrial and other business loans ​ ​ 1,296,798 ​ ​ 1,274,029 Consumer mortgage ​ 3,619,067 ​ 3,617,186 Consumer indirect ​ 1,894,011 ​ 1,859,354 Consumer direct ​ 200,216 ​ 205,595 Home equity ​ 534,439 ​ 533,755 Gross loans, including deferred origination costs ​ 11,131,184 ​ 10,949,757 Allowance for credit losses ​ ( 90,193 ) ​ ( 87,921 ) Loans, net of allowance for credit losses ​ $ 11,040,991 ​ $ 10,861,836 ​ The following table presents the aging of the amortized cost basis of the Company’s past due loans by segment as of March 31, 2026 and December 31, 2025: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Past Due ​ 90+ Days Past ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (000’s omitted) ​ 30 – 89 ​ Due and ​ ​ ​ ​ Total ​ ​ ​ ​ ​ ​ March 31, 2026 ​ ​ ​ Days ​ ​ ​ Still Accruing ​ ​ ​ Nonaccrual ​ ​ ​ Past Due ​ ​ ​ Current ​ ​ ​ Total Loans CRE – multifamily ​ $ 92 ​ $ 0 ​ $ 436 ​ $ 528 ​ $ 919,697 ​ $ 920,225 CRE – owner occupied ​ ​ 3,055 ​ 121 ​ 5,066 ​ 8,242 ​ 871,296 ​ 879,538 CRE – non-owner occupied ​ ​ 3,595 ​ ​ 0 ​ ​ 188 ​ ​ 3,783 ​ ​ 1,783,107 ​ ​ 1,786,890 Commercial & industrial and other business loans ​ ​ 11,675 ​ ​ 0 ​ ​ 10,547 ​ ​ 22,222 ​ ​ 1,274,576 ​ ​ 1,296,798 Consumer mortgage ​ 27,793 ​ ​ 4,470 ​ ​ 28,476 ​ ​ 60,739 ​ ​ 3,558,328 ​ ​ 3,619,067 Consumer indirect ​ 18,444 ​ 991 ​ 0 ​ 19,435 ​ 1,874,576 ​ 1,894,011 Consumer direct ​ 1,721 ​ 273 ​ 0 ​ 1,994 ​ 198,222 ​ 200,216 Home equity ​ 4,142 ​ 740 ​ 2,390 ​ 7,272 ​ 527,167 ​ 534,439 Total ​ $ 70,517 ​ $ 6,595 ​ $ 47,103 ​ $ 124,215 ​ $ 11,006,969 ​ $ 11,131,184 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Past Due ​ 90+ Days Past ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (000’s omitted) ​ 30 – 89 ​ Due and ​ ​ ​ ​ Total ​ ​ ​ ​ ​ ​ December 31, 2025 ​ ​ ​ Days ​ ​ ​ Still Accruing ​ ​ ​ Nonaccrual ​ ​ ​ Past Due ​ ​ ​ Current ​ ​ ​ Total Loans CRE – multifamily ​ $ 861 ​ $ 0 ​ $ 437 ​ $ 1,298 ​ $ 916,288 ​ $ 917,586 CRE – owner occupied ​ ​ 1,050 ​ ​ 0 ​ ​ 6,687 ​ ​ 7,737 ​ ​ 864,064 ​ ​ 871,801 CRE – non-owner occupied ​ ​ 399 ​ ​ 0 ​ ​ 87 ​ ​ 486 ​ ​ 1,669,965 ​ ​ 1,670,451 Commercial & industrial and other business loans ​ ​ 3,372 ​ ​ 0 ​ ​ 12,533 ​ ​ 15,905 ​ ​ 1,258,124 ​ ​ 1,274,029 Consumer mortgage ​ 28,206 ​ 4,497 ​ 27,686 ​ 60,389 ​ 3,556,797 ​ 3,617,186 Consumer indirect ​ 24,052 ​ 1,052 ​ 0 ​ 25,104 ​ 1,834,250 ​ 1,859,354 Consumer direct ​ 2,123 ​ 393 ​ 0 ​ 2,516 ​ 203,079 ​ 205,595 Home equity ​ 3,861 ​ 1,006 ​ 2,079 ​ 6,946 ​ 526,809 ​ 533,755 Total ​ $ 63,924 ​ $ 6,948 ​ $ 49,509 ​ $ 120,381 ​ $ 10,829,376 ​ $ 10,949,757 ​ Interest income on nonaccrual loans of $ 0.4 million and $ 0.1 million was recognized during the three months ended March 31, 2026 and 2025, respectively. ​ The Company uses several credit quality indicators to assess credit risk in an ongoing manner. The Company’s primary credit quality indicator for its business lending portfolio is an internal credit risk rating system that categorizes loans as “pass”, “special mention”, “substandard”, or “doubtful”. Credit risk ratings are applied to loans individually based on a case-by-case evaluation. Business lending loans under $ 250,000 are assigned either a “pass” or “substandard” risk rating. Business lending relationships with total exposures above management-defined thresholds are subject to a formal annual review to affirm the appropriate risk rating. Quarterly credit evaluations may also be completed based on the borrower’s risk rating. For all business lending relationships regardless of exposure size, risk ratings are refreshed when a borrower makes a new loan request, a loan is renewed or automated tools indicate a possible change in a borrower’s credit risk profile. In general, the following are the definitions of the Company’s credit quality indicators. ​ 14 Table of Contents ​ ​ ​ Pass ​ ​ ​ The condition of the borrower and the performance of the loans are satisfactory or better. Special Mention ​ The condition of the borrower has deteriorated and the loan has potential weaknesses, although the loan performs as agreed. Loss may be incurred at some future date if conditions deteriorate further. Substandard ​ The condition of the borrower has significantly deteriorated and the loan has a well-defined weakness or weaknesses. The performance of the loan could further deteriorate and incur loss if deficiencies are not corrected. Doubtful ​ The condition of the borrower has deteriorated to the point that collection of the balance is improbable based on current facts and conditions and loss is likely. ​ The following tables show the amount of business lending loans by credit quality category at March 31, 2026 and December 31, 2025: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revolving ​ Revolving ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans ​ Loans ​ ​ ​ (000’s omitted) ​ Term Loans Amortized Cost Basis by Origination Year ​ Amortized ​ Converted ​ ​ ​ March 31, 2026 ​ ​ ​ 2026 ​ ​ ​ 2025 ​ ​ ​ 2024 ​ ​ ​ 2023 ​ ​ ​ 2022 ​ ​ ​ 2021 & Prior ​ ​ ​ Cost Basis ​ to Term ​ ​ ​ Total CRE – multifamily: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Risk rating ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 16,467 ​ $ 140,251 ​ $ 12,742 ​ $ 89,246 ​ $ 132,520 ​ $ 163,213 ​ $ 135,197 ​ $ 182,618 ​ $ 872,254 Special mention ​ 0 ​ 0 ​ 0 ​ 0 ​ 0 ​ 9,105 ​ 0 ​ ​ 11,600 ​ 20,705 Substandard ​ 0 ​ 0 ​ 0 ​ 8,814 ​ 0 ​ 13,936 ​ 1,597 ​ ​ 2,919 ​ 27,266 Doubtful ​ 0 ​ ​ 0 ​ ​ 0 ​ ​ 0 ​ ​ 0 ​ ​ 0 ​ 0 ​ ​ 0 ​ 0 Total CRE – multifamily ​ $ 16,467 ​ $ 140,251 ​ $ 12,742 ​ $ 98,060 ​ $ 132,520 ​ $ 186,254 ​ $ 136,794 ​ $ 197,137 ​ $ 920,225 Current period gross charge-offs (1) ​ $ 0 ​ $ 0 ​ $ 0 ​ $ 0 ​ $ 0 ​ $ 0 ​ $ 0 ​ $ 0 ​ $ 0 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ CRE – owner occupied: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Risk rating ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 40,020 ​ $ 100,179 ​ $ 88,843 ​ $ 35,991 ​ $ 57,074 ​ $ 261,901 ​ $ 37,438 ​ $ 201,080 ​ $ 822,526 Special mention ​ 0 ​ 1,303 ​ 3,617 ​ 3,025 ​ 3,817 ​ 4,608 ​ 1,061 ​ ​ 16,404 ​ 33,835 Substandard ​ 0 ​ 1,571 ​ 1,561 ​ 890 ​ 5,311 ​ 10,982 ​ 330 ​ ​ 2,532 ​ 23,177 Doubtful ​ 0 ​ ​ 0 ​ 0 ​ ​ 0 ​ ​ 0 ​ ​ 0 ​ ​ 0 ​ ​ 0 ​ ​ 0 Total CRE – owner occupied ​ $ 40,020 ​ $ 103,053 ​ $ 94,021 ​ $ 39,906 ​ $ 66,202 ​ $ 277,491 ​ $ 38,829 ​ $ 220,016 ​ $ 879,538 Current period gross charge-offs (1) ​ $ 0 ​ $ 0 ​ $ 0 ​ $ 134 ​ $ 0 ​ $ 0 ​ $ 0 ​ $ 0 ​ $ 134 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ CRE – non-owner occupied: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Risk rating ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 91,425 ​ $ 181,304 ​ $ 67,120 ​ $ 78,557 ​ $ 184,705 ​ $ 384,200 ​ $ 423,986 ​ $ 209,661 ​ $ 1,620,958 Special mention ​ 0 ​ 0 ​ 1,401 ​ 8,472 ​ 2,105 ​ 25,713 ​ 18,265 ​ ​ 24,492 ​ 80,448 Substandard ​ 0 ​ 0 ​ 82 ​ 7,918 ​ 44,779 ​ 10,219 ​ 6,432 ​ ​ 16,054 ​ 85,484 Doubtful ​ 0 ​ ​ 0 ​ ​ 0 ​ ​ 0 ​ ​ 0 ​ ​ 0 ​ ​ 0 ​ ​ 0 ​ ​ 0 Total CRE – non-owner occupied ​ $ 91,425 ​ $ 181,304 ​ $ 68,603 ​ $ 94,947 ​ $ 231,589 ​ $ 420,132 ​ $ 448,683 ​ $ 250,207 ​ $ 1,786,890 Current period gross charge-offs (1) ​ $ 0 ​ $ 0 ​ $ 0 ​ $ 0 ​ $ 0 ​ $ 0 ​ $ 0 ​ $ 0 ​ $ 0 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial & industrial and other business loans: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Risk rating ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 49,856 ​ $ 225,086 ​ $ 144,622 ​ $ 45,126 ​ $ 49,810 ​ $ 121,910 ​ $ 465,174 ​ $ 94,346 ​ $ 1,195,930 Special mention ​ 585 ​ 1,389 ​ 7,028 ​ 1,446 ​ 3,713 ​ 1,964 ​ 19,321 ​ ​ 6,743 ​ 42,189 Substandard ​ 0 ​ 4,063 ​ 4,724 ​ 4,312 ​ 3,483 ​ 6,714 ​ 27,915 ​ ​ 5,916 ​ 57,127 Doubtful ​ 0 ​ ​ 0 ​ 0 ​ 0 ​ ​ 0 ​ ​ 0 ​ ​ 0 ​ ​ 1,552 ​ 1,552 Total commercial & industrial and other business loans ​ $ 50,441 ​ $ 230,538 ​ $ 156,374 ​ $ 50,884 ​ $ 57,006 ​ $ 130,588 ​ $ 512,410 ​ $ 108,557 ​ $ 1,296,798 Current period gross charge-offs (1) ​ $ 0 ​ $ 0 ​ $ 0 ​ $ 0 ​ $ 0 ​ $ 0 ​ $ 212 ​ $ 9 ​ $ 221 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total business lending: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Risk rating ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 197,768 ​ $ 646,820 ​ $ 313,327 ​ $ 248,920 ​ $ 424,109 ​ $ 931,224 ​ $ 1,061,795 ​ $ 687,705 ​ $ 4,511,668 Special mention ​ 585 ​ 2,692 ​ 12,046 ​ 12,943 ​ 9,635 ​ 41,390 ​ 38,647 ​ ​ 59,239 ​ 177,177 Substandard ​ 0 ​ 5,634 ​ 6,367 ​ 21,934 ​ 53,573 ​ 41,851 ​ 36,274 ​ ​ 27,421 ​ 193,054 Doubtful ​ 0 ​ 0 ​ 0 ​ 0 ​ 0 ​ 0 ​ ​ 0 ​ ​ 1,552 ​ 1,552 Total business lending ​ $ 198,353 ​ $ 655,146 ​ $ 331,740 ​ $ 283,797 ​ $ 487,317 ​ $ 1,014,465 ​ $ 1,136,716 ​ $ 775,917 ​ $ 4,883,451 Current period gross charge-offs (1) ​ $ 0 ​ $ 0 ​ $ 0 ​ $ 134 ​ $ 0 ​ $ 0 ​ $ 212 ​ $ 9 ​ $ 355 (1) For the three months ended March 31, 2026. ​ 15 Table of Contents ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revolving ​ Revolving ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans ​ Loans ​ ​ ​ (000’s omitted) ​ Term Loans Amortized Cost Basis by Origination Year ​ Amortized ​ Converted ​ ​ ​ December 31, 2025 ​ ​ ​ 2025 ​ ​ ​ 2024 ​ ​ ​ 2023 ​ ​ ​ 2022 ​ ​ ​ 2021 ​ ​ ​ 2020 & Prior ​ ​ ​ Cost Basis ​ ​ ​ to Term ​ ​ ​ Total CRE – multifamily: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Risk rating ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 138,662 ​ $ 13,544 ​ $ 90,834 ​ $ 125,581 ​ $ 38,245 ​ $ 130,435 ​ $ 131,129 ​ $ 173,234 ​ $ 841,664 Special mention ​ 0 ​ 0 ​ 8,522 ​ 9,317 ​ 9,019 ​ 5,089 ​ 4,979 ​ ​ 24,825 ​ 61,751 Substandard ​ 0 ​ 0 ​ 0 ​ 387 ​ 1,084 ​ 8,109 ​ 1,647 ​ ​ 2,944 ​ 14,171 Doubtful ​ 0 ​ 0 ​ ​ 0 ​ 0 ​ 0 ​ 0 ​ 0 ​ ​ 0 ​ 0 Total CRE – multifamily ​ $ 138,662 ​ $ 13,544 ​ $ 99,356 ​ $ 135,285 ​ $ 48,348 ​ $ 143,633 ​ $ 137,755 ​ $ 201,003 ​ $ 917,586 Current period gross charge-offs (1) ​ $ 0 ​ $ 0 ​ $ 0 ​ $ 0 ​ $ 19 ​ $ 82 ​ $ 428 ​ $ 0 ​ $ 529 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ CRE – owner occupied: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Risk rating ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 119,369 ​ $ 87,429 ​ $ 39,911 ​ $ 60,476 ​ $ 47,869 ​ $ 228,439 ​ $ 20,295 ​ $ 192,919 ​ $ 796,707 Special mention ​ 1,310 ​ 6,357 ​ 3,082 ​ 751 ​ 0 ​ 4,995 ​ 339 ​ ​ 28,113 ​ 44,947 Substandard ​ 1,449 ​ 1,571 ​ 1,024 ​ 7,066 ​ 3,073 ​ 9,895 ​ 337 ​ ​ 5,732 ​ 30,147 Doubtful ​ 0 ​ 0 ​ 0 ​ 0 ​ 0 ​ 0 ​ 0 ​ ​ 0 ​ 0 Total CRE – owner occupied ​ $ 122,128 ​ $ 95,357 ​ $ 44,017 ​ $ 68,293 ​ $ 50,942 ​ $ 243,329 ​ $ 20,971 ​ $ 226,764 ​ $ 871,801 Current period gross charge-offs (1) ​ $ 0 ​ $ 0 ​ $ 0 ​ $ 47 ​ $ 0 ​ $ 9 ​ $ 0 ​ $ 0 ​ $ 56 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ CRE – non-owner occupied: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Risk rating ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 182,535 ​ $ 67,569 ​ $ 97,829 ​ $ 189,423 ​ $ 97,178 ​ $ 311,706 ​ $ 351,501 ​ $ 218,249 ​ $ 1,515,990 Special mention ​ 3,067 ​ 1,407 ​ 4,748 ​ 0 ​ 2,593 ​ 19,642 ​ 19,024 ​ ​ 24,679 ​ 75,160 Substandard ​ 0 ​ 86 ​ 7,958 ​ 45,008 ​ 1,621 ​ 6,319 ​ 6,292 ​ ​ 12,017 ​ 79,301 Doubtful ​ 0 ​ 0 ​ 0 ​ 0 ​ 0 ​ 0 ​ 0 ​ ​ 0 ​ 0 Total CRE – non-owner occupied ​ $ 185,602 ​ $ 69,062 ​ $ 110,535 ​ $ 234,431 ​ $ 101,392 ​ $ 337,667 ​ $ 376,817 ​ $ 254,945 ​ $ 1,670,451 Current period gross charge-offs (1) ​ $ 0 ​ $ 0 ​ $ 0 ​ $ 0 ​ $ 1,111 ​ $ 0 ​ $ 0 ​ $ 3,198 ​ $ 4,309 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial & industrial and other business loans: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Risk rating ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 244,969 ​ $ 149,911 ​ $ 48,679 ​ $ 59,557 ​ $ 47,301 ​ $ 86,492 ​ $ 441,487 ​ $ 85,982 ​ $ 1,164,378 Special mention ​ 2,175 ​ 10,772 ​ 1,289 ​ 2,810 ​ 1,342 ​ 860 ​ 35,197 ​ ​ 8,109 ​ 62,554 Substandard ​ 3,223 ​ 2,348 ​ 4,420 ​ 3,236 ​ 2,091 ​ 5,176 ​ 21,029 ​ ​ 3,996 ​ 45,519 Doubtful ​ 0 ​ 0 ​ 0 ​ 0 ​ 0 ​ 0 ​ 1,578 ​ ​ 0 ​ 1,578 Total commercial & industrial and other business loans ​ $ 250,367 ​ $ 163,031 ​ $ 54,388 ​ $ 65,603 ​ $ 50,734 ​ $ 92,528 ​ $ 499,291 ​ $ 98,087 ​ $ 1,274,029 Current period gross charge-offs (1) ​ $ 0 ​ $ 0 ​ $ 235 ​ $ 209 ​ $ 150 ​ $ 50 ​ $ 303 ​ $ 1,293 ​ $ 2,240 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total business lending: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Risk rating ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 685,535 ​ $ 318,453 ​ $ 277,253 ​ $ 435,037 ​ $ 230,593 ​ $ 757,072 ​ $ 944,412 ​ $ 670,384 ​ $ 4,318,739 Special mention ​ 6,552 ​ 18,536 ​ 17,641 ​ 12,878 ​ 12,954 ​ 30,586 ​ 59,539 ​ ​ 85,726 ​ 244,412 Substandard ​ 4,672 ​ 4,005 ​ 13,402 ​ 55,697 ​ 7,869 ​ 29,499 ​ 29,305 ​ ​ 24,689 ​ 169,138 Doubtful ​ 0 ​ 0 ​ 0 ​ 0 ​ 0 ​ 0 ​ 1,578 ​ ​ 0 ​ 1,578 Total business lending ​ $ 696,759 ​ $ 340,994 ​ $ 308,296 ​ $ 503,612 ​ $ 251,416 ​ $ 817,157 ​ $ 1,034,834 ​ $ 780,799 ​ $ 4,733,867 Current period gross charge-offs (1) ​ $ 0 ​ $ 0 ​ $ 235 ​ $ 256 ​ $ 1,280 ​ $ 141 ​ $ 731 ​ $ 4,491 ​ $ 7,134 (1) For the year ended December 31, 2025. ​ All other loans are underwritten and structured using standardized criteria and characteristics, primarily payment performance, and are monitored collectively on a monthly basis. These are typically loans to individuals in the consumer categories and are delineated as either performing or nonperforming. Performing loans include loans classified as current as well as those classified as 30 - 89 days past due. Nonperforming loans include 90+ days past due and still accruing and nonaccrual loans. ​ 16 Table of Contents The following tables detail the balances in all other loan categories at March 31, 2026 and December 31, 2025: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revolving ​ Revolving ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans ​ Loans ​ ​ ​ (000’s omitted) ​ Term Loans Amortized Cost Basis by Origination Year ​ Amortized ​ Converted ​ ​ ​ March 31, 2026 ​ ​ ​ 2026 ​ ​ ​ 2025 ​ ​ ​ 2024 ​ ​ ​ 2023 ​ ​ ​ 2022 ​ ​ ​ 2021 & Prior ​ ​ ​ Cost Basis ​ ​ ​ to Term ​ ​ ​ Total Consumer mortgage: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ FICO AB (1) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Performing ​ $ 55,988 ​ $ 275,261 ​ $ 274,243 ​ $ 294,841 ​ $ 291,032 ​ $ 1,085,295 ​ $ 19,417 ​ $ 158,293 ​ $ 2,454,370 Nonperforming ​ 0 ​ 0 ​ 780 ​ 1,357 ​ 871 ​ 3,866 ​ 0 ​ ​ 192 ​ 7,066 Total FICO AB ​ 55,988 ​ 275,261 ​ 275,023 ​ 296,198 ​ 291,903 ​ 1,089,161 ​ 19,417 ​ ​ 158,485 ​ 2,461,436 FICO CDE (2) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Performing ​ 23,077 ​ 127,139 ​ 140,504 ​ 125,091 ​ 123,054 ​ 526,238 ​ 7,932 ​ ​ 58,716 ​ 1,131,751 Nonperforming ​ 0 ​ 0 ​ 3,365 ​ 3,662 ​ 4,764 ​ 13,160 ​ 0 ​ ​ 929 ​ 25,880 Total FICO CDE ​ 23,077 ​ 127,139 ​ 143,869 ​ 128,753 ​ 127,818 ​ 539,398 ​ 7,932 ​ ​ 59,645 ​ 1,157,631 Total consumer mortgage ​ $ 79,065 ​ $ 402,400 ​ $ 418,892 ​ $ 424,951 ​ $ 419,721 ​ $ 1,628,559 ​ $ 27,349 ​ $ 218,130 ​ $ 3,619,067 Current period gross charge-offs (3) ​ $ 0 ​ $ 0 ​ $ 0 ​ $ 0 ​ $ 0 ​ $ 49 ​ $ 0 ​ $ 0 ​ $ 49 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Consumer indirect: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Performing ​ $ 222,839 ​ $ 712,495 ​ $ 409,911 ​ $ 274,063 ​ $ 185,126 ​ $ 88,586 ​ $ 0 ​ $ 0 ​ $ 1,893,020 Nonperforming ​ 0 ​ 165 ​ 280 ​ 181 ​ 317 ​ 48 ​ 0 ​ ​ 0 ​ 991 Total consumer indirect ​ $ 222,839 ​ $ 712,660 ​ $ 410,191 ​ $ 274,244 ​ $ 185,443 ​ $ 88,634 ​ $ 0 ​ $ 0 ​ $ 1,894,011 Current period gross charge-offs (3) ​ $ 0 ​ $ 587 ​ $ 985 ​ $ 817 ​ $ 619 ​ $ 449 ​ $ 0 ​ $ 0 ​ $ 3,457 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Consumer direct: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Performing ​ $ 25,696 ​ $ 74,558 ​ $ 46,111 ​ $ 24,982 ​ $ 12,330 ​ $ 9,068 ​ $ 7,135 ​ $ 63 ​ $ 199,943 Nonperforming ​ 0 ​ 17 ​ 43 ​ 36 ​ 45 ​ 58 ​ 74 ​ ​ 0 ​ 273 Total consumer direct ​ $ 25,696 ​ $ 74,575 ​ $ 46,154 ​ $ 25,018 ​ $ 12,375 ​ $ 9,126 ​ $ 7,209 ​ $ 63 ​ $ 200,216 Current period gross charge-offs (3)(4) ​ $ 0 ​ $ 170 ​ $ 345 ​ $ 75 ​ $ 90 ​ $ 304 ​ $ 1,251 ​ $ 0 ​ $ 2,235 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Home equity: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Performing ​ $ 9,193 ​ $ 63,121 ​ $ 58,435 ​ $ 42,151 ​ $ 44,730 ​ $ 106,479 ​ $ 178,452 ​ $ 28,748 ​ $ 531,309 Nonperforming ​ 0 ​ 0 ​ 591 ​ 777 ​ 517 ​ 441 ​ 724 ​ ​ 80 ​ 3,130 Total home equity ​ $ 9,193 ​ $ 63,121 ​ $ 59,026 ​ $ 42,928 ​ $ 45,247 ​ $ 106,920 ​ $ 179,176 ​ $ 28,828 ​ $ 534,439 Current period gross charge-offs (3) ​ $ 0 ​ $ 0 ​ $ 0 ​ $ 0 ​ $ 0 ​ $ 0 ​ $ 9 ​ $ 0 ​ $ 9 (1) FICO AB refers to higher tiered loans with FICO scores greater than or equal to 720. (2) FICO CDE refers to loans with FICO scores less than 720 and potentially higher risk. (3) For the three months ended March 31, 2026. (4) Includes overdraft gross charge-offs. ​ 17 Table of Contents ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revolving ​ Revolving ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans ​ Loans ​ ​ ​ (000’s omitted) ​ Term Loans Amortized Cost Basis by Origination Year ​ Amortized ​ Converted ​ ​ ​ December 31, 2025 ​ ​ ​ 2025 ​ ​ ​ 2024 ​ ​ ​ 2023 ​ ​ ​ 2022 ​ ​ ​ 2021 ​ ​ ​ 2020 & Prior ​ ​ ​ Cost Basis ​ ​ ​ to Term ​ ​ ​ Total Consumer mortgage: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ FICO AB (1) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Performing ​ $ 293,599 ​ $ 279,289 ​ $ 302,498 ​ $ 298,302 ​ $ 382,256 ​ $ 736,261 ​ $ 22,665 ​ $ 148,004 ​ $ 2,462,874 Nonperforming ​ 0 ​ 572 ​ 981 ​ 718 ​ 875 ​ 2,872 ​ 0 ​ ​ 0 ​ 6,018 Total FICO AB ​ 293,599 ​ 279,861 ​ 303,479 ​ 299,020 ​ 383,131 ​ 739,133 ​ 22,665 ​ ​ 148,004 ​ 2,468,892 FICO CDE (2) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Performing ​ 117,026 ​ 141,528 ​ 127,586 ​ 126,599 ​ 140,660 ​ 400,453 ​ 14,422 ​ ​ 53,855 ​ 1,122,129 Nonperforming ​ 0 ​ 3,845 ​ 3,626 ​ 4,325 ​ 1,546 ​ 11,964 ​ 0 ​ ​ 859 ​ 26,165 Total FICO CDE ​ 117,026 ​ 145,373 ​ 131,212 ​ 130,924 ​ 142,206 ​ 412,417 ​ 14,422 ​ ​ 54,714 ​ 1,148,294 Total consumer mortgage ​ $ 410,625 ​ $ 425,234 ​ $ 434,691 ​ $ 429,944 ​ $ 525,337 ​ $ 1,151,550 ​ $ 37,087 ​ $ 202,718 ​ $ 3,617,186 Current period gross charge-offs (3) ​ $ 0 ​ $ 0 ​ $ 21 ​ $ 5 ​ $ 0 ​ $ 30 ​ $ 0 ​ $ 0 ​ $ 56 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Consumer indirect: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Performing ​ $ 760,499 ​ $ 458,410 ​ $ 312,256 ​ $ 217,772 ​ $ 69,818 ​ $ 39,547 ​ $ 0 ​ $ 0 ​ $ 1,858,302 Nonperforming ​ 101 ​ 279 ​ 236 ​ 223 ​ 70 ​ 143 ​ 0 ​ ​ 0 ​ 1,052 Total consumer indirect ​ $ 760,600 ​ $ 458,689 ​ $ 312,492 ​ $ 217,995 ​ $ 69,888 ​ $ 39,690 ​ $ 0 ​ $ 0 ​ $ 1,859,354 Current period gross charge-offs (3) ​ $ 1,199 ​ $ 3,323 ​ $ 4,127 ​ $ 2,838 ​ $ 1,135 ​ $ 948 ​ $ 0 ​ $ 0 ​ $ 13,570 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Consumer direct: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Performing ​ $ 88,898 ​ $ 53,200 ​ $ 29,486 ​ $ 15,546 ​ $ 4,904 ​ $ 5,846 ​ $ 7,251 ​ $ 71 ​ $ 205,202 Nonperforming ​ 39 ​ 74 ​ 65 ​ 56 ​ 4 ​ 51 ​ 97 ​ ​ 7 ​ 393 Total consumer direct ​ $ 88,937 ​ $ 53,274 ​ $ 29,551 ​ $ 15,602 ​ $ 4,908 ​ $ 5,897 ​ $ 7,348 ​ $ 78 ​ $ 205,595 Current period gross charge-offs (3) ​ $ 205 ​ $ 891 ​ $ 701 ​ $ 392 ​ $ 55 ​ $ 25 ​ $ 232 ​ $ 0 ​ $ 2,501 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Home equity: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Performing ​ $ 65,113 ​ $ 60,987 ​ $ 44,399 ​ $ 46,641 ​ $ 45,505 ​ $ 66,152 ​ $ 172,782 ​ $ 29,091 ​ $ 530,670 Nonperforming ​ 0 ​ 290 ​ 773 ​ 543 ​ 71 ​ 704 ​ 620 ​ ​ 84 ​ 3,085 Total home equity ​ $ 65,113 ​ $ 61,277 ​ $ 45,172 ​ $ 47,184 ​ $ 45,576 ​ $ 66,856 ​ $ 173,402 ​ $ 29,175 ​ $ 533,755 Current period gross charge-offs (3) ​ $ 0 ​ $ 0 ​ $ 112 ​ $ 0 ​ $ 0 ​ $ 34 ​ $ 7 ​ $ 0 ​ $ 153 (1) FICO AB refers to higher tiered loans with FICO scores greater than or equal to 720. (2) FICO CDE refers to loans with FICO scores less than 720 and potentially higher risk. (3) For the year ended December 31, 2025. ​ 18 Table of Contents For nonaccrual business lending loans greater than $500,000 that do not share the same risk characteristics with a pool of loans, the company establishes individually assessed reserves using methods prescribed by GAAP. When management determines that foreclosure is probable or when the borrower is experiencing financial difficulty at the reporting date and repayment is expected to be provided substantially through the operation or sale of collateral, expected credit losses are based on the fair value of the collateral at the reporting date, adjusted for selling costs as appropriate. A summary of individually assessed business loans as of March 31, 2026 and December 31, 2025 follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2026 ​ December 31, 2025 ​ ​ ​ ​ ​ ​ Specifically ​ ​ ​ ​ ​ Specifically ​ ​ Carrying ​ Contractual ​ Allocated ​ Carrying ​ Contractual ​ Allocated (000’s omitted) ​ ​ ​ Balance ​ ​ ​ Balance ​ Allowance ​ Balance ​ ​ ​ Balance ​ Allowance Loans with allowance allocation: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial & industrial and other business loans ​ $ 2,249 ​ $ 2,249 ​ $ 1,562 ​ $ 3,669 ​ $ 4,000 ​ $ 1,403 Total ​ $ 2,249 ​ $ 2,249 ​ $ 1,562 ​ $ 3,669 ​ $ 4,000 ​ $ 1,403 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans without allowance allocation: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ CRE – owner occupied ​ $ 4,884 ​ $ 5,397 ​ $ 0 ​ $ 6,369 ​ $ 6,735 ​ $ 0 Commercial & industrial and other business loans ​ 7,232 ​ ​ 10,281 ​ ​ 0 ​ ​ 7,686 ​ ​ 10,345 ​ ​ 0 Total ​ $ 12,116 ​ $ 15,678 ​ $ 0 ​ $ 14,055 ​ $ 17,080 ​ $ 0 ​ The average carrying balance of individually assessed loans was $ 15.4 million and $ 39.8 million for the three months ended March 31, 2026 and 2025, respectively. An immaterial amount of interest income was recognized on individually assessed loans for the three months ended March 31, 2026 and 2025. ​ Occasionally, the Company modifies loans to borrowers experiencing financial difficulty by providing principal forgiveness, term extension, payment delay, or interest rate reduction. When principal forgiveness is provided, the amount of forgiveness is charged-off against the allowance for credit losses. ​ In some cases, the Company provides multiple types of modifications on one loan. Typically, one type of modification, such as a term extension, is granted initially. If the borrower continues to experience financial difficulty, another modification, such as principal forgiveness, may be granted. Upon the Company’s determination that a modified loan (or portion of a loan) has subsequently been deemed uncollectible, the loan (or a portion of the loan) is charged off. Therefore, the amortized cost basis of the loan is reduced by the uncollectible amount and the allowance for credit losses is adjusted by the same amount. The estimate of the allowance for credit losses includes historical losses from loans that were modified due to borrower financial difficulty, therefore a charge to the allowance for credit losses is generally not recorded upon modification. ​ There were no loans that were both experiencing financial difficulty and modified during the three months ended March 31, 2026. The following table presents the amortized cost basis of loans at March 31, 2025 that were both experiencing financial difficulty and modified during the three months ended March 31, 2025, by class and by type of modification. The percentage of the amortized cost basis of loans that were modified to borrowers experiencing financial difficulty as compared to the amortized cost basis of each class of financing receivable is also presented below. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortized Cost ​ Total Class of ​ ​ ​ Term ​ Financing ​ ​ ​ ​ ​ Extension ​ Receivable ​ Three Months Ended March 31, 2025 ​ ​ ​ ​ ​ ​ Consumer mortgage ​ $ 449 ​ 0.01 % Total ​ $ 449 ​ 0.01 % ​ ​ 19 Table of Contents The Company closely monitors the performance of loans that are modified to borrowers experiencing financial difficulty to understand the effectiveness of its modification efforts. The following table presents the performance of such loans that have been modified in the last 12 months. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2026 ​ ​ ​ ​ ​ ​ ​ ​ 90+ Days Past ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Past Due 30 – ​ Due and Still ​ ​ ​ ​ (000s omitted) ​ ​ ​ Current ​ ​ ​ 89 Days ​ ​ ​ Accruing ​ ​ ​ Non-Accrual ​ ​ ​ Total Commercial & industrial and other business loans ​ $ 63 ​ $ 0 ​ $ 0 ​ $ 2,249 ​ $ 2,312 Consumer mortgage ​ ​ 51 ​ 0 ​ 0 ​ 70 ​ 121 Total ​ $ 114 ​ $ 0 ​ $ 0 ​ $ 2,319 ​ $ 2,433 ​ There were no loans modified to borrowers with financial difficulty that had a payment default subsequent to modification during the three months ended March 31, 2026 and 2025. ​ Allowance for Credit Losses ​ The following presents by segment the activity in the allowance for credit losses during the three months ended March 31, 2026 and 2025: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, 2026 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Acquisition ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning ​ ​ ​ Charge- ​ ​ ​ ​ ​ ​ ​ ​ Allowance ​ ​ ​ ​ ​ ​ ​ ​ Ending (000’s omitted) ​ balance ​ offs ​ Recoveries ​ Adjustment ​ Provision ​ balance Business lending ​ $ 46,155 ​ $ ( 355 ) ​ $ 166 ​ $ 4 ​ $ 3,982 ​ $ 49,952 Consumer mortgage ​ 14,005 ​ ( 49 ) ​ 2 ​ 3 ​ ( 1,378 ) ​ 12,583 Consumer indirect ​ 20,914 ​ ( 3,457 ) ​ 2,231 ​ 0 ​ 1,002 ​ 20,690 Consumer direct (1) ​ 4,257 ​ ( 2,235 ) ​ 734 ​ 0 ​ 1,700 ​ 4,456 Home equity ​ 1,590 ​ ( 9 ) ​ 0 ​ ( 21 ) ​ ( 48 ) ​ 1,512 Unallocated ​ 1,000 ​ 0 ​ 0 ​ 0 ​ 0 ​ 1,000 Allowance for credit losses – loans ​ 87,921 ​ ( 6,105 ) ​ 3,133 ​ ( 14 ) ​ 5,258 ​ 90,193 Liability for off-balance sheet credit exposures ​ 1,075 ​ 0 ​ 0 ​ 0 ​ 378 ​ 1,453 Total allowance for credit losses and liability for off-balance sheet credit exposures ​ $ 88,996 ​ $ ( 6,105 ) ​ $ 3,133 ​ $ ( 14 ) ​ $ 5,636 ​ $ 91,646 (1) Includes overdraft charge-offs and recoveries. ​ 20 Table of Contents ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, 2025 ​ ​ ​ ​ Beginning ​ ​ ​ Charge- ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Ending (000’s omitted) ​ balance ​ offs ​ Recoveries ​ Provision ​ balance Business lending ​ $ 37,201 ​ $ ( 723 ) ​ $ 99 ​ $ 6,411 ​ $ 42,988 Consumer mortgage ​ 15,017 ​ ( 5 ) ​ 6 ​ ( 1,339 ) ​ 13,679 Consumer indirect ​ 20,895 ​ ( 3,965 ) ​ 1,694 ​ 1,122 ​ 19,746 Consumer direct ​ 3,453 ​ ( 560 ) ​ 232 ​ 908 ​ 4,033 Home equity ​ 1,548 ​ ( 7 ) ​ 0 ​ ( 147 ) ​ 1,394 Unallocated ​ 1,000 ​ 0 ​ 0 ​ 0 ​ 1,000 Allowance for credit losses – loans ​ 79,114 ​ ( 5,260 ) ​ 2,031 ​ 6,955 ​ 82,840 Liability for off-balance sheet credit exposures ​ 1,132 ​ ​ 0 ​ ​ 0 ​ ​ ( 265 ) ​ 867 Total allowance for credit losses and liability for off-balance sheet credit exposures ​ $ 80,246 ​ $ ( 5,260 ) ​ $ 2,031 ​ $ 6,690 ​ $ 83,707 ​ The allowance for credit losses increased to $ 90.2 million at March 31, 2026 compared to $ 87.9 million at December 31, 2025 and $ 82.8 million at March 31, 2025, reflective of an increase in loans outstanding and improvement in credit quality metrics. ​ Accrued interest receivable on loans, included in accrued interest and fees receivable on the consolidated statements of condition, totaled $ 38.5 million at March 31, 2026 and is excluded from the estimate of credit losses and amortized cost basis of loans. ​ The Company utilizes the historical loss rate on its loan portfolio as the initial basis for the estimate of credit losses using the cumulative loss, vintage loss and line loss methods, which is derived from the Company’s historical loss experience. To address changes and trends in current period credit metrics, qualitative adjustments to historical loss experience were made for differences in current loan-specific risk characteristics and to address current period delinquencies, charge-off rates, risk ratings, lack of loan level data through an entire economic cycle, changes in loan sizes and underwriting standards as well as the addition of acquired loans which were not underwritten by the Company. The Company considered historical losses immediately prior, through and following the Great Recession compared to the historical period used for modeling to adjust the historical information to account for longer-term expectations for loan credit performance. Under CECL, the Company is required to consider future economic conditions to determine current expected credit losses. Management selected an eight-quarter reasonable and supportable forecast period with a four-quarter reversion to the historical mean to use as part of the economic forecast and utilizes a two-quarter lag adjustment for economic factors that are not dependent on collateral values, and no lag for factors that utilize collateral values. Management determined that these qualitative adjustments were needed to adjust historical information for expected losses and to reflect changes as a result of current conditions. ​ For qualitative macroeconomic adjustments, the Company uses third-party forecasted economic data scenarios utilizing a base scenario and two alternative scenarios that are weighted, with forecasts available as of March 31, 2026. The results of these forecasts are applied to the quantitative loss history to calculate the qualitative economic adjustment component of the allowance for credit losses. The scenarios utilized forecast stable unemployment levels, and modest growth in GDP, real household income, and housing prices, offset by some declines in auto and commercial real estate prices. ​ Management developed expected loss estimates considering factors for segments as outlined below: ​ ● Business lending – non real estate: The Company selected projected unemployment and GDP as indicators of forecasted losses related to business lending and utilize both factors in an even weight for the calculation. The Company also considered delinquencies, risk rating changes, recent charge-off history and acquired loans as part of the review of estimated losses. ​ ● Business lending – real estate: The Company selected projected unemployment and commercial real estate values as indicators of forecasted losses related to commercial real estate loans and utilize both factors in an even weight for the calculation. For office properties, the Company selected projected office-specific commercial real estate values and vacancy rates and utilize both factors in an even weight for the calculation. The Company also considered the factors noted in business lending – non real estate. ​ ● Consumer mortgages and home equity: The Company selected projected unemployment and residential real estate values as indicators of forecasted losses related to mortgage lending and utilize both factors in an even weight for the calculation. In addition, current delinquencies, charge-offs and acquired loans were considered. 21 Table of Contents ● Consumer indirect: The Company selected projected unemployment and vehicle valuation indices as indicators of forecasted losses related to indirect lending and utilize both factors in an even weight for the calculation. In addition, current delinquencies, charge-offs and acquired loans were considered. ​ ● Consumer direct: The Company selected projected unemployment and inflation-adjusted household income as indicators of forecasted losses related to consumer direct lending and utilize both factors in an even weight for the calculation. In addition, current delinquencies, charge-offs and acquired loans were considered. ​ At March 31, 2026 and December 31, 2025, loans with a carrying amount of approximately $ 7.01 billion and $ 6.83 billion, respectively, were pledged for the availability to secure certain borrowings with the FHLB and FRB. There were $ 437.7 million and $ 450.0 million of borrowings outstanding under these arrangements at March 31, 2026 and December 31, 2025, respectively. ​ At March 31, 2026 and December 31, 2025, the carrying amount of residential real estate property in the process of foreclosure was $ 11.3 million and $ 9.4 million, respectively. ​ During the three months ended March 31, 2026 and 2025, the Company did not purchase any loans, while the Company sold $ 17.6 million of secondary market eligible residential consumer mortgage loans in each period. ​ NOTE F: GOODWILL AND IDENTIFIABLE INTANGIBLE ASSETS ​ The gross carrying amount and accumulated amortization for each type of identifiable intangible asset are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2026 ​ ​ ​ December 31, 2025 ​ ​ Gross ​ ​ ​ ​ Net ​ Gross ​ ​ ​ ​ Net ​ ​ ​ ​ Carrying ​ ​ ​ Accumulated ​ ​ ​ Carrying ​ ​ ​ Carrying ​ ​ ​ Accumulated ​ ​ ​ Carrying (000’s omitted) ​ Amount Amortization Amount Amount Amortization Amount Amortizing intangible assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Core deposit intangibles ​ $ 26,371 ​ $ ( 12,666 ) ​ $ 13,705 ​ $ 26,371 ​ $ ( 11,617 ) ​ $ 14,754 Other intangibles ​ 126,147 ​ ( 85,885 ) ​ 40,262 ​ 122,675 ​ ( 82,688 ) ​ 39,987 Total amortizing intangibles ​ $ 152,518 ​ $ ( 98,551 ) ​ $ 53,967 ​ $ 149,046 ​ $ ( 94,305 ) ​ $ 54,741 ​ The estimated aggregate amortization expense for each of the five succeeding fiscal years ended December 31 is as follows: ​ ​ ​ ​ ​ (000’s omitted) ​ ​ ​ Apr - Dec 2026 ​ $ 12,098 2027 ​ ​ 9,862 2028 ​ 7,891 2029 ​ 6,534 2030 ​ 5,259 Thereafter ​ 12,323 Total ​ $ 53,967 ​ A reconciliation of the carrying amount of the Company’s goodwill at December 31, 2025 and March 31, 2026 is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (000’s omitted) ​ December 31, 2025 ​ Additions/Adjustments ​ March 31, 2026 Goodwill ​ $ 887,975 ​ $ 1,372 ​ $ 889,347 ​ ​ ​ ​ ​ ​ 22 Table of Contents NOTE G: EARNINGS PER SHARE ​ The two-class method is used in the calculations of basic and diluted earnings per share. Under the two-class method, earnings available to common shareholders for the period are allocated between common shareholders and participating securities according to dividends declared and participation rights in undistributed earnings. Basic earnings per share are computed based on the weighted-average number of common shares outstanding for the period. Diluted earnings per share are based on the weighted-average number of shares outstanding, adjusted for the effect of potentially dilutive common shares such as the assumed exercise of stock options and the assumed issuance of restricted stock units (“RSUs”) and performance stock units (“PSUs”), which is calculated using the treasury stock method. Potentially dilutive common shares are excluded from the computation of diluted earnings per share in periods in which the effect would be antidilutive. ​ The following is a reconciliation of basic to diluted earnings per share for the three months ended March 31, 2026 and 2025: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ March 31, (000’s omitted, except per share data) ​ ​ ​ 2026 ​ ​ ​ 2025 Net income ​ $ 57,218 ​ $ 49,614 Income attributable to unvested stock-based compensation awards ​ ​ ( 196 ) ​ ​ ( 198 ) Income available to common shareholders ​ $ 57,022 ​ $ 49,416 ​ ​ ​ ​ ​ ​ ​ Weighted-average common shares outstanding – basic ​ ​ 52,655 ​ ​ 52,715 Basic earnings per share ​ $ 1.08 ​ $ 0.94 ​ ​ ​ ​ ​ ​ ​ Net income ​ $ 57,218 ​ $ 49,614 Income attributable to unvested stock-based compensation awards ​ ( 196 ) ​ ( 198 ) Income available to common shareholders ​ $ 57,022 ​ $ 49,416 ​ ​ ​ ​ ​ ​ ​ Weighted-average common shares outstanding – basic ​ 52,655 ​ 52,715 Assumed exercise of stock options and vesting of RSUs & PSUs ​ 130 ​ 204 Weighted-average common shares outstanding – diluted ​ 52,785 ​ 52,919 Diluted earnings per share ​ $ 1.08 ​ $ 0.93 ​ ​ ​ ​ ​ ​ ​ Anti-dilutive stock awards (1) ​ ​ 331 ​ ​ 234 (1) Represents the amount of stock options, RSUs, and PSUs that were excluded from the calculation of diluted earnings per share as the impact would have been anti-dilutive. ​ ​ 23 Table of Contents Stock Repurchase Program ​ At its December 2025 meeting, the Board of Directors of the Company (the “Board”) approved a new stock repurchase program authorizing the repurchase, at the discretion of senior management, of up to 2,633,000 shares of the Company’s common stock, in accordance with securities and banking laws and regulations, during the twelve-month period starting January 1, 2026. Any repurchased shares will be used for general corporate purposes, including those related to stock plan activities. The timing and extent of repurchases will depend on market conditions and other corporate considerations as determined at the Company’s discretion. There were 250,000 shares of treasury stock purchases made under this authorization during the first three months of 2026, with an average price paid per share of $ 61.87 . ​ At its December 2024 meeting, the Board approved a new stock repurchase program authorizing the repurchase, at the discretion of senior management, of up to 2,628,000 shares of the Company’s common stock, in accordance with securities and banking laws and regulations, during the twelve-month period starting January 1, 2025. Any repurchased shares will be used for general corporate purposes, including those related to stock plan activities. The timing and extent of repurchases will depend on market conditions and other corporate considerations as determined at the Company’s discretion. There were no shares of treasury stock purchases made under this authorization during the first three months of 2025. ​ NOTE H: COMMITMENTS, CONTINGENT LIABILITIES AND RESTRICTIONS ​ The Company is a party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments consist primarily of commitments to extend credit and standby letters of credit. Commitments to extend credit are agreements to lend to customers, generally having fixed expiration dates or other termination clauses that may require payment of a fee. These commitments consist principally of unused commercial and consumer credit lines. Standby letters of credit generally are contingent upon the failure of the customer to perform according to the terms of an underlying contract with a third party. The credit risks associated with commitments to extend credit and standby letters of credit are essentially the same as that involved with extending loans to customers and are subject to the Company’s normal credit policies. The Company’s liability for off-balance sheet credit exposures related to commitments to extend credit is included in accrued interest and other liabilities on the consolidated statements of condition and detailed in Note E. Collateral may be obtained based on management’s assessment of the customer’s creditworthiness. The fair value of the standby letters of credit is immaterial for disclosure. ​ The contract amounts of these commitments and contingencies are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, (000’s omitted) ​ ​ ​ 2026 ​ ​ ​ 2025 Commitments to extend credit ​ $ 1,938,122 ​ $ 1,912,429 Standby letters of credit ​ 106,352 ​ 92,145 Total ​ $ 2,044,474 ​ $ 2,004,574 ​ The Company entered into agreements to invest a total of $ 10.0 million and $ 8.5 million in investment tax credits generated by a solar energy producing company during the third quarter of 2024 and second quarter of 2025, respectively. The Company has elected to account for the investments using the proportional amortization method. At March 31, 2026, the balance of the Company’s investment in these tax credits was $ 2.5 million and the unfunded commitment related to the solar energy tax credit investments was $ 1.5 million. At December 31, 2025, the balance of the Company’s investment in these tax credits was $ 3.4 million and the unfunded commitment related to the solar energy tax credit investments was $ 1.5 million. These amounts were reflected in other assets and accrued interest and other liabilities, respectively, in the consolidated statements of condition. The Company funded the remaining commitment during the second quarter of 2026. During the three months ended March 31, 2026, the Company recognized $ 0.4 million of federal tax credits and $ 0.9 million of amortization of income tax credit investments in income taxes in the consolidated statements of income related to solar energy tax credits. ​ ​ 24 Table of Contents Legal Contingencies ​ On at least a quarterly basis, the Company assesses its liabilities and contingencies in connection with pending or threatened legal proceedings or other matters in which claims for monetary damages are asserted. For those matters where it is probable that the Company will incur losses and the amounts of the losses are reasonably estimable, the Company records an expense and corresponding liability in its consolidated financial statements. To the extent such matters could result in exposure in excess of that liability, the amount of such excess is not currently estimable. The range of losses that are reasonably possible for matters where an exposure is not currently estimable or considered probable is not believed to be material in the aggregate. This is based on information currently available to the Company and involves elements of judgment and significant uncertainties. ​ NOTE I: FAIR VALUE ​ Accounting standards establish a framework for measuring fair value and require certain disclosures about such fair value instruments. It defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (i.e. exit price). Inputs used to measure fair value are classified into the following hierarchy: ​ ​ ​ ● Level 1 - Quoted prices in active markets for identical assets or liabilities. ● Level 2 - Quoted prices in active markets for similar assets or liabilities, or quoted prices for identical or similar assets or liabilities in markets that are not active, or inputs other than quoted prices that are observable for the asset or liability. ● Level 3 - Significant valuation assumptions not readily observable in a market. ​ A financial instrument’s categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The following tables set forth the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis. There were no transfers between any of the levels for the periods presented. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2026 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Fair (000’s omitted) ​ ​ ​ Level 1 ​ ​ ​ Level 2 ​ ​ ​ Level 3 ​ ​ ​ Value Available-for-sale investment securities: ​ ​ ​ ​ ​ ​ ​ ​ U.S. Treasury and agency securities ​ $ 2,134,173 ​ $ 59,726 ​ $ 0 ​ $ 2,193,899 Obligations of state and political subdivisions ​ 0 ​ 374,575 ​ 0 ​ 374,575 Government agency mortgage-backed securities ​ 0 ​ 270,840 ​ 0 ​ 270,840 Corporate debt securities ​ 0 ​ 4,935 ​ 0 ​ 4,935 Government agency collateralized mortgage obligations ​ 0 ​ 3,883 ​ 0 ​ 3,883 Total available-for-sale investment securities ​ 2,134,173 ​ 713,959 ​ 0 ​ 2,848,132 Equity securities ​ 4,021 ​ 0 ​ 0 ​ 4,021 Mortgage loans held for sale ​ 0 ​ ​ 150 ​ ​ 0 ​ ​ 150 Commitments to originate real estate loans for sale ​ ​ 0 ​ ​ 0 ​ ​ 191 ​ ​ 191 Interest rate swap agreements asset ​ 0 ​ 5,233 ​ 0 ​ 5,233 Interest rate swap agreements liability ​ 0 ​ ( 6,625 ) ​ 0 ​ ( 6,625 ) Total ​ $ 2,138,194 ​ $ 712,717 ​ $ 191 ​ $ 2,851,102 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 25 Table of Contents ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2025 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Fair (000’s omitted) ​ ​ ​ Level 1 ​ ​ ​ Level 2 ​ ​ ​ Level 3 ​ ​ ​ Value Available-for-sale investment securities: ​ ​ ​ ​ ​ ​ ​ ​ U.S. Treasury and agency securities ​ $ 2,133,932 ​ $ 61,294 ​ $ 0 ​ $ 2,195,226 Obligations of state and political subdivisions ​ 0 ​ 391,917 ​ 0 ​ 391,917 Government agency mortgage-backed securities ​ 0 ​ 278,885 ​ 0 ​ 278,885 Corporate debt securities ​ 0 ​ 4,912 ​ 0 ​ 4,912 Government agency collateralized mortgage obligations ​ 0 ​ 4,401 ​ 0 ​ 4,401 Total available-for-sale investment securities ​ 2,133,932 ​ 741,409 ​ 0 ​ 2,875,341 Equity securities ​ 4,414 ​ 0 ​ 0 ​ 4,414 Mortgage loans held for sale ​ ​ 0 ​ 108 ​ 0 ​ 108 Commitments to originate real estate loans for sale ​ ​ 0 ​ ​ 0 ​ ​ 154 ​ ​ 154 Forward sales commitments ​ ​ 0 ​ ​ 15 ​ ​ 0 ​ ​ 15 Interest rate swap agreements asset ​ 0 ​ 7,524 ​ 0 ​ 7,524 Interest rate swap agreements liability ​ 0 ​ ( 7,524 ) ​ ​ 0 ​ ( 7,524 ) Total ​ $ 2,138,346 ​ $ 741,532 ​ $ 154 ​ $ 2,880,032 ​ The valuation techniques used to measure fair value for the items in the table above are as follows: ​ ● Available-for-sale investment securities and equity securities – The fair values of available-for-sale investment securities are based upon quoted prices, if available. If quoted prices are not available, fair values are measured using quoted market prices for similar securities or model-based valuation techniques. Level 1 securities include U.S. Treasury obligations and marketable equity securities that are traded by dealers or brokers in active over-the-counter markets. Level 2 securities include U.S. agency securities, mortgage-backed securities issued by government-sponsored entities, municipal securities and corporate debt securities that are valued by reference to prices for similar securities or through model-based techniques in which all significant inputs, such as reported trades, trade execution data, interest rate swap yield curves, market prepayment speeds, credit information, market spreads, and the security’s terms and conditions, are observable. See Note D for further disclosure of the fair value of investment securities. ​ ● Mortgage loans held for sale – The Company has elected to value loans held for sale at fair value in order to more closely match the gains and losses associated with loans held for sale with the gains and losses on forward sales contracts. Accordingly, the impact on the valuation is recognized in the Company’s consolidated statements of income. All mortgage loans held for sale are current and in performing status. The fair value of mortgage loans held for sale is determined using quoted secondary-market prices of loans with similar characteristics and, as such, has been classified as a Level 2 valuation. The unpaid principal value of mortgage loans held for sale was approximately $ 0.1 million at March 31, 2026 and December 31, 2025. Mortgage loans held for sale are included in other assets in the consolidated statements of condition. The unrealized gain on mortgage loans held for sale is recognized in mortgage banking revenues in the consolidated statements of income and is immaterial. ​ ● Commitments to originate real estate loans for sale – The Company enters into various commitments to originate residential real estate loans for sale. Such commitments are considered to be derivative financial instruments and therefore are carried at estimated fair value in the other asset or other liability section of the consolidated statements of condition. The estimated fair value of these commitments is determined using quoted secondary market prices obtained from certain government-sponsored entities. Additionally, accounting guidance requires the expected net future cash flows related to the associated servicing of the loan to be included in the fair value measurement of the derivative. The expected net future cash flows are based on a valuation model that calculates the present value of estimated net servicing income. The valuation model incorporates assumptions that market participants would use in estimating future net servicing income. Such assumptions include estimates of the cost of servicing loans, appropriate discount rate and prepayment speeds. The determination of expected net cash flows is considered a significant unobservable input contributing to the Level 3 classification of commitments to originate real estate loans for sale. ​ ​ 26 Table of Contents ● Forward sales commitments – The Company enters into forward sales commitments to sell certain residential real estate loans. Such commitments are considered to be derivative financial instruments and, therefore, are carried at estimated fair value in the other asset or other liability section of the consolidated statements of condition. The fair value of these forward sales commitments is primarily measured by obtaining pricing from certain government-sponsored entities and reflects the underlying price the entity would pay the Company for an immediate sale on these mortgages. As such, these instruments are classified as Level 2 in the fair value hierarchy. ​ ● Interest rate swaps – The interest rate swaps are reported at their fair value utilizing Level 2 inputs from a third-party provider. The fair value measurement of the interest rate swap is determined by calculating the difference between the discounted fixed rate cash flows and the discounted variable rate cash flows. Variable cash flows are based on the expectation of future interest rates derived from observed market interest rate curves. ​ The changes in Level 3 assets measured at fair value on a recurring basis are immaterial. ​ The fair value information of assets and liabilities measured on a non-recurring basis presented below is not as of the period-end, but rather as of the date the fair value adjustment was recorded closest to the date presented. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2026 ​ December 31, 2025 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Fair ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Fair (000's omitted) ​ Level 1 ​ Level 2 ​ Level 3 ​ Value ​ Level 1 ​ Level 2 ​ Level 3 ​ ​ ​ Value Individually assessed loans ​ $ 0 ​ $ 0 ​ $ 3,174 $ 3,174 ​ $ 0 ​ $ 0 ​ $ 14,361 $ 14,361 Other real estate owned ​ 0 ​ ​ 0 ​ ​ 5,602 ​ 5,602 ​ ​ 0 ​ ​ 0 ​ ​ 5,778 ​ 5,778 Mortgage servicing rights ​ 0 ​ 0 ​ 906 906 ​ 0 ​ 0 ​ 853 853 Contingent consideration ​ ​ 0 ​ ​ 0 ​ ​ ( 7,469 ) ​ ​ ( 7,469 ) ​ ​ 0 ​ ​ 0 ​ ​ ( 9,220 ) ​ ​ ( 9,220 ) Total ​ $ 0 ​ $ 0 ​ $ 2,213 $ 2,213 ​ $ 0 ​ $ 0 ​ $ 11,772 $ 11,772 ​ Loans are generally not recorded at fair value on a recurring basis. Periodically, the Company records nonrecurring adjustments to the carrying value of loans based on fair value measurements for partial charge-offs of the uncollectible portions of those loans. Nonrecurring adjustments also include certain impairment amounts for collateral-dependent loans calculated when establishing the allowance for credit losses. Such amounts are generally based on the fair value of the underlying collateral supporting the loan and, as a result, the carrying value of the loan less the calculated valuation amount does not necessarily represent the fair value of the loan. Real estate collateral is typically valued using independent appraisals or other indications of value based on recent comparable sales of similar properties or assumptions generally observable in the marketplace, adjusted for non-observable inputs. Thus, the resulting nonrecurring fair value measurements are generally classified as Level 3. Estimates of fair value used for other collateral supporting commercial loans generally are based on assumptions not observable in the marketplace and, therefore, such valuations classify as Level 3. ​ Other real estate owned (“OREO”) is valued at the time the loan is foreclosed upon and the asset is transferred to OREO. The value is based primarily on third-party appraisals, less estimated costs to sell, and may be further discounted based on management’s historical knowledge, changes in market conditions from the time of valuation, and/or management’s expertise and knowledge of the customer and customer’s business. Such non-observable assumptions result in a Level 3 classification of the inputs for determining fair value. The carrying value of OREO may be limited by the contractual balance of the related former loan and when this occurs OREO is not considered to be carried at fair value or included in the fair value hierarchy disclosures. OREO is reviewed and evaluated on at least an annual basis for additional impairment and adjusted accordingly, based on the same factors identified above. The Company recovers the carrying value of OREO through the sale of the property. The ability to affect future sales prices is subject to market conditions and factors beyond the Company’s control and may impact the estimated fair value of a property. ​ Originated mortgage servicing rights are recorded at their fair value at the time of sale of the underlying loan, and are amortized in proportion to and over the estimated period of net servicing income. The fair value of mortgage servicing rights is based on a valuation model incorporating inputs that market participants would use in estimating future net servicing income. Such inputs include estimates of the cost of servicing loans, appropriate discount rate and prepayment speeds and are considered to be unobservable and contribute to the Level 3 classification of mortgage servicing rights. In accordance with GAAP, the Company records impairment charges, on a nonrecurring basis, when the carrying value of a stratum exceeds its estimated fair value. Impairment is recognized through a valuation allowance. There was a valuation allowance of approximately $ 0.3 million at March 31, 2026 and December 31, 2025. 27 Table of Contents The Company has recorded contingent consideration liabilities that arise from acquisition activity. The contingent consideration is recorded at fair value at the date of acquisition. The valuation of contingent consideration is calculated using an income approach method, which provides an estimation of the fair value of an asset or liability based on future cash flows over a discrete projection period, discounted to present value using an appropriate rate of return. The assumptions used in the valuation calculation are based on significant unobservable inputs, therefore such valuations classify as Level 3. ​ During 2025, the Company made the final required payment for the Creative Plan Designs Limited (“CPD”) contract holdback contingent consideration of $ 0.1 million, the first required payment for the CPD revenue-based contingent consideration arrangement of $ 0.6 million and aggregate payments of $ 1.0 million for contingent consideration arrangements related to OneGroup acquisitions in 2023 and 2024, and BPA acquisitions made in 2025. ​ During the first quarter of 2026, the Company made aggregate payments of $ 2.0 million for contingent consideration arrangements related to prior period BPAS and NISI acquisitions. ​ The Company evaluates goodwill for impairment on an annual basis, or more often if events or circumstances indicate there may be impairment. The Company did not recognize an impairment charge during the three months ended March 31, 2026 and 2025. See Note F for more detail. ​ The Company determines fair values based on quoted market values, where available, estimates of present values, or other valuation techniques. Those techniques are significantly affected by the assumptions used, including, but not limited to, the discount rate and estimates of future cash flows. In that regard, the derived fair value estimates cannot be substantiated by comparison to independent markets and, in many cases, may not be realized in immediate settlement of the instrument. The significant unobservable inputs used in the determination of fair value of assets classified as Level 3 on a recurring or non-recurring basis are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Significant Unobservable ​ ​ Fair Value at ​ ​ ​ ​ ​ Input Range (000's omitted, except per loan data) ​ March 31, 2026 ​ Valuation Technique ​ Significant Unobservable Inputs ​ (Weighted Average) Individually assessed loans ​ $ 3,174 Fair value of collateral Estimated cost of disposal/market adjustment 27.2 % Other real estate owned ​ ​ 5,602 Fair value of collateral Estimated cost of disposal/market adjustment 9.0 % - 27.2 % ( 27.0 %) ​ Commitments to originate real estate loans for sale ​ ​ 191 ​ Discounted cash flow ​ Embedded servicing value ​ 1.0 % Mortgage servicing rights ​ 906 Discounted cash flow Weighted average constant prepayment rate 24.3 % - 24.7 % ( 24.3 %) ​ ​ ​ ​ ​ ​ ​ Weighted average discount rate 5.1 % - 5.6 % ( 5.6 %) ​ Contingent consideration ​ ​ ( 7,469 ) ​ Discounted cash flow ​ Discount rate ​ 11.9 % - 18.4 % ( 13.1 %) ​ ​ ​ ​ ​ ​ ​ ​ Probability of achievement ​ 30.0 % - 82.0 % ( 57.0 %) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Significant Unobservable ​ ​ Fair Value at ​ ​ ​ ​ ​ Input Range (000's omitted, except per loan data) ​ December 31, 2025 ​ Valuation Technique ​ Significant Unobservable Inputs ​ (Weighted Average) Individually assessed loans ​ $ 14,361 Fair value of collateral Estimated cost of disposal/market adjustment 27.2 % Other real estate owned ​ ​ 5,778 Fair value of collateral Estimated cost of disposal/market adjustment 9.0 % - 27.2 % (26.8%) ​ Commitments to originate real estate loans for sale ​ ​ 154 ​ Discounted cash flow ​ Embedded servicing value ​ 1.0 % Mortgage servicing rights ​ 853 Discounted cash flow Weighted average constant prepayment rate 22.6 % - 25.5 % (22.8%) ​ ​ ​ ​ ​ ​ ​ Weighted average discount rate 4.9 % - 5.5 % (5.5%) ​ Contingent consideration ​ ​ ( 9,220 ) ​ Discounted cash flow ​ Discount rate ​ 12.2 % - 18.4 % ( 13.6 %) ​ ​ ​ ​ ​ ​ ​ ​ Probability of achievement ​ 30.0 % - 82.0 % ( 65.6 %) ​ ​ The significant unobservable inputs used in the determination of the fair value of assets classified as Level 3 have an inherent measurement uncertainty that, if changed, could result in higher or lower fair value measurements of these assets as of the reporting date. The weighted average of the estimated cost of disposal/market adjustment for individually assessed loans was calculated by dividing the total of the book value of the collateral of the individually assessed loans classified as Level 3 by the total of the fair value of the collateral of the individually assessed loans classified as Level 3. The weighted average of the estimated cost of disposal/market adjustment for other real estate owned was calculated by dividing the total of the differences between the appraisal values of the real estate and the book values of the real estate divided by the totals of the appraisal values of the real estate. The weighted average of the constant prepayment rate for mortgage servicing rights was calculated by adding the constant prepayment rates used in each loan pool weighted by the balance in each loan pool. The weighted average of the discount rate for mortgage servicing rights was calculated by adding the discount rates used in each loan pool weighted by the balance in each loan pool. The weighted average of the discount rate for the contingent consideration was calculated by adding the discount rates used for the calculation of the fair value of each payment of contingent consideration, weighted by the amount of the payment as part of the total fair value of contingent consideration. The weighted average of the probability of achievement was determined by calculating the proportion of the probability-weighted payment of the total maximum payment, weighted by the amount of the payment as part of the total fair value of contingent consideration. 28 Table of Contents Certain financial instruments and all nonfinancial instruments are excluded from fair value disclosure requirements. Accordingly, the aggregate fair value amounts presented do not represent the underlying value of the Company. The carrying amounts and estimated fair values of the Company’s other financial instruments that are not accounted for at fair value at March 31, 2026 and December 31, 2025 are presented below. The table presented below excludes other financial instruments for which the carrying value approximates fair value including cash and cash equivalents, accrued interest receivable and accrued interest payable. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2026 ​ December 31, 2025 ​ ​ ​ ​ Carrying ​ ​ ​ Fair ​ ​ ​ Carrying ​ ​ ​ Fair (000’s omitted) ​ Value ​ Value ​ Value ​ Value Financial assets: ​ ​ ​ ​ ​ ​ ​ ​ Net loans ​ $ 11,040,991 ​ $ 10,911,984 ​ $ 10,861,836 ​ $ 10,745,154 Held-to-maturity securities ​ ​ 1,460,750 ​ ​ 1,362,112 ​ ​ 1,454,166 ​ ​ 1,370,464 Other investment securities ​ ​ 5,144 ​ ​ 5,144 ​ ​ 0 ​ ​ 0 Financial liabilities: ​ ​ ​ ​ ​ ​ ​ ​ Deposits ​ 14,870,122 ​ 14,861,223 ​ 14,387,085 ​ 14,377,084 Securities sold under agreement to repurchase, short-term ​ 201,027 ​ 201,027 ​ 231,163 ​ 231,163 Other Federal Home Loan Bank borrowings ​ 438,081 ​ 442,864 ​ 450,439 ​ 456,821 ​ The following is a further description of the principal valuation methods used by the Company to estimate the fair values of its financial instruments. ​ Loans have been classified as a Level 3 valuation. Fair values for variable rate loans that reprice frequently are based on carrying values. Fair values for fixed rate loans are estimated using discounted cash flows and interest rates currently being offered for loans with similar terms to borrowers of similar credit quality. ​ The fair values of held-to-maturity U.S. Treasury investment securities are based upon quoted prices, if available. If quoted prices are not available, fair values are measured using quoted market prices for similar securities or model-based valuation techniques. Held-to-maturity U.S. Treasury securities have been classified as a Level 1 valuation. Held-to-maturity government agency mortgage-backed securities have been classified as a Level 2 valuation. The fair values of held-to-maturity government agency mortgage-backed securities are based on current market rates for similar products. ​ Deposits have been classified as a Level 2 valuation. The fair value of demand deposits, interest-bearing checking deposits, savings accounts and money market deposits is the amount payable on demand at the reporting date. The fair value of time deposit obligations are based on current market rates for similar securities. ​ Borrowings have been classified as a Level 2 valuation. The fair value of overnight borrowings and securities sold under agreement to repurchase, short-term, is the amount payable on demand at the reporting date. Fair values for other FHLB borrowings are estimated using discounted cash flows and interest rates currently being offered on similar securities. ​ Other financial assets and liabilities: cash and cash equivalents have been classified as a Level 1 valuation, while accrued interest receivable and accrued interest payable have been classified as a Level 2 valuation. The fair values of each approximate the respective carrying values because the instruments are payable on demand or have short-term maturities and present relatively low credit risk and interest rate risk. ​ NOTE J: DERIVATIVE INSTRUMENTS ​ The Company is party to derivative financial instruments in the normal course of business to meet the financing needs of its customers and to manage its exposure to fluctuation in interest rates and credit risk. These financial instruments have been limited to interest rate swap agreements and risk participation agreements. The Company does not hold or issue derivative financial instruments for trading or other speculative purposes. ​ ​ 29 Table of Contents Interest Rate Swaps ​ The Company enters into certain interest rate swaps to hedge the exposure to variability in forecasted cash flows from floating-rate loans. These swaps are considered derivatives and are designated as cash flow hedges. Interest rate swaps are recorded within other assets or accrued interest and other liabilities in the consolidated statements of condition at their estimated fair value. For qualifying cash flow hedges, changes in the fair value of the derivatives are recorded in other comprehensive income and recognized in the consolidated statements of income as the hedged item affects net income. Derivative amounts affecting net income are recognized in the consolidated statements of income consistent with the classification of the hedged item in net interest income. If the hedge relationship is terminated, then the change in value of the derivative recorded in accumulated other comprehensive loss is recognized in net income when the cash flows that were hedged affect net income. For hedge relationships that are discontinued because a forecasted transaction is expected to not occur according to the original hedge forecast, any related derivative values recorded in accumulated other comprehensive loss are immediately recognized in net income. There were no components of derivative gains or losses excluded from the assessment of hedge effectiveness for the periods presented. ​ The Company enters into certain interest rate swaps to assist customers in managing their interest rate risk. These swaps are considered derivatives, but are not designated as hedging relationships. These instruments have associated interest rate and credit risk. To mitigate the interest rate risk, the Company enters into offsetting interest rate swaps with counterparties, which are also considered derivatives and are not designated as hedging relationships. Interest rate swaps are recorded within other assets or accrued interest and other liabilities on the consolidated statements of condition at their estimated fair value. The terms of the interest rate swaps with the customer and the counterparties offset each other, with the only difference being counterparty credit risk. Any changes in the fair value of the underlying derivative contracts are reported in other banking services noninterest revenue in the consolidated statements of income. ​ Risk Participation Agreements ​ The Company may enter into a risk participation agreement (“RPA”) with another institution as a means to assume a portion of the credit risk associated with a loan structure which includes a derivative instrument, in exchange for fee income commensurate with the risk assumed, referred to as an “RPA sold”. In addition, in an effort to reduce the credit risk associated with an interest rate swap agreement with a borrower for whom the Company has provided a loan structured with a derivative, the Company may purchase an RPA from an institution participating in the facility in exchange for a fee commensurate with the risk shared, referred to as an “RPA purchased”. ​ Forward Sales Commitments ​ The Company enters into forward sales commitments for the future delivery of residential mortgage loans, and interest rate lock commitments to fund loans at a specified interest rate. The forward sales commitments are utilized to reduce interest rate risk associated with interest rate lock commitments and loans held for sale. Changes in the estimated fair value of the forward sales commitments and interest rate lock commitments subsequent to inception are based on changes in the fair value of the underlying loan resulting from the fulfillment of the commitment and changes in the probability that the loan will fund within the terms of the commitment, which is affected primarily by changes in interest rates and the passage of time. At inception and during the life of the interest rate lock commitment, the Company includes the expected net future cash flows related to the associated servicing of the loan as part of the fair value measurement of the interest rate lock commitments. ​ ​ 30 Table of Contents Notional values and fair values of derivative instruments as of March 31, 2026 and December 31, 2025 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2026 ​ ​ Derivative Assets ​ Derivative Liabilities ​ ​ ​ ​ ​ Consolidated ​ ​ ​ ​ ​ ​ ​ Consolidated ​ ​ ​ ​ ​ Notional ​ Statement of ​ Fair ​ Notional ​ Statement of ​ Fair (000’s omitted) ​ Amount ​ Condition Location ​ Value ​ Amount ​ Condition Location ​ Value Derivatives designated as hedging instruments under Subtopic 815-20: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate swaps ​ $ 0 ​ Other assets ​ $ 0 ​ $ 250,000 ​ Accrued interest and other liabilities ​ $ 1,392 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivatives not designated as hedging instruments under Subtopic 815-20: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commitments to originate real estate loans for sale ​ ​ 5,847 Other assets ​ ​ 189 ​ ​ 0 Accrued interest and other liabilities ​ ​ 0 Interest rate swaps ​ 545,799 Other assets ​ 5,233 ​ 545,799 Accrued interest and other liabilities ​ 5,233 RPA sold ​ 0 Other assets ​ 0 ​ 96,632 Accrued interest and other liabilities ​ 0 RPA purchased ​ 72,181 Other assets ​ 0 ​ 0 Accrued interest and other liabilities ​ 0 Subtotal ​ ​ 623,827 ​ ​ ​ ​ 5,422 ​ ​ 642,431 ​ ​ ​ ​ 5,233 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total derivatives ​ $ 623,827 ​ ​ ​ $ 5,422 ​ $ 892,431 ​ ​ $ 6,625 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2025 ​ ​ Derivative Assets ​ Derivative Liabilities ​ ​ ​ ​ ​ Consolidated ​ ​ ​ ​ ​ ​ ​ Consolidated ​ ​ ​ ​ ​ Notional ​ Statement of ​ Fair ​ Notional ​ Statement of ​ Fair (000’s omitted) ​ ​ ​ Amount ​ Condition Location ​ Value ​ Amount ​ Condition Location ​ Value Derivatives not designated as hedging instruments under Subtopic 815-20: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commitments to originate real estate loans for sale ​ $ 5,631 Other assets ​ $ 154 ​ $ 0 Accrued interest and other liabilities ​ $ 0 Forward sales commitments ​ ​ 763 ​ Other assets ​ ​ 15 ​ ​ 0 ​ Accrued interest and other liabilities ​ ​ 0 Interest rate swaps ​ 459,251 Other assets ​ 7,524 ​ 459,251 Accrued interest and other liabilities ​ 7,524 RPA sold ​ ​ 0 ​ Other assets ​ ​ 0 ​ ​ 83,843 ​ Accrued interest and other liabilities ​ ​ 0 RPA purchased ​ 73,976 Other assets ​ 0 ​ 0 Accrued interest and other liabilities ​ 0 Total derivatives ​ $ 539,621 ​ ​ ​ $ 7,693 ​ $ 543,094 ​ ​ $ 7,524 ​ The notional amount for interest rate swaps represents the underlying principal amount used to calculate interest payments that are exchanged periodically. The notional amount for risk participation agreements represents the amount of exposure assumed or shared in case of borrower default. The notional amount for commitments to originate real estate loans for sale represents the unpaid principal amount of loans that have been committed to originate. ​ The following table presents derivative instruments, by contract type, used in cash flow hedge accounting relationships, and the amounts reclassified from accumulated other comprehensive loss (“AOCI”) to income and amounts recorded in other comprehensive income (“OCI”) for the three months ended March 31, 2026. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, 2026 ​ ​ ​ Amounts reclassified ​ ​ Amounts recorded ​ ​ Total change in (000’s omitted) ​ ​ ​ ​ from AOCI to income ​ ​ in OCI ​ ​ OCI for period Contract type ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate (1) ​ $ ( 52 ) ​ $ ( 1,392 ) ​ $ ( 1,340 ) (1) Gains and losses on cash flow hedging relationships are recorded in interest income. ​ Over the next 12 months, the Company expects that approximately $ 0.6 million of after-tax net loss recorded in accumulated other comprehensive loss at March 31, 2026 related to cash flow hedges will be recognized in net income. No cash flow hedges have been terminated. ​ 31 Table of Contents Fee income earned on interest rate swaps and risk participation agreements is recognized in other banking services noninterest revenues in the consolidated statements of income during the period the derivative instrument is executed. During the three months ended March 31, 2026 and March 31, 2025, the Company recognized $ 1.0 million and $ 0.3 million of fee income associated with interest rate swaps and RPAs, respectively. ​ Cash collateral is posted by the Company with counterparties to secure certain derivatives, which is restricted cash and is included in cash and cash equivalents on the consolidated statements of condition. The amount of such collateral was $ 14.8 million at March 31, 2026 and December 31, 2025. ​ The Company assessed its counterparty risk at March 31, 2026 and determined any credit risk inherent in the derivative contracts was not material. Further information about the fair value of derivative financial instruments can be found in Note I to these consolidated financial statements. ​ NOTE K: SEGMENT INFORMATION ​ Operating segments are components of an enterprise, which are evaluated regularly by the chief operating decision maker (“CODM”) in deciding how to allocate resources and assess performance. The Company’s CODM is the President and Chief Executive Officer of the Company. The Company has identified (1) Banking and Corporate, (2) Employee Benefit Services, (3) Insurance Services, and (4) Wealth Management Services as its reportable segments and determined that segment adjusted income before income taxes is the reported measure of segment profit or loss. See “Note A Summary of Significant Accounting Policies” contained in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025, as filed with the SEC on February 27, 2026, for further detail on the factors used to identify the Company’s reportable segments and reported measure of segment profit or loss. ​ CBNA operates the Banking and Corporate segment that provides a wide array of lending and depository-related products and services to individuals, businesses, and governmental units with branch locations in Upstate New York as well as Northeastern Pennsylvania, Vermont, Western Massachusetts and Southern New Hampshire. In addition to these general intermediation services, the Banking and Corporate segment provides treasury management solutions and payment processing services. The Banking and Corporate segment also includes certain corporate overhead-related expenses. ​ The Employee Benefit Services segment, which includes the operating subsidiaries of BPA, BPAS Actuarial & Pension Services, LLC, BPAS Trust Company of Puerto Rico, Northeast Retirement Services, LLC, Global Trust Company, Inc., Hand Benefits & Trust Company and Hand Securities Inc., provides employee benefit trust, collective investment fund, retirement plan and health savings account administration, fund administration, transfer agency, actuarial, health and welfare consulting services and introducing broker-dealer services. ​ The Insurance Services segment includes the operating subsidiary OneGroup, a full-service insurance agency offering personal and commercial lines of insurance and other risk management products and services, as well as the Company’s equity method investment in Leap. ​ The Wealth Management Services segment is comprised of wealth management services including trust services provided by the Nottingham Trust division within the Bank, broker-dealer and investment advisory services provided by NISI and Nottingham Wealth Partners, Inc., as well as asset management services provided by Nottingham Advisors, Inc. ​ ​ 32 Table of Contents The accounting policies used in the disclosure of business segments are the same as those described in “Note A Summary of Significant Accounting Policies” contained in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025, as filed with the SEC on February 27, 2026, except as follows. Segment operating revenues exclude certain items considered non-core to the operating performance of the business including realized and unrealized gains or losses on investment securities. Significant segment expenses are the expense categories significant to the segment, regularly provided to or easily computed from information regularly provided to the CODM and included in segment adjusted income before income taxes. Segment adjusted income before income taxes also excludes certain items considered non-core to the operating performance of the business including amortization of intangible assets, acquisition expenses and litigation accrual. Both segment operating revenues and significant segment expenses include certain intersegment activity associated with transactions between the segments and are eliminated in consolidation. Segment assets include certain segment cash balances held as deposits with CBNA and are eliminated in consolidation. ​ The CODM uses segment adjusted income before income taxes to measure performance and allocate resources, including employees, property and financial or capital resources, for all of the Company’s segments. The CODM considers current period actual-to-current period budget and current period actual-to-prior period actual variances on a monthly basis for each of the Company’s segments along with comparisons of the actual segment results with one another. Segment adjusted income before income taxes is also used as a factor in the determination of incentive compensation for key employees of the segments including the segment leaders. ​ There are no transactions with a single customer that result in revenues that exceed 10 percent of consolidated total revenues. ​ ​ 33 Table of Contents Information about reportable segments and reconciliation of the information to the consolidated financial statements follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Employee ​ ​ ​ ​ Wealth ​ ​ ​ ​ Banking and ​ Benefit ​ Insurance ​ Management ​ ​ (000’s omitted) ​ ​ Corporate ​ ​ Services ​ ​ Services ​ ​ Services ​ ​ Total Three Months Ended March 31, 2026 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net interest income from external customers ​ $ 134,579 ​ $ 133 ​ $ 0 ​ $ 0 ​ $ 134,712 Noninterest revenues from external customers ​ ​ 21,752 ​ ​ 34,591 ​ ​ 12,586 ​ ​ 10,372 ​ ​ 79,301 Revenues from external customers ​ ​ 156,331 ​ ​ 34,724 ​ ​ 12,586 ​ ​ 10,372 ​ ​ 214,013 Equity in net loss of investees accounted for by the equity method ​ ​ 0 ​ ​ 0 ​ ​ ( 326 ) ​ ​ 0 ​ ​ ( 326 ) Intersegment revenues ​ ​ ( 800 ) ​ ​ 1,587 ​ ​ 71 ​ ​ 691 ​ ​ 1,549 ​ ​ ​ 155,531 ​ ​ 36,311 ​ ​ 12,331 ​ ​ 11,063 ​ ​ 215,236 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Reconciliation of revenues (segment operating revenues): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Elimination of intersegment revenues ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ( 1,549 ) Other revenues (a) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ( 401 ) Total consolidated revenues ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 213,286 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Less segment expenses: (b) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Provision for credit losses ​ ​ 5,636 ​ ​ 0 ​ ​ 0 ​ ​ 0 ​ ​ ​ Salaries and employee benefits ​ ​ 50,130 ​ ​ 16,646 ​ ​ 8,582 ​ ​ 5,921 ​ ​ ​ Data processing and communications ​ ​ 14,948 ​ ​ 1,217 ​ ​ 971 ​ ​ 735 ​ ​ ​ Occupancy and equipment ​ ​ 13,292 ​ ​ 1,029 ​ ​ 442 ​ ​ 144 ​ ​ ​ Legal and professional fees ​ ​ 2,996 ​ ​ 2,070 ​ ​ 79 ​ ​ 224 ​ ​ ​ Business development and marketing ​ ​ 2,223 ​ ​ 104 ​ ​ 140 ​ ​ 68 ​ ​ ​ Other segment items (c) ​ ​ 6,695 ​ ​ 918 ​ ​ 268 ​ ​ 64 ​ ​ ​ Segment adjusted income before income taxes ​ $ 59,611 ​ $ 14,327 ​ $ 1,849 ​ $ 3,907 ​ $ 79,694 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Reconciliation of profit or loss (segment adjusted income before income taxes): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized loss on equity securities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ( 401 ) Amortization of intangible assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ( 4,246 ) Acquisition expenses ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ( 433 ) Total consolidated income before income taxes ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 74,614 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other segment disclosures: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest income ​ $ 179,853 ​ $ 946 ​ $ 45 ​ $ 171 ​ $ 181,015 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Reconciliation of interest income: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Elimination of intersegment interest income ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ( 1,028 ) Total consolidated interest income ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 179,987 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest expense ​ $ 46,303 ​ $ 0 ​ $ 0 ​ $ 0 ​ $ 46,303 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Reconciliation of interest expense: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Elimination of intersegment interest expense ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ( 1,028 ) Total consolidated interest expense ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 45,275 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Depreciation (d) ​ $ 4,922 ​ $ 200 ​ $ 88 ​ $ 45 ​ $ 5,255 Amortization of intangible assets ​ ​ 1,095 ​ ​ 1,834 ​ ​ 1,188 ​ ​ 129 ​ ​ 4,246 Goodwill ​ ​ 764,714 ​ ​ 91,046 ​ ​ 29,924 ​ ​ 3,663 ​ ​ 889,347 Core deposit intangibles, net ​ ​ 13,705 ​ ​ 0 ​ ​ 0 ​ ​ 0 ​ ​ 13,705 Other intangibles, net ​ ​ 476 ​ ​ 18,071 ​ ​ 20,274 ​ ​ 1,441 ​ ​ 40,262 Segment assets ​ ​ 17,461,328 ​ ​ 223,691 ​ ​ 113,117 ​ ​ 42,594 ​ ​ 17,840,730 ​ ​ ​ ​ ​ ​ ​ Reconciliation of segment assets: ​ ​ ​ ​ ​ ​ Elimination of intersegment cash and deposits ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ( 95,871 ) Total consolidated assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 17,744,859 (a) Other revenues includes $ 401 of unrealized loss on equity securities. (b) The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM. Intersegment expenses are included within the amounts shown. (c) Other segment items for each reportable segment includes: Banking and Corporate – FDIC insurance expense, office supplies and postage expense, fraud losses and other writedowns, education, recruiting and travel expense and various miscellaneous expenses partially offset by a benefit related to the non-service related components of the Company's pension. Employee Benefit Services – Certain intersegment technology and rent related overhead expense allocations, education, recruiting and travel expense, office supplies and postage expense and various miscellaneous expenses partially offset by a benefit related to the non-service related components of the Company's pension. Insurance Services – Education, recruiting and travel expense, certain intersegment technology and rent related overhead expense allocations and various miscellaneous expenses partially offset by a benefit related to the non-service related components of the Company's pension. Wealth Management Services – Education, recruiting and travel expense, certain intersegment technology and rent related overhead expense allocations and various miscellaneous expenses partially offset by a benefit related to the non-service related components of the Company's pension. (d) The amount of depreciation disclosed by reportable segment is included within the data processing and communications and occupancy and equipment expense captions. ​ 34 Table of Contents ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Employee ​ ​ ​ ​ Wealth ​ ​ ​ ​ Banking and ​ Benefit ​ Insurance ​ Management ​ ​ (000’s omitted) ​ ​ Corporate ​ ​ Services ​ ​ Services ​ ​ Services ​ ​ Total Three Months Ended March 31, 2025 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net interest income from external customers ​ $ 120,087 ​ $ 125 ​ $ 0 ​ $ 0 ​ $ 120,212 Noninterest revenues from external customers ​ ​ 18,816 ​ ​ 32,884 ​ ​ 14,201 ​ ​ 9,890 ​ ​ 75,791 Revenues from external customers ​ ​ 138,903 ​ ​ 33,009 ​ ​ 14,201 ​ ​ 9,890 ​ ​ 196,003 Intersegment revenues ​ ​ ( 431 ) ​ ​ 1,107 ​ ​ 69 ​ ​ 596 ​ ​ 1,341 ​ ​ ​ 138,472 ​ ​ 34,116 ​ ​ 14,270 ​ ​ 10,486 ​ ​ 197,344 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Reconciliation of revenues (segment operating revenues): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Elimination of intersegment revenues ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ( 1,341 ) Other revenues (a) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 245 Total consolidated revenues ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 196,248 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Less segment expenses: (b) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Provision for credit losses ​ ​ 6,690 ​ ​ 0 ​ ​ 0 ​ ​ 0 ​ ​ ​ Salaries and employee benefits ​ ​ 47,125 ​ ​ 16,055 ​ ​ 8,347 ​ ​ 5,730 ​ ​ ​ Data processing and communications ​ ​ 13,487 ​ ​ 1,083 ​ ​ 873 ​ ​ 679 ​ ​ ​ Occupancy and equipment ​ ​ 11,185 ​ ​ 956 ​ ​ 441 ​ ​ 142 ​ ​ ​ Legal and professional fees ​ ​ 3,470 ​ ​ 1,426 ​ ​ 100 ​ ​ 108 ​ ​ ​ Business development and marketing ​ ​ 2,923 ​ ​ 16 ​ ​ 186 ​ ​ 4 ​ ​ ​ Other segment items (c) ​ ​ 7,319 ​ ​ 1,140 ​ ​ 215 ​ ​ 188 ​ ​ ​ Segment adjusted income before income taxes ​ $ 46,273 ​ $ 13,440 ​ $ 4,108 ​ $ 3,635 ​ $ 67,456 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Reconciliation of profit or loss (segment adjusted income before income taxes): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized gain on equity securities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 245 Amortization of intangible assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ( 3,482 ) Acquisition expenses ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ( 1 ) Litigation accrual ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 50 Total consolidated income before income taxes ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 64,268 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other segment disclosures: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest income ​ $ 167,522 ​ $ 601 ​ $ 44 ​ $ 128 ​ $ 168,295 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Reconciliation of interest income: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Elimination of intersegment interest income ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ( 648 ) Total consolidated interest income ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 167,647 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest expense ​ $ 48,083 ​ $ 0 ​ $ 0 ​ $ 0 ​ $ 48,083 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Reconciliation of interest expense: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Elimination of intersegment interest expense ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ( 648 ) Total consolidated interest expense ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 47,435 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Depreciation (d) ​ $ 3,300 ​ $ 188 ​ $ 106 ​ $ 50 ​ $ 3,644 Amortization of intangible assets ​ ​ 703 ​ ​ 1,717 ​ ​ 924 ​ ​ 138 ​ ​ 3,482 Goodwill ​ ​ 732,598 ​ ​ 90,664 ​ ​ 27,822 ​ ​ 3,438 ​ ​ 854,522 Core deposit intangibles, net ​ ​ 4,499 ​ ​ 0 ​ ​ 0 ​ ​ 0 ​ ​ 4,499 Other intangibles, net ​ ​ 670 ​ ​ 22,643 ​ ​ 16,964 ​ ​ 1,034 ​ ​ 41,311 Segment assets ​ ​ 16,528,595 ​ ​ 235,638 ​ ​ 75,257 ​ ​ 38,261 ​ ​ 16,877,751 ​ ​ ​ ​ ​ ​ ​ Reconciliation of segment assets: ​ ​ ​ ​ ​ ​ Elimination of intersegment cash and deposits ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ( 113,455 ) Total consolidated assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 16,764,296 (a) Other revenues includes $ 245 of unrealized gain on equity securities. (b) The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM. Intersegment expenses are included within the amounts shown. (c) Other segment items for each reportable segment includes: Banking and Corporate – FDIC insurance expense, office supplies and postage expense, fraud losses and other writedowns, education, recruiting and travel expense and various miscellaneous expenses partially offset by a benefit related to the non-service related components of the Company's pension. Employee Benefit Services – Certain intersegment technology and rent related overhead expense allocations, education, recruiting and travel expense, office supplies and postage expense and various miscellaneous expenses partially offset by a benefit related to the non-service related components of the Company's pension. Insurance Services – Education, recruiting and travel expense, certain intersegment technology and rent related overhead expense allocations and various miscellaneous expenses partially offset by a benefit related to the non-service related components of the Company's pension. Wealth Management Services – Education, recruiting and travel expense, certain intersegment technology and rent related overhead expense allocations and various miscellaneous expenses partially offset by a benefit related to the non-service related components of the Company's pension. (d) The amount of depreciation disclosed by reportable segment is included within the data processing and communications and occupancy and equipment expense captions. ​ ​ 35 Table of Contents