HOME BANCSHARES INC 10-Q

homb-20260630 Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-Q (Mark One) ☑ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Quarterly Period Ended June 30, 2026 or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Transition period from ______ to ______ Commission File Number: 001-41093 HOME BANCSHARES, INC. (Exact Name of Registrant as Specified in Its Charter) Arkansas 71-0682831 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) 719 Harkrider, Suite 100 , Conway , Arkansas 72032 (Address of principal executive offices) (Zip Code) ( 501 ) 339-2929 (Registrant's telephone number, including area code) Not Applicable Former name, former address and former fiscal year, if changed since last report Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, par value $0.01 per share HOMB New York Stock Exchange Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☑ No ☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☑ No ☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See definition of "large accelerated filer," "accelerated filer," "smaller reporting company" and "emerging growth company" in Rule 12b-2 of the Exchange Act: Large Accelerated Filer ☑ Accelerated filer ☐ Non-accelerated filer ☐ Smaller reporting company ☐ Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☑ Indicate the number of shares outstanding of each of the registrant’s classes of common stock, as of the latest practicable date. Common Stock Issued and Outstanding: 200,049,630 shares as of August 6, 2026. Table of Contents HOME BANCSHARES, INC. FORM 10-Q June 30, 2026 INDEX Page No. Part I: Financial Information Item 1: Financial Statements Consolidated Balance Sheets – June 30 , 2026 (Unaudited) and December 31, 202 5 4 Consolidated Statements of Income (Unaudited) – Three and six months ended June 30 , 2026 and 202 5 5 Consolidated Statements of Comprehensive Income (Loss) (Unaudited) – Three and six months ended J une 30, 2026 and 2025 6 Consolidated Statements of Stockholders’ Equity (Unaudited) – Three and six months ended J une 30, 2026 and 2025 7 -8 Consolidated Statements of Cash Flows (Unaudited) – Three and six months ended J une 30, 2026 and 2025 9 Condensed Notes to Consolidated Financial Statements (Unaudited) 10 -57 Report of Independent Registered Public Accounting Firm 58 Item 2: Management’s Discussion and Analysis of Financial Condition and Results of Operations 59 -96 Item 3: Quantitative and Qualitative Disclosures About Market Risk 96 -98 Item 4: Controls and Procedures 99 Part II: Other Information Item 1: Legal Proceedings 99 Item 1A: Risk Factors 99 Item 2: Unregistered Sales of Equity Securities and Use of Proceeds 99 Item 3: Defaults Upon Senior Securities 99 Item 4: Mine Safety Disclosures 99 Item 5: Other Information 100 Item 6: Exhibits 100 -101 Signatures 102 Table of Contents CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS Some of our statements contained in this document, including matters discussed under the caption “Management's Discussion and Analysis of Financial Condition and Results of Operations,” are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements relate to expectations, beliefs, projections, future financial performance, future plans and strategies, and anticipated events or trends, and include statements about the competitiveness of the banking industry, potential regulatory obligations, our entrance and expansion into other markets, including through our recent acquisition of Mountain Commerce Bancorp, Inc. or other potential acquisitions, our other business strategies and other statements that are not historical facts. Forward-looking statements are not guarantees of performance or results. When we use words like “may,” “plan,” “contemplate,” “anticipate,” “believe,” “intend,” “continue,” “expect,” “project,” “predict,” “estimate,” “could,” “should,” “would,” and similar expressions, you should consider them as identifying forward-looking statements, although we may use other phrasing. These forward-looking statements involve risks and uncertainties and are based on our beliefs and assumptions, and on the information available to us at the time that these disclosures were prepared. These forward-looking statements involve risks and uncertainties and may not be realized due to a variety of factors, including, but not limited to, the following: • the effects of future local, regional, national and international economic conditions, including recent or future changes in tariffs or trade policies, inflation, or a decrease in commercial real estate and residential housing values; • changes in the level of nonperforming assets and charge-offs, and credit risk generally; • the risks of changes in interest rates or the level and composition of deposits, loan demand and the values of loan collateral, securities and interest-sensitive assets and liabilities; • the effect of any mergers, acquisitions or other transactions to which we or our bank subsidiary may from time to time be a party, including our ability to successfully integrate our recent acquisition of Mountain Commerce Bancorp, Inc. and its bank subsidiary, as well as any other businesses that we may acquire; • the risk that expected cost savings and other benefits from acquisitions may not be fully realized or may take longer to realize than expected; • the possibility that an acquisition does not close when expected or at all because required regulatory, shareholder or other approvals and other conditions to closing are not received or satisfied on a timely basis or at all; • the reaction to a proposed acquisition of the respective companies’ customers, employees and counterparties; • diversion of management time on acquisition-related issues; • the ability to enter into and/or close additional acquisitions; • the availability of and access to capital and liquidity on terms acceptable to us; • legislation and regulation affecting the financial services industry as a whole, and the Company and its subsidiaries in particular, and future legislative and regulatory changes; • changes in governmental monetary and fiscal policies; • the effects of terrorism and efforts to combat it, political instability, war, military conflicts and other major domestic or international events; • the impacts of recent or future adverse weather events, including hurricanes, and other natural disasters; • the ability to keep pace with technological changes, including changes regarding cybersecurity and artificial intelligence; • an increase in the incidence or severity of, or any adverse effects resulting from, acts of fraud, illegal payments, cybersecurity breaches or other illegal acts impacting our bank subsidiary, our vendors or our customers; Table of Contents • the effects of competition from other commercial banks, thrifts, mortgage banking firms, consumer finance companies, credit unions, securities brokerage firms, insurance companies, money market and other mutual funds and other financial institutions operating in our market area and elsewhere, including institutions operating regionally, nationally and internationally, together with competitors offering banking products and services by mail, telephone and the Internet; • potential claims, expenses and other adverse effects related to current or future litigation, regulatory examinations or other government actions; • potential increases in deposit insurance assessments, increased regulatory scrutiny, investment portfolio losses, or market disruptions resulting from financial challenges in the banking industry; • disruptions, uncertainties and related effects on credit quality, liquidity, other aspects of our business and our operations that may result from any future public health crises; • the effect of changes in accounting policies and practices and auditing requirements, as may be adopted by the regulatory agencies, as well as the Public Company Accounting Oversight Board, the Financial Accounting Standards Board, and other accounting standard setters; • higher defaults on our loan portfolio than we expect; and • the failure of assumptions underlying the establishment of our allowance for credit losses or changes in our estimate of the adequacy of the allowance for credit losses. All written or oral forward-looking statements attributable to us are expressly qualified in their entirety by this Cautionary Note. Our actual results may differ significantly from those we discuss in these forward-looking statements. For other factors, risks and uncertainties that could cause our actual results to differ materially from estimates and projections contained in these forward-looking statements, see the "Risk Factors" section of our Form 10-K filed with the Securities and Exchange Commission (the "SEC") on February 27, 2026. Table of Contents PART I: FINANCIAL INFORMATION Item 1: Financial Statements Home BancShares, Inc. Consolidated Balance Sheets (In thousands, except share data) June 30, 2026 December 31, 2025 (Unaudited) Assets Cash and due from banks $ 279,660 $ 237,224 Interest-bearing deposits with other banks 772,859 430,113 Cash and cash equivalents 1,052,519 667,337 Fed funds sold 5,450 3,000 Investment securities — available-for-sale, net of allowance for credit losses of $ 0 at both June 30, 2026 and December 31, 2025 (amortized cost of $ 2,997,415 and $ 3,088,820 at June 30, 2026 and December 31, 2025, respectively) 2,776,216 2,871,931 Investment securities — held-to-maturity, net of allowance for credit losses of $ 2,005 at both June 30, 2026 and December 31, 2025 1,254,802 1,259,262 Total investment securities 4,031,018 4,131,193 Loans receivable 17,127,208 15,686,209 Allowance for credit losses ( 328,369 ) ( 297,583 ) Loans receivable, net 16,798,839 15,388,626 Bank premises and equipment, net 437,552 369,324 Foreclosed assets held for sale 42,139 39,831 Cash value of life insurance 233,515 220,469 Accrued interest receivable 108,384 108,939 Deferred tax asset, net 153,803 148,022 Goodwill 1,410,211 1,398,253 Core deposit intangibles 65,541 32,293 Other assets 374,277 374,592 Total assets $ 24,713,248 $ 22,881,879 Liabilities and Stockholders’ Equity Deposits: Demand and non-interest-bearing $ 4,447,710 $ 3,868,405 Savings and interest-bearing transaction accounts 12,423,361 11,792,828 Time deposits 2,242,034 1,818,724 Total deposits 19,113,105 17,479,957 Securities sold under agreements to repurchase 158,744 155,803 FHLB and other borrowed funds 450,250 500,250 Accrued interest payable and other liabilities 164,112 169,733 Subordinated debentures 279,602 279,265 Total liabilities 20,165,813 18,585,008 Stockholders’ equity: Common stock, par value $ 0.01 ; shares authorized 400,000,000 in 2026 and 2025; shares issued and outstanding 200,460,097 in 2026 and 196,357,167 in 2025 2,005 1,964 Capital surplus 2,301,551 2,201,923 Retained earnings 2,412,859 2,258,871 Accumulated other comprehensive loss ( 168,980 ) ( 165,887 ) Total stockholders’ equity 4,547,435 4,296,871 Total liabilities and stockholders’ equity $ 24,713,248 $ 22,881,879 See Condensed Notes to Consolidated Financial Statements. 4 Table of Contents Home BancShares, Inc. Consolidated Statements of Income Three Months Ended June 30, Six Months Ended June 30, (In thousands, except per share data) 2026 2025 2026 2025 (Unaudited) Interest income: Loans $ 298,066 $ 276,041 $ 571,539 $ 546,825 Investment securities Taxable 25,787 26,444 50,515 53,877 Tax-exempt 7,811 7,626 15,640 15,276 Deposits – other banks 5,135 8,951 10,080 15,571 Federal funds sold 37 53 85 108 Total interest income 336,836 319,115 647,859 631,657 Interest expense: Interest on deposits 87,432 88,489 166,577 175,275 FHLB and other borrowed funds 4,346 5,539 9,038 11,441 Securities sold under agreements to repurchase 1,057 1,012 1,984 2,086 Subordinated debentures 2,358 4,123 4,713 8,247 Total interest expense 95,193 99,163 182,312 197,049 Net interest income 241,643 219,952 465,547 434,608 Provision for credit losses on loans 5,200 3,000 6,700 3,000 Recovery of credit losses on unfunded commitments — — ( 1,000 ) — Total credit loss expense 5,200 3,000 5,700 3,000 Net interest income after credit loss expense 236,443 216,952 459,847 431,608 Non-interest income: Service charges on deposit accounts 10,030 9,552 20,037 19,202 Other service charges and fees 12,973 12,643 22,783 23,332 Trust fees 6,109 5,234 11,591 9,994 Mortgage lending income 5,139 4,780 9,569 8,379 Insurance commissions 578 589 1,114 1,124 Increase in cash value of life insurance 1,553 1,415 2,921 3,257 Dividends from FHLB, FRB, FNBB & other 2,841 2,657 5,377 5,375 Gain on sale of SBA loans — — 80 288 Gain (loss) on sale of branches, equipment and other assets, net 3 972 ( 4 ) 809 Gain (loss) on OREO, net 332 13 1,039 ( 363 ) Fair value adjustment for marketable securities 817 ( 238 ) ( 431 ) 204 Other income 13,079 13,462 22,181 24,904 Total non-interest income 53,454 51,079 96,257 96,505 Non-interest expense: Salaries and employee benefits 68,742 64,318 131,978 126,173 Occupancy and equipment 15,787 14,023 30,654 28,448 Data processing expense 9,307 8,364 18,191 16,922 Merger and acquisition expenses 12,726 — 13,120 — Other operating expenses 28,932 29,335 55,526 57,425 Total non-interest expense 135,494 116,040 249,469 228,968 Income before income taxes 154,403 151,991 306,635 299,145 Income tax expense 35,076 33,588 69,099 65,533 Net income $ 119,327 $ 118,403 $ 237,536 $ 233,612 Basic earnings per share $ 0.59 $ 0.60 $ 1.19 $ 1.18 Diluted earnings per share $ 0.59 $ 0.60 $ 1.19 $ 1.18 See Condensed Notes to Consolidated Financial Statements. 5 Table of Contents Home BancShares, Inc. Consolidated Statements of Comprehensive Income Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2026 2025 2026 2025 (Unaudited) Net income $ 119,327 $ 118,403 $ 237,536 $ 233,612 Net unrealized gain (loss) on available-for-sale securities 13,336 ( 14,600 ) ( 4,317 ) 27,108 Other comprehensive income (loss) before tax effect 13,336 ( 14,600 ) ( 4,317 ) 27,108 Tax effect on other comprehensive (income) loss ( 2,907 ) 3,196 1,224 ( 6,944 ) Other comprehensive income (loss) 10,429 ( 11,404 ) ( 3,093 ) 20,164 Comprehensive income $ 129,756 $ 106,999 $ 234,443 $ 253,776 See Condensed Notes to Consolidated Financial Statements. 6 Table of Contents Home BancShares, Inc. Consolidated Statements of Stockholders’ Equity Six Months Ended June 30, 2026 (In thousands, except share data) Common Stock Capital Surplus Retained Earnings Accumulated Other Comprehensive Loss Total Balances at January 1, 2026 $ 1,964 $ 2,201,923 $ 2,258,871 $ ( 165,887 ) $ 4,296,871 Comprehensive income: Net income — — 118,209 — 118,209 Other comprehensive loss — — — ( 13,522 ) ( 13,522 ) Net issuance of 11,833 shares of common stock from exercise of stock options — — — — — Repurchase of 507,622 shares of common stock ( 5 ) ( 13,888 ) — — ( 13,893 ) Share-based compensation net issuance of 532,800 shares of restricted common stock 5 3,208 — — 3,213 Excise tax from repurchase of common stock — — — — — Cash dividends – Common Stock, $ 0.21 per share — — ( 41,293 ) — ( 41,293 ) Balances at March 31, 2026 (unaudited) $ 1,964 $ 2,191,243 $ 2,335,787 $ ( 179,409 ) $ 4,349,585 Comprehensive income: Net income — — 119,327 — 119,327 Other comprehensive income — — — 10,429 10,429 Net issuance of 5,731 shares of common stock from exercise of stock options — — — — — Issuance of 5,421,521 shares of common stock - Mountain Commerce Acquisition 54 145,949 — — 146,003 Repurchase of 1,500,000 shares of common stock ( 15 ) ( 40,445 ) — — ( 40,460 ) Share-based compensation net issuance of 138,667 shares of restricted common stock 2 5,190 — — 5,192 Excise tax from repurchase of common stock — ( 386 ) — — ( 386 ) Cash dividends – Common Stock, $ 0.21 per share — — ( 42,255 ) — ( 42,255 ) Balances at June 30, 2026 (unaudited) $ 2,005 $ 2,301,551 $ 2,412,859 $ ( 168,980 ) $ 4,547,435 See Condensed Notes to Consolidated Financial Statements. 7 Table of Contents Home BancShares, Inc. Consolidated Statements of Stockholders’ Equity Six Months Ended June 30, 2025 (In thousands, except share data) Common Stock Capital Surplus Retained Earnings Accumulated Other Comprehensive Loss Total Balances at January 1, 2025 $ 1,989 $ 2,272,794 $ 1,942,350 $ ( 256,108 ) $ 3,961,025 Comprehensive income: Net income — — 115,209 — 115,209 Other comprehensive income — — — 31,568 31,568 Net issuance of 71,734 shares of common stock from exercise of stock options 1 526 — — 527 Repurchase of 1,000,000 shares of common stock ( 10 ) ( 29,689 ) — — ( 29,699 ) Share-based compensation net issuance of 252,000 shares of restricted common stock 2 2,798 — — 2,800 Excise tax from repurchase of common stock — ( 117 ) — — ( 117 ) Cash dividends – Common Stock, $ 0.195 per share — — ( 38,758 ) — ( 38,758 ) Balances at March 31, 2025 (unaudited) $ 1,982 $ 2,246,312 $ 2,018,801 $ ( 224,540 ) $ 4,042,555 Comprehensive income: Net income — — 118,403 — 118,403 Other comprehensive loss — — — ( 11,404 ) ( 11,404 ) Net issuance of 34,521 shares of common stock from exercise of stock options — 75 — — 75 Repurchase of 1,000,000 shares of common stock ( 10 ) ( 27,008 ) — — ( 27,018 ) Share-based compensation net forfeiture of 2,000 shares of restricted common stock — 2,656 — — 2,656 Excise tax from repurchase of common stock — ( 459 ) — — ( 459 ) Cash dividends – Common Stock, $ 0.20 per share — — ( 39,492 ) — ( 39,492 ) Balances at June 30, 2025 (unaudited) $ 1,972 $ 2,221,576 $ 2,097,712 $ ( 235,944 ) $ 4,085,316 See Condensed Notes to Consolidated Financial Statements. 8 Table of Contents Home BancShares, Inc. Consolidated Statements of Cash Flows Six Months Ended June 30, (In thousands) 2026 2025 (Unaudited) Operating Activities Net income $ 237,536 $ 233,612 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation & amortization 15,958 14,318 Decrease (increase) in value of equity securities 431 ( 204 ) Increase in value of equity method investments ( 5,032 ) ( 8,958 ) Amortization of securities, net 5,236 6,545 Accretion of purchased loans ( 3,618 ) ( 2,611 ) Share-based compensation 8,405 5,456 Gain (loss) on assets ( 1,115 ) ( 1,977 ) Provision for credit losses - loans 6,700 3,000 Recovery of credit losses - unfunded commitments ( 1,000 ) — Deferred income tax effect 5,049 5,430 Increase in cash value of life insurance ( 2,921 ) ( 3,257 ) Originations of mortgage loans held for sale ( 506,121 ) ( 349,313 ) Proceeds from sales of mortgage loans held for sale 490,393 293,136 Changes in assets and liabilities: Accrued interest receivable 5,897 12,397 Other assets 4,863 ( 34,086 ) Accrued interest payable and other liabilities ( 12,382 ) 21,924 Net cash provided by operating activities 248,279 195,412 Investing Activities Net (increase) decrease in federal funds sold ( 2,450 ) 1,125 Net decrease (increase) in loans, excluding purchased loans 34,667 ( 361,119 ) Purchases of investment securities – available-for-sale ( 33,407 ) ( 19,521 ) Proceeds from maturities of investment securities – available-for-sale 222,652 212,672 Proceeds from maturities of investment securities – held-to-maturity 4,672 9,995 Purchases of equity securities — ( 5,000 ) Proceeds from sales of equity securities 2,000 — Redemption of other investments 1,663 10,152 Purchases for improvements to foreclosed assets — ( 2,747 ) Proceeds from sale of foreclosed assets 9,078 7,014 Proceeds from sale of SBA loans 1,285 4,308 Purchases of premises and equipment ( 14,894 ) ( 14,882 ) Proceeds from sale of premises and equipment 2,663 11,749 Return of investment on cash value of life insurance, net 331 6,161 Net cash received - market acquisition 88,174 — Net cash provided by (used in) investing activities 316,434 ( 140,093 ) Financing Activities Net increase in deposits 90,815 342,135 Net increase (decrease) in securities sold under agreements to repurchase 2,941 ( 21,537 ) Decrease in FHLB and other borrowed funds ( 135,000 ) ( 50,250 ) Proceeds from exercise of stock options, net — 602 Repurchase of common stock ( 54,739 ) ( 57,293 ) Dividends paid on common stock ( 83,548 ) ( 78,250 ) Net cash (used in) provided by financing activities ( 179,531 ) 135,407 Net change in cash and cash equivalents 385,182 190,726 Cash and cash equivalents – beginning of year 667,337 910,347 Cash and cash equivalents – end of period $ 1,052,519 $ 1,101,073 See Condensed Notes to Consolidated Financial Statements. 9 Table of Contents Home BancShares, Inc. Condensed Notes to Consolidated Financial Statements (Unaudited) 1. Nature of Operations and Summary of Significant Accounting Policies Nature of Operations Home BancShares, Inc. (the "Company" or "HBI") is a bank holding company headquartered in Conway, Arkansas. The Company is primarily engaged in providing a full range of banking services to individual and corporate customers through its wholly-owned community bank subsidiary – Centennial Bank (sometimes referred to as "Centennial" or the "Bank"). As of June 30, 2026, the Bank had branch locations in Arkansas, Florida, South Alabama, Tennessee, Texas and New York City. The Company is subject to competition from other financial institutions. The Company also is subject to the regulation of certain federal and state agencies and undergoes periodic examinations by those regulatory authorities. A summary of the significant accounting policies of the Company follows: Operating Segments Operating segments are components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and in assessing performance. The Bank is the only significant subsidiary upon which management makes decisions regarding how to allocate resources and assess performance. Each of the regions and branches of the Bank provide a group of similar banking services, including such products and services as commercial, real estate and consumer loans, time deposits, checking and savings accounts. The individual bank branches and regions have similar operating and economic characteristics. While the chief operating decision maker monitors the revenue streams of the various products, services, branch locations and regions, operations are managed, and financial performance is evaluated on a company-wide basis. Accordingly, all of the banking services and branch locations are considered by management to be aggregated into one reportable operating segment. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change relate to the determination of the allowance for credit losses, the valuation of investment securities, and the valuation of foreclosed assets. In connection with the determination of the allowance for credit losses and the valuation of foreclosed assets, management obtains independent appraisals for significant properties. Principles of Consolidation The consolidated financial statements include the accounts of HBI and its subsidiaries. Significant intercompany accounts and transactions have been eliminated in consolidation. Reclassifications Various items within the accompanying consolidated financial statements for previous periods have been reclassified to provide more comparative information. These reclassifications had no effect on net earnings or stockholders’ equity. Cash and Cash Equivalents Cash and cash equivalents consist of cash on hand, cash held as demand deposits at various banks and the Federal Reserve Bank ("FRB") and interest-bearing deposits with other banks. Included in cash and cash equivalents were $ 8.5 million and $ 9.4 million of restricted cash as of June 30, 2026 and December 31, 2025, respectively. 10 Table of Contents Interim financial information The accompanying unaudited consolidated financial statements have been prepared in condensed format, and therefore do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements. The information furnished in these interim statements reflects all adjustments which are, in the opinion of management, necessary for a fair statement of the results for each respective period presented. Such adjustments are of a normal recurring nature. The results of operations in the interim statements are not necessarily indicative of the results that may be expected for any other quarter or for the full year. The interim financial information should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s 2025 Form 10-K, filed with the Securities and Exchange Commission on February 27, 2026. Loans Receivable and Allowance for Credit Losses Loans receivable that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are reported at their outstanding principal balance adjusted for any charge-offs, deferred fees or costs on originated loans. Interest income on loans is accrued over the term of the loans based on the principal balance outstanding. Loan origination fees and direct origination costs are capitalized and recognized as adjustments to yield on the related loans. The allowance for credit losses on loans receivable is a valuation account that is deducted from the loans’ amortized cost basis to present the net amount expected to be collected on the loans. Loans are charged off against the allowance when management believes the uncollectability of a loan balance is confirmed and expected recoveries do not exceed the aggregate of amounts previously charged-off and expected to be charged-off. The Company uses the discounted cash flow ("DCF") method to estimate expected losses for the Company’s non-acquired loan pools. These pools are as follows: construction & land development; other commercial real estate; residential real estate; commercial & industrial; and consumer & other. The loan portfolio pools were selected in order to generally align with the loan categories specified in the quarterly call reports required to be filed with the Federal Financial Institutions Examination Council. For each of these loan pools, the Company generates cash flow projections at the instrument level wherein payment expectations are adjusted for estimated prepayment speed, curtailments, time to recovery, probability of default, and loss given default. The modeling of expected prepayment speeds, curtailment rates, and time to recovery are based on historical internal data. The Company uses regression analysis of historical internal and peer data to determine suitable loss drivers to utilize when modeling lifetime probability of default and loss given default. This analysis also determines how expected probability of default and loss given default will react to forecasted levels of the loss drivers. For all DCF models, management has determined that four quarters represents a reasonable and supportable forecast period and reverts to a historical loss rate over four quarters on a straight-line basis. Management leverages economic projections from a reputable and independent third party to inform its loss driver forecasts over the four-quarter forecast period. Other internal and external indicators of economic forecasts are also considered by management when developing the forecast metrics. Management estimates the allowance balance using relevant available information, from internal and external sources, relating to past events, current conditions, and reasonable and supportable forecasts. Historical credit loss experience provides the basis for the estimation of expected credit losses. Adjustments to historical loss information are made for differences in current loan-specific risk characteristics such as differences in underwriting standards, portfolio mix, delinquency level, or term as well as for changes in environmental conditions, such as changes in the national unemployment rate, gross domestic product, national retail sales index and the Federal Housing Finance Agency ("FHFA") housing price index. 11 Table of Contents The allowance for credit losses is measured based on call report segment as these types of loans exhibit similar risk characteristics. The identified loan segments are as follows: • 1-4 family residential construction loans • Other construction loans and all land development and other land loans • Loans secured by farmland (including farm residential and other improvements) • Revolving, open-end loans secured by 1-4 family residential properties and extended under lines • Secured by first liens • Secured by junior liens • Secured by multifamily (5 or more) residential properties • Loans secured by owner-occupied, nonfarm nonresidential properties • Loans secured by other nonfarm nonresidential properties • Loans to finance agricultural production and other loans to farmers • Commercial and industrial loans • Other revolving credit plans • Automobile loans • Other consumer loans • Other consumer loans - Shore Premier Finance • Obligations (other than securities and leases) of states and political subdivisions in the US • Loans to nondepository financial institutions • Loans for purchasing or carrying securities • All other loans • Leases Expected credit losses are estimated over the contractual term of the loans, adjusted for expected prepayments and curtailments when appropriate. The contractual term excludes expected extensions, renewals, and modifications unless either of the following applies: • Management has a reasonable expectation at the reporting date that restructured loans made to borrowers experiencing financial difficulty will be executed with an individual borrower. • The extension or renewal options are included in the original or modified contract at the reporting date and are not unconditionally cancellable by the Company. Management qualitatively adjusts model results for risk factors that are not considered within our modeling processes but are nonetheless relevant in assessing the expected credit losses within our loan pools. These qualitative factors ("Q-Factors") and other qualitative adjustments may increase or decrease management's estimate of expected credit losses by a calculated percentage or amount based upon the estimated level of risk. The various risks that may be considered in making Q-Factor and other qualitative adjustments include, among other things, the impact of (i) changes in lending policies, procedures and strategies; (ii) changes in nature and volume of the portfolio; (iii) staff experience; (iv) changes in volume and trends in classified loans, delinquencies and nonaccruals; (v) concentration risk; (vi) trends in underlying collateral values; (vii) external factors such as competition, legal and regulatory environment; (viii) changes in the quality of the loan review system and (ix) economic conditions. Loans considered to be collateral dependent, according to ASC 326, are loans for which repayment is expected to be provided substantially through the operation or sale of the collateral when the borrower is experiencing financial difficulty based on the Company's assessment as of the reporting date. The aggregate amount of collateral shortfall on such loans is utilized in evaluating the adequacy of the allowance for credit losses and amount of provisions thereto. Losses on collateral dependent loans are charged against the allowance for credit losses when in the process of collection, it appears likely that such losses will be realized. The accrual of interest on collateral dependent loans is discontinued when, in management’s opinion the collection of interest is doubtful or generally when loans are 90 days or more past due. When accrual of interest is discontinued, all unpaid accrued interest is reversed. Interest income is subsequently recognized only to the extent cash payments are received in excess of principal due. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured. 12 Table of Contents Loans evaluated individually that are considered to be collateral dependent are not included in the collective evaluation. For these loans, where the Company has determined that foreclosure of the collateral is probable, or where the borrower is experiencing financial difficulty and the Company expects repayment of the loan to be provided substantially through the sale of the collateral, the allowance for credit losses is measured based on the difference between the fair value of the collateral, net of estimated costs to sell, and the amortized cost basis of the loan as of the measurement date. When repayment is expected to be from the operation of the collateral, expected credit losses are calculated as the amount by which the amortized cost basis of the loan exceeds the present value of expected cash flows from the operation of the collateral. The allowance for credit losses may be zero if the fair value of the collateral at the measurement date exceeds the amortized cost basis of the loan, net of estimated costs to sell. For individually analyzed loans which are not considered to be collateral dependent, an allowance is recorded based on the loss rate for the respective pool within the collective evaluation. Loans are placed on non-accrual status when management believes that the borrower’s financial condition, after giving consideration to economic and business conditions and collection efforts, is such that collection of interest is doubtful, or generally when loans are 90 days or more past due. Loans are charged against the allowance for credit losses when management believes that the collectability of the principal is unlikely. Accrued interest related to non-accrual loans is generally charged against the allowance for credit losses when accrued in prior years and reversed from interest income if accrued in the current year. Interest income on non-accrual loans may be recognized to the extent cash payments are received, although the majority of payments received are usually applied to principal. Non-accrual loans are generally returned to accrual status when principal and interest payments are less than 90 days past due, the customer has made the required payments for at least six months, and we reasonably expect to collect all principal and interest. Acquisition Accounting and Acquired Loans The Company accounts for acquisitions in accordance with FASB ASC Topic 805, Business Combinations , using the acquisition method of accounting. Identifiable assets acquired, including loans, are recorded at their estimated fair values as of the acquisition date. The fair value of acquired loans is determined in accordance with FASB ASC Topic 820, Fair Value Measurement , and incorporates estimates of expected prepayments and the amount and timing of expected future principal, interest, and other cash flows. Purchased loans that have experienced more-than-insignificant credit deterioration since origination are classified as purchased credit deteriorated ("PCD") loans. The Company estimates expected credit losses on PCD loans using methodologies consistent with its allowance for credit losses framework, including individual evaluations or collective assessments, as appropriate. PCD loans are accounted for using the gross-up approach prescribed by ASC 326. Under this approach, an allowance for credit losses is established as of the acquisition date and added to the purchase price of the acquired loan to establish its initial amortized cost basis. The difference between the initial amortized cost basis and the unpaid principal balance of the loan represents a noncredit discount or premium, which is accreted or amortized into interest income over the remaining life of the loan using the effective interest method. Subsequent changes in expected credit losses are recognized through the provision for credit losses and reflected in the allowance for credit losses. Effective April 1, 2026, the Company early adopted ASU 2025‑08, Financial Instruments—Credit Losses (Topic 326): Purchased Loans . Under ASU 2025‑08, acquired loans that are not classified as PCD loans and otherwise meet the definition of purchased seasoned loans ("PSLs") are accounted for using the gross-up approach. Accordingly, an allowance for credit losses is recognized as of the acquisition date with a corresponding adjustment to the amortized cost basis of the acquired loans, and no day-one provision for credit losses is recognized. The amendments are applied prospectively to qualifying loans acquired on or after the adoption date, and prior-period amounts have not been adjusted. Following the adoption of ASU 2025‑08, the Company separately identifies and segments qualifying PSLs within its allowance for credit losses framework. PSL segments are aligned with the Company's existing portfolio segmentation structure and generally utilize the same credit risk assumptions, forecasting processes, and qualitative adjustment framework applied to originated loans. In accordance with ASC 326, expected credit losses for PSLs are measured using an expected loss methodology based on the unpaid principal balance of the acquired loans. While the Company's legacy loan portfolio is primarily evaluated using a discounted cash flow methodology based on amortized cost, PSLs are measured based on unpaid principal balance in accordance with ASC 326 and the requirements of ASU 2025‑08. For further discussion of the Company’s acquisitions, see Note 2 to the Condensed Notes to Consolidated Financial Statements. 13 Table of Contents Allowance for Credit Losses on Off-Balance Sheet Credit Exposures The Company estimates expected credit losses over the contractual period in which the Company is exposed to credit risk via a contractual obligation to extend credit unless that obligation is unconditionally cancellable by the Company. The allowance for credit losses on off-balance sheet credit exposures is adjusted as a provision for or recovery of credit loss expense. The estimate includes consideration of the likelihood that funding will occur and an estimate of expected credit losses on commitments expected to be funded over its estimated life. Earnings per Share Basic earnings per share is computed based on the weighted-average number of shares outstanding during each year. Diluted earnings per share is computed using the weighted-average shares and all potential dilutive shares outstanding during the period. The following table sets forth the computation of basic and diluted earnings per share ("EPS") for the following periods: Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 (In thousands) Net income $ 119,327 $ 118,403 $ 237,536 $ 233,612 Average shares outstanding 201,223 197,532 198,889 198,091 Effect of common stock options 197 233 199 198 Average diluted shares outstanding 201,420 197,765 199,088 198,289 Basic earnings per share $ 0.59 $ 0.60 $ 1.19 $ 1.18 Diluted earnings per share $ 0.59 $ 0.60 $ 1.19 $ 1.18 The impact of anti-dilutive shares to the diluted earnings per share calculation was considered immaterial for the periods ended June 30, 2026 and 2025. 2. Acquisitions Acquisition of Mountain Commerce Bancorp, Inc. On April 1, 2026, the Company completed the acquisition of Mountain Commerce Bancorp, Inc (“MCBI”), and merged Mountain Commerce Bank into Centennial Bank. The Company issued approximately 5.4 million shares of its common stock valued at approximately $ 146.0 million as of April 1, 2026. No cash consideration was paid in connection with the merger, except for cash paid in lieu of fractional shares of Home common stock, equal to $ 26.77 multiplied by any resulting fractional shares. The acquisition added new markets for expansion and brings complementary businesses together to drive synergies and growth. Including the effects of the known purchase accounting adjustments, as of the acquisition date, MCBI had approximately $ 1.77 billion in total assets, $ 1.47 billion in loans and $ 1.54 billion in customer deposits. Prior to the merger, MCBI operated its banking business from eight locations in Tennessee. The purchase price allocation and certain fair value measurements remain preliminary due to the timing of the acquisition. The Company will continue to review the estimated fair values of loans, deposits and intangible assets, and to evaluate the assumed tax positions and contingencies. The Company has determined that the acquisition of the net assets of MCBI constitutes a business combination as defined by the ASC Topic 805. Accordingly, the assets acquired and liabilities assumed are presented at their fair values as required. Fair values were determined based on the requirements of ASC Topic 820. In many cases, the determination of these fair values required management to make estimates about discount rates, future expected cash flows, market conditions and other future events that are highly subjective in nature and subject to change. The following schedule is a preliminary breakdown of the assets acquired and liabilities assumed as of the acquisition date: 14 Table of Contents Mountain Commerce Bancorp, Inc. Acquired from MCBI Purchase Accounting Adjustments As Recorded by HBI (Dollars in thousands) Assets Cash and due from banks $ 14,303 $ ( 226 ) $ 14,077 Interest-bearing deposits with other banks 74,097 — 74,097 Cash and cash equivalents 88,400 ( 226 ) 88,174 Investment securities - available-for-sale, net of allowance for credit losses 103,819 ( 523 ) 103,296 Total investment securities 103,819 ( 523 ) 103,296 Loans receivable 1,499,676 ( 30,777 ) 1,468,899 Allowance for credit losses — ( 31,333 ) ( 31,333 ) Loans receivable, net 1,499,676 ( 62,110 ) 1,437,566 Bank premises and equipment, net 59,584 7,211 66,795 Foreclosed assets held for sale 6,013 206 6,219 Cash value of life insurance 10,470 — 10,470 Accrued interest receivable 5,342 — 5,342 Deferred tax asset, net 7,330 2,176 9,506 Core deposit and other intangibles — 38,075 38,075 Other assets 3,282 414 3,696 Total assets acquired $ 1,783,916 $ ( 14,777 ) $ 1,769,139 Liabilities Deposits Demand and non-interest-bearing $ 240,546 $ — $ 240,546 Savings and interest-bearing transaction accounts 700,142 — 700,142 Time deposits 594,727 6,918 601,645 Total deposits 1,535,415 6,918 1,542,333 FHLB and other borrowed funds 85,000 — 85,000 Accrued interest payable and other liabilities 8,900 ( 1,139 ) 7,761 Subordinated debentures — — — Total liabilities assumed $ 1,629,315 $ 5,779 $ 1,635,094 Equity Total equity assumed 154,601 ( 154,601 ) — Total liabilities and equity assumed $ 1,783,916 $ ( 148,822 ) $ 1,635,094 Net assets acquired 134,045 Purchase price 146,003 Goodwill $ 11,958 15 Table of Contents The following is a description of the methods used to determine the fair values of significant assets and liabilities presented above: Cash and due from banks, interest-bearing deposits with other banks and federal funds sold – The carrying amount of these assets was deemed a reasonable estimate of fair value based on the short-term nature of these assets. Investment securities – Investment securities were acquired from MCBI with an approximately $ 523,000 adjustment to fair value based upon quoted market prices. Otherwise, the book value was deemed to approximate fair value. Loans – Fair values for loans were based on a discounted cash flow methodology that considered factors including the type of loan and related collateral, classification status, fixed or variable interest rate, term of loan, whether or not the loan was amortizing and current discount rates. The discount rates used for loans are based on current market rates for new originations of comparable loans and include adjustments for liquidity concerns. The discount rate does not include a factor for credit losses as that has been included in the estimated cash flows. Loans were grouped together according to similar characteristics and were treated in the aggregate when applying various valuation techniques. See Note 5 to the Condensed Notes to Consolidated Financial Statements, for additional information related to purchased financial assets with credit deterioration. Bank premises and equipment – Bank premises and equipment were acquired from MCBI with a $ 7.2 million adjustment to fair value. This represents the difference between current appraisals completed in connection with the acquisition and book value acquired. Foreclosed assets held for sale – These assets are presented at the estimated fair values that management expects to receive when the properties are sold, net of related costs of disposal. Cash value of life insurance – Bank owned life insurance is carried at its current cash surrender value, which is the most reasonable estimate of fair value. Accrued interest receivable – The carrying amount of these assets was deemed a reasonable estimate of the fair value. Deferred tax asset, net – The current and deferred income tax assets and liabilities are recorded to reflect the differences in the carrying values of the acquired assets and assumed liabilities for financial reporting purposes and the cost basis for federal income tax purposes, at the Company’s statutory federal and state income tax rate of 24.359 %. Core deposit intangible and other intangibles – This core deposit intangible asset represents the value of the relationships that MCBI had with its deposit customers. The fair value of this intangible asset was estimated based on a discounted cash flow methodology that gave appropriate consideration to expected customer attrition rates, cost of the deposit base, and the net maintenance cost attributable to customer deposits. Deposits – The fair values used for the demand and savings deposits that comprise the transaction accounts acquired, by definition, equal the amount payable on demand at the acquisition date. The $ 6.9 million fair value adjustment applied for time deposits was because the weighted-average interest rate of MCBI’s certificates of deposits were estimated to be below the current market rates. FHLB borrowed funds – The fair value of FHLB borrowed funds is estimated based on borrowing rates currently available to the Company for borrowings with similar terms and maturities. Accrued interest payable and other liabilities – The fair value adjustment results from certain liabilities whose value was estimated to be more or less than book value, such as certain accounts payable and other miscellaneous liabilities. The carrying amount of accrued interest and the remainder of other liabilities was deemed to be a reasonable estimate of fair value. 16 Table of Contents Purchased loans and leases that reflect a more-than-insignificant deterioration of credit from origination are considered PCD. For PCD loans, the initial estimate of expected credit losses is recognized in the allowance for credit losses on the date of acquisition using the same methodology as other loans and leases held-for-investment. The following table provides a summary of loans purchased as part of the MCBI acquisition with credit deterioration at acquisition: April 1, 2026 (In thousands) Purchased Loans with Credit Deterioration: Par value $ 47,279 Allowance for credit losses at acquisition ( 7,627 ) Discount on acquired loans ( 987 ) Purchase price $ 38,665 3. Investment Securities The following table summarizes the amortized cost and fair value of securities that are classified as available-for-sale and held-to-maturity: June 30, 2026 Available-for-Sale Amortized Cost Allowance for Credit Losses Net Carrying Amount Gross Unrealized Gains Gross Unrealized (Losses) Estimated Fair Value (In thousands) U.S. government-sponsored enterprises $ 210,738 $ — $ 210,738 $ 885 $ ( 7,237 ) $ 204,386 U.S. government-sponsored mortgage-backed securities 1,302,974 — 1,302,974 1,247 ( 144,283 ) 1,159,938 Private mortgage-backed securities 176,380 — 176,380 75 ( 8,694 ) 167,761 Non-government-sponsored asset backed securities 97,958 — 97,958 59 ( 1,136 ) 96,881 State and political subdivisions 961,342 — 961,342 1,448 ( 57,457 ) 905,333 Other securities 248,023 — 248,023 1,998 ( 8,104 ) 241,917 Total $ 2,997,415 $ — $ 2,997,415 $ 5,712 $ ( 226,911 ) $ 2,776,216 June 30, 2026 Held-to-Maturity Amortized Cost Allowance for Credit Losses Net Carrying Amount Gross Unrealized Gains Gross Unrealized (Losses) Estimated Fair Value (In thousands) U.S. government-sponsored enterprises $ 43,984 $ — $ 43,984 $ — $ ( 1,932 ) $ 42,052 U.S. government-sponsored mortgage-backed securities 110,969 — 110,969 37 ( 4,752 ) 106,254 State and political subdivisions 1,101,854 ( 2,005 ) 1,099,849 110 ( 99,438 ) 1,000,521 Total $ 1,256,807 $ ( 2,005 ) $ 1,254,802 $ 147 $ ( 106,122 ) $ 1,148,827 17 Table of Contents December 31, 2025 Available-for-Sale Amortized Cost Allowance for Credit Losses Net Carrying Amount Gross Unrealized Gains Gross Unrealized (Losses) Estimated Fair Value (In thousands) U.S. government-sponsored enterprises $ 246,891 $ — $ 246,891 $ 998 $ ( 7,107 ) $ 240,782 U.S. government-sponsored mortgage-backed securities 1,345,469 — 1,345,469 1,478 ( 133,999 ) 1,212,948 Private mortgage-backed securities 152,578 — 152,578 126 ( 6,984 ) 145,720 Non-government-sponsored asset backed securities 158,446 — 158,446 325 ( 927 ) 157,844 State and political subdivisions 951,822 — 951,822 1,419 ( 65,403 ) 887,838 Other securities 233,614 — 233,614 2,147 ( 8,962 ) 226,799 Total $ 3,088,820 $ — $ 3,088,820 $ 6,493 $ ( 223,382 ) $ 2,871,931 December 31, 2025 Held-to-Maturity Amortized Cost Allowance for Credit Losses Net Carrying Amount Gross Unrealized Gains Gross Unrealized (Losses) Estimated Fair Value (In thousands) U.S. government-sponsored enterprises $ 43,841 $ — $ 43,841 $ — $ ( 1,391 ) $ 42,450 U.S. government-sponsored mortgage-backed securities 114,813 — 114,813 400 ( 3,258 ) 111,955 State and political subdivisions 1,102,613 ( 2,005 ) 1,100,608 71 ( 94,032 ) 1,006,647 Total $ 1,261,267 $ ( 2,005 ) $ 1,259,262 $ 471 $ ( 98,681 ) $ 1,161,052 On April 1, 2026, the Company completed the acquisition of MCBI. Including the effects of the known purchase accounting adjustments, as of the acquisition date, MCBI had approximately $ 103.3 million in investments. The Company classified the entire balance of investments acquired from MCBI as available-for-sale at the acquisition date. Assets, principally investment securities, having a carrying value of approximately $ 2.62 billion and $ 2.65 billion at June 30, 2026 and December 31, 2025, respectively, were pledged to secure public deposits, as collateral for repurchase agreements, and for other purposes required or permitted by law. Investment securities pledged as collateral for repurchase agreements totaled approximately $ 158.7 million and $ 155.8 million at June 30, 2026 and December 31, 2025, respectively. The amortized cost and estimated fair value of securities classified as available-for-sale and held-to-maturity at June 30, 2026, by contractual maturity, are shown below. Expected maturities could differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. Securities not due at a single maturity date are shown separately. 18 Table of Contents Available-for-Sale Held-to-Maturity Amortized Cost Estimated Fair Value Amortized Cost Estimated Fair Value (In thousands) Due in one year or less $ 80,028 $ 79,593 $ 4,967 $ 4,933 Due after one year through five years 235,425 224,652 136,319 130,725 Due after five years through ten years 369,000 353,070 375,405 344,164 Due after ten years 735,650 694,321 629,147 562,751 U.S. government-sponsored mortgage-backed securities 1,302,974 1,159,938 110,969 106,254 Private mortgage-backed securities 176,380 167,761 — — Non-government-sponsored asset backed securities 97,958 96,881 — — Total $ 2,997,415 $ 2,776,216 $ 1,256,807 $ 1,148,827 During the three and six months ended June 30, 2026 and 2025, no available-for-sale securities were sold. The following table shows gross unrealized losses and estimated fair value of investment securities classified as available-for-sale and held-to-maturity, aggregated by investment category and length of time that individual investment securities have been in a continuous loss position as of June 30, 2026 and December 31, 2025. June 30, 2026 Less Than 12 Months 12 Months or More Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (In thousands) Available-for-sale: U.S. government-sponsored enterprises $ 4,591 $ ( 15 ) $ 140,606 $ ( 7,222 ) $ 145,197 $ ( 7,237 ) U.S. government-sponsored mortgage-backed securities 81,372 ( 1,263 ) 1,018,954 ( 143,020 ) 1,100,326 ( 144,283 ) Private mortgage-backed securities 29,096 ( 418 ) 130,408 ( 8,276 ) 159,504 ( 8,694 ) Non-government-sponsored asset backed securities 20,472 ( 130 ) 26,350 ( 1,006 ) 46,822 ( 1,136 ) State and political subdivisions 63,734 ( 1,058 ) 707,971 ( 56,399 ) 771,705 ( 57,457 ) Other securities 68,552 ( 825 ) 116,424 ( 7,279 ) 184,976 ( 8,104 ) Total $ 267,817 $ ( 3,709 ) $ 2,140,713 $ ( 223,202 ) $ 2,408,530 $ ( 226,911 ) Held-to-maturity: U.S. government-sponsored enterprises $ 14,835 $ ( 165 ) $ 27,217 $ ( 1,767 ) $ 42,052 $ ( 1,932 ) U.S. government-sponsored mortgage-backed securities 42,013 ( 765 ) 52,115 ( 3,987 ) 94,128 ( 4,752 ) State and political subdivisions 26,124 ( 689 ) 965,818 ( 98,749 ) 991,942 ( 99,438 ) Total $ 82,972 $ ( 1,619 ) $ 1,045,150 $ ( 104,503 ) $ 1,128,122 $ ( 106,122 ) 19 Table of Contents December 31, 2025 Less Than 12 Months 12 Months or More Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (In thousands) Available-for-sale: U.S. government-sponsored enterprises $ 7,152 $ ( 32 ) $ 165,091 $ ( 7,075 ) $ 172,243 $ ( 7,107 ) U.S. government-sponsored mortgage-backed securities 26,462 ( 136 ) 1,087,888 ( 133,863 ) 1,114,350 ( 133,999 ) Private mortgage-backed securities — — 135,255 ( 6,984 ) 135,255 ( 6,984 ) Non-government-sponsored asset backed securities 22,987 ( 13 ) 44,666 ( 914 ) 67,653 ( 927 ) State and political subdivisions 15,301 ( 505 ) 744,922 ( 64,898 ) 760,223 ( 65,403 ) Other securities 5,505 ( 67 ) 125,216 ( 8,895 ) 130,721 ( 8,962 ) Total $ 77,407 $ ( 753 ) $ 2,303,038 $ ( 222,629 ) $ 2,380,445 $ ( 223,382 ) Held-to-maturity: U.S. government-sponsored enterprises $ — $ — $ 42,451 $ ( 1,391 ) $ 42,451 $ ( 1,391 ) U.S. government-sponsored mortgage-backed securities 16,763 ( 88 ) 64,000 ( 3,170 ) 80,763 ( 3,258 ) State and political subdivisions 19,137 ( 143 ) 983,938 ( 93,889 ) 1,003,075 ( 94,032 ) Total $ 35,900 $ ( 231 ) $ 1,090,389 $ ( 98,450 ) $ 1,126,289 $ ( 98,681 ) Debt securities available-for-sale ("AFS") are reported at fair value with unrealized holding gains and losses reported as a separate component of stockholders’ equity and other comprehensive income (loss), net of taxes. Securities that are held as available-for-sale are used as a part of our asset/liability management strategy. Securities that may be sold in response to interest rate changes, changes in prepayment risk, the need to increase regulatory capital, and other similar factors are classified as available-for-sale. The Company evaluates all securities quarterly to determine if any securities in a loss position require a provision for credit losses. The Company first assesses whether it intends to sell or is more likely than not that the Company will be required to sell the security before recovery of its amortized cost basis. If either of the criteria regarding intent or requirement to sell is met, the security’s amortized cost basis is written down to fair value through income. For securities that do not meet these criteria, the Company evaluates whether the decline in fair value has resulted from credit losses or other factors. In making this assessment, the Company considers the extent to which fair value is less than amortized cost, changes to the rating of the security by a rating agency, and adverse conditions specifically related to the security, among other factors. If this assessment indicates that a credit loss exists, the present value of cash flows expected to be collected from the security are compared to the amortized cost basis of the security. If the present value of cash flows expected to be collected is less than the amortized cost basis, a credit loss exists and an allowance for credit losses is recorded for the credit loss, limited by the amount that the fair value is less than the amortized cost basis. Any impairment that has not been recorded through an allowance for credit losses is recognized in other comprehensive income. The Company has made the election to exclude accrued interest receivable on AFS securities from the estimate of credit losses and report accrued interest separately on the consolidated balance sheets. Changes in the allowance for credit losses are recorded as provision for (or reversal of) credit loss expense. Losses are charged against the allowance when management believes the uncollectability of a security is confirmed or when either of the criteria regarding intent or requirement to sell is met. Debt securities held-to-maturity ("HTM"), which include any security for which we have the positive intent and ability to hold until maturity, are reported at historical cost adjusted for amortization of premiums and accretion of discounts. Premiums and discounts are amortized/accreted to the call date to interest income using the constant effective yield method over the estimated life of the security. The Company evaluates all securities quarterly to determine if any securities in a loss position require a provision for credit losses. The Company measures expected credit losses on HTM securities on a collective basis by major security type, with each type sharing similar risk characteristics. The estimate of expected credit losses considers historical credit loss information that is adjusted for current conditions and reasonable and supportable forecasts. The Company has made the election to exclude accrued interest receivable on HTM securities from the estimate of credit losses and report accrued interest separately on the consolidated balance sheets. Changes in the allowance for credit losses are recorded as provision for (or reversal of) credit loss expense. Losses are charged against the allowance when management believes the uncollectability of a security is confirmed. During the three and six months ended June 30, 2026, the Company determined no allowance for credit losses on the available-for-sale portfolio was necessary. The Company also determined the $ 2.0 million allowance for credit losses on the held-to-maturity portfolio was adequate. Therefore, no provision was considered necessary for either portfolio. 20 Table of Contents During the three and six months ended June 30, 2025, the Company determined the $ 2.2 million allowance for credit losses on the available-for-sale portfolio and the $ 2.0 million allowance for credit losses on the held-to-maturity portfolio were adequate. Therefore, no additional provision was considered necessary. Available-for-Sale Investment Securities June 30, 2026 December 31, 2025 Allowance for credit losses: (In thousands) Beginning balance, January 1 $ — $ 2,195 Recovery of credit losses — — Balance, June 30 $ — $ 2,195 Recovery of credit loss ( 2,195 ) Balance, December 31, 2025 $ — Held-to-Maturity Investment Securities June 30, 2026 December 31, 2025 Allowance for credit losses: (In thousands) Beginning balance, January 1 $ 2,005 $ 2,005 Provision for credit losses — — Balance, June 30 $ 2,005 $ 2,005 Provision for credit loss — Balance, December 31, 2025 $ 2,005 For the six months ended June 30, 2026, the Company had available-for-sale investment securities with approximately $ 226.9 million in unrealized losses, of which $ 223.2 million had been in continuous loss positions for more than twelve months. The Company’s assessments indicated the cause of the market depreciation was primarily due to the change in interest rates and not the issuer’s financial condition or downgrades by rating agencies. In addition, approximately 48.0 % of the principal balance from the Company’s investment portfolio will mature or are expected to pay down within five years or less . As a result, the Company has the ability and intent to hold such securities until maturity. As of June 30, 2026, the Company's available-for-sale securities portfolio consisted of 1,539 investment securities, 1,256 of which were in an unrealized loss position. As noted in the table above, the total amount of the unrealized loss was $ 226.9 million. The U.S. government-sponsored enterprises portfolio contained unrealized losses of $ 7.2 million on 59 securities. The U.S. government-sponsored mortgage-backed securities portfolio contained $ 144.3 million of unrealized losses on 626 securities, and the private mortgage-backed securities portfolio contained $ 8.7 million of unrealized losses on 49 securities. The non-government-sponsored asset backed securities portfolio contained $ 1.1 million of unrealized losses on 16 securities. The state and political subdivisions portfolio contained $ 57.5 million of unrealized losses on 445 securities. In addition, the other securities portfolio contained $ 8.1 million of unrealized losses on 61 securities. The unrealized losses on the Company's investments were a result of interest rate changes, and the Company expects to recover the amortized cost basis over the term of the securities. The Company has determined that, as of June 30, 2026, a reserve for credit losses is not necessary because the decline in market value was attributable to changes in interest rates and not credit quality, and because the Company does not intend to sell the investments and it is not more likely than not that the Company will be required to sell the investments before recovery of their amortized cost basis, which may be maturity. As of June 30, 2026, the Company's held-to-maturity securities portfolio consisted of 512 investment securities, 496 of which were in an unrealized loss position. As noted in the table above, the total amount of the unrealized loss was $ 106.1 million. The U.S. government-sponsored enterprises portfolio contained unrealized losses of $ 1.9 million on 5 securities. The U.S. government-sponsored mortgage-backed securities portfolio contained unrealized losses of $ 4.8 million on 17 securities. The state and political subdivisions portfolio contained $ 99.4 million of unrealized losses on 474 securities. The unrealized losses on the Company's investments were a result of interest rate changes. The Company expects to recover the amortized cost basis over the term of the securities. Because the decline in market value was attributable to changes in interest rates and not credit quality, the Company has determined that an additional provision for credit losses was not necessary as of June 30, 2026. 21 Table of Contents The following table summarizes bond ratings for the Company’s held-to-maturity portfolio, based upon amortized cost, issued by state and political subdivisions and other securities as of June 30, 2026: State and political subdivisions U.S. government-sponsored enterprises U.S. government-sponsored mortgage-backed securities Total (In thousands) Aaa/AAA $ 238,532 $ 43,984 $ — $ 282,516 Aa/AA 816,475 — — 816,475 A 35,002 — — 35,002 Baa/BBB 2,537 — — 2,537 Not rated 9,308 — — 9,308 Agency backed — — 110,969 110,969 Total $ 1,101,854 $ 43,984 $ 110,969 $ 1,256,807 Income earned on securities for the three and six months ended June 30, 2026 and 2025, is as follows: Three Months Ended June 30, For the Six Months Ended June 30, 2026 2025 2026 2025 (In thousands) Taxable Available-for-sale $ 18,454 $ 19,032 $ 35,775 $ 39,092 Held-to-maturity 7,333 7,412 14,740 14,785 Non-taxable Available-for-sale 4,807 4,579 9,628 9,159 Held-to-maturity 3,004 3,047 6,012 6,117 Total $ 33,598 $ 34,070 $ 66,155 $ 69,153 4. Loans Receivable The various categories of loans receivable are summarized as follows: June 30, 2026 December 31, 2025 (In thousands) Real estate: Commercial real estate loans Non-farm/non-residential $ 5,921,829 $ 5,290,112 Construction/land development 2,780,116 2,726,993 Agricultural 329,231 332,412 Residential real estate loans Residential 1-4 family 2,545,462 2,134,334 Multifamily residential 1,269,728 1,140,911 Total real estate 12,846,366 11,624,762 Consumer 1,278,008 1,253,746 Commercial and industrial 2,285,054 2,222,401 Agricultural 356,611 359,879 Other 361,169 225,421 Total loans receivable 17,127,208 15,686,209 Allowance for credit losses ( 328,369 ) ( 297,583 ) Loans receivable, net $ 16,798,839 $ 15,388,626 22 Table of Contents On April 1, 2026, the Company completed the acquisition of MCBI. Including the effects of the known purchase accounting adjustments, as of the acquisition date, MCBI had approximately $ 1.47 billion in loans. This balance consisted of approximately $ 46.3 million in PCD loans and $ 1.42 billion in PSL loans. During the three months ended June 30, 2026, the Company did not sell guaranteed portions of SBA loans. During the six months ended June 30, 2026, the Company sold $ 1.2 million of the guaranteed portions of SBA loans, which resulted in a gain of approximately $ 80,000 . During the three months ended June 30, 2025, the Company did not sell any guaranteed portions of SBA loans. During the six months ended June 30, 2025, the Company sold $ 4.0 million guaranteed portions of certain SBA loans, which resulted in a gain of approximately $ 288,000 . Mortgage loans held for sale of approximately $ 219.8 million and $ 204.0 million at June 30, 2026 and December 31, 2025, respectively, are included in residential 1-4 family loans. Mortgage loans held for sale are carried at the lower of cost or fair value, determined using an aggregate basis. Gains and losses resulting from sales of mortgage loans are recognized when the respective loans are sold to investors. Gains and losses are determined by the difference between the selling price and the carrying amount of the loans sold, net of discounts collected or paid. The Company obtains forward commitments to sell mortgage loans to reduce market risk on mortgage loans in the process of origination and mortgage loans held for sale. The forward commitments acquired by the Company for mortgage loans in process of origination are considered mandatory forward commitments. Because these commitments are structured on a mandatory basis, the Company is required to substitute another loan or to buy back the commitment if the original loan does not fund. The Company regularly sells mortgages into the capital markets to mitigate the effects of interest rate volatility during the period from the time an interest rate lock commitment ("IRLC") is issued until the IRLC funds creating a mortgage loan held for sale and its subsequent sale into the secondary/capital markets. Loan sales are typically executed on a mandatory basis. Under a mandatory commitment, the Company agrees to deliver a specified dollar amount with predetermined terms by a certain date. Generally, the commitment is not loan specific, and any combination of loans can be delivered into the outstanding commitment provided the terms fall within the parameters of the commitment. Upon failure to deliver, the Company is subject to fees based on market movement. These commitments and IRLCs are derivative instruments and their fair values at June 30, 2026 and December 31, 2025 were not material. The Company held approximately $ 95.8 million and $ 52.2 million in PCD loans, as of June 30, 2026 and December 31, 2025, respectively. As of June 30, 2026, $ 50.1 million and $ 45.7 million resulted from the acquisitions of Happy Bancshares, Inc. in 2022 and Mountain Commerce Bancorp, Inc. in 2026, respectively. A description of our accounting policies for loans and impaired loans (which includes loans individually analyzed for credit losses for which a specific reserve has been recorded, non-accrual loans, loans past due 90 days or more and restructured loans made to borrowers experiencing financial difficulty) are set forth in our 2025 Form 10-K filed with the SEC on February 27, 2026. 5. Allowance for Credit Losses, Credit Quality and Other The Company uses the discounted cash flow ("DCF") method to estimate expected losses for the Company’s non-acquired loan pools. These pools are as follows: construction & land development; other commercial real estate; residential real estate; commercial & industrial; and consumer & other. The loan portfolio pools were selected in order to generally align with the loan categories specified in the quarterly call reports required to be filed with the Federal Financial Institutions Examination Council. For each of these loan pools, the Company generates cash flow projections at the instrument level wherein payment expectations are adjusted for estimated prepayment speed, curtailments, time to recovery, probability of default, and loss given default. The modeling of expected prepayment speeds, curtailment rates, and time to recovery are based on historical internal data. The Company uses regression analysis of historical internal and peer data to determine suitable loss drivers to utilize when modeling lifetime probability of default and loss given default. This analysis also determines how expected probability of default and loss given default will react to forecasted levels of the loss drivers. For all DCF models, management has determined that four quarters represents a reasonable and supportable forecast period and reverts to a historical loss rate over four quarters on a straight-line basis. Management leverages economic projections from a reputable and independent third party to inform its loss driver forecasts over the four-quarter forecast period. Other internal and external indicators of economic forecasts are also considered by management when developing the forecast metrics. The combination of adjustments for credit expectations (default and loss) and time expectations (prepayment, curtailment, and time to recovery) produces an expected cash flow stream at the instrument level. Instrument effective yield is calculated, net of the impacts of prepayment assumptions, and the instrument expected cash flows are then discounted at that effective yield to produce an instrument-level net present value of expected cash flows ("NPV"). An allowance for credit loss is established for the difference between the instrument’s NPV and amortized cost basis. 23 Table of Contents Purchased loans that have experienced more-than-insignificant credit deterioration since origination are classified as PCD loans. The Company estimates expected credit losses on PCD loans using methodologies consistent with its allowance for credit losses framework, including individual evaluations or collective assessments, as appropriate. PCD loans are accounted for using the gross-up approach prescribed by ASC 326. Under this approach, an allowance for credit losses is established as of the acquisition date and added to the purchase price of the acquired loan to establish its initial amortized cost basis. The difference between the initial amortized cost basis and the unpaid principal balance of the loan represents a noncredit discount or premium, which is accreted or amortized into interest income over the remaining life of the loan using the effective interest method. Subsequent changes in expected credit losses are recognized through the provision for credit losses and reflected in the allowance for credit losses. Effective April 1, 2026, the Company early adopted ASU 2025‑08, Financial Instruments—Credit Losses (Topic 326): Purchased Loans . Under ASU 2025‑08, acquired loans that are not classified as PCD loans and otherwise meet the definition of PSLs are accounted for using the gross-up approach. Accordingly, an allowance for credit losses is recognized as of the acquisition date with a corresponding adjustment to the amortized cost basis of the acquired loans, and no day-one provision for credit losses is recognized. The amendments are applied prospectively to qualifying loans acquired on or after the adoption date, and prior-period amounts have not been adjusted. Following the adoption of ASU 2025‑08, the Company separately identifies and segments qualifying PSLs within its allowance for credit losses framework. PSL segments are aligned with the Company's existing portfolio segmentation structure and generally utilize the same credit risk assumptions, forecasting processes, and qualitative adjustment framework applied to originated loans. In accordance with ASC 326, expected credit losses for PSLs are measured using an expected loss methodology based on the unpaid principal balance of the acquired loans. While the Company's legacy loan portfolio is primarily evaluated using a discounted cash flow methodology based on amortized cost, PSLs are measured based on unpaid principal balance in accordance with ASC 326 and the requirements of ASU 2025‑08. Management qualitatively adjusts model results for risk factors ("Q-Factors") that are not considered within our modeling processes but are, nonetheless, relevant in assessing the expected credit losses within our loan pools. These Q-Factors and other qualitative adjustments may increase or decrease management's estimate of expected credit losses by a calculated percentage or amount based upon the estimated level of risk. The various risks that may be considered in making Q-Factor and other qualitative adjustments include, among other things, the impact of (i) changes in lending policies, procedures and strategies; (ii) changes in nature and volume of the portfolio; (iii) staff experience; (iv) changes in volume and trends in classified loans, delinquencies and nonaccruals; (v) concentration risk; (vi) trends in underlying collateral values; (vii) external factors such as competition, legal and regulatory environment; (viii) changes in the quality of the loan review system; and (ix) economic conditions. Each year management evaluates the performance of the selected models used in the CECL calculation through backtesting. Based on the results of the testing, management determines if the various models produced accurate results compared to the actual losses incurred for the current economic environment. Management then determines if changes to the assumptions and economic factors would produce a stronger overall calculation that is more responsive to changes in economic conditions. The Company continues to use regression analysis to determine suitable loss drivers to utilize when modeling lifetime probability of default and loss given default for the changes in the economic factors for the loss driver segments. Based on this analysis, management determined that changes to some of the economic factors for the loss driver segments, along with other model improvements and updates, were necessary, and updated models were implemented beginning with the March 31, 2026 allowance for credit losses calculation. The identified loss drivers by segment are included below as of both June 30, 2026 and December 31, 2025: June 30, 2026 Loss Driver Segment Call Report Segment(s) Modeled Economic Factors 1-4 Family Construction 1a1 National Unemployment (%) & Housing Price Index (%) All Other Construction 1a2 National Unemployment (%) & Gross Domestic Product (%) Farmland 1b National Unemployment (%) & Gross Domestic Product (%) Residential 1-4 Family 1c1, 1c2a, 1c2b National Unemployment (%) & Housing Price Index (%) Multifamily 1d Gross Domestic Product (%) & Housing Price Index (%) Non-Farm/ Non-Residential CRE 1e1, 1e2 National Unemployment (%) & Gross Domestic Product (%) Agriculture 3 National Unemployment (%) Commercial & Industrial, Non-Depository Financial Institutions, Purchase/Carry Securities, Leases, Other 4a, 9a, 9b1, 9b2, 10, Other National Unemployment (%) & National Retail Sales (%) Consumer Auto 6c National Unemployment (%) & National Retail Sales (%) Other Consumer 6b, 6d National Unemployment (%) & National Retail Sales (%) Other Consumer - SPF 6d National Unemployment (%) Obligations of States and Political Subdivisions 8 National Unemployment (%) & Gross Domestic Product (%) 24 Table of Contents December 31, 2025 Loss Driver Segment Call Report Segment(s) Modeled Economic Factors 1-4 Family Construction 1a1 National Unemployment (%) & Housing Price Index (%) All Other Construction 1a2 National Unemployment (%) & Gross Domestic Product (%) Farmland & Agriculture 1b, 3 National Unemployment (%) Residential 1-4 Family 1c1, 1c2a, 1c2b National Unemployment (%) & Housing Price Index (%) Multifamily 1d Rental Vacancy Rate (%) & Housing Price Index (%) Non-Farm/ Non-Residential CRE 1e1, 1e2 National Unemployment (%) & Gross Domestic Product (%) Commercial & Industrial, Non-Depository Financial Institutions, Purchase/Carry Securities, Leases, Other 4a, 9a, 9b1, 9b2, 10, Other National Unemployment (%) & National Retail Sales (%) Consumer Auto 6c National Unemployment (%) & National Retail Sales (%) Other Consumer 6b, 6d National Unemployment (%) & National Retail Sales (%) Other Consumer - SPF 6d National Unemployment (%) Obligations of States and Political Subdivisions 8 National Unemployment (%) & Gross Domestic Product (%) Construction/Land Development and Other Commercial Real Estate Loans. We originate non-farm and non-residential loans (primarily secured by commercial real estate), construction/land development loans, and agricultural loans, which are generally secured by real estate located in our market areas. Our commercial mortgage loans are generally collateralized by first liens on real estate and amortized (where defined) over a 15 to 30 year period with balloon payments due at the end of one to five years . These loans are generally underwritten by assessing cash flow (debt service coverage), primary and secondary source of repayment, the financial strength of the borrower as well as any guarantors, the strength of the tenant (if any), the borrower’s liquidity and leverage, management experience, ownership structure, economic conditions and industry specific trends and collateral. Generally, we will loan up to 85 % of the value of improved property, 65 % of the value of raw land and 75 % of the value of land to be acquired and developed. A first lien on the property and assignment of lease is required if the collateral is rental property, with second lien positions considered on a case-by-case basis. Residential Real Estate Loans. We originate one to four family, residential mortgage loans generally secured by property located in our primary market areas. Residential real estate loans generally have a loan-to-value ratio of up to 90 %. These loans are underwritten by giving consideration to many factors including the borrower’s ability to pay, stability of employment or source of income, debt-to-income ratio, credit history and loan-to-value ratio. Commercial and Industrial Loans. Commercial and industrial loans are made for a variety of business purposes, including working capital, inventory, equipment and capital expansion. The terms for commercial loans are generally one to seven years . Commercial loan applications must be supported by current financial information on the borrower and, where appropriate, by adequate collateral. Commercial loans are generally underwritten by addressing cash flow (debt service coverage), primary and secondary sources of repayment, the financial strength of the borrower as well as any guarantors, the borrower’s liquidity and leverage, management experience, ownership structure, economic conditions and industry specific trends and collateral. The loan to value ratio depends on the type of collateral. Generally, accounts receivable are financed at between 50 % and 80 % of accounts receivable less than 60 days past due. Inventory financing will range between 50 % and 80 % (with no work in process) depending on the borrower and nature of inventory. We require a first lien position for those loans. Consumer & Other Loans. Our consumer & other loans are primarily composed of loans to finance United States Coast Guard registered high-end sail and power boats. The performance of consumer & other loans will be affected by the local and regional economies as well as the rates of personal bankruptcies, job loss, divorce and other individual changes in circumstance. Off-Balance Sheet Credit Exposures. The Company estimates expected credit losses over the contractual period in which the Company is exposed to credit risk via a contractual obligation to extend credit, unless that obligation is unconditionally cancellable by the Company. The allowance for credit loss on off-balance sheet credit exposures is adjusted as a provision for credit loss expense. The Company estimates expected credit losses for its off-balance-sheet credit exposures using methodologies consistent with those applied to the related loan portfolio segments within its allowance for credit losses framework. Off-balance-sheet credit exposures generally exhibit risk characteristics similar to the Company's on-balance-sheet loan portfolios and are evaluated using comparable credit risk assumptions, forecasting processes, and qualitative adjustment factors. The estimate of expected credit losses incorporates both the probability that funding will occur and the expected losses associated with amounts expected to be funded. During the three months ended June 30, 2026, the Company recorded $ 5.2 million in provision for credit losses on loans, and the Company recorded no credit losses on unfunded commitments as the current level of the reserve was considered adequate. During the six months ended June 30, 2026, the Company recorded $ 6.7 million in provision for credit losses on loans, and the Company recovered $ 1.0 million in credit losses on unfunded commitments. 25 Table of Contents During the three and six months ended June 30, 2025, the Company recorded $ 3.0 million in provision for credit losses on loans. In addition, management determined that a provision was not necessary for the unfunded commitments as the current level of the reserve was considered adequate. The Company completed the acquisition of MCBI on April 1, 2026. In connection with the acquisition, the Company acquired approximately $ 1.50 billion in loans and recorded $ 30.8 million in net loan discounts. Pursuant to ASC 326 and ASU 2025‑08, the Company established an acquisition-date allowance for credit losses of $ 31.3 million using the gross-up approach, consisting of $ 7.6 million related to PCD loans and $ 23.7 million related to PSLs. The acquisition-date allowance was recorded as an adjustment to the amortized cost basis of the acquired loans and did not result in provision for credit losses expense upon acquisition. The following table presents the activity in the allowance for credit losses for the three and six months ended June 30, 2026: Three Months Ended June 30, 2026 Construction/ Land Development Other Commercial Real Estate Residential Real Estate Commercial & Industrial Consumer & Other Total (In thousands) Allowance for credit losses: Beginning balance $ 49,377 $ 90,550 $ 71,983 $ 57,171 $ 28,553 $ 297,634 Allowance for credit losses on acquired loans - MCBI 1,299 11,589 14,008 4,198 239 31,333 Loans charged off — ( 2,214 ) ( 224 ) ( 1,419 ) ( 2,663 ) ( 6,520 ) Recoveries of loans previously charged off 25 47 190 158 302 722 Net loans recovered (charged off) 25 ( 2,167 ) ( 34 ) ( 1,261 ) ( 2,361 ) ( 5,798 ) Provision for credit losses 805 472 193 ( 490 ) 4,220 5,200 Balance, June 30 $ 51,506 $ 100,444 $ 86,150 $ 59,618 $ 30,651 $ 328,369 Six Months Ended June 30, 2026 Construction/ Land Development Other Commercial Real Estate Residential Real Estate Commercial & Industrial Consumer & Other Total (In thousands) Allowance for credit losses: Beginning balance $ 48,023 $ 77,220 $ 72,692 $ 65,932 $ 33,716 $ 297,583 Allowance for credit losses on acquired loans - MCBI 1,299 11,589 14,008 4,198 239 31,333 Loans charged off — ( 2,672 ) ( 617 ) ( 2,745 ) ( 3,335 ) ( 9,369 ) Recoveries of loans previously charged off 45 664 208 349 856 2,122 Net loans recovered (charged off) 45 ( 2,008 ) ( 409 ) ( 2,396 ) ( 2,479 ) ( 7,247 ) Provision for credit losses 2,139 13,643 ( 141 ) ( 8,116 ) ( 825 ) 6,700 Balance, June 30 $ 51,506 $ 100,444 $ 86,150 $ 59,618 $ 30,651 $ 328,369 During the first quarter of 2026, the Company implemented updated allowance for credit loss models as part of the annual model review and challenge process. The allowance calculation called for a higher level of reserves for the CRE portfolio, which was largely offset by a corresponding reduction in reserves for the commercial and industrial portfolio as well as the consumer portfolio. 26 Table of Contents The following table presents the activity in the allowance for credit losses for the three and six months ended June 30, 2025 and the year ended December 31, 2025: Three Months Ended June 30, 2025 Construction/ Land Development Other Commercial Real Estate Residential Real Estate Commercial & Industrial Consumer & Other Total (In thousands) Allowance for credit losses: Beginning balance $ 48,176 $ 86,285 $ 53,408 $ 60,122 $ 31,953 $ 279,944 Loans charged off ( 70 ) ( 19 ) ( 54 ) ( 2,369 ) ( 1,559 ) ( 4,071 ) Recoveries of loans previously charged off 416 1,629 12 615 324 2,996 Net loans recovered (charged off) 346 1,610 ( 42 ) ( 1,754 ) ( 1,235 ) ( 1,075 ) Provision for credit losses ( 1,781 ) ( 3,616 ) 4,606 2,213 1,578 3,000 Balance, June 30 $ 46,741 $ 84,279 $ 57,972 $ 60,581 $ 32,296 $ 281,869 Six Months Ended June 30, 2025 and Year Ended December 31, 2025 Construction/ Land Development Other Commercial Real Estate Residential Real Estate Commercial & Industrial Consumer & Other Total (In thousands) Allowance for credit losses: Beginning balance $ 52,271 $ 91,315 $ 50,835 $ 49,621 $ 31,838 $ 275,880 Loans charged off ( 70 ) ( 2,319 ) ( 129 ) ( 2,530 ) ( 2,481 ) ( 7,529 ) Recoveries of loans previously charged off 541 7,789 63 1,573 552 10,518 Net loans (charged off) recovered 471 5,470 ( 66 ) ( 957 ) ( 1,929 ) 2,989 Provision for credit loss - loans ( 6,001 ) ( 12,506 ) 7,203 11,917 2,387 3,000 Balance, June 30 46,741 84,279 57,972 60,581 32,296 281,869 Loans charged off — ( 715 ) ( 502 ) ( 3,847 ) ( 2,650 ) ( 7,714 ) Recoveries of loans previously charged off 35 911 160 805 417 2,328 Net loans (charged off) recovered 35 196 ( 342 ) ( 3,042 ) ( 2,233 ) ( 5,386 ) Provision for credit loss - loans 1,247 ( 7,255 ) 15,062 8,393 3,653 21,100 Balance, December 31 $ 48,023 $ 77,220 $ 72,692 $ 65,932 $ 33,716 $ 297,583 27 Table of Contents The following table presents the amortized cost basis of loans on nonaccrual status and loans past due over 90 days still accruing as of June 30, 2026 and December 31, 2025: June 30, 2026 Nonaccrual Nonaccrual with Reserve Loans Past Due Over 90 Days Still Accruing (In thousands) Real estate: Commercial real estate loans Non-farm/non-residential $ 56,071 $ 8,899 $ 491 Construction/land development 8,179 — — Agricultural 1,670 — — Residential real estate loans Residential 1-4 family 26,255 — 1,276 Multifamily residential 12,391 10,368 — Total real estate 104,566 19,267 1,767 Consumer 12,138 4,981 16 Commercial and industrial 65,227 — 331 Agricultural & other 1,268 — 12 Total $ 183,199 $ 24,248 $ 2,126 December 31, 2025 Nonaccrual Nonaccrual with Reserve Loans Past Due Over 90 Days Still Accruing (In thousands) Real estate: Commercial real estate loans Non-farm/non-residential $ 21,685 $ 14,752 $ — Construction/land development 5,444 — 405 Agricultural 489 — — Residential real estate loans Residential 1-4 family 24,149 — 2,321 Multifamily residential 10,925 10,113 — Total real estate 62,692 24,865 2,726 Consumer 10,326 4,981 3,290 Commercial and industrial 3,760 — 964 Agricultural & other 1,224 — — Total $ 78,002 $ 29,846 $ 6,980 The Company had $ 183.2 million and $ 78.0 million in nonaccrual loans as of June 30, 2026 and December 31, 2025, respectively. In addition, the Company had $ 2.1 million and $ 7.0 million in loans past due 90 days or more and still accruing as of June 30, 2026 and December 31, 2025, respectively. The Company had $ 24.2 million and $ 29.8 million in nonaccrual loans with a specific reserve as of June 30, 2026 and December 31, 2025, respectively. Interest income recognized on the non-accrual loans for the periods ended June 30, 2026 and June 30, 2025 was considered immaterial . 28 Table of Contents The following table presents the amortized cost basis of impaired loans (which includes loans individually analyzed for credit losses for which a specific reserve has been recorded, non-accrual loans, loans past due 90 days or more and restructured loans made to borrowers experiencing financial difficulty) by class of loans as of June 30, 2026 and December 31, 2025: June 30, 2026 Commercial Real Estate Residential Real Estate Other (In thousands) Real estate: Commercial real estate loans Non-farm/non-residential $ 91,536 $ — $ — Construction/land development 8,179 — — Agricultural 1,670 — — Residential real estate loans Residential 1-4 family — 30,681 — Multifamily residential — 12,391 — Total real estate 101,385 43,072 — Consumer — — 12,153 Commercial and industrial — — 65,612 Agricultural & other — — 1,280 Total $ 101,385 $ 43,072 $ 79,045 December 31, 2025 Commercial Real Estate Residential Real Estate Other (In thousands) Real estate: Commercial real estate loans Non-farm/non-residential $ 93,550 $ — $ — Construction/land development 5,849 — — Agricultural 489 — — Residential real estate loans Residential 1-4 family — 29,402 — Multifamily residential — 10,925 — Total real estate 99,888 40,327 — Consumer — — 13,616 Commercial and industrial — — 64,367 Agricultural & other — — 1,224 Total $ 99,888 $ 40,327 $ 79,207 The Company had $ 223.5 million and $ 219.4 million in impaired loans for the periods ended June 30, 2026 and December 31, 2025, respectively. Interest recognized on impaired loans during the three and six months ended June 30, 2026 was approximately $ 553,000 and $ 1.1 million. Interest recognized on impaired loans during the three and six months ended June 30, 2025 was approximately $ 3.0 million and $ 6.0 million. The amount of interest recognized on impaired loans on the cash basis is not materially different than the accrual basis. 29 Table of Contents The following is an aging analysis for loans receivable as of June 30, 2026 and December 31, 2025: June 30, 2026 Loans Past Due 30-59 Days Loans Past Due 60-89 Days Loans Past Due 90 Days or More Total Past Due Current Loans Total Loans Receivable Accruing Loans Past Due 90 Days or More (In thousands) Real estate: Commercial real estate loans Non-farm/non-residential $ 11,221 $ 620 $ 56,562 $ 68,403 $ 5,853,426 $ 5,921,829 $ 491 Construction/land development 1,403 116 8,179 9,698 2,770,418 2,780,116 — Agricultural 134 — 1,670 1,804 327,427 329,231 — Residential real estate loans Residential 1-4 family 2,779 4,576 27,531 34,886 2,510,576 2,545,462 1,276 Multifamily residential 152 — 12,391 12,543 1,257,185 1,269,728 — Total real estate 15,689 5,312 106,333 127,334 12,719,032 12,846,366 1,767 Consumer 3,383 88 12,154 15,625 1,262,383 1,278,008 16 Commercial and industrial 1,685 439 65,558 67,682 2,217,372 2,285,054 331 Agricultural & other 1,200 311 1,280 2,791 714,989 717,780 12 Total $ 21,957 $ 6,150 $ 185,325 $ 213,432 $ 16,913,776 $ 17,127,208 $ 2,126 December 31, 2025 Loans Past Due 30-59 Days Loans Past Due 60-89 Days Loans Past Due 90 Days or More Total Past Due Current Loans Total Loans Receivable Accruing Loans Past Due 90 Days or More (In thousands) Real estate: Commercial real estate loans Non-farm/non-residential $ 37,448 $ 4,723 $ 21,685 $ 63,856 $ 5,226,256 $ 5,290,112 $ — Construction/land development 207 7,208 5,849 13,264 2,713,729 2,726,993 405 Agricultural 99 — 489 588 331,824 332,412 — Residential real estate loans Residential 1-4 family 3,709 4,650 26,470 34,829 2,099,505 2,134,334 2,321 Multifamily residential — — 10,925 10,925 1,129,986 1,140,911 — Total real estate 41,463 16,581 65,418 123,462 11,501,300 11,624,762 2,726 Consumer 1,251 210 13,616 15,077 1,238,669 1,253,746 3,290 Commercial and industrial 41,433 1,048 4,724 47,205 2,175,196 2,222,401 964 Agricultural and other 1,267 14 1,224 2,505 582,795 585,300 — Total $ 85,414 $ 17,853 $ 84,982 $ 188,249 $ 15,497,960 $ 15,686,209 $ 6,980 30 Table of Contents Credit Quality Indicators. As part of the on-going monitoring of the credit quality of the Company’s loan portfolio, management tracks certain credit quality indicators including trends related to (i) the risk rating of loans, (ii) the level of classified loans, (iii) net charge-offs, (iv) non-performing loans and (v) the general economic conditions in Arkansas, Florida, Texas, Alabama and New York. The Company utilizes a risk rating matrix to assign a risk rating to each of its loans. Loans are rated on a scale from 1 to 8. Descriptions of the general characteristics of the 8 risk ratings are as follows: • Risk rating 1 – Excellent. Loans in this category are to persons or entities of unquestionable financial strength, a highly liquid financial position, with collateral that is liquid and well margined. These borrowers have performed without question on past obligations, and the Bank expects their performance to continue. Internally generated cash flow covers current maturities of long-term debt by a substantial margin. Loans secured by bank certificates of deposit and savings accounts, with appropriate holds placed on the accounts, are to be rated in this category. • Risk rating 2 – Good. These are loans to persons or entities with strong financial condition and above-average liquidity that have previously satisfactorily handled their obligations with the Bank. Collateral securing the Bank’s debt is margined in accordance with policy guidelines. Internally generated cash flow covers current maturities of long-term debt more than adequately. Unsecured loans to individuals supported by strong financial statements and on which repayment is satisfactory may be included in this classification. • Risk rating 3 – Satisfactory. Loans to persons or entities with an average financial condition, adequate collateral margins, adequate cash flow to service long-term debt, and net worth comprised mainly of fixed assets are included in this category. These entities are minimally profitable now, with projections indicating continued profitability into the foreseeable future. Closely held corporations or businesses where a majority of the profits are withdrawn by the owners or paid in dividends are included in this rating category. Overall, these loans are basically sound. • Risk rating 4 – Watch. Borrowers who have marginal cash flow, marginal profitability or have experienced an unprofitable year and a declining financial condition characterize these loans. The borrower has in the past satisfactorily handled debts with the Bank, but in recent months has either been late, delinquent in making payments, or made sporadic payments. While the Bank continues to be adequately secured, margins have decreased or are decreasing, despite the borrower’s continued satisfactory condition. Other characteristics of borrowers in this class include inadequate credit information, weakness of financial statement and repayment capacity, but with collateral that appears to limit exposure. • Risk rating 5 – Other Loans Especially Mentioned ("OLEM") . A loan criticized as OLEM has potential weaknesses that deserve management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the asset or in the institution’s credit position at some future date. OLEM assets are not adversely classified and do not expose the institution to sufficient risk to warrant adverse classification. • Risk rating 6 – Substandard. A loan classified as substandard is inadequately protected by the sound worth and paying capacity of the borrower or the collateral pledged. Loss potential, while existing in the aggregate amount of substandard loans, does not have to exist in individual assets. • Risk rating 7 – Doubtful. A loan classified as doubtful has all the weaknesses inherent in a loan classified as substandard with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. These are poor quality loans in which neither the collateral, if any, nor the financial condition of the borrower presently ensure collectability in full in a reasonable period of time; in fact, there is permanent impairment in the collateral securing the loan. • Risk rating 8 – Loss. Assets classified as loss are considered uncollectible and of such little value that the continuance as bankable assets is not warranted. This classification does not mean that the asset has absolutely no recovery or salvage value, but rather, it is not practical or desirable to defer writing off this basically worthless asset, even though partial recovery may occur in the future. This classification is based upon current facts, not probabilities. Assets classified as loss should be charged-off in the period in which they became uncollectible. Loans that do not share risk characteristics are evaluated on an individual basis. All loans over $ 2.0 million that are rated 5 – 8 are individually assessed for credit losses on a quarterly basis. For these loans, where the Company has determined that foreclosure of the collateral is probable, or where the borrower is experiencing financial difficulty and the Company expects repayment of the financial asset to be provided substantially through the sale of the collateral, the allowance for credit losses is measured based on the difference between the fair value of the collateral, net of estimated costs to sell, and the amortized cost basis of the loan as of the measurement date. When repayment is expected to be from the operation of the collateral, expected credit losses are calculated as the amount by which the amortized cost basis of the loan exceeds the present value of expected cash flows from the operation of the collateral. The allowance for credit losses may be zero if the fair value of the collateral, less estimated costs to sell, or present value of cash flows at the measurement date exceeds the amortized cost basis of the loan. 31 Table of Contents Based on the most recent analysis performed, the risk category of loans by class of loans as of June 30, 2026 and December 31, 2025 is as follows: June 30, 2026 Term Loans Amortized Cost Basis by Origination Year 2026 2025 2024 2023 2022 Prior Revolving Loans Amortized Cost Basis Total (In thousands) Real estate: Commercial real estate loans Non-farm/non-residential Risk rating 1 $ 190 $ — $ 699 $ 3,824 $ 2,030 $ 14,613 $ 108 $ 21,464 Risk rating 2 10,866 48,067 25,081 40,334 62,934 76,556 18,073 281,911 Risk rating 3 446,317 563,553 294,534 320,476 587,111 1,157,671 191,405 3,561,067 Risk rating 4 31,977 97,179 142,757 69,934 534,653 783,845 179,431 1,839,776 Risk rating 5 — 234 633 431 13,718 18,603 — 33,619 Risk rating 6 260 12,134 34,748 2,359 39,456 91,072 262 180,291 Risk rating 7 — — 254 — 3,447 — — 3,701 Risk rating 8 — — — — — — — — Total non-farm/non-residential 489,610 721,167 498,706 437,358 1,243,349 2,142,360 389,279 5,921,829 Construction/land development Risk rating 1 $ 335 $ — $ 166 $ 896 $ — $ 138 $ — $ 1,535 Risk rating 2 3,319 7,762 8,347 126 7,357 2,470 — 29,381 Risk rating 3 290,858 883,440 535,918 60,756 104,313 64,881 113,118 2,053,284 Risk rating 4 104,358 114,624 159,893 120,273 35,868 25,240 101,171 661,427 Risk rating 5 — — 7,566 2,992 134 391 — 11,083 Risk rating 6 — 139 7,193 — 15,128 916 30 23,406 Risk rating 7 — — — — — — — — Risk rating 8 — — — — — — — — Total construction/land development 398,870 1,005,965 719,083 185,043 162,800 94,036 214,319 2,780,116 Agricultural Risk rating 1 $ — $ — $ — $ — $ — $ 260 $ 100 $ 360 Risk rating 2 350 509 — 219 452 1,503 — 3,033 Risk rating 3 22,528 32,231 17,104 15,301 19,254 36,960 51,933 195,311 Risk rating 4 5,985 17,680 29,316 2,372 15,542 35,656 11,751 118,302 Risk rating 5 — — — — 4,187 100 — 4,287 Risk rating 6 — — 1,742 34 1,119 4,568 475 7,938 Risk rating 7 — — — — — — — — Risk rating 8 — — — — — — — — Total agricultural 28,863 50,420 48,162 17,926 40,554 79,047 64,259 329,231 Total commercial real estate loans $ 917,343 $ 1,777,552 $ 1,265,951 $ 640,327 $ 1,446,703 $ 2,315,443 $ 667,857 $ 9,031,176 Residential real estate loans Residential 1-4 family Risk rating 1 $ 2,211 $ 1,980 $ 3,994 $ 5,140 $ 22,002 $ 21,436 $ 10,469 $ 67,232 Risk rating 2 7,295 19,925 10,720 10,231 63,315 55,010 37,402 203,898 Risk rating 3 170,594 208,995 173,657 234,458 373,963 552,475 149,752 1,863,894 Risk rating 4 8,176 21,440 37,098 13,047 51,288 166,364 73,159 370,572 Risk rating 5 — 1,046 — 639 750 3,613 248 6,296 Risk rating 6 1 1,001 2,102 4,503 7,287 18,281 32 33,207 Risk rating 7 — — — — — — 363 363 Risk rating 8 — — — — — — — — Total residential 1-4 family 188,277 254,387 227,571 268,018 518,605 817,179 271,425 2,545,462 32 Table of Contents June 30, 2026 Term Loans Amortized Cost Basis by Origination Year 2026 2025 2024 2023 2022 Prior Revolving Loans Amortized Cost Basis Total (In thousands) Multifamily residential Risk rating 1 $ — $ — $ — $ — $ — $ — $ — $ — Risk rating 2 11,837 2,639 — 10,850 1,770 8,758 — 35,854 Risk rating 3 77,430 247,378 160,373 12,474 151,457 159,758 8,755 817,625 Risk rating 4 4,676 890 514 123,799 195,062 33,932 25,608 384,481 Risk rating 5 — — — — — 2,007 — 2,007 Risk rating 6 — — — — 28,500 963 — 29,463 Risk rating 7 — — — — — 298 — 298 Risk rating 8 — — — — — — — — Total multifamily residential 93,943 250,907 160,887 147,123 376,789 205,716 34,363 1,269,728 Total real estate $ 1,199,563 $ 2,282,846 $ 1,654,409 $ 1,055,468 $ 2,342,097 $ 3,338,338 $ 973,645 $ 12,846,366 Consumer Risk rating 1 $ 2,086 $ 5,900 $ 2,538 $ 1,041 $ 858 $ 1,564 $ 3,101 $ 17,088 Risk rating 2 16 253 — 20 288 211 3,111 3,899 Risk rating 3 134,181 257,542 195,781 129,108 137,714 355,067 2,954 1,212,347 Risk rating 4 1,295 1,791 1,178 1,246 4,541 6,666 277 16,994 Risk rating 5 — 16 — — 463 149 — 628 Risk rating 6 5 1,045 12,493 7,316 2,022 2,852 4 25,737 Risk rating 7 — — — — — 177 — 177 Risk rating 8 — — — 2 — 1,136 — 1,138 Total consumer 137,583 266,547 211,990 138,733 145,886 367,822 9,447 1,278,008 Commercial and industrial Risk rating 1 $ 613 $ 2,753 $ 2,193 $ 326 $ 560 $ 32,282 $ 17,138 $ 55,865 Risk rating 2 1,294 1,214 3,363 888 10,745 11,715 12,553 41,772 Risk rating 3 100,599 324,852 67,231 75,146 32,433 80,895 821,855 1,503,011 Risk rating 4 19,769 105,343 40,675 74,796 77,942 51,041 243,570 613,136 Risk rating 5 — — — 1,524 40 355 1,795 3,714 Risk rating 6 194 1,106 42,624 806 398 1,580 19,783 66,491 Risk rating 7 — — — — — 822 — 822 Risk rating 8 — — — — — 243 — 243 Total commercial and industrial 122,469 435,268 156,086 153,486 122,118 178,933 1,116,694 2,285,054 Agricultural and other Risk rating 1 $ 701 $ 146 $ 483 $ 344 $ 78 $ 107 $ 1,355 $ 3,214 Risk rating 2 13 — 114 207 16 — 596 946 Risk rating 3 126,189 7,916 3,656 2,910 2,325 33,756 232,266 409,018 Risk rating 4 54,428 5,147 6,621 981 33,175 14,375 184,926 299,653 Risk rating 5 2,357 — — — 904 6 — 3,267 Risk rating 6 — — 158 160 328 944 92 1,682 Risk rating 7 — — — — — — — — Risk rating 8 — — — — — — — — Total agricultural and other 183,688 13,209 11,032 4,602 36,826 49,188 419,235 717,780 Total $ 1,643,303 $ 2,997,870 $ 2,033,517 $ 1,352,289 $ 2,646,927 $ 3,934,281 $ 2,519,021 $ 17,127,208 33 Table of Contents December 31, 2025 Term Loans Amortized Cost Basis by Origination Year 2025 2024 2023 2022 2021 Prior Revolving Loans Amortized Cost Basis Total (In thousands) Real estate: Commercial real estate loans Non-farm/non-residential Risk rating 1 $ — $ — $ — $ — $ — $ 301 $ — $ 301 Risk rating 2 — — — — — — — — Risk rating 3 492,228 210,249 252,348 561,439 426,072 978,310 206,694 3,127,340 Risk rating 4 86,206 108,516 96,811 558,844 278,939 561,388 240,408 1,931,112 Risk rating 5 239 664 1,392 13,790 — 23,161 — 39,246 Risk rating 6 11,983 33,432 1,735 40,615 6,407 97,516 — 191,688 Risk rating 7 — — 425 — — — — 425 Risk rating 8 — — — — — — — — Total non-farm/non-residential 590,656 352,861 352,711 1,174,688 711,418 1,660,676 447,102 5,290,112 Construction/land development Risk rating 1 $ — $ — $ — $ — $ 8 $ — $ — $ 8 Risk rating 2 376 93 129 — — 120 — 718 Risk rating 3 739,449 863,012 181,685 108,648 23,610 54,423 68,558 2,039,385 Risk rating 4 63,720 201,687 56,444 143,542 14,648 20,780 163,294 664,115 Risk rating 5 — — — 16,024 — — — 16,024 Risk rating 6 — 4,584 275 512 536 836 — 6,743 Risk rating 7 — — — — — — — — Risk rating 8 — — — — — — — — Total construction/land development 803,545 1,069,376 238,533 268,726 38,802 76,159 231,852 2,726,993 Agricultural Risk rating 1 $ — $ — $ — $ 1,169 $ — $ — $ — $ 1,169 Risk rating 2 — — 225 — 1,012 — — 1,237 Risk rating 3 25,875 20,454 16,985 24,312 11,587 37,628 48,561 185,402 Risk rating 4 18,496 24,511 6,407 19,027 18,746 32,232 14,119 133,538 Risk rating 5 — — — 4,194 — 111 — 4,305 Risk rating 6 — 1,881 34 358 1,646 2,527 315 6,761 Risk rating 7 — — — — — — — — Risk rating 8 — — — — — — — — Total agricultural 44,371 46,846 23,651 49,060 32,991 72,498 62,995 332,412 Total commercial real estate loans $ 1,438,572 $ 1,469,083 $ 614,895 $ 1,492,474 $ 783,211 $ 1,809,333 $ 741,949 $ 8,349,517 Residential real estate loans Residential 1-4 family Risk rating 1 $ — $ — $ — $ — $ — $ 83 $ 1 $ 84 Risk rating 2 — — 156 — — — 1 157 Risk rating 3 284,182 179,100 230,204 344,291 165,821 393,067 120,796 1,717,461 Risk rating 4 14,704 36,409 14,293 53,960 100,597 73,643 83,482 377,088 Risk rating 5 331 — 684 653 981 5,599 101 8,349 Risk rating 6 117 667 4,143 8,520 4,481 12,693 574 31,195 Risk rating 7 — — — — — — — — Risk rating 8 — — — — — — — — Total residential 1-4 family 299,334 216,176 249,480 407,424 271,880 485,085 204,955 2,134,334 34 Table of Contents December 31, 2025 Term Loans Amortized Cost Basis by Origination Year 2025 2024 2023 2022 2021 Prior Revolving Loans Amortized Cost Basis Total (In thousands) Multifamily residential Risk rating 1 $ — $ — $ — $ — $ — $ — $ — $ — Risk rating 2 — — — — — — — — Risk rating 3 237,328 55,087 58,077 141,548 29,736 104,185 9,189 635,150 Risk rating 4 897 663 199,306 197,414 10,767 23,742 29,872 462,661 Risk rating 5 — — — — 503 1,501 — 2,004 Risk rating 6 — — — 40,113 — 983 — 41,096 Risk rating 7 — — — — — — — — Risk rating 8 — — — — — — — — Total multifamily residential 238,225 55,750 257,383 379,075 41,006 130,411 39,061 1,140,911 Total real estate $ 1,976,131 $ 1,741,009 $ 1,121,758 $ 2,278,973 $ 1,096,097 $ 2,424,829 $ 985,965 $ 11,624,762 Consumer Risk rating 1 $ 4,723 $ 2,974 $ 1,306 $ 970 $ 449 $ 1,191 $ 1,654 $ 13,267 Risk rating 2 — — — — — 217 — 217 Risk rating 3 277,176 216,183 150,202 153,393 140,454 255,252 1,218 1,193,878 Risk rating 4 2,526 1,916 1,031 5,092 1,509 4,376 126 16,576 Risk rating 5 — — 114 464 200 1,146 — 1,924 Risk rating 6 778 12,570 6,296 1,504 246 5,322 28 26,744 Risk rating 7 — — — — — — — — Risk rating 8 — — — 1,140 — — — 1,140 Total consumer 285,203 233,643 158,949 162,563 142,858 267,504 3,026 1,253,746 Commercial and industrial Risk rating 1 $ 951 $ 3,241 $ 288 $ 364 $ 636 $ 20,727 $ 14,327 $ 40,534 Risk rating 2 2 43 62 277 — 20 4,018 4,422 Risk rating 3 401,676 92,773 419,568 132,633 41,839 249,339 325,878 1,663,706 Risk rating 4 80,245 33,265 50,968 41,099 23,792 58,246 152,751 440,366 Risk rating 5 — — 7 40 4,632 955 1,147 6,781 Risk rating 6 852 40,887 391 648 663 1,785 21,025 66,251 Risk rating 7 — — — — — — — — Risk rating 8 — — 1 — 329 — 11 341 Total commercial and industrial 483,726 170,209 471,285 175,061 71,891 331,072 519,157 2,222,401 Agricultural and other Risk rating 1 $ 214 $ 556 $ 344 $ 78 $ 16 $ 90 $ 948 $ 2,246 Risk rating 2 552 115 253 16 — — 2,159 3,095 Risk rating 3 28,999 5,040 4,214 3,111 22,774 17,136 248,547 329,821 Risk rating 4 46,091 8,734 1,127 34,328 3,925 28,167 123,570 245,942 Risk rating 5 — — — 1,222 11 — — 1,233 Risk rating 6 — 1,098 108 343 32 1,265 117 2,963 Risk rating 7 — — — — — — — — Risk rating 8 — — — — — — — — Total agricultural and other 75,856 15,543 6,046 39,098 26,758 46,658 375,341 585,300 Total $ 2,820,916 $ 2,160,404 $ 1,758,038 $ 2,655,695 $ 1,337,604 $ 3,070,063 $ 1,883,489 $ 15,686,209 35 Table of Contents The following table presents gross write-offs by origination date as of June 30, 2026 and December 31, 2025. June 30, 2026 Gross Loan Write-Offs by Origination Year 2026 2025 2024 2023 2022 Prior Revolving Loans Amortized Cost Basis Total (In thousands) Real estate Commercial real estate loans Non-farm/non-residential $ — $ — $ 453 $ — $ — $ 2,218 $ — $ 2,671 Construction/land development — — — — — — — — Agricultural — — — — — 1 — 1 Residential real estate loans Residential 1-4 family — — 41 129 54 393 — 617 Total real estate — — 494 129 54 2,612 — 3,289 Consumer — 4 18 8 65 1,896 — 1,991 Commercial and industrial — — 650 892 289 603 311 2,745 Agricultural & other 1,342 * — — 2 — — — 1,344 Total $ 1,342 $ 4 $ 1,162 $ 1,031 $ 408 $ 5,111 $ 311 $ 9,369 *The 2026 write-off consists entirely of overdrafts. December 31, 2025 Gross Loan Write-Offs by Origination Year 2025 2024 2023 2022 2021 Prior Revolving Loans Amortized Cost Basis Total (In thousands) Real estate Commercial real estate loans Non-farm/non-residential $ — $ 5 $ 400 $ 47 $ 289 $ 2,293 $ — $ 3,034 Construction/land development — 18 11 — 41 — — 70 Agricultural — — — — — — — — Residential real estate loans Residential 1-4 family — 21 98 309 — 203 — 631 Multifamily residential — — — — — — — — Total real estate — 44 509 356 330 2,496 — 3,735 Consumer 222 ** 82 628 613 277 458 41 2,321 Commercial and industrial — 149 2,582 763 1,206 898 779 6,377 Agricultural & other 2,808 ** 2 — — — — — 2,810 Total $ 3,030 $ 277 $ 3,719 $ 1,732 $ 1,813 $ 3,852 $ 820 $ 15,243 **The 2025 write-offs primarily consist of overdrafts. 36 Table of Contents The Company considers the performance of the loan portfolio and its impact on the allowance for credit losses. The Company also evaluates credit quality based on the aging status of the loan, which was previously presented, and by payment activity. The following tables present the amortized cost of performing and nonperforming loans (includes impaired loans - loans individually analyzed for credit losses for which a specific reserve has been recorded, non-accrual loans, loans past due 90 days or more and restructured loans made to borrowers experiencing financial difficulty for purposes of the disclosure) as of June 30, 2026 and December 31, 2025. June 30, 2026 Term Loans Amortized Cost Basis by Origination Year 2026 2025 2024 2023 2022 Prior Revolving Loans Amortized Cost Basis Total (In thousands) Real estate: Commercial real estate loans Non-farm/non-residential Performing $ 489,350 $ 721,022 $ 465,209 $ 436,045 $ 1,212,713 $ 2,116,675 $ 389,279 $ 5,830,293 Non-performing 260 145 33,497 1,313 30,636 25,685 — 91,536 Total non-farm/non-residential 489,610 721,167 498,706 437,358 1,243,349 2,142,360 389,279 5,921,829 Construction/land development Performing $ 398,870 $ 1,005,826 $ 711,890 $ 185,043 $ 162,516 $ 93,503 $ 214,289 $ 2,771,937 Non-performing — 139 7,193 — 284 533 30 8,179 Total construction/ land development 398,870 1,005,965 719,083 185,043 162,800 94,036 214,319 2,780,116 Agricultural Performing $ 28,863 $ 50,420 $ 48,162 $ 17,926 $ 39,779 $ 78,323 $ 64,088 $ 327,561 Non-performing — — — — 775 724 171 1,670 Total agricultural 28,863 50,420 48,162 17,926 40,554 79,047 64,259 329,231 Total commercial real estate loans $ 917,343 $ 1,777,552 $ 1,265,951 $ 640,327 $ 1,446,703 $ 2,315,443 $ 667,857 $ 9,031,176 Residential real estate loans Residential 1-4 family Performing $ 188,277 $ 253,321 $ 225,619 $ 262,728 $ 511,784 $ 801,990 $ 271,062 $ 2,514,781 Non-performing — 1,066 1,952 5,290 6,821 15,189 363 30,681 Total residential 1-4 family 188,277 254,387 227,571 268,018 518,605 817,179 271,425 2,545,462 Multifamily residential Performing $ 93,943 $ 250,907 $ 160,887 $ 147,123 $ 366,420 $ 203,694 $ 34,363 $ 1,257,337 Non-performing — — — — 10,369 2,022 — 12,391 Total multifamily residential 93,943 250,907 160,887 147,123 376,789 205,716 34,363 1,269,728 Total real estate $ 1,199,563 $ 2,282,846 $ 1,654,409 $ 1,055,468 $ 2,342,097 $ 3,338,338 $ 973,645 $ 12,846,366 Consumer Performing $ 137,578 $ 266,249 $ 210,947 $ 133,233 $ 143,881 $ 364,524 $ 9,443 $ 1,265,855 Non-performing 5 298 1,043 5,500 2,005 3,298 4 12,153 Total consumer 137,583 266,547 211,990 138,733 145,886 367,822 9,447 1,278,008 Commercial and industrial Performing $ 122,321 $ 434,424 $ 113,513 $ 152,776 $ 121,947 $ 177,486 $ 1,096,975 $ 2,219,442 Non-performing 148 844 42,573 710 171 1,447 19,719 65,612 Total commercial and industrial 122,469 435,268 156,086 153,486 122,118 178,933 1,116,694 2,285,054 Agricultural and other Performing $ 183,688 $ 13,209 $ 10,874 $ 4,484 $ 36,514 $ 48,496 $ 419,235 $ 716,500 Non-performing — — 158 118 312 692 — 1,280 Total agricultural and other 183,688 13,209 11,032 4,602 36,826 49,188 419,235 717,780 Total $ 1,643,303 $ 2,997,870 $ 2,033,517 $ 1,352,289 $ 2,646,927 $ 3,934,281 $ 2,519,021 $ 17,127,208 37 Table of Contents December 31, 2025 Term Loans Amortized Cost Basis by Origination Year 2025 2024 2023 2022 2021 Prior Revolving Loans Amortized Cost Basis Total (In thousands) Real estate: Commercial real estate loans Non-farm/non-residential Performing $ 590,656 $ 319,429 $ 352,286 $ 1,147,293 $ 709,851 $ 1,629,945 $ 447,102 $ 5,196,562 Non-performing — 33,432 425 27,395 1,567 30,731 — 93,550 Total non-farm/non-residential 590,656 352,861 352,711 1,174,688 711,418 1,660,676 447,102 5,290,112 Construction/land development Performing $ 803,545 $ 1,065,095 $ 238,336 $ 268,292 $ 38,502 $ 75,522 $ 231,852 $ 2,721,144 Non-performing — 4,281 197 434 300 637 — 5,849 Total construction/land development 803,545 1,069,376 238,533 268,726 38,802 76,159 231,852 2,726,993 Agricultural Performing $ 44,371 $ 46,846 $ 23,651 $ 49,060 $ 32,991 $ 72,021 $ 62,983 $ 331,923 Non-performing — — — — — 477 12 489 Total agricultural 44,371 46,846 23,651 49,060 32,991 72,498 62,995 332,412 Total commercial real estate loans $ 1,438,572 $ 1,469,083 $ 614,895 $ 1,492,474 $ 783,211 $ 1,809,333 $ 741,949 $ 8,349,517 Residential real estate loans Residential 1-4 family Performing $ 299,149 $ 215,558 $ 244,767 $ 400,643 $ 267,493 $ 472,717 $ 204,605 $ 2,104,932 Non-performing 185 618 4,713 6,781 4,387 12,368 350 29,402 Total residential 1-4 family 299,334 216,176 249,480 407,424 271,880 485,085 204,955 2,134,334 Multifamily residential Performing $ 238,225 $ 55,750 $ 257,383 $ 368,962 $ 41,006 $ 129,599 $ 39,061 $ 1,129,986 Non-performing — — — 10,113 — 812 — 10,925 Total multifamily residential 238,225 55,750 257,383 379,075 41,006 130,411 39,061 1,140,911 Total real estate $ 1,976,131 $ 1,741,009 $ 1,121,758 $ 2,278,973 $ 1,096,097 $ 2,424,829 $ 985,965 $ 11,624,762 Consumer Performing $ 285,182 $ 232,580 $ 153,116 $ 160,625 $ 142,817 $ 262,786 $ 3,024 $ 1,240,130 Non-performing 21 1,063 5,833 1,938 41 4,718 2 13,616 Total consumer 285,203 233,643 158,949 162,563 142,858 267,504 3,026 1,253,746 Commercial and industrial Performing $ 482,817 $ 129,624 $ 471,177 $ 174,639 $ 71,256 $ 329,475 $ 499,046 $ 2,158,034 Non-performing 909 40,585 108 422 635 1,597 20,111 64,367 Total commercial and industrial 483,726 170,209 471,285 175,061 71,891 331,072 519,157 2,222,401 Agricultural and other Performing $ 75,856 $ 15,385 $ 5,938 $ 38,786 $ 26,715 $ 46,132 $ 375,264 $ 584,076 Non-performing — 158 108 312 43 526 77 1,224 Total agricultural and other 75,856 15,543 6,046 39,098 26,758 46,658 375,341 585,300 Total $ 2,820,916 $ 2,160,404 $ 1,758,038 $ 2,655,695 $ 1,337,604 $ 3,070,063 $ 1,883,489 $ 15,686,209 The Company had approximately $ 69.9 million or 279 total revolving loans convert to term loans for the six months ended June 30, 2026 compared to $ 35.7 million or 103 total revolving loans convert to term loans for the six months ended June 30, 2025. These loans were considered immaterial for vintage disclosure inclusion. 38 Table of Contents The following table presents the amortized cost basis of modified loans to borrowers experiencing financial difficulty by class and modification type at June 30, 2026 and December 31, 2025. The percentage of the amortized cost basis of loans that were modified to borrowers in financial distress as compared to the amortized cost basis of each class of financing receivable is also presented below. June 30, 2026 Combination of Modifications Term Extension Interest Rate Reduction Principal Reduction Interest Only Interest Rate Reduction and Term Extension Term Extension and Interest Only Term Extension and Principal Reduction Post- Modification Outstanding Balance Percentage of Total Class of Loans Receivable (In thousands) Real estate: Commercial real estate loans Non-farm/non-residential $ 373 $ 31,869 $ — $ 881 $ 326 $ 14,310 $ — $ 47,759 0.81 % Construction/land development — — — — — — — — — Residential real estate loans Residential 1-4 family 1,020 584 96 18 2,609 — 112 4,439 0.17 Total real estate 1,393 32,453 96 899 2,935 14,310 112 52,198 0.41 Consumer — 1,135 — — — — — 1,135 0.09 Commercial and industrial 55 60,206 — — — — — 60,261 2.64 Total $ 1,448 $ 93,794 $ 96 $ 899 $ 2,935 $ 14,310 $ 112 $ 113,594 0.66 % December 31, 2025 Combination of Modifications Term Extension Interest Rate Reduction Principal Reduction Interest Only Interest Rate Reduction and Term Extension Term Extension and Interest Only Term Extension and Principal Reduction Post- Modification Outstanding Balance Percentage of Total Class of Loans Receivable (In thousands) Real estate: Commercial real estate loans Non-farm/non-residential $ 378 $ 31,869 $ — $ 1,001 $ 330 $ 14,752 $ — $ 48,330 0.91 % Construction/land development — — — 36 — — — 36 — Residential real estate loans Residential 1-4 family 1,033 1,018 99 20 2,300 — 114 4,584 0.21 Total real estate 1,411 32,887 99 1,057 2,630 14,752 114 52,950 0.46 Consumer — 2,938 — — — — — 2,938 0.23 Commercial and industrial 58 59,585 — — 74 — — 59,717 2.69 Total $ 1,469 $ 95,410 $ 99 $ 1,057 $ 2,704 $ 14,752 $ 114 $ 115,605 0.74 % During the six months ended June 30, 2026, the Company restructured approximately $ 315,000 in loans to three borrowers. The ending balance of these loans as of June 30, 2026, was $ 302,000 . During the six months ended June 30, 2025, the Company restructured approximately $ 4.2 million in loans to six borrowers. The ending balance of these loans as of June 30, 2025, was $ 4.1 million. The Company considered the financial effect of these loan modifications to borrowers experiencing financial difficulty during the six months ended June 30, 2026 and June 30, 2025 as well as the unadvanced balances to these borrowers immaterial for tabular disclosure inclusion. 39 Table of Contents The following table presents the amortized cost basis of loans that had a payment default during the six months ended June 30, 2026 and were modified in the twelve months prior to that default to borrowers experiencing financial difficulty. June 30, 2026 Term Extension Interest Rate Reduction Combination Interest Rate Reduction and Term Extension (Dollars in thousands) Real estate Commercial real estate loans Non-farm/non-residential $ — $ — $ — Residential real estate loans Residential 1-4 family — 116 369 Total real estate — 116 369 Consumer — — — Commercial and industrial 2 — — Total $ 2 $ 116 $ 369 The Company closely monitors the performance of the loans that are modified to borrowers experiencing financial difficulty to understand the effectiveness of its modification efforts. The Company has modified 10 loans over the past 12 months to borrowers experiencing financial difficulty. The pre-modification balance of the loans was $ 1.1 million, and the ending balance as of June 30, 2026 was $ 1.0 million. The $ 1.0 million balance consists of $ 487,000 of non-accrual loans and $ 532,000 of current loans as of June 30, 2026. 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 written off. Therefore, the amortized cost basis of the loan is reduced by the uncollectible amount and the allowance for credit losses on loans is adjusted by the same amount. The defaults impact the loss rate by applicable loan pool for the quarterly CECL calculation. For individually analyzed loans which are not considered to be collateral dependent, an allowance is recorded based on the loss rate for the respective pool within the collective evaluation. The following is a presentation of total foreclosed assets as of June 30, 2026 and December 31, 2025: June 30, 2026 December 31, 2025 (In thousands) Commercial real estate loans Non-farm/non-residential $ 23,911 $ 23,433 Construction/land development 16,024 15,230 Residential real estate loans Residential 1-4 family 2,204 1,168 Total foreclosed assets held for sale $ 42,139 $ 39,831 6. Goodwill and Core Deposits and Other Intangibles Changes in the carrying amount and accumulated amortization of the Company’s goodwill and core deposits and other intangibles at June 30, 2026 and December 31, 2025, were as follows: June 30, 2026 December 31, 2025 (In thousands) Goodwill Balance, beginning of period $ 1,398,253 $ 1,398,253 Acquisition of Mountain Commerce Bancorp, Inc. $ 11,958 $ — Balance, end of period $ 1,410,211 $ 1,398,253 40 Table of Contents June 30, 2026 December 31, 2025 (In thousands) Core Deposit Intangibles Balance, beginning of period, January 1 $ 32,293 $ 40,327 Acquisition of Mountain Commerce Bancorp, Inc. 38,075 — Amortization expense ( 4,827 ) ( 4,072 ) Balance, June 30 $ 65,541 36,255 Amortization expense ( 3,962 ) Balance, end of year $ 32,293 The carrying basis and accumulated amortization of core deposit intangibles at June 30, 2026 and December 31, 2025 were : June 30, 2026 December 31, 2025 (In thousands) Gross carrying basis $ 166,963 $ 128,888 Accumulated amortization ( 101,422 ) ( 96,595 ) Net carrying amount $ 65,541 $ 32,293 Core deposit intangible amortization expense was approximately $ 2.9 million and $ 2.0 million for the three months ended June 30, 2026 and 2025, respectively. Core deposit intangible amortization expense was approximately $ 4.8 million and $ 4.1 million for the six months ended June 30, 2026 and 2025, respectively. The Company’s estimated amortization expense of core deposits intangibles for each of the years 2026 through 2030 is approximately: 2026 – $ 10.6 million; 2027 – $ 10.4 million; 2028 – $ 8.0 million; 2029 – $ 8.0 million; 2030 - $ 8.0 million. The carrying amount of the Company’s goodwill was $ 1.41 billion and $ 1.40 billion at June 30, 2026 and December 31, 2025, respectively. Goodwill is tested annually for impairment during the fourth quarter or more often if events and circumstances indicate there may be an impairment. During the 2025 review, no impairment was found. If the implied fair value of goodwill is lower than its carrying amount, goodwill impairment is indicated, and goodwill is written down to its implied fair value. Subsequent increases in goodwill value are not recognized in the consolidated financial statements. 7. Other Assets Other assets consist primarily of equity securities without a readily determinable fair value and other miscellaneous assets. As of June 30, 2026 and December 31, 2025, other assets were $ 374.3 million and $ 374.6 million, respectively. The Company has equity securities without readily determinable fair values such as stock holdings in the Federal Home Loan Bank ("FHLB"), the Federal Reserve Bank ("Federal Reserve") and First National Bankers' Bank ("FNBB") which are outside the scope of ASC Topic 321, Investments – Equity Securities ("ASC Topic 321"). These equity securities without a readily determinable fair value were $ 127.6 million and $ 128.1 million at June 30, 2026 and December 31, 2025, and are accounted for at cost. The Company holds equity securities accounted for under ASC Topic 321, including securities without a readily determinable fair value and securities measured using net asset value as a practical expedient to determine fair value under ASC Topic 820. These equity securities were $ 104.7 million and $ 97.1 million at June 30, 2026 and December 31, 2025, respectively. There were no transactions during the period that would indicate a material change in fair value. The remaining capital commitments were $ 26.0 million and $ 27.0 million at June 30, 2026 and December 31, 2025, respectively. 8. Deposits On April 1, 2026, the Company completed the acquisition of MCBI. Including the effects of the known purchase accounting adjustments, as of the acquisition date, MCBI had approximately $ 1.54 billion in deposits. The aggregate amount of time deposits of $250,000 or less was $ 1.02 billion and $ 805.3 million at June 30, 2026 and December 31, 2025, respectively, and the aggregate amount of time deposits of more than $250,000 was $ 1.22 billion and $ 1.01 billion at June 30, 2026 and December 31, 2025, respectively. 41 Table of Contents The following table presents the interest expense on time deposits for the three-month and six-month periods ended June 30, 2026 and 2025: 3 Months Ended 6 Months Ended Jun 30, 2026 Jun 30, 2025 Jun 30, 2026 Jun 30, 2025 (In thousands) Interest Expense Time deposits less than $250,000 $ 8,394 $ 7,730 $ 14,765 $ 15,727 Time deposits of more than $250,000 10,387 9,717 18,753 18,835 Total $ 18,781 $ 17,447 $ 33,518 $ 34,562 As of June 30, 2026 and December 31, 2025, brokered deposits were $ 587.3 million and $ 435.7 million, respectively. Deposits totaling approximately $ 3.23 billion and $ 3.32 billion at June 30, 2026 and December 31, 2025, respectively, were public funds obtained primarily from state and political subdivisions in the United States. 9. Securities Sold Under Agreements to Repurchase At June 30, 2026 and December 31, 2025, securities sold under agreements to repurchase totaled $ 158.7 million and $ 155.8 million, respectively. For the three-month periods ended June 30, 2026 and 2025, securities sold under agreements to repurchase daily weighted-average totaled $ 167.9 million and $ 143.8 million, respectively. For the six-month periods ended June 30, 2026 and 2025, securities sold under agreements to repurchase daily weighted-average totaled $ 159.9 million and $ 149.8 million, respectively. The remaining contractual maturity of securities sold under agreements to repurchase in the consolidated balance sheets as of June 30, 2026 and December 31, 2025 is presented in the following table: June 30, 2026 December 31, 2025 Overnight and Continuous Total Overnight and Continuous Total (In thousands) Securities sold under agreements to repurchase: Mortgage-backed securities $ 69,525 $ 69,525 $ 55,615 $ 55,615 State and political subdivisions 20,049 20,049 31,103 31,103 Other securities 69,170 69,170 69,085 69,085 Total borrowings $ 158,744 $ 158,744 $ 155,803 $ 155,803 10. FHLB and Other Borrowed Funds The Company’s FHLB borrowed funds, which are secured by our loan portfolio, were $ 450.0 million and $ 500.0 million at June 30, 2026 and December 31, 2025, respectively. At June 30, 2026, $ 50.0 million and $ 400.0 million of the outstanding balances were classified as short-term and long-term advances, respectively. At December 31, 2025, $ 100.0 million and $ 400.0 million of the outstanding balances were classified as short-term and long-term advances, respectively. The FHLB advances mature from 2026 to 2037 with fixed interest rates ranging from 3.37 % to 4.67 %. Expected maturities could differ from contractual maturities because FHLB may have the right to call, or the Company may have the right to prepay certain obligations. Other borrowed funds were $ 250,000 at both June 30, 2026 and December 31, 2025. These were classified as short-term advances. Additionally, the Company had $ 1.85 billion and $ 1.48 billion at June 30, 2026 and December 31, 2025, respectively, in letters of credit under a FHLB blanket borrowing line of credit, which are used to collateralize public deposits. 42 Table of Contents 11. Subordinated Debentures Subordinated debentures at June 30, 2026 and December 31, 2025 consisted of the following components: As of June 30, 2026 As of December 31, 2025 (In thousands) Subordinated debt securities Subordinated notes, net of issuance costs, issued in 2022, due 2032, fixed rate of 3.125 % during the first five years and at a floating rate of 182 basis points above the then three-month SOFR rate, reset quarterly, thereafter, callable in 2027 without penalty 279,602 279,265 Total $ 279,602 $ 279,265 Subordinated Debt Securities . On January 18, 2022, the Company completed an underwritten public offering of $ 300.0 million in aggregate principal amount of its 3.125 % Fixed-to-Floating Rate Subordinated Notes due 2032 (the "2032 Notes") for net proceeds, after underwriting discounts and issuance costs of approximately $ 296.4 million. The 2032 Notes are unsecured, subordinated debt obligations of the Company and will mature on January 30, 2032. From and including the date of issuance to, but excluding January 30, 2027 or the date of earlier redemption, the 2032 Notes will bear interest at an initial rate of 3.125 % per annum, payable in arrears on January 30 and July 30 of each year. From and including January 30, 2027 to, but excluding, the maturity date or earlier redemption, the 2032 Notes will bear interest at a floating rate equal to the Benchmark rate (which is expected to be Three-Month Term SOFR), each as defined in and subject to the provisions of the applicable supplemental indenture for the 2032 Notes, plus 182 basis points, payable quarterly in arrears on January 30, April 30, July 30, and October 30 of each year, commencing on April 30, 2027. The Company may, beginning with the interest payment date of January 30, 2027, and on any interest payment date thereafter, redeem the 2032 Notes, in whole or in part, subject to prior approval of the Federal Reserve if then required, at a redemption price equal to 100 % of the principal amount of the 2032 Notes to be redeemed plus accrued and unpaid interest to but excluding the date of redemption. The Company may also redeem the 2032 Notes at any time, including prior to January 30, 2027, at the Company’s option, in whole but not in part, subject to prior approval of the Federal Reserve if then required, if certain events occur that could impact the Company’s ability to deduct interest payable on the 2032 Notes for U.S. federal income tax purposes or preclude the 2032 Notes from being recognized as Tier 2 capital for regulatory capital purposes, or if the Company is required to register as an investment company under the Investment Company Act of 1940, as amended. In each case, the redemption would be at a redemption price equal to 100 % of the principal amount of the 2032 Notes plus any accrued and unpaid interest to, but excluding, the redemption date. On September 4, 2025, the Company repurchased $ 20.0 million of the 2032 Notes in an open-market transaction. The repurchase resulted in a $ 1.9 million gain. 43 Table of Contents 12. Income Taxes The following is a summary of the components of the provision for income taxes for the three and six months ended June 30, 2026 and 2025: For the Three Months Ended June 30, For the Six Months Ended June 30, 2026 2025 2026 2025 (In thousands) Current: Federal $ 31,852 $ 28,777 $ 53,416 $ 49,995 State 6,341 5,818 10,634 10,108 Total current 38,193 34,595 64,050 60,103 Deferred: Federal ( 2,599 ) ( 838 ) 4,211 4,517 State ( 518 ) ( 169 ) 838 913 Total deferred ( 3,117 ) ( 1,007 ) 5,049 5,430 Income tax expense $ 35,076 $ 33,588 $ 69,099 $ 65,533 The reconciliation between the statutory federal income tax rate and effective income tax rate by dollar amount and percentage is as follows for the three and six months ended June 30, 2026 and 2025: Three Months Ended June 30, 2026 Three Months Ended June 30, 2025 Six Months Ended June 30, 2026 Six Months Ended June 30, 2025 Amount Percent Amount Percent Amount Percent Amount Percent Income tax at federal statutory rate $ 32,425 21.00 % $ 31,918 21.00 % $ 64,393 21.00 % $ 62,821 21.00 % Tax effect of: State income taxes, net of federal income taxes (1) 3,764 2.44 3,490 2.30 7,494 2.44 7,073 2.37 Tax credits Other tax credits ( 56 ) ( 0.04 ) % ( 61 ) ( 0.04 ) % ( 116 ) ( 0.04 ) % ( 121 ) ( 0.04 ) % Nontaxable or nondeductible items Nontaxable income: Interest on municipal securities ( 1,776 ) ( 1.15 ) % ( 1,681 ) ( 1.11 ) % ( 3,559 ) ( 1.16 ) % ( 3,370 ) ( 1.13 ) % Income on bank-owned life insurance ( 384 ) ( 0.25 ) % ( 559 ) ( 0.37 ) % ( 672 ) ( 0.22 ) % ( 946 ) ( 0.32 ) % Other nontaxable income ( 210 ) ( 0.14 ) % ( 446 ) ( 0.29 ) % ( 845 ) ( 0.28 ) % ( 1,431 ) ( 0.48 ) % Nondeductible expenses: Municipal bond interest expense 46 0.03 % 41 0.03 % 93 0.03 % 84 0.03 % Executive compensation expense 799 0.52 % 633 0.42 % 1,434 0.47 % 902 0.30 % Other nondeductible expenses 468 0.30 % 253 0.17 % 877 0.29 % 521 0.17 % Other — — % — — % — — % — — % Total $ 35,076 22.72 % $ 33,588 22.10 % $ 69,099 22.53 % $ 65,533 21.91 % (1) State taxes in Arkansas, Florida and New York made up the majority (greater than 50%) of the tax effect in this category. The effective tax rate differs from the U.S. federal statutory rate primarily due to state income taxes, net of federal benefit, and executive compensation, which increased the rate. These increases were partially offset by the effect of non-taxable interest income, which lowered the rate. 44 Table of Contents Income taxes paid, net of refunds received, for the six months ended June 30, 2026 is as follows: June 30, 2026 (In thousands) Federal $ 20,000 State and local New York 2,196 All other states 1,999 Total 24,195 The types of temporary differences between the tax basis of assets and liabilities and their financial reporting amounts that give rise to deferred income tax assets and liabilities, and their approximate tax effects, are as follows: June 30, 2026 December 31, 2025 (In thousands) Deferred tax assets: Allowance for credit losses $ 89,168 $ 80,486 Deferred compensation 5,297 7,048 Stock compensation 2,621 3,671 Non-accrual interest income 1,551 1,388 Real estate owned 455 310 Unrealized loss on investment securities, available-for-sale 52,416 51,026 Loan discounts 9,215 2,110 Investments 25,746 22,619 Other 14,253 12,882 Gross deferred tax assets 200,722 181,540 Deferred tax liabilities: Accelerated depreciation on premises and equipment 6,622 2,521 Tax basis on acquisitions 11,970 10,645 Core deposit intangible 15,309 7,217 FHLB dividends 1,877 2,003 Other 11,141 11,132 Gross deferred tax liabilities 46,919 33,518 Net deferred tax assets $ 153,803 $ 148,022 The Company files income tax returns in the U.S. federal jurisdiction. The Company is no longer subject to U.S. federal and state tax examinations by tax authorities for years before 2022. The Company’s income tax returns are open and subject to examinations from the 2022 tax year and forward. The Company recognizes interest related to unrecognized tax benefits in interest expense and penalties in other non-interest expense. During the three and six months ended June 30, 2026 and 2025, the Company did not recognize any significant interest or penalties. 13. Common Stock, Compensation Plans and Other Common Stock As of June 30, 2026, the Company’s Restated Articles of Incorporation, as amended, authorized the issuance of up to 400,000,000 shares of common stock, par value $ 0.01 per share. The Company also has the authority to issue up to 5,500,000 shares of preferred stock, par value $ 0.01 per share under the Company’s Restated Articles of Incorporation, as amended. 45 Table of Contents Stock Repurchases During the six months ended June 30, 2026, the Company repurchased a total of 2,007,622 shares with a weighted-average stock price of $ 27.04 per share. Shares repurchased under the program as of June 30, 2026 since its inception total 31,405,835 shares. The remaining balance available for repurchase is 15,101,672 shares at June 30, 2026. Stock Compensation Plans The Company has a stock option and performance incentive plan known as the Home BancShares, Inc. 2022 Equity Incentive Plan (the "Plan"). The purpose of the Plan is to attract and retain highly qualified officers, directors, key employees, and other persons, and to motivate those persons to improve the Company’s business results. As of June 30, 2026, the maximum total number of shares of the Company’s common stock available for issuance under the Plan was 14,788,000 shares. At June 30, 2026, the Company had 1,141,347 shares of common stock available for future grants and 2,307,548 shares of common stock reserved for issuance pursuant to the Plan. The intrinsic value of the stock options outstanding was $ 6.3 million, which includes the intrinsic value of vested stock options of $ 6.2 million at June 30, 2026. The intrinsic value of stock options exercised during the six months ended June 30, 2026 was approximately $ 506,000 . Total unrecognized compensation cost related to non-vested stock option awards, which are expected to be recognized over the vesting periods, was approximately $ 230,000 as of June 30, 2026. The table below summarizes the stock option transactions under the Plan at June 30, 2026 and December 31, 2025 and changes during the six-month period and year then ended: For the Six Months Ended June 30, 2026 For the Year Ended December 31, 2025 Shares (000) Weighted- Average Exercisable Price Shares (000) Weighted- Average Exercisable Price Outstanding, beginning of year 1,240 $ 23.10 1,590 $ 22.66 Granted — — 10 26.46 Forfeited/Expired — — ( 19 ) 22.21 Exercised ( 74 ) 21.78 ( 341 ) 21.20 Outstanding, end of period 1,166 23.18 1,240 23.10 Exercisable, end of period 1,136 23.12 974 22.96 Stock-based compensation expense for stock-based compensation awards granted is based on the grant-date fair value. For stock option awards, the fair value is estimated at the date of grant using the Black-Scholes option-pricing model. This model requires the input of highly subjective assumptions, changes to which can materially affect the fair value estimate. Additionally, there may be other factors that would otherwise have a significant effect on the value of employee stock options granted but are not considered by the model. Accordingly, while management believes that the Black-Scholes option-pricing model provides a reasonable estimate of fair value, the model does not necessarily provide the best single measure of fair value for the Company's employee stock options. There were no options granted during the six months ended June 30, 2026. The fair value of each option granted is estimated on the date of grant using the Black-Scholes option-pricing model based on the weighted-average assumptions for expected dividend yield, expected stock price volatility, risk-free interest rate, and expected life of options granted. The assumptions used in determining the fair value of the 2026 and 2025 stock option grants were as follows: For the Six Months Ended June 30, 2026 For the Year Ended December 31, 2025 Expected dividend yield Not applicable 3.02 % Expected stock price volatility Not applicable 29.16 % Risk-free interest rate Not applicable 4.13 % Expected life of options Not applicable 6.5 years 46 Table of Contents The following is a summary of currently outstanding and exercisable options at June 30, 2026: Options Outstanding Options Exercisable Exercise Prices Options Outstanding Shares (000) Weighted- Average Remaining Contractual Life (in years) Weighted- Average Exercise Price Options Exercisable Shares (000) Weighted- Average Exercise Price $ 18.00 to $ 19.99 22 2.78 $ 19.06 22 $ 19.06 $ 20.00 to $ 21.99 52 5.75 20.54 52 20.54 $ 22.00 to $ 23.99 1,019 2.18 23.20 1,011 23.21 $ 24.00 to $ 25.99 53 2.42 25.39 47 25.53 $ 26.00 to $ 27.99 10 8.80 26.46 2 26.46 $ 28.00 to $ 29.99 10 8.36 29.41 2 29.41 1,166 1,136 The table below summarized the activity for the Company’s restricted stock issued and outstanding at June 30, 2026 and December 31, 2025 and changes during the period and year then ended: As of June 30, 2026 As of December 31, 2025 (In thousands) Beginning of year 1,118 1,429 Issued 672 265 Vested ( 548 ) ( 559 ) Forfeited ( 1 ) ( 17 ) End of period 1,241 1,118 Amount of expense for the six months and twelve months ended, respectively $ 6,370 $ 9,784 Total unrecognized compensation cost related to non-vested restricted stock awards, which are expected to be recognized over the vesting periods, was approximately $ 25.4 million as of June 30, 2026. 47 Table of Contents 14. Non-Interest Expense The table below shows the components of non-interest expense for the three and six months ended June 30, 2026 and 2025: Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 (In thousands) Salaries and employee benefits $ 68,742 $ 64,318 $ 131,978 $ 126,173 Occupancy and equipment 15,787 14,023 30,654 28,448 Data processing expense 9,307 8,364 18,191 16,922 Merger and acquisition expenses 12,726 — 13,120 — Other operating expenses: Advertising 2,214 2,054 4,441 3,982 Amortization of intangibles 2,889 2,025 4,827 4,072 Electronic banking expense 3,223 3,172 6,549 6,227 Directors’ fees 416 431 934 883 Due from bank service charges 344 283 677 564 FDIC and state assessment 3,045 1,636 4,644 5,023 Insurance 1,090 1,049 2,164 2,048 Legal and accounting 1,426 2,360 2,340 6,001 Other professional fees 2,247 2,211 4,193 4,158 Operating supplies 769 711 1,517 1,422 Postage 684 488 1,227 991 Telephone 324 419 687 855 Other expense 10,261 12,496 21,326 21,199 Total other operating expenses 28,932 29,335 55,526 57,425 Total non-interest expense $ 135,494 $ 116,040 $ 249,469 $ 228,968 15. Leases The Company leases land and office facilities under long-term, non-cancelable operating lease agreements. The leases expire at various dates through 2039 and do not include renewal options based on economic factors that would have implied that continuation of the lease was reasonably certain. Certain leases provide for increases in future minimum annual rental payments as defined in the lease agreements. The leases generally include real estate taxes and common area maintenance charges in the rental payments. Short-term leases are leases having a term of twelve months or less. The Company does not separate nonlease components from the associated lease component of our operating leases. As a result, the Company accounts for these components as a single component since (i) the timing and pattern of transfer of the nonlease components and the associated lease component are the same and (ii) the lease component, if accounted for separately, would be classified as an operating lease. The Company recognizes short term leases on a straight-line basis and does not record a related right-of-use ("ROU") asset and liability for such leases. In addition, equipment leases were determined to be immaterial and a related ROU asset and liability for such leases is not recorded. As of June 30, 2026, the balances of the ROU asset and lease liability were $ 31.9 million and $ 32.8 million, respectively. As of December 31, 2025, the balances of the ROU asset and lease liability were $ 33.9 million and $ 34.8 million, respectively. The ROU asset is included in bank premises and equipment, net , and the lease liability is included in accrued interest payable and other liabilities . 48 Table of Contents The minimum rental commitments under these noncancelable operating leases are as follows (in thousands) as of June 30, 2026 and December 31, 2025: June 30, 2026 December 31, 2025 2026 $ 4,750 $ 9,802 2027 8,184 7,689 2028 5,840 5,377 2029 5,496 5,071 2030 5,100 4,767 Thereafter 17,405 16,822 Total future minimum lease payments $ 46,775 $ 49,528 Discount effect of cash flows ( 13,998 ) ( 14,738 ) Present value of net future minimum lease payments $ 32,777 $ 34,790 Additional information (dollar amounts in thousands): Three Months Ended Six Months Ended Lease expense: June 30, 2026 June 30, 2025 June 30, 2026 June 30, 2025 Operating lease expense $ 2,485 $ 2,307 $ 4,902 $ 4,620 Variable lease expense 235 270 471 543 Total lease expense $ 2,720 $ 2,577 $ 5,373 $ 5,163 Other information: Cash paid for amounts included in the measurement of lease liabilities $ 2,191 $ 2,001 $ 4,346 $ 4,016 Weighted-average remaining lease term (in years) 7.66 7.30 7.73 7.11 Weighted-average discount rate 3.62 % 3.62 % 3.61 % 3.64 % The Company currently leases two properties from two related parties. Total rent expense from the leases was $ 21,000 , or 0.76 % of total lease expense, and $ 40,000 , or 0.75 % of total lease expense, for the three and six months ended June 30, 2026, respectively. 16. Significant Estimates and Concentrations of Credit Risks Accounting principles generally accepted in the United States of America require disclosure of certain significant estimates and current vulnerabilities due to certain concentrations. Estimates related to the allowance for credit losses and certain concentrations of credit risk are reflected in Note 5, while deposit concentrations are reflected in Note 8. The Company’s primary market areas are in Arkansas, Florida, Texas, Tennessee, South Alabama and New York. The Company primarily grants loans to customers located within these markets unless the borrower has an established relationship with the Company. The diversity of the Company’s economic base tends to provide a stable lending environment. Although the Company has a loan portfolio that is diversified in both industry and geographic area, a substantial portion of its debtors’ ability to honor their contracts is dependent upon real estate values, tourism demand and the economic conditions prevailing in its market areas. Although the Company has a diversified loan portfolio, at both June 30, 2026 and December 31, 2025, commercial real estate loans represented 52.7 % and 53.2 % of total loans receivable, respectively, and 198.6 % and 194.3 % of total stockholders’ equity, respectively. Residential real estate loans represented 22.3 % and 20.9 % of total loans receivable and 83.9 % and 76.2 % of total stockholders’ equity at June 30, 2026 and December 31, 2025, respectively. Approximately 81.2 % of the Company’s total loans and 85.1 % of the Company’s real estate loans as of June 30, 2026, are to borrowers whose collateral is located in Alabama, Arkansas, Florida, Texas, Tennessee and New York, the states in which the Company has its branch locations. 49 Table of Contents Any future volatility in the economy could cause the values of assets and liabilities recorded in the financial statements to change rapidly, resulting in material future adjustments in asset values, the allowance for credit losses and capital that could negatively impact the Company’s ability to meet regulatory capital requirements and maintain sufficient liquidity. 17. Commitments and Contingencies In the ordinary course of business, the Company makes various commitments and incurs certain contingent liabilities to fulfill the financing needs of its customers. These commitments and contingent liabilities include lines of credit and commitments to extend credit and issue standby letters of credit. The Company applies the same credit policies and standards as they do in the lending process when making these commitments. The collateral obtained is based on the assessed creditworthiness of the borrower. At June 30, 2026 and December 31, 2025, commitments to extend credit of $ 4.09 billion and $ 4.13 billion, respectively, were outstanding. A percentage of these balances are participated out to other banks; therefore, the Company can call on the participating banks to fund future draws. Since some of these commitments are expected to expire without being drawn upon, the total commitment amount does not necessarily represent future cash requirements. Outstanding standby letters of credit are contingent commitments issued by the Company, generally to guarantee the performance of a customer in third-party borrowing arrangements. The term of the guarantee is dependent upon the creditworthiness of the borrower. The amount of collateral obtained, if deemed necessary, is based on management’s credit evaluation of the counterparty. Collateral held varies but may include accounts receivable, inventory, property, plant and equipment, commercial real estate and residential real estate. Management uses the same credit policies in granting lines of credit as it does for on-balance-sheet instruments. The maximum amount of future payments the Company could be required to make under these guarantees at June 30, 2026 and December 31, 2025, was $ 118.2 million and $ 131.9 million, respectively. The Company and/or its bank subsidiary have various unrelated legal proceedings, most of which involve loan foreclosure activity pending, which, in the aggregate, are not expected to have a material adverse effect on the financial position or results of operations or cash flows of the Company and its subsidiary. 18. Regulatory Matters The Bank is subject to a legal limitation on dividends that can be paid to the parent company without prior approval of the applicable regulatory agencies. Arkansas bank regulators have specified that the maximum dividend limit state banks may pay to the parent company without prior approval is 75 % of the current year earnings plus 75 % of the retained net earnings of the preceding year. Since the Bank is also under supervision of the Federal Reserve, it is further limited if the total of all dividends declared in any calendar year by the Bank exceeds the Bank’s net profits to date for that year combined with its retained net profits for the preceding two years. During the six months ended June 30, 2026, the Company requested approximately $ 181.1 million in regular dividends from its banking subsidiary. The Company’s banking subsidiary is subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Company’s consolidated financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Company must meet specific capital guidelines that involve quantitative measures of the Company’s assets, liabilities and certain off-balance-sheet items as calculated under regulatory accounting practices. The Company’s capital amounts and classifications are also subject to qualitative judgments by the regulators about components, risk weightings and other factors. Furthermore, the Company’s regulators could require adjustments to regulatory capital not reflected in the consolidated financial statements. Quantitative measures established by regulation to ensure capital adequacy require the Company to maintain minimum amounts and ratios of total, Tier 1 common equity Tier 1 ("CET1") and Tier 1 capital (as defined in the regulations) to risk-weighted assets (as defined) and of Tier 1 capital (as defined) to average assets (as defined). Management believes that, as of June 30, 2026, the Company meets all capital adequacy requirements to which it is subject. Basel III became effective for the Company and its bank subsidiary on January 1, 2015. Basel III amended the prompt corrective action rules to incorporate a CET1 requirement and to raise the capital requirements for certain capital categories. In order to be adequately capitalized for purposes of the prompt corrective action rules, a banking organization is required to have at least a 4.5 % CET1 risk-based capital ratio, a 4 % Tier 1 leverage capital ratio, a 6 % Tier 1 risk-based capital ratio and an 8 % total risk-based capital ratio. 50 Table of Contents The Federal Reserve Board’s risk-based capital guidelines include the definitions for (1) a well-capitalized institution, (2) an adequately-capitalized institution, and (3) an undercapitalized institution. Under Basel III, the criteria for a well-capitalized institution are: a 6.5 % CET1 risk-based capital ratio, a 5 % Tier 1 leverage capital ratio, an 8 % Tier 1 risk-based capital ratio, and a 10 % total risk-based capital ratio. As of June 30, 2026, the Bank met the capital standards for a well-capitalized institution. The Company’s CET1 risk-based capital ratio, Tier 1 leverage capital ratio, Tier 1 risk-based capital ratio, and total risk-based capital ratio were 16.34 %, 13.94 %, 16.34 %, and 19.01 %, respectively, as of June 30, 2026. 19. Additional Cash Flow Information The following is a summary of the Company’s additional cash flow information during the six-month period ended: June 30, 2026 2025 (In thousands) Interest paid $ 181,936 $ 197,709 Income taxes paid, net of refunds received 24,195 48,211 Assets acquired by foreclosure 3,182 2,531 20. Financial Instruments Fair value is the price that would be received for an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value measurements must maximize the use of observable inputs and minimize the use of unobservable inputs. There is a hierarchy of three levels of inputs that may be used to measure fair values: Level 1 Quoted prices in active markets for identical assets or liabilities Level 2 Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities Level 3 Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities A financial instrument’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. Transfers of financial instruments between levels within the fair value hierarchy are recognized on the date management determines that the underlying circumstances or assumptions have changed. Available-for-sale securities – Available-for-sale securities are the only material instruments valued on a recurring basis which are held by the Company at fair value. The Company's available-for-sale securities are primarily considered to be Level 2 securities. The Level 2 securities consist primarily of U.S. government-sponsored enterprises, mortgage-backed securities plus state and political subdivisions. For these securities, the Company obtains fair value measurements from an independent pricing service. The fair value measurements consider observable data that may include dealer quotes, market spreads, cash flows, the U.S. Treasury yield curve, live trading levels, trade execution data, market consensus prepayment speeds, credit information and the bond’s terms and conditions, among other things. There were no material transfers between hierarchy levels during the periods ended June 30, 2026 and December 31, 2025. The Company reviews the prices supplied by the independent pricing service, as well as their underlying pricing methodologies, for reasonableness and to ensure such prices are aligned with traditional pricing matrices. In general, the Company does not purchase investment portfolio securities with complicated structures. Pricing for the Company’s investment securities is fairly generic and is easily obtained. The Company uses a third-party comparison pricing vendor in order to reflect consistency in the fair values of the investment securities sampled by the Company each quarter. See footnote 3 for further detail related to the fair value of the Company's available-for-sale investment portfolio. 51 Table of Contents The following table presents the Company's financial assets by level within the fair value hierarchy that were measured at fair value on a recurring basis during the periods ended June 30, 2026 and December 31, 2025 (in thousands): June 30, 2026 Fair Value Measurements Fair Value Level 1 Level 2 Level 3 (in thousands) U.S. government-sponsored enterprises $ 204,386 $ — $ 204,386 $ — U.S. government-sponsored mortgage-backed securities 1,159,938 — 1,159,938 — Private mortgage-backed securities 167,761 — 167,761 — Non-government-sponsored asset backed securities 96,881 — 96,881 — State and political subdivisions 905,333 — 891,426 13,907 Other securities 241,917 — 221,138 20,779 Total $ 2,776,216 $ — $ 2,741,530 $ 34,686 December 31, 2025 Fair Value Measurements Fair Value Level 1 Level 2 Level 3 (in thousands) U.S. government-sponsored enterprises $ 240,782 $ — $ 240,782 $ — U.S. government-sponsored mortgage-backed securities 1,212,948 — 1,212,948 — Private mortgage-backed securities 145,720 — 145,720 — Non-government-sponsored asset backed securities 157,844 — 157,844 — State and political subdivisions 887,838 — 872,522 15,316 Other securities 226,799 — 212,004 14,795 Total $ 2,871,931 $ — $ 2,841,820 $ 30,111 Certain assets and liabilities are measured at fair value on a nonrecurring basis; that is, the instruments are not measured at fair value on an ongoing basis but are subject to fair value adjustments in certain circumstances. Assets and liabilities measured at fair value on a nonrecurring basis include the following: Individually Evaluated Loans – Individually evaluated loans are the only material financial assets valued on a non-recurring basis which are held by the Company at fair value. When the Company has a specific expectation to initiate, or has initiated, foreclosure proceedings, and when the repayment of a loan is expected to be substantially dependent upon the liquidation of the underlying collateral, the loan relationship is considered to be collateral dependent. Fair value of the loan is determined by establishing an allowance for credit loss for any exposure based on the valuation of the underlying collateral. The valuation of the collateral is determined by either an independent third-party appraisal or other collateral analysis. Discounts can be made by the Company based upon the overall evaluation of the independent appraisal. Collateral-dependent loans are classified within Level 3 of the fair value hierarchy due to the unobservable inputs used in determining their fair value such as collateral values and the borrower’s underlying financial condition. Collateral values supporting the individually assessed loans are evaluated quarterly for updates to appraised values or adjustments due to non-current valuations. The Company reversed $ 450,000 and $ 471,000 of accrued interest receivable when impaired loans were put on non-accrual status during the three months ended June 30, 2026 and 2025, respectively. The Company reversed $ 2.8 million and $ 1.3 million of accrued interest receivable when impaired loans were put on non-accrual status during the six months ended June 30, 2026 and 2025, respectively. Foreclosed assets held for sale – Foreclosed assets held for sale are the only material non-financial assets valued on a non-recurring basis which are held by the Company at fair value, less estimated costs to sell. At foreclosure, if the fair value, less estimated costs to sell, of the real estate acquired is less than the Company’s recorded investment in the related loan, a write-down is recognized through a charge to the allowance for credit losses. Additionally, valuations are periodically performed by management and any subsequent reduction in value is recognized by a charge to income. Regulatory guidelines require the Company to reevaluate the fair value of foreclosed assets held for sale on at least an annual basis. The Company’s policy is to comply with the regulatory guidelines. 52 Table of Contents The following table presents the Company's assets by level within the fair value hierarchy that were measured at fair value on a nonrecurring basis during the periods ended June 30, 2026 and December 31, 2025 (in thousands): Fair Value Measurements Fair Value Level 1 Level 2 Level 3 June 30, 2026 (in thousands) Individually evaluated loans (collateral-dependent) (1)(2) $ 197,198 $ — $ — $ 197,198 December 31, 2025 Individually evaluated loans (collateral-dependent) (1)(2) $ 186,484 $ — $ — $ 186,484 (1) These amounts represent the resulting carrying amounts on the consolidated balance sheets for collateral-dependent loans and foreclosed assets and other real estate owned for which fair value re-measurements took place during the period. (2) Specific reserves of $ 18.4 million and $ 17.0 million were related to collateral-dependent loans for which fair value re-measurements took place during the periods ended June 30, 2026 and December 31, 2025, respectively. The significant unobservable (Level 3) inputs used in the fair value measurement of collateral for collateral-dependent impaired loans and foreclosed assets primarily relate to customized discounting criteria applied to the customer’s reported amount of collateral. The amount of the collateral discount depends upon the condition and marketability of the underlying collateral. As the Company’s primary objective in the event of default would be to monetize the collateral to settle the outstanding balance of the loan, less marketable collateral would receive a larger discount. During the reported periods, collateral discounts ranged from approximately 10 % to 60 %. The following methods and assumptions were used to estimate the fair value of each class of financial instruments not previously disclosed: Cash and cash equivalents and federal funds sold – For these short-term instruments, the carrying amount is a reasonable estimate of fair value. Investment securities - held-to-maturity securities – These securities consist primarily of U.S. government-sponsored enterprises, mortgage-backed securities plus state and political subdivisions. For these securities, the Company obtains fair value measurements from an independent pricing service. The fair value measurements consider observable data that may include dealer quotes, market spreads, cash flows, the U.S. Treasury yield curve, live trading levels, trade execution data, market consensus prepayment speeds, credit information and the bond’s terms and conditions, among other things. Loans receivable, net of impaired loans and allowance – For variable-rate loans that reprice frequently and with no significant change in credit risk, fair values are assumed to approximate the carrying amounts. The fair values for fixed-rate loans are estimated using discounted cash flow analysis, based on interest rates currently being offered for loans with similar terms to borrowers of similar credit quality. Loan fair value estimates include judgments regarding future expected loss experience and risk characteristics. Fair values for acquired loans are based on a discounted cash flow methodology that considers factors including the type of loan and related collateral, classification status, fixed or variable interest rate, term of loan, current discount rates and whether or not the loan is amortizing. Loans are grouped together according to similar characteristics and are treated in the aggregate when applying various valuation techniques. The discount rates used for loans are based on current market rates for new originations of comparable loans and include adjustments for liquidity concerns. The discount rate does not include a factor for credit losses as that has been included in the estimated cash flows. Accrued interest receivable and payable – The carrying amounts of accrued interest approximates fair value. FHLB, FRB & FNBB stock; other equity investments; marketable equity securities – The carrying amount of these investments approximate fair value. Deposits and securities sold under agreements to repurchase – The fair values of demand deposits, savings deposits and securities sold under agreements to repurchase are, by definition, equal to the amount payable on demand and, therefore, approximate their carrying amounts. The fair values for time deposits are estimated using a discounted cash flow calculation that utilizes interest rates currently being offered on time deposits with similar contractual maturities. FHLB and other borrowed funds – For short-term instruments, the carrying amount is a reasonable estimate of fair value. The fair value of long-term debt is estimated based on the current rates available to the Company for debt with similar terms and remaining maturities. 53 Table of Contents Subordinated debentures – The fair value of subordinated debentures is estimated using the rates that would be charged for subordinated debentures of similar remaining maturities. Commitments to extend credit, letters of credit and lines of credit – The fair value of commitments is estimated using the fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreements and the present creditworthiness of the counterparties. For fixed-rate loan commitments, fair value also considers the difference between current levels of interest rates and the committed rates. The fair values of letters of credit and lines of credit are based on fees currently charged for similar agreements or on the estimated cost to terminate or otherwise settle the obligations with the counterparties at the reporting date. The fair value of these commitments is not material and are therefore, omitted from this disclosure. The following table presents the estimated fair values of the Company’s financial instruments. Fair value is the exchange price that would be received for an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. June 30, 2026 Fair Value Measurements Carrying Amount Level 1 Level 2 Level 3 Total (In thousands) Financial assets: Cash and cash equivalents $ 1,052,519 $ 1,052,519 $ — $ — $ 1,052,519 Federal funds sold 5,450 5,450 — — 5,450 Investment securities - held-to-maturity 1,254,802 27,217 1,121,610 — 1,148,827 Loans receivable, net of impaired loans and allowance 16,593,768 — — 16,515,955 16,515,955 Accrued interest receivable 108,384 108,384 — — 108,384 FHLB, Federal Reserve & FNBB stock; other equity investments 232,353 — — 232,353 232,353 Marketable equity securities 51,490 51,490 — — 51,490 Financial liabilities: Deposits: Demand and non-interest bearing $ 4,447,710 $ 4,447,710 $ — $ — $ 4,447,710 Savings and interest-bearing transaction accounts 12,423,361 12,423,361 — — 12,423,361 Time deposits 2,242,034 — — 2,221,178 2,221,178 Securities sold under agreements to repurchase 158,744 158,744 — — 158,744 FHLB and other borrowed funds 450,250 — 417,768 — 417,768 Accrued interest payable 15,244 15,244 — — 15,244 Subordinated debentures 279,602 — — 270,177 270,177 54 Table of Contents December 31, 2025 Fair Value Measurements Carrying Amount Level 1 Level 2 Level 3 Total (In thousands) Financial assets: Cash and cash equivalents $ 667,337 $ 667,337 $ — $ — $ 667,337 Federal funds sold 3,000 3,000 — — 3,000 Investment securities - held-to-maturity 1,259,262 27,457 1,133,595 — 1,161,052 Loans receivable, net of impaired loans and allowance 15,186,203 — — 15,205,769 15,205,769 Accrued interest receivable 108,939 108,939 — — 108,939 FHLB, Federal Reserve & FNBB stock; other equity investments 225,288 — — 225,288 225,288 Marketable equity securities 53,921 53,921 — — 53,921 Financial liabilities: Deposits: Demand and non-interest bearing $ 3,868,405 $ 3,868,405 $ — $ — $ 3,868,405 Savings and interest-bearing transaction accounts 11,792,828 11,792,828 — — 11,792,828 Time deposits 1,818,724 — — 1,807,002 1,807,002 Securities sold under agreements to repurchase 155,803 155,803 — — 155,803 FHLB and other borrowed funds 500,250 — 474,663 — 474,663 Accrued interest payable 14,868 14,868 — — 14,868 Subordinated debentures 279,265 — — 265,170 265,170 21. Segment Information The Company has one reportable segment: The Banking Segment. The Company's reportable segment is determined by the Chairman and Chief Executive Officer, who is the designated chief operating decision maker ("CODM"), based upon information provided about the Company's products and services offered, primarily banking operations. The segment is also defined by the level of detailed information provided to the CODM, who uses such information to review performance of various components of the business such as geographical regions and branches, which are then aggregated since these have similar operating and economic characteristics. Each of the branches and regions of the Bank provide a group of similar banking services, including such products and services as commercial, real estate and consumer loans, time deposits, checking and savings accounts. The CODM will evaluate the financial performance of the Company's business components such as evaluating revenue streams, significant expenses and budget to actual results in order to assess the Company's segment and to determine the allocation of resources. The CODM uses revenue streams to evaluate product pricing and significant expenses to assess performance and evaluate return on assets. The CODM uses consolidated net income in order to benchmark the Company against its competitors. The benchmarking analysis coupled with monitoring of budget to actual results are used in assessment performance and in establishing compensation. Loans, investments and deposits provide the revenues in the banking operation. Interest expense, provision for credit losses and payroll provide the significant expenses in the banking operation. All operations are domestic. Accounting policies for segments are the same as those described in Note 1. Segment performance is evaluated using consolidated net income. The table below presents the information reported internally for performance assessment by the CODM as of the three and six months ended June 30, 2026 and 2025. 55 Table of Contents Three Months Ended June 30, Six Months Ended June 30, Banking Segment 2026 2025 2026 2025 (In thousands) Interest Income $ 336,836 $ 319,115 $ 647,859 $ 631,657 Reconciliation of revenue: Other Revenues* 53,454 51,079 96,257 96,505 Total consolidated revenues $ 390,290 $ 370,194 $ 744,116 $ 728,162 Less: Interest Expense 95,193 99,163 182,312 197,049 Segment net interest income and noninterest income $ 295,097 $ 271,031 $ 561,804 $ 531,113 Less: Credit loss expense 5,200 3,000 5,700 3,000 Salaries and employee benefits 68,742 64,318 131,978 126,173 Occupancy and equipment** 15,787 14,023 30,654 28,448 Data processing expense 9,307 8,364 18,191 16,922 Merger and acquisition expense 12,726 — 13,120 — Other expense 10,261 12,496 21,326 21,199 FDIC and state assessment 3,045 1,636 4,644 5,023 Electronic banking expense 3,223 3,172 6,549 6,227 Other segment items*** 12,403 12,031 23,007 24,976 Income tax expense 35,076 33,588 69,099 65,533 Segment net income/consolidated net income 119,327 118,403 237,536 233,612 Reconciliation of profit or loss: Adjustments and reconciling items — — — — Consolidated net income $ 119,327 $ 118,403 $ 237,536 $ 233,612 *Includes earnings in equity method investments of $ 4.0 million and $ 4.3 million for the three months ended June 30, 2026 and 2025, respectively, and $ 5,526,160 and $ 9,445,436 for the six months ended June 30, 2026 and 2025, respectively. ** Includes depreciation and amortization expense of $ 5.4 million and $ 5.2 million for the three-month periods ended June 30, 2026 and 2025, respectively, and $ 10,794,655 and $ 10,529,515 for the six months ended June 30, 2026 and 2025, respectively. ***Other segment items include expenses for advertising, amortization of intangibles, directors' fees, due from bank service charges, insurance expense, legal and accounting fees, other professional fees, operating supplies, postage and telephone. 56 Table of Contents 22. Recent Accounting Pronouncements Recently Adopted Accounting Standards Effective December 31, 2025, the Company adopted ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures . The amendments require enhanced annual income tax disclosures, including additional disaggregation of income tax rate reconciliation items and income taxes paid. The guidance was applied prospectively beginning with the Company's 2025 Annual Report on Form 10-K. The adoption did not have a material impact on the Company's financial position, results of operations, or cash flows and primarily affected annual income tax disclosures. Effective April 1, 2026, the Company early adopted ASU 2025‑08, Financial Instruments—Credit Losses (Topic 326): Purchased Loans . The amendments expand the gross-up approach under ASC 326 to certain acquired loans classified as purchased seasoned loans. Under the amended guidance, an allowance for credit losses is established at the acquisition date with a corresponding adjustment to the amortized cost basis of qualifying acquired loans. The amendments were applied prospectively to loans acquired on or after the adoption date, and prior-period amounts were not adjusted. The adoption impacted the accounting for loans acquired in the Mountain Commerce Bank acquisition and did not result in a cumulative-effect adjustment to retained earnings. Accounting Standards Not Yet Adopted In November 2024, the FASB issued ASU No. 2024-03, "Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses." The ASU requires footnote disclosure about specific expenses by requiring companies to disaggregate, in a tabular presentation, each relevant expense caption on the face of the income statement that includes any of the following natural expenses: (i) purchases of inventory, (ii) employee compensation, (iii) depreciation, (iv) intangible asset amortization and (v) depreciation, depletion and amortization recognized as part of oil- and gas-producing activities. The tabular disclosure would also include certain other expenses, when applicable. The ASU does not change or remove existing expense disclosure requirements; however, it may affect where that information appears in the footnotes to the financial statements. The ASU is effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027, with early adoption permitted. The Company is currently evaluating the potential impacts related to the adoption of the ASU. In January 2025, the FASB issued ASU No. 2025-01, "Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures (Subtopic 220-40): Clarifying the Effective Date." The ASU revises the effective date to clarify that all public business entities are required to adopt the guidance in the annual reporting periods beginning after December 15, 2026, and interim periods within annual reporting periods beginning after December 15, 2027. Entities within the ASU's scope are permitted to early adopt the ASU. The Company is currently evaluating the potential impacts related to the adoption of the ASU. In December 2025, the FASB issued ASU 2025‑11, " Interim Reporting (Topic 270): Narrow‑Scope Improvements." The ASU clarifies the scope, form, content, and disclosure requirements applicable to interim financial statements prepared in accordance with U.S. generally accepted accounting principles (“GAAP”). The amendments are intended to improve the navigability of Topic 270 and clarify existing guidance without changing the fundamental nature of interim reporting or significantly expanding or reducing current interim disclosure requirements. The ASU confirms that interim financial statement form and content continue to be governed by applicable SEC rules (including Regulation S‑X, Rule 10‑01, as applicable), while enhancing Topic 270 by consolidating interim disclosure requirements from other Codification Topics and introducing a disclosure principle requiring registrants to disclose material events or changes occurring since the end of the most recent annual reporting period. ASU 2025‑11 is effective for interim reporting periods within fiscal years beginning after December 15, 2027, with early adoption permitted. The Company is currently evaluating the impact of adoption on its interim financial statement disclosures. 57 Table of Contents Report of Independent Registered Public Accounting Firm Audit Committee, Board of Directors and Stockholders Home BancShares, Inc. Results of Review of Interim Consolidated Financial Statements We have reviewed the condensed consolidated balance sheet of Home BancShares Inc. (“the Company”) and subsidiaries as of June 30, 2026, and the related condensed consolidated statements of income, comprehensive income, stockholders’ equity for the three-month and six-month periods ended June 30, 2026 and 2025, and cash flows for the six-month periods ended June 30, 2026 and 2025, and the related notes (collectively referred to as the “interim financial information”). Based on our reviews, we are not aware of any material modifications that should be made to the interim financial information referred to above for it to be in conformity with accounting principles generally accepted in the United States of America. We have previously audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (“PCAOB”), the consolidated balance sheet of the Company and subsidiaries as of December 31, 2025, and the related consolidated statements of income, comprehensive income, stockholders’ equity, and cash flows for the year then ended (not presented herein), and in our report dated February 27, 2026, we expressed an unqualified opinion on those consolidated financial statements. In our opinion, the information set forth in the accompanying condensed consolidated balance sheet as of December 31, 2025 is fairly stated, in all material respects, in relation to the consolidated balance sheet from which it has been derived. Basis for Review Results This interim financial information is the responsibility of the Company’s management. We are a public accounting firm registered with the PCAOB and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB. We conducted our review in accordance with the standards of the PCAOB. A review of interim financial information consists principally of applying analytical procedures and making inquiries of persons responsible for financial and accounting matters. It is substantially less in scope than an audit conducted in accordance with the standards of the PCAOB, the objective of which is the expression of an opinion regarding the financial statements taken as a whole. Accordingly, we do not express such an opinion. /s/ Forvis Mazars, LLP Little Rock, Arkansas August 7, 2026 58 Table of Contents Item 2: MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS The following discussion should be read in conjunction with our Form 10-K, filed with the Securities and Exchange Commission on February 27, 2026, which includes the audited financial statements for the year ended December 31, 2025. Unless the context requires otherwise, the terms "Company," "us," "we," and "our" refer to Home BancShares, Inc. on a consolidated basis. General We are a bank holding company headquartered in Conway, Arkansas, offering a broad array of financial services through our wholly-owned bank subsidiary, Centennial Bank (sometimes referred to as "Centennial" or the "Bank"). As of June 30, 2026, we had, on a consolidated basis, total assets of $24.71 billion, loans receivable, net of allowance for credit losses, of $16.80 billion, total deposits of $19.11 billion, and stockholders’ equity of $4.55 billion. We generate the majority of our revenue from interest on loans and investments, service charges, and mortgage banking income. Deposits and Federal Home Loan Bank ("FHLB") and other borrowed funds are our primary sources of funding. Our largest expenses are interest on our funding sources, salaries and related employee benefits and occupancy and equipment. We measure our performance by calculating our return on average common equity, return on average assets and net interest margin. We also measure our performance by our efficiency ratio, which is calculated by dividing non-interest expense less amortization of core deposit intangibles by the sum of net interest income on a tax equivalent basis and non-interest income. The efficiency ratio, as adjusted, is a non-GAAP measure and is calculated by dividing non-interest expense less amortization of core deposit intangibles by the sum of net interest income on a tax equivalent basis and non-interest income excluding adjustments such as merger and acquisition expenses and/or certain gains, losses and other non-interest income and expenses. Table 1: Key Financial Measures As of or for the Three Months Ended June 30, As of or for the Six Months Ended June 30, 2026 2025 2026 2025 (Dollars in thousands, except per share data) Total assets $ 24,713,248 $ 22,907,022 $ 24,713,248 $ 22,907,022 Loans receivable 17,127,208 15,180,624 17,127,208 15,180,624 Allowance for credit losses (328,369) (281,869) (328,369) (281,869) Total deposits 19,113,105 17,488,432 19,113,105 17,488,432 Total stockholders’ equity 4,547,435 4,085,316 4,547,435 4,085,316 Net income 119,327 118,403 237,536 233,612 Basic earnings per share 0.59 0.60 1.19 1.18 Diluted earnings per share 0.59 0.60 1.19 1.18 Book value per share 22.68 20.71 22.68 20.71 Tangible book value per share (non-GAAP) (1) 15.32 13.44 15.32 13.44 Annualized net interest margin - FTE 4.51% 4.44% 4.51% 4.44% Efficiency ratio 44.54 41.68 43.14 41.94 Efficiency ratio, as adjusted (non-GAAP) (2) 40.46 42.01 41.19 42.42 Return on average assets 1.95 2.08 2.02 2.08 Return on average common equity 10.55 11.77 10.78 11.76 (1) See Table 25 for the non-GAAP tabular reconciliation. (2) See Table 29 for the non-GAAP tabular reconciliation. 59 Table of Contents Overview Results of Operations for the Three Months Ended June 30, 2026 and 2025 Our net income increased $924,000, or 0.8%, to $119.3 million for the three-month period ended June 30, 2026, from $118.4 million for the same period in 2025. On a diluted earnings per share basis, our earnings were $0.59 per share for the three-month period ended June 30, 2026 compared to $0.60 per share for the three-month period ended June 30, 2025. During the three months ended June 30, 2026, the Company recorded $5.2 million in provision for credit losses on loans. Also, during the three months ended June 30, 2026, the Company recorded $274,000 in BOLI death benefit income, $817,000 in income from the fair value adjustment for marketable securities and $12.7 million in merger and acquisition expense due to the completion of the previously announced acquisition of Mountain Commerce Bancorp, Inc ("MCBI") during the second quarter of 2026. The merger and acquisition expense reduced earnings per share by $0.05 per share for the three-month period ended June 30, 2026. Total interest income increased $17.7 million, or 5.6%, total interest expense decreased $4.0 million, or 4.0% and non-interest income increased $2.4 million, or 4.6%. This was partially offset by a $19.5 million, or 16.8%, increase in non-interest expense. The increase in interest income resulted from a $22.0 million, or 8.0%, increase in loan interest income, which was partially offset by a $3.8 million, or 42.6%, decrease in interest income on deposits at other banks and a $472,000, or 1.4%, decrease in investment interest income. The decrease in interest expense was primarily due to a $1.8 million, or 42.8%, decrease in interest on subordinated debentures, a $1.2 million, or 21.5%, decrease in interest on FHLB and other borrowed funds and a $1.1 million, or 1.2%, decrease in interest on deposits. The increase in non-interest income was primarily due to a $1.1 million, or 443.3%, increase in the fair value adjustment for marketable securities, an $875,000, or 16.7%, increase in trust fees, a $478,000, or 5.0%, increase in service charges on deposit accounts, a $330,000, or 2.6%, increase in other service charges and fees and a $319,000, or 2,453.8%, increase in gain (loss) on OREO, which was partially offset by a $969,000, or 99.7%, decrease in gain (loss) on sale of branches, equipment and other assets and a $383,000, or 2.8%, decrease in other income. The increase in non-interest expense was primarily due to the $12.7 million increase in merger and acquisition expense as a result of the acquisition of MCBI, a $4.4 million, or 6.9%, increase in salaries and employee benefits expense, $1.8 million, or 12.6%, increase in occupancy and equipment expense and a $943,000, or 11.3%, increase in data processing expense. These expenses were partially offset by a $403,000, or 1.4%, decrease in other operating expenses. Our net interest margin increased from 4.44% for the three-month period ended June 30, 2025 to 4.51% for the three-month period ended June 30, 2026. The yield on interest earning assets decreased from 6.42% for the three months ended June 30, 2025 to 6.26% for the three months ended June 30, 2026, and average interest earning assets increased from $20.08 billion to $21.74 billion. The increase in average interest earning assets is primarily due to a $2.03 billion increase in average loans receivable, partially offset by a $258.6 million decrease in average interest bearing balances due from banks and a $106.9 million decrease in average investment securities. For the three months ended June 30, 2026 and 2025, we recognized $3.6 million and $1.2 million, respectively, in total net accretion for acquired loans and deposits, and average purchase accounting loan discounts were $42.0 million and $16.2 million for the three months ended June 30, 2026 and 2025, respectively. The increase in accretion income along with the increase in the purchase accounting loan discounts, both of which resulted from the acquisition of Mountain Commerce, increased the net interest margin by five basis points for the three-month period ended June 30, 2026. We recognized $1.7 million in event income for the three months ended June 30, 2026 compared to $516,000 for the three months ended June 30, 2025. The increase in event income was accretive to the net interest margin by three basis points. The cost of interest bearing liabilities decreased from 2.73% for the three months ended June 30, 2025 to 2.45% for the three months ended June 30, 2026, and average interest-bearing liabilities increased from $14.58 billion to $15.61 billion. The increase in average interest-bearing liabilities is primarily due to a $1.27 billion increase in average interest-bearing deposits, which was partially offset by a $159.5 million decrease in average subordinated debentures and a $100.3 million decrease in FHLB and other borrowed funds. The reduction in subordinated debentures was due to the Company completing the payoff of its $140.0 million 5.50% Fixed-to-Floating Rate Subordinated Notes due 2030 and the Company also repurchasing $20.0 million of its $300.0 million Fixed-to-Floating Rate Subordinated Notes due 2032 during the third quarter of 2025. The two payoff events were accretive to the net interest margin by approximately four basis points. The overall increase in the net interest margin was due to an increase in interest income resulting from the increase in the average balance of interest-earning assets and a decrease in interest expense resulting from a decrease in interest rates paid on interest-bearing liabilities, which were partially offset by a decrease in interest income due to a reduction in asset yields and an increase in interest expense resulting from an increase in the average balance of interest-bearing liabilities. Our efficiency ratio was 44.54% for the three months ended June 30, 2026, compared to 41.68% for the same period in 2025. For the three months ended June 30, 2026, our efficiency ratio, as adjusted (non-GAAP), was 40.46%, compared to 42.01% reported for the same period in 2025. (See Table 29 for the non-GAAP tabular reconciliation). 60 Table of Contents Our annualized return on average assets was 1.95% for the three months ended June 30, 2026, compared to 2.08% for the same period in 2025. (See Table 26 for the related non-GAAP financial measures and tabular reconciliation). Our annualized return on average common equity was 10.55% and 11.77% for the three months ended June 30, 2026, and 2025, respectively. (See Table 27 for the related non-GAAP financial measures and tabular reconciliation). Results of Operations for the Six Months Ended June 30, 2026 and 2025 Our net income increased $3.9 million, or 1.7%, to $237.5 million for the six-month period ended June 30, 2026, from $233.6 million for the same period in 2025. On a diluted earnings per share basis, our earnings were $1.19 per share for the six-month period ended June 30, 2026 compared to $1.18 per share for the six-month period ended June 30, 2025. During the six months ended June 30, 2026, the Company recorded $6.7 million in provision for credit losses on loans, and the Company recorded a $1.0 million recovery of credit losses on unfunded commitments. As a result, total credit loss expense for the six-month period ended June 30, 2026 was $5.7 million. During the six months ended June 30, 2026, the Company recorded $1.7 million in income from an FDIC special assessment credit, $274,000 in BOLI death benefits, $431,000 in expense from the fair value adjustment for marketable securities and $13.1 million in merger and acquisition expense due to the completion of the previously announced acquisition of MCBI during the second quarter of 2026. The merger and acquisition expense reduced earnings per share by $0.05 per share for the six-month period ended June 30, 2026. Total interest income increased $16.2 million, or 2.6%, interest expense decreased $14.7 million, or 7.5%. This was partially offset by a $20.5 million, or 9.0%, increase in non-interest expense and a $248,000, or 0.3%, decrease in non-interest income. The increase in interest income resulted from a $24.7 million, or 4.5%, increase in loan interest income which was partially offset by a $5.5 million, or 35.3%, decrease in interest income on deposits at other banks and a $3.0 million, or 4.3%, decrease in investment interest income. The decrease in interest expense was primarily due to a $8.7 million, or 5.0%, decrease in interest on deposits, a $3.5 million, or 42.9%, decrease in interest on subordinated debentures, and a $2.4 million, or 21.0%, decrease in interest on FHLB and other borrowed funds. The decrease in non-interest income was primarily due to a $2.7 million, or 10.9%, decrease in other income, an $813,000, or 100.5%, decrease in gain (loss) on sale of branches, equipment and other assets, a $635,000, or 311.3%, decrease in the fair value adjustment for marketable securities and a $549,000, or 2.4%, decrease in other service charges and fees, which was partially offset by a $1.6 million, or 16.0%, increase in trust fees, a $1.4 million, or 386.2%, increase in gain (loss) on OREO and a $1.2 million, or 14.2%, increase in mortgage lending income. Included within June 30, 2025 other income was $7.4 million in special income from equity investments, $885,000 in legal expense reimbursements and $1.2 million in BOLI death benefit income. The increase in non-interest expense was primarily due to the $13.1 million increase in merger and acquisition expense as a result of the acquisition of MCBI, a $5.8 million, or 4.6%, increase in salaries and employee benefits expense, $2.2 million, or 7.8%, increase in occupancy and equipment expense and a $1.3 million, or 7.5%, increase in data processing expense. These expenses were partially offset by a $1.9 million, or 3.3%, decrease in other operating expenses. Included within other operating expenses was the $1.7 million in FDIC special assessment credits recorded during the first quarter of 2026. Our net interest margin increased from 4.44% for the six-month period ended June 30, 2025 to 4.51% for the six-month period ended June 30, 2026. The yield on interest earning assets decreased from 6.43% for the six-months ended June 30, 2025 to 6.26% for the six-months ended June 30, 2026, and average interest earning assets increased from $19.96 billion to $21.05 billion. The increase in average interest earning assets is primarily due to a $1.41 billion increase in average loans receivable, partially offset by a $157.1 million decrease in average interest-bearing balances due from banks and a $155.0 million decrease in average investment securities. For the six months ended June 30, 2026 and 2025, we recognized $4.7 million and $2.6 million, respectively, in total net accretion for acquired loans and deposits and average purchase accounting loan discounts were $27.3 million and $16.9 million for the six months ended June 30, 2026 and 2025, respectively. The increase in accretion income along with the increase in the purchase accounting loan discounts, both of which resulted from the acquisition of Mountain Commerce, increased the net interest margin by two basis points for the six-month period ended June 30, 2026. We recognized $1.7 million in event income for the six-months ended June 30, 2026 compared to $1.8 million for the six-months ended June 30, 2025. The cost of interest bearing liabilities decreased from 2.74% for the six-months ended June 30, 2025 to 2.43% for the six-months ended June 30, 2026, and average interest-bearing liabilities increased from $14.49 billion to $15.10 billion. The increase in average interest bearing liabilities is primarily due to a $865.5 million increase in average interest-bearing deposits, which was partially offset by a $159.7 million decrease in average subordinated debentures and a $100.3 million decrease in FHLB and other borrowed funds. The reduction in subordinated debentures was due to the Company completing the payoff of its $140.0 million 5.50% Fixed-to-Floating Rate Subordinated Notes due 2030 and the Company also repurchasing $20.0 million of its $300.0 million Fixed-to-Floating Rate Subordinated Notes due 2032 during the third quarter of 2025. The two payoff events were accretive to the net interest margin by approximately four basis points. The overall increase in the net interest margin was due to an increase in interest income resulting from the increase in the average balance of interest-earning assets and a decrease in interest expense resulting from a decrease in interest rates paid on interest-bearing liabilities, which were partially offset by a decrease in interest income due to a reduction in asset yields and an increase in interest expense resulting from an increase in the average balance of interest-bearing liabilities. 61 Table of Contents Our efficiency ratio was 43.14% for the six months ended June 30, 2026, compared to 41.94% for the same period in 2025. For the six months ended June 30, 2026, our efficiency ratio, as adjusted (non-GAAP), was 41.19%, compared to 42.42% reported for the same period in 2025. (See Table 29 for the non-GAAP tabular reconciliation). Our annualized return on average assets was 2.02% for the six months ended June 30, 2026, compared to 2.08% for the same period in 2025. (See Table 26 for the related non-GAAP financial measures and tabular reconciliation). Our annualized return on average common equity was 10.78% and 11.76% for the six months ended June 30, 2026, and 2025, respectively. (See Table 27 for the related non-GAAP financial measures and tabular reconciliation). Financial Condition as of and for the Period Ended June 30, 2026 and December 31, 2025 Our total assets, as of June 30, 2026, increased $1.83 billion to $24.71 billion from $22.88 billion reported as of December 31, 2025. The increase in total assets is primarily due to the acquisition of $1.77 billion in total assets, net of purchase accounting adjustments, from MCBI during the second quarter of 2026. Cash and cash equivalents increased $385.2 million for the six months ended June 30, 2026. Our loan portfolio balance increased to $17.13 billion, as of June 30, 2026, from $15.69 billion at December 31, 2025. The increase in loans was primarily due to the acquisition of $1.47 billion in loans, net of purchase accounting adjustments, from MCBI during the second quarter of 2026 and $25.3 million of organic loan growth from our Centennial Commercial Finance Group ("Centennial CFG") franchise , which was partially offset by $54.1 million of loan decline in our community banking footprint. Investment securities decreased by $100.2 million resulting from paydowns and maturities during the first six months of 2026. Total deposits increased $1.63 billion to $19.11 billion as of June 30, 2026 from $17.48 billion as of December 31, 2025. The increase in deposits was primarily due to the acquisition of $1.54 billion in deposits, net of purchase accounting adjustments, from MCBI during the second quarter of 2026. Stockholders’ equity increased $250.6 million to $4.55 billion as of June 30, 2026, compared to $4.30 billion as of December 31, 2025. The $250.6 million increase in stockholders’ equity is primarily associated with the $146.0 million in common stock issued to MCBI shareholders for the acquisition of MCBI on April 1, 2026 and the $237.5 million in net income for the six months ended June 30, 2026, partially offset by the $83.5 million in shareholder dividends paid, stock repurchases of $54.7 million and $3.1 million in other comprehensive loss. Our non-performing loans were $185.3 million, or 1.08% of total loans as of June 30, 2026, compared to $85.0 million, or 0.54% of total loans, as of December 31, 2025. The allowance for credit losses as a percentage of non-performing loans decreased to 177.19% as of June 30, 2026, from 350.17% as of December 31, 2025. As of June 30, 2026, our non-performing assets increased to $228.6 million, or 0.93% of total assets, from $124.8 million, or 0.55% of total assets, as of December 31, 2025. The increase in non-performing loans and assets was primarily due to one loan relationship with a balance of $92.1 million being placed on non-accrual status during the quarter ended March 31, 2026. Critical Accounting Estimates Overview. We prepare our consolidated financial statements based on the selection of certain accounting policies, generally accepted accounting principles and customary practices in the banking industry. These policies, in certain areas, require us to make significant estimates and assumptions. Our accounting policies are described in detail in Note 1 to our consolidated financial statements included as part of this document. We consider an accounting estimate to be critical if (i) the accounting estimate requires assumptions about matters that are highly uncertain at the time of the accounting estimate; and (ii) different estimates that could reasonably have been used in the current period, or changes in the accounting estimate that are reasonably likely to occur from period to period, would have a material impact on our financial statements. Management has identified the following accounting estimates as the most critical to the understanding of the Company's financial statements. Allowance for Credit Losses . We account for credit losses in accordance with ASU 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments ("ASC 326" or "CECL"). The allowance for credit losses ("ACL") represents management's estimate of expected credit losses within the Company's loan portfolio and certain off-balance sheet credit exposures. The ACL is inherently subjective because it requires management to make significant assumptions regarding future economic conditions, borrower performance, collateral values, and other factors that may impact collectability. For originated and other non-purchased loans, expected credit losses are estimated using a discounted cash flow ("DCF") methodology. The DCF model incorporates assumptions regarding probability of default, loss given default, prepayment speeds, curtailment rates, recovery expectations, and the timing of expected cash flows. The estimate also incorporates reasonable and supportable forecasts of economic conditions, including unemployment rates, gross domestic product, retail sales activity, and the FHFA housing price index. 62 Table of Contents Management currently utilizes a four-quarter reasonable and supportable forecast period followed by a four-quarter straight-line reversion to historical loss experience. Changes in economic forecasts, portfolio composition, credit quality trends, collateral values, or other assumptions could result in material changes to the ACL and provision for credit losses. The ACL is particularly sensitive to changes in economic forecasts, portfolio risk characteristics, collateral values, and qualitative adjustments. Management regularly evaluates the appropriateness of model assumptions, forecast inputs, and qualitative adjustments in light of changing economic conditions and portfolio performance. Differences between actual economic conditions and forecasted conditions, changes in borrower credit quality, or changes in collateral values may result in material changes to expected credit losses and future provision expense. Management also applies qualitative adjustments to address risks not fully captured within the quantitative modeling process. These adjustments may consider changes in lending policies and procedures, portfolio concentrations, delinquency trends, classified assets, collateral values, regulatory factors, and broader economic conditions. Determining the nature and magnitude of these adjustments requires significant management judgment. The Company also maintains an allowance for credit losses on off-balance sheet credit exposures, including unfunded loan commitments and other contractual obligations to extend credit that are not unconditionally cancellable. The estimate incorporates management's expectations regarding the likelihood that commitments will be funded, the expected timing of funding, and the expected credit losses associated with amounts anticipated to be funded. Changes in utilization assumptions, borrower credit quality, portfolio composition, or economic conditions may result in material changes to the reserve for off-balance sheet credit exposures. Certain loans are evaluated individually, including collateral-dependent loans for which repayment is expected substantially through the operation or sale of collateral. For these loans, estimates regarding collateral values, selling costs, and expected cash flows may have a significant impact on the measurement of expected credit losses. Acquisition Accounting and Acquired Loans. Business combinations are accounted for under ASC 805, Business Combinations . Assets acquired and liabilities assumed are recorded at their estimated fair values as of the acquisition date. Determining these fair values requires significant judgment regarding expected future cash flows, discount rates, prepayment assumptions, expected credit losses, and other market participant assumptions. Acquired loans are evaluated to determine whether they are classified as purchased credit deteriorated ("PCD") loans or purchased seasoned loans ("PSLs"). The classification of acquired loans and the determination of their acquisition-date fair values require management to assess expected credit performance, future cash flows, economic conditions, and borrower-specific characteristics. Under ASC 326, an allowance for credit losses is recognized at acquisition for PCD loans. Following the Company's adoption of ASU 2025-08 effective April 1, 2026, qualifying PSLs are also accounted for using the gross-up approach, whereby an allowance for credit losses is established as of the acquisition date and added to the purchase price to establish the loans' initial amortized cost basis. While originated and other non-purchased loans are evaluated using a DCF methodology, qualifying PSLs are measured using an expected loss methodology based on unpaid principal balance in accordance with ASC 326 and ASU 2025-08. Management's estimates of expected losses on acquired loan portfolios are influenced by assumptions regarding borrower performance, expected cash flows, economic conditions, and collateral values. Changes in these assumptions may materially affect the allowance for credit losses and future operating results. Because acquisition-date estimates establish the basis for future yield accretion, credit loss estimates, and amortization patterns, changes in assumptions may affect future net interest income, provision expense, and operating results. Goodwill and Other Intangible Assets. The Company records goodwill and core deposit intangible assets in connection with business combinations. Goodwill is not amortized but is evaluated for impairment at least annually, or more frequently if events or circumstances indicate that impairment may exist. The goodwill impairment analysis requires management to estimate the fair value of the reporting unit. Significant assumptions may include projected earnings, growth rates, market multiples, discount rates, and other factors affecting future operating performance and market valuations. Changes in economic conditions, interest rates, industry conditions, market valuations, or operating performance could affect these assumptions and potentially result in impairment charges. Core deposit intangible assets are amortized over their estimated useful lives and evaluated for impairment annually or more often when events or changes in circumstances indicate that their carrying amounts may not be recoverable. 63 Table of Contents Income Taxes. The Company accounts for income taxes under ASC 740, Income Taxes . Determining the provision for income taxes and related deferred tax assets and liabilities requires management to make estimates and judgments regarding future taxable income, tax planning strategies, the interpretation and application of tax laws, and the ultimate resolution of tax positions. Deferred tax assets are evaluated each reporting period to determine whether it is more likely than not that the related tax benefits will be realized. This assessment requires significant judgment regarding future earnings, the timing and character of taxable income, available tax planning strategies, and other sources of taxable income. The Company also evaluates uncertain tax positions and estimates potential exposures associated with tax matters. Changes in tax laws, regulatory interpretations, future operating results, or other factors affecting the realization of deferred tax assets or the recognition of tax benefits could result in adjustments to income tax expense and deferred tax balances in future periods. Foreclosed Assets Held for Sale . Foreclosed assets held for sale are initially recorded at fair value less estimated selling costs and are subsequently carried at the lower of carrying value or fair value less estimated selling costs. Fair value estimates generally rely on independent appraisals, broker opinions, comparable sales information, and other market data. Significant judgment is required in evaluating property values, market conditions, absorption periods, and estimated selling costs. Changes in real estate market conditions or other valuation assumptions could result in adjustments to the carrying value of foreclosed assets and impact future earnings. Branches As opportunities arise, we will continue to open new (commonly referred to as de novo ) branches in our current markets and in other attractive market areas. We opened one branch in Rockwall, Texas during the quarter ended June 30, 2026. As of June 30, 2026, we had 227 branch locations. There were 75 branches in Arkansas, 78 branches in Florida, 60 branches in Texas, eight branches in Tennessee, five branches in Alabama and one branch in New York City. Results of Operations For the three and six months ended June 30, 2026 and 2025 Our net income increased $924,000, or 0.8%, to $119.3 million for the three-month period ended June 30, 2026, from $118.4 million for the same period in 2025. On a diluted earnings per share basis, our earnings were $0.59 per share for the three-month period ended June 30, 2026 compared to $0.60 per share for the three-month period ended June 30, 2025. During the three months ended June 30, 2026, the Company recorded $5.2 million in provision for credit losses on loans. Also, during the three months ended June 30, 2026, the Company recorded $274,000 in BOLI death benefit income, $817,000 in income from the fair value adjustment for marketable securities and $12.7 million in merger and acquisition expense due to the completion of the previously announced acquisition of MCBI during the second quarter of 2026. The merger and acquisition expense reduced earnings per share by $0.05 per share for the three-month period ended June 30, 2026. Our net income increased $3.9 million, or 1.7%, to $237.5 million for the six-month period ended June 30, 2026, from $233.6 million for the same period in 2025. On a diluted earnings per share basis, our earnings were $1.19 per share for the six-month period ended June 30, 2026 compared to $1.18 per share for the six-month period ended June 30, 2025. During the six months ended June 30, 2026, the Company recorded $6.7 million in provision for credit losses on loans, and the Company recorded a $1.0 million recovery of credit losses on unfunded commitments. As a result, total credit loss expense for the six-month period ended June 30, 2026 was $5.7 million. During the six months ended June 30, 2026, the Company recorded $1.7 million in income from an FDIC special assessment credit, $274,000 in BOLI death benefits, $431,000 in expense from the fair value adjustment for marketable securities and $13.1 million in merger and acquisition expense due to the completion of the previously announced acquisition of MCBI during the second quarter of 2026. The merger and acquisition expense reduced earnings per share by $0.05 per share for the six-month period ended June 30, 2026. 64 Table of Contents Net Interest Income Net interest income, our principal source of earnings, is the difference between the interest income generated by earning assets and the total interest cost of the deposits and borrowings obtained to fund those assets. Factors affecting the level of net interest income include the volume of earning assets and interest-bearing liabilities, yields earned on loans and investments, rates paid on deposits and other borrowings, the level of non-performing loans and the amount of non-interest-bearing liabilities supporting earning assets. Net interest income is analyzed in the discussion and tables below on a fully taxable equivalent basis. The adjustment to convert certain income to a fully taxable equivalent basis consists of dividing tax-exempt income by one minus the combined federal and state income tax rate (24.359% and 24.433% for 2026 and 2025, respectively). The Federal Reserve Board sets various benchmark rates, including the Federal Funds rate, and thereby influences the general market rates of interest, including the deposit and loan rates offered by financial institutions. The Federal Reserve reduced the target rate three times during 2025. First, on September 17, 2025, the Federal Reserve reduced the target rate to 4.00% to 4.25%, second, on October 29, 2025, the target rate was reduced to 3.75% to 4.00% and third, on December 10, 2025, the target rate was reduced to 3.50% to 3.75%. The Federal Reserve has not changed the target rate during 2026. Our net interest margin increased from 4.44% for the three-month period ended June 30, 2025 to 4.51% for the three-month period ended June 30, 2026. The yield on interest earning assets decreased from 6.42% for the three-months ended June 30, 2025 to 6.26% for the three-months ended June 30, 2026, and average interest earning assets increased from $20.08 billion to $21.74 billion. The increase in average interest earning assets is primarily due to a $2.03 billion increase in average loans receivable, partially offset by a $258.6 million decrease in average interest bearing balances due from banks and a $106.9 million decrease in average investment securities. For the three months ended June 30, 2026 and 2025, we recognized $3.6 million and $1.2 million, respectively, in total net accretion for acquired loans and deposits, and average purchase accounting loan discounts were $42.0 million and $16.2 million for the three months ended June 30, 2026 and 2025, respectively. The increase in accretion income along with the increase in the purchase accounting loan discounts, both of which resulted from the acquisition of Mountain Commerce, increased the net interest margin by five basis points for the three-month period ended June 30, 2026. We recognized $1.7 million in event income for the three-months ended June 30, 2026 compared to $516,000 for the three-months ended June 30, 2025. The increase in event income was accretive to the net interest margin by three basis points. The cost of interest bearing liabilities decreased from 2.73% for the three-months ended June 30, 2025 to 2.45% for the three-months ended June 30, 2026, and average interest-bearing liabilities increased from $14.58 billion to $15.61 billion. The increase in average interest-bearing liabilities is primarily due to a $1.27 billion increase in average interest-bearing deposits, which was partially offset by a $159.5 million decrease in average subordinated debentures and a $100.3 million decrease in FHLB and other borrowed funds. The reduction in subordinated debentures was due to the Company completing the payoff of its $140.0 million 5.50% Fixed-to-Floating Rate Subordinated Notes due 2030 and the Company also repurchasing $20.0 million of its $300.0 million Fixed-to-Floating Rate Subordinated Notes due 2032 during the third quarter of 2025. The two payoff events were accretive to the net interest margin by approximately four basis points. The overall increase in the net interest margin was due to an increase in interest income resulting from the increase in the average balance of interest-earning assets and a decrease in interest expense resulting from a decrease in interest rates paid on interest-bearing liabilities, which were partially offset by a decrease in interest income due to a reduction in asset yields and an increase in interest expense resulting from an increase in the average balance of interest-bearing liabilities. 65 Table of Contents Our net interest margin increased from 4.44% for the six-month period ended June 30, 2025 to 4.51% for the six-month period ended June 30, 2026. The yield on interest earning assets decreased from 6.43% for the six-months ended June 30, 2025 to 6.26% for the six-months ended June 30, 2026, and average interest earning assets increased from $19.96 billion to $21.05 billion. The increase in average interest earning assets is primarily due to a $1.41 billion increase in average loans receivable, partially offset by a $157.1 million decrease in average interest-bearing balances due from banks and a $155.0 million decrease in average investment securities. For the six months ended June 30, 2026 and 2025, we recognized $4.7 million and $2.6 million, respectively, in total net accretion for acquired loans and deposits and average purchase accounting loan discounts were $27.3 million and $16.9 million for the six months ended June 30, 2026 and 2025, respectively. The increase in accretion income along with the increase in the purchase accounting loan discounts, both of which resulted from the acquisition of Mountain Commerce, increased the net interest margin by two basis points for the six-month period ended June 30, 2026. We recognized $1.7 million in event income for the six-months ended June 30, 2026 compared to $1.8 million for the six-months ended June 30, 2025. The cost of interest bearing liabilities decreased from 2.74% for the six-months ended June 30, 2025 to 2.43% for the six-months ended June 30, 2026, and average interest-bearing liabilities increased from $14.49 billion to $15.10 billion. The increase in average interest bearing liabilities is primarily due to a $865.5 million increase in average interest-bearing deposits, which was partially offset by a $159.7 million decrease in average subordinated debentures and a $100.3 million decrease in FHLB and other borrowed funds. The reduction in subordinated debentures was due to the Company completing the payoff of its $140.0 million 5.50% Fixed-to-Floating Rate Subordinated Notes due 2030 and the Company also repurchasing $20.0 million of its $300.0 million Fixed-to-Floating Rate Subordinated Notes due 2032 during the third quarter of 2025. The two payoff events were accretive to the net interest margin by approximately four basis points. The overall increase in the net interest margin was due to an increase in interest income resulting from the increase in the average balance of interest-earning assets and a decrease in interest expense resulting from a decrease in interest rates paid on interest-bearing liabilities, which were partially offset by a decrease in interest income due to a reduction in asset yields and an increase in interest expense resulting from an increase in the average balance of interest-bearing liabilities. Net interest income on a fully taxable equivalent basis increased $21.8 million, or 9.8%, to $244.3 million for the three-month period ended June 30, 2026, from $222.5 million for the same period in 2025. This increase in net interest income for the three-month period ended June 30, 2026 was the result of a $17.8 million increase in interest income, on a fully taxable equivalent basis and a $4.0 million decrease in interest expense. The $17.8 million increase in interest income was primarily the result of the increase in average interest earning asset balances primarily due to the acquisition of MCBI during the second quarter of 2026, partially offset by the impact of the lower interest rate environment. The change in average interest earning asset balances resulted in an increase of $32.4 million in interest income, which was partially offset by a decrease of $14.6 million in interest income due to the lower yield on earning assets. The $4.0 million decrease in interest expense is also primarily the result of the lower interest rate environment. The lower rates on interest bearing liabilities resulted in a decrease in interest expense of approximately $10.4 million, partially offset by an increase in average interest bearing liabilities which increased interest expense by approximately $6.4 million. Net interest income on a fully taxable equivalent basis increased $31.2 million, or 7.1%, to $470.9 million for the six-month period ended June 30, 2026, from $439.7 million for the same period in 2025. This increase in net interest income for the six-month period ended June 30, 2026 was the result of a $16.5 million increase in interest income, on a fully taxable equivalent basis and a $14.7 million decrease in interest expense. The $16.5 million increase in interest income was primarily the result of the increase in average interest earning asset balances primarily due to the acquisition of MCBI during the second quarter of 2026, partially offset by the impact of the lower interest rate environment. The change in average interest earning asset balances resulted in an increase of $44.2 million in interest income, which was partially offset by a decrease of $27.8 million in interest income due to the lower yield on earning assets. The $14.7 million decrease in interest expense is also primarily the result of the lower interest rate environment. The lower rates on interest bearing liabilities resulted in a decrease in interest expense of approximately $21.6 million, partially offset by an increase in average interest bearing liabilities which increased interest expense by approximately $6.9 million. Tables 2 and 3 reflect an analysis of net interest income on a fully taxable equivalent basis for the three and six months ended June 30, 2026 and 2025, as well as changes in the fully taxable equivalent net interest margin for the three and six months ended June 30, 2026 compared to the same period in 2025. 66 Table of Contents Table 2: Analysis of Net Interest Income Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 (Dollars in thousands) Interest income $ 336,836 $ 319,115 $ 647,859 $ 631,657 Fully taxable equivalent adjustment 2,653 2,526 5,314 5,060 Interest income – fully taxable equivalent 339,489 321,641 653,173 636,717 Interest expense 95,193 99,163 182,312 197,049 Net interest income – fully taxable equivalent $ 244,296 $ 222,478 $ 470,861 $ 439,668 Yield on earning assets – fully taxable equivalent 6.26 % 6.42 % 6.26 % 6.43 % Cost of interest-bearing liabilities 2.45 2.73 2.43 2.74 Net interest spread – fully taxable equivalent 3.81 3.69 3.83 3.69 Net interest margin – fully taxable equivalent 4.51 4.44 4.51 4.44 Table 3: Changes in Fully Taxable Equivalent Net Interest Margin Three Months Ended June 30, Six Months Ended June 30, 2026 vs. 2025 2026 vs. 2025 (In thousands) Increase in interest income due to change in earning assets $ 32,413 $ 44,232 Decrease in interest income due to change in earning asset yields (14,565) (27,776) Increase in interest expense due to change in interest-bearing liabilities (6,400) (6,899) Decrease in interest expense due to change in interest rates paid on interest-bearing liabilities 10,370 21,636 Increase in net interest income $ 21,818 $ 31,193 Table 4 shows, for each major category of earning assets and interest-bearing liabilities, the average amount outstanding, the interest income or expense on that amount and the average rate earned or expensed for the three and six months ended June 30, 2026 and 2025, respectively. The table also shows the average rate earned on all earning assets, the average rate expensed on all interest-bearing liabilities, the net interest spread and the net interest margin for the same periods. The analysis is presented on a fully taxable equivalent basis. Non-accrual loans were included in average loans for the purpose of calculating the rate earned on total loans. 67 Table of Contents Table 4: Average Balance Sheets and Net Interest Income Analysis Three Months Ended June 30, 2026 2025 Average Balance Income / Expense Yield / Rate Average Balance Income / Expense Yield / Rate (Dollars in thousands) ASSETS Earnings assets Interest-bearing balances due from banks $ 555,186 $ 5,135 3.71 % $ 813,833 $ 8,951 4.41 % Federal funds sold 4,042 37 3.67 4,878 53 4.36 Investment securities – taxable 2,936,008 25,787 3.52 3,095,764 26,444 3.43 Investment securities – non-taxable 1,165,876 10,260 3.53 1,113,044 10,033 3.62 Loans receivable 17,083,743 298,270 7.00 15,055,414 276,160 7.36 Total interest-earning assets 21,744,855 339,489 6.26 % 20,082,933 321,641 6.42 % Non-earning assets 2,780,403 2,714,805 Total assets $ 24,525,258 $ 22,797,738 LIABILITIES AND STOCKHOLDERS’ EQUITY Liabilities Interest-bearing liabilities Savings and interest-bearing transaction accounts $ 12,392,404 $ 68,650 2.22 % $ 11,541,641 71,042 2.47 % Time deposits 2,301,685 18,782 3.27 1,886,147 17,447 3.71 Total interest-bearing deposits 14,694,089 87,432 2.39 13,427,788 88,489 2.64 Federal funds purchased 30 — — 46 — — Securities sold under agreement to repurchase 167,885 1,057 2.53 143,752 1,012 2.82 FHLB and other borrowed funds 466,734 4,346 3.73 566,984 5,539 3.92 Subordinated debentures 279,519 2,358 3.38 439,027 4,123 3.77 Total interest-bearing liabilities 15,608,257 95,193 2.45 % 14,577,597 99,163 2.73 % Non-interest-bearing liabilities Non-interest-bearing deposits 4,222,813 3,981,901 Other liabilities 158,476 202,085 Total liabilities 19,989,546 18,761,583 Stockholders’ equity 4,535,712 4,036,155 Total liabilities and stockholders’ equity $ 24,525,258 $ 22,797,738 Net interest spread 3.81 % 3.69 % Net interest income and margin $ 244,296 4.51 % $ 222,478 4.44 % 68 Table of Contents Six Months Ended June 30, 2026 2025 Average Balance Income / Expense Yield / Rate Average Balance Income / Expense Yield / Rate (Dollars in thousands) ASSETS Earnings assets Interest-bearing balances due from banks $ 556,312 $ 10,080 3.65 % $ 713,455 $ 15,571 4.40 % Federal funds sold 4,658 85 3.68 4,984 108 4.37 Investment securities – taxable 2,935,955 50,515 3.47 3,137,296 53,877 3.46 Investment securities – non-taxable 1,170,742 20,545 3.54 1,124,351 20,094 3.60 Loans receivable 16,386,047 571,948 7.04 14,975,109 547,067 7.37 Total interest-earning assets 21,053,714 653,173 6.26 % 19,955,195 636,717 6.43 % Non-earning assets 2,702,912 2,718,779 Total assets $ 23,756,626 $ 22,673,974 LIABILITIES AND STOCKHOLDERS’ EQUITY Liabilities Interest-bearing liabilities Savings and interest-bearing transaction accounts $ 12,132,136 $ 133,059 2.21 % $ 11,472,548 140,713 2.47 % Time deposits 2,049,991 33,518 3.30 1,844,059 34,562 3.78 Total interest-bearing deposits 14,182,127 166,577 2.37 13,316,607 175,275 2.65 Federal funds purchased 15 — — 23 — — Securities sold under agreement to repurchase 159,925 1,984 2.50 149,773 2,086 2.81 FHLB and other borrowed funds 483,399 9,038 3.77 583,739 11,441 3.95 Subordinated debentures 279,435 4,713 3.40 439,100 8,247 3.79 Total interest-bearing liabilities 15,104,901 182,312 2.43 % 14,489,242 197,049 2.74 % Non-interest-bearing liabilities Non-interest-bearing deposits 4,040,665 3,981,425 Other liabilities 167,823 196,232 Total liabilities 19,313,389 18,666,899 Stockholders’ equity 4,443,237 4,007,075 Total liabilities and stockholders’ equity $ 23,756,626 $ 22,673,974 Net interest spread 3.83 % 3.69 % Net interest income and margin $ 470,861 4.51 % $ 439,668 4.44 % 69 Table of Contents Table 5 shows changes in interest income and interest expense resulting from changes in volume and changes in interest rates for the three and six months ended June 30, 2026 compared to the same period in 2025, on a fully taxable basis. The changes in interest rate and volume have been allocated to changes in average volume and changes in average rates, in proportion to the relationship of absolute dollar amounts of the changes in rates and volume. Table 5: Volume/Rate Analysis Three Months Ended June 30, Six Months Ended June 30, 2026 over 2025 2026 over 2025 Volume Yield / Rate Total Volume Yield / Rate Total (In thousands) Increase (decrease) in: Interest income: Interest-bearing balances due from banks $ (2,543) $ (1,273) $ (3,816) $ (3,101) $ (2,390) $ (5,491) Federal funds sold (8) (8) (16) (7) (16) (23) Investment securities – taxable (1,390) 733 (657) (3,464) 102 (3,362) Investment securities – non-taxable 469 (242) 227 819 (368) 451 Loans receivable 35,885 (13,775) 22,110 49,985 (25,104) 24,881 Total interest income 32,413 (14,565) 17,848 44,232 (27,776) 16,456 Interest expense: Interest-bearing transaction and savings deposits 5,014 (7,406) (2,392) 7,789 (15,443) (7,654) Time deposits 3,549 (2,214) 1,335 3,630 (4,674) (1,044) Securities sold under agreement to repurchase 159 (114) 45 135 (237) (102) FHLB and other borrowed funds (943) (250) (1,193) (1,895) (508) (2,403) Subordinated debentures (1,379) (386) (1,765) (2,760) (774) (3,534) Total interest expense 6,400 (10,370) (3,970) 6,899 (21,636) (14,737) Increase (decrease) in net interest income $ 26,013 $ (4,195) $ 21,818 $ 37,333 $ (6,140) $ 31,193 Provision for Credit Losses Credit Loss Expense : During the three and six months ended June 30, 2026, the Company recorded $5.2 million and $6.7 million in provision for credit losses on loans, respectively. Management determined no provision, or recovery of credit losses, was necessary for the unfunded commitments during the three months ended June 30, 2026. However, for the six months ended June 30, 2026, the Company recorded a $1.0 million recovery of credit losses on unfunded commitments. During the three and six months ended June 30, 2026, the Company determined no allowance for credit losses on the available-for-sale portfolio was necessary. The Company also determined the $2.0 million allowance for credit losses on the held-to-maturity portfolio was adequate. Therefore, no provision was considered necessary for either portfolio. During the three and six months ended June 30, 2025, the Company recorded $3.0 million in provision for credit losses on loans. In addition, management determined that a provision was not necessary for the unfunded commitments as the current level of the reserve was considered adequate. During the three and six months ended June 30, 2025, the Company determined the $2.2 million allowance for credit losses on the available for sale portfolio and the $2.0 million allowance for credit losses on the held-to-maturity portfolio was adequate. Therefore, no additional provision was considered necessary. Net charge-offs to average total loans were 0.14% and 0.03% for the three months ended June 30, 2026 and 2025, respectively. Net charge-offs (recoveries) to average total loans were 0.09% and (0.04)% for the six months ended June 30, 2026 and 2025, respectively. Non-Interest Income Total non-interest income was $53.5 million and $96.3 million for the three and six months ended June 30, 2026, compared to $51.1 million and $96.5 million for the same periods in 2025. Our recurring non-interest income includes service charges on deposit accounts, other service charges and fees, trust fees, mortgage lending income, insurance commissions, increase in cash value of life insurance, fair value adjustment for marketable securities and dividends. 70 Table of Contents Table 6 measures the various components of our non-interest income for the three and six months ended June 30, 2026 and 2025. Table 6: Non-Interest Income Three Months Ended June 30, 2026 Change from 2025 Six Months Ended June 30, 2026 Change from 2025 2026 2025 2026 2025 (Dollars in thousands) Service charges on deposit accounts $ 10,030 $ 9,552 $ 478 5.0 % $ 20,037 $ 19,202 $ 835 4.3 % Other service charges and fees 12,973 12,643 330 2.6 22,783 23,332 (549) (2.4) Trust fees 6,109 5,234 875 16.7 11,591 9,994 1,597 16.0 Mortgage lending income 5,139 4,780 359 7.5 9,569 8,379 1,190 14.2 Insurance commissions 578 589 (11) (1.9) 1,114 1,124 (10) (0.9) Increase in cash value of life insurance 1,553 1,415 138 9.8 2,921 3,257 (336) (10.3) Dividends from FHLB, FRB, FNBB & other 2,841 2,657 184 6.9 5,377 5,375 2 — Gain on sale of SBA loans — — — — 80 288 (208) (72.2) Gain (loss) on sale of branches, equipment and other assets, net 3 972 (969) (99.7) (4) 809 (813) (100.5) Gain (loss) on OREO, net 332 13 319 2,453.8 1,039 (363) 1,402 386.2 Fair value adjustment for marketable securities 817 (238) 1,055 443.3 (431) 204 (635) (311.3) Other income 13,079 13,462 (383) (2.8) 22,181 24,904 (2,723) (10.9) Total non-interest income $ 53,454 $ 51,079 $ 2,375 4.6 % $ 96,257 $ 96,505 $ (248) (0.3) % Non-interest income increased $2.4 million, or 4.6%, to $53.5 million for the three months ended June 30, 2026 from $51.1 million for the same period in 2025. The primary factors in this increase were the increases in service charges on deposit accounts, trust fees and fair value adjustment for marketable securities, which was partially offset by the decrease in gain (loss) on sale of branches, equipment and other assets, net. Additional details for the three months ended June 30, 2026 on some of the more significant changes are as follows: • The $478,000 increase in service charges on deposit accounts is primarily related to an increase in overdraft fees as well as the acquisition of MCBI. • The $875,000 increase in trust fees is primarily due to an increase in personal trust and IRA fees. • The $969,000 decrease in gain (loss) on sale of branches, equipment and other assets, net is primarily due to the sale of a company airplane in 2025. • The $1.1 million increase in the fair value adjustment for marketable securities is due to market fluctuations. Non-interest income decreased $248,000, or 0.26%, to $96.3 million for the six months ended June 30, 2026 from $96.5 million for the same period in 2025. The primary factors in this decrease were the decreases in other service charges and fees, gain (loss) on sale of branches, equipment and other assets, net, fair value adjustment for marketable securities and other income, which were partially offset by the increases in services charges on deposit accounts, trust fees, mortgage lending income and the gain (loss) on OREO, net. Additional details for the six months ended June 30, 2026 on some of the more significant changes are as follows: • The $835,000 increase in service charges on deposit accounts is primarily related to an increase in overdraft fees as well as the acquisition of MCBI. • The $549,000 decrease in other service charges and fees is primarily related to a decrease in Centennial CFG property finance loan fees, FIS Mastercard income and dealer floor fees. • The $1.6 million increase in trust fees is primarily due to an increase in personal trust and IRA fees. • The $1.2 million increase in mortgage lending income is primarily due to an increase in volume of secondary market loans. • The $813,000 decrease in gain (loss) on sale of branches, equipment and other assets, net is primarily due to the sale of a company airplane in 2025. 71 Table of Contents • The $1.4 million increase in gain on OREO, net is primarily due to the gain on the sale of a building from our Florida region in 2026 and the loss on the sale of a building from our Florida region during 2025. • The $635,000 decrease in the fair value adjustment for marketable securities is due to market fluctuations. • The $2.7 million decrease in other income is primarily due to a $3.9 million decrease in income from the fair value of equity securities, a $968,000 decrease in BOLI death benefit income and a $498,000 decrease in recoveries on historic losses, partially offset by a $1.1 million increase in investment brokerage fee income and a $1.1 million increase in miscellaneous income primarily from various tax refunds. Non-Interest Expense Non-interest expense consists of salaries and employee benefits, occupancy and equipment, data processing, merger and acquisition and other expenses such as advertising, amortization of intangibles, electronic banking expense, FDIC and state assessment, insurance, legal and accounting fees, other professional fees and other expenses. Table 7 below sets forth a summary of non-interest expense for the three and six months ended June 30, 2026 and 2025. Table 7: Non-Interest Expense Three Months Ended June 30, 2026 Change from 2025 Six Months Ended June 30, 2026 Change from 2025 2026 2025 2026 2025 (Dollars in thousands) Salaries and employee benefits $ 68,742 $ 64,318 $ 4,424 6.9 % $ 131,978 $ 126,173 $ 5,805 4.6 % Occupancy and equipment 15,787 14,023 1,764 12.6 30,654 28,448 2,206 7.8 Data processing expense 9,307 8,364 943 11.3 18,191 16,922 1,269 7.5 Merger and acquisition expenses 12,726 — 12,726 100.0 13,120 — 13,120 100.0 Other operating expenses: Advertising 2,214 2,054 160 7.8 4,441 3,982 459 11.5 Amortization of intangibles 2,889 2,025 864 42.7 4,827 4,072 755 18.5 Electronic banking expense 3,223 3,172 51 1.6 6,549 6,227 322 5.2 Directors' fees 416 431 (15) (3.5) 934 883 51 5.8 Due from bank service charges 344 283 61 21.6 677 564 113 20.0 FDIC and state assessment 3,045 1,636 1,409 86.1 4,644 5,023 (379) (7.5) Insurance 1,090 1,049 41 3.9 2,164 2,048 116 5.7 Legal and accounting 1,426 2,360 (934) (39.6) 2,340 6,001 (3,661) (61.0) Other professional fees 2,247 2,211 36 1.6 4,193 4,158 35 0.8 Operating supplies 769 711 58 8.2 1,517 1,422 95 6.7 Postage 684 488 196 40.2 1,227 991 236 23.8 Telephone 324 419 (95) (22.7) 687 855 (168) (19.6) Other expense 10,261 12,496 (2,235) (17.9) 21,326 21,199 127 0.6 Total non-interest expense $ 135,494 $ 116,040 $ 19,454 16.8 % $ 249,469 $ 228,968 $ 20,501 9.0 % Non-interest expense increased $19.5 million, or 16.8%, to $135.5 million for the three months ended June 30, 2026 from $116.0 million for the same period in 2025. The primary factors that resulted in this increase were the increases in salaries and employee benefits, occupancy and equipment expense, data processing expense, merger and acquisition expense, amortization of intangibles and FDIC and state assessment expense, which were partially offset by the decreases in legal and accounting expense and other expenses. Additional details for the three months ended June 30, 2026 on some of the more significant changes are as follows: • The $4.4 million increase in salaries and employee benefits expense is primarily due to the MCBI acquisition as well as an increase in incentive compensation as a result of an increase in revenue for the Company combined with the additional costs of doing business. • The $1.8 million increase in occupancy and equipment expense is due to an increase in depreciation expense on buildings, machinery and equipment related to the acquisition of MCBI. 72 Table of Contents • The $943,000 increase in data processing expense is due to an increase in core processing computer expense related to the acquisition of MCBI. • The $12.7 million increase in merger and acquisition expense is related to costs associated with the acquisition of MCBI. • The $864,000 increase in amortization of intangibles is due to the acquisition of MCBI. • The $1.4 million increase in FDIC and state assessment expense is due to a reversal adjustment from restating call report uninsured deposits from December 2022 through December 2024, which lowered assessment expense for the second quarter of 2025. • The $934,000 decrease in legal and accounting expense is primarily due to legal matters which occurred during 2025. • The $2.2 million decrease in other expense is primarily due to $3.3 million in legal claims expense being recorded during the second quarter of 2025. Non-interest expense increased $20.5 million, or 9.0%, to $249.5 million for the six months ended June 30, 2026 from $229.0 million for the same period in 2025. The primary factors that resulted in this increase were the increases in salaries and employee benefits, occupancy and equipment, data processing and merger and acquisition expenses, which were partially offset by the decrease in legal and accounting expense. Additional details for the six months ended June 30, 2026 on some of the more significant changes are as follows: • The $5.8 million increase in salaries and employee benefits expense is primarily due to the MCBI acquisition as well as an increase in incentive compensation as a result of an increase in revenue for the Company combined with the additional costs of doing business. • The $2.2 million increase in occupancy and equipment expense is due to an increase in depreciation expense on buildings, machinery and equipment related to the acquisition of MCBI. • The $1.3 million increase in data processing expense is due to an increase in core processing computer expense related to the acquisition of MCBI. • The $13.1 million increase in merger and acquisition expense is related to costs associated with the acquisition of MCBI. • The $3.6 million decrease in legal and accounting expense is primarily due to legal matters which occurred during 2025. Income Taxes Income tax expense increased $1.5 million, or 4.4%, to $35.1 million for the three-month period ended June 30, 2026, from $33.6 million for the same period in 2025. Income tax expense increased $3.6 million, or 5.4%, to $69.1 million for the six-month period ended June 30, 2026, from $65.5 million for the same period in 2025. The effective income tax rate was 22.72% and 22.53% for the three and six months ended June 30, 2026, compared to 22.10% and 21.91% for the same periods in 2025. The marginal tax rate was 24.359% and 24.433% for 2026 and 2025, respectively. 73 Table of Contents Financial Condition as of and for the Period Ended June 30, 2026 and December 31, 2025 Our total assets, as of June 30, 2026, increased $1.83 billion to $24.71 billion from $22.88 billion reported as of December 31, 2025. The increase in total assets is primarily due to the acquisition of $1.77 billion in total assets, net of purchase accounting adjustments, from MCBI during the second quarter of 2026. Cash and cash equivalents increased $385.2 million for the six months ended June 30, 2026. Our loan portfolio balance increased to $17.13 billion, as of June 30, 2026, from $15.69 billion at December 31, 2025. The increase in loans was primarily due to the acquisition of $1.47 billion in loans, net of purchase accounting adjustments, from MCBI during the second quarter of 2026 and $25.3 million of organic loan growth from our Centennial CFG franchise , which was partially offset by $54.1 million of loan decline in our community banking footprint. Investment securities decreased by $100.2 million resulting from paydowns and maturities during the first six months of 2026. Total deposits increased $1.63 billion to $19.11 billion as of June 30, 2026 from $17.48 billion as of December 31, 2025. The increase in deposits was primarily due to the acquisition of $1.54 billion in deposits, net of purchase accounting adjustments, from MCBI during the second quarter of 2026. Stockholders’ equity increased $250.6 million to $4.55 billion as of June 30, 2026, compared to $4.30 billion as of December 31, 2025. The $250.6 million increase in stockholders’ equity is primarily associated with the $146.0 million in common stock issued to MCBI shareholders for the acquisition of MCBI on April 1, 2026 and the $237.5 million in net income for the six months ended June 30, 2026, partially offset by the $83.5 million in shareholder dividends paid, stock repurchases of $54.7 million and $3.1 million in other comprehensive loss. Loan Portfolio Loans Receivable Our loan portfolio averaged $17.08 billion and $15.06 billion during the three months ended June 30, 2026 and 2025, respectively. Our loan portfolio averaged $16.39 billion and $14.98 billion during the six months ended June 30, 2026 and 2025, respectively. Loans receivable were $17.13 billion and $15.69 billion as of June 30, 2026 and December 31, 2025, respectively. From December 31, 2025 to June 30, 2026, the Company experienced an increase of approximately $1.44 billion in loans. The increase in loans was due to the acquisition of $1.47 billion in loans, net of purchase accounting adjustments, from MCBI during the second quarter of 2026 and $25.3 million of organic loan growth from our Centennial CFG franchise, which was partially offset by $54.1 million of loan decline in our community banking footprint. The most significant components of the loan portfolio were commercial real estate, residential real estate, consumer and commercial and industrial loans. These loans are generally secured by residential or commercial real estate or business or personal property. Although these loans are primarily originated within our franchises in Arkansas, Florida, Texas, Tennessee, Alabama and Centennial CFG, the property securing these loans may not physically be located within our market areas of Arkansas, Florida, Texas, Tennessee, Alabama and New York. Loans receivable were approximately $3.93 billion, $4.38 billion, $3.83 billion, $1.47 billion, $98.4 million, $1.39 billion and $2.04 billion as of June 30, 2026 in Arkansas, Florida, Texas, Tennessee, Alabama, SPF and Centennial CFG, respectively. 74 Table of Contents Table 8 presents our loans receivable balances by category as of June 30, 2026 and December 31, 2025. Table 8: Loans Receivable June 30, 2026 December 31, 2025 (In thousands) Real estate: Commercial real estate loans: Non-farm/non-residential $ 5,921,829 $ 5,290,112 Construction/land development 2,780,116 2,726,993 Agricultural 329,231 332,412 Residential real estate loans: Residential 1-4 family 2,545,462 2,134,334 Multifamily residential 1,269,728 1,140,911 Total real estate 12,846,366 11,624,762 Consumer 1,278,008 1,253,746 Commercial and industrial 2,285,054 2,222,401 Agricultural 356,611 359,879 Other 361,169 225,421 Total loans receivable $ 17,127,208 $ 15,686,209 Commercial Real Estate Loans. We originate non-farm and non-residential loans (primarily secured by commercial real estate), construction/land development loans, and agricultural loans, which are generally secured by real estate located in our market areas. Our commercial mortgage loans are generally collateralized by first liens on real estate and amortized (where defined) over a 15 to 30-year period with balloon payments due at the end of one to five years. These loans are generally underwritten by assessing cash flow (debt service coverage), primary and secondary source of repayment, the financial strength of the borrower as well as any guarantors, the strength of the tenant (if any), the borrower’s liquidity and leverage, management experience, ownership structure, economic conditions and industry specific trends and collateral. Generally, we will loan up to 85% of the value of improved property, 65% of the value of raw land and 75% of the value of land to be acquired and developed. A first lien on the property and assignment of lease is required if the collateral is rental property, with second lien positions considered on a case-by-case basis. As of June 30, 2026, commercial real estate ("CRE") loans totaled $9.03 billion, or 52.7%, of loans receivable, as compared to $8.35 billion, or 53.2%, of loans receivable, as of December 31, 2025. CRE loans originated in our Arkansas, Florida, Texas, Tennessee, Alabama, SPF and Centennial CFG markets were $2.26 billion, $2.67 billion, $1.86 billion, $740.2 million, $46.0 million, zero and $1.46 billion at June 30, 2026, respectively. As of June 30, 2026, we had approximately $1.30 billion of construction/land development loans which were collateralized by land. This consisted of approximately $34.9 million for raw land and approximately $1.27 billion for land with commercial and/or residential lots. Table 9 presents the composition of the funded and unfunded balances of our CRE portfolio by loan type, as of June 30, 2026 and December 31, 2025, and their respective percentages of our total CRE portfolio. 75 Table of Contents Table 9: CRE Loan Concentrations June 30, 2026 Funded Balance % of CRE Loans Unfunded Balance % of CRE Loans (Dollars in thousands) Non-Farm/Non-Residential: Single Purpose Building $ 757,852 8.4 % $ 71,413 3.6 % Office Building 1,047,935 11.6 94,024 4.7 Hotel 1,289,940 14.3 20,422 1.0 Industrial 433,517 4.8 49,368 2.5 Retail 546,466 6.1 14,685 0.7 Owner-Occupied (1) 1,846,119 20.5 107,079 5.4 Construction/Land Development: Construction Residential-Spec 326,584 3.6 303,182 15.2 Residential Land Development 393,840 4.4 126,161 6.3 Construction Commercial 308,890 3.4 275,914 13.8 Construction Multi Family 407,759 4.5 398,969 20.0 Commercial Land Development 904,059 10.0 94,690 4.7 Construction Residential-Presold 290,899 3.2 167,491 8.4 Construction Hotel 112,886 1.2 256,223 12.8 Raw Land 35,199 0.4 270 — Agricultural (1) 329,231 3.6 18,529 0.9 Total Commercial Real Estate (2) $ 9,031,176 100.0 % $ 1,998,420 100.0 % December 31, 2025 Funded Balance % of CRE Loans Unfunded Balance % of CRE Loans (Dollars in thousands) Non-Farm/Non-Residential: Single Purpose Building $ 706,177 8.5 % $ 71,063 3.3 % Office Building 1,008,629 12.1 96,027 4.4 Hotel 1,160,378 13.9 13,105 0.6 Industrial 310,376 3.7 36,695 1.7 Retail 503,907 6.0 16,513 0.8 Owner-Occupied (1) 1,600,645 19.2 113,429 5.2 Construction/Land Development: Construction Residential-Spec 403,058 4.8 289,133 13.2 Residential Land Development 414,542 5.0 168,976 7.7 Construction Commercial 267,719 3.2 309,536 14.1 Construction Multi Family 546,607 6.5 500,520 22.9 Commercial Land Development 777,853 9.3 115,489 5.3 Construction Residential-Presold 180,721 2.2 146,770 6.7 Construction Hotel 94,712 1.1 280,314 12.8 Raw Land 41,781 0.5 610 — Agricultural (1) 332,412 4.0 27,869 1.3 Total Commercial Real Estate (2) $ 8,349,517 100.0 % $ 2,186,049 100.0 % (1) Agriculture real estate loans and owner-occupied non-farm non-residential loans are not included within CRE for regulatory reporting purposes. (2) Excludes multi-family residential loans of $1.27 billion and $1.14 billion as of June 30, 2026 and December 31, 2025, respectively, which are included in the residential real estate loans throughout the filing. Multi-family residential loans are included in CRE for regulatory purposes. 76 Table of Contents Table 10 presents the composition of our CRE loan portfolio by the ten largest geographical locations of the collateral as of June 30, 2026 and December 31, 2025. Table 10: Geographical Locations of CRE Loans (In thousands) Florida Texas Arkansas Tennessee New York California Missouri Alabama Georgia Utah All Other Total As of June 30, 2026 Non-Farm/Non-Residential: Single Purpose Building $ 183,596 $ 156,465 $ 227,671 $ 72,306 $ — $ 600 $ 12,407 $ 13,546 $ 16,259 $ — $ 75,002 $ 757,852 Office Building 157,306 402,948 61,432 82,314 597 9,431 260,002 1,279 42,936 — 29,690 1,047,935 Hotel 623,585 278,355 116,927 121,468 4,964 — 507 16,372 23,941 — 103,821 1,289,940 Industrial 45,083 173,875 55,879 20,148 52,155 54,210 — 29,481 — — 2,686 433,517 Retail 107,822 225,147 38,630 66,195 — 35,968 292 11,552 688 — 60,172 546,466 Owner-Occupied (1) 468,942 482,234 358,047 240,304 — 6,530 1,682 26,970 26,006 — 235,404 1,846,119 Construction/Land Development: Construction Residential - Spec 140,071 113,939 34,522 20,725 — — — 682 — — 16,645 326,584 Residential Land Development 165,503 83,937 41,317 6,348 — — — 2,056 — 92,789 1,890 393,840 Construction Commercial 72,708 26,833 87,823 16,958 23,929 — — 29,294 — 14,936 36,409 308,890 Construction Multi Family 284,384 419 23,554 — — 28,315 — — — — 71,087 407,759 Commercial Land Development 259,825 62,568 24,696 21,145 158,909 188,429 — 24,916 16,015 — 147,556 904,059 Construction Residential - Presold 57,085 101,679 15,063 14,423 101,386 — — 1,263 — — — 290,899 Construction Hotel 2,992 23,940 — 37,921 — — — 19,740 — — 28,293 112,886 Raw Land 8,454 10,352 15,776 194 — — — 236 — — 187 35,199 Agricultural (1) 46,864 139,118 106,847 16,784 — — 3,026 2,158 — — 14,434 329,231 Total Commercial Real Estate (2) $ 2,624,220 $ 2,281,809 $ 1,208,184 $ 737,233 $ 341,940 $ 323,483 $ 277,916 $ 179,545 $ 125,845 $ 107,725 $ 823,276 $ 9,031,176 (In thousands) Florida Texas Arkansas New York California Georgia Alabama Utah Pennsylvania Tennessee All Other Total As of December 31, 2025 Non-Farm/Non-Residential: Single Purpose Building $ 221,682 $ 165,311 $ 227,874 $ — $ 600 $ 12,229 $ 7,554 $ — $ — $ 5,071 $ 65,856 $ 706,177 Office Building 256,836 404,755 64,001 622 17,562 130,687 9,086 — 19,229 — 105,851 1,008,629 Hotel 602,220 267,493 118,862 4,999 — 24,083 17,812 — — — 124,909 1,160,378 Industrial 60,891 148,448 35,640 — 20,751 — 42,875 — — — 1,771 310,376 Retail 140,082 241,732 41,756 — 35,936 1,022 11,760 — — 406 31,213 503,907 Owner-Occupied (1) 455,897 499,183 351,471 — 6,557 17,732 27,131 — 79,608 6,262 156,804 1,600,645 Construction/Land Development: — Construction Residential - Spec 136,751 103,726 41,319 118,698 — — 91 — — — 2,473 403,058 Residential Land Development 140,163 89,286 46,114 — 27,315 171 1,583 76,741 — 3,615 29,554 414,542 Construction Commercial 48,964 40,140 71,385 22,775 31,017 — 16,701 14,637 — 13,011 9,089 267,719 Construction Multi Family 289,314 508 924 104,942 — — — — 267 32,923 117,729 546,607 Commercial Land Development 194,889 70,052 26,108 121,137 119,335 19,133 15,749 38,332 — 11,640 161,478 777,853 Construction Residential - Presold 62,595 96,170 19,626 — — — 2,330 — — — — 180,721 Construction Hotel 2,424 32,064 — — — — 13,549 — — 18,813 27,862 94,712 Raw Land 10,581 10,618 20,158 — — — 232 — — — 192 41,781 Agricultural (1) 47,080 149,162 116,396 — — — 2,297 — — — 17,477 332,412 Total Commercial Real Estate (2) $ 2,670,369 $ 2,318,648 $ 1,181,634 $ 373,173 $ 259,073 $ 205,057 $ 168,750 $ 129,710 $ 99,104 $ 91,741 $ 852,258 $ 8,349,517 (1) Agriculture real estate loans and owner-occupied non-farm non-residential loans are not included within CRE for regulatory reporting purposes. (2) Excludes multi-family residential loans of $1.27 billion and $1.14 billion as of June 30, 2026 and December 31, 2025, respectively, which are included in the residential real estate loans throughout the filing. Multi-family residential loans are included in CRE for regulatory purposes. 77 Table of Contents Our loan policy states that in order to achieve a well-balanced, diversified credit portfolio, concentrations containing inappropriate or excessive risk are to be avoided. It is the goal of the Company to maintain a prudent diversification of loans. We define a concentration of credit as direct or indirect obligations according to the following guidelines: (i) concentrations of 25% or more of total risk-based capital by individual borrower, small, interrelated group of individuals, single repayment source or individual project; (ii) concentrations of 100% or more of total risk-based capital by industry or product line. As of June 30, 2026, we have not met the threshold for the concentration limits. In addition, the Bank's Board of Directors monitors the CRE loan portfolio for concentrations related to geography, industry, and collateral type and determines applicable guidelines. The Chief Lending Officer also reviews the portfolio periodically to determine if any concentrations exist and makes recommendations with respect to setting internal guidelines. The Company also monitors key risk indicators ("KRIs") on a quarterly basis for the overall loan portfolio as well as specific KRIs for the CRE portfolio. The KRIs are tied to the Bank's appetite for credit risk which is reflected in the Bank's credit policy and underwriting criteria. The KRIs related to underwriting include loan downgrades by loan review, loan downgrades to classified levels and loan policy exceptions (loan to value, debt coverage ratio and credit score). The KRIs related to CRE loans include concentrations of construction and land loans, concentrations of total CRE loans, CRE loans in excess of loan to value guidelines and total real estate loans in excess of loan to value guidelines. The results of the KRI analysis are presented to the Bank's Asset Quality Committee on a quarterly basis. Any exceptions to established limits and thresholds are monitored and addressed in a timely manner as required by the Asset Quality Committee. The Company has a CRE strategy and contingency plan which outlines the principles required to adequately manage our CRE exposures. It discusses the inherent risks within CRE lending, as well as the risks unique to specific lending activities and property taxes. In addition, the plan outlines internal limits related to CRE lending, reasoning for operating outside those limits, and provides for a contingency plan to reduce the CRE exposures under adverse economic conditions or other situations where it is deemed necessary to do so. The responsibility for monitoring the CRE Strategy and Contingency Plan, and subsequent reporting to management and the Board of Directors lies with the Chief Lending Officer and the Asset Quality Committee of the Board of Directors. Within the CRE Strategy and Contingency Plan, we established four adverse economic triggers to measure on an ongoing basis to attempt to determine when a change in CRE strategy might be warranted, at least from an external economic perspective. If one or a combination of these triggers have exceeded Board approved thresholds, the Executive Risk Committee will determine which action or combination of actions, if any, to take based on the specific situation. If utilized, the required actions are likely to focus on tightening/loosening of underwriting criteria, potential capital raises or loan distribution actions such as selling or participating loans. However, other action steps may be considered necessary depending upon the specific situation. As of June 30, 2026, the Company believes our current underwriting standards and capital position remain adequate for addressing the risks to our CRE portfolio. Residential Real Estate Loans. We originate one to four family, residential mortgage loans generally secured by property located in our primary market areas. Approximately 61.5% and 32.9% of our residential mortgage loans consist of owner occupied 1-4 family properties and non-owner occupied 1-4 family properties (rental), respectively, as of June 30, 2026, with the remaining 5.6% relating to condominiums and mobile homes. Residential real estate loans generally have a loan-to-value ratio of up to 90%. These loans are underwritten by giving consideration to the borrower’s ability to pay, stability of employment or source of income, debt-to-income ratio, credit history and loan-to-value ratio. As of June 30, 2026, residential real estate loans totaled $3.82 billion, or 22.3%, of loans receivable, compared to $3.28 billion, or 20.9%, of loans receivable, as of December 31, 2025. Residential real estate loans originated in our Arkansas, Florida, Texas, Tennessee, Alabama, SPF and Centennial CFG markets were $764.8 million, $1.13 billion, $852.9 million, $620.9 million, $38.9 million, zero and $405.0 million at June 30, 2026, respectively. Consumer Loans. Our consumer loans are composed of secured and unsecured loans originated by our bank, the primary portion of which consists of loans to finance United States Coast Guard registered high-end sail and power boats within our SPF division. The performance of consumer loans will be affected by the local and regional economies as well as the rates of personal bankruptcies, job loss, divorce and other individual changes in circumstance. Consumer loans totaled $1.28 billion, or 7.5%, of loans receivable at June 30, 2026, compared to $1.25 billion, or 8.0%, of loans receivable, as of December 31, 2025. Consumer loans originated in our Arkansas, Florida, Texas, Tennessee, Alabama, SPF and Centennial CFG markets were $17.8 million, $5.9 million, $7.6 million, $9.9 million $400,000, $1.24 billion and zero at June 30, 2026, respectively. 78 Table of Contents Commercial and Industrial Loans. Commercial and industrial loans are made for a variety of business purposes, including working capital, inventory, equipment and capital expansion. The terms for commercial loans are generally one to seven years. Commercial loan applications must be supported by current financial information of the borrower and, where appropriate, by adequate collateral. Commercial loans are generally underwritten by addressing cash flow (debt service coverage), primary and secondary sources of repayment, the financial strength of the borrower as well as any guarantors, the borrower’s liquidity and leverage, management experience, ownership structure, economic conditions and industry specific trends and collateral. The loan to value ratio depends on the type of collateral. Generally, accounts receivable are financed at between 50% and 80% of accounts receivable less than 60 days past due. Inventory financing will range between 50% and 80% (with no work in process) depending on the borrower and nature of inventory. We require a first lien position for those loans. As of June 30, 2026, commercial and industrial loans totaled $2.29 billion, or 13.3%, of loans receivable, compared to $2.22 billion, or 14.2%, of loans receivable, as of December 31, 2025. Commercial and industrial loans originated in our Arkansas, Florida, Texas, Tennessee, Alabama, SPF and Centennial CFG markets were $552.4 million, $562.8 million, $819.6 million, $96.8 million, $13.2 million, $152.5 million and $87.9 million at June 30, 2026, respectively. Non-Performing Assets We classify our problem loans into three categories: past due loans, special mention loans and classified loans (accruing and non-accruing). When management determines that a loan is no longer performing, and that collection of interest appears doubtful, the loan is placed on non-accrual status. Loans that are 90 days past due are placed on non-accrual status unless they are adequately secured and there is reasonable assurance of full collection of both principal and interest. Our management closely monitors all loans that are contractually 90 days past due, treated as "special mention" or otherwise classified or on non-accrual status. Purchased loans that have experienced more than insignificant credit deterioration since origination are PCD loans. An allowance for credit losses is determined using an expected loss methodology. The Company develops separate PCD models for each loan segment with PCD loans not individually analyzed for credit losses. The sum of the loan’s purchase price and allowance for credit losses becomes its initial amortized cost basis. The difference between the initial amortized cost basis and the par value of the loan is a non-credit discount or premium, which is amortized into interest income over the life of the loan. Subsequent changes to the allowance for credit losses are recorded through the provision for credit losses. The Company held approximately $95.8 million and $52.2 million in PCD loans, as of June 30, 2026 and December 31, 2025, respectively. As of June 30, 2026, $50.1 million and $45.7 million resulted from the acquisitions of Happy Bancshares, Inc. in 2022 and Mountain Commerce Bancorp, Inc. in 2026, respectively. Table 11 sets forth information with respect to our non-performing assets as of June 30, 2026 and December 31, 2025. As of these dates, all non-performing restructured loans are included in non-accrual loans. Table 11: Non-performing Assets As of June 30, 2026 As of December 31, 2025 (Dollars in thousands) Non-accrual loans $ 183,199 $ 78,002 Loans past due 90 days or more (principal or interest payments) 2,126 6,980 Total non-performing loans 185,325 84,982 Other non-performing assets Foreclosed assets held for sale, net 42,139 39,831 Other non-performing assets 1,140 — Total other non-performing assets 43,279 39,831 Total non-performing assets $ 228,604 $ 124,813 Allowance for credit losses to non-accrual loans 179.24 % 381.51 % Allowance for credit losses to non-performing loans 177.19 350.17 Non-accrual loans to total loans 1.07 0.50 Non-performing loans to total loans 1.08 0.54 Non-performing assets to total assets 0.93 0.55 79 Table of Contents Our non-performing loans are comprised of non-accrual loans and accruing loans that are contractually past due 90 days. Our bank subsidiary recognizes income principally on the accrual basis of accounting. When loans are classified as non-accrual, the accrued interest is charged off and no further interest is accrued, unless the credit characteristics of the loan improve. If a loan is determined by management to be uncollectible, the portion of the loan determined to be uncollectible is then charged to the allowance for credit losses. Our non-performing loans were $185.3 million, or 1.08% of total loans as of June 30, 2026, compared to $85.0 million, or 0.54% of total loans, as of December 31, 2025. The allowance for credit losses as a percentage of non-performing loans decreased to 177.19% as of June 30, 2026, from 350.17% as of December 31, 2025. As of June 30, 2026, our non-performing assets increased to $228.6 million, or 0.93% of total assets, from $124.8 million, or 0.55% of total assets, as of December 31, 2025. The increase in non-performing loans and assets was primarily due to one loan relationship with a balance of $92.1 million being placed on non-accrual status during the quarter ended March 31, 2026. Table 12 below shows the non-performing loans and non-performing assets by region as of June 30, 2026 and December 31, 2025: Table 12: Non-performing Assets By Region As of June 30, 2026 (in thousands) Arkansas Florida Texas Tennessee Alabama Shore Premier Finance Centennial CFG Total Non-accrual loans $ 19,529 $ 24,235 $ 123,170 $ 4,335 $ 44 $ 11,886 $ — $ 183,199 Loans 90+ days past due 238 282 690 916 — — — 2,126 Total non-performing loans $ 19,767 $ 24,517 $ 123,860 $ 5,251 $ 44 $ 11,886 $ — $ 185,325 Foreclosed assets held for sale 2,028 260 15,647 1,392 — — 22,812 42,139 Other non-performing assets — — — — — 1,140 — 1,140 Total other non-performing assets 2,028 260 15,647 1,392 — 1,140 22,812 43,279 Total non-performing assets $ 21,795 $ 24,777 $ 139,507 $ 6,643 $ 44 $ 13,026 $ 22,812 $ 228,604 As of December 31, 2025 (in thousands) Arkansas Florida Texas Alabama Shore Premier Finance Centennial CFG Total Non-accrual loans $ 18,234 $ 24,645 $ 24,234 $ 54 $ 10,048 $ 787 $ 78,002 Loans 90+ days past due 291 1,020 2,383 — 3,286 — 6,980 Total non-performing loans $ 18,525 $ 25,665 $ 26,617 $ 54 $ 13,334 $ 787 $ 84,982 Foreclosed assets held for sale 771 260 15,988 — — 22,812 39,831 Total other non-performing assets 771 260 15,988 — — 22,812 39,831 Total non-performing assets $ 19,296 $ 25,925 $ 42,605 $ 54 $ 13,334 $ 23,599 $ 124,813 Debt restructuring generally occurs when a borrower is experiencing, or is expected to experience, financial difficulties in the near term. As a result, we will work with the borrower to prevent further difficulties, and ultimately to improve the likelihood of recovery on the loan. In those circumstances it may be beneficial to restructure the terms of a loan and work with the borrower for the benefit of both parties, versus forcing the property into foreclosure and having to dispose of it in potentially an unfavorable and depressed real estate market. When we have modified the terms of a loan, we usually either reduce the monthly payment and/or interest rate for generally about three to twelve months. For our restructured loans that accrue interest at the time the loan is restructured, it would be a rare exception to have charged-off any portion of the loan. As of June 30, 2026, we had $4.7 million of restructured loans that are in compliance with the modified terms and are not reported as past due or non-accrual. Our Arkansas market contains $2.0 million, our Florida market contains $1.2 million and our Texas market contains $1.5 million of these restructured loans. 80 Table of Contents A loan modification that might not otherwise be considered may be granted. These loans can involve loans remaining on non-accrual, moving to non-accrual, or continuing on an accrual status, depending on the individual facts and circumstances of the borrower. Generally, a non-accrual loan that is restructured remains on non-accrual for a period of three months to demonstrate that the borrower can meet the restructured terms. However, performance prior to the restructuring, or significant events that coincide with the restructuring, are considered in assessing whether the borrower can pay under the new terms and may result in the loan being returned to an accrual status after a shorter performance period. If the borrower’s ability to meet the revised payment schedule is not reasonably assured, the loan will remain in a non-accrual status. The Company closely monitors the performance of the loans that are modified to borrowers experiencing financial difficulty to understand the effectiveness of its modification efforts. The Company has modified 10 loans over the past 12 months to borrowers experiencing financial difficulty. The pre-modification balance of the loans was $1.1 million, and the ending balance as of June 30, 2026 was $1.0 million. The $1.0 million balance consists of $487,000 of non-accrual loans and $532,000 of current loans as of June 30, 2026. The Company had $223.5 million and $219.4 million in impaired loans (which includes loans individually analyzed for credit losses for which a specific reserve has been recorded, non-accrual loans, loans past due 90 days or more and restructured loans made to borrowers experiencing financial difficulty) for the periods ended June 30, 2026 and December 31, 2025, respectively. As of June 30, 2026, our Arkansas, Florida, Texas, Tennessee, Alabama, SPF and Centennial CFG markets accounted for approximately $25.4 million, $25.7 million, $155.2 million, $5.3 million, $44,000, $11.9 million and zero of the impaired loans, respectively. Total foreclosed assets held for sale were $42.1 million as of June 30, 2026, compared to $39.8 million as of December 31, 2025, for an increase of $2.3 million. The foreclosed assets held for sale as of June 30, 2026 are comprised of $2.0 million located in Arkansas, $260,000 located in Florida, $15.6 million located in Texas, $1.4 million located in Tennessee, zero in Alabama, zero in SPF and $22.8 million in Centennial CFG. The majority of the foreclosed assets held for sale is comprised of two properties. The first is an office building located in Santa Monica, California with a carrying value of $22.8 million. The second is an apartment complex in Gunter, Texas with a carrying value of $15.0 million. These two properties account for $37.8 million of the balance of foreclosed assets held for sale at June 30, 2026. Table 13 shows the summary of foreclosed assets held for sale as of June 30, 2026 and December 31, 2025. Table 13: Foreclosed Assets Held For Sale As of June 30, 2026 As of December 31, 2025 (In thousands) Commercial real estate loans Non-farm/non-residential $ 23,911 $ 23,433 Construction/land development 16,024 15,230 Residential real estate loans Residential 1-4 family 2,204 1,168 Total foreclosed assets held for sale $ 42,139 $ 39,831 81 Table of Contents Past Due and Non-Accrual Loans Table 14 shows the summary of non-accrual loans as of June 30, 2026 and December 31, 2025: Table 14: Total Non-Accrual Loans As of June 30, 2026 As of December 31, 2025 (In thousands) Real estate: Commercial real estate loans Non-farm/non-residential $ 56,071 $ 21,685 Construction/land development 8,179 5,444 Agricultural 1,670 489 Residential real estate loans Residential 1-4 family 26,255 24,149 Multifamily residential 12,391 10,925 Total real estate 104,566 62,692 Consumer 12,138 10,326 Commercial and industrial 65,227 3,760 Agricultural & other 1,268 1,224 Total non-accrual loans $ 183,199 $ 78,002 If non-accrual loans had been accruing interest in accordance with the original terms of their respective agreements, interest income of approximately $3.8 million and $1.8 million, respectively, would have been recorded for the three-month periods ended June 30, 2026 and 2025. If non-accrual loans had been accruing interest in accordance with the original terms of their respective agreements, interest income of approximately $7.6 million and $3.5 million, respectively, would have been recorded for the six-month periods ended June 30, 2026 and 2025. The interest income recognized on non-accrual loans for the three months ended June 30, 2026 and 2025 was considered immaterial. Table 15 shows the summary of accruing past due loans 90 days or more as of June 30, 2026 and December 31, 2025: Table 15: Loans Accruing Past Due 90 Days or More As of June 30, 2026 As of December 31, 2025 (In thousands) Real estate: Commercial real estate loans Non-farm/non-residential $ 491 $ — Construction/land development — 405 Residential real estate loans Residential 1-4 family 1,276 2,321 Total real estate 1,767 2,726 Consumer 16 3,290 Commercial and industrial 331 964 Agricultural & Other 12 — Total loans accruing past due 90 days or more $ 2,126 $ 6,980 Our ratio of total loans accruing past due 90 days or more and non-accrual loans to total loans was 1.08% and 0.54% at June 30, 2026 and December 31, 2025, respectively. 82 Table of Contents Allowance for Credit Losses Overview. The allowance for credit losses on loans receivable was $328.4 million and $297.6 million at June 30, 2026 and December 31, 2025, respectively. The Company completed the acquisition of MCBI on April 1, 2026. Pursuant to ASC 326 and ASU 2025‑08, the Company established an acquisition-date allowance for credit losses of $31.3 million using the gross-up approach, consisting of $7.6 million related to PCD loans and $23.7 million related to PSLs. The acquisition-date allowance was recorded as an adjustment to the amortized cost basis of the acquired loans and did not result in provision for credit losses expense upon acquisition. The specific reserve for loans individually analyzed for credit losses was $18.4 million on $197.2 million of individually analyzed loans as of June 30, 2026, compared to a specific reserve of $17.0 million on $186.5 million of individually analyzed loans as of December 31, 2025. The amortized cost balance for loans with a specific allocation decreased from $71.3 million to $57.9 million from December 31, 2025 to June 30, 2026. The allowance for credit losses as a percentage of loans was 1.92% and 1.90% at June 30, 2026 and December 31, 2025, respectively. Loans Collectively Evaluated for Credit Loss. Loans receivable collectively evaluated for credit loss increased by approximately $1.43 billion from $15.50 billion at December 31, 2025 to $16.93 billion at June 30, 2026. The increase was primarily due to the acquisition of MCBI on April 1, 2026, which included $1.47 billion in loans, including the effects of the known purchase accounting adjustments. The percentage of the allowance for credit losses allocated to loans receivable collectively evaluated for credit loss to the total loans collectively evaluated for credit loss was 1.83% and 1.81% at June 30, 2026 and December 31, 2025, respectively. Charge-offs and Recoveries. For the three months ended June 30, 2026, total charge-offs were $6.5 million and total recoveries were $722,000, for a net charge-off position of $5.8 million. For the six months ended June 30, 2026, total charge-offs were $9.4 million and total recoveries were $2.1 million, for a net charge-off position of $7.2 million. For the three months ended June 30, 2025, total charge-offs were $4.1 million and total recoveries were $3.0 million, for a net charge-off position of $1.1 million. For the six months ended June 30, 2025, total charge-offs were $7.5 million and total recoveries were $10.5 million, for a net recovery position of $3.0 million. Table 16 below shows charge-off and recovery detail by region for the six months ended June 30, 2026 and 2025. Table 16: Charge-Off and Recovery Detail By Region For the Three Months Ended June 30, 2026 (in thousands) Arkansas Florida Texas Tennessee Alabama Shore Premier Finance Centennial CFG Total Charge-offs $ 2,605 $ 286 $ 1,708 $ 11 $ 14 $ 1,896 $ — $ 6,520 Recoveries (324) (142) (249) — (2) (5) — (722) Net charge-offs (recoveries) $ 2,281 $ 144 $ 1,459 $ 11 $ 12 $ 1,891 $ — $ 5,798 For the Six Months Ended June 30, 2026 (in thousands) Arkansas Florida Texas Tennessee Alabama Shore Premier Finance Centennial CFG Total Charge-offs $ 3,587 $ 423 $ 3,428 $ 11 $ 24 $ 1,896 $ — $ 9,369 Recoveries (602) (196) (1,037) — (5) (282) — (2,122) Net charge-offs (recoveries) $ 2,985 $ 227 $ 2,391 $ 11 $ 19 $ 1,614 $ — $ 7,247 83 Table of Contents For the Three Months Ended June 30, 2025 (in thousands) Arkansas Florida Texas Alabama Shore Premier Finance Centennial CFG Total Charge-offs $ 462 $ 245 $ 2,588 $ 13 $ 582 $ 181 $ 4,071 Recoveries (223) (577) (2,172) (2) (22) — (2,996) Net charge-offs (recoveries) $ 239 $ (332) $ 416 $ 11 $ 560 $ 181 $ 1,075 For the Six Months Ended June 30, 2025 (in thousands) Arkansas Florida Texas Alabama Shore Premier Finance Centennial CFG Total Charge-offs $ 936 $ 2,724 $ 3,032 $ 21 $ 635 $ 181 $ 7,529 Recoveries (451) (694) (8,686) (4) (25) (658) (10,518) Net charge-offs (recoveries) $ 485 $ 2,030 $ (5,654) $ 17 $ 610 $ (477) $ (2,989) Loans partially charged-off are placed on non-accrual status until it is proven that the borrower's repayment ability with respect to the remaining principal balance can be reasonably assured. This is usually established over a period of 6-12 months of timely payment performance. 84 Table of Contents Table 17 shows the allowance for credit losses, charge-offs and recoveries as of and for the three and six months ended June 30, 2026 and 2025. Table 17: Analysis of Allowance for Credit Losses Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 (Dollars in thousands) Balance, beginning of period $ 297,634 $ 279,944 $ 297,583 $ 275,880 Allowance for credit losses on acquired loans - MCBI 31,333 — 31,333 — Loans charged off Real estate: Commercial real estate loans: Non-farm/non-residential 2,214 19 2,671 2,319 Construction/land development — 70 — 70 Agricultural — — 1 — Residential real estate loans: Residential 1-4 family 224 54 617 129 Total real estate 2,438 143 3,289 2,518 Consumer 1,914 785 1,991 1,015 Commercial and industrial 1,419 2,369 2,745 2,530 Other 749 774 1,344 1,466 Total loans charged off 6,520 4,071 9,369 7,529 Recoveries of loans previously charged off Real estate: Commercial real estate loans: Non-farm/non-residential 47 1,629 659 7,789 Construction/land development 25 416 45 541 Agricultural — — 5 — Residential real estate loans: Residential 1-4 family 190 12 208 63 Total real estate 262 2,057 917 8,393 Consumer 26 49 343 68 Commercial and industrial 158 615 349 1,573 Other 276 275 513 484 Total recoveries 722 2,996 2,122 10,518 Net loans charged off (recovered) 5,798 1,075 7,247 (2,989) Provision for credit loss 5,200 3,000 6,700 3,000 Ending balance $ 328,369 $ 281,869 $ 328,369 $ 281,869 Net charge-offs (recoveries) to average loans receivable 0.14 % 0.03 % 0.09 % (0.04) % Allowance for credit losses to total loans 1.92 1.86 1.92 1.86 Allowance for credit losses to net charge-offs (recoveries) 1,411.99 6,537.13 2,246.93 (4,676.35) 85 Table of Contents Table 18 presents the allocation of allowance for credit losses as of June 30, 2026 and December 31, 2025. Table 18: Allocation of Allowance for Credit Losses As of June 30, 2026 As of December 31, 2025 Allowance Amount % of loans (1) Allowance Amount % of loans (1) (Dollars in thousands) Real estate: Commercial real estate loans: Non-farm/non- residential $ 97,348 34.6 % $ 74,172 33.7 % Construction/land development 51,506 16.2 48,023 17.4 Agricultural residential real estate loans 3,096 1.9 3,048 2.1 Residential real estate loans: Residential 1-4 family 59,895 14.9 46,291 13.6 Multifamily residential 26,255 7.4 26,401 7.3 Total real estate 238,100 75.0 197,935 74.1 Consumer 23,876 7.5 28,993 8.0 Commercial and industrial 57,828 13.3 64,396 14.2 Agricultural 1,790 2.1 1,536 2.3 Other 6,775 2.1 4,723 1.4 Total $ 328,369 100.0 % $ 297,583 100.0 % (1) Percentage of loans in each category to total loans receivable. During the first quarter of 2026, the Company implemented updated allowance for credit loss models as part of the annual model review and challenge process. The allowance calculation called for a higher level of reserves for the CRE portfolio and a corresponding reduction in reserves for the commercial and industrial portfolio as well as the consumer portfolio. Investment Securities Our securities portfolio is the second largest component of earning assets and provides a significant source of revenue. Securities within the portfolio are classified as held-to-maturity, available-for-sale, or trading based on the intent and objective of the investment and the ability to hold to maturity. Fair values of securities are based on quoted market prices where available. If quoted market prices are not available, estimated fair values are based on quoted market prices of comparable securities. The estimated effective duration of our securities portfolio was 4.7 years as of June 30, 2026. On April 1, 2026, the Company completed the acquisition of MCBI. Including the effects of the known purchase accounting adjustments, as of the acquisition date, MCBI had approximately $103.3 million in investments. The Company classified the entire balance of investments acquired from MCBI as available-for-sale at the acquisition date. Securities held-to-maturity, which include any security for which we have the positive intent and ability to hold until maturity, are reported at historical cost adjusted for amortization of premiums and accretion of discounts. Premiums and discounts are amortized/accreted to the call date to interest income using the constant effective yield method over the estimated life of the security. We had $1.25 billion and $1.26 billion of held-to-maturity securities at June 30, 2026 and December 31, 2025, respectively. The detail of the held-to-maturity portfolio by carrying amount and percentage of the portfolio at June 30, 2026 and December 31, 2025 can be seen below. 86 Table of Contents Table 19: Held to Maturity Securities June 30, 2026 December 31, 2025 Net Carrying Amount Percentage of Total Net Carrying Amount Percentage of Total (In Thousands) (In Thousands) U.S. government-sponsored enterprises $ 43,984 3.5 % $ 43,841 3.5 % U.S. government-sponsored mortgage-backed securities 110,969 8.8 % 114,813 9.1 % State and political subdivisions 1,099,849 87.7 % 1,100,608 87.4 % Total $ 1,254,802 100.0 % $ 1,259,262 100.0 % Securities available-for-sale are reported at fair value with unrealized holding gains and losses reported as a separate component of stockholders’ equity as other comprehensive (loss) income. Securities that may be sold in response to interest rate changes, changes in prepayment risk, the need to increase regulatory capital, and other similar factors are classified as available-for-sale. Available-for-sale securities were $2.78 billion and $2.87 billion as of June 30, 2026 and December 31, 2025, respectively. The detail of the available-for-sale portfolio by estimated fair value and percentage of the portfolio at June 30, 2026 and December 31, 2025 can be seen below. Table 20: Available for Sale Securities June 30, 2026 December 31, 2025 Estimated Fair Value Percentage of Total Estimated Fair Value Percentage of Total (In Thousands) (In Thousands) U.S. government-sponsored enterprises $ 204,386 7.4 % $ 240,782 8.4 % U.S. government-sponsored mortgage-backed securities 1,159,938 41.8 % 1,212,948 42.2 % Private mortgage-backed securities 167,761 6.0 % 145,720 5.1 % Non-government-sponsored asset backed securities 96,881 3.5 % 157,844 5.5 % State and political subdivisions 905,333 32.6 % 887,838 30.9 % Other securities 241,917 8.7 % 226,799 7.9 % Total $ 2,776,216 100.0 % $ 2,871,931 100.0 % During the three and six months ended June 30, 2026, the Company determined no allowance for credit losses on the available-for-sale portfolio was necessary. The Company also determined the $2.0 million allowance for credit losses on the held-to-maturity portfolio was adequate. Therefore, no provision was considered necessary for either portfolio. See Note 3 to the Condensed Notes to Consolidated Financial Statements for the carrying value and fair value of investment securities. Deposits On April 1, 2026, the Company completed the acquisition of MCBI. Including the effects of the known purchase accounting adjustments, as of the acquisition date, MCBI had approximately $1.54 billion in deposits. Our deposits averaged $18.92 billion and $17.41 billion for the three months ended June 30, 2026 and June 30, 2025, respectively. Our deposits averaged $18.22 billion and $17.30 billion for the six months ended June 30, 2026 and June 30, 2025, respectively. Total deposits were $19.11 billion as of June 30, 2026, and $17.48 billion as of December 31, 2025. Deposits are our primary source of funds. We offer a variety of products designed to attract and retain deposit customers. Those products consist of checking accounts, regular savings deposits, NOW accounts, money market accounts and certificates of deposit. Deposits are gathered from individuals, partnerships and corporations in our market areas. In addition, we obtain deposits from state and local entities and, to a lesser extent, U.S. Government and other depository institutions. 87 Table of Contents Our policy also permits the acceptance of brokered deposits. From time to time, when appropriate in order to fund strong loan demand, we accept brokered time deposits, generally in denominations of less than $250,000, from a regional brokerage firm, and other national brokerage networks. We also participate in the One-Way Buy Insured Cash Sweep ("ICS") service and similar services, which provide for one-way buy transactions among banks for the purpose of purchasing cost-effective floating-rate funding without collateralization or stock purchase requirements. Management believes these sources represent a reliable and cost-efficient alternative funding source for the Company. However, to the extent that our condition or reputation deteriorates, or to the extent that there are significant changes in market interest rates which we do not elect to match, we may experience an outflow of brokered deposits. In that event we would be required to obtain alternate sources for funding. Table 21 reflects the classification of the brokered deposits as of June 30, 2026 and December 31, 2025. Table 21: Brokered Deposits June 30, 2026 December 31, 2025 (In thousands) Time Deposits $ 143,491 $ — Insured Cash Sweep and Other Transaction Accounts 443,822 435,678 Total Brokered Deposits $ 587,313 $ 435,678 The interest rates paid are competitively priced for each particular deposit product and structured to meet our funding requirements. We will continue to manage interest expense through deposit pricing. We may allow higher rate deposits to run off during periods of limited loan demand. We believe that additional funds can be attracted, and deposit growth can be realized through deposit pricing if we experience increased loan demand or other liquidity needs. The Federal Reserve Board sets various benchmark rates, including the Federal Funds rate, and thereby influences the general market rates of interest, including the deposit and loan rates offered by financial institutions. The Federal Reserve reduced the target rate three times during 2025. First, on September 17, 2025, the Federal Reserve reduced the target rate to 4.00% to 4.25%, second, on October 29, 2025, the target rate was reduced to 3.75% to 4.00% and third, on December 10, 2025, the target rate was reduced to 3.50% to 3.75%. The Federal Reserve has not changed the target rate during 2026. Table 22 reflects the classification of the average deposits and the average rate paid on each deposit category, which are in excess of 10 percent of average total deposits, for the three and six months ended June 30, 2026 and 2025. Table 22: Average Deposit Balances and Rates Three Months Ended June 30, 2026 2025 Average Amount Average Rate Paid Average Amount Average Rate Paid (Dollars in thousands) Non-interest-bearing transaction accounts $ 4,222,813 — % $ 3,981,901 — % Interest-bearing transaction accounts 11,152,152 2.38 10,428,530 2.66 Savings deposits 1,240,252 0.82 1,113,111 0.72 Time deposits: Certificates of deposit 2,185,011 3.35 1,778,847 3.78 IRAs 116,674 1.86 107,300 2.51 Total $ 18,916,902 1.85 % $ 17,409,689 2.04 % 88 Table of Contents Six Months Ended June 30, 2026 2025 Average Amount Average Rate Paid Average Amount Average Rate Paid (Dollars in thousands) Non-interest-bearing transaction accounts $ 4,040,665 — % $ 3,981,425 — % Interest-bearing transaction accounts 10,962,933 2.37 10,369,523 2.66 Savings deposits 1,169,203 0.76 1,103,025 0.71 Time deposits: Certificates of deposit 1,940,811 3.37 1,736,287 3.86 IRAs 109,180 2.05 107,772 2.54 Total $ 18,222,792 1.84 % $ 17,298,032 2.04 % Securities Sold Under Agreements to Repurchase We enter into short-term purchases of securities under agreements to resell (resale agreements) and sales of securities under agreements to repurchase (repurchase agreements) of substantially identical securities. The amounts advanced under resale agreements and the amounts borrowed under repurchase agreements are carried on the balance sheet at the amount advanced. Interest incurred on repurchase agreements is reported as interest expense. Securities sold under agreements to repurchase increased $2.9 million, or 1.9%, from $155.8 million as of December 31, 2025 to $158.7 million as of June 30, 2026. FHLB and Other Borrowed Funds The Company’s FHLB borrowed funds, which are secured by our loan portfolio, were $450.0 million and $500.0 million at June 30, 2026 and December 31, 2025, respectively. At June 30, 2026, $50.0 million and $400.0 million of the outstanding balances were classified as short-term and long-term advances, respectively. At December 31, 2025, $100.0 million and $400.0 million of the outstanding balances were classified as short-term and long-term advances, respectively. The FHLB advances mature from 2026 to 2037 with fixed interest rates ranging from 3.37% to 4.67%. Expected maturities could differ from contractual maturities because FHLB may have the right to call, or the Company may have the right to prepay certain obligations. Other borrowed funds were $250,000 at both June 30, 2026 and December 31, 2025. These were classified as short-term advances. Additionally, the Company had $1.85 billion and $1.48 billion at June 30, 2026 and December 31, 2025, respectively, in letters of credit under a FHLB blanket borrowing line of credit, which are used to collateralize public deposits. Subordinated Debentures Subordinated debentures were $279.6 million and $279.3 million as of June 30, 2026 and December 31, 2025, respectively. Subordinated Debt Securities . On January 18, 2022, the Company completed an underwritten public offering of $300.0 million in aggregate principal amount of its 3.125% Fixed-to-Floating Rate Subordinated Notes due 2032 (the "2032 Notes") for net proceeds, after underwriting discounts and issuance costs of approximately $296.4 million. The 2032 Notes are unsecured, subordinated debt obligations of the Company and will mature on January 30, 2032. From and including the date of issuance to, but excluding January 30, 2027 or the date of earlier redemption, the 2032 Notes will bear interest at an initial rate of 3.125% per annum, payable in arrears on January 30 and July 30 of each year. From and including January 30, 2027 to, but excluding, the maturity date or earlier redemption, the 2032 Notes will bear interest at a floating rate equal to the Benchmark rate (which is expected to be Three-Month Term SOFR), each as defined in and subject to the provisions of the applicable supplemental indenture for the 2032 Notes, plus 182 basis points, payable quarterly in arrears on January 30, April 30, July 30, and October 30 of each year, commencing on April 30, 2027. 89 Table of Contents The Company may, beginning with the interest payment date of January 30, 2027, and on any interest payment date thereafter, redeem the 2032 Notes, in whole or in part, subject to prior approval of the Federal Reserve if then required, at a redemption price equal to 100% of the principal amount of the 2032 Notes to be redeemed plus accrued and unpaid interest to but excluding the date of redemption. The Company may also redeem the 2032 Notes at any time, including prior to January 30, 2027, at the Company’s option, in whole but not in part, subject to prior approval of the Federal Reserve if then required, if certain events occur that could impact the Company’s ability to deduct interest payable on the 2032 Notes for U.S. federal income tax purposes or preclude the 2032 Notes from being recognized as Tier 2 capital for regulatory capital purposes, or if the Company is required to register as an investment company under the Investment Company Act of 1940, as amended. In each case, the redemption would be at a redemption price equal to 100% of the principal amount of the 2032 Notes plus any accrued and unpaid interest to, but excluding, the redemption date. On September 4, 2025, the Company repurchased $20.0 million of the 2032 Notes in an open-market transaction. The repurchase resulted in a $1.9 million gain. Stockholders’ Equity Stockholders’ equity increased $250.6 million to $4.55 billion as of June 30, 2026, from $4.30 billion as of December 31, 2025. The $250.6 million increase in stockholders’ equity is primarily associated with the $146.0 million in common stock issued to MCBI shareholders for the acquisition of MCBI on April 1, 2026 and the $237.5 million in net income for the six months ended June 30, 2026, which was partially offset by the $3.1 million in other comprehensive loss, the $83.5 million in shareholder dividends paid and stock repurchases of $54.7 million in 2026. As of June 30, 2026 and December 31, 2025, our equity to asset ratio was 18.40% and 18.78%, respectively. Book value per share was $22.68 as of June 30, 2026, compared to $21.88 as of December 31, 2025, a 7.4% annualized increase. Common Stock Cash Dividends. We declared cash dividends on our common stock of $0.21 and $0.20 per share for the three months ended June 30, 2026 and 2025, respectively, and $0.42 and $0.395 per share for the six months ended June 30, 2026 and 2025, respectively. The common stock dividend payout ratio for the three months ended June 30, 2026 and 2025 was 35.4% and 33.4%, respectively. The common stock dividend payout ratio for the six months ended June 30, 2026 and 2025 was 35.2% and 33.5%, respectively. On July 17, 2026, the Board of Directors declared a regular $0.23 per share quarterly cash dividend payable September 2, 2026, to shareholders of record August 12, 2026. Stock Repurchase Program. During the six months ended June 30, 2026, the Company repurchased a total of 2,007,622 shares with a weighted-average stock price of $27.04 per share. Shares repurchased under the program as of June 30, 2026 since its inception total 31,405,835 shares. The remaining balance available for repurchase was 15,101,672 shares at June 30, 2026. Liquidity and Capital Adequacy Requirements Risk-Based Capital. We, as well as our bank subsidiary, are subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and other discretionary actions by regulators that, if enforced, could have a direct material effect on our financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, we must meet specific capital guidelines that involve quantitative measures of our assets, liabilities and certain off-balance-sheet items as calculated under regulatory accounting practices. Our capital amounts and classifications are also subject to qualitative judgments by the regulators as to components, risk weightings and other factors. In July 2013, the Federal Reserve Board and the other federal bank regulatory agencies issued a final rule to revise their risk-based and leverage capital requirements and their method for calculating risk-weighted assets to make them consistent with the agreements that were reached by the Basel Committee on Banking Supervision in "Basel III: A Global Regulatory Framework for More Resilient Banks and Banking Systems" and certain provisions of the Dodd-Frank Act ("Basel III"). Basel III applies to all depository institutions, bank holding companies with total consolidated assets of $500 million or more, and savings and loan holding companies. Basel III became effective for the Company and its bank subsidiary on January 1, 2015. Basel III limits a banking organization’s capital distributions and certain discretionary bonus payments if the banking organization does not hold a "capital conservation buffer" of 2.5% of common equity Tier 1 capital to risk-weighted assets, which is in addition to the amount necessary to meet its minimum risk-based capital requirements. Basel III amended the prompt corrective action rules to incorporate a common equity Tier 1 ("CET1") capital requirement and to raise the capital requirements for certain capital categories. In order to be adequately capitalized for purposes of the prompt corrective action rules, a banking organization is required to have at least a 4.5% CET1 risk-based capital ratio, a 4% Tier 1 leverage ratio, a 6% Tier 1 risk-based capital ratio and an 8% total risk-based capital ratio. 90 Table of Contents Quantitative measures established by regulation to ensure capital adequacy require us to maintain minimum amounts and ratios (set forth in the table below) of total and Tier 1 capital to risk-weighted assets, and of Tier 1 capital to average assets. Management believes that, as of June 30, 2026 and December 31, 2025, we met all regulatory capital adequacy requirements to which we were subject. Table 23 presents our risk-based capital ratios on a consolidated basis as of June 30, 2026 and December 31, 2025. Table 23: Risk-Based Capital As of June 30, 2026 As of December 31, 2025 (Dollars in thousands) Tier 1 capital Stockholders’ equity $ 4,547,435 $ 4,296,871 Goodwill and core deposit intangibles, net (1,479,247) (1,430,107) Unrealized loss on available-for-sale securities 168,980 165,887 Total common equity Tier 1 capital 3,237,168 3,032,651 Total Tier 1 capital 3,237,168 3,032,651 Tier 2 capital Allowance for credit losses 328,369 297,583 Disallowed allowance for credit losses (limited to 1.25% of risk weighted assets) (79,252) (63,704) Qualifying allowance for credit losses 249,117 233,879 Qualifying subordinated notes 279,602 279,265 Total Tier 2 capital 528,719 513,144 Total risk-based capital $ 3,765,887 $ 3,545,795 Average total assets for leverage ratio $ 23,218,213 $ 21,528,936 Risk weighted assets $ 19,811,980 $ 18,607,517 Ratios at end of period Common equity Tier 1 capital 16.34 % 16.30 % Leverage ratio 13.94 14.09 Tier 1 risk-based capital 16.34 16.30 Total risk-based capital 19.01 19.06 Minimum guidelines – Basel III Common equity Tier 1 capital 7.00 % 7.00 % Leverage ratio 4.00 4.00 Tier 1 risk-based capital 8.50 8.50 Total risk-based capital 10.50 10.50 Well-capitalized guidelines Common equity Tier 1 capital 6.50 % 6.50 % Leverage ratio 5.00 5.00 Tier 1 risk-based capital 8.00 8.00 Total risk-based capital 10.00 10.00 As of the most recent notification from regulatory agencies, our bank subsidiary was "well-capitalized" under the regulatory framework for prompt corrective action. To be categorized as "well-capitalized," we, as well as our banking subsidiary, must maintain minimum CET1 capital, leverage, Tier 1 risk-based capital, and total risk-based capital ratios as set forth in the table. There are no conditions or events since that notification that we believe have changed the bank subsidiary’s category. 91 Table of Contents Non-GAAP Financial Measurements Our accounting and reporting policies conform to generally accepted accounting principles in the United States ("GAAP") and the prevailing practices in the banking industry. However, this report contains financial information determined by methods other than in accordance with GAAP, including earnings, as adjusted; diluted earnings per common share, as adjusted; tangible book value per share; return on average assets, excluding intangible amortization; return on average assets, as adjusted; return on average common equity, as adjusted; return on average tangible equity, excluding intangible amortization; return on average tangible equity, as adjusted; tangible equity to tangible assets; and efficiency ratio, as adjusted. We believe these non-GAAP measures and ratios, when taken together with the corresponding GAAP measures and ratios, provide meaningful supplemental information regarding our performance. We believe investors benefit from referring to these non-GAAP measures and ratios in assessing our operating results and related trends, and when planning and forecasting future periods. However, these non-GAAP measures and ratios should be considered in addition to, and not as a substitute for or preferable to, ratios prepared in accordance with GAAP. The tables below present non-GAAP reconciliations of earnings, as adjusted, and diluted earnings per share, as adjusted, as well as the non-GAAP computations of tangible book value per share; return on average assets, excluding intangible amortization; return on average assets, as adjusted; return on average common equity, as adjusted; return on average tangible equity excluding intangible amortization; return on average tangible equity, as adjusted; tangible equity to tangible assets; and efficiency ratio, as adjusted. The items used in these calculations are included in financial results presented in accordance with GAAP. Earnings, as adjusted, and diluted earnings per common share, as adjusted, are meaningful non-GAAP financial measures for management, as they exclude certain items such as merger expenses and/or certain gains and losses. Management believes the exclusion of these items in expressing earnings provides a meaningful foundation for period-to-period and company-to-company comparisons, which management believes will aid both investors and analysts in analyzing our financial measures and predicting future performance. These non-GAAP financial measures are also used by management to assess the performance of our business, because management does not consider these items to be relevant to ongoing financial performance. In Table 24 below, we have provided a reconciliation of the non-GAAP calculation of the financial measure for the periods indicated. 92 Table of Contents Table 24: Earnings, As Adjusted Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 (Dollars in thousands) GAAP net income available to common shareholders (A) $ 119,327 $ 118,403 $ 237,536 $ 233,612 Pre-tax adjustments: Merger and acquisition expenses 12,726 — 13,120 — FDIC special assessment credit — (1,516) (1,697) (1,516) Fair value adjustment for marketable securities (817) 238 431 (204) Special income from equity investment — (3,498) — (7,389) Gain on sale of premises and equipment — (983) — (983) Legal fee reimbursement — (885) — (885) Legal claims expense — 3,300 — 3,300 Recoveries on historic losses — — — — BOLI death benefits (274) (1,243) (274) (1,243) Total pre-tax adjustments 11,635 (4,587) 11,580 (8,920) Tax-effect of adjustments (1) 2,901 (817) 2,888 (1,876) Total adjustments after-tax (B) 8,734 (3,770) 8,692 (7,044) Earnings, as adjusted (C) $ 128,061 $ 114,633 $ 246,228 $ 226,568 Average diluted shares outstanding (D) 201,420 197,765 199,088 198,289 GAAP diluted earnings per share: A/D $ 0.59 $ 0.60 $ 1.19 $ 1.18 Adjustments after-tax: B/D 0.05 (0.02) 0.05 (0.04) Diluted earnings per common share excluding adjustments: C/D $ 0.64 $ 0.58 $ 1.24 $ 1.14 (1) Blended statutory rate of 24.359% for 2026 and 24.433% for 2025. 93 Table of Contents We had $1.48 billion, $1.43 billion and $1.43 billion total goodwill and core deposit intangibles as of June 30, 2026, December 31, 2025 and June 30, 2025, respectively. Because of our level of intangible assets and related amortization expenses, management believes tangible book value per share, return on average assets excluding intangible amortization, return on average tangible equity, return on average tangible equity excluding intangible amortization, and tangible equity to tangible assets are useful in evaluating our company. Management also believes return on average assets, as adjusted, return on average equity, as adjusted, and return on average tangible equity, as adjusted, are meaningful non-GAAP financial measures, as they exclude items such as certain non-interest income and expenses that management believes are not indicative of our primary business operating results. These calculations, which are similar to the GAAP calculations of book value per share, return on average assets, return on average equity, and equity to assets, are presented in Tables 25 through 28, respectively. Table 25: Tangible Book Value Per Share As of June 30, 2026 As of December 31, 2025 (In thousands, except per share data) Book value per share: A/B $ 22.68 $ 21.88 Tangible book value per share: (A-C-D)/B 15.32 14.60 (A) Total equity $ 4,547,435 $ 4,296,871 (B) Shares outstanding 200,460 196,357 (C) Goodwill 1,410,211 1,398,253 (D) Core deposit intangibles 65,541 32,293 Table 26: Return on Average Assets, As Adjusted Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 (Dollars in thousands) Return on average assets: A/D 1.95 % 2.08 % 2.02 % 2.08 % Return on average assets, as adjusted: (A+C)/D 2.09 2.02 2.09 2.02 Return on average assets excluding intangible amortization: B/(D-E) 2.12 2.25 2.18 2.25 (A) Net income $ 119,327 $ 118,403 $ 237,536 $ 233,612 Intangible amortization after-tax 2,185 1,530 3,651 3,077 (B) Earnings excluding intangible amortization $ 121,512 $ 119,933 $ 241,187 $ 236,689 (C) Adjustments after-tax $ 8,734 $ (3,770) $ 8,692 $ (7,044) (D) Average assets 24,525,258 22,797,738 23,756,626 22,673,974 (E) Average goodwill, core deposits and other intangible assets 1,481,989 1,435,480 1,455,903 1,436,492 94 Table of Contents Table 27: Return on Average Equity, As Adjusted Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 (Dollars in thousands) Return on average equity: A/D 10.55 % 11.77 % 10.78 % 11.76 % Return on average common equity, as adjusted: (A+C)/D 11.32 11.39 11.18 11.40 Return on average tangible common equity: A/(D-E) 15.67 18.26 16.03 18.33 Return on average tangible equity excluding intangible amortization: B/(D-E) 15.96 18.50 16.28 18.57 Return on average tangible common equity, as adjusted: (A+C)/(D-E) 16.82 17.68 16.62 17.77 (A) Net income $ 119,327 $ 118,403 $ 237,536 $ 233,612 (B) Earnings excluding intangible amortization 121,512 119,933 241,187 236,689 (C) Adjustments after-tax 8,734 (3,770) 8,692 (7,044) (D) Average equity 4,535,712 4,036,155 4,443,237 4,007,075 (E) Average goodwill, core deposits and other intangible assets 1,481,989 1,435,480 1,455,903 1,436,492 Table 28: Tangible Equity to Tangible Assets As of June 30, 2026 As of December 31, 2025 (Dollars in thousands) Equity to assets: B/A 18.40 % 18.78 % Tangible equity to tangible assets: (B-C-D)/(A-C-D) 13.22 13.36 (A) Total assets $ 24,713,248 $ 22,881,879 (B) Total equity 4,547,435 4,296,871 (C) Goodwill 1,410,211 1,398,253 (D) Core deposit intangibles 65,541 32,293 The efficiency ratio is a standard measure used in the banking industry and is calculated by dividing non-interest expense less amortization of core deposit intangibles by the sum of net interest income on a tax equivalent basis and non-interest income. The efficiency ratio, as adjusted, is a meaningful non-GAAP measure for management, as it excludes certain items and is calculated by dividing non-interest expense less amortization of core deposit intangibles by the sum of net interest income on a tax equivalent basis and non-interest income excluding items such as merger expenses and/or certain gains, losses and other non-interest income and expenses. In Table 29 below, we have provided a reconciliation of the non-GAAP calculation of the financial measure for the periods indicated. 95 Table of Contents Table 29: Efficiency Ratio, As Adjusted Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 (Dollars in thousands) Net interest income (A) $ 241,643 $ 219,952 $ 465,547 $ 434,608 Non-interest income (B) 53,454 51,079 96,257 96,505 Non-interest expense (C) 135,494 116,040 249,469 228,968 FTE Adjustment (D) 2,653 2,526 5,314 5,060 Amortization of intangibles (E) 2,889 2,025 4,827 4,072 Adjustments: Non-interest income: Fair value adjustment for marketable securities $ 817 $ (238) (431) 204 Special income from equity investments — 3,498 — 7,389 Gain (loss) on OREO, net 332 13 1,039 (363) Gain (loss) on branches, equipment and other assets, net 3 972 (4) 809 BOLI death benefits 274 1,243 274 1,243 Legal expense reimbursement — 885 — 885 Total non-interest income adjustments (F) $ 1,426 $ 6,373 $ 878 $ 10,167 Non-interest expense: FDIC special assessment credit — (1,516) (1,697) (1,516) Merger and acquisition expenses 12,726 — 13,120 — Legal claims expense — 3,300 — 3,300 Total non-interest expense adjustments (G) $ 12,726 $ 1,784 $ 11,423 $ 1,784 Efficiency ratio (reported): ((C-E)/(A+B+D)) 44.54 % 41.68 % 43.14 % 41.94 % Efficiency ratio, as adjusted (non-GAAP): ((C-E-G)/(A+B+D-F)) 40.46 42.01 41.19 42.42 Recently Issued Accounting Pronouncements See Note 22 to the Condensed Notes to Consolidated Financial Statements for a discussion of certain recently issued and recently adopted accounting pronouncements. Item 3: QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK Liquidity and Market Risk Management At June 30, 2026, we held $2.52 billion in assets that could be used for liquidity purposes, which we refer to as net available internal liquidity. This balance consisted of $1.38 billion in unpledged investment securities which could be used for additional secured borrowing capacity, $452.9 million in cash on deposit with the Federal Reserve Bank ("FRB") and $690.3 million in other liquid cash accounts. Consistent with our practice of maintaining access to significant external liquidity, we had $4.24 billion in net available sources of borrowed funds, which we refer to as net available external liquidity, as of June 30, 2026. This included $5.92 billion in total borrowing capacity with the Federal Home Loan Bank ("FHLB"), of which $1.93 billion has been drawn upon in the ordinary course of business, resulting in $3.99 billion in net available liquidity with the FHLB as of June 30, 2026. The $1.93 billion consisted of $450.0 million in outstanding FHLB advances and $1.48 billion used for pledging purposes. We also had access to approximately $160.2 million available borrowing capacity from the Discount Window. As of June 30, 2026, the Company also had access to $35.0 million from First National Bankers’ Bank ("FNBB"), and $55.0 million from other various external sources. Overall, we had $6.76 billion net available liquidity as of June 30, 2026, which consisted of $2.52 billion of net available internal liquidity and $4.24 billion in net available external liquidity. Details on our available liquidity as of June 30, 2026 are available below. 96 Table of Contents Table 30: Available Liquidity (in thousands) Total Available Amount Used Net Availability Internal Sources Unpledged investment securities (market value) $ 1,379,321 $ — $ 1,379,321 Cash at FRB 452,924 — 452,924 Other liquid cash accounts 690,265 — 690,265 Total Internal Liquidity 2,522,510 — 2,522,510 External Sources FHLB 5,922,752 1,934,103 3,988,649 FRB Discount Window 160,244 — 160,244 FNBB 35,000 — 35,000 Other 55,000 — 55,000 Total External Liquidity 6,172,996 1,934,103 4,238,893 Total Available Liquidity $ 8,695,506 $ 1,934,103 $ 6,761,403 We have continued to limit our exposure to uninsured deposits and have been actively monitoring this exposure. As of June 30, 2026, we held approximately $9.28 billion in uninsured deposits of which $1.26 billion were intercompany subsidiary deposit balances and $3.11 billion were collateralized deposits, for a net position of $4.91 billion. This represented approximately 25.7% of total deposits. In addition, net available liquidity exceeded uninsured and uncollateralized deposits by $1.85 billion as of June 30, 2026. Table 31: Uninsured Deposits (in thousands) As of June 30, 2026 Uninsured Deposits $ 9,281,942 Intercompany Subsidiary and Affiliate Balances 1,258,315 Collateralized Deposits 3,111,597 Net Uninsured Position $ 4,912,030 Total Available Liquidity 6,761,403 Net Uninsured Position 4,912,030 Net Available Liquidity in Excess of Uninsured Deposits $ 1,849,373 Asset/Liability Management . Our management actively measures and manages interest rate risk. The asset/liability committees of the boards of directors of our holding company and bank subsidiary are also responsible for approving our asset/liability management policies, overseeing the formulation and implementation of strategies to improve balance sheet positioning and earnings, and reviewing our interest rate sensitivity position. Our objective is to manage liquidity in a way that ensures cash flow requirements of depositors and borrowers are met in a timely and orderly fashion while ensuring the reliance on various funding sources does not become so heavily weighted to any one source that it causes undue risk to the bank. Our liquidity sources are prioritized based on availability and ease of activation. Our current liquidity condition is a primary driver in determining our funding needs and is a key component of our asset and liability management. Various sources of liquidity are available to meet the cash flow needs of depositors and borrowers. Our principal source of funds is core deposits, including checking, savings, money market accounts and certificates of deposit. We may also from time to time obtain wholesale funding through brokered deposits. Secondary sources of funding include advances from the Federal Home Loan Bank of Dallas, the Federal Reserve Bank Discount Window and other borrowings, such as through correspondent banking relationships. These secondary sources enable us to borrow funds at rates and terms which, at times, are more beneficial to us. Additionally, as needed, we can liquidate or utilize our available-for-sale investment portfolio as collateral to provide funds for an intermediate source of liquidity. 97 Table of Contents Interest Rate Sensitivity . Our primary business is banking and the resulting earnings, primarily net interest income, are susceptible to changes in market interest rates. It is management’s goal to maximize net interest income within acceptable levels of interest rate and liquidity risks. A key element in the financial performance of financial institutions is the level and type of interest rate risk assumed. The single most significant measure of interest rate risk is the relationship of the repricing periods of earning assets and interest-bearing liabilities. The more closely the repricing periods are correlated, the less interest rate risk we assume. We use net interest income simulation modeling and economic value of equity as the primary methods in analyzing and managing interest rate risk. One of the tools that our management uses to measure short-term interest rate risk is a net interest income simulation model. This analysis calculates the difference between net interest income forecasted using base market rates and using a rising and a falling interest rate scenario. The income simulation model includes various assumptions regarding the re-pricing relationships for each of our products. Many of our assets are floating rate loans, which are assumed to re-price immediately, and proportional to the change in market rates, depending on their contracted index. Some loans and investments include the opportunity of prepayment (embedded options), and accordingly, the simulation model uses indexes to estimate these prepayments and reinvest their proceeds at current yields. Our non-term deposit products re-price overnight in the model while we project certain other deposits by product type to have stable balances based on our deposit history. This accounts for the portion of our portfolio that moves more slowly than market rates and changes at our discretion. This analysis indicates the impact of changes in net interest income for the given set of rate changes and assumptions. It assumes the balance sheet remains static and that its structure does not change over the course of the year. It does not account for all factors that impact this analysis, including changes by management to mitigate the impact of interest rate changes or secondary impacts such as changes to our credit risk profile as interest rates change. Furthermore, loan prepayment rate estimates and spread relationships change regularly. Interest rate fluctuations create changes in actual loan prepayment rates that will differ from the market estimates incorporated in this analysis. Changes that vary significantly from the assumptions may have significant effects on our net interest income. For the rising and falling interest rate scenarios, the base market interest rate forecast was increased and decreased over twelve months by 200 and 100 basis points, respectively. At June 30, 2026, our net interest margin exposure related to these hypothetical changes in market interest rates was within the current guidelines established by us. Table 32 presents our sensitivity to net interest income as of June 30, 2026 and June 30, 2025. Table 32: Sensitivity of Net Interest Income Percentage Change from Base Percentage Change from Base June 30, Interest Rate Scenario June 30, 2026 June 30, 2025 2026 vs. 2025 Up 200 basis points 11.82 % 10.48 % 1.34 % Up 100 basis points 5.97 5.43 0.54 Down 100 basis points (5.92) (6.08) 0.16 Down 200 basis points (10.48) (11.81) 1.33 There have been no material changes in our market risk exposure from June 30, 2025 to June 30, 2026. Our balance sheet mix has remained consistent. The target rate changes by the Federal Reserve have impacted our earnings, but our net interest income exposure is still within our current guidelines. The Federal Reserve reduced the target rate three times during 2025. First, on September 17, 2025, the Federal Reserve reduced the target rate to 4.00% to 4.25%, second, on October 29, 2025, the target rate was reduced to 3.75% to 4.00% and third, on December 10, 2025, the target rate was reduced to 3.50% to 3.75%. The Federal Reserve has not changed the target rate during 2026. 98 Table of Contents Item 4: CONTROLS AND PROCEDURES Evaluation of Disclosure Controls Based on their evaluation as of the end of the period covered by this Quarterly Report on Form 10-Q, the Chief Executive Officer and Chief Financial Officer have concluded that the disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) of the Securities Exchange Act of 1934) are effective to ensure that information required to be disclosed by us in reports that we file or submit under the Securities Exchange Act of 1934 is recorded, processed, summarized and reported within the time periods specified in Securities and Exchange Commission rules and forms. Additionally, our disclosure controls and procedures were also effective in ensuring that information required to be disclosed in our Exchange Act report is accumulated and communicated to our management, including the Chief Executive Officer and Chief Financial Officer, to allow timely decisions regarding required disclosures. Changes in Internal Control Over Financial Reporting On April 1, 2026, we completed our acquisition of Mountain Commerce Bancorp, Inc. ("MCBI"), and as a result, we extended our oversight and monitoring processes that support our internal control over financial reporting during the second quarter of 2026, to include the operations of MCBI. Otherwise, there were no changes in the Company’s internal controls over financial reporting during the quarter ended June 30, 2026, which have materially affected, or are reasonably likely to materially affect, the Company’s internal control over financial reporting. PART II: OTHER INFORMATION Item 1: Legal Proceedings There are no material pending legal proceedings, other than ordinary routine litigation incidental to its business, to which the Company or its subsidiaries are a party or of which any of their property is the subject. Item 1A: Risk Factors There were no material changes from the risk factors set forth in Part I, Item 1A, "Risk Factors," of our Form 10-K for the year ended December 31, 2025. See the discussion of our risk factors in the Form 10-K, as filed with the SEC. The risks described are not the only risks facing the Company. Additional risks and uncertainties not currently known to us or that we currently deem to be immaterial also may materially adversely affect our business, financial condition and/or operating results. Item 2: Unregistered Sales of Equity Securities and Use of Proceeds During the three months ended June 30, 2026, the Company utilized a portion of its stock repurchase program which was most recently amended and re-approved by the Board of Directors on January 17, 2025, authorizing the repurchase of up to 20,000,000 shares of the Company's common stock. The following table sets forth information with respect to purchases made by or on behalf of the Company of shares of the Company’s common stock during the periods indicated : Period Number of Shares Purchased Average Price Paid Per Share Purchased Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs Maximum Number of Shares That May Yet Be Purchased Under the Plans or Programs (1) April 1 through April 30, 2026 546,639 $ 26.86 546,639 16,055,033 May 1 through May 31, 2026 450,000 26.31 450,000 15,605,033 June 1 through June 30, 2026 503,361 27.60 503,361 15,101,672 Total 1,500,000 1,500,000 (1) The above described stock repurchase program has no expiration date. Item 3: Defaults Upon Senior Securities Not applicable. Item 4: Mine Safety Disclosures Not applicable. 99 Table of Contents Item 5: Other Information During the six months ended June 30, 2026, none of the Company’s directors or officers adopted or terminated a "Rule 10b5-1 trading arrangement" or "non-Rule 10b5-1 trading arrangement," as each term is defined in Item 408(a) of Regulation S-K. Item 6: Exhibits Exhibit No. Description of Exhibit 3.1 Restated Articles of Incorporation of Home BancShares, Inc. (incorporated by reference to Exhibit 3.1 of Home BancShares’s registration statement on Form S-1 (File No. 333-132427), as amended) 3.2 Amendment to the Restated Articles of Incorporation of Home BancShares, Inc. (incorporated by reference to Exhibit 3.2 of Home BancShares’s registration statement on Form S-1 (File No. 333-132427), as amended) 3.3 Second Amendment to the Restated Articles of Incorporation of Home BancShares, Inc. (incorporated by reference to Exhibit 3.3 of Home BancShares’s registration statement on Form S-1 (File No. 333-132427), as amended) 3.4 Third Amendment to the Restated Articles of Incorporation of Home BancShares, Inc. (incorporated by reference to Exhibit 3.4 of Home BancShares’s registration statement on Form S-1 (File No. 333-132427), as amended) 3.5 Fourth Amendment to the Restated Articles of Incorporation of Home BancShares, Inc. (incorporated by reference to Exhibit 3.1 of Home BancShares’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2007, filed on August 8, 2007) 3.6 Fifth Amendment to the Restated Articles of Incorporation of Home BancShares, Inc. (incorporated by reference to Exhibit 4.6 of Home BancShares’s registration statement on Form S-3 (File No. 333-157165)) 3.7 Certificate of Designations of Fixed Rate Cumulative Perpetual Preferred Stock, Series A, filed with the Secretary of State of the State of Arkansas on January 14, 2009 (incorporated by reference to Exhibit 3.1 of Home BancShares’s Current Report on Form 8-K, filed on January 21, 2009) 3.8 Seventh Amendment to the Restated Articles of Incorporation of Home BancShares, Inc. (incorporated by reference to Exhibit 3.1 of Home BancShares’s Current Report on Form 8-K filed on April 19, 2013) 3.9 Eighth Amendment to the Restated Articles of Incorporation of Home BancShares, Inc. (incorporated by reference to Exhibit 3.1 of Home BancShares’s Current Report on Form 8-K filed on April 22, 2016) 3.10 Ninth Amendment to the Restated Articles of Incorporation of Home BancShares, Inc. (incorporated by reference to Exhibit 3.1 of Home BancShares’s Current Report on Form 8-K filed on April 23, 2019) 3.11 Tenth Amendment to the Restated Articles of Incorporation of Home BancShares, Inc. (incorporated by reference to Exhibit 4.11 of Home BancShares’s registration statement on Form S-8 (File No. 333-264409)) 3.12 Eleventh Amendment to the Restated Articles of Incorporation of Home BancShares, Inc. (incorporated by reference to Exhibit 3.12 of Home BancShares's Current Report on Form 10-Q/A for the quarter ended March 31, 2025, filed on May 7, 2025) 3.13 Amended and Restated Bylaws of Home BancShares, Inc. (incorporated by reference to Exhibit 3.1 of Home BancShares’s Current Report on Form 8-K filed on January 28, 2021) 3.14 Amendment to the Amended and Restated Bylaws of Home BancShares, Inc. (incorporated by reference to Exhibit 3.1 of Home BancShares’s Current Report on Form 8-K filed on April 22, 2022) 4.1 Specimen Stock Certificate representing Home BancShares, Inc. Common Stock (incorporated by reference to Exhibit 4.12 of the Company’s registration statement on Form S-3ASR (File No. 333-261495)) 4.2 Instruments defining the rights of security holders including indentures. Home BancShares hereby agrees to furnish to the SEC upon request copies of instruments defining the rights of holders of long-term debt of Home BancShares and its consolidated subsidiaries. No issuance of debt exceeds ten percent of the assets of Home BancShares and its subsidiaries on a consolidated basis. 15 Acknowledgment of Independent Registered Public Accounting Firm* 31.1 CEO Certification Pursuant Rule 13a-14(a)/15d-14(a)* 31.2 CFO Certification Pursuant Rule 13a-14(a)/15d-14(a)* 100 Table of Contents 32.1 CEO Certification Pursuant 18 U.S.C. Section 1350, as adopted pursuant to section 906 of the Sarbanes – Oxley Act of 2002* 32.2 CFO Certification Pursuant 18 U.S.C. Section 1350, as adopted pursuant to section 906 of the Sarbanes – Oxley Act of 2002* 101.INS Inline XBRL Instance Document – the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document.* 101.SCH Inline XBRL Taxonomy Extension Schema Document* 101.CAL InlineXBRL Taxonomy Extension Calculation Linkbase Document* 101.LAB Inline XBRL Taxonomy Extension Label Linkbase Document* 101.PRE Inline XBRL Taxonomy Extension Presentation Linkbase Document* 101.DEF Inline XBRL Taxonomy Extension Definition Linkbase Document* 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) * Filed herewith 101 Table of Contents SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. HOME BANCSHARES, INC. (Registrant) Date: August 7, 2026 /s/ John W. Allison John W. Allison, Chairman and Chief Executive Officer Date: August 7, 2026 /s/ Brian S. Davis Brian S. Davis, Chief Financial Officer Date: August 7, 2026 /s/ Jennifer C. Floyd Jennifer C. Floyd, Chief Accounting Officer 102