FIRST FINANCIAL CORP /IN/ 10-Q

Item 1. Financial Statements FIRST FINANCIAL CORPORATION CONSOLIDATED BALANCE SHEETS (Dollar amounts in thousands, except per share data) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ ​ 2026 ​ ​ ​ 2025 ​ ​ ​ ​ ​ ​ ​ ASSETS ​ ​ ​ ​ ​ Cash and due from banks ​ $ 96,887 ​ $ 130,369 Federal funds sold ​ — ​ 475 Securities available-for-sale ​ 1,170,768 ​ 1,149,526 Loans: ​ ​ ​ ​ ​ Commercial ​ ​ 2,410,989 ​ ​ 2,375,344 Residential ​ ​ 1,301,666 ​ ​ 986,955 Consumer ​ ​ 703,322 ​ ​ 688,135 ​ ​ ​ 4,415,977 ​ ​ 4,050,434 (Less) plus: ​ ​ ​ ​ ​ ​ Net deferred loan (fees)/costs ​ ​ 7,944 ​ ​ 4,869 Allowance for credit losses ​ ​ ( 52,338 ) ​ ​ ( 47,995 ) ​ ​ ​ 4,371,583 ​ ​ 4,007,308 Restricted stock ​ 18,553 ​ 18,536 Accrued interest receivable ​ 27,881 ​ 27,762 Premises and equipment, net ​ 88,692 ​ 78,582 Bank-owned life insurance ​ 136,453 ​ 131,286 Goodwill ​ 98,229 ​ 98,229 Other intangible assets ​ 20,400 ​ 16,234 Other real estate owned ​ 184 ​ 94 Other assets ​ 98,959 ​ 97,725 TOTAL ASSETS ​ $ 6,128,589 ​ $ 5,756,126 LIABILITIES AND SHAREHOLDERS’ EQUITY ​ ​ ​ ​ Deposits: ​ ​ ​ ​ Non-interest-bearing ​ $ 1,139,666 ​ $ 916,473 Interest-bearing: ​ ​ ​ ​ Certificates of deposit exceeding the FDIC insurance limits ​ 135,035 ​ 135,605 Other interest-bearing deposits ​ 3,567,685 ​ 3,499,033 ​ ​ 4,842,386 ​ 4,551,111 Short-term borrowings ​ 349,781 ​ 292,468 Other borrowings ​ 208,756 ​ 188,208 Other liabilities ​ 72,378 ​ 73,470 TOTAL LIABILITIES ​ 5,473,301 ​ 5,105,257 Shareholders’ equity ​ ​ ​ ​ Common stock, $ 0.125 stated value per share; Authorized shares - 40,000,000 ; Issued shares- 16,206,804 in 2026 and 16,190,157 in 2025; Outstanding shares - 11,891,896 in 2026 and 11,880,759 in 2025 ​ 2,021 ​ 2,021 Additional paid-in capital ​ 147,643 ​ 147,442 Retained earnings ​ 754,938 ​ 741,793 Accumulated other comprehensive loss ​ ( 95,276 ) ​ ( 86,681 ) Less: Treasury shares at cost - 4,314,908 in 2026 and 4,309,398 in 2025 ​ ( 154,038 ) ​ ( 153,706 ) TOTAL SHAREHOLDERS’ EQUITY ​ 655,288 ​ 650,869 TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY ​ $ 6,128,589 ​ $ 5,756,126 ​ See accompanying notes. ​ 3 Table of Contents FIRST FINANCIAL CORPORATION CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (Dollar amounts in thousands, except per share data) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ ​ March 31, ​ ​ ​ 2026 ​ ​ ​ 2025 ​ ​ ​ (unaudited) ​ (unaudited) ​ INTEREST INCOME: ​ ​ ​ ​ ​ ​ Loans, including related fees ​ $ 67,521 ​ $ 63,612 ​ Securities: ​ ​ ​ ​ ​ Taxable ​ 6,536 ​ 6,002 ​ Tax-exempt ​ 2,864 ​ 2,604 ​ Other ​ 1,025 ​ 814 ​ TOTAL INTEREST INCOME ​ 77,946 ​ 73,032 ​ INTEREST EXPENSE: ​ ​ ​ ​ ​ Deposits ​ 16,629 ​ 18,199 ​ Short-term borrowings ​ 2,352 ​ 1,693 ​ Other borrowings ​ 2,032 ​ 1,165 ​ TOTAL INTEREST EXPENSE ​ 21,013 ​ 21,057 ​ NET INTEREST INCOME ​ 56,933 ​ 51,975 ​ Provision for credit losses ​ 2,550 ​ 1,950 ​ NET INTEREST INCOME AFTER PROVISION ​ ​ ​ ​ ​ ​ ​ FOR CREDIT LOSSES ​ 54,383 ​ 50,025 ​ NON-INTEREST INCOME: ​ ​ ​ ​ ​ Trust and financial services ​ 1,491 ​ 1,393 ​ Service charges and fees on deposit accounts ​ 7,382 ​ 7,585 ​ Other service charges and fees ​ 374 ​ 316 ​ Securities gains (losses), net ​ — ​ — ​ Interchange income ​ ​ 186 ​ ​ 214 ​ Loan servicing fees ​ 326 ​ 165 ​ Gain on sales of mortgage loans ​ 294 ​ 225 ​ Other ​ ​ 1,164 ​ ​ 613 ​ TOTAL NON-INTEREST INCOME ​ 11,217 ​ 10,511 ​ NON-INTEREST EXPENSE: ​ ​ ​ ​ ​ ​ ​ Salaries and employee benefits ​ 21,361 ​ 19,248 ​ Occupancy expense ​ 2,958 ​ 2,676 ​ Equipment expense ​ 5,340 ​ 4,505 ​ FDIC Expense ​ 690 ​ 750 ​ Other ​ 10,530 ​ 9,580 ​ TOTAL NON-INTEREST EXPENSE ​ 40,879 ​ 36,759 ​ INCOME BEFORE INCOME TAXES ​ 24,721 ​ 23,777 ​ Provision for income taxes ​ 4,917 ​ 5,371 ​ NET INCOME ​ 19,804 ​ 18,406 ​ OTHER COMPREHENSIVE INCOME ​ ​ ​ ​ ​ Change in unrealized gains/(losses) on securities, net of reclassifications and taxes ​ ( 8,674 ) ​ 11,100 ​ Change in funded status of post retirement benefits, net of taxes ​ 79 ​ 3 ​ COMPREHENSIVE INCOME ​ $ 11,209 ​ $ 29,509 ​ PER SHARE DATA ​ ​ ​ ​ ​ Basic and Diluted Earnings per Share ​ $ 1.67 ​ $ 1.55 ​ Weighted average number of shares outstanding (in thousands) ​ 11,885 ​ 11,842 ​ ​ See accompanying notes. ​ 4 Table of Contents FIRST FINANCIAL CORPORATION CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY Three Months Ended March 30, 2026, and 2025 (Dollar amounts in thousands, except per share data) (Unaudited) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accumulated ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other ​ ​ ​ ​ ​ ​ ​ ​ Common ​ Additional ​ Retained ​ Comprehensive ​ Treasury ​ ​ ​ ​ ​ Stock ​ Capital ​ Earnings ​ Income/(Loss) ​ Stock ​ Total Balance, January 1, 2025 ​ $ 2,018 ​ $ 145,927 ​ $ 687,366 ​ $ ( 132,285 ) ​ $ ( 153,985 ) ​ $ 549,041 Net income ​ — ​ — ​ 18,406 ​ — ​ — ​ 18,406 Other comprehensive income ​ — ​ — ​ — ​ 11,103 ​ — ​ 11,103 Omnibus Equity Incentive Plan ​ 1 ​ 232 ​ — ​ — ​ — ​ 233 Treasury shares purchased ( 17,028 shares) ​ — ​ — ​ — ​ — ​ ( 795 ) ​ ( 795 ) Cash dividends, $ .51 per share ​ — ​ — ​ ( 6,043 ) ​ — ​ — ​ ( 6,043 ) Balance, March 31, 2025 ​ $ 2,019 ​ $ 146,159 ​ $ 699,729 ​ $ ( 121,182 ) ​ $ ( 154,780 ) ​ $ 571,945 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance, January 1, 2026 ​ $ 2,021 ​ $ 147,442 ​ $ 741,793 ​ $ ( 86,681 ) ​ $ ( 153,706 ) ​ $ 650,869 Net income ​ — ​ — ​ 19,804 ​ — ​ — ​ 19,804 Other comprehensive income ​ — ​ — ​ — ​ ( 8,595 ) ​ — ​ ( 8,595 ) Omnibus Equity Incentive Plan ​ — ​ 201 ​ — ​ — ​ — ​ 201 Treasury shares purchased ( 5,510 shares) ​ — ​ — ​ — ​ — ​ ( 332 ) ​ ( 332 ) Cash dividends, $ .56 per share ​ — ​ — ​ ( 6,659 ) ​ — ​ — ​ ( 6,659 ) Balance, March 31, 2026 ​ $ 2,021 ​ $ 147,643 ​ $ 754,938 ​ $ ( 95,276 ) ​ $ ( 154,038 ) ​ $ 655,288 ​ See accompanying notes. ​ ​ ​ 5 Table of Contents ​ ​ ​ ​ FIRST FINANCIAL CORPORATION CONSOLIDATED STATEMENTS OF CASH FLOWS (Dollar amounts in thousands, except per share data) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ ​ March 31, ​ ​ ​ ​ ​ 2026 ​ ​ ​ 2025 ​ ​ ​ (Unaudited) ​ CASH FLOWS FROM OPERATING ACTIVITIES: ​ ​ ​ ​ ​ Net Income ​ $ 19,804 ​ $ 18,406 ​ Adjustments to reconcile net income to net cash provided by operating activities: ​ ​ ​ ​ ​ Net amortization of premiums and discounts on investments ​ 790 ​ 1,050 ​ Provision for credit losses ​ 2,550 ​ 1,950 ​ Depreciation and amortization ​ 2,833 ​ 3,257 ​ Bargain purchase gain ​ ​ ( 716 ) ​ ​ — ​ Restricted stock compensation ​ 201 ​ 233 ​ Gain on sale of mortgage loans ​ ( 294 ) ​ ( 225 ) ​ (Gain)/loss on sale of other real estate ​ — ​ ( 2 ) ​ Other, net ​ ( 2,548 ) ​ ( 3,612 ) ​ NET CASH FROM OPERATING ACTIVITIES ​ 22,620 ​ 21,057 ​ CASH FLOWS FROM INVESTING ACTIVITIES: ​ ​ ​ ​ ​ Proceeds from sales of securities available-for-sale ​ 47,691 ​ — ​ Calls, maturities and principal reductions on securities available-for-sale ​ 34,149 ​ 26,968 ​ Purchases of securities available-for-sale ​ ( 61,532 ) ​ — ​ Loans made to customers, net of repayment ​ ( 79,792 ) ​ ( 16,795 ) ​ Net change in federal funds sold ​ 475 ​ 393 ​ Redemption of restricted stock ​ 1,220 ​ 48 ​ Purchase of restricted stock ​ ( 22 ) ​ ( 21 ) ​ Cash received (disbursed) from acquisitions, net ​ ( 11,779 ) ​ ​ — ​ Proceeds from sales of other real estate owned ​ — ​ ​ 2 ​ Additions to premises and equipment ​ ( 687 ) ​ ( 566 ) ​ NET CASH FROM INVESTING ACTIVITIES ​ ( 70,277 ) ​ 10,029 ​ CASH FLOWS FROM FINANCING ACTIVITIES: ​ ​ ​ ​ ​ Net change in deposits ​ ( 22,246 ) ​ ( 78,863 ) ​ Net change in short-term borrowings ​ 51,827 ​ ( 49,448 ) ​ Dividends paid ​ ( 6,650 ) ​ ( 6,032 ) ​ Purchase of treasury shares ​ ( 332 ) ​ ( 795 ) ​ Proceeds from other borrowings ​ 1,200,000 ​ 350,000 ​ Maturities of other borrowings ​ ( 1,208,424 ) ​ ( 253,263 ) ​ NET CASH FROM FINANCING ACTIVITIES ​ 14,175 ​ ( 38,401 ) ​ NET CHANGE IN CASH AND CASH EQUIVALENTS ​ ( 33,482 ) ​ ( 7,315 ) ​ CASH AND DUE FROM BANKS, BEGINNING OF PERIOD ​ 130,369 ​ 93,526 ​ CASH AND DUE FROM BANKS, END OF PERIOD ​ $ 96,887 ​ $ 86,211 ​ ​ See accompanying notes. ​ 6 Table of Contents FIRST FINANCIAL CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS The accompanying March 31, 2026 and 2025 consolidated financial statements are unaudited. The December 31, 2025 consolidated financial statements are as reported in the First Financial Corporation (the “Corporation”) 2025 annual report. The information presented does not include all information and footnotes required by U.S. generally accepted accounting principles for complete financial statements. The following notes should be read together with notes to the consolidated financial statements included in the 10-K filed with the Securities and Exchange Commission for the fiscal year ended December 31, 2025. 1. Significant Accounting Policies The significant accounting policies followed by the Corporation and its subsidiaries for interim financial reporting are consistent with the accounting policies followed for annual financial reporting. All adjustments which are, in the opinion of management, necessary for a fair statement of the results for the periods reported have been included in the accompanying consolidated financial statements and are of a normal recurring nature. The Corporation reports financial information for only one segment, banking. Some items in the prior year financials were reclassified to conform to the current presentation. The Omnibus Equity Incentive Plan is a long-term incentive plan that was designed to align the interests of participants with the interests of shareholders. Under the plan, awards may be made based on certain performance measures. The grants are made in restricted stock units that are subject to a vesting schedule. These shares vest over 3 years in increments of 33 %, 33 %, and 34 % respectively. For the three months ended 2026 and 2025, 16,647 and 25,134 shares were awarded, respectively. These shares had a grant date value of $ 1.1 million and $ 1.2 million for 2026 and 2025, vest over three years , and their grant is not subject to future performance measures. Outstanding shares are increased at the award date for the total shares awarded. On March 1, 2026, the Corporation completed its acquisition of CedarStone Financial, Inc. Therefore, the results of CedarStone have been included in the results of operations beginning on March 1, 2026. On July 1, 2024, the Corporation completed its acquisition of SimplyBank. Therefore, the results of SimplyBank have been included in the results of operations beginning on July 1, 2024. See footnote 12, Acquisitions, for more information. On July 4, 2025, President Trump signed into law the legislation formally titled, “An Act to Provide for Reconciliation Pursuant to Title II of H. Con. Res. 14,” and commonly referred to as the One Big Beautiful Bill (“the Act”). The Corporation evaluated and applied the income tax implications of the Act. The Corporation’s financial statements were not materially impacted by the Act. 2. New accounting standards Accounting Pronouncements Adopted: In July 2025, the FASB issued ASU 2025-05, "Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets . " This ASU amends ASC 326-202 to provide a practical expedient (for all entities) and an accounting policy election (for all entities, other than public business entities that elect the practical expedient) related to the estimation of expected credit losses for current accounts receivable and current contract assets that arise from transactions accounted for under ASC 606, " Revenue From Contracts with Customers " . This ASU is effective for annual and interim reporting periods in fiscal years beginning after December 15, 2025. Early adoption is permitted for financial statements that have not yet been issued. The Corporation adopted ASU 2025-05 on January 1, 2026. The Corporation assessed ASU 2025-05 and applied the standard to the consolidated financial statements and related disclosures. ​ In November 2025, the FASB issued ASU 2025-08 Financial Instruments—Credit Losses (Topic 326) — Purchased Loans. The amendments in this Update expand the population of acquired financial assets subject to the gross-up approach in Topic 326. In accordance with the amendments in this Update, loans (excluding credit cards) acquired without credit deterioration and deemed “seasoned” are purchased seasoned loans and accounted for using the gross-up approach at acquisition. All non- PCD (purchased financial asset with credit deterioration) loans (excluding credit cards) that are acquired in a business combination are deemed seasoned. Other non-PCD loans (excluding credit cards) are seasoned if they were purchased at least 90 days after origination and the acquirer was not involved in the origination of the loans. The amendments in this Update are effective for all entities for annual reporting periods beginning after December 15, 2026, and interim reporting periods within those annual reporting periods. The 7 Table of Contents amendments in this Update should be applied prospectively to loans that are acquired on or after the initial application date. Early adoption is permitted in an interim or annual reporting period in which financial statements have not yet been issued or made available for issuance. The Corporation early adopted ASU 2025-08 on January 1, 2026. The Corporation applied the standard to the acquisition of CedarStone Financial Inc., which supported the impact to the allowance for credit loss, but limited the impact to the provision for balances on March 1, 2026. ​ Recent Accounting Pronouncements: In November 2024, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2024-03, “Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses.” This update is intended to provide investors more detailed disclosures around specific types of expenses. This ASU requires certain details for expenses presented on the face of the consolidated statements of income as well as selling expenses to be presented in the notes to the financial statements. This update 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 disclosure updates are required to be applied prospectively with the option for retrospective application. The Corporation is assessing ASU 2024-03 and its effect on its consolidated financial statements and related disclosures. 8 Table of Contents 3. Allowance for Credit Losses The following table presents the activity of the allowance for credit losses by portfolio segment for the three months ended March 31. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Allowance for Credit Losses: ​ ​ ​ ​ ​ ​ March 31, 2026 ​ ​ ​ (Dollar amounts in thousands) ​ Commercial ​ Residential ​ Consumer ​ Unallocated ​ Total Beginning balance ​ $ 18,805 ​ $ 16,620 ​ $ 12,348 ​ $ 222 ​ $ 47,995 Initial allowance on acquired loans ​ 502 ​ 2,722 ​ 96 ​ — ​ 3,320 Provision for credit losses ​ 477 ​ 174 ​ 1,992 ​ ( 93 ) ​ 2,550 Loans charged-off ​ ( 174 ) ​ ( 65 ) ​ ( 2,706 ) ​ — ​ ( 2,945 ) Recoveries ​ 140 ​ 87 ​ 1,191 ​ — ​ 1,418 Ending Balance ​ $ 19,750 ​ $ 19,538 ​ $ 12,921 ​ $ 129 ​ $ 52,338 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Allowance for Credit Losses: ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2025 ​ ​ ​ ​ ​ ​ ​ (Dollar amounts in thousands) ​ Commercial ​ Residential ​ Consumer ​ Unallocated ​ Total Beginning balance ​ $ 16,963 ​ $ 17,470 ​ $ 12,046 ​ $ 253 ​ $ 46,732 Provision for credit losses ​ 775 ​ ( 540 ) ​ 1,959 ​ ( 244 ) ​ 1,950 Loans charged-off ​ ( 490 ) ​ ( 108 ) ​ ( 2,643 ) ​ — ​ ( 3,241 ) Recoveries ​ 277 ​ 143 ​ 974 ​ — ​ 1,394 Ending Balance ​ $ 17,525 ​ $ 16,965 ​ $ 12,336 ​ $ 9 ​ $ 46,835 ​ ​ 9 Table of Contents The tables below present the recorded investment in non-performing loans by class of loans. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2026 ​ ​ Loans Past ​ ​ ​ ​ Nonaccrual ​ ​ Due Over ​ ​ ​ ​ With No ​ ​ 90 Days ​ ​ ​ ​ Allowance ​ ​ and Greater ​ ​ ​ ​ ​ ​ (Dollar amounts in thousands) ​ Still Accruing ​ Nonaccrual ​ For Credit Loss Commercial ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial & Industrial ​ $ 127 ​ $ 5,684 ​ $ — Farmland ​ — ​ — ​ — Non Farm, Non Residential ​ — ​ 16,699 ​ 13,376 Agriculture ​ 318 ​ 1,337 ​ — All Other Commercial ​ — ​ 191 ​ 143 Residential ​ ​ ​ ​ ​ ​ ​ ​ ​ First Liens ​ 104 ​ 984 ​ — Home Equity ​ 138 ​ 465 ​ — Junior Liens ​ 263 ​ 180 ​ — Multifamily ​ — ​ 508 ​ 453 All Other Residential ​ — ​ — ​ — Consumer ​ ​ ​ ​ ​ ​ ​ ​ ​ Motor Vehicle ​ 22 ​ 2,428 ​ — All Other Consumer ​ — ​ 183 ​ — TOTAL ​ $ 972 ​ $ 28,659 ​ $ 13,972 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2025 ​ ​ Loans Past ​ ​ ​ ​ Nonaccrual ​ ​ Due Over ​ ​ ​ ​ With No ​ ​ 90 Days ​ ​ ​ ​ Allowance ​ ​ and Greater ​ ​ ​ ​ ​ ​ (Dollar amounts in thousands) ​ Still Accruing ​ Nonaccrual ​ For Credit Loss Commercial ​ ​ ​ ​ ​ ​ Commercial & Industrial ​ $ 51 ​ $ 6,058 ​ $ 394 Farmland ​ — ​ — ​ — Non Farm, Non Residential ​ — ​ 15,365 ​ 13,126 Agriculture ​ — ​ 1,218 ​ — All Other Commercial ​ — ​ 195 ​ 143 Residential ​ ​ ​ ​ ​ ​ First Liens ​ 606 ​ 918 ​ 82 Home Equity ​ 178 ​ 442 ​ — Junior Liens ​ 232 ​ 81 ​ — Multifamily ​ 47 ​ 517 ​ 205 All Other Residential ​ — ​ 39 ​ 20 Consumer ​ ​ ​ ​ ​ ​ Motor Vehicle ​ — ​ 2,449 ​ — All Other Consumer ​ — ​ 213 ​ — TOTAL ​ $ 1,114 ​ $ 27,495 ​ $ 13,970 ​ ​ ​ 10 Table of Contents The following tables present the amortized cost basis of collateral dependent loans by class of loans: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2026 ​ ​ Collateral Type (Dollar amounts in thousands) ​ Real Estate ​ Other Commercial ​ ​ ​ ​ Commercial & Industrial ​ $ 3,527 ​ $ 5,965 Farmland ​ 48 ​ — Non Farm, Non Residential ​ 17,866 ​ — Agriculture ​ — ​ 1,334 All Other Commercial ​ 143 ​ — Residential ​ ​ ​ ​ First Liens ​ 2,963 ​ — Home Equity ​ 255 ​ — Junior Liens ​ 402 ​ — Multifamily ​ 453 ​ — All Other Residential ​ 16 ​ — Consumer ​ ​ ​ ​ Motor Vehicle ​ — ​ — All Other Consumer ​ — ​ — Total ​ $ 25,673 ​ $ 7,299 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2025 ​ ​ Collateral Type (Dollar amounts in thousands) ​ ​ ​ Real Estate ​ ​ ​ Other Commercial ​ ​ ​ ​ Commercial & Industrial ​ $ 3,644 ​ $ 5,666 Farmland ​ 48 ​ — Non Farm, Non Residential ​ 17,572 ​ — Agriculture ​ — ​ 829 All Other Commercial ​ 143 ​ — Residential ​ ​ ​ ​ First Liens ​ 82 ​ — Home Equity ​ — ​ — Junior Liens ​ — ​ — Multifamily ​ 205 ​ — All Other Residential ​ 20 ​ — Consumer ​ ​ ​ ​ Motor Vehicle ​ — ​ — All Other Consumer ​ — ​ — Total ​ $ 21,714 ​ $ 6,495 ​ 11 Table of Contents The following tables presents the aging of the recorded investment in loans by past due category and class of loans. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2026 ​ ​ ​ ​ ​ ​ ​ ​ 90 Days ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 30-59 Days ​ 60-89 Days ​ and Greater ​ Total ​ ​ ​ ​ ​ ​ (Dollar amounts in thousands) ​ ​ ​ Past Due ​ ​ ​ Past Due ​ ​ ​ Past Due ​ ​ ​ Past Due ​ ​ ​ Current ​ ​ ​ Total Commercial ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial & Industrial ​ $ 646 ​ $ 647 ​ $ 1,407 ​ $ 2,700 ​ $ 644,066 ​ $ 646,766 Farmland ​ 180 ​ 214 ​ — ​ 394 ​ 133,864 ​ 134,258 Non Farm, Non Residential ​ 14,651 ​ 87 ​ 79 ​ 14,817 ​ 1,155,018 ​ 1,169,835 Agriculture ​ 238 ​ — ​ 1,262 ​ 1,500 ​ 120,170 ​ 121,670 All Other Commercial ​ — ​ — ​ 162 ​ 162 ​ 351,099 ​ 351,261 Residential ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ First Liens ​ 5,799 ​ 3,169 ​ 398 ​ 9,366 ​ 549,392 ​ 558,758 Home Equity ​ 1,053 ​ 264 ​ 646 ​ 1,963 ​ 141,803 ​ 143,766 Junior Liens ​ 633 ​ 229 ​ 311 ​ 1,173 ​ 75,488 ​ 76,661 Multifamily ​ 154 ​ 1 ​ 278 ​ 433 ​ 489,265 ​ 489,698 All Other Residential ​ 96 ​ — ​ — ​ 96 ​ 37,897 ​ 37,993 Consumer ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Motor Vehicle ​ 4,931 ​ 979 ​ 666 ​ 6,576 ​ 671,186 ​ 677,762 All Other Consumer ​ 385 ​ 75 ​ 50 ​ 510 ​ 28,127 ​ 28,637 TOTAL ​ $ 28,766 ​ $ 5,665 ​ $ 5,259 ​ $ 39,690 ​ $ 4,397,375 ​ $ 4,437,065 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2025 ​ ​ ​ ​ ​ ​ ​ ​ 90 Days ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 30-59 Days ​ 60-89 Days ​ and Greater ​ Total ​ ​ ​ ​ ​ ​ (Dollar amounts in thousands) ​ ​ ​ Past Due ​ ​ ​ Past Due ​ ​ ​ Past Due ​ ​ ​ Past Due ​ ​ ​ Current ​ ​ ​ Total Commercial ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial & Industrial ​ $ 883 ​ $ 3,937 ​ $ 1,640 ​ $ 6,460 ​ $ 642,454 ​ $ 648,914 Farmland ​ 320 ​ — ​ — ​ 320 ​ 128,663 ​ 128,983 Non Farm, Non Residential ​ 1,060 ​ 1,772 ​ 85 ​ 2,917 ​ 910,280 ​ 913,197 Agriculture ​ 63 ​ 71 ​ 343 ​ 477 ​ 141,341 ​ 141,818 All Other Commercial ​ 17 ​ — ​ 175 ​ 192 ​ 556,861 ​ 557,053 Residential ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ First Liens ​ 3,852 ​ 1,151 ​ 779 ​ 5,782 ​ 444,131 ​ 449,913 Home Equity ​ 618 ​ 234 ​ 566 ​ 1,418 ​ 105,700 ​ 107,118 Junior Liens ​ 403 ​ 126 ​ 266 ​ 795 ​ 71,989 ​ 72,784 Multifamily ​ 187 ​ 265 ​ 68 ​ 520 ​ 331,317 ​ 331,837 All Other Residential ​ 26 ​ — ​ 24 ​ 50 ​ 28,936 ​ 28,986 Consumer ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Motor Vehicle ​ 7,186 ​ 1,457 ​ 629 ​ 9,272 ​ 653,385 ​ 662,657 All Other Consumer ​ 392 ​ 103 ​ 68 ​ 563 ​ 28,056 ​ 28,619 TOTAL ​ $ 15,007 ​ $ 9,116 ​ $ 4,643 ​ $ 28,766 ​ $ 4,043,113 ​ $ 4,071,879 ​ ​ 12 Table of Contents Loan Modifications Made to Borrowers Experiencing Financial Difficulty: Modification of the terms of such loans typically include one or a combination of the following: a reduction of the stated interest rate of the loan; an extension of the maturity date at a stated rate of interest lower than the current market rate for new debt with similar risk; or a permanent reduction of the recorded investment in the loan. The following table presents the amortized cost of loans and leases at March 31, 2026 that were both experiencing financial difficulty and modified during the twelve months ended March 31, 2026, by class and by type of modification. The percentage of the amortized cost of loans and leases that were modified to borrowers in financial distress as compared to the amortized cost of each class of financial receivable is also presented below. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Combination ​ ​ Combination ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Term ​ ​ Term ​ ​ Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Extension and ​ ​ Extension ​ ​ Class of ​ ​ ​ Principal ​ Payment ​ Term ​ Interest Rate ​ ​ Principal ​ ​ Interest Rate ​ ​ Financing ​ (Dollar amounts in thousands) ​ ​ ​ Forgiveness ​ ​ ​ Delay ​ ​ ​ Extension ​ ​ ​ Reduction ​ ​ ​ Forgiveness ​ Reduction ​ ​ ​ Receivable Residential ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ First Liens ​ $ — ​ $ — ​ $ 12 ​ $ 103 ​ $ — ​ $ 50 ​ 0.03 % Junior Liens ​ — ​ — ​ 14 ​ — ​ — ​ 52 ​ 0.09 % All Other Residential ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 74 ​ ​ 0.20 % Consumer ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Motor Vehicle ​ 15 ​ — ​ 5 ​ — ​ 229 ​ 49 ​ 0.04 % TOTAL ​ $ 15 ​ $ — ​ $ 31 ​ $ 103 ​ $ 229 ​ $ 225 ​ ​ 0.01 % ​ The Corporation has no commitments to lend additional amounts to the borrowers included in the table above. ​ The Corporation closely monitors the performance of loans and leases that have been modified to borrowers experiencing financial difficulty to understand the effectiveness of its modification efforts. The following table presents the performance of such loans that have been modified in the last twelve months : ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2026 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 30 - 59 ​ 60 - 89 ​ Greater Than ​ ​ ​ ​ ​ Days ​ Days ​ 89 Days ​ Total (Dollar amounts in thousands) ​ ​ ​ Past Due ​ ​ ​ Past Due ​ ​ ​ Past Due ​ ​ ​ Past Due ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ First Liens ​ $ 103 ​ $ — ​ $ — ​ $ 103 Consumer ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Motor Vehicle ​ $ 18 ​ $ — ​ $ — ​ $ 18 TOTAL ​ $ 121 ​ $ — ​ $ — ​ $ 121 ​ ​ The following table presents the financial effect of loan and lease modifications presented above to borrowers experiencing financial difficulty for the twelve months ended March 31, 2026. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted- ​ Weighted- ​ ​ ​ ​ ​ Average ​ Average ​ ​ Principal ​ Interest Rate ​ Term (Dollar amounts in thousands) ​ ​ ​ Forgiveness ​ ​ ​ Reduction ​ ​ ​ Extension Residential ​ ​ ​ ​ ​ ​ First Liens ​ $ — ​ 1.53 % 100 Junior Liens ​ ​ — ​ 1.25 % 99 All Other Residential ​ — ​ 0.63 % 180 Consumer ​ ​ ​ ​ ​ ​ ​ ​ ​ Motor Vehicle ​ 107 ​ 1.27 % 22 TOTAL ​ $ 107 ​ ​ 1.25 % ​ 72 ​ 13 Table of Contents The following table presents the amortized cost basis of loans that had a payment default during the twelve months ended March 31, 2026 and were modified in the twelve months prior to that default to borrowers experiencing financial difficulty. A loan is considered to be in payment default once it is 30 days contractually past due under the modified terms. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Principal ​ Payment ​ Term ​ Interest Rate (Dollar amounts in thousands) ​ ​ ​ Forgiveness ​ ​ ​ Delay ​ ​ ​ Extension ​ ​ ​ Reduction ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ First Liens ​ $ — ​ $ — ​ $ — ​ $ 103 Consumer ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Motor Vehicle ​ ​ 18 ​ ​ — ​ ​ 18 ​ ​ — TOTAL ​ $ 18 ​ $ — ​ $ 18 ​ $ 103 ​ Upon the Corporation’s determination that a modified loan has subsequently been deemed uncollectible, 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 is adjusted by the same amount. Credit Quality Indicators: The Corporation categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. The Corporation analyzes loans individually by classifying the loans as to credit risk. This analysis includes non-homogeneous loans, such as commercial loans, with an outstanding balance greater than $ 250 thousand. Any consumer loans outstanding to a borrower who had commercial loans analyzed will be similarly risk rated. This analysis is performed on a quarterly basis. The Corporation uses the following definitions for risk ratings: Special Mention: Loans classified as special mention have a potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of the institution’s credit position at some future date. Substandard: Loans classified as substandard are inadequately protected by the current net worth and debt service capacity of the borrower or of any pledged collateral. These loans have a well-defined weakness or weaknesses which have clearly jeopardized repayment of principal and interest as originally intended. They are characterized by the distinct possibility that the institution will sustain some future loss if the deficiencies are not corrected. Doubtful: Loans classified as doubtful have all the weaknesses inherent in those graded substandard, with the added characteristic that the severity of the weaknesses makes collection or liquidation in full highly questionable or improbable based upon currently existing facts, conditions, and values. Furthermore, non-homogeneous loans which were not individually analyzed, but are 90 + days past due or on non-accrual are classified as substandard. Loans included in homogeneous pools, such as residential or consumer may be classified as substandard due to 90 + days delinquency, non-accrual status, bankruptcy, or loan restructuring. 14 Table of Contents The following tables present the commercial loan portfolio by risk category. These balances do not include accrued interest: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2026 ​ ​ ​ Term Loans at Amortized Cost Basis by Origination Year ​ Revolving ​ ​ ​ ​ ​ ​ ​ ​ 2026 ​ ​ ​ 2025 ​ ​ ​ 2024 ​ ​ ​ 2023 ​ ​ ​ 2022 ​ ​ ​ Prior ​ ​ ​ Loans ​ ​ ​ Total Commercial ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial and Industrial Pass ​ $ 32,340 ​ $ 73,976 ​ $ 68,693 ​ $ 29,830 ​ $ 87,896 ​ $ 158,351 ​ $ 161,619 ​ $ 612,705 ​ Special Mention ​ 3,132 ​ 1,979 ​ 1,154 ​ 277 ​ 413 ​ 4,784 ​ 3,243 ​ $ 14,982 ​ Substandard ​ — ​ 99 ​ 15 ​ 25 ​ 1,007 ​ 7,981 ​ 4,541 ​ $ 13,668 ​ Doubtful ​ — ​ — ​ — ​ — ​ — ​ — ​ — ​ $ — ​ Not Rated ​ 152 ​ 1,405 ​ 972 ​ 425 ​ 201 ​ 130 ​ — ​ $ 3,285 ​ Subtotal ​ $ 35,624 ​ $ 77,459 ​ $ 70,834 ​ $ 30,557 ​ $ 89,517 ​ $ 171,246 ​ $ 169,403 ​ $ 644,640 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current period gross charge-offs ​ $ - ​ $ - ​ $ - ​ $ - ​ $ - ​ $ 1 ​ $ - ​ $ 1 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Farmland Pass ​ $ 3,962 ​ $ 19,258 ​ $ 9,588 ​ $ 17,674 ​ $ 14,254 ​ $ 61,932 ​ $ 315 ​ $ 126,983 ​ Special Mention ​ — ​ 749 ​ 1,357 ​ 478 ​ 81 ​ 1,978 ​ — ​ $ 4,643 ​ Substandard ​ — ​ — ​ — ​ — ​ 48 ​ 280 ​ — ​ $ 328 ​ Doubtful ​ — ​ — ​ — ​ — ​ — ​ — ​ — ​ $ — ​ Not Rated ​ — ​ — ​ — ​ — ​ — ​ 6 ​ — ​ $ 6 ​ Subtotal ​ $ 3,962 ​ $ 20,007 ​ $ 10,945 ​ $ 18,152 ​ $ 14,383 ​ $ 64,196 ​ $ 315 ​ $ 131,960 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current period gross charge-offs ​ $ - ​ $ - ​ $ - ​ $ - ​ $ - ​ $ - ​ $ - ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non Farm, Non Residential Pass ​ $ 41,575 ​ $ 194,778 ​ $ 201,574 ​ $ 123,729 ​ $ 174,132 ​ $ 384,102 ​ $ 11,995 ​ $ 1,131,885 ​ Special Mention ​ — ​ — ​ 8,329 ​ — ​ 900 ​ 2,114 ​ — ​ $ 11,343 ​ Substandard ​ — ​ — ​ — ​ — ​ 1,907 ​ 20,381 ​ — ​ $ 22,288 ​ Doubtful ​ — ​ — ​ — ​ — ​ — ​ — ​ — ​ $ — ​ Not Rated ​ — ​ — ​ — ​ — ​ — ​ 701 ​ — ​ $ 701 ​ Subtotal ​ $ 41,575 ​ $ 194,778 ​ $ 209,903 ​ $ 123,729 ​ $ 176,939 ​ $ 407,298 ​ $ 11,995 ​ $ 1,166,217 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current period gross charge-offs ​ $ - ​ $ - ​ $ - ​ $ - ​ $ - ​ $ - ​ $ - ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Agriculture Pass ​ $ 1,813 ​ $ 9,515 ​ $ 9,470 ​ $ 4,937 ​ $ 3,832 ​ $ 19,694 ​ $ 53,283 ​ $ 102,544 ​ Special Mention ​ — ​ — ​ 279 ​ 676 ​ 2,758 ​ 1,102 ​ 3,767 ​ $ 8,582 ​ Substandard ​ — ​ 28 ​ 296 ​ 196 ​ 109 ​ 4,967 ​ 1,798 ​ $ 7,394 ​ Doubtful ​ — ​ — ​ — ​ — ​ — ​ — ​ — ​ $ — ​ Not Rated ​ — ​ — ​ 1 ​ — ​ — ​ — ​ — ​ $ 1 ​ Subtotal ​ $ 1,813 ​ $ 9,543 ​ $ 10,046 ​ $ 5,809 ​ $ 6,699 ​ $ 25,763 ​ $ 58,848 ​ $ 118,521 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current period gross charge-offs ​ $ - ​ $ - ​ $ - ​ $ - ​ $ - ​ $ - ​ $ - ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other Commercial Pass ​ $ 19,711 ​ $ 109,369 ​ $ 42,489 ​ $ 13,240 ​ $ 66,376 ​ $ 88,845 ​ $ 7,843 ​ $ 347,873 ​ Special Mention ​ — ​ 300 ​ 561 ​ — ​ — ​ — ​ — ​ $ 861 ​ Substandard ​ — ​ — ​ — ​ — ​ — ​ 743 ​ — ​ $ 743 ​ Doubtful ​ — ​ — ​ — ​ — ​ — ​ — ​ — ​ $ — ​ Not Rated ​ — ​ — ​ — ​ — ​ 4 ​ 170 ​ — ​ $ 174 ​ Subtotal ​ $ 19,711 ​ $ 109,669 ​ $ 43,050 ​ $ 13,240 ​ $ 66,380 ​ $ 89,758 ​ $ 7,843 ​ $ 349,651 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current period gross charge-offs ​ $ 173 ​ $ - ​ $ - ​ $ - ​ $ - ​ $ - ​ $ - ​ $ 173 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Multifamily >5 Residential Pass ​ $ 3,578 ​ $ 54,040 ​ $ 134,852 ​ $ 80,749 ​ $ 69,263 ​ $ 124,611 ​ $ 235 ​ $ 467,328 ​ Special Mention ​ 6,181 ​ — ​ — ​ — ​ 11,956 ​ 69 ​ — ​ $ 18,206 ​ Substandard ​ — ​ — ​ — ​ — ​ 201 ​ 278 ​ — ​ $ 479 ​ Doubtful ​ — ​ — ​ — ​ — ​ — ​ — ​ — ​ $ — ​ Not Rated ​ — ​ — ​ — ​ — ​ — ​ 1,358 ​ — ​ $ 1,358 ​ Subtotal ​ $ 9,759 ​ $ 54,040 ​ $ 134,852 ​ $ 80,749 ​ $ 81,420 ​ $ 126,316 ​ $ 235 ​ $ 487,371 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current period gross charge-offs ​ $ - ​ $ - ​ $ - ​ $ - ​ $ - ​ $ - ​ $ - ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Pass ​ $ 102,979 ​ $ 460,936 ​ $ 466,666 ​ $ 270,159 ​ $ 415,753 ​ $ 837,535 ​ $ 235,290 ​ $ 2,789,318 ​ Special Mention ​ 9,313 ​ 3,028 ​ 11,680 ​ 1,431 ​ 16,108 ​ 10,047 ​ 7,010 ​ $ 58,617 ​ Substandard ​ — ​ 127 ​ 311 ​ 221 ​ 3,272 ​ 34,630 ​ 6,339 ​ $ 44,900 ​ Doubtful ​ — ​ — ​ — ​ — ​ — ​ — ​ — ​ $ — ​ Not Rated ​ 152 ​ 1,405 ​ 973 ​ 425 ​ 205 ​ 2,365 ​ — ​ $ 5,525 ​ ​ ​ $ 112,444 ​ $ 465,496 ​ $ 479,630 ​ $ 272,236 ​ $ 435,338 ​ $ 884,577 ​ $ 248,639 ​ $ 2,898,360 ​ 15 Table of Contents ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2025 ​ ​ ​ Term Loans at Amortized Cost Basis by Origination Year ​ Revolving ​ ​ ​ ​ ​ ​ ​ ​ 2025 ​ ​ ​ 2024 ​ ​ ​ 2023 ​ ​ ​ 2022 ​ ​ ​ 2021 ​ ​ ​ Prior ​ ​ ​ Loans ​ ​ ​ Total Commercial ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial and Industrial Pass ​ $ 109,471 ​ $ 69,074 ​ $ 31,396 ​ $ 89,638 ​ $ 70,630 ​ $ 99,985 ​ $ 140,465 ​ $ 610,659 ​ Special Mention ​ — ​ 6,292 ​ 302 ​ 1,145 ​ 5,347 ​ 3,769 ​ 2,603 ​ $ 19,458 ​ Substandard ​ — ​ 11 ​ 32 ​ 504 ​ 1,511 ​ 6,737 ​ 4,203 ​ $ 12,998 ​ Doubtful ​ — ​ — ​ — ​ — ​ — ​ — ​ — ​ $ — ​ Not Rated ​ 1,595 ​ 1,061 ​ 514 ​ 289 ​ 115 ​ 53 ​ — ​ $ 3,627 ​ Subtotal ​ $ 111,066 ​ $ 76,438 ​ $ 32,244 ​ $ 91,576 ​ $ 77,603 ​ $ 110,544 ​ $ 147,271 ​ $ 646,742 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current period gross charge-offs ​ $ 81 ​ $ 52 ​ $ - ​ $ 86 ​ $ 56 ​ $ 219 ​ $ - ​ $ 494 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Farmland Pass ​ $ 15,852 ​ $ 9,054 ​ $ 17,769 ​ $ 14,137 ​ $ 15,774 ​ $ 49,862 ​ $ 365 ​ $ 122,813 ​ Special Mention ​ — ​ 1,145 ​ 701 ​ — ​ — ​ 87 ​ — ​ $ 1,933 ​ Substandard ​ — ​ — ​ 478 ​ — ​ — ​ 626 ​ — ​ $ 1,104 ​ Doubtful ​ — ​ — ​ — ​ — ​ — ​ — ​ — ​ $ — ​ Not Rated ​ — ​ — ​ — ​ — ​ — ​ 6 ​ — ​ $ 6 ​ Subtotal ​ $ 15,852 ​ $ 10,199 ​ $ 18,948 ​ $ 14,137 ​ $ 15,774 ​ $ 50,581 ​ $ 365 ​ $ 125,856 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current period gross charge-offs ​ $ - ​ $ - ​ $ - ​ $ - ​ $ - ​ $ - ​ $ - ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non Farm, Non Residential Pass ​ $ 156,729 ​ $ 157,955 ​ $ 90,074 ​ $ 153,861 ​ $ 138,925 ​ $ 170,080 ​ $ 9,680 ​ $ 877,304 ​ Special Mention ​ — ​ 8,350 ​ — ​ 946 ​ — ​ 2,034 ​ — ​ $ 11,330 ​ Substandard ​ — ​ — ​ — ​ 1,924 ​ 15,699 ​ 3,382 ​ — ​ $ 21,005 ​ Doubtful ​ — ​ — ​ — ​ — ​ — ​ — ​ — ​ $ — ​ Not Rated ​ — ​ — ​ — ​ — ​ — ​ 697 ​ — ​ $ 697 ​ Subtotal ​ $ 156,729 ​ $ 166,305 ​ $ 90,074 ​ $ 156,731 ​ $ 154,624 ​ $ 176,193 ​ $ 9,680 ​ $ 910,336 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current period gross charge-offs ​ $ - ​ $ - ​ $ - ​ $ 33 ​ $ - ​ $ 11 ​ $ - ​ $ 44 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Agriculture Pass ​ $ 13,315 ​ $ 10,053 ​ $ 6,034 ​ $ 6,428 ​ $ 3,040 ​ $ 27,137 ​ $ 56,978 ​ $ 122,985 ​ Special Mention ​ 385 ​ 84 ​ — ​ 914 ​ 141 ​ 999 ​ 4,298 ​ $ 6,821 ​ Substandard ​ 29 ​ 287 ​ 207 ​ 142 ​ 17 ​ 4,422 ​ 3,865 ​ $ 8,969 ​ Doubtful ​ — ​ — ​ — ​ — ​ — ​ — ​ — ​ $ — ​ Not Rated ​ — ​ 1 ​ — ​ 1 ​ 21 ​ — ​ — ​ $ 23 ​ Subtotal ​ $ 13,729 ​ $ 10,425 ​ $ 6,241 ​ $ 7,485 ​ $ 3,219 ​ $ 32,558 ​ $ 65,141 ​ $ 138,798 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current period gross charge-offs ​ $ - ​ $ 4 ​ $ - ​ $ - ​ $ - ​ $ 83 ​ $ - ​ $ 87 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other Commercial Pass ​ $ 95,156 ​ $ 87,870 ​ $ 62,856 ​ $ 90,093 ​ $ 70,734 ​ $ 136,922 ​ $ 7,986 ​ $ 551,617 ​ Special Mention ​ 300 ​ 560 ​ — ​ — ​ — ​ — ​ — ​ $ 860 ​ Substandard ​ — ​ — ​ — ​ — ​ 541 ​ 213 ​ — ​ $ 754 ​ Doubtful ​ — ​ — ​ — ​ — ​ — ​ — ​ — ​ $ — ​ Not Rated ​ — ​ — ​ — ​ 15 ​ — ​ 366 ​ — ​ $ 381 ​ Subtotal ​ $ 95,456 ​ $ 88,430 ​ $ 62,856 ​ $ 90,108 ​ $ 71,275 ​ $ 137,501 ​ $ 7,986 ​ $ 553,612 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current period gross charge-offs ​ $ 728 ​ $ - ​ $ - ​ $ - ​ $ - ​ $ - ​ $ - ​ $ 728 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Multifamily >5 Residential Pass ​ $ 30,157 ​ $ 96,593 ​ $ 55,938 ​ $ 54,759 ​ $ 34,709 ​ $ 37,417 ​ $ 544 ​ $ 310,117 ​ Special Mention ​ — ​ — ​ — ​ 12,075 ​ — ​ 6,319 ​ — ​ $ 18,394 ​ Substandard ​ — ​ — ​ — ​ 205 ​ — ​ 280 ​ — ​ $ 485 ​ Doubtful ​ — ​ — ​ — ​ — ​ — ​ — ​ — ​ $ — ​ Not Rated ​ — ​ — ​ — ​ — ​ 420 ​ 953 ​ — ​ $ 1,373 ​ Subtotal ​ $ 30,157 ​ $ 96,593 ​ $ 55,938 ​ $ 67,039 ​ $ 35,129 ​ $ 44,969 ​ $ 544 ​ $ 330,369 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current period gross charge-offs ​ $ - ​ $ - ​ $ - ​ $ - ​ $ - ​ $ - ​ $ - ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Pass ​ $ 420,680 ​ $ 430,599 ​ $ 264,067 ​ $ 408,916 ​ $ 333,812 ​ $ 521,403 ​ $ 216,018 ​ $ 2,595,495 ​ Special Mention ​ 685 ​ 16,431 ​ 1,003 ​ 15,080 ​ 5,488 ​ 13,208 ​ 6,901 ​ $ 58,796 ​ Substandard ​ 29 ​ 298 ​ 717 ​ 2,775 ​ 17,768 ​ 15,660 ​ 8,068 ​ $ 45,315 ​ Doubtful ​ — ​ — ​ — ​ — ​ — ​ — ​ — ​ $ — ​ Not Rated ​ 1,595 ​ 1,062 ​ 514 ​ 305 ​ 556 ​ 2,075 ​ — ​ $ 6,107 ​ ​ ​ $ 422,989 ​ $ 448,390 ​ $ 266,301 ​ $ 427,076 ​ $ 357,624 ​ $ 552,346 ​ $ 230,987 ​ $ 2,705,713 ​ 16 Table of Contents The Corporation evaluates the credit quality of its other loan portfolios, which includes residential real estate, consumer and lease financing loans, based primarily on the aging status of the loan and payment activity. Accordingly, loans on non-accrual status and loans past due 90 days or more and still accruing interest are considered to be nonperforming for purposes of credit quality evaluation. The following table presents the other loan portfolio based on the credit risk profile of loans that are performing and loans that are nonperforming. These balances do not include accrued interest: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2026 ​ ​ ​ Term Loans at Amortized Cost Basis by Origination Year ​ Revolving ​ ​ ​ ​ ​ ​ ​ ​ 2026 ​ ​ ​ 2025 ​ ​ ​ 2024 ​ ​ ​ 2023 ​ ​ ​ 2022 ​ ​ ​ Prior ​ ​ ​ Loans ​ ​ ​ Total Residential ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ First Liens Performing ​ $ 25,547 ​ $ 83,278 ​ $ 85,554 ​ $ 54,171 ​ $ 79,082 ​ $ 223,641 ​ $ 2,381 ​ $ 553,654 ​ Non-performing ​ — ​ 82 ​ 1,282 ​ — ​ 508 ​ 1,232 ​ — ​ $ 3,104 ​ Subtotal ​ $ 25,547 ​ $ 83,360 ​ $ 86,836 ​ $ 54,171 ​ $ 79,590 ​ $ 224,873 ​ $ 2,381 ​ $ 556,758 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current period gross charge-offs ​ $ - ​ $ 9 ​ $ - ​ $ - ​ $ - ​ $ 8 ​ $ - ​ $ 17 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Home Equity Performing ​ $ 2,017 ​ $ 11,440 ​ $ 1,027 ​ $ 958 ​ $ 678 ​ $ 1,769 ​ $ 124,577 ​ $ 142,466 ​ Non-performing ​ — ​ — ​ 233 ​ — ​ 30 ​ 156 ​ 394 ​ $ 813 ​ Subtotal ​ $ 2,017 ​ $ 11,440 ​ $ 1,260 ​ $ 958 ​ $ 708 ​ $ 1,925 ​ $ 124,971 ​ $ 143,279 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current period gross charge-offs ​ $ - ​ $ - ​ $ - ​ $ - ​ $ - ​ $ 4 ​ $ - ​ $ 4 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Junior Liens Performing ​ $ 5,987 ​ $ 22,893 ​ $ 13,674 ​ $ 9,291 ​ $ 9,290 ​ $ 13,083 ​ $ 1,855 ​ $ 76,073 ​ Non-performing ​ — ​ 34 ​ 48 ​ 103 ​ 74 ​ 88 ​ — ​ $ 347 ​ Subtotal ​ $ 5,987 ​ $ 22,927 ​ $ 13,722 ​ $ 9,394 ​ $ 9,364 ​ $ 13,171 ​ $ 1,855 ​ $ 76,420 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current period gross charge-offs ​ $ - ​ $ - ​ $ - ​ $ - ​ $ - ​ $ 6 ​ $ - ​ $ 6 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other Residential Performing ​ $ 3,414 ​ $ 18,149 ​ $ 4,369 ​ $ 3,004 ​ $ 3,451 ​ $ 5,199 ​ $ 250 ​ $ 37,836 ​ Non-performing ​ — ​ — ​ — ​ — ​ — ​ 2 ​ — ​ $ 2 ​ Subtotal ​ $ 3,414 ​ $ 18,149 ​ $ 4,369 ​ $ 3,004 ​ $ 3,451 ​ $ 5,201 ​ $ 250 ​ $ 37,838 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current period gross charge-offs ​ $ - ​ $ - ​ $ - ​ $ - ​ $ - ​ $ 38 ​ $ - ​ $ 38 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Consumer ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Motor Vehicle Performing ​ $ 81,026 ​ $ 261,573 ​ $ 152,714 ​ $ 99,898 ​ $ 63,423 ​ $ 13,732 ​ $ 9 ​ $ 672,375 ​ Non-performing ​ — ​ 348 ​ 584 ​ 569 ​ 705 ​ 253 ​ — ​ $ 2,459 ​ Subtotal ​ $ 81,026 ​ $ 261,921 ​ $ 153,298 ​ $ 100,467 ​ $ 64,128 ​ $ 13,985 ​ $ 9 ​ $ 674,834 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current period gross charge-offs ​ $ - ​ $ 629 ​ $ 597 ​ $ 497 ​ $ 668 ​ $ 115 ​ $ - ​ $ 2,506 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other Consumer Performing ​ $ 828 ​ $ 4,990 ​ $ 4,307 ​ $ 2,313 ​ $ 1,298 ​ $ 1,877 ​ $ 12,663 ​ $ 28,276 ​ Non-performing ​ — ​ 7 ​ 59 ​ 61 ​ 3 ​ 39 ​ 43 ​ $ 212 ​ Subtotal ​ $ 828 ​ $ 4,997 ​ $ 4,366 ​ $ 2,374 ​ $ 1,301 ​ $ 1,916 ​ $ 12,706 ​ $ 28,488 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current period gross charge-offs ​ $ - ​ $ 10 ​ $ 29 ​ $ 5 ​ $ 14 ​ $ 46 ​ $ 96 ​ $ 200 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Performing ​ $ 118,819 ​ $ 402,323 ​ $ 261,645 ​ $ 169,635 ​ $ 157,222 ​ $ 259,301 ​ $ 141,735 ​ $ 1,510,680 ​ Non-performing ​ — ​ 471 ​ 2,206 ​ 733 ​ 1,320 ​ 1,770 ​ 437 ​ $ 6,937 Total other loans ​ ​ $ 118,819 ​ $ 402,794 ​ $ 263,851 ​ $ 170,368 ​ $ 158,542 ​ $ 261,071 ​ $ 142,172 ​ $ 1,517,617 ​ ​ 17 Table of Contents ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2025 ​ ​ ​ Term Loans at Amortized Cost Basis by Origination Year ​ Revolving ​ ​ ​ ​ ​ ​ ​ ​ 2025 ​ ​ ​ 2024 ​ ​ ​ 2023 ​ ​ ​ 2022 ​ ​ ​ 2021 ​ ​ ​ Prior ​ ​ ​ Loans ​ ​ ​ Total Residential ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ First Liens Performing ​ $ 64,142 ​ $ 61,775 ​ $ 39,526 ​ $ 74,359 ​ $ 60,920 ​ $ 144,310 ​ $ 1,786 ​ $ 446,818 ​ Non-performing ​ — ​ 70 ​ — ​ — ​ 45 ​ 1,456 ​ — ​ $ 1,571 ​ Subtotal ​ $ 64,142 ​ $ 61,845 ​ $ 39,526 ​ $ 74,359 ​ $ 60,965 ​ $ 145,766 ​ $ 1,786 ​ $ 448,389 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current period gross charge-offs ​ $ - ​ $ 33 ​ $ 31 ​ $ - ​ $ - ​ $ 11 ​ $ - ​ $ 75 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Home Equity Performing ​ $ 338 ​ $ 938 ​ $ 793 ​ $ 650 ​ $ 259 ​ $ 1,284 ​ $ 101,907 ​ $ 106,169 ​ Non-performing ​ — ​ — ​ — ​ 33 ​ 17 ​ 175 ​ 393 ​ $ 618 ​ Subtotal ​ $ 338 ​ $ 938 ​ $ 793 ​ $ 683 ​ $ 276 ​ $ 1,459 ​ $ 102,300 ​ $ 106,787 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current period gross charge-offs ​ $ - ​ $ - ​ $ - ​ $ 22 ​ $ - ​ $ 19 ​ $ 10 ​ $ 51 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Junior Liens Performing ​ $ 23,832 ​ $ 13,403 ​ $ 9,409 ​ $ 9,145 ​ $ 4,674 ​ $ 9,676 ​ $ 2,107 ​ $ 72,246 ​ Non-performing ​ — ​ 14 ​ 152 ​ 25 ​ 17 ​ 99 ​ — ​ $ 307 ​ Subtotal ​ $ 23,832 ​ $ 13,417 ​ $ 9,561 ​ $ 9,170 ​ $ 4,691 ​ $ 9,775 ​ $ 2,107 ​ $ 72,553 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current period gross charge-offs ​ $ - ​ $ 30 ​ $ - ​ $ - ​ $ - ​ $ 85 ​ $ - ​ $ 115 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other Residential Performing ​ $ 7,829 ​ $ 6,807 ​ $ 3,843 ​ $ 4,991 ​ $ 3,573 ​ $ 1,757 ​ $ — ​ $ 28,800 ​ Non-performing ​ — ​ — ​ — ​ — ​ 49 ​ 8 ​ — ​ $ 57 ​ Subtotal ​ $ 7,829 ​ $ 6,807 ​ $ 3,843 ​ $ 4,991 ​ $ 3,622 ​ $ 1,765 ​ $ — ​ $ 28,857 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current period gross charge-offs ​ $ - ​ $ - ​ $ - ​ $ - ​ $ - ​ $ - ​ $ - ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Consumer ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Motor Vehicle Performing ​ $ 279,286 ​ $ 168,244 ​ $ 113,956 ​ $ 76,182 ​ $ 14,119 ​ $ 5,441 ​ $ 9 ​ $ 657,237 ​ Non-performing ​ 222 ​ 519 ​ 500 ​ 866 ​ 194 ​ 128 ​ — ​ $ 2,429 ​ Subtotal ​ $ 279,508 ​ $ 168,763 ​ $ 114,456 ​ $ 77,048 ​ $ 14,313 ​ $ 5,569 ​ $ 9 ​ $ 659,666 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current period gross charge-offs ​ $ 759 ​ $ 2,380 ​ $ 2,279 ​ $ 4,075 ​ $ 713 ​ $ 249 ​ $ - ​ $ 10,455 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other Consumer Performing ​ $ 4,776 ​ $ 5,276 ​ $ 2,726 ​ $ 1,503 ​ $ 1,137 ​ $ 942 ​ $ 11,842 ​ $ 28,202 ​ Non-performing ​ 2 ​ 67 ​ 67 ​ 19 ​ 35 ​ 12 ​ 65 ​ $ 267 ​ Subtotal ​ $ 4,778 ​ $ 5,343 ​ $ 2,793 ​ $ 1,522 ​ $ 1,172 ​ $ 954 ​ $ 11,907 ​ $ 28,469 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current period gross charge-offs ​ $ 13 ​ $ 246 ​ $ 180 ​ $ 53 ​ $ 44 ​ $ 24 ​ $ 201 ​ $ 761 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Performing ​ $ 380,203 ​ $ 256,443 ​ $ 170,253 ​ $ 166,830 ​ $ 84,682 ​ $ 163,410 ​ $ 117,651 ​ $ 1,339,472 ​ Non-performing ​ 224 ​ 670 ​ 719 ​ 943 ​ 357 ​ 1,878 ​ 458 ​ $ 5,249 Total other loans ​ ​ $ 380,427 ​ $ 257,113 ​ $ 170,972 ​ $ 167,773 ​ $ 85,039 ​ $ 165,288 ​ $ 118,109 ​ $ 1,344,721 ​ The Corporation has purchased loans, for which there was, at acquisition, evidence of more than insignificant deterioration of credit quality since origination. The carrying amount of those loans is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (Dollar amounts in thousands) ​ ​ ​ 2026 ​ ​ ​ 2025 ​ ​ ​ ​ ​ Purchase price of loans at acquisition ​ $ 2,795 ​ $ — Allowance for credit losses at acquisition ​ 695 ​ — Non-credit discount at acquisition ​ 226 ​ — ​ ​ — ​ — Par value of loans at acquisition ​ $ 3,716 ​ $ — ​ ​ 18 Table of Contents 4. Securities The amortized cost and fair value of the Corporation’s investments are shown below. All securities are classified as available-for-sale. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2026 ​ ​ Amortized ​ Unrealized ​ Unrealized ​ ​ ​ (Dollar amounts in thousands) ​ Cost ​ ​ ​ Gains ​ ​ ​ Losses ​ ​ ​ Fair Value U.S. Government agencies ​ $ 97,515 ​ $ 113 ​ $ ( 7,838 ) ​ $ 89,790 Mortgage Backed Securities - residential ​ ​ 581,177 ​ ​ 250 ​ ​ ( 60,490 ) ​ ​ 520,937 Mortgage Backed Securities - commercial ​ 12,668 ​ 1 ​ ( 429 ) ​ 12,240 Collateralized mortgage obligations ​ 180,592 ​ 39 ​ ( 23,138 ) ​ 157,493 State and municipal obligations ​ 397,395 ​ 681 ​ ( 29,257 ) ​ 368,819 Municipal taxable ​ 20,561 ​ 52 ​ ( 2,014 ) ​ 18,599 Collateralized debt obligations ​ 248 ​ 2,642 ​ — ​ 2,890 TOTAL ​ $ 1,290,156 ​ $ 3,778 ​ $ ( 123,166 ) ​ $ 1,170,768 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2025 ​ ​ Amortized ​ Unrealized ​ Unrealized ​ ​ ​ (Dollar amounts in thousands) ​ Cost ​ ​ ​ Gains ​ ​ ​ Losses ​ ​ ​ Fair Value U.S. Government agencies ​ $ 91,945 ​ $ 114 ​ $ ( 7,749 ) ​ $ 84,310 Mortgage Backed Securities-residential ​ ​ 573,002 ​ ​ 873 ​ ​ ( 58,456 ) ​ ​ 515,419 Mortgage Backed Securities-commercial ​ 12,712 ​ 2 ​ ( 328 ) ​ 12,386 Collateralized mortgage obligations ​ 179,638 ​ 82 ​ ( 21,622 ) ​ 158,098 State and municipal obligations ​ 379,894 ​ 1,280 ​ ( 23,456 ) ​ 357,718 Municipal taxable ​ 20,554 ​ 84 ​ ( 1,893 ) ​ 18,745 Collateralized debt obligations ​ — ​ 2,850 ​ — ​ 2,850 TOTAL ​ $ 1,257,745 ​ $ 5,285 ​ $ ( 113,504 ) ​ $ 1,149,526 ​ Contractual maturities of debt securities at March 31, 2026 were as follows. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Available-for-Sale ​ ​ Amortized ​ Fair (Dollar amounts in thousands) ​ ​ ​ Cost ​ ​ ​ Value Due in one year or less ​ $ 7,601 ​ $ 7,565 Due after one but within five years ​ ​ 32,626 ​ ​ 32,060 Due after five but within ten years ​ 126,240 ​ 123,068 Due after ten years ​ 349,252 ​ 317,405 ​ ​ 515,719 ​ 480,098 Mortgage-backed securities and collateralized mortgage obligations ​ 774,437 ​ 690,670 TOTAL ​ $ 1,290,156 ​ $ 1,170,768 ​ There were no gross gains and losses from investment sales/calls realized by the Corporation for the three months ended March 31, 2026. Additionally, there were no gross gains and losses from investment sales/calls realized by the Corporation for the three months ended March 31, 2025. ​ 19 Table of Contents The following tables show the securities’ gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in continuous unrealized loss position, at March 31, 2026 and December 31, 2025. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2026 ​ ​ Less Than 12 Months ​ ​ ​ More Than 12 Months ​ ​ ​ Total ​ ​ ​ ​ ​ Unrealized ​ ​ ​ ​ Unrealized ​ ​ ​ ​ Unrealized (Dollar amounts in thousands) ​ Fair Value ​ ​ ​ Losses ​ ​ ​ Fair Value ​ ​ ​ Losses ​ ​ ​ Fair Value ​ ​ ​ Losses U.S. Government agencies ​ $ 21,026 ​ $ ( 150 ) ​ $ 55,768 ​ $ ( 7,688 ) ​ $ 76,794 ​ $ ( 7,838 ) Mortgage Backed Securities - Residential ​ 74,202 ​ ​ ( 913 ) ​ ​ 414,240 ​ ​ ( 59,577 ) ​ ​ 488,442 ​ ​ ( 60,490 ) Mortgage Backed Securities - Commercial ​ ​ — ​ ​ — ​ ​ 10,971 ​ ​ ( 429 ) ​ ​ 10,971 ​ ​ ( 429 ) Collateralized mortgage obligations ​ 30,378 ​ ( 431 ) ​ 123,671 ​ ( 22,707 ) ​ 154,049 ​ ( 23,138 ) State and municipal obligations ​ 125,649 ​ ​ ( 1,680 ) ​ ​ 163,503 ​ ​ ( 27,577 ) ​ ​ 289,152 ​ ​ ( 29,257 ) Municipal taxable ​ 891 ​ ( 4 ) ​ 13,756 ​ ( 2,010 ) ​ 14,647 ​ ( 2,014 ) Total temporarily impaired securities ​ $ 252,146 ​ $ ( 3,178 ) ​ $ 781,909 ​ $ ( 119,988 ) ​ $ 1,034,055 ​ $ ( 123,166 ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2025 ​ ​ Less Than 12 Months ​ ​ ​ More Than 12 Months ​ ​ ​ Total ​ ​ ​ ​ ​ Unrealized ​ ​ ​ ​ Unrealized ​ ​ ​ ​ Unrealized (Dollar amounts in thousands) ​ ​ ​ Fair Value ​ ​ ​ Losses ​ ​ ​ Fair Value ​ ​ ​ Losses ​ ​ ​ Fair Value ​ ​ ​ Losses U.S. Government agencies ​ $ 7,137 ​ $ ( 31 ) ​ $ 59,562 ​ $ ( 7,718 ) ​ $ 66,699 ​ $ ( 7,749 ) Mortgage Backed Securities - Residential ​ ​ 11,961 ​ ​ ( 29 ) ​ ​ 427,877 ​ ​ ( 58,427 ) ​ 439,838 ​ ( 58,456 ) Mortgage Backed Securities - Commercial ​ ​ — ​ ​ — ​ ​ 11,114 ​ ​ ( 328 ) ​ ​ 11,114 ​ ​ ( 328 ) Collateralized mortgage obligations ​ 4,381 ​ ( 43 ) ​ 135,393 ​ ( 21,579 ) ​ 139,774 ​ ( 21,622 ) State and municipal obligations ​ ​ 23,889 ​ ​ ( 86 ) ​ ​ 204,976 ​ ​ ( 23,370 ) ​ 228,865 ​ ( 23,456 ) Municipal taxable ​ — ​ — ​ 13,876 ​ ( 1,893 ) ​ 13,876 ​ ( 1,893 ) Total temporarily impaired securities ​ $ 47,368 ​ $ ( 189 ) ​ $ 852,798 ​ $ ( 113,315 ) ​ $ 900,166 ​ $ ( 113,504 ) ​ Management evaluates securities for impairment related to credit losses at least on a quarterly basis, and more frequently when economic or market conditions warrant such an evaluation. The investment securities portfolio is evaluated for impairment related to credit losses by segregating the portfolio into two general segments. In evaluating for impairment, management considers the reason for the decline, the extent of the decline, the duration of the decline and whether the Corporation intends to sell a security or is more likely than not to be required to sell a security before recovery of its amortized cost. If an entity intends to sell or it is more likely than not it will be required to sell the security before recovery of its amortized cost basis, the security’s amortized cost is written down to fair value through income. If an entity does not intend to sell the security and it is not more likely than not that the entity will be required to sell the security before recovery of its amortized cost basis less any current-period loss, a credit loss exists and an allowance for credit losses is recorded, limited to the amount that the fair value of the security is less than its amortized cost basis. Any impairment that has not been recorded through an allowance for credit losses is recognized in other comprehensive income, net of applicable taxes. Gross unrealized losses on investment securities were $ 123.17 million as of March 31, 2026 and $ 113.50 million as of December 31, 2025. Management believes these losses represent negative adjustments to market value relative to the interest rate environment reflecting the increase in market rates and not losses related to the creditworthiness of the issuer. The portfolio contains primarily government agency, agency backed mortgage backed securities (“MBS”), and collateralized mortgage obligations (“CMO”), which are issued by government sponsored enterprises and are backed by the full faith and credit of the United States government. Secondarily, the Corporation invests in municipal securities issued by state and local governments. Of these, almost half are either insured or contain state enhancements. On the remaining, credit is monitored by the investment committee. Based upon our review of the issuers, we do not believe these investments to be other than temporarily impaired. Management does not intend to sell these securities and it is not more likely than not that we will be required to sell them before their anticipated recovery. ​ 20 Table of Contents The table below presents a rollforward of the credit losses recognized in earnings for the three month period ended March 31, 2026 and 2025: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ (Dollar amounts in thousands) ​ 2026 ​ ​ ​ 2025 ​ Beginning balance ​ $ 2,974 ​ $ 2,974 ​ Recoveries of amounts previously written off ​ ​ ( 299 ) ​ — ​ Ending balance ​ $ 2,675 ​ $ 2,974 ​ ​ ​ ​ ​ 5. Qualified Affordable Housing Project Investments The Corporation invests in qualified affordable housing projects. The balance of investment for qualified housing projects was $ 37.1 million at March 31, 2026 and $ 37.9 million at December 31, 2025. These balances are reflected in the other assets line on the consolidated balance sheets. Total unfunded commitments related to the investments in qualified affordable housing projects totaled $ 17.4 million at March 31, 2026 and $ 19.9 million at December 31, 2025. These balances are reflected in the other liabilities line on the consolidated balance sheets.The Corporation expects to fulfill these commitments by the end of December 31, 2037. The Corporation recognized amortization expense of $ 15 thousand during the three months ended March 31, 2026, and $ 16 thousand during the three months ended March 31, 2025, which was included within other noninterest expense on the consolidated statements of income. The Corporation recognized amortization expense of $ 773 thousand during the three months ended March 31, 2026, and $ 720 thousand during the three months ended March 31, 2025, which was included within income tax expense on the consolidated statements of income. Additionally, the Corporation recognized tax credits and other benefits from its investment in affordable housing tax credits of $ 1.1 million during the three months ended March 31, 2026, and $ 914 thousand during the three months ended March 31, 2025. ​ 21 Table of Contents 6. Fair Value FASB ASC No. 820-10 establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard describes three levels of inputs that may be used to measure fair value: Level 1: Quoted prices (unadjusted) of identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date. Level 2: Significant other observable inputs other than Level I 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. Level 3: Significant unobservable inputs that reflect a reporting entity’s own assumptions about the assumptions that market participants would use in pricing an asset or liability. The fair value of most securities available for sale is determined by obtaining quoted prices on nationally recognized securities exchanges (Level 1 inputs) or matrix pricing, which is a mathematical technique widely used in the industry to value debt securities without relying exclusively on quoted prices for the specific securities but rather by relying on the securities’ relationship to other benchmark quoted securities (Level 2 inputs). For those securities that cannot be priced using quoted market prices or observable inputs a Level 3 valuation is determined. These securities are primarily trust preferred securities and investments in state and municipal securities. The fair value of state and municipal obligations are derived by comparing the securities to current market rates plus an appropriate credit spread to determine an estimated value. Illiquidity spreads are then considered. Credit reviews are performed on each of the issuers. The significant unobservable inputs used in the fair value measurement of the Corporation’s state and municipal obligations are credit spreads related to specific issuers. Significantly higher credit spread assumptions would result in significantly lower fair value measurement. Conversely, significantly lower credit spreads would result in a significantly higher fair value measurements. The fair value of derivatives is based on valuation models using observable market data as of the measurement date (Level 2 inputs). ​ 22 Table of Contents ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2026 ​ ​ Fair Value Measurements Using ​ ​ Significant Unobservable Inputs (Level 3) (Dollar amounts in thousands) ​ ​ ​ Level 1 ​ ​ ​ Level 2 ​ ​ ​ Level 3 ​ ​ ​ Total U.S. Government agencies ​ $ — ​ $ 89,790 ​ $ — ​ $ 89,790 Mortgage Backed Securities-residential ​ — ​ 520,937 ​ — ​ 520,937 Mortgage Backed Securities-commercial ​ — ​ 12,240 ​ — ​ 12,240 Collateralized mortgage obligations ​ — ​ 157,493 ​ — ​ 157,493 State and municipal ​ — ​ 368,819 ​ — ​ 368,819 Municipal taxable ​ — ​ 18,599 ​ — ​ 18,599 Collateralized debt obligations ​ — ​ 248 ​ 2,642 ​ 2,890 TOTAL ​ $ — ​ $ 1,168,126 ​ $ 2,642 ​ $ 1,170,768 Derivative Assets ​ ​ ​ ​ ​ 2,489 ​ ​ ​ ​ Derivative Liabilities ​ ​ ​ ​ ( 2,489 ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2025 ​ ​ Fair Value Measurements Using ​ ​ Significant Unobservable Inputs (Level 3) (Dollar amounts in thousands) ​ ​ ​ Level 1 ​ ​ ​ Level 2 ​ ​ ​ Level 3 ​ ​ ​ Total U.S. Government agencies ​ $ — ​ $ 84,310 ​ $ — ​ $ 84,310 Mortgage Backed Securities-residential ​ ​ — ​ ​ 515,419 ​ — ​ ​ 515,419 Mortgage Backed Securities-commercial ​ — ​ 12,386 ​ — ​ 12,386 Collateralized mortgage obligations ​ — ​ 158,098 ​ — ​ 158,098 State and municipal ​ — ​ 357,718 ​ — ​ 357,718 Municipal taxable ​ — ​ 18,745 ​ — ​ 18,745 Collateralized debt obligations ​ — ​ — ​ 2,850 ​ 2,850 TOTAL ​ $ — ​ $ 1,146,676 ​ $ 2,850 ​ $ 1,149,526 Derivative Assets ​ ​ ​ ​ ​ 2,709 ​ ​ ​ ​ Derivative Liabilities ​ ​ ​ ​ ( 2,709 ) ​ ​ ​ ​ ​ There were no transfers between Level 1 and Level 2 during 2026 and 2025. 23 Table of Contents The tables below presents a reconciliation and income statement classification of gains and losses for all assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the three months ended March 31, 2026 and the year ended December 31, 2025. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements Using Significant Unobservable Inputs (Level 3) ​ ​ Three Months Ended ​ ​ March 31, 2026 ​ ​ ​ ​ State and ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ municipal ​ Collateralized ​ ​ ​ (Dollar amounts in thousands) ​ ​ ​ obligations ​ ​ ​ debt obligations ​ ​ ​ Total Beginning balance, January 1 ​ $ — ​ $ 2,850 ​ $ 2,850 Total realized/unrealized gains or losses ​ ​ ​ ​ ​ ​ ​ Included in earnings ​ — ​ — ​ — Included in other comprehensive income ​ — ​ ( 208 ) ​ ( 208 ) Transfers ​ — ​ — ​ — Settlements ​ — ​ — ​ — Ending balance, March 31 ​ $ — ​ $ 2,642 ​ $ 2,642 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements Using Significant Unobservable Inputs (Level 3) ​ ​ Year Ended ​ ​ December 31, 2025 ​ ​ State and ​ ​ ​ ​ ​ ​ ​ ​ municipal ​ Collateralized ​ ​ ​ (Dollar amounts in thousands) ​ ​ ​ obligations ​ ​ ​ debt obligations ​ Total Beginning balance, January 1 ​ $ 805 ​ $ 2,896 ​ $ 3,701 Total realized/unrealized gains or losses ​ ​ ​ ​ ​ ​ ​ ​ Included in earnings ​ — ​ — ​ ​ — Included in other comprehensive income ​ — ​ ( 46 ) ​ ​ ( 46 ) Purchases ​ — ​ — ​ ​ — Settlements ​ ( 805 ) ​ — ​ ​ ( 805 ) Ending balance, December 31 ​ $ — ​ $ 2,850 ​ $ 2,850 ​ Other real estate owned is valued at Level 3. Other real estate owned at March 31, 2026 with a value of $ 184 thousand was reduced by $ 20 thousand for fair value adjustment. At March 31, 2026 other real estate owned was comprised of $ 184 thousand from residential loans. Other real estate owned at December 31, 2025 with a value of $ 94 thousand was reduced by $ 9 thousand for fair value adjustment. At December 31, 2025 other real estate owned was comprised of $ 94 thousand from residential loans. ​ Fair value is measured based on the value of the collateral securing those loans, and is determined using several methods. Generally the fair value of real estate is determined based on appraisals by qualified licensed appraisers. Appraisals for real estate generally use three methods to derive value: cost, sales or market comparison and income approach. The cost method bases value on the cost to replace current property. The market comparison evaluates the sales price of similar properties in the same market area. The income approach considers net operating income generated by the property and the investor’s required return. The final fair value is based on a reconciliation of these three approaches. If an appraisal is not available, the fair value may be determined by using a cash flow analysis, a broker’s opinion of value, the net present value of future cash flows, or an observable market price from an active market. Fair value of other real estate is based upon the current appraised values of the properties as determined by qualified licensed appraisers and the Company’s judgment of other relevant market conditions. Appraisals are obtained annually and reductions in value are recorded as a valuation through a charge to expense. The primary unobservable input used by management in estimating fair value are additional discounts to the appraised value to consider market conditions and the age of the appraisal, which are based on management’s past experience in resolving these types of properties. These discounts range from 0 % to 100 % with an average discount of 47 %. Values for non-real estate collateral, such as business equipment, are based on appraisals performed by qualified licensed appraisers or the customers financial statements. Values for non real estate collateral use much higher discounts than real estate collateral. Other real estate and individually evaluated loans carried at fair value are primarily comprised of smaller balance properties. ​ 24 Table of Contents The following table presents quantitative information about recurring and non-recurring Level 3 fair value measurements at March 31, 2026. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (Dollar amounts in thousands) ​ ​ ​ Fair Value ​ ​ ​ Valuation Technique(s) ​ ​ ​ Unobservable Input(s) ​ ​ ​ Range ​ ​ ​ Collateralized debt obligations ​ $ 2,642 Discounted cash flow Discount rate 5.65 % Collateral dependent loans ​ $ 11,033 Discounted cash flow Discount rate for age of appraisal and market conditions 0.00 %- 100.00 % ​ The following table presents quantitative information about recurring and non-recurring Level 3 fair value measurements at December 31, 2025. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (Dollar amounts in thousands) ​ ​ ​ Fair Value ​ ​ ​ Valuation Technique(s) ​ ​ ​ Unobservable Input(s) ​ ​ ​ Range Collateralized debt obligations ​ $ 2,850 Discounted cash flow Discount rate 5.96 % Collateral dependent loans ​ ​ 7,328 Discounted cash flow Discount rate for age of appraisal and market conditions 10.00 %- 100.00 % ​ The carrying amounts and estimated fair value of financial instruments at March 31, 2026 and December 31, 2025, are shown below. Carrying amount is the estimated fair value for cash and due from banks, federal funds sold, short-term borrowings, accrued interest receivable and payable, demand deposits, short-term debt and variable-rate loans or deposits that reprice frequently and fully. Security fair values were described previously. For fixed-rate, collectively evaluated loans or deposits, variable rate loans or deposits with infrequent repricing or repricing limits, and for longer-term borrowings, fair value is based on discounted cash flows using current market rates applied to the estimated life and considering credit risk. The valuation of individually evaluated loans was described previously. Loan fair value estimates represent an exit price. Fair values of loans held for sale are based on market bids on the loans or similar loans. It was not practicable to determine the fair value of Federal Home Loan Bank stock due to restrictions placed on its transferability. Fair value of debt is based on current rates for similar financing. The fair value of off-balance sheet items is not considered material. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2026 ​ ​ Carrying ​ Fair Value (Dollar amounts in thousands) ​ ​ ​ Value ​ ​ ​ Level 1 ​ ​ ​ Level 2 ​ ​ ​ Level 3 ​ ​ ​ Total Cash and due from banks ​ $ 96,887 ​ $ 32,253 ​ $ 64,634 ​ $ — ​ $ 96,887 Federal funds sold ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Securities available-for-sale ​ 1,170,768 ​ — ​ 1,168,126 ​ 2,642 ​ 1,170,768 Restricted stock ​ 18,553 ​ n/a ​ n/a ​ n/a ​ n/a Loans, net ​ 4,371,583 ​ — ​ — ​ 4,327,017 ​ 4,327,017 Accrued interest receivable ​ 27,881 ​ — ​ 6,926 ​ 20,955 ​ 27,881 Deposits ​ ( 4,842,386 ) ​ — ​ ( 4,838,894 ) ​ — ​ ( 4,838,894 ) Short-term borrowings ​ ( 349,781 ) ​ — ​ ( 349,781 ) ​ — ​ ( 349,781 ) Other borrowings ​ ( 208,756 ) ​ — ​ ( 208,756 ) ​ — ​ ( 208,756 ) Accrued interest payable ​ ( 3,534 ) ​ — ​ ( 3,534 ) ​ — ​ ( 3,534 ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2025 ​ ​ Carrying ​ Fair Value (Dollar amounts in thousands) ​ ​ ​ Value ​ ​ ​ Level 1 ​ ​ ​ Level 2 ​ ​ ​ Level 3 ​ ​ ​ Total Cash and due from banks ​ $ 130,369 ​ $ 38,587 ​ $ 91,782 ​ $ — ​ $ 130,369 Federal funds sold ​ ​ 475 ​ ​ — ​ ​ 475 ​ ​ — ​ ​ 475 Securities available-for-sale ​ 1,149,526 ​ — ​ 1,146,676 ​ 2,850 ​ 1,149,526 Restricted stock ​ 18,536 ​ n/a ​ n/a ​ n/a ​ n/a Loans, net ​ 4,007,308 ​ — ​ — ​ 3,949,043 ​ 3,949,043 Accrued interest receivable ​ 27,762 ​ — ​ 6,482 ​ 21,280 ​ 27,762 Deposits ​ ( 4,551,111 ) ​ — ​ ( 4,554,207 ) ​ — ​ ( 4,554,207 ) Short-term borrowings ​ ( 292,468 ) ​ — ​ ( 292,468 ) ​ — ​ ( 292,468 ) Other borrowings ​ ( 188,208 ) ​ — ​ ( 188,208 ) ​ — ​ ( 188,208 ) Accrued interest payable ​ ( 3,084 ) ​ — ​ ( 3,084 ) ​ — ​ ( 3,084 ) ​ 25 Table of Contents 7. Borrowings Short-term borrowings: ​ Period–end short-term borrowings were comprised of the following: ​ ​ ​ ​ ​ ​ ​ ​ (Dollar amounts in thousands) ​ 2026 ​ ​ ​ 2025 Federal Funds Purchased ​ $ 306,175 ​ $ 257,825 Repurchase Agreements ​ 43,606 ​ 34,643 ​ ​ $ 349,781 ​ $ 292,468 ​ The Corporation enters into sales of securities under agreements to repurchase. The amounts received under these agreements represent short-term borrowings and are reflected as a liability in the consolidated balance sheets. The securities underlying these agreements are included in investment securities in the consolidated balance sheets. The Corporation has no control over the market value of the securities, which fluctuates due to market conditions. However, the Corporation is obligated to promptly transfer additional securities if the market value of the securities falls below the repurchase agreement price. The Corporation manages this risk by maintaining an unpledged securities portfolio that it believes is sufficient to cover a decline in the market value of the securities sold under agreements to repurchase. Collateral pledged to repurchase agreements by remaining maturity are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2026 Repurchase Agreements Remaining Contractual Maturity of the Agreements ​ ​ Overnight ​ ​ ​ ​ ​ ​ ​ Greater ​ ​ ​ ​ and Up to 30 30 - 90 than 90 ​ ​ (Dollar amounts in thousands) ​ ​ ​ continuous ​ ​ ​ days ​ ​ ​ days ​ ​ ​ days ​ ​ ​ Total Mortgage Backed Securities - Residential and Collateralized Mortgage Obligations ​ $ 39,001 ​ $ 585 ​ $ 1,990 ​ $ 2,030 ​ $ 43,606 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2025 Repurchase Agreements ​ Remaining Contractual Maturity of the Agreements ​ ​ Overnight ​ ​ ​ ​ ​ ​ ​ Greater ​ ​ ​ ​ ​ and ​ Up to 30 ​ 30 - 90 ​ than 90 ​ ​ ​ (Dollar amounts in thousands) ​ ​ ​ continuous ​ ​ ​ days ​ ​ ​ days ​ ​ ​ days ​ ​ ​ Total Mortgage Backed Securities - Residential and Collateralized Mortgage Obligations ​ $ 27,514 ​ $ 351 ​ $ 3,978 ​ $ 2,800 ​ $ 34,643 ​ ​ Other borrowings: ​ Other borrowings at March 31, 2026 and December 31, 2025 are summarized as follows: ​ ​ ​ ​ ​ ​ ​ ​ (Dollar amounts in thousands) ​ ​ ​ March 31, 2026 ​ ​ ​ December 31, 2025 FHLB advances ​ $ 200,614 ​ $ 175,708 Notes payable ​ 8,142 ​ 12,500 TOTAL ​ $ 208,756 ​ $ 188,208 ​ The aggregate minimum annual retirements of other borrowings are as follows: ​ Twelve Months Ended March 31, ​ ​ ​ ​ ​ 2027 ​ ​ ​ $ 204,018 2028 ​ 1,738 2029 ​ 3,000 2030 ​ — 2031 ​ — Thereafter ​ — ​ ​ $ 208,756 26 Table of Contents ​ At March 31, 2026 and December 31, 2025, other borrowings are summarized as follows: The Corporation’s subsidiary bank is a member of the Federal Home Loan Bank (FHLB) and accordingly are permitted to obtain advances. There are $ 200.6 million of advances from the FHLB at March 31, 2026, and $ 175.7 million of advances at December 31, 2025. FHLB advances are, generally due in full at maturity. They are secured by eligible securities and a blanket pledge on real estate loan collateral. In addition the Corporation acquired a note payable to a commercial bank and debentures with the acquisition of CedarStone. The balance at March 31, 2026 is $ 8.1 million. ​ ​ ​ 8. Components of Net Periodic Benefit Cost ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ ​ ​ ​ ​ ​ ​ Post-Retirement ​ ​ Pension Benefits ​ Health Benefits (Dollar amounts in thousands) ​ 2026 ​ ​ ​ 2025 ​ 2026 ​ ​ ​ 2025 Service cost ​ $ 104 ​ $ 108 ​ $ 5 ​ $ 3 Interest cost ​ 990 ​ 1,016 ​ 37 ​ 32 Expected return on plan assets ​ ( 1,216 ) ​ ( 1,094 ) ​ — ​ — Net amortization of prior service cost ​ — ​ — ​ — ​ — Net amortization of net (gain) loss ​ ​ — ​ ​ — ​ ​ ( 30 ) ​ ​ ( 39 ) Net Periodic Benefit Cost ​ $ ( 122 ) ​ $ 30 ​ $ 12 ​ $ ( 4 ) ​ Employer Contributions First Financial Corporation previously disclosed in its financial statements for the year ended December 31, 2025 that it expected to contribute $ 1.6 million and $ 556 thousand respectively to its Pension Plan and ESOP and $ 244 thousand to the Post Retirement Health Benefits Plan in 2026. Contributions of $ 327 thousand have been made to the Pension Plan thus far in 2026. Contributions of $ 82 thousand have been made through the first three months of 2026 for the Post Retirement Health Benefits plan. No contributions have been made in 2026 for the ESOP. The Pension plan was frozen for most employees at the end of 2012 and for those employees there will be discretionary contributions to the ESOP plan and a 401K plan in place of the former Pension benefit. In the first three months of 2026 and 2025 there has been $ 1.1 million and $ 847 thousand of expense recorded for potential contributions to these alternative retirement benefit options. ​ 27 Table of Contents 9. Revenue from Contracts with Customers All of the Corporation’s revenue from contracts with customers in the scope of ASC 606 is recognized within Non-Interest Income. The following table presents the Corporation’s sources of Non-Interest Income for the three months ended March 31, 2026 and 2025. Items outside the scope of ASC 606 are noted as such. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ (Dollar amounts in thousands) ​ 2026 ​ ​ ​ 2025 ​ Non-interest income ​ ​ ​ ​ ​ ​ Service charges on deposits and debit card fee income ​ $ 7,382 ​ $ 7,585 ​ Trust and financial services ​ 1,491 ​ 1,393 ​ Interchange income ​ 186 ​ 214 ​ Net gains on sales of loans (a) ​ 294 ​ 225 ​ Loan servicing fees (a) ​ 326 ​ 165 ​ Other service charges and fees (a) ​ 374 ​ 316 ​ Other (b) ​ 1,164 ​ 613 ​ Total non-interest income ​ $ 11,217 ​ $ 10,511 ​ (a) Not within the scope of ASC 606. (b) The Other category includes gains/(losses) on the sale of OREO for the three months ended March 31, 2026 and March 31, 2025, totaling $( 11 ) thousand and zero, respectively, which is within the scope of ASC 606; the remaining balance is outside the scope of ASC 606. (c) Service charges on deposits : The Corporation earns fees from its deposit customers for transaction-based, account maintenance, and overdraft services. Transaction-based fees, which include services such as ATM use fees, stop payment charges, statement rendering, and ACH fees, are recognized at the time the transaction is executed as that is the point in time the Corporation fulfills the customer’s request. Account maintenance fees, which relate primarily to monthly maintenance, are earned over the course of a month, representing the period over which the Corporation satisfies the performance obligation. Overdraft fees are recognized at the point in time that the overdraft occurs. Service charges on deposits are withdrawn from the customer’s account balance. Trust and financial services : The Corporation earns asset management fees from its contracts with trust customers to manage assets for investment, and/or to transact on their accounts. These fees are primarily earned over time as the Corporation provides the contracted monthly or quarterly services and are generally assessed based on a tiered scale of the market value of assets under management at month-end. Fees that are transaction based, including trade execution services, are recognized at the point in time that the transaction is executed, i.e. the trade date. Other related services provided and the fees the Corporation earns, which are based on a fixed fee schedule, are recognized when the services are rendered. Interchange income : The Corporation earns interchange fees from debit and credit cardholder transactions conducted through the payment network. Interchange fees from cardholder transactions represent a percentage of the underlying transaction value and are recognized daily, concurrently with the transaction processing services provided to the cardholder. Gains/Losses on sales of OREO : The Corporation records a gain or loss from the sale of OREO when control of the property transfers to the buyer, which generally occurs at the time of an executed deed. When the Corporation finances the sale of OREO to the buyer, the Corporation assesses whether the buyer is committed to perform their obligations under the contract and whether collectability of the transaction price is probable. Once these criteria are met, the OREO asset is derecognized and the gain or loss on sale is recorded upon the transfer of control of the property to the buyer. In determining the gain or loss on the sale, the Corporation adjusts the transaction price and related gain (loss) on sale if a significant financing component is present. ​ 28 Table of Contents 10. Accumulated Other Comprehensive (Loss) The following tables summarize the changes, net of tax, within each classification of accumulated other comprehensive (loss) for the three months ended March 31, 2026 and 2025. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized ​ ​ ​ ​ ​ ​ ​ ​ gains and ​ ​ ​ ​ ​ ​ ​ ​ (Losses) on available- ​ 2026 ​ ​ for-sale ​ Retirement ​ ​ ​ (Dollar amounts in thousands) ​ ​ ​ Securities ​ ​ ​ plans ​ ​ ​ Total Beginning balance, January 1, ​ $ ( 83,358 ) ​ $ ( 3,323 ) ​ $ ( 86,681 ) Change in other comprehensive income (loss) before reclassification ​ ( 8,674 ) ​ — ​ ( 8,674 ) Amounts reclassified from accumulated other comprehensive income ​ — ​ 79 ​ 79 Net current period other comprehensive income (loss) ​ ( 8,674 ) ​ 79 ​ ( 8,595 ) Ending balance, March 31, ​ $ ( 92,032 ) ​ $ ( 3,244 ) ​ $ ( 95,276 ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized ​ ​ ​ ​ ​ ​ ​ ​ gains and ​ ​ ​ ​ ​ ​ ​ ​ (Losses) on available- ​ 2025 ​ ​ for-sale ​ Retirement ​ ​ ​ (Dollar amounts in thousands) ​ ​ ​ Securities ​ ​ ​ plans ​ ​ ​ Total Beginning balance, January 1, ​ $ ( 127,807 ) ​ $ ( 4,478 ) ​ $ ( 132,285 ) Change in other comprehensive income (loss) before reclassification ​ 11,100 ​ — ​ 11,100 Amounts reclassified from accumulated other comprehensive income ​ — ​ 3 ​ 3 Net current period other comprehensive income (loss) ​ 11,100 ​ 3 ​ 11,103 Ending balance, March 31, ​ $ ( 116,707 ) ​ $ ( 4,475 ) ​ $ ( 121,182 ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance at ​ Current Period ​ Balance at (Dollar amounts in thousands) ​ ​ ​ 1/1/2026 ​ ​ ​ Change ​ ​ ​ 3/31/2026 Unrealized gains (losses) on securities available-for-sale without other than temporary impairment ​ $ ( 85,496 ) ​ $ ( 8,518 ) ​ $ ( 94,014 ) Unrealized gains (losses) on securities available-for-sale with other than temporary impairment ​ 2,138 ​ ( 156 ) ​ 1,982 Total unrealized gain (loss) on securities available-for-sale ​ $ ( 83,358 ) ​ $ ( 8,674 ) ​ $ ( 92,032 ) Unrealized gain (loss) on retirement plans ​ ( 3,323 ) ​ 79 ​ ( 3,244 ) TOTAL ​ $ ( 86,681 ) ​ $ ( 8,595 ) ​ $ ( 95,276 ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance at ​ Current Period ​ Balance at (Dollar amounts in thousands) ​ ​ ​ 1/1/2025 ​ ​ ​ Change ​ ​ ​ 3/31/2025 Unrealized gains (losses) on securities available-for-sale without other than temporary impairment ​ $ ( 129,979 ) ​ $ 11,096 ​ $ ( 118,883 ) Unrealized gains (losses) on securities available-for-sale with other than temporary impairment ​ 2,172 ​ 4 ​ 2,176 Total unrealized income (loss) on securities available-for-sale ​ $ ( 127,807 ) ​ $ 11,100 ​ $ ( 116,707 ) Unrealized gain (loss) on retirement plans ​ ( 4,478 ) ​ 3 ​ ( 4,475 ) TOTAL ​ $ ( 132,285 ) ​ $ 11,103 ​ $ ( 121,182 ) ​ ​ ​ ​ ​ ​ ​ ​ ​ 29 Table of Contents ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, 2026 ​ ​ ​ ​ ​ Details about accumulated ​ Amount reclassified from ​ ​ Affected line item in other comprehensive ​ accumulated other ​ ​ the statement where income components ​ ​ ​ comprehensive income ​ ​ ​ ​ net income is presented ​ ​ (in thousands) ​ ​ ​ Unrealized gains and losses ​ $ — ​ Net securities gains (losses) on available-for-sale ​ — ​ Income tax expense securities ​ $ — ​ Net of tax ​ ​ ​ ​ ​ ​ ​ Amortization of ​ $ ( 105 ) (a) ​ Salary and benefits retirement plan items ​ 26 ​ Income tax expense ​ ​ $ ( 79 ) ​ Net of tax Total reclassifications for the period ​ $ ( 79 ) ​ Net of tax (a) Included in the computation of net periodic benefit cost. (see Footnote 8 for additional details). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, 2025 ​ ​ ​ Details about accumulated ​ Amount reclassified from ​ ​ Affected line item in other comprehensive ​ accumulated other ​ ​ the statement where income components ​ ​ ​ comprehensive income ​ ​ ​ ​ net income is presented ​ ​ ​ ​ (in thousands) ​ ​ ​ ​ ​ Unrealized gains and losses ​ $ — ​ Net securities gains (losses) on available-for-sale ​ — ​ Income tax expense securities ​ $ — ​ Net of tax ​ ​ ​ ​ ​ ​ ​ Amortization of ​ $ ( 4 ) (a) ​ Salary and benefits retirement plan items ​ 1 ​ Income tax expense ​ ​ $ ( 3 ) ​ Net of tax Total reclassifications for the period ​ $ ( 3 ) ​ Net of tax (a) Included in the computation of net periodic benefit cost. (see Footnote 8 for additional details). (a) 30 Table of Contents 11. Leases The Corporation leases certain branches under operating leases. At March 31, 2026, the Corporation had lease liabilities totaling $ 7,384,000 and right-of-use assets totaling $ 7,225,000 related to these leases. At December 31, 2025, the Corporation had lease liabilities totaling $ 7,547,000 and right-of-use assets totaling $ 7,386,000 related to these leases. Lease liabilities and right-of-use assets are reflected in other liabilities and other assets, respectively. At March 31, 2026, the weighted average remaining lease term for operating leases was 10.2 years and the weighted average discount rate used in the measurement of operating lease liabilities was 3.49 %. The calculated amount of the lease liabilities and right-of-use assets are impacted by the length of the lease term and the discount rate used to present value the minimum lease payments. The Corporation’s lease agreements often include one or more options to renew at the Corporation’s discretion. If at lease inception, the Corporation considers the exercising of a renewal option to be reasonably certain, the Corporation will include the extended term in the calculation of the lease liability and right-of-use asset. Regarding the discount rate, the new standard requires the use of the rate implicit in the lease whenever this rate is readily determinable. As this rate is rarely determinable, the Corporation utilizes its incremental borrowing rate at lease inception, on a collateralized basis, over a similar term. The following table represents lease costs and other lease information. As the Corporation elected, not to separate lease and non-lease components and instead to account for them as a single lease component, the variable lease cost primarily represents variable payments such as common area maintenance and utilities. Lease costs were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Three Months Ended (Dollar amounts in thousands) ​ ​ ​ March 31, 2026 ​ March 31, 2025 Operating lease cost ​ $ 397 ​ $ 362 Short-term lease cost ​ 5 ​ 32 Variable lease cost ​ 21 ​ 1 Total lease cost ​ $ 423 ​ $ 395 ​ ​ ​ ​ ​ ​ ​ Other information: ​ ​ ​ ​ Cash paid for amounts included in the measurement of operating lease liabilities ​ 371 ​ 307 Right-of-use assets obtained in exchange for new operating lease liabilities ​ 468 ​ — ​ Future minimum payments for operating leases with initial or remaining terms of one year or more as of March 31, 2026 were as follows: ​ ​ ​ ​ ​ (Dollar amounts in thousands) ​ ​ ​ March 31, 2026 Twelve Months Ended March 31, ​ ​ 2027 ​ $ 1,258 2028 ​ ​ 1,260 2029 ​ 1,045 2030 ​ 810 2031 ​ 647 Thereafter ​ 4,196 Total Future Minimum Lease Payments ​ 9,216 Amounts Representing Interest ​ ( 1,832 ) Present Value of Net Future Minimum Lease Payments ​ $ 7,384 ​ ​ ​ ​ 31 Table of Contents 12. Acquisitions On March 1, 2026, the Corporation completed its acquisition of CedarStone Financial, Inc. Therefore, the results of CedarStone have been included in the results of operations beginning on March 1, 2026. Upon the terms and subject to the conditions set forth in the Merger Agreement, at the effective time of the Interim Merger (the “Effective Time”), First Financial paid $ 19.12 per share in cash for each share of CedarStone’s common stock outstanding. The aggregate value of the transaction was approximately $ 25.0 million. Acquisition-related costs of $ 1.5 million were included in the Corporation’s income statement for the year-to-date period ended December 31, 2025. Additionally, the Corporation included acquisition-related costs of $ 41 thousand in the Corporation’s income statement for the three months ending March 31, 2026. ​ The following table summarizes the consideration paid and the amounts of the assets acquired and liabilities assumed recognized at the acquisition date, which resulted in a bargain purchase gain of $ 716 thousand. Changes to the acquisition-date fair values of the assets acquired, liabilities assumed, or consideration transferred during the measurement period may result in adjustments to the bargain purchase gain. The analysis of the review of accruals and the tax impact of the fair value adjustments is still in process. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Measurement ​ ​ ​ ​ ​ ​ As Initially ​ Period ​ ​ ​ ​ (Dollar amounts in thousands) ​ ​ ​ Reported ​ Adjustments ​ As Adjusted ​ Consideration ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash consideration ​ $ 25,003 ​ $ — ​ $ 25,003 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair value of total consideration transferred ​ $ 25,003 ​ $ — ​ $ 25,003 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Assets acquired ​ ​ ​ ​ ​ ​ ​ Cash ​ $ 13,224 ​ $ — ​ $ 13,224 ​ Investment securities available-for-sale ​ 53,509 ​ — ​ 53,509 ​ Federal funds sold ​ — ​ — ​ — ​ Bank owned life insurance ​ 4,481 ​ — ​ 4,481 ​ Federal Home Loan Bank stock ​ 1,215 ​ — ​ 1,215 ​ Loans ​ 286,102 ​ — ​ 286,102 ​ Premises and equipment ​ 11,106 ​ — ​ 11,106 ​ Core deposit intangibles ​ 5,317 ​ — ​ 5,317 ​ Other assets ​ 773 ​ — ​ 773 ​ Total assets acquired ​ 375,727 ​ — ​ 375,727 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities assumed ​ ​ ​ ​ ​ ​ ​ Deposits ​ 313,536 ​ — ​ 313,536 ​ FHLB advances ​ 28,942 ​ — ​ 28,942 ​ Other borrowings ​ ​ 5,485 ​ ​ — ​ ​ 5,485 ​ Other liabilities ​ 2,045 ​ — ​ 2,045 ​ Total liabilities assumed ​ 350,008 ​ — ​ 350,008 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net identifiable assets ​ 25,719 ​ — ​ 25,719 ​ Bargain purchase gain ​ $ ( 716 ) ​ $ — ​ $ ( 716 ) ​ ​ The fair value of net assets acquired includes fair value adjustments to certain receivables that were not considered impaired as of the acquisition date. The fair value adjustments were determined using discounted contractual cash flows. However, the Corporation believes that all contractual cash flows related to these financial instruments will be collected. As such, these receivables were not considered impaired at the acquisition date and were not subject to guidance relating to purchase credit deteriorated loans, which have shown evidence of credit deterioration since origination. Adjustments made above were within the allowable one year measurement period. ​ The fair value of purchased financial assets with credit deterioration was $ 3.0 million on the date of acquisition. The gross contractual amounts receivable relating to the purchased financial assets with credit deterioration was $ 3.7 million. The Corporation 32 Table of Contents estimates, on the date of acquisition, that $ 695 thousand of the contractual cash flows specific to the purchased financial assets with credit deterioration will not be collected. ​ The following table presents supplemental pro forma information as if the acquisition had occurred at the beginning of 2025. The unaudited pro forma information includes adjustments for interest income on loans and securities acquired, interest expense on deposits acquired, and the related income tax effects. The pro forma financial information is not necessarily indicative of the results of operations that would have occurred had the transactions been effected on the assumed dates. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, (Dollar amounts in thousands, except per share data) ​ 2026 ​ 2025 Net interest income ​ $ 58,027 ​ $ 54,208 Net income ​ $ 19,382 ​ $ 18,779 Basic and diluted earnings per share ​ $ 1.63 ​ $ 1.59 ​ ​ ​ ​ ​ 33 Table of Contents On July 1, 2024, the Corporation completed its acquisition of SimplyBank. Therefore, the results of SimplyBank have been included in the results of operations beginning on July 1, 2024. Upon the terms and subject to the conditions set forth in the Merger Agreement, at the effective time of the Interim Merger (the “Effective Time”), other than dissenting shares, each share of SimplyBank Common Stock issued and outstanding immediately prior to the Effective Time, was converted into the right to receive $ 718.38 per share in cash. The aggregate value of the transaction was approximately $ 73.4 million. Acquisition-related costs of $ 1.7 million were included in the Corporation’s income statement for the year-to-date period ended December 31, 2024. ​ Goodwill of $ 11.2 million arising from the acquisition consisted largely of synergies and the cost savings resulting from the combining of the operations of the companies. The goodwill value is subject to change pending receipt of the final valuation. The goodwill for SimplyBank is deductible for income tax purposes as the transaction was accounted for as a taxable acquisition. The following table summarizes the consideration paid and the amounts of the assets acquired and liabilities assumed recognized at the acquisition date. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Measurement ​ ​ ​ ​ ​ ​ As Initially ​ Period ​ ​ ​ ​ (Dollar amounts in thousands) ​ ​ ​ Reported ​ Adjustments ​ As Adjusted ​ Consideration ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash consideration ​ $ 73,400 ​ $ — ​ $ 73,400 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair value of total consideration transferred ​ $ 73,400 ​ $ — ​ $ 73,400 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Assets acquired ​ ​ ​ ​ ​ ​ ​ Cash ​ $ 101,553 ​ $ — ​ $ 101,553 ​ Investment securities available-for-sale ​ 77,350 ​ — ​ 77,350 ​ Federal funds sold ​ — ​ — ​ — ​ Bank owned life insurance ​ 12,816 ​ — ​ 12,816 ​ Federal Home Loan Bank stock ​ 726 ​ — ​ 726 ​ Loans ​ 467,997 ​ ( 2,731 ) ​ 465,266 ​ Premises and equipment ​ 14,231 ​ — ​ 14,231 ​ Core deposit intangibles ​ 19,788 ​ — ​ 19,788 ​ Other assets ​ 6,184 ​ — ​ 6,184 ​ Total assets acquired ​ 700,645 ​ ( 2,731 ) ​ 697,914 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities assumed ​ ​ ​ ​ ​ ​ ​ Deposits ​ 622,937 ​ — ​ 622,937 ​ FHLB advances ​ 1,719 ​ — ​ 1,719 ​ Other liabilities ​ 12,899 ​ ( 1,797 ) ​ 11,102 ​ Total liabilities assumed ​ 637,555 ​ ( 1,797 ) ​ 635,758 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net identifiable assets ​ 63,090 ​ ( 934 ) ​ 62,156 ​ Goodwill ​ $ 10,310 ​ $ 934 ​ $ 11,244 ​ ​ The fair value of net assets acquired includes fair value adjustments to certain receivables that were not considered impaired as of the acquisition date. The fair value adjustments were determined using discounted contractual cash flows. However, the Corporation believes that all contractual cash flows related to these financial instruments will be collected. As such, these receivables were not considered impaired at the acquisition date and were not subject to guidance relating to purchase credit deteriorated loans, which have shown evidence of credit deterioration since origination. Adjustments made above were within the allowable one year measurement period. ​ The fair value of purchased financial assets with credit deterioration was $ 1.7 million on the date of acquisition. The gross contractual amounts receivable relating to the purchased financial assets with credit deterioration was $ 4.7 million. The Corporation estimates, on the date of acquisition, that $ 3.0 million of the contractual cash flows specific to the purchased financial assets with credit deterioration will not be collected. ​ 34 Table of Contents The following table presents supplemental pro forma information as if the acquisition had occurred at the beginning of 2023. The unaudited pro forma information includes adjustments for interest income on loans and securities acquired, interest expense on deposits acquired, and the related income tax effects. The pro forma financial information is not necessarily indicative of the results of operations that would have occurred had the transactions been effected on the assumed dates. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, (Dollar amounts in thousands, except per share data) ​ 2024 ​ 2023 Net interest income ​ $ 188,441 ​ $ 196,646 Net income ​ $ 36,425 ​ $ 70,586 Basic and diluted earnings per share ​ $ 3.08 ​ $ 5.91 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 35 Table of Contents ITEMS 2. and 3. Management’s Discussion and Analysis of Financial Condition and Results of Operations and Quantitative and Qualitative Disclosures About Market Risk The purpose of this discussion is to point out key factors in the Corporation’s recent performance compared with earlier periods. The discussion should be read in conjunction with the financial statements beginning on page three of this report. All figures are for the consolidated entities. It is presumed the readers of these financial statements and of the following narrative have previously read the Corporation’s financial statements for 2025 in the 10-K filed for the fiscal year ended December 31, 2025. This Quarterly Report on Form 10-Q contains forward-looking statements. Forward-looking statements provide current expectations or forecasts of future events and are not guarantees of future performance, nor should they be relied upon as representing management’s views as of any subsequent date. The forward-looking statements are based on management’s expectations and are subject to a number of risks and uncertainties. Although management believes that the expectations reflected in such forward-looking statements are reasonable, actual results may differ materially from those expressed or implied in such statements. Risks and uncertainties that could cause actual results to differ materially include, without limitation, the Corporation’s ability to effectively execute its business plans; changes in general economic and financial market conditions; changes in interest rates; changes in the competitive environment; continuing consolidation in the financial services industry; new litigation or changes in existing litigation; losses, customer bankruptcy, claims and assessments; changes in banking regulations or other regulatory or legislative requirements affecting the Corporation’s business; and changes in accounting policies or procedures as may be required by the Financial Accounting Standards Board or other regulatory agencies. Additional information concerning factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements is available in the Corporation’s Form 10-K for the year ended December 31, 2025, and subsequent filings with the United States Securities and Exchange Commission (SEC). Copies of these filings are available at no cost on the SEC’s Web site at www.sec.gov or on the Corporation’s Web site at www.first-online.com. Management may elect to update forward-looking statements at some future point; however, it specifically disclaims any obligation to do so. Critical Accounting Policies Certain of the Corporation’s accounting policies are important to the portrayal of the Corporation’s financial condition and results of operations, since they require management to make difficult, complex or subjective judgments, some of which may relate to matters that are inherently uncertain. Estimates associated with these policies are susceptible to material changes as a result of changes in facts and circumstances. Facts and circumstances which could affect these judgments include, without limitation, changes in interest rates, in the performance of the economy or in the financial condition of borrowers. Management believes that its critical accounting policies include determining the allowance for credit losses and the valuation of goodwill and valuing investment securities. See further discussion of these critical accounting policies in the 2025 Form 10-K. Allowance for credit losses. The allowance for credit losses (ACL) represents management’s estimate of expected losses inherent within the existing loan portfolio. The allowance for credit losses is increased by the provision for credit losses charged to expense and reduced by loans charged off, net of recoveries. The allowance for credit losses is determined based on management’s assessment of several factors: reviews and evaluations of specific loans, changes in the nature and volume of the loan portfolio, current economic conditions, nonperforming loans, determination of acquired loans as purchase credit deteriorated, and reasonable and supportable forecasts. Loans are individually evaluated when they do not share risk characteristics with other loans in the respective pool. Loans evaluated individually are excluded from the collective evaluation. Management elected the collateral dependent practical expedient upon adoption of ASC 326. Expected credit losses on individually evaluated loans are based on the fair value of the collateral at the reporting date, adjusted for selling costs as appropriate. Management utilizes a cohort methodology to determine the allowance for credit losses. This method identifies and captures the balance of a pool of loans with similar risk characteristics, as of a particular point in time to form a cohort, then tracks the respective losses generated by that cohort of loans over their remaining life. The cohorts track loan balances and historical loss experience since 2008, and management extends the look back period each quarter to capture all available data points in the historical loss rate calculation. The quantitative component of the ACL involves assumptions that require a significant level of estimation; these include historical losses as a predictor of future performance, appropriateness of selected delay periods, and the reasonableness of the portfolio segmentation. A historical data set is expected to provide the best indication of future credit performance. Delay periods represent the amount of time it takes a cohort of loans to become seasoned, or incur sufficient attrition through pay downs, renewals, or charge-offs. Portfolio segmentation relates to the pooling of loans with similar risk characteristics, such as industry types, collateral, and consumer purpose. 36 Table of Contents On an annual basis, in the first quarter, management performs a recalibration of the delay periods and portfolio segmentation to determine whether they are reasonable and appropriate based on the information available at that time. Management considers qualitative adjustments to expected credit loss estimates for information not already captured in the loss estimation process. Where past performance may not be representative of future losses, loss rates are adjusted for qualitative and economic forecast factors. Management uses the peak three consecutive quarter net charge off rate to capture maximum potential volatility over the reasonable and supportable forecast period. Historical losses utilized in setting the qualitative factor ranges are anchored to 2008 and may be supplemented by peer information when needed. The qualitative factor ranges are recalibrated annually to capture recent behavior that is indicative of the credit profile of the current portfolio. Qualitative factors include items, such as changes in lending policies or procedures, asset specific risks, and economic uncertainty in forward-looking forecasts. Economic indicators utilized in forecasting include unemployment rate, gross domestic product, housing starts, and interest rates. Management uses a two-year reasonable and supportable period across all loan segments to forecast economic conditions. Management believes the two-year time horizon aligns with available industry guidance and various forecasting sources. Economic forecast adjustments are overlaid onto historical loss rates. As such, reversion from forecast rates to historical loss rates is immediate. The ACL and allowance for unfunded commitments were $52.3 million and $2.9 million, respectively at March 31, 2026, compared to $48.0 million and $2.9 million, respectively at December 31, 2025. The qualitative amount of the reserve increased $607 thousand to $14.7 million. The quantitative amount is $34.1 million at March 31, 2026, compared to $33.6 million at December 31, 2025. There was no change in the allowance for unfunded commitments. As a result of the acquisition of CedarStone Financial, Inc., the Corporation recorded an additional allowance for credit loss on loans of $3.3 million. See additional discussion of ACL in the Allowance for Credit Losses section below. Based on management’s analysis of the current portfolio, management believes the allowance is adequate. Changes in the financial condition of individual borrowers, economic conditions, historical loss experience, or the condition of the various markets in which collateral may be sold may affect the required level of the allowance for credit losses and the associated provision for credit losses. As management monitors these changes, as well as those factors discussed above, adjustments may be recorded to the allowance for credit losses and the associated provision for credit losses in the future. Summary of Operating Results On March 1, 2026, First Financial Corporation completed the acquisition of CedarStone Financial, Inc. As a result of the acquisition, loans acquired were $292 million, and deposits acquired were $313 million. Additionally, we recorded a bargain purchase gain of $716 thousand. Net income will reflect one month of activity in the first quarter for activity from CedarStone. Included in the variances in the following discussion are the values provided in this paragraph. Net income for the three months ended March 31, 2026 was $19.8 million, compared to $18.4 million for the same period in 2025. Basic earnings per share increased to $1.67 for the first quarter of 2026 compared to $1.55 for the same period in 2025. Return on average assets and return on average equity were 1.35% and 11.93% respectively, for the three months ended March 31, 2026 compared to 1.34% and 13.04% for the three months ended March 31, 2025. In light of events in the banking sector, including bank failures, continuing interest rate activity and recessionary concerns, the Corporation has proactively positioned the balance sheet to mitigate the risks affecting the Corporation and the overall banking industry in order to serve its clients and communities. ● Liquidity remains strong, with cash and available for sale securities representing approximately 20.7% of assets at March 31, 2026. The Corporation maintains the ability to access considerable sources of contingent liquidity at the Federal Home Loan Bank and several correspondent banks. Management considers the Corporation’s current liquidity position to be adequate to meet both short-term and long-term liquidity needs. Refer to the section Liquidity Risk for additional information. ● Capital remains strong, with ratios of the Corporation, and its subsidiary bank, well above the standards to be considered well-capitalized under regulatory requirements. Refer to the section Capital Adequacy , included elsewhere in this report for additional details. 37 Table of Contents ● Asset quality remains solid, with a non-performing asset ratio of 0.64% of total assets as of March 31, 2026 and net charge-offs of 0.15% to average loans and leases, reflecting the Company's disciplined underwriting and conservative lending philosophy which has supported the Corporation’s strong credit performance during prior financial crises. Refer to the section Non-Performing Loan for additional information. The primary components of income and expense affecting net income are discussed in the following analysis. Net Interest Income The Corporation’s primary source of earnings is net interest income, which is the difference between the interest earned on loans and other investments and the interest paid for deposits and other sources of funds. Net interest income increased $4.9 million in the three months ended March 31, 2026 to $56.9 million from $52.0 million in the same period in 2025. The net interest margin for the three months ended March 31, 2026 is 4.23% compared to 4.11% for the same period in 2025, a 2.90% increase. The increase in yields on investments of 31 basis points is the primary contributor to the improved yield on average earning assets for the three months ended March 31, 2026, compared to the three months ended March 31, 2025. Comparing the three months ended March 31, 2026 to the three months ended March 31, 2025, the effective rate paid on average interest-bearing deposits decreased 11 basis points. For the same period discussed above, interest paid on other borrowings decreased 117 basis points. Non-Interest Income Non-interest income for the three months ended March 31, 2026 was $11.2 million compared to $10.5 million for the same period in 2025. Non-Interest Expenses The Corporation’s non-interest expense for the quarter ended March 31, 2026 was $40.9 million compared to $36.8 million for the same period in 2025. This includes an overall increase in operating expenses as a result of the acquisition. Allowance for Credit Losses The Corporation’s provision for credit losses for the three months ended March 31, 2026, was $2.6 million, compared to provision of $2.0 million for the same period of 2025. Net charge-offs for the first quarter of 2026 were $1.5 million compared to net charge-offs of $1.8 million for the same period of 2025. Based on management’s analysis of the current portfolio, an evaluation that includes consideration of changes in CECL model assumptions of credit quality, economic conditions, and loan composition, management believes the allowance is adequate. In the first three months of 2026, no significant changes were made. Income Tax Expense The Corporation’s effective income tax rate for the first three months of 2026 was 19.89% compared to 22.59% for the same period in 2025. Non-performing Loans Non-performing loans consist of (1) non-accrual loans on which the ultimate collectability of the full amount of interest is uncertain, and (2) loans past due ninety days or more as to principal or interest. Non-performing loans decreased to $28.5 million at March 31, 2026 compared to $28.6 million at December 31, 2025. Nonperforming loans increased 179.9% compared to $10.2 million as of March 31, 2025. ​ A summary of non-performing loans at March 31, 2026 and December 31, 2025 follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (000's) ​ ​ ​ ​ ​ ​ ​ March 31, 2026 ​ ​ ​ December 31, 2025 ​ ​ Non-accrual loans ​ $ 27,524 ​ $ 27,495 ​ ​ ​ Accruing loans past due over 90 days ​ 938 ​ 1,083 ​ ​ ​ 38 Table of Contents ​ ​ $ 28,462 ​ $ 28,578 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Ratio of the allowance for credit losses as a percentage of non-performing loans ​ ​ 183.9 % ​ 167.9 % ​ % ​ The following loan categories comprise significant components of the nonperforming non-restructured loans: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2026 ​ December 31, 2025 ​ Non-accrual loans ​ ​ ​ ​ ​ Commercial loans ​ $ 22,776 $ 22,836 ​ Residential loans ​ 2,137 1,997 ​ Consumer loans ​ 2,611 2,662 ​ ​ ​ $ 27,524 $ 27,495 ​ Past due 90 days or more and still accruing ​ ​ ​ ​ Commercial loans ​ $ 427 $ 50 ​ Residential loans ​ 490 1,032 ​ Consumer loans ​ 21 1 ​ ​ ​ $ 938 $ 1,083 ​ ​ Interest Rate Sensitivity and Liquidity First Financial Corporation has established risk measures, limits and policy guidelines for managing interest rate risk and liquidity. Responsibility for management of these functions resides with the Asset Liability Committee. The primary goal of the Asset Liability Committee is to maximize net interest income within the interest rate risk limits approved by the Board of Directors. Interest Rate Risk Management considers interest rate risk to be the Corporation’s most significant market risk. Interest rate risk is the exposure to changes in net interest income as a result of changes in interest rates. Consistency in the Corporation’s net interest income is largely dependent on the effective management of this risk. The Asset Liability position is measured using sophisticated risk management tools, including earning simulation and market value of equity sensitivity analysis. These tools allow management to quantify and monitor both short-term and long-term exposure to interest rate risk. Simulation modeling measures the effects of changes in interest rates, changes in the shape of the yield curve and the effects of embedded options on net interest income. This measure projects earnings in the various environments over the next three years. It is important to note that measures of interest rate risk have limitations and are dependent on various assumptions. These assumptions are inherently uncertain and, as a result, the model cannot precisely predict the impact of interest rate fluctuations on net interest income. Actual results will differ from simulated results due to timing, frequency and amount of interest rate changes as well as overall market conditions. The Committee has performed a thorough analysis of these assumptions and believes them to be valid and theoretically sound. These assumptions are continuously monitored for behavioral changes. The Corporation from time to time utilizes derivatives to manage interest rate risk. Management continuously evaluates the merits of such interest rate risk products but does not anticipate the use of such products to become a major part of the Corporation’s risk management strategy. The table below shows the Corporation’s estimated sensitivity profile as of March 31, 2026. The change in interest rates assumes a parallel shift in interest rates of 100, 200, and 300 basis points. Given a 100 basis point increase in rates, net interest income would decrease 1.75% over the next 12 months and increase 1.29% over the following 12 months. Given a 100 basis point decrease in rates, net interest income would increase 3.79% over the next 12 months and increase 0.21% over the following 12 months. These estimates assume all rate changes occur overnight and management takes no action as a result of this change. ​ ​ ​ ​ ​ ​ ​ ​ ​ Basis Point ​ ​ ​ Percentage Change in Net Interest Income Interest Rate Change ​ ​ ​ 12 months ​ ​ ​ 24 months ​ ​ ​ 36 months ​ ​ ​ Down 300 ​ 5.69 % (5.81) % (15.29) % Down 200 ​ 5.88 ​ (1.60) ​ (8.02) ​ 39 Table of Contents Down 100 ​ 3.79 ​ 0.21 ​ (2.95) ​ Up 100 ​ (1.75) ​ 1.29 ​ 4.27 ​ Up 200 ​ (6.06) ​ (0.07) ​ 5.93 ​ Up 300 ​ (8.95) ​ (0.04) ​ 9.01 ​ ​ Typical rate shock analysis does not reflect management’s ability to react and thereby reduce the effect of rate changes, and represents a worst-case scenario. Liquidity Risk Liquidity represents an institution’s ability to provide funds to satisfy demands from depositors, borrowers, and other creditors by either converting assets into cash or accessing new or existing sources of incremental funds. Generally the Corporation relies on deposits, loan repayments and repayments of investment securities as its primary sources of funds. The Corporation has $7.9 million of investments that mature throughout the next 12 months. The Corporation also anticipates $119.0 million of principal payments from mortgage-backed and other securities. Given the current rate environment, the Corporation anticipates $62.0 million in securities to be called within the next 12 months. The Corporation also has $162.7 million of unused borrowing capacity available with the Federal Home Loan Bank of Indianapolis, $891 million available with the Federal Reserve Bank, and $90 million of available fed funds lines with correspondent banks. With these sources of funds, the Corporation currently anticipates adequate liquidity to meet the expected obligations of its customers. Financial Condition Comparing the first three months of 2026 to year-ended December 31, 2025, loans net of deferred loan costs, have increased $369 million to $4.4 billion. Deposits increased 6.4% to $4.8 billion at March 31, 2026 compared to December 31, 2025. Other borrowings increased $20.5 million to $208.8 million at March 31, 2026 compared to December 31, 2025. Shareholders’ equity increased 0.68% or $4.4 million. This financial performance increased book value per share 0.58% to $55.10 at March 31, 2026 from $54.78 at December 31, 2025. Book value per share is calculated by dividing the total shareholders’ equity by the number of shares outstanding. Accumulated other comprehensive loss decreased $8.6 million primarily due to the market value of the securities portfolio, which reflected the decrease in securities pricing. 40 Table of Contents Capital Adequacy The Federal Reserve, OCC and Federal Deposit Insurance Corporation (collectively, joint agencies) establish regulatory capital guidelines for U.S. banking organizations. Regulatory capital guidelines require that capital be measured in relation to the credit and market risks of both on- and off-balance sheet items using various risk weights. On January 1, 2015, the Basel 3 rules became effective and include transition provisions through January 1, 2019. Under Basel 3, Total capital consists of two tiers of capital, Tier 1 and Tier 2. Tier 1 capital is further composed of Common equity tier 1 capital and additional tier 1 capital. Common equity tier 1 capital primarily includes qualifying common shareholders’ equity, retained earnings and certain minority interests. Goodwill, disallowed intangible assets and certain disallowed deferred tax assets are excluded from Common equity tier 1 capital. Additional tier 1 capital primarily includes qualifying non-cumulative preferred stock, trust preferred securities (Trust Securities) subject to phase-out and certain minority interests. Certain deferred tax assets are also excluded. Tier 2 capital primarily consists of qualifying subordinated debt, a limited portion of the allowance for loan and lease losses, Trust Securities subject to phase-out and reserves for unfunded lending commitments. The Corporation’s Total capital is the sum of Tier 1 capital plus Tier 2 capital. To meet adequately capitalized regulatory requirements, an institution must maintain a Tier 1 capital ratio of 8.50 percent and a Total capital ratio of 10.50 percent. A “well-capitalized” institution must generally maintain capital ratios 200 bps higher than the minimum guidelines. The risk-based capital rules have been further supplemented by a Tier 1 leverage ratio, defined as Tier 1 capital divided by quarterly average total assets, after certain adjustments. BHCs must have a minimum Tier 1 leverage ratio of at least 4.0 percent. National banks must maintain a Tier 1 leverage ratio of at least 5.0 percent to be classified as “well capitalized.” Failure to meet the capital requirements established by the joint agencies can lead to certain mandatory and discretionary actions by regulators that could have a material adverse effect on the Corporation’s financial position. Below are the capital ratios for the Corporation and lead bank. The fully phased in capital conservation buffer set the minimum ratios for common equity Tier 1 capital at 7%, the Tier 1 capital at 8.5% and the total capital at 10.5%. Currently the Corporation exceeds all of these minimums. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2026 ​ ​ ​ ​ ​ ​ December 31, 2025 ​ ​ ​ ​ ​ ​ To Be Well Capitalized ​ Common equity tier 1 capital ​ ​ ​ ​ Corporation 12.50 % 13.21 % N/A ​ First Financial Bank 12.32 % 13.11 % 6.50 % Total risk-based capital ​ ​ ​ ​ ​ ​ ​ ​ Corporation 13.54 % 14.22 % N/A ​ First Financial Bank 13.36 % 14.14 % 10.00 % Tier I risk-based capital ​ ​ ​ ​ ​ ​ ​ ​ Corporation 12.50 % 13.21 % N/A ​ First Financial Bank 12.32 % 13.11 % 8.00 % Tier I leverage capital ​ ​ ​ ​ ​ ​ ​ ​ Corporation 11.03 % 11.25 % N/A ​ First Financial Bank 10.51 % 10.82 % 5.00 % ​ ​ 41 Table of Contents