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1 3Q 2026 Financial Results October 22, 2026
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Forward Looking Statements Certain statements contained in this presentation that ar e not historical facts may constitute forward-looking statements within the meaning of Section 27A of the Sec urities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are intended to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The Com pany may also make forward-looking statements in other documents it files with the Securities and Exchange Commiss ion ("SEC"), in our annual reports to shareholders, in press releases and other written materials, and in oral statements made by our officers, directors or employees. You can identify forward looking statements by the use of the word s “believe,” “expect,” “anticipate,” “intend,” “estimate,” “assume,” “outlook,” “will,” “should,” and other expressions that predict or indicate future events and trends and which do not relate to historical matters, including sta tements regarding the Company’s business, credit quality, financial condition, liquidity and results of operations. Forwa rd-looking statements may differ, possibly materially, from what is included in this press release due to factor s and future developments that are uncertain and beyond the scope of the Company’s control. These include, but are not limited to, changes in interest rates; general economic conditions (including the impact of ongoing armed c onflicts, tariffs, inflation, and concerns about liquidity) on a national basis or in the local markets in which th e Company operates; turbulence in the capital and debt markets; competitive pressures from other financial in stitutions; changes in consumer behavior due to changing political, business and economic conditions, or legislative or regulatory initiatives; changes in the value of securities and other assets in the Company’s investment portfolio; i ncreases in loan and lease default and charge-off rates; the adequacy of allowances for loan and lease losses; decreases in deposit levels that necessitate increases in borrowing to fund loans and investments; operational risks including, but not limited to, cybersecurity incidents, fraud, natural disasters, and future pandemics; changes in regulation; the possibility that future credit losses may be higher than currently expected due to changes in economic a ssumptions and adverse economic developments; the risk that goodwill and intangibles recorded in the Comp any’s financial statements will become impaired; and changes in assumptions used in making such forward-looking statements. Forward-looking statements involve risks and uncertainti es which are difficult to predict. The Company’s actual results could differ materially from those projected in th e forward-looking statements as a result of, among others, the risks outlined in the Company’s Annual Report on Form 10-K, as updated by its Quarterly Reports on Form 10- Q and other filings submitted to the SEC. The Company doe s not undertake any obligat ion to update any forward- looking statement to reflect circumstances or events that occur after the date the forward-looking statements are made. Non-GAAP In addition to financial measures presented in accordance with U.S. generally accepted accounting principles (“GAAP”), this presentation contains certain non-GAAP financial measures, i ncluding, without limitation, operating earnings, and the ratios of tangible common equity to ta ngible assets. The presentation of non-GAAP financial information is not intended to be considered in isolation o r as a substitute for any measure prepared in accordance with GAAP. Please see the Earnings Release for certain Non-GAAP reconciliations. 2
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Two decades of proven leadership. Deep experience across Beacon’s businesses and operations Commercial banking Built C&I, asset-based lending and SBA businesses. Hired many of our banking teams. Retail banking Built private and digital banking. Improved branch efficiency. Fee businesses Built wealth management and cash management businesses. Support functions Built technology, risk and compliance, HR, legal and marketing capabilities. Sean A. Gray PRIOR ROLES COO, Beacon President, Berkshire Interim CEO, Berkshire 6 YEARS 19 YEARS 15 YEARS 19 YEARS CEO 3
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4 $0.73 Quarterly GAAP EPS $0.3225 Quarterly Dividend Per Share Highlights Board authorized additional $75 million in stock buybacks bringing total plan to $125 million. Total assets of $21.9 billion. Total loans of $17.7 billion. Total deposits of $18.2 billion. Margin of 3.85%. ROA of 1.11% and ROTE of 12.02%. Core efficiency ratio of 53.54%. Fortress Balance Sheet / Asset Quality Loans to Deposits of 97%. NPAs to total assets of 0.75%. Reserve to Loans coverage of 1.32%. Total Risk Based Capital of 14.6% and Tangible Common Equity (TCE) of 9.4%. ICRE to Total Risk Based Capital of 295%. $0.77 Quarterly Operating EPS
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Summary Income Statement Net income of $61.2 million or $0.73 per share. Net interest income increased $3.9 million from prior quarter reflecting higher margin and one additional day in Q3. Non-interest income remained consistent quarter over quarter while non-interest expense increased $0.6 million from prior quarter. Q3 2025 results are reflective of the close of the merger of equals. 5 $m, except per share amts 3Q26 2Q26 Δ %Δ 3Q25 Δ %Δ Net interest income 197.1 $ 193.2 $ 3.9 $ 2% 128.9 $ 68.2 $ 53% Noninterest income 26.0 26.0 0.0 0% 12.3 13.7 111% Total Revenue 223.1 219.2 3.9 2% 141.2 81.9 58% Noninterest expense 119.5 118.9 0.6 0% 79.8 39.7 50% Amortization of intangibles 8.1 8.3 (0.2) -3% 3.6 4.5 125% Restructuring/Merger exp. 5.1 - 5.1 - 45.9 (40.8) -89% Pretax, Preprov. Net Rev. 90.4 91.9 (1.5) -2% 11.9 78.5 660% Provision for credit losses 8.9 4.9 4.0 81% 20.3 (11.4) -56% Pretax income 81.5 87.0 (5.5) -6% (8.4) 89.9 -1070% Provision for taxes 20.3 22.6 (2.3) -10% (4.2) 24.5 -583% Net Income 61.2 $ 64.4 $ (3.2) $ -5% (4.2) $ 65.4 $ -1557% EPS 0.73 $ 0.77 $ (0.04) $ -5% (0.05)$ 0.78$ -1560% Avg diluted shares (000s) 83,998 83,939 58 0% 87,833 (3,835) -4% Return on Assets 1.11% 1.17% -0.06% -0.11% 1.22% Return on Tangible Equity 12.02% 12.84% -0.82% -1.27% 13.29% Net Interest Margin 3.85% 3.81% 0.04% 3.62% 0.23% Core Efficiency Ratio* 53.54% 54.26% -0.72% 56.55% -3.01% * Core efficiency ratio excludes amortization of identified intangible assets. Linked Quarter (LQ) Year over Year (YoY) Amounts as presented may differ slightly from the Company’s Earnings Release due to rounding to foot schedules presented.
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Operating Earnings – GAAP versus non-GAAP Operating earnings of $0.77 excludes restructuring related charges and net gain on sale of three buildings. Calculated using an estimated core tax rate of 24.9%. 6 $m, except per share amts GAAP Non-Core Operating Net interest income 197.1 $ - $ 197.1$ Noninterest income 25.5 - 25.5 Gain/(Loss) - Other 0.5 (0.5) - Total Revenue 223.1 (0.5) 222.6 Noninterest expense 119.5 - 119.5 Restructuring/Merger exp. 5.1 (5.1) - Amortization of intangibles 8.1 - 8.1 Pretax, Preprov. Net Rev. 90.4 4.6 95.0 Provision for credit losses 8.9 - 8.9 Pretax income 81.5 4.6 86.1 Provision for taxes 20.3 1.1 21.4 Net Income 61.2 $ 3.5 $ 64.7 $ EPS 0.73 $ 0.04 $ 0.77 $ Avg diluted shares (000s) 83,998 83,998 83,998 Return on Assets 1.11% 1.17% Return on Tangible Equity 12.02% 12.69% Net Interest Margin 3.85% 3.85% 3Q26 Amounts as presented may differ slightly from the Company’s Earnings Release due to rounding to foot schedules presented.
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Margin – Yields and Costs 7 3Q26 Prior Quarter LQ Δ Purchase Accounting* $ millions Avg Bal Interest Yield Avg Bal Interest Yield Avg Bal Interest Yield Interest Yield Loans 17,715 $ 271.3 $ 6.13% 17,807 $ 266.6 $ 5.99% (92) $ 4.7 $ 0.14% 10.7 $ 0.24% Investments & earning cash 2,771 29.3 4.23% 2,707 28.7 4.24% 64 0.6 -0.01% 4.6 0.66% Interest Earning Assets 20,486$ 300.6 $ 5.87% 20,514 $ 295.3 $ 5.76% (28) $ 5.3 $ 0.11% 15.3 $ 0.30% Interest bearing deposits 14,498 91.6$ 2.51% 14,342 89.0$ 2.49% 156 $ 2.6 $ 0.02% 0.5 $ 0.01% Borrowings 797 10.2 5.01% 997 11.5 4.55% (200) (1.3) 0.46% 0.3 0.15% Interest Bearing Liabilities 15,295$ 101.8 $ 2.64% 15,339 $ 100.5 $ 2.63% (44) $ 1.3 $ 0.01% 0.8 $ 0.02% Net interest spread 3.23% 3.13% 0.10% 0.28% Net interest income, TEB / Margin 198.8 $ 3.85% 194.8$ 3.81% 4.0$ 0.04% 14.5$ 0.28% LESS: Tax Equivalent Basis (TEB) Adj. 1.7 1.6 0.1 - Net Interest Income 197.1 $ 193.2 $ 3.9 $ 14.5 $ * quarterly accretion / amortization of interest rate marks. Rate Environment 9/30/2025 12/31/2025 3/31/2026 6/30/2026 9/30/2026 LQ Chg YoY Chg Fed Funds (upper) 4.25% 3.75% 3.75% 3.75% 4.00% 0.25% -0.25% SOFR 4.24% 3.87% 3.68% 3.68% 3.90% 0.22% -0.34% 2Y Treasury 3.60% 3.47% 3.79% 4.14% 4.88% 0.74% 1.28% 5Y Treasury 3.74% 3.73% 3.92% 4.19% 5.09% 0.90% 1.35% 10Y Treasury 4.16% 4.18% 4.30% 4.44% 5.29% 0.85% 1.13%
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Summary Balance Sheet On the balance sheet, total assets decreased $375 million to $21.9 billion, driven by a decrease in cash and cash equivalents relating to a decline in payroll deposits due to the timing of payroll activity relative to quarter-end. Loans declined $170 million driven by commercial real estate, consumer and equipment financing loans. Deposits decreased $303 million primarily driven by timing of payroll deposits. 8 $m, except per share amts 3Q26 2Q26 Δ 3Q25 Δ %Δ Gross Loans, investment 17,652$ 17,822 $ (170) $ 18,305 $ (653) $ -4% Allowance for loan losses (233) (238) 5 (254) 21 -8% Net Loans 17,419 17,584 (165) 18,051 (632) -4% Securities 1,957 1,761 196 1,739 218 13% Cash & equivalents 771 1,216 (445) 1,221 (450) -37% Intangibles 522 530 (8) 551 (29) -5% Other assets & Loans, HFS 1,207 1,160 47 1,305 (98) -8% Total Assets 21,876 $ 22,251 $ (375) $ 22,867 $ (991) $ -4% Deposits 18,183 $ 18,486 $ (303) $ 18,904 $ (721) $ -4% Borrowings 775 889 (114) 1,081 (306) -28% Reserve for unfunded loans 14 13 1 14 - 0% Other Liabilities 384 323 61 407 (23) -6% Total Liabilities 19,356 19,711 (355) 20,406 (1,050) -5% Stockholders' Equity 2,520 2,540 (20) 2,461 59 2% Total Liabilities & Equity 21,876$ 22,251 $ (375) $ 22,867 $ (991) $ -4% TBV per share 23.81 $ 23.98 $ (0.17) $ 22.75 $ 1.06 $ 5% Actual shares outstanding (000) 83,883 83,816 67 83,909 (26) 0% Tang. Equity / Tang. Assets 9.35% 9.25% 0.10% 8.56% 0.79% Loans / Deposits 97.08% 96.41% 0.67% 96.83% 0.25% ALLL / Gross Loans 1.32% 1.34% -0.02% 1.39% -0.07% Linked Quarter (LQ) Year over Year (YoY) Amounts as presented may differ slightly from the Company’s Earnings Release due to rounding to foot schedules presented.
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Loans and Deposits 9 55% 17% 6% 22% Loans CRE C&I Equipment Consumer 21% 9% 17%24% 22% 5% 2% Deposits DDA NOW Savings MM CDs Payroll Brokered $ millions 3Q26 2Q26 Δ CRE 9,710 $ 9,885 $ (175) $ Commercial 3,050 2,950 100 Equipment Finance 1,001 1,031 (30) Consumer 3,891 3,956 (65) Total Loans 17,652 $ 17,822 $ (170) $ Demand deposits 3,888$ 3,911 $ (23) $ NOW 1,570 1,570 - Savings 3,045 3,035 10 Money market 4,351 4,462 (111) CDs 4,069 4,065 4 Payroll deposits 885 1,212 (327) Brokered deposits 375 231 144 Total Deposits 18,183$ 18,486 $ (303) $ Customer deposits* 16,923$ 17,042 $ (119) $ *Excludes Payroll and Brokered deposits Linked Quarter (LQ) LOANS DEPOSITS
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10 Capital Strength preliminary estimates* $ millions Sep-26 Minimum "Well Capitalized" Policy Minimums Operating Targets Regulatory Capital Buffer % Regulatory Capital Buffer $ Tier 1 Common / RWA 11.8% ≥ 4.5% ≥ 6.5% ≥ 7.5% ≥ 8.0% 5.3% 963.0$ Tier 1 / RWA 12.0% ≥ 6.0% ≥ 8.0% ≥ 9.0% ≥ 9.5% 4.0% 722.9$ Total Risk Based Capital 14.6% ≥ 8.0% ≥ 10.0% ≥ 11.0% ≥ 11.5% 4.6% 832.3$ Leverage Ratio 10.0% ≥ 5.0% ≥ 5.0% ≥ 6.0% ≥ 6.5% 5.0% 1,081.8$ * Regulatory capital ratios are preliminary estimates and may differ from numbers calculated in final Regulatory filings. Requirements Policy Limits "Well Capitalized" Regulatory BASEL III Beacon Board Capital in Excess of $0.3225 Quarterly Dividend Per Share 44% payout based on 3Q’26 EPS 4.6% Current Dividend Yield** ** Based on annual dividend of $1.29 and stock price of $27.99 (close 09/30/26) 295% ICRE / Total RBC The Board of Directors announced a dividend of $0.3225 per share payable November 20, 2026 to stockholders of record on November 6, 2026. 16% Construction / Total RBC
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First Look: Our priorities for 2027 and beyond Balance sheet Increase C&I and owner-occupied CRE. Grow deposits and reduce wholesale funding. Fee revenue Grow fees from 11% of revenue to the mid-teens with a focus on cash management, wealth management and payments. Expense management Significantly improve on the efficiency ratio and lower the nominal dollar expense run rate. Capital management Prioritize organic growth and the dividend. Repurchase authorization raised to $125M, with a goal of reducing share count over time. Focus on team lift-outs, with no whole-bank acquisitions. Credit Maintain proactive credit management. Approximately half the portfolio was credit marked at close. Modestly lower reserves to loans over time. Technology Bring the branch to clients through digital channels. Use AI responsibly for operational efficiency and workforce enablement. People Target top-quartile employee and client retention. Leverage top client facing talent to scale proven businesses. A mid-teens ROTCE target, supported by scale and management controllable levers 11
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APPENDIX 12 NYSE: BBT
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Non Performing Assets and Net Charge-Offs The increase in CRE non performing loans was driven by two loans in the Office and Industrial segments. The $13.5 million in net charge-offs were primarily driven by the restructuring of a large ABL transaction as well as smaller dollar charge-offs in the commercial portfolios. 13 Linked Quarter (LQ) Year over Year (YoY) 3Q26 2Q26 Δ 3Q25 Δ Non Performing Assets (NPAs), in millions CRE 86.1 $ 77.1 $ 9.0 $ 33.7 $ 52.4 $ C&I 65.3 66.4 (1.1) 55.8 9.5 Consumer 9.2 9.2 - 9.1 0.1 Total Non Performing Loans (NPLs) 160.6 152.7 7.9 98.6 62.0 Other real estate owned 0.1 0.1 - 0.8 (0.7) Other repossessed assets 2.4 2.4 - 2.5 (0.1) Total NPAs 163.1 $ 155.2 $ 7.9 $ 101.9 $ 61.2 $ NPLs / Total Loans 0.91% 0.86% 0.05% 0.54% 0.37% NPAs / Total Assets 0.75% 0.70% 0.05% 0.45% 0.30% Net Charge-Offs (NCOs), in millions CRE loans 3.4 $ 7.4 $ (4.0) $ 0.8 $ 2.6 $ C&I loans 10.1 6.9 3.2 15.1 (5.0) Consumer loans - - - (0.1) 0.1 Total Net Charge-Offs 13.5 $ 14.3 $ (0.8) $ 15.9 $ (2.4) $ NCOs / Avg. Loans (annualized) 0.30% 0.32% -0.02% 0.51% -0.21% Amounts as presented may differ slightly from the Company’s Earnings Release due to rounding to foot schedules presented.
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$7,806 $3,695 $2,260 $3,891 44% 21% 13% 22% Perm Constr Total %N a i c s Total %V e r t i c a l Total % Call Code Total % Multifamily 2,191 $ 223 $ 2,414$ 31% Food & Lodging 587$ 16% EF Core 921$ 41% Resi 1st Mtg 3,072$ 79% Retail 1,313 9 1,322 17% RE, Rental, Leasing 577 16% ABL 799 35% Resi Jr Mtg 25 1% Industrial 1,108 25 1,133 14% Manufacturing 375 10% 44BC 292 13% Resi Heloc 668 17% Office 992 29 1,021 13% Retail 332 9% EF Vehicle 124 5% Consumer 126 3% Hospitality 517 4 521 7% Health and Social 332 9% EF Macrolease 116 5% Total 3,891 $ 100% Healthcare 428 24 452 6% Finance and Insurance 271 7% Firestone 8 1% Lab 183 15 198 2% Arts & Entertainment 217 6% Total 2,260 $ 100% Restaurant 134 2 136 2% Education 210 6% All Other 495 114 609 8% Wholesale Trade 206 5% Total 7,361 $ 445 $ 7,806$ 100% Other Services 185 5% Construction 132 4% All Other 271 7% Total 3,695 $ 100% Total Loans Outstanding: 17,652 $ Investment CRE Commercial Core Specialty Lending Retail Owner Occupied CRE included in Commercial and Equipment Finance Balances shown are loan book balances, net of acquisition marks. 3Q26 $37MM in 3Q26 run-off for EF Vehicle, EF Macrolease, and Firestone which have discontinued new originations. Major Loan Segments with Industry Breakdown 14
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Non-Owner Occupied CRE and Multifamily Exposures at September 30, 2026 38% 51% 8% 3% 3Q26 Investment CRE Loan to Value (LTV) 15
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5% 18% Investment CRE by Maturity 14% Non-Owner Occupied CRE and Multifamily Exposures at September 30, 2026 13% 3Q26 50% 16
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● Office CRE portfolio totals ~$1.1B or 6.4% of Total Loans. ● Continue to manage the risk of the portfolio with NPLs of ~3.0% and NCOs of ~$1.1MM in 3Q26. ● No meaningful exposure to any major metropolitan areas other than Boston, which represents ~14% of the portfolio. ● Majority of portfolio (~51%) is Class B Office space. ● Weighted Average Loan-to-Value is ~56%. ● Weighted Average Debt Service Coverage is ~1.6x. ● Top 20 loans are ~40% of the total CRE Office portfolio. Office Portfolio & Asset Quality Office Portfolio Metrics Suburban, 68% Urban, 26% Rural, 6% 2026, 9% 2027, 15% 2028, 12%2029 & After, 64% Maturity Schedule ~98% of portfolio is within footprint and 68% is Suburban Majority of portfolio (~76%) matures after 2027 3Q26 17 Office Portfolio, includes Construction 3Q26 Portfolio Criticized Non-Accrual ($ in millions) $A v g Size $ $ Class A 464.7 $ 7.9 $ 91.3 $ 12.1 $ Class B 574.8 $ 1.6 $ 100.7 $ 20.9 $ Class C 84.9 $ 2.2 $ 0.9 $ 0.8 $ 1,124.4$ 2.5 $ 192.9 $ 33.8 $ 3Q26 2Q26 ($ in millions) $% $% CRE Office: Construction 28.7 $ 3% 30.4 $ 3% CRE Office: Owner Occupied 104.2 $ 9% 103.4 $ 9% CRE Office: Non-Owner Occupied 991.5$ 88% 1,035.0 $ 88% Total CRE Office 1,124.4 $ 100% 1,168.8 $ 100%
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● Majority of repricing risk is centered within the Fixed to Floating repricing schedule. Potential refinance risk may be experienced at maturity. ● $2.7B of the $7.4B portfolio will mature or reprice within 24 months. ● Well balanced maturity / repricing profile and rate type profile. ● 4Q 2026 maturities or reprices represents $355MM of maturities, and $120MM in repricing; of which ~12% are Criticized. The majority of which are non- owner Office, Lab, and Multifamily credit relationships. Rate Type Fixed, 33% Fixed via Swap, 29% Floating, 19% Fixed to Floating, 19% 4Q26- 2027, 21% 2028, 19% 2029, 16% 2030 & After, 44% Maturity / Repricing 18 Investment CRE Maturity and Repricing excludes Construction 3Q26
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Securities Portfolio UST 23% Agency 16% Corp 1%MBS 16% CMO 34% Municipals 10% $ in millions Current Par Book Value Fair Value Unreal. G/L Book Yield Duration U.S. Treasuries 480 $ 477 $ 455$ (22)$ 3.08% 2.5 Agency Debentures 326 329 309 (20) 3.44% 3.2 Corp Bonds 21 20 20 0 6.90% 0.6 Agency MBS 365 332 305 (26) 3.88% 5.2 Agency CMO 791 710 669 (41) 4.39% 5.3 Municipals/Other 235 212 198 (13) 5.40% 7.5 Total 2,218 $ 2,080 $ 1,957$ (123)$ 3.98% 4.5 3Q26 Highly liquid, risk averse securities portfolio with prudent duration and minimal extension risk. The entire investment portfolio is classified as Available for Sale. The after tax, mark to market on the portfolio is included in Accumulated Other Comprehensive Income in Stockholders’ Equity. 19
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Interest Rate Risk Float (<3m) 64% Adj. 12% Fixed 24% Loan Originations, $1.04 billion, 6.40% coupon Total Loan Portfolio Mix – Duration 1.5 -0.15% -0.47% -0.74% -1.01% 0.23% 0.70% 1.01% 1.18% 0.33% 0.92% 1.40% 1.82% Cumulative Net Interest Income Change by Quarter 9/30/2026 Flat Balance Sheet, simulations reflect a product weighted beta of ~60% on total interest bearing deposits. Excludes impact of purchase accounting. -100bps Ramp Forward-Implied Rates +200bps Ramp Float (<3m) 41% Adj. 24% Fixed 35% 1Q27 2Q27 3Q274Q26 Amounts as presented may differ slightly from the Company’s Earnings Release due to rounding to foot schedules presented. 3Q26 Accretion related to loan purchase accounting is held constant in each scenario. The impact of changes in loan prepayments on accretion is not reflected at this time. 20
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Wealth Management 21 $ thousands 3Q26 2Q26 Δ %Δ Asset based revenue 4,285 $ 4,177 $ 108 $ 3% Other revenue: Insurance commission revenue 434 416 18 4% Total reported revenue 4,719 $ 4,593 $ 126 3% Linked Quarter (LQ) $3,352 $3,347 $3,338 $3,413 $3,406 3Q 2025 4Q 2025 1Q 2026 2Q 2026 3Q 2026 $ in Millions Assets Under Management
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22 NYSE: BBT