Core Insights - First Busey (BUSE) reported a revenue of $200.25 million for the quarter ended December 2025, marking a year-over-year increase of 71.5% and exceeding the Zacks Consensus Estimate of $196.05 million by 2.14% [1] - The company's EPS for the same period was $0.68, up from $0.53 a year ago, representing an EPS surprise of 11.93% against the consensus estimate of $0.61 [1] Financial Performance Metrics - Efficiency Ratio stood at 57.4%, slightly above the three-analyst average estimate of 56.2% [4] - Net Interest Margin was reported at 3.7%, matching the average estimate based on three analysts [4] - Average Balances of Interest-earning assets were $16.94 billion, compared to the estimated $16.89 billion by two analysts [4] - Total noninterest income reached $42.69 million, surpassing the average estimate of $40.48 million from three analysts [4] - Mortgage revenue was $0.8 million, exceeding the average estimate of $0.57 million [4] - Other noninterest income amounted to $6.79 million, compared to the two-analyst average estimate of $4.1 million [4] - Wealth management fees were reported at $18.1 million, above the average estimate of $17.45 million [4] - Net Interest Income was $157.56 million, compared to the average estimate of $155.59 million [4] - Payment technology solutions revenue was $4.88 million, slightly below the two-analyst average estimate of $5.05 million [4] - Tax-equivalent net interest income was $158.42 million, exceeding the average estimate of $156.39 million [4] - Income on bank-owned life insurance was $1.78 million, above the average estimate of $1.62 million [4] Stock Performance - Shares of First Busey have returned +1.9% over the past month, outperforming the Zacks S&P 500 composite's +0.4% change [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [3]

Financial Performance - Fourth quarter 2025 net income was $60.8 million, or $0.63 per diluted common share, compared to $57.1 million, or $0.58 per diluted common share, in Q3 2025, and $28.1 million, or $0.49 per diluted common share, in Q4 2024[7] - Adjusted net income for Q4 2025 was $65.2 million, or $0.68 per diluted common share, up from $57.4 million, or $0.64 per diluted common share, in Q3 2025, and $30.9 million, or $0.53 per diluted common share, in Q4 2024[13] - Full year 2025 net income totaled $135.3 million, or $1.47 per diluted common share, with a return on average assets of 0.76%[7] - Pre-provision net revenue for Q4 2025 was $80.6 million, compared to $76.6 million in Q3 2025 and $38.4 million in Q4 2024[14] - Net interest income for Q4 2025 was $157,558,000, up from $155,137,000 in Q3 2025, and significantly higher than $81,578,000 in Q4 2024[62] - Total noninterest income reached $42,691,000 in Q4 2025, compared to $41,198,000 in Q3 2025 and $35,221,000 in Q4 2024[62] - Adjusted net income (Non-GAAP) for Q4 2025 was $65,186,000, compared to $62,496,000 in Q3 2025 and $30,872,000 in Q4 2024[66] - Diluted earnings per common share (GAAP) for Q4 2025 was $0.63, up from $0.58 in Q3 2025 and $0.49 in Q4 2024[66] Interest Income and Margin - Net interest margin expanded by 76 basis points to 3.71% in Q4 2025, driven by strong deposit cost control[4] - Total interest income for Q4 2025 was $235.1 million, compared to $244.5 million in Q3 2025 and $131.3 million in Q4 2024[8] - Net interest income increased by $2.4 million in Q4 2025 compared to Q3 2025, primarily due to funding cost optimization initiatives[19] - Total interest-earning assets for Q4 2025 were $16,941 million, with a net interest margin of 3.71%[18] - Total deposits cost of funds decreased from 2.15% in Q3 2025 to 1.91% in Q4 2025, with a spot rate of 1.80% at the end of Q4 2025[20] - Tax-equivalent net interest income (Non-GAAP) reached $158,418,000 in Q4 2025, compared to $155,925,000 in Q3 2025 and $82,024,000 in Q4 2024[71] Noninterest Income and Expenses - Total noninterest expense for Q4 2025 was $120.3 million, compared to $120.0 million in Q3 2025 and $78.6 million in Q4 2024[8] - Total noninterest income for Q4 2025 was $42,691 thousand, a 3.6% increase from Q3 2025 and a 21.2% increase from Q4 2024[21] - Adjusted noninterest income (Non-GAAP) for Q4 2025 was $43,358,000, compared to $41,530,000 in Q3 2025 and $35,417,000 in Q4 2024[71] - Total noninterest expense increased by 0.3% compared to Q3 2025, primarily due to increases in other noninterest expenses[25] - Compared to Q4 2024, total noninterest expense increased by 53.0%, mainly due to nonrecurring acquisition expenses related to the CrossFirst acquisition[25] - Adjusted noninterest expense for Q4 2025 was $111.072 million, a 2.3% increase from Q3 2025 and a 52.8% increase from Q4 2024[26] Asset and Deposit Management - Total assets as of December 31, 2025, were $18,309 million, compared to $18,662 million at September 30, 2025[18] - Total deposits were $14.906 billion as of December 31, 2025, compared to $15.070 billion as of September 30, 2025, and $9.982 billion as of December 31, 2024[31] - Loan balances remained stable quarter-over-quarter, while deposits decreased by $164.2 million due to a strategic reduction of brokered and high-cost funding[4] - Core deposits accounted for 93.7% of total deposits as of December 31, 2025, with 37% estimated to be uninsured and uncollateralized[43] - Total portfolio loans were $13.568 billion as of December 31, 2025, a slight decrease from $13.598 billion as of September 30, 2025, and an increase from $7.697 billion as of December 31, 2024[33] Risk Management and Economic Conditions - Busey faces various risks that could materially affect its financial results, including economic conditions, regulatory changes, and competition in the financial services sector[77] - The company is particularly concerned about the impact of elevated interest rates on its assets and the potential for increased competition from non-bank entities such as fintech companies[77] - Busey has highlighted the importance of managing liquidity risk, which may increase reliance on non-core funding sources and affect its cost of funds[77] - The company is also focused on maintaining an adequate level of allowance for credit losses on loans to mitigate credit risk[77] - Busey is monitoring the economic impact of external events such as climate change and natural disasters on its operations and customer base[77] Capital and Efficiency Ratios - Capital position remained strong, with Common Equity Tier 1 Capital to Risk Weighted Assets at 12.44%, a 11 basis point increase from the prior quarter[4] - Busey's efficiency ratio was 57.4% for Q4 2025, an improvement from 58.5% in Q3 2025 and 64.8% in Q4 2024[27] - The efficiency ratio (Non-GAAP) improved to 57.43% in Q4 2025 from 58.51% in Q3 2025 and 64.84% in Q4 2024[71] - The tangible common equity to tangible assets ratio (Non-GAAP) was 10.06% as of December 31, 2025, up from 9.88% as of September 30, 2025[73] Stock and Dividends - Busey executed stock repurchases of 1,251,100 shares at an average price of $23.84 per share for a total of $29.8 million in Q4 2025[48] - Busey paid a cash dividend of $0.25 per share in Q4 2025, with a planned increase to $0.26 per share in January 2026[46][47]

Core Insights - First Busey Corporation reported strong financial performance in the fourth quarter of 2025, with net income of $60.8 million, or $0.63 per diluted share, marking an increase from $57.1 million in the previous quarter and $28.1 million in the same quarter last year [5][6]. Financial Performance - The adjusted return on average assets improved by 39 basis points to 1.41%, while the net interest margin expanded by 76 basis points to 3.71% due to effective deposit cost control [3][5]. - Total noninterest income for the fourth quarter was $42.7 million, a 3.6% increase from the previous quarter and a 21.2% increase year-over-year, driven by wealth management fees and other noninterest income [23][24]. - Full-year 2025 net income reached $135.3 million, or $1.47 per diluted share, with an annualized return on average assets of 0.76% [6][12]. Wealth Management and Assets - Wealth management fee income reached a record high, with assets under care increasing by 4.7% quarter-over-quarter to $15.66 billion, supported by strong investment performance [3][29]. - The company’s capital position remained robust, with Common Equity Tier 1 Capital to Risk Weighted Assets at 12.44%, reflecting an 11 basis point increase from the prior quarter [3]. Noninterest Expense and Efficiency - Total noninterest expense increased by 0.3% compared to the previous quarter, primarily due to nonrecurring acquisition expenses related to the CrossFirst acquisition [27][28]. - The efficiency ratio improved to 57.4% for the fourth quarter, down from 58.5% in the previous quarter and 64.8% in the same quarter last year [31]. Organizational Update - The Board of Directors announced the separation of Michael J. Maddox from the company, with Van A. Dukeman continuing as Chairman and CEO for at least two more years [4].

Q4 2025 EARNINGS INVESTOR PRESENTATION January 27, 2026 Additional information concerning Busey and its business, including additional factors that could materially affect Busey's financial results, is included in Busey's filings with the Securities and Exchange Commission. 4Q25 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 2 Forward-Looking Statements This presentation may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 ...

Dividends - Old Second Bancorp pays an annual dividend of $0.28 per share with a dividend yield of 1.4% while First Busey pays an annual dividend of $1.00 per share with a dividend yield of 4.0% [1] - Old Second Bancorp pays out 18.5% of its earnings as dividends, whereas First Busey pays out 87.0%, indicating potential future sustainability issues for First Busey [1] - First Busey has a longer track record of dividend growth, having raised its dividend for 10 consecutive years compared to Old Second Bancorp's 1 year [1] Insider & Institutional Ownership - 67.8% of Old Second Bancorp shares are owned by institutional investors, compared to 56.5% for First Busey [2] - Company insiders own 3.8% of Old Second Bancorp shares, while First Busey insiders own 3.9% [2] Valuation & Earnings - Old Second Bancorp has gross revenue of $341.72 million and net income of $85.26 million, with an earnings per share (EPS) of $1.51 and a price-to-earnings (P/E) ratio of 13.58 [4] - First Busey has gross revenue of $663.36 million and net income of $113.69 million, with an EPS of $1.15 and a P/E ratio of 21.89 [4][5] - Old Second Bancorp is trading at a lower P/E ratio, indicating it is more affordable compared to First Busey [5] Profitability - Old Second Bancorp has a net margin of 18.89%, return on equity of 12.34%, and return on assets of 1.51% [8] - First Busey has a net margin of 11.00%, return on equity of 9.05%, and return on assets of 1.11% [8] Analyst Recommendations - Old Second Bancorp has a consensus target price of $21.63, indicating a potential upside of 5.44%, while First Busey has a target price of $26.33 with a potential upside of 4.62% [10] - Old Second Bancorp has a stronger consensus rating with a score of 3.00 compared to First Busey's score of 2.43 [10] Summary - Old Second Bancorp outperforms First Busey in 11 out of 18 factors compared between the two stocks [11]

Financial Performance - Net income for the three months ended September 30, 2025, was reported at $81 million, compared to $50 million for the same period in 2024, reflecting a year-over-year increase of 62%[16] - Net income for Q3 2025 was $57,098,000, compared to $32,004,000 in Q3 2024, marking a 78.5% increase[19] - Net income for the three months ended September 30, 2025, was $57,098 thousand, compared to $32,004 thousand for the same period in 2024, representing a 78.4% increase[22] - Total comprehensive income for the nine months ended September 30, 2025, was $144,750,000, compared to $133,476,000 in 2024, showing an 8.5% increase[19] - Net income for the nine months ended September 30, 2024, was $85,586,000, compared to $74,512,000 for the same period in 2025, reflecting a decrease of approximately 12.9%[28] Asset Growth - Total assets increased to $18.19 billion as of September 30, 2025, up from $12.05 billion at December 31, 2024, representing a growth of 51.5%[15] - Portfolio loans net of allowance for credit losses (ACL) rose to $13.42 billion, up from $7.61 billion at the end of 2024, marking a 76.5% increase[15] - Total deposits reached $15.07 billion, a significant increase from $9.98 billion at December 31, 2024, indicating a growth of 50.5%[15] - Total stockholders' equity rose to $2.45 billion, up from $1.38 billion at December 31, 2024, representing an increase of 77%[15] Income and Expenses - Total interest income for Q3 2025 was $244,505,000, a 81.6% increase from $134,606,000 in Q3 2024[17] - Noninterest income for the quarter was $89 million, showing an increase from $72 million in the previous year, which is a growth of 23.6%[16] - The company reported a noninterest expense of $92 million for the quarter, compared to $80 million in the same period last year, reflecting a rise of 15%[16] - Total noninterest expense for the nine months ended September 30, 2025, was $359,881,000, compared to $222,872,000 in 2024, indicating a 61.5% increase[17] Credit Losses and Allowance - The allowance for credit losses (ACL) was $174 million as of September 30, 2025, compared to $83 million at December 31, 2024, representing a significant increase of 109.6%[15] - The provision for credit losses for Q3 2025 was $(985,000), a decrease from $409,000 in Q3 2024, indicating improved credit quality[17] - The provision for credit losses increased significantly to $50,308,000 in 2025 from $6,677,000 in 2024, indicating a substantial rise in expected credit losses[28] Stock and Equity - The company’s common stock increased from 59.55 million shares issued at the end of 2024 to 92.69 million shares as of September 30, 2025, reflecting a growth of 55.6%[15] - Total stockholders' equity as of September 30, 2025, was $2,448,835 thousand, up from $1,402,884 thousand as of September 30, 2024, indicating a growth of 74.6%[23] - Cash dividends on common stock for the nine months ended September 30, 2025, amounted to $58,973 thousand, with a dividend rate of $0.75 per share[23] Acquisitions - Busey completed the acquisition of CrossFirst Bankshares on March 1, 2025, creating a commercial bank with 79 locations across 10 states[72] - The total consideration paid for the CrossFirst acquisition was approximately $808.98 million, resulting in goodwill of $49.6 million[89] - Busey acquired M&M Bank on April 1, 2024, enhancing its service offerings with M&M's Life Equity Loan products and expanding its presence in suburban Chicago[80] - The total consideration for the M&M acquisition was approximately $49.58 million, leading to goodwill of $15.9 million[86] Debt and Liabilities - Long-term borrowings as of September 30, 2025, totaled $92,431,000, with FHLB borrowings at $79,174,000 and a weighted average interest rate of 2.22%[172] - Total lease liabilities rose to $37.858 million as of September 30, 2025, from $11.040 million as of December 31, 2024[160] - The company incurred pre-tax costs to consummate the merger with CrossFirst of $7,531 thousand for the nine months ended September 30, 2025, compared to $1,463 thousand for M&M during the same period[98] Securities and Investments - The fair value of debt securities available for sale as of September 30, 2025, was $2,099,259 thousand, down from an amortized cost of $2,251,731 thousand, resulting in unrealized losses of $162,225 thousand[100] - The total debt securities held to maturity as of September 30, 2025, had a fair value of $659,471 thousand, with an amortized cost of $784,821 thousand, reflecting unrealized losses of $125,350 thousand[100] - Realized net losses on debt securities for the nine months ended September 30, 2025, were $15,549 thousand, compared to $6,817 thousand for the same period in 2024, indicating increased losses from repositioning strategies[107] Loan Portfolio - Total portfolio loans amounted to $7,697,087 thousand, reflecting a significant increase in lending activities[126] - The total commercial real estate (CRE) loans reached $5,424,095 thousand as of September 30, 2025, up from $3,269,564 thousand as of December 31, 2024[118] - The overall risk assessment indicates a healthy loan portfolio with a majority classified as Pass across various segments[128] Lease and Rental Income - Total lease costs for the three months ended September 30, 2025, were $1,897,000, compared to $635,000 for the same period in 2024, representing a 198% increase[162] - Operating cash flows from operating leases for the nine months ended September 30, 2025, were $7,212,000, up from $2,915,000 in 2024, indicating a 147% increase[162] - Rental income for the three months ended September 30, 2025, was $214,000, slightly up from $206,000 in 2024, showing a 4% increase[165] Regulatory and Compliance - Busey does not expect the adoption of ASU 2024-04 regarding convertible debt to impact its financial position as it currently has no convertible debt[65] - Busey is currently evaluating the impact of recently issued accounting standards on its financial position and results of operations[62] - The new federal tax legislation enacted on July 4, 2025, did not have a material impact on Busey's results of operations[51]

Group 1 - The stock of First Busey Corporation (BUSE) is experiencing significant attention due to high implied volatility in the options market, particularly the Nov 21, 2025 $10 Call option [1] - Implied volatility indicates market expectations for future stock movement, suggesting potential upcoming events that could lead to substantial price changes [2] - Currently, First Busey holds a Zacks Rank 3 (Hold) in the Banks – Midwest industry, which is in the top 12% of the Zacks Industry Rank [3] Group 2 - Over the past 30 days, no analysts have raised their earnings estimates for the current quarter, while three have lowered their estimates, resulting in a decrease in the Zacks Consensus Estimate from 62 cents to 61 cents per share [3] - The high implied volatility may indicate a developing trading opportunity, as options traders often seek to sell premium on such options, hoping the stock does not move as much as anticipated [4]

Core Viewpoint - First Busey (BUSE) reported quarterly earnings of $0.64 per share, exceeding the Zacks Consensus Estimate of $0.62 per share, and showing an increase from $0.58 per share a year ago, indicating a positive earnings surprise of +3.23% [1][2] Financial Performance - The company achieved revenues of $196.34 million for the quarter ended September 2025, surpassing the Zacks Consensus Estimate by 0.74%, and up from $118.49 million year-over-year [2] - Over the last four quarters, First Busey has consistently surpassed consensus EPS estimates four times and topped revenue estimates three times [2] Stock Performance and Outlook - First Busey shares have declined approximately 1.6% year-to-date, contrasting with the S&P 500's gain of 16.9% [3] - The company's earnings outlook is crucial for investors, as it reflects current consensus earnings expectations for upcoming quarters [4] Earnings Estimate Revisions - Prior to the earnings release, the trend for estimate revisions was unfavorable, resulting in a Zacks Rank 4 (Sell) for the stock, suggesting expected underperformance in the near future [6] - The current consensus EPS estimate for the upcoming quarter is $0.62 on revenues of $196.15 million, and for the current fiscal year, it is $2.48 on revenues of $718.9 million [7] Industry Context - The Banks - Midwest industry, to which First Busey belongs, is currently ranked in the top 35% of over 250 Zacks industries, indicating a favorable industry outlook [8]

Financial Performance - Third quarter 2025 net income was $57.1 million, or $0.58 per diluted share, compared to $47.4 million, or $0.52 per diluted share in Q2 2025, and $32.0 million, or $0.55 per diluted share in Q3 2024[5]. - Adjusted net income available to common stockholders was $57.4 million, or $0.64 per diluted share, for Q3 2025, compared to $57.2 million, or $0.63 per diluted share in Q2 2025, and $32.9 million, or $0.57 per diluted share in Q3 2024[10]. - Pre-provision net revenue was $76.6 million for Q3 2025, compared to $64.2 million in Q2 2025 and $42.2 million in Q3 2024[11]. - Adjusted net income (Non-GAAP) for Q3 2025 reached $62,496 thousand, compared to $57,394 thousand in Q2 2025 and $32,928 thousand in Q3 2024, reflecting a year-over-year growth of 89.8%[62]. - Net income for Q3 2025 was $57,098 thousand, an increase of 20.4% from $47,404 thousand in Q2 2025 and a significant rise from $32,004 thousand in Q3 2024[62]. Interest Income and Margin - Total interest income for Q3 2025 was $244.5 million, while total interest expense was $89.4 million, resulting in net interest income of $155.1 million[8]. - Net interest margin expanded by 9 basis points to 3.58% in Q3 2025, driven by the runoff of $794.6 million high-cost deposits[4]. - Net interest income (GAAP) for Q3 2025 was $155,137 thousand, up from $153,183 thousand in Q2 2025 and significantly higher than $82,647 thousand in Q3 2024[64]. - The adjusted net interest margin (Non-GAAP) for Q3 2025 was 3.45%, compared to 3.33% in Q2 2025 and 2.97% in Q3 2024, indicating improved efficiency in interest income generation[64]. Asset Quality and Credit Metrics - Credit quality improved with classified assets as a percentage of capital falling to 7.0% and net charge-offs at 0.17%[4]. - Net charge-offs for the three months ended September 30, 2025, were $5.8 million, a decrease from $12.9 million in the previous quarter, and an increase from $0.2 million in the same quarter of 2024[32]. - The allowance for credit losses was $174.2 million as of September 30, 2025, representing 1.28% of total portfolio loans, with a coverage ratio of 3.67 times non-performing loans[31]. - Non-performing assets represented 0.32% of total assets as of September 30, 2025, a slight increase from 0.31% as of June 30, 2025, and a significant increase from 0.07% as of September 30, 2024[30]. Deposits and Borrowings - Total deposits were $15,070.2 million as of September 30, 2025, down from $15,801.8 million as of June 30, 2025, and up from $9,943.2 million as of September 30, 2024[37]. - Core deposits accounted for 93.8% of total deposits as of September 30, 2025, with an estimated 35% being uninsured and uncollateralized[38]. - Total borrowings increased by 2.3% compared to the second quarter of 2025, totaling $272.9 million, but decreased by 9.7% compared to the third quarter of 2024[39]. Operational Efficiency - Total noninterest expense decreased by 6.1% to $120.02 million in Q3 2025 compared to Q2 2025, but increased by 58.9% compared to Q3 2024[19]. - The efficiency ratio improved to 58.5% in Q3 2025 from 63.9% in Q2 2025 and 61.8% in Q3 2024[20]. - The adjusted efficiency ratio (Non-GAAP) improved to 58.51% in Q3 2025 from 61.81% in Q3 2024, indicating enhanced operational efficiency[67]. Capital and Liquidity - Common Equity Tier 1 Capital grew to 12.33%, with tangible common equity to tangible assets increasing to 9.9%[4]. - Busey's common equity Tier 1 capital to risk-weighted assets ratio was 12.33% as of September 30, 2025, providing a buffer of over $810 million above required levels[42]. - As of September 30, 2025, Busey's available liquidity sources totaled $7.85 billion, with cash flows from maturing securities expected to be approximately $90.5 million for Q4 2025 and $305.9 million for 2026[41]. Wealth Management and Noninterest Income - Noninterest income totaled $41.20 million in Q3 2025, a decrease of 8.2% from Q2 2025, but an increase of 14.9% compared to Q3 2024[16]. - Wealth management fees increased by 2.4% to $17.18 million in Q3 2025, with assets under care growing to $14.96 billion from $14.10 billion in Q2 2025[17]. - Total noninterest income (GAAP) for Q3 2025 was $41,198,000, compared to $35,845,000 in Q3 2024, reflecting a 14.5% increase[67]. Strategic Initiatives - The company expects balance sheet optimization to be largely complete by year-end, aiming for stability in loans and deposits[4]. - The company expects to realize 50% of the $25 million annual pre-tax expense synergies from the CrossFirst acquisition in 2025 and 100% in 2026[19]. - The company has expanded its footprint into new states as part of its growth strategy, which includes adjustments related to the CrossFirst acquisition[63]. Stockholder Returns - During Q3 2025, Busey paid dividends of $0.25 per share on common stock and $20.00 per share on Series A Non-Cumulative Perpetual Preferred Stock[44]. - In Q3 2025, Busey repurchased 580,000 shares of common stock at a weighted average price of $23.36 per share, totaling $13.5 million[45].

Core Insights - First Busey Corporation reported a net income of $57.1 million for Q3 2025, an increase from $47.4 million in Q2 2025 and $32.0 million in Q3 2024, with diluted EPS at $0.58 [3][4] - The adjusted net income available to common stockholders was $57.4 million, or $0.64 per diluted common share, reflecting a slight increase from $57.2 million in Q2 2025 [5][6] - The company optimized its balance sheet, resulting in an improved adjusted return on average assets of 1.33% and a net interest margin of 3.58%, up 9 basis points from the previous quarter [2][12] Financial Performance - Total interest income for Q3 2025 was $244.5 million, while total interest expense was $89.4 million, leading to a net interest income of $155.1 million [4][13] - Noninterest income decreased by 8.2% compared to Q2 2025, primarily due to a decline in net securities gains, but increased by 14.9% compared to Q3 2024 [13][15] - Total noninterest expense was $120.0 million, a decrease of 6.1% from Q2 2025, but an increase of 58.9% from Q3 2024, largely due to acquisition-related costs [16][17] Asset Quality - The allowance for credit losses was $174.2 million, representing 1.28% of total portfolio loans, with a coverage ratio of 3.67 times non-performing loans [30][31] - Non-performing assets decreased slightly to $57.7 million, accounting for 0.32% of total assets, while classified assets fell to $161.1 million [29][30] Deposits and Borrowings - Total deposits amounted to $15.1 billion, with a strategic reduction of high-cost, non-relationship deposits by $794.6 million during the quarter [35][36] - Core deposits represented 93.8% of total deposits, indicating a strong deposit franchise [36] - Total borrowings increased by 2.3% from Q2 2025, totaling $273.0 million, with no short-term borrowings reported [39] Balance Sheet Strength - Total assets as of September 30, 2025, were $18.2 billion, a decrease from $18.9 billion at the end of Q2 2025 [26][20] - Common Equity Tier 1 Capital grew to 12.33%, reflecting strong capital levels [2][3]