ASSOCIATED BANC-CORP

Previous wording

•Provision for credit losses was $47.0 million compared to $68.0 million for the first nine months of 2024, driven by nominal credit movement coupled with general macroeconomic trends.

Current wording

•Provision for credit losses was $11.0 million compared to $13.0 million for the first three months of 2025, driven by nominal credit movement coupled with general macroeconomic trends.

Previous wording

(c) Nonaccrual loans and loans held for sale have been included in the average balances.

Current wording

(c) Loans held for sale have been included in the average balances.

Previous wording

•Fully tax-equivalent net interest income and net interest income increased $115.7 million and $114.2 million, or 15%, as compared to the first nine months of 2024, respectively. The average yield on earning assets decreased 18 bp and the cost of interest-bearing liabilities decreased 54 bp from the first nine months of 2024.The increase in net interest income was driven, in part, by the actions taken by the Corporation as part of the balance sheet repositioning announced in the fourth quarter of 2024 which sold off lower yielding investment securities and residential mortgages. Additionally, the Corporation saw organic growth in net interest income from the continued growth in higher yielding loans in commercial and industrial and auto finance. Finally, given that the Corporation is slightly asset sensitive, the Federal Reserve decreasing the federal funds target interest rate by 100 bp in the second half of 2024 caused contraction in the average yield on earning assets; however, this was more than offset by the repricing of deposits downward in line with market rates. See sections Interest Rate Risk and Quantitative and Qualitative Disclosures about Market Risk for a discussion of interest rate risk and market risk.

Current wording

•Fully tax-equivalent net interest income and net interest income increased $21.1 million and $21.2 million, or 7%, as compared to the first three months of 2025, respectively. The average yield on earning assets decreased 25 bp and the cost of interest-bearing liabilities decreased 39 bp from the first three months of 2025. The increase in net interest income was primarily driven by higher earning assets along with an improved interest rate spread. Asset yields benefitted from an asset mix shift away from lower yielding residential mortgages to higher yielding commercial and industrial loans, while interest bearing liability rates decreased as the interest rate environment declined. See sections Interest Rate Risk and Quantitative and Qualitative Disclosures about Market Risk for a discussion of interest rate risk and market risk.

Previous wording

The Corporation records income tax expense during interim periods based on the best estimate of the full year's effective tax rate as adjusted for discrete items, if any, taken into account in the relevant interim period. Each quarter, the Corporation updates its estimate of the annual effective tax rate and the effect of any change in the estimated rate is recorded on a cumulative basis. The Corporation recognized income tax expense of $77.4 million for the nine months ended September 30, 2025, compared to income tax expense of $27.5 million for the nine months ended September 30, 2024. The Corporation's effective tax rate from continuing operations was 18.64% and 8.79% for the nine months ended September 30, 2025, and 2024, respectively. The increase in income tax expense of $49.9 million and higher effective tax rate during the first nine months of 2025 as compared to the same period of 2024 were primarily due to a strategic reallocation of the investment portfolio and the adoption of a legal entity rationalization plan that resulted in the recognition of deferred benefits in 2024 and increased net income in 2025.

Current wording

The Corporation records income tax expense during interim periods based on the best estimate of the full year's effective tax rate as adjusted for discrete items, if any, taken into account in the relevant interim period. Each quarter, the Corporation updates its estimate of the annual effective tax rate and the effect of any change in the estimated rate is recorded on a cumulative basis. The Corporation recognized income tax expense of $33.2 million for the three months ended March 31, 2026, compared to income tax expense of $19.4 million for the three months ended March 31, 2025. The Corporation's effective tax rate from continuing operations was 21.75% and 16.03% for the three months ended March 31, 2026, and 2025, respectively. The increase in income tax expense of $13.8 million and higher effective tax rate during the first three months of 2026 as compared to the same period of 2025 was primarily due to a reduction in the valuation allowance that occurred in the first three months of 2025, making that quarter’s tax expense lower than it otherwise would have been.

Previous wording

•At September 30, 2025, total assets were $44.5 billion, up $1.4 billion, or 3%, from December 31, 2024.

Current wording

•At March 31, 2026, total assets were $45.6 billion, up $391.1 million, or 1%, from December 31, 2025.

Previous wording

◦Interest bearing deposits in other financial institutions were $802.3 million at September 30, 2025, up $348.7 million, or 77%, from December 31, 2024. Federal funds sold and securities purchased under agreement to resell were $0.1 million at September 30, 2025, down $21.9 million, or 100% from December 31, 2024. See Consolidated Statements of Cash Flows for detailed information.

Current wording

◦Cash and due from banks were $465.3 million at March 31, 2026, down 109.4 million, or 19%, from December 31, 2025. Interest bearing deposits in other financial institutions were $920.7 million at March 31, 2026, down $223.4 million, or 20%, from December 31, 2025. See the Consolidated Statements of Cash Flows for detailed information on those fluctuations.

Previous wording

•At September 30, 2025, total liabilities were $39.6 billion, up $1.2 billion, or 3%, from December 31, 2024.

Current wording

•At March 31, 2026, total liabilities were $40.6 billion, up $368.6 million, or 1%, from December 31, 2025.

Previous wording

•At September 30, 2025, the loans to deposits ratio was 88.73%, up from 85.92% at December 31, 2024.

Current wording

•At March 31, 2026, the loans to deposits ratio was 88.99%, up from 87.65% at December 31, 2025.

Previous wording

The Corporation has long-term guidelines relative to the proportion of Commercial and Business, CRE, and Consumer loan commitments within the overall loan portfolio, with each targeted to represent 30% to 40% of the overall loan portfolio. The targeted long-term guidelines were unchanged during 2024 and the first nine months of 2025. Furthermore, certain sub-asset classes within the respective portfolios are further defined and dollar limitations are placed on these sub-portfolios. These guidelines and limits are reviewed quarterly and approved annually by the Enterprise Risk Committee of the Corporation’s Board of Directors. These guidelines and limits are designed to create balance and diversification within the loan portfolios.

Current wording

The Corporation has long-term guidelines relative to the proportion of Commercial and Business, CRE, and Consumer loans within the overall loan portfolio. Furthermore, certain sub-asset classes within the respective portfolios are further defined and dollar limitations are placed on these sub-portfolios. These guidelines and limits are reviewed quarterly and approved annually by the ERC. These guidelines and limits are designed to create balance and diversification within the loan portfolios.

Previous wording

At September 30, 2025, $21.2 billion, or 69%, of the loans outstanding and $18.0 billion, or 90%, of the commercial loans outstanding were floating rate, adjustable rate, re-pricing within one year, or maturing within one year.

Current wording

At March 31, 2026, $22.2 billion, or 70%, of the loans outstanding and $18.9 billion, or 90%, of the commercial loans outstanding were floating rate, adjustable rate, re-pricing within one year, or maturing within one year.

Previous wording

An active credit risk management process is used for commercial loans to ensure that sound and consistent credit decisions are made. Credit risk is controlled by detailed underwriting procedures, comprehensive loan administration, and periodic review of borrowers’ outstanding loans and commitments. Borrower relationships are formally reviewed and graded on an ongoing basis for early identification of potential problems. Further analysis by customer, industry, and geographic location are performed to monitor trends, financial performance, and concentrations. See Note 6 Loans of the notes to consolidated financial statements for additional information on managing overall credit quality.

Current wording

An active credit risk management process is used for commercial loans to ensure that sound and consistent credit decisions are made. Credit risk is controlled by detailed underwriting procedures, comprehensive loan administration, and periodic review of borrowers’ outstanding loans and commitments. Borrower relationships are formally reviewed and graded on an ongoing basis for early identification of potential problems. Further analysis by customer, industry, and geographic location is performed to monitor trends, financial performance, and concentrations. See Note 6 Loans of the notes to consolidated financial statements for additional information on managing overall credit quality.

Previous wording

(b) 65% of the total utilities exposure comes from renewable energy sources (wind, solar, hydroelectric, and geothermal).

Current wording

(a) 70% of the total utilities exposure comes from renewable energy sources (wind, solar, hydroelectric, and geothermal).

Previous wording

Residential mortgages: Residential mortgage loans are primarily first-lien home mortgages with a maximum loan-to-collateral value without credit enhancement (e.g. private mortgage insurance) of 80%. The residential mortgage portfolio is focused primarily in the Corporation's three-state branch footprint, with approximately 89% of the outstanding loan balances in the Corporation's branch footprint at September 30, 2025. The rates on adjustable rate mortgages adjust based upon the movement in the underlying index which is then added to a margin and rounded to the nearest 0.125%. That result is then subjected to any periodic caps to produce the borrower's interest rate for the coming term. Adjustable rate mortgages are typically offered with an initial fixed rate term of 5, 7 or 10 years.

Current wording

Residential mortgages: Residential mortgage loans are primarily first-lien home mortgages with a maximum loan-to-collateral value without credit enhancement (e.g. private mortgage insurance) of 80%. The residential mortgage portfolio is focused primarily in the Corporation's four-state branch footprint, with approximately 94% of the outstanding loan balances in the Corporation's branch footprint at March 31, 2026. The rates on adjustable rate mortgages adjust based upon the movement in the underlying index which is then added to a margin and rounded to the nearest 0.125%. That result is then subjected to any periodic caps to produce the borrower's interest rate for the coming term. Adjustable rate mortgages are typically offered with an initial fixed rate term of 5, 7 or 10 years.

Previous wording

•Total nonaccrual loans decreased $17.1 million, or 14%, from December 31, 2024, and decreased $22.3 million, or 17%, from September 30, 2024. The changes from both periods were primarily driven by decreases in commercial real estate - investor and commercial and business lending. See Note 6 Loans of the notes to consolidated financial statements and Table 10 for additional disclosures on the changes in asset quality.

Current wording

•Total nonaccrual loans increased $10.2 million, or 10%, from December 31, 2025, and decreased $24.2 million, or 18%, from March 31, 2025. The increase from December 31, 2025 was primarily driven by increases in commercial and industrial and auto finance lending, partially offset by decreases in residential mortgage and home equity lending. The decrease from March 31, 2025 was primarily driven by decreases in CRE - investor and residential mortgage lending, partially offset by increases in commercial and industrial and auto finance lending. See Note 6 Loans of the notes to consolidated financial statements and Table 10 for additional disclosures on the changes in asset quality.

Previous wording

•YTD net charge offs decreased $21.6 million from September 30, 2024, primarily driven by a decrease within commercial and industrial lending, partially offset by an increase in commercial real estate - investor lending. See Table 11 and Table 12 for additional information on the activity in the ACLL.

Current wording

•YTD net charge offs decreased $3.4 million from March 31, 2025, primarily driven by decreases within commercial and industrial and CRE - investor, partially offset by an increase in auto finance lending. See Table 11 and Table 12 for additional information on the activity in the ACLL.

Previous wording

•Total deposits, which are the Corporation's largest source of funds, increased $233.4 million, or 1% from December 31, 2024, and increased $1.3 billion, or 4%, from September 30, 2024. The increase from December 31, 2024, was primarily driven by increases in other time deposits, network transaction deposits, savings, and noninterest bearing demand deposits, offset by decreases in brokered CDs, money market and interest-bearing demand deposits, while the increase from September 30, 2024 was driven by increases in all deposit categories except brokered CD's and money market deposits.

Current wording

•Total deposits, which are the Corporation's largest source of funds, increased $179.2 million, or 1% from December 31, 2025, and increased $535.1 million, or 2%, from March 31, 2025. The increase from December 31, 2025, was driven by increases in other time deposits, savings, and interest bearing demand deposits, offset by decreases in network transaction deposits and brokered CDs, while the increase from March 31, 2025 was driven by increases in all deposit categories except brokered CD's, network transaction deposits, and noninterest-bearing demand deposits.

Previous wording

•Estimated uninsured and uncollateralized deposits, excluding intercompany deposits, were 24.9% of total deposits at September 30, 2025, compared to 23.0% at December 31, 2024 and 22.3% at September 30, 2024.

Current wording

•Estimated uninsured and uncollateralized deposits, excluding intercompany deposits, were 25.7% of total deposits at March 31, 2026, compared to 26.5% at December 31, 2025 and 26.1% at March 31, 2025.

Previous wording

The Corporation performs dynamic scenario analysis in accordance with industry best practices. Measures have been established to ensure the Corporation has sufficient high quality short-term liquidity to meet cash flow requirements under stressed scenarios. In addition, the Corporation also reviews static measures such as deposit funding as a percentage of total assets and liquid asset levels. Strong capital ratios, credit quality, and core earnings are also essential to maintaining cost effective access to wholesale funding markets. At September 30, 2025, the Corporation was in compliance with its internal liquidity objectives and had sufficient asset-based liquidity to meet its obligations even under a stressed scenario.

Current wording

The Corporation performs dynamic scenario analysis in accordance with industry best practices. Measures have been established to ensure the Corporation has sufficient high quality short-term liquidity to meet cash flow requirements under stressed scenarios. In addition, the Corporation also reviews static measures such as deposit funding as a percent of total assets and liquid asset levels. Strong capital ratios, credit quality, and core earnings are also essential to maintaining cost effective access to wholesale funding markets. At March 31, 2026, the Corporation was in compliance with its internal liquidity objectives and had sufficient asset-based liquidity to meet its obligations even under a stressed scenario.

Previous wording

•Lines of credit with the Federal Reserve Bank and FHLB, which require eligible loan and investment collateral to be pledged. Based on the amount of collateral pledged, the FHLB established a collateral value from which the Bank may draw advances, and issue letters of credit in favor of public fund depositors, against the collateral. As of September 30, 2025, the Bank had $5.9 billion available for future funding. The Federal Reserve Bank also establishes a collateral value of assets to support borrowings from the discount window. As of September 30, 2025, the Bank had $5.7 billion available for discount window borrowings.

Current wording

•Lines of credit with the Federal Reserve Bank and FHLB, which require eligible loan and investment collateral to be pledged. Based on the amount of collateral pledged, the FHLB established a collateral value from which the Bank may draw advances, and issue letters of credit in favor of public fund depositors, against the collateral. As of March 31, 2026, the Bank had $5.6 billion available for future funding. The Federal Reserve Bank also establishes a collateral value of assets to support borrowings from the discount window. As of March 31, 2026, the Bank had $6.5 billion available for discount window borrowings.

Previous wording

•Global Bank Note Program issuances; the Bank has implemented a program pursuant to which it may from time to time offer up to $2.0 billion aggregate principal amount of its unsecured senior and subordinated notes.

Current wording

•Global Bank Note Program issuances; the Bank has implemented a program pursuant to which it may offer up to $2.0 billion aggregate principal amount of its unsecured senior and subordinated notes.

Previous wording

For the nine months ended September 30, 2024, net cash provided by operating and financing activities was $373.1 million and $843.1 million, respectively, while net cash used in investing activities was 1.2 billion, for a net increase in cash and cash equivalents of 43.2 million since year-end 2023. At September 30, 2024, assets of 42.2 billion increased $1.2 billion, or 3%, from year-end 2023. On the funding side, deposits of 33.6 billion increased $108.2 million, or 0%, from year-end 2023, short-term funding increased $590.2 million, or 181%, and FHLB advances increased $26.9 million, or 1%.

Current wording

For the three months ended March 31, 2026, net cash provided by operating and financing activities was $135.9 million and $354.3 million, respectively, while investing activities used net cash of $824.2 million, for a net decrease in cash and cash equivalents of $334.0 million since year-end 2025. At March 31, 2026, assets of $45.6 billion increased $391.1 million, or 1%, from year-end 2025. On the funding side, deposits of $35.7 billion increased $179.2 million, or 1% from year-end 2025, short-term funding increased $87.8 million, or 29%, and FHLB advances increased $153.7 million or 5%.

Previous wording

For the nine months ended September 30, 2025, net cash provided by operating and financing activities was $397.6 million and $1.1 billion, respectively, while net cash used in investing activities was $1.2 billion, for a net increase in cash and cash equivalents of $273.2 million since year-end 2024. At September 30, 2025, assets of $44.5 billion increased $1.4 billion, or 3%, from year-end 2024. On the funding side, deposits of $34.9 billion increased $233.4 million, or 1% from year-end 2024, short-term funding decreased $70.7 million, or 15%, FHLB advances increased $1.4 billion or 74%, and other long-term funding decreased $243.6 million, or 29%.

Current wording

For the three months ended March 31, 2025, net cash provided by operating and financing activities was $98.2 million and $241.8 million, respectively, while investing activities used net cash of $127.1 million, for a net increase in cash and cash equivalents of $212.9 million since year-end 2024. At March 31, 2025, assets of $43.3 billion increased $286.1 million, or 1%, from year-end 2024. On the funding side, deposits of $35.2 billion increased $548.3 million, or 2%, from year-end 2024, short-term funding decreased $159.0 million, or 34%, and FHLB advances increased $173.5 million, or 9%.

Previous wording

While a gradual shift in interest rates was used in this analysis to provide an estimate of exposure under a probable scenario, an instantaneous shift in interest rates would have a more significant impact. No EAR breaches occurred during the first nine months of 2025.

Current wording

While a gradual shift in interest rates was used in this analysis to provide an estimate of exposure under a probable scenario, an instantaneous shift in interest rates would have a more significant impact. No EAR breaches occurred during the first three months of 2026.

Previous wording

Since MVE measures the discounted present value of cash flows over the estimated lives of instruments, the change in MVE does not directly correlate to the degree that earnings would be impacted over a shorter time horizon (i.e., the current year). Further, MVE does not take into account factors such as future balance sheet growth, changes in product mix, changes in yield curve relationships, and changes in product spreads that could mitigate the adverse impact of changes in interest rates. The MVE measure in the 200 bp increase in interest rates scenario is outside of the policy limit, which has been reported to the Corporation's Board.

Current wording

Since MVE measures the discounted present value of cash flows over the estimated lives of instruments, the change in MVE does not directly correlate to the degree that earnings would be impacted over a shorter time horizon (i.e., the current year). Further, MVE does not take into account factors such as future balance sheet growth, changes in product mix, changes in yield curve relationships, and changes in product spreads that could mitigate the adverse impact of changes in interest rates.

Previous wording

The Corporation also has obligations under its derivatives, lending-related commitments, and retirement plans as described in Note 9 Derivative and Hedging Activities, Note 11 Commitments, Off-Balance Sheet Arrangements, Legal Proceedings, and Regulatory Matters, and Note 13 Retirement Plans of the notes to consolidated financial statements, respectively. Further discussion of the nature of each obligation is included in the referenced note to the consolidated financial statements.

Current wording

The Corporation also has obligations under its derivatives, lending-related commitments, and retirement plans as described in Note 9 Derivative and Hedging Activities, Note 11 Commitments, Off-Balance Sheet Arrangements, and Legal Proceedings, and Note 13 Retirement Plans of the notes to consolidated financial statements, respectively. Further discussion of the nature of federal funds purchased and securities sold under agreements to repurchase, FHLB advances, and senior and subordinated debt is included in Note 8 Short and Long-Term Funding of the notes to consolidated financial statements.

Previous wording

(a) The Federal Reserve establishes regulatory capital requirements, including well-capitalized standards for the Corporation. The Corporation follows Basel III, subject to certain transition provisions. These regulatory capital measurements are used by management, regulators, investors, and analysts to assess, monitor, and compare the quality and composition of the Corporation's capital with the capital of other financial services companies.

Current wording

(a) The Federal Reserve establishes regulatory capital requirements, including well-capitalized standards, for the Corporation. The regulatory capital requirements effective for the Corporation follow Basel III, subject to certain transition provisions.

Previous wording

(b) The Corporation is not classified as an advanced approaches holding company as defined by the Federal Reserve. As such, the Corporation has elected to be subject to the AOCI-related adjustments when calculating common equity tier 1 capital which allows the Corporation to opt-out of the requirement to include most components of AOCI in common equity tier 1 capital. This reflects that election.

Current wording

(b) The Corporation is not classified as an advanced approaches holding company as defined by the Federal Reserve. As such, the Corporation has elected to be subject to the AOCI-related adjustments when calculating CET1 capital which allows the Corporation to opt-out of the requirement to include most components of AOCI in CET1 capital.

Previous wording

See Part II, Item 2, Unregistered Sales of Equity Securities and Use of Proceeds, for information on the shares repurchased during the third quarter of 2025.

Current wording

See Part II, Item 2, Unregistered Sales of Equity Securities and Use of Proceeds, for information on the shares repurchased during the first quarter of 2026.

Previous wording

(b) Announced initiatives include the loss on mortgage portfolio sale and loss on prepayment of FHLB advances as a result of balance sheet repositionings that the Corporation announced in the fourth quarter of 2024. The net loss on the sale of investments is already excluded from noninterest income within the efficiency ratio.

Current wording

(b) Announced initiatives include the loss on mortgage portfolio sale as a result of balance sheet repositioning that the Corporation announced in the fourth quarter of 2024.

Previous wording

The Corporation reported net income of $124.7 million for the third quarter of 2025, compared to net income of $88.0 million for the third quarter of 2024. Net income available to common equity was $121.9 million for the third quarter of 2025, or $0.73 for both basic and diluted earnings per common share. Comparatively, net income available to common equity for the third quarter of 2024 was $85.1 million, or $0.56 for both basic and diluted earnings per common share.

Current wording

The Corporation reported net income of $119.6 million for the first quarter of 2026, compared to a net income of $137.1 million for the fourth quarter of 2025. Net income available to common equity was $116.8 million for the first quarter of 2026, or $0.70 for both basic and diluted earnings per common share. Comparatively, the net income available to common equity for the fourth quarter of 2025 was $134.3 million, or $0.81 and $0.80 for basic and diluted earnings per common share, respectively.

Previous wording

Average earning assets increased $487.6 million, or 1%, to $40.6 billion in the third quarter of 2025, primarily due to an increase in commercial and business lending given our strategic focus in that segment and taxable securities from continued investment for liquidity needs as the balance sheet continues to grow. Average loans increased $258.5 million, or 1%, due to an increase in commercial and business lending and auto finance loans, partially offset by a decrease in commercial real estate lending. On the funding side, average total interest-bearing deposits increased $354.9 million, or 1%, driven by an increase in savings, interest-bearing demands, and other time deposits, offset by decreases in brokered CDs and money market deposits.

Current wording

Average earning assets increased $477.7 million, or 1%, to $41.3 billion in the first quarter of 2026, primarily due to an increase in commercial lending given our strategic focus in that segment and taxable securities and other short-term investments from continued investment for liquidity needs as the balance sheet continues to grow. Average loans increased $286.1 million, or 1%, due to an increase in commercial lending and auto finance loans, partially offset by a decrease in residential mortgage lending. On the funding side, average total interest-bearing deposits decreased $402.8 million, or 1%, primarily driven by an decrease in non-core customer deposits including brokered CDs and network transaction deposits; partially offset by growth in money market and other time deposits.

Previous wording

The provision for credit losses was $16.0 million for the third quarter of 2025 and $18.0 million for the second quarter of 2025. This was due to nominal credit movement and general macroeconomic trends. See discussion under sections: Provision for Credit Losses, Nonperforming Assets, and Allowance for Credit Losses on Loans.

Current wording

The provision for credit losses was $11.0 million for the first quarter of 2026 and $7.0 million for the fourth quarter of 2025. This was due to nominal credit movement and general macroeconomic trends. See discussion under sections: Provision for Credit Losses, Nonperforming Assets, and Allowance for Credit Losses on Loans.

Previous wording

Noninterest income for the third quarter of 2025 was $81.3 million, up $14.3 million, or 21% from the second quarter of 2025. The increase was due to increases in net capital market income through elevated activity in our capital markets syndications and swaps businesses and net asset gains from deferred compensation valuation adjustments.

Current wording

Noninterest income for the first quarter of 2026 was $75.9 million, down $3.5 million, or 4% from the fourth quarter of 2025. The decrease was due to decreases in net capital market income and card-based fees, and is partially offset by increases in net mortgage banking activity.

Previous wording

For the third quarter of 2025, the Corporation recognized income tax expense of $29.6 million, compared to an income tax expense of $28.4 million for the second quarter of 2025. The increase was driven by increased net income in the current quarter.

Current wording

For the first quarter of 2026, the Corporation recognized income tax expense of $33.2 million, compared to an income tax expense of $25.8 million for the fourth quarter of 2025. The lower expense in the fourth quarter of 2025 was primarily attributable to the Corporation's reduction of its valuation allowance.

Previous wording

•Average earning assets and average loans both increased $1.3 billion from the nine months ended September 30, 2024, primarily driven by growth in commercial and business lending.

Current wording

•Average earning assets and average loans both increased $1.2 billion from the three months ended March 31, 2025, primarily driven by growth in commercial and business lending.

Previous wording

•Average deposits increased $1.1 billion from the nine months ended September 30, 2024, primarily driven by increases in all deposit types except for noninterest-bearing demand deposits.

Current wording

•Average deposits increased $889.1 million from the three months ended March 31, 2025, mainly driven by increases in all deposit types except for noninterest-bearing demand and money market deposits.

Previous wording

•Average loans decreased $73.6 million from the nine months ended September 30, 2024, attributable to lower balances in all loan categories.

Current wording

•Average loans decreased $50.5 million from the three months ended March 31, 2025, attributable to lower balances in all loan categories except for residential loans held for sale.