WINTRUST FINANCIAL $WTFC Q3’26 EARNINGS HIGHLIGHTS 🔹 Revenue: $757.9M (Est. $754M) 🟢; +9% YoY 🔹 EPS: $3.37 (Est. $3.30) 🟢; +21% YoY 🔹 Net Interest Income: $621.6M; +10% YoY 🔹 Net Income: $239.1M; +11% YoY Other Q3 Metrics: 🔹 Pre-Provision Income: $352.2M (Est. $348M) 🟢 🔹 Income Before Taxes: $326.3M (Est. $320M) 🟢 🔹 Net Interest Margin: 3.49%; +1 bps YoY 🔹 Total Loans: $56.8B; +9% YoY 🔹 Total Deposits: $62.4B; +10% YoY 🔹 Provision for Credit Losses: $25.9M 🔹 Net Charge-offs: $21.0M 🔹 Non-Performing Loans: $176.9M 🔹 CET1 Ratio: 10.5% 🔹 Return on Avg. Common Equity: 12.83% 🔹 Book Value/Share: $101.74 (Est. $107.99) 🔴 🔹 Tangible Book Value/Share: $88.18 Capital Return: 🔹 Dividend: $0.55/share Key Updates: 🔹 Net losses on investment securities: approximately $1.6 million, primarily the result of fair value adjustments on the Company’s equity investment securities with a readily determinable fair value 🔹 Net charge-offs: $21.0 million, or 15 basis points of average total loans on an annualized basis 🔹 Non-performing loans: $176.9 million and comprised 0.31% of total loans at September 30, 2026 🔹 Mortgage banking revenue: $25.5 million 🔹 Wealth management revenue: $41.0 million Comments: 🔸 “which should generate positive operating leverage for the year”

STEEL DYNAMICS $STLD Q3’26 EARNINGS HIGHLIGHTS 🔹 Revenue: $6.51B (Est. $6.43B) 🟢 🔹 EPS: $5.26 (Est. $5.41) 🔴; +92% YoY 🔹 Operating Income: $1.01B (Est. $1.06B) 🔴 🔹 Net Income: $756M (Est. $790M) 🔴; +87% YoY 🔹 Adj. EBITDA: $1.19B (Est. $1.24B) 🔴 Cash Flow: 🔹 Operating Cash Flow: $845.8M 🔹 Capital Investments: $150M 🔹 Share Repurchases: $276M 🔹 Cash Dividends: $76M Segment Operating Income: 🔹 Steel: $1.03B 🔹 Steel Fabrication: $90.6M 🔹 Metals Recycling: $33.0M 🔹 Aluminum: -$26.2M Other Q3 Metrics: 🔹 Steel Shipments: 3.8M tons (record) 🔹 Avg Steel Price: $1,400/ton 🔹 Avg Scrap Cost: $404/ton 🔹 Aluminum FRP Shipments: 55,000 metric tons Key Updates: 🔹 Customer order activity has continued to strengthen since the end of 2025, with the order backlog now 50 percent higher than a year ago and extending into the second quarter 2027. 🔹 All three cold mills are now operational which provides us the ability to achieve our annual volume expectations, and the first of two Continuous Annealing and Solution Heat (CASH) lines is operating and is expected to ship finished automotive products before the end of the year. 🔹 Liquidity of $2.4B as of September 30, 2026 Comments: 🔸 “We remain firmly committed to the health and safety of our teams, their families, and the communities we serve, while meeting the evolving needs of our customers.”

WESTERN ALLIANCE $WAL Q3’26 EARNINGS HIGHLIGHTS 🔹 Revenue: $1.01B (Est. $991M) 🟢; +8.1% YoY 🔹 EPS: $2.45 (Est. $2.45) 🟡; +7.5% YoY 🔹 Net Interest Income: $807.6M; +7.6% YoY 🔹 Non-Interest Income: $206.6M; +10.0% YoY 🔹 PPNR: $419.1M (Est. $401M) 🟢 🔹 Net Income: $277.2M; +6.4% YoY Other Q3 Metrics: 🔹 Net Interest Margin: 3.57% 🔹 Pre-Tax Income: $339.1M (Est. $343M) 🔴 🔹 Efficiency Ratio: 58.1% 🔹 Provision for Credit Losses: $80.0M 🔹 Net Loan Charge-offs: $45.8M 🔹 HFI Loans: $61.5B; +8.7% YoY 🔹 Total Deposits: $81.8B; +5.8% YoY 🔹 CET1 Ratio: 10.9% 🔹 Return on Average Tangible Common Equity: 15.5% 🔹 Book Value/Share: $68.14 (Est. $70.97) 🔴 🔹 Tangible Book Value/Share: $62.22; +6.3% YoY Capital Return: 🔹 Dividend: $0.42/share 🔹 Share Repurchases: $92.1M (1.15M shares) Key Updates: 🔸 Gain on sales of investment securities: $16.8M 🔸 Deposit optimization actions totaling $4.5B over the past two quarters drove a $14M quarterly decline in ECR-related deposit costs 🔸 Nonaccrual loans declined $77M to $485M Comments: 🔸 “Deposit optimization actions totaling $4.5 billion over the past two quarters drove a $14 million, or 8%, quarterly decline in ECR-related deposit costs.”

W. R. BERKLEY $WRB Q3’26 EARNINGS HIGHLIGHTS 🔹 Revenue: $3.74B (Est. $3.83B) 🔴 🔹 Adj. EPS: $1.17 (Est. $1.15) 🟢; +6% YoY 🔹 Operating Income: $456.5M (Est. $444M) 🟢 🔹 Gross Premiums Written: $3.95B; vs $3.84B LY 🔹 Net Premiums Written: $3.27B; vs $3.23B LY 🔹 Combined Ratio: 90.8%; vs 90.9% LY Segment Gross Premiums Written: 🔹 Insurance: $3.56B 🔹 Reinsurance & Monoline Excess: $391.5M Other Q3 Metrics: 🔹 Net Investment Income: $383.5M 🔹 Pre-Tax Underwriting Income: $237.7M; +11% YoY 🔹 Accident Year Combined Ratio ex-Cat: 88.1% 🔹 Catastrophe Losses: 2.7 loss ratio points 🔹 Operating Return on Equity: 18.8% 🔹 Return on Equity: 18.4% 🔹 Net Income: $446.0M 🔹 GAAP EPS: $1.14 Capital Return: 🔹 Buybacks: $21.1M Key Updates: 🔹 Operating income excludes after-tax net investment gains (losses) and after-tax net foreign currency gains (losses) 🔹 Average rate increases excluding workers' compensation: ~4.0% 🔹 Insurance segment premiums written: gross +4.9%, net +3.2%

ZIONS BANCORPORATION $ZION Q3’26 EARNINGS HIGHLIGHTS 🔹 Net Interest Income: $684M; +2% YoY 🔹 Noninterest Income: $197M; +4% YoY 🔹 EPS: $1.78 (Est. $1.67) 🟢; incl. notable items 🔹 Net Earnings: $262M (Est. $241M) 🟢 Other Q3 Metrics: 🔹 Net Interest Margin: 3.23%; -5 bps YoY 🔹 Customer-Related Income: $192M; +18% YoY 🔹 Noninterest Expense: $553M; +5% YoY 🔹 PPNR: $340M; -1% YoY 🔹 Adj. PPNR: $338M 🔹 Efficiency Ratio: 61.9% 🔹 Provision for Credit Losses: -$8M 🔹 Net Charge-off Ratio: 0.02% 🔹 Loans and Leases: $62.5B; +4% YoY 🔹 Total Deposits: $77.9B; +4% YoY 🔹 CET1 Ratio: 11.8% 🔹 Income Before Taxes: $336M (Est. $316M) 🟢 🔹 Book Value/Share: $52.56 (Est. $53.77) 🔴 🔹 Tangible Book Value/Share: $43.50; +13% YoY Capital Return: 🔹 Share Repurchases: $75M (1.1M shares) 🔹 Dividend: $0.48/share Key Updates: 🔸 Net credit valuation adjustment (“CVA”) gain on client-related interest rate swaps: $10M, or $0.05 per share 🔸 Acquisition of Basis Multifamily Finance agency lending platform completed in July 2026 Comments: 🔸 “Short- and medium-term interest rates began to rise in the last month of the quarter, and we expect that our moderately asset-sensitive balance sheet should produce stronger net interest income in a higher rate environment, while we're seeing continued improvement in noninterest income that we expect will continue into next year.”

BOK FINANCIAL $BOKF Q3’26 EARNINGS HIGHLIGHTS 🔹 Net Interest Income: $370.0M 🔹 Fees and Commissions: $188.0M 🔹 EPS: $2.64 (Est. $2.53) 🟢; +19% YoY 🔹 Adj. EPS: $2.64 🔹 Net Income: $159.9M (Est. $152M) 🟢 Other Q3 Metrics: 🔹 Net Interest Margin: 3.00%; +9 bps YoY 🔹 Income Before Taxes: $200.8M (Est. $195M) 🟢 🔹 Return on Avg. Equity: 10.43% (Est. 9.9%) 🟢 🔹 Book Value/Share: $97.34 (Est. $102.01) 🔴 🔹 Efficiency Ratio: 63.52% 🔹 Period-End Loans: $27.7B 🔹 Period-End Deposits: $39.5B 🔹 CET1 Ratio: 12.73% Key Updates: 🔹 Net charge-offs: $886 thousand, or 0.01% of average loans on an annualized basis 🔹 Assets under management or administration: $129.3 billion 🔹 No provision for expected credit losses was necessary for the third quarter of 2026. 🔹 No shares of common stock were repurchased during the third quarter of 2026. Comments: 🔸 “Higher rates created headwinds for mortgage banking and fixed-income trading this quarter, but we view those businesses through the cycle, where they provide an important source of diversification to our overall earnings profile.”

CROWN HOLDINGS $CCK Q3’26 EARNINGS HIGHLIGHTS 🔹 Revenue: $3.71B (Est. $3.44B) 🟢; +16% YoY 🔹 Adj. EPS: $2.39 (Est. $2.26) 🟢; +7% YoY 🔹 Segment Income: $484M; -1% YoY 🔹 Global Beverage Can Volumes: +6% YoY FY26 Guide: 🔹 Adj. EPS: $8.35-$8.45 (Est. $8.41) 🟡 🔹 Adj. Free Cash Flow: At least $950M 🔹 Capital Spending: ~$550M Q4 Guide: 🔹 Adj. EPS: $1.63-$1.73 (Est. $1.80) 🔴 Segment Net Sales: 🔹 Americas Beverage: $1.70B 🔹 European Beverage: $772M 🔹 Asia Pacific: $321M 🔹 Transit Packaging: $520M 🔹 Other: $398M Segment Income: 🔹 Americas Beverage: $259M 🔹 European Beverage: $109M 🔹 Asia Pacific: $46M 🔹 Transit Packaging: $60M 🔹 Other: $51M Other Q3 Metrics: 🔹 GAAP EPS: $2.08; +12% YoY 🔹 GAAP Net Income: $225M; +5% YoY 🔹 Adj. Free Cash Flow: $299M 🔹 Net Leverage Ratio: 2.5x Key Updates: 🔹 Intangibles amortization: $34M ($0.31/share) 🔹 Restructuring and other: $8M ($0.07/share) 🔹 Income taxes: -$8M (-$0.07/share) 🔹 Pass-through of higher material costs: $405M 🔹 Share repurchases: $81M during the quarter 🔹 Uttar Pradesh plant groundbreaking commenced in September; commercial start-up expected in Q1 2028 Comments: 🔸 “Global beverage can shipments advanced by more than 6% in the quarter, driven by double-digit gains in Asia, a 6% increase in North America and 4% growth across Europe.”

$AGNC INVESTMENT Q3’26 EARNINGS HIGHLIGHTS 🔹 Adj. EPS: $0.37 (Est. $0.37) 🟡 🔹 Tangible Book Value/Share: $7.13; -16.9% QoQ 🔹 Economic Return: -12.7% 🔹 Dividends Declared: $0.36/share Other Q3 Metrics: 🔹 GAAP EPS: -$1.17 🔹 Comprehensive Income/Share: -$1.28 🔹 Net Spread & Dollar Roll Income: $444M 🔹 Investment Portfolio: $94.4B 🔹 At-Risk Leverage: 7.9x 🔹 Net Interest Spread: 1.86% 🔹 Unencumbered Cash & Agency MBS: $6.3B Key Updates: 🔹 Net loss in other gain (loss), net: -$1.7B, or -$1.44/share 🔹 ATM Offerings: 97.6M shares, net proceeds of $992M Comments: 🔸 “Fixed income markets experienced significant pressure in the third quarter, particularly in the final weeks of September, as fixed income investor sentiment turned decidedly bearish, interest rates increased sharply, and interest rate volatility spiked.”

Skyfall AI is introducing SKY-001, an engineering world model that it says is 100x faster and 150x cheaper than GPT Astra in its CAD and building-design tests. It starts with a text prompt or 2D sketch, breaks the object into smaller parts, designs those components and assembles them into a structured 3D model for CAD software such as Autodesk Fusion. That means working through the individual parts and how they fit together, down to details like screws. This is a research preview focused on design. Skyfall’s longer-term goal is to extend that process into manufacturing. @skyfallai @spisallyouneed

Wabi is launching an AI messenger where you can add AI agents to a group chat and build apps together. Say a few friends are working on a side project. They could ask an agent to help plan the work and create a simple app for tasks, deadlines and costs. They can keep discussing ideas in the chat, with a shared place to check who’s doing what, what’s been decided and what still needs finishing.

FIFTH THIRD $FITB Q3’26 EARNINGS HIGHLIGHTS 🔹 Revenue: $3.28B (Est. $3.34B) 🔴; +42% YoY 🔹 GAAP EPS: $0.90; -1% YoY 🔹 Adj. EPS: $1.13 🔹 Net Interest Income: $2.27B; +49% YoY 🔹 Noninterest Income: $1.01B; +29% YoY Other Q3 Metrics: 🔹 Net Interest Margin: 3.34%; +21 bps YoY 🔹 Efficiency Ratio: 62.4% 🔹 Adj. Efficiency Ratio: 54.6% 🔹 Avg Portfolio Loans: $179.2B; +45% YoY 🔹 Avg Deposits: $238.3B; +45% YoY 🔹 Provision for Credit Losses: $122M; -38% YoY 🔹 Net Charge-off Ratio: 0.31%; -78 bps YoY 🔹 CET1 Ratio: 10.02% 🔹 Net Income: $866M; +33% YoY 🔹 Book Value/Share: $34.31 (Est. $36.13) 🔴 🔹 Tangible Book Value/Share: $22.01 Capital Return: 🔹 Dividend: $0.42/share Key Updates: 🔹 Adj. EPS excludes $0.23 of certain items 🔹 Merger-related charges: $225M pre-tax 🔹 Interchange litigation matters: $34M pre-tax 🔹 Technology-related asset impairments: $19M pre-tax 🔹 Other securities losses/(gains), net: $5M pre-tax 🔹 Non-qualified deferred compensation expense/(benefit): $(6)M pre-tax 🔹 YoY growth primarily reflects the addition of Comerica

CLEVELAND-CLIFFS $CLF Q3’26 EARNINGS HIGHLIGHTS 🔹 Revenue: $5.61B (Est. $5.72B) 🔴; vs $4.73B LY 🔹 EPS: $0.26 (Est. $0.19) 🟢; vs -$0.51 LY 🔹 Adj. EPS: $0.28; vs -$0.45 LY 🔹 Adj. EBITDA: $612M (Est. $594M) 🟢; vs $143M LY FY27 Guide: 🔹 Adj. EBITDA: Exceed $4B Q4 Guide: 🔹 Adj. EBITDA: ~$715M (Est. $665M) 🟢 Steelmaking Segment: 🔹 Steel Shipments: 4.2M net tons 🔹 Avg. Selling Price: $1,177/ton; vs $1,032 LY 🔹 Steelmaking Revenues: $5.45B; vs $4.56B LY 🔹 Gross Margin: $454M Steelmaking Revenue Mix: 🔹 34% Distributors & Converters, $1.8B 🔹 28% Direct Automotive, $1.5B 🔹 28% Infrastructure & Manufacturing, $1.5B 🔹 10% Steel Producers, $532M Other Q3 Metrics: 🔹 Operating Cash Flow: $224M 🔹 Liquidity: $3.2B Key Updates: 🔹 Currency exchange: $4M loss 🔹 GAAP net income: $165M; adjusted net income $161M 🔹 Stelco galvanizing lines indefinitely idled; approximately 2,000 Canadian jobs preserved Comments: 🔸 “Third quarter was our strongest quarter in three years, with adjusted EBITDA of $612 million, a number above the $575 million guidance we provided three months ago.” 🔸 “Based on the new contracts we have already signed with our clients and prevailing index price forecasts, we would expect our 2027 adjusted EBITDA to exceed $4 billion.”

Today's Key Events (All EST) — 10/19/2026 10:00: US NAHB Housing Market Index Before Open 👇 06:00: Cleveland-Cliffs (CLF) 06:30: Fifth Third Bancorp (FITB) 07:00: SmartFinancial (SMBK) 09:30: VinFast Auto (VFS) After Hours 👇 16:00: AGNC Investment (AGNC) 16:00: ServisFirst Bancshares (SFBS) 16:05: BOK Financial (BOKF) 16:05: Washington Trust Bancorp (WASH) 16:10: Crown Holdings (CCK) 16:10: RBB Bancorp (RBB) 16:10: W. R. Berkley (WRB) 16:10: RLI (RLI) 16:10: Zions Bancorporation, N.A. (ZION) 16:15: Wintrust Financial (WTFC) 16:20: Western Alliance Bancorporation (WAL) 16:25: Karooooo (KARO) 16:30: Steel Dynamics (STLD) 16:30: Home Bancorp (HBCP) 16:30: F.N.B. (FNB)

ANTHROPIC COMMITS 5% OF ITS SHARES TO PUBLIC BENEFIT FUND, WITH ADDITIONAL PLEDGES TIED TO VALUATION GROWTH Anthropic announced the creation of the Anthropic Public Benefit Fund, designed to support charitable initiatives and address the broader societal impact of AI, including its effects on jobs. The initial equity contribution is subject to stockholder approval. The board may also allocate an additional 2% of shares for every 50% increase in the company’s valuation above an undisclosed baseline. Anthropic says its total public-benefit commitments now represent roughly 20% of company equity when combined with its founders’ existing pledge to donate 80% of their personal stakes and its employee donation-matching program. The company has already committed $200M toward studying and addressing AI’s impact on employment. The fund will operate as a wholly owned LLC, with its shares prohibited from being used for lobbying or political contributions.

I’ll be attending @NVIDIAGTC in Berlin for the first time. Should be a great event I’ll cover the event, including new announcements from $NVDA & its partners, along with NVIDIA CEO Jensen Huang’s keynote on Oct. 21. If you’re planning to attend too: nvda.ws/4xj95HD

Jensen Huang on Nvidia's offering growing from roughly $18B to more than $40B per gigawatt: “We used to be a GPU company … $NVDA became the largest & fastest growing networking company” “We’re now going to be one of the largest CPU companies, surely the fastest growing one” “We’re also growing share because we offer more to the world’s capex”

$NVDA CEO Jensen Huang says classical computing, including fraud detection and recommendation systems, accounts for roughly a third of NVIDIA’s business and is growing 30 to 40% a year.

NO!!!!!

Bill pay is now live on Whop. Pay anyone in the world, from your balance directly to their bank account.

Elorian AI is introducing Glimpse, a model that answers questions about images and video, including how objects move and what changes from one moment to the next. You give it footage and ask what you want to understand. It is designed to count specific objects, work through spatial relationships and follow sequences of events. That could help with jobs such as labeling robotics footage or reviewing construction progress. @ElorianAI has opened early access, with a waitlist for new users.