US Research at a Glance - July 1, 2026

Research evidence excerpt

US Research at a Glance - July 1, 2026

U.S. RESEARCH AT A GLANCE

should be strong again in 2Q26. On credit quality, it should remain resilient, but

we think investors will focus their attention on loans to Non-depository Financial

Institutions and any idiosyncratic flare-ups in C&I credit trends.

Jon G. Arfstrom (Analyst) 2Q26 Regional Bank Earnings Preview

(646) 703-3565; jon.arfstrom@rbccm.com Published July 1 2026 00:15:00 EDT

Karl Shepard, CFA (Analyst)

(612) 371-2709; karl.shepard@rbccm.com Positive outlook on strong loan growth, margin stability, clean credit.

Taylor Irwin, CFA (Associate) Our view: We are previewing 2Q earnings for our regional bank coverage. We are(612) 766-9613; taylor.irwin@rbccm.com

also fine-tuning estimates and price targets to reflect intra-quarterly commentary.

We see the outlook as stable from 1Q earnings, and while some macro uncertainty

remains and the rate outlook has shifted, we view the business environment as

favorable, and we are optimistic on the medium-term outlook. For 2Q, we expect

typical seasonal tailwinds, and we remain constructive on the core fundamentals

heading into the quarter. We expect healthy loan and revenue growth to drive

solid earnings growth and returns. We expect earnings calls to focus on lending

demand and pipelines, margin outlooks, deposit pricing trends, regulatory themes,

and capital priorities. At the mid-point of the year, we also expect companies to

fine-tune their full year 2026 guidance.

Arun Viswanathan, CFA (Analyst) Q2 Commodity Chemicals Preview

(212) 301-1611; arun.viswanathan@rbccm.com Published June 30 2026 19:23:07 EDT

Adam Hamilton (Associate)

(212) 266-4099; adam.hamilton@rbccm.com Our view: Overall, while sector valuations have softened somewhat in recent

Brian Dong (Associate)