Trøndelag Sparebank (TRSB) investor relations material

Executive summary

• Entered into a merger agreement with Ørland Sparebank to strengthen regional position and competitiveness, with operational integration expected in Q2 2027.

• Significant investments in compliance and risk management to meet future regulatory demands and position as an attractive merger partner.

• Q1 2026 results impacted by one-time costs, lower net interest income, and increased loan loss provisions.

• Lending portfolio grew 7.7% year-over-year, totaling NOK 10.0 billion.

• Strategic focus on building a larger, more competitive local bank.

Financial highlights

• Net interest income for Q1 2026 was NOK 49.8 million, down from NOK 51.4 million in Q1 2025, with a net interest margin of 1.98%.

• Result after tax was NOK 0.8 million, a sharp decline from NOK 17.3 million in Q1 2025.

• Operating costs rose to NOK 48.4 million from NOK 41.2 million year-over-year.

• One-time costs related to governance improvements and merger totaled NOK 4.4 million in the quarter.

• Brutto commission and subsidiary income reached NOK 35.3 million in Q1 2026.

Outlook and guidance

• Continued investments in compliance and risk routines expected through Q2 2026.

• Anticipated cost savings from Tietoevry agreement, reducing costs by NOK 2.5 million in H2 2026.

• Merger with Ørland Sparebank expected to enhance competitiveness and brand strength, with completion planned for autumn 2026.

• Net interest margins expected to remain under pressure due to competition and lower rates.