Red Flags Detected

• ⚠ Non-performing Loans Increased $14.7 Million From December 31, 2025 to $51.2 Million At June 30, 2026, Primarily Due to One Multi-family Relationship and One Commercial Real Estate Relationship. (new) — A 40.3% jump in non-performing loans signals credit deterioration in Lincoln's loan portfolio, concentrated in two relationships.
• ⚠ The Aggregate Merger Consideration That Lincoln Shareholders Would Be Entitled to Receive In the Merger Will Be Reduced If Any of the Following Conditions Exist As of the Calculation Date: (i) Lincoln’s Adjusted Shareholders’ Equity... Is Less Than $115,552,000... (ii) Lincoln’s Actual Merger Costs Exceed $15,200,000... or (iii) Certain Identified Credit Costs... Are Greater Than $0. (new) — The merger consideration is not fixed and can be reduced based on Lincoln's financial condition, creating uncertainty for Lincoln shareholders.
• ⚠ The Merger Agreement Does Provide Lincoln With a Right to Terminate the Merger Agreement If the Volume-weighted Average Price of Equity Common Stock Falls Below 80% of $48.49 and Also Underperforms the Nasdaq Bank Index By More Than 20% (new) — Lincoln has a termination right tied to Equity's stock price performance, which could derail the merger if Equity's shares decline significantly.