LEGEND BANK RECEIVES FEDERAL RESERVE APPROVAL FOR ACQUISITION OF GRAHAM SAVINGS AND LOAN

Federal Reserve approval, combined with Graham's regulatory and shareholder approvals,

marks a major milestone in the partnership.

BOWIE, Texas – Legend Bancorp, Inc., the holding company for Legend Bank, N.A., announced today that the Federal Reserve Bank of Dallas approved Legend Bank's application to acquire Graham Savings and Loan. Together with approval from the Texas Department of Savings and Mortgage Lending, Graham Savings and Loan's primary regulator, the required regulatory approvals for the merger have now been received, marking a significant milestone in bringing together two Texas community banks built on shared values, relationship banking, and a commitment to serving local communities.

The transaction previously received unanimous approval from the Boards of Directors of both institutions, followed by Graham Savings and Loan shareholder approval at a Special Shareholders' Meeting held on August 6, 2026, with 99.21% of votes cast in favor of the merger.

"The approvals received from shareholders and regulators represent an important milestone for both organizations," said Jay Bearden, President & CEO of Legend Bank. "We are grateful for the confidence shown throughout this process and for the strong support of both organizations' Boards of Directors, employees, customers, shareholders, and communities. From the beginning, it was clear that Graham Savings and Loan and Legend Bank share the same commitment to community banking, local decision-making, and relationship-based service. We look forward to welcoming the Graham Savings and Loan team and customers into the Legend Bank family and building on the strong foundation our organizations have established over generations."

Codie Hedge, President & CEO and Senior Lender of Graham Savings and Loan, said the milestone reflects the shared values that brought the two organizations together. "This milestone represents far more than shareholder and regulatory approval; it reflects confidence in the future of our bank. We are grateful for the support we have received throughout this process and excited about the opportunities this partnership creates for our customers, employees, and communities. Legend Bank is the right partner for Graham Savings and Loan because we share the same values, commitment to community banking, and belief that relationships come first. Together, we look forward to building on our legacy while expanding the resources available to serve our communities."

With the required approvals now in place, the partnership moves into its next chapter as both organizations prepare for an anticipated October 1, 2026 closing, with full systems conversion anticipated in late April 2027.

What Customers Can Expect

For customers, nothing is changing today.

Graham Savings and Loan customers should continue banking as they always have. Accounts, debit cards, online banking, branch locations, and the local Graham Savings and Loan team remain the same. Any future changes will be communicated well in advance.

Legend Bank customers will also continue banking at their current branch locations throughout the transition period. Once the acquisition and full systems conversion are complete, Legend Bank customers will gain access to three additional branch locations through Graham Savings and Loan, providing expanded access and added convenience across the communities we serve.

Both organizations remain committed to making the transition as seamless as possible while continuing the personal service, community focus, and local decision-making customers have trusted for generations.

About Legend Bank

Legend Bank is a Texas-based community bank founded in 1890, headquartered in Bowie, focused on enriching the lives of its stakeholders by providing Legendary financial services and resources. Legend Bank has 13 full-service branch locations and two loan offices throughout North Texas with total assets of over $1.2 billion. Legend Bank serves the people and businesses in and around Bowie, Alvord, Decatur, North Richland Hills, Fort Worth, Weatherford, Henrietta, Wichita Falls, Nocona, Whitesboro, Sherman, Bonham, Cooper, Paris and Whitewright.

About Graham Savings and Loan

Founded in 1934, Graham Savings and Loan has served generations of families, businesses, and communities across Graham, Breckenridge, and Possum Kingdom with a commitment to relationship-focused community banking. Locally owned for more than 90 years, the bank has built its reputation on trusted service, local decision making, and strong community involvement. Guided by values of integrity, personal service, and community commitment, Graham Savings and Loan remains dedicated to helping customers, employees, and local communities grow and succeed.

Hunton Andrews Kurth LLP serves as legal counsel to Legend Bank and The Bank Advisory Group served as financial advisor. Bradley Arant Boult Cummings LLP serves as legal counsel to Graham Savings and Loan and Hillworth Securities, LLC serves as financial advisor.

Cautionary Note Regarding Forward Looking Statements

This press release contains forward looking statements, including but not limited to statements regarding the proposed transaction, the business of Legend Bank and other matters. Any statements about our expectations, beliefs, plans, predictions, protections, forecasts, objectives, assumptions, or future events or performance are not historical facts and may be forward looking statements. Forward looking statements are typically, but not exclusively, identified by the use of forward looking terminology such as "believes," "expects," "could," "may," "will," "should," "seeks," "likely," "intends," "plans," "pro forma," "projects," "estimates," or "anticipates," or the negative of these words and phrases or similar words or phrases that are predictions of or indicate future events or trends and that do not relate solely to historical matters.

Forward looking statements are subject to risks and uncertainties and are not guarantees of future performance, and actual results may differ materially from those expressed or contemplated by the particular forward looking statement. Therefore, you are cautioned not to place undue reliance on such statements. Further, any forward looking statement speaks only as of the date on which it is made, and neither Legend Bank nor Graham Savings and Loan undertakes any obligation to update any forward looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events or circumstances, except as required by applicable law.

FDIC-Insured. Equal Housing Lender. All loans subject to credit approval.

Distributed by Newsbank, inc.