Inactive · established relationshipLatest completed snapshot · Sep 9 · 16:27 ET

MARKET-DISCOVERED GROUP

Banks and Insurers

THE TRADER READRecurring relationship, inactive in the latest snapshot

Price direction is split across 8 measured members. Capital-flow agreement is 25%, so the basket is not yet clean.

Price breadth1 up · 7 downRelative median unavailable

Capital-flow alignment25%Price breadth is not yet confirmed by flow

Activity nowCalmActivity score 14/100 · lift 0.8×

Evidence depth5 support daysLow sample—context, not a validated playbook

EVIDENCE CLOCK

What happened, in timestamp order

0 timed events

TIMING READA causal timing read is unavailable because no material member price onset could be timestamped.

No session event has enough timestamp precision to place on the clock.

2 earlier filing context receipts

MON, MAY 4BANR filing documented shared operating contextcredit / rates affecting interest expense · date precision only

WED, AUG 19AX filing documented shared operating contextcredit / rates affecting interest expense · date precision only

01 · WHAT IS HAPPENING

The move, the flow and who is driving it

Price breadth, unusual activity and signed capital flow are separate observations

Price sequence unavailableA timestamped price sequence is unavailable.

RELATIVE CO-MOVEMENT

How the members are behaving together

Session-normalized

Observed intraday paths are not available for this group yet.

02 · WHY IT MATTERS

Why now and where the move could travel

Context and lead/lag links are evidence, not proof of causation or a forecast

WHY NOW

Verified recent context

0 items

No verified recent catalyst is attached to this move. The relationship may be market-led rather than news-led.

WHY THIS GROUP EXISTS

Shared filing context

5/8 members covered

Moderate filing support: the strongest shared 10-Q/K relation is credit / rates affecting interest expense on interest expense across AX, BANR, EFSC, HG, HMN.

credit / rates affecting interest expense

“These increases were partially offset by an increase in interest expense on secured financings, attributable to the Verdant acquisition, and an increase in interest expense on advances from the FHLB.”
AX 10-K · 2026-08-20

credit / rates

“The FHLB advances and the FRBSF discount window are subject to regulation and other factors beyond our control, including changes to FHLB’s underwriting guidelines for wholesale borrowings or lending policies.”
AX 10-K · 2026-08-20

demand / volume

“A substantial reduction in mortgage purchasing activity by the GSEs could result in a material decrease in the availability of residential mortgage loans and the number of qualified borrowers, which in turn may lead to increased volatility in the residential housing market, including a decrease in demand for residential housing and a corresponding drop in the value of real property that secures current residential mortgage loans, as well as a significant increase in interest rates.”
AX 10-K · 2026-08-20

CONFIRMATION NETWORK

Outsiders and cross-asset links

0 outsiders confirming

No qualified cross-asset lead/lag link is available for this group.

Filing-linked outsiders test whether the move is spreading beyond the established cohort.

UCBNot confirming

EFSC · text peer

NBTBNot confirming

EFSC · text peer

TRINNot confirming

EFSC · text peer

AXSNot confirming

HG · text peer

03 · WHO IS IN IT

Member participation

Unusual activity and daily price direction are shown separately

OZKTOWNAXNTBHMNHGEFSCBANR

4/8 active1 rising · 7 falling

MemberUnusual activityToday's moveRead now

OZKBank OZK

Most unusual · 100/100

-1.2%

Flow confirmerActive in 0% of observed group sessions

TOWNTowneBank

Elevated · 100/100

-0.5%

Active; unclassifiedActive in 0% of observed group sessions

AXAxos Financial, Inc.

Elevated · 67/100

-3.4%

Flow confirmerActive in 0% of observed group sessions

NTBThe Bank of N.T. Butterfield & Son Limited

Elevated · 50/100

-2.6%

Flow confirmerActive in 0% of observed group sessions

HMNHorace Mann Educators Corporation

Quiet · 0/100

-1.9%

Watch / laggardActive in 0% of observed group sessions

HGHamilton Insurance Group, Ltd.

Quiet · 0/100

-1.5%

Watch / laggardActive in 0% of observed group sessions

EFSCEnterprise Financial Services Corp

Quiet · 0/100

-1.2%

Watch / laggardActive in 0% of observed group sessions

BANRBanner Corporation

Quiet · 0/100

+0.8%

Watch / laggardActive in 0% of observed group sessions

View exact member values

TICKER	Company	Role now	Today	Observed history	Trader interpretation
OZK	Bank OZK	Most unusual	-1.2%	0% of 0 sessions	Most unusual activity in this snapshot; performance direction may differ.
TOWN	TowneBank	Participating	-0.5%	0% of 0 sessions	Price participation is not yet confirmed by per-name flow.
AX	Axos Financial, Inc.	Participating	-3.4%	0% of 0 sessions	Price participation with accumulating signed flow.
NTB	The Bank of N.T. Butterfield & Son Limited	Participating	-2.6%	0% of 0 sessions	Price participation with accumulating signed flow.
HMN	Horace Mann Educators Corporation	Quiet / lagging	-1.9%	0% of 0 sessions	Not participating yet; a breadth test or a genuine divergence.
HG	Hamilton Insurance Group, Ltd.	Quiet / lagging	-1.5%	0% of 0 sessions	Not participating yet; a breadth test or a genuine divergence.
EFSC	Enterprise Financial Services Corp	Quiet / lagging	-1.2%	0% of 0 sessions	Not participating yet; a breadth test or a genuine divergence.
BANR	Banner Corporation	Quiet / lagging	+0.8%	0% of 0 sessions	Not participating yet; a breadth test or a genuine divergence.

04 · HAS THIS HAPPENED BEFORE

Identity history versus measured outcomes

Structural recurrence is not the same as a validated trading outcome

POINT-IN-TIME LIVE OUTCOMES

Live outcome ledger collecting

0/0 events completed

No completed point-in-time outcome is available yet. New live confirmations are now retained with their exact observation timestamp; statistics appear only after the corresponding candles complete.

Low structural sample

Only 0 completed episodes across 0 active sessions; treat history as context, not a validated playbook. These episode counts describe recurrence; the outcome ledger above is the only forward-performance evidence.

Structural support5 daysHow often the cohort identity was observed

Completed episodes0Separate periods of broad group activity

Active sessions0Completed session observations, not trades

2026-09-088 names in the durable cohort

2026-09-047 names in the durable cohort

2026-09-0111 names in the durable cohort

2026-08-286 names in the durable cohort

2026-08-248 names in the durable cohort

MEMBER CONSISTENCY IN OBSERVED ACTIVE SESSIONS

AX0% · 0 episodes

BANR0% · 0 episodes

EFSC0% · 0 episodes

HG0% · 0 episodes

HMN0% · 0 episodes

NTB0% · 0 episodes

OZK0% · 0 episodes

TOWN0% · 0 episodes