Segment Reporting

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Segment Reporting Disclosure

SEGMENT REPORTING

The Company provides banking and treasury management services to small-, middle-market, and venture-backed businesses. The principal business activities of the Company are gathering deposits, originating and servicing loans and leases and investing in investment securities. The Company's CODM is the Chief Executive Officer.

The Company operates as one reportable segment - Commercial Banking - based on how the CODM manages the business activities, which are described above. The CODM uses net earnings (loss) to evaluate income (loss) generated from segment assets, assess performance, decide how to allocate resources, determine dividend availability, establish management's compensation, and guide other strategic decisions. The accounting policies of the Commercial Banking segment are the same as those described in Note 1. Nature of Operations and Summary of Significant Accounting Policies. Additionally, the Company does not have intra-entity sales or transfers.

The following presents our operating segment income statement, including significant expense categories, regularly reviewed by the CODM, and the reconciliation of segment net earnings (loss) to consolidated net earnings (loss) for the year indicated:

	Year Ended December 31,
	2024		2023		2022
	(In thousands)
Total interest income	$	1,812,705	$	1,971,000	$	1,556,489
Total interest expense	886,655		1,223,872		265,727
Net interest income	926,050		747,128		1,290,762
Provision for credit losses	42,801		52,000		24,500
Net interest income after provision for credit losses	883,249		695,128		1,266,262
Noninterest income (loss)	77,145		(448,285)		74,827
Noninterest expense:
Compensation	341,396		332,353		406,839
Insurance and assessments	70,779		135,666		25,486
Customer related expense	129,471		124,104		55,273
Occupancy	67,993		61,668		60,964
Information technology and data processing	60,418		51,805		45,796
Leased equipment depreciation	29,271		34,243		35,658
Other professional services	20,857		24,623		30,278
Loan expense	17,306		20,458		24,572
Intangible asset amortization	33,143		11,419		13,576
Acquisition, integration and reorganization costs	(14,183)		142,633		5,703
Goodwill impairment	—		1,376,736		29,000
Other expense (1)	35,289		142,473		40,376
Total noninterest expense	791,740		2,458,181		773,521
Earnings (loss) before income taxes	168,654		(2,211,338)		567,568
Income tax expense (benefit)	41,766		(312,201)		143,955
Segment net earnings (loss) (2)	$	126,888	$	(1,899,137)	$	423,613