OPERATING SEGMENTS AND RELATED INFORMATION (Tables)

6 Months Ended

Jun. 30, 2025

Schedule of Information Relating to Operating Segments

Goodwill and total assets are summarized below by operating segment. The “other” category included in the tables below consists of the parent company and the elimination of intercompany transactions:


	As of June 30, 2025
(dollars in thousands)	Banking		Wealth Management		FirsTech		Other		Total
Goodwill	$	358,694	$	14,108	$	8,992	$	—	$	381,794
Total assets	18,708,690		137,756		46,681		25,613		18,918,740


	As of December 31, 2024
(dollars in thousands)	Banking		Wealth Management		FirsTech		Other		Total
Goodwill	$	310,595	$	14,108	$	8,992	$	—	$	333,695
Total assets	11,856,651		126,180		57,737		6,154		12,046,722

Financial results by operating segment, including significant expense categories provided to the chief operating decision maker, are summarized below:


	Three Months Ended June 30, 2025
(dollars in thousands)	Banking		Wealth Management		FirsTech		Other		Total
Interest income	$	247,444	$	—	$	—	$	2	$	247,446
Intersegment interest income	—		—		17		(17)		—
Interest expense	90,247		—		—		4,016		94,263
Intersegment interest expense	866		—		—		(866)		—
Net interest income	156,331		—		17		(3,165)		153,183
Provision for credit losses	5,700		—		—		—		5,700
Net interest income after provision for credit losses	150,631		—		17		(3,165)		147,483

Noninterest income
Wealth management fees	—		16,777		—		—		16,777
Payment technology solutions	—		—		4,956		—		4,956
Treasury management services	4,981		—		—		—		4,981
Card services and ATM fees	4,880		—		—		—		4,880
Other service charges on deposit accounts	1,513		—		—		—		1,513
All other noninterest income	5,556		209		—		5,991		11,756
Intersegment noninterest income	316		—		429		(745)		—
Noninterest income	17,246		16,986		5,385		5,246		44,863

Revenue	173,577		16,986		5,402		2,081		198,046

Noninterest expense
Salaries, wages, and employee benefits	57,247		7,106		2,851		11,156		78,360
Data processing	12,381		622		922		96		14,021
Amortization of intangible assets	4,364		228		—		—		4,592
Interchange expense	—		—		1,297		—		1,297
All other noninterest expense	26,162		590		718		2,093		29,563
Intersegment noninterest expense	5,156		778		360		(6,294)		—
Noninterest expense	105,310		9,324		6,148		7,051		127,833

Income (loss) before income taxes	62,567		7,662		(746)		(4,970)		64,513
Income taxes	16,729		1,839		(202)		(1,257)		17,109
Net income	$	45,838	$	5,823	$	(544)	$	(3,713)	$	47,404


	Three Months Ended June 30, 2024
(dollars in thousands)	Banking		Wealth Management		FirsTech		Other		Total
Interest income	$	131,928	$	—	$	—	$	11	$	131,939
Intersegment interest income	324		—		12		(336)		—
Interest expense	45,126		—		—		4,281		49,407
Intersegment interest expense	785		—		—		(785)		—
Net interest income	86,341		—		12		(3,821)		82,532
Provision for credit losses	1,908		—		—		—		1,908
Net interest income after provision for credit losses	84,433		—		12		(3,821)		80,624

Noninterest income
Wealth management fees	—		15,917		—		—		15,917
Payment technology solutions	—		—		5,915		—		5,915
Treasury management services	2,145		—		—		—		2,145
Card services and ATM fees	3,430		—		—		—		3,430
Other service charges on deposit accounts	2,321		—		—		—		2,321
All other noninterest income	4,123		191		—		(339)		3,975
Intersegment noninterest income	316		—		264		(580)		—
Noninterest income	12,335		16,108		6,179		(919)		33,703

Revenue	98,676		16,108		6,191		(4,740)		116,235

Noninterest expense
Salaries, wages, and employee benefits	30,382		6,466		2,471		4,159		43,478
Data processing	5,411		531		994		164		7,100
Amortization of intangible assets	2,335		294		—		—		2,629
Interchange expense	—		—		1,733		—		1,733
All other noninterest expense	17,990		726		598		1,652		20,966
Intersegment noninterest expense	2,848		774		357		(3,979)		—
Noninterest expense	58,966		8,791		6,153		1,996		75,906

Income (loss) before income taxes	37,802		7,317		38		(6,736)		38,421
Income taxes	11,105		1,756		10		(1,807)		11,064
Net income	$	26,697	$	5,561	$	28	$	(4,929)	$	27,357


	Six Months Ended June 30, 2025
(dollars in thousands)	Banking		Wealth Management		FirsTech		Other		Total
Interest income	$	414,256	$	—	$	—	$	5	$	414,261
Intersegment interest income	—		—		30		(30)		—
Interest expense	148,764		—		—		8,583		157,347
Intersegment interest expense	1,357		—		—		(1,357)		—
Net interest income	264,135		—		30		(7,251)		256,914
Provision for credit losses	51,293		—		—		—		51,293
Net interest income after provision for credit losses	212,842		—		30		(7,251)		205,621

Noninterest income
Wealth management fees	—		34,141		—		—		34,141
Payment technology solutions	—		—		10,029		—		10,029
Treasury management services	7,998		—		—		—		7,998
Card services and ATM fees	8,589		—		—		—		8,589
Other service charges on deposit accounts	3,046		—		—		—		3,046
All other noninterest income	(3,823)		411		(2)		5,697		2,283
Intersegment noninterest income	668		—		774		(1,442)		—
Noninterest income	16,478		34,552		10,801		4,255		66,086

Revenue	280,613		34,552		10,831		(2,996)		323,000

Noninterest expense
Salaries, wages, and employee benefits	103,973		14,137		5,332		22,481		145,923
Data processing	20,330		1,215		1,859		192		23,596
Amortization of intangible assets	7,205		470		—		—		7,675
Interchange expense	—		—		2,640		—		2,640
All other noninterest expense	45,987		1,327		1,335		11,380		60,029
Intersegment noninterest expense	9,821		1,558		729		(12,108)		—
Noninterest expense	187,316		18,707		11,895		21,945		239,863

Income (loss) before income taxes	42,004		15,845		(1,064)		(24,941)		31,844
Income taxes	15,859		3,803		(281)		(4,951)		14,430
Net income	$	26,145	$	12,042	$	(783)	$	(19,990)	$	17,414


	Six Months Ended June 30, 2024
(dollars in thousands)	Banking		Wealth Management		FirsTech		Other		Total
Interest income	$	257,738	$	—	$	—	$	21	$	257,759
Intersegment interest income	324		—		25		(349)		—
Interest expense	90,449		—		—		8,924		99,373
Intersegment interest expense	1,652		—		—		(1,652)		—
Net interest income	165,961		—		25		(7,600)		158,386
Provision for credit losses	6,268		—		—		—		6,268
Net interest income after provision for credit losses	159,693		—		25		(7,600)		152,118

Noninterest income
Wealth management fees	—		31,466		—		—		31,466
Payment technology solutions	—		—		11,624		—		11,624
Treasury management services	4,046		—		—		—		4,046
Card services and ATM fees	6,390		—		—		—		6,390
Other service charges on deposit accounts	4,669		—		—		—		4,669
All other noninterest income	9,983		354		—		84		10,421
Intersegment noninterest income	632		—		526		(1,158)		—
Noninterest income	25,720		31,820		12,150		(1,074)		68,616

Revenue	191,681		31,820		12,175		(8,674)		227,002

Noninterest expense
Salaries, wages, and employee benefits	57,743		13,225		4,920		9,680		85,568
Data processing	10,444		1,047		1,852		307		13,650
Amortization of intangible assets	4,437		601		—		—		5,038
Interchange expense	—		—		3,344		—		3,344
All other noninterest expense	33,681		1,506		1,183		3,383		39,753
Intersegment noninterest expense	5,726		1,548		720		(7,994)		—
Noninterest expense	112,031		17,927		12,019		5,376		147,353

Income (loss) before income taxes	73,382		13,893		156		(14,050)		73,381
Income taxes	20,193		3,334		42		(3,770)		19,799
Net income	$	53,189	$	10,559	$	114	$	(10,280)	$	53,582