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Reportable Operating Segments (Tables)

3 Months Ended

Mar. 31, 2025

Reportable Operating Segments

Schedule of selected business segment financial information

Three Months Ended

March 31, 2025

Treasury

Retail

Commercial

and

(dollars in thousands)

Banking

Banking

Other

Total

Interest income

$

84,412

$

107,271

$

43,467

$

235,150

Intersegment interest allocations⁽¹⁾

(63,010)

(77,131)

140,141

—

Total interest income

21,402

30,140

183,608

235,150

Interest expense

(54,881)

(13,934)

(5,809)

(74,624)

Intersegment interest allocations ⁽¹⁾

163,361

26,336

(189,697)

—

Total interest expense

108,480

12,402

(195,506)

(74,624)

Net interest income (expense)

129,882

42,542

(11,898)

160,526

Provision for credit losses

(4,691)

(5,309)

(500)

(10,500)

Net interest income (expense) after provision for credit losses

125,191

37,233

(12,398)

150,026

Noninterest income

26,651

17,755

6,071

50,477

Salaries and employee benefits

(24,612)

(4,791)

(30,701)

(60,104)

Contracted services and professional fees

(3,053)

(3,870)

(7,916)

(14,839)

Occupancy

(7,295)

(495)

(310)

(8,100)

Equipment

(1,395)

(449)

(12,027)

(13,871)

Card rewards program

—

(7,919)

—

(7,919)

Other segment items ⁽²⁾

(36,770)

(2,247)

20,290

(18,727)

Noninterest expense

(73,125)

(19,771)

(30,664)

(123,560)

Income (loss) before (provision) benefit for income taxes

78,717

35,217

(36,991)

76,943

(Provision) benefit for income taxes

(18,774)

(6,961)

8,040

(17,695)

Net income (loss)

$

59,943

$

28,256

$

(28,951)

$

59,248

Other Segment Disclosures:

Depreciation and amortization ⁽³⁾

$

1,048

$

68

$

4,412

$

5,528

Segment earning assets

7,323,191

6,974,197

6,687,259

20,984,647


		Three Months Ended
		March 31, 2024
								Treasury
		Retail			Commercial			and
(dollars in thousands)		Banking			Banking			Other			Total
Interest income		$	84,223		$	116,775		$	43,954		$	244,952
Intersegment interest allocations⁽¹⁾			(62,197)			(83,239)			145,436			—
Total interest income			22,026			33,536			189,390			244,952

Interest expense			(58,372)			(15,313)			(16,840)			(90,525)
Intersegment interest allocations ⁽¹⁾			164,403			27,158			(191,561)			—
Total interest expense			106,031			11,845			(208,401)			(90,525)
Net interest income (expense)			128,057			45,381			(19,011)			154,427

(Provision) benefit for credit losses			(3,379)			(3,713)			792			(6,300)
Net interest income (expense) after (provision) benefit for credit losses			124,678			41,668			(18,219)			148,127

Noninterest income			26,035			17,958			7,378			51,371

Salaries and employee benefits			(25,238)			(4,996)			(29,028)			(59,262)
Contracted services and professional fees			(2,881)			(4,389)			(8,469)			(15,739)
Occupancy			(7,416)			(491)			966			(6,941)
Equipment			(1,308)			(361)			(11,744)			(13,413)
Card rewards program			—			(8,508)			—			(8,508)
Other segment items ⁽²⁾			(39,797)			(6,940)			21,787			(24,950)
Noninterest expense			(76,640)			(25,685)			(26,488)			(128,813)

Income (loss) before (provision) benefit for income taxes			74,073			33,941			(37,329)			70,685
(Provision) benefit for income taxes			(17,928)			(7,273)			8,736			(16,465)
Net income (loss)		$	56,145		$	26,668		$	(28,593)		$	54,220

Other Segment Disclosures:
Depreciation and amortization ⁽³⁾		$	1,136		$	68		$	3,713		$	4,917
Segment earning assets			7,474,076			6,880,199			7,263,325			21,617,600

(1)	Intersegment interest allocations are the result of funds transfer-pricing methodologies that are utilized to allocate a cost for the funding of assets and a credit for the collection of deposits to all business segment assets and liabilities.

(2)	Other segment items included in segment net income includes advertising and marketing, regulatory assessment and fees, allocations and transfer pricing on non-earning assets, liabilities and equity, and other miscellaneous and administrative fees.

(3)	The amounts of depreciation and amortization disclosed by reportable segment are included within equipment, occupancy, other segment items, and noninterest income.