Mergers and Acquisitions (Tables)

9 Months Ended

Sep. 30, 2025

Business Combination [Abstract]

Schedule of Allocation of Purchase Price to Assets and Liabilities Acquired

The following table summarizes the calculation of the purchase price in connection with the Company’s merger with The First.

Purchase Price:
Shares issued to common shareholders, excluding unvested restricted stock awards	30,811,851
Purchase price per share	$	33.93
Value of stock paid	$	1,045,446
Fair value of converted unvested restricted stock awards for pre-combination service	5,375
Cash settlement for stock options, net of tax benefit	1,869
Total purchase price	$	1,052,690

Schedule of Fair Value of Assets Acquired and Liabilities Assumed

The following table summarizes the fair value on April 1, 2025 of assets acquired and liabilities assumed on that date in connection with the merger with The First.

	As Reported by The First		Preliminary Adjustments		Measurement Period Adjustments		Fair Value of Net Assets Acquired at Date of Acquisition
Cash and cash equivalents	$	263,352	$	—	$	—	$	263,352
Securities	1,528,975		(71,772)		174		1,457,377
Loans, including loans held for sale	5,327,056		(152,153)		(1,511)		5,173,392
Premises and equipment	174,770		(1,596)		—		173,174
Bank-owned life insurance	146,601		—		—		146,601
Other real estate owned	8,413		2,696		—		11,109
Core deposit intangible	56,899		102,711		—		159,610
Other assets	169,500		3,859		379		173,738
Total assets	$	7,675,566	$	(116,255)	$	(958)	$	7,558,353
Deposits	$	6,456,784	$	(7,391)	$	—	6,449,393
Borrowings	422,067		(2,902)		—		419,165
Other liabilities	75,760		(15,903)		61		59,918
Total liabilities	$	6,954,611	$	(26,196)	$	61	$	6,928,476
Net identifiable assets acquired over liabilities assumed	$	720,955	$	(90,059)	$	(1,019)	$	629,877
Goodwill(1)	272,520		158,364		(8,071)		422,813
Net assets acquired over liabilities assumed	$	993,475	$	68,305	$	(9,090)	$	1,052,690

(1) The goodwill resulting from the merger has been assigned to the Community Banks operating segment.

Schedule of Business Combination, Acquired Loan Portfolio

The following table presents additional information related to the acquired loan portfolio at the acquisition date:

	April 1, 2025
Purchased Credit-Deteriorated (“PCD”) loans:
Par value	$	168,511
Allowance for credit losses at acquisition	(25,003)
Non-credit discount	(4,021)
Purchase price	$	139,487
Non-PCD loans:
Fair value	$	5,032,996
Gross contractual amounts receivable	5,233,447
Estimate of contractual cash flows not expected to be collected	62,190

Schedule of Pro Forma Combined Condensed Consolidated Financial Information

The pro forma information does not include the effect of any cost-saving or revenue-enhancing strategies. Other than the aforementioned $20,479 in merger-related expenses, which were attributed to the first quarter of 2024, merger expenses are reflected in the period in which they were incurred.

	(Unaudited)				(Unaudited)
	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2025		2024		2025		2024
Net interest income - pro forma	$	214,571	$	210,037	$	639,871	$	620,429
Noninterest income - pro forma	$	46,026	$	99,012	$	139,289	$	200,096
Noninterest expense - pro forma	$	183,830	$	175,935	$	548,533	$	516,469
Net income - pro forma	$	50,839	$	98,877	$	173,055	$	175,698
Earnings per share - pro forma:
Basic	$	0.54	$	1.07	$	1.83	$	1.96
Diluted	$	0.53	$	1.06	$	1.81	$	1.95