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Segment Reporting
 3 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Segment Reporting Segment Reporting
The Corporation is managed through operating segments based on our internal structure and management process, which is how we assess performance and allocate resources to the segments. Certain operating segments have been aggregated into our three reportable segments where the nature of the products and services, the type of customer, and the distribution of those products and services are similar. The three reportable segments are Corporate and Commercial Specialty; Community, Consumer, and
Business; and Risk Management and Shared Services. A description of the products and services and the related customers for each reportable segment can be found in the Segment Reporting note in the Corporation’s 2025 Annual Report on Form 10-K.
Effective beginning the first quarter of 2026, the Corporation made adjustments to both its FTP and expense allocation of shared services to its reportable segments to better align with how management assesses performance and allocates resources. These changes consisted of updates to the FTP methodology, including revisions to the funding curve and deposit assumptions; reassignment of certain branch locations based on the primary business activities supported by those branches; and revisions to the allocation of shared service expenses. The Corporation has recast prior period segment information to conform to the current period presentation.
The financial information of the Corporation’s segments disclosed below has been compiled utilizing the accounting policies described in the Corporation’s 2025 Annual Report on Form 10-K with certain exceptions based on internal management accounting policies. The significant exceptions are as follows:
The Corporation allocates certain net interest income, the provision for credit losses, certain noninterest expenses, and income taxes to each operating segment. Allocation methodologies are subject to periodic adjustment as the internal management accounting system is revised, the interest rate environment evolves, and business or product lines within the segments change. Also, because the development and application of these methodologies is a dynamic process, the financial results presented may be periodically reviewed.
The Corporation allocates certain net interest income using an internal FTP methodology that charges users of funds (assets, primarily loans) and credits providers of funds (liabilities, primarily deposits) based on the funding curve, maturity, prepayment, and other characteristics of the assets and liabilities. This allocation is reflected as net intersegment interest income (expense) in the accompanying tables.
The provision for credit losses is allocated to segments based on the expected long-term annual net charge off rates attributable to the credit risk of loans managed by the segment during the period. In contrast, the level of the consolidated provision for credit losses is determined based on an ACLL model using methodologies described in the Corporation’s 2025 Annual Report on Form 10-K.
The net effect of the above allocations is recorded within the Risk Management and Shared Services segment to ensure consolidated totals reflect the Corporation's consolidated financial information.
Indirect expenses incurred by the Corporation's centralized support functions - including facilities, information technology, finance, and corporate risk management - are allocated to reportable segments based on actual usage, such as transaction volumes or FTEs, as well as other relevant drivers that reflect consumption of those services. Because these allocations are based on estimated activity levels, individual period results may reflect variability in the distribution of indirect expenses among segments. Certain corporate-level expenses, including acquisition-related costs, integration expenses, and gains or losses on the disposition of branches or business units, are not allocated and remain in the Risk Management and Shared Services segment. These allocations are reflected as allocated indirect expense in the accompanying tables.
Income tax expense (benefit) is allocated to segments based on the Corporation’s estimated effective tax rate, with certain segments adjusted for any tax-exempt income or non-deductible expenses.
Financial information about the Corporation’s segments is presented below:
Three Months Ended June 30, 2026
(in thousands)Corporate and Commercial SpecialtyCommunity, Consumer and BusinessRisk Management and Shared ServicesConsolidated Corporation
Net segment interest income$267,324 $86,481 $16,234 $370,039 
Net intersegment interest (expense) income(105,641)136,046 (30,405)— 
Net interest income (expense)161,683 222,527 (14,171)370,039 
Noninterest income15,648 56,437 8,313 80,398 
Total income (expense) before provision177,331 278,964 (5,858)450,437 
Provision for credit losses21,287 6,456 (8,355)19,388 
Total income after provision156,044 272,508 2,497 431,049 
Noninterest expense
Personnel24,595 65,456 71,117 161,168 
Technology(a)
1,293 13,853 17,721 32,867 
Occupancy(a)
255 8,405 5,431 14,091 
Business development and advertising1,128 839 6,581 8,548 
Equipment(a)
6 2,319 3,098 5,423 
Legal and professional 272 1,478 15,704 17,454 
Loan and foreclosure costs233 1,296 23 1,552 
FDIC assessment— — 10,595 10,595 
Other intangible amortization— — 6,894 6,894 
Other noninterest expense1,087 10,376 1,827 13,290 
Allocated indirect expense (income)29,531 70,523 (100,054)— 
Total noninterest expense58,400 174,545 38,937 271,882 
Net income (loss) before income taxes97,644 97,963 (36,440)159,167 
Income tax expense17,567 20,676 (2,640)35,603 
Net income (loss)$80,077 $77,287 $(33,800)$123,564 
Loans$21,736,674 $14,231,238 $499,128 $36,467,040 
Allocated goodwill556,343 590,738 — 1,147,081 
Total assets22,552,085 15,452,018 13,808,403 51,812,506 
(a) A portion of total depreciation expense of $0.2 million, $6.3 million, and $6.0 million for the Corporate and Commercial Specialty, Community Consumer and Business, and Risk Management and Shared Services segments, respectively, is included in this expense caption.
Three Months Ended June 30, 2025
(in thousands)Corporate and Commercial SpecialtyCommunity, Consumer and BusinessRisk Management and Shared ServicesConsolidated Corporation
Net segment interest income (expense)$242,978 $68,871 $(11,849)$300,000 
Net intersegment interest (expense) income(107,337)143,478 (36,141)— 
Net interest income (expense)135,641 212,349 (47,990)300,000 
Noninterest income11,984 51,481 3,512 66,977 
Total income (expense) before provision147,625 263,830 (44,478)366,977 
Provision for credit losses20,369 6,363 (8,736)17,996 
Total income (expense) after provision127,256 257,467 (35,742)348,981 
Noninterest expense
Personnel20,149 56,641 50,204 126,994 
Technology(a)
842 12,903 12,763 26,508 
Occupancy(a)
190 7,386 5,068 12,644 
Business development and advertising1,252 968 5,528 7,748 
Equipment(a)
6 2,301 2,187 4,494 
Legal and professional221 529 5,924 6,674 
Loan and foreclosure costs261 1,171 1,273 2,705 
FDIC assessment— — 9,708 9,708 
Other intangible amortization— — 2,203 2,203 
Other noninterest expense934 8,024 716 9,674 
Allocated indirect expense (income)32,166 63,408 (95,574)— 
Total noninterest expense56,021 153,331 — 209,352 
Net income (loss) before income taxes71,236 104,137 (35,744)139,629 
Income tax expense (benefit)13,211 21,869 (6,681)28,399 
Net income (loss)$58,025 $82,268 $(29,063)$111,230 
Loans$17,617,892 $12,531,178 $458,535 $30,607,605 
Allocated goodwill525,836 579,156 — 1,104,992 
Total assets17,907,721 13,043,969 13,042,039 43,993,729 
a) A portion of total depreciation expense of $0.1 million, $5.9 million, and $6.0 million for the Corporate and Commercial Specialty, Community Consumer and Business, and Risk Management and Shared Services segments, respectively, is included in this expense caption.