Segment Reporting (Tables)

3 Months Ended

6 Months Ended

Jun. 30, 2026

Financial information about the Corporation’s segments is presented below:


	Three Months Ended June 30, 2026
(in thousands)	Corporate and Commercial Specialty		Community, Consumer and Business		Risk Management and Shared Services		Consolidated 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 income	15,648		56,437		8,313		80,398
Total income (expense) before provision	177,331		278,964		(5,858)		450,437
Provision for credit losses	21,287		6,456		(8,355)		19,388
Total income after provision	156,044		272,508		2,497		431,049
Noninterest expense
Personnel	24,595		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 advertising	1,128		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 costs	233		1,296		23		1,552
FDIC assessment	—		—		10,595		10,595
Other intangible amortization	—		—		6,894		6,894

Other noninterest expense	1,087		10,376		1,827		13,290
Allocated indirect expense (income)	29,531		70,523		(100,054)		—
Total noninterest expense	58,400		174,545		38,937		271,882
Net income (loss) before income taxes	97,644		97,963		(36,440)		159,167
Income tax expense	17,567		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 goodwill	556,343		590,738		—		1,147,081
Total assets	22,552,085		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 Specialty		Community, Consumer and Business		Risk Management and Shared Services		Consolidated 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 income	11,984		51,481		3,512		66,977
Total income (expense) before provision	147,625		263,830		(44,478)		366,977
Provision for credit losses	20,369		6,363		(8,736)		17,996
Total income (expense) after provision	127,256		257,467		(35,742)		348,981
Noninterest expense
Personnel	20,149		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 advertising	1,252		968		5,528		7,748
Equipment(a)	6		2,301		2,187		4,494
Legal and professional	221		529		5,924		6,674
Loan and foreclosure costs	261		1,171		1,273		2,705
FDIC assessment	—		—		9,708		9,708
Other intangible amortization	—		—		2,203		2,203

Other noninterest expense	934		8,024		716		9,674
Allocated indirect expense (income)	32,166		63,408		(95,574)		—
Total noninterest expense	56,021		153,331		—		209,352
Net income (loss) before income taxes	71,236		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 goodwill	525,836		579,156		—		1,104,992
Total assets	17,907,721		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.


	Six Months Ended Jun 30, 2026
(in thousands)	Corporate and Commercial Specialty		Community, Consumer and Business		Risk Management and Shared Services		Consolidated Corporation
Net segment interest income	$	498,429	$	154,917	$	23,882	$	677,228
Net intersegment interest (expense) income	(208,353)		266,076		(57,723)		—
Net interest income (expense)	290,076		420,993		(33,841)		677,228
Noninterest income	29,540		112,380		14,336		156,256
Total income (expense) before provision	319,616		533,373		(19,505)		833,484
Provision for credit losses	41,947		13,391		(24,949)		30,389
Total income after provision	277,669		519,982		5,444		803,095
Noninterest expense
Personnel	48,145		130,410		117,786		296,341
Technology(a)	2,116		27,978		32,509		62,603
Occupancy(a)	473		16,756		10,588		27,817
Business development and advertising	2,097		1,527		12,750		16,374
Equipment(a)	12		4,395		6,626		11,033
Legal and professional	529		2,160		21,487		24,176
Loan and foreclosure costs	721		2,236		302		3,259
FDIC assessment	—		—		19,432		19,432
Other intangible amortization	—		—		9,096		9,096

Other noninterest expense	1,808		18,058		1,048		20,914
Allocated indirect expense (income)	52,230		127,110		(179,340)		—
Total noninterest expense	108,131		330,630		52,284		491,045
Net income (loss) before income taxes	169,538		189,352		(46,840)		312,050
Income tax expense (benefit)	30,825		39,868		(1,843)		68,850
Net income (loss)	$	138,713	$	149,484	$	(44,997)	$	243,200

(a) A portion of total depreciation expense of $0.3 million, $12.5 million, and $11.9 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.


	Six Months Ended Jun 30, 2025
(in thousands)	Corporate and Commercial Specialty		Community, Consumer and Business		Risk Management and Shared Services		Consolidated Corporation
Net segment interest income (expense)	$	470,263	$	131,367	$	(15,690)	$	585,940
Net intersegment interest (expense) income	(203,557)		288,856		(85,299)		—
Net interest income (expense)	266,706		420,223		(100,989)		585,940
Noninterest income	24,887		100,560		307		125,754
Total income (expense) before provision	291,593		520,783		(100,682)		711,694
Provision for credit losses	39,382		12,434		(20,817)		30,999
Total income (expense) after provision	252,211		508,349		(79,865)		680,695
Noninterest expense
Personnel	41,475		116,513		92,902		250,890
Technology(a)	1,432		25,947		26,267		53,646
Occupancy(a)	336		15,820		11,869		28,025
Business development and advertising	2,186		1,805		10,143		14,134
Equipment(a)	12		4,331		4,678		9,021
Legal and professional	422		1,343		10,992		12,757
Loan and foreclosure costs	1,071		2,516		1,712		5,299
FDIC assessment	—		—		20,144		20,144
Other intangible amortization	—		—		4,405		4,405

Other noninterest expense	1,714		15,427		4,507		21,648
Allocated indirect expense (income)	63,505		124,114		(187,619)		—
Total noninterest expense	112,155		307,816		—		419,971
Net income (loss) before income taxes	140,056		200,533		(79,865)		260,724
Income tax expense (benefit)	25,997		42,112		(20,301)		47,808
Net income (loss)	$	114,059	$	158,421	$	(59,564)	$	212,916

(a) A portion of total depreciation expense of $0.1 million, $11.8 million, and $14.0 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.

Expenses included within the other noninterest expense line of the segment information above relate to the remaining segment expenses including office expense and card issuance costs. None of the individual expense categories rise to the level of significance for the segment; however, they are utilized in determining the profit or loss measure for each segment.

The management accounting policies and processes utilized in compiling segment financial information are highly subjective and, unlike financial accounting, are not based on authoritative guidance similar to U.S. GAAP. As a result, reportable segments and the financial information of the reported segments are not necessarily comparable with similar information reported by other financial institutions. Furthermore, the information presented is not indicative of how the segments would perform if they operated as independent entities.

The chief operating decision maker for each of the segments is the President and Chief Executive Officer of the Corporation. For the Corporate and Commercial Specialty and Community, Consumer and Business segments, the chief operating decision maker utilizes net interest income, net income and average total loans and deposits in allocating resources for each segment predominantly in the annual budget and forecasting process. The chief operating decision maker considers budget-to-actual variances on a monthly basis for both profit measures when making decisions about allocating capital and personnel to the segments. Based on the reviews of these two segments and other company-wide initiatives, the chief operating decision maker is informed about allocation of resources to the Risk Management and Shared Services segment.