XML 29 R17.htm IDEA: XBRL DOCUMENT
v3.25.3

SEGMENT REPORTING | 9 Months Ended
--- | ---
Sep. 30, 2025
Segment Reporting [Abstract] |
SEGMENT REPORTING | NOTE 9 – SEGMENT REPORTING The Company has the following four reportable segments: Banking Division, Retail Mortgage Division, Warehouse Lending Division and Premium Finance Division. The Banking Division derives its revenues from the delivery of full-service financial services, including commercial loans, consumer loans and deposit accounts. The Retail Mortgage Division derives its revenues from the origination, sales and servicing of one-to-four family residential mortgage loans. The Warehouse Lending Division derives its revenues from the origination and servicing of warehouse lines to other businesses that are secured by underlying one-to-four family residential mortgage loans or mortgage servicing rights. The Premium Finance Division derives its revenues from the origination and servicing of commercial insurance premium finance loans. The Banking, Retail Mortgage, Warehouse Lending and Premium Finance Divisions are managed as separate business units because of the different products and services they provide. The Company evaluates performance and allocates resources based on profit or loss from operations. There are no material intersegment sales or transfers. The chief operating decision maker (CODM) within the Company is the Chief Executive Officer, who also serves as a member of the Board of Directors and as Chair of the Executive Committee of the Board. The CODM regularly receives a package of period-end reports and works with management in making necessary operating decisions, including the allocation of resources among the Company's segments. This includes evaluation of performance as measured by net income for each segment. Each segment that is reported has strategic planning, budgeting, and forecasting sessions at least annually with the CODM through executive management. The following tables present selected financial information with respect to the Company’s reportable business segments for the three and nine months ended September 30, 2025 and 2024:
| Three Months Ended September 30, 2025
(dollars in thousands) | Banking Division |  | Retail Mortgage Division |  | Warehouse Lending Division |  |  |  | Premium Finance Division |  | Total
Interest income | $ | 245,322 |  |  | $ | 60,261 |  |  | $ | 18,803 |  |  |  |  | $ | 30,660 |  |  | $ | 355,046 |
Interest expense | 47,262 |  |  | 40,082 |  |  | 11,329 |  |  |  |  | 18,409 |  |  | 117,082 |
Net interest income | 198,060 |  |  | 20,179 |  |  | 7,474 |  |  |  |  | 12,251 |  |  | 237,964 |
Provision for credit losses | 21,617 |  |  | 529 |  |  | 23 |  |  |  |  | 461 |  |  | 22,630 |
Noninterest income | 35,419 |  |  | 40,081 |  |  | 756 |  |  |  |  | 18 |  |  | 76,274 |
Noninterest expense |  |  |  |  |  |  |  |  |  |  |
Salaries and employee benefits | 66,301 |  |  | 21,589 |  |  | 566 |  |  |  |  | 2,492 |  |  | 90,948 |
Occupancy and equipment | 10,718 |  |  | 760 |  |  | 7 |  |  |  |  | 39 |  |  | 11,524 |
Data processing and communications expenses | 14,668 |  |  | 1,232 |  |  | 57 |  |  |  |  | 101 |  |  | 16,058 |
Other expenses(1) | 22,286 |  |  | 12,480 |  |  | 195 |  |  |  |  | 1,075 |  |  | 36,036 |
Total noninterest expense | 113,973 |  |  | 36,061 |  |  | 825 |  |  |  |  | 3,707 |  |  | 154,566 |
Income before income tax expense | 97,889 |  |  | 23,670 |  |  | 7,382 |  |  |  |  | 8,101 |  |  | 137,042 |
Income tax expense | 22,824 |  |  | 4,970 |  |  | 1,550 |  |  |  |  | 1,669 |  |  | 31,013 |
Net income | $ | 75,065 |  |  | $ | 18,700 |  |  | $ | 5,832 |  |  |  |  | $ | 6,432 |  |  | $ | 106,029 |
Total assets | $ | 19,510,473 |  |  | $ | 4,693,083 |  |  | $ | 1,105,821 |  |  |  |  | $ | 1,790,452 |  |  | $ | 27,099,829 |
Goodwill | 951,148 |  |  | — |  |  | — |  |  |  |  | 64,498 |  |  | 1,015,646 |
Other intangible assets, net | 57,773 |  |  | — |  |  | — |  |  |  |  | 930 |  |  | 58,703 |
| Three Months Ended September 30, 2024
(dollars in thousands) | Banking Division |  | Retail Mortgage Division |  | Warehouse Lending Division |  |  |  | Premium Finance Division |  | Total
Interest income | $ | 243,964 |  |  | $ | 60,789 |  |  | $ | 21,677 |  |  |  |  | $ | 28,716 |  |  | $ | 355,146 |
Interest expense | 71,329 |  |  | 37,236 |  |  | 13,865 |  |  |  |  | 18,656 |  |  | 141,086 |
Net interest income | 172,635 |  |  | 23,553 |  |  | 7,812 |  |  |  |  | 10,060 |  |  | 214,060 |
Provision for credit losses | 5,566 |  |  | 254 |  |  | (170) |  |  |  |  | 457 |  |  | 6,107 |
Noninterest income | 26,435 |  |  | 41,498 |  |  | 1,765 |  |  |  |  | 11 |  |  | 69,709 |
Noninterest expense |  |  |  |  |  |  |  |  |  |  |
Salaries and employee benefits | 62,634 |  |  | 23,233 |  |  | 621 |  |  |  |  | 2,212 |  |  | 88,700 |
Occupancy and equipment | 10,725 |  |  | 957 |  |  | 6 |  |  |  |  | 28 |  |  | 11,716 |
Data processing and communications expenses | 13,922 |  |  | 1,184 |  |  | 32 |  |  |  |  | 83 |  |  | 15,221 |
Other expenses(1) | 22,619 |  |  | 12,164 |  |  | 217 |  |  |  |  | 1,140 |  |  | 36,140 |
Total noninterest expense | 109,900 |  |  | 37,538 |  |  | 876 |  |  |  |  | 3,463 |  |  | 151,777 |
Income before income tax expense | 83,604 |  |  | 27,259 |  |  | 8,871 |  |  |  |  | 6,151 |  |  | 125,885 |
Income tax expense | 17,832 |  |  | 5,724 |  |  | 1,863 |  |  |  |  | 1,254 |  |  | 26,673 |
Net income | $ | 65,772 |  |  | $ | 21,535 |  |  | $ | 7,008 |  |  |  |  | $ | 4,897 |  |  | $ | 99,212 |
Total assets | $ | 18,983,335 |  |  | $ | 4,899,282 |  |  | $ | 1,001,666 |  |  |  |  | $ | 1,515,499 |  |  | $ | 26,399,782 |
Goodwill | 951,148 |  |  | — |  |  | — |  |  |  |  | 64,498 |  |  | 1,015,646 |
Other intangible assets, net | 71,164 |  |  | — |  |  | — |  |  |  |  | 3,777 |  |  | 74,941 |
(1) Other expenses for each reportable segment include credit resolution-related expenses, advertising and marketing expenses, amortization of intangible assets, and loan servicing expenses.
| Nine Months Ended September 30, 2025
(dollars in thousands) | Banking Division |  | Retail Mortgage Division |  | Warehouse Lending Division |  |  |  | Premium Finance Division |  | Total
Interest income | $ | 717,852 |  |  | $ | 179,549 |  |  | $ | 52,177 |  |  |  |  | $ | 86,884 |  |  | $ | 1,036,462 |
Interest expense | 144,078 |  |  | 115,495 |  |  | 31,710 |  |  |  |  | 53,563 |  |  | 344,846 |
Net interest income | 573,774 |  |  | 64,054 |  |  | 20,467 |  |  |  |  | 33,321 |  |  | 691,616 |
Provision for credit losses | 38,714 |  |  | 6,730 |  |  | 217 |  |  |  |  | 1,633 |  |  | 47,294 |
Noninterest income | 93,418 |  |  | 112,536 |  |  | 3,203 |  |  |  |  | 51 |  |  | 209,208 |
Noninterest expense |  |  |  |  |  |  |  |  |  |  |
Salaries and employee benefits | 191,018 |  |  | 66,942 |  |  | 1,736 |  |  |  |  | 7,175 |  |  | 266,871 |
Occupancy and equipment | 31,069 |  |  | 2,400 |  |  | 21 |  |  |  |  | 112 |  |  | 33,602 |
Data processing and communications expenses | 41,884 |  |  | 3,920 |  |  | 154 |  |  |  |  | 321 |  |  | 46,279 |
Other expenses(1) | 73,449 |  |  | 36,939 |  |  | 561 |  |  |  |  | 3,159 |  |  | 114,108 |
Total noninterest expense | 337,420 |  |  | 110,201 |  |  | 2,472 |  |  |  |  | 10,767 |  |  | 460,860 |
Income before income tax expense | 291,058 |  |  | 59,659 |  |  | 20,981 |  |  |  |  | 20,972 |  |  | 392,670 |
Income tax expense | 67,645 |  |  | 12,528 |  |  | 4,406 |  |  |  |  | 4,293 |  |  | 88,872 |
Net income | $ | 223,413 |  |  | $ | 47,131 |  |  | $ | 16,575 |  |  |  |  | $ | 16,679 |  |  | $ | 303,798 |
| Nine Months Ended September 30, 2024
(dollars in thousands) | Banking Division |  | Retail Mortgage Division |  | Warehouse Lending Division |  |  |  | Premium Finance Division |  | Total
Interest income | $ | 722,943 |  |  | $ | 174,889 |  |  | $ | 57,540 |  |  |  |  | $ | 76,549 |  |  | $ | 1,031,921 |
Interest expense | 212,303 |  |  | 104,307 |  |  | 37,408 |  |  |  |  | 50,534 |  |  | 404,552 |
Net interest income | 510,640 |  |  | 70,582 |  |  | 20,132 |  |  |  |  | 26,015 |  |  | 627,369 |
Provision for credit losses | 45,581 |  |  | (296) |  |  | 334 |  |  |  |  | 366 |  |  | 45,985 |
Noninterest income | 90,325 |  |  | 130,408 |  |  | 3,533 |  |  |  |  | 32 |  |  | 224,298 |
Noninterest expense |  |  |  |  |  |  |  |  |  |  |
Salaries and employee benefits | 181,473 |  |  | 69,560 |  |  | 2,633 |  |  |  |  | 6,165 |  |  | 259,831 |
Occupancy and equipment | 33,952 |  |  | 3,014 |  |  | 20 |  |  |  |  | 174 |  |  | 37,160 |
Data processing and communications expenses | 40,862 |  |  | 3,826 |  |  | 116 |  |  |  |  | 264 |  |  | 45,068 |
Other expenses(1) | 71,680 |  |  | 38,091 |  |  | 752 |  |  |  |  | 3,263 |  |  | 113,786 |
Total noninterest expense | 327,967 |  |  | 114,491 |  |  | 3,521 |  |  |  |  | 9,866 |  |  | 455,845 |
Income before income tax expense | 227,417 |  |  | 86,795 |  |  | 19,810 |  |  |  |  | 15,815 |  |  | 349,837 |
Income tax expense | 59,950 |  |  | 18,227 |  |  | 4,160 |  |  |  |  | 3,191 |  |  | 85,528 |
Net income | $ | 167,467 |  |  | $ | 68,568 |  |  | $ | 15,650 |  |  |  |  | $ | 12,624 |  |  | $ | 264,309 |
(1) Other expenses for each reportable segment include credit resolution-related expenses, advertising and marketing expenses, amortization of intangible assets, and loan servicing expenses.

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-15 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-42 Reference 7: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 270 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (i) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482964/270-10-50-1 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (ee) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 11: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 12: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 13: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 14: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 15: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 16: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 17: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 18: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 19: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-34 Reference 20: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26C -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26C Reference 21: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26B -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26B Reference 22: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-40 Reference 23: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/280/tableOfContent Reference 24: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26 Reference 25: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-41 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration