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SEGMENT REPORTING AND REVENUE | 3 Months Ended
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Mar. 31, 2025
Revenue from Contract with Customer [Abstract] |
SEGMENT REPORTING AND REVENUE | 14. SEGMENT REPORTING AND REVENUE Operating Segments ​ The Company has two reportable operating segments, Wholesale Banking and Consumer Banking, with corporate support functions and intercompany eliminations being presented within Corporate Other. ​ The following table presents and reconciles income before income taxes compared to the Consolidated Statements of Income. Income before income taxes for the three months ended March 31, 2025 and 2024 totaled $61.5 million and $59.9 million, respectively. The information is disaggregated by major source and reportable operating segment for the three months ended March 31, (dollars in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Wholesale Banking | ​ | Consumer Banking | ​ | Corporate Other | ​ | Total
2025 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest and dividend income | ​ | $ | 296,987 | ​ | $ | 156,143 | ​ | $ | (147,294) | ​ | $ | 305,836
Interest expense | ​ |  | 197,647 | ​ | ​ | 80,359 | ​ | ​ | (156,334) | ​ | ​ | 121,672
Net interest income | ​ | ​ | 99,340 | ​ | ​ | 75,784 | ​ | ​ | 9,040 | ​ | ​ | 184,164
Provision for credit losses | ​ |  | 15,045 | ​ | ​ | 2,593 | ​ | ​ | — | ​ | ​ | 17,638
Net interest income after provision for credit losses | ​ |  | 84,295 | ​ | ​ | 73,191 | ​ | ​ | 9,040 | ​ | ​ | 166,526
Noninterest income | ​ |  | 11,799 | ​ | ​ | 14,634 | ​ | ​ | 2,730 | ​ | ​ | 29,163
Noninterest expenses | ​ |  | 55,212 | ​ | ​ | 67,567 | ​ | ​ | 11,405 | ​ | ​ | 134,184
Income before income taxes | ​ | $ | 40,882 | ​ | $ | 20,258 | ​ | $ | 365 | ​ | $ | 61,505
2024 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest and dividend income | ​ | $ | 273,754 | ​ | $ | 136,018 | ​ | $ | (146,857) | ​ | $ | 262,915
Interest expense | ​ |  | 192,880 | ​ | ​ | 66,781 | ​ | ​ | (144,571) | ​ | ​ | 115,090
Net interest income | ​ | ​ | 80,874 | ​ | $ | 69,237 | ​ | $ | (2,286) | ​ | $ | 147,825
Provision for credit losses | ​ |  | 5,366 | ​ | ​ | 2,873 | ​ | ​ | — | ​ | ​ | 8,239
Net interest income after provision for credit losses | ​ |  | 75,508 | ​ | ​ | 66,364 | ​ | ​ | (2,286) | ​ | ​ | 139,586
Noninterest income | ​ |  | 8,363 | ​ | ​ | 12,615 | ​ | ​ | 4,574 | ​ | ​ | 25,552
Noninterest expenses | ​ |  | 43,955 | ​ | ​ | 55,880 | ​ | ​ | 5,438 | ​ | ​ | 105,273
Income before income taxes | ​ | $ | 39,916 | ​ | $ | 23,099 | ​ | $ | (3,150) | ​ | $ | 59,865
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​ The following table presents the Company’s operating segment results for key balance sheet metrics as of the periods ended (dollars in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Wholesale Banking | ​ | Consumer Banking | ​ | Corporate Other | ​ | Total
March 31, 2025 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
LHFI, net of deferred fees and costs (1) (2) | ​ | $ | 15,504,550 | ​ | $ | 3,039,079 | ​ | $ | (115,940) | ​ | $ | 18,427,689
Goodwill | ​ | ​ | 850,035 | ​ | ​ | 364,018 | ​ | ​ | — | ​ | ​ | 1,214,053
Deposits (3) | ​ | ​ | 7,563,827 | ​ | ​ | 11,745,647 | ​ | ​ | 1,193,400 | ​ | ​ | 20,502,874
December 31, 2024 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
LHFI, net of deferred fees and costs (1) | ​ | $ | 15,514,640 | ​ | $ | 3,085,207 | ​ | $ | (129,226) | ​ | $ | 18,470,621
Goodwill | ​ | ​ | 850,035 | ​ | ​ | 364,018 | ​ | ​ | — | ​ | ​ | 1,214,053
Deposits | ​ | ​ | 7,193,403 | ​ | ​ | 11,899,197 | ​ | ​ | 1,305,019 | ​ | ​ | 20,397,619
(1) Corporate Other includes acquisition accounting fair value adjustments. (2) Includes a reallocation of $10.3 million of LHFI from the Consumer Banking segment to the Wholesale Banking segments as part of the Company’s customer relationship annual review process. (3) Includes a reallocation of $198.2 million of deposits from the Consumer Banking segment to the Wholesale Banking segments as part of the Company’s customer relationship annual review process. ​ Revenue ​ Noninterest income disaggregated by major source for the three months ended March 31, consisted of the following (dollars in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2025 | ​ | 2024
Noninterest income: |  | ​ |  |  | ​ |
Service charges on deposit accounts (1): |  | ​ |  |  | ​ |
Overdraft fees | ​ | $ | 5,576 | ​ | $ | 4,748
Maintenance fees & other | ​ |  | 4,107 | ​ |  | 3,821
Other service charges, commissions, and fees (1) | ​ |  | 1,762 | ​ |  | 1,731
Interchange fees(1) | ​ |  | 2,949 | ​ |  | 2,294
Fiduciary and asset management fees (1): | ​ |  | ​ | ​ |  | ​
Trust asset management fees | ​ |  | 3,826 | ​ |  | 3,356
Brokerage management fees | ​ |  | 2,871 | ​ |  | 1,482
Mortgage banking income | ​ |  | 973 | ​ |  | 867
(Loss) gain on sale of securities | ​ | ​ | (102) | ​ | ​ | 3
Bank owned life insurance income | ​ |  | 3,537 | ​ |  | 3,245
Loan-related interest rate swap fees | ​ |  | 2,400 | ​ |  | 1,216
Other operating income | ​ |  | 1,264 | ​ |  | 2,789
Total noninterest income | ​ | $ | 29,163 | ​ | $ | 25,552
(1) Income within scope of ASC 606, Revenue from Contracts with Customers. ​ The following tables present noninterest income disaggregated by reportable operating segment for the three months ended March 31, (dollars in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | Wholesale Banking | ​ | Consumer Banking | ​ | Corporate Other (1) | ​ | Total
2025 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Noninterest income: | ​ |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Service charges on deposit accounts | ​ | ​ | $ | 3,010 | ​ | $ | 6,673 | ​ | $ | — | ​ | $ | 9,683
Other service charges, commissions and fees | ​ | ​ | ​ | 396 | ​ | ​ | 1,366 | ​ | ​ | — | ​ | ​ | 1,762
Fiduciary and asset management fees | ​ | ​ | ​ | 4,771 | ​ | ​ | 1,926 | ​ | ​ | — | ​ | ​ | 6,697
Mortgage banking income | ​ | ​ | ​ | — | ​ | ​ | 973 | ​ | ​ | — | ​ | ​ | 973
Other income | ​ | ​ | ​ | 3,622 | ​ | ​ | 3,696 | ​ | ​ | 2,730 | ​ | ​ | 10,048
Total noninterest income | ​ | ​ | $ | 11,799 | ​ | $ | 14,634 | ​ | $ | 2,730 | ​ | $ | 29,163
2024 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Noninterest income: | ​ |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Service charges on deposit accounts | ​ | ​ | $ | 2,611 | ​ | $ | 5,958 | ​ | $ | — | ​ | $ | 8,569
Other service charges, commissions and fees | ​ | ​ | ​ | 396 | ​ | ​ | 1,335 | ​ | ​ | — | ​ | ​ | 1,731
Fiduciary and asset management fees | ​ | ​ | ​ | 3,286 | ​ | ​ | 1,552 | ​ | ​ | — | ​ | ​ | 4,838
Mortgage banking income | ​ | ​ | ​ | — | ​ | ​ | 867 | ​ | ​ | — | ​ | ​ | 867
Other income | ​ | ​ | ​ | 2,070 | ​ | ​ | 2,903 | ​ | ​ | 4,574 | ​ | ​ | 9,547
Total noninterest income | ​ | ​ | $ | 8,363 | ​ | $ | 12,615 | ​ | $ | 4,574 | ​ | $ | 25,552
(1) For the three months ended March 31, 2025 and 2024, other income primarily includes income from BOLI and equity method investment income. ​
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​ ​ The following tables present noninterest expense disaggregated by reportable operating segment for the three months ended March 31, (dollars in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Wholesale Banking | ​ | Consumer Banking | ​ | Corporate Other | ​ | Total
2025 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Noninterest expenses: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Salaries and benefits | ​ | $ | 20,684 | ​ | $ | 19,936 | ​ | $ | 34,795 | ​ | $ | 75,415
Occupancy expenses | ​ | ​ | 236 | ​ | ​ | 5,166 | ​ | ​ | 3,178 | ​ | ​ | 8,580
Furniture and equipment expenses | ​ | ​ | 62 | ​ | ​ | 994 | ​ | ​ | 2,858 | ​ | ​ | 3,914
Loan-related expenses | ​ | ​ | 113 | ​ | ​ | 774 | ​ | ​ | 362 | ​ | ​ | 1,249
Other expenses (1) | ​ | ​ | 34,117 | ​ | ​ | 40,697 | ​ | ​ | (29,788) | ​ | ​ | 45,026
Total noninterest expense | ​ | $ | 55,212 | ​ | $ | 67,567 | ​ | $ | 11,405 | ​ | $ | 134,184
2024 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Noninterest expenses: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Salaries and benefits | ​ | $ | 16,434 | ​ | $ | 16,273 | ​ | $ | 29,175 | ​ | $ | 61,882
Occupancy expenses | ​ | ​ | 222 | ​ | ​ | 3,953 | ​ | ​ | 2,450 | ​ | ​ | 6,625
Furniture and equipment expenses | ​ | ​ | 38 | ​ | ​ | 776 | ​ | ​ | 2,495 | ​ | ​ | 3,309
Loan-related expenses | ​ | ​ | 212 | ​ | ​ | 748 | ​ | ​ | 363 | ​ | ​ | 1,323
Other expenses (1) | ​ | ​ | 27,049 | ​ | ​ | 34,130 | ​ | ​ | (29,045) | ​ | ​ | 32,134
Total noninterest expense | ​ | $ | 43,955 | ​ | $ | 55,880 | ​ | $ | 5,438 | ​ | $ | 105,273
(1) Includes allocated expenses ​

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