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Segment Reporting
3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
Segment Reporting Segment Reporting
(In Thousands)
The Company has two reportable segments: Community Banks and Wealth Management. The Company’s reportable segments are determined by the Chief Executive Officer, who is the designated chief operating decision maker (“CODM”), based upon information provided about the Company’s products and services. The CODM evaluates the financial performance of the segments by evaluating net income as the primary measure of segment performance, as well as revenue streams, significant expenses and budget to actual results, and the CODM provides guidance in strategy and the allocation of resources.
In order to give the CODM a more precise indication of the income and expenses controlled by each segment, the results of operations for each segment reflect its own direct revenues and expenses. Indirect revenues and expenses, including but not limited to income from the Company’s investment portfolio, as well as certain costs associated with data processing and back office functions, primarily support the operations of the community banks and, therefore, are included in the results of the Community Banks segment. Included in “Other” are the operations of the holding company and other eliminations that are necessary for purposes of reconciling to the consolidated amounts. Accounting policies for each segment are the same as those described in Note 1, “Significant Accounting Policies,” in the Notes to the Consolidated Financial Statements in Item 8, Financial Statements and Supplementary Data, in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025.
The following tables provide financial information for the Company’s operating segments as of and for the periods presented:
Community
Banks
Wealth
Management
Total SegmentsOtherConsolidated
Three months ended March 31, 2026
Total interest income$338,087 $14 $338,101 $19 $338,120 
Total interest expense107,435 — 107,435 7,126 114,561 
Net interest income (loss)$230,652 $14 $230,666 $(7,107)$223,559 
Provision for credit losses8,080 — 8,080 — 8,080 
Noninterest income39,103 9,733 48,836 1,436 50,272 
Salaries and employee benefits85,671 4,900 90,571 1,178 91,749 
Net occupancy and equipment17,694 250 17,944 87 18,031 
Other segment expenses(1)
42,748 2,109 44,857 691 45,548 
Income (loss) before income taxes$115,562 $2,488 $118,050 $(7,627)$110,423 
Income tax expense (benefit)24,029 114 24,143 (1,948)22,195 
Net income (loss)$91,533 $2,374 $93,907 $(5,679)$88,228 
Total assets$27,082,801 $8,193 $27,090,994 $16,280 $27,107,274 
Goodwill1,406,667 — 1,406,667 — 1,406,667 
Community
Banks
Wealth
Management
Total SegmentsOtherConsolidated
Three months ended March 31, 2025
Total interest income$220,291 $16 $220,307 $23 $220,330 
Total interest expense79,634 — 79,634 6,499 86,133 
Net interest income (loss)$140,657 $16 $140,673 $(6,476)$134,197 
Provision for credit losses4,750 — 4,750 — 4,750 
Noninterest income (loss)28,772 8,064 36,836 (441)36,395 
Salaries and employee benefits68,139 3,818 71,957 — 71,957 
Net occupancy and equipment11,547 207 11,754 — 11,754 
Other segment expenses(2)
28,099 1,568 29,667 498 30,165 
Income (loss) before income taxes$56,894 $2,487 $59,381 $(7,415)$51,966 
Income tax expense (benefit)12,203 103 12,306 (1,858)10,448 
Net income (loss)$44,691 $2,384 $47,075 $(5,557)$41,518 
Total assets (liabilities)$18,266,553 $5,495 $18,272,048 $(667)$18,271,381 
Goodwill988,898 — 988,898 — 988,898 
(1)    Other segment expenses for Community Banks include data processing, other real estate owned, legal and professional fees, advertising and public relations, intangible amortization, communications and other miscellaneous expenses. Other segment expenses for Wealth Management include data processing, legal and professional fees, advertising and public relations, intangible amortization, communications and other miscellaneous expenses.
(2)    Other segment expenses for Community Banks include data processing, other real estate owned, legal and professional fees, advertising and public relations, intangible amortization, communications, merger and conversion related expenses and other miscellaneous expenses. Other segment expenses for Wealth Management include data processing, legal and professional fees, advertising and public relations, intangible amortization, communications and other miscellaneous expenses.