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Reportable Operating Segments (Tables)

6 Months Ended

Jun. 30, 2025

Reportable Operating Segments

Schedule of selected business segment financial information

Three Months Ended

Six Months Ended

June 30, 2025

June 30, 2025

Treasury

Treasury

Retail

Commercial

and

Retail

Commercial

and

(dollars in thousands)

Banking

Banking

Other

Total

Banking

Banking

Other

Total

Interest income

$

84,660

$

108,391

$

43,688

$

236,739

$

169,072

$

215,662

$

87,155

$

471,889

Intersegment interest allocations⁽¹⁾

(64,005)

(80,310)

144,315

—

(127,015)

(157,441)

284,456

—

Total interest income

20,655

28,081

188,003

236,739

42,057

58,221

371,611

471,889

Interest expense

(53,112)

(14,621)

(5,423)

(73,156)

(107,993)

(28,555)

(11,232)

(147,780)

Intersegment interest allocations ⁽¹⁾

162,702

26,008

(188,710)

—

326,063

52,344

(378,407)

—

Total interest expense

109,590

11,387

(194,133)

(73,156)

218,070

23,789

(389,639)

(147,780)

Net interest income (expense)

130,245

39,468

(6,130)

163,583

260,127

82,010

(18,028)

324,109

Provision for credit losses

(2,111)

(2,389)

—

(4,500)

(6,802)

(7,698)

(500)

(15,000)

Net interest income (expense) after provision for credit losses

128,134

37,079

(6,130)

159,083

253,325

74,312

(18,528)

309,109

Noninterest income

27,754

19,039

7,165

53,958

54,405

36,794

13,236

104,435

Salaries and employee benefits

(25,743)

(4,964)

(28,794)

(59,501)

(50,355)

(9,755)

(59,495)

(119,605)

Contracted services and professional fees

(2,919)

(4,338)

(8,740)

(15,997)

(5,972)

(8,208)

(16,656)

(30,836)

Occupancy

(7,414)

(478)

(42)

(7,934)

(14,709)

(973)

(352)

(16,034)

Equipment

(1,450)

(472)

(12,115)

(14,037)

(2,845)

(921)

(24,142)

(27,908)

Card rewards program

—

(8,406)

—

(8,406)

—

(16,325)

—

(16,325)

Other segment items ⁽²⁾

(34,850)

(1,360)

17,146

(19,064)

(71,620)

(3,607)

37,436

(37,791)

Noninterest expense

(72,376)

(20,018)

(32,545)

(124,939)

(145,501)

(39,789)

(63,209)

(248,499)

Income (loss) before (provision) benefit for income taxes

83,512

36,100

(31,510)

88,102

162,229

71,317

(68,501)

165,045

(Provision) benefit for income taxes

(15,763)

(5,330)

6,238

(14,855)

(34,537)

(12,291)

14,278

(32,550)

Net income (loss)

$

67,749

$

30,770

$

(25,272)

$

73,247

$

127,692

$

59,026

$

(54,223)

$

132,495

Other Segment Disclosures:

Depreciation and amortization ⁽³⁾

$

992

$

68

$

4,670

$

5,730

$

2,041

$

136

$

9,082

$

11,259

Segment earning assets

7,335,543

7,025,480

6,675,918

21,036,941

7,335,543

7,025,480

6,675,918

21,036,941


		Three Months Ended												Six Months Ended
		June 30, 2024												June 30, 2024
								Treasury												Treasury
		Retail			Commercial			and						Retail			Commercial			and
(dollars in thousands)		Banking			Banking			Other			Total			Banking			Banking			Other			Total
Interest income		$	83,500		$	118,017		$	43,417		$	244,934		$	167,723		$	234,792		$	87,371		$	489,886
Intersegment interest allocations⁽¹⁾			(64,333)			(85,586)			149,919			—			(126,530)			(168,825)			295,355			—
Total interest income			19,167			32,431			193,336			244,934			41,193			65,967			382,726			489,886

Interest expense			(60,700)			(18,255)			(13,128)			(92,083)			(119,072)			(33,568)			(29,968)			(182,608)
Intersegment interest allocations ⁽¹⁾			166,229			30,843			(197,072)			—			330,632			58,001			(388,633)			—
Total interest expense			105,529			12,588			(210,200)			(92,083)			211,560			24,433			(418,601)			(182,608)
Net interest income (expense)			124,696			45,019			(16,864)			152,851			252,753			90,400			(35,875)			307,278

(Provision) benefit for credit losses			(1,525)			(1,675)			1,400			(1,800)			(4,904)			(5,388)			2,192			(8,100)
Net interest income (expense) after (provision) benefit for credit losses			123,171			43,344			(15,464)			151,051			247,849			85,012			(33,683)			299,178

Noninterest income			26,296			18,623			6,849			51,768			52,331			36,581			14,227			103,139

Salaries and employee benefits			(24,874)			(4,780)			(28,083)			(57,737)			(50,112)			(9,776)			(57,111)			(116,999)
Contracted services and professional fees			(3,038)			(3,915)			(9,114)			(16,067)			(5,919)			(8,304)			(17,583)			(31,806)
Occupancy			(7,375)			(491)			489			(7,377)			(14,791)			(982)			1,455			(14,318)
Equipment			(1,303)			(233)			(11,660)			(13,196)			(2,611)			(594)			(23,404)			(26,609)
Card rewards program			—			(8,719)			—			(8,719)			—			(17,227)			—			(17,227)
Other segment items ⁽²⁾			(36,035)			(4,485)			21,530			(18,990)			(75,832)			(11,425)			43,317			(43,940)
Noninterest expense			(72,625)			(22,623)			(26,838)			(122,086)			(149,265)			(48,308)			(53,326)			(250,899)

Income (loss) before (provision) benefit for income taxes			76,842			39,344			(35,453)			80,733			150,915			73,285			(72,782)			151,418
(Provision) benefit for income taxes			(18,623)			(8,419)			8,230			(18,812)			(36,551)			(15,692)			16,966			(35,277)
Net income (loss)		$	58,219		$	30,925		$	(27,223)		$	61,921		$	114,364		$	57,593		$	(55,816)		$	116,141

Other Segment Disclosures:
Depreciation and amortization ⁽³⁾		$	1,124		$	67		$	3,717		$	4,908		$	2,259		$	135		$	7,430		$	9,824
Segment earning assets			7,438,823			6,925,612			6,852,180			21,216,615			7,438,823			6,925,612			6,852,180			21,216,615

(1)	Intersegment interest allocations are the result of funds transfer-pricing methodologies that are utilized to allocate a cost for the funding of assets and a credit for the collection of deposits to all business segment assets and liabilities.

(2)	Other segment items included in segment net income includes advertising and marketing, regulatory assessment and fees, allocations and transfer pricing on non-earning assets, liabilities and equity, and other miscellaneous and administrative fees.

(3)	The amounts of depreciation and amortization disclosed by reportable segment are included within equipment, occupancy, other segment items, and noninterest income.