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Reportable Operating Segments (Tables)

9 Months Ended

Sep. 30, 2025

Reportable Operating Segments

Schedule of selected business segment financial information

Three Months Ended

Nine Months Ended

September 30, 2025

September 30, 2025

Treasury

Treasury

Retail

Commercial

and

Retail

Commercial

and

(dollars in thousands)

Banking

Banking

Other

Total

Banking

Banking

Other

Total

Interest income

$

83,715

$

112,442

$

46,418

$

242,575

$

246,065

$

334,822

$

133,577

$

714,464

Intersegment interest allocations⁽¹⁾

(61,737)

(82,678)

144,415

—

(183,186)

(245,681)

428,867

—

Total interest income

21,978

29,764

190,833

242,575

62,879

89,141

562,444

714,464

Interest expense

(49,893)

(17,812)

(5,539)

(73,244)

(152,773)

(51,138)

(17,113)

(221,024)

Intersegment interest allocations ⁽¹⁾

159,705

32,302

(192,007)

—

475,188

94,816

(570,004)

—

Total interest expense

109,812

14,490

(197,546)

(73,244)

322,415

43,678

(587,117)

(221,024)

Net interest income (expense)

131,790

44,254

(6,713)

169,331

385,294

132,819

(24,673)

493,440

Provision for credit losses

(774)

(876)

(2,850)

(4,500)

(7,576)

(8,574)

(3,350)

(19,500)

Net interest income (expense) after provision for credit losses

131,016

43,378

(9,563)

164,831

377,718

124,245

(28,023)

473,940

Noninterest income

28,512

21,074

7,474

57,060

82,917

57,868

20,710

161,495

Salaries and employee benefits

(24,150)

(4,482)

(32,901)

(61,533)

(74,505)

(14,237)

(92,396)

(181,138)

Contracted services and professional fees

(2,763)

(4,517)

(8,505)

(15,785)

(8,735)

(12,725)

(25,161)

(46,621)

Occupancy

(7,725)

(486)

1,113

(7,098)

(22,434)

(1,459)

761

(23,132)

Equipment

(1,305)

(466)

(12,063)

(13,834)

(4,150)

(1,387)

(36,205)

(41,742)

Card rewards program

—

(8,694)

—

(8,694)

—

(25,019)

—

(25,019)

Other segment items ⁽²⁾

(35,621)

(2,006)

18,827

(18,800)

(107,241)

(5,613)

56,263

(56,591)

Noninterest expense

(71,564)

(20,651)

(33,529)

(125,744)

(217,065)

(60,440)

(96,738)

(374,243)

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

87,964

43,801

(35,618)

96,147

243,570

121,673

(104,051)

261,192

(Provision) benefit for income taxes

(21,381)

(9,237)

8,311

(22,307)

(54,132)

(23,296)

22,571

(54,857)

Net income (loss)

$

66,583

$

34,564

$

(27,307)

$

73,840

$

189,438

$

98,377

$

(81,480)

$

206,335

Other Segment Disclosures:

Depreciation and amortization ⁽³⁾

$

1,003

$

66

$

3,872

$

4,941

$

3,044

$

202

$

12,954

$

16,200

Segment earning assets

7,098,572

7,036,472

7,207,503

21,342,547

7,098,572

7,036,472

7,207,503

21,342,547


		Three Months Ended												Nine Months Ended
		September 30, 2024												September 30, 2024
								Treasury												Treasury
		Retail			Commercial			and						Retail			Commercial			and
(dollars in thousands)		Banking			Banking			Other			Total			Banking			Banking			Other			Total
Interest income		$	80,967		$	124,105		$	44,924		$	249,996		$	241,201		$	366,381		$	132,300		$	739,882
Intersegment interest allocations⁽¹⁾			(62,209)			(89,021)			151,230			—			(182,490)			(264,089)			446,579			—
Total interest income			18,758			35,084			196,154			249,996			58,711			102,292			578,879			739,882

Interest expense			(61,008)			(20,955)			(11,326)			(93,289)			(175,119)			(59,462)			(41,316)			(275,897)
Intersegment interest allocations ⁽¹⁾			164,982			36,694			(201,676)			—			484,627			105,654			(590,281)			—
Total interest expense			103,974			15,739			(213,002)			(93,289)			309,508			46,192			(631,597)			(275,897)
Net interest income (expense)			122,732			50,823			(16,848)			156,707			368,219			148,484			(52,718)			463,985

(Provision) benefit for credit losses			(3,390)			(3,726)			(284)			(7,400)			(8,294)			(9,114)			1,908			(15,500)
Net interest income (expense) after (provision) benefit for credit losses			119,342			47,097			(17,132)			149,307			359,925			139,370			(50,810)			448,485

Noninterest income			26,585			21,666			5,037			53,288			78,916			58,247			19,264			156,427

Salaries and employee benefits			(24,291)			(4,727)			(30,545)			(59,563)			(74,403)			(14,503)			(87,656)			(176,562)
Contracted services and professional fees			(2,754)			(3,982)			(7,898)			(14,634)			(8,673)			(12,286)			(25,481)			(46,440)
Occupancy			(7,381)			(488)			924			(6,945)			(22,172)			(1,470)			2,379			(21,263)
Equipment			(1,368)			(319)			(11,391)			(13,078)			(3,979)			(913)			(34,795)			(39,687)
Card rewards program			—			(8,678)			—			(8,678)			—			(25,905)			—			(25,905)
Other segment items ⁽²⁾			(37,222)			(3,497)			17,470			(23,249)			(113,054)			(14,922)			60,787			(67,189)
Noninterest expense			(73,016)			(21,691)			(31,440)			(126,147)			(222,281)			(69,999)			(84,766)			(377,046)

Income (loss) before (provision) benefit for income taxes			72,911			47,072			(43,535)			76,448			216,560			127,618			(116,312)			227,866
(Provision) benefit for income taxes			(17,558)			(10,285)			12,887			(14,956)			(52,171)			(27,914)			29,852			(50,233)
Net income (loss)		$	55,353		$	36,787		$	(30,648)		$	61,492		$	164,389		$	99,704		$	(86,460)		$	177,633

Other Segment Disclosures:
Depreciation and amortization ⁽³⁾		$	1,116		$	67		$	3,597		$	4,780		$	3,376		$	202		$	11,027		$	14,605
Segment earning assets			7,125,507			7,120,187			6,763,095			21,008,789			7,125,507			7,120,187			6,763,095			21,008,789

(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.