Document

This Supplemental Financial Information contains certain financial measures that are not measures recognized under U.S. generally accepted accounting principles (“GAAP”) and therefore are considered non-GAAP financial measures. These non-GAAP financial measures may include, without limitation, adjusted net income, adjusted diluted earnings per common share, adjusted and unadjusted pre-tax pre-provision earnings, core revenue, core noninterest expense and core noninterest income, core efficiency ratio (tax equivalent basis), adjusted Banking segment pre-tax, pre-provision earnings, Banking segment core noninterest income, Mortgage segment core noninterest income, Banking segment core noninterest expense, Banking segment core revenue, Mortgage segment core revenue, Banking segment core efficiency ratio (tax equivalent basis), Mortgage segment core efficiency ratio (tax equivalent basis), adjusted return on average assets and equity, and adjusted pre-tax pre-provision return on average assets and equity. Each of these non-GAAP metrics excludes certain income and expense items that the Company’s management considers to be non-core/adjusted in nature. The Company also includes an adjusted allowance for credit losses, adjusted loans held for investment, and adjusted allowance for credit losses to loans held for investment, which all exclude the impact of PPP loans. The Company refers to these non-GAAP measures as adjusted (or core) measures. Also, the Company presents tangible assets, tangible common equity, adjusted tangible common equity, tangible book value per common share, adjusted tangible book value per common share, tangible common equity to tangible assets, return on average tangible common equity, adjusted return on average tangible common equity, and adjusted pre-tax pre-provision return on average tangible common equity. Each of these non-GAAP metrics excludes the impact of goodwill and other intangibles. Adjusted tangible common equity and adjusted tangible book value also exclude the impact of net accumulated other comprehensive (loss) income.

The Company’s management uses these non-GAAP financial measures in their analysis of the Company’s performance, financial condition and the efficiency of its operations as management believes such measures facilitate period-to-period comparisons and provide meaningful indications of its operating performance as they eliminate both gains and charges that management views as non-recurring or not indicative of operating performance. Management believes that these non-GAAP financial measures provide a greater understanding of ongoing operations and enhance comparability of results with prior periods as well as demonstrate the effects of significant non-core gains and charges in the current and prior periods. The Company’s management also believes that investors find these non-GAAP financial measures useful as they assist investors in understanding the Company’s underlying operating performance and in the analysis of ongoing operating trends. In addition, because intangible assets such as goodwill and other intangibles, and the other items excluded each vary extensively from company to company, the Company believes that the presentation of this information allows investors to more easily compare the Company’s results to the results of other companies. However, the non-GAAP financial measures discussed herein should not be considered in isolation or as a substitute for the most directly comparable or other financial measures calculated in accordance with GAAP. Moreover, the manner in which the Company calculates the non-GAAP financial measures discussed herein may differ from that of other companies reporting measures with similar names. Investors should understand how such other banking organizations calculate their financial measures similar or with names similar to the non-GAAP financial measures the Company has discussed herein when comparing such non-GAAP financial measures. See the corresponding non-GAAP reconciliation tables in this Supplemental Financial Information dated April 18, 2022, for additional discussion and reconciliation of these measures to the most directly comparable GAAP financial measures.


Financial Summary and Key Metrics
(Unaudited)
(In Thousands, Except Share Data and %)
	2022			2021
	First Quarter			Fourth Quarter			Third Quarter			Second Quarter			First Quarter
Statement of Income Data
Total interest income	$	95,127		$	97,219		$	96,665		$	96,329		$	94,785
Total interest expense	6,945			7,464			8,189			9,766			12,209
Net interest income	88,182			89,755			88,476			86,563			82,576
Total noninterest income	41,392			53,219			59,006			49,300			66,730
Total noninterest expense	89,272			90,902			95,007			92,960			94,698
Earnings before income taxes and provisions for credit losses	40,302			52,072			52,475			42,903			54,608
Provisions for credit losses	(4,247)			(10,769)			(2,531)			(13,839)			(13,854)
Income tax expense	9,313			14,006			9,716			13,440			15,588
Net income applicable to noncontrolling interest	—			8			—			8			—
Net income applicable to FB Financial Corporation(c)	$	35,236		$	48,827		$	45,290		$	43,294		$	52,874
Net interest income (tax-equivalent basis)	$	88,932		$	90,537		$	89,230		$	87,321		$	83,368
Adjusted net income*	$	35,365		$	42,551		$	42,699		$	42,317		$	53,505
Adjusted pre-tax, pre-provision earnings*	$	40,476		$	43,573		$	51,240		$	41,357		$	55,461
Per Common Share
Diluted net income	$	0.74		$	1.02		$	0.94		$	0.90		$	1.10
Adjusted diluted net income*	0.74			0.89			0.89			0.88			1.12

Book value	29.06			30.13			29.36			28.96			28.08
Tangible book value*	23.62			24.67			23.90			23.43			22.51
Adjusted tangible book value*	25.12			24.55			23.63			23.04			22.17
Weighted average number of shares outstanding - fully diluted	47,723,902			47,896,715			48,007,147			47,993,773			47,969,106
Period-end number of shares	47,487,874			47,549,241			47,707,634			47,360,950			47,331,680
Selected Balance Sheet Data
Cash and cash equivalents	$	1,743,311		$	1,797,740		$	1,324,564		$	1,717,097		$	1,895,133
Loans held for investment (HFI)	8,004,976			7,604,662			7,294,674			7,198,954			7,047,342
Allowance for credit losses(a)	(120,049)			(125,559)			(139,446)			(144,663)			(157,954)
Mortgage loans held for sale	318,549			672,924			755,210			697,407			834,779
Commercial loans held for sale	78,179			79,299			100,496			124,122			174,983
Investment securities, at fair value	1,686,738			1,681,892			1,577,337			1,409,175			1,229,845
Other real estate owned, net	9,721			9,777			10,015			11,986			11,177
Total assets	12,674,191			12,597,686			11,810,290			11,918,367			11,935,826
Customer deposits	10,987,861			10,809,410			10,043,901			10,163,056			10,219,173
Brokered and internet time deposits	8,417			27,487			28,017			40,900			37,713
Total deposits	10,996,278			10,836,897			10,071,918			10,203,956			10,256,886
Borrowings	155,733			171,778			172,710			183,962			180,179
Total common shareholders' equity	1,379,776			1,432,602			1,400,913			1,371,721			1,329,103
Selected Ratios
Return on average:
Assets	1.13		%	1.60		%	1.51		%	1.46		%	1.86		%
Shareholders' equity	10.1		%	13.7		%	12.9		%	13.0		%	16.5		%
Tangible common equity*	12.4		%	16.8		%	15.9		%	16.1		%	20.6		%
Average shareholders' equity to average assets	11.2		%	11.7		%	11.7		%	11.3		%	11.3		%
Net interest margin (NIM) (tax-equivalent basis)	3.04		%	3.19		%	3.20		%	3.18		%	3.19		%
Efficiency ratio (GAAP)	68.9		%	63.6		%	64.4		%	68.4		%	63.4		%
Core efficiency ratio (tax-equivalent basis)*	68.1		%	67.0		%	64.7		%	68.9		%	63.0		%
Loans HFI to deposit ratio	72.8		%	70.2		%	72.4		%	70.6		%	68.7		%
Total loans to deposit ratio	76.4		%	77.1		%	80.9		%	78.6		%	78.6		%
Yield on interest-earning assets	3.28		%	3.45		%	3.49		%	3.53		%	3.66		%
Cost of interest-bearing liabilities	0.34		%	0.38		%	0.42		%	0.49		%	0.65		%
Cost of total deposits	0.20		%	0.22		%	0.26		%	0.31		%	0.41		%
Credit Quality Ratios
Allowance for credit losses as a percentage of loans HFI(a)	1.50		%	1.65		%	1.91		%	2.01		%	2.24		%
Adjusted allowance for credit losses as a percentage of loans HFI*(a)	1.50		%	1.65		%	1.91		%	2.03		%	2.29		%
Net (recoveries) charge-offs as a percentage of average loans HFI	(0.03)		%	0.12		%	0.13		%	0.02		%	0.05		%
Nonperforming loans HFI as a percentage of total loans HFI	0.51		%	0.62		%	0.59		%	0.83		%	0.94		%
Nonperforming assets as a percentage of total assets	0.44		%	0.50		%	0.50		%	0.66		%	0.77		%
Preliminary capital ratios (Consolidated)
Total common shareholders' equity to assets	10.9		%	11.4		%	11.9		%	11.5		%	11.1		%
Tangible common equity to tangible assets*	9.03		%	9.51		%	9.87		%	9.52		%	9.13		%
Tier 1 capital (to average assets)	10.2		%	10.5		%	10.4		%	10.1		%	10.1		%
Tier 1 capital (to risk-weighted assets)(b)	12.3		%	12.6		%	12.7		%	12.7		%	12.3		%
Total capital (to risk-weighted assets)(b)	14.2		%	14.5		%	14.6		%	14.9		%	14.6		%
Common equity Tier 1 (to risk-weighted assets) (CET1)(b)	12.0		%	12.3		%	12.4		%	12.4		%	12.0		%


Consolidated Statements of Income
(Unaudited)
(In Thousands, Except Share Data and %)
													Q1 2022		Q1 2022
													vs.		vs.
	2022		2021								Q4 2021	Q1 2021
	First Quarter		Fourth Quarter		Third Quarter		Second Quarter		First Quarter				Percent variance		Percent variance
Interest income:
Interest and fees on loans	$	86,864	$	89,996	$	89,993	$	89,861	$	89,412			(3.48)	%	(2.85)	%
Interest on securities
Taxable	5,420		4,534		3,989		3,844		2,819				19.5	%	92.3	%
Tax-exempt	1,866		1,885		1,883		1,933		1,956				(1.01)	%	(4.60)	%
Other	977		804		800		691		598				21.5	%	63.4	%
Total interest income	95,127		97,219		96,665		96,329		94,785				(2.15)	%	0.36	%
Interest expense:
Deposits	5,462		5,848		6,596		7,919		9,826				(6.60)	%	(44.4)	%
Borrowings	1,483		1,616		1,593		1,847		2,383				(8.23)	%	(37.8)	%
Total interest expense	6,945		7,464		8,189		9,766		12,209				(6.95)	%	(43.1)	%
Net interest income	88,182		89,755		88,476		86,563		82,576				(1.75)	%	6.79	%
Provision for credit losses	(6,129)		(11,646)		(2,832)		(12,885)		(11,632)				(47.4)	%	(47.3)	%
Provision for credit losses on unfunded commitments	1,882		877		301		(954)		(2,222)				114.6	%	(184.7)	%
Net interest income after provisions for credit losses	92,429		100,524		91,007		100,402		96,430				(8.05)	%	(4.15)	%
Noninterest income:
Mortgage banking income	29,531		31,350		45,384		35,499		55,332				(5.80)	%	(46.6)	%
Service charges on deposit accounts	2,914		2,817		2,612		2,266		2,339				3.44	%	24.6	%
ATM and interchange fees	5,087		5,310		4,868		5,381		4,341				(4.20)	%	17.2	%
Investment services and trust income	2,132		1,040		2,511		2,999		2,008				105.0	%	6.2	%
(Loss) gain from securities, net	(152)		46		51		144		83				(430.4)	%	(283.1)	%
(Loss) gain on sales or write-downs of other real estate owned	(498)		26		2,005		(23)		496				(2,015.4)	%	(200.4)	%
Gain (loss) from other assets	64		161		177		(4)		(11)				(60.2)	%	(681.8)	%
Other income	2,314		12,469		1,398		3,038		2,142				(81.4)	%	8.0	%
Total noninterest income	41,392		53,219		59,006		49,300		66,730				(22.2)	%	(38.0)	%
Total revenue	129,574		142,974		147,482		135,863		149,306				(9.37)	%	(13.2)	%
Noninterest expenses:
Salaries, commissions and employee benefits	59,443		58,562		62,818		62,367		64,571				1.50	%	(7.94)	%
Occupancy and equipment expense	5,403		5,549		5,979		5,356		5,849				(2.63)	%	(7.63)	%
Legal and professional fees	2,607		2,460		2,177		2,090		2,434				5.98	%	7.11	%
Data processing	2,481		2,531		2,595		2,542		2,319				(1.98)	%	6.99	%

Amortization of core deposits and other intangibles	1,244		1,295		1,344		1,394		1,440				(3.94)	%	(13.6)	%


Advertising	4,033		3,909		4,200		3,559		2,253				3.17	%	79.0	%

Other expense	14,061		16,596		15,894		15,652		15,832				(15.3)	%	(11.2)	%
Total noninterest expense	89,272		90,902		95,007		92,960		94,698				(1.79)	%	(5.73)	%
Income before income taxes	44,549		62,841		55,006		56,742		68,462				(29.1)	%	(34.9)	%
Income tax expense	9,313		14,006		9,716		13,440		15,588				(33.5)	%	(40.3)	%
Net income applicable to FB Financial Corporation and noncontrolling interest	35,236		48,835		45,290		43,302		52,874				(27.8)	%	(33.4)	%
Net income applicable to noncontrolling interest	—		8		—		8		—				(100.0)	%	—	%

Net income applicable to FB Financial Corporation	$	35,236	$	48,827	$	45,290	$	43,294	$	52,874			(27.8)	%	(33.4)	%
Weighted average common shares outstanding:
Basic	47,530,520		47,683,682		47,412,214		47,351,969		47,278,865				(0.32)	%	0.53	%
Fully diluted	47,723,902		47,896,715		48,007,147		47,993,773		47,969,106				(0.36)	%	(0.51)	%
Earnings per common share:
Basic	$	0.74	$	1.02	$	0.96	$	0.91	$	1.12			(27.5)	%	(33.9)	%
Fully diluted	0.74		1.02		0.94		0.90		1.10				(27.5)	%	(32.7)	%
Fully diluted - adjusted*	0.74		0.89		0.89		0.88		1.12				(16.9)	%	(33.9)	%


Consolidated Balance Sheets
(Unaudited)
(In Thousands, Except %)

													Annualized
													Q1 2022		Q1 2022
													vs.		vs.
	2022		2021								Q4 2021	Q1 2021
	First Quarter		Fourth Quarter		Third Quarter		Second Quarter		First Quarter				Percent variance		Percent variance
ASSETS
Cash and due from banks	$	61,637	$	91,333	$	100,568	$	60,908	$	206,250			(131.9)	%	(70.1)	%
Federal funds sold and reverse repurchase agreements	134,763		128,087		145,333		59,321		104,153				21.1	%	29.4	%
Interest-bearing deposits in financial institutions	1,546,911		1,578,320		1,078,663		1,596,868		1,584,730				(8.07)	%	(2.39)	%
Cash and cash equivalents	1,743,311		1,797,740		1,324,564		1,717,097		1,895,133				(12.3)	%	(8.01)	%
Investments:
Available-for-sale debt securities, at fair value	1,683,525		1,678,525		1,572,558		1,404,372		1,225,178				1.21	%	37.4	%
Equity securities, at fair value	3,213		3,367		4,779		4,803		4,667				(18.5)	%	(31.2)	%
Federal Home Loan Bank stock, at cost	34,433		32,217		27,601		29,411		31,757				27.9	%	8.43	%
Mortgage loans held for sale, at fair value	318,549		672,924		755,210		697,407		834,779				(213.6)	%	(61.8)	%
Commercial loans held for sale, at fair value	78,179		79,299		100,496		124,122		174,983				(5.73)	%	(55.3)	%
Loans held for investment	8,004,976		7,604,662		7,294,674		7,198,954		7,047,342				21.3	%	13.6	%
Less: allowance for credit losses	120,049		125,559		139,446		144,663		157,954				(17.8)	%	(24.0)	%
Net loans	7,884,927		7,479,103		7,155,228		7,054,291		6,889,388				22.0	%	14.5	%
Premises and equipment, net	142,550		143,739		144,737		142,596		143,467				(3.35)	%	(0.64)	%
Other real estate owned, net	9,721		9,777		10,015		11,986		11,177				(2.32)	%	(13.0)	%
Operating lease right-of-use assets	41,037		41,686		44,006		45,423		48,453				(6.31)	%	(15.3)	%
Interest receivable	39,069		38,528		41,393		42,083		44,393				5.69	%	(12.0)	%
Mortgage servicing rights, at fair value	144,675		115,512		110,591		101,615		104,192				102.4	%	38.9	%
Goodwill	242,561		242,561		242,561		242,561		242,561				—	%	—	%
Core deposit and other intangibles, net	15,709		16,953		18,248		19,592		20,986				(29.8)	%	(25.1)	%
Bank-owned life insurance	74,232		73,519		73,122		72,760		72,369				3.93	%	2.57	%
Other assets	218,500		172,236		185,181		208,248		192,343				108.9	%	13.6	%
Total assets	$	12,674,191	$	12,597,686	$	11,810,290	$	11,918,367	$	11,935,826			2.46	%	6.19	%
LIABILITIES AND SHAREHOLDERS' EQUITY
Liabilities:
Deposits
Noninterest-bearing	$	2,787,698	$	2,740,214	$	2,609,569	$	2,484,982	$	2,431,077			7.03	%	14.7	%
Interest-bearing checking	3,639,779		3,418,666		2,850,795		3,015,253		3,097,648				26.2	%	17.5	%
Money market and savings	3,513,485		3,546,936		3,424,065		3,421,281		3,347,731				(3.82)	%	4.95	%
Customer time deposits	1,046,899		1,103,594		1,159,472		1,241,540		1,342,717				(20.8)	%	(22.0)	%
Brokered and internet time deposits	8,417		27,487		28,017		40,900		37,713				(281.4)	%	(77.7)	%
Total deposits	10,996,278		10,836,897		10,071,918		10,203,956		10,256,886				5.96	%	7.21	%
Borrowings	155,733		171,778		172,710		183,962		180,179				(37.9)	%	(13.6)	%
Operating lease liabilities	45,528		46,367		48,875		50,396		54,232				(7.34)	%	(16.0)	%
Accrued expenses and other liabilities	96,783		109,949		115,781		108,239		115,333				(48.6)	%	(16.1)	%
Total liabilities	11,294,322		11,164,991		10,409,284		10,546,553		10,606,630				4.70	%	6.48	%
Shareholders' equity:
Common stock, $1 par value	47,488		47,549		47,708		47,361		47,332				(0.52)	%	0.33	%
Additional paid-in capital	888,168		892,529		897,428		902,782		900,521				(1.98)	%	(1.37)	%
Retained earnings	515,664		486,666		443,140		403,173		365,192				24.2	%	41.2	%
Accumulated other comprehensive (loss) income, net	(71,544)		5,858		12,637		18,405		16,058				(5,358.6)	%	(545.5)	%
Total common shareholders' equity	1,379,776		1,432,602		1,400,913		1,371,721		1,329,103				(15.0)	%	3.81	%
Noncontrolling interest	93		93		93		93		93				—	%	—	%
Total equity	1,379,869		1,432,695		1,401,006		1,371,814		1,329,196				(15.0)	%	3.81	%
Total liabilities and shareholders' equity	$	12,674,191	$	12,597,686	$	11,810,290	$	11,918,367	$	11,935,826			2.46	%	6.19	%


Average Balance, Average Yield Earned and Average Rate Paid
For the Quarters Ended
(Unaudited)
(In Thousands, Except %)
	Three Months Ended						Three Months Ended
	March 31, 2022						December 31, 2021
	Average balances		Interest income/ expense		Average yield/ rate		Average balances		Interest income/ expense		Average yield/ rate
Interest-earning assets:
Loans HFI(a)(d)	$	7,762,566	$	82,463	4.31	%	$	7,452,342	$	84,315	4.49	%
Mortgage loans held for sale(b)	470,005		3,566		3.08	%	700,044		4,765		2.70	%
Commercial loans held for sale	78,567		928		4.79	%	87,568		1,033		4.68	%
Securities:(b)
Taxable	1,380,897		5,420		1.59	%	1,270,749		4,534		1.42	%
Tax-exempt(a)	318,849		2,523		3.21	%	318,579		2,550		3.18	%
Total securities(a)	1,699,746		7,943		1.90	%	1,589,328		7,084		1.77	%
Federal funds sold and reverse repurchase agreements	206,829		192		0.38	%	129,379		183		0.56	%
Interest-bearing deposits with other financial institutions	1,599,991		638		0.16	%	1,280,183		479		0.15	%
FHLB stock	32,894		147		1.81	%	28,525		142		1.98	%
Total interest-earning assets(a)	11,850,598		95,877		3.28	%	11,267,369		98,001		3.45	%
Noninterest-earning assets:
Cash and due from banks	93,419						102,398
Allowance for credit losses	(125,980)						(139,684)
Other assets	823,452						855,734
Total noninterest-earning assets	790,891						818,448
Total assets	$	12,641,489					$	12,085,817
Interest-bearing liabilities:
Interest-bearing deposits:
Interest-bearing checking	$	3,559,755	$	2,457	0.28	%	$	2,983,741	$	2,169	0.29	%
Money market(e)	3,017,746		1,572		0.21	%	3,017,574		2,053		0.27	%
Savings deposits	487,945		64		0.05	%	463,002		63		0.05	%
Customer time deposits(e)	1,077,386		1,320		0.50	%	1,123,955		1,492		0.53	%
Brokered and internet time deposits(e)	16,065		49		1.24	%	27,812		71		1.01	%
Time deposits	1,093,451		1,369		0.51	%	1,151,767		1,563		0.54	%
Total interest-bearing deposits	8,158,897		5,462		0.27	%	7,616,084		5,848		0.30	%
Other interest-bearing liabilities:
Securities sold under agreements to repurchase and federal funds purchased	30,056		14		0.19	%	41,338		21		0.20	%

Subordinated debt	129,578		1,460		4.57	%	129,493		1,591		4.87	%
Other borrowings	1,502		9		2.43	%	1,525		4		1.04	%
Total other interest-bearing liabilities	161,136		1,483		3.73	%	172,356		1,616		3.72	%
Total interest-bearing liabilities	8,320,033		6,945		0.34	%	7,788,440		7,464		0.38	%
Noninterest-bearing liabilities:
Demand deposits	2,767,087						2,747,394
Other liabilities	138,291						137,903
Total noninterest-bearing liabilities	2,905,378						2,885,297
Total liabilities	11,225,411						10,673,737
Total common shareholders' equity	1,415,985						1,411,987
Noncontrolling interest	93						93
Total equity	1,416,078						1,412,080
Total liabilities and shareholders' equity	$	12,641,489					$	12,085,817
Net interest income(a)			$	88,932					$	90,537
Interest rate spread(a)					2.94	%					3.07	%
Net interest margin(a)					3.04	%					3.19	%
Cost of total deposits					0.20	%					0.22	%
Average interest-earning assets to average interest-bearing liabilities					142.4	%					144.7	%
Tax-equivalent adjustment			$	750					$	782
Loans HFI yield components:
Contractual interest rate(a)(c)			$	79,430	4.15	%			$	78,324	4.17	%
Origination and other loan fee income(c)			4,982		0.26	%			6,084		0.33	%
Amortization on purchased loans			(2,352)		(0.12)	%			(726)		(0.04)	%
Nonaccrual interest			403		0.02	%			633		0.03	%

Total loans HFI yield			$	82,463	4.31	%			$	84,315	4.49	%


Average Balance, Average Yield Earned and Average Rate Paid (continued)
For the Quarters Ended
(Unaudited)
(In Thousands, Except %)
	Three Months Ended						Three Months Ended						Three Months Ended
	September 30, 2021						June 30, 2021						March 31, 2021
	Average balances		Interest income/ expense		Average yield/ rate		Average balances		Interest income/ expense		Average yield/ rate		Average balances		Interest income/ expense		Average yield/ rate
Interest-earning assets:
Loans HFI(a)(d)	$	7,245,313	$	84,115	4.61	%	$	7,085,300	$	83,364	4.72	%	$	7,000,416	$	83,067	4.81	%
Mortgage loans held for sale(b)	709,654		4,687		2.62	%	726,782		4,948		2.73	%	648,054		4,290		2.68	%
Commercial loans held for sale	108,863		1,282		4.67	%	152,699		1,626		4.27	%	197,820		2,157		4.42	%
Securities:(b)
Taxable	1,117,647		3,989		1.42	%	976,170		3,844		1.58	%	830,686		2,819		1.38	%
Tax-exempt(a)	311,151		2,546		3.25	%	323,902		2,614		3.24	%	334,303		2,646		3.21	%
Total securities(a)	1,428,798		6,535		1.81	%	1,300,072		6,458		1.99	%	1,164,989		5,465		1.90	%
Federal funds sold	145,315		135		0.37	%	106,257		41		0.15	%	133,813		20		0.06	%
Interest-bearing deposits with other financial institutions	1,404,772		508		0.14	%	1,614,106		494		0.12	%	1,427,184		421		0.12	%
FHLB stock	28,422		157		2.19	%	31,731		156		1.97	%	31,461		157		2.02	%
Total interest-earning assets(a)	11,071,137		97,419		3.49	%	11,016,947		97,087		3.53	%	10,603,737		95,557		3.66	%
Noninterest-earning assets:
Cash and due from banks	107,263						134,501						172,756
Allowance for credit losses	(144,652)						(157,990)						(171,380)
Other assets	881,314						906,992						903,670
Total noninterest-earning assets	843,925						883,503						905,046
Total assets	$	11,915,062					$	11,900,450					$	11,508,783
Interest-bearing liabilities:
Interest-bearing deposits:
Interest-bearing checking	$	2,937,273	$	2,298	0.31	%	$	3,027,435	$	2,689	0.36	%	$	2,746,355	$	3,018	0.45	%
Money market(e)	2,997,595		2,322		0.31	%	2,960,264		2,816		0.38	%	2,917,856		3,615		0.50	%
Savings deposits	439,470		60		0.05	%	411,711		57		0.06	%	369,600		53		0.06	%
Customer time deposits(e)	1,200,760		1,840		0.61	%	1,291,125		2,016		0.63	%	1,365,570		3,036		0.90	%
Brokered and internet time deposits(e)	32,009		76		0.94	%	39,860		341		3.43	%	49,764		104		0.85	%
Time deposits	1,232,769		1,916		0.62	%	1,330,985		2,357		0.71	%	1,415,334		3,140		0.90	%
Total interest-bearing deposits	7,607,107		6,596		0.34	%	7,730,395		7,919		0.41	%	7,449,145		9,826		0.53	%
Other interest-bearing liabilities:
Securities sold under agreements to repurchase and federal funds purchased	40,437		20		0.20	%	32,543		21		0.26	%	31,342		36		0.47	%

Subordinated debt(f)	129,395		1,565		4.80	%	149,155		1,819		4.89	%	188,996		2,341		5.02	%
Other borrowings	1,547		8		2.05	%	1,569		7		1.79	%	5,924		6		0.41	%
Total other interest-bearing liabilities	171,379		1,593		3.69	%	183,267		1,847		4.04	%	226,262		2,383		4.27	%
Total interest-bearing liabilities	7,778,486		8,189		0.42	%	7,913,662		9,766		0.49	%	7,675,407		12,209		0.65	%
Noninterest-bearing liabilities:
Demand deposits	2,596,650						2,484,176						2,348,814
Other liabilities	150,632						162,581						180,976
Total noninterest-bearing liabilities	2,747,282						2,646,757						2,529,790
Total liabilities	10,525,768						10,560,419						10,205,197
Total common shareholders' equity	1,389,201						1,339,938						1,303,493
Noncontrolling interest	93						93						93
Total equity	1,389,294						1,340,031						1,303,586
Total liabilities and shareholders' equity	$	11,915,062					$	11,900,450					$	11,508,783
Net interest income(a)			$	89,230					$	87,321					$	83,368
Interest rate spread(a)					3.07	%					3.04	%					3.01	%
Net interest margin(a)					3.20	%					3.18	%					3.19	%
Cost of total deposits					0.26	%					0.31	%					0.41	%
Average interest-earning assets to average interest-bearing liabilities					142.3	%					139.2	%					138.2	%
Tax-equivalent adjustment			$	754					$	758					$	792
Loans HFI yield components:
Contractual interest rate(a)(c)			$	77,150	4.23	%			$	76,127	4.31	%			$	75,828	4.39	%
Origination and other loan fee income(c)			6,377		0.35	%			6,928		0.39	%			6,640		0.38	%
Accretion (amortization) on purchased loans			157		0.01	%			(226)		(0.01)	%			(58)		—	%
Nonaccrual interest			431		0.02	%			535		0.03	%			657		0.04	%

Total loans HFI yield			$	84,115	4.61	%			$	83,364	4.72	%			$	83,067	4.81	%


Segment Data
For the Quarters Ended
(Unaudited)
(In Thousands, Except %)

	2022			2021
	First Quarter			Fourth Quarter			Third Quarter			Second Quarter			First Quarter
Banking segment
Net interest income	$	88,184		$	89,616		$	88,576		$	86,553		$	82,597
Provisions for credit losses	(4,247)			(10,769)			(2,531)			(13,839)			(13,854)

Noninterest income	11,983			21,850			13,823			14,002			11,398


Other noninterest expense	59,584			60,104			58,777			58,194			55,735
Pre-tax income after allocations	$	44,830		$	62,131		$	46,153		$	56,200		$	52,114
Total assets	$	11,890,847		$	11,540,560		$	10,712,281		$	10,908,107		$	10,787,955
Intracompany funding income included in net interest income	5,666			6,325			6,075			6,110			5,400
Core efficiency ratio*	58.7		%	57.5		%	57.9		%	58.6		%	58.6		%
Mortgage segment
Net interest income	$	(2)		$	139		$	(100)		$	10		$	(21)

Mortgage banking income	29,531			31,350			45,384			35,499			55,332

Other noninterest income	(122)			19			(201)			(201)			—

Other noninterest expense	29,688			30,798			36,230			34,766			38,963
Direct (loss) contribution	$	(281)		$	710		$	8,853		$	542		$	16,348
Total assets	$	783,344		$	1,057,126		$	1,098,009		$	1,010,260		$	1,147,871
Intracompany funding expense included in net interest income	5,666			6,325			6,075			6,110			5,400
Core efficiency ratio*	100.5		%	97.8		%	80.0		%	97.9		%	70.4		%
Interest rate lock commitments volume during the period
Consumer direct	$	568,092		$	796,900		$	1,085,180		$	914,163		$	949,187
Retail	741,015			687,682			926,723			860,370			939,863

Total	$	1,309,107		$	1,484,582		$	2,011,903		$	1,774,533		$	1,889,050
Interest rate lock commitments pipeline (period end)
Consumer direct	$	210,167		$	272,401		$	396,965		$	446,691		$	643,624
Retail	331,393			214,995			341,237			340,568			415,155

Total	$	541,560		$	487,396		$	738,202		$	787,259		$	1,058,779
Mortgage sales
Consumer direct	$	650,740		$	765,535		$	809,888		$	922,910		$	829,883
Retail	633,742			647,066			726,009			758,599			742,187

Total	$	1,284,482		$	1,412,601		$	1,535,897		$	1,681,509		$	1,572,070
Gains and fees from origination and sale of mortgage loans held for sale	$	29,397		$	37,538		$	39,210		$	49,435		$	57,893
Net change in fair value of loans held for sale, derivatives, and other	(7,548)			(12,478)			1,002			(17,579)			(4,229)
Mortgage servicing income	7,429			7,632			7,539			6,788			6,931
Change in fair value of mortgage servicing rights, net of hedging	253			(1,342)			(2,367)			(3,145)			(5,263)
Total mortgage banking income	$	29,531		$	31,350		$	45,384		$	35,499		$	55,332
Mortgage sale margin(a)	2.29		%	2.66		%	2.55		%	2.94		%	3.68		%


Loan Portfolio and Asset Quality
For the Quarters Ended
(Unaudited)
(In Thousands, Except %)
	2022					2021
	First Quarter			% of Total		Fourth Quarter			% of Total	Third Quarter			% of Total	Second Quarter			% of Total	First Quarter			% of Total
Loan portfolio
Commercial and Industrial (a)	$	1,380,600		17	%	$	1,290,565		17%	$	1,252,425		17%	$	1,238,940		17%	$	1,292,530		18	%
Construction	1,468,811			19	%	1,327,659			17%	1,190,623			16%	1,145,165			16%	1,120,585			16	%
Residential real estate:
1-to-4 family mortgage	1,346,349			17	%	1,270,467			17%	1,175,155			16%	1,126,623			16%	1,078,618			15	%
Residential line of credit	392,740			5	%	383,039			5%	392,440			5%	401,343			6%	394,510			6	%
Multi-family mortgage	400,501			5	%	326,551			4%	324,662			5%	363,600			5%	271,839			4	%
Commercial real estate:
Owner occupied	978,436			12	%	951,582			13%	938,241			13%	923,605			13%	936,473			13	%
Non-owner occupied	1,706,546			21	%	1,730,165			23%	1,695,573			23%	1,675,214			23%	1,652,638			24	%
Consumer and other	330,993			4	%	324,634			4%	325,555			5%	324,464			4%	300,149			4	%
Total loans HFI	$	8,004,976		100	%	$	7,604,662		100%	$	7,294,674		100%	$	7,198,954		100%	$	7,047,342		100	%
Allowance for credit losses roll forward summary
Allowance for credit losses at the beginning of the period	$	125,559				$	139,446			$	144,663			$	157,954			$	170,389


Charge-offs	(579)					(3,225)				(2,614)				(859)				(1,170)
Recoveries	1,198					984				229				453				367
Provision for credit losses	(6,129)					(11,646)				(2,832)				(12,885)				(11,632)


Allowance for credit losses at the end of the period	$	120,049				$	125,559			$	139,446			$	144,663			$	157,954
Allowance for credit losses as a percentage of total loans HFI	1.50		%			1.65		%		1.91		%		2.01		%		2.24		%
Adjusted allowance for credit losses as a percentage of loans HFI*	1.50		%			1.65		%		1.91		%		2.03		%		2.29		%
Allowance for credit losses on unfunded commitments	$	16,262				$	14,380			$	13,503			$	13,202			$	14,156
Charge-offs
Commercial and Industrial	$	(4)				$	(1,224)			$	(2,175)			$	(360)			$	(277)
Construction	—					—				(1)				—				(29)
Residential real estate:
1-to-4 family mortgage	—					(5)				—				(16)				(133)
Residential line of credit	—					—				—				(3)				(15)
Multi-family mortgage	—					(1)				—				—				—
Commercial real estate:
Owner occupied	—					—				—				—				—
Non-owner occupied	—					(1,566)				—				—				—
Consumer and other	(575)					(429)				(438)				(480)				(716)
Total charge-offs	(579)					(3,225)				(2,614)				(859)				(1,170)
Recoveries
Commercial and Industrial	958					626				19				87				129
Construction	—					—				3				—				—
Residential real estate:
1-to-4 family mortgage	12					27				33				41				24
Residential line of credit	1					99				1				9				6
Multi-family mortgage	—					—				—				—				—
Commercial real estate:
Owner occupied	10					13				4				126				13
Non-owner occupied	—					—				—				—				—
Consumer and other	217					219				169				190				195
Total recoveries	1,198					984				229				453				367
Net recoveries (charge-offs)	$	619				$	(2,241)			$	(2,385)			$	(406)			$	(803)
Net (recoveries) charge-offs as a percentage of average total loans	(0.03)		%			0.12		%		0.13		%		0.02		%		0.05		%


Loan Portfolio and Asset Quality (continued)
For the Quarters Ended
(Unaudited)
(In Thousands, Except %)

	2022			2021
	First Quarter			Fourth Quarter			Third Quarter			Second Quarter			First Quarter
Nonperforming assets(b)
Past due 90 days or more and accruing interest	$	12,873		$	11,735		$	8,901		$	9,098		$	10,698
Nonaccrual	27,826			35,568			34,126			50,429			55,538
Total nonperforming loans held for investment	40,699			47,303			43,027			59,527			66,236
Commercial loans held for sale	5,087			5,217			5,625			5,844			12,779
Other real estate owned:
Foreclosed	6,692			6,429			6,514			6,488			4,735
Excess land and facilities	3,029			3,348			3,501			5,498			6,442
Other assets	453			686			347			816			1,230
Total nonperforming assets	$	55,960		$	62,983		$	59,014		$	78,173		$	91,422
Total nonperforming loans as a percentage of loans held for investment	0.51		%	0.62		%	0.59		%	0.83		%	0.94		%
Total nonperforming assets as a percentage of total assets	0.44		%	0.50		%	0.50		%	0.66		%	0.77		%
Total accruing loans over 90 days delinquent as a percentage of total assets	0.10		%	0.09		%	0.08		%	0.08		%	0.09		%
Loans restructured as troubled debt restructurings	$	20,601		$	32,435		$	29,645		$	42,678		$	26,095
Troubled debt restructurings as a percentage of loans held for investment	0.26		%	0.43		%	0.41		%	0.59		%	0.37		%


Preliminary Capital Ratios
(Unaudited)
(In Thousands, Except %)

Computation of Tangible Common Equity to Tangible Assets:	March 31, 2022			December 31, 2021

Total Common Shareholders' Equity	$	1,379,776		$	1,432,602
Less:
Goodwill	242,561			242,561
Other intangibles	15,709			16,953
Tangible Common Equity	$	1,121,506		$	1,173,088

Total Assets	$	12,674,191		$	12,597,686
Less:
Goodwill	242,561			242,561
Other intangibles	15,709			16,953
Tangible Assets	$	12,415,921		$	12,338,172

Preliminary Total Risk-Weighted Assets	$	10,260,619		$	9,904,606

Total Common Equity to Total Assets	10.9		%	11.4		%
Tangible Common Equity to Tangible Assets*	9.03		%	9.51		%


	March 31, 2022			December 31, 2021
Preliminary Regulatory Capital(a):
Common Equity Tier 1 Capital	$	1,236,170		$	1,221,874
Tier 1 Capital	1,266,170			1,251,874
Total Capital	1,458,481			1,434,581

Preliminary Regulatory Capital Ratios:
Common Equity Tier 1	12.0		%	12.3		%
Tier 1 Risk-Based	12.3		%	12.6		%
Total Risk-Based	14.2		%	14.5		%
Tier 1 Leverage	10.2		%	10.5		%


Investment Portfolio
For the Quarters Ended
(Unaudited)
(In Thousands, Except %)

	2022					2021
Securities (at fair value)	First Quarter					Fourth Quarter					Third Quarter					Second Quarter				First Quarter
Available-for-sale debt securities
U.S. government agency securities	$	38,882		2	%	$	33,870		2	%	$	10,571		1	%	$	8,255		1%	$	—		—	%
Mortgage-backed securities - residential	1,232,256			73	%	1,269,372			76	%	1,210,503			77	%	1,035,003			73%	838,708			68	%
Mortgage-backed securities - commercial	14,307			1	%	15,250			1	%	15,712			1	%	15,161			1%	20,635			2	%
Municipals, tax exempt	310,138			18	%	338,610			20	%	327,239			21	%	332,883			24%	348,776			28	%
Treasury securities	80,173			5	%	14,908			1	%	6,006			—	%	10,534			1%	14,576			1	%
Corporate securities	7,769			1	%	6,515			—	%	2,527			—	%	2,536			—%	2,483			—	%
Total available-for-sale debt securities	1,683,525			100	%	1,678,525			100	%	1,572,558			100	%	1,404,372			100%	1,225,178			99	%
Equity securities	3,213			—	%	3,367			—%		4,779			—%		4,803			—%	4,667			1	%
Total securities	$1,686,738			100%		$1,681,892			100%		$1,577,337			100%		$1,409,175			100%	$1,229,845			100%
Securities to total assets	13.3		%			13.4		%			13.4		%			11.8		%		10.3		%
Unrealized (loss) gain on available-for-sale debt securities	$	(100,933)				$	4,727				$	14,374				$	22,321			$	19,245


Non-GAAP Reconciliation
For the Periods Ended
(Unaudited)
(In Thousands, Except Share Data and %)

	2022		2021
Adjusted net income	First Quarter		Fourth Quarter		Third Quarter		Second Quarter		First Quarter
Income before income taxes	$	44,549	$	62,841	$	55,006	$	56,742	$	68,462
Plus offering expenses	—		—		—		605		—

Less other non-operating items(1)	(174)		8,499		1,235		2,151		(853)
Adjusted pre-tax net income	44,723		54,342		53,771		55,196		69,315
Adjusted income tax expense(2)	9,358		11,791		11,072		12,879		15,810
Adjusted net income	$	35,365	$	42,551	$	42,699	$	42,317	$	53,505
Weighted average common shares outstanding - fully diluted	47,723,902		47,896,715		48,007,147		47,993,773		47,969,106
Adjusted diluted earnings per common share
Diluted earnings per common share	$	0.74	$	1.02	$	0.94	$	0.90	$	1.10
Plus offering expenses	—		—		—		0.01		—


Less other non-operating items	—		0.18		0.02		0.04		(0.02)
Less tax effect	—		(0.05)		0.03		(0.01)		—
Adjusted diluted earnings per common share	$	0.74	$	0.89	$	0.89	$	0.88	$	1.12
(1) 1Q22 includes a $174 loss from change in fair value of commercial loans held for sale acquired from Franklin; 4Q21 includes $9,921 gain from change in fair value of commercial loans held for sale acquired from Franklin and $1,422 related to certain nonrecurring charitable contributions; 3Q21 includes a $740 gain from change in fair value of commercial loans held for sale acquired from Franklin, a $1,510 loss on swap, and a gain of $2,005 from sales other real estate owned; 2Q21 includes a $1,364 gain from change in fair value of commercial loans held for sale acquired from Franklin and a $787 gain from lease terminations; 1Q21 includes a $853 loss from change in fair value of commercial loans held for sale acquired from Franklin.
(2) 3Q21 includes a $1,678 tax benefit related to a change in the value of a net operating loss tax asset related to Franklin.



	2022		2021
Adjusted pre-tax pre-provision earnings	First Quarter		Fourth Quarter		Third Quarter		Second Quarter		First Quarter
Income before income taxes	$	44,549	$	62,841	$	55,006	$	56,742	$	68,462
Plus provisions for credit losses	(4,247)		(10,769)		(2,531)		(13,839)		(13,854)
Pre-tax pre-provision earnings	40,302		52,072		52,475		42,903		54,608
Plus offering expenses	—		—		—		605		—
Less other non-operating items	(174)		8,499		1,235		2,151		(853)
Adjusted pre-tax pre-provision earnings	$	40,476	$	43,573	$	51,240	$	41,357	$	55,461


Non-GAAP Reconciliation (continued)
For the Periods Ended
(Unaudited)
(In Thousands, Except Share Data and %)

Adjusted net income	YTD 2022		2021		2020		2019		2018
Income before income taxes	$	44,549	$	243,051	$	82,461	$	109,539	$	105,854
Plus merger, conversion, offering, and mortgage restructuring expenses	—		605		34,879		7,380		2,265
Plus initial provision for credit losses on acquired loans and unfunded commitments	—		—		66,136		—		—
Less other non-operating items(1)	(174)		11,032		(4,400)		—		—
Adjusted pre-tax net income	44,723		232,624		187,876		116,919		108,119
Adjusted income tax expense(2)	9,358		51,553		45,944		27,648		26,034
Adjusted net income	$	35,365	$	181,071	$	141,932	$	89,271	$	82,085
Weighted average common shares outstanding - fully diluted	47,723,902		47,955,880		38,099,744		31,402,897		31,314,981
Adjusted diluted earnings per common share
Diluted earnings per common share	$	0.74	$	3.97	$	1.67	$	2.65	$	2.55
Plus merger, conversion, offering, and mortgage restructuring expenses	—		0.01		0.92		0.24		0.07
Plus initial provision for credit losses on acquired loans and unfunded commitments	—		—		1.74		—		—
Less other non-operating items	—		0.22		(0.11)		—		—
Less tax effect	—		(0.02)		0.71		0.06		0.01
Adjusted diluted earnings per common share	$	0.74	$	3.78	$	3.73	$	2.83	$	2.61

(1) YTD2022 includes a $174 loss from change in fair value of commercial loans held for sale acquired from Franklin; 2021 includes a $11,172 gain from change in fair value on commercial loans held for sale acquired from Franklin, a loss on swap cancellation of $1,510, a $2,005 gain on other real estate owned, a $787 gain from lease terminations and $1,422 related to certain charitable contributions; 2020 includes $6,838 FHLB prepayment penalties, $1,505 losses on other real estate owned offset by $715 cash life insurance benefit and $3,228 gain from change in fair value on commercial loans held for sale acquired from Franklin.

(2) 2021 includes a $1,678 tax benefit related to a change in the value of a net operating loss tax asset related to Franklin.

Adjusted pre-tax pre-provision earnings	YTD 2022		2021		2020		2019		2018
Income before income taxes	$	44,549	$	243,051	$	82,461	$	109,539	$	105,854
Plus provisions for credit losses	(4,247)		(40,993)		107,967		7,053		5,398
Pre-tax pre-provision earnings	40,302		202,058		190,428		116,592		111,252
Plus merger, conversion, offering, and mortgage restructuring expenses	—		605		34,879		7,380		2,265
Less other non-operating items	(174)		11,032		(4,400)		—		—
Adjusted pre-tax pre-provision earnings	$	40,476	$	191,631	$	229,707	$	123,972	$	113,517


Non-GAAP Reconciliation (continued)
For the Periods Ended
(Unaudited)
(In Thousands, Except Share Data and %)

	2022			2021
Core efficiency ratio (tax-equivalent basis)	First Quarter			Fourth Quarter			Third Quarter			Second Quarter			First Quarter
Total noninterest expense	$	89,272		$	90,902		$	95,007		$	92,960		$	94,698
Less offering expenses	—			—			—			605			—
Less gain on lease terminations	—			—			—			(787)			—

Less certain charitable contributions	—			1,422			—			—			—
Core noninterest expense	$	89,272		$	89,480		$	95,007		$	93,142		$	94,698
Net interest income (tax-equivalent basis)	$	88,932		$	90,537		$	89,230		$	87,321		$	83,368
Total noninterest income	41,392			53,219			59,006			49,300			66,730
Less (loss) gain on change in fair value on commercial loans held for sale	(174)			9,921			740			1,364			(853)
Less loss on swap cancellation	—			—			(1,510)			—			—

Less (loss) gain on sales or write-downs of other real estate owned and other assets	(434)			187			2,182			(27)			485
Less (loss) gain from securities, net	(152)			46			51			144			83
Core noninterest income	42,152			43,065			57,543			47,819			67,015
Core revenue	$	131,084		$	133,602		$	146,773		$	135,140		$	150,383
Efficiency ratio (GAAP)(a)	68.9		%	63.6		%	64.4		%	68.4		%	63.4		%
Core efficiency ratio (tax-equivalent basis)	68.1		%	67.0		%	64.7		%	68.9		%	63.0		%
(a) Efficiency ratio (GAAP) is calculated by dividing reported noninterest expense by reported total revenue.

	2022			2021
Banking segment core efficiency ratio (tax equivalent)	First Quarter			Fourth Quarter			Third Quarter			Second Quarter			First Quarter
Core noninterest expense	$	89,272		$	89,480		$	95,007		$	93,142		$	94,698
Less Mortgage segment noninterest expense	29,688			30,798			36,230			34,766			38,963
Core Banking segment noninterest expense	$	59,584		$	58,682		$	58,777		$	58,376		$	55,735
Banking segment net interest income (tax-equivalent basis)	$	88,934		$	90,398		$	89,330		$	87,311		$	83,389
Core noninterest income	42,152			43,065			57,543			47,819			67,015
Less Core Mortgage segment noninterest income	29,531			31,350			45,384			35,499			55,332
Core Banking segment noninterest income	12,621			11,715			12,159			12,320			11,683
Core revenue	131,084			133,602			146,773			135,140			150,383
Less Core Mortgage segment total revenue	29,529			31,489			45,284			35,509			55,311
Core Banking segment total revenue	$	101,555		$	102,113		$	101,489		$	99,631		$	95,072
Banking segment core efficiency ratio (tax-equivalent basis)	58.7		%	57.5		%	57.9		%	58.6		%	58.6		%

Mortgage segment core efficiency ratio (tax-equivalent)
Mortgage segment noninterest expense	$	29,688		$	30,798		$	36,230		$	34,766		$	38,963




Mortgage segment net interest income	(2)			139			(100)			10			(21)
Mortgage segment noninterest income	29,409			31,369			45,183			35,298			55,332
Less (loss) gain on sales or write-downs of other real estate owned	(122)			19			(201)			(201)			—
Core Mortgage segment noninterest income	29,531			31,350			45,384			35,499			55,332
Core Mortgage segment total revenue	$	29,529		$	31,489		$	45,284		$	35,509		$	55,311
Mortgage segment core efficiency ratio (tax-equivalent basis)	100.5		%	97.8		%	80.0		%	97.9		%	70.4		%


Non-GAAP Reconciliation (continued)
For the Periods Ended
(Unaudited)
(In Thousands, Except Share Data and %)

	2022			2021
Adjusted Banking segment pre-tax pre-provision earnings	First Quarter			Fourth Quarter			Third Quarter			Second Quarter			First Quarter
Total banking pre-tax net contribution	$	44,830		$	62,131		$	46,153		$	56,200		$	52,114
Plus provisions for credit losses	(4,247)			(10,769)			(2,531)			(13,839)			(13,854)
Banking segment pre-tax pre-provision earnings	40,583			51,362			43,622			42,361			38,260
Plus offering expenses	—			—			—			605			—
Less other non-operating items	(174)			8,499			1,235			2,151			(853)
Adjusted banking segment pre-tax pre-provision earnings	$	40,757		$	42,863		$	42,387		$	40,815		$	39,113

















	2022			2021
Tangible assets and equity	First Quarter			Fourth Quarter			Third Quarter			Second Quarter			First Quarter
Tangible assets
Total assets	$	12,674,191		$	12,597,686		$	11,810,290		$	11,918,367		$	11,935,826
Less goodwill	242,561			242,561			242,561			242,561			242,561
Less intangibles, net	15,709			16,953			18,248			19,592			20,986
Tangible assets	$	12,415,921		$	12,338,172		$	11,549,481		$	11,656,214		$	11,672,279
Tangible common equity
Total common shareholders' equity	$	1,379,776		$	1,432,602		$	1,400,913		$	1,371,721		$	1,329,103
Less goodwill	242,561			242,561			242,561			242,561			242,561
Less intangibles, net	15,709			16,953			18,248			19,592			20,986
Tangible common equity	$	1,121,506		$	1,173,088		$	1,140,104		$	1,109,568		$	1,065,556
Less accumulated other comprehensive (loss) income, net	(71,544)			5,858			12,637			18,405			16,058
Adjusted tangible common equity	$	1,193,050		$	1,167,230		$	1,127,467		$	1,091,163		$	1,049,498
Common shares outstanding	47,487,874			47,549,241			47,707,634			47,360,950			47,331,680
Book value per common share	$	29.06		$	30.13		$	29.36		$	28.96		$	28.08
Tangible book value per common share	$	23.62		$	24.67		$	23.90		$	23.43		$	22.51
Adjusted tangible book value per common share	$	25.12		$	24.55		$	23.63		$	23.04		$	22.17
Total common shareholders' equity to total assets	10.9		%	11.4		%	11.9		%	11.5		%	11.1		%
Tangible common equity to tangible assets	9.03		%	9.51		%	9.87		%	9.52		%	9.13		%


Non-GAAP Reconciliation (continued)
For the Periods Ended
(Unaudited)
(In Thousands, Except Share Data and %)

	2022			2021
Return on average tangible common equity	First Quarter			Fourth Quarter			Third Quarter			Second Quarter			First Quarter
Average common shareholders' equity	$	1,415,985		$	1,411,987		$	1,389,201		$	1,339,938		$	1,303,493
Less average goodwill	242,561			242,561			242,561			242,561			242,561
Less average intangibles, net	16,376			17,580			18,950			20,253			21,695
Average tangible common equity	$	1,157,048		$	1,151,846		$	1,127,690		$	1,077,124		$	1,039,237
Net income	$	35,236		$	48,827		$	45,290		$	43,294		$	52,874
Return on average common equity	10.1		%	13.7		%	12.9		%	13.0		%	16.5		%
Return on average tangible common equity	12.4		%	16.8		%	15.9		%	16.1		%	20.6		%
Adjusted net income	$	35,365		$	42,551		$	42,699		$	42,317		$	53,505
Adjusted return on average tangible common equity	12.4		%	14.7		%	15.0		%	15.8		%	20.9		%
Adjusted pre-tax pre-provision earnings	$	40,476		$	43,573		$	51,240		$	41,357		$	55,461
Adjusted pre-tax pre-provision return on average tangible common equity	14.2		%	15.0		%	18.0		%	15.4		%	21.6		%

Return on average tangible common equity	YTD 2022			2021			2020			2019			2018
Average common shareholders' equity	$	1,415,985		$	1,361,637		$	966,336		$	723,494		$	629,922
Less average goodwill	242,561			242,561			199,104			160,587			137,190
Less average intangibles, net	16,376			19,606			22,659			17,236			12,815
Average tangible common equity	$	1,157,048		$	1,099,470		$	744,573		$	545,671		$	479,917
Net income	$	35,236		$	190,285		$	63,621		$	83,814		$	80,236
Return on average common equity	10.1		%	14.0		%	6.58		%	11.6		%	12.7		%
Return on average tangible common equity	12.4		%	17.3		%	8.54		%	15.4		%	16.7		%



Adjusted net income	$	35,365		$	181,071		$	141,932		$	89,271		$	82,085
Adjusted return on average tangible common equity	12.4		%	16.5		%	19.1		%	16.4		%	17.1		%
Adjusted pre-tax pre-provision earnings	$	40,476		$	191,631		$	229,707		$	123,972		$	113,517
Adjusted pre-tax pre-provision return on average tangible common equity	14.2		%	17.4		%	30.9		%	22.7		%	23.7		%

	2022			2021
Adjusted return on average assets and equity	First Quarter			Fourth Quarter			Third Quarter			Second Quarter			First Quarter
Net income	$	35,236		$	48,827		$	45,290		$	43,294		$	52,874
Average assets	12,641,489			12,085,817			11,915,062			11,900,450			11,508,783
Average common equity	1,415,985			1,411,987			1,389,201			1,339,938			1,303,493
Return on average assets	1.13		%	1.60		%	1.51		%	1.46		%	1.86		%
Return on average common equity	10.1		%	13.7		%	12.9		%	13.0		%	16.5		%
Adjusted net income	$	35,365		$	42,551		$	42,699		$	42,317		$	53,505
Adjusted return on average assets	1.13		%	1.40		%	1.42		%	1.43		%	1.89		%
Adjusted return on average common equity	10.1		%	12.0		%	12.2		%	12.7		%	16.6		%













Adjusted pre-tax pre-provision earnings	$	40,476		$	43,573		$	51,240		$	41,357		$	55,461
Adjusted pre-tax pre-provision return on average assets	1.30		%	1.43		%	1.71		%	1.39		%	1.95		%
Adjusted pre-tax pre-provision return on average common equity	11.6		%	12.2		%	14.6		%	12.4		%	17.3		%







Non-GAAP Reconciliation (continued)
For the Periods Ended
(Unaudited)
(In Thousands, Except Share Data and %)

Adjusted return on average assets and equity	YTD 2022			2021			2020			2019			2018
Net income	$	35,236		$	190,285		$	63,621		$	83,814		$	80,236
Average assets	12,641,489			11,848,460			8,438,100			5,777,672			4,844,865
Average common equity	1,415,985			1,361,637			966,336			723,494			629,922
Return on average assets	1.13		%	1.61		%	0.75		%	1.45		%	1.66		%
Return on average common equity	10.1		%	14.0		%	6.58		%	11.6		%	12.7		%
Adjusted net income	$	35,365		$	181,071		$	141,932		$	89,271		$	82,085
Adjusted return on average assets	1.13		%	1.53		%	1.68		%	1.55		%	1.69		%
Adjusted return on average common equity	10.1		%	13.3		%	14.7		%	12.3		%	13.0		%




Adjusted pre-tax pre-provision earnings	$	40,476		$	191,631		$	229,707		$	123,972		$	113,517
Adjusted pre-tax pre-provision return on average assets	1.30		%	1.62		%	2.72		%	2.15		%	2.34		%
Adjusted pre-tax pre-provision return on average common equity	11.6		%	14.1		%	23.8		%	17.1		%	18.0		%

	2022			2021
Adjusted allowance for credit losses to loans held for investment	First Quarter			Fourth Quarter			Third Quarter			Second Quarter			First Quarter
Allowance for credit losses	$	120,049		$	125,559		$	139,446		$	144,663		$	157,954
Less allowance for credit losses attributed to PPP loans	—			—			2			9			23
Adjusted allowance for credit losses	$	120,049		$	125,559		$	139,444		$	144,654		$	157,931
Loans held for investment	$	8,004,976		$	7,604,662		$	7,294,674		$	7,198,954		$	7,047,342
Less PPP loans	2,062			3,990			9,415			57,406			145,697
Adjusted loans held for investment	$	8,002,914		$	7,600,672		$	7,285,259		$	7,141,548		$	6,901,645
Allowance for credit losses to loans held for investment	1.50		%	1.65		%	1.91		%	2.01		%	2.24		%
Adjusted allowance for credit losses to loans held for investment	1.50		%	1.65		%	1.91		%	2.03		%	2.29		%


Loans and Deposits by Market
For the Quarters Ended
(Unaudited)
(In Thousands)

	2022		2021
	First Quarter		Fourth Quarter		Third Quarter		Second Quarter		First Quarter
Loans by market
Metropolitan	$	6,470,116	$	6,127,930	$	5,863,563	$	5,752,482	$	5,550,927
Community	704,254		738,249		745,796		767,001		835,444
Specialty lending and other	830,606		738,483		685,315		679,471		660,971
Total	$	8,004,976	$	7,604,662	$	7,294,674	$	7,198,954	$	7,047,342
Deposits by market
Metropolitan	$	7,007,149	$	6,981,639	$	5,918,924	$	6,133,823	$	6,389,373
Community	2,580,610		2,436,548		2,269,511		2,246,922		2,192,116
Mortgage and other(a)	1,408,519		1,418,710		1,883,483		1,823,211		1,675,397
Total	$	10,996,278	$	10,836,897	$	10,071,918	$	10,203,956	$	10,256,886


			Page

Financial Summary and Key Metrics			4

Consolidated Statements of Income			5

Consolidated Balance Sheets			6

Average Balance, Average Yield Earned and Average Rate Paid			7



Loans and Deposits by Market			9

Segment Data			10

Loan Portfolio and Asset Quality			11

Preliminary Capital Ratios			13

Investment Portfolio			14

Non-GAAP Reconciliation			15