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v3.25.2

OPERATING SEGMENTS AND RELATED INFORMATION (Tables) | 6 Months Ended
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Jun. 30, 2025
Segment Reporting [Abstract] |
Schedule of Information Relating to Operating Segments | Goodwill and total assets are summarized below by operating segment. The “other” category included in the tables below consists of the parent company and the elimination of intercompany transactions:
|  | As of June 30, 2025
(dollars in thousands) |  | Banking |  | Wealth Management |  | FirsTech |  | Other |  | Total
Goodwill |  | $ | 358,694 |  |  | $ | 14,108 |  |  | $ | 8,992 |  |  | $ | — |  |  | $ | 381,794 |
Total assets |  | 18,708,690 |  |  | 137,756 |  |  | 46,681 |  |  | 25,613 |  |  | 18,918,740 |
|  | As of December 31, 2024
(dollars in thousands) |  | Banking |  | Wealth Management |  | FirsTech |  | Other |  | Total
Goodwill |  | $ | 310,595 |  |  | $ | 14,108 |  |  | $ | 8,992 |  |  | $ | — |  |  | $ | 333,695 |
Total assets |  | 11,856,651 |  |  | 126,180 |  |  | 57,737 |  |  | 6,154 |  |  | 12,046,722 |
Financial results by operating segment, including significant expense categories provided to the chief operating decision maker, are summarized below:
|  | Three Months Ended June 30, 2025
(dollars in thousands) |  | Banking |  | Wealth Management |  | FirsTech |  | Other |  | Total
Interest income |  | $ | 247,444 |  |  | $ | — |  |  | $ | — |  |  | $ | 2 |  |  | $ | 247,446 |
Intersegment interest income |  | — |  |  | — |  |  | 17 |  |  | (17) |  |  | — |
Interest expense |  | 90,247 |  |  | — |  |  | — |  |  | 4,016 |  |  | 94,263 |
Intersegment interest expense |  | 866 |  |  | — |  |  | — |  |  | (866) |  |  | — |
Net interest income |  | 156,331 |  |  | — |  |  | 17 |  |  | (3,165) |  |  | 153,183 |
Provision for credit losses |  | 5,700 |  |  | — |  |  | — |  |  | — |  |  | 5,700 |
Net interest income after provision for credit losses |  | 150,631 |  |  | — |  |  | 17 |  |  | (3,165) |  |  | 147,483 |
Noninterest income |  |  |  |  |  |  |  |  |  |
Wealth management fees |  | — |  |  | 16,777 |  |  | — |  |  | — |  |  | 16,777 |
Payment technology solutions |  | — |  |  | — |  |  | 4,956 |  |  | — |  |  | 4,956 |
Treasury management services |  | 4,981 |  |  | — |  |  | — |  |  | — |  |  | 4,981 |
Card services and ATM fees |  | 4,880 |  |  | — |  |  | — |  |  | — |  |  | 4,880 |
Other service charges on deposit accounts |  | 1,513 |  |  | — |  |  | — |  |  | — |  |  | 1,513 |
All other noninterest income |  | 5,556 |  |  | 209 |  |  | — |  |  | 5,991 |  |  | 11,756 |
Intersegment noninterest income |  | 316 |  |  | — |  |  | 429 |  |  | (745) |  |  | — |
Noninterest income |  | 17,246 |  |  | 16,986 |  |  | 5,385 |  |  | 5,246 |  |  | 44,863 |
Revenue |  | 173,577 |  |  | 16,986 |  |  | 5,402 |  |  | 2,081 |  |  | 198,046 |
Noninterest expense |  |  |  |  |  |  |  |  |  |
Salaries, wages, and employee benefits |  | 57,247 |  |  | 7,106 |  |  | 2,851 |  |  | 11,156 |  |  | 78,360 |
Data processing |  | 12,381 |  |  | 622 |  |  | 922 |  |  | 96 |  |  | 14,021 |
Amortization of intangible assets |  | 4,364 |  |  | 228 |  |  | — |  |  | — |  |  | 4,592 |
Interchange expense |  | — |  |  | — |  |  | 1,297 |  |  | — |  |  | 1,297 |
All other noninterest expense |  | 26,162 |  |  | 590 |  |  | 718 |  |  | 2,093 |  |  | 29,563 |
Intersegment noninterest expense |  | 5,156 |  |  | 778 |  |  | 360 |  |  | (6,294) |  |  | — |
Noninterest expense |  | 105,310 |  |  | 9,324 |  |  | 6,148 |  |  | 7,051 |  |  | 127,833 |
Income (loss) before income taxes |  | 62,567 |  |  | 7,662 |  |  | (746) |  |  | (4,970) |  |  | 64,513 |
Income taxes |  | 16,729 |  |  | 1,839 |  |  | (202) |  |  | (1,257) |  |  | 17,109 |
Net income |  | $ | 45,838 |  |  | $ | 5,823 |  |  | $ | (544) |  |  | $ | (3,713) |  |  | $ | 47,404 |
|  | Three Months Ended June 30, 2024
(dollars in thousands) |  | Banking |  | Wealth Management |  | FirsTech |  | Other |  | Total
Interest income |  | $ | 131,928 |  |  | $ | — |  |  | $ | — |  |  | $ | 11 |  |  | $ | 131,939 |
Intersegment interest income |  | 324 |  |  | — |  |  | 12 |  |  | (336) |  |  | — |
Interest expense |  | 45,126 |  |  | — |  |  | — |  |  | 4,281 |  |  | 49,407 |
Intersegment interest expense |  | 785 |  |  | — |  |  | — |  |  | (785) |  |  | — |
Net interest income |  | 86,341 |  |  | — |  |  | 12 |  |  | (3,821) |  |  | 82,532 |
Provision for credit losses |  | 1,908 |  |  | — |  |  | — |  |  | — |  |  | 1,908 |
Net interest income after provision for credit losses |  | 84,433 |  |  | — |  |  | 12 |  |  | (3,821) |  |  | 80,624 |
Noninterest income |  |  |  |  |  |  |  |  |  |
Wealth management fees |  | — |  |  | 15,917 |  |  | — |  |  | — |  |  | 15,917 |
Payment technology solutions |  | — |  |  | — |  |  | 5,915 |  |  | — |  |  | 5,915 |
Treasury management services |  | 2,145 |  |  | — |  |  | — |  |  | — |  |  | 2,145 |
Card services and ATM fees |  | 3,430 |  |  | — |  |  | — |  |  | — |  |  | 3,430 |
Other service charges on deposit accounts |  | 2,321 |  |  | — |  |  | — |  |  | — |  |  | 2,321 |
All other noninterest income |  | 4,123 |  |  | 191 |  |  | — |  |  | (339) |  |  | 3,975 |
Intersegment noninterest income |  | 316 |  |  | — |  |  | 264 |  |  | (580) |  |  | — |
Noninterest income |  | 12,335 |  |  | 16,108 |  |  | 6,179 |  |  | (919) |  |  | 33,703 |
Revenue |  | 98,676 |  |  | 16,108 |  |  | 6,191 |  |  | (4,740) |  |  | 116,235 |
Noninterest expense |  |  |  |  |  |  |  |  |  |
Salaries, wages, and employee benefits |  | 30,382 |  |  | 6,466 |  |  | 2,471 |  |  | 4,159 |  |  | 43,478 |
Data processing |  | 5,411 |  |  | 531 |  |  | 994 |  |  | 164 |  |  | 7,100 |
Amortization of intangible assets |  | 2,335 |  |  | 294 |  |  | — |  |  | — |  |  | 2,629 |
Interchange expense |  | — |  |  | — |  |  | 1,733 |  |  | — |  |  | 1,733 |
All other noninterest expense |  | 17,990 |  |  | 726 |  |  | 598 |  |  | 1,652 |  |  | 20,966 |
Intersegment noninterest expense |  | 2,848 |  |  | 774 |  |  | 357 |  |  | (3,979) |  |  | — |
Noninterest expense |  | 58,966 |  |  | 8,791 |  |  | 6,153 |  |  | 1,996 |  |  | 75,906 |
Income (loss) before income taxes |  | 37,802 |  |  | 7,317 |  |  | 38 |  |  | (6,736) |  |  | 38,421 |
Income taxes |  | 11,105 |  |  | 1,756 |  |  | 10 |  |  | (1,807) |  |  | 11,064 |
Net income |  | $ | 26,697 |  |  | $ | 5,561 |  |  | $ | 28 |  |  | $ | (4,929) |  |  | $ | 27,357 |
|  | Six Months Ended June 30, 2025
(dollars in thousands) |  | Banking |  | Wealth Management |  | FirsTech |  | Other |  | Total
Interest income |  | $ | 414,256 |  |  | $ | — |  |  | $ | — |  |  | $ | 5 |  |  | $ | 414,261 |
Intersegment interest income |  | — |  |  | — |  |  | 30 |  |  | (30) |  |  | — |
Interest expense |  | 148,764 |  |  | — |  |  | — |  |  | 8,583 |  |  | 157,347 |
Intersegment interest expense |  | 1,357 |  |  | — |  |  | — |  |  | (1,357) |  |  | — |
Net interest income |  | 264,135 |  |  | — |  |  | 30 |  |  | (7,251) |  |  | 256,914 |
Provision for credit losses |  | 51,293 |  |  | — |  |  | — |  |  | — |  |  | 51,293 |
Net interest income after provision for credit losses |  | 212,842 |  |  | — |  |  | 30 |  |  | (7,251) |  |  | 205,621 |
Noninterest income |  |  |  |  |  |  |  |  |  |
Wealth management fees |  | — |  |  | 34,141 |  |  | — |  |  | — |  |  | 34,141 |
Payment technology solutions |  | — |  |  | — |  |  | 10,029 |  |  | — |  |  | 10,029 |
Treasury management services |  | 7,998 |  |  | — |  |  | — |  |  | — |  |  | 7,998 |
Card services and ATM fees |  | 8,589 |  |  | — |  |  | — |  |  | — |  |  | 8,589 |
Other service charges on deposit accounts |  | 3,046 |  |  | — |  |  | — |  |  | — |  |  | 3,046 |
All other noninterest income |  | (3,823) |  |  | 411 |  |  | (2) |  |  | 5,697 |  |  | 2,283 |
Intersegment noninterest income |  | 668 |  |  | — |  |  | 774 |  |  | (1,442) |  |  | — |
Noninterest income |  | 16,478 |  |  | 34,552 |  |  | 10,801 |  |  | 4,255 |  |  | 66,086 |
Revenue |  | 280,613 |  |  | 34,552 |  |  | 10,831 |  |  | (2,996) |  |  | 323,000 |
Noninterest expense |  |  |  |  |  |  |  |  |  |
Salaries, wages, and employee benefits |  | 103,973 |  |  | 14,137 |  |  | 5,332 |  |  | 22,481 |  |  | 145,923 |
Data processing |  | 20,330 |  |  | 1,215 |  |  | 1,859 |  |  | 192 |  |  | 23,596 |
Amortization of intangible assets |  | 7,205 |  |  | 470 |  |  | — |  |  | — |  |  | 7,675 |
Interchange expense |  | — |  |  | — |  |  | 2,640 |  |  | — |  |  | 2,640 |
All other noninterest expense |  | 45,987 |  |  | 1,327 |  |  | 1,335 |  |  | 11,380 |  |  | 60,029 |
Intersegment noninterest expense |  | 9,821 |  |  | 1,558 |  |  | 729 |  |  | (12,108) |  |  | — |
Noninterest expense |  | 187,316 |  |  | 18,707 |  |  | 11,895 |  |  | 21,945 |  |  | 239,863 |
Income (loss) before income taxes |  | 42,004 |  |  | 15,845 |  |  | (1,064) |  |  | (24,941) |  |  | 31,844 |
Income taxes |  | 15,859 |  |  | 3,803 |  |  | (281) |  |  | (4,951) |  |  | 14,430 |
Net income |  | $ | 26,145 |  |  | $ | 12,042 |  |  | $ | (783) |  |  | $ | (19,990) |  |  | $ | 17,414 |
|  | Six Months Ended June 30, 2024
(dollars in thousands) |  | Banking |  | Wealth Management |  | FirsTech |  | Other |  | Total
Interest income |  | $ | 257,738 |  |  | $ | — |  |  | $ | — |  |  | $ | 21 |  |  | $ | 257,759 |
Intersegment interest income |  | 324 |  |  | — |  |  | 25 |  |  | (349) |  |  | — |
Interest expense |  | 90,449 |  |  | — |  |  | — |  |  | 8,924 |  |  | 99,373 |
Intersegment interest expense |  | 1,652 |  |  | — |  |  | — |  |  | (1,652) |  |  | — |
Net interest income |  | 165,961 |  |  | — |  |  | 25 |  |  | (7,600) |  |  | 158,386 |
Provision for credit losses |  | 6,268 |  |  | — |  |  | — |  |  | — |  |  | 6,268 |
Net interest income after provision for credit losses |  | 159,693 |  |  | — |  |  | 25 |  |  | (7,600) |  |  | 152,118 |
Noninterest income |  |  |  |  |  |  |  |  |  |
Wealth management fees |  | — |  |  | 31,466 |  |  | — |  |  | — |  |  | 31,466 |
Payment technology solutions |  | — |  |  | — |  |  | 11,624 |  |  | — |  |  | 11,624 |
Treasury management services |  | 4,046 |  |  | — |  |  | — |  |  | — |  |  | 4,046 |
Card services and ATM fees |  | 6,390 |  |  | — |  |  | — |  |  | — |  |  | 6,390 |
Other service charges on deposit accounts |  | 4,669 |  |  | — |  |  | — |  |  | — |  |  | 4,669 |
All other noninterest income |  | 9,983 |  |  | 354 |  |  | — |  |  | 84 |  |  | 10,421 |
Intersegment noninterest income |  | 632 |  |  | — |  |  | 526 |  |  | (1,158) |  |  | — |
Noninterest income |  | 25,720 |  |  | 31,820 |  |  | 12,150 |  |  | (1,074) |  |  | 68,616 |
Revenue |  | 191,681 |  |  | 31,820 |  |  | 12,175 |  |  | (8,674) |  |  | 227,002 |
Noninterest expense |  |  |  |  |  |  |  |  |  |
Salaries, wages, and employee benefits |  | 57,743 |  |  | 13,225 |  |  | 4,920 |  |  | 9,680 |  |  | 85,568 |
Data processing |  | 10,444 |  |  | 1,047 |  |  | 1,852 |  |  | 307 |  |  | 13,650 |
Amortization of intangible assets |  | 4,437 |  |  | 601 |  |  | — |  |  | — |  |  | 5,038 |
Interchange expense |  | — |  |  | — |  |  | 3,344 |  |  | — |  |  | 3,344 |
All other noninterest expense |  | 33,681 |  |  | 1,506 |  |  | 1,183 |  |  | 3,383 |  |  | 39,753 |
Intersegment noninterest expense |  | 5,726 |  |  | 1,548 |  |  | 720 |  |  | (7,994) |  |  | — |
Noninterest expense |  | 112,031 |  |  | 17,927 |  |  | 12,019 |  |  | 5,376 |  |  | 147,353 |
Income (loss) before income taxes |  | 73,382 |  |  | 13,893 |  |  | 156 |  |  | (14,050) |  |  | 73,381 |
Income taxes |  | 20,193 |  |  | 3,334 |  |  | 42 |  |  | (3,770) |  |  | 19,799 |
Net income |  | $ | 53,189 |  |  | $ | 10,559 |  |  | $ | 114 |  |  | $ | (10,280) |  |  | $ | 53,582 |

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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