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Quarterly Results of Operations (Unaudited) | 12 Months Ended
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Dec. 31, 2025
Quarterly Financial Information Disclosure [Abstract] |
Quarterly Results of Operations (Unaudited) | Quarterly Results of Operations (Unaudited)
| 2025 Quarters
| Fourth |  | Third |  | Second |  | First
| (Dollars in Thousands Except Per Share Data)
Interest and dividend income | $ | 312,583 |  |  | $ | 212,405 |  |  | $ | 154,072 |  |  | $ | 153,728 |
Interest expense | 112,842 |  |  | 83,555 |  |  | 65,387 |  |  | 67,898 |
Net interest income | 199,741 |  |  | 128,850 |  |  | 88,685 |  |  | 85,830 |
Provision for credit losses | 8,106 |  |  | 20,300 |  |  | 7,000 |  |  | 5,986 |
Net interest income after provision for credit losses | 191,635 |  |  | 108,550 |  |  | 81,685 |  |  | 79,844 |
Loan level derivative income, net | 721 |  |  | 635 |  |  | (4) |  |  | 70 |
Gain on sales of loans and leases | 4,154 |  |  | 1,175 |  |  | 264 |  |  | 24 |
Other non-interest income | 21,043 |  |  | 10,535 |  |  | 5,710 |  |  | 5,566 |
Amortization of identified intangible assets | (8,777) |  |  | (3,587) |  |  | (1,431) |  |  | (1,430) |
Other non-interest expense | (133,589) |  |  | (125,709) |  |  | (56,630) |  |  | (58,592) |
Income (loss) before provision for income taxes | 75,187 |  |  | (8,401) |  |  | 29,594 |  |  | 25,482 |
Provision for income taxes | 21,821 |  |  | (4,180) |  |  | 7,568 |  |  | 6,382 |
Net income (loss) | $ | 53,366 |  |  | $ | (4,221) |  |  | $ | 22,026 |  |  | $ | 19,100 |
Earnings per share: |  |  |  |  |  |  |
Basic | $ | 0.64 |  |  | $ | (0.05) |  |  | $ | 0.25 |  |  | $ | 0.21 |
Diluted | 0.64 |  |  | (0.05) |  |  | 0.25 |  |  | 0.21 |
Average common shares outstanding: |  |  |  |  |  |  |
Basic | 83,851,381 |  |  | 87,508,517 |  |  | 89,104,605 |  |  | 89,103,510 |
Diluted | 83,878,047 |  |  | 87,832,552 |  |  | 89,612,781 |  |  | 89,567,747 |
Common stock price: |  |  |  |  |  |  |
High | $ | 27.96 |  |  | $ | 26.83 |  |  | $ | 11.11 |  |  | $ | 12.69 |
Low | 23.12 |  |  | 23.68 |  |  | 9.53 |  |  | 10.72 |
Dividends per share | $ | 0.323 |  |  | $ | 0.323 |  |  | $ | 0.135 |  |  | $ | 0.135 |
In November 2025, the FASB issued ASU 2025-08, "Financial Instruments - Credit Losses (Topic 326): Purchased Loans". This ASU aligns the initial recognition of the allowance for loan losses on purchased loans between PCD and non‑PCD assets by applying the gross‑up approach previously required only for PCD loans. The Company elected to adopt this ASU, effective January 1, 2025, and applied it to the Transaction completed in the third quarter, as permitted under the guidance.
| 2024 Quarters
| Fourth |  | Third |  | Second |  | First
| (Dollars in Thousands Except Per Share Data)
Interest and dividend income | $ | 158,147 |  |  | $ | 159,560 |  |  | $ | 155,355 |  |  | $ | 155,459 |
Interest expense | 73,159 |  |  | 76,552 |  |  | 75,354 |  |  | 73,871 |
Net interest income | 84,988 |  |  | 83,008 |  |  | 80,001 |  |  | 81,588 |
(Credit) provision for credit losses | 4,037 |  |  | 4,660 |  |  | 5,568 |  |  | 7,379 |
Net interest income after provision for credit losses | 80,951 |  |  | 78,348 |  |  | 74,433 |  |  | 74,209 |
Loan level derivative income, net | 1,115 |  |  | — |  |  | 106 |  |  | 437 |
Gain on sales of loans and leases | 406 |  |  | 415 |  |  | 130 |  |  | — |
Other non-interest income | 5,066 |  |  | 5,933 |  |  | 6,160 |  |  | 5,847 |
Amortization of identified intangible assets | (1,701) |  |  | (1,668) |  |  | (1,669) |  |  | (1,708) |
Other non-interest expense | (62,018) |  |  | (56,280) |  |  | (57,515) |  |  | (59,306) |
Income before provision for income taxes | 23,819 |  |  | 26,748 |  |  | 21,645 |  |  | 19,479 |
Provision for income taxes | 6,283 |  |  | 6,606 |  |  | 5,273 |  |  | 4,814 |
Net income | $ | 17,536 |  |  | $ | 20,142 |  |  | $ | 16,372 |  |  | $ | 14,665 |
Earnings per share: |  |  |  |  |  |  |
Basic | $ | 0.20 |  |  | $ | 0.23 |  |  | $ | 0.18 |  |  | $ | 0.16 |
Diluted | 0.20 |  |  | 0.23 |  |  | 0.18 |  |  | 0.16 |
Average common shares outstanding: |  |  |  |  |  |  |
Basic | 89,098,443 |  |  | 89,033,463 |  |  | 88,904,692 |  |  | 88,894,577 |
Diluted | 89,483,964 |  |  | 89,319,611 |  |  | 89,222,315 |  |  | 89,181,508 |
Common stock price: |  |  |  |  |  |  |
High | $ | 12.81 |  |  | $ | 10.54 |  |  | $ | 9.70 |  |  | $ | 11.48 |
Low | 9.70 |  |  | 8.43 |  |  | 8.15 |  |  | 9.23 |
Dividends per share | $ | 0.135 |  |  | $ | 0.135 |  |  | $ | 0.135 |  |  | $ | 0.135 |

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- Definition The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 270 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1B -Publisher FASB -URI https://asc.fasb.org/1943274/2147482964/270-10-50-1B Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 270 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/270/tableOfContent + Details
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